DDBuSign EThv8kyg10.. C03DSeE&e91E45DS8712eB6F71¢oFFl COMPANY REGISTRAnON NVMBER 03197688 EMI ARCHIVE TRUST {a company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Charity Number 1056254
DooJSvJn Erv4¢po IO.. c03058E&E91E45O34712C88F71CoFFl EMI ARCHIVE TRUST FINANCIALSTATEMENTS YEAR ENOED 31 MARCH 2021 CONTEwrs Advisors, and Administrative details Trustees, Annual Report 4toll Independent Exarninels Report 12to13 Statement of Financial Activities (incorporating the income and expenditure account) 14 ststement of Financial Positloft 15to16 Notes to the financial 5tatement5 17to21
DwJStqn Envdw? ID.. C03D$6E9lE4$D12-0CB6FTl¢cFFl EMI ARCHIVE TRUST ADVISORS. AND ADMINISTRATIVE DETAILS REGISTERED CHARITY NAME EMI ArchNe Trust CHARITY NUMBER 1056254 COMPANY REGISTRATION NUMBER 03197688 REGISTERED OFFICE 4 P3ncras Squa¥e london NIC4AG TRUSTEES Caryn Tomlinson Ichairl The Hon. Richard Lyttelton IDeputy Chairl Wayne Shevlin (resigned March 8, 20211 Richard O'Brien Peter Duckworth David Holley Antony Wadsworth CBE David Hughes MBE (resigned July 9, 20201 Ross Foster Christopher Kènnedy Emily Mullins William Prentice Christophèr Ancliff Nigel Mark Reeve laniè Orr MBE lappotnted July 17, 20201 Dan Morales Abolanle Abioye (appointed August 6, 20201 Georgina Fegan lappointed October 16, 20201 Ethun Daniel Oernard lappolnied December 2, 20201 SECRETARY A Abioye BANKERS Barclays Bank PLC Hatton Cross london TW6 2RA LEGAL BDB Pitmans LLP One Bartholomtw Close London ECIA 7BL
Dwu&gn EttveIo ID.. C03D58E&E91E45DM712-OC86F71¢0FF1 EMI ARCHIVE TRUST TRUSTEÈSANNUAL REPORT 2020121 The Trustee5 present their statutory report together with the financsal statements of the EMI Archive Trust (the Tru5tl for thE yearended 31 March 2021. REFERENCE AND ADMINISTFiATIVE DETAILS Reference and odrninistrative details are shown In the xhedule of advisors and adrnini5trative detalls on page 3 of the f5nanclèl statsments. CTURE D MANAGE ENT THE TRUSTEES The Trustees are recruited from the music business, rnainstream busines5, the education sector, entertainment, renowned collectlons and the archiwing Industrle5. The Tn*stee5 are comrnitted to extendin8 their review of Trustee skills and continue to explore the appointment of addltional Trustees from a broad spectrtsm of wider Industries and diverse ba£kgiounds. Intludln8 those working in education, content creatlon. Innovation and teehnolo8y. J3nle Orr, an experienced educator. CEO of 4n Independent muslc edutation charity, Dan Morales, Universal Music fjrourfs lobal Chlef Informatlon Officer, a key contributor In the development of eBay and Paypal, Bola Abloye. Unlver5è1 Music UK'S renowned Company Secretary, Glna Fe8an, filrn producer. government advlsor. mernber of BAFTA Councll and the Royal Televlslon Society and Ethan Bernard, senior Cpmmunlty Projects Mana8er of XLP. wlth extensive experience of workin8 Wlth young people fTOrn di54dvantaged backgroundsi jolned the Board. bringin8 thelr expÈrlence and expertSseto the Trust. None of the Trustees15 remunerated forthelr services to the Trust. The Trust undertakes an induction PTOEramme ftyr all new Trustees and trainin8 is avallatAe as requlred. The tralnlng 15 carrfed out by independent lawfirm and charfty speclallsts BDB Pitmans LLP. The Trustees work wlth the Chalr to set the Trust strategy. ensure compllance, malntain 4ccountabllty and allocate budgets. The Trustees also contrlbute to curation toncepts, new projects, content production, govemmentand local authority interaction and Suggest sultable partrS. TheTrustees partiupate In active su committees taklng responslbllity for dElivering on The Trusvs goals, ensuring strirt 8overnance, creatin8 commercial opportunitie5 and 5UPPOrtlng partnerships. Durlns the perlod, the full setof Trusrees Fnet Temotelyfourtimes usingthevldeoapp Zoom,. In 3ddltion. various Trustees rnet for key break-out meetings online. focuslng On their particular area of skill. The Chair rnet th 411 focu$ 8roups, held weekly calls. and axtended Zoom meetin85 With the Herftage Curator, Joanna Hughes and Trust consultant. JacklÈ Bishop. WHO ARE WÉ? The Trust Is established as a company Ilmited by guarantee wlthout share capitsl. governed by artitle5 of assodation. The Trustwas set up on the 13th of May 1996 to preserve the hlstoryof EMI. The TNst holds oneof the world'5 largest and mDSt diverse music and technology archives. The orlgln5 of EMI date b3ckto 1897 encompa5sin8an extraordinary journeythrough British history. EMI stands for Eleetric and Musical Industrles ond thè collections cover many aspects of the early recorded musi¢ industry and the role that EMI lorlginally called The Gramophone Company) played in it. datln8 from its origins in 1897 up to 1946.
D¢¢oSW Envdope ID." c03D58E&E91E450>8712CB6FI1CUFF1 EMI ARCHIVE TRUST TRUSTEÈSANNUAL REPORT 2020121 In additionto matersal relatingto EMI'S musical heri£age, theTrustalso preserve5artefacts aSSOtlated wlth EMI'S Si8nificant achievements in electrical engineerlng Including television, radar. and medicine. alon85ide the early 8h1Ve$ of the HMV shops and Abbey Road Studios. The administration forthe Trust is undertaken pro-bona Eiy EMI Group Ltd employees a seNl¢e agrÈernent The Trust has e(ended Its longstandlng Servi agreement wlth the EMI Group Ltd until the l# of December 2024. The EMI Group Ltd Is part of Universal Music Groupi who underwrite the TrusV5 Lsverheads on an annual basis. GOVERNANCE The Trustees contlnue to take advice from leadlng Industry lawyers. BDB Pitmans LLP, to ensure the Trust is further aligned and corn Jiantwlthln the UK'S current legal guldelineson 8ovemance forcharities. TheTrustees are aware of the Charlty Governance Code, as updated In December 2020, which sets out the principles of recommended pracUee for good governance wlthln the sector and wlll contlnue to keep the Charitvs 80vernance under periodic review using the Code as a p)int of reference. The Trustee5 in accordance wlth Charity Commlsslon's best pr3CtItr guidance have drafted 5 new polities which will be reviewed and adopted In their l December 2021 meeting. the new policies are.. Safeguarding Policy. Equality Dlverslty and Ineluslon Pollcy, Recrukmemt Policy. Risk Assessment PolKy. Confllrt of Intere51 Policy OBJEcfs ANDA TheTrustes h4v* had regord to th• Charty Cornrnisslon's public ben¢fitguidan¢e. OUR VISION AND OBIECfS The objects of the Trust am restricted specifically to the advantemèrtt ol edueatitsn and research and In partlcularto fostey the study and appre¢iatk)n of. the art. techntques and development of sound recordin8 and the history of the Sound recording industryi the techniques, develtspment 4nd history ol elertronit, eledrital, lighting and asxTrciated products,. and the archlve materlal of Thorn EMI and / or $ ass(>dated ¢ompanles. OUR FOCUS The Trust loans artefarts where appropriate to mu5eurn5. exhibition5 and for appearances in films, teleM5ion and other rnedla to make thern as widely 3cce55ible to the public as sSIble, and in Drder to rnaxirnise benefit to the public. The Trust also makes its colle£tlons avallable to researchers, educators, authors, creators and the public upon request. The Trust partners with local schools and hlgher educatlon institutes to share knowledge, ensure access, showcase muslds extraordinary history to future generatlons and to maintsln the historlt connection EMI had with the community In Hillingdon & Flaye Trustee, Dan Morales, who brfngs hls substantlal 0bal technology and Innovation experfence to The Trust actively contributtng to the Trust's over-archin8 di8ltal strateBy to create broader access for the public to the Trust's assets. Vi3 a unique dS8YclsatSon project wlth the alm of updatlng TheTrusVs onllne presence and creatlng a public-facing EMI Archive Trust website showcasin8 the collee£ion wa an online exhib((ion format.
uslun Envolw ID." C03D58E&E91E4SD$8712C86F7l¢oFFl EMI ARCHIVE TRUST TRUSTEES ANNUAL REPORT 2020121 The Trustees and the Trusvs Herltage Curator Joanna Hu8hes have con 'Sterst expand¢d and developed the Trust'5 relationships with global institutions, academics, disco8raphers. niversities, sth001s. content creatOT5, commercial partners and creatives. which has drNen broader aCS to the Trusvs holdln8s and assets durlJg the reported period. The Tnjst eontlnues to explore deeper eommerclal and creatlve partnerships to extend the global re4ch of the collection, to support The Trust wtth additional funding and to crEate awareness of the value In the heritaBe it Is custodian of. The Trust's consultant, Jackie 8ishopi 5UPPOrts the Herltsge Curator and Trustee5 acr055 nurnerous prolert$, publit outreach and on key funding applitations. PUBUC BÉNÉF Despite the pandemic, The Curator, the Chalr, the Trvstee5, and the Trtssys pro-bono staff contlnued to ensure that allintere5ted and serious parties had accesstoThe Tru5Vsassets, historicdata, and thestafff svastexpertise onllne orvla dlrect a¢$stOd581tlSe assets. Although on-sitevisf(swere not p0sble dueto Government Ctsd- 19 restrirtions. the curator handled research, documentaryp and higher edutation requests via telephone. zoom and em811. Followtng UKGovemment required CovKI-19 safetyguidelines. a limited nurriber of EMI Group staff attended the archive buSldingto ensure maintenance and security of thefacility, 4ndtt>consistently review the status of the historic collection. 24-hoursecurity remained active durin8 lockdowns and across the reported perfod. The Trust ctsntinued tts 5UPPOrt enquirfes, partnershlp actlvities and cM-8olng academic research prtsjeets, using the multiple digital archivin8 sy5t¢rnsTheTrust utillses. daify. TheTrustentered into orm4intained a number of Imwrtant partnershlps in 2020121 while exploring numerous projects key irTrstitutions and content creators across the globe. to ensure our Object of allowing public access foreducatlonal and hlstoylcal research purposes. by educational establlshments, students, historian5and other researchers. was fullyexerclsed. Secret Studio Education P ramme The EMI Archive Trust. In partnershlp wfth yOLTrth-community charity, XLP and Univeal Musl¢ Group £Ted 5Ecret Studio, a three.day experientlal rnusic education prcgramrne which took place in 2019. Aimed at a new generation of youn8 artists. who were tssked to write a 21st wturytratk Insplred by the earliest recordln8s In music history. The project was shortlisted forthe prestl8ious Third Sector Buslne5s Charity Awards 2020, 8 huge chievementto athievethe shortlist of trdo. in the cate80ry of businw5. charty & rnedij partnershl•. ahead of hundreds of nat5onwSde submlsslons. The Trusvs educatlon strategy indL¢des expanding the projert through partner5hip5 to reach a wider cross-COUrtry networK post-pjndernic. Pinkwell PTima Schix)I The Trust commenced a project with Pinkwell Primary khool, opening dlscusslons to create educational tools and programmes In full partnershlp. Brit15h Libra The Trusys long-term partnership with the British Library IBLI continued, ran8in8 acros5 sharlng arthiving strate8V, to gatherlng advi on The Trustrs comprehensive digitisation project planned for 2022. The dose relatlonship. spearheaded by Janet Topp Fargion, Head of Sound & Vision and Will Prentitt, a Trustee since March 2018, continuesto drive shared support and technical advlce forThe Trust from the Librarls experienced team. In addrf(ion, the 8Lsupported the Trust's applicatlon for fundingfromThe National Archive in 2019.
DwJSign Envelow ID". Co3D56E&E91E45DM712¢B8FTICoFFl EMI ARCHIVE TRUST 7RUSTEESANNUAL REPORT 2020121 Universi of Hudder5field The Trust continued di5CU55ion5 related to the University of Huddersfleld Academic partner5hipi prosett 'Con5tructing a Mechanltal Recordlng Sttsdio." Innovation, Practice and Herita8e'. Dueto pandemit restr10$. a vistt to the Haye5 arthive Wd5 Put on hDId. Unlvers tsf Null The Herits8e Curator g#v a¢¥d•mi¢ suppDrttoth¢ Unlverslty of Hull's prolect'Navi8atin8 the Orchestral Experlence., Brunel Unlversi The Herit8Be Curatoroffered ¢reatlve supportfor Phll Coy Artist-ln-resldence 8runel Unlverstiy. The EMI Archive Trust will provide content for a limited-edition art EK)Dk to complement a new public work entitled 'Conical forms two li#eningdevKes' and support the launch. The Victoria & Albert Museum The V&A's phenomenally successful exhIbOn You W You Want A Revolutlon, whlch induded The Trust's 5ketth by 51r Peter B18ke, the cover artwork on The Beatle album S8t- Pepperfs Lonely Heèrts Club Band was cancelled due to Covid restrictions, the artefact was returned in June 2021. The V&A supported the Trusvs fundlng applleatlon toThe Natlonal Archive. Alan Dower Blumleln Blumlein wa5 one of the most prollflc invelltors of the twentieth century, earning a total of 128 patent5 in his short life. The EMI Archive Trust 15 the custodian of Blumleln's research papeT5 and prototype5. 8lumlein filed 121 of those patents in the space of 13 year5, whileworkingfor EMI atthe Central Research L8borory, covering key development5 the fields of Sound reTrrdlrTr& tslevlsion and radar. On June 7. 1942 durinE World War11, aged 38, Blurnlein's lrfe was cut tra8ically short in an alreraft accident whilst testing the H2S airbome radar system that the team he w8s le8dlftg had developed and whlch was soon after deptoyed throughout the RATS fleet. TheTrust's rare Blumlein HB microphone remained on102n to globally renowned Abbey Road Studios on publi display in their on4ite shop exhibition. Alan Dower 81umleln invented stereo sound whilst workin6 at EMI,fi1in8 patent for "Improvements In ané relatlng to und-tranSrn15510ll, 50und-rewrding and sound-reproduong systems. In December 1931. The Trust continues to develop the Blumlein film-A First aass Mind" working with ¥dvisor5 and producer5 on an updated treatment for the fllm, wlth the support of Trustee, Gina Fegan and Blumlein's son Simon and his familv. ationa edi2 Muse The Trusvs Chalr, Caryn Totnlinson and Heritage Curator, Joanna Hughes. continue to interact wlth the Curator5 at the National Sclence and Medla Museum. Bradford regarding Trust-owned telewsion heritage on permanent loan to the museum. The Trustees agreed to partner on the development of o thretryear research proje 'Instrumentalisin8 Electronlc Sound.. Music. Sclence andTechnolo8y intheTwentieth Centur¢ withthe mu*um, leeds Unlversty and global partner Institutlons, looklng at new approaches to understandin8 electronic sound wlth Annle Jamieson, Assoclate Curator of Science and Technology 3nd Leeds Universitys Dr. James Mooney Assoclate Professor of Musicology and Musl£ Technology. The Trust's strategy to ensure EMI'S history and aChVernents in science continues to reach students. school children and the general public rernains a kev factor, alongsldethe potentlal to treate partnered educatIon programmes. ce
08 En¥dope ID. C03D58Ee-E9lE45D34712¢BGF71Q0FP1 EMI ARCHIVE TRUST TRU5TEESANNVAL REPORT 2020Izi Blac ool Museum ShowTown Exhibition The Trust and the Blackpool Museum contfnued thelrforrnal partnership started in 2016 and running until 2024 tts work OA the co-curation of innovative displays at the Blackpool Museum. The Trust Is monitoring the pandemltrrelated delays that may ottur. 5howTown's curators have worked with The Tru5V5 Heritage Curator, to Edentify important Blackpool historicmemorabllSa that are readyto be loaned forthe exhibttion. The Museum supported the Trust's appllcatlon to The Natlonal Archlve. Abbe Road Studlo 9h anniversa The Trust supp)rted Abbey Road's research Into Its early h15torytocelebrnt• it$ 90 annNersary In 2021. sharlng physKal assets and tstilising acce55 to dlOtlsed imases, paperwork and pSan5. An exhibition Ind hizh-profilt dorumentary are planned for 2022. Media & Online Presence TheTrust maintain5 a webwte, J bloK a new51etter, a podcast and very effective Facebook, Linkedln and TvAtter accounts to inform the publit and formw tmployees about Its latsst news. During the pandemic, the Heritage Curator treated a weekly social media series olled 'Lockdown Momen featuring bad¢cat4logue oral histories. Numerous 1¢om-based Curatorfstalks went ahead durin8 the reported period, to historic societies and for commercial partners and UnNersal Muslc Group employees. The Trust is currently redesigning and refreshing its websfte and social presence. ACHIEV NTSAND PERFORMANC 2020 21 SOUND OF THE HOUND PODCA5r Trustee. Dave Holley, and journalist/author and long-tirne supporter tsf the Trust, James Hall, launched the first Series of a dcast called The Sound of The Hound which ran from March to May 2020. The podcast follows the dventures of Gramophone Company ploneer re¢ortling englneers, Fred Galsberg and Wllllam Slnkkr Darby. Using the Trust'scollection of diaries, photographs and recorded sound, Dave and James look at hlstorlcal facts, context and the myths that have grown up over time related to the two famous innovators and the music Industry they were creatlng. The first serieswas listed In the Financial firnes. Top 10 podcasts to listen to duflng I(kdOWn. A second serfe5 wa5 recorded duringthe reportlng perlod, and was released in the summerof 2021. THE NATIONALARCHIVE NA The Tmst Suc$$fullY applled for 3n'Archives Revealed. Scoplng Grant from The National Archive in 2019. The Sco5MngGrdntfundsan assessment repa¢ inwTporatingexpert3dvice on a rangeof areasfelatingto co15ections management and develvprnent. The Trust Herltage Curator, Consultsnt and the Trustees worked tOKether wTth the TNA tMmended consultsnt, Kevin 6oEton, who prowded a statement on the uniqueness of the EMI Archive Trust assets, an overview of priority projectsand a survey of the full scope of thecollection. TheTNAfunded report wlll be used as an advocacy tool with partners or to SUPPOrt furtheT lunding applitatlon. The Trust Sncorporated as many recommendatlons as It could. glven the pandemic restrictions and continued to work with KÈvln Bolton throughout 2020121 THE REALLY LOCALGROUP- THE GPAMOPHON The Trust continued to work wi(h the Really Local Groupi focused on exhibitions for their temporary spate at the old EMI faetory's Boilerhouse. The Herftage Curator continues to support plannin8 for the permanent community cinema and studlo eomplex, The GrarrK)phone, a project that wll reach all sectors of the local communlty. The Trusvs Joènna Hughes slts on the steerin8 cornmittee for the creative element of the developrnent, fi4lowing on frorn the TrusV5 formal letter of supportfor the Really Local Grourfs fvnding bid.
DDvJ&gn Envdope ID.. cIJ3DSBEW1E45DS8712CBoF7I¢cF1 EMI ARCHIVE TRUST TRU5TEESANNUAL REPORT 2020121 STEPHEN CLARKE & THE GRAMOPHONE COMPANY DISCOGRAPHY Created bystephen Clarke and RogerTe$sler, The Gramophone Company Dlsccgraphy Is a searchable database built on the dats collected and collated by Dr Kelly, who documented much of The Gramophone Cornpanws 78rpm output Clarke andTe55ierfs philanthropicEe5ture in ryeatingthe database has been hailed bytheworld's leadin8di5CO8raphers. The Trusternployed a desiBner and pro8faTnrnerto work with the CTeator5 to uate the user expeThence and to create a new logo. P05t-pandemic, The Trust will h05t and uplaunch the dlscography, wth the ongolng expertlse and 5UPPOrt of Clarke and Tes5ier. NLINE MUSEUM The Chair and The Trust's tearn continue to plan with Trustee, Dan Morales, 8round opportunities and updates a¢ross the TrusY$ dlgltal fooiprint and to share strate8i¢ alms. The Trust's benefactor. Unlversal MU¢ Group are supportive of strate8lc plannlng for an interactlve public-facing website showca5in8 the TrusY5 di8ltised a55et5. ART15T IN EIESIDENCE The Trustees Invited leadlng UK Creatlve Dlrector. Ayo Santon. to SIt The Trust as an 'artist in re51éencrf, to explore new opportuniÉies to share Trust held artefacts, hlstorles and stories in innovative ways to reach new and diverse audiences. TELEV SION S The Trust'5 Ctyntent Cornmittee comrnenced work on a ehronologltal televlslon serles based around the entrepreneurs, musiciansand artistswho builtthe Gramophone Company and5haped the 8lobal rnusic industry. FILM OF TRUSTJISSETS The Trustees commlssioned a hl8h-resolutlon film of The Trusys assets in sttu at Hayes, from UMG'S En8ine Roomtearn, to be used a5 a visual aid wtth coTnrneFci41 partner5 and Wobal institutlons who could not physically 7Sit the ATchive during the pandemic. The foota8¢ will a150 be used to create assets for the updated webstte and vlrtuèl museurn in thefvture. THE HEBREW UNIVERSITY F JERUSALEM The Jewish Music Research Centre, The Hebrew Univer5tty of Jerusalem, launched'judeo-spanlsh Songs from the EMI Archive Trust11gX)7- 19121. on 22 November 2020 and received very p051tNe feedback acr055 the publicand atsdemia. PRESERVATION All herita8e3rtefacts stored on thefloorwere repositioned by heritage handleTStorestsix inchesoff theground. EMI 125Tr ANNIVERSARY The Trust comrNdnced plannlng for EMI'S 125th annlversary commencing in 2022 and running in 2023. FINANCIAL REVIEW RISK STATEMENT The TrusteÉs have assessed the malor Sk$ to which The Trust Is exposed 8nd have on*olng mvtlgatlon actlons in consideratlon. External finandal support receSvefl to coverthe Nnnlngcosts of The TrLtst Is reduced. The administration of The Trust is undertaken by EMI Group Ltd employees wa a servlce a8reernent. The Trust has extended 1tslongstandingseree agreement wth the EMI Group Ltd Inowowned by Universal Music Groupl until the I" of December 2024.
DO8197 Envdope ID.. C03D58E&E91E45D>87I2CB6F71c0FF? EMI ARCHIVE TRUST TRUSTEES ANNUAL REPORT2020121 The Trustees continue to explore new revenue opportunltles and seek to diver51fy inwme 5tream5 to mltlgate risk should funding bewithdrawn Of reduced. Trustee R05s Fuster has affordedtheTru5tintroductionsto Seval corporations for discussions around Trust IP and comrnertlal opportunities. RESERVES POLICY The Trustees are aware that three months running costs need to be available in reserve as a safeguard against unforeseen expenditure and liabilitse5 and unpredirtoble income 5tream5 and areworklng toward that aim. The Trust held £179,011.26 Dn March 31, 2021. The Trust currentty holds £160,559.64 on DecernbeT 16, 2021. TheTru5tees continue to focus on an e¥panded 5tr8tegy to applyfor external fvrdln8 from a VaTiety of natlonal funds, private bodies and institutes to build a sustainable, seture long-term future for The Trust. PLAN FOR Z021122 The Trust will execute on the projects created for 2021122 with our key 8lobal partner5, delrverlng assets, uratlng COnpts, partldpatlng In academlc research prolects. developing education prograrnr, developln Content, creating commercial strategies and loanin8 rare artefacts. The Trust wlll ConnUe to actlvety seek partners for 202U22 and onwards, whosè tontTibutlon w511 enyjre broader acce55 for the general public to The Trusvs as$ets via innovative content creation. 3n evolving di8itBI presence and a funded digitisation project with the aim of creatlng a publlc-fadng EMI Archive Trust web51te 5howca5in8 the digit15ed asset5. Post pandemic, th•Trustees vlll be focused on Identlfylng prforltlesfor catalo8uin8* preservation and outreach from The National Archive Scoping Report. Artefacts to be reviewed include rare and unheard recordlngs from the ffrst 10 years of the recorded musSc Industry along with photographs, letters, diarie5, sales ¢atslo8ues and EMI companyrecords. The collection also covers pre and post-world War l and11, Royal recordlngs and artèfacts, mulU-cultur8llsm and musl@s impart on sodety. theTrusVs unrNalled shelkc collection, the developrnentofthe crscanner, the science of muslctechnology and InntiOn from 1897 to 1947 and nulnerous other historltsllv relevant topics. Educatlon programmes remaln a prlorfty. Including affordin8deeper attess for edutatltsn81 Inst(tutlonsthrough curated education progrèmmes. The Trust wlll continueto expandthe curtent edutation pro8rammes. including creating bespoke targeted projects for different age groups and school types. These nationwide proje¢ts will stand alongslde the charltvs ongoing communltyeducatlon prolerts and local engagementactlvltles. where the EMI hlstory Is most prevalent. While publlc tenefit Is the key drlver, theTrust wlll contlnueto research commercial OpportunieS for owned IP or creatlve exploitstion. TheTrusV5 contentcreat+on strategywlll build on prev(ous oneff broadcasts. mvln8further into collaboration on television 5eTies 4nd documentaries, film projects, podcasts, radlo programmes. editorial media coverage and documentaries, allowing greater reach and global access. The EMI Archive Trust, togetherwith tts long-tèrm benefattor, Unlversal Muslc Group IUMGI, are explortng options for a new perrnanent home for the Trust and its pricele55 assets. A Tran51tion Comrnittee of Trustees, Chaired by Richard Lyitelton, has oversi8ht and control over all movt planning, intludlng heritsge packin& statements of work and the setting of packing and move methodolo8y and prototols. io
DOrjJSn Envdope ID.. 089A5dA4-F97A41D2-84A>7C8OID43E8F2 EMI ARCHIVE TRUST TRVSTEES ANNUAL RÉPORf2020121 The Trust has been housed for the last the detades In the same faclllty In West London, but thls Is now showing considerèble wear and tear. Therefore, the Trust and UMG have jointly decided th* 4 new state4)f- the-art tscility 15 the appropriate IonB-term solution to safeguard theTrust's future and the world-renowned historical music and technoloey artifacts under its care. Durlngthe perfod of transltlon to it5 new home, the EMI Archlve TrLtst wlll contlnue to dellver on publlc access, fulfill all current partnershSp proleets and those currentw the pipeline, and continue with its awnbitious and Impattful education, content creatK)n ènd ¢ornmunity PToKrarnmes. ATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees, who are also the dlrectors for the purposes of company law, are POnble for preparin8 the Trustee5' Report and thefin4nci415taternents in accordan with applicable law and United Kingdorn Accountin8 st&nd8rds Iunlted Klngdom Generally knepted A¢counVng Prartltel. The Trustees are required to prepare financial statements for each financial year whi£h ve a true and fairview of the stste of affalrs of the Charlty and of the Incomlng resources and applicatlon of resources. Including the Incorne and ekpenditure, of the Charity for that period. In preparing these financ&?1 staternents. the Trustees are requlred to.. S¢lect suitable acwunting polKle5 and then applythem con515tentlv Observe the methods and principle5 in the Charities SORP,. Make judgement5 and estimètesthat are reasonable and prudent,. State whether applicable UK Accountlng standards have been followed, subleet to any materlal departures d15closed and explained in the financial 5tatements,' Prepare the finantial ststernents Dn the going concern basis un1¢55 Is Inapproprlate to pr¢sume that the Charlty wlll continue in buslnes5. The Trustee5 are responsible for keeping proper accountin8 records that disdose wth reasonable accurary at any tlmè the finarFcial position of the Charity and enable them to ensure that the financial Statements cornply with the Companie5 Att 2006. Caryn Tomlin50n Director 20 December 2021 li
09¢U& Env0 ID". C03DS8E&E91E45DM712-OCB6F71COFF1 Independent Examlnerfs Report Report to tht trustees of EMI Arch Trust On accounts for the y•ar ended 31 March 2021 Chartty no.: 1056254 Company no.: 03197688 Set QLrt on pages 14-21 I report to the charity trustees on my examination of the accounts of the Company forthe year ended 3110312021. As the char55 trustèès of the Compary (who arè also the directors of the company tor the purposes of company lawl, you are responsible for the Responslbillties and basis of pieparation of the accounts in accordancè with the requlrements of the report Companie5 Act 2(M)61"the 2006 Act"). Independent Examlnerfs Report Icontinuedl Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I repgrt in respect of my examination of your charity's accounts as carried out under Section 145 of the Chartties Art 20111.the 2011 ACVI. In carrying OLrt my examination, I have followed the Directions given by the Charity Commisslon lunder section 14515llbl of the 2011 Art. I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that= ¥ arcounting records were not kept in accordance wtth section 386 of the 12
DoNSign EThvo&Jp& IU.. C03D5aE&E91E45Dm712C86F7l¢oFFl Companies Act 2006: or the accounts do not accord with such records,. or the accounts do not comply wth relevant accounting requirements under sertion 396 of the Companies Act 2006 other than any requirement that the accounts give 'true and fairf view which is not a matter considered as part of an tndependent examination,. or Independent examinerfs ststement •the accounts have not been prepared in a¢cordancewith thè Charitles SORP IFRS1021. Sarah Spalding FCCA. AMCT 37 Manor Crescent ByAeèt KT14 7EN Date: 2011212021 13
Dtswslgn En¥elop9 ID." COJD5bE&E91E45PM712-OCB6F71COFF1 EMI ARCHIVE TRUST STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 Totsl Fd$ 2021 Totsl Funds 2020 INCOME Donatlons legacles 134,836 133,780 TOTAL INCOME 134,836 133,780 EXPENOITVRE Exppnditurg on charitabla actlvlttas li,579) 1102.1621 Otherc¢sts 116,8331 133,2541 TOTAL EXPENDTURE 1132,4121 1135,4161 NEf (LI)11NCoME FOR THE YEAR 2,424 11,S361 RECONCIUATfoN OF FUNDS Total lunds brOhtfOrward 169.923 171,559 TOTAL FVNDSCARRIED FQRWARP 172,347 169.923 The Ststement of Financi81 AvItIeS Includes all salns and losses In theyear and therefore a statsmtht of total reco8nised Bains and losses has not been prepared. All of the above amounts relatÈ to continuin8 artivitie5. The notes on pages 14to 21 form part of these flnanclal ststements 14
Pxusign Envekn ID.. CO3D58E&E91E45D34712OB6F71cQFFl EMI ARCHIVE TRusr STATEMENT OF FINANCIAL POSITION AT31 MARCH 2021 2021 2020 Noi• FIXED ASSEfS Properry, plant & e4uiprnerrt 6.358 8.751 6,358 8.751 CURRENT A55ETS Cash at bank 176.760 161,182 Debtors 4,0 CREOITORS.. amoubtts falllngdu•wlthln one year 114.7711 NETCURRENT AS5Ef5 165.989 16L172 NET ASSETS 172.347 169,923 FUNDS Unrostrictod income funds 172.347 169,923 TOTALFUNDS In,347 159,923 For the year ended 31 Marth 2021 the company was entltled to exernption from audtt under section 477 of thè Companie5A¢t2006 relatingto srnall companies. Trustees, responslblllt5es'. The members have not requlred the company to obtain an audlt of its COUnts for the year in question in accordancewith section 476." and The Trustees acknowledge thelr respon51bllitie5 fr>r complying wlth the requirements of the Art wth respect to accounting record5 arid the preparatlon of accounts. 15
DSdTh Envelw ID" C03D5eE&E81E45DM7128fjF71cOFF1 EMI ARCHIVE TRUSr STATEMENT OF FINANCIAI POSITION As at 31 Match 2021 Icontlnuadl The5efinancial statement5 were approved bythe rnemberst)f the eommlttse and 3uthorfsed for Issue on Dern20, 2021and are signed on their behalf by.. so C•ryn Tornlln50n Chail Company Reglstratlon Number.. 03197688 16
DovJSvJn Envelw19.' CQ%)SBE&E9IE45D$87124tB6F71CFl EMI ARCHIVE TRUST N07ES TO YMÉ FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021 I. ACCOUNnNG POUCIES Basi5 of preparation The flnancSal statements have been prepared In accordance wth Attountlng and Reporting by Chadtles.. ststement of Recommended Practice appliLxble to charities preparing thelr accounts in accordance with Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland IFR51021 (effective l January 20151- 10)arleS SORP IFRS10211 and the Cornpanies Act20C6. The Trust rneets the definition of a public benefit entity under FRS102. The financial statements have been prepared undeT the historical eost convention or trar>sactJon value unless otherwlse ststed In the relevant 4ccovntin8 wlicy notelsl. Cash fiow stètemènt The Trust has taken advantage of the exemption in FRS102 from the requirement to prepare a cashftow ststernent, a5 It rneet5 the definition of a small company under the Companles Act 2006. Fund accounting The general fund tornprises those monie5 which may be used towards rneengthe charitsble objectlvesof the Trust at the discretion of the directws. Expenditure Dlre¢t th8rft8ble expenditijre con)prises direct expenses Incurred on the defined chaTitsble purposes of the company. Administrative costs indude expenditure incurred on 8eneral administration, management and mpllance vAth constitutlonal and statutory requlrements. Income All Income Is credited to the staternent of financial activbtles on an accrual basis. Tax4tio The Trust wa5 granted charltsble status by the Charw Cornml$slon {restratIOn number 10562541 and Is consequenY wthin the exemptions 8ranted to charitles for tsxation purpose The Trust Is consldered to pass the tÈst5 set out in Paro8raph I Sthedule 6 Finance Act 2010 and therefore it meets definition of a ehar£table £ornpany for UK corporation tsx purposes. Accordln8ly, The Trust Is exempt from taxation In respect of Income or Cap81 galns re¢eived wthln categories covered by Chapter 3 Part 11 Corporèt(on Tax Art 2010 or Section 256 of the Taxation of Char8eab1e Gains Aet 1992, to the Èxtent that su¢h Intotne or gain5 are applied exclusiyely to charitsbie purpose 17
Docusban Envdope ID.. C03D58E&E91E450>8712-OC88F71CDFFI EMI ARCHIVE TRUST NOTES TOTHE FINANaAL STATEMENTS Iconttnuedl YEAR ENDED 31 MARCH 2021 I ACCOUNTING POUOES Iwrflnu•dl Tanglble fixed assets Tangible fixed assets are stated at cost less accumulated depreaation and accumulated Impairrnent losse5. DeprecFation Equlpment 5 years stralght Ilne The carryirtg value of tanglble flxed assets are reviewed for impairrnent in periods if event5 or changes in clrcumstances indicate the carrying value may not be recoverable. Donatlon of archive material EMI Group Limited and its subsidiary undertaknng5 have donated archive material to The Trust, h¢)wever while OWnehIp of the assets has passed to the company, the donor cornpanies have retained incoFne producing rights. On this basis it has been concluded that the glfts have no direct cornmercial value to theTru5t. DONATIONSAND LEGACIES Umestrfcted Funds Total Fund5 2021 Total Fund5 2020 Don10Th5 DonationsTeceDied 39,836 39,836 58,780 Donated SeCeS and facilitTe5 95.000 95.0 95,0ts) 134,836 134,836 131,780 In retum for an annual rent of £10, Unlverl Music Group Internatlonal Limited I"UMGI"I provides accommodation and servlces for the administration of The Trust. Under the terms of the chare$. Staternent of Recomrnended Practice. The Trust records the commerclal benefit of ser¥lces rece5ved frorn UMGI as donated Ser5 and facillties Wlth an equwalent arnount bein8 included a5 expenditure nderapproprfate headings.The benefit reIVed45 detErmined by referenceto the actual cost5 Incurred by UMGI in providing services. Under the terrns of the aBreernont with UMGI, The TN5t 15 paid É35.OLKI worklng Income per annum. 18
ll¢wSkJn Envplope ID.. C03D58EfvE91E45D3.8712QC86F71CDFFI EMI ARCHIVE TRUST NOTES TO THE FINANCIAL5TATEMENTS Icorrtlnuedl YEAR ENDED 31 MARCH 2021 COSTS OF CNAAITABLE AcnvrriE5 BY ACTIVITYTYPE Unre5trtcted Total Fund5 Total Funds 2020 Funds 2ff21 Olrecteharitablo actniity 115,579 115,579 102,162 The costs incurred for dlrect Charable expÈnd1tU were 5,579 on wage5 & 5alarie5 IvTa serw agreement), £24,CK)O on office costs and £36,OOOon rent. GOVERNANCE COSTS Uhtri*d Fd# Total FLsnds 2021 Ttrtal Funds 2020 Prèmises ¢osts 9,463 9,463 15,815 Deproclatl¢ 1393 2,393 2,270 Lggal f¢$$ L8(XJ Consultsncycosts 3.177 3.177 15.169 16,833 16.833 33.254 STAFF COSTS AND EMOLUMENTS None of the staff Is employed dIre¢t by The Trust but are seconded by UMGI underthe serwce agreernent. None of theTrustee5was remunerated for5ervices rendered to the charity- 19
Dowslgn Enwdopo ID." ¢03D56EW1E45D>6712-OCB6F71COFF1 EMI ARCHIVE TRUST NOTESTO THE FINANaAL STATEMENTS Icontlnudl YEAR ENDED 31 MARCII 2021 PROPERTY, PiANT& EQUIPMENT Plant and Equlpment COST At l April 2020 Additions 11,967 At 31 March 2021 DEPRECIATION At l April 2020 Charge for year 3,216 At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 EBTQR&' Amowitsfallln8du•wlthln on9yr The debtof o £4,0(KJlrs the ¢uryeMyear relatssto a donatlon due frorn UMG12020debtors £nlll. 20
D¢cuSlon Envdope ID". C03D58E6.E91E45D>8712JJCB6F71CQFF1 EMI ARCHIVE TRUST NOTES TO THE FINANCIALSTATEPIIENTS Icontlnugdl YEAR ENDED 31 MARCH 2021 CREDITORS Amounts f•lllng due ¢)ne y••r Ac¢rua15 of £14.771 in the current year relates to rental expense£lO and salary expen5e5 £14.76112020 accrual EIOI. UNRESTAICTeD INCOME FUNDS IN18 OuwinK B•l•nté at resources 31 March 2021 I1 2020 General Funds 169,923 134,836 1132A121 172.347 8alanc• at Incomkn8 resources OutgoiTr8 resou5 Balanc8 at IApril 2019 31 March 2020 GeneFal Funds 171.559 133,780 1135,4161 169.923 10. POST 8AiANCE SHEETEVENTS There has not arfsen In the Interval between the end of the finatt¢I year and the date of th15 report any rcem,tran5actionor event of a rnaterial and unUSal Tratur•likaly. in the opinion of th8Trustsè8of The Trust, to afft 518nificantlyTheTrJ5t in future ygars. 21