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##
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##
##
|
for the Year Ended 31 Decemb|er 2020||||||
|---|---|---|---|---|---|---|
||||||31.12.20|31.12.19|
|||Unrestncted|Restricted|Endowment|Total|Total|
|||fund|funds|fund|funds|funds|
||Notes|||K|E||
|INCOME AND ENDOWMENTS|FROM||||||
|Donations and legacies||40,785|||40,785|67,453|
|Investment
income||||15640|15640|23,668|
|Total||40,785||15,640|56,425|91,121|
|EXPENDITURE ON|||||||
|Raising funds||914|||914|3,345|
|Charitable
actlvines|||||||
|Charita hie||165,817|||165,817|102,365|
|Total||166,731|||166,731|105,710|
|NET INCOME/(EXPENDITURE)||(125,946)||15,640|(110,306)|(14,589)|
|Transfers between
funds|16|110786||I
~10786|||
|Net movement
In funds||615.1606||(95,146)|(110,306)|(14,589)|
|RECONCILIATION
OF FUNDS
Total funds brought
forward
TOTAL FUNDS CARRIED
FORWARD||59,870
&1710|1,548,655
1548655|620,903
2,229,428
2,244,017
525757»»5|||
##
##
|31 December|2020||||||||
|---|---|---|---|---|---|---|---|---|
||||||||31.12.20|31.12.19|
|||||Unrestncted|Restricted|Endowment|Total|Total|
|||||fund|funds|fund|funds|funds|
||||Notes|||K|E||
|FIXED ASSETS|||||||||
|Tangible assets|||10|||||157|
|Heritage assets|||II|80,151|1,548,655||1,628,806|1,630,954|
|Investments|||12|||525 757|525 757|620,903|
|||||80,151|1,548,655|525,757|2,154,563|2,252,014|
|CURRENT ASSETS|||||||||
|Stocks|||13|3,990|||3,990|3,345|
|Debtors|||14|5,206|||5,206|7,082|
|Cash at bank|and|in hand||10529|||10529|1,611|
|||||19,725|||19,725|12,038|
|CREDITORS|||||||||
|Amounts
falling due within one|||||||||
|year|||i5|(55,166)|||(55,166)|(34,624)|
|NET CURRENT|ASSETS|||~35.4!1)|||~35.4!1)|~22.586)|
|TOTAL ASSETS LESS||CURRENT|||||||
|LIABILITIES||||44,710|1,548,655|525,757|2,119,122|2,229,42B|
|NET ASSETS||||44 710|1 040 655|525 757|2 119122|2229 420|
|FUNDS|||16||||||
|Unrestricted
funds|||||||44,710|59,870|
|Restricted
funds|||||||1,548,655|1,548,655|
|Endowment
funds|||||||2|620,903|
|TOTAL FUNDS|||||||2 119122|2 229428|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|INVESTMENT INCOME|||||
|---|---|---|---|---|
||||31.12.20|31.12.19|
|Investment
income|||15640|23 668|
|NET INCOME/(EXPENDITURE)|||||
|Net income/(expenditure)||is stated after charging/(crediting):|||
||||31.12.20|31.12.19|
||||E||
|~epreciation
-owned|assets||157|208|
##
##
|STAFF COSTS||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||2020|2019|
|Gross salaries|(inc redundancy)|||||||||15.151|16,151|
|Employer
NIC||||||||||257|257|
|||||||||||15,408|15,408|
|The average|monthly||number||of employees||dunng|the year was as follows:||||
|||||||||||31.12.20|31.12.19|
|Management||and administration||||||||2|2|
|No employees||received||emoluments||in excess of 560,000.||||||
|COMPARATIVES||FOR|THE|STATEMENT||OF FINANCIAL||ACTIVITIES||||
|||||||||Unrestricted|Restricted|Endowment|Total|
|||||||||fund|funds|fund|funds|
|INCOME AND|ENDOWMENTS||||FROM|||||||
|Donations
and||legacies||||||67,453|||67,453|
|Investment
income||||||||||23,668|23,668|
|Total||||||||67,453||23,668|91,121|
|EXPENDITURE|ON|||||||||||
|Raising funds||||||||3,345|||3,345|
##
|o the Financial Statements
- continued
Year Ended 31 December 2020|o the Financial Statements
- continued
Year Ended 31 December 2020|o the Financial Statements
- continued
Year Ended 31 December 2020|o the Financial Statements
- continued
Year Ended 31 December 2020||||||
|---|---|---|---|---|---|---|---|---|
|COMPARATIVES
FOR THE STATEMENT OF FINANCIAL||||ACTIVITIES - contInued|||||
|||||Unrestricted|Restricted||Endowment|Total|
|||||fund||funds|fund|funds|
|||||||||8|
|Charitable
activities|||||||||
|Charitable||||102,365||||102,365|
|Total||||105,710||||105,710|
|NET INCOME/(EXPENDITURE)||||(38,257)|||23,668|(14,589)|
|Transfers between|funds|||10.080|~15.000i||4,920||
|Net movement
In funds||||(28,177)||(15,000)|28,588|(14,589)|
|RECONCILIATION
OF FUNDS|||||||||
|Total funds brought|forward|||88,047|1,563,655||592,315|2,244,017|
|TOTAL FUNDS CARRIED FORWARD||||59 870|I|548 655|620 903|2 229 428|
|ANALYSIS OF CHARITABLE||ACTIVITIES|||||||
||||||||31.12.2020|31.12.2019|
|Staff costs|||||||14,769|15,408|
|Insurances|||||||2,590|3,494|
|Telephone|||||||969|2,463|
|Advertising||||||||40|
|Consultancy
fees|||||||2e,e2e|48,000|
|Building expenditure||||||||2,204|
|Keyboard
maintenance|||||||1,808|10,220|
|Concert expenses|||||||10,557|14,797|
|Rent expenses|||||||16,931|20,192|
|Legal fees|||||||||
|Accountancy
fees|||||||8,900|6,400|
|Office assistance||||||||1,643|
|Office equipment|maintenance||and stationery||||1,128|75|
|Computer
and website|||||||3,961|3,290|
|Bank charges|||||||586|638|
|Purchases|||||||16|675|
|Turll rig
Governance
costs|||||||4,707
2,850|14,022
2,260|
|Professional
fees|||||||1,768|7,000|
|Loss on sale of investments|||||||65,346|(52,811)|
|Depreciation
of tangible||fixed assets|||||2,305
* 8|2,355
102,365|
|The Cobbe CollectIon
Trust|The Cobbe CollectIon
Trust||||
|---|---|---|---|---|
|Notes to the Financial Statements||- continued|||
|for the Year Ended 31 December||2020|||
|9.|GOVERNANCE
COSTS||||
||||31.12.20|31.12.19|
||Independent
examiners|fees|1,050|1,000|
||Preparation
of financial statements||1,710|1,260|
|||||2,260|
|10.|TANGIBLE FIXED ASSETS||||
|||||Computer|
|||||equipment|
||COST||||
||At
I January
2020 and 31 December 2020|||~17100|
||DEPRECIATION||||
||Al
I Januory 2020|||16,943|
||Charge for year|||157|
||At 31 December 2020|||17,100|
||NET BOOK VALUE||||
||At 31 December 2020||||
||At 31 December 2019|||157|
|11.|HERITAGE ASSETS||||
|||||Total|
||MARKET VALUE||||
||At
I Jonuary 2020 and 31 December 2020|||1 672 585|
||PROVISIONS||||
||At
I January
2020|||41,631|
||Charge for year
At 31 December 2020|||2 148
437 9|
||NET BOOK VALUE||||
||At 31 December 2020|||1 628 806|
||At 31 December 2019|||1 630954|
##
##
##
|||||||||31.12.20|31.12.19|
|---|---|---|---|---|---|---|---|---|---|
||Coutts
&Co|||||||525,757|620,903|
|13.|STOCKS|||||||||
|||||||||31.12.20|31.12 19|
|||||||||E||
||Stocks|||||||~3990|~3345|
|14.|DEBTORS:AMOUNTS|||FALLING DUE WITHIN ONE YEAR||||||
|||||||||31.12.20|31.12.19|
|||||||||E||
||Trade debtors||||||||321|
||VAT|||||||1,908|3,463|
||Prepayments||and accrued income|||||3298|3,298|
|||||||||~5206|~7082|
|15.|CREDITORS: AMOUNTS||||FALLING DUE WITHIN ONE YEAR|||||
|||||||||31.12.20|31.12.19|
|||||||||E||
||Trade creditors|||||||24,016|212|
||Socia security||and|other taxes||||51|21|
||Other creditors|||||||1,279|1,187|
||Accruals and||deferred||income|||29,820|33,204|
|||||||||55 166|~34 624|
|16.|MOVEMENT
IN||FUNDS|||||||
||||||||Net|Transfers||
||||||||movement|between|At|
|||||||At 1.1.20|in funds|funds|31.12.20|
||||||||E|||
||Unrestricted|funds||||||||
||General fund|||||59,870|(125,946)|110,786|44,710|
||ResMcted funds|||||||||
||Broadwood|trust fund||||25,000|||25,000|
||Alee Cobbe|trust fund||||236,355|||236,355|
||Donated
instruments|||fund||1.207 3M|||1.207 3M|
|||||||1,548,655|||1,548,655|
||Endowment|funds||||||||
||Endowment|Fund||||620,903|15,640|(110,786)|525,757|
||TOTALFUNDS|||||2229420|~990304||2 119122|
##
##
|Net movemen|t
in fund|s, incl|uded
in the abov|e are as fo|llows:||||
|---|---|---|---|---|---|---|---|---|
|||||||Incoming|Resources|Movement|
|||||||resources|expended|in funds|
|Unrestricted
funds|||||||||
|General fund||||||40,785|(166,731)|(125,946)|
|Endowment
funds|||||||||
|Endowment|Fund|||||15,640||15,640|
|TOTAL FUNDS||||||56425|~166731)|~110306)|
|Comparatives|for movement||in funds||||||
|||||||Net|Transfers||
|||||||movement|between|At|
|||||At|1.1.19|in funds|funds|31.12.19|
|Unrestricted
funds|||||||||
|General fund||||88,047||(38257)|10,080|59,870|
|Restricted funds|||||||||
|Eroadwood|trust fund|||25,000||||25.030|
|Alee Cobbe|trust fund|||236.355||||236,355|
|Donated
instruments||fund||1,287,300||||1,287,330|
|Monument
trust fund|||||15,000||15,000||
|||||1,563,655|||(15,000)|1,548,655|
|Endowment
funds|||||||||
|Endowment
TOTALFUNDS|Fund|||592,315
22
0»||23,668
~89|4,920|620,933
2 229 428|
|Comparative|net movement
in funds, includ|ed
in the above are as follows:|||
|---|---|---|---|---|
|||Incoming|Resources|Movement|
|||rcso urea s|cxpcndcd|in funds|
|Unrestricted|funds||||
|General fund||67,453|(105,710)|(38,257)|
|Endowment|funds||||
|Endowment|Fund|23,668||23,668|
|TOTAL FUNDS||91 121|~105710)|~14589)|
##
##
|A current ye|ar 12mon|ths
and prior yea|r 12months com|bined
p|osition
is as follows:|||
|---|---|---|---|---|---|---|---|
||||||Net|Transfers||
||||||movement|between|At|
||||At 1.1.19||in funds|funds|31.12.20|
||||||E|||
|Unrestricted|funds|||||||
|Gerieial
lund||||88,047|( I 64,203)|120,866|44,710|
|ResMcted funds||||||||
|Broadwood|trust fund|||25,000|||25,030|
|Alee Cobbe|trust fund||236,355||||236,355|
|Donated
instruments||fund|1,287,300||||1,287,300|
|Monument
trust fund||||15,000||15,000||
||||1,563,655|||(15,000)|1,548,655|
|Endowment|funds|||||||
|Endowment|Fund||592,315||39,308|(105,866)|525,757|
|TOTALFUNDS|||22|517|~724595||2 119 122|
|A current y
as follows:|ear 12 months and pnor year 12|months combined
net movement
in fu|nds, included
in|the above ar|
|---|---|---|---|---|
|||Incoming|Resources|Movement|
|||resources|expended|in funds|
|Unrestricted|funds||||
|C en era I fund||108,238|(272,441)|(164,203)|
|Endowment|funds||||
|Endowment|Fund|39,308||39,308|
|TOTAL FUNDS||~147546|~272 441)|~124895)|
##
##
|Endowment|Endowment|Fund:||Tte expendable
endowment
fund was created
in|order to ensure the|order to ensure the|long|
|---|---|---|---|---|---|---|---|
|||||term future ofthe Charity. The intention
is that once the fund
is at the||||
|||||planned
level of 84,000,000the investment
income|generated
will be|||
|||||sufficient to cover annual
expenditure
without reliance on donated||||
|||||income.||||
|Broadwood||Trusl;||Tte Broodwood
Trusl represerils
funds received
for|Ihe acquisiliori
ol u|||
|||||Grand Pianoforte
by John Broadwood
&Sons, London 1816.||||
|Alee Cobbe Fund;||||Tle Alee Cobbe Fund represents
money donated
to the Charity
by Alee||||
|||||Cobbe, but does not reflect the value of instruments|which he donated.|||
|||||The fund was established
to give the Trustees an enabling
fund for such||||
|||||improvements
to the Collection,
but with particular|regard to its setting, as|||
|||||might not be considered
to be a main call on the|income provided|by||
|||||Donald
Kahn for running
the Collection.||||
|Adopt an|instrument||Fund:|Tl e Adopt an instrument
Fund was set up in 2011 for the purpose of funding||||
|||||maintenance
expenditure
for individual
instruments.|Any balance|||
|||||remaining
represents
unspent
restricted
donations|received
for this|||
|||||purpose.||||
|Monument||Trust Fund:||Ti e Monument
Trust Fund represents
funds received as a contribution|||to the|
|||||costs of employing
the concert manager.||||
|~onated|Instrument||Fund:|Ti e Donated
Instruments
Fund represents
the value|of keyboard
instruments|||
|||||donated
to the Charity between
1998and 2001 by Aec Cobbe, the||lliffe||
|||||Family Trust and Dr Vernon Hamson.||||
|RELATED PARTY DISCLOSURES||||||||