| Contents | |
|---|---|
| Page | |
| Charity Reference and Administrative Details | 1 |
| Trustees' Annual Report | 2 |
| lndependent Auditor's Report | |
| Statement of Financial Aciivities | I |
| Balance Sheet | 10 |
| Statement of Cash Flows | 11 |
| Notesto the Financial Statements |
| Charity registration number | 1062836 |
|---|---|
| Trustees | MrWJFMalings |
| MrCJ Edgerton | |
| MrICatling | |
| Mr M SWood | |
| Mr SJ Oliver | |
| Mr BM Bennett(Relned2910912022) | |
| Administrator | Mrs C R Perry |
| DeputyAdministrator | l\,4rsSJ Goddard |
| Regasteredoflice | 32 Chipstead Station Parade |
| Chipstead, Surrey | |
| CR5 3TF | |
| Auditor | Nichols&Co (Accountancy)Ltd |
| Unit7Mulberry Place, PinnellRoad | |
| Eltham, London | |
| SEg 6AR | |
| Solicitor | gunnercookeLLP lCornhill |
| London | |
| EC3V3ND | |
| Bankers | Lloyds Bank Plc |
| 64 High Street | |
| Epsom, Surrey | |
| KT19 8AT | |
| lnvestmentmanagerS | Barclays Bank UKPLC |
| 1Churchill Place | |
| London | |
| E14 sHP | |
| PropertyAdvisers | Huggins, Edwards&SharpLLP |
| Apex House | |
| 10West Street | |
| Epsom, Surrey | |
| KT18 7RG |
The Humphrey Richardson Taylor Charitable Trust
Independent Auditor's Report
Year Ended 31 December 2022
Because ofthe inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This
risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to[fraud] rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council's website at: https:[//wwaw] fro.org.uk/Our-Work/Audit/Audit-and-assurance/Stan $ juidance/Standards-andaudit.espx. This description forms part of our auditor's report.
Use of our report
This report is made solely to the Charity’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations[2008.] Our audit work has been undertaken so that we might state to the Charity’s Trustees those matters we are required to state to them[in] an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have[formed.]
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NWdha A Chesney ) tad (4/022 |
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Nichols[&] Co (Accountancy) Ltd Chartered Accountants and Statutory Auditors
Unit 7 Mulberry Place, Pinnell Road Eltham, London SES 6AR
| Unresrid€dRestdctedEndownent | Unresrid€dRestdctedEndownent | Unresrid€dRestdctedEndownent | 2022 |
2021 | ||
|---|---|---|---|---|---|---|
| Flnds Funds €TLL |
Funds | Total | Total e |
|||
| lncome and endowrnentsfrom: | ||||||
| lnvestments | 522,532 | 522,532 | 711,820 |
|||
| Totalincome andendowments | 522.532 | 522,532 | 711.820 |
|||
| Expenditure on: | ||||||
| Raising funds | ,732 | - | u,732 | 54,737 | ||
| Charitable activities | 4 | 612,340 | - | 612,UO | 420,778 | |
| Other | 60,388 | - | 60,388 | 55,910 | ||
| Totalexpenditure | 727.460 | 727.460 | 531,425 | |||
| Net(expenditure)/incomebefore | (204,928) | (2U,928) | 180,395 | |||
| inYestments | ||||||
| Net(lossesygainsoninvestments | (608,171) | (608,171) | (3,294,597) | |||
| Net(expenditure)rincome | (813,099) | (813,099) | (3,114,2021 | |||
| Transfersbetweenfunds | ||||||
| Otherrecognisedgainsr(losses) | ||||||
| Netmovement infunds | (813,099) | (813,099) | 13,114,202' | |||
| Reconciliationoffunds: | ||||||
| Total funds brought forward | 12,405,120 | 12,405,120 | 15,519,322 | |||
| Totalfundscarriedforx/ard | 11,592,021 | 11,592,021 | 12A05j20 |
| 2022t | 2021 € |
||
|---|---|---|---|
| Fixed assets | |||
| Tangible assets | 12 | ||
| lnvestments | 't3 | 11,573,861 | 12,O95,922 |
| 11573361 | 1ZOg/s,9n | ||
| Current assets | |||
| Debtors | 14 | 29,447 | 122,460 |
| lnvestments | '15 | '10,332 | 13,O32 |
| Cash at bank and inhand | 449,'t49 | 564,486 | |
| 528,968 | 699,978 | ||
| CreditoF:amountsfallingduewlihlnoneyear | 16 | 510,808 | 390,780 |
| Netcurrentassets | 18,160 | 309,198 | |
| Total assets lesscurrent liabilities | 11,592,021 | 12,405,120 | |
| Provisions for liabilities | |||
| Netassets | 11,592,021 | 12,405,120 | |
| CharityFunds | |||
| Unrestricted funds | 11,592,021 | 12,405,120 | |
| TotalCharity Funds | 11,592,021 | 't2AO5iO |
| 2022 | 2021 | ||
|---|---|---|---|
| Note | € | E | |
| Cashflow from operating activities | 18 | (567,06E) | (518,551) |
| lnterest paid | |||
| Netcashflow fromoperatingactivitles | Eqzpqq) | --r@ | |
| Cashflow from investing activities | |||
| Payments to acquire investments | (100,000) | ||
| Receipts from sales of investments | 13,890 | 18,469 | |
| lnterest received | 4,952 | 4,531 | |
| Oividends and bond income received | 158,200 | 139,625 | |
| Rents receivedfrominvestmentpropefties | 41'1,989 | 450,510 | |
| Netcashflow from investing activities | 489,031 | 613,135 |
|
| Cashflow trom financing actlvities | |||
| lnterest paid | |||
| Netcashflow from financing activities | |||
| Net(decrease)fincreaseincash and cashequivalents | (78,O37|,5U | ||
| Cashand cashequivalenGat'lJanuary | 577,518 | 482,9U | |
| Cashand cashequivalentsat31December | 499,481 | 577,518 | |
| Cashand cashequivalents consistsof: | |||
| Cash at bank and in hand Cash heldbyinvestment adviser |
489,149 10,332 |
564,486 13,032 |
|
| Cashand cashequivalenGat3lD€cember | 499,481 | 577,518 |
| lncomefrom investments | |||
|---|---|---|---|
| 2022t | 2021 e |
||
| Dividends and bond income | 158,200 | 139,625 | |
| lnterest - deposits | 549 | 144 | |
| Compensation income | '1,'t84 | 4,340 | |
| Rental income | 362,036 | ||
| Other income | 563 | 43 | |
| 522,532 | 71 | "1,82A |
| lnvestmentmanagementco | sts | |||
|---|---|---|---|---|
| 2022 f |
2021t | |||
| lnvestment managerfees lnvestmentpropertycosts Professional fees investment |
properties | 16,196 3,444 6,154 |
16,843 600 |
|
| Property agents commission | 28,538 | 34,903 | ||
| 54,732 | -5!13? | |||
| Analysisofexpenditureon | charitable activities | |||
| 2022 | 2021 | |||
| t | L | Total L |
Totall | |
| lndividuals Schools Partner Organisations Societies |
i8,932 326,865 111,488 95,055 |
78,932 326,865 111488 95,055 |
59,559 223,637 68,500 69,082 |
|
| 612,340 | 612.340 | 420.778 |
| Allocationofsupport costs | |||
|---|---|---|---|
| 2022t | 2021 € |
||
| Governance Staff costs Office costs(incl- rent) |
6 11 |
12,627 33,750 14,011 |
9,366 32,000 14,544 |
| 0!,3q8 | E1o |
| Govelnance costs | |||
|---|---|---|---|
| 2022 | 2021 | ||
| e | e | ||
| Trustee expenses Auditor's remuneration |
10I | 3,516 8,200 |
919 7,600 |
| lndemnity insurance for Trustees and employees | 911 | u7 | |
| 12,627 | 9,366 |
| Analysisofgrants | |||||
|---|---|---|---|---|---|
| Granrsro | 2022 | ||||
| sodetiesTotal | |||||
| e | e | f | LE | ||
| Capitalprojects Concerts |
100,000 | 22.739 | 3,875 91,180 |
103,875 113,91S |
|
| Tuition fees | 27,O52 | 150,050 | 7,850 | - | 144,952 |
| Bursaries/Scholarships | 28,410 | 5,000 | 75,550 | - | 108,960 |
| lnstrument&equipment purchases | 23,470 | 71,815 | 5,349 | - | 100,634 |
| 78,932 | 326,865 | 111,488 | 95,055 | 612,340 |
| ecipients ofgrants: | ||||
|---|---|---|---|---|
| Unrestricted Funds EI |
Restricted Funds |
Total 2022 E |
Total 2021I |
|
| Grantsto lnstitutions | ||||
| Capitalprojects | ||||
| Brockham Choral | 3,875 | 3,875 | ||
| Carshalton Boys Sports College | 100,000 | 100,000 | ||
| 103,875 | 103,875 |
| totheFinancialStatements Ended 3'l December2022 |
||||
|---|---|---|---|---|
| UnrestrictedRestricted Funds Funds |
Total 2022 |
Total 2021 |
||
| .c | LT | |||
| Concefts Banstead Arts Festival Banstead Musical Society Baseless Fabric Theatre Bookham Choral Society Brockham Chorai Society Burgess Hill Choral Society Burgess Hill Symphony Orchestra Chantry Singers Children's Concerts Cirrus Academy Trust Croydon Bach Choir CroydonSymphonYOrchestra Dorking Chamber Orchestra Dorking Choral Society Dorking Philharmonia Egham & DistrictMusic Club Egham Choral ELOC |
4,000 4,000 2,500 2,500 3,500 4,500 1,500 3,000 2,OOO 2,000 2.000 3,000 500 3,000 2,000 |
4,000 4,000 2,500- 2,500 3,500 4,500 1,500 3,000- 2,OOO 2,000 - 2,000 3,000 500 3,000 2,000 |
3,000 3,000 2,000 3,000 5,000 1,500 1,U5 2,000 1,500 3,000 2,000 3,000 |
|
| English Arts Chorale Epsom Chamber Choir Erato Society Farnborough Symphony Orchestra Farnham & Bourne Choral |
1,000 2,000 500 2,AOO |
1,000- 2,000 500 2,800 |
r,000 | |
| Guildford Chamber Choir Guildford Music Society Guildfordopera HillSingers Holmbury St Mary ChoralSociety Horsley Choral lmagineThatProductions Kingston Orpheus Choir KangstonChoral Leatherhead Choral Society Oakleaf Enterpnse-EveryoneChoir Redhill&Reigate |
3,000 5,000 3,000 1,000 4,630 3,000 2,500 2,000 1,000 1,000 |
3,000- 5,000 3,000 1,000- 4,630 3,000 2,500 2,000 1,000 1,000 |
3,000 5,000 2,000 3,070 2,000 1,000 2,000 |
|
| Music & Drama Festival Redhill Sinfonia |
3,000 | 3,000 | 3,000 | |
| Reigate&Redhill ChoralSociety Surrey HeathSingers Surrey Opera Surrey Philharmonic Society Sussex Chorus Sutton Music Festival |
2,000 2,000 3,000 2,000 2,000 3,500 |
2,000 2,000 3,000 2,000 2,000 3,500 |
1,500 2,000 3,500 |
|
| Sutton Music Service Sutton Symphony Orchestra Vaughan Williams Singers Wimbledon Chamber Choir |
11,239 3,000 2,000 1,750 |
11,239 3,000 2,000 1,750 |
3,000 1,000 |
| Ended3'lDecember2022 | ||||
|---|---|---|---|---|
| UnrestrictedRestricted Funds Funds €e |
Total 2022 tf |
Total 2021 |
||
| \Mmbledon Symphony Orchestra | 1,000 | 1,000 | ||
| Woking Symphony Orchestra YESPA |
2,000 3,000 113,919 |
- - |
2,000 3,000 113,919 |
- 63,615 |
| Tuitionfees | ||||
| Abbey Primary | 1,884 | 1,884 | ||
| All Saints Primary Ark Blake Academy BurgessHillAcademy Carshalton Boys Sports College Dorchester Primary School |
13,732 13,000 6,618 6,480 2,166 |
13,732 13,000 6,618 6,480 2,166 |
15,510 1,634 6,4',13 2,300 |
|
| English National Opera | - | 2,500 | ||
| Glebelands School Glenthorne High School GreenWrythe Primary Harris AcademyWmbledon |
27,OOO 4.400 12,000 |
- 27,000 4,400 12.000 |
5,092 24,7't3 4,400 6,500 |
|
| Howard of Effingham Linden Bridge School Minster Junior |
684 3,277 8,276 |
684 3,277 8.276 |
5,040 8,960 |
|
| Oasis Academy Shirley Overton Grange School Reigate School |
1,225 7,265 8,559 |
7.265 8,559 |
8,090 5,395 |
|
| Riverview Primary Robin Hood Junior School Rushy Meadow Primary |
1,282 5,738 7,681 |
1,282 5,738 7,681 |
2,350 7,681 |
|
| Sandcross School Shirley High School |
2,280 5,531 |
2,2AO 5,531 |
7,440 | |
| StGeorge's Primary | 4,487 | 4.487 | ||
| Sutton Music Service | 7,850 | 7.850 | ||
| Tolworth Girls | 6,422 | 6,422 | ||
| Wallington Primary Woodmansterne Primary School |
1,050 (987) '157,900 |
- | 1.050 (987)1,68e 157,900115,707 |
|
| Bursaies/Scholarships | ||||
| NYCGB NYO |
2,050 6,000 |
2,050 6,000 |
3,000 | |
| Soulhbank Sinfonia RCM |
9,000 38,000 |
9,000 38,000 |
36,500 | |
| ENO | 2,500 | 2,500 | ||
| Yehudi Menuhin University of Surrey |
5,000 18,000 |
5,000 18,000 |
'18,000 |
| Ended31December 2022 | ||||
|---|---|---|---|---|
| Unrestricted Funds fl |
Restricted Funds |
Tolal 2022i |
Total 2021 € |
|
| lnstrument and equipment purchases | ||||
| Blenheim High School | 1,800 | |||
| BurgessHillAcademy | (1,4s2) | (1,452) | 1,985 | |
| Collyers College | 1,622- | 1,622 | ||
| Coombe Girls School | 6,000 | |||
| Grey Court School | 13,952 | 13.952 | 42,500 | |
| Hackbridge Primary | 661 | 661 | ||
| Harris AcademyWmbledon | 865 | 865 | 5.100 | |
| Hollyfield School Holmesdale lnfants |
9,981 | 9,981 | ,ri | |
| Howard of Effingham | 529 | 629 | ||
| Meath Choir | 504 | |||
| Merstham Park School | fi,28; | ,r,ru) | ||
| Minster Junior School | a,oua | |||
| Nightingale Academy | 1,750 | 1,750 | ||
| Oaks Park High School Reigate School |
1,324 | 1,328 | ,r*: | |
| Richmond MusicTrust | 5,349 | 5,349 | ||
| Riddlesdown College | 24,420 | 24,420 | ||
| Robin Hood lnfant School | 358 | 358 | ||
| Rushy Meadorfl Primary Sherwood Park School |
"r, | "t | 4,000 | |
| StAndrews School | 5,000 | |||
| Sutton Grammar | 29,500 | |||
| Tadworth Church | 10,000 | |||
| VaughanWlliamsSingers | 8 | |||
| Wallace Fields Junior School | 417 | |||
| 77,1U | 77,1U | 124,397 | ||
| Total grantsto institutions | 533.408 | 361,219 | ||
| Grantstoindivlduals | ||||
| Bursaries lnstrument purchases |
24,410 23,470 |
28,410 23,470 |
44,898 14,661 |
|
| Tuition fees and scholarships | 27,052 | 27.052 | ||
| Total grantstoindividuals | 78,932 | |||
| Totalgrantspaid |
| The reimbursementofTruste | es' expenses wasasfollows: | |||
|---|---|---|---|---|
| 2022 Number |
2021 Number |
2022 e |
2021 e |
|
| Travel Other |
5 6 |
3 2 |
1,072 2,444 |
165 754 |
| 3,5't6 | 919 |
| Staffcostsand employeebenelits | ||
|---|---|---|
| 2022 e |
2021I | |
| Wages and salaries | 33,750 | 32,000 |
| Fixed assetinvestments | |||||
|---|---|---|---|---|---|
| Lisred | Prcperv | Total | |||
| lnvestmenls | |||||
| r | f | I | E | ||
| Costorvaluation | |||||
| Al1January 2022 | 5,775.922 | 20 000 | 6300 000 | 12,O95,922 | |
| Additions | 100,000 | 100,000 | |||
| Disposals | (12,500) | (12,500) | |||
| Revaluation | (609,561) | : | I | . | pqe,sqr) |
| At 31 December 2022 | 5,253,861 | 20,000 | 6,300,000 | '11,573,E61 | |
| lmpairment | |||||
| Al'lJanuary2022 | |||||
| Writtenoff | |||||
| Eliminated on disposals | |||||
| At 31 December 2022 | |||||
| Carryingamount: | |||||
| At 31 December 2022 | c,zcJ,oor | 20,000 | 6,300,000 | '11,573,861 | |
| At 31 December2021 | 5,775,922 | 20,000 | 6,300,000 | 12,O95,922 |
| lnvestmentsatfair value comprise: | ||
|---|---|---|
| 2022 | 2021 | |
| e | I | |
| Listed equities | 5,253,861 | 5,775,922 |
| Unlisted investments | 20.000 | 20,000 |
| Property investments | 6,300,000 | 6,300,000 |
| 11"5?3€61 | 't2,o95,922 |
| Debtors | |||
|---|---|---|---|
| 2022, | 2021 e |
||
| Rent deposits | 1,875 | 1,875 | |
| Accrued income | 27,314 | 117,145 | |
| Other debtors | 294 | 3,400 | |
| 29,447 | 122A60 | ||
| All debtors fall due withinoneyear. | |||
| 15 | Current assetinvestmonts | ||
| 2022t | 2021 e |
||
| Cash held by investment managers | 10,332 | 13,032 |
|
| 10,332 | 13,032 |
| Creditors:amountsfallingduewithinone year | ||
|---|---|---|
| 2022 | 2021 | |
| e | E | |
| Other tax and social security | 465 | |
| Other creditors | '160,443 | 160,361 |
| Accruals for grantspayable | 337,332 | 171,156 |
| Accrued expenses | 12,568 | 18,8't0 |
| Prepaid income | 40,000 | |
| sril,abs | 390,780 |
| Accruedfunding commitments | ||
|---|---|---|
| UnderIy€arOv.r1year !l |
Totalt | |
| Al1January 2022 | 't7't,156 | 171,156 |
| Additions during the year chargedtoincome | 612,340 | 612,340 |
| Amounts paid during theyear | (446,164) | (446,164) |
| At 31 December 2022 | 337,332 | |
| Reconciliationof net expenditurotonet cashflow from operating activities | ||
| ,i), | 2021 | |
| L | e | |
| Net (expenditure)i incomeforyear | (813,099) | (3,114,202| |
| Dividends and bond income received | (158,200) | (139,625) |
| Rentreceived ftom investment properties | (411,989) | (450,510) |
| lnterest receivable | (4,9s2) | (4,531) |
| Losses/(gains) on investments | 609,561 | 3,297,334 |
| (Profit)/loss on disposaloffixed asset investments | (1,390) | (2,737| |
| Decrease/(increase) in debtors | 92,973 | (116,168) |
| lncreasd(decrease)increditors | 120,O28 | 11,888 |
| Net cash flow from operating activities | /567068|1518551| |