IHRTCT The Humphrey Richardson Taylor Charitable Trust Financial Statements Year Ended 31•t December 2023 Charlty registration number.. 1(E2836 Th• Humphr•y Rlchardson Taylor Charltable Tru•t Flnanclal Stat•m•nts Y•ar End•d 31 De¢emb•r 2023 Cont•nt• Pago Charity Reference and AdministratNe D8lai18 Tru8tee8' Annual Report Independent Auditor'8 Report Statement of Financlal Activlb88 Balance Sheet Statement of Cash Flow8 Note8 to the Financial Slatements 10 11 12 Tho Humphrey Rlchard•on Taylor ChArftablo Tr￿t Charlty R•f•r•nco and Admlnl•tratlv• D•tall• Year Endod 31 Decambor 2023 Charlty r•gl•tratlon numb•r 1￿2838 Tru8ts•* Mr W J F Malings Mr C J Edgerton Mr I Catling MrMSWood Mr S J Oliver Mrs K Goldsmith Adffllnl•tr•tor Mr8CRPery Doputy Admlnl•trntor Mr8 S J Goddard R•gl•t•rod offlc• 32 Chipstead Stallon P8rad Chlpstead, Surrey CR5 3TF Audltor Nichols & Co (Accountanryl Ud Unll 7 Mulberry Pl8rA, Pinnell Road Eltham. London SE9 8AR 8oll¢ltor gunnercooke LLP 1 Comhlll Lond¢Jn EC3V 3ND Bankorn Lloyd8 Bank PIC 64 High Street Epsom, Surrey KT19 8AT Inv••lm•nt manag•rn Barclay8 Bank UK PLC 1 Churchlll Place London E14 5HP Property Advl•or• Huggins, Edwards & Sharp LLP Apèx House 10 Vlest Street Epsom, Surrey KT18 7RG Th• Humphrey RIGhard8on Taylor Charltabl• Tru•t Trusto08' Annual Roport Year End•d 31 D•c•mber 2023 The Trustees present their annual report and the audited financial statements for the year ended 31st Dècember 2023. The Trustees have adopted the provi8ion8 of thè Statement of Recommended Practice {SORP) 'Accounling and Reporting by Charltie$' In preparing the annual report and financAal statements of the charlty. stN¢tur•, Gov•mane• and Manag•m•nl Mr H R Taylor, who dled In 1996. was devoted to Music all his life and wished to establish a Charity for the advancement of music. The Humphrey Rlchardson Taylor Charitable Trust was in(rJrpoTated under a Tru3t Deed dated the 23rd May 1997 and amendment Deed dated 4th 4)ri12019, and its registration number is 1082836. Of the original Trustee8, Wllli8m John Fortnam Maling8 continued in office until 4th July 2024. New Tru8te88 may be appointsd at any tlme elth8r by way of rnp18cem8nt or Bddillon and whi181 there 18 minimum number of three Trustees, there 18 no maxlmum. Appointments are made by a resolution of meeling ol the Trustees wovlded that a memorandum doclaring 8uch appointment or discharge shall be 8igned as a deed either at a meeting by the person pre8idln9 or In 80me other manner directed by the meellng and attest8d by trwo person8 present at the meeting. Trustees are recrultod elther on pernonal recommendatlon or. vthere appmprlate, through 8dvert181ng. Care Is taken to rnaintoln a balance beiw88n the bu81n888 and music experlenc8 and 8kills contributed by t Tru8tee8. References are taken up on potèntlal Trusle88 and they are required to attend a briefing on the Trust's a¢tivltle8 given by the Administrator, where they are provided with background infonnation, copies of the latest audlted accounts, and the latest Charity Commlssion guidanco. The day-tTrday activlt488 of th• Trust are managod by the Admlnlstrator and the Deputy Admlnlstrator deal with funding applications and correspondence, visits to school8 and other organi8ation$, Fxeparation of report8 for the Trustees and the minut85 of meetings, and maintenance of the account$. The Trustee8 tske all funding de¢ision8 either at their regular meetingi or, more rarely, by email. Tho latter deri$ions are ratlfied by th8 Trustees al 8 8ub88quent meeting. The Trustee8 have reviewed the malor ￿Sk8 faclng tho Trust and taken action to manage th080 riikj. The major ri8k8 are 8 fall in income due to difficuKla8 In the property and finanei81 market8, 88 o¢¢urred in late 2008, 2009 and 2020, and possible employee fraud. The Trustees employ professional advisers lo manage the Trust's signific8nt propety and equrty p￿101108 and meet them regularky to review performance and the advice provided. The possibility of fraud is minimi80d by onty the Tru8te88 being 81gn8torie8 on the bank accounts, and robust bank account securty. In addition, the TfU8tee Indemnity In8urpAce Policy Indude• cover ag8in8t possible employee fraud. The members of the Board of Trustees durfng the year ended 31st December 2023 were.. Mr WJF M81ing8 (rètired as Chairman on 8th February 2￿24 and a8 a Tru8teo on 4th July 2024) Mr CJ Edgerton (appointed 88 Chalmian on 8th February 2024} Mr I Catling Mr MS Wood Mr SJ Oliver Mr$ K Goldsmith (appointed as a Trustee 25th January 20241 11 was with great 88dness that the Trustees accepted Mr W J F Malings's resignation from the board du8 to ill health. Mr Malings was appointed an executor of the late Mr Taylor's will in 1996, was one of the original Trustees appointed in May 1997 and s8N8d a8 Chairman for fourteen years. His expansive kn(Mledge of propety was greatly benefieial to the Trust. he led the board wth viisdom. he showed a keen interest in the bid8 and beneficiaries and showed kindne88, compassion and gratitude to staff and Tnjstees for Ihe work they undertook. The H R Taylor Charitable Trust has much to b8 thankful ft)r from the years of Mr Maling5'8 involvemert Th• Humphrey Rlchardson Taylor Charflabl• Tr￿t Tru•tM•' Annual R•port Ye•r Endgd 31 December 2023 Objoctlvu and Actlvltl•8 for th• Publ1¢ B•n•fft The objectives of the Trust ar8 'th8 advancement of public education In and appre(xation of the art and science of music and allied performing arts (including th8 presentation of public concerts and reutals).. The Trust's 81rn8 ore to ericourage and support music education at state primary, secondary and tertiary levels and to 8eek the continuing p8rlorm8nce of live mu8ic in Society. particularly by amateur perfomiers. Initially, award8 were restricted to organisaiionB ar￿ individual appllcants living in areas adjacent to Cheam, the lifelong home of Humphrey Richardson Taylor, but they have since been extended to cover the historical and goographical area of Surrry and occasionally cther adJa¢￿t area8. The Trust'8 main finandal obl8(X4ve 18 io maintain a balance between exwditure and income whilst giving due diligence to funding projects 8nd malntainlng financial prudence. The Trust does not raise fvnds from the public or employ professional fvnd-raisers. Tha maln areas of advlty pursued by the Tru8t are.. Grants to 8tste 8Ghools for the purchase of mujlcal instrument8, mu81c ¢omputer8 and 8ofrware, music technology 8quipm8nt associated with sound re￿rdIng musiq produdion and live performance and the funding of concert8 for special occa8lon$. Grants 8ra very occasionally made to independent schools. A8618tance In funding of instrumental tuition for c**ildren at State schools (which might indude instrument hire when offered withln the provision), and very occasionally for children ol parents of limited means at Independent 8chool8. Funding of instrumental tuition for children at itats s¢*0018, ond very QCPA$lonally for children of parent8 of Ilmlted means at independent 8th0018. Grant8 toward8 the co8l of building, refurbi3hing or extending mu8ic f8alib'88 at state 8chool8. Funding of mujic stholarships in partnership ￿ryth the University of Surrey, Royal College of Mu81 Eng118h Natlonal Opera, Southbank Sinfonia, Natlonal YoLrth Orcha8tra and the National Youth Choirs of Great Brltsin. Annual grant8 to amateur cholr8 and orche8tra8, and to music Jocl•tie8. to promote the performance of Ilve mu8ic in the TNsV8 area of operation8. Grants towards tertiary study or towards the cost of an Instrument or a¥8ouated equipment for exceptionally talented individuals. The above Should be clearly assoaated bwth, and vtholly necessary for, their intended career in mu81 Where fund8 are granted to ichool8, ihe Truit would nomially expoct a contrlbutlon t￿ardS the cost. Where applicable, benefia8￿89 are requlred to provlde Ovldence that their grant 18 being u8ed approprlately and in accordan￿ with the wlglnal bld. Grants are awardèd on the basis of need and rnerit, case by case. Individual applicants are r8que8ted to provide lull detsils of thelr musical experience, asplrations and financial arcum8tance8. Choir8 and orchestr88 are expe¢Aed to be effirienty run and largely self-financing, a8 eviden&8d by recent annual account5. A visit 15 ahvays made to schools applying for a major grant to detemine the lev81 of musl¢al activity and how the Trust may best provlde a88iStan¢e. School vlsits may often be made to ensure the best use of funding, to see a completed project fijnded by the Trust to See lessons in progre￿ or to watch a perfomian¢e. In the field ol edu¢atlon, the main empha3i8 is on 8UPPOrting the state sector, although limited assistance is very occasionally provided to independent sthools. Publlc Bonefft The TTUStees have referred to the Charity Commission's general guldance on public benefit when reviwlng the Trust's aims and objeth'ves and in planning luiure activities and grant making policy. The Trust's funds are used to womote the study and plawng of musical instruments, including the voice, and are disbursed to deserving applicants - sthools, thoirs, orchestras, other musical socbeties, undergraduate and postgraduate students of music and individuals within the TTUSt's field of operation andlor with a strong link to the area. AJI 5th￿1$ In the Trusfs area of operation are eligible for funding, although the Trust gives priority lo state sthools and, vlthin independeni schools, as far as possible, to children of parenis of limited means, The Humphrny Rlchard8on Taylor Charftabl• Tru•t Tru•tM•' Annual Report Year Endgd 31 Do¢ombor 2023 Support to amateur choirs and orchestras is available to musical societies in the Trust's area of operations and the Trust encour8ges them to make sele¢tiVa U88 ol local young professional performers, both to encourage high 8tsndard8 and to help young local talent embarking on a career in music. A number of mu8ic Scholarships are available, on the recommendation of the institution, to British students at the Royal College of Music {po8tgraduate) and the University of Surrey (undergraduate) and, on prsonal application to the Tru8( to indlvidual 8tudent8 a strong connectlon to the Trust'8 area of operatlon. Prlv•¢y The Trust holds information provided by ccyrespondents se¢urety. It is used 0￿Y a8 required for the smooth operation of the Trust and will never be sold or pa88ed to a third party. AchS•v•ments and Pfrrfomianco As a grant-maklng Trus( expendrture refiects both the lovel of income and the number of viable applica￿On8 received each year. In 2023. renta5 Income and equity dividends were generated throughout the year. Income for the year was £526,551 compared to £522,532 In 2022, Expenditure for the year was £525,818 {2022'. £727.460). Charitable expenditure was spltt betsveen: Schools (£142,711 ftjr musical instrument8 and tuition) Partner organisations, such as the Royal College of Music and music festivals (£104,927) Cholr8, orchestras and other music $odeties1£104,050 In support ol amateur productlons) Individual8 {£23,970 towards th8 development of promislng young musicians in Surrey). Worfd Ev•nts Conflicts in Ukralne and IsraellPalestlne, a8 well a8 global inflatl*Jn, had an impact on the market8. However this was offset to an extent by higher Interest ratos. Hlgh inflatlon and living costs meant that bid amount8 were often increased. The Trustees underslood prudence was Imp￿￿n[ but 8ti11 believed that grants 8hould conllnue to be made vthenever appropriate. Flnanclal R•vl•w Th8 Trust's prlndpal Sources of funding are freehold commercial and r08idential investment properties in Chelsea, London, SW3, lunds quoted on the st￿k exchango, and cash and short-temi bank deposlt6. Th• Tru•t doe8 not •ngag0 In fund ral•lng. The inveslment prop8rt¢8s were extemally valued in December 2021 at a total of £8,300,￿10 and the value Incorporated into the accounts, The TruBtees continued to m¢Mitor other market fluduatlons during the financial year and k8Pt under raviaw their policy of diver8ification lo ensure that it met the Trust's requirements for Income generatlon and capital grovrth and that the retum on Inv88tments W88 88tl8factory. Unre8trfcted funds inve8ted in tangible ￿ed auet8, equitle8 and Investment ryoperties r088 from £11,573,861 to £11,872.986 during the year. Inv••tm•nt Pollcy The Trustees reviewed the balance and nature of thelr Investments In the Ilght ol rates ol retum from pruperty and continulng low Interest rates and carried out an annual review of thelr Invesbnent policy ￿th Barclay8 Wealth. The value of their units in Barclays, Charity Fund (excluding cash held for r￿inveStMent within the portlollo) rose In 2023 from £5.253.861 to £5.552,986. A••ot8 Pollcy The Trusf8 a$8et8 are propety, Charity Fund units and ca6h. It aims in 2024 to generate around 68% of it8 income from a n8t 5.5% retum on its propety holdings, or around £350,0￿, and the remaining 32%, or around £170,000, from a net 3% divldend return on bts Chanty Fund holdings. Its cash holdings are held in reserve Ise8 below) and are expected to genwate only a minimal ratum. Th• Humphr•y Rlchard•on Taylor Charftabl• Trust Truste•8' Annual Roport Y••r End•d 31 DK•mb•r 2023 Ru•rve¥ Pollcy Th8 Trusfs r6setv8s are116 assets, in the first insian¢e ¢ash. It is likely to n6•d lo call on reserve$ il lenanis defaun on their rental payments - as occurred in 2008. 2CK)9 and 2020- or if the stock market experiences a $erlous fall In vttlue and divid¢nds. The Tru8lee5 reviewed the b81ance ai)d nature of the Tfusl's reserves in the liohl ol the need to match Income with variable commitments and decided lo hc4d reserves of £200.000 in interest beanng bul readily realis8ble cash accounts. supplwnentod by o variable amount In a l¢)w Ini¢resl- beanng in3t8nl awss account linked to its cunent a￿o￿nt, topped up as needed by wthdrawals from equity inve5trnwits In Ihe ¢venl of a $h8rp drop in inc(Mne. Their priority remains lo meet demar%d lor Ossentsal 8UPPOrt in ctyè adNitiè$. mu&c tuits'on In icthool8, •cholarships aThd support to ￿nateur ehoifs and orchestraB. Pl•n• for th• Futu Thè Trustees, budgeting VAII reflect bolh the lon*lenn future of the th8rty and thg n•ed tor short-lerm income, in accordance with the Objective8 of the Chairtabie Trust. In 8d¢Jitson lo ils existyng aclivilies, the Trust ￿11 seek 8ctsvely lo incre8se awareness in scho￿1 in rt8 •re8 ol oper8bon ol the availability of lund8 lor major projects, instrument pur¢ha$e$ and tuit1￿. Audltorn During the year. NicholB & Co, Chart•r•d A￿OUnt•￿s. have acted •• auditors to the Trust and have IndI￿ted th•lr wllllngna$s to continue in offi'ce, Tru•t•••' RMpoMlbllttl•• St•t•m•nt The Trustees are responsible for weparlng Ihe Trusiees, AnnuBI Report and the flnandal slalemenls in accordance with 4pplic8ble law and Uniled lQngdoffl A¢wunting Standards IUK Generally Accepted Accounty"ng Practice.) Th• I￿¥ applu￿¢ lo chantrej in England W8les requirfj• the Truit¢¢g to wepar8 financial 8lal•mont8 lor each finanaal year which give a true and fair wew ot the 818te of affairs of the Trusl and the Incorning resource8 and applicabon ol r•sources ol th8 Trust for the peri￿1. In prepanng Ih05e finanoal 8latement$. the Tru8leeJ are require(J lo.. ydect 8uilable accounling polic486 and then apply Iham con8i8tenlly. ob68Ne Ihe methods and principles In Ihe Chanlie$ SORP 2019 IFRS 102). make judgements and e8timale$ that are reasonable and prudent. slate wheth8r applicable •ccounling Standards have been lollow•d. subject to ary mater￿1 departures disclosed and explained In the fin8ncaal stalemenls, prepare the ffnBncial statements on Ihe golng concern ba518 unle55 It 1$ inappioprlate to pre8ume that th• charity wll contsnue in opor8ti+)n. The Trusteej are also fesponsible for keepifYJ proper accounting rec￿18 whlth disdose with rèasonablè accuracy at any tsme the finanual po8ltion of the Trust and enablo them lo ensure Ih81 the finanoal st8lementJ comply wlh th• Charilie$ Act 2011. the Charrties {AcrA>untg and Reports) Regu18tions 2008 and the provisions of the Tru$l Deed. They arè also responwble for safeguarding the assets of the Trust and hence for taking reasonable 8lep8 for the prevention and detectson ol fraud and otheT iTrogul¥ritses. The TTUSteeB are responsible for the maintenance and Integnty of Ihe charity and finanrjal Information included on the Trust's website. Leg1514lion In the United lfjngdom governing the preparatson and dlsserninalion oi finoncial stslemenll may ¢Jiff•r from legislation in olher juriJdi¢ti¢ns. This report was apwo¥ed by the Board of TTustee$ on.. and 81gned on its bohalf by. C J Edgerton Tru51811 The Humphrey RIGhard8on Taylor Charttabl• Trust Ind•p•nd•nt AudltoVs Report Year Endod 31 Dec•m￿r 2023 Ind•p•nd•nt Audltorf• R•port to th• Tru•to•• of Th• Humphr•y Rleh*rd•on Taylor Charltablo Tru•t Oplnlon We have audited the fin8n¢ial 8latement8 of Tho Humphrey RichArdson Taylor Charitable Trust for the year ended 31 st December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Ststement and notes to the finanaal statements, induding significant accounting policies. The financial reporting framework that ha8 been applied in their weparation is applicable law and United Kingdom Accounting Stand8rd8 including Flnancial Reporting Standard 102 "The Finanrial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice). In our opinion the finanaal 8tatement•: give a true and fair view ofthe 8tate of t￿ Tru8t'8 affairs aj at 31st Docember 2023, and of It8 Incomlng r880urce8 and appllrAtlon of re•ourc*B, including It8 income and expendlturo, for the year then ended., have been property prepared In acc￿danc0 wlth Unlted Klngdom Generally Accepted Accountlng Practice., and have been prapared in accordance wth the requlrement$ ofthe Ch8rltle8 Act 2011. Ba•1• for oplnlon We conducted our audlt In aC￿rdanCe Viith International Standards on Audltlng (UK} IISAS {UKI) and appllcable law. Our responsibilrties urKler those standard8 are fiJrther descrlbed In the auditor re8ponsibilits'e$ for tha audit of the finanaal ststements section of our report. We are independent of the Tru8t in ac￿rdance with the ethical requirements that are relevant to our audlt of the financial $tatement8 in Ihe UK, Indudlng the FRC'S Ethlcal Standard, and we have fijlfilled our other ethlcal responsibilities in accordance wilh these requirements. We believe that the audit evidence have obtained is sufficient and appropriate to provide a ba818 for our oplnlon. Con¢lu•lon• r•lallng to golng ¢onc•m In auditing the financial 8tat8ments, we have concluded Ihat the Trustee8' Use ol the g￿n9 concern basis of accounting in the preparation of the financial 8tatement818 approprfate. Based on the work we have perfomied, we have nrrt Identlfied ￿Y matsrial uncertaint￿9 relating to events or conditions that, Indlvidually or collectively, may ¢a8t significant doubt on the Trust's ability to continue as going concern for a period of at least hyelve month8 Irom v*hen the finanrial $tatement8 are authorised for 188Ue. Our responsibilities and the respon8ibllitle8 of the Trustees with respect to going concern are described in the relevant sections of this report. Oth•r Informatlon The other infomation comprises the information induded in the Trustee$, annual ￿port, other than the financial ststements and our auditor's report thereon. The Trustees are responsible f¢x the other informalion. Our OPNnion the financial statement5 does not cover the other infNmation and we do not express any fom of assurance condusion thereon. Tho Humphrny Rlchardson Taylor Charftablo Tru•t Ind•pgndent Audltorf• R•port Year End•d 31 D•cemb•r 2023 Our responsibility is to read the other infomiation and, in dolng so. consider vthether the other informatlon is materially Incon315tent viith the financial statements, or our kn0v*l￿ge obtsined in the Course of the audit or othernwse appears to be matenally misstated. If we identify Such material incon8iStencies or 8pparent rnateri81 mlsstatem8nt8. we are required to detwmine whether this gives rise to a material mi88tatem8nt in the finandal 8tatements themselves. If, based on the work VM have performed, we condude that there is a material mi8$tatement of thi8 Other information, we are requlred to report that fact We have nothing to rewt In th18 regard. Matt•rn on ￿1¢h w• ar• r•qulr•d to r•port by •xc•ptlon We have nothing to report in respecl of the followlng matters in relation to which the Charitie8 (Axounts and Repoth) Regulations 2008 requires u8 to report to you if, In ow oplnion.. tho information given In the Tru8tee8' report Is inconsistent In any materfal r￿pect wrth the financlal 8tatement8', or sufficlent accounting record$ have not beon kept or th8 financlal 8tatement8 are not in agreement wtth the accounting records; or we have not recelved all the infomiation and explanations we requlre for our audlt. Ro•pon•lbllltlM of Tru•tM• explalned more ful￿ kn the Tru8te88' Re8pon81tAiitl88 Statement set out on page 5, the Trustee8 are responsible for the preparation ol the financial statements and for being 8ati8fied that they give a true and falr wew, and for such Intemal control a8 the Trustees d8termin8 18 n8ce88ary to enable the weparation of financjal Statements that are free from material m186tatement vthether due to fraud or error. In preparing the financial statements, the Tru8lee8 are r8tsponBible for a88e88ing the Trust's abillty to contlnua a8 a going concern, disdoslng, a8 applicable, matters related to going concern and using the going concern basis of accounting unless the TruBtee8 either intend to Ilquldat8 the Trust or to cease operation8, or have no re8118tlc altemative but to do 80. Audltorf• mpon•lbllllle• ft>r th• iudlt ol tho flnanclal •tat•m•nl• We have been appointed a8 auditor under Section 144 of the char￿e8 Ad 2011 and report In accordance with the Act and relevant regulation8 made or having effect Ih8reiJnder. Our objectives are to obtain rea8onable assurance abwt whether the financial statements as a whole are free from material misstatement vthether due to fraud or error, and to Issue an auditor's report that includes our opiniori. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance wth ISAS (UK) will aKv8y8 deteci a material misstatement when it exists. Mi8Stat8ments can arise from fraud or error and are considered material if. individually or in the aggregate, tt*.ey could reasonably be expeGted to influence Ihe economic decA8ions of users taken on the basis of these financlal 8tst8m8nts. Irregularities, including fraud. are instance8 of non-compliance viith laws and regulations. We design pro¢edures in line with our resp(￿¥bilItIes, ouuined above, to detect material mi88tatements In respect of irregularities, including fraud. Tho Humphrny Rlchard•on Taylor Ch•rltablo Tru•t Ind•p•nd•nt AudIt0￿* Roport Y•ar End•d 31 D•c•mb•r 2023 Becau88 of the Inherent limitati'ons of an audic there i¥ a risk that we will not detsGt all irregularities, induding those leading to 8 material miBstatement In th8 finanaal 6tat8mants or non-compliance with regulation. This risk increases the more that ¢￿ipliance wlth a law or regulation 18 removed from the events and tran8action8 reflected in the financial 8tat8m8nt8, 88 we wll be les8 likely to become aware of in8tance8 of non compliance. The risk is also greatér regarding irregularities occurring due to fraud rather than error, a8 fraud Involves intentional concealmen( forgery, colluslon, omission or mi8repre8entstion. A further de$uiption of our responsibilities is available on the FRC'S website at.. https.'Ilw*w.frc.org.uklaudrtor81audit-assurancelauditor-Hespon8ibilities-for4h&audit-of-thevfVdescription-of- the-auditor%E2%81YA998-responsibiliti88-for.Thls descriptson forms part of our auditorf8 report. U•• ol our rnport Th18 report 18 made $olely to the Charlty'• TruJtee•, a8 o boty, In accordance vAth Part 4 of tho Charbtie• (Accounts and R8POrtsl Regulation8 2008. Our audlt work has been undertaken so that we mlght stale to the Charlty's Tru8t8e8 th08e matters we are required to Stste to them in an auditor's Teport and for no other purpose. To the full88t extent permrtled by law, we do not 8ccept or a88ume responsibility to anyone other than the Charfty and the Charity'8 Trustoes as a body. lor our audit work, for thls report, or for Ihe oplnion8 we have forrned. Nlchols & Co (Account•ney) Ltd Chart8r8d Accountants and statut¢￿ Audit￿8 Unlt 7 Mulberry Place, 14nnell Road Ettham, London SE9 6AR The Humphroy Rlchardson Taylor Charftable Trust Statom•nt of Flnanclal Actlvltl Y•ar End•d 31 D•c•mbar 2023 2023 Total 2022 Total Fu￿* F￿ F￿dI NfA• Incoin• and endowmonts from: Inve8trnents 526,551 526,551 522,532 Total In¢om• and •ndowm•nt• 528.551 526,551 522,532 Expendlturn on: Raising funds Charrtable actlvltie8 Other 83,482 375,658 86,678 83,482. 375,658 66,878 54,732 612,340 60.388 Total •xp•ndltur• 525,818 525,818 727,460 N•t Incom•l(•xp•ndltur•l bdor• liivo•lm•nts 733 733 (204.928) N•t galn8111o••••) on Inv••tm•nts 315,271 315,271 (808,171) N•t InCom￿leXp0ndI1ur•> 318,004 316,004 {813,0991 Trnn•for• b•twMn funds Oth•r r•cognl••d galn•l(lo••w) Not mov•m•nt In fund• 316,004 316,004 (813.099) Raconclllatlon of fund•: Total funds brought foph3rd 11,592,021 11,592.021 12,405,120 Tolal fund• rArrl•d forward 11.908,025 11,908,025 11,af92,021 All Income and expenditure derlve from contr'nulng activrtie8. The 8tatement of finanaal activities includes 811 galn8 and108se8 recognlsed durlng the year. Th• Humphr•y Rlchardlon Taylor Charfiabl• Trust Balanc• Sh••t Y•ar End•d 31 D•c•mb•r 2023 2023 2022 Flxed a8•et• Tangible assets Investmenls 12 13 11,872.986 11,573.861 11.872.986 11,573,861 Curr•nt a•••t• Debtors Investmènts Cash at bank and in hand 14 15 875 10,437 490.481 29,487 10,332 489, 149 501,773 528,968 Cr•dltor•: amounts l•lllng du• wlthln on• y•ar 18 488,734 510.808 Net curr•nt a•8•ts 35,039 18.160 Total A••el• h•• currnnt Nabllttl•• 11.908,025 11,592.021 Provl•lon• for Il•bllltl N•1 4•4•1• 11,gJ8.025 11,592,021 Ch•rlty Fund• Unrestricted funds 11,908,025 11.592,021 Total ChArfty Fund• 11.908,025 11.592.021 proved by the Board ol Tru8l•e8 on ..￿.: l O :. /. *.. and signed on it• behaw by C J Edgerton Trust•• The note8 on page$ 12 to 26 form part of these finaneial 8tBtements. 10 The Humphrey RIGhardson Taylor Charftabl• Tru•t st•t•m•nt of Cash Flow• Y•ar End•d 31 D•e•mbor 2023 2023 2022 Cash flow from opornllng actlvltl Inter88t pald 18 (541,2801 (587,0681 N•t CA•h flow from op•ratlng actlvltl•• 541,280 567,068 C••h flow from Invo•tlng adlvltl Payments to acquire investments Receipts from sales of Invesknent8 Interest r8celv8d Dividend8 and bond Inc(xne received Rent8 received from inve8tment propertl81 1100,OIJO) 13,890 4,952 158,200 411,989 16,148 5,314 164,952 356,285 N•t ￿•h flow from Inv••tlng actI￿tI•• 542,697 489.031 Ca•h Ilow from flnan¢lng actlvlti Interest paid N•t ca•h flow from Iln•nclng aetlvltl•• N•t Incr•uel(d•cr•a••) In rA•h and ¢a•h •qulv•l•nts 1,417 (78,0371 Cash and c••h •qulv•l•nts •t 1 January 499,481 577,518 Ca•h •nd c••h •qulval•nts at 31 D•¢•mb•r 500,898 499,481 C4•h and ¢••h •qulval•nts con•l•t• of: Cash at bank and In hand Cash held by investment ad￿ser 490.461 10,437 489,149 10,332 Ca•h and ¢a•h •qulv•lont• at 31 D•c•mb•r 500,898 499.481 11 The Humphr•y Rlchardson Taylor Charftabl• Trust Noto• to the Flnanclal Statemants Y•ar End•d 31 D•c•mb•r 2023 3ummary of •lgnlficant aecountlng pollcl IA) G•n•ral Inf0m￿tIon and b••l• of pr•paratlon The Humphrey Richardson Taylor Charitablè Trust is a charity formed under a trust deed In England. The a¢Jdr8ss of the r8glst8red office is glven In the Charlty infomiation on paga 1 of these financial statements. The nature of the Trust's operations and principal adivities are detailed In the Report of the TnJ8toe8 on page 2. The Twst constitutes a Publ￿ benefit entity a8 defined by FRS 102. The finandal stst8m8nts have been prepared in ac￿rdanCe wlth Accountlng and Reportlng by Charitles.. Statement of Recommended Pradice applicable to charities pr&pa￿ng their accounts In accordance wlth the Financial Reporting Standard appllcabl8 In the UK and Republic of Ireland issued in October 2019, the FinancAal Reporting Standard appllcable in the Unitsd Klngdom and Republic of Ireland IFRS 1021, the Chariti88 Act 2011 and UK Generally Accepted Practice. The financjal Statements are prepared on a golng rAMcem basis under the historfcal cost convention, modified to includ8 ¢8rtaln Item8 at fair value. The financial statements are presented In stsrflng whlch18 the functional currency ol the Tru8t and rounded to the nearest £. The 8lgnificant accwnfjng policAe8 applled In the preparallon of these financlal 8tatement8 are set out below. Theia polic188 have been conslstently appliod to 811 ye8r8 pr888nted unle88 other4M$e stated. (b) Funds Unrestn'cted funds are available lor ufye at the di8c¢etion of the Trustee8 in furtheTanc8 of the general oty'ectives ol the Trust and whlch have not been d88lgnatad for other purposes. Designated fund8 comprise unre8tr1cled funds that have been set aslde by the Trustsej for paiti¢ular purpo8e$. Restricted fijnds are funds which are to be used in accordance with specific reitrlclion8 imposed by donor8 or ￿lCh have been ral8ed by the Trust for particular purpo8e8. Endowrnent funds repre8ent those a88ets whith muit be held pgrnianently ty the Tru8L The Tru8t has no designated, r•strid•J or endowment funds in the current or previous year. 12 The Humphrey Rlchardson Taylor Charltabl• Trust Not•• to tho Flnanclal Statomonts Year Ended 31 DeGemb•r 2023 (c) Incomo recognloon JI incoming re8ource8 are Included In the Ststement of Finanaal Activities (SOFA) whon the Trust Is legally entitled to the Income after any perforrnan￿ conditions have bean met, the amount can be measured rellably and rt18 probable that the income will be received. For donatlon8 to be rocogni8ed the Trust will have been notified of the amounts and the setdement date in Writing. If there are conditions attached to the donation and this requires a level of perfornianGe before entitlement can be obtained Ihen income 1$ deferred untll those conditions are fully met or the fulfilment of those condition8 18 IAfjthin Ihe control of the Trust and It Is wobable that they wlll be fuMIUed. No 8mount Is Induded in the financlal 8tatement8 lor volunteer Ume In line with the SORP. Investment income18 eamed through holding a8Jets for Inve8trneN purpo888 8uch aj shares and propety. It include8 dlvldends, Sntere8t and renL Wiere It18 not prathcable to Idenllfy investment management Costs incurred withln a stheme wrth rea8onabl8 accuracy the investrnent income is reported net of th88e costs. It is Included bthen th8 amount can be measured reliably. Interest income Is recognised uslng the effec*ve interest method and dlvidend and rent inu)me is recognls•d as the TTUBt'8 right to receive payment Is established. (d) exp•ndltur• rncognftlon AJI expendittJre18 8ccount8d for on an a(xruals ba818 and has been classified under headings that aggregate all co￿8 related to the category. E¥penditure Is recognised where there 18 legal or ¢onstrutXive obligakn'on to make payments to third parties, It 18 probable that tlie settlement will b8 required and the amount of the obllgation can be measured reliably. It 18 categ Debtorn and crodllorn rn¢•lvabl•lp4y•bl• wlthln on• y••r Debtor8 and ¢yedltor8 ￿th no stated Intera8t rate and recelvable or payable ￿ts￿In one year are recorded at trgn88dion pric4. Any losses arising from impairment are recognised in expenditure. UI Impalrni•nt A8sets not measured at falr value are reviewed for any Indication that the asset may be impaired at each balance Sheet date. 118uch indicats'on exist8, the recoverable amount of the a55e( or the asset's cash generating unit. 15 estimated and compared to the carrying amount. Where the carrying arnount exceeds its recoverable amount, an impaimient Ios8 18 recognised In proilt or loss unless the asset is carried at a rnvalued amount where the impaimient1088 18 revaluation d￿reaSe. Ik) Provl•lon• Provisions are re¢ognised vthen the Trust has an obllgation at the balance sheet date as resurt of a pasl event, it is ryobable Ihat an outflow of economic benefits wll b8 required in settlement and the amount can be reliably estimated. 14 Tho Humphrgy Rlchard8on Taylor Charftable Trust Not•8 to th• Flnanclal Statoments Yoar Ended 31 Dec•M￿r 2023 (l) Fornlgn ¢urr•n¢y Foreign currency tran8actions are initially re¢ogni8gd by app￿ing to thè forelgn cuffency amount the spot exchange rate bèbween the fundional currency and Ihe foreign currency at the date ol the transaLlion. Monetary asset8 and liabilities denominated in a foreign currency at the balance Sheet date are translated using the closing rate. (m) Ernploy￿ bonofft• Vthen employees have rendered senrfice to the Trust, 8hort-term ern￿oyee beneflts to vknlch the employ888 are onlltled arg recognl8ed at the undl8counted amount expected to be paid In exchange for that 88rvice. (n) Tax. As a reglstered chartty, the org8nlsatlon 18 exempt from Income and Cap￿81 galns tax to the extent that its income arKI gains are applicable to (*baritable purposes ￿ly. Value Added Tax is not recoverable by the Trust, and 18 therefor• Included withln the relevant cost8 In the Statemgnt of Financial Activits'e8. (o) Golng con¢•rn The finandal statements have Wn prepared on a going concem ba818 as the Trustees believe that no material un¢ertainti88 exist. The Tru8tee8 have consldered Ihe level of funds held and the expected level ol income and exp8nditur8 for 12 months from auth0ri8ing th888 financial Statements. The budgeted income and expenditure 18 sufflcAent the level of re8erves for the Trust to be able to continue as a going concem. Incom• from Inv••lm•nt• 2023 2022 Dlvidends and bond Income Interest- deposits Compensats'on income Rental income other income 164,952 3,599 158,200 549 1.184 362,036 583 356,285 1,715 522,532 15 Th• Humphr•y Rlchard80n Taylor Charftabl• Tru•t Notm to th• Flnanclal Stat•m•nt8 Yoir End•d 31 D•c•mbor 2023 Invo•lm•nt managomont co•t• 2023 2022 Investment manager fee8 Inv8stsn8nt prop8ty costs Professional fees investment propertio8 Property agents commission 16,147 6,143 36.600 24,592 18,198 3,844 6,154 28,538 An*ly•l• of •xpondltur• on charltabl• actlvltl•• (kntfwdknq 2023 Total 2022 Indlvlduals Schoo18 Parther Organl8atlon8 Societie8 23,970 142,711 104,927 104,050 23,970 142,711 104,927 104,050 78.932 326.865 111,488 95,055 375,858 375.658 612,340 Allocatlon ol •upport ¢o•t• 2023 2022 Govemance Staff costs Offlce costs (Ind, renti 14,487 37.975 14,218 12.627 33,750 14,011 11 16 The Humphrey Rl¢hard80n Taylor Charltablg Tru•t Notes to tho Flnanclal Stat•mgnts Yoar End•d 31 D•c•mb•r 2023 Gov•m•nc• eo•t• 2023 2022 Trustee expenses Auditor's remuneration Indemnlty Insurance for Tru8tee8 and employee8 10 2,548 11,000 939 3,518 8,200 911 Analy•li ol grAnt• fy•nt•to Gr•*•t Gr4nt• 2023 Total Ir•￿￿j Capital projeGt• Concerts Tuition f8eJ Bur8arle81Schdar8hlp8 In•trument & equlpment purchases 4,000 109.497 18,784 7,023 79,140 104,050 126,814 128,990 89,140 30,714 12,470 10,000 1,500 29,214 23,970 142,711 104,927 104,050 375,658 Redpients of grants.. Unre•trlctgd Fund8 R88tricted Fund8 Totsl 2023 Total 2022 Gr•nts lo In•tltutlon• Capltal pmjeds Brockham Choral Car8halton Boys Sports College 3,875 100.000 103,875 17 The Humphrey Rlchard8on Taylor Charftablo Trust Not•8 to tho Flnanclal Stat•m•nt8 Y•ar End￿ 31 Docombor 2023 Unrestricted Re8tricted Funds Funds Total 2023 Total 2022 Concerts Aquarian Op8ra Ashtead Choral Ban5tead Arts Festlval Banstead Musical Society Baseless Fabric Theatre Bookham Choral Society Brockham Choral Soaety Buckland & Batchworth Chora Burgess Hill Choral Society Burgess Hill Symthony Orche8tra Chantry SlngerJ Children's Concerts Coulsdon & Purley Festlval Croydon Bacli Choir Croydon Symphony Orchostrn Dorklng Chamber Orche8tra Dorking Choral Society Dorklng Phllharmonla Egham & Distrlct Music Club Egh8m Choral ELOC Fnglish kn Chorale Epsom Chamber Choir Ep8om Player8 Erato Society Famborough Symphony Orcho8tra Famhain & Boume Choral Gene818 Choral8 Guildford Chamber Choir Gulldford Opera 14arloquin Cliamber Choir Hill SingeryJ Holn)bury St rblary Choral SocA•ty Hythe Singer8 Imagine That Production8 Instant Opera Kingston Orpheus ChoTrr Kingston Choral Kingston Philharmonia Knaphill & St Johns Opera Group Lèatherhead Choral Society Oakleaf Eniorprise- Everyone Choir Odd Fellows Malo Voice Choir Redhill & Reigate Music & Drama Festival Redhill Sinfonia Rei9ate & Redhill Choral Society 1.000 1,500 4,000 4,000 1,IXIO 1,500 4,¢X)O 4,000 4,000 4,000 2,500 2,000 3,CMJO 1,000 3,500 3,lJOO 2,500 3,000 1,700 3,IXIO 2,500 2,000 2,500 2.000 3,000 1,000 3,500 3,000 2,500 3,000 1,700 2,500 3.500 4,500 1.500 3,000 2,000 2,000 2,500 2,000 2,500 2,000 3,000 500 3,000 2,IX)O 1,000 500 500 2,500 2,500 2,000 1,000 2.500 2.000 2,000 500 2,800 2,700 2,000 3,000 6,500 1,000 2,700 3,LNg0 6,lJOO 3,IXIO 1,000 1,000 2,000 4,600 5,000 3,000 2,7Jro 2,500 2,¢JOO 4,830 3,000 2,500 2,750 1,000 1,rJoo 2,000 3,000 3,000 2.000 18 The Ilumphroy Rlchard80n Taylor Charftabl• Tru•t Not•8 to th• Flnancl•l Statomants Y•ar End•d 31 Docambor 2023 Unrestricted Restricted Funds Funds Total 2023 Ti>tsl 2022 Rlchmond Orchestra Spelthorne Choral Surrey Heath Sln8ers Svrrey Opera Surrey PhilhBrmonic SorAety Sussex Chorus Sutton Muslc Fe8tlval Suttun Music Servi Sutton Music Trust Sutton Symphony Orchestra Vaughan Willi8Th18 Singers .VoGal Dimension Chorus Wallington County Grammar Wavertey Singer8 Wimbledon Chamber Choir Wimbledon sym￿onY Orch•8tra Woking Choral Woking Symphony Orthe8tra YESPA 1,500 2,500 3,000 2,500 2,000 3,000 2,000 2,000 3.500 11,239 3,000 3,500 2,564 2,000 2,000 3,000 3,000 2,000 1,000 1,000 2,000 2,000 1.000 2,000 2,000 1,750 1,000 2,000 2.000 2,000 3,000 3,000 128,814 113,919 3,000 128,814 Tuilion fees Abbey Primary Al Saint8 Primary Ark Blake Academy A8hford C of E School Burgess Hlll Academy Cafshalton Boys Sports College DofthtTrster Prlmary School Fullbrook School Glenlhoine High School Green Wrythe Primary ' Harrls Academy Merton Harris Academy Wmbledon Howard of Effingh8m Linden Bridge School Minster Junior Mini8ter School Tuition Nuffield Churth Primary Oasis Academy Shirtey Overton Grange Sthool Reigale School RiddleSd0￿ College Riverview Primary Robin Hood Infarrt ovchool Rcbin Hood Junior School Rushy Meadow Primary 3,088 18,037) 5,892 1,580 7,852 7,605 6,540 475 (3,6961 5,530 8,525 10,240 1.200 2,103 10,408 (660} 400 3,088 16,037) 13,000 1,560 7,852 7,605 6,540 475 (3.6961 5,530 8,525 10,240 1.200 2,103 10,408 {860} 400 1,884 13.732 13,0 8,618 8.480 2,168 27.000 4,400 12,000 3,277 8.278 1,225 7,265 8.559 15,618 6,737 900 4,890 15,618 8,737 4.890 1.282 5,127 5,127 7,563 5,738 7,681 19 Th• Humphr•y Rlchard•on Taylor Charltabl• Tru•t Not08 to th• Flnanclal Statements Year Ended 31 Decemb•r 2023 unre8lri￿ed Re3trirted Funds Fund8 Total 2023 Total 2022 Sandcrojs Sthool Shefwood Park Sthool Shirley High S¢hool st George's Primary st Lawrence C of E Primary Sutton Music Service ToNvorth Gids Wallington Primary Woodmansterne Prlmary School 1,520 2.665 7,088 14,487) 1,300 7,023 (2,871) 1,497 1,520 2.S55 7,088 {4,487) 1,300 7,023 12,871) 1,497 2,280 5,531 4,487 7,850 8,422 1.050 118,520 118.520 157 9(x) Bursarie￿hOl8TShIps ENO National Chlldren'i OrchoJtr8 NYCGB NYO RCM South London Mu8ic DayB Southbank Sinfonia Yehudi Menuhin University of Surrey 3,000 4,050 2,590 4,000 3,000 4,050 2,590 2,050 4,000 6,000 38,OCA) 38,000 2,500 500 9,000 5,000 18,0 18,0 79,140 80,550 18,(KJO 79,140 20 Th• Humphrey Rlchard•on Taylor Charftablo Tru•t Notm to th• Flnanclal statoM￿tI Yaar Ended 31 D•¢emb•r 2023 Unrestrided Funds Re8triLted Funds Total 2022 2023 Instrument and equlpm8ntpurchases A8hcombe School Ashford C of E Sthool Burge88 Hill Academy Collyerfs College Ea8t4Mck Infant & Junlor Fullbrook School Glebeland8 Schch)I Glenthome School Grey Court School Hackbridge Primary Harris Academy Wmbledon Hollyfield School Holmesdale Primary Howard of Effingham Merstham Park School Nightingale Academy Oak8 Part( High School Reigate School Richmond Mu8lc Tru8t Riddle8down College Robin Hood Infant School Rushy Meadow Primary st Paul's C of E Prlmary The Brit Sthoo5 Walllngton Primary 7.180 119 7,180 119 11,452) 1,822 1,796 8,O¢Jl 935 {824) 1,796 8,000 935 1824) 13,952 3,431 3,431 9,981 1,615 1,815 829 17,287 1,750 1,328 (2711 (2711 2.520 2,520 5,349 24,420 358 414 236 330 1,288 1.130 29,214 236 330 1,288 1,130 29,214 77,164 Total grnnts to In•titutlon• 351,688 351,888 533.408 Grant• to Indlvldu•l• Bur8arie$ Instrument purcha8e$ Turtion fees and scholarship8 10,000 1,50) 12,470 10,000 1,500 12,470 28.410 23.470 27,052 Total grants to Indlvldual• 23,970 23.970 78,932 Total grant• pald 375,658 375,658 612,340 21 The Humphr•y Rlchard•on Taylor Charltabl• Trust Notm to th• Flnanclal Stat•m•nts Y••r Ended 31 D•c•mber 2023 Nel Incom•l(•xp•ndlturo) for th• y•ar Net in¢omel{expendilure)18 ststed after tharglnty(Cred￿'ng).. 21T23 2022 (Profit)Aoss on sale of inveslments (Profit)Aos8 ¢)n fair value movement of inve8tsnents (1,482) (1,390) (313,809) 809,561 Audltorf• r•munoratlon Th8 audltor's remuneration amounts to an audlt lee of £9.OTrJ lor 2023 plus an under wovlsion of £2,000 In re8peLt 01202212022.. £8,200). 10 Tru•tM•' •nd key manag•m•nt p•rnonn•l r•mun•rallon and •xp•n••• The Tru8tee8 nelther recelved n(Y waived any rgmuneratlon during the yow (2022.. £NIII. The reimbur88ment ol Tru8tee$' expen888 08 follow8: 2023 Number 2022 Number 2023 2022 Travel Other 937 1,811 1,072 2,548 3,516 11 Slaff co•t• and •mploy•• b•n•lll• 2023 2022 Wages and salarie8 37,975 33.750 The average number of employees durlng the year was 2 12022: 2) wlth all employee Ime Invc4ved in either provlding support to the governance of the Tru3t or 8UPPOrt $8rvic88 to charitable activities. 12 Tanglbl• ilx•d a•ul• The Trust had no tangible fixed asset8 in the current or w8Mous year. 22 Th• Humphrey Rlchardson Taylor Charltabl• Tru8t Not￿ to thg Flnanclal Statem•nts Y•ar Endod 31 D•c•mber 2023 13 Flxed au•t Inv••tm•nt• urt•d Prwwty Total Cost or valuallon At 1 January 2023 Additions Disposals Revaluation At 31 December 2023 5,253,861 20,000 6.300,000 11.573,881 114.884) 313,809 5,552,986 (14,884) 313.809 11.872,986 Impalfm•nt At 1 January 2023 Written off Eliminated on dispoB811 At 31 December 2023 Carrylng amounl: At 31 December 2023 5.552,986 20,O¢XI 8,300,IXIO 11,872,988 At 31 December 2022 5.253,881 20,000 6,300,000 11,573,881 Investments at fair value comwl8e'. 2023 2022 Llsted equbtles Unlisted Investment8 Propety investments 5,552.988 20,000 6,300,000 5,253,881 20,000 6,300,000 11,872,986 11,573,861 l investments are carrfed at their fair value. Investments in li8ted equltie8 and fixed interest 8ecurrties are all traded in quoted public markets, primarity the London Stock Exthange. Holdings in common investrnent funds. unit trusts and open-ended investrnent companie5 are at the bld prlce. Tha basis of fair value for quoted inVestM￿ts Is equlvalent lo the market value, using the bid pri¢8. Asset sales and pdrthases are recognised at the date of trade at ￿8t {that ij their transaction value). 23 The Humphrny Richan180n Taylor Charftabl• Tru•t Not08 to th• Flnanclal Stat•monts Year Ended 31 Doc•mb•r 2023 The unlisted investments comprise 2,000 ordlnary shares of £10 each (4% of tolal issued share capital) of Clyde Hall {Addiscombe) ￿mIted, a private limit8d company. The winopal activity of Clyde Hall (Addisconibe) Limited is to M and man8g8 premises knov•TI as Clyde Hall (located in Croydon. Surreyl for use 88 a local communty resource. More particularly, Clyde Hall is the home of Surr8y 0￿ra, a regular reapient of grants from the Tru8L AS it is an unquoted company. th8r8 18 no readlty Identifiable market lor it8 shares. Accordingly, the valua of the Trust's investment has been assessed by the Trustees on the basis of the share of the value of the underlying net assets attrlbutsble to the Trust's holding. The latest accounts fcy the company Show net assets of £559,903 as at 31st Odober 2023. Thorefora tho Tru8tees have valued Ihe investment at £20,000. The Investment propertie8 were 8uty.ect to independent, profe88lonal valuatlon as at 318t December 2021. The valuation w88 undertaken by Rithard Mos8 Msc MRICS and Neil Duffy Bsc MRICS of Clutton8 LLP, Portsnan House, 2 Portman Street London, W1H, 6DU. The propertie8 were valued on the ba818 ol falr value In accordance ￿th RICS valuation profe88ional 8tandard8. Current and future Income 8tream8 were ¢apitsli8ed u8lng approwlate multJplier8, and the results thecked agaln8t market •vldence. 14 0•btorn . 2023 2022 Rent deposit5 Accrued Income other debtors 875 1,875 27,318 875 29.487 Al debtorn fall due vlthln one year. 15 Curr•nt a•Mt Invutm•rrt• 2023 2022 Cash held by inveStrn￿t manager8 10,437 10,332 10,437 10,332 24 The Humphrey Rlchard•on Taylor Charftabl• Tru8t Notu to th• Flnanclal Statomonts Y•ar End•d 31 Dac•mbor 2023 18 Credltor•: •mount• f•lllng du• vAthln on• y••r 2023 2022 (Xher tsx and soclal securty Other creditors AccTual8 for grants payabl Accrued expense8 Prepaid income 801 80,988 287,772 53.423 43.750 485 160,443 337,332 12,588 17 A¢¢ru•d fundlng eommltm•nts l y•w 4•r l ymr Total At 1 January 2023 Addition8 durin9 the year charged to Incomo Amounts pald dudng the year 337,332 375,658 (425,218) 337,332 375,658 (425,2181 At 31 December 2023 287,772 287,772 18 R•conclll•tlon of n•t •xp•ndlturn to n•1 ¢a•h flow from op•rntlng actlvltl 2023 2022 Net inc(Mnel(expendlture) for year 316,004 (813,0991 Dividends and bond income recelved Rent received from invejtment properttes Interest receivable IGains)Aos8e8 on investmenls IProfitlllos8 on disposal of fixed 888et inve8trnents Deueasel(increasel in debtors IDecrea8eifincre8se in ueditors (164,952) (356,285) (5,314) (313,809) (1.462) 28,612 (44,074) 1158,2001 (411,9891 (4,952) 809,581 {1,390) 92,973 120.028 Net cash flow from operating ac0V￿e6 25 Th• Humphr•y Rlchard8on Taylor Charftablo Trust Note8 to th• Fln•nelal Statements Y•ar Endgd 31 Dec•mb•r 2023 19 Rolat•d party tran•a¢tlon• Fees have been paid to a prof898ional Ilmi. Huggins. Edwards & Sharp, to which one of the Trustee8. Mr W J F Maling8, is a consuttant. Commi88ion8 tharged on the collection ol rent amounted to £24,592 {2022.' £28,538). During the year a grant of £3,500 {2022: £3,500) was made to the BLrge83 Hill Choral Society who employ Twstee Mr M S Wood. Burges5 Hill Symphony Orthe8tr8 also employ Mr M S Wood and received a grant of £3.IY)O in the year (2022.. £4.500). 26