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2021-03-31-accounts

Company number: 3637201 Charity number: 1073105

The Irene Taylor Trust

Report and financial statements For the year ended 31 March 2021

The Irene Taylor Trust

Contents

For the year ended 31 March 2021

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 3 Chair’s annual report ................................................................................................................... 15 Artistic Director’s annual report ................................................................................................... 16 Major Donor list ........................................................................................................................... 17 Project reports ............................................................................................................................. 18 Independent auditor’s report ....................................................................................................... 21 Statement of financial activities (incorporating an income and expenditure account) ................... 25 Balance sheet ............................................................................................................................... 26 Statement of cash flows ................................................................................................................ 27 Notes to the financial statements ................................................................................................. 28

The Irene Taylor Trust

Reference and administrative information

For the year ended 31 March 2021

Company number 3637201
Country of incorporation United Kingdom
Charity number 1073105
Country of registration England & Wales
Registered office 35-47 Bethnal Green Road
London, E1 6LA
Honorary President Louis Taylor MA
Trustees Trustees, who are also directors under company law, who served
during the year and up to the date of this report were as follows:
Jane Anderson Chair
Paul Meitner ACA Treasurer & Vice Chair
Jonathan Adams Vice Chair
Alice Knox (née Beal) (elected July 2020)
Charlotte Bush (resigned October 2020)
Sarah Davis (elected July 2020)
James Maloney
Peter Renshaw
Dr Rosie Reynolds (elected July 2021)
Jo Sparrow (elected July 2021)
Carolyn Taylor
Advisory Group Lucine Bassa
Darren Clugston
Eileen Eastaugh-Mascoll
Reggie Fowell-Boston
Montell Reid
Helen Syctha
Patrons Roger Graef OBE
Mark Knopfler OBE
Stephen Hough
The Rt. Hon. The Lord Judge
Murray Perahia
The Rt. Hon. The Lord Phillips of Worth Matravers
Jon Snow
The Rt. Hon. The Lord Woolf

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The Irene Taylor Trust

Reference and administrative information

For the year ended 31 March 2021

Principal staff Sara Lee Artistic Director
Luke Bowyer Operations Director
Rupert Tate Business Development Director
Jake Tily Creative Programmes Director
Bankers HSBC Bank PLC
5 Wimbledon Hill Road
London
SW19 7NF
Lawyers Farrer & Co
66 Lincoln's Inn Fields
London
WC2A 3LH
Insurers Ageas Insurance Ltd
Ageas House
Hampshire Corporate Park
Templars Way
Eastleigh
SO53 3YA
Auditor Sayer Vincent LLP
Chartered Accountants and Statutory Auditor
Invicta House
108-114 Golden Lane
London
EC1Y 0TL

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2021

The Trustees present their report and the audited financial statements for the year ended 31 March 2021.

Reference and administrative information set out on pages 1 and 2 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP 2015 applicable to charities preparing their accounts in accordance with FRS 102.

Structure, governance & management

The Irene Taylor Trust (trading as Music in Prisons) was formed in 1995 in memory of Irene Taylor, the wife of the late Lord Chief Justice Peter Taylor. It became a company limited by guarantee (No. 3637201), incorporated on 23 September 1998 and registered with the Charity Commissioners (No. 1073105) on 23 December 1998. The charitable company was established under a Memorandum of Association, which established its objects and powers and it is governed under its Articles of Association. The charity is administered by a Board of Trustees who are also its directors for the purposes of company law.

Trustees are kept up to date on their relevant legal responsibilities through a variety of methods and formats. Individual Trustees share their knowledge and expertise through informal workshops on various areas of charity law and practice. In addition, many of the Trustees on the Board receive wider training through their professional and other charitable responsibilities within other organisations.

The Trustees meet on a quarterly basis and are responsible for overseeing the overall strategic direction of the Trust and ensuring that work of the Trust remains within its objectives. Over the last year, the Trustees arranged regular additional meetings to closely monitor the Trust’s response to the Covid-19 pandemic.

The day to day management of the Trust is the responsibility of the Artistic Director, who is supported in its running by the Operations Director, Business Development Director and Creative Programmes Director.

All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 9 to the accounts.

Appointment of trustees

The Trust aims to maintain a Board of around eight to ten active Trustees/Directors, reflecting a broad range of skills and knowledge appropriate to running the Trust.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2021

The Board recognises that it needs trustees with the appropriate skills, knowledge and experience to manage the Trust. The Board regularly reviews any skills gaps and looks to address these through recruitment of additional trustees.

The articles of association allow the board to appoint further trustees at its discretion. Trustee recruitment is usually led by the Chair who is supported by at least one other trustee.

Trustee induction and training

New trustees are provided with an informal induction and are able to attend external training events run by professional advisers. The Board has recently reviewed its trustee induction procedures to ensure that these remain appropriate in light of the Trust’s activities and the current law and good practice.

Objectives and activities

The objects of the Trust are to promote the creative arts, particularly amongst prisoners, probationers, the sick, including those with physical and learning difficulties, the poor and those in need of rehabilitation or reintegration into the community. The Trust advances its objectives by delivering high quality creative music programmes which facilitate the creation and performance of original music with men, women and young people in prisons nationwide, and in the community with former prisoners and with young people in challenging circumstances. The objectives are further advanced through advocacy of the benefits of arts education in reintegrating to society those who have suffered social exclusion of many sorts.

In addition to special one-off and collaborative projects, the Trust aims to deliver and evolve the following core programmes:

The Trust’s strategic objectives for 2018-2021 were to:

  1. Meet the needs of more men, women and young people in and on the fringes of the Criminal Justice System

  2. Strengthen its profile (locally, nationally and internationally)

  3. Share its experience, knowledge, and evidence to promote the wider use of music in prevention and rehabilitation

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2021

  1. Innovate and collaborate artistically, developing its projects, approach and team

  2. Diversify its funding model and grow its activities sustainably

The Trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work within the last twelve months. The Trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

Review of activities

At the start of this extraordinary year, the Trust took the decision to explore ways to adapt its programmes, to continue to provide creative opportunities for participants despite the restrictions imposed by the Covid-19 pandemic.

The Trust successfully adapted or created new projects for delivery in both prisons and the community (see below for more detail) over the year; inside prison, 12 prisons partnered on ‘Playlists’, seven on ‘Correspondence Songwriting’, and one Musician in Residence was able to resume their sessions; in the community, the Sounding Out programme for former prisoner musicians provided a range of online activity, Making Tracks was adapted for online delivery and a scaled-down model for ‘Covid safe’ in-person delivery, and the Lullaby Project took place online with two groups, migrant and refugee mothers, and mothers at risk of homelessness.

The Trust was commissioned by the Chicago Symphony Orchestra for two online projects to train their musicians, including a special collaboration to musically explore the Black Lives Matter movement. The Trust also celebrated its 25[th] Anniversary with a range of special projects.

Over the year these projects involved 770 participants (up 23% on previous year, 622) and generated 138 pieces of original music, demonstrating the Trust’s commitment to working with people of all ages across the secure estate and in the community.

Meeting the needs of those in and on the fringes of the criminal

justice system

Music in Prisons

The Trust’s well-established intensive-model prison projects were not viable during the year due to ongoing access restrictions, so the Trust developed two new projects.

The ‘Playlists’ music appreciation project provided engaging in-cell activity, introducing a wide variety of musical genres through CDs and worksheets curated by the Trust’s professional musicians, encouraging listeners to respond in feedback forms, which were later shared in audio format, recorded by some of the Trust’s former prisoner artists. The ‘Playlists’ course runs over a 20-week period and was delivered in 12 prisons during the year.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2021

‘Correspondence Songwriting’ was developed as new method of remote collaborative songwriting. The lyrics for the songs were written by prisoners, who also provided guidance about how they would like the songs to sound. The Trust’s team of musicians worked on the melodies and music based on this information. The recordings were then sent back into the prison, along with a letter to the lyricist from the musicians explaining the artistic choices they had made to create the final product. During the year 51 new songs were created in this way.

Prison Musicians in Residence

The Trust also runs Musician in Residence placements in key prisons to complement and sustain the impact its usual intensive projects, through the delivery of weekly music sessions. During the year, due to the ongoing restrictions, only one musician was able to resume delivery, working with children in a secure training centre, as the lockdown rules were different for the children’s estate.

Sounding Out

Usual delivery of the two-year training programme for former prisoners was not possible, but the Trust adapted elements of the programme to engage with participants online throughout the year.

In the summer the Trust ran a series of introductory online workshops open to all of our former prisoner musicians, including sessions on spoken word, lyric writing, DJing and podcasting. Towards the end of the year, the Trust brought the usual regular ‘meet up and play’ sessions for Sounding Out musicians online, collaboratively creating two new tracks.

Sounding Out musicians played important roles in the 25th anniversary celebrations, including speaking on podcasts and webinars, contributing songs for the celebratory album, and performing on the 25th Birthday Show. Sounding Out musicians also made guest vocal appearances on some of the prison Correspondence Songwriting tracks and took part in the Black Lives Matter collaboration.

Making Tracks

Moving projects with young people in the community online has proved particularly effective. Over the last year the Trust has run six online Making Tracks projects, two sets of online introductory sessions and two adapted in-person covid-safe projects, with partners The Prince’s Trust, Newham YOT and SPEAR London, reaching young people who not in education, employment or training and/or engaging with youth offending teams in the community.

During each project, our team supported the young people to participate, whenever possible working with them to complete Bronze Arts Award portfolios (for some a first accreditation) and after the projects offered all participants tailored progression support. The Trust also worked online with selected former Making Tracks participants to achieve Silver Arts Awards and on projects for our 25th Anniversary Celebrations and Black Lives Matter international collaboration (see below).

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2021

Lullaby Project 2019-21

Following a successful pilot in 2017, the Trust is collaborating again with the Royal Philharmonic Orchestra to deliver the Lullaby Project in three regions of the UK, supported by funders including Arts Council England.

In the summer the Lullaby Project was featured in the BBC Proms at Home series, encouraging families to make music together, for which former Lullaby Project participants from Sounding Out and Praxis Community Projects were interviewed.

Later in the year the Trust adapted delivery to continue the project online, working with a group of mothers at risk of homelessness from Trinity YMCA in Ipswich at and later migrant and refuges mothers from Open Doors Hull. In-person delivery with fathers in prison is planned for later in 2021.

Strengthening profile

25[th] Anniversary projects

The Trust celebrated its 25[th] Anniversary in November 2020. As the originally-planned live show wasn’t possible, the Trust instead celebrated online throughout the month, culminating with a ‘25[th] Birthday Show’ on Youtube Premiere, which included specially filmed performances and interviews with past project participants.

Highlights of the celebrations included the ‘Changing The Record’ podcast series (which was also broadcast on National Prison Radio), the ‘Reimagined Songs’ series (in which the Trust’s musicians created new versions of songs created on the Trust’s projects over the years), the publication of the ‘Children’s Songbook’ (featuring scores, lyrics and backing tracks for songs made for children on the Trust’s projects) and release of ‘25’, a celebratory album created collaboratively online by the Trust’s musicians and participants from Making Tracks and Sounding Out.

All of this content is available to enjoy on the Trust’s website on the ‘celebrating 25 years’ page.

Sharing experience

‘Reflections’ webinar series

As part of its 25[th] Anniversary Celebrations, the Trust ran a free series of webinars exploring elements of its work through facilitated discussions with participants, musicians, staff, partners and sector colleagues. The webinars covered the subjects ‘why create music in prisons’, ‘training former participants to lead’, ‘moving projects online’ and ‘collaboration; how and why’.

Black Lives Matter international collaboration

Planned in-person training commissions from the Chicago Symphony Orchestra were not able to go ahead, so in response to not being able to work together in person the Trust devised an ambitious online project, utilising the skills of 23 people including the ITT project team, young

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2021

musicians from the Civic Orchestra of Chicago and lyricists and vocalists from Making Tracks and Sounding Out. The driving force behind the project was the desire to respond in a creative way to the events surrounding the Black Lives Matter movement and to create a set of new songs focusing on past events, the present day and hopes for the future. Groups met online to devise musical and lyrical ideas and structures, worked offline to create and record their individual parts and then came back together online to hone the ideas and shape each song into its final form.

Developing projects, approach and team

Learning from project adaptations

Although the Trust adapted project delivery though necessity, the process has provided much valuable learning and there have been elements that have proved unexpectedly successful. The Trust is currently developing mixed models for future delivery that will incorporate elements of online or remote delivery.

In-cell Learning Resource

Towards the end of the year, as restrictions to in-person prison delivery remained, the Trust began work on a new in-cell learning resource which will be useful both during lockdown restrictions and in the future for Music in Prisons participants who wish to continue learning after projects.

Responding to the needs of our prison partners, the Trust created 25 in-cell music lessons via DVD and handbooks curated by seven of its highly experienced musicians. The resource covers music theory, song-writing, guitar, keyboard, and soloing and improvisation. The lessons give learners the chance to go at their own pace and benefit from the Trust’s considerable experience in teaching and facilitating at all levels of ability.

‘Playlists’ developed for prison TV

Towards the end of the year the Trust planned a further development to the successful ‘Playlists’ project; in April 2021 the Trust was awarded Arts Council England funding to expand the series as a TV show to be broadcast in 50 prisons on Way Out TV. The series will feature the Trust’s expert musicians and former prisoner artists discussing a range of musical genres and created new pieces of music in each genre featured.

Establishing an Advisory Group of former participants

The Trust has developed its mechanism to allow user-voice to be heard by the Board. Towards the end of the year an Advisory Group was set up, opening the opportunity to feedback and influence strategic direction to more former participants in a more formalised way. The Advisory Group now meet prior to the Trustees’ quarterly meetings and select a representative to attend the Trustee meeting to report on discussions and make recommendations to the Board.

Trustee recruitment

During the year recruitment took place first for new Trustees with expertise in the music industry, with Alice Knox (known professionally as Alice Beal) and Sarah Davis joining the board in July

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2021

  1. Later in the year, recruitment began for new trustees with a background in the criminal justice system. Two new trustees, Dr Rosie Reynolds and Jo Sparrow, joined the board in July 2021.

Diversifying income streams

Earned income

The Trust’s ability to generate earned income was greatly impacted by the restrictions to physical delivery of projects. A training commission from Bergen prison in Norway was postponed; commissions from the Chicago Symphony Orchestra were adapted for online delivery at a lower value; delivery of contracts in prisons were delayed. As a result, earned income made up just 11% of income (compared to 21% in 2019-20 and 25% in 2018-19), although £37,522 was deferred to 2020-21 due to delays in delivery (without which, earned income would have been a higher proportion, at 19%). The Trust remains confident that over the next three years opportunities to increase the proportion of earned income will return. Despite the challenges presented over the last year, earned income remains higher than when this strategic aim was first established in 2015-16, when earned income represented 7% of total income.

In overseeing the activities of the charity during the year, the Trustees have had regard to the Charity Commission guidance on public benefit, and are satisfied that the activities of the charity have suitably met the criteria regarding public benefit as set out in that guidance.

Plans for the Future

The Trust developed a new strategic plan for 2021-2024. Key objectives for this period are to:

  1. Meet the needs of more adults and young people in and on the fringes of the Criminal Justice System

  2. Strengthen our profile (locally, nationally and internationally)

  3. Develop and share our experience, knowledge, and evidence to promote the wider use of music in prevention and rehabilitation

  4. Innovate and collaborate artistically, developing our projects, approach and team

  5. Diversify our funding model and grow our activities sustainably

  6. Develop and establish on-line and face to face working practices developed during covid-19 restrictions as part of our offer

In 2021-22 the Trust will continue to:

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2021

Reserves Policy

It is the policy of the Trust to maintain free unrestricted funds at a level that equates to between five and eight months’ running costs (i.e. non-project costs) based on projected figures for future spending. Reserves are held in such a way that the organisation can fulfil its financial obligations on a timely basis to its staff and creditors, in the event of a cessation of activity. At the year end the Trust held unrestricted funds of £150,518, which included Designated Funds of £30,451 (£20,550 for rent liability, £9,901 for projects), and free reserves excluding fixed assets of £112,923, which is equivalent to approximately 5.2 months’ running costs, falling within the target range. The Trustees therefore consider the Trust to be a viable going concern.

Risks Policy

The risks to which the charity is exposed are monitored on a regular basis by the Board and appropriate action is taken to mitigate and manage those risks, and to minimise any possible disruption to the effectiveness of the Trust's work from them. The principal organisational risks and the strategies in place to mitigate them are:

Organisational risk Mitigation plan
Serious reduction in funding Conducting an attainable funding strategy supported
by a robust strategic plan to achieve income targets
through a diverse range of sources (trusts and
foundations, earned income, individual giving),
nurturing relationships with existing funders and
constantly sourcing new opportunities. In addition to
a financial review at quarterly trustee meetings, a
Finance & Funding sub-committee convene between
trustee meetings to closely monitor the financial
situation and alert the board to any emerging
issues/ concerns. If necessary, the board will
consider cost-saving options, such as a reduction of
staff hours.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2021

Impact of Covid-19 on project
delivery & funding		 Where possible, projects have been adapted to make
online or remote delivery an option. When
appropriate, current funders approached to request
restricted funds be repurposed. Emergency funding
related to Covid-19 impact sought.
Risk of Covid-19 on health of staff,
trustees & participants		 Arrangements have been made for staff to work
from home if they wish. If using the office space at
Rich Mix, rules are in place to enforce social
distancing, limit risk of contamination (via shared
equipment) etc. Rich Mix has stringent new safety
measures in place, including a one-way system,
limiting use of lifts to those unable to use stairs,
strict social distancing in shared spaces (such as
kitchens and toilets). Trustee meetings are to be
held online rather than in person, until it is felt safe
to revert to usual practice. Risk assessments are
being made for any project not taking place
online/remotely, with appropriate adaptions made to
mitigate the risks, including the provision of PPE,
adhering to social distancing, avoiding cross-
contamination of musical equipment etc. All staff &
participants briefed on warning symptoms of Covid-
19 and guidelines on when to self-isolate.
Loss of key staff Sharing of key knowledge areas amongst core
members of staff.
Reduction of core work opportunities Expanding work into community settings and
maintaining and developing key partnerships in both
prisons and the community & reworking projects for
online or remote delivery.
Loss of equipment Maintaining sufficient reserves and insurance cover
to ensure that replacements can quickly be procured
without adversely affecting the work plan.
Loss of reputation Keeping professional relationships strong,
maintaining the high quality of the projects and
ensuring through work ethics, policies and practices
that the Trust continues to be highly regarded by all
who work for and come into contact with it.
Negative press and public opinion Only engaging with carefully selected media
opportunities, undertaking monitoring and
evaluation which demonstrate the positive benefits
of the work to counteract any negative stories,
ensuring all staff adhere to the Trust’s social media
policy.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2021

Financial Review

The pandemic inevitably had an impact on project delivery levels, with adapted online and remote delivery costing less than the Trust’s usual in-person models. Total income was £143,717 lower than in 2019-20 and there was decrease in expenditure of £178,089, with a small surplus for the year of £20,834.

The Trust maintained a healthy level of unrestricted income, down on the previous year by £39,738, at £222,059, compared to £261,797 in 2019-20. Despite office staff voluntarily temporarily reducing their hours to help reduce expenditure, unrestricted expenditure was higher than the previous year by £35,359, as the reduction in project delivery meant that less restricted income could be allocated to offsetting associated staff and overhead costs.

There was a larger decrease in restricted income of £84,177, totalling £154,175 in 2020-21, compared to £238,352 in 2019-20; the Trust started the year with a relatively high level of restricted funds (£236,830) – due to the challenges to delivering services, the focus for fundraising was on securing unrestricted funds.

The Trust was successful in adapting delivery models and ran projects throughout the year; however, the lower cost of these models meant that overall expenditure on charitable activities was significantly lower than the previous year, down by £171,858 at £294,815, compared to £466,673 in 2019-20.

The priority for 2020-21 was firstly to respond to the impact of the Covid-19 pandemic by adapting project delivery, securing new emergency funding and repurposing existing funds where appropriate (with approval from funders). During the year many funders paused their usual funding streams to instead offer emergency funding.

Having successfully weathered the storm of a very challenging year, the Trust will continue to look to the future by seeking to secure multi-year continuation funding for its regular programmes, to further diversify income sources and to maintain a heathy balance of unrestricted funds.

While the Trustees are comfortable with the current situation, they remain alert to possible indicators of change and are committed to assisting the Trust to achieve continued success in 2021-22 and beyond.

Remuneration policy

The appointment and remuneration of staff is agreed by the Chair and the Treasurer. Salaries are set by reference to similar roles in London-based charities and arts organisations of a similar size.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2021

Approach to Fundraising

The Trust adheres to the Code of Fundraising Practice, data protection legislation and other relevant law and good practice guidance.

The Trust does not employ the services of any fundraising agencies or third parties, nor has it run a telephone or door-to-door fundraising campaign. Maintaining a long-term relationship with supporters is very important. The Trust does not engage in any fundraising which could be an unreasonable intrusion on a person’s privacy or unreasonably persistent, or which places undue pressure on a person to give money or other property to the Trust.

There were no complaints relating to the Trust’s fundraising in the past year and the Trustees have no reason to believe there was any non-compliance of fundraising law and regulation during the year.

Statement of responsibilities of the Trustees

The Trustees (who are also directors of the Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2021

In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Auditor

Sayer Vincent was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

Approved by the Trustees on 4[th] November 2021 and signed on their behalf by

Jane Anderson Chair of Trustees

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The Irene Taylor Trust

Chair’s annual report

For the year ended 31 March 2021

The last year has shown that the Irene Taylor Trust takes its responsibility for supporting participants very seriously. Faced with the challenge of the Covid-19 pandemic, rather than pause activities indefinitely, we have found ways to adapt our work or created new projects. We are all very proud that we have managed to reach more people than ever before over the last year, 770, at a time when everyone has needed inspiration, creativity and joy in their lives. Those whom we have reached include individuals in prisons where the pandemic has resulted in lockdowns of up to 23 hours a day.

This has been possible thanks to the dedication, imagination and commitment of everyone involved in the Trust; our musicians helped us to devise these new ways of working and embraced the learning process of delivering differently; our office staff worked harder than ever to keep things going; my fellow Trustees have been generous with their time, willing to meet more often to offer support and advice; our funders have been fantastically flexible, with many allowing us to adapt the use of funds for our experimental new projects.

The results have been wonderful to see. Our participants have been as engaged as always. The learning from these new ways of working will continue to be useful to us in the coming years, with elements that will be incorporated into our programmes into the future.

During the year we began an open recruitment process to attract new Trustees with expertise in criminal justice. We were impressed by the calibre of applicants and following a formal interview process, including the input of a service user, were delighted to invite Jo Sparrow and Dr Rosie Reynolds to join the Board in July 2021. We also established an Advisory Group, which will be invaluable in opening conversations between Trustees and service users, giving our participants the opportunity to directly feed into the Trust’s strategic direction.

On our projects we invite participants to be brave and try something new, to push themselves out of their comfort zones; this year we have done just that, dared to try. Taking that chance has turned what could have been a miserable year into a triumphant one. Highlights included being invited to appear on BBC Proms at Home, which was a wonderful opportunity for our participants to tell their stories, and supporting young people to progress to achieving Silver Arts Awards, for which we all congratulate them heartily. Our celebration month in November 2020, marking our 25[th] Anniversary, was a particular highpoint, showcasing the high quality and positive impact of our work over the last quarter of a century.

Thank you to everyone who has made this last year such a success; our musicians, office staff, prison and community partners, Trustees, patrons and, of course, our participants. As always, we are especially grateful to all the funders and individuals who have supported us and made it possible for us to provide this valuable work in prisons and the community.

Jane Anderson Chair of Trustees

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The Irene Taylor Trust

Artistic Director’s annual report

For the year ended 31 March 2021

As we approached spring 2020, ITT was looking forward to a year full of amazing projects and activities, including a celebration of our 25th anniversary in November. However, in March the world changed, and we needed to adapt.

Despite not knowing what was going to happen or how long the situation was going to last, we made the decision not to furlough staff, recognising that the vulnerable people we support were likely to need us and the creative activity we provide more than ever. The staff team and musicians reimagined existing programmes so they could be delivered online and devised new programmes for those in prison who had no access to technology. Despite the situation changing on an almost daily basis, everyone pulled together, fathoming out online platforms, arranging meetings, creating content, delivering sessions and planning for... well, we didn’t really know WHAT we were planning for, but we knew we needed to keep ahead of the game.

When given a challenge which has no end, and one which changes every day, you need a team which is ultimately flexible, creative, passionate and very importantly, possesses a sense of humour. Unsurprisingly, our musicians proved to be just as brilliant delivering online as they are working face to face and the staff team showed resilience and tenacity as they kept on top of changes, supported delivery, worked with funders to repurpose grants, applied for new sources of funding and generally, kept things moving. We managed to work online with individuals and groups, and with partners abroad, whilst taking care of ourselves during a period which placed us under a significant amount of pressure.

Looking back, it was a year of huge achievement not only in our creative output but also managing to survive what was thrown at us whilst grappling with the most effective ways to work with people when you can’t be in a room with them. I’d imagine none of us would have guessed we’d come out of the pandemic a stronger and more creatively diverse organisation but that’s exactly what happened. What we did was not just for the pandemic, it was for the future of ITT and our participants.

This year we will celebrate getting through the most difficult of years in a stronger position and focus on the huge positives which came from the most difficult of situations. The whole ethos of ITT is to support people during difficult times in their life and we now have additional offers, allowing us to reach more people who, it’s likely, will need our support more than ever as we emerge from the most challenging year. We are looking forward to the new challenge but most importantly, to seeing everyone again in person. Looking back and whilst it might not have felt like it when we were immersed in it, ITT had a hugely successful year which should be acknowledged and celebrated.

Sara Lee Artistic Director

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The Irene Taylor Trust

Major Donor list

For the year ended 31 March 2021

Donations over £1,000 were gratefully received from those listed below. These donations were either used for their specified purpose within the financial year or held over into the next financial year for their specified use in the near future.

Restricted Donations 1772 Debtors Relief fund Arts Council England Children in Need City & Metropolitan Welfare Charity Clinks Evan Cornish Foundation Fishmongers’ Company’s Charitable Trust Harold Hyam Wingate Foundation Henry Oldfield Trust Joe and Rosa Frenkel Trust Leche Trust National Lottery Community Foundation Vintners’ Foundation Young Londoners Fund And a donor who wished to remain anonymous

Unrestricted Donations 29[th] May 1961 Charitable Trust Bromley Trust Drapers’ Charitable Fund Esmée Fairbairn Foundation Fore Foundation Goldsmiths’ Company Charity Hanley Trust Julia and Hans Rausing Trust Lambert Charitable Trust London Youth Maingot Charitable Trust Taurus Foundation Rothschild Foundation Schroder Foundation And a donor who wished to remain anonymous

The Trust would also like to thank everyone else who made a donation to support our work, especially all the ‘Friends’ of the Trust.

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The Irene Taylor Trust

Project reports

For the year ended 31 March 2021

PROGRAMME/ PROJECT DESCRIPTION PARTICIPANTS
Music in Prisons, Musicians in Weekly music sessions with people in 45
Residence prisons
Music in Prisons, ‘Playlists’ Project In-cell learning project introducing music 497
genres
Music in Prisons, Correspondence Collaborative song-writing project via 51
Song-writing correspondence
Sounding Out Training programme for adult former 23
prisoners in London
Making Tracks Community programme for NEET young 112
people in London
25thAnniversary Projects Special projects to celebrate the Trust’s 26
25thanniversary, including podcasts,
webinars, concept album and the ‘25th
Birthday Show’
Lullaby Project Partnership project reaching participants 16
in both community and prison settings
Total 770

The following excerpts are taken from feedback from participants, prison staff and audiences. You can listen to the original music created on projects on our website www.irenetaylortrust.com.

Music in Prisons

“It brought a much-needed splash of creative interest to a very claustrophobic lockdown,” ‘Playlists’ participant

“I learned to listen to music from many different aspects,” ‘Playlists’ participant

“I can't thank you enough for what you have done with my songs…. I cried and cried happy tears I am so overwhelmed by what you created,” Remote Songwriting participant

“It was amazing, I loved everything you guys did. The vocals were on point. I loved the guitar, just wow, plus the operatic vocals just finished it off. Perfect again thank you,” Remote Songwriting participant

“I heard one resident shouting out of the window to their friend how good their song was! All of the feedback is fantastic. Thank you so much for giving the residents that chance to be involved. They have clearly benefitted from it,” Prison staff feedback, Remote Songwriting

18

The Irene Taylor Trust

Project reports

For the year ended 31 March 2021

Sounding Out

“The best thing was the fact that every day a new and different subject was given; it kept the sessions fresh,” Sounding Out participant

“I really enjoyed the fact I learned a lot of things I never knew… mainly the DJ and podcast side of things, both of which I’m now going to look more into now,” Sounding Out participant

“It’s definitely kickstarted me again after a difficult and uninspiring few months, shown me an effective way to make music remotely and it has been great fun seeing everyone’s passion,” Sounding Out participant

Making Tracks

“You learn about music and you learn something about yourself too,” Making Tracks participant

“I’ve gained so much confidence and feel more open to speaking to people I don’t know too well,” Making Tracks participant

“I cannot express enough how joyful it has been for me to see my young people take part in this. All of them came to their second sessions with notebooks where they'd been making plans and preparing, which is amazing! Their confidence grew, they laughed, they supported each other and worked as teams. Honestly this ticked absolutely every box for me and was really powerful and moving. And the tracks are SO good! Thank you for some of the most inspiring workdays I've ever had,” Making Tracks Partner feedback

25[th] Anniversary Projects

“I had the good fortune of playing guitar with you in ’98 at HMP The Mount. I’ve never forgotten you all and the experience. My life is the right side of the tracks these days. Thanks for being bothered with us lot. It means more than can know,” Audience feedback, 25[th] Birthday Show

“Happy 25th Birthday! So good to see ITT's work - wonderful to see the opportunities and inspiration original music provides,” Audience feedback, 25[th] Birthday Show

“What a great achievement from all involved! Thank you for sharing your journey!” Audience feedback, 25[th] Birthday Show

“Thanks so much for getting together to discuss this,” Reflections Webinar attendee

“Really interesting and Inspiring,” Reflections Webinar attendee

19

The Irene Taylor Trust

Project reports

For the year ended 31 March 2021

Lullaby Project

“It’s so amazing. It makes me smile every time I hear it. I’m so thankful for it,” Lullaby Project participant

"It's something my daughter can listen to and know that I will listen to her and never judge her. It means she can trust me, which is all I could ever ask for,” Lullaby Project participant

20

Independent auditor’s report

To the members of

The Irene Taylor Trust

Opinion

We have audited the financial statements of The Irene Taylor Trust (the ‘charitable company’) for the year ended 31 March 2021 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on The Irene Taylor Trust's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

21

Independent auditor’s report

To the members of

The Irene Taylor Trust

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of

22

Independent auditor’s report

To the members of

The Irene Taylor Trust

company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

23

Independent auditor’s report

To the members of

The Irene Taylor Trust

Because of the 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 non-compliance. 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: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Fleur Holden (Senior statutory auditor) 19 November 2021

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

24

The Irene Taylor Trust

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2021

Note
Income from:
2
3
4
5
Reconciliation of funds:
14
Donations
Raising funds
Total expenditure
Net income / (expenditure)
before transfers
Investments
Total income
Expenditure on:
Charitable activities
Charitable activities
Total funds brought forward
6
Total funds carried forward
Transfers between funds
Net movement in funds		 Unrestricted
£
180,319
41,569
171		 Restricted
£
6,798
147,377
-		 2021
Total
£
187,117
188,946
171		 Unrestricted
£
154,190
106,876
731		 Restricted
£
13,272
225,080
-		 2020
Total
£
167,462
331,956
731
222,059 154,175 376,234 261,797 238,352 500,149
60,585
118,462		 -
176,353		 60,585
294,815		 66,816
76,872		 -
389,801		 66,816
466,673
179,047 176,353 355,400 143,688 389,801 533,489
(30,085)
43,012		 30,085
(22,178)		 -
20,834		 (80,858)
118,109		 80,858
(151,449)		 -
(33,340)
12,927
137,591		 7,907
236,830		 20,834
374,421		 37,251
100,340		 (70,591)
307,421		 (33,340)
407,761
150,518 244,737 395,255 137,591 236,830 374,421

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the financial statements.

25

The Irene Taylor Trust

Balance sheet

Balance sheet
As at 31 March 2021 Company no. 3637201
Note
Fixed assets:
10
Current assets:
11
Liabilities:
12
14
Total unrestricted funds
Designated
Cash at bank and in hand
Tangible assets
Restricted income funds
Unrestricted income funds:
The funds of the charity:
Total net assets
General funds
Total charity funds
Debtors
Creditors: amounts falling due within one year
Net current assets		 2021
£
25,212
418,665		 2021
2020
£
£
7,144
7,144
22,773
372,215
394,988
(30,232)
388,111
395,255
244,737
-
137,591
150,518
395,255		 2020
£
9,665
9,665
364,756
443,877
(55,766)
30,451
120,067
374,421
236,830
137,591
374,421

The financial statements have been prepared in accordance with the special provisions for small companies under Part15 of the Companies Act 2006.

Approved by the trustees on 4 November 2021 and signed on their behalf by

Jane Anderson Chair of Trustees

26

The Irene Taylor Trust

Statement of cash flows

For the year ended 31 March 2021

Cash flows from operating activities
Cash at bank and in hand
a
Total cash and cash equivalents
Analysis of cash and cash equivalents
Net income for the reporting period
(as per the statement of financial activities)
(Decrease)/Increase in creditors
Depreciation charges
(Increase)/decrease in debtors
Net cash provided by operating activities
Cash flows from investing activities:
Interest receivable
Net cash provided by / (used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Net cash used in operating activities
Purchase of fixed assets
Cash flows from operating activities
Investment income		 £
£
20,834
2,521
(171)
(2,439)
25,534
46,279
£
£
46,279
171
-
171
46,450
372,215
418,665
At 1 April
2020
Cash flows
£
£
372,215
46,450
372,215
46,450
2021
2021		 £
£
20,834
2,521
(171)
(2,439)
25,534
46,279
£
£
46,279
171
-
171
46,450
372,215
418,665
At 1 April
2020
Cash flows
£
£
372,215
46,450
372,215
46,450
2021
2021		 £
£
(33,340)
3,302
(729)
869
5,973
(23,925)
£
£
(23,925)
729
(1,637)
(908)
(24,833)
397,048
372,215
Other non-
cash
changes
At 31
March 2021
£
£
-
418,665
-
418,665
2020
2020		 £
£
(33,340)
3,302
(729)
869
5,973
(23,925)
£
£
(23,925)
729
(1,637)
(908)
(24,833)
397,048
372,215
Other non-
cash
changes
At 31
March 2021
£
£
-
418,665
-
418,665
2020
2020
At 1 April
2020
£
372,215		 Other non-
cash
changes
£
-
46,450
372,215		 (24,833)
397,048
418,665 372,215
Cash flows
£
46,450		 At 31
March 2021
£
418,665
372,215 46,450 - 418,665

27

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies

Statutory information

The Irene Taylor Trust is a charitable company limited by guarantee and is incorporated in England and Wales. The registered office address and principal place of business is 35-47 Bethnal Green Road, London, E1 6LA.

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

28

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies (continued)

Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity:

Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

29

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies (continued)

Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

25% straight line 25% straight line 25% reducing balance

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Pensions

All staff are enrolled in a work place defined contribution pension scheme.

30

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2021

2 Income from donations

Income from donations
Gift Aid reclaimed
Other income
Taurus Foundation
Lambert Charitable Trust
The Goldsmiths' Company Charity
Julia and Hans Rausing Trust
London Youth
The Fore Foundation
The Rothschild Foundation
The Hanley Trust
Pamela Champion Foundation
Total
Esmee Fairbairn
Tony & Sheelagh Williams Charitable
Foundation
The Schroder Foundation
Joe & Rosa Frenkel Charitable Trust
Garfield Weston Foundation
Odin Trust
Donations from individuals
Gifts in kind
P & M Lovell Charitable Trust
Maingot Charitable Trust
Charitable Trust
Drapers Charitable
Donations from Charitable Trusts:
Henry Smith Charity
The Bromley Trust		 Unrestricted
£
-
10,000
10,000
6,000
6,000
10,000
10,000
2,500
2,500
1,000
-
-
2,500
35,000
50,000
3,000
5,000
5,000
-
-
-
15,586
2,939
3,294		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
480
6,318
-
-		 2021
Total
£
-
10,000
10,000
6,000
6,000
10,000
10,000
2,500
2,500
1,000
-
-
2,500
35,000
50,000
3,000
5,000
5,000
-
-
-
16,066
6,318
2,939
3,294		 Unrestricted
£
25,000
10,000
10,000
-
-
5,000
10,000
2,000
2,500
1,000
50,000
2,000
-
-
-
-
-
-
1,000
3,000
10,000
18,310
-
4,380		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
13,272
-		 2020
Total
£
25,000
10,000
10,000
-
-
5,000
10,000
2,000
2,500
1,000
50,000
2,000
-
-
-
-
1,000
3,000
10,000
18,310
13,272
4,380
-
180,319 6,798 187,117 154,190 13,272 167,462

31

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2021

3 Income from charitable activities

3
Income from charitable activities
National Lottery Community Foundation
Earned income
4
Vintners Foundation
Young Londoners Fund
BBC Children in need
The London Community Foundation
Charles Hayward Foundation
Income from investments
Other Charitable Trusts
Bank interest
Donations from Charitable Trusts
The Evan Cornish Foundation
National Foundation for Youth Music
Arts Council England
Total
Didymus CIO
Harold Hyam Wingate Foundation
Joe & Rosa Frenkel Charitable Trust
Edward Cadbury Charitable Trust
Rideout Creative
Fishmongers’ Company’s Charitable
Trust
Leathersellers Co
Anonymous Trust
Thomas Deane Trust
Henry Oldfield Trust
Wates Foundation
D’Oyly Carte Foundation
Clinks		 Unrestricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
41,569		 £
10,000
7,500
24,159
-
16,740
-
-
36,338
5,000
-
-
3,000
25,000
5,000
-
-
5,000
-
5,000
-
-
-
4,640
-
-
Restricted		 2021
Total
£
10,000
7,500
24,159
-
16,740
-
-
36,338
5,000
-
-
3,000
25,000
5,000
-
-
5,000
-
5,000
-
-
-
4,640
41,569		 Unrestricted
£
-
-
-
-
-
745
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
106,131		 £
-
-
12,892
15,000
17,280
17,158
54,000
21,500
5,000
5,000
2,500
3,000
25,000
-
4,875
2,000
5,000
2,700
5,000
9,775
10,000
5,000
2,400
-
Restricted		 2020
Total
£
-
-
12,892
15,000
17,280
17,903
54,000
21,500
5,000
5,000
2,500
3,000
25,000
-
4,875
2,000
5,000
2,700
5,000
9,775
10,000
5,000
2,400
106,131
41,569 147,377 188,946 106,876 225,080 331,956
Unrestricted
£
171		 £
-
Restricted		 2021
Total
£
171		 Unrestricted
£
731		 £
-
Restricted		 2020
Total
£
731
171 - 171 731 - 731

32

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2021

5 Analysis of expenditure (current year)

Raising
funds
£
37,944
-
-
-
-
-
-
-
-
-
-		 Charitable
activities
£
120,637
-
95,875
-
-
-
-
-
-
-
6,318		 Support
costs
£
41,359
383
-
9,099
22,074
3,959
5,674
2,520
-		 Governance
costs
-
-
-
-
-
-
-
-
9,540
18
-		 2021 Total
£
199,940
383
95,875
9,099
22,074
3,959
5,674
2,520
9,540
18
6,318		 2020
Total
£
215,695
4,560
249,831
11,095
17,264
4,408
6,273
3,302
7,740
49
13,272
37,944
20,354
2,287		 222,830
64,714
7,271		 85,068
(85,068)
-		 9,558
-
(9,558)		 355,400
-
-		 533,489
-
60,585 294,815 - - 355,400

Analysis of expenditure (prior year)

Staff costs (Note 8)
Other staff costs
Project costs
Office running and other costs
Rent, rates and utilities
Repairs and maintenance
Insurance
Professional services
Depreciation
Audit
Governance
Gifts in kind
Support costs
Governance costs
Total expenditure 2020		 Raising
funds
£
42,680
-
-
-
-
-
-
-
-
-
-
-		 Charitable
activities
£
130,034
-
249,831
-
-
-
-
-
-
-
-
13,272		 Support
costs
£
42,981
4,560
-
11,095
17,264
-
4,408
6,273
3,302
-		 Governance
costs
-
-
-
-
-
-
-
-
7,740
49
-		 2020
Total
£
215,695
4,560
249,831
11,095
17,264
-
4,408
6,273
3,302
7,740
49
13,272
42,680
22,211
1,925		 393,137
67,672
5,864		 89,883
(89,883)
-		 7,789
-
(7,789)		 533,489
-
-
66,816 466,673 - - 533,489

33

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2021

6 Net income / (expenditure) for the year

This is stated after charging:

This is stated after charging:
2021 2020
£ £
Depreciation 2,521 3,302
Auditor's remuneration (including VAT):
Audit 6,725 6,600
Operating leases 16,442 16,442
Trustees' expenses 18 50

7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Social security costs
Salaries and wages
Pension cost		 2021
2020
£
£
181,545
195,220
14,868
16,995
3,527
3,480
199,940
215,695

No member of staff received emoluments of more than £60,000 in this year (2020: £nil).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £94,638 (2020: £ 100,425).

The charity trustees were not paid nor received any other benefits from employment with the charity in the year (2020: £nil). One trustee was reimbursed travel expenses during the year £18 (2019: 1 trustee £50). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).

8 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

2021 2020
No. No.
Total 6 6

34

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2021

9 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

10 Tangible fixed assets

At the end of the year
At the start of the year
Charge for the year
Cost
At the start of the year
Depreciation
At the end of the year
Net book value
At the end of the year
At the start of the year
Additions in year		 Office
equipment,
fixtures
and fittings
£
3,877
-		 Musical
Instruments
£
18,559
-		 Motor
vehicles
£
15,000
-		 Total
£
37,436
-
3,877 18,559 15,000 37,436
2,650
411		 18,559
-		 6,562
2,109		 27,771
2,521
3,061 18,559 8,671 30,292
816 - 6,329 7,144
1,227 - 8,438 9,665

All of the above assets are used for charitable purposes.

11 Debtors

Grants receivable
Rent deposit
Accrued income		 2021
2020
£
£
7,735
-
4,677
4,677
12,800
18,096
25,212
22,773

35

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2021

12 Creditors: amounts falling due within one year

Taxation and social security
Accounts Payable
Accruals
Deferred income		 2021
2020
£
£
2,484
5,674
5,890
7,683
9,870
8,250
37,522
8,625
55,766
30,232

13 Analysis of net assets between funds (current year)

Net assets
Net current assets
Tangible fixed assets		 General
unrestricted
£
7,144
112,923		 Designated
Funds
-
30,451		 Restricted
Total
funds
£
£
-
7,144
244,737
388,111
244,737
395,255
120,067 30,451

Analysis of net assets between funds (prior year)

Net current assets
Net assets
Tangible fixed assets		 General
unrestricted
£
8,000
129,591		 Restricted
Total
funds
£
£
-
8,000
236,830
366,421
236,830
374,421
137,591

36

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2021

14 Movements in funds (current year)

Restricted funds:
Total restricted funds
General funds
Designated project funds
Personal Development Coordinator
R&D Lab
Total funds
Designated funds - other
Music projects - General
Sounding Out
Adult Female Prisoners
Lullaby Project
Prison Playlists
Other
25th Anniversary Projects
Making Tracks and progression projects
Unrestricted funds
Adult Male Prisoners
Total unrestricted funds
Children in Prison		 At start of
the year
£
28,678
997
23,850
-
117,664
6,271
29,932
21,999
4,688
-
-
2,751		 Income &
gains
£
-
7,500
22,269
4,880
23,058
12,000
16,000
37,480
-
15,458
15,530
-		 Expenditure
& losses
£
10,869
2,240
16,422
11,703
62,831
3,039
11,649
9,669
4,688
25,069
15,530
2,644		 Transfers
£
21,543
1,857
2,660
7,065
79
17,845
-
(30,574)
9,611
-
-		 At end of
the year
£
39,352
8,114
32,357
242
77,969
33,077
34,283
19,236
-
-
-
107
236,830 154,175 176,353 30,085 244,737
-
-
137,591		 -
-
222,059		 -
-
179,047		 20,550
9,901
(60,536)		 20,550
9,901
120,067
137,591 222,059 179,047 (30,085) 150,518
374,421 376,234 355,400 0 395,255

The narrative to explain the purpose of each fund is given at the foot of the note below.

37

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2021

Movements in funds (prior year)

Total restricted funds
General unrestricted funds
Children in Prison
Total funds
Research
Making Tracks and progression projects
Personal Development Coordinator
Other
Music Projects - General
Sounding Out
Lullaby Project
Adult Female Prisoners
Adult Male Prisoners		 At start of
the year
£
37,001
7,601
-
145,189
30,000
71,207
-
16,423
-		 Income &
gains
£
32,435
-
39,892
78,760
18,315
23,400
23,000
19,250
-
3,300		 Expenditure
& losses
£
120,662
7,604
16,542
106,285
57,704
25,468
40,426
14,562
-
549		 Transfers
£
79,903
1,000
500
-
45,660
2,000
(31,782)
(16,423)
-		 At end of
the year
£
28,678
997
23,850
117,664
6,271
29,932
21,999
4,688
-
2,751
307,421 238,352 389,802 80,858 236,830
100,340 261,797 143,687 (80,858) 137,591
407,761 500,149 533,489 - 374,421

14 Movements in funds (continued)

Purposes of restricted funds

Adult Male Prisoners

Funding received to conduct music projects with men in prison aged 18 years and over.

Adult Female Prisoners

Funding received to conduct music projects with women in prison aged 18 years and over.

Children in Prison

Funding received to conduct music projects with prisoners aged under 18.

Community

Funding received to conduct music projects in the community with adult ex-prisoners (the ' Sounding Out ' programme), young people aged between 14-25 at risk of offending (the ' Making Tracks ' programme in London and the North-West, and progression projects 'Making Tracks Training' and 'Young Producers'), mothers and fathers in challenging circumstances (the 'Lullaby Project').

Music Projects - General

Funding received for programmes that has yet to be allocated to specific projects; funding received to deliver international commisions.

38

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2021

14 Movements in funds (continued)

Purposes of designated funds

Designated funds - other

Funds to cover the Trust's rent liability in the instance of needing to terminate the agreement early.

Designated project funds

Earned income earmarked for future project delivery.

Transfers between funds

Unrestricted funds and general restricted funds have been transferred to specific restricted funds where there has been a shortfall in funding for particular projects or to use unresticted funds or general restricted funds for those projects.

15 Operating lease commitments payable as a lessee

Amounts payable under non-cancellable operating leases are as follows for each of the following periods

2 - 5 Year
Less than one year		 2021
2020
£
£
16,442
1,250
4,111
-
20,553
1,250
Property

16 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

17 Related party transactions

There are no related party transactions to disclose for 2021 (2020: none).

39