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2022-03-31-accounts

Company number: 3637201 Charity number: 1073105

The Irene Taylor Trust

Report and financial statements For the year ended 31 March 2022

The Irene Taylor Trust

Contents

For the year ended 31 March 2022

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 ....................................................................................................... 20 Statement of financial activities (incorporating an income and expenditure account) ................... 24 Balance sheet ............................................................................................................................... 25 Statement of cash flows ................................................................................................................ 26 Notes to the financial statements ................................................................................................. 27

The Irene Taylor Trust

Reference and administrative information

For the year ended 31 March 2022

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
(resigned November 2021)
Kimberley Godley-Hendon Treasurer
(elected November 2021)
Jonathan Adams Vice Chair
Alice Knox (née Beal)
Sarah Davis
James Maloney
Peter Renshaw
Dr Rosie Reynolds (elected July 2021)
Jo Sparrow (elected July 2021; resigned Feb 2022)
Carolyn Taylor
Advisory Group Lucine Bassa
Darren Clugston
Eileen Eastaugh-Mascoll
Reggie Fowell-Boston
Montell Reid
Helen Sychta
Patrons 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 2022

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 2022

The Trustees present their report and the audited financial statements for the year ended 31 March 2022.

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.

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.

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.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2022

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 2021-2024 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

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2022

  1. Develop and establish online and face to face working practices initiated during covid19 restrictions as part of our offer

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

The impact of the ongoing Covid-19 pandemic continued to present many challenges over the year; however, the work undertaken in 2020-21 to adapt delivery methods meant that the Trust was often able to be responsive and flexible in approach.

At times over the year the Trust was able to return to in-person delivery; at others it was necessary to revert to remote and online delivery (see below for more detail): inside prisons, two in-person Music in Prisons intensives took place, as well as two Lullaby Projects ; five Musician in Residence prison placements were able to resume their sessions at various points; two ‘Correspondence Songwriting’ projects were conducted remotely and 14 prisons signed up for a newly created ‘In Cell Learning’ resource. In the community, the Sounding Out programme for former prisoner musicians provided a range of online and in-person activity, including involvement in the ‘Playlists TV Project’; three Making Tracks online projects included our first in Bristol, two in-person projects took place in London, and we were able to resume progression projects Young Producers and Young Workshop Leader Training .

The Trust was commissioned by the Chicago Symphony Orchestra for two online projects to train their musicians, as part of the Notes for Peace project to write songs with bereaved parents in tribute to children lost to gun crime. In March an in-person commission was possible, including work in a juvenile detention centre.

Over the year these projects involved 652 participants (exceeding our target for the year of 600), demonstrating the Trust’s commitment to working with people of all ages across the secure estate and in the community. Additionally, the ‘Playlists’ project was developed for in-cell channel Way Out TV and broadcast in over 50 prisons to an estimated audience of 35,000 prisoners.

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

Music in Prisons

Over the year the pandemic continued to affect staff numbers in prisons, and in some, prisoners have continued to face longer hours locked in their cells. The restrictions to access limited the Trust’s physical delivery; over the year four intensive projects were able to take place, two as part

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2022

of the Lullaby Project, one with young men and one with adult men. The outlook for Music in Prisons intensives is much better in 2022-23, with the expectation of delivering at least 10.

Two of the ‘Correspondence Songwriting’ projects devised last year were delivered with women in prison. ‘Correspondence Songwriting’ was developed as a 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.

The Trust also further developed the ‘Playlists’ project for broadcast on in-cell TV and created a new learning resource (see below for more).

Prison Musicians in Residence

The Trust also runs Musician in Residence placements in key prisons to complement and sustain the impact its intensive projects, through the delivery of weekly music sessions. At various points over the year the Trust was able to recommence in-person delivery for five of the current seven prison Musician in Residence placements. In early 2022 the omicron variant briefly interrupted physical delivery, so to maintain engagement the musicians provided study worksheets. It is hoped that all the placements will resume during 2022-23.

Sounding Out

Sounding Out provides former prisoners who have previously taken part in Music in Prisons projects with ‘through the gate’ support, giving them the opportunity to continue musical activity and engage with tailored progression support for a period of up to two years after their release. Throughout the year the Trust offered a mixed programme of online and in-person projects.

Working online from June, Sounding Out alumni collaborated with our project musicians to create songs for the Playlists programmes broadcast in prisons by Way Out TV and on our YouTube channel. Ad-hoc online line ‘meet up and play’ sessions were open to all Sounding Out alumni, enabling participants to work on and exchange musical ideas to create new material, as well as providing interaction with others who share their interest in music. Following many successful past collaborations, we again partnered with Rideout (Creative Arts for Rehabilitation) to create two podcasts; four Sounding Out alumni worked with project musicians to create four tracks to support these.

In December we were able to deliver an in-person Training project, nurturing the skills required to take on the role of Support Musicians on the Trust’s projects with young people. This has multiple benefits, giving the former-prisoner musicians the opportunity to share their skills and to ‘give something back’, while the young people frequently look up to them as role models. New and previously trained Sounding Out participants took on the Support Musician roles for our in-person Making Tracks, Young Producers and Young Project Leader Training projects throughout the year.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2022

Sounding Out participants also took on ambassadorial roles, such as speaking on National Prison Radio (recorded in the BBC studios) about the impact of the project on their rehabilitation.

More in-person activity for Sounding Out is expected in 2022-23, including special projects to celebrate a decade of the programme.

Making Tracks

Making Tracks targets young people aged 16-25 at risk of offending, including those on the fringes of the criminal justice system and those who are NEET (Not in Education, Employment or Training). Over the year the Trust delivered a mix of adapted online projects and in-person projects, partnering with The Prince’s Trust for online projects with young people from London, Kent, Bristol and Manchester; in-person projects took place with Newham YOT, youth homeless organisation SPEAR London, and The Prince’s Trust. As well as being guided to create original music, the young people were supported to achieve a Bronze Arts Award accreditation and offered progression guidance from our Projects & Progression Coordinator, including on to our own Young Producers and Young Workshop Leader Training schemes.

In September five young people completed a Young Workshop Leaders Training project. The objective of the project was to teach young people the skills needed to take supporting roles on future projects, but feedback demonstrated the wider application of skills learnt. A Young Producers project started in October, supporting three young people to curate and manage their own live event, which they titled ‘Crossroads’. Four additional young artists and one Sounding Out musician also participated as performers. The project concluded with a performance in December at the Old Church in Stoke Newington.

Strengthening profile

Lullaby Project BBC Radio 4 documentary

The Lullaby Project is run in partnership with the Royal Philharmonic Orchestra, delivering musical experiences to strengthen the bond between parents and children, working with disadvantaged parents or those who have been separated from their children by circumstances or incarceration. In July and October we delivered projects with fathers in prison, creating a total of 16 songs for their children. Both projects concluded with a musical sharing with a small audience. On one of these projects the creative process was followed for a beautiful BBC Radio 4 documentary. The documentary was highlighted in the ‘Pick of the Week’ programme and included in the ‘Seriously’ podcast feed, further boosting its reach.

Sharing experience

International work sharing expertise

The Trust’s successful partnership with the Chicago Symphony Orchestra continued, with three further commissions during the year (two online, one returning to the pre-pandemic in-person model) and more scheduled for 2022-23. The commissions involved training CSO’s Civic Fellows

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2022

in both custodial and community settings, including collaborating on Notes for Peace, a project to create musical tributes to loved ones lost through gun violence in Chicago. Following a long postponement during travel restrictions, plans were made for the Trust to return to also travelled again to Norway in June 2022.

Inspiring Futures research

The partnership on the National Criminal Justice Arts Alliance’s ‘Inspiring Futures’ research began during the year, with a prison-based Lullaby Project and Musician In Residence sessions included in the fieldwork. Two further Music in Prisons intensives are due to be included in 2022-23, with the final evaluation report due to be published in 2023.

Developing projects, approach and team

‘Playlists’ developed for prison TV

In 2020-21 the Trust partnered with 14 prisons for a 20-week ‘Playlists’ music appreciation project, originally delivered via CDs and worksheets; in April 2021 the Trust was awarded an Arts Council England Cultural Recovery grant which included funds to expand the series as a 9-part TV series for broadcast in prisons on in-cell TV. The series features the Trust’s expert musicians and Sounding Out former prisoner artists discussing a range of musical genres and creating new pieces of music in each genre featured.

The series was filmed in June and broadcast several times by Way Out TV in over 50 prisons to an estimated audience of 35,000 prisoners, introducing them to musical genres with which they may not be familiar and encouraging further listening and creative activity. The project provided an important means of maintaining our relationships with prison partners, while also providing an entry point to potential new prison partners for the future. The series is also available to watch on the Trust’s YouTube channel.

Emerging Artists programme in collaboration with Drake Music

Towards the end of the year funding was secured from Arts Council England to pilot a new twoyear scheme to give four exceptionally talented former participants the opportunity to train as Emerging Artists, including mentoring from the Trust’s musicians, supporting them to develop facilitation skills and professionally record and release their own music. The programme is also an opportunity for the Trust to collaborate and share learning with Drake Music.

Musical Development Grants

Thanks to a kind and generous individual donor, the Trust was able to begin trialing a new scheme to make small but very significant grants to our former project participants to support their further musical development, including buying them additional external music tuition, instruments or recording equipment.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2022

Advisory Group of former participants

The Trust continued to benefit from the input of an Advisory Group, created the previous year, ensuring that user-voice is heard directly by the Board, providing invaluable feedback and influencing the Trust’s strategic direction. The Advisory Group meet prior to the Trustees’ quarterly meetings and discuss their thoughts with a Trustee, who then reports to the Board on their discussions and recommendations.

Trustee recruitment

During the year Paul Meitner decided to step down from the Board as Hon. Treasurer. Following an open recruitment process, the Trust was delighted to welcome new Trustees Dr Rosie Reynolds and Kimberley Godley-Hendon (who is also as the new Treasurer).

Diversifying income streams

Earned income

The Trust’s earned income was greatly impacted the previous year by restrictions to physical delivery, falling to 11% of income, compared to 21% in 2019-20. Good progress was made in 2021-22 with the level rising to 18.5% and the Trust is optimistic about returning to circa 20% in future years as restrictions continue to be lifted. Despite the challenges presented over the last two years, earned income remains significantly higher than when this strategic aim was first established in 2015-16, when it represented 7% of total income.

Corporate support

The Trust was delighted to receive corporate support from Sony Music’s Social Justice Fund, which included useful in-kind support as well as financial support.

Develop and establish working practices initiated during covid-19 restrictions

In-cell Learning Resource

Towards the end of the previous year, as restrictions to in-person prison delivery remained, the Trust began work on a new in-cell learning resource, completed in 2021-22, which was useful both during lockdown restrictions and for future use with 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.

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

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2022

online or remote delivery, including work with young people and expanding the Sounding Out programme to new regions.

Public benefit

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

In 2022-23 the Trust will continue to:

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 £111,304, which included Designated Funds of £4,110 (for rent liability), and free reserves excluding fixed assets of £101,140, which is equivalent to approximately 5 months’ running costs, falling just within the target range. The Trustees therefore consider the Trust to be a viable going concern.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2022

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.
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 &

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2022

For theyear ended 31 March 2022
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.

Financial Review

During the year the Trust worked hard to rebuild momentum, though ongoing restrictions to accessing prisons resulting from the pandemic continued to have 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 £38,282 higher than in 2020-21 (£414,516, compared to £376,234 the previous year) and there was increase in expenditure of £90,676 (£446,076 compared to £355,400 the previous year), with a small deficit for the year of £31,560.

The Trust maintained a reasonable level of unrestricted income, down on the previous year by £62,431, at £159,628, compared to £222,059 in 2020-21, balanced out by a correlating reduction in unrestricted expenditure, down £63,441 from £179,047 in 2020-21 to £115,606 in 2021-22.

There was a significant increase in restricted income of £100,713, totalling £254,888 in 2021-22, compared to £154,175 in 2020-21; restricted expenditure increased by £154,117, from £176,353 in 2020-21 to £330,470 in 2021-22. This was in part due to a restricted Cultural Recovery grant from Arts Council England and the Department for Digital, Culture, Media & Sport including £55,000 restricted to covering staff salaries and office costs, and also indicative of the gradual resumption of in-person project models (which cost more to deliver) throughout the year.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2022

The Trust was successful in responding to the changing restrictions affecting project delivery, running both in-person projects and adapted online and remote delivery models throughout the year as necessary; overall expenditure on charitable activities improved on the previous year, up by £89,542 at £384,357, compared to £294,815 in 2020-21.

Having continued to successfully weather the storm of another 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 cautiously comfortable with the current situation, they remain alert to possible indicators of change, and are aware that charities are likely to face continued challenges around fundraising in the next 12 months. The Trustees remain committed to assisting the Trust to achieve continued success in 2022-23 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.

Approach to Fundraising

The Trust adheres to the Code of Fundraising Practice, data protection legislation (including the new GDPR) 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

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2022

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.

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 19[th] October 2022 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 2022

The hard work invested by the Irene Taylor Trust last year in adapting our delivery methods to work around restrictions paid off significantly this year, as the need to be highly flexible and responsive continued. While we hoped that the return to in-person work would be a smoother and speedier process, we were well-prepared for the unseen bumps in the road, allowing us to reach 652 people through our projects.

Throughout the year we were proud to see the difference our work makes in people’s lives, as the quotes included later in this report demonstrate. This process of change was beautifully captured in a BBC Radio 4 documentary following the stories of three fathers in prison taking part in one of our Lullaby Projects, which is still available to listen to on the ‘Seriously’ podcast feed. The prison Governor was also interviewed, stating that “family bonding is one of the biggest things that will stop reoffending and returning to prison” and we see time and again through our work the power of music to open conversations and build bridges.

During the year we were sad to bid farewell to Paul Meitner, who has been an intrinsic part of the Trust from the early days. His contributions as Hon. Treasurer have helped the Trust to grow from strength to strength and all of us are grateful for his dedication, insight and good humour over the years.

We were delighted to welcome Kimberley Godley-Hendon to the Board as our new Treasurer in November, bringing a wealth of skills from her role at Spitalfields Music and the benefit of fresh eyes to our financial processes. Earlier in the year we were thrilled to invite Dr Rosie Reynolds to join the Board following a recruitment drive for Trustees with expertise in criminal justice.

Teamwork and collaboration are at the heart of what we do on our projects and equally important ‘behind the scenes’; our success in flourishing during another challenging year is the result of everyone involved in the Trust continuing to show their commitment, enthusiasm and determination. Huge thanks to all our project participants, musicians, office staff, Advisory Group, Trustees, prison and community partners. 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 this year.

Jane Anderson Chair of Trustees

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The Irene Taylor Trust

Artistic Director’s annual report

For the year ended 31 March 2022

We really found our groove working online during the lockdowns, but by far the most exciting part of this year was starting to see people again in the flesh, as it became clear that things were beginning to move back to three dimensions, as opposed to the two we’d become resigned to during ‘the Zoom years’. Things still felt unpredictable and precarious; restrictions were beginning to lift, and prisons were getting back in touch to reinstate their Musicians in Residence and request intensive projects; however, often no sooner than we’d excitedly made plans and booked teams and accommodation, there’d be another outbreak and the prison gates would close again. It was a challenging and frustrating time, yet the light at the end of the tunnel was getting brighter, and the feedback received from those we’d not seen in-person for over 18 months absolutely made up for every small setback.

After having to celebrate the Trust’s 25[th] birthday online in 2020, we were delighted to start planning a big public event to celebrate the 10[th] anniversary of two of our community projects, Making Tracks and Sounding Out, later in 2022. This will give us the chance to showcase the skills and achievements of those we work with, who will be supported by all the wonderful musicians who are the lifeblood of the organisation. In February, one of our founding musicians, Nick Hayes, received an ‘Inspirational Educators Award’ from the Worshipful Company of Educators for all the incredible creative work he’s been engaged in with prisoners and young people during his years with the Irene Taylor Trust. It’s not often that work in the field of criminal justice gets publicly recognised, so this award meant a great deal to us all.

We were fortunate enough to be able to get back into prisons to deliver two in-person Lullaby Projects very soon after the restrictions were lifted, something the dads we worked with found extremely emotional. For the first group we met, it was their first interaction with any outside organisation for well over a year. For the second, a Radio 4 documentary charted their journey through the project, which brought into focus the impact of being separated from their children. The projects provided the opportunity to create something unique as a gift, a song written specially for and about their children, ensuring vital family ties remain strong.

Looking ahead, we feel optimistic. While the past year and indeed the whole pandemic was incredibly challenging, it also gave us the chance to learn and develop our methods of working, which will continue to be useful in the coming year and beyond.

Sara Lee Artistic Director

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The Irene Taylor Trust

Major Donor List

For the year ended 31 March 2022

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 Arts Council England BBC Children in Need Beating Time Bedford Memorial Charitable Trust Clinks Fishmongers’ Company’s Charitable Trust Joe and Rosa Frenkel Trust National Foundation for Youth Music Sony Music Entertainment

Unrestricted Donations 29[th] May 1961 Charitable Trust Bromley Trust Hanley Trust Henry Smith Charity Lambert Charitable Trust Swire 2765 Charitable Trust 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 2022

PARTICIPANTS
PROGRAMME/ PROJECT DESCRIPTION
Music in Prisons, Musicians in Weekly music sessions with people in 139
Residence prisons
Music in Prisons, intensive projects & Collaborative song-writing projects 30
‘Correspondence Song-writing’
Music in Prisons, ‘In Cell Learning Prisoners using new ‘In Cell Learning’ DVD 350
Resource’ & handbook series
Sounding Out Training programme for adult former 13
prisoners in London
Making Tracks & progression projects Community programmes for NEET young 66
people in London, Kent, Bristol and
Manchester
International Training Projects Commissions from Chicago Symphony 38
Orchestra to train Civic Fellows and work
with juveniles in detention and bereaved
parents
Lullaby Project Partnership project reaching participants 16
in both community and prison settings
652

Total

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

“They have experienced something incredible… most prisoners have a lack of self-esteem, lack of ambition and don’t even realise how isolated they’ve become, and this interaction with such talented people allows them to experience a sense of release, normality and frequently sparks off an element of positivity which they’ve not experienced in life,” Prison Governor

“It has been amazing. One of the best things I have ever been a part of. I loved it,” Music in Prisons participant

“Helped me clear my mind. Music helps you feel lighter,” Music in Prisons participant

Sounding Out

“Brilliant. Learnt loads. Brushed up on a lot of skills. The facilitators taught us in the phase of moving from one skill to another-they are teaching us exactly what they do,” Sounding Out participant

18

The Irene Taylor Trust

Project reports

For the year ended 31 March 2022

“I got a lot from the session and a good insight on where to go with promoting my own music. Thanks for the opportunity,” Sounding Out participant

Making Tracks

“I was sceptical at first but I’m glad I gave it a chance because it was one of the best things I’ve done in my life…” Making Tracks participant

“I had a lot of fun and gained new skills that I will definitely be using in the future,” Making Tracks participant

“I’m going to transfer what I’ve learnt in the projects but also in my personal life as well,” Young Workshop Leader Trainee

"I have learned to be calm and collected when organising an event," Young Producer

Musical Development Grants

“I just want to say a very big thank you to ITT. I’m so grateful. My life really took a turn for the worst from January onwards so this grant has helped me massively.”

"Having the guitar delivered has already improved my quality of life because I have gone back to making music: which I enjoy very much. As I said, it is a very big part of my life."

Lullaby Project

“I gained more confidence. I sang in front of people, when I normally wouldn’t have done that,” Lullaby Project participant

“It's another method of commitment I'm giving to my daughter and something unique for her that can last a generation,” Lullaby Project participant

Notes for Peace project with Chicago Civic Orchestra

“This made my day, my week, my month, my last ten years,” Notes for Peace participant

“I reach and reach for things my arms can never touch. I never thought I would be blessed with something so beautiful,” Notes for Peace participant

“I feel his arms around me right now. I'm honoured to have you do this for my son. I tried to take my life twice, and then realised I have to stay here for him. I have to tell his story. This helps me do that,” Notes for Peace participant

19

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 2022 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).

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.

20

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

21

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:

22

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)

28 October 2022

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

23

The Irene Taylor Trust

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

For the year ended 31 March 2022

For theyear ended 31 March 2022
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
6
Charitable activities
Total funds carried forward
Transfers between funds
Net movement in funds
Total funds brought forward		 Unrestricted
£
82,711
76,886
31		 Restricted
£
13,750
241,138
-		 2022
Total
£
96,461
318,024
31
414,516
61,719
384,357
446,076
-
(31,560)
395,255
363,695
(31,560)		 Unrestricted
£
180,319
41,569
171		 Restricted
£
6,798
147,377
-		 2021
Total
£
187,117
188,946
171
159,628 254,888 222,059 154,175 376,234
61,719
53,887		 -
330,470		 60,585
118,462		 -
176,353		 60,585
294,815
115,606 330,470 179,047 176,353 355,400
(83,236)
44,022		 83,236
(75,582)		 (30,085)
43,012		 30,085
(22,178)		 -
20,834
(39,214)
150,518		 7,654
244,737		 12,927
137,591		 7,907
236,830		 20,834
374,421
111,304 252,391 150,518 244,737 395,255

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 14 to the financial statements.

24

The Irene Taylor Trust

Balance sheet

Company no. 3637201

As at 31 March 2022

Note
Fixed assets:
10
Current assets:
11
Liabilities:
12
14
Total unrestricted funds
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
Designated
Debtors
Creditors: amounts falling due within one year
Net current assets		 2022
£
67,874
329,520		 2022
£
6,054
6,054
357,641
363,695
252,391
111,304
363,695		 2021
£
25,212
418,665		 2021
£
7,144
7,144
388,111
397,394
(39,753)		 443,877
(55,766)
4,110
107,194		 30,451
120,067
395,255
244,737
150,518
395,255

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 19 October 2022 and signed on their behalf by

Jane Anderson Chair of Trustees

25

The Irene Taylor Trust

Statement of cash flows

For the year ended 31 March 2022

For the year ended 31 March 2022
Cash flows from operating activities
Cash at bank and in hand
a
Total cash and cash equivalents
Analysis of cash and cash equivalents
Net (expenditure) / income for the reporting period
(as per the statement of financial activities)
(Decrease)/Increase in creditors
Depreciation charges
(Increase) in debtors
Net cash provided by operating activities
Cash flows from investing activities:
Interest receivable
Net cash (used in) / provided by 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 provided by / (used in) in operating activities
Proceeds from the sale of fixed assets
Purchase of fixed assets
Cash flows from operating activities
Investment income		 £
£
(31,560)
2,295
(31)
(42,662)
(16,013)
-
(87,971)
(87,971)
31
(1,204)
(1,174)
(89,145)
418,665
329,520
At 1 April
2021
Cash flows
£
£
418,665
(89,145)
418,665
(89,145)
2022		 £
£
20,834
2,521
(171)
(2,439)
25,534
(3,750)
46,279
46,279
171
-
171
46,450
372,215
418,665
Other non-
cash
changes
At 31
March
2022
£
£
-
329,520
-
329,520
2021
31
(1,204)		 171
-
(87,971)
(1,174)		 46,279
171
At 1 April
2021
£
418,665		 Other non-
cash
changes
£
-
(89,145)
418,665		 46,450
372,215
329,520 418,665
Cash flows
£
(89,145)		 At 31
March
2022
£
329,520
418,665 (89,145) - 329,520

26

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2022

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.

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.

27

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2022

1 Accounting policies (continued)

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:

�Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.

�Expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the charity �and their associated support costs

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:

�Raising funds 23%

�Charitable activities 77%

Operating leases

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

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:

�Office fixtures, fittings and equipment 25% straight line �Musical instruments 25% straight line �Motor vehicles 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.

28

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2022

2 Income from donations

Income from donations Income from donations
Unrestricted
£
Henry Smith Charity
30,000
The Bromley Trust
10,000
Maingot Charitable Trust
-
Swire 2765 Charitable Trust
15,000
29th May 1962 Charitable Trust
5,000
Drapers Charitable
-
Taurus Foundation
-
The Goldsmiths' Company Charity
-
Lambert Charitable Trust
2,500
The Hanley Trust
3,000
P & M Lovell Charitable Trust
1,000
Esmee Fairbairn Foundation
-
Julia and Hans Rausing Trust
-
Schroder Foundation
-
London Youth
-
The Fore Foundation
-
The Rothschild Foundation
-
Tony & Sheelagh Williams Charitable Fou
-
Donations from individuals
13,840
-
2,371
82,711
Total
Gift Aid reclaimed(HMRC)
Donations from Charitable Trusts:
Gifts in kind		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
13,750
-		 2022
Total
£
30,000
10,000
-
15,000
5,000
-
-
-
2,500
3,000
1,000
-
-
-
-
-
-
-
13,840
13,750
2,371		 Unrestricted
£
-
10,000
10,000
6,000
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
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
82,711 13,750 96,461 186,319 6,798 193,117

29

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2022

3 Income from charitable activities

Income from charitable activities Income from charitable activities
Unrestricted
£
Projects in the community
National Lottery Community Foundation
-
Bedford Memorial Trust
-
The Evan Cornish Foundation
-
Beating Time
-
PRS for Music Foundation
-
BBC Children in Need
-
Sony Music Entertainment
-
Young Londoners Fund
-
National Foundation for Youth Music
-
Arts Council England
-
Harold Hyam Wingate Foundation
-
Joe & Rosa Frenkel Charitable Trust
-
Fishmongers’ Company’s Charitable Trus
-
Vintners Company
-
Anonymous Trust
-
Henry Oldfield Trust
-
Clinks
-
-
Other
-
Gift Aid reclaimed(HMRC)
Earned income
76,886
Sub-total
76,886
76,886
Legacy donation of behalf of the
Wardman Estate
Donations from Charitable Trusts
Total		 £
-
21,000
-
1,800
700
11,721
25,000
-
13,500
105,142
-
3,000
25,000
-
-
-
9,775
22,000
2,000
500
-
Restricted		 2022
Total
£
-
21,000
-
1,800
700
11,721
25,000
-
13,500
105,142
-
3,000
25,000
-
-
-
9,775
22,000
2,000
500
76,886		 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
76,886 241,138 318,024 41,569 147,377 188,946
76,886 241,138 318,024 41,569 147,377 188,946

4 Income from investments

Income from investments
Bank interest Unrestricted
£
31		 £
-
Restricted		 2022
Total
£
31		 Unrestricted
£
171		 £
-
Restricted		 2021
Total
£
171
31 - 31 171 - 171

30

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2022

5 Analysis of expenditure (current year)

Staff costs (Note 7)
Other staff costs
Project costs
Office running and other costs
Rent, rates and utilities
Insurance
Professional services
Depreciation
Audit
Governance
Gifts in kind
Support costs
Governance costs
Total expenditure 2022
Total expenditure 2021		 Raising
funds
£
38,006
-
-
-
-
-
-
-
-
-
-		 Charitable
activities
£
126,422
-
165,305
-
-
-
-
-
-
-
13,750
305,477
72,375
6,505
384,357
294,815		 Support
costs
£
43,229
3,714
-
9,859
22,450
4,287
8,299
2,295
-
-
-		 Governance
costs
-
-
-
-
-
-
-
-
8,460
-
-		 2022 Total
£
207,657
3,714
165,305
9,859
22,450
4,287
8,299
2,295
8,460
-
13,750		 2021
Total
£
199,940
383
95,875
9,099
22,074
3,959
5,674
2,520
9,540
18
6,318
38,006
21,758
1,955		 94,133
(94,133)
-		 8,460
-
(8,460)		 446,076
-
-		 355,400
-
-
61,719 - - 446,076 355,400
60,585 - - -

Of the total expenditure £115,606 (2021: £179,047) was unrestricted and £330,470 (2021: £176,353) was restricted.

Analysis of expenditure (prior year)

Staff costs (Note 7)
Other staff costs
Project costs
Office running and other costs
Rent, rates and utilities
Insurance
Professional services
Depreciation
Audit
Governance
Gifts in kind
Support costs
Governance costs
Total expenditure 2021		 Raising
funds
£
37,944
-
-
-
-
-
-
-
-
-
-		 Charitable
activities
£
120,637
-
95,875
-
-
-
-
-
-
-
6,318
222,830
64,714
7,271
294,815		 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
37,944
20,354
2,287		 85,068
(85,068)
-		 9,558
-
(9,558)		 355,400
-
-
60,585 - - 355,400

31

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2022

6 Net income / (expenditure) for the year

This is stated after charging:

This is stated after charging:
2022 2021
£ £
Depreciation 2,295 2,521
Auditor's remuneration (including VAT):
Audit 7,050 6,725
Operating leases 22,450 16,442
Trustees' expenses - 18

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

Staff costs were as follows:

Staff costs were as follows:
Salaries and wages
Social security costs
Pension cost		 2022
£
188,058
15,952
3,647		 2021
£
181,545
14,868
3,527
207,657 199,940

No member of staff received emoluments of more than £60,000 in this year (2021: £nil).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £104,484 (2021: £ 94,638).

The charity trustees were not paid nor received any other benefits from employment with the charity in the year (2021: £nil). No trustee was reimbursed travel expenses during the year(2021: 1 trustee £18). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).

32

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2022

8 Staff numbers

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

2022 2021
No. No.
Total 5 6

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

Tangible fixed assets
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
At the end of the year
At the start of the year
Charge for the year		 Office
equipment,
fixtures
and fittings
£
3,877
1,204		 Musical
Instruments
£
18,559
-		 Motor
vehicles
£
15,000
-		 Total
£
37,436
1,204
5,081 18,559 15,000 38,640
3,061
713		 18,559
-		 8,671
1,582		 30,292
2,295
3,774 18,559 10,253 32,587
1,307 - 4,747 6,054
816 - 6,329 7,144

All of the above assets are used for charitable purposes.

33

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2022

11 Debtors

Debtors
Grants receivable
Prepayments
Rent deposit
Accrued income		 2022
£
-
4,677
299.00
62,898		 2021
£
7,735
4,677
-
12,800
67,874 25,212

12 Creditors: amounts falling due within one year

Taxation and social security
Accounts Payable
Accruals
Deferred income		 2022
£
534
4,722
10,620
23,877		 2021
£
2,484
5,890
9,870
37,522
39,753 55,766

13 Analysis of net assets between funds (current year)

Net current assets
Tangible fixed assets
Net assets		 General
unrestricted
£
6,054
101,140		 Designated
Funds
-
4,110		 Restricted
£
-
252,391		 Total
funds
£
6,054
357,641
107,194 4,110 252,391 363,695

Analysis of net assets between funds (prior year)

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

34

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2022

14 Movements in funds (current year)

Restricted funds:
Adult male prisoners
Adult female prisoners
Children in prison
Emerging Artists Project
Lullaby Project
Making Tracks and progression projects
Musical Development Fund
Playlists TV Project (Sounding Out)
Ridgeway Secure Unit
Sounding Out
Community
Arts Council England - other
Music Projects – General
Total restricted funds
General funds
Total funds
Designated funds - other
Total unrestricted funds
Unrestricted funds
Designated project funds		 At start of
the year
£
44,595
8,114
32,358
-
34,283
77,966
-
-
-
33,077
145,326
-
14,344		 Income &
gains
£
10,500
-
11,721
25,142
11,185
33,065
2,500
21,000
-
28,000
120,892
55,000
56,775		 Expenditure
& losses
£
81,945
9,007
11,055
-
35,080
82,183
733
21,009
412
21,850
161,266
55,000
12,198		 Transfers
£
70,972
893
(6,387)
4,000
5,100
6,689
-
-
412
23
16,223
-
1,535		 At end of the
year
£
44,122
0
26,637
29,142
15,488
35,537
1,767
- 9
-
39,250
121,175
-
60,456
244,737 254,888 330,470 83,236 252,391
20,550
9,901
120,067		 -
-
159,628		 -
-
115,606		 (16,440)
(9,901)
(56,895)		 4,110
-
107,194
150,518 159,628 115,606 (83,236) 111,304
395,255 414,516 446,075 - 363,695

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

35

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2022

Movements in funds (prior year)

Restricted funds:
Total restricted funds
General funds
Other
Unrestricted funds
Total unrestricted funds
Total funds
Designated funds - other
Designated project funds
Adult Female Prisoners
Children in Prison
Making Tracks and progression projects
Sounding Out
Lullaby Project
Music projects - General
Personal Development Coordinator
25th Anniversary Projects
Adult Male Prisoners		 At start of
the year
£
28,678
997
23,850
117,664
6,271
29,932
24,750
4,688
-
-		 Income &
gains
£
9,879
7,500
22,269
23,058
12,000
16,000
32,481
-
15,458
15,530		 Expenditure
& losses
£
22,569
2,240
16,422
62,834
3,039
11,649
12,313
4,688
25,069
15,530		 Transfers
£
28,607
1,857
2,660
79
17,845
-
(30,574)
-
9,611
-		 At end of the
year
£
44,595
8,114
32,358
77,966
33,077
34,283
14,344
-
-
-
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 - 395,255

36

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2022

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 commissions.

Arts Council England - other

Funding relates to salaries and overhead cost.

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 unrestricted funds or general restricted funds for those projects.

37

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2022

15 Operating lease commitments payable as a lessee

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

Less than one year
2 - 5 Year		 2022
2021
£
£
16,442
16,442
-
4,111
16,442
20,553
Property		 2022
2021
£
£
16,442
16,442
-
4,111
16,442
20,553
Property
16,442 20,553

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

Aggregate unrestricted donations from trustees were £570 (2021: £240). There are no other related party transactions to disclose for 2022 (2021: none).

38