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2024-03-31-accounts

Company number: 3637201 Charity number: 1073105

The Irene Taylor Trust

Report and financial statements For the year ended 31 March 2024

The Irene Taylor Trust

Contents

For the year ended 31 March 2024

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 2024

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
Kimberley Godley-Hendon Treasurer
Jonathan Adams Vice Chair
Sarah Davis
James Maloney
Peter Renshaw (Resigned April 2024)
Dr Rosie Reynolds (Resigned April 2024)
Carolyn Taylor
Advisory Group Lucine Bassa
Darren Clugston
Eileen Eastaugh-Mascoll
Reggie Fowell-Boston
Lisa Majithia
Montell Reid
Helen Sychta
Benjamin Yacoub
Principal staff Sara Lee Artistic Director
Luke Bowyer Funding & Communications Director
Jake Tily Creative Programmes Director
Bankers HSBC Bank PLC
5 Wimbledon Hill Road
London
SW19 7NF

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The Irene Taylor Trust

Reference and administrative information

For the year ended 31 March 2024

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 110 Golden Lane London EC1Y 0TG

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2024

The Trustees present their report and the audited financial statements for the year ended 31 March 2024.

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 Funding & Communication Director, Creative Programmes Director and Finance & Operations Manager.

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 2024

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 periodically reviews 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 were 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 2024

  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

This year the Trust sought to continue to rebuild momentum of project delivery following the pandemic, despite ongoing challenges. Inside prisons, 10 in-person Music in Prisons intensives took place, including a Lullaby Project and a special project with Kestrel Theatre; five Musician in Residence prison placements provided ongoing sessions; and the ‘Mixtape Project’ created a new in-cell resource for young people in prison. There was also a special project at Ridgeway Secure Unit. In the community, the Sounding Out programme for former prisoner musicians provided a range of activities; five Making Tracks projects included our first project in Newcastle-upon-Tyne, and we were able to offer a range of progression projects to the young people.

The Trust was also commissioned by the Chicago Symphony Orchestra Association for two projects to train young musicians from the Civic Orchestra of Chicago, including on the Notes for Peace project to write songs with bereaved parents in tribute to children lost to gun crime.

Over the year these projects involved 674 participants, demonstrating the Trust’s commitment to working with people of all ages across the secure estate and in the community. The year ended on a highpoint with the Trust being named as the Royal Philharmonic Society’s ‘Gamechanger’ award winner.

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

justice system

Music in Prisons

Over the year staff numbers in prisons continued to be an issue, leading to some projects being postponed and rescheduled. Despite this, by taking a flexible approach and making adaptations to project formats when necessary (such as delivering over four days if a prison was not able to facilitate a full five-day project), the Trust was able to run 10 projects (including two special collaborative projects, more below), meeting our target for the year.

The Trust’s well-established intensive-model prison projects were accessible to all regardless of musical ability or experience, often attended by individuals not already engaged in meaningful prison activities. For all participants, projects provided a range of positive outcomes such as increased self-esteem and confidence, improved ability to listen and engage effectively with

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2024

others, and greater motivation to access further educational opportunities. Projects also gave individuals with previous musical experience the opportunity to work alongside professional musicians to share and hone their musical skills.

During each project, the Trust’s experienced team of project leaders worked in teams of three, using a plethora of musical and interpersonal skills to enable and support the participants to come together as a band to write their own original music, which was also performed live and recorded and professionally mixed for CD, complete with bespoke artwork. These CDs provided a lasting record for participants, also helping to generate positive links between the participants and their family and friends by promoting a sense of shared pride in their achievements.

The positive influences of the projects was noted in feedback received from prison staff: On a scale of 1-5 with 5 indicating a high level of impact, 82% rated the increase to participants’ selfesteem as 5; 91% indicated 5 when asked how much prisoners’ motivation and aspiration had increased; 100% indicated 5 or 4 when asked how much prisoners’ team-working skills had improved as a result of the project. Feedback from the prisoners indicated that 98% wished to continue making music.

Prison Musicians in Residence

The Trust also runs Musician in Residence placements in key prisons to complement and sustain the impact of its intensive projects, through the delivery of weekly music sessions. Delivery was anticipated to take place in seven prisons, but logistical issues from the prisons meant that two of the placements were delayed until 2024-25.

The positive impact of the placements was demonstrated in feedback received from the participants: 83% reported increased self-confidence; 61% felt more motivated to take part in other education or training opportunities, and 72% reported increased hope for the future.

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. Previously trained Sounding Out participants took on Support Musician roles projects with young people throughout the year. Sounding Out participants also took on ambassadorial roles, such as speaking and performing at St Columba’s church, at a special Justice Service at Southwark Cathedral and to a 800 person audience at the Freemasons’ Hall.

Making Tracks

Making Tracks targets young people aged 16-25 experiencing challenging circumstances, including those at risk of offending, or not in education, employment or training. Over the year the Trust delivered five projects in partnership with The Prince’s Trust in London, Kent, Bristol, Manchester and Newcastle-upon-Tyne. Feedback from the young people taking part showed that

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2024

67% felt more confident as a result of the projects; 72% felt their team-working skills had improved; 76% reported an increase in their musical skills.

As well as being guided to create original music, the young people were supported to achieve a Bronze Arts Award accreditation and offered further support from our Projects & Progression Coordinator, including referrals to our own Young Producers and Young Workshop Leader Training schemes, taking part in specially organised personal development workshops, or applying for a Musical Development Grant.

Strengthening profile

Royal Philharmonic Society ‘Gamechanger’ Award

The work of the Irene Taylor Trust and our Artistic Director Sara Lee was recognised by the RPS Awards 2024 with their ‘Gamechanger’ award ‘for those who in unique and contemporary ways break new ground in classical music. It is specially presented by the Board and Council of the RPS to an initiative, individual, group or organisation for their inspirational and transformative work.’ A special video tribute was shown at the awards ceremony, which was subsequently made available to view online.

Young Producers performance

In the autumn former Making Tracks participants Arlo, Muminah and Conrad took on the opportunity to become our Young Producers, collaborating over several weeks to curate their show ‘Neon Turquoise’ at Rich Mix (and also livestreamed) – a exciting event featuring other young artists previously involved in Making Tracks and musicians from Sounding Out.

Sharing experience

International work sharing expertise

The Trust’s successful partnership with the Chicago Symphony Orchestra continued, with two further commissions during the year. The commissions involved training CSO’s Civic Fellows, including for Notes for Peace, a project to create musical tributes to loved ones lost through gun violence in Chicago. Further projects are planned for 2024-25.

Inspiring Futures research

The Trust’s work is included in the National Criminal Justice Arts Alliance’s ‘Inspiring Futures’ research commission, conducted by University of Cambridge’s Institute of Criminology, which was published during the year.

Artists’ Care research collaboration

During the year work began on the Artists’ Care project, a collaboration between three partner organisations who provide music and creative arts projects in challenging and complex settings – the Trust, Good Vibrations and Hear Me Out - and two research organisations with specialisms in researching arts projects in such settings – the Royal Northern College of Music and the University

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2024

of Wolverhampton. It seeks to answer the following question: “How can supervision and care for those working in challenging and complex settings be structured, funded and embedded within organisational structures to ensure that artists and frontline staff are appropriately supported, maintaining the quality of their work and sustaining careers?” The ethnographic research stage will continue next year.

Developing projects, approach and team

Youth Music Recharge Fund

The second year of support from Youth Music Recharge Fund allowed us to continue trialling new wellbeing practices to enhance our resilience. The Fund aims to recharge music organisations from the impact of the pandemic and support people to make, learn or earn in music. Projects made possible by this funding included offering external supervision sessions to those in the team at risk of experiencing secondary trauma from delivering our work and running our annual ‘RnD Lab’ CPD training opportunity for our musicians, which this year focused on the issues surrounding the LGBTQIA+ community.

The Lullaby Project

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 June the Trust ran the final prison project of the second phase with dads in prison, and planning began for a third phase of the programme.

Winter Show project

In December the Trust was thrilled to partner for the fourth time with Kestrel Theatre Company, creating a family-friendly seasonal show with live original music with dads in prison; a truly joyful event, with four performances to audiences including families.

Young workshop leader training

This traineeship offers talented young people from Making Tracks interested in forging careers in music education the opportunity to receive training from our experienced Project Team music facilitators and hands-on experience in becoming music workshop leaders themselves. During the year four young people were trained and began to undertake work placements.

Emerging Artists programme in collaboration with Drake Music

Work continued on a multi-year pilot scheme supported by Arts Council England to give five 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.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2024

Musical Development Grants

Thanks to a kind and generous individual donor, for the third year the Trust was able to continue a 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.

Advisory Group of former participants

The Trust continued to benefit from the input of an Advisory Group, created in 2021, 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; two representatives from the group then report to the Board on their discussions and recommendations.

Diversifying income streams

Earned income

This year earned income continued to form a healthy proportion of income at 16%.

Develop and establish working practices initiated during covid-19 restrictions

Mixtape Project

Based on the success of ‘beat making’ projects with HMYOIs, during the year a new resource was created for young people in prison to use at their leisure. ‘The Mixtape’ remote resource consists of a series of interactive song-writing guides and CDs with backing tracks, to which lyrics can be written. Copies were distributed to young people in HMYOIs Cookham Wood, Feltham, Parc, Werrington and Wetherby.

Learning from project adaptations

Although the Trust adapted project delivery though necessity during lockdown restrictions, the process has provided much valuable learning and there have been elements that have proved unexpectedly successful, some of which are being incorporated into regular delivery; Making Tracks now uses a mixed model, with the taster session and follow-on sessions taking place online. The Trust is currently developing plans to use online delivery to expand the reach of Sounding Out.

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.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2024

Plans for the Future

During the year the Trustees, Advisory Group and office staff collaborated to create a new 3-year Strategic Plan for 2024-27, with the following key objectives for the Trust:

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 £110,893, which included Designated Funds of £4,100 (for rent liability), and free reserves excluding fixed assets of £104,122 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.

Risks Policy

The risks to which the charity is exposed are monitored on a quarterly 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 current principal organisational risks and the strategies in place to mitigate them are:

Organisational risk Mitigation plan
Serious reduction in funding
Risk to ITT of impacting ability to
fund projects and overheads, support
staffing levels and infrastructure;
threat to maintain status as a going
concern		 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

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2024

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.
Safeguarding young people
The Trust runs various projects for
young people – it is essential that they
are protected		 - All staff and project leaders working directly with
young people will complete an enhanced DBS check
- One-on-one working will be avoided but in
exceptional circumstances where this isn’t possible,
activities will take place in a public place or with the
door open
- Staff will follow the trust’s Child Protection and
Safeguarding Policy and respond to disclosures and
concerns as laid out in the policy
- There will be a designated Child Protection Officer
(or Deputy Child Protection Officers in his absence,)
who will respond to any safeguarding concerns. Both
Officers will have completed the relevant
Safeguarding training
- In circumstances where the Officers are unsure of
how to respond to a concern they will seek advice
from the London Safeguarding Children Board
- Safeguarding Lead on Board of Trustees. Regular
Board review process to examine safeguarding
issues including minor ones which did not require
immediate escalation
- All staff adhering to the code of conduct in the
Child Protection and Safeguarding Policy and Safety
Policy
Rise in costs and overheads
Risk of rising costs meaning that
budgets are no longer accurate and
pledged funds do not cover planned
activity		 - Regular review of project budgets vs actual spend
- Monitor changes in cost levels of key expense
areas
- Explore possibility of renegotiating restricted
funding agreements or repurposing funding streams
to core funds, or for uplifts in key areas (higher
proportion of management costs)
- Seek emergency funds if possible
- Maintain a list of 'longer-shot' funders who can be
approached if needed, and past funders who could
be reapproached for short term aid
Loss of key staff Sharing of key knowledge areas amongst core
members of staff; key documentation made available

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Trustees’ annual report

For the year ended 31 March 2024

Short-term inability to carry out key
functions; loss of expertise and
relationships necessary to long-term
maintenance and development of
organisation		 in centralised location; clear and concise instructions
on working practices made available; broadening
range of people involved in key relationships;
regular team check-ins to ensure colleagues are
aware of the status of key projects and initiatives
Loss of equipment
Needed for project delivery		 Maintaining sufficient reserves and insurance cover
to ensure that replacements can quickly be procured
without adversely affecting the work plan.
Loss of reputation
Damage to reputation as a trusted
organisaton known for artistic
excellence could lead to reduced
ability to form new partnerships or
secure earned and donation income		 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
See above		 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 continued to work hard to rebuild momentum following the impact of the pandemic. Total income was £118,366 higher than in 2022-23 (£529,279, compared to £410,913 the previous year) and there was a small decrease in expenditure of £15,379 (£505,910 compared to £521,289 the previous year), due to some delays with project delivery (such as the Emerging Artists pilot), with a surplus for the year of £23,369.

The Trust maintained a healthy level of unrestricted income, up slightly on the previous year by £8,735, at £260,289, compared to £251,554 in 2022-23, of which £86,010 was earned income. Unrestricted expenditure increased by £33,321, at £162,704 compared to £129,383 in 2022-23.

There was a significant increase in restricted income of £109,631, totalling £268,990 in 2023-24, compared to £159,359 in 2022-23, though restricted expenditure decreased by £48,700, from £391,906 in 2022-23 to £343,206 in 2023-24, due to delays in project delivery. Therefore, overall expenditure on charitable activities decreased by £14,917, at £439,930, compared to £454,847 in 2022-23.

After a challenging few years for the Trust, it was pleasing to see income grow so significantly and to achieve a surplus position. 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.

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2024

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 2024-25 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 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:

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The Irene Taylor Trust

Trustees’ annual report

For the year ended 31 March 2024

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 29[th] October 2024 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 2024

It has been a year of consolidation, as we have focused on building and developing our work and keeping our finances steady. At a very challenging time in the criminal justice system and for fundraising, it was encouraging to see our beneficiary reach increase on the previous year and our income grow by 28%. We have also been planning for the future. The Trustees, our Advisory Group of current and former participants and the office team have worked together on our Strategic Plan for the next three years.

Prisons are currently under great strain, operating close to capacity; the situation has inevitably had an impact on our access into prisons to deliver projects and caused some delays. We are very grateful to the committed prison staff who have worked hard to ensure that despite the difficulties they encounter, these projects are still welcomed and valued. Highlights from the year included partnering once again with Kestrel Theatre to write and perform a special Winter Show with men in prison which their families were able to attend, and the start of a new phase of our Lullaby Project partnership with the Royal Philharmonic Orchestra.

In the community, the reach of Making Tracks continued to expand, with our first communitybased project in the North East – a special place for the Trust, due to the Taylor family links with the region. Our Sounding Out participants, all of whom have been in prison, continued to play important roles as Support Musicians on our projects with young people and as ambassadors for the Trust, including performing at a special Justice Service at Southwark Cathedral.

After the financial year-end, two Trustees stood down from the Board: Dr Rosie Reyolds came to the end of her three-year term and due to other time-commitments stepped away; Peter Renshaw (whose deep connection with the Trust goes back to his days with the Guildhall School and introducing then music-student now Artistic Director Sara to the world of prison education) decided he was ready to retire; we would like to thank them both for their very valuable contributions to the Trust.

Looking ahead, we are imminently expecting to welcome four new Board members, excitingly including three former beneficiaries who are moving from the Advisory Group to become Trustees.

At the end of the year we were delighted with our RPS Award - congratulations to Sara, for whom there was a well-deserved individual accolade, and all the team who make our valuable, gamechanging and life changing work happen.

As ever, our heartfelt thanks go to all the funders and individuals who have supported us this year, and of course to all our project participants, musicians, office staff, Advisory Group, Trustees, prison and community partners.

Jane Anderson Chair of Trustees

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The Irene Taylor Trust

Artistic Director’s annual report

For the year ended 31 March 2024

In many ways, optimism gave way to realism this year as we continued to rebuild our programmes post pandemic. We were aware there would be things which would take longer to return, with some even remaining in their lockdown guise, however, there was still hope that we would manage to re-establish our prison programmes to support those who had been lacking a creative outlet for so long. This worked in part, however with a prison service in such flux, the opportunities for project delivery remained challenging as establishments continued to navigate low staffing levels, lack of space and the requirement to support prisoners with the basic elements they need as their move through the system.

We delivered a number of projects in Young Offender Institutions this year, working one to one with the young people to give them the chance to create their own songs from scratch. The young people thrived, as it gave them a chance to focus on what was important to them, and to get feedback on their ideas without feeling any peer pressure. In some cases, we also experimented with a different weeklong model, working with two smaller groups, thereby allowing more people to participate. Being prepared and able to adapt our delivery methods meant things remained fresh and our prison and community partners had more choice when deciding on what would best complement their regime.

We continued with a two-year project in partnership with Drake Music, supporting five Emerging Artists from our Making Tracks and Sounding Out programmes, as well as beginning a new phase of the Lullaby Project, working with dads in prison in partnership with the Royal Philharmonic Orchestra.

In February, we were asked to lead a new project with our long-term partners in Chicago, the outcome of which was a vibrant, musical celebration of eight very different cultures, all of which have a strong presence in the city. This was our first project with the Chicago Refugee Coalition and the populations they support.

As an organisation, we will continue to be imaginative with our programming to ensure a wide range of creative opportunities remain on offer to the groups we work with. It’s important not just stick to what works, however the ‘tried and tested’ ideas are invaluable from which to build new ideas. As ever, our staff team and musicians are the ones who make it happen as they continue to manage the delivery of the projects, sharing their skills and expertise to inspire groups of people who may never have had this kind of experience before. The way our musicians make people feel was summed up perfectly in two different pieces of feedback we received, “absolutely excellent, they were supportive, inclusive, passionate and had a really great dynamic with the group” and, “I feel happy to be alive - I just loved how this makes me feel!!!” A reminder that when times are challenging, music will be there for you.

Sara Lee Artistic Director

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The Irene Taylor Trust

Major Donor list

For the year ended 31 March 2024

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 Charles Hayward Foundation Edward Cadbury Charitable Trust Field Family Trust Fishmongers’ Company’s Charitable Trust Hadrian Trust Harold Hyam Wingate Foundation Heart of Bucks Joe & Rosa Frenkel Charitable Trust Julia and Hans Rausing Trust Lightbulb Trust National Foundation for Youth Music Oakdale Trust Sheldon Trust Sir James Knott Trust Souter Charitable Trust St James Place Foundation

Unrestricted Donations AB Charitable Trust Bromley Trust CHK Foundation Garfield Weston Foundation Hanley Trust Henry Smith Charity John Armitage Foundation Lambert Charitable Trust Logos Trust Wates Foundation

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 2024

PARTICIPANTS
PROGRAMME/ PROJECT DESCRIPTION
Music in Prisons, Musicians in Weekly music sessions with people in 198
Residence prisons
Music in Prisons, intensive projects Collaborative song-writing projects 81
Music in Prisons, HMYOI ‘Mixtape Young prisoners using new ‘Mixtape’ CD 180
Project’ & lyric-writing guidebook series
Lullaby Project, HMP Hewell Partnership project with the RPO helping 8
parents to connect with their children
through song-writing
Ridegway Secure Unit Collaborative song-writing project 21
Sounding Out Training programme for adult former 13
prisoners in London
Making Tracks & progression projects Community programmes for young people 78
experiencing challenging circumstances
Musical Development Grants Fund to support community-based 14
participants development via external
music lessons, purchasing instruments or
musical equipment
International Training Projects Commissions from Chicago Symphony 56
Orchestra to train Civic Fellows and work
with juveniles in detention and bereaved
parents
Emerging Artists Project Artist development project for talented 5
former community-based participants
674

Total

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

Music in Prisons

“The most rewarding thing both mentally and artistically that I have ever done,” Music in Prisons participant

“A big milestone and a push in the journey in a positive, bright future,” Music in Prisons participant “I was in a very low mental state at the beginning of the project and the project rescued me from that and gave me a sense of hope,” Music in Prisons participant

“There was an overwhelming sense of positivity and hope from the group who, in the process, found other interests and made new friends,” Prison Staff feedback

18

The Irene Taylor Trust

Project reports

For the year ended 31 March 2024

“You feel very included and feel welcomed. If you’re struggling the facilitators help you to overcome your fears,” Music in Prisons participant

“Such a positive experience for people in prison. I noticed that the learners grew in confidence over a very short period of time. They supported each other, creating an atmosphere of fun and achievement,” Prison Staff

Sounding Out

“There really are not the words that can help me conclude what the Sounding Out project and ITT have meant to me over the past year. My highlight has been Making Tracks, supporting younger artists to write and create original music, which ended with a very moving performance of all songs on the last day. This gave me a sense of purpose and reward by being a part of something larger than myself,” Sounding Out Trainee

Making Tracks

“The project leaders were helpful, patient, supportive, kind, talented, friendly, created a safe space,” Making Tracks participant

“I noticed I was coming out of my comfort zone and putting myself out there socially and musically,” Making Tracks participant

“I learnt to keep trying new things - even if you're not so good at first, to keep trying,” Making Tracks participant

“I used to have trouble connecting with different people but now I’m glad I can connect and share ideas... I have gained confidence, and also feel more comfortable with the creative process; it’s fine to have a lot of ideas until you find what fits,” Making Tracks participant

Musical Development Grants

“It really helped me to stay on the right track in terms of concentrating on music. It gave me an outlet,” Musical Development Grant recipient

“I've been able to learn more in depth about vocal production and songwriting from my favourite artists… I'll now be able to move forward with more confidence and inspiration to write better music,” Musical Development Grant recipient

“I'd just like to thank ITT for helping me to pursue my ambitions. I received the laptop from the Music Development Grant and it’s working the world of good for me. I'm learning to mix music and how to basically use it as a music tool, which is something I haven't actually done before. It’s been a great help,” Musical Development Grant recipient

19

The Irene Taylor Trust

Project reports

For the year ended 31 March 2024

Lullaby Project

“Thank you for the time and effort you have put into helping us make something special for our children, we all really appreciated it,” Lullaby Project participant

“Thank you so much, not like me to be speechless – you are amazing,” Lullaby Project participant

"I would just like to Thank you and your team as well as the Orchestra. I do believe you will have changed their lives for the better. Reflection on what they are missing will help them stopping making the same mistakes again," Head of Reducing Reoffending, HMP Hewell

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 2024 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) 4 November 2024

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

24

The Irene Taylor Trust

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

For the year ended 31 March 2024

Unrestricted
Note
£
Income from:
2
170,068
3
86,010
4
4,211
260,289
65,980
96,724
5
162,704
(85,390)
12,195
Reconciliation of funds:
98,698
14
110,893
Total funds carried forward
Transfers between funds
Net movement in funds
Total funds brought forward
97,585
6
Charitable activities
Donations
Raising funds
Charitable activities
Total expenditure
Net income / (expenditure)
before transfers
Investments
Total income
Expenditure on:		 Unrestricted
Note
£
Income from:
2
170,068
3
86,010
4
4,211
260,289
65,980
96,724
5
162,704
(85,390)
12,195
Reconciliation of funds:
98,698
14
110,893
Total funds carried forward
Transfers between funds
Net movement in funds
Total funds brought forward
97,585
6
Charitable activities
Donations
Raising funds
Charitable activities
Total expenditure
Net income / (expenditure)
before transfers
Investments
Total income
Expenditure on:		 Restricted
£
43,320
225,670
-		 2024
Total
£
213,388
311,680
4,211		 Unrestricted
£
109,924
140,603
1,027		 2023
Restricted
Total
£
£
12,263
122,187
147,096
287,699
-
1,027
159,359
410,913
-
66,442
391,906
454,847
391,906
521,289
134,777
-
(97,770)
(110,376)
252,391
363,695
154,621
253,319
(110,376)
(232,547)
260,289 268,990 529,279 251,554
65,980
96,724		 -
343,206		 65,980
439,930		 66,442
62,941
162,704 343,206 505,910 129,383
(85,390)
97,585		 85,390
(74,216)		 -
23,369		 (134,777)
122,171
12,195
98,698		 11,174
154,621		 23,369
253,319		 (12,606)
111,304
110,893 165,795 276,688 98,698

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.

25

The Irene Taylor Trust

Balance sheet

Company no. 3637201

As at 31 March 2024

Note
Fixed assets:
10
Current assets:
11
Liabilities:
12
14
Total unrestricted funds
Debtors
Creditors: amounts falling due within one year
Net current assets
Restricted income funds
Unrestricted income funds:
The funds of the charity:
Total net assets
General funds
Total charity funds
Cash at bank and in hand
Tangible assets
Designated		 2024
£
43,571
265,254		 2024
2023
£
£
2,670
2,670
70,788
203,444
274,232
(25,076)
274,018
276,688
165,795
4,100
94,598
110,893
276,688		 2023
£
4,163
4,163
249,156
308,825
(34,807)
4,100
106,793
253,319
154,621
98,698
253,319

Approved by the trustees on 29 October 2024 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 2024

Cash flows from operating activities
Cash at bank and in hand
Total cash and cash equivalents
Cash flows from operating activities
Investment income
Analysis of cash and cash equivalents
Net (expenditure) / income for the reporting period
(as per the statement of financial activities)
(Decrease)/ (Decrease) in creditors
Depreciation charges
Decrease / (Increase) in debtors
Net cash provided by / (used in) operating activities
Cash flows from investing activities:
Interest receivable
Net cash 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		 £
£
23,369
1,493
(4,211)
27,218
9,731
57,599
57,599
4,211
4,211
61,810
203,444
265,254
At 1 April
2023
Cash flows
£
£
203,444
61,810
203,444
61,810
2024		 £
£
23,369
1,493
(4,211)
27,218
9,731
57,599
57,599
4,211
4,211
61,810
203,444
265,254
At 1 April
2023
Cash flows
£
£
203,444
61,810
203,444
61,810
2024		 £
£
(110,376)
1,891
(1,027)
(2,914)
(14,677)
(127,103)
(127,103)
1,027
1,027
(126,077)
329,520
203,444
Other non-
cash
changes
At 31
March
2024
£
£
-
265,254
-
265,254
2023		 £
£
(110,376)
1,891
(1,027)
(2,914)
(14,677)
(127,103)
(127,103)
1,027
1,027
(126,077)
329,520
203,444
Other non-
cash
changes
At 31
March
2024
£
£
-
265,254
-
265,254
2023
4,211 1,027
57,599
4,211		 (127,103)
1,027
At 1 April
2023
£
203,444		 Other non-
cash
changes
£
-
61,810
203,444		 (126,077)
329,520
265,254 203,444

Cash flows
£
61,810
At 31
March
2024
£
265,254
203,444 61,810 - 265,254

27

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2024

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

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.

28

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2024

1 Accounting policies (continued)

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.

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:

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.

29

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2024

1 Accounting policies (continued)

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.

2 Income from donations

Income from donations
Henry Smith Charity
The Bromley Trust
CHK Foundation
29th May 1961 Charitable Trust
The Rowland Trust
BBC Children in Need
AB Charitable Trust
Lambert Charitable Trust
The Hanley Trust
John Armitage Charitable Trust
Garfield Weston Foundation
Postcode Society Trust
The Logos Trust
Wates Foundation
National Foundation for Youth Music
Donations from individuals
Gifts in kind
Gift Aid reclaimed(HMRC)
Other income
Donations from Charitable Trusts:
Total		 Unrestricted
£
30,000
10,000
15,000
-
-
-
15,000
5,001
3,000
25,000
20,000
-
2,000
15,000
10,167
15,718
-
3,828
354		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7,399
35,421
-
500		 2024
Total
£
30,000
10,000
15,000
-
-
-
15,000
5,001
3,000
25,000
20,000
-
2,000
15,000
10,167
23,117
35,421
3,828
854		 Unrestricted
£
30,000
10,000
10,000
5,000
600
500
-
-
3,000
20,000
-
12,000
-
-
-
15,452
-
3,372
-		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12,263
-
-		 2023
Total
£
30,000
10,000
10,000
5,000
600
500
-
-
3,000
20,000
-
12,000
-
-
-
15,452
12,263
3,372
-
170,068 43,320 213,388 109,924 12,263 122,187

30

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2024

3 Income from charitable activities

Income from charitable activities Income from charitable activities
Projects in the community
Hadrian Trust
-
BBC Children in Need
-
Sony Music Entertainment
-
The Princes Trust
-
Heart of Bucks
-
Julia and Hans Rausing Trust
-
Charles Hayward Foundation
-
The Oakdale Trust
-
Young Londoners Fund
-
St Jame's Place Foundation
-
Swire 2765 Charitable Trust
-
Hedley Foundation Ltd
-
Sir James Knott Trust
-
Souter Charitable Trust
-
National Foundation for Youth Music
-
Arts Council England
-
Manchester Guardian Society
-
The Harold Hyam Wingate Foundation
-
The Sheldon Trust
-
Edward Cadbury Charitable Trust
-
Joe & Rosa Frenkel Charitable Trust
-
Fishmongers’ Company’s Charitable Trus
-
The Lightbulb Trust
-
Three Monkies Trust
-
Anonymous Trust
-
Field Family Trust
-
Universal Music
-
D’Oyly Carte Foundation
-
Other
-
Earned income
86,010
86,010
Total		 1,000
-
-
10,000
20,000
25,000
1,000
-
10,000
-
-
8,450
3,000
41,420
25,000
-
5,000
5,000
2,500
3,000
30,000
30,000
-
-
2,000
-
-
3,300
-		 2024
1,000
-
-
10,000
20,000
25,000
1,000
-
10,000
-
-
8,450
3,000
41,420
25,000
-
5,000
5,000
2,500
3,000
30,000
30,000
-
-
2,000
-
-
3,300
86,010		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
140,603		 -
23,441
8,483
1,100
-
-
25,000
-
1,330
10,000
15,000
1,000
-
-
14,928
20,114
2,000
-
-
-
3,000
-
-
5,000
7,500
-
2,700
4,000
2,500
-		 2023
-
23,441
8,483
1,100
-
-
25,000
-
1,330
10,000
15,000
1,000
-
-
14,928
20,114
2,000
-
-
-
3,000
-
-
5,000
7,500
-
2,700
4,000
2,500
140,603
86,010 225,670 311,679 140,603 147,096 287,699

4 Income from investments

Income from investments
Bank interest Unrestricted
£
4,211		 £
-
Restricted		 2024
Total
£
4,211		 Unrestricted
£
1,027		 £
-
Restricted		 2023
Total
£
1,027
4,211 - 4,211 1,027 - 1,027

31

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2024

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
Gifts in kind
Support costs
Governance costs
Total expenditure 2024
Total expenditure 2023		 Raising
funds
£
47,116
-
-
-
-
-
-
-
-
-
Charitable
activities
£
162,074
-
177,545
-
-
-
-
-
-
35,421
Support
costs
£
18,191
4,950
-
11,144
24,549
3,925
8,702
1,493
-
-

Governance
costs
-
-
-
-
-
-
-
-
10,800
-
2024
Total
£
227,381
4,950
177,545
11,144
24,549
3,925
8,702
1,493
10,800
35,421
2023
Total
£
222,149
7,060
220,604
11,075
23,582
4,427
9,778
1,891
8,460
12,263
47,116
16,431
2,432		 375,040
56,523
8,368		 72,954
(72,954)
-		 10,800
-
(10,800)		 505,910
-
-		 521,289
-
-
65,980 439,930 - - 505,910 521,289
66,442 454,847 - - -

Of the total expenditure , £162,704 (2023: £129,383) was unrestricted and £343,206 (2023: £391,906) was restricted.

Analysis of expenditure (prior year)

Staff costs (Note 7)
Other staff costs
Fundraising costs
Project costs
Office running and other costs
Rent, rates and utilities
Repairs and maintenance
Insurance
Professional services
Depreciation
Audit
Gifts in kind
Support costs
Governance costs
Total expenditure 2023		 Raising
funds
£
46,986
-
-
-
-
-
-
-
-
-
-
-
Charitable
activities
£
156,979
-
-
220,604
-
-
-
-
-
-
-
12,263
Support
costs
£
18,184
7,060
-
-
11,075
23,582
-
4,427
9,778
1,891
-
-
Governance
costs
-
-
-
-
-
-
-
-
-
8,460
-
2023
Total
£
222,149
7,060
-
220,604
11,075
23,582
-
4,427
9,778
1,891
8,460
12,263
46,986
17,507
1,949		 389,846
58,490
6,511		 75,997
(75,997)
-		 8,460
-
(8,460)		 521,289
-
-
66,442 454,847 - - 521,289

32

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2024

6 Net income / (expenditure) for the year

This is stated after charging:

This is stated after charging:
2024 2023
£ £
Depreciation 1,493 1,891
Auditor's remuneration (excluding VAT):
Audit 8,300 7,750
Property lease 16,738 22,614

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

Staff costs were as follows:

Pension cost
Salaries and wages
Social security costs		 2024
£
207,040
16,084
4,257		 2023
£
201,206
16,850
4,093
227,381 222,149

No member of staff received emoluments of more than £60,000 in this year (2023: £nil).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £110,934 (2023: £111,174).

The charity trustees were not paid nor received any other benefits from employment with the charity in the year (2023: £nil). No trustee was reimbursed travel expenses during the year(2023: nil trustee £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).

8 Staff numbers

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

2024 2023
No. No.
Total 6 6

9 Taxation

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

33

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2024

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
£
5,081
-

Musical
Instruments
£
18,559
-		 Motor
vehicles
£
15,000
-
Total
£
38,640
-
5,081 18,559 15,000 38,640
4,478
603		 18,559
-		 11,440
890		 34,476
1,493
5,081 18,559 12,330 35,969
- - 2,670 2,670
603 - 3,560 4,163

All of the above assets are used for charitable purposes.

11 Debtors

Deferred income
Rent deposit
Accrued income
Trade payable
Accruals
Prepayments
Taxation and social security
Creditors: amounts falling due within one year		 2024
£
4,677
290
38,604		 2023
£
4,677
-
66,111
43,571 70,788
2024
£
4,925
5,337
12,615
11,930		 2023
£
984
6,475
17,617
-
34,807 25,076

12 Creditors: amounts falling due within one year

12a Deferred income

Deferred income comprises the earned income received in 2023-24 for the activites in 2024/25.

Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2024
£
-
-
11,930		 2023
£
23,877
(23,877)
-
11,930 -

34

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2024

13 Analysis of net assets between funds (current year)

14
At start of
the year
£
Restricted funds:
Adult male prisoners
6,662
Adult female prisoners
-
Children in prison
31,499
Community - Total
83,093
Music Projects – General
33,368
Total restricted funds
154,621
4,100
General funds
94,598
98,698
253,319
Analysis of net assets between funds (prior year)
Tangible fixed assets
Movements in funds (current year)
Net current assets
Net assets
Net current assets
Tangible fixed assets
Unrestricted funds
Total funds
Designated funds - other
Net assets
Total unrestricted funds		 14
At start of
the year
£
Restricted funds:
Adult male prisoners
6,662
Adult female prisoners
-
Children in prison
31,499
Community - Total
83,093
Music Projects – General
33,368
Total restricted funds
154,621
4,100
General funds
94,598
98,698
253,319
Analysis of net assets between funds (prior year)
Tangible fixed assets
Movements in funds (current year)
Net current assets
Net assets
Net current assets
Tangible fixed assets
Unrestricted funds
Total funds
Designated funds - other
Net assets
Total unrestricted funds		 General
unrestricted
£
2,670
104,122
Designated
Funds
-
4,100		 Restricted
£
-
165,795		 Total
funds
£
2,670
274,017
106,793 4,100 165,795 276,688
General
unrestricted
4,163
90,434
Designated
Funds
£
-
4,100		 Restricted
£
-
154,621		 Total
funds
£
4,163
249,155
94,598 4,100 154,621 253,319

Income &
gains
£
27,675
-
-
211,315
30,000
Expenditure
& losses
£
(94,719)
(13,025)
(28,800)
(184,434)
(22,227)		 Transfers
£
71,448
13,025
(2,699)
11,961
(8,345)		 At end of the
year
£
11,065
-
-
121,935
32,795
154,621 268,990 (343,206) 85,390 165,795
4,100
94,598		 -
260,289		 -
(162,704)		 -
(85,390)		 4,100
106,793
98,698 260,289 (162,704) (85,390) 110,893
253,319 529,279 (505,910) - 276,688

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 2024

Movements in funds (prior year)

Restricted funds:
Adult male prisoners
Adult female prisoners
Children in prison
Community - Total
Music Projects – General
Total restricted funds
General funds
Total funds
Total unrestricted funds
Unrestricted funds
Designated funds - other		 At start of
the year
£
44,122
-
26,637
121,175
60,457
Income &
gains
£
4,420
-
23,441
123,998
7,500
Expenditure
& losses
£
(138,704)
(990)
(20,181)
(196,558)
(35,473)		 Transfers
£
96,822
990
1,602
34,478
885		 At end of the
year
£
6,662
-
31,499
83,093
33,368
252,390 159,359 (391,906) 134,777 154,621
4,110
107,195		 -
251,554		 -
(129,383)
(10)
(134,767)		 4,100
94,598
111,305 251,554 (129,383) (134,777) 98,698
363,695 410,913 (521,289) - 253,319

14 Movements in funds

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.

36

The Irene Taylor Trust

Notes to the financial statements

For the year ended 31 March 2024

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 unrestricted 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

Less than one year
2 - 5 Year		 2024
2023
£
£
16,442
16,442
10,021
26,463
Property		 2024
2023
£
£
16,442
16,442
10,021
26,463
Property
26,463 42,905

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 £2,775 (2023: £3,630). There are no other related party transactions to disclose for 2024 (2023: none).

37