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||Page|
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|Reference and Administrative
Information||
|Trustees'
Annual Rcport|2 —4|
|Report ofthe Independent
Examiner||
|Statement ofFinancial Activities||
|Balance Sheet||
|Notes to the Financial Statements|8-14|
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|TATEMENT OF FINANCIAL ACT|IVITES FOR|THE YEAR EN|DED 31DE|CEMBER 2020||
|---|---|---|---|---|---|
|||||31-Dec-20|31-Dec-19|
|||||Total|Total|
|||Expendable||Unrestricted|Unrestricted|
||NOTE|Endowment|Income|Funds|Funds|
|||E||||
|INCOME||||||
|Income|||26,961|26,961|33,146|
|TOTAL INCOME|||26,961|26,961|33,146|
|EXPENDITURE||||||
|Cost of Generating
Funds||12,139||12,139|15,608|
|Charitable
activities||4,748|65,444|70,192|170,363|
|TOTAL EXPENDITURE||16,887|65,444|82,331|185,971|
|GAINS/(LOSSES) ON ASSETS||||||
|Realised and unrealised||(22,803)||(22,803)|87,357|
|(Losses)/Gains
on investments||||||
|Losses on tangible assets|10|(36,521)||(36,521)|(39,217)|
|NET EXPENDITURE||(76,211)|(38,483)|(114,694)|(104,685)|
|Gross transfers||(38,483)|38,483|||
|OTHER RECOGNISED GAINS AND LOSSES||||||
|Gains on foreign exchange|||||35|
|NET MOVEMENT IN FUNDS||(114,694)||(114,694)|(104,650)|
|RECONCILIATION
OF FUNDS||||||
|Total funds brought
forward||1,981,334||1,981,334|2,085,984|
|BALANCE CARRIED FORWARD||1,866,640||1,866,640|1,981,334|
##
|ALANCE SHEET|AS AT 31 DECEMBER 2020||||
|---|---|---|---|---|
||||31-Dec-20|31-Dec-19|
||||Unrestricted|Unrestricted|
|||NO'I 'E|Funds|Funds|
||||E||
|FIXEDASSETS|||||
|Investments|||781,821|924,785|
|CURRENT ASSETS|||||
|Tangible Asset (held for sale)||10|1,098,982|1,135,503|
|Cash at Bank|||19,297|50,034|
||||1,118,279|1,185,537|
|LIABILITIES|||||
|Creditors: amounts|falling due within one year||(33,460)|(98,988)|
|NET CURRENT ASSETS|||1,084,819|'1,086,549|
|Creditors amounts|falling due after one year|||(30,000)|
|TOTAL ASSETSLESS LIABILITIES|||1,866,640|1,981,334|
|Representing:|||||
|UNRESTRICTED|FUNDS||||
|Expendable
Endowment|||1,866,640|1,981,334|
|Income|||||
||||1,866,640|1,981,334|
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|INCOME|||||||
|---|---|---|---|---|---|---|
|||Unrestricted||Unrestricted|31-Dec-20|31-Dec-19|
|||Expendable||Income|Total|'I'otal|
|||Endowment|||Unrestricted|Unrestricted|
||||f.|||f.|
|income|from Investments|||26,944|26,944|33,087|
|Interest|on cash deposits|||17|17|59|
|||||26,961|26,961|33,146|
##
|OST OF G|ENERATING|FUNDS||||
|---|---|---|---|---|---|
|||||31-Dec-20|31-Dec-19|
||||||6|
|Investment|Advisor|||9,690|12,000|
|Custody, Administration||Fees and Transaction|Fees|2,449|3,608|
|||||12,139|15,608|
##
|s charitable
activities as f|ollows:—||
|---|---|---|
|||s|
|The Royal College ofMusic||42,680|
|Philharmonia
Orchestra||10,000|
|Help Musician
UK||5,000|
|Young Classical Artist Trust||5,000|
|Total||62,680|
|Support and Governance|costs (Seenote 7)|7,512|
|||70,192|
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|||||||2020|2019|2020|2019|
|---|---|---|---|---|---|---|---|---|---|
|||||||No.|Ko.||E|
|The|advancement|of|the|arts,|culture,|3|2|20,000|80,000|
|heritage or science||||||||||
|The|advancement|of education||||I|2|42,680|84,492|
|||||||4|4|62,680|164,492|
##
|||||Unrestricted||31-Dec-20|31-Dec-19|
|---|---|---|---|---|---|---|---|
|||||Expendable|Unrestricted|Total|Total|
|||||Endowment|Income|Unrestricted|Unrestricted|
|||||6||E|E|
|Independent|Examiner's||Fee|2,500||2,500|2,500|
|current year||||||||
|—prior year (over)/under|||accrual)|(40)||(40)|660|
|Legal and Professional||Fees||1,883||1.883|2,422|
|Bank Charges||||405||405|289|
|Cello Expenses|||||2,764|2,764||
|To Charitable|Activities|||(4,748)|(2,764)|(7,512)|(5,871)|
##
##
##
|Movement
i|n fix|ed asset inve|stments|||||
|---|---|---|---|---|---|---|---|
|||Unquoted|Investments|Quoted Investments||Total|Total|
|||31-Dec-20|31-Dec-19|31-Dec-20|31-Dec-19|31-Dec-20|31-Dec-19|
|||||E||6||
|Market Value||6,924|13,010|917,861|873,317|924,785|886,327|
|brought||||||||
|forward||||||||
|Acquisitions|at||4,352||90,000||94,352|
|cost||||||||
|Less disposal||(2696)|(9 675)|(117,465)|(133,576)|(120,161)|(143,251)|
|proceeds||||||||
|||4,228|7,687|800,396|829,741|804,624|837,428|
|Realised||(240)|(652)|(1,345)|5,716|(1,585)|5,064|
|(Losses) (Gains||||||||
|on disposal||||||||
|Net(Loss)/Gain||(1,273)|(111)|(19,945)|82,404|(21,218)|82,293|
|on revaluation||||||||
|Market Value at||2,715|6,924|779,106|917,861|781,821|924,785|
|31December||||||||
|Historical
Cost at||5,193|7,096|647,061|739,351|652,254|746,447|
|31December||||||||
|||Unquoted|Investments|Quoted Investments||Total|Total|
|||31-Dec-20|31-Dec-19|31-Dec-20|31-Dec-19|31-Dec-20|31-Dec-19|
||||6|||6||
|Geographical||||||||
|Analysis||||||||
|United||408|3,992|762,628|890,433|763,036|894,425|
|Kingdom||||||||
|Investments||||||||
|Overseas||2,307|2,932|16,478|27,428|18,785|30,360|
|investments||||||||
|Market Value at||2,715|6,924|779,106|917,861|781,821|924,785|
|31December||||||||
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|The following
investments
comprise
in excess of5%|The following
investments
comprise
in excess of5%|The following
investments
comprise
in excess of5%|The following
investments
comprise
in excess of5%|ofthe value ofthe portfolio:|ofthe value ofthe portfolio:||
|---|---|---|---|---|---|---|
|Name|||||Holding|Value|
|Rathbone
Ethical Bond Fund|||||84,663|90,547|
|BNY Mellon Global Income Fund|||||34,942|63,057|
|Sarasin Investment
Funds international|||Equity income||34,168|61,192|
|Mayfair Capital Investment
MGM||Ltd|||74,534|61,118|
|The Charities Property Fund|||||49,078|60,857|
|Artemis Fund Manager Income|Institutional||||26,092|59,560|
|Link Fund Solutions Ltd Trojan|Income||||32,245|58,004|
|TBailey Fund Services Ltd Evenlodge|||||45,016|55,577|
|M&G Investment
Management|Ltd Charifund||||4,034|55,346|
|Baillie Gifford &CoCorporate Bond|||||56,765|53,274|
|Idermes Investment
Management||Global|Emerging|Market|28,248|49,560|
|Maitland
Emerging Market|||||28,958|40,979|
|TANGIBLE ASSET|||||||
||||||31-Dec-20|31-Dec-19|
||||||Total|Total|
||||||6||
|Cost or value at 1January|||||1,135,503|1,174,720|
|Losses on Foreign Exchange|||||(36,521|(39,217)|
|Value at 31December|||||1,098,982|1,135,503|
##
##
|CREDITORS||||
|---|---|---|---|
||Unrestricted||31-Dec-20|
||Fxpendable|Unrestricted|Total|
||Endowment|Income|Unrestricted|
||6||8|
|Accruals|3,460||3,460|
|Donations||30,000|30,000|
||3,460|30,000|33,460|
||Unrestricted||31-Dec-19|
||Expendable|Unrestricted|Total|
||Endowment|Income|Unrestricted|
||||6|
|Accruals|6,742||6,742|
|Donations||122,246|122,246|
||6,742|122,246|128,988|
##
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|||Unrestricted||31-Dec-20|
|---|---|---|---|---|
|||Expendable|Unrestricted|Total|
|||Endowment|Income|Unrestricted|
|||6|||
|Investments||781,821||781,821|
|'I'angible|I'ixed Assets|1,098,982||1,098,982|
|Cash at Bank||11,790|7,507|19,297|
|Creditors||(25,953)|(7,507)|(33,460)|
|||1,866,640||1,866,640|
|||Unrestricted||31-Dec-19|
|||t.xpendable|Unrestricted|Total|
|||Endowment|Income|Unrestricted|
|||8|||
|Investments||924,785||924,785|
|Tangible|Fixed Assets|1,135,503||1,135,503|
|Cash at Bank||37,302|12,732|50,034|
|Creditors||(116,256)|(12,732)|(128,988)|
|||1,981,334||1,981,334|