THE VERNON ELLIS FOUNDATION
Unaudited Trust Accounts
For the Year Ended 5 April 2024

THE VERNON ELLIS FOUNDATION
Index
Pase
Trustees. Report
Independent Examiner's Report
Balance Sheet
Statement of Financial Activities
Notes to the Financial Statements
6-10
Investment khedule
11-14

THE VERNON ELLIS FOUNDATION
TTU8tees' Report
The tru5tee8 present their aDnual reporl and the Account$ of the durity for theyear ended 5 Apiil 2024.
The Aceounts have been prepared in accordance wlth the accountsng policies set out innote i to the Accounts ctsmply wryth
the charity's trust deed, the Charities Act 2011 and Accountins and Reportinsby Charities: Statement oERecommended Practice
2019 applicable to charities preparing their Aeeounts in accordan￿ with the Finoncial Reporting Standard (FRSI applicable in the
UK and Republic of Ireland publithed 1Th￿t0ber 2019.
Le801 and Admittistrative ltt£orAnation
Settlor
Vernon James Ellis
Trustees
Vernon James Ellis
And￿W David Ellis
KatieLoui8e Cou8itig
Mary Elizabeth Bide
Mark Bide
Rtgi8lered Charity Number
1090013
Re8i8¢ered O£fi¢t
Greengate Farm
Lur8a8hail
Petworth GU28 9ET
Bank¢r8
Coutts & Co
440 Strand
London
WC2ROQS
Solicito
Charles Russell Speed)Jys LLP
5 Fleet P]ace
London
EC4M 7RD
Independeni Examlne
Ms T Mohammed BA,FCA
Couth Bright Kin8 & Co
2 TOll￿rSt Court
]lJrkey Mill Business Park
Aghford Road
Maidslone Kent ME14 5SF
Structure, Governan¢e And MdnAgement
The Vemon Ellis Foundation was created by Deed dated 3 De￿mber 2001 with an initial Settled sum OE £10 tash. Funds have been
added since that datein the Eom) of gifts of Investments l shares in Accenture Ltd and other quoted Companiesl and Gifi Aid and
Charities Aid Foundation donation& The Tw$tees hold the TrostFund upon trust to same {without distinetion betweeneapital and
income), for alid towards seneral charitable putposes.
Appointment of Th￿tee& and ¢harity ors•nifjation
The tharity is managedby the trust￿ who a￿ appointed under the terms OE the trust deed. The powerof appointing new trustees
18 vested in thesettlor during his life and thereafter in Hazel Marilyn Elli& The statutory powers of app)intin8 new tru8tee5
apply thereafter.
The Foundation's administration is undertakenby Kam Wall.
FiThaTh¢Aal r¢vi*w
Incomins resource5 totalled £285,048.8212023 £298,655.65). TheTrust&$ are satisfied with thefinancial position of the Charity and
confirm that they have adequate ossets available to Eu]fil their obligations.

THE VERNON ELLIS FOUNDATION
TTUStees' Report
Objective5 arLd Activities
The Chatlty cmtinues to follow Its poliey of pIedominately 5UPFX)rting arts charitles and, to a lesser extenl educational or
medical tharitles. The Charity is a gthoral charitable trust and ¢¢easitsnally makes grants ofJ general naiure, mainly to other UK
iSte￿a elwities but the Injstees. main (blectives remain to promote the perEormante of tlassieal music for the general
public. to a￿lst in the musical education of the general public and the development ol musicaj tale￿ l and sometimes
individuals training as classical musicians) tsnd. an tsgr￿d shift in emphasis in recent yoars. to make grants forproit*t$ which
make an impact i)n health. edueatim and wellbEing. This is aehievod by making grants to appropriate UK registered classical
music charities and al￿ gometimes to or for the benefit I for wholly eharitable puwses) of individuals.
Adlievements and Performance
During Year￿nder review a total of 27 donation5 werellL4de ianKing from (the smallest) £120 to (the largest sinsie donation)
£IIX>.O(X).The total surn of all donations rnade during theyear was £463%57.501 Erom Unres￿Itttd Funds).
Charity's Ptsblie Benefit
The trnsteeshaveenstsred that all activities throughout thepriod have bcen for the public benefit. This i5
cvidetKed by the donatio￿ made to Charities totalling £463.857.50 P023 £401.4001.
The trustecs conEirni that they have referred to the suidance contsined in the Charity Commission's g￿er81 guidance on
public b￿erit when reviewing the Charity's aims and (bieclive5 ar￿ in activitie&
Keserves Policy and Kisk Management
The irnstees, p)Iicy 15 to maintain enoush reserve5 for cornmitment5 made aj￿ continue 5UPPOrt of a number oEorsanisatLons over
severa] year& The overall investment polLCy IS to achieve a balanced re￿rn of ]r￿Orne and capi￿1 srowth at medium risk
Future Financial Commitment8
The Settlor has made a cornmitment, both duringhis liEe and in respect of his estate after hls deBth to provide a persotvl
guarantee to the trustees to make up any slwrtfall should any fJnan¢ial call in respect OE investments or donatiot
provided for, exceed the value of the Foundation's assets. Currently the total net assets comfortably exceed commitments.
Tru8tees respon8ibAlitie8 in relation lo the A¢counts
The Charity trustees are responsible for preparins a trusiees, annuaj report and Aecounts in accordance with applieable
law and United Kingdom Att0untingStaJ￿ardS l UDJted Kingdom Generally Aeeepted Accounting Praetieel.
The law applicable to d￿ritieS in England and Wa]es requires the trustees to prepare Accounts Eor each year whieh give a
tn* and Eair view of the State OE affairs tsf the Charity and ()f the incott)ing r&wuree% and applicationofres0ur￿S of the
Charity Eor tbAt period. In preparing the Accounts the trustee5 art requI￿d to:
• $electsultable aceoundngpolieies and then applythem consis￿￿￿.
• observe It*methods and PTinciplesinthe applicable CIwTi1ies SORP.
continue in business.
The trustees aro responsible for keeping pIoper accountins ￿rdS that dI￿105e withiewnable atcuracy at any time the
financial w)sition of the Charity and to eTthle thern to ensuie that the AccounLs cornply with tho Charities Aet 2011, the
applicable Charities (Atcounts a[￿ Reports) Resulatiolls and the pravisions of the Ttust Deed. They are also responsible
tor sateguardthg the assets ok the L'hatity and takins reasonable steps br the prevention and deEechon ok Iraud and
otherirregularilie5.
Approved by Vemon James Ellis on
For and on beha]foE the Trustees
2024

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE VERNON
ELLIS FOUNDATION
I report to the trustees on my examination of the Accounts of The Vernon Ellis Foundation for the year ended
5 April 2024 whicli are sel out on pages 4 10 14.
Responsibilities and basis of report
As the dwitys trustees you are responsible for the preparation of the Accounts in accordan￿ with the
requirements of the Charities Act 2011 (' the Act").
I report in respect of my exarnination of the Accounts for the Charity carried out under Section 145 of the 2011
Act. and in carrying out my exarnination I have followed all the applicable Directions given by the Charity
Commission under Section 145(5)(b) of the Act.
Jndependent Examinerfs Statement
Since the Ch￿Ity'S gross income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the Act.
I confirm that l am qualified to undertake the examination because l am a member of the Lnstitute of Chartered
Accountants in England and Wales (ICAEW), which is one of the listed bodies.
E have completed my examination. I confirm that no material matters have come to my attention in connection
with the examination giving me cause to believe that in any material respect:
l) accounting records were not kept in respect of the Charity as required by Section 130 of the Act; or
2) the Accounts do not accord with those records; or
3) the Accounts do not comply with the applicable requirements Con￿rning the form and content of the
Accounts set out in the Charities (Accounts and Reports) Regulations 2(H18 other than any requirement that the
Accounts give a'true and fair view" which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to cnable a proper understandins of the Accounts to be
reached.
Ms T Mo118nimLd BA,F,
Couch Bright King & Co Chartered Accountants
2 Tolherst Court
Turkey Mill Business Park
Ashford Road
Maidstone Kent ME14 5SF
19"Stpk
2024

THE VERNON ELLIS FOUNDATION
Balance Sheet a8 at 5 AprRI 2024
2024
ixed As•ets
Programme related inve8tmeThts
Investments at market value
1,259,961.(X)
1,335,282.(J)
1,259,961.
1235281LMJ
Current A88ets
155,951.98
101373.72
Debtors
2,125.Crf)
158,076.98
101,27922
203,652.94
Credito
Amounts Ealllng due within one year
Neicurrent Assets
io
7,984.73
4661.98
1S0,m25
198,Th).96
Totol A88ets Lo66 Llabilltio8
I,IiO,053,25
1,534,Oll%
Repre8entsd by.
FundA
Unrestricted Ftmd8
Restricted Funds
1.406,941.98
3.111.27
Ik30,961.69
3.111.27
li
Total awity Funds
1,410,053.25
1,534,OT2.96
Daled
2024
Approved by
Vemon James El]is
For and on behalf of the Trustees
VJaL

THE VERNON ELLIS FOUNDATION
Statement of Financial Activities for the year ended 5 April 2024
2024
Re8trleted
2023
Total
Note Unre8tsActed
Futtd
Funds
Total Trund8
Income
tnvestment income
Gifts and donations received
51T74.82
232,274nO
52,774.82
231274.00
I3￿53.90
285,101.69
Total Income
285,048.82
285,048
298.655.65
xpenditure
Govemance Costs
Expendi￿re on Charitable Activities
11.556.
463,857.Y)
I1￿56.90
463,85750
11,784.99
437,633.73
Total Expenditure
475,414.40
475,414.40
449A18.72
Net Expenditure Itncome before Gains and
Losses
Nel Gain81 (Lo88es) on investments
Reali8ed
Rediged
Movement in unrealised CainsllLoK%*S)
Exchange GaAnsl(t(Jsses)
Net Movement in Fund8 in the Year
(190,365.581
I1￿,36538)
(150,763.07)
72,592.48
29,599.5
(35,846.15)
W92.48
136,141.791
(35,846.15)
{14,119.49)
(124019.71)
I124￿19.71
120L024J51
At 5 ApTiI 2023
Net movement of resources in the year
1,530,961.69
(124,019.71)
3,11127
1.534,072.96
(124,019.71)
1,735,097.31
{201,024.35)
At5 April 2024
1,406,941.98
3,111.27
1,410X)53.25
1,534,072.96

THE VERNON ELLIS FOUNDATION
Notes to the Accounts for the Year ended 5 April 2024
I Princip*l Aec¢)untin8 Polleie$
These Accounts have been prepared in accordance with the particular accounting policies
described below,
la) General Information and Basi8 of Aeeounting
The Veznon Ellis Foundation is a general charitable trust with the objective of promoting the
performance OE elassical musie for the general public. In the event tsE the Foundation being wound
up, the Settlor has made a commitment to provAde a personal guarantee to the trustees to make up
any shortfall. The address OE the registeTed Ofli￿ is given in the Foundation information on page
l of those financial slatoments.
The Accounts have been prepared in accordance with Accounting and Reporting by Charities:
Ststement of Recomniended PLaLtiLL appIiLiible to Charities preparing their Accounts in accordance
with the Financial Reporting Standard applicable in the UK and the Republic of Ireland issued in
October 2019. the Financial Reporting Standard app]icable in tTrLe United Kingdom and Republic of
IreEand (PRS102). the Charitie5 Act 2011 and UK Generally Accepted Accounting Practice.
The Acr.nuntrg havp alAn hppn prepared under the historical cost convention oxcopt for invcjtmentg
which have been included at market value.
The Charity constitutes a public benefit entity as defined by FRS102. The trustees consider there are
no material U[￿rtaintIes about the Charity'5 ability to continue as a going coneern.
The Accouiits VLeseiilgLI iii Si¥rling whlch ly the functlonal currency of the Charity-
Ib} Inve8tsnertt8 and Invegtment Income
Quoted p￿ed investments are stated at mid-market value at the Balance Sheet date. Investment
income is credited to the Unresiricied Fund when reeeivable. Chan8es in the market value OF
the investments held durins the period are reco8nised in net gain￿<1088e8I on investments in the
Statement of Flnancial Aciivities .
Donated investments are ree(>rded at the valuation al the time OE the donation.
lel Forei8ft Cullencies
Assets and liabilities in other curreneies at the Balance Sheet date are translated into sterling at
the rate ruling on that datE. Transactions during the year have been translated into sterling at
the rate ruling on the date of the tra[￿aCtion. ExLliaiige differencey arising during the year are
dealt with in the Unrestricted Fund via the Ststement of Financial Activitie5.
(d) Incoming Fund8
Donation5 received Erom Vernon Ellis are credited to the Unrestricted Fund when re￿Ived.
Other donation5 are credited to the relevant Fund when received. Investment incorne, together
th any a&%)cialed tax repaymeiil is Lrediivd tu the relLsvant Fund when receivable.
lel Charitable Activities
Charitable donations are recognised as resour￿8 expended as soon as there is a legal or
constructive obligation committing the charity to the expenditure.
IE) Covernance C08ts
Covernance costs comprise all costs involving the public accountability of the Foundation
and its compliance with regulations and 8IMTrd practice and are irLclusive OE Irrecoverable
VAT.The8e costs also include cost5 related to the Independent Examiner'5 fees.

THE VERNON ELLIS FOUNDATION
Notes to the Flnancial Statements for the Year ended 5 April 2024
Isl Pmgratnme related investments
Programme retated Investments are held at cost, less repayments of the loan eotnmitment and any
provision fjoi dilniiiulioti ii) vdliiv. A fair valiie Isnot obtalned for these inve8tments as, In the view
of theTrustees, the ctsst of valuing these assets would be onerous compared with the additional
benePit of such a valuation to users of the Accounts.
(h) Re8tri(ted Funds
Donations received for a specifie purpose are separately identified within notes 4 and 10 to enyure
that they are spetLt a5 the donor intended.
li)Debtors and creditors Ieceivablelpayable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losseb arising from impairTnent are recognised in expenditure.
Jnformation regarding Trustees
None of the tru3tec8 received remuiiei'alioii vi exy¥iwy Liurlli¥ Ili¥ yedr.
3. Investment and Other Incorne
2024
2023
Income from UK Li8ted and other securities
Jnterest r￿1ved- Loult5
52,536.08
238.74
52,774,82
13,161.92
392.04
13,553.96
4. Gift8 and donations recelved
Unre8tsicled Fund8
2024
2023
Vernon Ellis-eash { lo include gift aid)
Vernon Eilis-stock exchanse inveskments
12,500.(K)
219,774.00
231274.(K)
254,601.69
254,601.69
Gifts and donations received Erom TrusteeB are without conditions.
Re8tsietedFunds
2024
2023
New Philanthropy for the Arts INPAQ
Responsible Induence in Art5 and Culturo IRIACI
2J)O.(K)
26,000.(K)
30,500.(K)
Vernon Ellis is thairin8 a project"New Philanthropy for the Art<,. Thwe are now 20 members of the group overseeing
l]￿ yrujvLt.This wurk Ig parl of the Beacon Collaborative whose aim 15 to expand philanthropy.
Two consultants are dt)ing work Eor this group. Their costs are being partly covered by the Arts Counci] who axe
payins their fees throush the Beacon Collaborativo.
Each meml*r of the group donated £1,200 plu5 sift aid into this restricted futid which was used to pay foi a matching
contribution to fund these 8upport C05t5. (See also note 11.)
NPAC has a next seneration initiative to establish a separate Charity for Responsible Induence in Arts and Culture.
(s￿ also note 11).
5. Donations to Charitable Insti￿tiOnS
From Unre8trActed Funds
2024
2023
Charitable Donation8
463,857.50
401.400.(M)

THE VERNON ELLIS FOUNDATION
Notes to the FinanciaI Statements for the Year ended 5 April 2024
S. Donation8 to Char£table Insti￿tiOnS
From Re8trieted Funa8
2024
2023
NPAC I s&note 111
RtAC I see note 111
8,233.73
28.(X)O.(M)
36,233.73
Governance Costs
2024
2023
tndeFndent Exarniner's E
Coutt5 fee5
Trust administration fees
Coutb Bank charges
3,588.00
1964.72
4,195.00
809.18
11,556.90
3,420.00
3.866.86
3,845.00
653.13
11,784.99
7. Prosrall￿e Relaled Investment8
2024
2023
Balance brought forward
Adjii$Fmpnt fnr liqiiidalion
{29,59).￿)
{29,599.54)
29,599.54
Realised sain l{108sI
Balance
The Foundatlon has provided funding to the Bridges Lommunity L)evelopment Venture fr'und Ikbridges LL)V bund)
and received repayments of the loan committnent.
Thi5 Venture Fund makes investments in busin￿e8 with one or two Criteri￿ the first of which is that the business
is located in a deprived area OE the UK and make5 a beneficial impact on that local area through the use of employee5
Emm that area, or through a core target ￿arket in that area or to disadvantagod people, or at least 50% of the noTh-
salary expenditure of such business 8ge8 to businesses in Such area5.
The second criteria is that the business 15 located elRg.whg.rp. in thp. IJK biit hrin8S Strms Annal benefit5 in one of
several ways including creating cornmunity development or economic re8eneratLOTh the relief OE poverty, the
protection ok the environment, educatio￿ the pro]notion oEhealth the provision of economic opportunlty for
disabled people and ethnic mlnority or otherwise excluded communities, or the provision of care to disabled or
otherwise disadvantaged or excluded communitie&
Tlw Fuuiidation made a cummitment of £1 mllllon to the Bridge5 CDV Fund of which O.(X)IV.
(£IO} was a capital comrnitment and the remainder was in the forni of interest free loans which were
drawn down by the Partnership, up to the commitment lirnit of £lmillion.
The Bi'id8es CDV Funa l￿Illin&lted on the cli)sing date of 4 June 2017 and the process of Ilquldadng
Fhtr rpmAinins asqpts is ongoin8.Thc remain1n￿ balance has been reducod to nil ￿ r￿￿et this and
pending receipt of fvrther and final distributiorL8 which may I￿ tnade.
The Trustees received £67J69.28 Lm 16 June 2023 from the continuin8 liquidation of the Bridges Community
Developrnent Venture (CDVI Fund.
8. tnYe8tments listed on a reco￿ls¢d Stock Exchange
2024
2023
Market Value brought forward
Additions
1,335,282.00
489,540.97
1,824822.97
{601,608.30}
71592.48
(35,846.15)
1,259,961.
IA25,653.00
66£682.94
10g)J35.94
1704792.661
(36,141.79)
{14119.49}
1,335,282.
Disposal Ptt￿eed$
Realised GainllLo55)
Unrealised Gain/lkn)ss)
Marketvalue carried forward

THE VERNON ELLIS FOUNDATION
Notes to the Financial Ststemenls for the Year ended 5 AprlI 2024
Continued
Cash
2024
2023
Coutts & Co Current account
Coutts & Co Capital account
Coutts & Co liicome aLfOUtIL
137,307.n
18,644.26
9),034.40
3J39.32
155,951.98
102,373.72
9. Debtor8
2024
Live Music Now-loan
Grange Festival
HMRC GiftAid
Dividend
ioo,o(x).00
1,140.00
2.125.(KJ
139.22
101.279.22
2.125.(X)
The loan to tive Music Now Limited (English & Welsh Charity Numbet 273596) wa5 recoverable after more than
one year. On 29January 2U24 Ihe'Jrustee5 reBolved to waive the repayment of the loan and to convert that loan to a
donation lo the Charity.
10. Creditor8
Amounts fallins due wlthln one year
Coutts Batth char8e5
HMRC CiEt nid ovcrpayment
Independent Examiner's fees
Trust administration fees
2024
2023
201.73
171.98
J7Jr.00
3.420.00
895.00
4,861.98
3588.00
4,195.00
7,984.73
As at 5 April 2024 there were no funding or capital commitrnents contingent Ilabilltles or other
financial commitments for whith full provision has not been made in these financial statements.
11.Re8trlcled Funds
21J24
2U23
NPAC
AC
Total
Total
Balan￿ brought forward as at 6 April 2023
3,111.27
3,111.27
8￿45.(X)
Incotne re￿Ived in the year
30￿0.[K)
39,345.(K)
3,11127
3,111.27
Expenses paid in the year {Note 121
Funds traTh%Eerred in the year
11,118.43
36,233.73
3,11127
3,111.27
Balance carried forward as at 5 April 2(r24
3,11127
3,111.27
3,111.27
12. Restiicted Fund8
2024
2023
RIAC UK
Expenks
22,28157
Expenses
33.73

THE VERNON ELLIS FOUNDATION
Notes to the Financial Statements for the Year ended 5 April 2024
12. Regtricted Fund8 (continued)
Restricted ￿ndS are establishod so thllt don8tions for specivic purposes c￿7 be rin8-leiiLed Lo safe¥uard th
wishes of the donor. These funds are expended for music purposes either to support the professional develnpment of
young rnusicians or for the performance 0£ classical music to public audientts.
Vetnon Ellls 18 chairing d projecl"New PhilanlhTOPy for the Arts" (NPAC). There are now 20 rnembers ofthe group
overseeing the prtiiect.This work is part of the Beacon Collaborative whose aim is to expand philanthropy.
Two consultants are doing work for this group. Their costs are being partly covered by the Arts Council who are
paying their fees through the Beacon CollaboratLVe.
Each member of the group has donated £1,200 plus gift aid into this restricted Eund whith is used to pay for a matching
Contribution to fund these support costs.
NPACS next generation initiative is Responsible Influence in Arts and Culture ( IUACI which has been established as a
separate Charity { a CIO) and prior to that event the Foundation providd Eunds to support the initiative.
The balance of these Fw￿8 is included within the Balance Sheet Net A&8ets as cash.
13. Related party transactions
Donations oE£232274 were received fTOrn the Trustees without eonditions.
TIW LI￿ritY duL% not have a relatlonship with any other charity or organisatiorLS.
None of the TTUStees received any rcmuneration or Teimbursed exyeTL*I as Tru.$trp.p. diJrin8 thp pprind.
Sir Vernon Ellis is a trustee of Live Music Now ( appointed in October 2018) where a donation wa5 rnade
in the year of £11,552 and also a loan OE £IOO,(MJ) was walved and converted to a donation making the total donation
in the year £11155212023 £1,700).
He ceased to be co-chair of Britten Pears Arts on 10 D￿mber 2021 and resigned as a trustee on 31 March 2023.
MarkBide is a trustee of Evolve mU￿C l oppointed 19 Novomber 20201 where a d￿latIon was I￿ade iii llie yedt vl £iul
12023 £15,000).
io

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