2023-09-30-accounts - The Queille Trust

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THE QUEILLE TRUST

ACCOUNTS FOR THE YEAR ENDED

30 SEPTEMBER 2023

22 Crooms Hill, Greenwich, London, SE10 8ER

Independent examiner’s report on the accounts

Report to the trustees of THE QUEILLE TRUST

On accounts for the 30 September 2023 year ended Set out on pages 4 to 13

Charity no 1103176

Respective The charity’s trustees are responsible for the preparation responsibilities of of the accounts. The charity’s trustees consider that an trustees and examiner audit is not required for this year under section 144 of the Charities Act 2011(the Charities Act) and that an independent examination is needed. It is my responsibility to:

Examine the accounts under section 145 of the Charities Act;
To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145 (5) (b) of the Charities Act; and
To state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner’s In connection with my examination, no matter has come to statement my attention

1) Which gives me reasonable cause to believe that, in any material respect, the requirements:
To keep accounting records in accordance with section 130 of the Charities Act; and
To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

Signed: Name: Relevant professional qualification(s) or body: Address:	2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Date: 20 June 2024	2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Date: 20 June 2024
		20 June 2024

	E J Williams

	BSc FCA

	55 Glenesk Road, London, SE9 1AH

THE QUEILLE TRUST

CHARITY REGISTRATION NUMBER 1103176 REPORT AND ACCOUNTS, YEAR ENDED 30 SEPTEMBER 2023

Trustees: Jonathan Byers Charles Goldsmith Nick Kaufmann Ben Lethbridge Josephine Lethbridge Max Lethbridge Rachel Lethbridge Michael Perry Henry Russell

Report for the year

The Queille Trust, registered number 1103176, is a UK Charity. It is constituted by a Declaration of Trust dated 5 January 2004. The Trust’s registered address is 22 Crooms Hill, London, SE10 8ER. This is the Trust’s eighteenth report and covers the period from 1 October 2022 to 30 September 2023.

The Queille Trust is a private trust whose objects are to benefit, either by means of monetary grants or otherwise, persons who are in necessitous circumstances; persons who, through their economic, social or other circumstances, lack access to facilities for education and to advance the education of the public in the performing arts particularly by organising, maintaining and otherwise supporting the Queille Festival. In practice, a large part of the Trust’s activity is its involvement with the Queille Festival, a biennial festival of music and drama held at the Château de Queille in southwest France. In doing so it supports young and emerging performing artists and creates an audience for them, which it is hoped will generate recognition and commissions for them. In addition the Trust has given grants to various performing arts schools and ensembles. The Trustees are also prepared to consider making grants or otherwise supporting individuals or entities engaged in other areas of activity. Grants are made on an ad-hoc basis to particularly deserving young artists and musicians who have come to the attention of the trustees.

In the year under review, no grants were made (2022: £nil).

The Trustees have paid due regard to the guidance on public benefit published by the Charity Commission and are satisfied that the activities of the Trust are compliant in this regard.

The Queille Trust raises its funding from donations made to the Trust and from donations made in connection with the sale of tickets to the Queille Festival or other events. In addition the Trust has been gifted stock in various publicly listed companies. The donors

involved asked that these major gifts be treated as an Expendable Capital Endowment; accordingly, the Trustees have the power to convert the Endowment into income at their discretion. All other funds of the Trust are held in an Unrestricted Fund. During the year, £18,758 (2022: £nil) of the Trust’s Expendable Capital Endowment was converted into income.

The latest Queille Festival was held in May 2023 and was widely recognised as being a cultural and artistic success. Details of the festival may be seen at the website which was developed with the support of the Trust.

These festivals operate at a deficit because the intimate size of the venue limits the number of tickets that can be sold, and in addition the trustees have kept ticket prices relatively low in order to make the event more accessible and to promote the attendance of younger people who can enjoy exceptional contact with artists.

We have therefore continued to arrange various fundraising events and have launched an appeal for support in the form of donations or event sponsorship. These events have been successful, and we express our grateful thanks to those who have already donated, especially those who have done so under gift aid, which has allowed us to make a claim for a tax refund.

The Trustees believe that they have continued to comply with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.

The Trustees are regularly monitoring any significant risks which might affect the operation of the Trust. The most significant risk is financial risk whereby commitments are made which cannot be covered by the charity’s income from donations and ticket sales. The trustees seek to mitigate this risk by raising income well in advance of events taking place.

The Trust’s bankers are HSBC and Caisse d’Epargne.

Rachel Lethbridge

Trustee

For and on behalf of the Trustees 20 June 2024

22 Crooms Hill Greenwich London SE10 8ER

THE QUEILLE TRUST CHARITY NUMBER 1103176

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023

	Note	Unrestricted	Endowment	Total 2023	Total 2022
		funds	funds	£	£
		£	£
Income and endowments	3
Voluntary income		1,451		1,451	1,500
Activities for generating		57,195		57,195	120
funds
Investment income		-		-	-
Total income		58,646		58,646	1,620
Expenditure	4
Fundraising trading costs		47,534		47,534	51
Charitable activities		27,949		27,949	2,810
Governance costs		1,314		1,314	420
Other resources expended		607		607	157
Total expenditure		77,404		77,404	3,438
Net incoming/(outgoing)		(18,758)		(18,758)	(1,818)
resources before transfers
Gross transfers between	10	18,758	(18,758)	-
funds
Net incoming/(outgoing)		-	(18,758)		(1,818)
resources before other
recognised gains/(losses)
Other recognised
(losses)/gains
Gains and (losses) on		(586)	-	(586)	49
exchange
Net movement in funds		(586)	(18,758)	(19,344)	(1,769)
Reconciliation of Funds:
Total funds brought		14,845	37,902	52,747	54,516
forward
Total funds carried		14,259	19,144	33,403	52,747
forward

THE QUEILLE TRUST CHARITY NUMBER 1103176

BALANCE SHEET AS AT

30 SEPTEMBER 2023

Note Fixed assets Tangible assets 7 Investments 8 Total fixed assets Current assets Debtors 9 Cash at bank and in hand Total current assets Creditors: Amounts falling due within one year 10 Net current assets Net assets Funds of the charity Unrestricted funds Endowment funds 11 Total charity funds	Unrestricted funds £ Endowment funds £ Total 2023 £ Total 2022 £ 3,815 20,477 24,292 26,202 - - - -
	3,815 20,477 24,292 26,202
	- - - 12,011 - 12,011 27,343
	12,011 - 12,011 27,343
	(1,567) (1,333) (2,900) (798)
	10,444 (1,333) 9,111 26,545

	14,259 19,144 33,403 52,747
	14,259 - 14,259 14,845 - 19,144 19,144 37,902
	14,259 19,144 33,403 52,747

Approved by the trustees on 20 June, 2024 and signed on their behalf by:

M Perry

R Lethbridge

THE QUEILLE TRUST CHARITY NUMBER 1103176

STATEMENT OF CASH FLOWS FOR THE YEAR ENDING

30 SEPTEMBER 2023

	Total 2023	Total 2022
	£	£
Net cash used in operating activities:
Surplus/(deficit) for year	(18,758)	(1,818)
Depreciation	1,910	1,910
(Increase)/decrease in debtors	-	4,219
(Decrease)/increase in creditors	2,102	(60)
	(14,746)	4,251
Cash flows from investing activities:
Purchase of tangible fixed assets
Gains (losses) on exchange	(586)	49
Change in cash and cash equivalents	(15,332)	4,300
in year
Cash and cash equivalents brought	27,343	23,043
forward
Cash and cash equivalents carried	12,011	27,343
forward

THE QUEILLE TRUST CHARITY NUMBER 1103176

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

Note 1 Basis of preparation Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS102) and the Charities Acts 2011 and 2016. No adjustments were required as a result of the adoption of FRS 102.

Note 2 Accounting policies

Incoming Resources

Recognition of These are included in the Statement of Financial Activities incoming resources (SoFA) when:

The charity becomes entitled to the resources;
The trustees are virtually certain they will receive the resources; and
The monetary value can be measured with sufficient reliably.

Incoming resources When incoming resources have related expenditure (as with with related fundraising or contract income) the incoming resources and expenditure related expenditure are reported gross in the SoFA.

Grants and donations Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.

Tax reclaims on Incoming resources from tax reclaims are included in the SoFA donations and gifts in the year they are received from HMRC.

Contractual income This is only included in the SoFA once the related goods or and performance services have been delivered. related grants

Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.

THE QUEILLE TRUST CHARITY NUMBER 1103176

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 (Continued)

Note 2 Accounting policies (continued)

Donated services	These are only included in incoming resources (with an
and facilities	equivalent amount in resources expended) where the benefit to
	the charity is reasonably quantifiable, measurable and material.
	The value placed on these resources is the estimated value to
	the charity of the service or facility received.
Volunteer help	The value of any voluntary help received is not included in the
	accounts but is described in the trustees’ annual report.
Investment income	This is included in the accounts when receivable.
Investment gains	This includes any gain or loss on the sale of investments and any
and losses	gain or loss resulting from revaluing investments to market value
	at the end of the year.
Foreign exchange	Income and expenditure and bank balances in euro have been
	translated at the average rate and year-end rate of 1.17 and 1.15
	respectively, and the resulting loss on exchange (£586) written
	off.
Expenditure and
Liabilities
Liability recognition	Liabilities are recognised as soon as there is a legal or
	constructive obligation committing the charity to pay out
	resources.
Governance costs	Include costs of the preparation and examination of statutory
	accounts, the costs of trustee meetings and cost of any legal
	advice to trustees on governance or constitutional matters.
Grants with	Where the charity gives a grant with conditions for its payment
performance	being a specific level of service or output to be provided, such
conditions	grants are only recognised in the SoFA once the recipient of the
	grant has provided the specified service or output.
Grants payable	These are only recognised in the accounts when a commitment
without performance	has been made and there are no conditions to be met relating to
conditions	the grant which remain in the control of the charity.

THE QUEILLE TRUST - CHARITY NUMBER 1103176 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 (Continued)

Note 2 Accounting policies (continued) Assets

Tangible fixed assets for use by charity

Investments

Stocks and work in progress

These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt. However, the Steinway piano is stated at market value as valued by an external dealer.

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees’ best estimate of market value. Festival expenses are written off as incurred.

Note 3 Analysis of incoming resources

This year £ Last year £ 1,451 1,500 57,195 120 58,646 1,620 This year £ Last year £ 9,932 - 21,942 - 15,660 51	This year £ Last year £ 1,451 1,500 57,195 120 58,646 1,620 This year £ Last year £ 9,932 - 21,942 - 15,660 51	This year £ Last year £ 1,451 1,500 57,195 120 58,646 1,620 This year £ Last year £ 9,932 - 21,942 - 15,660 51	This year £ Last year £ 1,451 1,500 57,195 120 58,646 1,620 This year £ Last year £ 9,932 - 21,942 - 15,660 51
47,534		51
26,039 - 1,910		900 - 1,910
27,949		2,810
414 900			- 420
1,314			420
	216		157
	391		-
	607		157
77,404		3,438

THE QUEILLE TRUST-CHARITY NUMBER 1103176 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 (Continued)

Note 5	Details of certain items of expenditure
5.1	Trustee expenses
		This year	Last year
Number of trustees who were paid expenses		0	0
Total amount paid		£0	£0
5.2	Fees for examination or audit of the accounts
		This year	Last year
		£	£
Independent examiner’s fees for reporting on the		900	420
accounts
Other fees paid to the independent examiner		None	None

Note 6 Paid employees

There were no paid employees in the year.

Note 7 Tangible fixed assets

7.1 Cost or valuation

Medieval tents Steinway Piano Machinery Balance brought forward 3,588 36,570 966 Additions - - - Disposals - - - Balance carried forward 3,588 36,570 966 7.2 Accumulated depreciation and impairment provisions Basis SL SL SL 16.67% 4% 20% Balance brought forward 3,587 14,630 772 Depreciation charge for year - 1,463 193 Balance carried forward 3,587 16,093 965 7.3 Net book value Brought forward 1 21,940 194 Carried forward 1 20,477 1	Chapel pews 5,083 - - 5,083 SL 5% 1,016 254 1,270 4,067 3,813	Total 46,207 - - 46,207 Total 20,005 1,910 21,915 26,202 24,492

THE QUEILLE TRUST CHARITY NUMBER 1103176 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 (Continued)

Note 7 (Continued)

Messrs Pianos Parisot, the original supplier of the Steinway piano, have certified that at 30 September 2012, the market value of the piano was £36,570, and it has been shown in the accounts at that valuation. The trustees have amended its useful life for depreciation purposes to a further 25 years from 30 September 2012, and confirm that in their opinion the value of the piano has not changed materially since that date.

Note 8 Investment assets

The Trust holds no investments of any material value.

Note 9 Debtors

This year Last year £ £ Trade debtors - -

Note 10 Creditors and accruals

10.1 Analysis of creditors

Accruals and deferred income Total	Amounts falling due within one year Amounts falling due after more than one year This year £ Last year £ This year £ Last year £ 2,900 798 - -
	2,900 798 - -

Note 11 Endowment funds

In the year ended 30 September 2005, The Blueberry Charitable Trust, The Strawberry Charitable Trust, The Cheshire Children’s Charitable Trust and Mr Nicolas Lethbridge, a Trustee, all made donations to the Trust with wishes that their donations be treated as an Unrestricted Expendable Capital Endowment. The Trustees have the power to convert such Expendable Capital Endowments into income at their discretion. All other funds of the Trust are held in the General Fund which is Unrestricted. In the year ended 30 September 2023, £18,758 (2022: Nil) was transferred from Endowment Fund to the General Fund.