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2020-08-31-accounts

I FAGIOLINI CHARITABLE TRUST Registered Charity No 1116635

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020

The trustees present their report for the financial statements for the year ended 31 August 2020. These have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity’s governing document (Declaration of Trust), applicable law and the Statement of Recommended Practice.

STRUCTURE, GOVERNANCE AND MANAGEMENT

I Fagiolini Charitable Trust is a charity, registered in England, number 1116635.

The charity is governed by a Trust Deed dated 8 August 2006.

Trustees:

The Trustees who have held office at any point during the year ended 31 August 2020 and to the date of this report are as follows:

Kieran Cooper (Chairman) ........ to October 2022 Judith Nash (Secretary) ............ to October 2021 Simon Trist (Treasurer) ............. to October 2020 Robert Hollingworth .................. to October 2020 Sam Price ................................. to October 2020 John Macgregor ........................ to October 2021 Helen Price ............................... to October 2019 Oliver Piper ............................... to October 2020 Rosemary Day .......................... to October 2021 Naomi Taylor ............................ to October 2022

All new Trustees are recruited on the recommendation of organisations and people with whom the charity works, or by existing Trustees. They are given induction information and offered appropriate training in order to fulfil their role. The Trustees have met twice in the year and have also had many conversations by phone and email. Due to Covid19 restrictions, the meeting in May was held via video conference.

Professional Advisers:

Bankers: CAF Bank. West Malling, Kent TSB. Princes Risborough, Buckinghamshire Independent Examiner: P. J. Stevenson, MA, FCA. 8 Harbord Road, Oxford

Membership:

Members of the public who make an annual donation to the Trust become Friends or Patrons of I Fagiolini. A higher level of membership, known as “Fabaelous”, for people committing to give at least £1,000 per year is also available.

OBJECTIVES AND ACTIVITIES

The object of the Trust is to advance the education of the public in the appreciation of music; in particular music for chorus, vocal consort or solo voices in all its aspects, and to further the development of the public appreciation and taste in the said arts.

The Trust’s focus is primarily as the Friends of I Fagiolini organisation, furthering our purpose to educate the public in vocal music by giving grants to I Fagiolini to enable the production of inventive and educative live performances, recordings and videos of music for voice. These include inspiring performances and recordings of previously unheard repertoire as well as works involving additional instrumental forces and creative media.

I Fagiolini is a British solo-voice ensemble directed by Robert Hollingworth, founded in 1986 at Oxford University. Its core repertoire is Renaissance and contemporary solovoice ensemble repertoire. In recent years it has pioneered innovative staged presentations. I Fagiolini’s performances of early music are historically informed but at the same time aim to bring the spirit of the music to life for new, non-specialist audiences.

Friends and Patrons are invited to selected professional rehearsals to gain an insight into what is involved in bringing a musical work to a high performing standard.

The Trust sponsors occasional workshops for members of the public to participate in performances of vocal and choral music, helping them to experience the satisfaction of learning, rehearsing and performing music to a high standard.

From time to time we receive requests from other groups, and we aim to provide support to projects when the requests are consistent with the aims and goals of the Trust and we have the resources available.

ACHIEVEMENTS AND PERFORMANCE

This year the Trust has supported a range of projects detailed in Appendix A below.

Particular highlights included the successful completion of a film of Jannequin’s “La Chasse”, and a workshop in February 2020 at Hawkwood College where attendees gained experience of rehearsing and performing some of the repertoire for the planned “Au naturel” programme.

The lockdown response to the global Covid19 pandemic had a severe impact on the incomes of singers, and so the Trust was involved in fundraising to support them through several new 'performance-at-home' initiatives, all of which were aligned with the Trust's aims. We funded the creation of a range of new film and online content which extended the reach of the work of I Fagiolini to a wider internet-based audience at a time when attendance at in-person performances was not possible. This resulted in an increase in the number of subscribing members from 164 to 387, attracting over 200 non-member donors, as well as large numbers of views online.

We were able to contribute to a 30-minute recital of Cavalli motets by the Swan Consort, which was streamed by Mumbai Royal Opera House as part of their ongoing series to retain and draw attention to the classical arts in India. We also received monies for and supported a South African composer, Bheka Dlamini.

Public Benefit:

The Trustees of the charity have had due regard both to the objectives of the charity, as set out above, and also to the guidance on public benefit published by the Charity Commission, in exercising their powers and duties.

FINANCIAL REVIEW

The Trust had total income, including tax recoverable under the Gift Aid Donations scheme, of £99,767. This sum was raised from subscribing Patrons and Friends, as well as non-member donors. £8,405 was raised to fund the film of “La Chasse.” The Trust gained agreement from all the donors to the previously proposed Wilbye project to transfer their donations totalling £2,844 to the “La Chasse” project. A donation of £5,000 was received from a single donor to support extra-curricular expenses for musical projects benefitting students at the University of York, and one of the Trustees made a donation of £625 to provide administrative support in order to free up creative time.

Donations in response to the programme of new online content for the Covid crisis amounted to £29,168 in addition to a donation from a single donor of £11,100.

The Trust made total grants of £94,596 primarily to I Fagiolini to support projects as detailed in Appendix A below.

Other expenses included £722 of bank charges, primarily for donations received via PayPal, and £444 fundraising expenses were reimbursed to one Trustee for Facebook advertising.

The Trust therefore ended the year with reserves of £43,312, of which £4,710 are restricted funds for the York Students which remains to be allocated.

Investment policy:

The Trust does not own any property or investments, as the majority of its funds need to be kept liquid to meet its ongoing obligations. The majority of the Trust’s funds are held with CAF Bank, together with a smaller balance at TSB, Princes Risborough, Buckinghamshire.

Reserves:

The trustees believe that the charity’s assets are available and adequate to fulfil the obligations of the charity as a whole.

RISK MANAGEMENT

The charity trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks. While the Covid crisis continues to have a significant impact on people who earn their living from music, it has minimal impact on the operation of the Trust. As a grant-giving body, the Trust only allocates funds that are already in hand. The Trust has primarily operated remotely, and holding the two statutory meetings via Zoom has not limited activity. The Trust continues to have a steady (and growing) stream of income, and a steady pipeline of new creative projects to support, so the Trustees have no doubts about the continuation of IFCT as a going concern for at least twelve months from the date of signing this report.

PLANS FOR THE FUTURE

The Trust expects to continue to receive a reliable subscription income from the growing number of Friends and Patrons in the coming year and will continue to raise more funds through donations towards specific projects. The Trust is currently considering supporting the following projects in 2020-21:

INDEPENDENT EXAMINATION

The independent examination of the charity's accounts has been undertaken by Peter Stevenson, Chartered Accountant.

Approved by the Trustees on 29th October 2020 and signed by order of the Trustees by

Signature…………………………… Kieran Cooper, Chairman

5 November 2020 Date…………………

Appendix A

During the year, the Trust supported the following projects:

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Independent Examiner's Report to the Trustees of l Fagiolini Charitable Trust I re￿}rt on the accounts of the charity for th¢ y¢ar ended 31° August 2020. which are set out on pages I to 4. Respective Responsibilities of Trustees and E12miner As tht charity's tnist¢¢s you are responsible for the preparaiion of the accounts. You wnsider that the audit r¢quiretnent of section 144(2) of the Charities Act 2011 (the Aa) does not apply, and that an Inde￿dent examination is needed. li is my rc5wynsibility to examine the accounts under section 145 of the Charities ACL to follow the Pr(Kedur¢s laid in the Genernl Directions given by the ChaTity Commissioners under section 145(5Xb) of the ACL and to state whether particular matters have Come to my attention. Basis of Independent Examiner's Report My examination was carried out in a¢cordance with the Genml Directions giv¢n by the Charity Cornmissioners. An exaJnination includes a review of the accounting ￿¢ordS kept by the Charity and a ￿MParIS0n of the accounts presented with those records. It a150 in¢ludes consideration of any unusual ilems or disclosures in the a¢¢ount8 and seeking explanation from you as trustees concerning any su¢h matters. The procedures undertaken do not providc all ihe evideftce that would be required in an audil 2nd Consequently no opinion is given as to whether the a¢¢ounts present a 'tTue and fair view.. and the report ts limited to those matters set out in ihe statement below. Independent Examiner's Ststement In connection with my examination, no matter has come to my attention: (l) which gives me reasonable cause to believe that in any M￿erial reS￿t the r¢quirements • to keep accounting records in a¢¢ordance with section 130 of the Act; and to prepare accounts which accord with th¢ accounting r¢cord5 and to comply with the accounting requirements of the Act and with the method5 and principles of the Statement of Recommended Practi¢e-. Accounting and Rew>rting by Charitics (FRS 102) have not been m¢t' or (2) to which, in my opinion. attention should ￿ drdwn in order to enable a proper understanding of the ac£ounts to be reachcd. Pekr J. fjÉc ￿n￿Or. Peter J. Stev¢nson Chartercd Accountant 8 Harbord Road Oxford OX2 81J Date: 29 October 2020