## **Toni V. Fell Musical Charitable Trust**
## **Annual Report**
**and**
**Financial Statements**
**Year ended**
**th 30 September 2025**
## 1. **TONI V. FELL MUSICAL CHARITABLE TRUST**
## **ANNUAL REPORT OF THE TRUSTEES for the year ended 30 September 2025**
The trustees present their annual report along with the financial statements of the charity for the year to 30[th ] September 2025.
Toni V. Fell died one month before registration but made it very clear to Jeanette Ager and Christopher Gould, who he asked to be trustees, of his intentions for the trust. Toni Fell wanted firstly to fund two competitions for singers; one in his own name and the other in the name of his deceased partner Basil A. Turner. He also wished the trust to make grants for the development and improvement of musical education.
The financial statements have been prepared in accordance with the accounting policies set out in note 1.to those statements and comply with current statutory requirements and the Statement of Recommended Practice – Accounting and Reporting by Charities.
## **Constitution**
Toni V. Fell Musical Charitable Trust is a registered charity number 1123139. The governing document of the trust is a Trust Deed dated 22[nd ] September 2007
## **Trustees**
The trustees who served during the year were as follows:
Jeanette Ager –Chairman Jean Hornbuckle Christopher Gould
New trustees must be appointed by a resolution of the trustees passed at a special meeting. In selecting individuals for appointment as trustees regard must be had to the skills, knowledge and experience needed for the effective administration of the charity.
## **Secretary**
Margaret Adams
## **Patron**
Dame Felicity Lott DBE
2
## **TONI V. FELL MUSICAL CHARITABLE TRUST**
## **Registered Address**
Moorings, Doctors Commons Road, Berkhamsted, Herts. HP4 3DR
## **Bankers**
HSBC, 181 High Street, Berkhamsted, Herts. HP4 3HQ
COIF Charities Deposit Fund, 80 Cheapside, London EC2V 6DZ
## **Objects**
The objects of the Charity are to promote, maintain and advance education, particularly musical education and to encourage the arts of music, particularly music theatre and singing. Its principal object is to provide grants and prizes to young musicians beginning their professional careers in opera and musical theatre.
## **Investment Powers**
Under the terms of the Trust Deed the trustees may invest the trust capital in accordance with the powers given by the Trustee Act 2000.
## **Reserves Policy**
The trustees are satisfied that the accumulated General Fund will produce sufficient income to enable them to continue to carry out the charitable objects of the trust in the future.
## **Risks Strategy**
The trustees have considered the major risks likely to be encountered by the trust and are satisfied that procedures are in place to mitigate these.
## **Financial Management Policy**
The nature and value of the investments and cash deposits comprising the charity’s capital endowment are kept under constant review and an up to date report is presented to the trustees at their meetings.
3
## **TONI V. FELL MUSICAL CHARITABLE TRUST**
## **Review of the Period 2024/2025**
In 2024/25 the trust continued to support the Royal Academy of Music and the Lavender Hill Mob Theatre Company.
We usually support students on the British Youth Opera summer course, but the trustees decided that this year we would give it a miss due to a change in their production format. Instead of one or two student operas they decided to stage a concert version of Peter Grimes at the Cadogan Hall. The main leads were taken by renown alumni and students took the smaller parts. The aim of this year’s concert/opera was to raise funds as they are struggling financially. Due to students not being given the opportunity to truly shine we decided to not award any prizes this year. Next year BYO intend to produce an opera completely cast by students; The Rakes Progress by Stravinsky.
The Toni V Fell Prize was held at the Royal Academy of Music and won by Georgie Lagden. The prize continues to use the original format of song and soliloquy which we feel is most useful for the students and proves to be an entertaining evening for the audience and the trustees. For the second year we only had one adjudicator, this seemed to work better and more efficiently.
The Lavender Hill Mob Mob Theatre Company continue to give many opportunities to young actors, and we enjoy knowing that Toni Fell would be proud to be helping them as he was a major participant in his local amateur dramatic company as a youth.
Jeanette Ager Chairman
4
## **TONI V. FELL MUSICAL CHARITABLE TRUST**
|**BALANCE SHEET**
**FIXED ASSETS**
Investments
**CURRENT ASSETS**
Cash at bank and in hand
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
**FUNDS**
**CAPITAL AND RESERVES**
**TOTAL FUNDS**
-------------------------
Jeanette Ager - Trustee
July 2025|**30 SEPTEMBER 2025**
**30.09.25**
**£**
**30.09.24**
**£**
159,965
211,452
149,217
93,275
**309,183**
**305,183**
=======
=======
**309,183**
**305,183**
**309,183**
**305,183**
=======
=======|
|---|---|
## 5 **TONI V. FELL MUSICAL CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 SEPTEMBER 2025**
|**Incoming Resources**
Investment income
Bank interest
Completed Investment
(£60000 paid back
£53992.82)
**Total Income**|**Unrestricted**
**Funds**
**£**
7,400
2,735
53,992||**Total**
**30.09.25**
**£**
**30.09.24**
**£**
7,400
9,031
2,735
203
53,992
0|**Total**
**30.09.25**
**£**
**30.09.24**
**£**
7,400
9,031
2,735
203
53,992
0|
|---|---|---|---|---|
||61,395
=====||~~61,395~~
======
|9,234
======|
|**Resources Expended**|||||
|Direct charitable
expenditure|(7,850)||(7,850)|(4,800)|
|Administration expenses|(339)||(339)|(122)|
|Total Expenditure|(8,139)||(8,139)|(4,922)|
|Resources Expended|(8,139)||(8,139)|(4,922)|
||=====||======|======|
|**Net Income for the period**
**Statement of Total Recognised**
**Gains and Losses**
Unrealised gains/ (losses)
on investments Investment Completed
£60000 paid back £53992.82
**Net movement in funds**
Balance brought forward at
30 September 2025 / 2024
**Balance carried forward at**
**30 September 2025 / 2024**|4,449
£1771
(6,007)
£3,455
=====||4,449
£1771
(6,007)
£3,455
=====
£309,183
£309,183
**======**|2,059
£5,664
£11,466
====
£305,728
£305,728
**======**|
||||||
||||||
6
.
## **TONI V. FELL MUSICAL CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 SEPTEMBER 2025**
## **1. ACCOUNTING POLICIES**
## Accounting convention:
The financial statements are prepared in accordance with applicable accounting standards under the historical cost convention with the exception of investments which are included at market value and in accordance with the Financial Reporting Standards for Smaller Entities, the Charities Act 1993 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## Incoming resources:
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income, and the amount can be quantified with reasonable accuracy. Legacies are accounted for when they are received by the trustees.
## Resources expended:
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be attributed to a particular heading, they have been allocated to activities on a basis consistent with the use of resources.
## Grant Making
Under the terms of the Trust deed the trustees must apply the income of the charity in making grants for the purpose of public education in music in particular the development of musical theatre and classical singing. They must also establish and maintain prizes or prize funds for these objects.
## Taxation:
The charity is exempt from taxation on its charitable activities.
## Fund accounting:
Unrestricted funds can be used in accordance with the charitable objectives of the Trustees.
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## **TONI V. FELL MUSICAL CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 SEPTEMBER 2025**
## **2. INVESTMENTS**
The trustees have resolved to limit the investment of the trust capital to UK quoted managed funds available only to registered charities, UK Government securities with redemption dates not more than 25 years in the future and cash deposits with the Charities’ Official Investment Fund.
|**30.09.25**
**£**
Cost:
220,000
======
Market value at commencement of period
212,452
Unrealised gains/ (losses) during the period
1,510
Market value at end of period
159,965
**=======**
**3. CREDITORS: AMOUNTS FALLING DUE**
**30.09.25**
Other creditors
**£**
0
==
**4**.**GENERAL FUND**
**30.09.25**
**£**
Value of Fund at
start of period
305,728
Net income to date plus
unrealised gains/ less unrealised
(losses) on investments
3,455
Value of Fund at end of period
309,183
**======**
**5. DIRECT CHARITABLE EXPENDITURE**
**30.09.25**
Grants and music prizes:
**£**
To institutions
7,850
====
All grants were made to fund musical education activities|**30.09.25**
**£**
220,000
======
212,452
1,510
159,965
**=======**
**30.09.25**
**£**
0
==
**30.09.25**
**£**
305,728
3,455|**30.09.24**
**£**
220,000
=====
206,788
5,664
212,452
**======**
**30.09.24**
**£**
0
==
**30.09.24**
**£**
294,231
11,465|
|---|---|---|
|||305,728
**=======**
**30.09.24**
**£**
4,800
====|
8
## **TONI V. FELL MUSICAL CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 SEPTEMBER 2025**
|**6. ADMINISTRATION COSTS**||**30.09.25**|**30.09.24**|
|---|---|---|---|
|||**£**|**£**|
|Royal Academy of Music- Prize Fund administration||0|0|
|Advertising||-|-|
||£0|£0||
|||===|===|
|**7. TRUSTEES’ REIMBURSED EXPENSES, etc**||**30.09.25**|**30.09.24**|
|||**£**|**£**|
|During the period the following trustees received||||
|reimbursed expenses:||||
|Jeanette Ager||(280)|0|
|||==|===|
The above reimbursement comprised expenses incurred upon the Charity’s business. No trustee received any remuneration or benefits from trust funds during the year.