REGISTERED CHARITY NUMBER: 1132798 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024 for The Gavioli Organ Trust Grant Harrod Lenrlan Davis LLP Chartered Acwuntants 1st Floor Healthaid House Marlborough Hill Harrow Middleb¢X HAI IUD
The Gavioli Organ Trust Contents of the FinanciY41 Statements for the year eDded 31 Deeember 2024 Page Report of the Trustees Independenl Examlner's Report Statement of Financial Aetlvltles Balance Sheet Notes to the Ffinancial Statements 6 to 10
The Gavioli Organ Trust Report of the Trustees for the year ended 31 December 2024 The InteeS present their report with the fmancial ststernents of the charity for the year ended 31 December 2024. Th¢ trustee5 have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Pwtice applicable to charities preparing their accounts in accordance with th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objecllves and aims The acquisition, preservation and restoration of historic fairground organ for the benefit of the public. Significant aetlvllles The Trust's fundrdising activities continu¢d throughout 2024. The Trust travelled one its mobile instruments, an 89 key Marenghi organ (ex-Reeders), to 12 events in Bedfordshire. Buckinghamshire, Cambridgethire, Cheshire, Derbyshire, Hertfordshire, Shropshire, Suffolk and Worcestershire. Members of th¢ public were given tours of the organ and were able, following training, to operate the key-frame and therefore become a "Gaviman Members of the public were also welcomed to the Trust's industrial unit in Milton Keynes for recitals. Restoration of the Tnt'S 89 key Marenghi Organ (ex-middleton) continued with work on the main chests, bellows and pipework. Fade restoration and decoration on this organ, together with tbe Trnst's 89 key G4 Gavioli {ex-ThuTstons) and 89 key Gavioli {G2), and their flgures (12 in total), continued using the skills of a specialist Belgian woodcarver aDd decorator. The Trustees supervised these restoration work streams with visits, Calls and enlIs. The Trnst acquired an exceptionally rare early 84 key Mortier dance organ, serial number unknown, from the Netherlands. Urgent conservation work commenced in February on the organ's facade. The Trust continued to acquire new and second-hand music books for both 89 VB and 89 G4 scales from the UK and the Continent. Publlc benefit The public benefits from the activities of tbe Trnst because it is one of the few charitable organisations in the world which commits significant resources and expertise lo the rescue, restordtion and maintenance of historic and original fairground organs. An important element of fairground heritage is ther¢fore preserved for the benefit of the public. As one of the Trust's instruments is exhibited and played at public events, significant numbers of people can listen to, and inspect the workirtg parts of, a historic and restored fairground organ. FINANCIAL REVIEW Reserves policy The Trust aims to tnaintain sufficient reserves in the event that donations to the TTht fall and replacement funding cannot be obtained. FufuRE PLANS The Trust will continue its extensive restoration process in respect of the eight organs in its care. The Trnst will continue to travel one of its 89 key Marenghi organs to a full season of events. STRUCTURE, GOVERNANCE AND MANAGEMENT GoverniDg document The charity is controlled by its governing document, a deed of trnst and Constitutes an unin¢orporated charity. Retruilment and appointjnent of new trustees No new TnL8tees were appointed during this fman¢ial year. Organisational structure The Tnt is governed by a voluntary Board of Trustees. During 2024, the Trust comprised three Trnstees who were responsible for ensuring the Trust fulfils its responsibilities in relation to charitsble law. The ChaIrn oversees the strategic and operational llnagement of the Trust and reports to the other Tntstees on a regular b&8is. Page I
The Cavioli Organ Trust Report of the Trustees for the year ended 31 Deeember 2024 STRUCTURE, GOVERNANCE AND MAI¥AGEMENT Induetion and training of new trustees In the event that new Trustees are appointed. then they are provided with an update on the progress of the TnL8t and any other relevant infonnation. Trdining of Trustees is provided where necessary. REFEREIYCE AIYD ADMINISTRATIVE DETAILS Registered Charity number 1132798 Prinefipal address Flat 2 Greek Court 14a Old Compton Street London WID4TJ Trnstees A Tyler-moore K Meayers N Jacksort Independent Examiner Grdni Harrod Lem]an Davis LLP Chartered Accoulltants 1st Floor Healthaid House Marlborough Hill Harrow Middlesex HAI IUD Approved by order of the board of tn]stees on................ . . , and signed on its behalf by: A Tyl¢T-Moore - Trustee Page 2
IndepeDdent Exandber'$ R¢port to the Th18tees of The Gakloll Org*D Tht Independent exAnthier'8 rert to the trllsteu of Tbe Gavloll Organ Trust I report to the clwity trustees on my exau]irntion of the acLounts of The Gavioji Organ Trnt (the Trust) for the year ended 31 Decembu 2024. Respon8lblllde5 and basis of report As the chaTity of the Trnst you are responsible for the prcpardtion of tlLe accounts in accor(1ance with the Tequircments of the Charities Act 2011 {'tbe Acfj. I rcport in rcspcet of my ¢XamijtIOn of the Trtssvs accounts CaTTied outunder Seuion 145 of the Act and iTr carrying out my exathltion I have foliowcd all appliL3ble Direclions given by the Ch3rity COMt)s1o under Section 145(5)(b) of Independtht examlner's statement I havc cornplctcd my cxaminthoTr I confirm that no rnateri41 n)atters havc com¢ to my attention in conllcclion with the examination gAVillg me cause to bclievc that in any matcri81 r¢spect accounting COrdS were not kept ill respe¢t of th¢ Trust as required by Scc(ion 130 of the Ac(. OT th¢ acwwits do not accord with those recor&" or tbe accounts do not con)ply with tbc applicable requirern¢nts concerning tb¢ form ond content of accounts set out in the C]witie8 (Ac¢oullts and erts) Re8ulations 2008 other than any reqUirenrt that the arKounts give a trne and fair viewwhich is not a matter c4)nsideTcd as part of an independetrt exan)inatioL I bave no c4)nceEw and have come acr058 no other D]attcts in ¢onueGtiOll with the examinatioD to which attention s}uld be dravrn in tbi8 report itt order to enable a propcr underst8nding of the accounts to be rcached. JeretThy Ha0d FCCA Grant Hartod Txtman Davi8 LLP 1st Floor Healthaid House MaTiborough Hiu Middlesex HAI IUD Page 3
The Gavioli Organ Trust Statement of Finaneial Activities for Ibe year ended 31 December 2024 2024 UDrestricted fund 2023 Total fimds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 233,953 112,413 Investment income 13 60 Total 233,966 112,473 EXPENDITURE ON Cbaritable activities Charitable 50,235 34,110 NET INCOME 183,731 78,363 RECONCILIATION OF FUNDS Total fim(L8 brought fonvard 1,591,199 1,512,836 TOTAL FUNDS CARRIED FORWARD 1.774,930 1,591,199 Th¢ notes forni part of these financial statemenls P2up d
The Gavklll Organ Trust Balance Sheet 31 December 2024 2024 2023 Unrcstrictcd Total Not¢s FIXED ASSETS Tallgiblc a&ts Ilerltsge assets 94,946 1,712,689 95.490 1,540.248 1,807,635 1,635,738 CURRENT ASSETS 316 85 894 I03 CAsh at bAnk 401 997 CREDITORS Anllts f811iThg due within one year (1200) {900) NET CURRENT ASSETS (799) 97 TOTAL ASSETS LESS CURRENT 1,806,836 1.635,835 cREDORs An]ounts falling due after more than one year (31,906) (44,636) ASSETS 1,774,930 1,591,199 li Unrestilcted fill¥Js 1.774.930 1.591.199 TOTALFUIYDS 1.774.930 1,591,199 were approved by the Board of Tntst£e8 and autborised for i5suc on .. and were sigued on its bebalf by.. A Tyler-mo . Tnte¢ The noles form part of these financial statements Pag¢ 5
The Gavloll Organ Trust Notes to the Finanelal Ststements for the year ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing the finaneisl statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Chwities.. Siatement of Recornmended Practice applicabl¢ to charities preparing their accounLs in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Clwities Act 2011. The finan¢ial statements have been prepared under the historical cost onvenlion. Ineome All income is recognised in ihe Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or Constructive obligation conjmitting the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been cla55ifi¢d under headings that aggregate all cost related to the category. Where costs cannot be directly attribuied to particular headings they have been allocated to activities on a basis Consistent with the use of resources. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be ed in aOrdanCe with the charitable objectives at the discretion of the trustees. Restri¢ted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and pOSe of each fund is included in the notes to the financial statements. INVESTMENT INCOME 2024 2023 Deposit account interest 13 60 TRUSTEESI REMUNERATION AI¥D BENEFrtS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 Decenther 2023. Page 6 continued...
The Gavioll Organ Trust Notes to the Financl81 Statements - continued for the year ended 31 December 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMEPITS FROM Donations and legacies 112,413 Investment income Totsl 112,473 EXPENDITURE ON Charfitable activities Charitable 34,110 NET COmE 78,363 RECOIYCILIATION OF FUNDS Totsl funds brought fonvard 1,512,836 TOTAL FUNDS CARRIED FORWARD 1,591,199 TANGIBLE FIXED ASSETS Freehold propety Computer equipment Totals COST At l January 2024 and 31 December 2024 94,946 544 95,490 DEPRECL4TION Charge for year 544 544 NET BOOK VALUE At 31 December 2024 94,946 94.946 At 31 December 2023 94,946 544 95,490 HERITAGE ASSETS Total MARKET VALUE At l January 2024 AdditioDS 1,540248 172,441 At 31 December 2024 1,712,689 NET BOOK VALUE Al 31 December 2024 1,712.689 At 31 December 2023 1,540,248 Page 7 continued...
The Gavioli Organ Trust Iyotes to the Fillallcial Statements - continued for the yeAr ended 31 December 2024 DEBTORS: AMOUNTS FALLING DUE WITHL¥I ONE YEAR 2024 2023 VAT 316 894 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other crcditOTS 1,200 900 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Bank loans (see note 10) 31,906 44,636 10. LOANS An analysis of the matUTity of loans is given below: 2024 2023 Amounts falling due in more than five years.. Repayable by instalments: Bank loans rnore 5 yr by instal 31,906 44,636 ii. MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestricted funds General fund 1,591,199 183,731 1.774,930 TOTAL FUNDS 1,591,199 183,731 1,774,930 Net movement in funds, included in the above are as follows.. Incoming resources Resources ¢xp¢nded Movement in funds Unrestrieted funds G¢neral limd 233.966 (50,235) 183,731 TOTAL FUNDS 233,966 (50,235) 183,731 Page 8 continued...
The Gavfioli Organ Trllst Notes to the Flnaneial Statements - continued for the year ended 31 December 2024 ii. MOVEMENT IN FUNDS - eontinued Comparatives for movement in funds Net movement in funds At 31.12.23 At 1.1.23 Unrestrficted funds G¢n¢ral tund 1,512,836 78,363 1,591,199 TOTAL FUNDS 1,512,836 78,363 1,59J,199 Comparative net movement in fun(ts, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds Gen¢ral fimd 112,473 {34,110) 78,363 TOTAL FUNDS 112,473 (34,110) 78,363 A current year 12 months and prior year 12 months combined position is as follows.. Net movernent in ndS At 31.12.24 At 1.1.23 Unrestrieted funds Gcneral fimd 1,512,836 262,094 I,774.930 TOTAL FUIYDS 1,512,836 262,094 1.774,930 A CUTrenl year 12 months and prior year 12 months combined net movement in funds, included in the above arc as follows: tncoming resources Resources expended Movement in fill)ds Ullrestricted funds Gencral fund 346.439 (84,345) 262,094 TOTAL FUNDS 346.439 (84,345) 262,094 Page 9 continued..
The Gavloll Organ Trust Notes to the Ffinancial Statement5 - continued for the year ended 31 December 2024 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2024. Page 10