2022-12-31-accounts - Martin Read Foundation

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Trustees’ Annual Report for the period

From: January 1[st] 2022 To December 31[st] 2022

Charity name: Martin Read Foundation

Charity registration number: 1156661

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The object of this CIO is to advance the education of the public in the UK in the subject of the composition of music.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The main public benefit activities of the Foundation which were undertaken in 2022 were to: (a) identify young composition students who were considering undergraduate study, who would benefit from the support the MRF was able to offer, and: (i) support the 3 selected composition students by providing funded specialist educational activities, including tutorial mentorships. 3 established composer- educators agreed to act as mentors. The young composers were responsible for arranging payment for this support from their MRF awards. (ii) provide a public performance and a recording of each of the awarded young composers’ completed commissions. (b) support 3 other applicants, who were not selected for the full award, providing free access to the workshop with the selected applicants, and Annual Festival. In the summer term MRF provided 2 on-line introductory workshops, including a short compositional task. These_‘New Voices’_ were younger applicants and thus had a year or more time remaining to reapply to MRF for the full award, making use of these summer term workshops. (c) to involve the public in exploring contemporary music, via come and sing / come and play opportunities at the annual festival. This included music written by MRF trustees and alumni. (d) plan to develop in young musicians’ a curiosity for composition, towards developing the composers of tomorrow.

Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	MRF confirms that its trustees are aware of the guidance issued by the Charity Commission on public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38	The trustees decided that £300 was to be awarded to each of the 3 successful applicants. This provided a minimum of 3x 1.5 hour mentoring lessons. Remaining funds were to be used to enhance their study of composition, at the discretion of the trustees. The award-holder was to be responsible for agreeing with their mentor the fee for these lessons, around a suggested fee of £50 per hour, and for arranging payment. Each selected young composer received a public performance of their commission at the annual MRF Festival and a recording.
Policy on social investment including program related investment	Para 1.38
Contribution made by volunteers	Para 1.38	During 2022, the volunteer trustees continued to be the driving force of the activities of the MRF. Trustees are all keen supporters and / or practitioners of music education, and of the aims of the CIO: primarily to enhance the skills of promising young composers, and include the public in explorations and / or live performance of contemporary music.
Other: The impact of COVID-19		MRF Annual Festival 2022 resumed in- person for the first time since 2019. COVID-19 had moved it on-line for 2020 & 2021. The selected composers were commissioned to write music for film, using a digital audio workstation. This commission was selected in case the process had to resume on-line, should COVID-19 escalate.

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity,	Para 1.20	In this it’s 8th year, MRF: 1) provided support to selected young composers, ensuring its continuation should COVID-19 escalate.

identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.		2) The new venture_New Voices_as described above, and the designing of compositional support relevant to their stage. 3) The Feb ’22 Starting Points workshop included the 3 award-holders and the 3 New Voices, with the composer-in- residence - a highly skilled technician in the field. 4) regards long-term benefit, of the 3 awarded young composers: 1 was awarded a choice of places at music conservatoires to study composition, and 1 is taking a gap year, then will take up a place at University studying music. 5) During the Autumn term, in it’s capacity as Hampshire Music Education Hub Partner, MRF was invited to apply for a partnership project grant. The application was successful for a classroom project for Spring Term ’23: _Tomorrow’s Composers._The aims of the project were for students to develop a passion & flair for composing, leading towards further study and for teachers to develop skills in teaching aspects of composition.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41
Performance of fundraising activities against objectives set	Para 1.41
Investment performance against objectives	Para 1.41
Other

Financial Review

Review of the charity’s financial position at the end of the period	Para 1.21	At the end of this period, restricting the £2,190 grant to the 2023 project _Tomorrow’s Composers,_MRF had £1,577 for the award scheme and Festival costs for ’23. Plans were hatching to mark that 10th anniversary year of Martin Read’s death to include the performance of a significant work of his, in the Festival. Applications for further grant funding to support the additional costs of this special Festival would be required.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	Other than its annual agreement to fund the awards of a small number of selected young composers, there is no further financial obligations should the CIO fold. All funds held will be put towards the chief activity of the charity: the provision of specialist support for young composers.
Amount of reserves held	Para 1.22	£1,577
Reasons for holding zero reserves	Para 1.22	n/a
Details of fund materially in deficit	Para 1.24	n/a
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	It is anticipated that the major expenditure of the charity will be the provision of the scheme’s bursaries to its awarded young composers. Fundraising may be necessary to support this annual scheme and for any additional costs regards the content of the Annual Festival or other composition projects as these arise. The charity was funded initially from the estate of the late Martin Read, Hampshire- based composer and music educator. In this eighth year of Foundation there was a growing number standing orders and donations, providing a small revenue stream. Costs for 2022 were kept low due to the Festival style gently emerging from COVID-19, such that, for instance, the awarded composers wrote on-line for film rather than for performance by an ensemble (which would have required funding).

Additional information (optional) You may choose to include further statements where relevant about:


The charity’s principal sources of funds (including any fundraising)	Para 1.47
Investment policy and objectives including any social investment policy adopted	Para 1.46	Our social media trustee continues to ensure a wider promotional reach, via Instagram, Twitter and Facebook aiming at the younger audience (the young composers of tomorrow – see below) and

		generally improving public awareness of the charity.
A description of the principal risks facing the charity	Para 1.46	Particular concerns of the Trustees during 2022, and ways towards solving them were: Reaching young aspiring composers, promoting the scheme- during the autumn term ’21, the scheme had been promoted to schools and to 6th form college music departments in Hampshire as well as by personal recommendations, including MRF alumni to younger composers encouraging them to apply to MRF’s annual scheme. COVID-19- restrictions which might be imposed as a result of it’s escalation. MRF commissioned selected composers to write music for film. How to generate the young composers of tomorrow: • through our_New Voices_approach. • through our_Tomorrow’s Composers_ partnership project with Hampshire Music Service,
Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Constitution
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	CIO
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Trustees are selected by existing trustees for their expertise as composers and / or educators. Different trustees take on specific tasks, such as drafting the Call for Scores for the annual scheme / social media / inviting suitably experienced teachers to join our cohort of mentors / fundraising / securing partnerships with other music educators, etc.

Additional information (optional) You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction Para 1.51 and training of trustees

The charity’s organisational structure and any wider network with which the charity works	Para 1.51
Relationship with any related parties	Para 1.51	MRF is a Hampshire Music Education Hub Partner.
Other

Reference and Administrative details

Charity name	Martin Read Foundation
Other name the charity uses	MRF
Registered charity number	1156661
Charity’s principal address	7, Gladstone Street, Winchester Hampshire SO23 8TQ

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Beccy Read	Founder and administrator
Alison Willis
Simon Speare
Frederick Hodkin
Alexander Ling		From 13/10/22

Corporate trustees – names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity	n/a
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects	n/a
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets	n/a

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of adviser Name Address	Type of adviser Name Address	Type of adviser Name Address
Patron	Howard Skempton	Leamington Spa
Patron	Gwyneth Herbert	Hastings
Patron	Judith Weir	London

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

n/a

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)

Full name(s) Rebecca Jill Read

Simon Speare

Position (eg Secretary, Chair, etc) Date	Trustee: founder & administrator	Trustee
	13/10/2022
	13/10/2022

Charity Name No (if any) MARTIN READ FOUNDATION 1156661 Receipts and payments accounts CC16a For the period Period start date Period end date To from 1.1.22 31.12.22

Section A Receipts and payments

	Unrestricted funds Restricted funds Notes Total funds Last year to the nearest £ to the nearest £ to the nearest £ to the nearest £	Unrestricted funds Restricted funds Notes Total funds Last year to the nearest £ to the nearest £ to the nearest £ to the nearest £
Carried forward :	2,578
A1 Receipts
Donations by standing order Other donations Donations one-off, paypal & Smile Amazon Grant (for use Spring Term 2023) Interest, gold & cash accounts Bank account closure Gift aid claim B.Read donations from MRRec fund Feb workshop ticket sales Festival ticket sales Festival donations Festival food orders paid for Proceeds from external event Donation towards next year *Sub total* _(Gross income for AR) _	385	330
	263	80
	133	11
	2,190
	-	-
	-	2
	101	-
	-	500
	-	-
	217	383
	-	100
	-	-
	-	-
	-	-
	3,289	1,406
table).


*Sub total* *Total receipts* A3 Payments Charity costs Grant spent Festival printing Expenses: selection panel Performers fees Commission fee Choir fee Pianist fee Award payments Food ordered for performers MRF concert - conductor fee Venue hire Choral score set hire / purchase & postage Associated expenses, e.g.:train fares Annual insurance premium bank account fees piano hire Advance award payment for next year *Sub total*	3,289

	3,289	1,406


	-	29
	-
	26	-
	-	-
	493	600
	-	-
	-	-
	-	-
	900	-
	-	-
	150	-
	264	-
	83	-
	23	-
	161	-
	-	24
	-	-
	-	-
	2,100	653

A4 Asset and investment purchases, (see table)
*Sub total* *Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end **Cash funds this year end **

	2,100	653

	1,189	753

	2,578	1,829
	3,767	2,578

CCXX R2 accounts (SS)

13/10/2023

Section B Statement of assets and liabilities at the end of the period

Categories Signed by one or two trustees on behalf of all the trustees B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets B1 Cash funds B2 Other monetary assets	Details Details (agree balances with receipts and payments account(s)) Details Details Details *Total cash funds* Signature	Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - Fund to which asset belongs Cost (optional) - - Fund to which asset belongs Cost (optional) - - Fund to which liability relates Amount due (optional) - - Print Name Rebecca Read Simon Speare
















			Date of approval
		Rebecca Read	Sep-23
		Simon Speare	Sep-23

CCXX R3 accounts (SS)

13/10/2023