2024-12-31-accounts

Charity number: 1158927

THE YORKE TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

CONTENTS

	Page
Reference and administrative details of the Charity, its Trustees and advisers	1
Trustees' report	2 - 4
Accountants report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8 - 17

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees		Rodney Slatford OBE, Chairman
		Brenda Blewett
		Alison Cox OBE
		Jennifer Hamilton
		Carol Jennings, Vice Chairman
		Martin Wess
		Jim Fergusson (appointed 5 May 2024)
Charity registered
number 1158927
Principal office Grove Cottage
Southgate Road
Fakenham
NR21 9PA
Accountants Larking Gowen LLP
Chartered Accountants
Summerhill House
1 Sculthorpe Road
Fakenham
NR21 9HA

Page 1

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report together with the financial statements of the Charity for the 1 January 2024 to 31 December 2024.

Objectives and activities

a. Policies and objectives

The CIO's charitable object is the advancement for the benefit of the public of education in the art of music and the general purposes of such exclusively charitable bodies or for such other charitable purposes as shall be exclusively charitable as the trustees may from time to time decide in the furtherance of such object the trustees shall have the following power:

• a. to establish and support one or more centres for the teaching of music including the provision of master classes, workshops, exhibitions, recitals and concerts.

• b. to make awards of scholarships and bursaries to students of music to further their education.

• c. to develop and further existing teaching methods and to introduce or pioneer new teaching methods.

• d. to give support and aid to children and young people, schools, colleges and other charitable educational foundations.

• e. to support such other non-musical activities as will make best use of its buildings, facilities and resources at the discretion of the trustees.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Review of activities

The inaugural meeting of Trustees of the Yorke Trust was held on 9 December 1984. Celebrating forty years of achievements in July 2024, the highlight of the year was a gala concert held in the Picture Gallery, Houghton Hall, by kind permission of the Trust’s Patron, The Marquess of Cholmondeley, GCVO, DL. Lord Cholmondeley thanked the performers and congratulated Trustees for their work over the last four decades. The programme reflected this work and included young and very young double bassists, young singers from Ireland and Norwich, a percussionist working in local schools and the visually impaired internationally renowned lutenist Matthew Wadsworth, to whom the Trust gave his first opportunity to play continuo at the start of his career. The event, together with a concert in South Creake celebrating the chairman’s 80th birthday, brought many benefits to the Trust in terms of goodwill, fantastic exposure for the young musicians taking part and was great fun.

This landmark year gave much food for thought and enabled Trustees to focus on long term administration, appointment of Trustees, concerts and refurbishment. These matters were addressed during four full meetings of Trustees. Alison Randall retired as a Trustee, Carol Jennings was appointed Vice-Chairman, Jim Fergusson Honorary Treasurer, Martin Wess and Brenda Blewett Trustees. Alex Abery was re-appointed book-keeper, Sue Cutler continued as administrative assistant and Larking Gowen were re-appointed accountants.

The year’s main musical activities were centred around the Young Musicians’ Benefit Concert Series, designed to give platform experience to a wide variety of emerging young artists. These included two promising pianists and a violinist from Norwich; award-winners and participants from The Purcell School, The Yehudi Menuhin School, Royal Over-Seas League, Craxton Trust, Worshipful Company of Musicians, Instrument Loan Fund, Trinity College of Music, Royal Northern College of Music, Royal Academy of Music, Royal College of Music, and the Royal Scottish Conservatoire. Although audiences rarely exceeded thirty, the diverse programmes were well received and feedback from performers invariably positive. Some generous donations were received to cover costs.

Besides the Young Musicians’ Series, the regular Reel Fling gatherings took place during the winter months, South Creake Summer Strings filled the orchard with their annual music camp and private bookings generating a steady, if modest, stream of income throughout the year.

Page 2

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Objectives and activities (continued)

With funds raised from the anniversary celebrations in addition to a generous legacy from the estate of the late Beth Wilson, a founding Trustee, repair of the corner of the Old Norwich Arms was put out to tender and the specialists Messrs Smith Building Services Ltd. appointed. Minor works were undertaken included a thorough check of the electrics and installation of a new fuse box in the Old Norwich Arms to comply with new regulations. The outside rooms’ shower doors, bunk bed ladders and toilet seats were repaired or replaced as required and the Old Chapel’s oil tank was replaced. The operatic costume wardrobe in the Old Sunday School Room was rationalised and surplus scenery removed. Further clearance and re-organisation is scheduled.

In the aftermath of Covid and Brexit, the music profession has changed and funding for enterprise in the arts world has become ever more challenging. Trustees believe the unique facilities offered by the Yorke Trust will therefore have an even more vital role to play in maintaining and developing arts activity in the region in the years ahead, mindful of the fact that North Norfolk is geographically a long way from the large conurbations where professional orchestras and music conservatoires can thrive.

With all this in mind, an overview of the potential development of the physical aspects of the Trust’s estate was prepared by Wilf Meynell, founding director of the award-winning architectural practice Studio Bark. His feasibility study prompted the formation of a Project Development sub-committee comprising the Chairman, Honorary Treasurer, Brenda Blewett and two experienced external advisers: Stephen Threlfall, former Head of Music at Chetham’s School of Music in Manchester, who coordinated the building of the School’s new music block and concert hall; and Felicity Lyons, an ardent supporter of young musicians and a Trustee of The Maltings Arts Centre at Wells-next-the-Sea. A project manager will be appointed.

In summary, an appraisal of the first four decades of the Trust’s work and the potential identified in this year’s report indicate a positive outlook and that the Trust’s mission to develop high quality music education in the community is both a realistic and achievable objective.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

It is the policy of the charity to maintain unrestricted funds not represented by fixed assets, which are free reserves of the charity, at a level which roughly equates to at least one years normal expenditure. This is to smooth out cashflow and to meet emergencies.

The charity's total funds at the year end were £669,114 (2023: £660,336). Of these funds £645,000 (2023: £645,000) were restricted and £24,114 (2023: £15,336) were unrestricted.

At 31 December 2024 free reserves were £15,829 (2023 - £6,661), which is below the reserve target, but closer to target than the prior year.

Structure, governance and management

a. Constitution

The Yorke Trust is registered as a Charitable Incorporated Organisation (CIO) charity number 1158927. The charity is governed under a Constitution dated 21 October 2014.

Page 3

THE YORKE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 structure, governance and management (continued) b. Methods of appointment or election of Trustees The management of the Charily is Ihe responsibility of the Trustees who are elected and co-opled under the terms of the Constilution. Apart from the first charity Iruslees, every trustee must be appointed by a resolution of the trustees. In selecting individuals for appointment as charity Iruslee, the charity trustees must have regard to the skills, knowledge and experien￿ needed for the effective administration of the CIO. ¢. Organlsallonal structure and declsion-making policies The board of trustees is the principal decision making body of the charily. d. Flnanclal risk managemenl The Trustees have assessed the major risks to which the Charity is exposed, in particular Ihose related to the operations and finances of the Charity, and are satisfied thal systems and procedures are in place lo mitigate exposure lo the major risks. statement of Trustees, responsibilities The Trustees are responsible for preparing the Trustees, report and the financial stalemenls in accordance with applicable law and United Kingdom Accounting Slandards (Uniled Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England & Wales reqLJires the Trustees lo prepare financial statements for each financial which give a true and fair view of the slate of affairs of Ihe Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial stalemenls, the Trustees are required to.. select suitable accounting policies and then apply them consislenlly., observe Ihe methods and principles of the Charities SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless il is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain Ihe Charity's Iransactions and disclose with reasonable accuracy at any lime the financial position of the Charity and enable them to ensure Ihat the financial statements comply with the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the Conslilution. They are also responsible for safeguarding the assets of Ihe Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. Rodney Slatford OB Dale.. Page 4

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Independent examiner's report to the Trustees of ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Dated: 15 October 2025

Signed: Dated: Chckeee Yorba — Christopher Yeates FCA DChA

For and on behalf of Larking Gowen LLP Summerhill House, Sculthorpe Road, Fakenham, Norfolk, NR21 9HA

Page 5

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2024	2024	2024	2023
	Note	£	£	£	£
Income from:
Donations and legacies	2	14,570	-	14,570	5,033
Charitable activities	3	14,334	-	14,334	3,313
Investments	4	10,520	-	10,520	9,767
Other income		153	-	153	78
Total income		39,577	-	39,577	18,191
Expenditure on:
Charitable activities		30,799	-	30,799	22,811
Total expenditure		30,799	-	30,799	22,811
Net movement in funds		8,778	-	8,778	(4,620)
Reconciliation of funds:
Total funds brought forward		15,336	645,000	660,336	664,956
Net movement in funds		8,778	-	8,778	(4,620)
Total funds carried forward		24,114	645,000	669,114	660,336

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 8 to 17 form part of these financial statements.

Page 6

THE YORKE TRUST BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible assets 653,285 653, 675 653,285 653, 675 Current assets Debtors Cash at bank and in hand 1,157 19,560 1,046 9,443 20,717 10,489 Creditors: amounts falling due within one year 10 (4,888) (3, 828) Net current assels 15,829 6,661 Total assets less current Ilabilities 669,114 660,336 Total net assets 669,114 660, 336 Charity funds Restricted funds.. Restricted funds 645,000 645,000 Total restricted funds Unrestricted funds 645,000 24,114 645,000 15,336 Total funds 669,114 660,336 The financial slatements were approved and authorised for issue by the Trustees and signed on their behalf by: R Slatford Trustee Dale: The notes on pages 8 to 17 form part of these financial statements. Page 7

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Going concern

The trustees have considered the charity’s position at the time of signing the financial statements.

Looking ahead, the trustees anticipate a good range of lettings and musical events in the coming year.

Based on this, the trustees have concluded that the charity will have adequate resources to continue in operational existence for the foreseeable future, and at least twelve months from the date of approval of these financial statements. They therefore continue to adopt the going concern basis in preparing the financial statements.

1.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 8

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. Accounting policies (continued)

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Freehold property is not depreciated, otherwise depreciation is provided on the following basis:

Plant and machinery	-	17%
Fixtures and fittings	-	10%
Office equipment	-	2%

1.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 9

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. Accounting policies (continued)

1.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

1.10 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 10

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Income from donations and legacies

	Unrestricted	Total
	funds	funds
	2024	2024
	£	£
Donations	14,570	14,570
	Unrestricted	Total
	funds	funds
	2023	2023
	£	£
Donations	5,033	5,033

3. Income from charitable activities

	Unrestricted	Total
	funds	funds
	2024	2024
	£	£
Concert and course income	14,334	14,334
	Unrestricted	Total
	funds	funds
	2023	2023
	£	£
Concert and course income	3,313	3,313

Page 11

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

4. Investment income

	Unrestricted	Total
	funds	funds
	2024	2024
	£	£
Property income	10,520	10,520
	Unrestricted	Total
	funds	funds
	2023	2023
	£	£
Property income	9,767	9,767
Analysis of expenditure by activities
	Activities
	undertaken	Total
	directly	funds
	2024	2024
	£	£
Direct costs	30,799	30,799

5. Analysis of expenditure by activities

Page 12

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

5. Analysis of expenditure by activities (continued)

	Activities
	undertaken	Total
	directly	funds
	2023	2023
	£	£
Direct costs	22,811	22,811

Analysis of direct costs

	Total	Total
	funds	funds
	2024	2023
	£	£
Concert and course expenses	5,762	2,732
Heat, light & rates	4,207	4,091
Telephone	572	662
Repairs and renewals	6,586	3,843
Insurance and licences	4,018	3,568
Travel	590	100
Cleaning	1,865	1,578
Postage	791	179
Advertising	222	110
Bookkeeping and administrative costs	2,564	2,665
Sundry costs	349	-
Accountancy	2,874	2,892
Bank Charges	10	1
Depreciation	389	390
	30,799	22,811

6. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £2,265 ( 2023 - £2,140 ).

Page 13

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 December 2024, no expenses relating to trustee duties were reimbursed or paid directly to trustees (2023: none).

Included in expenses is £2,400 (2023: £2,400) paid to Rodney Slatford OBE for office provision, administrative services and for the use of his home as a venue. At 31 December 2024 Rodney Slatford OBE owed the charity £518 (2023: £nil) for overpaid reimbursement of charity costs that Rodney Slatford OBE had incurred personally.

8. Tangible fixed assets

	Freehold	Plant and	Fixtures and	Musical
	property	machinery	fittings	instruments	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2024	645,000	1,424	177	10,289	656,890
At 31 December 2024	645,000	1,424	177	10,289	656,890
Depreciation
At 1 January 2024	-	1,367	177	1,671	3,215
Charge for the year	-	56	-	334	390
At 31 December 2024	-	1,423	177	2,005	3,605
Net book value
At 31 December 2024	645,000	1	-	8,284	653,285
At 31 December 2023	645,000	57	-	8,618	653,675

Page 14

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9. Debtors

	2024	2024	2023
	£		£
Trade debtors	763		680
Prepayments and accrued income	394		366
	1,157		1,046
Due within one year
	1,157		1,046

10. Creditors: Amounts falling due within one year

	2024	2023
	£	£
Trade creditors	534	44
Accruals and deferred income	4,354	3,784
	4,888	3,828

Page 15

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

11. Statement of funds

Statement of funds - current year

				Balance at
Balance at 1				31
	January			December
	2024	Income	Expenditure	2024
	£	£	£	£
Unrestricted funds
General Funds	15,336	39,577	(30,799)	24,114
Restricted funds
Property	645,000	-	-	645,000
Total of funds	660,336	39,577	(30,799)	669,114
The property fund represents the charity's property.
Statement of funds - prior year
				Balance at
	Balance at			31
	1 January			December
	2023	Income	Expenditure	2023
	£	£	£	£
Unrestricted funds
General Funds	19,956	18,191	(22,811)	15,336
Property
Property	645,000	-	-	645,000
Total of funds	664,956	18,191	(22,811)	660,336

Page 16

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

12. Analysis of net assets between funds

Analysis of net assets between funds - current period

	Unrestricted	Restricted	Total
	funds	funds	funds
	2024	2024	2024
	£	£	£
Tangible fixed assets	8,285	645,000	653,285
Debtors due after more than one year	1,158	-	1,158
Current assets	19,559	-	19,559
Creditors due within one year	(4,888)	-	(4,888)
Total	24,114	645,000	669,114
Analysis of net assets between funds - prior period
	Unrestricted	Restricted	Total
	funds	funds	funds
	2023	2023	2023
	£	£	£
Tangible fixed assets	8,675	645,000	653,675
Debtors due after more than one year	1,046	-	1,046
Current assets	9,443	-	9,443
Creditors due within one year	(3,828)	-	(3,828)
Total	15,336	645,000	660,336

Page 17