2024-12-31-accounts - The Imogen Cooper Music Trust

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THE IMOGEN COOPER MUSIC TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

Year ended 31 December 2024

Registered charity no. 1162347

The Imogen Cooper Music Trust Year ended 31 December 2024

Contents

Legal and administrative information	2
Board of Trustees’ report	3
Independent Examiner’s report	7
Statement of financial activities	8
Balance sheet	9
Notes to the financial statements	10

Registered charity no. 1162347

Legal and administrative information

The Imogen Cooper Music Trust Year ended 31 December 2024

Legal and administrative information

Board of Trustees Mrs Penny Jonas Chair Lady Boyd Lady Elder Mr Ian Peacock Mr John Reeve Honorary President Alan Rusbridger Artistic Director Dame Imogen Cooper DBE Treasurer John Batten Administrator Alice Wright Charity registration no. 1162347 Registered address Flat 5, 125 Hornsey Lane London N6 5NH Independent Examiner Enaid Accountancy Ltd Units 24 & 25 Goodsheds Container Village Hood Road Barry CF62 5QU Principal Bankers CAF Bank 25 Kings Mill Avenue Kings Mill West Malling Kent ME19 4JQ

Registered charity no. 1162347

Board of Trustees’ report

The Imogen Cooper Music Trust Year ended 31 December 2024

Board of Trustees’ report

The Board of Trustees submit their annual report and the financial statements of The Imogen Cooper Music Trust (IMCT) for the year ended 31 December 2024. The Board of Trustees confirms that the annual report and financial statements of the Charity comply with current statutory requirements, including the Charities Act 2011, as well as the requirements of the Charity’s governing document and the provisions of 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) second edition (effective 1 January 2019)’, and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

OBJECTS AND ACTIVITIES

The objects of the Charity are to promote knowledge and appreciation of the arts, in particular the art of music for the benefit of the public.

The Trust carries out its mission by providing scholarships to exceptional young musicians. These are mainly pianists and singers at a critical point in their artistic development. They are offered the opportunity to study under the guidance of the Trust’s Artistic Director, the concert pianist Dame Imogen Cooper.

The Trust’s focus on awarding these scholarships echoes Imogen Cooper’s own experience as a young English pianist when she was invited to work with Alfred Brendel, Arthur Rubinstein and Clifford Curzon, who were at the peak of their careers. She says it was ‘an experience that has resonated with me throughout my performing life’. Through the Trust, Imogen Cooper’s wish to offer similarly significant experiences to today’s young pianists is fulfilled.

ICMT scholarships cover a one-to-one study week with Imogen Cooper ending with an open masterclass and recital. The study weeks take place in an environment of peace and tranquillity, far away from the distractions of daily life, where scholarship holders benefit from intense work on the great piano repertoire.

The Trust commits to offering the study weeks on a fully funded basis. Travel, meals, accommodation and tuition are covered by the Trust to ensure that no gifted young musician will be excluded, regardless of background or financial circumstances. Participants in the study weeks are also offered a London recital following the course. These are arranged by the Trust, with their expenses covered and a modest fee paid.

In making these commitments, the Trustees confirm that they have complied with their duty in section 4 of the Charities Act 2006 to have due regard to the Charity

Commission's public benefit guidance in determining the activities undertaken by the charity.

The Trust is fortunate to hold the study weeks in a secluded private property in France, outside Eygalières in rural Provence. The combination of three fine pianos, occasional additional teachers, warmly generous hospitality and a lack of external distractions offers a sense of retreat and renewal, rarely found in an urban environment. We are deeply indebted to our hosts for creating the environment that makes the study weeks such a success.

REVIEW OF THE YEAR

The Imogen Cooper Music Trust continued to pursue its founding purposes in offering fine young pianists, occasionally in partnership with singers, intense one-to-one study with the distinguished pianist, Dame Imogen Cooper.

Three study weeks were held in 2024. The first was held from 23-28 January at the beautiful Famington Farm in Warwickshire, generously hosted by David Hodges and Christian Kwek, and the last two were in Eygalières, from 2- 6 April and 17-21 November and were once again hosted with great generosity by Bryan Youl and Pat Ryan and Morris and Mila Goldberg.

The two fine young pianists selected by Dame Imogen Cooper for the Famington week were Giulia Contaldo and Kasparas Mikužis.

Giulia, an Italian/American, has received first prizes at the J.S. Bach Italian National Competition and the International Maria Giubilei Piano Competition and was awarded the Gold Medal at Royal Northern College of Music, its most prestigious award for instrumental performance. Lithuanianborn pianist Kasparas Mikužis is one of the 2025 winners of the Young Classical Artist Trust (YCAT) auditions. He was the winner of the Concerto and Duo and Chamber Music competitions at the Royal Academy of Music as well as winning Third Prize at the International M. K. Ciurlionis Competition.

The scholars participating in the April study week were American pianists Rachel Breen and Anthony Ratinov, both graduates of Yale University and the Julliard School. Rachel is Laureate of the 2025 Queen Elisabeth Competition and has also been awarded top prizes at Premi Iturbi (2023), the Hans von Bülow International Competition (2023) and the Bösendorfer International Competition (2023). Antony is the recent winner of the 3rd Prize at the prestigious 2024 Concours Musical International de Montréal. He also won 2nd Prize at the 2025 National U.S. Chopin Competition and in 2023, won 2nd Prize at the Busoni International Piano Competition. Some of his additional honours include the 1st Prize at the 2023 Ricard Viñes International Piano Competition, the 2nd Prize and Audience Favourite Prize at the 2023 València Iturbi International Piano Competition and

Registered charity no. 1162347

Board of Trustees’ report

The Imogen Cooper Music Trust

Year ended 31 December 2024

the 2nd Prize at the 2022 Olga Kern International Piano Competition.

We were privileged in April to be joined by the eminent photographer Clive Barda, who made a photographic record of the proceedings. His pictures can be seen on our website at

https://www.imogencoopermusictrust.com/photographyby clivebarda

The November participants were the German Jonas Stark and American Evren Ozel. Jonas took 1st prize at the Hong Kong International Piano Competition in 2022, 2nd prize at the International Beethoven Competition Vienna in 2025, 3rd prize at the International Schubert Competition Dortmund in 2021 and special prizes at the ARD International Music Competition Munich in 2022 and Deutscher Musikwettbewerb in Leipzig in 2025. Evren returned for a second week since his 2022 week was interrupted by Covid, since when he has won Second Prize and the Mozart Prize at the Cleveland International Piano Competition 2024 and Bronze Medal at the 2025 Van Cliburn Competition.

Our concert series continued with four concerts in 2024 at the Razumovsky Academy.

On 25th February Alim Beisembayev, a 2023 scholar, performed a programme of Scriabin, Ravel, Debussy and Rachmaninoff to a packed concert hall and after much applause, he treated the audience to a beautiful encore of Rachmaninoff’s Prelude in G major, Op. 32 no. 5.

On 10th April Anthony Ratinov performed at the Razumovsky Academy, having had his study week with Imogen in Eygalières the previous week. His programme of Scriabin, Schubert and Schumann was a preview of his first round programme for the Montreal International Piano Competition that would take place at the beginning of May. The audience loved the programme. Anthony said thank you by playing an early Chopin Nocturne.

On 21st April our concert series continued with Adèle Charvet and Florian Caroubi, scholars from 2019. They performed lieder by Wolf, Brahms, Mahler and Richard Strauss. The concert was preceded by a fascinating talk about Hugo Wolf by the leading lieder expert Richard Stokes.

On 4th October Rachel Breen performed for The Trust at the Razumovsky Academy with works by Beethoven, Stravinsky and Schumann.

For 2025 the trust has made new arrangements for scholars' concerts at 22 Mansfield Street in central London. It is the home of the Nicholas Boas Charitable Trust and will be familiar to many music lovers through its long-running concert series. We hope that this will make it more convenient for our supporters.

ICMT ALUMNI TO DATE IN ORDER OF PARTICIPATION

Lara Melda piano Mishka Momen piano Samson Tsoy piano Alexandra Vaduva piano Pavel Kolesnikov piano Florian Caroubi piano (attended twice) Cristian Sandrin piano Anna Geniushene piano Dominic Degavino piano Anna Szałucka piano Maria Hegele mezzo-soprano Lotte Betts-Dean mezzo-soprano Andrey Lebedev classical guitar Sarah Gilford soprano Xinyuan Wang piano Adèle Charvet mezzo soprano Ariel Lanyi piano Ying Li piano Eric Lu piano Victor Braojos piano Dmitrii Kalashnikov piano Ignas Maknickas piano Elisabeth Pion piano Maxim Kinasov piano Wouter Valvekens piano William Bracken, piano Aidan Mikdad, piano Iryna Kyshliaruk, soprano Jeeyoung Lim, bass-baritone Evren Ozel, piano Keval Shah, piano Alim Beisembayev, piano Ariel Lanyi, piano Giulia Contaldo, piano Kasparas Mikužis, piano Rachel Breen, piano Anthony Ratinov, piano Jonas Stark, piano

PLANS FOR FUTURE PERIODS

The Trust plans two further Study Weeks in Eygalières, in April and October 2025 as well as four recitals at 22 Mansfield Street.

ADMINSTRATION OF THE CHARITY

The ICMT website www.imogencoopermusictrust.com continues to be maintained and edited by Joyce Reeve, to whom all at ICMT are immensely grateful and offer heartfelt thanks.

Registered charity no. 1162347

Board of Trustees’ report

The Imogen Cooper Music Trust

Year ended 31 December 2024

STRUCTURE, GOVERNANCE & MANAGEMENT

The Imogen Cooper Music Trust is a charitable incorporated organisation administered by Trustees and governed by its constitution dated 1 June 2015. It was registered with the Charity Commission on 23 June 2015.

Every Trustee is appointed for a term of three years by a resolution passed at a properly convened meeting of the Trustees, with an option to remain a Trustee for three consecutive terms

Trustee John Reeve continues to lead on the Trust’s financial matters, working on budgets and management accounts with treasurer John Batten and administrator Alice Wright.

In the period, the Trustees all gave their time voluntarily and received no remuneration or other benefits.

Regarding the Trust’s duty of care, the Trustees have always promoted a positive culture to ensure that all involved from artists to volunteers feel able to freely report any concerns.

The Artistic Director of the Imogen Cooper Music Trust is the distinguished pianist Dame Imogen Cooper. Dame Imogen is internationally renowned, both as a performing and as a recording artist. In the period she received a token honorarium of £4,500.

We give special thanks to our Administrator Alice Wright and to John Batten in his continued role as Treasurer.

FINANCIAL REVIEW

The Charity incurred a deficit of £26,798 (2023: surplus of £53,908) in the period resulting in total funds at the periodend of £159,600 (2023: £186,398). Of these funds £141,754 (2023: £166,735) were unrestricted as to use and £17,846 (2023: £19,663) was restricted for a variety of purposes as outlined in the financial statements.

RESERVES POLICY

The Charity has no significant ongoing liabilities, and so the Trustees do not need to maintain reserves to cover closedown costs should income drop significantly. As a result, the Trustees aim to keep unrestricted reserves sufficient to meet six months operating costs to provide time to meet any shortfalls that may arise in the future. At the end of the current period this equates to c. £25,000. The current free reserves of £141,754 are significantly higher than this, however they are not deemed excessive.

STATEMENT OF BOARD OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations. Charity law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of the excess of expenditure over income for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue its activities.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Charity and to prevent and detect fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the financial and other relevant information included on the Charity’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In addition, the Trustees confirm that they are happy that content of the annual review in pages 3 to 6 of this document meet the requirements of the Trustees’ Annual Report under charity law.

They also confirm that the financial statements 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, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102, The Financial Reporting Standard

Registered charity no. 1162347

Board of Trustees’ report

The Imogen Cooper Music Trust

Year ended 31 December 2024

applicable in the UK and Republic of Ireland published on 16 July 2014.

This report was approved and authorised for issue by the Board of Trustees on 23 October 2025 and signed on its behalf by:

John Reeve Trustee

Registered charity no. 1162347

Independent Examiner’s report

The Imogen Cooper Music Trust Year ended 31 December 2024

Independent Examiner’s report to the Board of Trustees of The Imogen Cooper Music Trust

I report to the Trustees on my examination of the accounts of The Imogen Cooper Music Trust (charity number 1162347) for the year ended 31 December 2024 set out on pages 8 to 17.

Respective responsibilities of Trustees and Examiner

Independent examiner's statement

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

The charitable incorporated organisation’s (CIO) trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Charities Act). The CIO’s trustees consider that an audit is not required for this year under section 144 of the Charities Act and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act;
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and,
to state whether particular matters have come to my attention.

This report, including my statement, has been prepared for and only for the CIO’s trustees as a body. My work has been undertaken so that I might state to the CIO’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 CIO and the CIO’s trustees as a body for my examination work, for this report, or for the statements I have made.

accounting records were not kept in respect of the CIO as required by section 130 of the Charities Act; or
the accounts do not accord with those records; or
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.

Andrew Philip Nash FCA

Member of the Institute of Chartered Accountants in England and Wales – 2461833

Dated: 24 October 2025

Basis of independent examiner’s statement

Enaid Accountancy Ltd

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the CIO and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters.

Units 24 & 25 Goodsheds Container Village Hood Road Barry CF62 5QU

The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Registered charity no. 1162347

Statement of financial activities

The Imogen Cooper Music Trust

Year ended 31 December 2024

Statement of financial activities

For the year ended 31 December 2024

----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds Funds Funds
Year ended Year ended Year ended Year ended
31 Dec 2024 31 Dec 2024 31 Dec 2024 31 Dec 2023
Notes £ £ £ £
Income from:
Donations 2 13,506 2,500 16,006 82,803
Other trading activities 3 5,221 - 5,221 3,460
Investments 2,983 - 2,983 1,913
Total income 21,710 2,500 24,210 88,176
Expenditure on:
Raising funds 4 2,857 - 2,857 1,851
Charitable activities 4 & 5 43,834 4,317 48,151 32,417
Total expenditure 46,691 4,317 51,008 34,268
Net income/(expenditure) (24,981) (1,817) (26,798) 53,908
Transfers between funds 9 & 10 - - - -
Net movement in funds 9 & 10 (24,981) (1,817) (26,798) 53,908
Reconciliation of funds:
Total funds brought forward 9 & 10 166,735 19,663 186,398 132,490
Total funds carried forward 9 & 10 141,754 17,846 159,600 186,398
----- End of picture text -----

The notes on pages 10 to 17 form part of the financial statements.

Registered charity no. 1162347

Balance sheet

The Imogen Cooper Music Trust Year ended 31 December 2024

Balance sheet

As at 31 December 2024

----- Start of picture text -----
Total Total
Funds Funds
Notes 31 Dec 2024 31 Dec 2023
£ £ £ £
Fixed assets:
Tangible assets 6 15,501 19,327
Current assets:
Debtors & prepayments 7 18,355 16,420
Cash at bank and in hand 127,124 152,031
145,479 168,451
Current liabilities:
Creditors: amounts falling due
within one year 8 (1,380) (1,380)
Net current assets/(liabilities) 144,099 167,071
Net assets/(liabilities) 159,600 186,398
Funds of the charity:
Restricted funds 9 & 10 17,846 19,663
Unrestricted funds 9 & 10 141,754 166,735
Total charity funds 159,600 186,398
----- End of picture text -----

The notes on pages 10 to 17 form part of the financial statements.

These financial statements were approved and authorised for issue by the Board of Trustees on 23 October 2025 and signed on their behalf by:

John Reeve Trustee

Registered charity no. 1162347

Notes to the financial statements

The Imogen Cooper Music Trust Year ended 31 December 2024

Notes to the financial statements

1. ACCOUNTING POLICIES

Basis of preparation of the financial statements

The financial statements have been prepared in accordance with ‘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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), including Update Bulletin 1, and relevant charities law.

The effect of any event relating to the year ended 31 December 2024, which occurred before the date of approval of the financial statements by the Board of Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 31 December 2024 and the results for the year ended on that date.

the specific fund. The aim and use of each restricted fund is set out in note 9 of the financial statements.

Income

Income is recognised when the Charity has entitlement to the funds, any performance indicators attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.

Donations are recognised in full in the Statement of Financial Activities when entitled, receipt is probable and when the amount can be quantified with reasonable accuracy. Gift aid receivable is included when claimable.

Grant income is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless the grant relates to a future period, in which case it is deferred.

The functional currency of the Charity is sterling.

The amounts in the financial statements are rounded to the nearest pound.

Ticket sales are recognised on completion of the concert or masterclass.

Expenditure and irrecoverable VAT

Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.

Going concern

The financial statements have been prepared on the going concern basis as the Board of Trustees is confident that future reserves and future income is more than sufficient to meet current commitments. There are no material uncertainties that impact this assessment, and the ongoing economic environment has had no material impact on this assessment.

Legal status

The Imogen Cooper Music Trust is a charitable incorporated organisation registered in England & Wales, and meets the definition of a public benefit entity. The registered office is Flat 5, 125 Hornsey Lane, London, N6 5NH.

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 that are to be used in accordance with specific restrictions imposed by donors or that have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities.

Indirect costs, including governance costs, which cannot be directly attributed to activities, are allocated between activities proportionate to the direct costs incurred in those activities.

Irrecoverable VAT is charged against the category of expenditure for which it was incurred.

Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their residual value, over their useful life, on a straight-line basis. The useful life used is:

Musical instruments 10 years

Cash at bank and in hand

Cash at bank and in hand includes cash in hand, deposits with banks and funds that are readily convertible into cash at, or close to, their carrying values, but are not held for investment purposes.

Registered charity no. 1162347

Notes to the financial statements

The Imogen Cooper Music Trust Year ended 31 December 2024

Debtors and prepayments

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

Creditors

Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured or estimated reliably.

Financial instruments

Critical estimates and judgements

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The annual depreciation charge for property, plant and equipment is sensitive to changes in useful economic lives and residual values of assets.

In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

Basic financial instruments are measured at amortised cost other than investments which are measured at fair value.

Registered charity no. 1162347

Notes to the financial statements

The Imogen Cooper Music Trust

Year ended 31 December 2024

2. INCOME FROM DONATIONS

----- Start of picture text -----
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Dec 2024 31 Dec 2024 31 Dec 2024
£ £ £
Trusts and foundations 750 2,500 3,250
Donations 12,756 - 12,756
13,506 2,500 16,006
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Dec 2023 31 Dec 2023 31 Dec 2023
£ £ £
Donations 8,603 (800) 7,803
-
Legacies 75,000 75,000
83,603 (800) 82,803
----- End of picture text -----

3. INCOME FROM OTHER TRADING ACTIVITIES

Concert ticket sales	Unrestricted Funds Year ended 31 Dec 2024 £ 5,221 5,221	Restricted Funds Year ended 31 Dec 2024 £ - -	Total Funds Year ended 31 Dec 2024 £ 5,221 5,221
Concert ticket sales	Unrestricted Funds Year ended 31 Dec 2023 £ 3,460 3,460	Restricted Funds Year ended 31 Dec 2023 £ - -	Total Funds Year ended 31 Dec 2023 £ 3,460 3,460

Registered charity no. 1162347

Notes to the financial statements

The Imogen Cooper Music Trust

Year ended 31 December 2024

4. TOTAL EXPENDITURE

----- Start of picture text -----
Direct Indirect Total
costs costs costs
Year ended Year ended Year ended
31 Dec 2024 31 Dec 2024 31 Dec 2024
£ £ £
Expenditure on:
Raising funds 1,878 979 2,857
Charitable expenditure 31,650 16,501 48,151
33,528 17,480 51,008
Direct Indirect Total
costs costs costs
Year ended Year ended Year ended
31 Dec 2023 31 Dec 2023 31 Dec 2023
£ £ £
Expenditure on:
Raising funds 1,262 589 1,851
Charitable expenditure 22,096 10,321 32,417
23,358 10,910 34,268
----- End of picture text -----

Direct costs of raising funds consists of a proportion of concert costs as well as any fundraising events.

activities proportionate to the direct costs incurred in those activities.

Direct costs of charitable activities consists of a proportion of concert costs, costs of the study weeks, support provided to the scholars, and other related costs.

Indirect costs, including administration, website maintenance, and governance costs, which cannot be directly attributed to activities, are allocated between

All expenditure on raising funds was unrestricted in nature in both the current and prior year.

A breakdown of expenditure on charitable activities between restricted and unrestricted funds can be found in note 5.

Indirect costs includes the following fees paid to the independent examiner:

	Total	Total
	Year ended	Year ended
	31 Dec 2024	31 Dec 2023
	£	£
Independent examiner's fee	864	864
Other fees payable to examiner for gift aid support services	516	516

Registered charity no. 1162347

Notes to the financial statements

The Imogen Cooper Music Trust

Year ended 31 December 2024

5. EXPENDITURE ON CHARITABLE ACTIVITIES

----- Start of picture text -----
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Dec 2024 31 Dec 2024 31 Dec 2024
£ £ £
Direct costs 27,333 4,317 31,650
Indirect costs 16,501 - 16,501
43,834 4,317 48,151
Unrestricted Restricted Total
Funds Funds Funds
Year ended Year ended Year ended
31 Dec 2023 31 Dec 2023 31 Dec 2023
£ £ £
Direct costs 15,257 6,839 22,096
Indirect costs 10,321 - 10,321
25,578 6,839 32,417
----- End of picture text -----

6. TANGIBLE FIXED ASSETS

----- Start of picture text -----
Yamaha Yamaha
piano C7 piano Total
£ £ £
Cost
At 1 January 2024 12,331 25,950 38,281
- - -
Additions in the period
At 31 December 2024 12,331 25,950 38,281
Accumulated depreciation
At 1 January 2024 10,276 8,678 18,954
Charge for the period 1,233 2,593 3,826
At 31 December 2024 11,509 11,271 22,780
Net book value
At 1 January 2024 2,055 17,272 19,327
At 31 December 2024 822 14,679 15,501
----- End of picture text -----

Registered charity no. 1162347

Notes to the financial statements

The Imogen Cooper Music Trust

Year ended 31 December 2024

7. DEBTORS AND PREPAYMENTS

----- Start of picture text -----
Total Total
Year ended Year ended
31 Dec 2024 31 Dec 2023
£ £
Gift aid due 18,355 16,420
18,355 16,420
----- End of picture text -----

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

----- Start of picture text -----
Total Total
Year ended Year ended
31 Dec 2024 31 Dec 2023
£ £
Accruals 1,380 1,380
1,380 1,380
----- End of picture text -----

Registered charity no. 1162347

Notes to the financial statements

The Imogen Cooper Music Trust

Year ended 31 December 2024

9. ANALYSIS OF CHARITY FUNDS

----- Start of picture text -----
Funds Income Expenditure Transfers Funds
brought for the in the between carried
forward period period period forward
Year ended Year ended Year ended Year ended Year ended
31 Dec 2024 31 Dec 2024 31 Dec 2024 31 Dec 2024 31 Dec 2024
£ £ £ £ £
Unrestricted funds 166,735 21,710 (46,691) - 141,754
Restricted funds
Yamaha piano 1,667 - (1,000) - 667
- -
Yamaha C7 piano 17,569 (2,890) 14,679
Recitals 427 - (427) - -
- - -
Study week support 2,500 2,500
Restricted funds 19,663 2,500 (4,317) - 17,846
186,398 24,210 (51,008) - 159,600
----- End of picture text -----

Yamaha piano

Recitals

During the year ended 30 June 2016, £10,000 was received to contribute towards the cost of a Yamaha piano for the use of scholarship students during the masterclass course. This is released against a proportion of the depreciation cost on an annual basis.

Yamaha C7 piano

These were raised to support the costs of organising recitals for scholarship students.

Study week support

These were raised to support the costs of one of the scholars attending a study week in 2025.

During the year ended 31 December 2020, £26,600 was received to contribute towards the cost of a Yamaha piano for the use of scholarship students for recitals and other functions. This is released against a proportion of the depreciation cost on an annual basis, as well as incidental costs related to the maintenance of the piano.

Unrestricted funds Restricted funds Yamaha piano Yamaha C7 piano Recitals Scholar fund Restricted funds	Funds brought forward Year ended 31 Dec 2023 £ 105,188 2,667 20,229 3,000 1,406 27,302 132,490	Income for the period Year ended 31 Dec 2023 £ 88,976 - - (800) - (800) 88,176	Expenditure in the period Year ended 31 Dec 2023 £ (27,429) (1,000) (2,660) (1,773) (1,406) (6,839) (34,268)	Expenditure in the period Year ended 31 Dec 2023 £ - - - - - - -	Funds carried forward Year ended 31 Dec 2023 £ 166,735 1,667 17,569 427 - 19,663 186,398

Registered charity no. 1162347

Notes to the financial statements

The Imogen Cooper Music Trust

Year ended 31 December 2024

10. ANALYSIS OF NET ASSETS BETWEEN FUNDS

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Unrestricted Restricted Total
funds funds funds
Year ended Year ended Year ended
31 Dec 2024 31 Dec 2024 31 Dec 2024
£ £ £
Fixed assets 155 15,346 15,501
Current assets 145,479 - 145,479
Current liabilities (1,380) - (1,380)
144,254 15,346 159,600
Unrestricted Restricted Total
funds funds funds
Year ended Year ended Year ended
31 Dec 2023 31 Dec 2023 31 Dec 2023
£ £ £
Fixed assets 91 19,236 19,327
Current assets 168,024 427 168,451
Current liabilities (1,380) - (1,380)
166,735 19,663 186,398
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11. TRUSTEE REMUNERATION

During the period, no Trustee received any remuneration nor reimbursements of travel and subsistence expenses related to their role as a Trustee (2023: £Nil).

12. RELATED PARTY TRANSACTIONS

During the period there were no transactions carried out with related parties (2023: £Nil).

13. GUARANTEES AND SECURED CHARGES

As at 31 December 2024 the Charity did not have any outstanding guarantees to third partners nor any debts secured against assets of the Charity (2023: £Nil).

Registered charity no. 1162347