Registered Charity Number: 1167616 

THE AIDAN WOODCOCK CHARITABLE TRUST TRUSTEES' REPORT AND ACCOUNTS 

_FOR THE YEAR ENDED 31 MAY 2023_ 



## THE AIDAN WOODCOCK CHARITABLE TRUST 

## CONTENTS 

||Page|
|---|---|
|Legal and administrative information|1|
|Chairman's report|2-3|
|Trustees'report|4|
|Statement of trustees' responsibilities|5|
|Independent examiner's report to the trustees|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Notes to the accounts|9-11|





## THE AIDAN WOODCOCK CHARITABLE TRUST 

## LEGAL AND ADMINISTRATIVE INFORMATION 

|Trustees|• Hugh Parry FCA|Chairman|
|---|---|---|
||• Elspeth Arden||
||• Keith Berry||
||• Martin Brackenbury||
||• Matthijs Broersma B.Mus (Hons), Guildhall||
||School of Music & Drama; MA (Music||
||Performance), Hochschule der Künste, Bern||
||• Arisa Fujita B.Mus (Hons), Guildhall School of||
||Music & Drama||
||• Wayne Kitcat|Treasurer|
||• Andrew Newton (appointed 5 June 2023)||
||• Mark Woodcock (resigned 14 November 2022)||
|Artistic Advisor|David Waterman PhD MA||
|Management|Laurence Herbert|Accountant|
||Sarah Baldwin|Marketing and operations manager|
|Registered Charity Number|1167616||
|Principal address|Mill Way House||
||Guildford Road||
||Westcott||
||Surrey RH4 3LB||
|Website|http://www.maiastra.org/||
|Examiner|Peter Dobree FCA||
||Rocking Horse Cottage||
||7 Cotmandene||
||Dorking||
||RH4 2BL||
|Bank|CAF Bank||
||25 Kings Hill Avenue||
||Kings Hill||
||West Mailing||
||Kent ME19 4JQ||
||_Account number: 00008685_||
||_Sort code: 405240_||
|Investment manager|CCLA Fund Managers Limited||
||Registered in England No. 8735639||
||Senator House||
||85 Queen Victoria Street||
||London||
||EC4V 4ET||





## THE AIDAN WOODCOCK CHARITABLE TRUST 

## CHAIRMAN'S REPORT for the year ending 31 May 2023 

The Aidan Woodcock Charitable Trust, which operates under the name Maiastra, has continued to provide high quality courses for talented students. I am delighted to report that over the past year Maiastra has arranged 23 public concerts for 26 students. We were able to hold four long (residential) courses and four short (non-residential) courses The long courses take place in a beautifully converted barn in the Surrey Hills outside Dorking which provides an ideal space in which to study the chamber music repertoire under the direction of one of our course directors. To summarise Maiastra’s activities over the past six years: 

||22/23|21/22|20/21|19/20|18/19|17/18|
|---|---|---|---|---|---|---|
|Public concerts|23|25|COVID|16|25|29|
|Students|26|35|COVID|17|35|40|
|Residential courses|4|3|COVID|4|5|4|
|Short courses|4|5|COVID|2|5|8|
|Fundraiser for Ukraine|n/a|1|n/a|n/a|n/a|n/a|



## **Course directors** 

We were delighted to welcome back Florence Cooke the internationally renowned violinist to direct two of our residential courses; Arisa Fujita and Akiko Ono directed the other two. Arisa and Akiko together with David Waterman directed the short courses. Upon these course directors lies the responsibility of achieving and maintaining the results which have come to be expected and to them the Charity owes a substantial debt of gratitude. 

## **Outside coaching** 

Professor David Takeno continues to provide inspirational input not only as a coach for the courses but also through his interest and concern for the work of the Charity. We are fortunate to have excellent backup in David Waterman, previously cellist of the Endellion Quartet, and Simon Rowland-Jones, violist of the Chilingirian Quartet. Each one of these coaches is outstanding. 

## **Administration** 

Organising public concerts entails much work. The Trust's marketing and concert organisation has been run very efficiently by Sarah Baldwin, a professional violinist, who joined us in May 2022 as Marketing Co-ordinator. In August 2022, she has taken on operational responsibility for organising the concerts and was appointed Marketing and Operations Manager. 

Laurence Herbert continues to do a sterling job in providing accounting services for the Trust. 

In addition, we greatly appreciate the tremendous support of the many volunteers who assist in different ways, such as serving refreshments and audience liaison. Many thanks to them all. 

## **Board** 

Mark Woodcock resigned on 14 November 2022. I wish to record the Trust’s grateful thanks to him for his contribution since April 2017. Andrew Newton joined the board on 5 June 2023 and brings a wealth of management experience. 

**-2-** 



## THE AIDAN WOODCOCK CHARITABLE TRUST 

## CHAIRMAN'S REPORT for the year ending 31 May 2023(continued) 

## **Financial position** 

For the year ending 31 May 2023 the Trust’s income reduced by two one off events in the previous year, firstly, the legacy of £96,700 from the estate of Susan Woodcock and secondly, the Ukraine fundraiser held in March 2020 which raised £17,270. Our costs have risen because of the appointment of a Marketing and Operations Manager and venue costs have risen above inflation. The Trust’s investments increased by 2.1%. 

## **Instruments** 

In 2015 the Trust acquired a Matteo Goffriller violin c. 1690 so that it could be loaned to a promising performer on a year-by-year basis. Since then, the violin has been used by Savitri Grier whose career is developing well and who is now Associate Concertmaster of the Bayerische Rundfunk Symphonie Orchester in Munich. Of the items donated to the Charity in March 2022, the Bowers viola has been repaired and after careful consideration the trustees have decided to grant the instrument to the Menuhin School; three bows have been sold, two have been loaned to talented musicians and the remaining one is awaiting placement with an appropriate player. 

## **Donors** 

It continues to be desirable to maintain the free-of-all-charge student policy in relation to the courses and this would not be possible without donations, both general and those arising from retiring collections at the end of each concert. A word of special thanks to all our donors who enable us to fulfil our objectives and for whom the concerts themselves stand as a testament to their generosity. 

## **The Future** 

The trustees of the Aidan Woodcock Charitable Trust are looking forward to meeting the challenge of continuing to nurture musical talent in young people about which Aidan cared so deeply. 

Hugh Parry^ 4 August 2023 

**-3-** 



## THE AIDAN WOODCOCK CHARITABLE TRUST 

## TRUSTEES' REPORT for the year ending 31 May 2023 

The trustees present their report and accounts for the year ended 31 May 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's rules, applicable law, and the requirements of the Statement of Recommended Practice, "Accounting and Reporting by Charities (SORP 2005), applicable UK accounting standards and the Charities Act 2011". 

## **Objects of the charity** 

The Aidan Woodcock Charitable Trust was established to promote, maintain, improve and advance education by the encouragement of the art or science of music, in particular chamber music, in such ways as shall be thought fit. The Trust is governed by a board of trustees. The board of trustees meets regularly to discuss plans, finance and fundraising. Trustees are appointed by existing trustees in General Meetings. 

## **Review of activities and performance** 

See Chairman's Report (pages 2-3). 

## **Brand Name** 

Concerts promoted by the Trust are done so under the brand name MAIASTRA, the magic bird of Romanian folklore gifted with the power of restorative song. 

## **Trustees** 

The trustees who served during the year are listed in the legal and administrative section. 

## **Reserves policy** 

It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level required to continue to meet the objectives of the Trust. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding or increase in its costs, they will be able to continue to meet the Trust's objectives. Consideration is given to ways in which additional funds may be raised. 

## **Safeguarding** 

The Trust has always regarded Safeguarding as of the utmost importance and there have been no instances of abuse reported since its inception. The Safeguarding policy has this year been updated and a copy of the policy and procedures is provided to all participants prior to their participating in any course regardless of its duration or location. 

## **Risk factors** 

The trustees consider risks as part of their ongoing planning and decision making and the trustees are satisfied that systems are in place to manage such risks. 

## **Asset cover for funds** 

The assets are sufficient to meet the Trust's obligations. 

On behalf of the board of trustees 

Hugh Parry Chairman and trustee 4 August 2023 

**-4-** 



## THE AIDAN WOODCOCK CHARITABLE TRUST 

## STATEMENT OF TRUSTEES' RESPONSIBILITIES _FOR THE YEAR ENDED 31 MAY 2023_ 

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the applicable Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- • state whether applicable accounting standards 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 it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## Approved by the trustees and signed on their behalf by: 

**-5-** 



## THE AIDAN WOODCOCK CHARITABLE TRUST 

## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES 

I report on the accounts of the Trust for the year ended 31 May 2023, which are set out on pages 7 to 11. 

## **Respective responsibilities of trustees and examiner** 

The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed. 

## It is my responsibility to: 

- Examine the accounts (under section 145 of the 2011 Act), 

- • To follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5) of the 2011 Act), 

- and to state whether particular matters have come to my attention. 

## **Basis of the independent examiner’s statement** 

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 charity and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanation from the trustees concerning any such matters. 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. 

## **Independent examiner’s statement** 

In the course of my examination, no matter has come to my attention 

- 1) which gives me reasonable cause to believe that in any material aspect the requirements: 

   - a) to keep accounting records in accordance with section 130 of the 2011 Act; and b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act 

## have not been met, or 

- 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

Peter Dobree FCA 4 August 2023 

**-6-** 



## THE AIDAN WOODCOCK CHARITABLE TRUST 

## STATEMENT OF FINANCIAL ACTIVITIES _FOR THE YEAR ENDED 31 MAY 2023_ 

||**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|**INCOME**|||
|Donations|30,058|44,395|
|Gift Aid|6,935|9,763|
|Legacy|**-**|96,700|
|Interest income|10|**-**|
|**Total income__**|**37,003**|**150,858**|
|**EXPENDITURE**|||
|Ukraine fundraiser grants|**-**|(17,270)|
|Course costs|(43,901)|(41,958)|
|Insurance costs|(1,878)|(835)|
|Marketing and operations|(15,085)|(3,325)|
|Administration|(1,237)|(869)|
|Bank charges|(231)|(362)|
|**Total expenditure__**|**(62,333)**|**(64,619)**|
|**Net income before gains/(losses) on investments __**|**(25,330)**|**86,239**|
|Gains and (losses) on investment assets|7,495|13,064|
|**Net movement in funds__ **|**(17,835)**|**99,303**|
|**RECONCILIATION OF FUNDS**|||
|Total funds brought forward|**660,959**|**561,657**|
|**Total funds carried forward__**|**643,124**|**660,959**|



**The notes on pages 9 to 11 form part of these financial statements** 

**-7-** 



## THE AIDAN WOODCOCK CHARITABLE TRUST 

## BALANCE SHEET 

## _FOR THE YEAR ENDED 31 MAY 2023_ 


**----- Start of picture text -----**<br>
2023 2022<br>Notes £ £ £ £<br>Fixed assets<br>Investments 4 348,256 340,761<br>Instruments 5 283,700 301,200<br>Total fixed assets 631,956 641,961<br>Current assets<br>Debtors 6 7,154 7,457<br>Cash at bank and in hand 5,759 15,663<br>Total current assets 12,913 23,120<br>Liabilities<br>Creditors: amounts falling due within one year 7 (1,746) (4,122)<br>Net current assets 11,167 18,998<br>Net assets 643,123 660,959<br>The funds of the charity<br>Unrestricted funds (643,123) 660,959<br>Total charity funds 643,123 660,959<br>o<br>**----- End of picture text -----**<br>


Approved by the trustees and signed on their behalf by: 

04 August 2023 


**----- Start of picture text -----**<br>
The notes on pages 9 to 11 form part of these financial statements<br>**----- End of picture text -----**<br>


**-8-** 



## THE AIDAN WOODCOCK CHARITABLE TRUST 

## Notes to the accounts 

## _FOR THE YEAR ENDED 31 MAY 2023_ 

## **1 Basis of preparation** 

## **1.1 Basis of accounting** 

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. 

**2 Accounting policies 2.1 INCOMING RESOURCES Recognition of incoming resources** These are included in the Statement of Financial Activities (SoFA) when: the Trust becomes entitled to the resources; the trustees are virtually certain they will receive the resources; and the monetary value can be measured with sufficient reliability. **Tax reclaims on donations and gifts** Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate. **Volunteer help** The value of any voluntary help received is not included in the accounts but is described in the Chairman's report. **Investment income** This is included in the accounts when received. 

**2.2 EXPENDITURE AND LIABILITIES Liability recognition** Liabilities are recognised as soon as there is a legal or constructive obligation committing the Trust to pay out resources. **2.3 ASSETS Investments** Investments quoted on a recognised stock exchange are valued at market value at the year end. **Instruments** Instruments are valued at cost or at probate value where instruments have been left to the Trust as part of a legacy less a provision for initial repair costs. 

**-9-** 



## THE AIDAN WOODCOCK CHARITABLE TRUST 

## Notes to the accounts _FOR THE YEAR ENDED 31 MAY 2023_ 

|**3 **|**Details of certain items of expenditure**|||
|---|---|---|---|
||**Trustee expenses**|||
||**_Reimbursement of out-of-pocket expenses made to trustees for expenses incurred by trustees._**|||
|||**2023**|**2022**|
||Number of trustees who were paid expenses|4|5|
||Nature of the expenses|Course & publicity Course & publicity||
|||costs costs||
||Trustees reimbursed|8,983|8,124|
||**Total amount paid**|8,983|8,124|
|**4 **|**Investment assets**|||
|||z.||
||Carrying (market) value at 1 June 2022|340,761||
||Add:|||
||purchase of COIF units|20,000||
||sale of COIF units|(20,000)||
||net gain/(loss) on revaluation at year end|7,495||
||Carrying (market) value at 31 May 2023|348,256||
||**Analysis of investments as at 31 May 2023**|||
|||Market price per|Market Value|
|||unit at|at|
|||31 May 2023_______Total units 31 May 2023||
|||£|£|
||COIF Charities Investment Fund - Accumulation Units|||
||A/C 127510001R|228.4078|1,524.71<br>348,256|
|**5 **|**Instrument assets**|||
|||**2023**|**2022**|
|||£|£|
||Instruments at cost or valuation at 1 June 2022|301,200|230,000|
||Instruments bequested||96,700|
||Instruments sold|(17,500)|(25,500)|
||**Instruments at cost or valuation at 31 May 2023**|283,700|301,200|
||**Analysis of instrument assets as at 31 May 2023**|||
||Instruments bequeathed to the Trust in March 2022 and valued at probate by J. & A. Beare Ltd|||
||Sartory viola bow|35,000|35,000|
||Ouchard viola bow|12,000|12,000|
||Hans Carl Schmidt viola bow|4,200|4,200|
||Bowers viola|2,500|2,500|
||Lamy violin bow (sold at valuation in November 2022)||17,500|
||Instrument acquired in December 2015|||
||Goffriller violin (at cost)|230,000|230,000|
||**Instruments at cost or valuation at 31 May 2023**|283,700|301,200|
||The trustees are advised by Beare Violins Limited with respect to market conditions and have been advised that|||
||the realisable value of these instruments assets is in excess of their carrying value.|||



**-10-** 



## THE AIDAN WOODCOCK CHARITABLE TRUST 

## Notes to the accounts _FOR THE YEAR ENDED 31 MAY 2023_ 

## **6 Debtors and prepayments** 

|**6 **|**Debtors and prepayments**|||
|---|---|---|---|
|||**Amounts falling due**||
|||**within one year**||
|||**2023**|**2022**|
|||**£**|**£**|
||HMRC Gift Aid rebate|6,935|6,143|
||Prepayments and accrued income|219|1,314|
||**Total___** 7,154||7,457|
|**7 **|**Creditors and accruals**|||
|||**Amounts falling due**||
|||**within one year**||
|||**2023**|**2022**|
|||**£**|**£**|
||Accruals and deferred income|(1,746)|(4,122)|
||**Total__** (1,746)||(4,122)|
|**8 **|**Transactions with related parties**|||
|||**2023**|**2022**|
|**8-1 **|**Remuneration for professional fees as**|||
||**permitted by the Trust Deed to trustees**|**£**|**£**|
||Arisa Fujita - as course director of residential|||
||chamber music courses|5,000|5,000|
||Arisa Fujita - as course director of non residential|||
||chamber music courses|-|-|
||**Total___**|5,000|5,000|



**-11-**