Registered Charity Number: 1167616 THE AIDAN WOODCOCK CHARITABLE TRUST TRUSTEES' REPORT AND ACCOUNTS **----- Start of picture text -----**
FOR THE YEAR ENDED 31 MAY 2024
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## 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| |Notestotheaccounts|9-11| ## THE AIDAN WOODCOCK CHARITABLE TRUST ## LEGAL AND ADMINISTRATIVE INFORMATION |Trustees|e|Hugh Parry FCA|||Chairman| |---|---|---|---|---|---| ||e|Elspeth Arden|||| ||e|Keith Berry|||| ||e|Helen Blow (appointed 17 June 2024)|||| ||e|Martin Brackenbury|||| ||e|Matthijs Broersma B.Mus (Hons), Guildhall|||| |||School ofMusic & Drama;||MA (Music|| |||Performance), Hochschule der Kiinste, Bern|||| ||e|Arisa Fujita B.Mus|(Hons), Guildhall School of||| |||Music & Drama|||| ||¢|Wayne Kitcat|||Treasurer| ||e|Andrew Newton (appointed 5 June 2023)|||| |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:/Awww.maiastra.org/|||| |Examiner||Peter Dobree FCA|||| |||Rocking Horse Cottage|||| |||7 Cotmandene|||| |||Dorking|||| |||RH4 2BL|||| |Bank||CAF Bank|||| |||25 Kings Hill Avenue|||| |||Kings Hill|||| |||West Malling|||| |||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|||| |||EC4V4ET|||| aq is ## THE AIDAN WOODCOCK CHARITABLE TRUST ## CHAIRMAN'S REPORT for the year ending 31 May 2024 The Aidan Woodcock Charitable Trust, which operates under the name Maiastra, has continued to provide high quality chamber music courses for talented young music students. | am delighted to report that over the past year Maiastra has arranged 23 public concerts for 31 students. We held four long (residential) courses and four short (non-residential) courses. The residential long courses take place in a beautiful converted barn in the Surrey Hills outside Dorking which provides an ideal space in which to study the chamber music repertoire over a ten-day period under the direction of one of our course directors. The non-residential short courses are aimed at more advanced students who intend to become professional musicians and who are nearing the end of their musical training, so the rehearsal time is reduced to two days before performing two or three public concerts. To summarise Maiastra’s activities over the past four years: ||23/24|22/23|21/22|20/21| |---|---|---|---|---| |Public concerts|23|23|25|COVID| |Students|31|23|35|COVID| |Residential courses|4|4|3|COVID| |Shortcourses|4|4|5|COVID| In addition to works by other composers, over the past five years Maiastra students have studied and performed the 16 Beethoven string quartets in the order in which they were composed. This has been an inspirational journey for both our students and our audiences. In March 2024 we welcomed the Affinity Quartet, a young Australian quartet who are studying in Madrid and are mentored by the respected violist Brett Dean. In 2022 the Quartet became the first Australian string quartet to reach the Finals of London’s Wigmore Hall International String Quartet Competition, winning Third Prize. ## Course directors Each course is directed by a course director of the highest quality. This year our course directors were Arisa Fujita, David Waterman, Akiko Ono and Florence Cooke. Upon these course directors lies the responsibility of achieving and maintaining the results which we and our audiences have come to expect 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. oa ## THE AIDAN WOODCOCK CHARITABLE TRUST ## CHAIRMAN'S REPORT for the year ending 31 May 2024(continued) ## 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, as Marketing and Operations Manager. Laurence Herbert continues to doa 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 Helen Blow, a Maiastra supporter and recently retired teacher, joined the board on 17 June 2024. She has a degree in music and French and is a cellist in the amateur Dorking Philharmonia Orchestra. ## Financial position For the year ending 31 May 2024 the Trust's income increased by 8% to £40,139. Our costs have risen by 25% to £78,036 because of above inflation increases in course and marketing costs. The Trust’s investments have increased by £32,221. ## 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 has developed 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 is in the process of being repaired for the second time 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 Maiastra students and the remaining one has been placed with a Maiastra student on a 36 month hire purchase plan. ## 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 **----- Start of picture text -----**
soTy
Hugh Parry Y
Chairman
24 July 2024
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-3- ## THE AIDAN WOODCOCK CHARITABLE TRUST ## TRUSTEES' REPORT for the year ending 31 May 2024 The trustees present their report and accounts for the year ended 31 May 2024. 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 (pages2 - 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 “a Chairman and trustee 24 July 2024 -4- ## THE AIDAN WOODCOCK CHARITABLE TRUST ## STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MAY 2024 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: - e select suitable accounting policies and then apply them consistently; e observe the methods and principles in the applicable Charities SORP; - ¢ make judgements and estimates that are reasonable and prudent; e 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: **----- Start of picture text -----**
Hugh Parrypn
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-5- ## THE AIDAN WOODCOCK CHARITABLE TRUST ## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES | report on the accounts of the Trust for the year ended 31 May 2024, 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: - e 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 24 July 2024 -6- ## THE AIDAN WOODCOCK CHARITABLE TRUST ## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2024 |||2024|2023| |---|---|---|---| |||£|£| |INCOME|||| |Donations||32,748|30,058| |GiftAid||7,374|6,935| |Interest income||18|10| ||Total income|40,140|37,003| |EXPENDITURE|||| |Course costs||(53,809)|(43,901)| |Grants||(500)|-| |Insurance costs||(1,307)|(1,878)| |Marketing and operations||(21,223)|(15,085)| |Administration||(939)|(1,237)| |Bank charges||(258)|(231)| ||Total expenditure|(78,036)|(62,333)| |Netincome before|gains/(losses) on investments|(37,895)|(25,330)| |Gains and (losses) on investment assets||32,221|7,495| ||Net movement in funds|(5,675)|(17,835)| |RECONCILIATION|OF FUNDS||| |Total funds broughtforward|forward|643,124|660,959| ||Totalfundscarriedforward|637,449|643,124| 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 2024 **----- Start of picture text -----**
2024 2023
Notes £ £ £ £
Fixed assets
Investments 4 330,477 348,256
Instruments 5 279,500 283,700
Total fixed assets 609,977 631,956
Current assets
Debtors 6 8,046 7,154
Cash at bank and in hand 21,987 5,759
Total current assets 30,033 12,913
Liabilities
Creditors: amounts falling due within one year 7 (2,563) (1,746)
Net current assets 27,470 11,167
Net assets 637,447 643,123
The funds of the charity
Unrestricted funds (637,447) (643,123)
Total charity funds 637,447 (643,123)
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Approved by the trustees and signed on their behalf by: Hugh Parry Nese Trustee 24 July 2024 The notes on pages 9 to 11 form part of these financial statements -8- ## THE AIDAN WOODCOCK CHARITABLE TRUST ## Notes to the accounts FOR THE YEAR ENDED 31 MAY 2024 - 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 2024 . **----- Start of picture text -----**
||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |3|Details|of certain|items|of expenditure| |Trustee|expenses| |Reimbursement of out-of-pocket expenses made|to|trustees|for expenses|incurred by trustees.| |2024|2023| |Number of trustees who were|paid|expenses|4|4| |Nature|of the expenses|Course|&|publicity|Course|&|publicity| |costs|costs| |Trustees|reimbursed|5,750|8,983| |Total|amount|paid|5,750|8,983| |4|Investment assets| |£| |Carrying|(market)|value|at|1|June 2023|348,256| |Add:| |purchase|of COIF|units|-| |sale|of COIF|units|(50,000)| |net gain/(loss)|on|revaluation|at year end|32,221| |Carrying|(market)|value|at|31|May 2024|330,477| |Analysis|of investments as|at 31|May 2024| |Market|price|per|Market Value| |unit|at|at| |31|May|2024|Total|units|31|May 2024| |£|£| |COIF|Charities|Investment|Fund|- Accumulation|Units| |A/C|127510001R|251.0650|1,316.29|330,477| |5|Instrument|assets| |2024|2023| |£|£| |Instruments|at cost|or valuation|at|1|June|2023|283,700|301,200| |Instruments|bequested| |Instruments|sold|(4,200)|(17,500)| |Instruments|at cost or valuation|at 31|May 2024|279,500|283,700| |Analysis|of instrument assets|as|at 31|May 2024| |Instruments|bequeathed|to|the|Trust|in|March|2022|and|valued|at|probate|by|J.|&|A.|Beare|Ltd| |Sartory viola|bow|35,000|35,000| |OQuchard|viola|bow|12,000|12,000| |Hans|Carl|Schmidt|viola|bow|-|4,200| |Bowers|viola|2,500|2,500| |Instrument|acquired|in|December|2015| |Goffriller|violin|(at|cost)|230,000|230,000| |Instruments|at cost or valuation|at 31|May 2024|279,500|283,700| **----- End of picture text -----**
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 2024 ## 6 Debtors and prepayments |6|Debtors and prepayments|||| |---|---|---|---|---| ||||Amounts falling due|| ||||within one year|| ||||2024|2023| ||||£|£| ||HMRC GiftAid rebate||4,546|6,935| ||Lease purchase receivableon sale ofbow||3,500|-| ||Prepayments and accrued income||-|219| |||Total|8,046|7,154| |7|Creditors and accruals|||| ||||Amounts falling due|| ||||within one year|| ||||2024|2023| ||||£|£| ||Accruals and deferred income||(2,563)|(1,746)| |||Total|(2,563)|(1,746)| |8|Transactions with related parties|||| ||||2024|2023| |8.1|Remuneration forprofessional fees as|||| ||permitted by the Trust Deed totrustees||£|£| ||Arisa Fujita - as course director of residential|||| ||chambermusic courses||3,000|5,000| |||Total|3,000|5,000| -l1-