HINRICHSEN FOUNDATION Charitable Incorporated Organisation
REPORT AND FINANCIAL STATEMENTS
FOR THE TWELVE MONTHS ENDED
31[st] December 2020
Registered Charity Number: 1171401
HINRICHSEN FOUNDATION CHARITABLE INCORPORATED ORGANISATION
REPORT AND FINANCIAL STATEMENTS
PERIOD TO 31 DECEMBER 2020
| CONTENTS | Page |
|---|---|
| Reference and administrative details | 1 |
| Trustees’ report | 2 – 3 |
| Balance sheet | 3 |
HINRICHSEN FOUNDATION CHARITABLE INCORPORATED ORGANISATION
REFERENCE AND ADMINISTRATION
PERIOD TO 31 DECEMBER 2020
The Hinrichsen Foundation CIO (“The CIO”) is a registered charity and is established as a Charitable Incorporated Organisation, registered with the Charity Commission in England and Wales.
The principal objectives of the Trust are set out on page 2.
REGISTERED NAME
Hinrichsen Foundation CIO
TRUSTEES Timothy Berg Mark Bromley Tabby Estell Eleanor Gussman Dr Linda Hirst Ed McKeon Professor Stephen Walsh SECRETARY Lesley Adamson REGISTERED OFFICE 2 – 6 Baches Street London N1 6DN REGISTERED CHARITY 1171401 NUMBER
1
HINRICHSEN FOUNDATION CHARITABLE INCORPORATED ORGANISATION
TRUSTEES REPORT
PERIOD TO 31 DECEMBER 2020
The Trustees have pleasure in presenting their report for the period from 1[st] January to 31[st] December 2020
Structure, governance and management
The CIO is governed by its document of incorporation approved on 31[st] January 2017.
Future developments
The CIO was established to receive the assets and ongoing obligations of the Hinrichsen Foundation, a charity registered with the Charity Commission of England and Wales with a Charity Number of 272389. The interests of that Charity in the Peters Edition group of companies are established through a partnership agreement.
The CIO is currently taking professional advice in relation to the transfer to it of assets currently owned by the Hinrichsen Foundation. Given the current situation the Trustees anticipate that the CIO will become operational in the first quarter of 2022.
Public benefit and charitable objects
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
The objects of the CIO are:
-
The advancement of the education, and the improvement of the appreciation, of members of the general public by the promotion of the composition, performance and recording of music; and
-
The relief of musicians and employees and ex-employees of music publishing entities and their widows, widowers and children, who are in need, hardship or distress
These objects are consistent with those of the current Hinrichsen Foundation.
Current Year
During the period ended 31[st] December 2020 no transfer was made to the CIO and, consequently, the CIO was dormant through the year. It is expected for the reasons set out above that the CIO will remain dormant during 2021 and commence charitable activity in 2022.
In addition Professor Keith Potter stood down as a Trustee of both the CIO and of the Hinrichsen Foundation in January 2021. We would like to thank Keith for his contribution to the Charity over many years.
Statement of the Trustees’ responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Accounting standards require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the incoming resources and application of resources, including the income and expenditure, of the CIO for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
2
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 CIO will continue in business.
3
HINRICHSEN FOUNDATION CHARITABLE INCORPORATED ORGANISATION
TRUSTEES REPORT
PERIOD TO 31 DECEMBER 2020
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the CIO and to enable them to ensure that the financial statements comply with accounting standards and the Charities Act. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
By order of the Trustees
T Berg, Chairman Date: 26th October 2021
BALANCE SHEET
31 DECEMBER 2020
During the period since incorporation on 31[st] January 2017 until the balance sheet date, the CIO had made no transactions, held no assets, and had not incurred liabilities. Hence its balance sheet as at 31[st] December 2020 is as follows:
| Current Assets Net assets Capital |
2020 £ Nil Nil Nil Nil |
20 19 £ Nil |
|---|---|---|
| Nil | ||
| Nil | ||
| Nil |
Approved by the Board on 26[th] October 2021 and signed on their behalf by:
Tim Berg, Chairman
4