2022-05-31-accounts - The Septenary Foundation

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Trustees' Annual Report for the period

	Period start date	Period start date			Period end date
From	01	June	2021	To	31 May	2022

Section A Reference and administration details

The Septenary Foundation

Charity name The Septenary Foundation Other names charity is known by Registered charity number (if any) 1178218 Charity's principal address 18 Leaze Road Frome Somerset Postcode BA11 3EY

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Helen Roberts	Treasurer
Catherine Motuz	Secretary
Jamie Savan	Chair

















Names of the trustees for the charity, if any, (for example, any custodian trustees)
Name		Dates acted if not for whole year

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Names and addresses of advisers (Optional information)

Type of adviser Name Address

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document

Constitution

(eg. trust deed, constitution)

Charitable Incorporated Organisation How the charity is constituted

(eg. trust, association, company)

Trustees are appointed by the managing trustees named above Trustee selection methods

(eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational structure and any wider network with which the charity works;
relationship with any related parties;
trustees’ consideration of major risks and the system and procedures to manage them.

Section C Objectives and activities

To advance public education in, and appreciation of, the art and science of historically informed musical performance by providing a public-facing platform for research in this field and the provision of grants to individuals Summary of the objects of the and organisations for the purposes of musical research, education and charity set out in its performance. governing document

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Fundraising to support musicians The Septenary Foundation continues to raise funds to support musicians working in the field of historically informed performance to bring their work into the public domain, increasing public understanding of and appreciation for historical music. Proceeds of sales of music through our website continue to suffer following Britain's departure from the EU, although new ordering systems now in place will hopefully mitigate some of these effects in the future. Sales of our app have been healthy, allowing us to set aside a maintenance fund for this income stream going forward. Now the app is in its third year, the levels of income it generates and therefore the amount of income we can allocate to charitable activities has become clearer, allowing us more certainty in planning for the future (see below) Public engagement activities Public engagement activities have been on hold this financial year whilst uncertainty around our income streams remained unresolved. Grant-making

With the partial return of academic conferences in 2021, The Septenary Foundation provided 4 online presentation grants to freelance musicians Summary of the main presenting virtually at the Medieval and Renaissance Music Conference activities undertaken for the in Lisbon in June 2021. public benefit in relation to these objects (include within Development of future income streams this section the statutory declaration that trustees have The Septenary Foundation’s smartphone app, Passaggi (launched Feb had regard to the guidance 2020) sold 260 copies during the current accounting period (out of a total issued by the Charity reach of 1,370 copies). As well as growing into an income stream for the Commission on public Foundation, the app has generated considerable interest in our work in benefit) general, leading to us securing a generous private donation during the 2021-22 accounting period. This money has benefitted three freelance musicians who have worked to develop content for the app and has enabled the production of further low-cost educational materials to form part of the Septenary catalogue, due to be released Spring 2023. In accordance with Section 17(5) of the Charities Act and the Charities (Accounts and Reports) Regulations 2008, the charity trustees have read and considered the Charity Commission’s guidance on public benefit. In particular, this guidance encourages a wide and inclusive approach to advertising our grant scheme and to drawing up eligibility criteria for grant-making. It also informs our pricing structure (online store) and informed our decision to continue offering free educational content through our catalogue. Our two free PDF educational publications (in pamphlet and classroom poster format) were downloaded 117 times during the current accounting year.

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Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

policy on grantmaking;
policy programme related investment;
contribution made by volunteers.

Section D Achievements and performance

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Section D Achievements and performance

The Septenary Foundation is working to rebuild its portfolio of public Summary of the main engagement work following reduced income and fundraising capacity achievements of the charity during the COVID-19 pandemic. We continue to maintain our catalogue during the year of educational and performance materials (free and low-cost items) and to support our educational app, Passaggi.

It is our intention to repeat the highly successful Public Research Seminar held in 2020 with a further free online symposium in the next financial year, but it was felt that investing this money in a time of uncertainty would be unwise. At the time of writing, the Foundation will be in a position to support this activity in 2022-23.

The Foundation continues to provide free editorial support and advice for musicians working in historical performance to enable them to bring their work into the public domain. The trustees supported a major publication on the history and practice of violone playing during the current financial year, enabling the global circulation of the research and editorial work of a freelance performer. Again, these activities contributed to the growing reputation of The Septenary Foundation as a partner in furthering the public understanding of historical music.

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Section E Financial review

The Septenary Foundation aims to keep a reserve of £500 for Brief statement of the unexpected operational costs, as no staff are employed and no property charity’s policy on reserves owned by the Foundation.

Details of any funds materially in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;
investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Catherine Motuz Full name(s) Helen Roberts Position (eg Secretary, Chair, Treasurer Secretary etc) Date 27.03.2023

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Charity no: 1178218

THE SEPTENARY FOUNDATION

18 Leaze Road Frome Somerset BA11 3EY

UNAUDITED FINANCIAL STATEMENTS

31st May 2022

R. E. Froud & Associates Ltd

Chartered Management Accountants

Registered Office address: 61 Robins Lane, Frome, Somerset, BA11 3ET. Company registration no: 07716347

THE SEPTENARY FOUNDATION

Trustees C Motuz H Roberts J Savan Registered Office 18 Leaze Road Frome Somerset BA11 3EY Bankers Co-operative Bank 1 Balloon Street Manchester M4 4BE Examiner R. E. Froud & Associates Ltd 61 Robins Lane Frome Somerset BA11 3ET Registered Charity Number 1178218

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THE SEPTENARY FOUNDATION

ACCOUNTANT'S REPORT TO THE DIRECTORS ON THE UNAUDITED FINANCIAL STATEMENTS OF THE SEPTENARY FOUNDATION

I report on the financial statements for the year ended 31 May 2022, which comprise the statement of financial activities (including income and expenditure account), statement of financial position, and the related notes.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 and that an independent examination is needed. I am qualified to undertake the examination by being a qualified member of the Chartered Institute of Management Accountants (CIMA).

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination. 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)(b) of the 2011 Act; and
to state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the 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 presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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 next statement.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 386 of the Companies Act 2006, and
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

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.

Natalie Froud

………………………………………………………Signed on 24/03/23 @ 19:40 Natalie Froud BMus MA ACMA CGMA FFA FIPA FISM MSWW. Independent Examiner

on behalf of R. E. Froud & Associates Ltd 61 Robins Lane Frome Somerset BA11 3ET

Date:- 28th March 2022

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THE SEPTENARY FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2022

INCOME AND EXPENDITURE Unrestricted funds £ Income Note Donations and legacies 2 - Charitable activities 3 3,013 Other trading activities 4 2,184 Other income - Total income 5,197 Expenditure Expenditure on charitable activities (9,703) Expenditures on other activities - Total expenditure (9,703) Net gains/(losses) on investments - Net income and net movement in funds (4,506) Reconciliation of funds Total funds brought forward 5,140 Total funds carried forward 635	Restricted funds £ - - - - - - - - - - - - 2022	Total funds £ - 3,013 2,184 - 5,197 (9,703) - (9,703) - (4,506) 5,140 635	2021 Total funds £ 3,410 3,007 4,299 -
			10,717
			(12,569) -
			(12,569)
			-
			(1,852)
			6,993
			5,140

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

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THE SEPTENARY FOUNDATION

STATEMENT OF FINANCIAL POSITION AS AT 31ST MAY 2022

	Notes		2022		2021
		£	£	£	£
FIXED ASSETS
Tangible Assets	5		4,088		9,538
CURRENT ASSETS
Debtors		197		454
Cash at bank and in hand		8,004		6,856
			8,201		7,310
CREDITORS:Amounts falling due within one year	6		(11,654)		(11,707)
NET CURRENT ASSETS			(3,453)		(4,397)
NET ASSETS			635		5,140
FUNDS OF THE CHARITY
Restricted funds	7		-		-
Unrestricted funds	7		635		5,140
TOTAL CHARITY FUNDS			635		5,140

For the year ended 31 May 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Trustees' responsibilities:

The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting recprds and the preparation of accounts.

These financial statements were approved by the members of the committee and authorised for issue on the 21st March 2023 and are signed on their behalf by:

H Roberts Signed on 24/03/23 @ 18:13

………………………………………………………

H Roberts

Charity registration number: 1178218

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THE SEPTENARY FOUNDATION

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

Basis of accounting

These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

Incoming resources

Grant income is recognised in the period specified by the donor. Other grants and donations received are recognised as voluntary income.

Resources expended

Resources expended are recognised in the period they are incurred and include any attributable VAT which cannot be recovered.

Funds

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor.

Cash Flow Statement

The company has opted not to prepare a Cash Flow Statement for the period.

2. DONATIONS AND GRANTS Donations General donations 3. CHARITABLE ACTIVITIES General Fundraising 4. OTHER TRADING ACTIVITIES Income from App sales	Unrestricted funds £ - - Unrestricted funds £ 3,013 3,013 Unrestricted funds £ 2,184 2,184	Restricted funds £ - - Restricted funds £ - - Restricted funds £ - - 2022 2022 2022	Total funds £ - - Total funds £ 3,013 3,013 Total funds £ 2,184 2,184	2021 Total funds £ 3,410
				3,410
				2021 Total funds £ 3,007
				3,007
				2021 Total funds £ 4,299
				4,299

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THE SEPTENARY FOUNDATION

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2022

NOTES TO THE FINANCIAL STATEMENTS - cont'd

5. COST As at 1 June 2021 Additions As at 31 May 2022 DEPRECIATION As at 1 June 2021 Charge for the year As at 31 May 2022 NET BOOK VALUE As at 31 May 2022 As at 31 May 2021 6. Accruals Loans Other creditors 7. Restricted funds Total funds Unrestricted funds	At 1 June 2021 5,140 - 5,140	Income 5,197 - 5,197	App Developmen 21,800 - 21,800 12,263 5,450 17,713 4,088 9,538 2022 £ 360 11,347 54 - 11,654 Expenditure (9,703) - (9,703)	Total 21,800 -
				21,800
				12,263 5,450
				17,713

				4,088

				9,538
				2021 £ 360 11,347 -
				11,707 At 31 May 2022 635 -
				635

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THE SEPTENARY FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2022

DETAILED INCOME AND EXPENDITURE ACCOUNT

INCOME - Unrestricted Donations Charitable activities Trading activities EXPENDITURE - Unrestricted Accounts Advertising Bank charges Commissions payable Depreciation E-commerce costs Grants paid Currency exchange differences Rent Insurance Postage Purchases Staff/editor costs Stationery Sundry OPERATING SURPLUS/(DEFICIT) FOR THE YEAR	2022 £ - 3,013 2,184 5,197 355 377 12 1,231 5,450 591 156 - - 101 547 96 - 787 - 9,703 (4,506)	2021 £ 3,410 3,007 4,299
		10,717
		415 852 8 106 5,450 - 26 17 - 50 101 279 0 4,325 963 11
		12,569

		(1,852)

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