## **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** |1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (if any)**| |---|---|---|---|---| ||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**|| |||||| |||||| |||||| March **2012** **TAR** 1 ## **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** March **2012** **TAR** 2 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. March **2012** **TAR** 3 **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 March **2012** **TAR** 4 ## 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. March **2012** **TAR** 5 ## **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 March **2012** **TAR** 6 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 _Page 1_ **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 _Page 3_ **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. _Page 4_ **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 _Page 5_ **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| _Page 6_ **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| _Page 7_ **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)| _Page 8_