## **Trustees' Annual Report for the period**
||Period start date|Period start date|||Period end date||
|---|---|---|---|---|---|---|
|**From **|01|June|2022|**To**|31
May|2023|
## 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 (ifany)**|
|---|---|---|---|---|
||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
|**Summary of the main**
**activities undertaken for the**
**public benefit in relation to**
**these objects (include within**
**this section the statutory**
**declaration that trustees have**
**had regard to the guidance**
**issued by the Charity**
**Commission on public**
**benefit)**||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 fourth year, the levels of income it
generates and therefore the amount of income we can allocate to
charitable activities is becoming clearer, allowing us more certainty in
planning for the future (see below).
Public engagement activities & Grant-making
We have not held any public engagement or grant-making activities
during this financial year.
Development of future income streams
The Septenary Foundation’s smartphone app, Passaggi (launched Feb
2020) sold 496 copies during the current accounting period (out of a total
reach of 1,866 copies). This income stream is allowing us to plan future
grant-making activities for 2024-2025 and has enabled the production of
further low-cost educational materials to form part of the Septenary
catalogue, due to be released Autumn 2024.
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.
This guidance encourages a wide and inclusive approach to advertising
our grant scheme, when it is operational, and to drawing up eligibility
criteria for grant-making. It also informs our pricing structure (online
store) and informs 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
111 times during the current accounting year.|
|---|---|---|
## **Additional details of objectives and activities (Optional information)**
March **2012**
**TAR**
3
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
**Summary of the main achievements of the charity during the year**
The Septenary Foundation is working to rebuild its portfolio of public engagement work following reduced income and fundraising capacity during the COVID-19 pandemic. We continue to maintain our catalogue of educational and performance materials (free and low-cost items) and to support our educational app, Passaggi.
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 last financial year, plus a further first edition of an important sixteenth century source of viol repertoire during this 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 £3000 to allow for **Brief statement of the** maintenance of the Passaggi app as these costs arise, plus £500 in **charity’s policy on reserves** operational surplus in the event of additional expenses in relation to online sales and website hosting.
**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** 06.08.2024
March **2012**
**TAR**
6
## **The Septenary Foundation**
## **Charity No. 1178218**
## **Trustees' Report and Unaudited Accounts**
**31 May 2023**
**The Septenary Foundation Contents**
||Pages|
|---|---|
|Trustees' Annual Report|2 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Accounts|7 to 11|
|Detailed Statement of Financial Activities|12 to 13|
Page 1
**The Septenary Foundation Trustees Annual Report**
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 May 2023.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Charity No. 1178218**
## **Principal Office**
18 Leaze Road Frome Somerset BA11 3EY
## **Trustees**
The following trustees served during the year:
C. Motuz H. Roberts J. Savan
## **Key Management Personnel**
Chair Helen Roberts Trustee Jamie Savan Trustee Catherine Motuz
## **Accountants**
R. E. Froud & Associates Ltd 61 Robins Lane Frome Somerset BA11 3ET
## **Bankers**
Co-operative Bank 1 Balloon Street Manchester M4 4BE
## **OBJECTIVES AND ACTIVITIES**
The purpose of the charity as set out in its governing document 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 and organisations for the purposes of musical research, education and performance.
The main activities undertaken in relation to those purposes are education and training in arts, culture, heritage and science.
## **Statement of trustees' responsibilities in relation to the financial statements**
Page 2
**The Septenary Foundation Trustees Annual Report**
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 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. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
HRoberts Signed on 04/07/24 @ 21:15
H. Roberts Trustee 03 April 2024
Page 3
**The Septenary Foundation Independent Examiners Report**
## **Independent Examiner's Report to the trustees of The Septenary Foundation**
I report to the trustees on my examination of the financial statements of The Septenary Foundation for the year ended 31 May 2023.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Natalie Froud Signed on 05/07/24 @ 12:07
Natalie Froud ACMA CGMA - Chartered Institute of Management Accountants R. E. Froud & Associates Ltd 61 Robins Lane Frome Somerset
BA11 3ET 03 April 2024
Page 4
**The Septenary Foundation Statement of Financial Activities for the year ended 31 May 2023**
|**Notes**
**Income and endowments**
**from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
**Total**
**Expenditure on:**
Other
5
**Total**
Net gains on investments
**Net expenditure**
6
Transfers between funds
**Net expenditure before other**
**gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**||**Unrestricted**
**funds**|**Total funds**|**Total funds**|
|---|---|---|---|---|
|||**2023**|**2023**|**2022**|
|||**£**|**£**|**£**|
||||||
|||2,482|2,482|-|
|||1,283|1,283|3,013|
|||2,801|2,801|2,184|
|||6,566|6,566|5,197|
||||||
|||7,429|7,429|9,703|
|||7,429|7,429|9,703|
|||-|-|-|
|||(863)|(863)|(4,506)|
|||-|-|-|
|||(863)|(863)|(4,506)|
||||||
|||(863)|(863)|(4,506)|
||||||
|||635|635|5,141|
|||(228)|(228)|635|
||||||
||||||
||||||
Page 5
**The Septenary Foundation Balance Sheet at 31 May 2023**
|**Charity No. 1178218**
**Fixed assets**
Intangible assets
8
**Current assets**
Debtors
9
Cash at bank and in hand
**Creditors:**Amount falling due within one year
10
**Net current liabilities**
**Total assets less current liabilities**
**Net (liabilities)/assets excluding pension asset or liability**
**Total net (liabilities)/assets**
**The funds of the charity**
**Restricted funds**
11
**Unrestricted funds**
11
General funds
**Reserves**
11
**Total funds**
Approved by the trustees on 03 April 2024
And signed on their behalf by:|**2023**
**£**
-
-
328
11,494
11,822
(12,050)
(228)
(228)
(228)
(228)
(228)
(228)
(228)|**2022**
**£**
4,087|
|---|---|---|
|||4,087
197
8,004|
|||8,201
(11,653)|
|||(3,452)
635|
|||635|
|||635|
|||635|
|||635|
|||635|
||||
HRoberts Signed on 04/07/24 @ 21:15
H. Roberts Trustee 03 April 2024
Page 6
**The Septenary Foundation Notes to the Accounts**
## **for the year ended 31 May 2023**
- 1 **Accounting policies**
## **Basis of preparation**
The financial statements have been prepared in accordance with 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 if 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.
## **Change in basis of accounting or to previous accounts**
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
## **Income**
|**Income**||
|---|---|
|Recognition of|Income is included in the Statement of Financial Activities (SoFA) when the charity|
|income|becomes entitled to, and virtually certain to receive, the income and the amount of|
||the income can be measured with sufficient reliability.|
|Income with related|Where income has related expenditure the income and related expenditure is|
|expenditure|reported gross in the SoFA.|
|Donations and|Voluntary income received by way of grants, donations and gifts is included in the|
|legacies|the SoFA when receivable and only when the Charity has unconditional entitlement|
||to the income.|
|Tax reclaims on|Income from tax reclaims is included in the SoFA at the same time as the|
|donations and gifts|gift/donation to which it relates.|
|Donated services|These are only included in income (with an equivalent amount in expenditure)|
|and facilities|where the benefit to the Charity is reasonably quantifiable, measurable and|
||material.|
|Volunteer help|The value of any volunteer help received is not included in the accounts.|
|Investment income|This is included in the accounts when receivable.|
|Gains/(losses) on|This includes any gain or loss resulting from revaluing investments to market value|
|revaluation of fixed|at the end of the year.|
|assets||
|Gains/(losses) on|This includes any gain or loss on the sale of investments.|
|investment assets||
Page 7
**The Septenary Foundation Notes to the Accounts**
## **Expenditure**
- Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
- Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
- Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
- Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
- Other expenditure These are support costs not allocated to a particular activity.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Intangible fixed assets and amortisation**
Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.
App Development 25% Straight line
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Research and development**
Expenditure on research and development is written off in the year in which it is incurred.
Page 8
**The Septenary Foundation Notes to the Accounts**
## **Foreign currencies**
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
## **Receipt of donated goods, facilities and services**
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
## 2 **Income from donations and legacies**
|Donations
3
**Income from charitable activities**
Charitable activities
4
**Income from other trading activities**
Sales
5
**Other expenditure**
Commissions payable
Purchases
Advertising and PR
Grants paid
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs|**Unrestricted**
**£**
2,482
2,482
**Unrestricted**
**£**
1,283
1,283
**Unrestricted**
**£**
2,801
2,801
**Unrestricted**
**£**
866
722
-
-
4,088
1,450
303
7,429|**Total**
**2023**
**£**
2,482
2,482
**Total**
**2023**
**£**
1,283
1,283
**Total**
**2023**
**£**
2,801
2,801
**Total**
**2023**
**£**
866
722
-
-
4,088
1,450
303
7,429|**Total**
**2022**
**£**
3,013|
|---|---|---|---|
||||3,013|
||||**Total**
**2022**
**£**
2,184|
||||2,184|
||||**Total**
**2022**
**£**
1,231
96
377
156
5,450
2,038
355|
||||9,703|
Page 9
**The Septenary Foundation Notes to the Accounts**
|6
**Net expenditure before transfers**
This is stated after charging:
Amortisation of intangible fixed assets
Independent Examiner's fee
7
**Staff costs**
No employee received emoluments in excess of £60,000.
8
**Intangible fixed assets**
**Cost**
At 1 June 2022
At 31 May 2023
**Amortisation and**
**impairment**
At 1 June 2022
Amortisation charge for the
year
At 31 May 2023
**Net book values**
At 31 May 2023
At 31 May 2022
App Development costs|**2023**
**£**
4,088
360|**Develop-me**
**nt costs**
**£**
21,800
21,800
17,713
4,087
21,800
-
4,087|**2022**
**£**
5,450
360
**Total**
**£**
21,800|
|---|---|---|---|
||||21,800|
||||17,713
4,087|
||||21,800|
||||-|
||||4,087|
|||||
|||||
|||||
|9
**Debtors**
Trade debtors
10 **Creditors:**
amounts falling due within one year
Trade creditors
Other taxes and social security
Loans from trustees
Accruals|**2023**
**£**
328
328
**2023**
**£**
313
-
11,377||**2022**
**£**
197|
||||197|
||||**2022**
**£**
-
(54)
11,347|
||360||360|
||12,050||11,653|
Page 10
**The Septenary Foundation Notes to the Accounts**
## 11 **Movement in funds**
|**Restricted funds:**
**Unrestricted funds:**
**General funds**
**Total funds**
12 **Analysis of net assets between funds**
Net current assets
13 **Reconciliation of net debt**
Cash and cash equivalents
Net debt|**At 1 June**
**2022**
635
635|**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
6,566
6,566
**At 1 June**
**2022**
**£**|**Resources**
**expended**
**£**
(7,429)
(7,429)
**Unrestricted**
**funds**
**£**
(228)
(228)
**Cash flows**
**£**|**At 31 May**
**2023**
**£**
(228)|
|---|---|---|---|---|
|||||(228)|
|||||**Total**
**£**
(228)|
|||||(228)|
|||||**At 31 May**
**2023**
**£**|
|||8,004|3,490|11,494|
|||8,004
8,004|3,490
3,490|11,494|
|||||11,494|
||||||
Page 11
**The Septenary Foundation Detailed Statement of Financial Activities**
## **for the year ended 31 May 2023**
|**Income and endowments from:**
Donations and legacies
Donations
Charitable activities
Charitable activities
Other trading activities
Sales
**Total income and endowments**
**Expenditure on:**
Other expenditure
Commissions payable
Purchases
Advertising and PR
Grants paid
General administrative costs,
including depreciation and
amortisation
Amortisation
Bank charges
General insurances
Postage and couriers
Software, IT support and related
costs
Stationery and printing
Legal and professional costs
Audit/Independent examination
fees
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net expenditure**|**Unrestricted**
**funds**
**2023**
**£**
2,482
2,482
1,283
1,283
2,801
2,801
6,566
866
722
-
-
1,588
4,088
14
-
373
522
541
5,538
303
303
7,429
7,429
-
(863)|**Total funds**
**2023**
**£**
2,482
2,482
1,283
1,283
2,801
2,801
6,566
866
722
-
-
1,588
4,088
14
-
373
522
541
5,538
303
303
7,429
7,429
-
(863)|**Total funds**
**2022**
**£**
-|
|---|---|---|---|
||||-|
||||3,013|
||||3,013|
||||2,184|
||||2,184|
||||5,197
1,231
96
377
156|
||||1,860|
||||5,450
12
101
547
591
787|
||||7,488|
||||355|
||||355|
|||||
||||9,703|
||||9,703
-|
||||(4,506)|
Page 12
**The Septenary Foundation Detailed Statement of Financial Activities**
|**The Septenary Foundation**
**Detailed Statement of Financial Activities**||||
|---|---|---|---|
|**Net expenditure before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|(863)
-
(863)
635
(228)|(863)
-
(863)
635
(228)|(4,506)
-|
||||(4,506)|
||||5,141|
||||635|
Page 13