2023-03-31-accounts

					Page
Administrative	Information		and Trustees'	Report	1-3
Statement of	Financial	Activities
Balance Sheet
Statement of	Cash Flows
Notes					7 —10
Independent	Auditor's	Report			11-13

Administrative	Administrative	Information	Information
Principal Office &			Administrator:	Ms Jo White
				47 Olive Road
				London
				NW2 6UE
Bankers:				CAF Bank Ltd
				25 Kings Hill Avenue
				Kings Hill, West Mailing
				Kent ME194JQ
Investment	Advisers:			Cazenove Capital Management
				I Wall Place
				London
				EC2YSAU
				Rathbones Investment	Management
				8Finsbury Circus,
				London
				EC2M 7AZ
Independent		Auditors:		Couch Bright King &	Co
				2 Tolherst Court, Turkey Mill Business Park
				Ashford Road
				Maidstone, Kent
				ME14 SSF
Registered	Charity		No.	1191904
Trustees:
The Trustees	during		the period and to date were:	Peter William Richard	Beare
				Andrew John Sindall
				Norman Harold Starritt (Retired 9'" February 2023)
				David Allen Woodrow	Waterman
				Lesley Clare Hatfield
				John Spencer McCuin Julian Robert Milford	(Appointed 9"February 2023)

					Period ended
				2023	31.03.2022
			Note	Total	Total
				Unrestricted	Unrestricted
				Funds	Funds
				g
Income
Investment Income				516,082	446,289
Total Income				516,082	446,289
Expenditure
Grants Payable				193,325	171,600
Support Costs				53,579	46,636
Total Expenditmu				246,904	218,236
Net income before investment		gains/(losses)		269,178	228,053
Loss on disposal	ofmusical instruments		7		(39,305)
Net (losses)/gains	on investments		6	(1,073,953)	182,815
Net Movement	in Funds			(804,775)	371,563
Balance brought	forward			14,716,253
Transferred 23.11.2020					14,344,690
Balance carried	forward at 31"March 2023			6 13,911,478	L 14,716,253

			TH	K ALBE	RT AND	KUGE	NIK FROST	MUSIC TRUST	CIO
				B	CK	K	SAT 31sr	MARC11 2023
									Period ended
					Note			2023	31.03.2022
Fixed Assets
Investments								13,912,999	14,719,458
								13,912,999	14,719,458
Current Assets
Cash at Bank							1,659		785
							1,659		785
Creditors: Amounts		falling due		within one year
Creditors					9		(3,180)		(3,990)
Net Current	(Liabilities)		/ Assets					(1,521)	(3,205)
Total Net Assets								8 13,911,478	8 14,716,253
Charity Funds
Unrestricted	Funds							13,911,478	14,716,253
Total Charity	Funds							813,911,478	8 14,716,253

	Note	2023	2022
Cash flows from operating activities
Net movements in funds for the year		(804,775)	371,563
		(804,775)	371,563
Moventents in working capital
(Gains)/losses on investments		1,073,953	(182,815)
Loss on musical instruments			39,305
Dividends and interest from investments		(516,082)	(446,289)
Decrease/(Increase) in Debtors
(Decrease)/Increase in Creditors		(810)	(1,208)
Net cash generated by operating activities		(247,714)	(219,444)
Cash flows from investing activities:
Dividends and interest from investments		516,082	446,289
Proceeds from sale ofmusical instruments			10,728,566
Proceeds from sale ofinvestments		4,695,369	23,197
Purchase ofinvestments		(4,951,735)	(10,618,072)
Cash used in investing activities		259,716	579,980
Increase in cash and cash equivalents		12,002	360,536
Cash and cash equivalents at beginning ofthe year		410,980	50,444
Cash and cash equivalents at the end ofthe year	8	422,982	410,980

		F	ORTHE	Y	EAR ENDED 31svM	ARCH 2023
							Period ended
						2023	31..03.2022
	Grants Payable
	Chamber Studio					20,000	17,000
	Chetham's School ofMusic					7,000	6,000
	East Neuk Festival						1,500
	Foundation for Young Musicians					5,000	5,600
	Future Talent					7,500	6,000
	The Guildhall School Trust					20,800	20,800
	The Glasgow Barons					9,500
	IMS Prussia Cove (Amscordi Ltd)					20,000	26,900
	London Music Fund					1,000
	Magdalen Farm Strings					3,500	4,100
	Making Music, Changing		Lives			7,000	5,000
	Music Masters Ltd					6,000
	MusicMOB					2,000
	Music in Secondary Schools Trust					6,000
	Music Works					7,000	14,000
	Orchesna ofthe Age of	Enlightenment				5,000
	Poole Society for Young	Musicians				6,000
	Purcel1 School						6,000
	Royal Academy ofMusic					20,000	20,000
	Royal Northern College	ofMusic				20,000	24,000
	The Stringcredibles					4,750
	The Tunnell Trust for Young Musicians					4,000	5,500
	Wells Cathedral School					5,275	4,200
	Whittington Music Festival					6,000
	Yehudi Menuhin School						5,000
						193,325	171,600
	Management and Administration			of	the Charity
	Legal Fees					3,600	5,100
	Audit Fees					3,180	3,000
	Investment Management	Fees				42,582	35,677
	Insurance (refund)						(198)
	Administration Fee					3,935	2,540
	Information Commissioner		Registration		Fee	35	35
	Sundry Expenses					247	482
						53,579	46,636
4.	Investment Income
	Interest received					8,908	58
	Unit Trust distributions	received				506,394	446,231
	Dividends received					780
						516,082	446,289

trustees tot	alling 8175(2022:Nil) were paid to one Trustee by t	he Charity.
			Period ended
		2023	31.03.2022
		g
Investments listed on a recognised Stock Exchange
Market Value at start ofperiod		14,719,458	3,531,373
Movement	in the period	(153,829)	10,618,072
(Decrease)	/ Increase in market value	(1,073,953)	182,815
Market value at 31"March		13,491,676	14,332,260
Cazenove	Investment Income Account	268,833	387,198
Rathbones	Capital dt Income Accounts	152,490
Total Investments		13,912,999	14,719,458

Musical Instruments
Value at start ofperiod	10,768,071
Disposal proceeds	(10,728,566)
Loss on disposal	(39,305)
Market value at 31s March

Trust whic f39,305.	h included the violin, cases and cover were s	h included the violin, cases and cover were s	h included the violin, cases and cover were s	old resulting in a small loss to	talling
Cash and	cash equivalents
Cash at Bank
CAF Bank				1,659	785
/nvestrnents
Cazenove	Investment		Income Account	268,833	410,195
Rathbones	Capital 8t Income Accounts			152,490
				422,982	410,980
Creditors
Couch Bright		King 6t	Co —Audit fees	3,180	3,000
Administrator		Fees k,	Expenses		990
				3,180	3,990