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||||||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)|
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||||||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|
##
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||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|
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|||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|
##
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|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|
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