TRUSTEES. ANNUAL REPORT AND ACCOUNTS FRANCIS ROUTH TRUST Th6 Foncis Routh Tnjst wisteAed as a chanty by the Chanty Commission on 17th March 2023. Its Oblt Is the promobon of 8riknsh Mu&c and taKes Its lead from tha Redcliffe Concerts of British Music, a r&Jistered chanty, which was estat4ished in 1964 as a concert kyomotion society for the works of British comFKJsers. With tho d8ath of Francis Routh, the foundw of the charity and rts first chaiman. in November 2021. th8 TnJst8ts of the Redcliffa Concerts took the OPFQrtunity to reas88ss the dItIOn that the charity should tak8. Following th8 advice of th8 Chanty Commission. this has involv& establishing this new charitable entity. the Francis Routh Trust. as a Charitabl InCOrratj Organisation. progrossivdy transl8fTing th8 assels of the R&liffe Concerts of Bntish MUK to this new chanty. The inaugural Truste88 of Trust are: Simon Routh (Chair) William Howard RuP8rt Ridgewell Rob8rt Summ8rs Freya Waley-coh Foiiowng the legacy that was left to thè charity ty Francis Flouth, the Tfust88s d8CitYed to evolve th8 chanty to a grant g5ving and the work ol this first year has te8n focused on giving efft to this Intent. A website (f[aLK was estat4ished and the first tranche of grant funding was open•J to applications in May 2023. In all. 55 applications war8 reiv&J. of which 13 ww8 allocated funding In Septembw 2023 amounting to a total of £9,¥20. 2023 was. thèr8for8. a y8ar of transition, with som8 expditUre still g)ing through the bank account of the Redcliff8 Concèrts of Bntish Music. Tho Trustees anticipate that this process will be compietea In 2024, at which Point ali rdatwj assets, revenue and 8xpon¢tture will be handled by the Trust.
FRANCIS RoirrH TFIUST IR•giStsr•d Charrty No 12LW811 RECEIPTS AND PAYMENTS ACCOUNTS 1st JafKWry 2023 to 31st December 2Q3 RECEIPTS Notes Charles Stanley Divioenas r*)nations Give As You Live Royalties CD Salés Music Sales R•tslpts S.TOl 13,117 61 13,178 EXPENSES Dir8Ct Expensos Grants rid Audit & Accounta CS Managernt Fee Bank F86S Website hosting Pnnting ExpT88 Su&Totsl Net of ReCeIp(paYMents) £6,673 Cash Funds 17th March 2023 £0 Cash Funds This Year ErKI £6,673 STATEMENT OF ASSETS AND LIABILMES AT 31st DECEM8ER 2023 Notes Cash Funds Nat West Account 6.673 Inv851ment Assets Charlés Stanlty Portlollo 525.739 Assets Retained for own uso CDS 'brary of musc 10,000 Liatrj'litlss Nll TOTAL NET ASSETS £545.912
Notos: Most royalty yrrlS were made to the Rliffe Concwts of British Music in 2023. In the future they will bo pwd to th8 Frands Routh Trust. The Accountancy FOyMets have ba ¥)lit 50.50 with the AlIffe Concerts ol British Music. sile hosting costs have b88n apportion&Y wth th• R&lrffe Concerts of 8rrtish Musc. Taking account of £1,920 restricted funds hald by Ihe Raliffe Concats of 8nth Music. £5.480 of th8 cash available al 31 st Dernber is allocat&l to granl86s and thu8 r8Stnctea funds. Th8 balanco of £1,193 18 unrostnct8d funds. EstimateAI cost rmce of mLfycal assets transferred from the Fledcliffe Concért8 of British Mu&c. SIgnj on behalf of th8 Trust80s .......