Charity registration No. 255004
THE JOHN IRELAND CHARITABLE TRUST
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE JOHN IRELAND CHARITABLE TRUST
CHARITY NO. 255004
Contents
| Page | |
|---|---|
| Legal and administrative details | 1 |
| Trustees’ Report | 2-4 |
| Independent Examiner’s Report | 5 |
| Accounts comprising: | |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8-13 |
THE JOHN IRELAND CHARITABLE TRUST LEGAL AND ADMINISTRATIVE DETAILS
Status Charity registered in England No. 255004 Constitution Trust Deed dated 18[th] January 1968 Trustees Miss Jennifer Brady Mr Martin Sargeson Mr David Wordsworth Director Mr David Wordsworth Registered address 80 Sylvan Road Crystal Palace London SE19 2RZ Independent examiner Samantha Wells FCA, CTA Lindeyer Francis Ferguson Limited North House 198 High Street Tonbridge Kent TN9 1BE Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Investment Managers Evelyn Partners 45 Gresham Street London EC2V 7BG
Page 1
THE JOHN IRELAND CHARITABLE TRUST REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report together with the financial statements of The John Ireland Charitable Trust (the charity) for the year ended 31 March 2025. The Trustees confirm that the report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity’s governing document and the provisions of “Accounting and Reporting by Charities: 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)” (effective 1 January 2019) (Charities SORP (FRS 102)). The Legal and Administrative information on page 1 forms part of this report.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trust was established by a Trust Deed dated 18[th] January 1968. Extracts from the Trust Deed state inter alia that the Trust was founded to promote and advance the art of music generally and in particular the music of the late Dr John Ireland, by the education of the public and by the assistance and education of students of music in such a manner as the Trustees think fit.
The Trustees are also to select from time to time other objectives connected with the art of music, in particular to:
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recover Dr Ireland’s original manuscripts, writings and letters.
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arrange, assist, promote and subsidise publication, performance or recording of all or any of Dr Ireland’s music.
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sponsor John Ireland competitions in colleges and conservatories of music.
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appoint to hold office during the pleasure of the Trustees such agents and servants as shall be necessary and to pay them for their services such reasonable sums as the Trustees may from time to time determine.
The Trustees may hold or apply all and any part of the capital of the Trust for the charitable purposes thereof and may invest or lay out monies, whether capital or income, in the purchase or upon the security of such investments and property of whatsoever nature and wheresoever situated, and the decision of the majority of the Trustees shall be binding upon all of them.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities.
All current trustees are familiar with the practical work of the charity. New trustees are sought out and invited to join the Board after a discussion with the current trustees in which the current trustees are satisfied that the new appointment would be beneficial to the charity. New trustees are briefed on their obligations, the current activities of the charity, the current financial position, and future plans and objectives.
ACHIEVEMENTS AND PERFORMANCE
The assets of the Trust are invested principally in quoted investments managed by Evelyn Partners (formerly Smith & Williamson), which, together with royalty income and donations received, enabled the Trustees to award grants totalling £22,050 (2024: £15,100) as detailed in Note 4 on pages 10 and 11.
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THE JOHN IRELAND CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
The financial results for the year are set out in the attached accounts. They show a deficit of £17,064 (2024: deficit of £3,743). The charity had reserves of £330,013 at 31 March 2025 (2024: £347,077). There are no restricted or endowment funds.
Reserves policy
The Trustees intend to maintain reserves until 2032, at which time copyright on Dr John Ireland’s works will expire. The Trustees plan to award grants to further the Trust’s objectives, and to cover administrative costs until 2032, at which point it is anticipated that the Trust will be wound up.
Risk review and policy
The Trustees minimise investment risk through the use of professional investment advisers, Evelyn Partners (formerly Smith & Williamson), who are managing the Trust’s portfolio on the basis that this remains longer term capital. Following a recent review, a medium level of risk continues to be accepted, and monies are invested across both bonds and equities to try to grow the capital over the medium term and preserve its purchasing power. The portfolio is benchmarked to the industry standard MSCI WMA Income Index.
General operating risk is minimised through the regular review procedures applied by the Trustees to the Trust’s activities.
TRUSTEES AND THEIR INTERESTS
The following served as trustees during the year ended 31[st] March 2025:
Miss Jennifer Brady Mr Martin Sargeson Mr David Wordsworth
Page 3
THE JOHN IRELAND CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees of the John Ireland Charitable Trust on 15[th] December 2025 and signed on their behalf by
Mr David Wordsworth – Trustee
Page 4
THE JOHN IRELAND CHARITABLE TRUST INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
I report to the trustees on my examination of the accounts of The John Ireland Charitable Trust (‘the Charity’) for the year ended 31 March 2025.
Responsibilities and basis of report
As the Charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts 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 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:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.
Samantha Wells FCA CTA Lindeyer Francis Ferguson Limited
North House 198 High Street Tonbridge Kent TN9 1BE
Date: …………….………………………………………. .......
Page 5
The John Ireland Charitable Trust Year ended 31st March 2025 Statement of Financial Activities
| Notes Income from Royalties Investments 2 Total income Expenditure on Charitable activities 3 Investment management Total expenditure Net gains on investments 8 Net expenditure and net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Funds | Unrestricted Funds |
|---|---|---|
| 2025 £ 35,987 6,461 42,448 66,792 1,144 67,936 8,424 (17,064) 347,077 **330,013 ** |
2024 £ 31,062 6,128 |
|
| **37,190 ** | ||
| 57,705 1,141 |
||
| **58,846 ** | ||
| 17,913 | ||
| (3,743) | ||
| 350,820 | ||
| **347,077 ** |
Page 6
The John Ireland Charitable Trust Year ended 31st March 2025 Balance Sheet
| Notes Fixed assets Intangible assets 7 Quoted investments 8 Current assets Debtors 9 Cash at bank and in hand Creditors- amounts falling 10 due within one year Net current assets Net assets Funds Unrestricted funds 12,13 Total funds |
£ £ 1,000 330,250 331,250 239 16,906 17,145 (18,382) (1,237) 330,013 330,013 330,013 2025 |
2024 | 2024 |
|---|---|---|---|
| £ 239 16,906 17,145 (18,382) |
£ 120 51,244 51,364 (14,719) |
£ 2,000 308,432 |
|
| 310,432 36,645 |
|||
| **347,077 ** | |||
| 347,077 | |||
| **347,077 ** |
The financial statements were approved by the Board of Trustees on 15th December 2025 and signed on its behalf by:
......................................
D Wordsworth - Trustee
Page 7
The John Ireland Charitable Trust
Year ended 31st March 2025 Notes to the financial statements
1 Accounting policies
1.1 General Information
The John Ireland Charitable Trust was established by a Trust Deed dated 18th January 1968, and is registered as a charity in England and Wales, number 255004. The registered address is 80 Sylvan Road, Crystal Palace, London SE19 2RZ.
The Trust meets the definition of a public benefit entity under FRS 102 and its principal objective is to promote and advance the art of music generally, and in particular the music of the late Dr John Ireland, by the education of the public and by the assistance and education of students of music in such a manner as the Trustees think fit.
1.2 Basis of preparation
The financial statements have been prepared in accordance with “Accounting and Reporting by Charities: 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)” (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the accounting policy note(s).
The financial statements are presented in pound sterling and rounded to the nearest pound.
1.3 Going Concern
The Trustees are confident that the Charity’s reserves are sufficient to enable operations (including likely grant requests) to continue at a sustainable level for a period of at least 12 months from the date of approval of these financial statements. The Charity therefore continues to adopt the going concern basis in preparing its financial statements.
1.4 Income
All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal offer is made in writing unless the grant contains terms and conditions outside of the charity’s control which must be met before the charity is entitled to the funds.
Income from royalties is recognised when it is received, as only at this point is the income measurable and probable.
Other incoming resources, including investment income are included when receivable.
Page 8
The John Ireland Charitable Trust
Year ended 31st March 2025
Notes to the financial statements (continued)
1.5 Expenditure
Liabilities, and related expenditure, are recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be measured or estimated reliably.
All expenditure is accounted for on an accruals basis.
Charitable expenditure includes those costs incurred by the charity in the delivery of its activities for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them, including governance costs. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.
1.6 Intangible assets
Copyrights are stated at cost less accumulated amortisation and accumulated impairment losses. Copyrights are amortised over their estimated useful life of 19 years on a straight line basis. With copyright expiring in 2032, 70 years after the death of Dr John Ireland, we plan to reduce the written down value of copyrights to zero at December 2026.
1.7 Investments
Listed investments are included in the annual accounts at their market value at the end of the financial year. Realised and unrealised gains and losses are credited or debited to the Statement of Financial Activities in the year in which they arise.
1.8 Financial instruments
The company only has financial instruments which are classified as basic financial instruments. Short term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in the Statement of Financial Activities.
1.9 Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
1.10 Taxation
The charity is exempt from corporation tax on its charitable activities.
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The John Ireland Charitable Trust Year ended 31st March 2025 Notes to the financial statements (continued)
| 2 Income from investments Quoted investments Bank interest 3 Expenditure on charitable activities Donations, sponsorship and grants - Note 4 Competition prizes Competition expenses Director's remuneration Marketing & PR Premises & office costs Amortisation of copyrights Sundry expenses Travel & Subsistence Governance: Accountancy Independent examination 4 Donations, sponsorship, and grants paid Festivals, performances and events Music in Action, Jersey Elgar Festival English Music Festival Espressivo Music Welshpool Music Club Bradfield Festival Rebeca Omordia RPO chamber musicians / Music in City Churches The Gwyn Williams Bursary for Young Viola Players Chamber Ensemble of London The Flavel Arts Centre, Dartmouth Tristan McWhirter Eric McElroy Chu-Yu Yang Mikhail Mishchenko Espressivo Music Madeleine Mitchell Lindow String Ensemble Worcester Concert Club Three Choirs Festival |
2025 £ 6,421 40 6,461 2025 £ 22,050 1,700 2,117 19,284 6,503 2,552 1,000 178 600 8,508 2,300 66,792 2025 £ 6,000 5,000 1,000 1,000 1,000 500 500 500 500 250 250 250 125 125 (1,200) (2,000) - - - - |
2024 £ 6,079 49 |
|---|---|---|
| **6,128 ** | ||
| 2024 £ 15,100 2,500 1,100 18,360 6,083 2,433 1,000 163 116 8,700 2,150 |
||
| **57,705 ** | ||
| 2024 £ - - 3,050 - - - 500 1,200 - 500 - - 350 350 - - 1,500 1,500 1,000 1,000 |
Page 10
The John Ireland Charitable Trust Year ended 31st March 2025
Notes to the financial statements (continued)
| 4 Donations, sponsorship, and grants paid (continued) Musicians of All Saints, Lewes Flavel Arts Centre, Dartmouth Gloucester Music Society Alex Silverman Ludlow Piano Festival University of St Andrew's Darlington Piano Society The Arthur Bliss Society Publications, recordings and commissions NMC Recordings Alexander Baillie & John Thwaites Rebeca Omordia EM Records / Excalibur Voices Berkeley Ensemble Leon Bosch & Rebeca Omordia Philip James Leslie Eric McElroy London Mozart Players Piatti Quartet Total donations, sponsorship, and grants paid 5 Net expenditure Net expenditure is stated after charging: Fees paid to Independent Examiner Depreciation & amortisation - owned assets |
2025 £ - - - - - - - - 13,800 3,000 1,000 1,000 750 500 500 500 500 500 - 8,250 22,050 2025 £ 2,300 1,000 |
2024 £ 800 500 500 500 500 500 250 100 |
|---|---|---|
| **14,600 ** | ||
| - - (500) - - - 500 - - 500 |
||
| **500 ** | ||
| **15,100 ** | ||
| 2024 £ 2,150 1,000 |
6 Staff costs, trustees' remuneration and benefits
Mr David Wordsworth served as Director of the Trust during 2024/25. He was engaged on a freelance basis for an annual fee of £19,284 (2024: £18,360). Permission has been granted by the Charity Commission for this expense. No other fees or remuneration were paid to trustees.
Trustees' expenses
None of the trustees were reimbursed for expenses in the year (2024: nil).
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The John Ireland Charitable Trust
Year ended 31st March 2025
Notes to the financial statements (continued)
| 7 Intangible fixed assets Copyrights At 1st April 2024 Charge for the year At 31st March 2025 At 31st March 2024 8 Listed investments Market value at the beginning of the year Additions Disposals Unrealised gains in the year Realised gains in the year Total net gains in the year Market value at the end of the year 9 Debtors Trade debtors Prepayments and accrued income 10 Creditors: amounts falling due within one year Trade Creditors VAT Grants payable Accrued expenses |
Cost Depreciation 19,000 (17,000) - (1,000) 19,000 (18,000) 2025 £ 308,432 130,554 (117,160) 9,366 (942) 8,424 330,250 2025 £ 239 - 239 2025 £ - 807 15,325 2,250 **18,382 ** |
Net Book Value £ 2,000 (1,000) |
|---|---|---|
| **1,000 ** | ||
| 2,000 | ||
| 2024 £ 336,623 55,296 (101,399) 17,755 158 |
||
| 17,913 | ||
| **308,432 ** | ||
| 2024 £ 120 - |
||
| **120 ** | ||
| 2024 £ 655 1,114 9,600 3,350 |
||
| **14,719 ** |
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The John Ireland Charitable Trust Year ended 31st March 2025
Notes to the financial statements (continued)
11 Related party disclosure
The key management of the charity include the trustees and the Director of the Trust. The aggregate amount of benefits payable for key management was £19,284 (2024: £18,360).
There were no other related party transactions.
| 12 Movement in funds - Current Year 1 Apr 2024 £ Unrestricted Funds General fund 347,077 Total funds 347,077 13 Movement in funds - Prior Year 1 Apr 2023 £ Unrestricted Funds General fund 350,820 Total funds **350,820 ** |
Income £ 42,448 42,448 Income £ 37,190 **37,190 ** |
Expenditure £ (67,936) (67,936) Expenditure £ (58,846) (58,846) |
Net gains on investments £ 8,424 8,424 Net losses on investments £ 17,913 **17,913 ** |
31 Mar 2025 £ 330,013 |
|---|---|---|---|---|
| **330,013 ** | ||||
| 31 Mar 2024 £ 347,077 |
||||
| **347,077 ** |
14 Analysis of net assets between funds
| Intangible assets Investments Current assets |
2025 General funds £ 1,000 330,250 (1,237) **330,013 ** |
2024 General funds £ 2,000 308,432 36,645 |
|---|---|---|
| **347,077 ** |
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