REWTERED COMPANY NUMBER: 01147282 Fngland •nd Wthlesl REGISTEREO CHARITf NUMBER: X6849 Rgport of th• Trustee• and Fknanclal Stst•m¢ntsforth• Y•arEnded 31¥1 Doc•mlMr2024 for Th• El9 Foundatlon Th8 Rkhard8 S8ndy Parthetshlp Thomdoe House 25 88rfwJme Road Wor¢•stsrsh*8 WR1 1RU
Tho Elgar Foun+aa¢lon Contsnts ofth• Flnanclal sta¢wnts forth• Y•ar End•d 31st D•¢emb•r 2024 Pag• R•port ofthe Twust•Bs 1 b) 3 Independent Exam13 R•port Ststsrn•nt of Flnan¢lal Aetlvttl Balan Sheet Not•8 to th• Flnanclal Statsm•nts 7 to 14
Th• Elgar FouThJatkn IRogisi•rnd number. 011472821 Report gf th• Trust8#S forts Yo•rEnded 31st D8mber2024 The trwt••s who aro also dIreCr5 of th8 d)aty for the purposes of the Cotrpanies Ad 20C6. Prnt Ihelr rewt the finandal statements of the th4rfty for 1h8 year ended 31st Dgc8mb8r 2024. Thg InJ5t88s have adopted the prow5ions Lff Ace(JntJng and RgFvbng by Charities: Statement of Reeormiended Pra(ce appbtsble to tharfties preparing thglr acwjnts in attcffdance 1h tho Finanoal Reporfn9 Standard applcthe in thg UK and Rewtlic rf Ireland IFRS 102118ffectNe 1 Janry2019l. The Elgar Foundation. whl¢h w Incoyporated In 1973 a$ a comnY Ilmtsd by guarantsè without a ih¥o eAV'tal (company number 011472821 is also a raglstered charity Irknrfy no. 2668491. In aCrdan vAth Sedon 61 of Ihg ompanles Acl 2(. the company is exempt from the requlremgnts of Ihal Act to Indude 'Lirnitad' as part of its namÈ. It OP8rates in ¢&unc btrith its sister tharity, The Elg Birthpbrx Twst Ichartty no. 2026881, of The 8gar Fwndation isl1 sole trustee. OBJECTWES AND ACTMTIE3 Oblectlv•s and alms The obiectSvos forvthith FoJThJ8lkJn wa8 establshgd arè: To pr¢xnots in gvwy Part of wortd putll¢ edueatitin In. and apweualK)n of. the Iwe and worfts of th8 late Slr Eilward Elgar. 2 To wthnole In evwy part oflhg WLKkl thè pu1¢8C ofany knnd clvKrk on (ff autthe IBt8 Sir Ethwd EkJar', 3 To mairlakn and prese or a$wst in lh8 mainl8narr£ 8nd Près•0 of the Bithpkcs of Ihe te &r Ethvwd Eloar, the Ear Centre and vJhbCA[rfng buldlws at Lowgr eroadhèath wor(e6tsrsh1 Ih8r8inafter calad BiTtrplac8'1 and any other prOty u1 connected with Ihe Birtlpkce or otheThMs8 of nalcfflal kntrnt onrcLed 1h L Sir Edward EJr. 4 To provide and molntaln for the be of th8 nation a puNic musèum. archNe and library of mual 8CmS. trurnents, b>)ks, manuscripts, PiCre5, photogrephs, letters, r8CLYd5 and 0e¢l8 of national (w hlslo knp(thc8 Y1h p'fJJlar to thè latè StrEoMrd E¥ar, his Ife. works, e1jnternari fjmes. The trustees rAxkn that thty have (Mlled wlh itle duty In seclon 17{51 ofthe 2011 Charfties Act to hav8 due wgaTd to guldance on putli¢ bgngffl published by Ihe Charity Cornmi55ion when revlewin9 chahtys alm8 and objeLthve& ACHIEVEAIENT A14D PERFORMANCE Chwltablo actlvltl•$ The BIrthpk7 Inow kr1 45 Th• Flvsl contiwgd to b? open to the puNic for part of w88k and at ChTfj6lmas dudng 2024. The N8bond Trusrs Slte Manager continuéd to develop acuvltles Ihgr8, induding eorwrts. Although nurthrs to Thè ¢{"nue to gTryW, Ihe National Tnjst rerted a d8ficit on incw for 1h• parfod. As nlrncted In Ihe FoundatKnb agreement th thg Trust, th8 Foundauon covored the1ossts for thls porfod.. o payTh•nt to the Trust Is included a¥ expenditure in the 2024 amnts. At the wuest of The N4kn'ty)al TNSL the fijndww agroèrnrt batrfo•n them and the Foundation aThJ tha Elgw Famity Tlust has been extended to Dec8mtsryr 2026 to 8llpw ft¢ al the tedl¢al leg81 proSe5 that wdl 811owThe Nation81 Trust to tak6 overfvl cmtrol ofThè Flrs. The g¢)vemlng btyjy wcrtld ko to tharf( regular dcfiorB to tho FowdaUon fvnds. Thglr <xythlyut Is hLqhty valued. The FourNlation has dso bgneffted frorn gènerous legacies from Alr. Ger&kl Lumb and Lady Marw Wr8W the lattw cl whkh is to fund 8 sthol8rshlp for thè study Elgarf¥ WrkS In a European (not UK) unirty. ThLs stSTShip htts tn awarded wnditJn5 lo Mr. Z8th Bird for 8 sludy whith will OXF4or8 h(pw EkJarfs muslc r•figLtsd, In•n¢•d, and was shaped by AngI(GerMan relatiorns throughout theffirst haK of the 2 cwrtury. Elgar Foundatlon Ent•rprls•s UmStgd Elgar Foundalion ENerprf¥85 Limited {company no. 041288621. tho chaty$ tradlng subwdkgry, rBmalns doma Other a¢llvlll•s Th• Ear Foundakn wntinu8stovhYkvAth ihe NalJnal Trustand The Brftlsh Lliyary to promclo musb. Pag• 1
Thg Elgar Foundauon IRggl•t•Trd numb•r 011472821 R•port oftho Tr10 lorthe Year End•d 31st D0Mb2024 FINANCIAL REVIEW Finandal posltlon Total incom8 was È54.892 compared to £106.280 last year, whith ind89 legacy incorrffj of £519Y212023- £1OJ.000} d grant incomè of£nl12023-£5,0001. Totd expendreft¥ thè year was £59,194 c4mpargd to £79,524 lastyear. Totd unrestrlcled fijnds al Ihg and was £277,18212023 - £301.8961, ofwhith £98.67812023- £102.3361 rd8tes lo xed ASts, lor free res8rves of£178.50412023- £199.%01. Totd restricted funds hdd at thg year gnd arnnIed to £36,971 12023 - £9781. Further dotsiLs LW be frmd in note 19 ofth8 ar181 statements. The Reslrided Endcrtyment Fund rdaies to Ihe EkJar Vlsltor Centr8 Ihekl vthin tanglbk8 fixed a55etsl, whith was nstnKled using tund5 SpecthCal ralsed for the Pu0$• of nSIlU0 trls asset. At the yp8r end funds he Ihe Restricted EndOWnt Fund amountsd lo £477.94512023- £493.4361, f111n9 a depre(aatM?n charg8 in the year of £15,49112023-£15A911. RerVeS polloy At the 81 ond ts chaiity hgld unrtstriciad funds exdudlw f1 asseis £178.gJ4 12023 - £199.Wl. t)ich wil be ¥uffici8nt to fund the activities of tho d)8rfty through to th8 end of tts agreerngrt vthh The Nalonal Trust in Decrnber 2026 based on curronlyes unr8stridod fund net defiiit gxduding rleFwe¢18bon. Th8 tru5te8s VAI wbew the resgrwas PDlicy in fut year8 in ling vAlh lts18ase 8nd fijndkng 8grat Th8 Natlonal Tru8t and thè Elgar Famity Tnrt whlth Is ntrl0 be othded to D8cernber 2026. STRUCTURE, GOVERNANCE AND MANAGEMENT Qov•ming document The ch8Frty 5s contrclled by its govgmlng dooJmonL Its mwnorandum aThJ artWes of ass0c1thc, and o)nsfjlute8 a lir(yi8d company. Umthd by guaranteg. a$ d•fined by the Cornpani¥s A¢t 2(, R•cNitm•nt and appolntment of now The appoinlment of directots Is IntsNew and Imlh the 8pproval of ts Gh•imian. Decl¥l¢)n making The Managernent Curnrnittee met In pewn wlth r8pres8ntatives of the Nats'onal Trust and the EJg8r Fam1 Trust met in person aTrJ by Zrthi on S Feknuary, 22 ri1. 9 May. 3 June, and 21 November 2024, to dlscuss tha transfer otTh8 Fws to The Naticwl TrusL Tr•lnlng oln•wtrwtsg8 New te98 undergts trdlning to brfef thern on thetr regal 01980¥ undar tharfty and (xjnpany law. th8 wntent of the morandum and Artides ol Association, Ihe eDmmKtee and decis1(m-Makn process. the bu5in958 pkn and recont 1kn8ndal [rfanc? of tho charity. TnJslee8 are 0nL¥mJrag lo attend aFpro• tralnlr¥J where this facAlitate thg undortaTr9 0fthr rd•. REFERENCE AND ADhlNISTRATnlE AlLs Reglsternd Company numbgr 01147282 (Engknd and Walesl R•gi¥twed Chailty nwnbw R•glst•rnd offi Thom9108 Hou56 25 Batt*Jume Road Worcester Worcestershlre WR11RU Pagè 2
Elll4r Foundallon IR•glst•rgd numljw. 01147282) R•port of th• Trust•fj• forth• Year Ended 31st Oe¢ember 2024 TnMt••8 MT W H Carke Mr M E B Grafton (re¥ad 21J241 Mr A J Jowett OBE. Th• Rt Hon D J Mallor KC Charmtin Mr M $SeThjer OBE. mrAHANlI MrJFNcffls' Profgs¥or E J Whenham. Mrs J Grafton Knight TNst8è (appointed 8.524) ember8 cllhe montye>ltcoMMILIee d•pand•nt Ex*nkner Th¥ Richards Sandy PathersF¥p Thomeb)e Hse 25 Barty)wno Road 11RU L•Bal Advi1$ Hallmark Wh8W Fbjlmè Solicttors, . Sansonw Plpce. 11UQ B4nker• Trtodos Bank Deanery R¢)ad Bristd BS15AS Th58 r8w)rt has baen Prnred in rdar w1h the special Frni8K>ns of Port 15 of the Ccry8nl¢s Acl 2006 reknung to 3mall a)rnpani8s. AFprovod by ud8rdlhe tK)ard oftrus18es on .... . .. signed on ts behdf by. uLL_ Professor E J Wh•nhm-Tru6tee Pag& 3
IndgPgn&nl ExamlneV• R0porttoth•Thmt of Th• Elgar Foundatk Indep•ndentexamkn•rfs nwtto the trusteej ofTh• Elgar Foundatyon fthe CoiryanYI I reprxt to tho eharlty tru31 on my examlnatk)n of th9 acL)ts ol the Cornpany for the ¢1 315t Dgcemb8r 2024. R•spon•ibitieg and bas1$ of r•port As the thariws tsuèès of the Company land also i15 directors lor the purF¥>s85 of Company lawl you are resFonsltAè t)r Ihe preparnlon of1he 8txounts acxordance 1h th8 r8quir8monts olthg Cornp8ntes Aci 2006 Cthe 20C6 ACVI. Havkng 8aUsfied mys8W that thè Accounts of the Company 8re n(rt requlred to b8 aLyJit•d under Pwt 16 of th8 2006 A d are ebgible for Independgnt 9xamin8tion. I rep1 in rey¢t d my examin8tion crf your d)8riVs aOUnt$ as carried oui undér saCt 145 of thg ChaEtUes Ad 2011 lllhfj 2011 Aci'l. In Carng oui my ¢xarninatic#) I have ftsll¢wed the Oirection¥ gNgn by the Charfty Cornmissh under S6Cth)n 145151 Ibl olthè 2011 Act. bMkp•nd•nt •x•mlnerf• •t•t•m•nt I have mpted my examknalon. I conffirm that no maliers have come lo my ottention In eonnecticn the examinatsn gmng mè ¢•Jse to belleve: 8co)unllTrJ rec£rt$wr9 nol kept in rospertot thè CLNnpany as requY8d by S•rJion 386 ofthg 2006 Art or the cOunts do ntst aeeord thoBe Teo)rds', or the ac£ounts do not cc¥rply wbth the a¢count'ry rtqulreffnts of S8dbJn 3% of Ihe 20C6 Ad thr than any requkement that the gcwunts glve 8 trug and fatr Is not a mattgr corffjKlgred as part of an independontexamination., or the aCunts h8ve not b88n prèpargd In aGcordanc8 Wth methods and prnc¥Jles of the Statement of Recommended Practice for 9Gunng 8ThJ reportlng by thaTIU8s 18ppllc8ble to ehadties preparfng th•lT aceourts In accordanra whh th8 Finanoal R•pcffting Stsndard appllcthe in thg UK and ReKthlic of ITnd {FRS 1021). I h8vo no ¢one8ms and have c•)rne atto$$ nct other mallers In rnnn8dion wllh the exarThnatIC to attention al dra in this port In orderto enable 8 prow understandlrvJ of thg accothts to be reathed. Mel88a G(thvin ACAACCA The Ilchards S•ndy Partrwrshlp Thomeloe Hou¥9 25 Barboume Road Worcester WR11RU Pag64
Thè Elgar Foundallon Stat•m•nt of Flnaneial Athltl•8 {Ineorpor4Ung an Incom and ExpBndlture Account) for the Year End•d 31st Deumbpr2024 2023 Total funds UntriCtsd R9sblCt ETrJornl fvnd$ fvnd funds INCOME AND ENOOWMETrrrs FROM Don8tW8 NJI998t1e$ 18.032 3W1 54.513 105.624 Investment income 656 Total 1&501 3V81 54,982 1(6.280 EXPENDITURE ON Charftsble acti¥iti•s Chaiitat49 Atht1 43.215 59.194 79,524 NET INCOIAEIIEXPENDrruREI (4714) 34993 (15A911 14212 26,756 RECONCILIATION OF FUND8 Totsl funds broughtlorward 301,896 978 493A36 791310 769,554 TOTAL FUNDS CARRIED FORWARD 277.182 4T1.945 792.098 796,310 Th& notès fomi partof thosé finanda slalgm8nts Page 5
Th• Elg•r Foundation IR•oigt•red number. 01147282) Balanc• Shaot 318t Dec•mbor2024 2024 rotal fvnds 2023 Total funds Unrnstrlcted Reth¢tsd fiJThJs fuThYs EnthJwmgnl fund FIXÉD ASSETS Tangible 8S58ts Inv¥atrnents 15 16 477yS 577,112 596.749 4TT,945 17.113 596.750 CURRENT ASSETS 17 121.345 50,898 121345 95,379 103,841 129.172 Cash at bank 180.243 36.481 216,724 233.013 CREDITORS Amountsfalllng du8 wlthln c ygar 18 11.7391 (1.7391 133.4531 NET CURRENT A88ET8 178W4 481 214985 199.560 TOTAL ASSETS LESS CURREp¥f LBlUTIES 277.182 30.971 477,945 792.098 796.310 NET ASSEr8 277.182 36.971 477.945 792.098 796,310 FUNDS Unrestric18d fiJnd8 Restrictsd knds EndolnIfunds 19 277.182 36.971 477 301.896 978 493,438 TOTAL FUNDS 792.09B 796.310 The chathabl8 COrnP8ny Is enUU8d to Oxer from audit under Sgcon 477 of thg Compani9¥ Act 20C6 for th6 yeor 31st Decembw 2024. Thè m•mbers hav& not requlrwj the company to ota an audil of its financi 8talements thè y•8r ended 31st D8cembOF 2024 in accurdanct secti¢ 476 ofthe C(thPleS kt 20Cfj. Th8 trustees ackntyAedge their pSIbile9 for lal ensurfng that the chorltable company keeps al%ntIng that ¢omrAy Wion$ 386 and 387 of the Companies Act 2006 and preparing financial statements vthld) ge a twe and fdr th of the slatg of affairs of Ihg thaitab18 Ltjmpany 8$ at th• end of each finanrAal year and of its $urF4us or defiat for each financlal year In accordance vAth the requlremet7ts of Sethorts 394 8nd 395 and whith otherwi88 mmpty th thè rtquir•m•nts of the Companies Att 20( rdalkng to flnanckil statomgnts. so far as Hl¢ok49 tr) thg th?rilable oJmp3ny. Ib) These ffinandal statements have been prepared In acccKdance with Il provisim$ aFvliLI? to charrtat4• mpanIeS sU0¢t lo th9 small Compa9$ regimg. Tho flnandal statements were aForove(I by Ihe Boa d Twustèès and #ulhorised ftf Issue on and were 3iwd on it8 behabY.. 9ssur E J Whgnham- Trusts9 Thè nclès fomi pt ofth8s• fffi8nc4al stat•m•nts Page 6
Th• Elgar Foundauon Not to the Financial Stat•m•nts forth• Year Endgd 31st D¢c8rnbpr2024 COMPANY INFORMATION The Larly 15 a tsJrrp3ny Inknd by guarath 1h[ sh8r& caph81. The mernbw¥ of Ihe LYJmpary are Ihe ustees named in the report oflhe bitst8&S. The tharilae ¢panY was In¢¢Ated In tho UK the registwgd offlc8 15 ThcThlog Hous?. 25 Bathj Road, worSter, WR11RU. AccoiThmNG poucies BASIS OF PREPARING THE HNANCIAL STATEMEP The finanrial st8tements of Ihe d)aritable o)mpany, whith Is a put1¢ benefft ontlty undgr FRS 12. have been ppared In aOrdanc¢ wilh lh8 Ch$ SORP IFRS 1 D21 At%)unllng and Reporting by Charlle% Statsrnent of Ro¢(mmend¢d Pradcg appneabk to tha[JeS preparing Iheir ¥CLY)unts in ao)ydance the Fln8nciql Reportlng Stsnd8rd 8ppllrAblè In thè UK and Republic of Irel8Trd IFRS 1021 (effect l January 2019y. Fknandal Reting Standard 102 Tr Financial Reporting Standd applicab In the UK 8nd ROpubl of Iland. and th8 ComFories A¢t 2(th. Thè ffinanc481 siaiom8nts hav8 bèen prepared untsr thg h1knriL cost contion. The acrcnts pr8pwed In stethg. which tho fvn¢ts)nal cuFrerKy. Monetary 8M)unis kn th9¥9 Statents arè reded to tho arest£. EXEMPTION FROM REQUIREMENTTO PREPARE A STATEMENT OF CA8H FLOWS The 1$ 0Xpt from the requirement to Prepare a st8ténwnt of cash fiows on thg b that tt qualffie8 •S a small entity 4mdgr FRS 102 and Is not a larger charity under ChBritiès SORP IFRS 1021. EXEMPTION FROM PREPARATION OF CONSOLIDATED NcIAL STATEMEI The finandal statem8nts eontain ifcdTnafjon ahxrt Th¢ Elgar Foundation as an IndNidual cornpany and do not C1) ¢onsdidatsd finan081 1rrfomwyn 8s the parent of a gmup. The ch8rfty 16 exempt Und S8cllon 39g2AI of th? Companbs Act 2006 frcffl th8 rBquirom•nts to prepaTg consoldatod finandal stateme. COME AJI income L8 fecognlsed In Ihe Ststomtrnt of Financl8t ActtIes once th$ cliafity has onUUenrt to the ld$. is probablg thal th• InccThe will bg r1Ved and Ihe amwnt can be mea¥ured reli•bty. Legacy in(me k8 reW3n when thg Charity has ethffimied enltsrnenl gfthè IBgacy. the allrt ¢8n t 9(turty measured It 1$ probaL48 that IheywS11 receive Iho incune. Dcfiations arn r•cuded upon receipL £xpeNDITURE affj reccsnlsed as exPondj1¢ 8$ as th•ro 1$ a legal or ¢on5b)Jctive otligaucffi comtrittting the tharity to that expenditu. it is probablg thot o trAnsfer of econo¢ beneffts 11 b8 Twurad In settlemwt arK1 thg amount of the olgatiOn ian be wsured relKably. Expondlture is a(xounted for on an accnjals bo3i8 and ha3 been clas5thed under head1r that aggregat8 811 ¢ost rekqted to the thory. Wh8r• Gosts cgnnot b• dirèdty attritrod to wticuL8r heading¥ 1hey h#ve been 8Uocated to acbvibes on a basis etffjslstent 1 Ihè u86 of resourc48. Grants offEr8d 5ubjEd lo condkn(S hava not boon mei at the year gnd date ore noted as a (>Jrnrnlment bui not accrid As expendkure. TANGIBLE FIXED ASSETS Dew•dation L8 provided al the knll(Ming annual raies In order to write off èath 8sset 0r ts eBOmatJ useful Fro8hokl propty Fixtures and fiiongs rh on coat 10% on cost Addibons ¢yxtlng leBS ihan £5C4) not¢apbfised. FIXED ASSET IfriVEsfMENTS Share6 In subshJiarie$ mea¥urgd at (x)st lèss any prov10 for Impainn TAXATION TFk d)8nty Is ex8rnptfrc ¢•rp3ratN)n tsx C charltabl8 8chvibas. Page 7 o)rbtinued...
Th• Etgar Foundatlon Not•6 to tho Flnanclal 8tatom•nts- continuéd for th Year Ended 31¥t D•c•mb•r 2024 ACCOUNTING POUCIES- conlinu•d FUNDACCOUNTING Unre8trf•d funds can bg U88d in Ar)ran wth the thartt8ble objectives at lh• d$ctKIn of Ihe bustees. The EndrV•llntffijnd rewosgnts fijnds ral$8d spodficalyforth8 construdion of thè Elgar F(wndation. R•thcknJ fvnds ¢an cfflty be used knr partiCur restricted puwes %thln th6 oty'ects of the thty. R0slrfcltrJis artse vthen by the dornT wwh8n rd$ are r¥isad IOT Fwbcularrèslrfjcted purposes. Furthtr explaroUon of Ihg nabjre and PUFF)So of •ath fund is Included in the notes to thg fin#n¢lal stalem8rrt Fif4ANCIAL INSTRUMEi¥rs Finanaal instswmenls ar8 retognIs thg chty becorn party to ¢tradUal provislons clth8 FIntI#l assets are offsèt. v/ah Ihe net amounts weserrted in the acujunts there 18 A legalty enfortathe light to set off the amounts and there Is an intgmton to setde C a nat basls or to rgalise th8 assei and settk the li81 simultan9Duy. Ba8lc flnsnclal a•s•ts Basic fin8n(a81 Assèts, indude and other rECeNAbS and $h bank bdanc8s, we measured at trans8etK)n prfce Induding tran$8ction costs and arg 5ubsequenty carried at amcrtsgd cost wing thè effective intsrest meth(MY unless the arrangem9nl c(StItUteS a finalln9 transaction, where the transaclon mtrasu at the pr858rrt value rlthe fubJr• receipts dinted at a mark81 rate of intere¥L Baslcllnancial li•bllM Basic financial LkqblIe$. Indjg tradè and other payabbs. are inthlly recognk8ed at Irsaon te uthss the arrangelnt Tr)nsliutes a fjnan(ing transadon. where Ihe debt Instrument is measured at the present va9 of luturo rgcdpts, disLX)unted at a market rale of intar8St. Debl xtstrumnts aro Subsequ1jY Lxrried at 8mth.sed crt usng the thive intgrgrate method. cRlCAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY Ihe applcatlon of ts tharttys acojunting FN)lides, the tru5t8es requlrad to make judgemnts, maleS and assumptjcms etrt tha cwrying value of assets and li8bllhles that ar8 not readity apparent from other sourceg. Th96e est'm85 and undthyng assumptions are rnwewed on an ongoing ba$. Revi15 to 8c¢ounlng eskn"m8te8 ret4)gnlsed in thè parf¢>J In which lh• esllmato mised wher• the revismin affects ly Ihat period, crf Wlod of the revtslon and fvtur8 perfods Who the revlsion affgcts tr)th rJJThent and fijknjre pSods. The sdung of deprwatsC p)Ilths fcr tsngibk fix 885èts Iwhlch 8rÈ siatad In tho accounlng poliL¥85) are rx)NdeW a gnlcarrt Judgarnt. In addttion swJnrfiwt judgement Is wnsid8red to be 8pF4ied in the revith¥ for knpairrnent of tangle fixed assets. The net tr0k ¥aue and rnovamorts in the cl tangit48 tsed a3$8ts *e (15d058d h) note 15 of theffinanL4aJ statemgnts. DONATIONS AND LEGACIES 21V24 2023 DcatIonS Legac Grarts 521 51992 624 100,000 5,(K)O 4513 105,624 Grnnts receIv. ikl0d in the ¥knove. ar8 asfoll 21124 2023 The Str88t Foundali( 5,OlXJ Pagè 8 nugd...
Th• Elgar F(¥undatlon Nates to th• Flnanclal 8tatofflents- ¢onllnu•d fr>r th• Yo•r Ended 31st De¢ember 2024 INVESTMENT COmE 2024 2023 Ba Interest CHABLEAcTIVITIES COSTS Grant fvnding of aCti'e8 (see note 81 Supput rA)sts {8eg not8 91 Costs (see te71 Totsls arltabl8 Actfviles 51238 1.000 1.956 59.194 DIRECT COSTS OF CHARITABLE AcnvmES 2024 Propgty Nauonal Trust fuKling re8M0nl payments In8uranc8 subs1p0n B8nk ch8r9eS Travel expens08 Dekyeciafjon Sundries 9,749 18.323 8,025 423 13 9.381 31,785 12 132 19.969 26 19.637 4238 GRANTS PAYABLE 2024 2023 ChsrftabAdvIu8 1.000 1,000 The total grants wd tr* Inthdons during the yearwa8 a8 folhyAg: 2024 )23 Wcfc86ter Cathpdral-thtsrf6tsr Khc4arthlp 1.000 SUPPORT COSTS Govemance Charitsbb Athll 1.956 P#g$ 9 ntiy...
The Elgar Foundatlon Ilot•$ to th• Flnan¢lal Stat•m¢thts- ¢ontlN•d forth• Y•ar Ended 31st I)0mber2024 suppoKr COSTS- contInd SupFYt COBts, Induded In the abwe, as folkhv6.' 2024 Ch81118 2023 Total acuvftjes Independw examins f¢• Legal and proles6iMal fee8 6,998 8,880 10. INCOME1(EXPENDuRE) Ngt tncthxèllèxpèndkutsl is statod aftèr thargIn(CrOd6ngl'. 2024 2023 Independent exeminerfs fee 1.884 19,969 19.637 TRUSTEES. RElNERATKl AND BENEFrf8 There were Th) twstee8' romuneraion r other beneffts ltr the year 6ThJ8d 316t Decomber 2tr24 Th)r fty tho year ended 31st December23. Dn@ ts yearno tnffjtees were reimburs&Y anyexpÉnsos12023- £1321. 12. STAFF COSTS Th•r• w8rè stall costs in eltherthe curnntor rnparthe yew8. COMPARATNES FOR THE 8TATEMETrrf OF FINANclALAMTIEs Unreslrfcl8d ETrJowrnont funds hJnd8 fund funds 114COME AND ENDOIVMENTS FROM Don0$ and le98¢les 105.624 105.624 656 Totsl 106280 106,280 EXPENDMJRE ON Ch8rlthblo 8CtlvMI 63.445 568 15.491 NET INCOMEIIEXPENDITURE) 42,835 15881 115,491) 26,756 REGONGILIATION OF FUNDS Total fvnds trfwghtloThvwd 259.(*1 508.927 769.554 TOTAL FUNDS CARRIED FORWARD 301,896 978 493.436 796,310 Page10 continued...
Tho ElprFoundatlon Notss to tho Flnanclal Stat•monts-¢ontlnu forthe Year End•d 31st D•¢ember 2024 F114ANCIAL COMMrrMENTS The Elger F¢ymdaUon wJrged to The NaOc¥wl T1$ operatloJwl knsses kncurr•d In th8 8gats t4rtha and museum untl Bth Deeomber 224, this ha8 betrn •xtèrn1ed to 31 OecemtT 2025. 1& TANGIBLE FIXED ASSErJ Fixtures Froehdd Totsl¥ COST At 1stJanuary 2024 and 31st Ccenyer 2024 1.046.198 106200 1.152,398 DEPRECIATION At 1st January 2024 Charge for y& 4S0,641 18,935 104008 702 554649 19.637 At 31sE December 2024 469,576 104710 575,286 NET BOOK VALUE Al 31st 0gcarnb8r 2024 571622 STI,112 At 31$1 December 2023 595.557 $96,749 Freohohl land and bull¢lings includes a co8tof £99,44712023- £99.4471 In los¢t oflgnd. FIXED ASSET INV&8TMENTS Share In subsldiarie8 MARKET VALUE At 1st January 2024 ond 31st December 2024 BOOK VALUE At 31st D8cemb8r 2024 At 31st December2tr23 The ctrrynrfs Inveslments at the balan 8hggt d8t• in the share caw 01mP9185 indude Ihefolowing: Elgar Foundatlon Ent•ryxls•8 Llmlted {¢ompany nrA 04128862) Registerod offi('. Thomebe House, 25 B8rboume Road. Worrmter, WrKco¥tershlN Enand, WR11RU Natyrg of business: Dom)ant 2023 Agegats cepital reseN•s attho year ond Proffivlkjsslforlhe year Tho EkJar FOund0b hdds 11)J% ofthe issued share capilal of Eljar FOU8110n Enterwi8es Urrttgd. Th• Elgar Birthplace Trust IGh•ty no. 2026881 R8gÈ5tered Offi.. Thomelog House. 25 Bajme Roed, WceSr. Wty¢•sterthfi Erland, INR1 1RU Natu of t*Jshoss: Dclmanl chaFIty Pago11
Th• Elgar Foundatlon N<esto th• FIMn¢lal Stat•mgnts. eontinu8d fvrthe Year Endld 31¥t December 2024 16. FIXED ASSET INVESTMENT3- conllnued 2024 2023 4gregate reserves 8tthe ernd SurF4uslldofidtl for the year The Elgar Fwndal)n is tho sc4• trustee olThe Elgar BIrthrA8 Tt, 17. DEBTORS: AMOU1$ FALLING DUE IVITHIN ONE YEAR 2023 Acwed in¢>*nÈ 118.511 100,0 3.841 121.345 103,841 1& cXIED0RS. AMouKfs FALUNG DUE wifHIN ONE YEAR 2023 ed on 1.739 33,453 MOVEMENT IN FUNDS hA1.124 In ndS 31.12.24 Lknrnstrf¢t•d funds GgneAI lund 30198 (247141 271.182 R•¥triete¢l fund• gar Birthpkce Dev6k)pmert y M Wraigm Legacy- BurB8ry Fund 978 (4881 481 490 36A81 978 W93 36.971 Endovmi•nt funth gar Contr8 Endowmerrt Fund 477.945 TOTAL FUNDS 796,3111 142121 792.098 Net movement in fvnds, indjded In th8 atrthe art 08fcknvs'. Inwing Resourc45 re80urc•s pended Iloveme In funds lknr•stritt•d lund• GgneTal lund 18A01 143.2151 124.714) R•strf¢t8d funds Elgar Birthpkc4 DgVgbw8nt Fund Lody M Wraight L8gatry- Bursary FuTrJ 14881 1488) 36.481 31481 {4881 34993 Endovmwntfunds Elgar Centre End(yAYn8nl Fd {IW) {15A91) TOTAL FUNOS 982 159.1941 14212) Page 12 continued...
The ElgarFoundation Not•s toth• Flnand41 Stst•m•nts- eonllnuod f¢rtho Y••r Ended 31st 08mbar2024 19. MOVEMENT IN FUNDS- ¢onthiued COM11¥¢# l¢r mov•m•nt Ix lunds Net At 31.12.23 A11.1.fJ In funds Unr•JtslCt fund Gar1 f}d 259.061 42.835 301,896 Rg%irict•d funds Elgar Blthpk8ce Fund 15881 978 End0nI fvn¢Js Elg8r ctre Endobvment Fund 508.927 115.4911 493.436 TOTAL FUhlJS 769,554 26.7S6 796,310 coMrArae net TrMent in funds, Ind•d In thg gLM)v9 aTO as fol. Inwni In fvnd$ Unmstsl¢t•d fund• Gera1 fund 106,2WJ 163.4451 42,835 R05trfd•d funds Elgar Blrthpk DO1)MInt Fund (588) 15881 Endovmlènt fiJnd8 Elgw Centre End9Wrr Fund 115.491 } (15.4911 TOTAL FUNDS 106280 179.524 26.756 The Unre6trictsd General Fund ho8 arls8n frcrfn eccvmulatsd $urF4usos and can ts u¥ed for any charflab puw• approved by thg trustee Resbldgd Elgar 8wWlace Devekpment FuThJ to d(ffiaticTh T0¥0d to moot th& 6t of anhancemonL8 to the w5itor5' faule5 and olhor proie¢ts.The remzining bln Gl these lunds is hdd Qs tAnglbte llxed assetsthat are b91ng d8pr8CiBt¥d overtime. The ReIcted Lady M Wr8ight Laggcy - BUary Fund relat8s to a lagacy to estat4vah a stholArshlp Jrsary to slmulats udy 8nd rÈsearth Into Ebar and his rrusic in unNerb&S and musl¢ $thl$ on the European ¢xmtinL The EbJar Centre Endow*Tnent Fund represents funds Taised 8p8t4ne8lly the wnstrucllon of Ihg Ewr Msltor Cth. The dePTlation ofth8 Ear Visrtor Contre 1$ Charg againstthls bjnd. Page13 (¥ntiNgd...
Tho Elgar Foundatlon Not to Flnan¢lal Slatem8ftts- ¢ontlnu•d fortht Yo4r Endod 31¥t D•Mmbw 2024 RELATED PARTY DISCLOSiIRES There rg no retatod p8rtytr8n$*tkins fortho yw 8nd&d 31st 09cbar 2024. Page 14