THE MUSICA BRITANNICA TRU
TRUSTEE REPORT AND ANNUAL Accouprrs
FOR THE YEAR ENDED 30- JUNE 2024
Page
Legal and administratFve information
Trijstees. Report
Independent Examinerfs Report to the Trustees
Staternent of Financial Activities
Balance Sheet
Statement of Cash Flows
Notes to the Financial Statements
10-15
Charity Number 271332

LEGAL AND ADMINISTRATIVE INFORMATION
TRUSTEES
Dr Nicolas Bell
Professor Rebecca Herissone
Professor Peter Holman
Professor Julian Rushton
Valerie James
Professor Simon Keefe
SEcR￿ARy
Christopher kobie
CHARITY NUMBER
271332
PRINCIPAL ADDRESS
Flat 9. CarWe House
Albion Road
London
N160UA
INDEPENDENT LXAMINER
Tim Gage FCA MSC DChA
Sonnet Advisory & Impart C.l.C.
45 Flitwick Road
Arnpthill
Bedford5hire
MK45 2NS
BANKERS
CAF (Charities Aid Foundation)
25 Kings Hill Avenue
West Malling
Kent
ME19 4TA
SOLicrroRS
Field Fisher Waterhouse LLP
35 Vine Street
Lon(lon
EC3N 2PX

TRUSTEES. REPORT FOR THE YEAR TO 30 JUNE 2024
The trustees present their report and accounts for the year ended 30 June 2024.
The accounts have been prepared in accordan￿ with the accounting policie5 set out in note I to the accounts and
comply with the charity'5 Trust deed. The Charities Act 2011 and the Trustees have adopted the provisions of the
Statement of Recommended Practice. 'Accounting and Reporting by Charities, IFRS1021, effective from l January
2015.
STrucTURf. GOVERNANCE. AND MANAGEMENT
structure of the Trust
The Musica Britannica Trutt was established by Trust Deed by the Royal Musical Association as an independent
CharFt3ble Trust with effect from l July 1976.
Trustees
The Trustees shall consist of lal ex-officio Trustees and Ib) no fewer than two nor more than four ordinary Trustees.
Ex-officio Trustees are, under Clause 4 of the Trust Deed, deemed to be the individuals holding office in the Royal
Musical Association as President and Honorary Treasurer. Ex-officio Trustees will change in accordance with the
change of officers in the Royal Musical Association. The ordinary Trustees shall be appointed land may be removed)
by Resolution duly passed by the Editorial Commtttee of the Musica Britannica Trust and shall be mernbers of the
Editorial Committee. Under Clause 7lcl of the Trust Deed decisions of the Trustees shall be determined by reference
to a simple majority vote of the members present and voting- in the case of an equality of votes the Chairman of the
meeting shall not have a second casting vote.
Trustee induction and training. New trustees are briefed on their legal obligations under charity and company law,
the Charity Commission guidance on public benefit. the content of the Trust Deed. committee and deeision-making
processes, and the recent financial performance of the Trust.
The trustees who Se￿ed during the year are as follows-
Ordinary trustees
Dr Nicolas Bell
Professor Rebecca Herissone
Professor Peter Holman
Professor Julian Rushton
Ex-officio trustee5
Valerie James IHonoraryTreasurer of the Royal Musical Assoaationl
Professor Barbara Kelly IPresident of the Royal Musical Association), until 31 December 2023
Professor Simon Keefe (President of the Royal Musical Assoaationl. from January 2024
Administration and risk
The administration of the Trust and the control. management and application of the T￿$t Fund are in the discretion
of the Trustees. The day-t(￿daY management of Musica Britannica is the sole responsibility of the Editorial
Committee, subject to any credit limits which the Trustees may impose frorn time to time.
The Trustees have reviewed the risks faced by the Trust and are satisfied that there are adequate procedures in place
to mitigate all material exposure.

OBJECnVES AND AcnvmES
Oblettive5 of the Trust
The Trust was established in order to promote, support, and develop research into British music by the continuing
research and publit3tion of Musico Britannica. There has been no change in policy during the year.
Public benefit
The core remit of the Trutt, which is exercised in the public benefit. is to extend the knowledge and to enrich the
general understanding and appreciation of British music.
The Tnjstees have considered the guidan￿ on public benefit issued by the Charity Commission and are minijfvl of
their duty to ensure that all of the charitrfs activities fall within the scope of the guidance.
Artivities
The Trust achieves its objectives chiefty through the publication of the series Mu5ico Britonnico.
In addttion, by means of the Musica Britannica Recording Award. the Trust makes small rnonetary grants to support
recording5 of repertoire from the Musico Britonnico series.
The Lewis Memorial Prize Competition Ifomierly Sir Anthony Lewis Memorial Prizel, founded in memory of the first
Chairrnan and General Editor of Musica Britannica, is held every yeai and is adminhstered by the Trust.
MEMBERSHIP AND MEEllNGS
The Trustees met on three occasions during the year.
The Editorial Committee met on three occasions durinE the year. The following Se￿ed as members of the
committee:
Dr Nicolas Bell
Dr Jonathan Clinch
Dr John Cunningham
Professor David Fallows
Professor Rebecca Herissone (Chair)
Professor Peter Holman
Dr Peter Horton
Dr Harry Diack Johnstone
Dr Valerie Langfield
Dr Peter Lynan (General Editor)
Professor Julian Rushton
Professor Jonathan Wainwright
In accordance with section 8111) ol the Musica Britannica Trust Deed. Dr Nicolas Bell, Dr Jonathan Clinch, Dr Valerie
LangField and Professor Jonathan Wainwright retire from the Editorial Committee. Dr Bell. Dr Clinch. Dr Langfield and
Professor Wainwright all offer themselves for re-election.
ACHIEVEMENTS AND PERFORMANCE
Publication of Musica Britannica
During the year one new volume of Musica Britt7nnicu was published-
Volume 108." Williom Croft.. Three Ode5 Wlth Orchestro, edtted by Alan Howard
In addition the Trustees. through the Editorial Committee. authorised revised edTtion of MB14= John Bull.. Keyboard
Music l and a reprint with corrections of MB5= Thomt7s Tomkins.- Keyboard Music.
The Trustees, through the Editorial Committee. also continued to authorise the preparation of performin8 parts for
sale or for hire for all relevant new volumes.
The Trustees are grateful to the publishers fortheir work and advice on all matters pertaining to the publication of
Musico Britannico.

Musica Britsnnica Recording Award
The Trustees invited application5 for a new Recording Award and received three applications. The Editorial
Committee considered applications and decided to recommend that the Trustees do not make any awards in 2024.
Of the stjccessbjl applicants to the 2023 Recording Award. the recording by Solomon's Knot of vocal music by George
Jeffreys has been released. Awards to Julian Perkins Iforvideo recordings of works by Tomkins, Greene and
Roseingravel and Giulia Nuti (for a recording of music by Benjamin Cosynl remain unclaimed, awaiting completion of
those projects.
Lewi5 Memorial Prize
The Lewis Memorial Prize Competition took place on Tuesday 2 April 2024, at the Royal Academy of Music. The
competition was open to Singers and there were six finalists. Dame Felicity Lott served as the guest judge, alongside
Rebecca Herissone, Peter Holman and Jonathan Wainwright. who judged on behalf of the Editorial Committee.
A first prize of £20(Xl was awarded to Daniel Vening IRoyal kademy of Music). Two second prizes of £101￿ each
were awarded to Sebastian Hill IGuildhall School of Music and Drama) and Daniel Marles (Royal Birmingham
Conservatoirel. An Accompanisys Priie of £750 was awarded to Daniel Silcock (Royal Academy of Musicl.
FINANCIAL REVIEW
Reserves and investments
The Trustees have considered the level of reserves awailable to the charity, which at 30 June 2024 totalled £110,401.
Total urkrestrirted reserves includes Stock at a value of £56,824 which is not easily realised, leaving free unrestricted
reserves of £53,577. These reserves are held to enable the chartty to fulfil its purpose through continuing research
and publication of Musica Britannicu.
The Trustees continued to appoint Rathbone Greenbank as their investment manager during this period. Rathbone
Greenbank manage the funds previously invested in line with the tern)s of Lady Lewis's will and the Trusvs
investment policy. This investment is currentty treated as a restricted fund and used to fund the Lewis Mernorial
Prize, although the Trustees are exploring ways of increasing the range of activities that this can be used to fund.
The state of the Trusys affairs at 30 June 2024 is shown in the Financial Statements. The Trustees are of the opinion
that the Charity5 assets are available and adequate to fulfil the obligations of the Charity.
ACKNOWLEDGMENTS
The Trustees are grateful to Stainer & Bell Ltd for continuing to act as publishers to the Trust and express
appreciation to the professional advisers whose names are included on Page l.

STATEMENT OF TRUSTEEg RESPONSIBILmE5
The Trustees are responsible for preparing the Annual Report and the Financial Statements in accordance with
applicable law and regulations.
Law applicable to charities in England and Wales requires the Trustees to prepare financial ststements for each
financial year which give a true and fair view of the thariws financial activtties during the year and of its financial
position at the end of the year. In preparing these financial statements, the Trustees are required to-
Selert suitable accounting policies and then apply them consistentlv:
Make judgements and estimates that are reasonable and prudent-
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 proper accounting records whith 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
relevant legislation. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention of fraud and other irregularities.
For and on behalf of the Musica Britannica Trust
Rebecca Herissone ITrustee}
Valerie James ITrusteel
Christopher Scobie Isecretaryl
15th January 2025

Independent examinerfs report to the trustees of
The Musica Britannica Trust
For the year ended 30 June 20Z4
I report on the accounts of the company for the year ended June 2024 which are set out on pages 7 to 15.
Respertiye responsibilitie5 of Tn￿tee5 and Examiner
The Trustees are responsible for the preparation of the accounts. The Trustees consider that an audit is not required
for this year under section 144{21 of the Charities Art 2011 (the 2011 Att) and that an independent examination is
needed.
Having satisfied myself that the charity 15 eligible for independent examination. it is my responsibility to-
examine the accounts under section 145 of the 2011 Att-
follow the procedures laid down in the Beneral Directions given by the Charity Commission under section
14515llbl of the 2011 Act: and
stste whether particular matters have come to my attention.
Basis of Independent Examlner's Report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An
examination includes a review of the accounting records kept by the charty and a comparison of the accounts
presented with those records. It also includes consideration of any unusual rtems or disclosures in the accounts, and
seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide
all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts
present a 'true and fair view. and the report is limited to those matters set out in the statement below.
Independent examiner's ststement
In connettion with my examination. no matter has come to my attention:
whith gives me reasonable cause to believe that. in any material respect. the requirements-
to keep accounting records in accordance with section 130 of the 2011 Act,- and
to prepare accounts which accord with the accounting records, comply with the accosjnting
requirements of the 2011 Act and with the methods and principles of the Ststement of Recommended
Practice= Accounting and Reporting by Charities
have not been met- or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts
reached.
Date=
lois
Tim Gage FCA MSC DChA
45 Flitwick Road
Ampthill
Bedfordshire
MK45 2NS

Statement of Financial Incorpo￿Ing the Income and Expenditure Afcount
forthe Year EndÈd 30th June 2024
2024
2023
Total
Funds
Total
Funds
Funds
Fund5
Income
Donation5
Donations ar￿ Gift aid
2.570
2.570
1.425
1570
2.570
1,425
Charttable artiviknes
Sales of volumes
Royaltie5
34.726
34.726
46.109
38.204
50.033
Investment intome
Bank interest
931
Totsl
E¥penditure
Charitable activittes
Sales of Volumes & awards
P¥izes awarded & expenses
36.608
12.121
8.886
other
Sundry Expenses
5.868
5.738
5,738
Total Expendltu
Net income I lejtpenditurel and net rnovement
funds before gains and losses ￿ investmènts
{8,873)
17,677}
118941
Net gains/llossesl on investments
33.634
33.634
2,033
Net movement In funds
24.761
25.957
139
ReconcRiatlon of Funds
Total Funds Brought Forward
729 319
Totsl fL¢nd5 Caryied Fonvard
41
All of the above results are derived from continuing aCtI￿ties. All gains and losses recognised in the ￿riod are irKluded
above.
The notes on pages 10 to 15 fomi part of these frnancial ststements

8alance sheet as at 30th June 2024
2024
Total
Funds
2023
Total
Funds
Note
Funds
Funds
Fixed Assets
Investments
619,761
619.761
586,127
Current Assets
Stocks
Debtors
Cash at bank and in hand
12
56.824
7,763
52.314
56,824
7.763
77,567
52.723
25,216
70,898
13
25,253
Total cunent assets
116,901
25.253
142.154
148.837
Llabilities
Creditors: amounts fairing due within one year
14
6,5LM)
5,506
Net current assets
110,401
25.253
135.654
143,331
Total assets less current liabifrties
110,401
645.014
755.415
729,458
Thefunds ofthe Charity:
General Funds
Restricted FurKIs
15
110.401
110.401
645,014
109,205
620,253
15
645.014
Total chaiity fvnds
110.401
645,014
755,415
729,458
Profe550r R Herissone
Trustee
Valerie James
TTU5tee

Statement of Cash Flows for the yearended 30th June 2024
Note 2024
2023
Cash Flows from Operating Activities
17
6.669
1463,5121
Cash flows from itwesting activtties
Cash flows from financing activities
Increase / (Decrease) in cash and cash equivalents
1463,S121
Cash and cash equivalents as at 30th June 2023
70.898
534,410
Cash and cash equivalents as at 30thJune 2024
77.567
70,898

NOTES ACCOMPANYING AND FORMING PART OF THE FINANaAL ￿ATEmENTs FOR THE YEAR
ENDED 30 JUNE 2024
Note I
Accountin8 polic•es
a) Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention. The financial
statements have been prepared in accordance with the Statement of Recommended Practice ISORPI.
'Accounting and Reporting by Charities, IFRS 1021 effective from l January 2015. The particular
accounting p)licie5 adopted are described below.
bl Fund accounting
General funds are unrestrirted funds which are available for use at the discretion of the trustees in
fltrtherance of the general objectives of the charity and which have not been designated for other
puiposes.
Designated fijnds comprise unrestricted funds that have been Set aside by the trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restrirted funds are funds which are to be used in accordance with spectfic restrictior55 imposed by the
donors or which have been raised by the charity for particular purposes. The cost of raising and
administering such funds are tharged against thè specific fund. The aim and use of each restricted fund
is set out in the notes to the financial statements.
c) Incoming resources
All incoming resources are induded in the Statement of Flnancial Activities ISOFAI when the charity is
legally entitled to the income and the amount can be quantified with reasonable accuracy. for legacies,
entitlement is the earlier of the charity being notified of an impending distribution or the legacy being
received.
No amounts are included in the financial statements for services (kinated by volunteers.
dl Resources expended
All expenditure is accounted for on an accrual basis and has been classtfied under headings that
aggregate all costs related to the tategory. All expenditure is recognised once there is a legal or
constnJctive obligation committing the Trust to the expendilure.
e) Grants Payable
Direct charitable expenditure includes the grants paid to institutions and individuals where the main
concern 15 to promote. support and develop research into British music. These are recognised in the
financial statements when a commitment has been made
io

NOTES ACCOMPANYING AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE
20241Continued}
Stock
Stocks of current publications and work in progress have been valued at the lower of cost and estimated net
realisable value. The estimated net realisable value is calculated in the basis of cost less provisions calculated
according to the date of the production of the volume.
Note 2
Voluntsry income
2024
2024
2024
2023
Totsl
Total
Legacies
Donations
Gift Aid
177,646
3,788
2,570
2.570
2,570
2.570
181,434
Note 3
Investment Income
2024
2024
2024
2023
Total
Total
Interest receivable
931
13
72
Note 4
Incoming resources from Charitable Acti¥lths
2024
2023
Sales of Volumes
Royèlties
34,726
3,478
38.204
46,109
3,924
50,033
li

NOTES ACCOMPANYING AND FORMING PART OF THE FINANaAL STATEMENTS FOR THE YEAR ENDED 30 JUNE
2024 (Continued)
Note 5
Totsl Resources Expended
Grant
funding
Total
2024
Total
2023
Note
Other Costs
Charttable Activities
Sales of volumes & awards
Sales of volumes & awards
Support Costs
Total
32,121
2.519
32,121
34.098
2.519
2,510
34,640 36,608
Prizes awarded and exrEnses
Activities undertaken directly
Study Events
Grant funding of activities
8,886
6,121
6,¢X)O
&886
12,121
Total
43526
43,526
48.729
Note 6
Activitses Undertaken directly
2024
2024
2024
2023
Other costs relatingto sale5 of volumes & awards:
Opening stock & WIP
52,723
Purchases
31.530
Closing Stock and WIP
156,824)
52,723
61.430
31.530
20,807
0 156,824) 152.7231
Cost of sales
General editorfs expenses
Honorarium.. general editor
Publicity and advertising
Contribution to Publisher's Storage Costs
27.429
58
27,429
58
4.134
29,514
4,134
4.083
51X)
500
32.121
32.121
34,097
12

NOTES ACCOMPANYING AND FORMING PART OF THE FINANaAL STATEMENTS FOR THE YEAR ENDED 30
JUNE 2024 (Continued)
Note 7
Grants Payable
2024
2023
Prizes awarded & experFses
Musica Britsnnica Research Award: No awards We￿ made during year12023: None).
Note 8
Support Costs
2024
2023
Insurance
Bank Charges
2.459
2,447
63
2,519
2,510
Note9
Govemance Costs
2024
2023
Honorarium- secretary
Secretary's expenses
Committee expenses
Accounts Preparation
Independent Examination
216
1.2(Kl
395
1,200
300
5.868
5.738
Note 10
Trustees
No remuneration was paid to any Trustee durirethe pèriod. The following expenses were reimbursed to
trustees during the year-.
Rebecca Herrisone- £358
Peter Holman- £66
12023.. A total of £526 was paid to Trustees duriTVd the period).
Note 11
Employees
There were no employees during the year
13

NOTES ACCOMPANYING AND FORMING PART OF THE FINANaAL STATEMEpifs FOR THE YEAR ENDED 30 JUNE
2024 (Continued)
Note 12
Stocks
Stocks are made up of finished good5, ￿1r￿VolUmeS of music for resale totslling £56,82412023- £51,524) and
work in prOB￿sS o* nil12023- £1.1991
Note 13
2024
2￿4
2024
Total
2023
Total
Debtors
Trade Debtors
Legacy Debtor
7.763
7.763
25,216
7.763
7.763
25,216
Note 14
2024
2024
2024
Total
2023
Total
Credjtors: arnounts falling due wrthin one year
Trade Credrtor5
Accruals
55(KJ
5.500
5.$06
6.500
6,500
5,506
Note IS
Funds
Restricted Funds
Balance at
OV0712023
Balance at
Income Expenditure 3011%12024
The Lewis Memorial Fund
620,253
33.647
8,886
645,014
Total restrlrted Funds
620,253
33.647
645.014
Unrestykted Funds
General Funds
109.205
41.704
40,508
110,401
Total Funds
729.458
75.351
49,394
755,415
The Lewis Memorial Fund (previously Sir Anthony Lewis Memorial Fund) is used to cover the costs of administration
nd to Pfovide prizes for a competition held every two years, the competition is for singers, keyboard players. or
consort5.
14

NOTES ACCOMPANYING AND FORMING PART OF THE FINANaAL STATEMENTS FOR THE YEAR ENDED 30 JUNE
2024 (Continued)
Note 16
Analysi5 of net assets bet￿n funds
2024
2023
Funds
Funds
Fund balance5 a5 at 30June 2024 are represented by-
Fixed Asset Investmènts
Current Assets
C￿ditorS.. amounts falling due within one year
619,761
25253
619.761
142,154
16.5(Kil
586,127
148,837
15,5061
116.901
16.5￿)
110,401
645.014
755.415
729,458
Note 17
Reconciliation of net movement in funds to net cash flDwfrom operdt5ng activities
2024
2023
Net movement in Funds
Increase in Investments
Unrealised profits I losses on investmer
Decrease I Ilncreasel in stotks
Decrease / Ilncreasel in debtors
Increase / (Decreasel in creditors
17.677)
133,6341
33,634
14.1011
17,453
11*941
1586,1271
2,033
8,707
109.762
4.LX)7
Net cash used in operating activitie5
6,669
1463,5121
15