MUSIC CAMP TRUST Charity Number 276270 MUSIC CAMP TRUST REPORT AND UNAUDITED ACCOUNTS 30 APIUL 2024
MUSIC CAMP TRUST REPORT OF THE TRUSTEES Trustses and key management personnel S Laughton (Chaiman) H P N Steinttz (Deputy Chaiman) R Horrocks N Jones l Noonan R Solomon Imlliams J Hamilton C Balston A Wse (Treasurer) C Dan$n Principal address Aquila Lodge, Dairymede Speen Princes Risborough Buckinghamshire HP27 OTD Bankers Barclays Bank High ¢0MÈ£ (Business Banking) Leister LE87 28B
MUSIC CAMP TRUST REPORT OF THE TRUSTEES The trustees present their annual report and actounts for the ¢hanty for the year ended 30 April 2024. Structure, Govemancè and Management Music Camp Trust {'MCT or Ihe charity,) is a Charitable Incorporated Organisation (CIO), charity registered as a body corporate under Part 11 of the Charities Act 2011, chartty number 276270. The charity has been a CIO since 7 Awtl 2022, having previously been a company limited by guarantee with charitable status.. Music Camp Limited. company number 01374076, incorporated on 19 June 1978. The (*tange of name from Music Camp Limrted was approved by special resolution at a General Meeting of company on 19 January 2022 and the conversion to CIO status and the adoption ofthe CIO constitution KEre approved at a General MeetirwJ on 29 March 2022. The new legal status is a simpler arrangement that is more sutted to a small chartty. There is no requirement to comply with company law or to lojge accounts with Companies House. As a lower-income charity as defined by s133 of the Charities Art 2011, the charity is also pemirtted to wepare simplified, receipts and payments, aco)unts. The constttLrtion is the 'assoaation' mcrfjel constttution, which all¢)ws for voting memters in addition to trustees as under the previous company structure. The original signatories to tk company memorandum and artides of assoaation decided that the membership should be kept to approximately fifty peopFe vtho were GUentlY involved with Music Camp activrties (see below). The trustees oFerate a F(fylicy whereby any members who cease to be involved in Music Camp are invited to resign, so that their pla may be taken by more active Music Campers. At 30 April 2024 there were 97 members {2023". 96). All those involved wtth Music Camp activities, whether members or not are encouraged to pay an annual subscriptK>n of an amount of their Choi to MCT. The trustee$ manage the affairs of the charity and apwjint new members. There are no employees and tnjstees recerve no remuneration. The tnjstees have a wide range of skills arKI experien suttable for their roles. They take the OFerational and strategic decisions in Consultation with the members. as they c(y)sider approwate. Objectlves and activitles The main object of the Charity is to advan education and training of musicians and to promote the appreaation ofmusic by the public. The prinapal acaivty ofthe charity is the support ofgenuine amateur music, at Music Camp, an organisation fomied in 1927. Help is gtven through the provision of facilrties at Pigotts, North Dean. near High WycornL, Bu¢kinghamshire, the home of Music Camp, where musiaans meet lo rehearse. Al those attending pay Iheir way and no one r1Ve$ a fee. MCT provides support by Way of suth matters as the purchase of music, musi&il instruments and necessary 4uipmenL The trustees have complied with their duty under section 17(5) of the Chartties Act 2011 to have regard to public benefit guidan¢% published by the Chartty Commission in exercising any powers or duties to which the guidance is relevant. Mcfs support of actwrlies at Pigotts helps to ensure that Campers of all ages and backgrounds benefft from the opportunty to participate in diverse and ambitious music-making expertences which challenge, educate and extend their musical knovledge and ats'lty and vthich help them develop their instrumental or
MUSIC CAMP TRUST vocal technique, repertoire and sight-reading s'11s. Participants then use these sllllls to benefft the other music-making groups to which they bebong across the UK and beyond. These activities are wovided on a voluntary basis, and they offera cultural, soaal and educational experience Ihat would be unaffordable to many partieipants rf provided rA)mmercially. Al campers benefft without restriction, and the only requirement for participats'on is Musi1 abilty and a personal recommendation. The Elizabeth brary coltion corrtains a wide range of sheet music for vocal and instrumentsl ensembles of all sizes. Most of the colleL#ion is available for use, at no charge, by community music groups. Borrowers are encouraged to make a donation towards the cost of maintaining the collection. The library makes an important Contribution to the financial viability of amateur arts groups in an environment of steeply rising commeraal music hire charges and cuts to public music library service6. Review of activities In a nonnal year, many vEekend and other musical events are organised at Pigotts, the sU$S of vthiGh is partly dependent on the faalities that MCT wovides. The running costs of each occasion are b)me by those attending. MCT makes a contribution to the cost of the event, ef(her to redu the overdl cost per head {for example. rf MUSI1nstrUMent hire costs are parti¢)Jlarfy high) or to help individual campers in necessttous cIrcumstsn wrth the cost of participation. There are no paid staff,. participants organise and run the activiti'es. Works rehearsed during 2024 over such weekends ranged in scale from a jazzlclose harmony weekend to large orchestra (Strauss Don Juan and Nielsen Symphony no 3) and including operas such as Puccini's Fanciulla del West. Other events included weekends for string orchestra. brass band. choirs. chamber music groups and Bach cantatas. For younger music campers there were weekends for 'Families and Music,, junior orchestra, young singers and young chamber music. In addition. in January 2024, MCT organised the annual Music Camp Reunion, in London, when Dvorak's stabat Materwas rehearsed, each participant paying a subscription to take part, with any proceeds going to MCT to support its charitable objectives. Financial Revlew The income of the chartty comes from a combination of subscripkn'ons, donations, tax claimed on donations under gift aid, and investment income. The trustees consider that generally activities at Music Camp should be self-supporting, but that MCT should stand ready to help by providing funds to improve or maintain the facilities there. The charity has funded several wooden buildings at Pigotts, and Pigotts houses MCTS extensive library, music from which is made available to similar organisations. Expenditure is therefore made on such things as the provision of music. instruments, and necessary items, and contributions towards the cost of music hire. the provision of which will enable those attending to gain more from the experieno. Ownership of such equipment remains with MCT. During the year 202&24, MCT continued tts usual expenditure pattem providing financial support for activities which take place at Pigotts. The charity recorded regular receipts for the period of £13,232 (2023.. £13,191) wtth outgoings of £3,569 {2023: £6,478) and support costs of £2,169 {2023'. 2,432). In addition, there were two exceptional items of expenditure in the year. Support costs include £28,347 for replacing the Klargester and the accompanying water treatment system. Administration costs indude a fee of £4,200 paid to Savills for an independent 'red book, {definitive} valuats'on of Pigotts (see below).
MUSIC CAMP TRUST The proportion of MCT assets held in investments reduced substantially during the year because the Chartties Ahl Foundation {CAF) decided to close the investment funds in which the charty was an investor. The IFSL CAF Equty Fund. Fixed Interest fund and Legal & General CAF UK Equitrack funds were liquidated and a total of £94,290 was transferred to the charity's current account, with the charity recording a realised loss of £2,818 in the process {2023'. unrealised gain of £1,959). The remaining investmerts are held for long temi income and growth, and the fluctuations do not impact Mcfs day to day finances. Mcfs subscription income has remained unaffected. Roof and Floor fundraising appeal In early 2019. the charity launched a fijndraising appeal to renew the 'Main Barn, roof. By September 2021, the roof had been replaced and several related pieces of work completed with total expendtture standing at £83,851. At 30 April 2023. the Roof Appeal reserve fund stood at £57,331 and no expenditure was incurred in the cuent year. However. a new appeal was launched in 2024 to repair the floor of the bam ('Fix the Floorf). which raised £5,826 Wrth £2,790 spent on repairs, the remaining £3,036 was added to the Roof (now Roof and Floor, or 'Barn') restricted fund. Rlsk Review The trustees have considered the risks to which the charity is exposed, which mainly concem potential damage to the library and the instruments owned by MCT, and the vulnerability of the charity's investments to stock market fluctuations. The trustees are satisfied that il has taken appropriate and adequate measures to manage these risks, which include having in place insurance, holding a spread of investments and monitoring investment perfDrynan. . Reserves Policy The trustees of MCT review the ¢harity's reserves policy annually. MCT holds reserves for two main reasons. The first is to cover variations in expenditure over time. While Mcfs annual income is relatively stable, cash expenditure (both Gapital and revenue} can often be lumpy and may not be covered by the income generated in a single year. To date, the trustees have aimed to spend, on average. an amount equal to the regular income of the charity, recognising that expenditure may fluctuate from year to year, and that regular income may be supplemented by one-off donations and legacies. The trustees of MCT review the charity's reserves policy annually and recognises spending may increase as it fa$ additional spending commitments associated with the proposed purchase of Pigotts. Secondly, MCT has buitt up arKf held reserves Sin its InptIOn in order to have a fund available for possible future expendrture, to mrtigate any material change of circumstances and to allow the activities of MCT to continue. Mcfs reserves would at that point serve as the 'seed capital, for any major required fund-raising exerase. The trustees recognise that the extent of Mcfs current activities depend part on the use of the facilities available at Pigotts, which it does not own. In earfy 2023, it became clear that MCT may no longer be able to use Pigotts for its activities in the fLrture due to the proposed sale of Pigotts by the family that had generously hosted Music Camp since 1966 sin then a suwroup of the trustees have played a leading role in canvassing the views of the members of MCT and the wider communty as well as gathering information from experts Wtthin the community, as well as, where appropriate. seeking professional advi in order to determine the most appropriate way fomard. As at September 2024. and sUPPOrted by that extensive research, it was agreed by the council of MCT to proceed with a proposal to fundraise for and undertake a purchase of Pigotts. As a result. it is likely that the scope and aGtivtties of the charity are likely to evolve significantly in the ftrture.
MUSIC CAMP TRUST The charity also holds a violin as a mixed-motive investment. As noted above, the charity has a restricted rw6erve for funds to be spent on renewal of the main barn roof and floor, with any surplus funds being used for other nesSary repairs and renewals of facilities used principally by Music Camp. The charity also holds a Bursary fund. This is a restricted income reserve for donations mad6 on the condrtion or expectation that the income will be used to help participants of limited means with the cost of Main Camps and, rf the fund allows, Camp weekends. No bursaries have been made from the fund sino 2020. Tax Status As a registered charity the charity is able to recover basic rate income tax on donations paid under Gfft Aid by UK taxpayers. A Gift Aid claim of £1.266, relating to the tax year 2022123 (2022." £1.436 relating to 2021122) was submitted and received in the current year. Appointment of Independent Examlners As a loVr-In¢0M6 charity under the threshokls laid out in sections 144 and 145 of the Charities Act 2011, Music Camp Trust is exempt from the requirement of an audit. Th11e not strictly neSSary this year as receipts were below the threshold of £25,000, an independent examination of the charity's accounts for the year ended 30 April 2023 has been carried out as in previous years. The report of the independent examiner is provided on page 7. Approved by the trustees on ....... ... . and signed on their behalf by: S Laughton Chairn)an
MUSIC CAMP TRUST INDEPENDENT EXAMINER'S REPORT TO ThE TRUSTEES OF MUSIC CAMP TRUST I report to the charity trustees on my examination of the a(y>Junts of the charity for the year ended 30 April 2024. whbch are set out on pages 8 to 13. R•8ponslbllltl•s and bAsI8 of rewt As the charity trustees of the Trust. y(wJ are responsible for the preparation of the aCunts in accordance with the r4uirements of Ihe Charities Act 2011 ('the Arf). I reFQrt in re5ct of my examination of the Trust's accounts carried out under saction 145 of the 2011 Act and in carrwng out my examinatM)n. I have followed the aPIcable Directions given by the Charity Commissicffi under section 145(5){bl of the Act. Ind•pond•nt examlnorfs stat•ment I have completed my examination. I cx)nfinn that no material matters have come to my attention whth gives me cause to beKeve that. in any material respèct: accounting ree(xds were rth kept in ac(xydano ryth section 130 of the Act: or the a(£¢xJnts do I)t a(Y>Jrd with the arxounting records. I have no concems and have coffe auosg no other matters in Ccffinection the examination to which attents'on should be drawn in offler to enable a proper understanding of the accounts to te reached. Giles Taylor MA M 65 Dresden Road. LoThd N19 38G Oale.. ..2024
MUSIC CAMP TRUST RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 30 APRIL 2024 Notes 2024 Total funds 2023 Total funds Unrestricted Restrrted funds funds Receipts Donations and gaCleS ReguLar subscriber donations Other *acS and donations Fundraksing actNities Gfft Avj 5,826 1,497 5.826 7,323 5,934 1,250 5,826 Charitabb actiittEs Income from Reunk)n Must¢ ban donat•Jns 3,225 3,225 3,295 Investments Bank interest receNed Other interest receNed 178 178 235 178 178 239 Gross income 13,232 5,826 19,058 13,191 Asset and Investmont sales 94,290 94,290 Total rerAipts 107.522 4826 113.348 13.191 Payments Grants Charitabb actrrfitEs Fundraising actpiities Support costs Administration costs (3,569) (2,790) (6,359) (6,478) (30.516) (30,516) (2,432) 231 Asset and Investment purchas (280) (280) (3,022) Total payments (38.565 12.790) (41.3551 (12,163) Net of receiptsi(payments) Transfers between funds Cash funds last yearend 68,957 3,036 71.993 1,028 52,344 57,847 110,191 109,163 Cash funds thls year end 10 121301 110 191
MUSIC CAMP TRUST STATEMENT OF ASSETS AND UABIUTIES AT 30 APRIL 2024 Note 2024 Total fvnds 2023 Total funds Unrestricte Restricte funds fiJnds Cash funds Cash at bank and in harKI Notice deposts (up to 3 months, notice) Totsl cash funds 10 61,462 60.883 122,345 20,530 59 839 89 661 60883 182184 110191 Other rmnetary assets Debtors Investm&nt assets Financial investments olin held as an investrnent 19.499 19.499 116,607 21 300 21300 40 799 137 907 A888ts retained for the charitys own use hJsical instruments at cost Jsic Library at cost 55,677 55.677 55.677 Liabillties Creditors Approved by the trustees on .... .. . 2024 ar¥J signed on their tehalF. S LAUGFrroN - Chaimmn
MUSIC CAMP TRUST NOTES TO AccouKfs FOR THE YEAR ENDED 30 APRIL 2024 Basis of aecounting Charities registered in ErolarKI and Wales that are not Ctjnpanies are allNed under section 133 ofthe Chartties Ac* 2011 to prepare receipts and payments acUnts kyovided the charity's gross income rs not over £250,0(KJ. These accounts have keen prepared on this basis in accordance with the guidelines provided by the Chartties Commission. ReIpts and payments accounts are shorter and simpler than the more usual accrual acLounts that must comply wrth the disdosure requirements of MpanY law and accounting standards. 2. Accounting policies Receipts and payments Income and expenditure a recognised on a reIpts and payments basis. meaning that items are recorded only when they are received or paid and no attempt is made to match accounting transactions with the undedying activty taking pla in the period. b) Debtors and creditors Under reIpts and payments accounting, there are no debtors or creditors and no prepayments or accruals. However, were the charity to grant or receive a long-term loan, this would be shown. respedively. as an asset or liabilty. Investments Investments are shown at market value. Financial investments are shown at the mid-market priGe or declared unit pri at the end of the period and the change in value is accounted for as an adjustment to reserves. (fhis movement is nerther shown in the statement or receipts and payments nor in the statement of assets and liabilities.) The violin held as an investment is shown at market value and is independently valued every fve years. Its first valuation was in April 2021 and it will revalued to market value again prior to the next year end in April 2026. d) Assets retained for the charity's use Assets retained for the chartty's own use [rentlY comprise musical instruments and the music library. Assets such as buildings, fixtures. ffttings and equipment at Pigotts paid for by the charity are treated as charrtable expenditure as they are not owned or controlled by the charity itself. Musical instruments and the music library are shown at cost, as the trustees consider that to obtain a valualion would be impractical. 10
MUSIC CAMP TRUST 3. Charitable activities 2024 2023 Contribution to rnus hire at Camps Kitchen equipment Marquee Reunion costs Piano removals oustic shElds Barn floor {roof appeal restrKted fund) Total 2,8 2,800 149 2,680 474 295 4. Support costs 2024 2023 Subscriptions (Making MusiclNFMS) Insurance Library stationery Comput9 costs (ac¢ountNig software) Kjargester replacement 421 854 870 324 492 360 28,347 Total 5. Adminlstration costs 2024 2023 PvJotts valuatKJn fee Sundry expenses Total 4,2(MJ 231 231 Relatod partles There were no out-of-pocket expenses incurred by trustees and reimbursed this year (prior year. £nil). 11
MUSIC CAMP TRUST Financial Invostments 2024 2023 Market value at 30 Pwrd 2023 Proceeds of sales of investments Revaluation gainl(loss) maet value at 30 Aprll 2024 116,607 (94,290) 114,648 19 499 116 607 8. Vlolln held as Investment 2024 2023 C F Langonet violwi (at market value) Total 9. Assets retained for the charity's own use Musical MUSIC Instruments Librdry Total At 1 May 2023 Addith)ns Disposals At 30 April 2024 55.6TI 43.296 280 98,973 280 10. Restricted funds Cumulativè 2022-23 2023-24 Total 2018-21 2021-22 Barn fund brought forward Receipts in the year Fundrasing payments Roof & related payments 137,954 1.200 57,306 25 57,331 5,826 142.272 (2,315) (2,003) 149,323 (2,315) {2.790) (86,641) (81,848) Barn fund carr*d forward Bursary fund 137.954 516 57,306 516 57,331 516 60,367 516 60,367 516 Total restrthd funds The 'Fix the Floorf appeal in 2024 has been added to th8 2018 Roof appeal as a 'Bam' restricled fund. 12
MUSIC CAMP TRUST 11. Barn roof amount rncoverable MCT does not own buildings. fixtures or ffttings at Pigotts and these are accordingly treated as expendrture by the charity rather than assets of the chanty (see accounting policy 2d). The bam roof expenditure was an eXptionallY large instance of this. Under an agreement signed in December 2020. the owners of Pigotts guaranteed that Music Camp could continue to use the bam for a minimum of 7 years from the date the works were completed (30 June 2021) and woukl Compensate MCT rata rf the bam became unavailable during that period. The amount recoverable at any point in time rf Pigotts ased to be available to Music Camp is a contingent asset of the charity. Apportioned by month, the amount that would be recoverable at 30 April 2024 is 50184ths of the roof appeal expenditure to date (£83,851), ie £49,911 (2023: 62184ths, ie £61,890). 13