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2024-08-31-accounts

The Charity Registration Number is :- 281016

Ernest Read Trust

Report and Accounts

31 August 2024

Ernest Read Trust

Report and accounts for the year ended 31 August 2024

Contents

Page
Charity information 1
Trustees' Annual Report 2
Statement of Trustees' responsibilities 6
Independent Accountant's Report 7
Funds Statements:-
Statement of Financial Activities 9
Statement of Financial Activities - Prior Year statement 10
Statement of total recognised gains and losses 11
Revenue Funds 12
Income and Expenditure account 13
Balance sheet 14
Notes to the accounts 15

Ernest Read Trust

Trustees' Annual Report for the year ended 31 August 2024

The Trustees present their Report and Accounts for the year ended 31 August 2024.

Reference and administrative details

The charity name.

The legal name of the charity is:- Ernest Read Trust.

The charity's areas operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 281016.

The charity does not operate in any overseas jurisdictions.

Legal structure of the charity

The charity is constituted as an unincorporated charity, established by Trust Deed.The governing document of the charity is the Trust Deed establishing the charity.

The governing document is dated 24 June 1980

There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.

The trustees are all individuals.

The principal operating address of the charity is:-

6 Jewel Close Grange Park, Swindon Wiltshire, SN5 6HP

The Trustees in office on the date the report was approved were:-

Geraldine Barnard - Chair David Barnard

1

Ernest Read Trust

Trustees' Annual Report for the year ended 31 August 2024

The following persons served as Trustees during the year ended 31 August 2024 :-

The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.

Geraldine Barnard - Chair

David Barnard

Patricia Fletcher

Rowena Hay Adrian Long

Objects and activities of the charity

The purposes of the charity as set out in its governing document.

The principal objective of the Ernest Read Trust is to encourage the advancement of music education. By doing so, it also follows the ideals of the Ernest Read Music Association (ERMA), itself set up to continue the work of Ernest Read. Since the closure of ERMA, the Ernest Read Symphony Orchestra has continued to operate independently. The trustees now have as their main aim, the support of this orchestra.

The Trustees have had regard to the Charity Commission's guidance on public benefit and consider that the principal objective of the Charity is consistent with the provision of public benefit.

The main activities undertaken in relation to those purposes during the year.

The Trust supported Ernest Read Symphony Orchestra with a total grant of £17,700 during the 2023-24 season.

ERSO started the 2023-24 season with a performance of Beethoven's 6th symphony. This concert also included the overture from Die Zauberflote, Haydn's cello concerto in C major with soloist Adam Cubitt (runner-up in the 2023 ERSO soloist competition).

The orchestra once again worked with a members of Camden Music Service. They undertook two workshop concerts with Camden training orchestra and Camden sinfonia.

ERSO performed their first opera project 'Open your eyes to opera' a concert presentation of Ravel's one-act comedic opera "L'heure espagnole". This new initiative introduced people to opera and gave 5 young opera singers an oppurtunity to perform with an orchestra.

ERSO concluded the season with a commanding performance of Shostakovich's epic 10th symphony. This ambitious concert also included Bacewicz Overture for orchestra and SaintSaens's Introduction and Rondo Capriccioso with Laura Kim as soloist (winner 2024 ERSO soloist competition).

2

Ernest Read Trust

Trustees' Annual Report for the year ended 31 August 2024

The main activities undertaken during the year to further the charity's purpose for the public benefit.

The Trust supported the appointment of assistant conductor Olivia Tait over two seasons 202224. Olivia has continued to conduct during the season, such as the performance of the overture to Mozart's Die Zauberflote.

The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.

The main achievements and performance of the charity during the year.

The trustees have found that the managed funds operated by CCLA are an appropriate form of investment for the Ernest Read Trust.

The Trust had a smaller investment in the Fixed Interest Fund, and a larger part in the Ethical Invest Fund (since July 2021). In February 2023 the Trust sold the Fixed Interest Fund and consolidated all the funds in the Ethical Investment Fund.

The Ethical Investment Fund showed an increase of £71,808.29 (2023 increase of £30,515.08). Overall, the Trusts investment funds show an increase of £80,673 (2023 -£12,633.11).

The difference the charity's performance during the year has made to the beneficiaries of the charity.

The charity's performance has continued to make a significant impact on the advancement of music education. It's performance has continued to support the Ernest Read Symphony Orchestra.

The degree to which the achievements and performance during the year have benefited wider society.

The achievement and performance of the charity during the year has allowed the Ernest Read Symphony Orchestra to devote two performances to working with children. As a Camden-based Orchestra, they work with children and young people within the borough. They have developed strong and lasting relationships with their partners,Camden Music Service and Camden School for Girls. Their partners' local knowledge means that they are able to involve children in the most beneficial, relevant and accessible ways possible to create highly successful concerts.

Structure, governance and management of the charity

The methods used to recruit and appoint new charity trustees.

Trustees are apppointed (or replaced) by invitation of the Trustees themselves.

Bankers

Accountants

CCLA Investment Management, COIF Charity Funds, One Angel Lane, London, EC4R 3AB.

MPN Chartered Accountants, Unit 1 The Byre, Hook Street, Royal Wootton Bassett, SN4 8EF.

3

Ernest Read Trust

Trustees' Annual Report for the year ended 31 August 2024

Financial review

The charity's financial position at the end of the year ended 31 August 2024

The financial position of the charity at 31 August 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

Endowment Revenue Funds
Total Endowment funds
Total Funds
Unrestricted Revenue Funds available for
the general purposes of the charity
Net income		 2024
£
80,393
62,821
853,436
853,436
916,257
 2023
£
(12,634)
54,236
781,628
781,628
835,864

Financial review of the position at the reporting date, 31 August 2024 .

The trustees consider the financial performance by the charity during the year to have been satisfactory.

Income showed a slight increase this year at £26,764.56 (compared to £24,933.45 in 2022-23.) COIF interest increased from £1,464.48 in 2022-23 to £2,746.13 in 2023-24.

The annual grant to the Ernest Read Symphony Orchestra was maintained at £17,700 and included £1,200 for the continued support of a female assistant conductor. There was a surplus of income over expenditure of £9,064.56 (compared to £7,233.45 in 2022-23).

Policies on reserves.

It is the policy of the Trust that unrestricted funds which have not been designated for specific use should be maintained at a level equivalent to between three and six months expenditure.

The Trustee's consider that reserves at this level will ensure that, in the event of a significant drop of funding, they will be able to continue the Trust's current activities.

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

4

Ernest Read Trust

Trustees' Annual Report for the year ended 31 August 2024

Plans For the Future

Summary of plans for the future and the trustees' perspective of the future direction of the charity.

The Trust will continue part sponsoring ERSO section leaders. This fund is now included within the general sponsorship. The Trust has also agreed to support ERSO's Female Assistant Conductor initiative for a further two seasons. The Trust will provide £1,200 each season for 2024 to 2026. The orchestra has recently appointed Alice Knight as their new assistant conductor.

Details of The Independent Examiner

Mike Neale MPN Chartered Accountants Unit 1 The Byre Hook Street Royal Wootton Bassett Wiltshire SN4 8EF

5

Ernest Read Trust

Trustees' Annual Report for the year ended 31 August 2024

Statement of Trustees' Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .

In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-

recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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.

The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.

This report was approved by the board of trustees on 7 March 2025.

Geraldine Barnard Trustee

6

Ernest Read Trust

Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 31 August 2024

I report to the Trustees on my examination of the financial statements of the charity on pages 9 to 19 for the year ended 31 August 2024 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) adapted to meet the needs of unincorporated organisations, as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 15.

Respective responsibilities of the Trustees and the Independent Examiner and the basis of the

As described on page 6, you, the charity's Trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.

The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-

a) examine the financial statements of the charity under Section 145 of the Act;

b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.

Basis of Independent Examiner's Statement and scope of work undertaken

I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. 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 setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide

Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.

7

Ernest Read Trust

Independent Examiner's Statement, Report and Opinion

Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-

This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;

and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-

accounting records were not kept in respect of the charity as required by with Section 130 of The Charities Act 2011;

the financial statements do not accord with those records; or

the financial statements 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;

have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).

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 financial statements to be reached.

Signed:-

Mike Neale - Independent Examiner

MPN Chartered Accountants

Unit 1 The Byre Hook Street Royal Wootton Bassett Wiltshire SN4 8EF

This report was signed on 14 March 2025

8

Ernest Read Trust - Statement of Financial Activities for the year ended 31 August 2024

Statement of Financial Activities for the year ended 31 August 2024

Income & Endowments from:
Investments
A4
Expenditure on:
Charitable activities
B2
Total expenditure
B
Net gains on investments
B4
Net income for the year
Net income after transfers A-B-C
Reconciliation of funds:-
E
Total funds brought forward
Total funds carried forward
SORP
Ref
Net movement in funds		 Current year
Unrestricted
Funds
2024
£
26,765
18,180
18,180
-
8,585
8,585
8,585
54,236
62,821
 Current year
Restricted
Funds
2024
£
-
-
-
-
-
-
-
-
-		 Current year
Endowment
Funds
2024
£
-
-
-
71,808
71,808
71,808
71,808
781,628
853,436		 Current year
Total
Funds
2024
£
26,765
18,180
18,180
71,808
80,393
80,393
80,393
835,864
916,257		 Prior Year
Total
Funds
2023
£
24,933
17,700
17,700
(19,867)
(12,634)
(12,634)
(12,634)
848,498
835,864

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

A Statement of Total Recognised Gains and Losses is included as a primary statement in these accounts.

All the prior year transactions were unrestricted items, and no further analysis is required

All activities derive from continuing operations

The notes attached on pages 15 to 19 form an integral part of these accounts.

9

Ernest Read Trust - Statement of Financial Activities for the year ended 31 August 2024

Income & Endowments from:
Investments
A4
Total income
A
Expenditure on:
Charitable activities
B2
Total expenditure
B
B4
Net income for the year
Net income after transfers
Reconciliation of funds:-
E
Total funds brought forward
Total funds carried forward
Net movement in funds
SORP
Ref
Net gains on investments		 Prior Year
Unrestricted
Funds
2023
£
24,933
24,933
17,700
17,700
(19,867)
(12,634)
(12,634)
(12,634)
47,003
34,369

 Prior Year
Restricted
Funds
2023
£
-
-
-
-
-
-
-
-
-
-		 Prior Year
Endowment
Funds
2023
£
-
-
-
-
-
-
-
-
801,495
801,495		 Prior Year
Total
Funds
2023
£
24,933
24,933
17,700
17,700
(19,867)
(12,634)
(12,634)
(12,634)
848,498
835,864

All activities derive from continuing operations

A Statement of Total Recognised Gains and Losses is included in these accounts as a separate primary statement

The notes attached on pages 15 to 19 form an integral part of these accounts.

10

Ernest Read Trust - Statement of Financial Activities for the year ended 31 August 2024

Statement of Total Recognised Gains and Losses for the year ended 31 August 2024

Surplus for the year :-
Income from operations before tax in the Statement of Financial Activites
Add/(deduct) non income and expenditure items:-
Unrealised gains on investments
Net Movement in funds before taxation
Funds generated in the year as shown on Statement of Financial Activities
Net excess of income over expenditure from operations before tax		 2024
£
8,585
8,585
71,808
80,393
80,393		 2023
£
7,233
7,233
(19,867)
(12,634)
(12,634)

The notes attached on pages 15 to 19 form an integral part of these accounts.

11

Ernest Read Trust - Statement of Financial Activities for the year ended 31 August 2024

Revenue accumulated funds

Unrestricted
Restricted
Funds
Funds
2024
2024
£
£
Accumulated funds brought forward
54,236
-
8,585
-
62,821
-
Closing revenue funds
62,821
-
Summary of funds
Unrestricted
Restricted
and
Funds
Designated funds
2024
2024
£
£
Revenue accumulated funds
62,821
-
Recognised gains and losses
before transfers		 Endowment
Funds
2024
£
781,628
71,808
853,436
853,436
Endowment
Funds
2024
£
853,436		 Total
Last year
Funds
Total Funds
2024
2023
£
£
835,864
848,498
80,393
(12,634)
916,257
835,864
916,257
835,864
Total
Last Year
Funds
Total Funds
2024
2023
£
£
916,257
835,864

The notes attached on pages 15 to 19 form an integral part of these accounts.

12

Ernest Read Trust - Statement of Financial Activities for the year ended 31 August 2024

Ernest Read Trust

Income and Expenditure Account for the year ended 31 August 2024 as required by the Companies Act 2006

Income
Income from investments, other than interest receivable
Interest receivable
Gross income in the year before exceptional items
Gross income in the year including exceptional items
Expenditure
Charitable expenditure, excluding depreciation and amortisation
Governance costs
Total expenditure in the year
Tax on surplus on ordinary activities
Retained surplus for the financial year
Net income after tax in the financial year
Net income before tax in the financial year
Investment income		 2024
£
24,019
2,746
26,765
26,765
17,700
480
18,180
8,585
-
8,585
8,585		 2023
£
23,469
1,464
24,933
24,933
17,700
-
17,700
7,233
-
7,233
7,233

All activities derive from continuing operations

In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.

The notes attached on pages 15 to 19 form an integral part of these accounts.

13

Ernest Read Trust - Balance Sheet as at 31 August 2024

Notes
SORP
Ref
2024
£
Fixed assets
A
Investments held as fixed assets
5
A4
853,436
Total fixed assets
853,436
Current assets
B
Cash at bank and in hand
B4
63,301
54,236
Creditors: amounts falling due
within one year
6
C1
(480)
-
Net current assets
62,821
The total net assets of the charity
916,257
Endowment funds
Endowment Revenue Funds
9
D1
853,436
781,628
853,436
Restricted funds
-
Unrestricted Funds
Unrestricted Revenue Funds
9
D3
62,821
54,236
62,821
Designated Funds
-
Total charity funds
916,257
The total net assets of the charity are funded by the funds of the charity, as follows:-		 2023
£
781,628
781,628
54,236
835,864
781,628
-
54,236
-
835,864

The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA.

The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.

The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 8.

The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

Geraldine Barnard Trustee Approved by the board of trustees on 7 March 2025

The notes attached on pages 15 to 19 form an integral part of these accounts.

14

Ernest Read Trust

Notes to the Accounts for the year ended 31 August 2024

1 Accounting policies

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

Risks and future assumptions

The Trust minimises its use of estimations in preparing these statements where possible in order to minimise any risk of mistatement. The Trustees have assessed the major risk factors to which the Trust is exposed and are satisfied that systems are in place to mitigate exposure to those risks.

The charity is a public benefit entity.

Policies relating to expenditure on goods and services provided to the charity.

Recognition of liabilities and expenditure

A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.

Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.

Policies relating to assets, liabilities and provisions and other matters.

Fixed Asset Investments

Fixed asset investments in quoted shares, traded bonds, investment properties and similar investments are shown initially at cost upon acquisition and at their market value at the balance sheet date at the end of the financial period. Investment properties are not depreciated.

Fixed asset investments in unlisted equities are shown at the balance sheet date at the best estimate of their market value, where practicable. Where valuation techniques are considered unreliable or where, in the opinion of the trustees, the costs outweigh the benefits to the users of the accounts, the investment is included at cost, and a review is undertaken at each year end as to whether the asset should be written down.

All gains on fixed asset investments, whether realised or unrealised, are included in row B4 of the Statement of Financial Activities.

Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

Cash and bank balances

Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

There are no designated funds.

There are no restricted funds.

Endowment funds are funds donated to the charity, where the funds shall be invested and the charity shall enjoy the benefit of the income from the capital fund, but where restrictions are placed on the use of the capital.

2 Liability to taxation

The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

3 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

15

Ernest Read Trust

Notes to the Accounts for the year ended 31 August 2024

4 Remuneration and payments to Trustees and persons connected with them

No trustees or persons connected with them received any remuneration from the charity, or any related entity.

5 Investments held as fixed assets

Carrying values of investments
At 1 September 2023
Revaluation at 31 August 2024
At 31 August 2024
Analysis between fair value and historical cost
Investments as above held at fair value
6
Creditors: amounts falling due within one year
Accruals
7
Income and Expenditure account summary
At 1 September 2023
Surplus after tax for the year
At 31 August 2024
8
Particulars of how particular funds are represented by assets and liabilities
At 31 August 2024
Unrestricted
funds
£
Investments at valuation:-
Fixed asset investments
853,436
Current Assets
(790,135)
Current Liabilities
(480)
62,821
At 1 September 2023
Unrestricted
funds
£
Investments at valuation:-
Fixed asset investments
781,628
Current Assets
(727,392)
54,236		 Investments
in
subsidiaries
£
-
-
-
-
Designated
funds
£
-
-
-
Designated
funds
£
-
-
-		 Listed
investments
£
781,628
71,808
853,436
853,436
Endowment
funds
£
-
853,436
-
853,436
Endowment
funds
£
-
781,628
781,628		 Other
Classes of
Investment
Total
£
£
-
781,628
-
71,808
-
853,436
-
853,436
2024
2023
£
£
480
-
2024
2023
£
£
855,731
848,498
8,585
7,233
864,316
855,731
Restricted
Total
funds
Funds
£
£
-
853,436
-
63,301
-
(480)
-
916,257
Restricted
Total
funds
Funds
£
£
-
781,628
-
54,236
-
835,864

16

Ernest Read Trust

Notes to the Accounts for the year ended 31 August 2024

9 Change in total funds over the year as shown in Note 8 , analysed by individual funds

Unrestricted and designated funds:-
Unrestricted Revenue Funds
Total unrestricted and designated funds
Endowment funds:-
Endowment Fixed Asset Funds
Total endowment funds
Total charity funds
10 Analysis of movements in funds over the year as shown in Note 9		 Funds
brought
forward from
2023
£
54,236
54,236
781,628
781,628
835,864		 Movement
in funds in
2024
See Note 10
£
8,585
8,585
71,808
71,808
80,393		 Funds
carried
forward to
2025
£
£
-
62,821
-
62,821
-
853,436
-
853,436
-
916,257
Transfers
between
funds in 2024
Unrestricted and designated funds:-
Unrestricted Revenue Funds
Endowment funds:-
Endowment Fixed Asset Funds		 Income
2024
£
26,765
26,765		 Expenditure
2024
£
(18,180)
-
(18,180)		 Other
Gains &
Movement
Losses
in funds
2024
2024
£
£
-
8,585
71,808
71,808
71,808
80,393

17

Ernest Read Trust

Detailed analysis of income and expenditure for the year ended 31 August 2024 as required by the SORP 2015

This analysis is classsified by conventional nominal descriptions and not by activity.

11 Investment income
Dividend Income
Bank Interest Receivable
Total investment income
A4		 Current year
Unrestricted
Funds
2024
£
24,019
2,746
26,765		 Current year
Restricted
Funds
2024
£
-
-
-		 Current year
Endowment
Funds
2024
£
-
-
-		 Current year
Total Funds
2024
£
24,019
2,746
26,765		 Prior Year
Total Funds
2023
£
23,469
1,464
24,933

12 Expenditure on charitable activities- Grant funding of activities

Current year
Current Year
Unrestricted
Funds
2024
£
17,700
Total grantmaking costs
B2c
17,700
Current year
Current Year
Unrestricted
Funds
2024
£
Ernest Read Symphony Orchestra
17,700
17,700
Other Expenditure - Governance costs
Current year
Current Year
Unrestricted
Funds
2024
£
Independent Examiner's fees
480
Total Governance costs
480
Breakdown of Grants made to organisations
Grants made to organisations		 Current year
Restricted
Funds
2024
£
-
-
Current year
Restricted
Funds
2024
£
-
-
Current year
Restricted
Funds
2024
£
-
-		 Current year
Endowment
Funds
2024
£
-
-
Current year
Endowment
Funds
2024
£
-
-
Current year
Endowment
Funds
2024
£
-
-		 Current year
Total Funds
2024
£
17,700
17,700
Current year
Total Funds
2024
£
17,700
17,700
Current year
Total Funds
2024
£
480
480		 Prior Year
Total Funds
2023
£
17,700
17,700
Prior Year
Total Funds
2023
£
-
-

13 Other Expenditure - Governance costs

18

Ernest Read Trust

Detailed analysis of income and expenditure for the year ended 31 August 2024 as required by the SORP 2015

14 Total Charitable expenditure
Current year
Current Year
Unrestricted
Funds
2024
£
Total grantmaking costs
B2c
17,700
Total Governance costs
B2e
480
Total charitable expenditure
B2
18,180
All the expenditure in the prior year was unrestricted.
Prior Year
Prior Year
Unrestricted
Funds
2023
£
Total grantmaking costs
B2c
17,700
Total charitable expenditure
B2
17,700		 14 Total Charitable expenditure
Current year
Current Year
Unrestricted
Funds
2024
£
Total grantmaking costs
B2c
17,700
Total Governance costs
B2e
480
Total charitable expenditure
B2
18,180
All the expenditure in the prior year was unrestricted.
Prior Year
Prior Year
Unrestricted
Funds
2023
£
Total grantmaking costs
B2c
17,700
Total charitable expenditure
B2
17,700		 Current year
Restricted
Funds
2024
£
-
-
-
Prior Year
Restricted
Funds
2023
£
-
-		 Current year
Endowment
Funds
2024
£
-
-
-
Prior Year
Endowment
Funds
2023
£
-
-		 Current year
Total Funds
2024
£
17,700
480
18,180
Prior Year
Total Funds
2023
£
17,700
17,700		 Prior Year
Total Funds
2023
£
17,700
-
17,700

19