Charity reglstratyon number.. 281016 ERNEST READ TRUST TRUSTEES, REPORT AND UNAVDITED FINANCIAL STATEMENTS FOR THE YEAR Ef4DED 31 AUGUST 2025 MPN Charted Accounrants
Ernest Read Trust Contents Page Trustees, Report Independent Examiner's RepDrt Statement ol Financial Activrties Con7parative Statement of Financial Activities Starement of F5naTrc1 P051tion Notes to the Financial Statement$ 9-12 The following pages do not form part of the statutory accounts= Det6ileLI Statement of Finantsal A¢tivities 13
Ernest Read Trust Trustees. Report For The Year Ended 31 August 2025 The trustee5 prent thttr rekK)rt and the financial Statements for the year enoeil 31 August 2025. Objertives and Activities Aims and Objertives The purposes Ol the ¢harlty a$ Set outin 1¢$ 9overniftg do¢umen¢ The principle objective of the Ernest Read Trust 15 to encoui4ge the advancement of music education. By doin9 SO, It also folloi%s the Ideals of the Ernest Reèd Mu51r A5SQClation If RMAI. Itself set up to continue the work of Ernest Read. Sif>ce the Closu of ERMA, the Ernesr Read Symthony Orchestra has conbsu¢J to operate independently. The tru5tee5 now have as thekr rnain aim. the support of this orchestra_ 5i9nlficant Artivities The main activlt1•5 undert•kén In r•l•tlon to tfve purposes durln9 th• ywr. The Trust supported the Ernest Read Symphony Orchestra with a total grant of £l7.71XI dunng the 2024-25 season. FuJing fft)m the Trust has enabled the Emesr Re&J Symphony Orchestrn io work 44gain with children In the b¢rough of Camden. It ha5 also enabled them to develop the relatnShip Wifh their main concert venue. St johns Churih Watedo¢. bvho nave encouraged their local resK1wts to Join the audience. Public Benefit The mairt activltles undertaeR thitrthg the ye•r to further the dJarity'spurp•se for the publlc benellL The trust supported the apintMe of a nev4 05$tant C+ywJurtor. Alice KnighL for t%W 5ea50rs 2024-26. The Trustees have had regard to the Chanty Commission's gu#Jano on wblic berfit an¢J Cor[der that tlE principal objettjve of the Charity Is con>stent with the provisK¢n of publit beneht. A¢blevements and Pertorniance Main Achie¥ements The main aehievements •ndperfornMnre of the chaiityduring the year. The trustees have fouThJ that the managed fvn¢ts operted by CCLA an appropnate forni of Inve5tTr£nt for the Emest Read Trust. The Ethic31 Investrnent Fund initially showed an Increase of £4.227.25. This was folbwed by a decrease of £38.539.31 between February and August 2025. gving an overall ¢Jecrea5e of £34,312.06 over the year 31 Au9USt 2024 to 31 Au9USt 2025 12024 Irrease of £7L.808.291. Overall, the Trusts InVestmt funds S>W a decrease of £25.$49. (2024 Irease of £80.872.851. The difference the charlty's perforM•Rj 41urtn9 the yer Inade to the benellclarles olthe charlty. The chanty's perfomiance has Continued to make a svjnificant Impart on the advancernent of music education. Its performan has continued to suwirt Ihe Emest Read Symphony Or(hestré. The degree to which tlw Khlwements andperlornianee during the y••r h•v¢ b¢n¢rrft•d wider society. Durin9 the 2024-25 seasm. ERSO once again rdn a cornposefs. competrtKJn a )I01sts, compÈtition. TThey worked with ChIren at Camden Music Servite. with thwr new assisiant conductor. Ale KnKJht. conducting. They Intrcéuced sorne ne orks or Iittle-knowll works ISeren&e by Grnnt Sfdl," Vienna c.1825 Cojoufisert by Nichc4as Gawleyl. Muycal hvjhlighrs Included Bruch's Kol Ni¢ra. Petrushka, La Valse and Tod und VeTklaruno. Pa9e I
Ernest Read Trust Trustees. Report (continued) For The Year Ended 31 August 2025 Financiol Review Flnanclal PosStion Financial revi•w of thepositlon at the reportffng date. 31 August 2025. The trustees consider the financial perforrnance by the c*arity duriThJ the year to have been satisfactory. Incorne showed a very rnarginal increase this year É26,942.16 12024 £26.764.561. COIF interest increased froffl £2,746.13 In 2023-24 to £2,786.48 in 2024-25. Tho annual grant to the Emest Read Symphony Orchestra was maintained at £17,700 iluding funding ftjr the a$5&ant conductor. The was a surplus of income over expenditu Of £8,762.16 {In 2023-24 surplus wa$ £9,064.56}. Reserves Poliey It Is the policy of the Trust that unrestricted funds %vhich have not been designated for a specific use should be maintained at a level equivalent to three and six months expenditure. The Trustee'5 consider that reserves at this level will ensure that. in the event of a significant drop of funding tFw will able to continue the Trust'5 current attivities. Plans fgr the fvture. The Trust will continue to part sponsor ERSO section leaders whilst that remalns a productive way to retain mernbership. They will also discuss further method5 of recruitment, such es orchestral alliances, workshops. funding reduced lesson5 for E0 members etc. The Trust Is supporting ERSO'S female assistant conduttor, Alice Knight for two seasons. £1,200 each season for 2024 to 2026. The Trust will use some funding to Improve and develop the Trusts archive. Structure. Governance and Management Trustee Selectlon Methods The methgds t• re¢rult andappolntnew charlty trtsstees. Trustees are appointed lor repliced) by invitation af the Trustees themselves. structure Governaftce and Managernent The Trust Was Set up as a permanent memorial to Ernest Read. by the Ernest Reèd Music A550ciation by a Deed ol Settlement dated 24 June 1980 and reg15tered as a chaty on 11 November 1980. Trustees ar¢ app¢¥inted IOT repla¢¢dl by invitation of the Trustees thernselves. Trustees rnay number 3 up to a maxirnurn of The Trustees meet by Conferen call once a year to set out guidelines for the tonduct of affairs, which are under the day- to-day control of the Secretary. The Trust is independent and has no subsidlaries or tsther relared organisatsons. The TrustÈes are responsible for keeping proper accounting records which disclose with reasonable accuracy at any tirne the financial position of the Trust and enable them to ensure that the financial 5tsternents comply with the Charities Act 1993. The Trustees are a150 responsible for safeguarding Ihe assets of rhe Trust and hence for taking reasonable steps for the prevention and Lletettion of fraud and other Irregulanties. Trustees have assessed the rnajor nsk factor5 to which the Trust Is exposed and are satisfied that systems are in pla to mitigate expo£ure to those risks. Pa9e 2
Ernest Read Trust Trustees, Report (continued) For The Year Ended 31 August 2025 Reference and Administratlve Details Try$tets G Barnard Chair D Barnard P Fietther RHav A Long Charity Number 281016 Prlncipal Address 6 Jewel Close Grange Park Svlindon Wiltshire SN5 6HP Independent Examiner Mike Neale MPN Chartered Accountènts Unit J The Byre Hook Street Royal Wootton Bassett SN4 8Ef Page 3
Ernest Read Trust Trustees. Report (continued) For The Year Ended 31 August 2025 The trust@es' report was approved by the board of trustees and signed on its behalf bv.. G Barnard Trustee Date U14116 Page 4
Ernest Read Trust Independent Examiner's Report to the Trustees of Ernest Read Trust For The Year Ended 31 August 2025 I report to the trustees on my exarnination of the accounts of Emest Read Trust (the Trusii for the year ended 31 August 2025. Responsibiliti¢s and Basis of Report As the charity trustees of the Trust you are responsible for the preparatien of the accounts In accordance With the requiretnents (>f the Chanties Art 2011 1.the Act"). I report In respect of my examinatign of tkE Tru5t'5 accounts carned out under section 145 of the 2011 Act and In carrying out my examination, I have followed rhe applicable Directions given tyy the Chanty Cornmission under SeCtn 14515llbl ¢1 the Act. Inilependent Examlnerfs Statement I havÈ ¢¢mpleted my examination. I confirm that no material matters have come to my attention In connertbon wilh the examination givsng me cause to believe that In any material Spect.. l. accounting recoros were kept In respect of the Trust as required by $ection 130 of the Act. or 2. the accounts do not accord with those rectsrds,. or 3. the accounts do not comply with the applicable requI[ents concerning the form and contents of ¥counts set out In the Chanries (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'tiue and lair view, which Is not a matter conSered as part of an Independent examination. I have no concems and have corne across no other matters In connectson with the examination to Which attention should be drawn sn this report In order to enable a proper understsndirKJ of the accounts to be reached. MffN Mike Neale Date 21$1 April 2026 Unit l The Byre Hook Street Royal Wootton Bassett Wiltshsre SN4 8EF Pa9e S
Ernest Read Trust Statement of Financial Activities For The Year Ended 31 Augllst 2025 2025 2024 Unrestrlcted Endowment funds fund6 Total Total funds Notes INCOME AND ENDOWME14TS FROM: Investments 26,942 26,942 26,765 EXPENDJniRE ON: Raising funds 118,1801 118,1801 118.1801 NET INCOME BEFORE INVESTMENT GAINS 8.762 8,762 134,3121 134,3121 134.3121 125,5501 8.585 71.808 Nei Ilosse5llgain5 ors Inve5trnent5 NETINCOMe 8,762 80.393 NET MOVEMENT 114 FUNDS RecoNciuAllON OF FU14DS: Toral funds brought forward 8.762 134.3121 125,5501 80.393 62,821 853.436 916,257 835.864 TOTAL FUNDS CARIUED FORWARO 71,583 819,124 890,707 916.257 The notes on page5 9 to 12 forrn part of these financ1 statement5. Page 6
Ernest Read Trust Comparatlve Statement of Financial Activities For The Year Ended 31 August 2025 2024 Unrestrlcted Endowment funds Total fun0$ IPICOME ANO ENDOWMENT5 FRO14: Investments 26.765 26.765 EXPE14DZTURE ON: Raising fun(ts (18.1801 118,1801 NET INCOME BEFORE ip4vesTMENT GAINS 8,585 8,585 71.808 Net gèins on Investments 71.808 NET INC014E 8.$85 71,808 80,393 NET MOVEMENT IN FUNDS 8,585 71.808 80,393 RECONCZUATION OF FUNDS: Total funds brought forward 54.236 781,628 83S.864 TOTAL FUNDS CARRIED FORWARD li 62,821 853,436 916.2S7 The notes on pages 9 to 12 fomi part of these finarthl siatemeni
Ernest Read Trust statement of Financial Position As At 31 August 2025 2025 2024 Ilnr¢strirted Endowrhent funds fvnds 7ot•l funds Total funds Notes FIXED ASSETS Investments 819, 124 819,124 853,436 819.124 819,124 853.436 CURRENT ASSETS Cash at bank and in haThJ 72.063 72,063 63,301 72,063 72,063 63,301 Creditor5: Amounts Falllng Due Wlthin One Year io 14801 14801 14801 NET CURRENT ASSETS (LIA8ILmES) 71,583 71,583 62,821 TOTAL ASSETS LESS CVRRENT LIABILrrIES 71.583 819,124 890.707 916,257 NET ASSErs 71.583 819,124 890.707 916,257 FUNDS OF THE CHARfTY Endowfflent Fur5 Unrestricted Funds 819,124 71,583 853,436 62,821 TOTAL FUNDS li 890,707 916,257 On behalf of the ly)ar G Barnord Trustee Date zi1412& The note5 on pages 9 to 12 form part of these financi* $ernents. P•Je 8
Ernest Read Trnst Notes to the Financial Statements For The Year Ended 31 August 2025 l. General Infornwtio Emest Read Trust Is a chantsble Incorporated organisation re915tered Wilh the Charity Cotn¢ni5sion. registered chonty number 281016. The principal address Is 6 Jewel Close, Grange Park, Swindon. Wiltshio. SN5 6HP. 2. Accounting Polities 2.1. Baws of Pr¢TtIOn of Flnanclal Statements The financial statements have been prepared In a¢tordante the Chantles SORP IFRS 102} 'Accounting and Reporring by Charities.. Statement of Recommended Prattice applioble to chants prepar9 their accounts In accordance with the Financial Rer(rting StarKlard applicable In the UK and Republ of lrtland (FPS 1021 leffettive I January 20191" FinancKIl Reporting stsndarl 102 Finala1 lieportir¥J StaThJard applicable In the UK and Republic of Ireland" and the Chant5 Act 2011. The charity is a Benefit Eniity as defined by FRS 102. 2.2. fvnd Acc¢>untlng Fund Ac¢ountin9 unrestritt funds e available for use at of trustees in furtheronce of ttt general obFcb¥es of the charity- Thtre are no destgnat&1 funds. There are no #tted hjnds. En¢lowment funds are fund5 donated to the chanty. the fvnds shall be Invested the charity still wjoy the benefit frorn the capital furM1. where restnLtons are placJ on tr use of the capital. 2.3. Investments Fixed Asset Investments Fixed asset Investrnent5 in qvoted Shares, iradèy TrdS. InvestTrt proptrties and Slrnilar Investments are shjwn inithally at cost uwn acov&tK)n arHI at ttir rnarket value at the bobntr sheet date at the end of the financial period. Investffjent properties are not depreciated. FIKed 3sset Investments in unlsted equities are shown at the balance sheet date at the best estimate of market value, where practicable. Where valution lethn are consHaered ure1b1e or where. In the opinion of the trustees. the Costs outweigh the benefit to the user5 of the acctrjnis. the inve5tffent ¢s Included at cost. and a revY4 is unthertaken at each year end as to whether the asset should tE wnttw dohyn. All gains fixed a$5et investments. whetlEr lISed Cf uftrealtsed, are irKlude(S w¢thin the 5tstement of Financial Acbvityes. 2.4. Cash and Cash Equi¥aleiits Cash and cash equivalents are ba5K finafi1 assets ar incbjde cash In hand and deposits heka at call with banks, other short-term highly liquid Invesiments that mature in more than three month5 from the Oote of ac9U151tK7n and are readily Convertible to a krrt)wn aKUnt of cash with fftswnifKant risk of change in value. arKI bank overdrafts. 2.S. Taxatlo The Trustees con51der that the charity satisfie5 rhe tests set out In Paiagfdph I schedu 6 of the FInan Act 2010 ftsr UK corporation tsx pur. Accordingly. the Charity ts pot¢ntially exempt frorn taxation in respect of Irme or copital gains received within catewries coveTed by ctN3pter 3 part li of the Q)rsx)ration Tax Art 2010 tsr Section 256 of the Taxation of Charge4ble Gains Act 1992. to the extent that suth Incorne or gains are applied exclusively on the specifK Charitab objects of the charty and for no other puYp)se. Value Added Tax )t recoverable by the tharity, and Is therefrKe Inciutled In the revant t05ts In the Statement of Financial Artivrties. ..CONTIt4UED Page 9
Ernest Read Trust Notes to the Financial Statements (continued) For The Year Ended 31 August 2025 2.5. Taxatbon- ¢ontinued 3. Investment Income 2025 2024 Unrestrtcted Unrestricted fund5 funds sank Interest reteivable DIVidends from Investments 2.786 24.156 2,746 24,019 26,942 26,765 4. Analysis of Expenditure 2025 Grant funding of Support activities costs (see note 51 (see note 61 Totsl Ra151ng funds 17,700 480 18.180 2024 Grant fundin9 of Support activities osts 15ee note 51 (see note 61 Total Raising funds 17,700 480 18.180 S. Grants Payable 2025 2024 Grants to Grants to Institutions Institutitsns Ra151ng funds 17,700 17.700 Page 10
Ernest Read Trust Notes to the Financial Statements (continued) For The Year Ended 31 August 2025 6. Support Cts$ts 202$ Ralslng funds Governance c05t5 480 2024 Rai$ing funds Govern?e ¢osts 480 7. Independent Exarnbner's Remuneratio 2025 2024 Independent examinatx>n of the finarKial 5totvnents 480 480 8. A¥erage Number d ernployees Averdge number of employees 4JuriThg the year *os.' NIL 12024.. NIL) 9. Inveslments Listed Cost or Valuation As at I September 2024 fair value adjustments 853,436 134,3121 As at 31 August 2025 819,124 Pro¥lslon As at I September 2024 As at 31 August 2025 Net Book Value AS at 31 August 2025 819,124 AS at i September 2024 853,436 IQ. Creditors: Amourts Falling Due Within One Year 202S 2024 Accruals antj deferred Incor 480 Page 11
ErDe5t Read Trust Notes to the Flnancial Statements (¢ontinu¢d) For The Year Ended 31 August 2025 11. Movement In Funds A$8tl September 2024 Asat31 Expenditure Au9USt 2025 Income Unrestricted funds General.. General unrestncted furKI Endowment fund5 62.821 26,942 118,1801 71,583 Permanent.. Ethical Investment Fund 853.436 134,3121 819,124 Tot•1 fun41s 916,257 26.942 {52,4921 890,707 Asatl Seprember 2023 A••t31 Ixp¢ndlture August 2024 Income Unrestrirted funds Gener61.. General Jnrestricted fund Endowment funds 54,236 26,765 118.1801 62.821 Pefmanenr.. Ethical Investment Fund 781,628 71.808 853.436 Totsl funds 835,864 26.765 53,628 916,257 12. Transaetlons wlth Tru5tee5 None of the trustees received any rernuneration or any trther berfitS from an employment with the charity or a related entity during rh¢ current or previous year. No trustee expenses have been Incurred. 13. Related P¥rty Dlsclosures There have been no related pty transactions In the repon9 penod that require d15cIosure. Page 12
Ernest Read Trust Detailed Statement of Flnancial Activities For The Year Ended 31 August 2025 2025 2024 Total funds Total funds INCOME AND ENOOWMENTS FROM: Investments Dividends from other fixed a55et Investrnents listed Bank Intet re1vable 24,156 2,786 24,019 2,746 26,942 26,765 26,942 26,765 EXPENDITURE ON: Ralsin9 funds Grants to Institutions Independent examiner'5 fees 117.7001 4801 117,7001 14801 118,1801 118,1801 118,180) 118,1801 NET INCOME YIEFORE 114VESTMENT GAINS Net {l0$se5)/gJins on investments 8.762 8,585 Fair value Ideficitllsurplus on revaluation of investments 134,3121 71.808 134,3121 71,808 PIET (expENDrnJRE)IIMCOMe 125,5501 80.393 Page 13