| Page | |||
|---|---|---|---|
| Trustees' annual report |
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| Independent examiner's report to the trustees |
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| Statement offinancial activities |
(including | income and | |
| expenditure account) |
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| Statement offinancial position |
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| Statement ofcash flows |
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| Notes to the financial statements |
| Registered | charity | name | name | The Hoist Foundation | |
|---|---|---|---|---|---|
| Charity registration | number | 283668 | |||
| Company | registration | number | 01582190 | ||
| Principal office and | registered | 63Trematon Place |
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| office | Teddington | ||||
| Middlesex | |||||
| TW11 9RH | |||||
| The trustees | |||||
| Julian Anderson | |||||
| Peter Carter | |||||
| Andrew Clemente | |||||
| Bayan Northcott | |||||
| Noel Periton | |||||
| Prof Arnold Whittall | |||||
| Company | secretary | Peter Carter | |||
| Independent | examiner | Sonia Yeshin, BFPFCA |
| 2022 | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | ||||||
| funds | Total funds | Total funds | ||||
| Note | K | F | ||||
| Income and endowments | ||||||
| Charitable activities |
9,880 | 9,880 | 14,421 | |||
| Investment income |
12,268 | 12,268 | 13,698 | |||
| Total income | 22,148 | 22,148 | 28,119 | |||
| Expenditure Expenditure on charitable |
activities | 7,8 | 123,817 | 123,817 | 119,060 | |
| Total expenditure | 123,817 | 123,817 | 119,060 | |||
| Net expenditure | (101,66S) | ('l01,669) | (90,941) | |||
| Other recognised gains Fair value movements |
and losses | 10,642 | 10,642 | 128,312 | ||
| Net movement in |
funds | (91,027) | (91,027) | 37,371 | ||
| Reconciliation of |
funds | |||||
| Total funds brought | forward | 571,086 | 571,086 | 533,715 | ||
| Total funds carried forward | 480,059 | 480,059 | 571,088 |
| 31 March 2022 | |||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Note | |||||
| Fixed assets | |||||
| Intangible assets | 14 | 1 | 1 | ||
| Investments | 15 | 471,246 | 548,807 | ||
| 4'?1,247 | 548,808 | ||||
| Current assets | |||||
| Debtors | 16 | 364 | 501 | ||
| Cash at bank and in | hand | 210409 | 34,521 | ||
| 21773 | 35,022 | ||||
| Creditors: amounts | falling due within one year | 17 | 12,961 | 12,744 | |
| Net current assets | 8,812 | 22,278 | |||
| Total assets less current liabilities | 480,059 | 571,086 | |||
| Net assets | 480,050 | 571,086 | |||
| Funds ofthe charity Unrestricted funds |
480,059 | 571,086 | |||
| Total charity funds | 18 | 400,058 | 571,085 |
| Year ended 31 March | 2022 | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Cash flows from operating | activities | |||
| Net expenditure | (101,669) | (90,941) | ||
| Adjustments for: |
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| Dividends, interest and rents from investments |
(12,268) | (13.698) | ||
| Other interest receivable and similar income | (1) | |||
| Accrued expenses/(income) | 21? | (289) | ||
| Changes in: |
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| Trade and other debtors | 137 | (73) | ||
| Cash generated from operations |
(113,584) | (105,000) | ||
| Net cash used in operating | activities | (113,584) | (105,000) | |
| Cash flows from investing | activities | |||
| Dividends, interest and rents from investments |
12,268 | 13,698 | ||
| Purchase oftangible assets | 10,291 | |||
| Proceeds from sale oftangible assets | {10,291) | |||
| Purchases ofother investments | (82,132) | {15,152) | ||
| Proceeds from sale ofother | investments | 170,336 | 105,677 | |
| Net cash from investing activities |
100,472 | 104,223 | ||
| Net decrease in cash and | cash equivalents | (13,112) | (777) | |
| Cash and cash equivalents | at beginning | ofyear | 34,521 | 35,298 |
| Cash and cash equivalents | at end ofyear | 21,409 | 34,521 |
| 5. | guarantee i Charitable |
s limited tof10per activities |
member ofthe charity. | |||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Funds | Unrestricted | Total | Funds | |||
| Funds | 2022 | Funds | 2021 | |||||
| Royalties | 9,880 | 9,880 | 14,421 | 14,421 | ||||
| 6. | Investment | income |
| Unrestricted | Total | Funds | Unrestricted | Total | Funds | ||||
|---|---|---|---|---|---|---|---|---|---|
| Funds | 2022 | Funds f |
2021 | ||||||
| Income | from | listed | investments | 12,268 | 12,268 | 13,698 | 13,698 |
| Expenditure on charitable |
activities by fund type | |||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| F | ||||
| Investments | 83,131 | 83,131 | 80,884 | 80,884 |
| Support costs | 40,686 | 40,686 | 38,176 | 38,176 |
| 123,817 | 123,817 | 119,060 | 119,060 |
| Activities | |||||||
|---|---|---|---|---|---|---|---|
| undertaken | Grant | funding | Total funds | Total fund | |||
| directly | of | activities | Support costs | 2022 | 2021 | ||
| K | |||||||
| Investments | 4,650 | 78,481 | 83,131 | 80,884 | |||
| Grants | 36,726 | 36,726 | 34,576 | ||||
| Governance | costs | 3,960 | 3,960 | 3,600 | |||
| 4,650 | 78,481 | 40,686 | 123,817 | 119,060 |
| 9. | Analysis of | suppor | t cost | s | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Support costs | ||||||||||||
| -grants | Total 2022 | Total | 2021 f |
|||||||||
| Staff costs | 21,500 | 21,500 | 21,500 | |||||||||
| Governance | costs | 3,960 | 3,960 | 3,600 | ||||||||
| Professional | fees | 12,575 | 12,575 | 12,576 | ||||||||
| Bank charges | 36 | 36 | 36 | |||||||||
| Fees &music | 2,525 | 2,525 | 360 | |||||||||
| Miscellaneous | 90 | 90 | 103 | |||||||||
| 40,686 | 40,686 | 38,175 | ||||||||||
| 10. | Analysis ofgrants | |||||||||||
| 2022 | 2021 | |||||||||||
| Grants to institutions | ||||||||||||
| NMC | 68,400 | 68,400 | ||||||||||
| Britten Arts | 2,500 | 2,500 | ||||||||||
| LSO | 5,000 | |||||||||||
| St Mary's BF | 1,500 | |||||||||||
| The Purcell School | (from Sue Knussen | Fund) | 5,000 | |||||||||
| GoCompose | (from | Sue Knussen | Fund) | 1,081 | ||||||||
| 78,481 | 75,900 | |||||||||||
| Total grants | 78,481 | 75,900 | ||||||||||
| 11. | Independent | examination | fees | |||||||||
| 2022 | 2021 | |||||||||||
| E | ||||||||||||
| Fees payable | to the | independent | examiner for: | |||||||||
| Independent | examination | ofthe | financial | statements | 3,960 | 3,600 | ||||||
| 12. | Staff costs | |||||||||||
| The average | head | count | of employees | during | the | year was 1 (2021: | 1).The average | number of |
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| full-time equivalent |
employees | during the year | is analysed as follows: | |||||||||
| 2022 | 2021 | |||||||||||
| No. | No. | |||||||||||
| Number ofstaff |
1 | |||||||||||
| No employee | received employee | benefits of more than f60,000 during | the year (2021:Nil). |
| No trustees expenses were reimbursed during the year. Intangible assets |
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|---|---|---|
| Copyrights | ||
| Cost | ||
| At 1 April 2021 and 31 INarch 2022 | ||
| Amortisation | ||
| At 1 April 2021 and 31 March 2022 | ||
| Carrying amount |
||
| At 31 INarch 2022 | 1 | |
| At 31 March 2021 | 1 |
| Investments | |
|---|---|
| Listed | |
| investments | |
| Cost orvaluation | |
| At 1 April 2021 | 548,807 |
| Additions | 82,132 |
| Disposals | (170,336) |
| Fair value movements | 10,643 |
| At 31 March 2022 | 471,246 |
| Impairment | |
| At 1 April 2021 and 31 March 2022 | |
| Carrying amount |
|
| At 31 March 2022 | 471,246 |
| At 31 March 2021 | 848,807 |
| Yea | r ended 3 | 1 | March | 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 16. | Debtors | |||||||||
| 2022 | 2021 | |||||||||
| Other debtors | 364 | 501 | ||||||||
| 17. | Creditors: amounts | falling due | within one | year | ||||||
| 2022 | 2021 | |||||||||
| Accruals and | deferred | income | 12,961 | 12,744 | ||||||
| 16. | Analysis of | charitable | funds | |||||||
| Unrestricted | funds | |||||||||
| At | Gains and | Ai | ||||||||
| 1 | Apr 2021 | Income | Expenditure | Transfers | losses 31 | Mar 2022 | ||||
| F | f. | |||||||||
| General funds | 273,818 | 22,148 | (117,736) | 17$,230 | ||||||
| Fair value reserve | 226,474 | 10,642 | 237,116 | |||||||
| Designated | Fund | |||||||||
| -The Sue | ||||||||||
| Knussen | ||||||||||
| Composers | Fund | 70,794 | (6,081) | 64,713 | ||||||
| 571,086 | 22,148 | (123,817) | 10,642 | 480,069 | ||||||
| At | Gains and | At | ||||||||
| 1 | Apr 2020 | Income | Expenditure | Transfers | losses 31 | Mar 2021 | ||||
| E | K | F | E | E | ||||||
| General funds | 372,259 | 28,119 | (119,060) | (7,500) | 273,818 | |||||
| Fair value reserve | 98,162 | 128,312 | 226,474 | |||||||
| Designated | Fund | |||||||||
| -The Sue | ||||||||||
| Knussen | ||||||||||
| Composers | Fund | 63,294 | 7,500 | 70,794 | ||||||
| 533,715 | 28,119 | (119,060) | 128,312 | 571,086 |
| ended 31 March 2022 Analysis ofnet assets between funds |
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|---|---|---|
| Unrestricted | Total Funds | |
| Funds | 2022 | |
| Intangible assets | 1 | 1 |
| Investments | 471,246 | 471,246 |
| Current assets | 21,773 | 21,773 |
| Creditors less than 1 year | (12,961) | (12,961) |
| Net assets | 480,050 | 400,050 |
| Unrestricted | Total Funds | |
| Funds | 2021 | |
| Intangible assets | 1 | 1 |
| Investments | 548,807 | 548,807 |
| Current assets | 35,022 | 35,022 |
| Creditors less than 1 year | (12,744) | (12,744) |
| Net assets | 571,086 | 571,006 |
| 20. | Financial instrument | s | s | s | s | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| The carrying amount |
for each category offinancial | instrument | is as follows | ||||||||
| 2022 | 2021 | ||||||||||
| E | |||||||||||
| Financial assets measured | at fair value through | income | and expenditure | ||||||||
| Financial assets measured | at fair value through | income and | |||||||||
| expenditure | 471,246 | 548,807 | |||||||||
| 21. | Analysis ofchanges | in net | debt | ||||||||
| At | |||||||||||
| At 1 Apr 2021 | Cash | flows | 31 Mar | 2022 | |||||||
| Cash at bank and in | hand | 34,521 | (13,112) | 21,409 |