## **THE HANDEL INSTITUTE** 

**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** 

**Charity Registration No. 296615** 



## **THE HANDEL INSTITUTE** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

|**CONTENTS**|**Pages**|
|---|---|
|Reference and administrative information|1–2|
|Trustees’ report|3–8|
|Independent examiner’s report|9|
|Statement of financial activities|10|
|Balance sheet|11|
|Notes to the financial statements<br>|12–16|





## **THE HANDEL INSTITUTE** 

## **REFERENCE AND ADMINISTRATIVE INFORMATION** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

|**Trustees**|Professor Donald Burrows|
|---|---|
||Mr Laurence Cummings|
||Linda, Lady Davies|
||Professor John Deathridge|
||Mr John Greenacombe|
||Dr Andrew V. Jones|
||Professor Sir Curtis Price|
||Mr Peter Smaill|
||Dr Ruth Smith|
||Professor Colin Timms|
|**Chairman**|Professor Donald Burrows|
|**Secretary**|Professor Matthew Gardner (Council)|
||Professor Colin Timms (Trust)|
|**Treasurer**|Ms Sylvia Levi, ACA|
|**Council**|Professor Donald Burrows|
||Dr Terence Best (to 10 January 2024)|
||Dr Carrie Churnside|
||Dr Helen Coffey|
||Professor Matthew Gardner|
||Dr Berta Joncus|
||Dr Andrew V. Jones|
||Ms Sylvia Levi|
||Professor Sir Curtis Price|
||Dr Ruth Smith|
||Professor Reinhard Strohm|
||Professor Colin Timms|
||Dr Natassa Varka|
||Dr David Vickers|
||Dr Silas Wollston|
||Dr Lawrence Zazzo|
|**Principal offices**|8 Bittell Lane|
||Barnt Green|
||Worcestershire|
||B45 8NS|
||254A Kew Road|
||Richmond|
||TW9 3EG|



1 



## **THE HANDEL INSTITUTE** 

**REFERENCE AND ADMINISTRATIVE INFORMATION** 

**FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)** 

**Bankers** Co-operative Bank Plc PO Box 250 Delf House Southway Skelmersdale WN8 6WT **Charity registration number** 296615 

2 



## **THE HANDEL INSTITUTE** 

## **TRUSTEES’ REPORT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

The Handel Institute (‘the Institute’) was established by a Declaration of Trust made on 18 March 1987. The Institute is registered with the Charity Commission (registration number 296615) as a charity of which the purpose is the advancement of education through the promotion of the study and appreciation of the music and life of George Frideric Handel, research into the music of Handel and his contemporaries, and the publication of such research. 

The Trustees of the Institute possess a range of skills and experience. New Trustees are appointed by the existing Trustees, taking account of nominations or recommendations received: one Trustee is nominated by the Royal Musical Association and another by King’s College London; nominations and recommendations are made also by existing Trustees and by members of the Council. On appointment, Trustees are given a copy of the Trust Deed and the latest Report and Financial Statements of the Institute, and the Chairman and Secretary provide oral induction training. 

The Trustees delegate the day-to-day running of the Institute and its activities to a Council. The membership of Council currently stands at sixteen, of whom five are also Trustees. Council normally meets three times a year to plan and review the Institute’s publications (including online resources), its conferences and study days, and its collaboration with other bodies, especially the Hallische Händel-Ausgabe (HHA) and the Gerald Coke Handel Foundation (GCHF). 

## **RELATIONSHIPS WITH OTHER ORGANISATIONS** 

The Institute has specific responsibilities in relation to the HHA and the GCHF: 

- (a) under the terms of a collaborative agreement with the Georg-Friedrich-Händel-Gesellschaft, to nominate two persons to serve as British representatives on the Editorial Board of the HHA; 

- (b) arising from the will of Mrs Patricia Coke, which expressed the wish that the Gerald Coke Handel Collection be placed ‘in the care of the Handel Institute’, to nominate two persons to serve as Trustees of the GCHF. 

## **OBJECTIVES OF THE INSTITUTE** 

## **Summary of Objects** 

- (a) the study and appreciation of the music and life of George Frideric Handel; 

- (b) research into the music of Handel and his contemporaries, and encouragement of the publication of the results of such research; 

- (c) the advancement of related musical scholarship; 

- (d) collaboration with institutions, in Britain and other countries, having objects related to those of the Institute; 

- (e) international representation of British research on Handel. 

3 



## **THE HANDEL INSTITUTE** 

## **TRUSTEES’ REPORT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **Aims** 

Within the broad framework of its objects, the Institute has the following aims: 

- (a) to promote and assist the cultivation of Handel studies in general and to support Handel scholarship and performance in Britain; 

- (b) to bring together in the Council of the Institute a group of leading scholars who are based primarily in Britain and have research interests in the subject-area; 

- (c) to maintain the Institute’s archives in a manner that complements other resources in Britain; 

- (d) to establish and maintain links with appropriate British and foreign institutions, such as the Gerald Coke Handel Foundation, the Georg-Friedrich-Händel-Gesellschaft, Handel & Hendrix in London, the American Handel Society and the Japanese Handel Society. 

## **ACTIVITIES** 

- (a) Publishing a twice-yearly Newsletter: the _Handel Institute Newsletter_ is the principal organ for the rapid dissemination of new discoveries or information about Handel, his music and his circle. In addition to research articles on such topics, it includes reviews of Handel conferences and overseas festivals, information on forthcoming Handel conferences and study days, obituaries of leading Handel scholars and performers, and news of important publications. The _Newsletter_ is circulated to any individual or institution who has become a Friend of the Institute by paying an annual subscription. Friends can also see every issue of the _Newsletter_ online at www.handelinstitute.org; the index to the _Newsletter_ and a selection of articles is accessible by the general public. 

- (b) Supporting the preparation and publication of the HHA, the modern scholarly edition of Handel’s collected works (in progress): this multi-volume edition, which is published by Bärenreiter in Kassel (Germany), is available for purchase by the public through the usual channels and for hire by performers from the publisher. 

- (c) Providing and administering funds for the furtherance of research into Handel and his contemporaries, for attendance at Handel conferences, and for productions of Handel’s operas: applications are invited by advertisements in the newsletter of the Institute and in that of the American Handel Society, on the Jiscmail musicology mailing list and on handelinstitute.org. Research awards are made annually but normally not in years when the Institute is providing financial support for an international conference; conference and opera awards are made on an occasional basis. 

- (d) Organising conferences and study days on Handel and his contemporaries: these events are open to the public on payment of a modest registration fee. 

- (e) Promoting the preparation and publication of works relevant to the study of Handel and his contemporaries. 

- (f) Assisting in the maintenance and development of the Gerald Coke Handel Collection at the Foundling Museum (London): the collection is open to the public and is supported by the Gerald Coke Handel Foundation. Two members of the Institute are nominated to serve on the board of the Foundation. 

The Trustees pay due regard to the Charity Commission’s guidance on public benefit in deciding which activities the Institute should undertake or support. 

4 



## **THE HANDEL INSTITUTE** 

## **TRUSTEES’ REPORT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **ACHIEVEMENTS AND PERFORMANCE** 

## **EDUCATIONAL INITIATIVES** 

## **International Research Collaboration** 

Council agreed that the Institute should collaborate with the Hallische Händel-Ausgabe by supporting the initial stage of a research project on Handel’s Italian texts. 

## **PhD Scholarship** 

The Trustees and Council explored ways in which some of the Institute’s assets could be used for educational purposes. Council approved in principle a draft proposal for a scholarship to cover the tuition fees of a PhD student but referred it for further consideration in light of the lack of demand in tertiary education for specialists in Baroque music. 

## **EVENTS** 

## **International Study Day** 

A Study Course committee was established to pursue the proposal, mentioned in last year’s Report, for a UK study course every other year, to complement the biennial Studienkurs in Halle. The result was an International Study Day at the Foundling Museum in November, entitled ‘Handel’s _Deidamia_ : Myth, Literature and Music’. The event was master-minded by Reinhard Strohm; other speakers included Francesca Menchelli-Buttini (Conservatorio di Pesaro), Carlo Caruso (Università di Siena), and Matthew Gardner and Colin Timms (Handel Institute); a lecture-recital on _Deidamia_ was presented by members of Muse’s Kiss. The event was booked to capacity and attracted a varied audience, including overseas visitors; the Institute awarded travel bursaries to two students. 

## **Conference** 

Preparations began for the Fourteenth Handel Institute Conference in November 2025. The Thirteenth Conference in 2023 was so successful that Council had decided that conferences should become biennial rather than triennial events. 

## **AWARDS** 

## **Research** 

Awards of £450 were made to Jack Comerford (University of Southampton) to enable him to consult research materials at the Royal College of Music, the Foundling Museum and the British Library, and £700 to Paul Feller-Simmons (Northwestern University) for the purchase of a digital reproduction of Cambridge University Library MS Add. 9467. 

## **Conference** 

Awards were made to four scholars scheduled to speak at the American Handel Society conference in February 2025: Berta Joncus £852; Yseult Martinez £1,600; Ruth Smith £1,338; David Vickers £1,940.29, and to Yiyun Liu (£495.99), a speaker at the BSECS conference in January 2025. 

## **Opera** 

One application was received. It did not meet the published criteria for an award and so was rejected. 

## **Other** 

1. The Institute would provide £1,000 in aid of a concert of music by Handel and others at the Biennial International Conference on Baroque Music, to be hosted by the Royal Birmingham Conservatoire in July 2025. 2. The Institute would donate £500 sponsorship towards the publication of a Festschrift for Professor Wolfgang Hirschmann, co-general editor of the Hallische Händel-Ausgabe. 

5 



## **THE HANDEL INSTITUTE** 

## **TRUSTEES’ REPORT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **PUBLICATIONS** 

## **George Frideric Handel: Collected Documents** 

Work continued on volumes 5 and 6. The second proof of volume 5 was corrected and returned to Cambridge University Press, and a complete draft of volume 6 was submitted to the publisher. The project continued to be supported by grants from the Open University and the Handel Institute’s Winton Dean Fund. 

## **Hallische Händel-Ausgabe (HHA)** 

Council members continued working as editors: Reinhard Strohm’s edition of _Scipione_ was published during the year, and Donald Burrows submitted his new edition of _Messiah_ . Andrew V. Jones’s edition of Cantatas for solo voice and continuo, vol. 1, was prepared for publication, and Natassa Varka’s edition of _Belshazzar_ neared completion. Matthew Gardner, Carrie Churnside and David Vickers continued their work on _Deborah_ , _Muzio Scevola_ and _Partenope_ , respectively. 

Council members also continued acting as monitors: Donald Burrows for _Schauspielmusiken_ , _Deborah_ and _The Triumph of Time and Truth_ ; Matthew Gardner for _Siroe_ (published in 2024) and the Te Deums in D and A (HWV 280 and 282), and Colin Timms for _Belshazzar_ , _Giustino_ (published in 2024), _Muzio Scevola_ and _Partenope_ . 

Colin Timms translated the German preface to _Giustino_ . 

## **Handel Institute Newsletter** 

The Spring number (35/1) included articles by Donald Burrows on Handel’s association with the singer Christina Avolio, Konstanze Musketa on the missionary Johann Andreas Manitius and his visit to London in 1734, Tina Vadaneaux on the Continuo Foundation, and Colin Timms on the translator George Oldmixon; Katharine Hogg reported on recent additions to the Gerald Coke Handel Collection. The Autumn issue (35/2) presented articles by Graham Cummings on Senesino’s relations with Handel and Peter Holman on the Cannons Ruckers harpsichord; Donald Burrows contributed an obituary of Terence Best, and Rashid-S. Pegah reported on the Telemann (and Keiser) festival in Magdeburg. 

## **HANDEL INSTITUTE ARCHIVE** 

The collection of Handel Institute documents currently stored at the Open University would not be digitalised at present. Andrew V. Jones would manage an ongoing archive of physical documents, while Matthew Gardner would compile a digital archive for the future. 

## **RELATIONSHIPS WITH OTHER ORGANISATIONS** 

## **Gerald Coke Handel Foundation** 

The Institute continued to be represented on the board of the Gerald Coke Handel Foundation by Sylvia Levi and Peter Smaill. The Council and Trustees continued also to receive and consider written reports on the business of the Foundation and to assist in the maintenance and development of the Gerald Coke Handel Collection. They took a particular interest in developments concerning personnel and financial procedures. 

## **The English Concert** 

Council responded positively to an approach from The English Concert about the possibility of collaboration. Any specific request for assistance or collaboration would be sent by the Secretary to an appropriate member of Council. 

## **Other Organisations** 

The Institute continued to work with the Georg-Friedrich-Händel-Gesellschaft, the American Handel Society, Handel & Hendrix in London, the Japanese Handel Society and others, and to offer advice and assistance when required. 

6 



## **THE HANDEL INSTITUTE** 

## **TRUSTEES’ REPORT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

______________________________________________________________________ 

## **PERSONALIA** 

1. Terence Best, a founder member of the Institute and joint general editor of the Hallische Händel-Ausgabe, died on 10 January 2024. An obituary by Donald Burrows appeared in the Institute’s Newsletter, 35/1 (2024). 2. We also record the death of the Czech Handel scholar Pavel Polka (16 August). 

3. The memoirs of Winton Dean, a founder member of the Institute, were published as _An Engagement with Time_ (Brighton: Dynasty Press, 2024). 

## **REVIEW OF FINANCIAL ACTIVITIES** 

Income in 2024 was markedly higher than in the previous year, principally because of generous legacies., One of these, from Terence Best, will be employed as a Designated Fund within the Institute’s Unrestricted Funds. Investment income was also somewhat higher, as a result of an increase in the interest that the Institute received on its bank deposits. The level of Newsletter subscribers has again remained largely static. 

In respect of expenditure, there was no Conference this year, but there was, as noted above, a Study Day for the first time. Research and Conference awards were made, again as noted above, and bursaries to attend the Study Day were also awarded  .An analysis of all expenditure is provided in Notes 4 to 8 to the Financial Statements. 

The value of the Institute’s investments rose somewhat in addition, although it  has fluctuated somewhat since the year end 

The resulting increases in Unrestricted and Restricted Funds were respectively £35,298 and £4,549. The combined value of the Funds at 31 December 2024 was £982,741. 

## **RISK MANAGEMENT** 

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust and are satisfied that systems are in place to mitigate its exposure to the major risks. The relevant risks are (a) that the Institute's investments may fall in capital value or fail to generate sufficient income, mitigated by the specialist nature of the relevant investment funds, being tailored to charities; and (b) that external factors beyond the Institute’s control may cause its major projects to be prolonged beyond their current target dates. The Institute’s representatives regularly liaise with its external colleagues about such matters. 

## **RESERVES POLICY** 

The Trustees aim to preserve the Institute’s reserves at a level that equates to at least seven years’ unrestricted expenditure. This would allow for the completion of the significant projects with which it is involved while continuing its other activities and allowing for an orderly wind-down of the Institute, should this become necessary. The current level of the Institute’s reserves is well above this amount. 

## **PLANS FOR FUTURE PERIODS** 

The Institute intends to continue with all its activities as summarised at the beginning of this report. In particular, it intends: 

- to encourage the development of young Handel scholars; 

- to enhance its activities and promote the work of those interested in Handel (in the UK and elsewhere) by, for example, making greater use of the internet; 

- to support publications relating to Handel and his music, including the Hallische Händel-Ausgabe and _George Frideric Handel: Collected Documents_ ; 

7 



ThE HANDEL JNSTITUTE
TRUSTEES, REPORT
FOR ThE YEAR ENDED 31 DECEMBER 2024
to offer amards in sllpwrt of ￿Sta[Cl￿ conference atrNlaw¢ aThl the pwthctionof H2Th1el's
to continue to mount HaNtI COnfere￿S 0￿] to t￿ public:
to contll￿ to OtgaDise atKi conuibute to Siudy days on Hanthl. ￿lalIng paits"ctthly to perfOnna￿¢S of
hts WO￿ a￿1 seeking io reach the Th'iik5t W￿1b]e audience.
STATEMEN'f OFTRUSTEES. RESPONSIBiiniES
Tr Trustees are responsible lor P￿patIng anmial ryrt aTKI fi￿cIal statenjents in xc0rda￿C with
applicabk law and Ullited Kingdom Ge￿rallY Accepted Accouming P￿Ice.
Tr law applicable to Chiitics in England and Wales TCqUi￿5 t}￿ Trustees to p￿p￿r f￿a￿la1 ￿aten￿llts for
h financial yearwhich give a and fairvicw of the stste of affairs of the Cknty and of the incoming
resources aThl applic*ion of Rsourc¢s of Clwity fortlBt peri(xl.
In p￿paring tlrse fina￿la1 S￿¢m¢nts, the Tnths are to..
sele¢l witable *counting pohci¢s aNlthen ￿lY tlrm consistentty:
obserye the n￿tI￿NIS ajxl pri￿lpleS in tbe Cl]arittes Sthiement of ReCOm￿n<kd Prnctice.
Tnakc judgen*nts and estirnates tbai are r&7sonable and pru(kllL
state wI￿ll￿r applicable accounting staThlards hqve been follow¢¢ subj￿1 to any mat¢iial
departures th"scloscd and explai￿1 in tk fi￿￿la1 ststem¢rns:
ptEpar¢ fillanciai ststem¢AttS on the going cO￿¢mbaS1S wde&s it Is iropproixl￿ to presun
tbat the Clwity continue ill operatiotL
Tr Trnstees are forkeeping ptDkKr accourting records which di￿10$e with Teasomable accurdcy *
any till￿ the fina￿la1 ￿sItiOn of tlk Charity and to enable ensure the fiN￿la1 statements compl!,
with tk ch￿ltieS Acl 2011, Charity (Accounts a￿1 R4Y)rts) Regulations 2010 a￿1 thc provlsiong of
Tntst Deed. also ￿S￿L81ble for saf¢gwding the a&sets of tlK Clty at¥J hell￿ fortaknllg rcasojjable
steps for th¢ p￿VentIOn a￿1 deteclion of frnud and Oll￿rittegllEarItiC$.
Approved by th¢ Twst¢es on ..?. .. .Q.cte&¢¥....2025 and signed &8 authorised on their behalf by.:
Profe&wr Colin Timms

## **INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS** 

I report to the trustees on my examination of the accounts of the Handel Institute (“the Charity”) for the year ended 31[st] December 2024. 

As the Charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). 

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and 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. 

I have completed my examination.  I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: 

- the accounting records were not kept in accordance with section 130 of the Charities Act; or 

- the accounts did not accord with the accounting records; or 

- the accounts did 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. 

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 accounts to be reached. 


Name: Andrew Craig Address: 16 Cranmer Rd, Hampton Hill, Middlesex, TW12 1DW 

Date: 9[th] October 2025 

9 



## **THE HANDEL INSTITUTE** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

|**Note**<br>**Income from:**<br>Donations and legacies<br>2<br>Investment income<br>3<br>Income from charitable activities<br>Other<br>**Expenditure on:**<br>Charitable activities<br>Grant-making<br>5<br>Other<br>Other expenditure<br>**Total expenditure**<br>8<br>**Net income/(expenditure) before**<br>**gains and losses on investments**<br>Net gains on investments<br>**Net income/(expenditure)**<br>**Net movement in funds**<br>**Reconciliation of funds**:<br>Total funds brought forward<br>Total funds carried forward|2023<br>**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total funds**<br>**Prior period**<br>**Total funds**<br>**£**<br>**£**<br>**£**<br>**£**<br>10,844<br>-<br>10,844<br>258<br>23,406<br>2,589<br>25,995<br>24,522<br>1,600<br>-<br>1,600<br>1,650<br>-<br>-<br>-<br>-|
|---|---|
||35,850<br>2,589<br>38,439<br>26,430|
||8,831<br>-<br>8,831<br>17,040<br>2,262<br>-<br>2,262<br>3,046<br>6,547<br>-<br>6,547<br>8,440|
||17,640<br>-<br>17,640<br>28,526|
||18,210<br>2,589<br>20,799<br>(2,096)<br>17,088<br>1,960<br>19,048<br>70,957|
||35,298<br>4,549<br>39,847<br>68,861|
||**-**<br>**-**|
||35,298<br>4,549<br>39,847<br>68,861|
||853,974<br>88,920<br>942,894<br>874,033<br>**---------------------**<br>**--------------------**<br>**--------------------**<br>**--------------------**<br>£889,272<br>£93,469<br>£982,741<br>£942,894<br>**==========**<br>**==========**<br>**==========**<br>**==========**|



10 



ThE HANDEL INSTrruTE
BALANCE SHEET
AS AT 31 DECEMBER 2024
Unrestrictal
Income
Funds
Restrirted
Income
Funds
Total
2024
Total
2023
Nots
Fixed ossets
767.265
94.938
862.203
843,155
Current assets
Dèbtors
Short term deposit
Cash at bank
549
52.¢X(I
72.868
549
52,C
76.399
52.C(#)
53,109
3.531
Total current assets
125,417
3.531
128,948
105,449
Creditor& amounts falling due
within one year
li
(3,4101
15.c((Il
18,4101
15,7101
Net ¢urrent a55&51{Ilabiltties)
I22,￿7
IL4691
120.538
99,739
Net assets
£889.272
£93.469
£982,741
£942,894
Income fvnd$
Restricted I￿orne Funds
Unrestricted Incomo Funds
93,469
93,469
889,272
88,920
853.974
889,272
Total funds
£889,272
£93,469
£982,741
£942,894
The financial statements were approved and authorised for issue by theTrustees on.........
and signed on their behalf by-
ortober 2025
Professor Donald Burrow5, Chaiman
Sylvia Levi, Honorary Treasurer

## **THE HANDEL INSTITUTE** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **1. ACCOUNTING POLICIES** 

## **a) Accounting convention** 

The accounts (financial statements) have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16/07/14, the Financial Reporting Standard for Smaller Entities (FRSSE), and the Charities Act 2011 and applicable regulations. The accounts have been prepared under the historical cost convention as modified by the inclusion of investments at market value. 

## **b)** 

## **Incoming resources** 

Legacies and donations are recognised when receivable or when the Charity becomes legally entitled to them. 

The income from Friends’ subscriptions to The Handel Institute _Newsletter_ is recognised in the year for which it is received. 

Investment income is accounted for in the period in which the charity is entitled to receipt. 

## **c) Resources expended** 

Expenditure is included on an accruals basis. 

Grants payable are charged in the year when the offer is conveyed to the recipient. 

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and costs linked to the strategic management of the charity. 

## **d) Fixed asset investments** 

Investments are included at closing mid-market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities. 

## **e) Funds** 

Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objects. 

Restricted funds are funds which have been given for particular purposes and projects. 

|**2.**<br>**DONATIONS AND LEGACIES**<br>Donations<br>Legacies|**£**<br>**2024**<br>594<br>10,250<br>£10,844|**£**<br>**2023**<br>258<br>-<br>£258|
|---|---|---|



12 



In 2023 one donation of £100 was made by a Trustee of the Institute. 

## **THE HANDEL INSTITUTE** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

|**3.**|**INVESTMENT INCOME**|**£**|**£**|
|---|---|---|---|
|||**2024**|**2023**|
||Dividends|23,470|23,147|
||Interest on cash deposits|2,525|1,375|
|||**--------------**|**--------------**|
|||£25,995|£24,522|
|||**=======**|**=======**|
|**4.**|**GOVERNANCE AND SUPPORT COSTS**|**£**|**£**|
|||**2024**|**2023**|
||Costs of meetings|1,809|1,614|
|||**--------------**|**--------------**|
|||£1,809|£1,614|
|||**=======**|**=======**|
||The trustees have decided to meet all governance costs from unrestricted funds and|||
||so no allocation or charge is made to restricted funds for any governance related|||
||costs.|||
||No trustee received any remuneration during the year (2023 none).|||
|**5**|**ANALYSIS OF GRANTS PAYABLE**|**2024**|**2023**|
|||**£**|**£**|
||Payable to Institutions|||
||The Open University|-|5,000|
||Ensemble Grand Siècle|-|5,000|
||Birmingham City University|1,000|-|
||Payable to Individuals (see also|7,831|7,040|
||Note 7)|||
|||-----------------|-----------------|
|||£8,831|£17,040|
||As at 31 December 2024 Ensemble|**=======**|**=======**|
||Grand Siècle had not yet fulfilled|||
||the conditions for payment of its|||
||grant.|||
|**6**|**NET CONFERENCE EXPENDITURE**|**2024**|**2023**|
|||**£**|**£**|
||Income|-|4,080|
||Expenditure|-|(10,985)|
|||-----------------|-----------------|
|||£-|£6,905|
|||=========|=========|



13 



## **THE HANDEL INSTITUTE** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **7 NET STUDY DAY EXPENDITURE** 

|**NET STUDY DAY EXPENDITURE**|**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Income|335|-|
|Expenditure|(4,996)|-|
||-----------------|-----------------|
||£(4,661)|£-|
|Bursaries of £455 were also paid for|=========|=========|
|the Study Day (see Note 8)|||



## **8 ANALYSIS OF CHARITABLE AND OTHER EXPENDITURE** 

The charity undertakes its work through the making of grants and other activities 

|||**Direct**|**Grants**|**Total**|**Total**|
|---|---|---|---|---|---|
|||**Costs**|**Payable**|**2024**|**2023**|
|||**£**|**£**|**£**|**£**|
|From unrestricted funds:||||||
|Grants for travel to conferences|||6,226|6,226|5,540|
|Research grants|||1,150|1,150|1,500|
|Study Day bursaries|||455|455|-|
|Conference concert grant|||1,000|1,000|-|
|Governance and support costs|Note 4|1,809||1,809|1,614|
|Newsletter expenses||453||453|1,432|
|Website expenses||1,039||1,039|1,201|
|Festschrift donation||500||500|-|
|Sundry expenditure||47||47|34|
|Net conference expenditure|Note 6|-|-|-|6,905|
|Net Study Day expenditure|Note 7|4,661||4,661|-|
|Cost of independent examination||300||300|300|
|From restricted funds:||||||
|Documents project|||-|-|5,000|
|Performance grant|||-|-|5,000|
|||-------------------|--------------------|-----------------|-----------------|
|||£8,809|£8,831|£17,640|£28,526|
|||==========|==========|=========|=========|



14 



## **THE HANDEL INSTITUTE** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

|**9.**|**INVESTMENTS**|**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
||Market value brought forward at 1 January 2024|843,155|772,198|
||Revaluation gains/(losses)|19,048|70,957|
|||----------------|----------------|
||Market value carried forward at 31 December 2022|£862,203|£843,155|
|||**=======**|**=======**|
||Historical cost|£494,766|£494,766|
|||**=======**|**=======**|
||At the year-end the charity held 42,487.06 income shares in COIF Charities Investment Funds.|||
|**10.**|**ANALYSIS OF CURRENT ASSET DEBTORS**|**2024**|**2023**|
|||**£**<br>|**£**|
||Other debtors|-|-|
||Gift Aid claimable|549|340|
|||**----------------**|**----------------**|
||All debtors in both 2024 and 2023 related to the unrestricted|£549|£340|
||funds|||
|||**========**|**========**|
|**11.**|**CREDITORS - DUE WITHIN ONE YEAR**|**2024**<br>|**2023**|
|||**£**<br>|**£**|
||Deferred income|430|410|
||Other creditors|7,980|5,300|
|||**----------------**|**----------------**|
|||£8,410|£5,710|
|||**========**|**========**|
||In both 2024 and 2023 one creditor of £5,000 related|||
||to a restricted fund.  All other creditors related to the|||
||unrestricted funds.|||



15 



## **THE HANDEL INSTITUTE** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **12. ANALYSIS OF CHARITABLE FUNDS** 

||**Balance**|**Income**|**Expenditure**|**Gains and**|**Transfer of**|**Balance 31**|
|---|---|---|---|---|---|---|
||**1 January**|||**losses**|**assets**|**December 2024**|
||**2024**||||||
||**£**|**£**|**£**|**£**|**£**|**£**|
|Restricted Funds:|||||||
|Winton Dean Fund|79,710|2,224|-|1,801|-|83,735|
|Cambridge Handel Opera|9,210|365|**-**|159|-|9,734|
|Group Fund|||||||
|Unrestricted Funds:|||||||
|Designated -Terence Best|||||||
|Fund|0|10,000|-|-|-|10,000|
|Other Unrestricted funds|853,974|25,850|17,640|17,088|-|879,272|
||**----------------**|**----------------**|**----------------**|**----------------**|**----------------**|**----------------**|
||£942,894|38,439|17,640|19,048|£–|<br>£982,741|
||**========**|**========**|**========**|**========**|**========**|**========**|



16