Charfty rqlstratlon number 311088 The Williams Church Music Trust Annual Report and Unaudited Financial Statements For the year ended 5 Aprll 2024 Gilberts CHAKI'EIiED .4LGOL..Nl'AIYI'S
The Williams Church Music Trust Contents Page Trustee5' report Independent examiner's report Statement of flnanclal actlvltSes Balance sheet Statement of cash flows Notes to the flnanclal statements 8-16
The Williams Church Music Trust Legal and Administrative Informatlon Trustees Mr R W Hattrell- Chalrman DrDOBird Mr R A Lovett Mrs P van Weede Mr C S Prentlce Mrs C Mellton Ch•rlty number 311088 Prlnc5pal addr• Pendrdgon House 65 London Road St Albans Herts ALI IU Ind•pend•nt ex•mlner Mr M P Attwood ACA Attwoods Chartered Accountants 12 Palfrey Close St Albans Hertford5hlre AL3 SRE
The Williams Church Music Trust Trustees, Report For the year ended 5 Apr512024 The trustee5 present their annual report and financial statements for the year Ènded 5 April 2024. The flnanclal statements have been prepared In accordance wlth the accountSng pollcies set out In note I to the financlal ststements and comply with the trust's governing document. the Charltles Act 2011 and "Accountlng and Reportln8 bv Charities.. Statement of Recommended Practice appllcable to charities preparing their accounts In accordance wlth the Flnanclal Reportln8 Standard applScable In the UK and RepublSc of Ireland IFRS 1021 (effective I january 20191" Oblertlvei •nd •ctlvltles The Trust Deed states that the oblerts of the Trust are:_ lal The promotlon of the study. practlce and Improvement of Instrumental muslc Ilncludlng In partlcular or8an muslcl,. and Ibl The Promotion of the study* Practice and improvement of singin81Sn particular choral singing) especially In connectlon wlth the servlces of the Church of England and of Churche5 in communlon wlth the Church of England. In addition the Deed provldes for the creation and admlnistratlon or asslstance In the provlslon of scholarshlps. exhlbltlons. or prizes for the encouragement ol Church Muslc or sln8in8. The Trust Dèed give5 the Trustees wide discretion with re8ard to Investment powers and they have power to apply both income and capital to the furtherance of the above objects. The Trustees, present 8rant makln8 pollcyls to use some of the capltal to enable them to smooth out fluctuations in the stock market and Interest rates provlded that the amount so used Ss wlthln the overall return that they are seeklng to achleve. Th15 pollcy Is revlewed at regular Trustees, meetlngs. The trustees have paid due regard to guidance 555ued by the Charity Commlsslon In decldln8 what actlvltles the trust should undertake. Achlevements and perform•nce The notes attached to the accounts glve full detalls of the grant commltments In the year. Grant commltments made durlng the year were In Ilne wlth the oblectlve set by the trustees. Commitment and payment of 8rants Is made after appllcatlons have been consldered at regular Trustees, meelln8S. Fln•n<lil r•vl•w Fln•ntl•l poiltlon Full detalls of the Trust's financlal positlon are shown In the accounts attsched to thls report. The Charlty's net Income for the year was £78,89512023 net loss.. £IS9,8781. The trustees conslder that the flnancial posltlon and reserves of the charlty are 5atlsfactory. R•strvts pollcy As at 5 April 2024 unrestricted reserves were £1,690,190 12023.. £1,611.2951. The reserves pollcy of thè charlty Is to maintain sufficient reserves to enable the charity to meet effectively the needs deslgnated by Its Trust Deed. Publlc benefft The Trustees conff rm that they have referred to the 8uidance contalned In the Charlty Comrnlsslon's general Buidance on public benefit when reviewing the Tru5t'5 aim5 and objectives and In plannin8 future activltSes and setting the grant maklnB pollcy for the year.
The Williams Church Music Trust Trustees, Report (Continued) For the year ended 5 Aprll 2024 Inve5tmtnt pollcy and performance The malority of the Trust's assets are held in a Charltles Officbal Investment Fund unlt holdlng and also In a Charltles Offlcial Deposit Fund, shown within Cash at Bank. The investments and cash deposits are Tevlewed at regular Trustees, meetlngs and subject to an annual independent review, with the aim of achieving overall returns which enable the Charity to provlde grants to charities and individuals where activities are withln the objects of the Charity as set out above. Structure. iovern•nte and m•nai•ment Gov•rnlnq document The Trust IS governed by a Trust Deed dated 20 May 1970 and Is constltuted as an unlncorporated assoclatSon. It Is registered as a charlty wbth the Charlty Commisslon. Oryanls•tlon structur• and mana8•m•nt The trustees who served durln8 the year and up to the date of sl8nature of the flnanclal statements were: Mr R W Hattiell - Chairman DrDOBird Mr R A Lovett Mrs P van Weede Mr C S Prentice Mrs C Mellton Relatsd partles Mr R W Hattrell Is a Partner In GllbertS, the flrm of chartered accountants who prepare the accounts of the chartty. Rlsk m•napment The trustees are responslble for IdentlfylnB the malor rlsks to whlch the charlty is exposed and ensurlng steps are taken to manage the rlsks. Confll¢t ol Interert poll¢v The charity has a confllct of IntÈre5t pollcy that precludes any trustee benefittln8 from a financlal laln arSsln8 from any artlvlty of the charlty.
The Wllllams Church Music Trust Tru5tees' Report (Contlnued) For the year ended 5 Aprll 2024 St•t•m•nt of trust••s' r•sponilbllltl•s The trustees are responsible for preparin8 the Trustees, Report and the financial statements in accordance with applicable law and United Klngdom Accounting 5tandard5 (United Kingdom Generally Accepted Accounting Practice). The law applbcable to charities In England and Wale5 requires the trustees to Prepare financial Statements for each financial year whlch give a tnje and fair vlew of the state of affalrs ol the trust and of the Incomln8 resources and appllcation of resource5 Of the trust for that year. In preparlng these flnanclal statements. the trustees are requlred to.. select sultsble accountln8 pollcles and then apply them conslstentlv,. . observe the methods and princlple5 In the Charltle5 SORP,. - make Sudgements and estimates that are reasonable and prudent,. stste whether appllcable accountlnq standards have been followed, subject to any materlal departures dlsclosed and explained In the flnanclal 5tatemen15,' and prepare the flnanclal statements on the golng concern basls unle55 It Is Inapproprlate to presume that the charty wlll continue In operatlon. The trustees are responslble for keeplnB sufflclent accountln8 records that dlsclose wlth reasonable xcuracy at any tlme the financlal posltlon of the trust and enable them to ensure that the financlal ststemtnts comply wlth the Charltie5 Act 2011, the Charlty (Accounts and Reports) Re8ulatlons 2008 and the provlsSons of the trust deed. They are also responslble for safe8uardln8 the asset5 of the trust and hence for taklng reasonable steps for the preventlon and detectlon of fraud ¥nd other Irregularities. The trustees, report was approved by the 8oard of Trustees. Mr R W H•ttr•ll- Ch•lmi•n Trustee Dated.. 0610512025
The Williams Church Music Trust Independent Examiner's Report To the Trustees of The Williams Church Muslc Trust I report to the trustees on my examination of the flnancial statements of The Wllllams Church Muslc Trust (the trust) for the vear ended 5 April 2024 which are set out on pa8es 5 to 16. Responslbllftles and basss of report As the trustees of the trust you ire responsible for the preparètlon of the flnanclal ststements In accordance wlth the requirements of the Charities Act 2011 (the 2011 Actl. I report in respert of my examination of the trust's financlal statements carrled out under sectlon 145 of the 2011 Act. In carrylng out my eKaminatlon I have followed all the appllcable Directlons glven by the Charlty Commlsslon under sectlon 14515llbl of the 2011 Art. Ind•p•nd•rt •xamlnerfs statsment Your attention is drawn to the fact that the charSty has prepared financlal ststements In accordance wlth Accountln8 and Reportin8 by Charitles preparSng thelr accounts In accordance wlth the FinancSal Reportln8 Stsndard applicable In the UK afid Republic of Irelan(i IFRS 1021 in preference to the Accountin8 an(i Reportlng by Charities.. Statement of Recommended Practice ssued on l Aprll 2005 whlch Is refÈrTed to In the extant reBulatlons but has now been wlthdrawn. l understand that thls has been done In order for fin?ncSal st4tements to provlde a true and falr vlew In accordance wlth Generally Accepted Accountlng Prattlce effectSve for reportln8 perlods be8lnnlng on or after I january 2015. I have completed my examinatlon. I confirm that no materlal matters have come to my attentlon In connertlon wlth the examination givin8 me cause to believe that in any material respect.. accountln8 records were not kept In respect of the trust as requlred by sectlon 130 of the 2011 Act,. or the financlal statements do not accord wlth those records,. or the flnanclal statements do not comply wlth the appllcable requirements concerning the form and content of accounts set out In the Charltles (Accounts and Reports) Re8ulatlons 2008 other than any requlrement that the account5 glve 'true and fair, view which is not a matter consldered as part of an independent examlnation. I have no concerns and have come across no other matters In connectlon wlth the examlnatlon to whlch attentlon Should be drawn in th15 report In order to enable a proper understandln8 of the financlèl statements to be reached. Mr M P Atfvmod ACA Attwoods Chartered Accountsnts 12 Palfrey Close St Albans Hertfordshlre AL3 5RE Dated.. rtitÉ4>2 r
The Williams Church Music Trust Statement of Flnanclal Actlvltes Includlng Income and Expendlture Account For the year ended 5 Aprll 2024 Unrestrfrted funds 2024 Total Unrestrlcted funds 2023 Total 2024 2023 Notes Income Irom: Donations and legacies Charitable activitle5 Investments 3,734 3,734 48,014 48,0 48,242 48,242 Totsl Sncorne 48x114 48.014 51,976 51,976 Ex tndftur• Ralsing funds Charltable actlvltles 117,439 117,439 131,238 131,238 Net 8ain5lllosses1 on Snvestments io 148,320 148,320 180,6161 180,6161 N•t mov•m•nt In lund5 78,895 78,895 1159,8781 1159,8781 Fund balances at 6 Aprll 2023 1.611,295 1,611,295 1,771,173 1,771.173 Fund balanc•s It 5 Aprll 2024 I,,190 1,690,190 1,611,295 1.611,295 The statement of flnancial activltles Includes all 8alns and losses reco8nlsed In the year. All Income and expendlture derlve from continuing activities.
The Williams Church Muslc Trust Balance sheet As at 5 Aprll 2024 2024 2023 Not•s Flx•d us•ts Investments- Charities EthScal Investment Fund Curr•nt •M•ts Cash at bank and in h3nd 1> 1.6J4,601 1,536,288 64.124 82.997 ¢r•dltsTh: •mounts du• wlthln •M 15 18,5421 (7.9901 Net current assets 55,512 75,7 Tot•1 •sMts l•M cuYr•nt Il•bllltl•s 1,690,190 1,611,295 Incorn• luThds Unrestricted funds 1,690,190 1,611,295 1.690.190 1,611,295 The flnanclal statements were approved by the Trustee5 on 0610512025 Mr R W Hattrell- Chalrman Trurt••
The Williams Church Music Trust Statement of Cash Flows For the year ended S Aprll 2024 2024 2013 Notes Cash flows from operntlni artlvftles Cash absorbed by operations 19 {116,8871 1126,7481 In¥•stln8 a¢tlvltl•s Proceeds from dSsposal of Investments Investment Sncome recelved S0,L 48.014 48,242 Net ¢•sh ienernted from Inv•5tlni •ctl¥ltles 98,014 48.242 N•t c•sh us•d In Iln•nclni •ctl¥ltl•s Net d•¢r••se In ush and ush equl¥alents 118,8731 178,5061 Cash and cash equlvalents at beglnnlni of year 82,997 161,503 Cash ind ush •quIlents it •nd ol y••r 64,124 82,997
The Williams Church Music Trust Notes to the Flnanclal Statements For the year ended 5 Aprll 2024 Accountln8 polScles Charlty Infomiatlon The William5 Church Muslc Trust Is a publ1¢ benefit entity and a reglstered charlty In England and Wales and is unintorporated. The address of the principal office is Pendragon House, 65 London Road, St Albans. Hertlordshire, ALI iu. 1.1 Accountlni conventSon These fSnancSal ststements have been prepared In compliance wSth FRS 102, 'The Flnanclal Reportlng Standard applicable In the UK and the Republlc of Ireland,, the Statement of Recommended Practlce applicable to charltie5 preparln8 thelr a¢untS In accordance wlth the Flnancial Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 1021 (Charitles SORP IFRS 10211 and the Charities Act 2011. The financial statements have departed from the Charities (Accounts and Reports) Regulatlons 2008 only to the extent required to provlde a true and fair view. This departure has Involved followlng the Statement of Recommended Practlce for charltles applyln8 FRS 102 rather than the verslon of the Ststement of Recomrnende(I Practlce whichls referred to In the Regulatlons but whlch has slnce been wlthdrawn. The flnanclal ststements are prepared in sterllng, whlch Is the functional currency of the trust. Monetary amounts In these flnanclal 5tatement5 are rounded to the nearest £. The flnanclal ststements have been prepared under the hlstorlcal cost conventlon, Imodlfled to Include the revaluatlon of certain flnanclal Instruments at falr valuel. The prlnclpal accountin8 policie5 adopted are set out below. 1.2 Golni concern At the tlme of approvlng the flnanclal statements, the trustees have a reasonable expectatlon that the trust ha5 adequate resources to continue In operational eKlstence lor the foreseeable future. Thus the trustees contlnue to adopt the golng concern basls of accountlng In preparlng the flnanclal statements. 1.3 Ch•rlt•ble funds Unrestricted funds are available for usè at the dlscretbon of the trustees In furtherance of thelr charltsble oblectlves. Restricted funds are subject to 5peclflc condltlon5 by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Incom• Income is recognised when the trust Is le8ally entitled to It after any performance condltlons have been met, the amounts can be measured rellably, and It is probable that Income wlll be recelved. Cash donations are recognlsed on recelpt. Other donatlons are recognlsed once the trust has been notlfied of the donation, unless performance condition5 require deferral of the amount. Income tax recoverable In relatlon to donatlons received under Gift Aid or deeds of covenant is recognlsed at the tlme of the donatlon. Legacies are recognised on receipt or otherwise if the trust has been notified of an impendin8 dlstrlbution, the amount is known, and receiptls expected. If the amount Is not known, the legacy is treated a5 a contln8ent asset.
The William5 Church Music Trust Notes to the Flnancial Statements (Contlnued) For the year ended 5 April 2024 AcCounn8 pollcles IC¢ntlnuedl 1.5 Expendlture Expenditlsre Is recoBnlsed on an accruals basi5 as a Ilablllty Is Incurred. Expendlture Includes any VAT whlch cannot be fully recovered, and Is classSfiÈd under heading5 of the statement of financlal activitles to whlch it relates.. expenditure on charitable artivlties includes all costs InCurd by a charlty In undertskln8 actlvlties that further Sts charitable aims for the beneflt of Its benenclarles, Includlng those support costs and costs relatln8 to the governance of the charlty apportSoned to charltable actlvltle5. other expendlture Includes all expendlture that Is not part of It5 expendlture on charltable actlvltles. All costs are allocated to expendlture cate8orles reflectlng the use of the resource. Costs attrlbutable to a slngle actlvlty are allocated dlrectly to that activity. Shared costs are apportioned between the activitle5 they contrlbute to on a reasonable, lustlfiable and con515tent basls. 1.6 Flx•d •ssgt Investments Fixed asset investments are Initlally measured at transaction prlce eKcludln8 transartlon costs, and are subsequently measured at falr value at each reportSn8 date. Changes In falr value are recognlsed In net Incomellexpendlturel for the vear. Transactlon costs are expensed as Incurred. 1.7 Cash •nd $h •qulval•nts Cash and cash equlvalents Include cash In hand, deposlts held at call with banks, other short-term Ilquld Investments with orlgSnal maturltles of three months or less, and bank overdrafts. Bank overdrdfts ère shown wlthln borrowlngs In current Ilabllltles. 1.8 Flnan¢l¥l lrtstrument5 A flnanclal asset or a1Sabllty Is reco8nlsed only when the eftt becomes a party to the contractual provlslons of the Instrument. Baslc flnancial Instruments are Initlally recognlsed at the amount receivable or payable IncludSng any related transactlon costs, unless the arrangement constltute5 a f5nancing transaction, where it Is recognlsed at the the present value of the future payment5 discounted at a market rate of interest for a similar debt instrument. Current assets and current Ilabllltles are subsequently measured at the cash or other conslderatlon expected to be pald or recelved and not discounted. Where Investments are publlcly traded or thelr fair value can otherw15e be measured rellably, the investment Is subsequently measured at fair value with changes in falr value recognised In Sncome and expendlture. Crltlcal accountlno •stlmt•s and ludiem•nts In the appllcation of the trust's accountlng pollcles, the trustees are requlred to make IL¢d8ements, estlmes and a55umptions about the carrySng amount of assets and Ilabllltles that are not readlly apparent from other sources. The estlmates and assoclated assumptlons are based on hbstorlcal experlence and other factors that are consldered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revlsions to accounting estimates are recognised in the period in which the estimate is revised where the vIsion affects only that period. or in the period of the revision and future periods where the revision affects both current and future period5.
The Williams Church Music Trust Notes to the Flnancial Statements (Continued) For the year ended 5 Aprll 2024 Intoffla from donatlons and ley<les Unrestrfrted lunds 2024 Unrestrlrted fvnds 2023 Donatlons and glfts 3,734 Investments Unr•strlctsd fund¥ Totsl Unre5trlrted funds Total 2024 2024 2023 2023 Dlvldends from Ilsted Investments Income from cash Investments 46,899 1,115 46,899 1,115 46,899 1.343 46,899 1,343 48,014 48,014 48,242 48,242 Charltsbl• •rtl¥ltles Chrltbl• EMpendltur• 2024 Tatsl Ch•rftsbl• 2024 Exp•ndltur• 2023 Totsl 2023 Objectlve5 of the Trust (see note 61 98,700 116,050 116,050 Share of support costs (see note 81 Share of 8overnance t05ts (see note 81 14,132 4,607 14,132 4,607 12,017 3.171 12,017 3,171 117,439 117,439 131,238 131,238 -io-
The Williams Church Music Trust Notes to the Flnancial Statements (Contlnued) For the year ended 5 Aprll 2024 Grnnts payable 2024 2023 Grnnts to Instltutlons: All Saints Church Northampton Beds & Herts Or8anists' Association Beth Hamten Exeter Cathedral school Bexhill Choral Society Bradfofd Cathedral Carllsle Cathedral Canterbury Cathedral Trust Charles Wood Festlval of Muslc Cowbrldge Muslc Festival Creatlve Oundle for Organi5t5 Dr Martln Clarke, Youn8 Organ Scholar Trust Ely Choral Soclety Eye Bach Cholr Guildford Cathedral Mu51c Development Harpenden Choral Soclety Hertfordshlre Chorus HertfordshSre Festlval of Muslc Kent County Or8anists Assoclatlon LeScester Church Muslc Consort Llverpool Cathedral London Pro Arte Cholr Luton Choral Soclety North Herts Gulld of SSn8ers Royal Free Muslc Soclety Southwell Cathedral Chapter St Albans Abbey Oryan Scholar St Albans Chamber Choir St Albans Choral Society St Albans Internatlonal Or8an Festlval St Barnabus & St Paul PCC St Botolphs Church, Boston St Edward Church, Romford St German's Cathedral Foundatlon for Muslc & the Arts St John's Harpenden PCC St Mildred's PCC Organ Project St Mary's Church, Dedham St Mary's Church. Wespall St Mary's Clophlll St Martin-in-the-Fields Trust- Choral Scholarshlp St Paul's Cathedral Chorlster Trust St Paul's Clifton- One Equal Muslc St Thomas of Canterbury, Goring PCC Steel City Chorlsters The Hardynge Choir The Incorporated Association of Organists The Lea Sln8ers The Music Makers Choir of Harpenden 2,000 1.000 1,000 5,000 3,500 3,000 1,500 2,000 3,000 5,000 2,500 2,000 3,000 1,000 1,500 1,500 2,000 soo 2,fy)0 3,CK)O 5,000 3,500 s,th)o 2,500 25,0 2,OC 3,2C 2.600 2,000 300 10,000 25,000 2,500 1,500 2,000 5,000 2,500 5,000 1,500 450 3,cN)O li-
The Willlams Church Music Trust Notes to the Flnanclal Statements Icontlnued) For the year ended 5 Aprll 2024 Grdnts payable Icontlnuedl Three Cholrs Festlval Volx de Vivre Wakefield Cathedral Wlndsor Festival Wlngrave Singers Worlln8WOrth Parochial Church Councll 1,200 I,oc 2,000 98,700 116,050 Totsl grdnts 98.71KI 116,050 Grants agreed and pald or committed In furtherance of the Charlty'5 oblectlves (all unrestrlrted funds) were as above. ommltment There were no grant commltments brought forward at 6 Aprll 2023 or carrled foard at S Aprll 2024. Trust• None of the tru5tee5 lor any persons Connected wlth them) recelved any remuneratlgn or beneflts from the trust durlni the year. Support costs Support Costs Go¥em•nc• C051S 2024 Support costs G¢)vernance costs 2023 Support costs . legal and professSonal fees Support Costs - other offlce costs 6,281 6,281 5,341 5,341 7,851 7,B51 6,676 6,676 Governance costs- legal and professional fees Governance costs- other office c05t5 1,500 1.51XI 1,500 3,107 3,107 1.671 1,671 14,132 4,607 18,739 12,017 3.171 15,188 Analysed between Charltable activities 14.132 4,607 18.739 12,017 3.171 15,188 12-
The Williams Church Music Trust Notes to the Flnanclal Statements (Contlnued) For the year ended 5 Aprll 2024 Employees The average monthly number of employees durlng the year was.. 2024 Number 2023 Number Total There were no employees whose annual remuneratlon was more than E60,0(KI. 10 Net p1ns1lloe$l on Investments Unr•rtrfrted lunds Tot•1 Unre5trlcted funds Totsl 2024 2024 2023 2023 Galnll105sI on listed investments 148,320 148,320 180,6161 180,6161 Galns comprlsed Reallsed Galns of £2,08912023 Reallsed Loss.. £nlll and UnTÈa115ed Galns of £146.23112023 Unreallsed Loss.. £80,6161- 11 Tlxatlon The charlty Is exempt from tax on Income and ialn5 falllnB wlthSn sectlon 505 of the Taxes Act 1988 or 5ectlon 252 of the Tax?tlon of Chargeable Galns Act 1992 to the extent that these are applled to Its charltable objects. 12 Ind•p•nd•nt •xamlnallon f••5 2024 2023 Fees payable to the indÈpendent examiner for: Independent examination of the financial statements 1,500 1,5LKI 13.
The Williams Church Music Trust Notes to the Flnancial Statements (Continued) For the year ended 5 Aprll 2024 13 Flxd •$$et Investments Llsted Inveslm•nts Cost or valuatlon At 6 Aprll 2023 Reallsed and unreallsed galnslllosse51 DIsp05015 1,536,288 148,320 150,0001 At S Aprll 2024 1,634,608 C•rrylng amount At 05 Aprll 2024 1,634,608 At 05 AprS12023 1,536,288 Flx•d Ji•t Inv•stm•nts r¢v•lu•d There were no Investment a5set5 Outslde the UK. All Investments held 3re115ted. The hlstorlcal cost of the Investment Is £952,74212023.. £983,411). 14 Fln•n¢lal Instrum•nts 1024 2023 Crrylni amount of flnancSal assrts Instruments measured at falr value through proflt or10s5 1,634,608 1,536,288 15 Credltors: amounts falllng due wlthln one year 2024 2023 Trade creditors Accruals and deferred Income 7,042 1,500 4,740 3,250 8,542 7,990 14-
The William5 Church Music Trust Notes to the Financial Statements Icontinued) For the year ended S Aprll 2024 16 Unrestrlrted funds The unrestrlcted funds of the tharlty comprlse the unexpended balantes of donatlons and grants whlch are not sublect to specific conditions by donors and grantors as to how they may be used. These Include designated fund5 whlch have been set aslde out of unrestrlcted fund5 by the trustees for speclflc purposès. At 6 Aprfl 2023 In¢omlni resources Resour¢esG•ln$ •Thd loiyji At 5 Aprll 1024 expended General funds 1,611,295 48,014 117,439 148,320 1,690,190 Prevlou$ y••r: At 6 Aprll 2022 InrnIn1 resources ResourcesGalni •nd losses At 5 Aprll 2023 expended General funds 1.771,173 51,976 1131,2381 180,6161 1,611.295 17 An•lys1s of net assets between funds Unmstrlcted Unrestrlcted funds funds 2023 2024 Fund balances at 5 Aprll 2024 a represented by.. Investments Current asset51lllabllltlesl 1,634,608 55,582 1,536,288 75,007 1.690,190 1,611,295 R•lat•d porty transactlons Administratlon costs of £9,42112023.. £8.0111 and Professional Fees of £6.28112023: £5,341) were pald In accordance wlth clause 6 of the Trust Deed to Messrs Gilberts- the form of accountsnts of whlch Mr R W Hattrell Is a Partner. There were no other transactlons wlth Trustees or related parties. 15-
The Wllllams Church Music Trust Notes to the Flnanclal Statements (Contlnued) For the year ended 5 Aprll 2024 19 Cash genernted from operntlons 2024 2013 Surpluslldeficltl for the year 78,895 1159.8781 Adlustments for.. Investment income recogni5ed in statement of financial actlvltles Falr value galns and1055es on investments {48.0141 1148.3201 148,2421 80,616 Movements In workln8 capltal: Increase In credltors 552 756 sh absorbed by operntlons 1116.8871 1126,7481 20 Analys1$ ol chanys In net funds The trust had no debt durln8 the year. 16-