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•n2 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 •quI￿lents 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 AcCoun￿n8 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 InCur￿d 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 •stlm*t•s and ludiem•nts In the appllcation of the trust's accountlng pollcles, the trustees are requlred to make IL¢d8ements, estlm*es 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