2021-12-31-accounts - The Ouseley Church Music Trust

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19th April 2021			27th September 2021	27th September 2021	27th September 2021
Courses			Courses
Liverpool Cathedral		2,500	The Rodolfus Foundation			4,000
Grants for musicians			Grants for musicians
Llandaff Cathedral		5,000	SMary Warwick			3,420
SBarnabas, Jericho		3,000	S Sepulchre-without-Newgate			2,000
Friends ofStMary's	Choirs, Moseley	2,000	SJohn at	Hackney		2,000
StMartin-at-Roath,	Cardiff	2,300	S Stephen	Dulwich		6,000
Carlisle Cathedral *		16,000	Fees
Newcastle Cathedral		12,488	The King's School Worcester			2,000
SMary-the-Virgin,	West Mailing	1,300	Salisbury	Cathedral	School	6,319
Fees			Gloucester Cathedral			4,890
Christ Church Cathedral School, Oxford
(2grants)		3,750
Magdalen College School		4,000
Dean Close School	(for Tewkesbury
Abbey Schola Cantorum)		4,000
Salisbury Cathedral	School	2,000
Music
S Cyprian, Clarence	Gate, NW1	250
Other
The Alleyn Singers		750
Total		~59338	Total			30629

ecember 2021, th	e T	rust' s por	tfolios were	distributed acros	s the following inv	estment
						2020
UK Gilts, bonds	and	other fixed-interest			18.6	21.7
UK Equities					22,5	22.0
European equities					1.9	2.1
North American	equities				14.I	9.0
Japanese equities					0.0	0.0
Global investments					17.5	16.5
Absolute Return	funds				5.2	5.8
Property (including		Common	Investment	Funds)	14.1	14.6
Other investments					3.7	3.5
Cash (with brokers)					2.4	4.8
Total					100.0	100.0

							2021	2020
				Unrestricted	Restricted	Endowment	Total	Total
				funds	fund	fund	funds	funds
			Notes	f.		f.	6
INCOMING RESOURCES
FROM
Donations and legacies			2	100			100
Other income				2			2	5,991
Investment income				3		148,446	148,449	149,351
Transfer ofresources				119,899		(119,899)
Total				120,004		28,547	148,551	155,342
RESOURCES EXPENDED ON
Raising funds
Investment management		costs	5	308	146	28,547	29,001	26,818
				308	146	28,547	29,001	26,818
Charitable activities			6
Governance costs				20,801			20,801	19,776
Grant funding activities				104,211			104,211	363,584
Total				125,320	146	28,547	154,013	410,178
Net resources expended
before gains/losses				(5,316)	(146)		(5,462)	(254,836)
Net gains/(losses) on
investments				21,852	7,664	499,137	528,653	~112,194)
NET
INCOME/(EXPENDITURE)				16,536	7,518	499,137	523,191	(367,030)
	w.
RECONCILTATION	()F
FUNDS
Total funds brought	forward			]79,499	52,438	5,088,399	5,320,336	5,687,366
TOTAL FUNDS CARRIED
FORWARD				196,035	59,956	5,587,536	5,843,527	5,320,336

Balance Sheet 31December 2021
						2021	2020
		Unrestricted	Restricted	Endowment		Total	Total
		funds	fund		fund	funds	funds
	Notes	6
FIXEDASSETS
Tangible assets	12	1,571				1,571
Investments	13	164,230	58,743	5,467,663		5,690,636	5,032,531
		165,801	58,743	5,467,663		5,692,207	5,032,531
CURRENT ASSETS
Debtors	14	8,465			28,532	36,997	20,658
Cash at bank	15	65,490	1,456		98,680	165,626	312,379
		73,955	1,456	127,212		202,623	333,037
CREDITORS
Amounts falling due within one
year	16	(43,721)	(243)		(7,339)	(51,303)	(45,232)
NET CURRENT ASSETS		30,234	1,213	119,873		151,320	287,805
TOTAL ASSETSLESS
CURRENT LIABILITIES		196,035	59,956	5,587,536		5,843,527	5,320,336
NET ASSETS		196,035	59,956	5,587,536		5,843,527	5,320,336
FUNDS	17
Unrestricted funds						196,035	179,499
Restricted funds						59,956	52,438
Endowment funds						5,587,536	5,088,399
TOTAL FUNDS						5,843,527	5,323,336
						'	Rem

					2021	2020
Donations					100
					100
OTHER INCOME
					2021	2020
Investment	Manager's	compensation				32
Investments	management		commission	refunded		5,959
Interest on	Gift Aid
					2	5,991

					2021	2020
Investment income CAF interest					148,446 3	149,273 18
Investment Manager's	deposit interest					60
					148,449	149,331
INVESTMENT MANAGEMENT			COSTS
					2021	2020
Total investment management Less: fees on purchases/sales		charges (see note		13)	29,313 (3121	33,527 ~6,709)
Management charge					29,001	26,818
See Note 3above for	further explanation			ofthe figures

6.	CHARITABLE A	CTIVITIES	COSTS
					Grant
					funding	Support
					of	coats
					activities
					(Seenote 7)	(See note 8)	2021	2020
	Governance and finance costs					20,801	20,801	19,776
	Grant funding activities				82,917	21,294	104,211	363,584
					82,917	~42 095	125,012	383,360
	2020 accounts				341,099	42,261	383,360
7.	GRANTS PAYABLE
							2021	2020
	Grants authorised	to institutions					89,967	341,099
	Grants authorised	to individuals
	Total grants authorised						89,967	341,099
	ReconciTiation of	grant funding	activities	to grants	authorised
	Grants authorised						89,967	341,099
	Grants authorised	in 2021 but subsequently		repaid			(7,050)
	Grant funding activities per note		6				82,917	341,099

		Management	Finance	Overheads	Grant funding	Totals
					activities
Investment management
costs Governance costs Grant funding activities		29,001	96	20,705	21,294	29,001 20,801 21,294
		29,001	96	20,705	21,294	71,096
2020 totals		26,818	60	19,716	22,485	69,079
				Grant
		Basis of	Governance	funding
		apportionment	costs	activities	2021	2020
Clerk's salary Pensions		%ofactual Actual	6,717 50	13,434 100	g 20,151 150	19,190
Trustees' expenses Postage, stationery	and	Actual	1,710		1,710	157
travelling Sundry expenses Norris &Miles Accountancy fees Independent examiner's		%of actual Actual %ofactual Actual	620 1,698 5,088	1,240 1,089	1,860 2,787 5,088	1,725 2,218 2,233 7,200
fees Legal fees		Actual Actual	3,600 960		3,600 960	3,600
Provision ofoffice	space
and storage Bank charges		Actual Actual	96	3,107	3,107 96	3,800
Publicity (including
website) Depreciation ofcomputer		Actual		1,800	1,800	2,078
equipment		Actual	262	524	786
			20,801	21,294	42,095	42,261
2020 totals			19,776	22,485	42,261

		2021	2020
Trustees' costs reimbursed		944	157
Costs of trustees'	meetings	766
		1,710	157

COMPARATIVES FOR THE STATEMENT	COMPARATIVES FOR THE STATEMENT	OF FINANCIAL	ACTIVITIES
		Unrestricted	Restricted	Endowment	Total
		funds	fund	fund	funds
INCOMING RESOURCES FROM
Other income		153	7	5,831	5,991
Investtnent income		5,042	210	144,099	149,351
Transfer ofresources		118,413		~118,413)
Total		123,608	217	31,517	155,342
RESOURCES EXPENDED ON
Raising funds
Investment management	costs	1,037	95	25,686	26,818
		1,037	95	25,686	26,818
Charitable activities
Governance costs		19,776			19,776
Grant funding activities		363,584			363,584
Total		384,397	95	25,686	410,178
Net gains/(losses) on investments		(40,440)	3,693	(75,447)	~112,194)
NET INCOME/(EXPENDITURE)		(301,229)	3,815	(69,616)	(367,030)
RECONCILIATION	OF FUNDS
Total funds brought forward		480,728	48,623	5,158,015	5,687,366
TOTAL FUNDS CARRIED FORWARD		179,499	52,438	5,088,399	5,320,336

TANGIBLE FIXEDASSETS
	Computer
	equipment
	g
COST
Additions	2,357
DEPRECIATION
Charge for year	786
NET BOOK VALUE
At 31December 2021	1,571
At 31December 2020

					Unrestricted	Unrestricted	Unrestricted		Restricted	Restricted	Endowment
Listed investments					funds					fund	fund	Total 2021	Total 2020
Market value as at
31December 2020					152,955					51,079	4,793,497	4,997,531	5,597,047
Additions a											274,764	274,764	1,025,933
Disposals Net gains/posses)~					(10,577) 21,852					7,664	(134,735) 499,137	(145,312) (1,513,255) 528.653~112,194)
Market value as at
31December 2021					164,230					58,743	5,432,663	5,655,636	4,997,531
Historical cost as at
31December 2021					132,402					46,314	4,139,612	4,318,328	4,039,621
Investments at market		value comprised:										2021	2020
Equities												4,577,115	3,856,384
Fixed interest securities												1,078,521	1,141,147
Listed investments												5,655,636	4,997,531
Britten ms at valuation		at		trust	scheme inception							35,000	35,000
Fixed asset investments												5,690,636	5,032,531
Included in equities	are		overseas invested				funds		and	unit trusts;		926,197	579,326
*The additions and	disposals ofinvestments							durdng		the year		Total 2021	Total 2020
are stated after including				stockbroker's			costs:—
Contract fees (including				commission		chgs)						312	6,696
Levy fees													13
												312	6,709
									Unrestricted		Restricted	Endowment
a"Net gains/(losses)		2021								funds	fund	fund	Total 2021
Realised gains/(losses)			(net)							424		7,773	8,197
Unrealised gains/(losses)				(net)						21,428	7,664	491,364	520,456
										21,852	7,664	499,137	528,653
									Unrestricted		Restricted	Endowment
**Netgains/posses)		2020								funds	fund	fund	Total 2020
										g
Realised gains/(losses)			(net)							(50,829)		(63,349)	(]14,178)
Unrealised gains/(lasses)				(net)						10,389	3,693	(12,098)	1,984
								~40,440)			3,693	~75,447)	~112,194)

											2021	2020
Expendable		fund:										f
Funds held		at brokers									704	487
Gift Aid												137
Grants authorised			but not	due							7,050
Amounts	owed by Pickering				Designated		fund to Expendable		fund		295	145
Amounts	owed by Pickering				Restricted		fund to Expendable		fund		213	63
Prepayments											203	550
											8,465	1,382
Birch Designated			fund:
Investment		management		fees								129
Endowment		fund;
Amounts	owed by Expendable					fund to	Endowment	fund			28,532	13,316
Investment		management		fees								5,831
											28,532	19,147
											36,997	20,658
CASH AT		BANK
											Birch	Pickering
										Expendable	Designated	Designated
										fund	fund	fund
Cash held	at CAF		Bank							26,682	4,639	506
Cash held	at brokers									33,083	550	30
										59,765	5,189	536
								Pickering			2021	2020
								Restricted		Endowment	Total	Total
								fund		fund	funds	funds
												f
Cash held	at CAF		Bank					1,426			33,253	61,713
Cash held	at brokers							30		98,680	132,373	250,666
								1,436		98,680	163,626	312,379

						2021	2020
Expendable fund:
Accruals for grants						2,000	7,000
Trade creditors						223	335
Other accruals						12,609	17,448
Amounts owed to	Endowment		fund by Expendable	fund		28,532	13,316
						43,364	38,099
Pickering Designated		fund:
Other accruals						30	30
Amounts owed to	Expendable		fund by Pickering Designated		fund	295	144
						325	174
Birch Designated	fund;
Other accruals						32	31
Picketing Restricted:
Other accruals						30	4
Amounts owed to	Expendable		fund by Pickering Restricted		fund	213	63
						243	67
Endowmentfund:
Other accruals						7,339	6,861
						51,303	45,232

			Expendable	Birch	Pickering	Total
				Designated	Designated	Unrestricted
Opening balance			21,378	108,052	50,069	179,499
Incoming resources			105			105
Resources expended			(124,946)	(254)	(120)	(125,320)
Gains/(losses)				14,389	7,463	21,852
Transfers between funds
Unrestricted			10,000	(10,000)
Endowment			119,899			119,899
Closing balance			26,436	112,187	57,412	196,035
Net assets
Fixed assets
Tangible	assets		1,571			1,571
Listed investments				107,030	57,200	164,230
			1,571	107,030	57,200	165,801
Current assets
Debtors			8,465			8,465
Cash at bank			59,764	5,189	537	65,490
			68,229	5,189	537	73,955
Creditors —amounts one year		falling due within	(43,364)	7327~3237		(43,721)
Net current (liabilities)/assets			24,865	5,157	212	30,234
Total assets less current liabilities-
net assets			26,436	112,187	57,412	196,035

			Total	Pickering	Endowment	Total
			Unrestricted	Restricted		Funds
Opening balance			179,499	52,438	5,088,399	5,320,336
Incoming resources			105		148,446	148,551
Resources expended			(125,320)	(146)	(28,547)	(154,013)
Gains/(losses)			21,852	7,664	499,137	528,653
Transfers between Endowment	funds		119,899		~))9,899)
Closing balance			196,035	59,956	5,587,536	5,843,527
Net assets
Fixed assets
Tangible assets			1,571			1,571
Listed investments			164,230	58,743	5,432,663	5,655,636
Holograph	ms composition
sketch ofBritten String Quartet						35,000
No. 2, Opus 36
			165,801	58,743	5,467,663	5,692,207
Current assets
Debtors			8,465		28,532	36,997
Cash at bank			65,490	1,456	98,680	165,626
			73,955	1,456	127,2]2	202,623
Creditors —amounts one year		falling due within	143.721)~243)		17.339)~3),31)3)
Net current assets			30,234	1,213	119,873	151,320
Total assets less	current liabilities
net assets			196,035	59,956	5,587,536	5,843,527