2022-12-31-accounts - The Ouseley Church Music Trust

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rants authorised during th	e course ofthe y	ear:
9th May 2022
Courses
Creative Oundle (Oundle for Organists)		5,000
Grants for musicians
Steel City Choristers		3,000
St Mary Without-the-walls,	Handsbridge,
Chester		2,000
Morland Choristers' Camp		2,000
St Faith Great Crosby		2,000
St Matthew's Westminster		2,340
St George's Jesmond		2,000
St Leonard's Streatham		2,250
St Mary's Handsworth		3,000
Blue Coat School Liverpool		1,000
Fees
Salisbury Cathedral School	(8grants)	20,500
Manchester Cathedral		2,000
Wells Cathedral School		3,000
Christ Church Oxford		1,500
Total		51590

26th September 2022
Courses
Grants for musicians
Bradford Cathedral		f5,000
Wakefield Cathedral		f2,000
Liverpool Cathedral		f3,000
St Paul's Cathedral		f1,500
St Lawrence York		f2,000
All Saints' Burham and Wouldham		f1,500
The Philip Lank Trust		f3,000
St Peter London Docks		f3,000
Fees
Salisbury Cathedral School (4	grants)	f5,500
King's School Gloucester		f2,000
Music
Wellingborough Parish Church	All
Hallows		f800
Total		29 $00

ber 2022, the Tru	st's portf	olios were	distributed across the follo	wing investment classes.
				0/
UK Gilts, bonds and	other fixed-interest			19.93
UK Equities				22.07
European equities				2.13
North American equities				11.94
Japanese equities				0,00
Global investments				17.47
Absolute Return funds				7.33
Property (including	Common	Investment	Funds)	13.95
Other investments				3.47
Cash (with brokers)				1.71
Total				100.00

for the Year Ended	31	December	2022
							2022	2021
				Unrestricted	Restricted	Endowment	Total	Total
				funds	fund	fund	funds	funds
			Notes
INCOMING RESOURCES
FROM
Donations and legacies				646			646	100
Other income								2
Investment income				866		161,964	162,833	148,449
Transfer ofresources				134,891		(134,891)
Total				136,403	3	27,073	163,479	148,551
RESOURCES EXPENDED ON
Raising funds
Investment management		costs	5	487	120	27,073	27,680	29,001
				487	120	27,073	27,680	29,001
Charitable activities
Governance costs				31,160			31,160	20,801
Grant funding activities				95,453			95,453	104,211
Total				127,100	120	27,073	154,293	154,013
Net gains/(losses) on
investments				(15,009)	(4,410)	(548,755)	(568,174)	528,653
NET
INCOME/(EXPENDITURE)				(5,706)	(4,527)	(548,755)	(558,988)	523,191
RECONCILIATION		OF
FUNDS
Total funds brought	forward			196,035	59,956	5,587,536	5,843,527	5,320,336
TOTAL FUNDS CARRIED
FORWARD				190,329	55,429	5,038,781	5,284,539	5,843,527

Balance She 31December	et 2022
						202,2	2021
			Umestricted	Restricted	Endowment	Total	Total
			funds	fund	fund	funds	funds
		Notes
FIXED A.S	SETS
Intangible assets		12	2,880			2,880
Tangible assets		13	786			786	1,571
Investments		14	1I!1,377	54333	4 940 lt94	5,176,604	5690,636
			185,043	54,333	4,940,894	5,180,270	5,692,207
CURRENT	ASSETS
Debtors		15	5,566		22,977	28,543	36,997
Cash at bank		16	34,420	1,126	81,621	117,167	165,626
			39,986	1,126	104,598	145,710	202,623
CREDITORS
Amounts falling due within one
year		17	(34,700)	(30)	(6,711)	(41,441)	{51,303)
NET CURRENT ASSETS			5,2116	1096	97,88	104,269	151320
TOTAL ASSETSLESS
CURRENT	LIAIILITIES		190,329	55,429	5,038,781	5,284,539	5,843,52'7
			190329	55429	5038 781	5284,539	5,843 527
FUNDS
Unrestricted	funds					190,329	196,035
Restricted furlds						55,429	59,956
Endowment	funds					5,03i!7!11	5587536
TOTAL FUNDS						5,284539	5 843,527

	DONATIO	NS AND LEGACIES
			2022	2021
	Donations		646	100
			646	100
3.	OTHER INCOME
			2022	2021
	interest on	Gift Aid		2
4.	INVESTMENT INCOME
			2022	2021
	Investment	income	162,727	148,446
	CAF interest		106	3
			162,833	148,449

			2022	2021
Total investment management		charges	28,312	29,313
Less: fees on	purchases/sales	(see note 14)	(632)	(312)
Management	charge		27,680	29,001

CHARITABLE A	CTIVITIES	COSTS
				Grant
				funding	Support
				ofactivities	costs
				(See note 7)	(See note 8)	2022	2021
Governance and finance costs					31,160	31,160	20,801
Grant funding activities				78,890	16,563	95,453	104,211
				78,890	47,723	126,613	125,012
2021 accounts				82,917	42,095	125,012
GRANTS PAYABLE
						2022	2021
Grants authorised	to institutions					80,890	89,967
Grants authorised	to individuals
Total grants authorised						80,890	89,967
Reconciliation of	grant funding	activities	to grants	authorised
Grants authorised						80,890	89,967
Grants authorised	in 2021 but subsequently		repaid				(7,050)
Grants authorised	in 2022 but not taken up					(2,000)
Grant funding activities per note		6				78,890	82,917

SUPPORT	C	OST	S
				Management	Finance	Overheads	Grant funding	Totals
							activities
Investment	management
costs				27,680				27,680
Governance	costs				81	31,079		31,160
Grant funding		activities					16,563	16,563
				27,680	81	31,079	16,563	75,403
2021 totals				29,001	96	20,705	21,294	71,096
						Grant
				Basisof	Governance	funding
				apportionment	costs	activities	2022	2021
Clerk's salary				'/0 ofactual	6,750	13,500	20,250	20,151
Pensions				'/0 ofactual	203	405	608	150
Trustees' expenses				Actual	1,464		1,464	1,710
Postage, stationery			and
travelling				'/0 ofactual	451	902	1,353	1,860
Sundry expenses				Actual	35	817	852	2,787
Accountancy		fees		Actual	5,088		5,088	5,088
Independent		examiner's
fees				Actual	3,600		3,600	3,600
Legal fees				Actual	12,746		12,746	960
Provision of		office	space
and storage				Actual				3,107
Bank charges				Actual	81		81	96
Publicity (including
website)				Actual		(545)	(545)	1,800
Amortisation		ofcomputer
software				'/0 ofactual	480	960	1,440
Depreciation		ofcomputer
equipment				'/0 ofactual	262	524	786	786
					31,160	16,563	47,723	42,095
2021 totals					20,801	21,294	42,095

		2022	2021
Trustees' costs reimbursed		589	944
Costs oftrustees'	meetings	875	766
		1,464	1,710

COMPARATIVES FOR THE STATEMENT	COMPARATIVES FOR THE STATEMENT	OF FINANCIAL	ACTIVITIES
		Unrestricted	Restricted	Endowment	Total
		funds	fund	fund	funds
INCOMING RESOURCES FROM
Donations and legacies		100			100
Other income		2			2
Investment income		3		148,446	148,449
Transfer ofresources		119,899		(119,899)
Total		120,004		28,547	148,551
RESOURCES EXPENDED ON
Raising funds
Investment management	costs	308	146	28,547	29,001
		308	146	28,547	29,001
Charitable activities
Governance costs		20,801			20,801
Grant funding activities		104,211			104,211
Total		125,320	146	28,547	154,013
Net gains on investments		21,852	7,664	499,137	528,653
NET INCOME		16,536	7,518	499,137	523,191
RECONCILIATION	OF FUNDS
Total funds brought forward		179,499	52,438	5,088,399	5,320,336

11.	COMPARATIVES FORTHE STATEMENT	OF FINANCIAL	ACTIVITIES - continued	ACTIVITIES - continued
		Unrestricted	Restricted	Endowment	Total
		funds	fund	fund	funds
	TOTAL FUNDS CARRIED FORWARD	196,035	59,956	5,587,536	5,843,527
12.	INTANGIBLE FIXEDASSETS
					Computer
					software
	COST
	Additions				4,320
	AMORTISATION
	Charge for year				1,440
	NET BOOK VALUE
	At 31December 2022				2,880
	At 31December 2021
13.	TANGIBLE FIXEDASSETS
					Computer
					equipment
	COST
	At 1 January 2022 and 31December 2022				2,357
	DEPRECIATION
	At 1 January 2022				786
	Charge for year				785
	At 31December 2022				1,571
	NET BOOKVALUE
	At 31December 2022				786
	At 31December 2021				1,571

		Unrestricted		Restricted	Restricted	Endowment
Listed investments		funds			fund	fund	Total 2022	Total 2021
Market value as at
31December 2021		164,230			58,743	5,432,663	5,655,636	4,997,531
Additions*		42,036				717,344	759,380	274,764
Disposals*		(9,880)				(695,358)	(705,238)	(145,312)
Net gains/(losses)**		(15,009)			(4,410)	(548,755)	(568,174)	528,653
Market value as at
31December 2022		181,377			54,333	4,905,894	5,141,604	5,655,636
Britten ms at valuation	at
Cy-Pres scheme inception						35,000	35,000	35,000
Total value as at
31December 2022		181,377			54,333	4,940,894	5,176,604	5,690,636
Historical cost as at
31December 2022		160,291			46,314	4,572,917	4,779,522	4,353,328
Investments at market value comprised:							2022	2021
Equities							4,108,200	4,577,115
Fixed interest securities							1,033,404	1,078,521
Listed investments							5,141,604	5,655,636
Britten ms at valuation	at	Cy-Pres scheme inception					35,000	35,000
Fixed asset investments							5,176,604	5,690,636
Included in equities are	overseas invested funds			and	unit trusts:		729,357	926,197
*The additions and disposals ofinvestments			during		the year		Total 2022	Total 2021
are stated after including		stockbroker's costs:-
Contract fees (including		commission chgs)					625	312
Levy fees							7
							632	312

			Unrestricted	Restricted	Endowment
**Net gains/(losses)	2022		funds	fund	fund	Total 2022
Realised gains/(losses)	(net)		(823)		(29,509)	(30,332)
Unrealised gains/(losses)		(net)	(14,186)	(4,410)	(519,246)	(537,842)
			(15,009)	(4,410)	(548,755)	(568,174)
			Unrestricted	Restricted	Endowment
**Netgains/(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

							2022	2021
Expendable	fund:
Funds held	at brokers						5,444	704
Grants authorised		but not due						7,050
Amounts owed by		Pickering Designated		fund to Expendable		fund		295
Amounts owed by		Pickering Restricted		fund to Expendable		fund		213
Prepayments							122	203
							5,566	8,465
Endowment	fund:
Amounts owed by		Expendable	fund to	Endowment	fund		22,977	28,532
							22,977	28,532
							28,543	36,997

CASH A	T BANK
								Birch	Pickering	Total
					Expendable			Designated	Designated	Unrestricted
						fund		fund	fund	funds
Cash held	at CAF Bank					28,270		4,517	94	32,881
Cash held	at brokers					1,079		430	30	1,539
						29,349		4,947	124	34,420
						Pickering			2022	2021
						Restricted		Endowment	Total	Total
						fund		fund	funds	funds
Cash held	at CAF	Bank				1,096			33,977	33,253
Cash held	at brokers					30		81,621	83,190	132,373
						1,126		81,621	117,167	165,626
CREDITORS: AMOUNTS				FALLING DUE WITHIN ONE				YEAR
									2022	2021
Expendable fund:
Accruals	for grants									2,000
Trade creditors									184	223
Other accruals									11,479	12,609
Amounts	owed to	Endowment		fund by	Expendable	fund			22,977	28,532
									34,640	43,364
Pickering	Designated		fund:
Other accruals									30	30
Amounts	owed to	Expendable		fund by	Pickering Designated		fund			295
									30	325
Birch Designated		fund:
Other accruals									30	32
Total unrestricted		creditors							34,700	43,721
Pickering	Restricted:
Other accruals									30	30
Amounts	owed to	Expendable		fund by	Pickering Restricted		fund			213
									30	243
Endowment fund:
Other accruals									6,711	7,339
									41,441	51,303

MOVEMENT IN F	U	NDS
			Expendable	Birch	Pickering	Total
				Designated	Designated	Unrestricted
Opening balance			26,436	112,187	57,412	196,035
Incoming resources			1,509		2	1,511
Resources expended			(126,859)	(120)	(120)	(127,099)
Gains/(losses)			(2,660)	(8,055)	(4,294)	(15,009)
Transfers between	funds
Unrestricted			10,000	(10,000)
Endowment			134,891			134,891
Closing balance			43,317	94,012	53,000	190,329
Net assets
Fixed assets
Intangible assets			2,880			2,880
Tangible assets			786			786
Listed investments			39,376	89,095	52,906	181,377
			43,042	89,095	52,906	185,043
Current assets
Debtors			5,566			5,566
Cash at bank			29,349	4,947	124	34,420
			34,915	4,947	124	39,986
Creditors - amounts		falling due within
one year			(34,640)	(30)	(30)	(34,700)
Net current (liabilities)/assets			275	4,917	94	5,286
Total assets less current liabilities-
net assets			43,317	94,012	53,000	190,329

			Total	Pickering	Endowment	Total
			Unrestricted	Restricted		Funds
Opening balance			196,035	59,956	5,587,536	5,843,527
Incoming resources			1,511	3	161,964	162,878
Resources expended			(127,099)	(120)	(27,073)	(153,692)
Gains/(losses)			(15,009)	(4,410)	(548,755)	(568,174)
Transfers between	funds
Endowment			134,891		(134,891)
Closing balance			190,329	55,429	5,038,781	5,284,539
Net assets
Fixed assets
Intangible assets			2,880			2,880
Tangible assets			786			786
Listed investments			181,377	54,333	4,905,894	5,141,604
Holograph ms	composition sketch of
Britten String	Quartet No. 2, Opus 36				35,000	35,000
			185,043	54,333	4,940,894	5,180,270
Current assets
Debtors			5,566		22,977	28,543
Cash at bank			34,420	1,126	81,621	117,167
			39,986	1,126	104,598	145,710
Creditors - amounts		falling due within
one year			(34,700)	(30)	(6,711)	(41,441)
Net current assets			5,286	1,096	97,887	104,269
Total assets less	current liabilities-
net assets			190,329	55,429	5,038,781	5,284,539