2023-12-31-accounts

11"May, 2023					25"' September, 2023
Courses					Courses
					Rodolfus Foundation		4,000
					Royal School ofChurch Music		2,000
Grants for Musicians					Grants for Musicians
Dr Martin Clarke Young		Organ Scholars Trust		2,000	St Michael & All Angels Barnes		1,000
Holy Trinity Sloane Square				3,000	Guildford Cathedral		5,000
St Martin in the Fields				1,500	Beaulieu Abbey Parish Church		3,000
The Choral Foundation,	The Chapel Royal			2,000	StJames Piccadilly		1,000
St Edward's Romford				1,000	Carlisle Cathedral		5,000
Newcastle Cathedral				2,000	St Mark Clerkenwell		2,000
StMichael & All Angels		Tenbury	Wells	1,000	St Mary's Ewell		1,000
St Michael & All Angels		Mount Dinham Exeter		1,200	St Saviour's Pimlico		2,000
St Anne's Derby				2,000	Great Yarmouth Minster		3,000
St Asaph Cathedral				2,000	St Peter's Wolverhampton		5,000
St Botolph's Boston				3,000	Leominster Priory		3,000
StPolycarp's Belfast				2,000	Leicester Cathedral		2,000
St Edmundsbury Cathedral				2,000
Southwell Minster				3,000
St Mary Magdalene Enfield Chase				2,000
All Saints' Leamington	Spa			2,000
Grimsby Minster				3,000
Fees					Fees
Wells Cathedral School				1,500	Exeter Cathedral School		2,000
Magdalen College School Oxford				1,000	Salisbury Cathedral	School	1,500
Salisbury Cathedral School (2 grants)				3,000	Dean Close School		2,000
Portsmouth Cathedral				2,000	King's School Gloucester (2 grants)		3,500
Manchester Cathedral	(2 grants)			2,000	Norwich Cathedral		2,000
Total				~44 200	Total		~50 000

ber, 2023, the Tr	ust'	s portfoli	os were dis	tributed across t	he following investment	classes.
					0/	2023
UK Gilts, bonds	and	other fixed-interest				7.83
UK Equities						20.63
European equities						2.18
North American	equities					13.18
Overseas Bonds						16.85
Global investments						18.04
Absolute Return	funds					4.39
Property (including		Common	Investment	Funds)		12.41
Other investments						3.43
Cash (with brokers)						1.05
Total					100	100

for the Year Ended	31	December	2023
							2023	2022
				Unrestricted	Restricted	Endowment	Total	Total
				funds	fund	fund	funds	funds
			Notes
INCOMING RESOURCES
FROM
Donations and legacies				200	5,000		5,200	646
Investment income				1,801	30	184,616	186,447	162,833
Transfer ofresources				157,658		~157,658)
Total				159,659	5,030	26,958	191,647	163,479
RESOURCES EXPENDED ON
Raising funds
Investment management		costs	4	522	120	26,958	27,600	27,680
				522	120	26,958	27,600	27,680
Charitable activities
Governance costs				28,060			28,060	31,160
Grant funding activities				107,825			107,825	95,453
Total				136,407	120	26,958	163,485	154,293
Net gains/(losses) on investments				13,367	4,782	116,027	134,176	~56f!,174)
NET
INCOME/(EXPENDITURE)				36,619	9,692	116,027	162,338	(558,988)
RECONCILIATION		OF
FUNDS
Total funds brought	forward			190,329	55,429	5,038,781	5,284,539	5,843,527
TOTAL FUNDS CARRIED
FORWARD				226,948	65,121	5,154,808	5,446,877	5,284,539

Balance Sheet 31 December 2023
					2023	2022
		Unrestricted	Restricted	Endo wtnent	Total	Total
		funds	fund	fund	funds	funds
	Notes					f.
FIXEDASSETS
Intangible assets Tangible assets investments	ll 12 13	184,152		5,115,581	2,240 5,363,508	2,880 786 5,176,604
				5,115,581	5,365,748	5,180,270
CURRKNT ASSETS
Debtors	14			4,430	12,522	28,543
Cash at bank	1.5			41,522	90,099	117,167
					102,621
CREDITORS
Amounts falling due within one
year					(21,492)	(41,441)
NKT CURRENT ASSETS			1,346		81,129
TOTAL ASSETSLESS
CURRENT LIABILITIES
NKT ASSETS		226,948	65,I2I	5,154,898	5,446,822	5,284,539
FUNDS
Unrestricted 6&nds					226,948	190,329
Restricted funds					65,121.	55,429
Endowment funds					5,154,808	5,038,781
TOTAL FUNDS					5,446,877	5,284,539

						2023	2022
	Donations					5,200	646
						5,200	646
3.	INVESTMENT		INCOME
						2023	2022
	Investment income					185,962	162,727
	CAF interest					485	106
						186,447	162,833
4.	INVESTMENT		MANAGEMENT		COSTS
						2023	2022
	Total investment management Less: fees on purchases/sales			charges (see note 13)		27,682 ~82)	28,312 ~632)
	Management	charge				27,600	27,680

5.	CHARITABLE A	CTIVITIE	S C	OSTS
					Grant
					funding	Support
					of	costs
					activities
					(Seenote 6)	(See note 7)	2023	2022
	Governance and finance costs					25,360	25,360	31,160
	Grant funding activities				88,004	22,393	110,397	95,453
					88,004	47,753	135,757	126,613
	2022 accounts				78,890	47,723	126,613
6.	GRANTS PAYABLE
							2023	2022
	Grants authorised	to institutions					94,200	80,890
	Grants authorised	to individuals
	Total grants authorised						94,200	80,890
	Reconciliation of	grant funding		activities to grants	authorised
	Grants authorised						94,200	80,890
	Grants authorised Grants authorised	in 2022 but in previous	not taken up years but subsequently		repaid		~6,196)	(2,000)
	Grant funding activities per note			5			88,004	78,890

SUPPORT C	OSTS
			Management	Finance	Overheads	Grant funding	Totals
						activities
Investment management
costs			27,600				27,600
Governance costs				60	28,000		28,060
Grant funding	activities					19,821	19,821
			27,600	60	28,000	19,821	75,481
2022 totals			27,680	81	31,079	16.563	75,403
					Grant
			Basis of	Governance	funding
			apportionment	costs	activities	2023	2022
Clerk's salary			'/0 ofactual	7,103	14,206	21,309	20,250
Pensions			'/0 ofactual	232	463	695	608
Trustees' expenses			Actual	1,656		1,656	1,464
Postage, stationery		and
travelling			'/0 ofactual	593	1,186	1,779	1,353
Sundry expenses			Actual	35	592	627	852
Accountancy	fees		Actual	5,597		5,597	5,088
Independent	examiner's
fees			Actual	3,960		3,960	3,600
Legal fees			Actual	5,249		5,249	12,746
Professional	fees		Actual	2,700		2,700
Bank charges			Actual	60		60	81
Publicity (including
website)			Actual		1,623	1,623	(545)
Amortisation	ofcomputer
software			'/0 ofactual	613	1,227	1,840	1,440
Depreciation	ofcomputer
equipment			'/0 ofactual	262	524	786	786
				28,060	19,821	47,881	47,723
2022 totals				31,160	16,563	47,723

Trustees'	expenses
		2023	2022
Trustees'	costs reimbursed	623	589
Costs of	trustees' meetings	1,033	875
		1,656	1,464

COMPARATIVES FO	R THE STATEMENT	OF FINANCIA	L ACTIVITIES
		Unrestricted	Restricted	Endowment	Total
		funds	fund	fund	funds
INCOMING RESOURCES FROM
Donations and legacies		646			646
Investment income		866	3	161,964	162,833
Transfer ofresources		134,891		~)34,891)
Total		136,403		27,073	163,479
RESOURCES EXPENDED ON
Raising funds
Investment management	costs	487	120	27,073	27,680
		487	120	27,073	27,680
Charitable activities
Governance costs		31,160			31,160
Grant funding activities		95,453			95,453
Total		127,100	120	27,073	154,293
Net gains/(losses) on investments		~)5,009)	~4,4)0)	~548,755)	~568,174)
NET INCOME/(EXPENDITURE)		(5,706)	(4,527)	(548,755)	(558,988)
RECONCILIATION	OF FUNDS
Total funds brought forward		196,035	59,956	5,587,536	5,843,527
TOTAL FUNDS CARRIED FORWARD		190,329	55,429	5,038,781	5,284,539

11.	INTANGIBLE FIXEDASSETS
		Computer
		software
	COST
	At 1 January 2023	4,320
	Additions	1,200
	At 31 December 2023	5,520
	AMORTISATION
	At 1 January 2023	1,440
	Charge for year	1,840
	At 31December 2023	3,280
	NET BOOK VALUE
	At 31December 2023	2,240
	At 31December 2022	2,880
12.	TANGIBLE FIXEDASSETS
		Computer
		equipment
	COST
	At 1 January 2023 and 31 December 2023	2,357
	DEPRECIATION
	At 1 January 2023	1,571
	Charge for year	786
	At 31 December 2023	2,357
	NET BOOK VALUE
	At 31 December 2023
	At 31 December 2022	786

FIXEDASSETINVE	ST	MENTS
		Unrestricted			Restricted		Endowment
Listed investments		funds				fund	fund	Total 2023	Total 2022
Market value as at
31 December 2022		181,377				54,333	4,905,894	5,141,604	5,655,636
Additions"						5,059	357,982	363,041	759,380
Dispo sais* Net gains/(losses) **		(10,592) 13,367				(398) 4,781	(299,322) 116,027	(310,312) 134,175	(705,238) ~568,1743
Market value as at
31December 2023		184,152				63,775	5,080,581	5,328,508	5,141,604
Britten ms at valuation	at
Cy-Pres scheme inception							35,000	35,000	35,000
Total value as at
31December 2023		184,152				63,775	5,115,581	5,363,508	5,176,604
Historical cost as at
31December 2023		150,774				51,706	4,244,460	4,446,940	4,779,522
Investments at market value comprised:								2023	2022
Equities								3,999,167	4,108,200
Fixed interest securities								1,329,341	1,033,404
Listed investments								5,328,508	5,141,604
Britten ms at valuation	at	Cy-Pres scheme	inception					35,000	35,000
Fixed asset investments								5,363,508	5,176,604
Included in equities are overseas invested			funds		and	unit trusts:		827,574	729,357
*The additions and disposals ofinvestments				during		the year		Total 2023	Total 2022
are stated after including		stockbroker's	costs:-
Contract fees (including		commission chgs)						82
Levy fees
								82	632

	Unrestricted	Restricted	Endowment
**Net gains/(losses) 2023	funds	fund	fund	Total 2023
Realised gains/(losses) (net)	219	38	(23,215)	(22,958)
Unrealised gains/(losses) (net)	13,148	4,744	139,242	157,134
	13,367	4,782	116,027	134,176
	Unrestricted		Endowment
**Netgains/(losses) 2022	funds		fund	Total 2022
Realised gains/(losses) (net) Unrealised gains/(losses) (net)	(823) (29,509) (30,332) ~14,186)~4,410)~5)9,246)~537,842) ~15,009)~4,410)~548,755)~568,174)

DEBTORS	:AMOUNTS FA	LLING	DUE WITH	IN ONE	YEAR
						2023	2022
Expendable	fund:
Funds held	at brokers					7,571	5,444
Amounts owed by Pickering Designated			fund to Expendable		fund	120
Prepayments						401	122
						8,092	5,566
Endowment	fund:
Amounts owed by Expendable		fund to	Endowment	fund		4,430	22,977
						4,430	22,977
						12,522	28,543

					Birch	Pickering	Total
				Expendable	Designated	Designated	Unrestricted
				fund	fund	fund	funds
Cash	held	at	CAF Bank	40,614	4,517	114	45,245
Cash	held	at	brokers	1,045	387	524	1,956
				41,659	4,904	638	47,201
				Pickering		2023	2022
				Restricted	Endowment	Total	Total
				fund	fund	funds	funds
Cash	held	at	CAF Bank	995		46,240	33,977
Cash	held	at	brokers	381	41,522	43,859	83,190
				1,376	41,522	90,099	117,167

							2023	2022
Expendable fund:
Trade creditors							314	184
Other accruals							9,813	11,479
Amounts owed to	Endowment		fund by Expendable		fund		4,430	22,977
							14,557	34,640
Pickering Designated		fund:
Other accruals							30	30
Amounts owed to	Expendable		fund by Pickering	Designated		fund	120
							150	30
Birch Designated	fund:
Other accruals							30	30
Total unrestricted	creditors						14,737	34,700
Pickering Restricted:
Other accruals							30	30
							30	30
Endowment fund:
Other accruals							6,725	6,711
							21,492	41,441

MOVEMENT IN	F	UN	DS
				Expendable	Birch	Pickering	Total
					Designated	Designated	Unrestricted
Opening balance				43,317	94,012	53,000	190,329
Incoming resources				1,972		29	2,001
Resources expended				(136,137)	(150)	(120)	(136,407)
Gains/(losses)				1,711	7,089	4,567	13,367
Transfers between		funds
Unrestricted				10,000	(10,000)
Endowment				157,658			157,658
Restricted
Closing balance				78,521	90,951	57,476	226,948
Net assets
Fixed assets
Intangible	assets			2,240			2,240
Tangible assets
Listed investments				41,087	86,077	56,988	184,152
				43,327	86,077	56,988	186,392
Current assets
Debtors				8,092			8,092
Cash at bank				41,659	4,904	638	47,201
Creditors - amounts one year			falling due within	49,751 4,904 638 55,293 ~)4,557)~30)~150)~14,737)
Net current (liabilities)/assets				35,194	4,874	488	40,556
Total assets less		current liabilities-
net assets				78,521	90,951	57,476	226,948

				Total	Pickering	Endowment	Total
				Unrestricted	Restricted		Funds
Opening balance				190,329	55,429	5,038,781	5,284,539
Incoming resources				2,001	5,030	184,616	191,647
Resources expended				(136,407)	(120)	(26,958)	(163,485)
Gains/(losses)				13,367	4,782	116,027	134,176
Transfers between	funds
Endowment				157,658		(157,658)
Restricted
Closing balance				226,948	65,121	5,154,808	5,446,877
Net assets
Fixed assets
Intangible assets				2,240			2,240
Tangible assets
Listed investments				184,152	63,775	5,080,581	5,328,508
Holograph ms	composition		sketch of
Britten String	Quartet No.		2, Opus 36			35,000	35,000
				186,392	63,775	5,115,581	5,365,748
Current assets
Debtors				8,092		4,430	12,522
Cash at bank				47,201	1,376	41,522	90,099
Creditors - amounts one year		falling due within		55,293 1,376 45,952 102,621 ~)4,737)~30)~6,725)~21,492)
Net current assets				40,556	1,346	39,227	81,129
Total assets less current liabilities-
net assets				226,948	65,121	5,154,808	5,446,877