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|||||||||
|---|---|---|---|---|---|---|---|
|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|
##
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##
|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|
##
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##
##
|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|
##
##