ANN DRIVER TRUST Charity Number: 801898 TRUSTEES, ANNUAL REPORT And ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2022
ANN DRIVER TRUST THE TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2022 The Tntee5 hve pleJ[e in pt¢sentin8 their report for the year. History #nd ba¢kgrouDd to ¢h¢ ch#rlty The Ann Driver Tnjsl is a registered charity. number 801898. and was founded in June 1989 in m¢mory of Ann Driver MBE, 91clan and broadt&ster, who died in 1985. The charity is govemed by the Trust Deed . dated 12 June 1989, as amended on 3 F¢lw 2022. She became a -hoLLsehold' name in the 1930's through her BBC Mwic and Movemeni programmes for young ¢hildren. based on her own interpretalion of Dalcroze Eurhythmies. She gllso ¢ontributed music and nurs¢ry rhymesto the"Listen wirh Al01he series. She studied under Emile Jacques-D81croze at the Institut Jacques-Dalcroze in G¢n¢va an¢£ together with her sister. she travelld throughout Europe demonstratin8 the Dai¢roze method of I¢hing music through movement. Ann Driver WLS a prolific ¢omix)ser and a 8ifted improviser. In addition to u)mwsing. she took a particular intere51 in teachin8 music tts tslented children and she had sevcrdl l)ooks published on her work with children. She was a150 interested in the other arts and 8ove generO51Y of her time and money to support youn8 0P1¢ embarking on an artistic career. Sh¢ was matried to the po¢t Trevor Blakernore. Considering her deep ¢on¢ern and commitmeni io the musical education of the youn& it was de¢id¢d that the Trust should b¢ used to advance the edueation of y¢Mth in the arts with special empha$i$ on music. Grdnts are made to musical organisations and io nominated Speciall $¢hools and college¥ to b¢ awarded lo students sel¢d¢d by these organisaiions. Ex 8rnti8 payments are occasionally m3(k in cases of exceptional hJrd5hip. The Tn does noi m8ke loans forthe pur¢hL4e of musical instruments; it ossisls only students studyin8 in the UK. The ¢hgrity reviewed and UF¥Jated its Conslltution with administrative change& eff¢¢tive from 3 February 2022. Presidettt Th¢ President of our ¢hority is Julian Lloyd Webber OBE Trnsttts The present Tru¢¢$ who served thro th¢ year Rob¢rt Pritchett (Chainnan) 'rim Wakeley Al8sdair Tait Kathleen Dunc4n OBE Sophia Rahman Ni¢018 Gaine5-Arnii1¥8¢ The Truslees meet re8ularly throughout the year and decide which appli¢ation5 frorn institutions best meet the aims of the charity and merit becoming bEneficiaries. New Trustees are appointed by the existing TnLee$ as a body. Admlnistrativ¢ managtmet detib Secretary to the TLee5. & Principal office Neary Atm Driver Tnt 26 Fitzroy Squ8re London WIT6BT
ANN DRIVER TRUST The Trustees, Report { continued ) Admltti4trative #Dd mogement d¢taib ( e0ntIn¢d) Prirtcipal Bankers: CAF Bank Limit1 25 Kings Hill Avenue. Kings Hill, W¢st Mailin& K¢nt ME19 4JQ Investment Managers: J. M. Finn& Co 4 Coleman Stree( London EC2R STA tndependen¢ Examiner.. A.K. Skinner FCA Gr¢¢n Hayes Forest Road Pyrford Wokin¥ Surrey GU22 8LU Objectives attd *etiwiti The principal activity of the T1 has continued to b¢ the distribution of scholarships and bursaries for the advancement of eduu¢ion in the arK principally Mlc. The T¢¢5 confimi that they have referred to the advice contained in the Charity Commission's general guidanc¢ on public benefit when reviewing the Trust's aims And objeetives and in plannin8 future activities and settirbg the grant rnaking policy for the year. The TnteeS beli¢ve that ihe activities undertaken by th¢ charity constitule the proper provision of public benefit io tslenied musicians who meet the eriteria sd by the charity. The charity has continued their successful prograrnme of raisin8 its profile through its website. This enables all those talented in music and the art5 to identify the aims and objects of the charity. The TnL8t observes an equal opportunittes EX)Iicy. FIN#tt¢lal r¢vt¢w Th¢ format of the Statement of Financial Artivitie5 enables the TtttS to identify chan¥es in the value of investments and related ¢05ts ofmanaging the portfolio. The layout also enables the Tntstees to identify funds available for grant-making and, ai their discretiotL to be able to inere&8e grants payable from the apital of the charity 05 well as ftom income received in the year. Invesknents perforrned well in 2021N21, recoverin8 well from the outbreak of the Covid-19 viru5 world- wide and the dramatic fall in values of investments in 2019-20. However, political uncertainty and e¢onomi¢ upheaval due lo the war in Ukraine and 50aring encr&y cost hav¢ l¢4 to a disappointing decrease in th¢ value of investments durin8 the year 2021-22 of £47,853. as Shown on pa8e S. The total fid5 held by the investment managers also de¢re&d by 8.29h from £975.561 to £895.157 at 30 June 2022. Income r¢¢eived in the year decre&sed to £31,799 (2021- £34,998) reflecting the wJc¢rtaintie5 of the malket. The Trustees agreed to a transfer of fiands between Capilal and In¢ome fimds in th¢ year of £13230 to continue to support students grants in a diffiwli year. Expenses were £10,055 compared to £9.438 Kn 2020-21. Grts awarded were £31.5 {2021 - 7.5). Funds available for distrkbution at th¢ year end were £37.546 { 21r21- £34.OT2).
ANN DRIVER TRUST The Trustees, Report ( continued ) Risk Ma#£ement The Trst.$ total assets have decr¢ased in value by S.P/o in the y¢arto £950.415 8t 30 June 2022. The assets principally compris¢ Stocks and shares and a deposil accounl which are held and managed by the investment managers. The perfornwKe of th¢ investments is monitotrd by the TMt¢es at each of their meetings held twice a year. The sum of £37.546 is held as undistributed income at the balance sheet date. All assets are held entirely unrestricted fijnds. The Trt aiTn to moke grants each year ot least equa] < ' to income, less support and (rther nmning ¢ost$. and maintain th¢ income of the tSt. R¢spoll$ibilitieJ of the Tn19 The Trusttts 8re responsible for Frtparing th¢ Tru*ee5' Rep)rt and the financial thtements in accordan¢¢ with #pplicable ]aw ond re8ulation3. The Frovisions of charity law require the TTUSt¢¢s to prepare financial sMements for each fu)Ancial year. Under that law, the Trustees have elected to Pf¢P8re the fmancial atements in accordance with United Kingdom Generally Accepted Accounling Proctiee (United Kingdom Aecounting Standards and applicable law) . The firwKial statements are required by law lo give 8 true and fair view of the 518te of alTairs of the charity as a¢ the balance shcet date, and of the income and expenditure for thal period. In preparing those financiol statements the TTUSt¢es are required to.. - (a) s¢lect suitsble A¢counlin8 policies and then apply consislenily: (b) make judgemenls and estimates that are reasonable and prndent. and (c) prepare the fin4n¢i41 statements on the going ¢on¢em basis unkss it is inappropriate to presume that the chaTity will continue on that basis. The Trustees are respOlb1¢ for keepin8 proper 8¢¢ountin8 records. which disclose with reasonable 4¢wraey at any time the financial p)sition of the ¢lJarity gnd to enable them to ensure that the financial 5tatememts comply with the rniuirements of the Charities Aa 2011. They are aiso responsible ftjr 5afeguardin8the assets of the ¢h8riry and hence for taking re¥sortable sieps forthe prevention and detection of fraud or other irre8ul#ritie8. Reserves and inwes¢ment poll¢l¢s It is the policy of th¢ Ttustees to maintain r¢s¢rves at a sufficient level lo generate adequate income from which to pay hOlarShipS and bursaries. The Trustees Seek to minimise financial risk and maximise rcturns from their inves¢m¢nts thriMJ8h day to day mww8emertt of the portfolio by J M Finn & Co. This report was approved by the Board of Trusttts on 24 January 2023 and wa5 $ied on their t¢half by.. R.W. P
ANN DRIVER TRUST STATEMENT OF FINANCIAL AcrtvrriES IDcome & expenditure aeeount For the year ended 30 June 2022 UNREsfRICfED FUNDS 2022 C•pitsl lTreome A¢¢ount A¢¢fjunt 2021 Capital In¢ome Accouni Ac¢oum Imsinnt Incon '. Dividends Interest from banks 8nd other funds.. 31.584 215 34.970 28 Profitl{loss) on $4Ie of inveylrnents (De¢rey]ntre in rnarkd value of investsnen 10.779 (2.169) (47,853) 1fy1.708 Total ID¢ome (37.074) 31.799 98.539 34.998 Expemdl¢ure Cosrs ofxert¢raiingfvn Investment matgeMen1 ¢osls 10.681 6,624 Clritable aclivitKs' S¢holarships #nd bursaries paid Support wsfs Publicity 31.5 9.160 395 27.500 8,833 105 Other expenditure.. Independent Examin¢r'$ fe¢ 5(Xi 500 Totsl Expellditure 10,681 41J55 6.624 36.938 Net IDcomel{Outgolnp) (47,755) (9,756) 91,915 (1.940) Transfers between funds (13230) 13230 3.323 (3,323) Toialfunds, brougforard 973,854 34.OT2 878.616 39.335 Funds carried fonvard £912J69 37J46 £973,854 34.072
ANN DRIVER TRUST BALANCE SHEET As at 30 June 2022 21122 2021 Capital Income Account Account Capitsl Note Flxed Aets. IDvotments Stocks and shores Managed by J M Finn & Co. {seenote4) -91 maTk¢t value (Cost- £716.144: 2021- £659.831) 895.157 975.561 Curretht Awts: Other debtor Bank accounts with.. - CAF- Current - CAF- Dep051t . J. M. Finn & Co.- Deposit Income 6,344 8.951 236 17.712 (1.707) 31.979 25.351 38,323 34,652 L¢JJ :CUre Li*billtles A¢¢Tuals 777 580 Net Current knetsl(Llabilities) 17.712 37J46 (1.707) 34,072 TOTAL UNRLSTiucfED FUNDS £912069 37,546 973,854 34.072 Tr rm8ncial statements on pages 5 to 8 wwe approved by the Tnthes and authorised for issue on 24 January 2023. ¥nd 4r¢ Sign on their behalf by: W.Priich alm1
ANN DRIVER TRUST NOTES TO THE ACCOUNTS ACCOUNTING POLICIES The principal a¢countin8 policies of the charity have relnained unchanged from the Previous year. The policio are set out below. {•) B#sis of Kcounlin8 The fmancial statements have be¢n prepared under the historical cost convention, except as modified for the atmual revaluation of fixed asset investments. The fmancial statements vt be¢n prepared in accordance with the Ststement of Recommended Practice .' Aecountlng and R¢porting by Charities prwin8 iheir accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (fRS 102) issued on 16 July 2014 #nd the Charities Act 2011. Income and expendittsre are Iwount for on an acrnls basis. Ib) Funds All items within th¢ In¢4me & Expenditure Account and the Balance Shed art held within uiiresiria¢d fund$ and hence can be used in accordance with the charitable obje¢ts and the discretion of the truIte. (¢) Invcstments Investments are stated at markd value. The gains or losses ari$in8 uix)n their annual revaluation or on the sale of the investsnents ar¢ in¢luded in the statement of financial activities. (d) Trumees. remuneration and expenses No ronun¢raiion dir#tfy or indirectly oui of the fund$ of the Charity was paid or payable for the year ¢0 any TnJste¢ or any person or persons known to be connected with any of them. S¢h•lxTJhip3 bwrnrkj ld 2022 2021 Clonter Farni Music Tn Guildhall Scknl of MLLSIC and Drama Royal Northern College ofMwsi¢ The Dalcroze Society Royal Academy of MlC Royal Coll¢g¢ of Mthsi¢ Royal Welsh College Trinity Laban Conservatoire of Music & Dance IMS Pnwia Cove YCAT 2,51)0 2,500 4.000 1,000 4.000 4,000 4.OCK) 4.000 4.000 4,000 4,(K)O £31,$00 £27,500
ANN DRIVER TRUST NOTES TO THE AccouKrs Grnt mkiDg 511PPOrt costs 2022 2021 Administrator's salary Chan8e of Constitution charge Postage, stslionery yccrrtarj expenses Telephone #nd fax Computer support costs Bank charges General expertses 8.400 500 8.400 30 50 96 37 78 60 9.160 8,833 Pwblklty Websile and internet Re¢epliL)n 185 210 105 395 105 INVEsfMEIYT A&SETS Stocks #nd shm It w•rkei vlue Opening balanee ai 1° July 221 Additions 01 Wsl 975.561 862.447 142.543 148,607 1.118,104 1.011.054 (185.873) {134,032} Sales pr(eedS 932231 877,022 10.779 (2.169) (47.853) 100.708 Profrtl(lQ) on sal¢ of investments IDecreas¢yincreu¢ in market value Closing Balance at 30th June 2022 £ 895.157 £ 975.561
ANN DIUVER TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTFES I report on th¢ aUnts of the Tn foT the year ende4130 June 2022. which are set oul on page5 5 to. RespK¢ive respottsibili¢ies of tn #•d ¢xmiDer The chartty's Tnle¢S are reSt$1ble for the pTepar•tion of the accounts. The charity's Tnjstees considtt that an audit is noi requirfJJ for thi's year under section 144(2) of the Charities Act 2011 (the 2011 Act ) and that an independent ex8minalion is neojed. It LS my responsibility to.. examine the aoUnts under seaion 145 of the 2011 Aet ' to follow the procedures laid down in the General Dircctions siven by the Charities Commlssion under $e¢tion 145(5Xb) of th¢ 2011 Act: and to stst¢ whether portieular mattets have come to My attention. BsLq ofthd¢peide•t ¢xmlvr's report My examination was carried in COrd with the General Direclions given by the Charity Commission. An examination irKludes a review of the accounting reeords kept by the charity and comparison of the accounL8 pres¢nt¢d with those records. It also includes considerntion of any unusual items or disclosures in the ac¢ounts and seeking ¢xplanalions from you &8 trustees concerning any such matters. The procedures underfaken do not provid¢ ail the evidence that would be required in an audit, and con5equ¢ntly no opinion is given lo whether ihe accounts present a'lNe and fair view" and the report is limii¢d to those matters sd out in the ststement below. Imdepemd¢nl examlner'$ 8t*t¢m¢Mt In c(Jnne¢tion with My examinatio no matter has ¢om¢ to my attention: (I I whi¢h gives me reasonable Cause to believe in any material respect the requirements lo keep accouniin8 rerdS in accordmee with s¢dion 130 of the 2011 Act. artd • to prepare aceounls which accord with the accountin8 r¢¢ords and to ¢omply with the a¢¢ounting requirements of the 2011 Act have not been md. or ) to whiclL in my opinion, attention should be drawn in ordtt to en8bl¢ a proper und¢rs¢andin8 of the accounts io b¢ reathed. A.K. Skinner. FCA Green Hay£s. Forest Roa Pyrfor4 Woking, Surrey GU22 8LU 24 January 2023