ANN DRIVER TRUST
Charity Number: 801898
TRUSTEES’ ANNUAL REPORT
and
ACCOUNTS FOR THE YEAR ENDED
30 JUNE 2025
:
ANN DRIVER TRUST
THE TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025
The Trustees have pleasure in presenting their report for the year.
History and background to the charity
The Ann Driver Trust is a registered charity, number 801898, and was founded in June 1989 in memory of Ann Driver MBE, musician and broadcaster, who died in 1985. The charity is governed by the Trust Deed dated 12 June 1989, as amended on 3 February 2022. 3
Ann Driver became a “household” name in the 1930’s through her BBC Music and Movement programmes for young children, based on her own interpretation of Dalcroze Eurhythmics. She also contributed music and nursery rhymes to the “Listen with Mother” series. She studied under Emile Jacques-Dalcroze at the Institut Jacques-Dalcroze in Geneva and, together with her sister, she travelled throughout Europe demonstrating the Dalcroze method of teaching music through movement.
Ann Driver was a prolific composer and a gifted improviser. In addition to composing, she took a particular interest in teaching music to talented children and she had several books published on her work with children, She was also interested in the other arts and gave generously of her time and money to support young people embarking on an artistic career. She was married to the poet Trevor Blakemore.
Considering her deep concern and commitment to the musical education of the young, it was decided that the Trust should be used to advance the education of youth in the arts with special emphasis on music. Grants are made to musical organisations and to nominated specialist schools and colleges, to be awarded to students selected by these organisations. Ex gratia payments are occasionally made in cases of exceptional hardship. The Trust does not make loans for the purchase of musical instruments; it assists only students studying in the UK.
President The President of our charity is Julian Lloyd Webber OBE
Trustees The present Trustees who served throughout the year are: Robert Pritchett (Chair) Alasdair Tait Kathleen Duncan OBE Sophia Rahman Daisy Vatalaro
Tim Wakeley retired as a trustee on 27 February 2025. Sadly, we also report the death of Nicola GainesArmitage, who served as a trustee from June 2015 until her death on 8 September 2024.
==> picture [3 x 2] intentionally omitted <==
----- Start of picture text -----
:
----- End of picture text -----
The Trustees meet regularly throughout the year and decide which applications from institutions best meet the aims of the charity and merit becoming beneficiaries. New Trustees are appointed by the existing Trustees as a body.
Administrative and management details Secretary to the Trustees: Penny Neary & Principal office Ann Driver Trust 26 Fitzroy Square London W1T 6BT
2
+1
ANN DRIVER TRUST
The Trustees’ Report ( continued )
Administrative and management details ( continued)
Principal Bankers: CAF Bank Limited 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ
Investment Managers:
J. M. Finn & Co 4 Coleman Street, London EC2R 5TA
Independent Examiner:
A.K. Skinner FCA Green Hayes Forest Road Pyrford Woking Surrey GU22 8LU
Objectives and activities
The principal activity of the Trust has continued to be the distribution of scholarships and bursaries for the advancement of education in the arts, principally music.
During the year the trustees reviewed the charity’s policy for selecting students to be supported. It was agreed that in the future grants will be made to students with a specific passion and commitment to education and who have the requisite skillsets to work with young learners.
The Trustees confirm that they have referred to the advice contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities : and setting the grant making policy for the year. The Trustees believe that the activities undertaken by the charity constitute the proper provision of public benefit to talented musicians who meet the criteria set by the charity. The charity has continued its successful programme of raising its profile through its website. This enables all those talented in music and the arts to identify the aims and objects of the charity.
The Trust observes an equal opportunities policy.
Financial review
The format of the Statement of Financial Activities enables the Trustees to identify changes in the value of investments and related costs of managing the portfolio. The layout also enables the Trustees to identify funds available for grant-making and, at their discretion, to be able to increase grants payable from the capital base of the charity as well as from income received in the year.
Dividend income and interest received showed an increase to £43,577 ( 2024 - £29,815). After the expenses of running the charity which were similar to 2024 at £10,725, there remained £32,852. Out of this grants were paid in the year of £30,500 ( 2024 - £33,000) leaving £2,352 to be added to the Income Account to carry forward. In addition, the market values of investments increased by £37,313, enabling the trustees to transfer £13,286 from the Capital Account to Income Account to provide for future grants to be made.
3
:
ANN DRIVER TRUST
The Trustees’ Report ( continued )
Risk management
The Trust’s total assets have increased in value by 3% in the year to £944,336 at 30 June 2025. The assets principally comprise stocks and shares and a deposit account, which are held and managed by the investment managers. The performance of the investments is monitored by the Trustees at each of their meetings held twice a year. The sum of £44,170 is held as undistributed income at the balance sheet date. All assets are held entirely as unrestricted funds. The Trustees aim to make grants each year at least equal to income, less support and other running costs, and maintain the income of the trust.
%
Responsibilities of the Trustees
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
The provisions of charity law require the Trustees to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) . The financial statements are required by law to give a true and fair view of the state of affairs of the charity as at the balance sheet date, and of the income and expenditure for that period. In preparing those financial statements the Trustees are required to: -
-
(a) select suitable accounting policies and then apply them consistently;
-
(b) make judgements and estimates that are reasonable and prudent; and
-
(c) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue on that basis.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the requirements ofthe Charities Act 2011 and 2022. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
Reserves and investment policies
It is the policy of the Trustees to maintain reserves at a sufficient level to generate adequate income from which to pay scholarships and bursaries. The Trustees seek to minimise financial risk and maximise returns from their investments through day to day management of the portfolio by J M Finn & Co.
This report was approved by the Board of Trustees on 25 February 2026 and was signed on their behalf by:
Robert Pritchett, Chair
4
'
.
ANN DRIVER TRUST
.
STATEMENT OF FINANCIAL ACTIVITIES
Income & expenditure account For the year ended 30 June 2025
| UNRESTRICTED FUNDS | 2025 | 2024 | |||
|---|---|---|---|---|---|
| Capital | Income | Capital | Income | ||
| Account | Account | Account | Account | ||
| Income | Note | £ | £ | & | £ |
| Investment Income : |
|||||
| Dividends and interest recetved | 43,577 | 29,815 | |||
| (Loss)/Profit on sale ofinvestments | (1,627) | (6,461) | |||
| Increase in market value | |||||
| ofinvestments | 37,313 | 80,572 | |||
| Total Income | 35,686 | 43,577 | 74,111 | 29,815 | |
| Expenditure | |||||
| Costsofgeneratingfunds | |||||
| Investmentmanagement costs | 10,969 | 10,492 | |||
| Charitable activities: | |||||
| Scholarships and bursaries paid | 2 | 30,500 | 33,000 | ||
| Support costs | 3 | 9,798 | 9,792 | ||
| Publicity | 3 | 177 | 449 | ||
| Other expenditure: | |||||
| Independent Examiner’s fee | 750 | 750 | |||
| Total Expenditure | 10,969 | 41,225 | 10,492 | 43,991 | |
| Net Income/(Outgoings) | 24,717 | 2352 | 63,619 | (14,176) | |
| Transfers between funds | (13,286) | 13,286 | (9,780) | 9,780 | |
| Total funds, broughtforward | 888,735 | 28,532 | $34,896 | 32,928 | |
| Fundscarriedforward | £900,166 | 44,170 | £888,735 | 28,532 |
3,
s
’
ANN DRIVER TRUST
BALANCE SHEET As at 30 June 2025
==> picture [399 x 361] intentionally omitted <==
----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|Capital|Income|Capital|Income|
|Account|Account|Account|Account|
|Fixed|Assets:|Investments|Note|£|2|£|E|
|Stocks|and|shares|
|Managed|by|J M|Finn &|Co.|
|(see|note 4|)|
|-at market|value|4|898,680|890,246|
|(Cost - £679,618;|2024|- £715,004)|=SSsSs=|===|
|Current|Assets:|
|Debtors|-|1,154|-|1,079|
|Bank|accounts|:|
|- CAF — Current|-|3,325|-|6,370|
|-|J.M.|Finn|&|Co.|—|Deposit|1,486|-|(1,511)|-|
|—|Income|-|40,44]|.|22,233|
|1,486|44,920|(1,511)|29,682|
|Less|:Current|Liabilities|
|Accruals|-|750|-|1,150|
|Net|Current Assets/(Liabilities)|1,486|44,170|(1,511)|28,532|
|TOTAL UNRESTRICTED FUNDS|£900,166|44,170|888,735|28,532|
----- End of picture text -----
The financial statements on pages 5 to 8 were approved by the Trustees and authorised for issue on 25 February 2026, and are signed on their behalf by:
reas ngs peonecospaestte
6
.
:
ANN DRIVER TRUST
NOTES TO THE ACCOUNTS
- ACCOUNTING POLICIES
The principal accounting policies ofthe charity have remained unchanged from the previous year. The policies are set out below.
(a) Basis of accounting
The financial statements have been prepared under the historical cost convention, except as modified for the annual revaluation of fixed asset investments. The financial statements have been prepared in accordance with the Statement of Recommended Practice : Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Charities Acts 2011 and 2022. Income and expenditure are accounted for on an accruals basis.
(b) Funds
All items within the Income & Expenditure Account and the Balance Sheet are held within unrestricted funds and hence can be used in accordance with the charitable objects and at the discretion of the trustees.
- (c) Investments
Investments are stated at market value. The gains or losses arising upon their annual revaluation or on the sale of the investments are included in the statement of financial activities.
(d) Trustees’ remuneration and expenses
No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any Trustee or any person or persons known to be connected with any of them.
2.
Scholarships and bursaries paid
| Scholarships and bursaries paid | ||
|---|---|---|
| 2025 | 2024 | |
| ClonterFarm Music Trust | 2,500 | 5,000 |
| Guildhall School ofMusic and Drama | 3,000 | 3,000 |
| Royal Northern College ofMusic | 3,000 | 3,000 |
| The Dalcroze Society | 1,000 | 1,000 |
| Royal Academy ofMusic | 3,000 | 3,000 |
| Royal College ofMusic | 3,000 | 3,000 |
| Royal Welsh College ofMusic and Drama | 3,000 | 3,000 |
| Trinity Laban Conservatoire of Music& | ||
| Dance | 3,000 | 3,000 |
| IMS PrussiaCove | 3,000 | 3,000 |
| YCAT | 3,000 | 3,000 |
| Birmingham City University | 3,000 | 3,000 |
| £30,500 | £33,000 |
7
ANN DRIVER TRUST
NOTES TO THE ACCOUNTS
==> picture [412 x 431] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|3|Grant|making support|costs|2025|2024|
|£|£|
|Administrator’s|salary|9,600|9,500|
|Postage,|stationery|and|secretarial|expenses|5|27|
|Telephone|and|fax|32|30|
|Computer|support|costs|101|175|
|Bank|charges|60|60|
|General|expenses|-|=|
|9,798|9,792|
|Publicity|
|Website|development|and|internet|0|256|
|Reception|177|193|
|177|449|
|4.|INVESTMENT ASSETS|
|Stocks|and|shares|at|market|value|
|Opening|balance|at|1° July 2024|890,246|832,469|
|Additions|at cost|107,007|127,220|
|Sales|997,253|959,689|
|proceeds|(134,259)|(143,554)|
|(Loss)/Profit|862,994|816,135|
|Increase|on sale of investments|(1,627)|(6,461)|
|in|market|value|37,313|80,572|
|Closing|Balance|at 30" June 2025|£|898.680|£890,246|
----- End of picture text -----
8
7
ANN DRIVER TRUST
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
I report on the accounts of the Trust for the year ended 30 June 2025, which are set out on pages 5 to 8.
Respective responsibilities of trustees and examiner
The charity’s Trustees are responsible for the preparation of the accounts. The charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
e examine the accounts under section 145 of the 2011 Act ; e to follow the procedures laid down in the General Directions given by the Charities Commission under section 145(5)(b) of the 2011 Act; and
-
e to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view”, and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements
- e to keep accounting records in accordance with section 130 of the 2011 Act; and e to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
A.K. Skinner, FCA Green Hayes, Forest Road, Pyrford, Woking, Surrey GU22 8LU 25 February 2026
9