The Society

Trustees’ Annual Report and Accounts

For the year ended 31 March 2019

Registered Charity number 1156614 The Ralph Vaughan Williams Society

Year ended 31 March 2019

Reference and administrative details

Registered Charity 1156614

Honorary President Sir CBE

Honorary Vice-Presidents Stephen Connock MBE Joyce Kennedy

Trustees Simon Coombs Chairman John Francis Vice-Chairman and Treasurer Chairman, Albion Records Martin Murray Secretary Mark Hammett Membership Officer Director, Albion Records Graham Muncy Information Officer William Hedley Journal Editor Graham Aslet Dorking and Leith Hill Place Liaison Officer Roy Bexon Members’ meetings including the AGM John Treadway Concert Resources Officer William Vann Music Consultant and performer Laura Coombs (died 26 October 2018) Marketing Jonathan Pearson Discography Christopher Batt Leith Hill Place exhibition adviser Gaye Hadley (from 27 April 2019) Merchandising Ronald Grames (from 27 April 2019) Critical Discography

Officers Karen Fletcher Publicity and Events

Principal office c/o John Francis North House, 198 High Street Tonbridge, Kent TN9 1BE

Bankers Barclays Bank plc PO Box 33 Oxford OX1 3HS

Independent Examiner Trevor Lane Director in M N Jenks & Co Limited 72 Commercial Road, Paddock Wood Kent TN12 6DP

Website www.rvwsociety.com

1 The Ralph Vaughan Williams Society Review of activities and outlook for the coming year

Membership Our membership currently comprises 897 members from 23 countries worldwide; an increase of 12 members when compared to the same time last year. The stability of membership numbers indicates that our Society continues to provide a valuable service to its large and loyal group of supporters. Thirty of our original members from June 1994 are still with us, this perhaps being a testament to the quality of the Society’s offering, with the Journal quite rightly being regarded as best-in-class. We offer our sincere thanks to members for their continued support. Albion Records Albion Records had an outstanding year. Members and supporters were generous with financial support, and sales (especially of our Christmas recording) were good. So Albion enters the new accounting year in good shape.

In September 2018 we released Earth and Sky: Vaughan Williams Choral Premières with the Chapel Choir of the Royal Hospital Chelsea, conducted by William Vann, and Hugh Rowlands at the organ. James Altena wrote in Fanfare Magazine: ‘It is a magnificent ensemble, truly one of the best choral groups I’ve ever heard for vocal blend and clarity of diction, among other musical virtues.’ The recording was highly praised on Radio 3, and appeared in the UK Specialist Classical Chart. A Vaughan Williams Christmas, made by the same forces, was well-reviewed everywhere – there are some extracts on the Society’s website - with praise for the choir, its director, the producer and engineer and even the booklet notes. We had to print more copies, ready for next Christmas! In May 2019 we released Fantasia - the complete works for Viola and Piano played by Martin Outram and Julian Rolton – with Mark Padmore joining them to record the Four Hymns for Tenor, Viola and Piano. Hugh Canning wrote in the Sunday Times ‘The Maggini Quartet’s viola player, Martin Outram, has put together a rare and beautiful programme of less familiar Vaughan Williams. The Suite for Viola and Pianoforte, written for Lionel Tertis, is unjustly neglected, but works well in this piano reduction, and it is complemented by the Romance. The neglected Four Hymns are given vivid, trenchantly enunciated performances by the tenor Padmore.’ We have recorded two discs of songs by Vaughan Williams and Holst (the latter in conjunction with the Holst Society) with William Vann, piano, Jack Liebeck, violin, Mary Bevan, soprano, Kitty Whately, mezzo soprano and Roderick Williams, baritone. The Song of Love and Time and Space will be released in September and October 2019. In 2015 we made a “sampler” disc, Albion’s Vision - mainly for giving away to members, though we also sell them world-wide – and we put these into the new members’ “Welcome Pack”. In October 2019 we will be issuing a further compilation, Albion’s Journey, updating the story.

2 The Ralph Vaughan Williams Society Review of activities and outlook for the coming year

This autumn we shall be recording songs and piano works by Vaughan Williams’s pupil John Sykes, with Keri Fuge, soprano, Gareth Brynmor John, baritone, and William Vann, piano. The songs are all settings from William Blake’s ‘Songs of Innocence and Experience’ and the collection will be called The Voice of the Bard. Other events and performances The Songs of Travel (performed by Roderick Williams and Iain Burnside) were a major item in the last of the Woodbridge Chamber concerts, a series curated over many years by Society trustee John Treadway. A Vaughan Williams Festival took place in August 2018 at Down Ampney under the artistic direction of Philip Dukes. One of the highlights was James Gilchrist singing The Songs of Travel on the 60th anniversary of the composer’s death. Another highlight was the ‘Ralph Vaughan Williams’ beer brewed for the occasion by nearby Ramsbury Brewery, which made up for some heavy rain. Plans are under way for a similar festival in 2020. The newly formed ‘Vaughan Williams Singers’ celebrated that 60th anniversary with their inaugural concert at Leith Hill Place. Also in August, English Music Festival performed Nocturne and The House of Life at their Yorkshire festival. Proms performances in 2018 included Toward the Unknown Region, The Lark Ascending, the Pastoral and London Symphonies and Dona Nobis Pacem. The Society’s concert on the composer’s birthday, 12 October 2018, at St Stephen’s Church, Gloucester Road, London, launched Albion’s Earth and Sky recording. Gareth Brynmor John joined the Chapel Choir of the Royal Hospital Chelsea directed by William Vann to sing the Five Mystical Songs; we also heard the Three Vocal Valses, the Three Gaelic Songs and Valiant for Truth. More than forty performances of Dona Nobis Pacem took place as the 1918 Armistice was remembered. The English Music Festival showcased works by Vaughan Williams including Suite de ballet, In Windsor Forest and the Charterhouse Suite. The Pilgrim’s Progress was performed by students at the Royal Northern College of Music, Manchester. There were numerous performances of the symphonies in the UK during the year, conducted by John Wilson, Sir Mark Elder, Martyn Brabbins, Andrew Manze, Jeremy Backhouse, Marc Dooley and others. Overseas performances included our President, Sir Andrew Davis, conducting the Fifth Symphony in Boston, Sylvain Gasançon with the Fifth Symphony in Mexico City, Sir Mark Elder with the Pastoral Symphony in Washington, James Judd with the Fifth Symphony in Tenerife, Michael Francis with the London Symphony in Reutlingen, Albrecht Mayer (oboe) and Pietari Inkinen with the Oboe Concerto in Prague, Cristian Măcelaru with the Fourth Symphony in Munich (as well as Birmingham), and Jonathan Webb with the Fifth Symphony in Santiago de Compostela. This selection has been made to illustrate the composer’s ever-growing international standing; it would not be possible to list all significant performances. Media Holst and Vaughan Williams - Making Music English was a major BBC broadcast presented by Amanda Vickery and Tom Service, partly filmed at Leith Hill Place. Illustrating the story, the BBC Concert Orchestra performed excerpts of both composers' music. Crux Productions released John Bridcut's Vaughan Williams film-biography The Passions of Vaughan Williams on DVD.

3 The Ralph Vaughan Williams Society Review of activities and outlook for the coming year

New recordings In addition to the Albion recordings, 53 works by Vaughan Williams were recorded by other record labels during the year (not including a number of reissues). The number reduces to 44 if we remove works recorded more than once. They were made by 31 different performing groups and spread across 29 discs issued by 20 labels! A number of these are available only as downloads, and this emphasizes how the market is changing. Of particular importance were: • Martin Yates’s disc with the Royal Scottish National Orchestra including the first recording of incidental music that Vaughan Williams wrote for Maeterlinsk’s play The Blue Bird, as well as Norfolk March (a work that the Society commissioned from David Matthews), Variations for Orchestra and an EFDS Masque. • A Sea Symphony recorded by Martyn Brabbins with the BBC Symphony Orchestra and by Andrew Manze with the Royal Liverpool Philharmonic Orchestra. The recording of the Oboe and Piano Concertos by Sarah Jeffrey (oboe) and Louis Lortie (piano) with the Toronto Symphony Orchestra was nominated for a Grammy Award.

The Vaughan Williams Exhibition at Leith Hill Place The redesigned and relocated exhibition on the life of Vaughan Williams was completed in time for the re-opening of Leith Hill Place at the end of March 2018. The exhibition attracted favourable comment from visitors during 2018, but when the house closed at the end of October it was decided to make some minor changes to the arrangement of one of the exhibition rooms to allow for the possibility of adding new items to the exhibition. At the end of March 2019 a baton used by RVW and a pair of his spectacles, previously displayed at the Surrey Performing Arts Library at Denbies, were added to the collection. The Chairman has received from the Thewlis Trust a number of historic items, including material relating to a performance of Sir John in Love that took place in Oxford in 1930, that may be added to the exhibition during 2019. The National Trust has been preparing a long-term development plan for the future uses of Leith Hill Place and the Society remains in close contact with the Visitor Operations Manager to ensure as far as possible that the life and work of RVW continues to be celebrated in his childhood home.

The 2018 AGM The AGM took place at Denbies, Dorking, and was followed by an excellent talk on ‘My Friend Michael Kennedy’ by Andrew Neill, with both audio and visual illustrations. The AGM itself was recorded on video, at a length of about 54 minutes altogether, and made available to members via YouTube. Total viewing world-wide has amounted to about 24 hours, so clearly some members who were unable to attend the event found this worthwhile. We plan to repeat the experiment in 2019 on a tighter rein, resulting in a shorter video.

The Society Journal The Journal, under the editorship of William Hedley, is published three times a year, and is the major benefit of membership. Back numbers are available for purchase, but issues 1 – 40 are available as free downloads from the Society’s website, where you can find a brief summary of contents for each issue as well as detailed indices.

4 The Ralph Vaughan Williams Society Review of activities and outlook for the coming year

Topics covered in the last year included Vaughan Williams and the orchestra (and the brass band), Lord Justice [Uncle] Roland Vaughan Williams, Martin Shaw, and Vaughan Williams’s lecture on Wagner and his new Art, with much discussion of particular musical works and concert and CD reviews. Website Our website (rvwsociety.com) is a regular news source, a sales outlet (including facilities for paying members’ subscriptions) and a mine of information about Ralph Vaughan Williams and his music. This is a central and essential part of the Society’s offering. The webmaster has continued to update and develop it over the last year, and in particular our downloadable Vaughan Williams Bibliography has been updated.

Publications and research Stephen Connock’s book: Toward the Sun Rising – Ralph Vaughan Williams Remembered was launched in 2018. The book gathers together 85 individual recollections of the composer by those who knew him, published with Stephen’s concise introduction to the life of the composer. BBC Music Magazine gave the book five stars and described it as ‘Altogether, a charming and richly detailed introduction to the composer and his circle’ Gramophone Magazine concluded: ‘A job well done, then. Indeed, as a Vaughan Williams companion, Connock’s rewarding anthology is hard to beat, and enthusiasts will surely derive much lasting pleasure from it.’ An enhanced and updated Complete Discography, prepared and maintained by trustee Jonathan Pearson, is available on the Society’s website. It deals only with recordings that have been released in CD or another digital format (including material previously released on 78 rpm discs and LPs). Ronald Grames’s ‘Critical Discography’ is making good progress and we hope to release this in 2020. It will supersede the earlier ‘Selective Discography’, which is now a little out of date given the rate at which new recordings of the composer’s works are appearing.

Plans for 2019-20 Vaughan Williams’s representation at the 2019 Promenade Concerts comprises Serenade to Music, Valiant for Truth and the Tallis Fantasia. We look forward to this year’s tea and talk at the Three Choirs’ Festival, Gloucester, with special guest David Owen Norris to celebrate the Society's 25th Anniversary, prior to the performance of A Sea Symphony with the Philharmonia Orchestra conducted by Martyn Brabbins with soloists Katherine Broderick and Roderick Williams.

5 The Ralph Vaughan Williams Society Review of activities and outlook for the coming year

Major international performances in London include Job performed by the London Philharmonic Orchestra under Andrew Manze; Symphonies 4 and 6 with Sir Antonio Pappano and the London Symphony Orchestra; and Symphony No. 6 with the Philharmonia Orchestra under Esa-Pekka Salonen. Martin Yates will conduct his completion of Vaughan Williams’s The Future, a visionary masterpiece for chorus and orchestra – a project suggested to him by this Society in 2017. The 2019 AGM will be held in London, followed by a short concert to be given by Kitty Whately (mezzo soprano) and William Vann (piano). The Society’s 25th anniversary will be celebrated at a concert on 6 November 2019 in the Wren Chapel of the Royal Hospital Chelsea, given by the Chapel Choir under the directorhip of Society Trustee William Vann. The programme is not yet finalised, but is expected to include the Mass in G minor, the hymns written in the Second World War including The New Commonwealth, the Te Deum in G Major and O Taste and See. Plans to celebrate the composer’s 150th birthday year in 2022 are in hand. A note from the Chairman The Society has continued to flourish in the past twelve months, as can be readily seen from the foregoing pages. I am more than usually grateful to all the Trustees and committee members who have shouldered a greater burden than usual because of my enforced absence caring for my wife in her last months of life. In particular, my thanks go to John Francis, my Vice-Chairman, who took my place on many occasions and dealt with every demand which was put upon him. As well as being our Treasurer, he is of course Chairman of Albion Records. An important element of the Society’s success last year was the release of two Albion CDs of choral music performed by the Chapel Choir of the Royal Hospital Chelsea, directed by William Vann. A Vaughan Williams Christmas, has proved to be one of our most successful releases. I am also extremely grateful to all the members of the committee. Martin Murray and Mark Hammett as Secretary and Membership Secretary have key roles in the efficient running of the Society. William Hedley is maintaining the high standard of excellence of the RVW Journal. Karen Fletcher does tremendous work as our Publicity Officer. Graham Muncy and Chris Batt liaise with Leith Hill Place and Surrey County Council, developing our exhibition at LHP and helping with the relocation of the Performing Arts Library from Denbies. Roy Bexon organises the AGM every year. Jonathan Pearson manages the RVW complete discography, which you can see on our website. John Treadway and Karen Fletcher are taking the lead in planning for the 150th anniversary of RVW’s birth in 2022. Graham Aslet chairs the Leith Hill Musical Festival. William Vann makes a vital contribution to Albion Records as accompanist and conductor. In addition, we welcomed two new trustees to the committee in April 2019: Gaye Hadley and Ron Grames. All these roles are carried out with a willingness and professionalism for which any chairman must be immensely proud and grateful, and indeed I am. I look forward to seeing many of you at the Society’s AGM on 13 October, where you will learn something of what we are planning for the future, especially for the anniversary year in 2022. The meeting will be followed by a special concert to celebrate the 25th anniversary of the Society’s foundation.

Simon Coombs 4 June 2019 Chairman

6 The Ralph Vaughan Williams Society Trustees’ Report

The trustees present their annual report and financial statements of the charity for the year ended 31 March 2019. The trustees confirm that the report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity’s governing document and the provisions of “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2015) (Charities SORP (FRS 102)). The Legal and Administrative information on page 1 forms part of this report. Objects and activities The object of the Society is to advance education for the benefit of the public through the promotion of the life and work of Ralph Vaughan Williams, in particular by: (a) widening the knowledge, understanding and appreciation of his music; (b) encouraging the performance and recording of his music, including his lesser known works; (c) promoting understanding of his music through a deeper understanding of his life, including its social, economic and cultural context. In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. The Society organises meetings and concerts on an occasional basis. Its recording subsidiary, Albion Records, makes and publishes recordings. The Society has been instrumental in promoting recordings of RVW’s works made by other recording labels. The Society’s work is promoted by means of the RVW Journal, published three times a year and free to members. Structure, governance and management The charity is called The Ralph Vaughan Williams Society and is registered with the Charity Commission as number 1156614. It is also known by its alternative name, The RVW Society. The charity was formed in 1994 as an unincorporated association. It was re-registered as a Charitable Incorporated Organisation (CIO) on 10 April 2014 and the current Constitution may be found on the Society’s website. Trustees are elected by members at the Annual General Meeting, which is open to all members. New trustees are recruited generally by invitation, or by seeking volunteers at general meetings. Nominations for additional trustees may be made at or before the Annual General Meeting, for consideration at that meeting. New trustees are briefed on their legal obligations under charity law, the Charity Commission guidance on public benefit, and made aware of the charity’s constitution, decision-making processes, and financial position. The trustees meet three times per year and are responsible for all operating decisions. Trustees and Officers of the Society who served during the year are detailed on page 1 of this report. Achievements and Performance The review of activities commencing on page 2 forms part of this report. Financial review Income from subscriptions was a little less than that for the preceding year at £20,358. Recording sales exceeded £25,000, reflecting a successful year for Albion Records. Grants from the Vaughan Williams Charitable Trust (VWCT) and from members and supporters amounted to more than £31,000 before adding Gift Aid. These generous

7 The Ralph Vaughan Williams Society Trustees’ Report contributions funded recent and forthcoming recordings. Bank balances rose to £92,776 from £71,243 a year earlier. We have not yet drawn on any of the legacy received a year ago, but we expect to make calls on reserves over the next year or so. A surplus of £5,177 arose on General Fund, and that fund now stands at £39,167. Risks and Reserves The trustees have reviewed the risks to which the Society is exposed and consider them to be relatively few. The Society has a steady income stream and sufficient reserves to deal with financial risks. The General Reserve is adequate to meet day to day working capital requirements, which are estimated to be about £20,000 to £25,000. We have additional uncommitted reserves which we hope to use on musical projects including future Albion recordings. Statement of trustees’ responsibilities The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: • select suitable accounting policies and then apply them consistently; • observe the methods and principles in the Charities SORP; • make judgements and estimates that are reasonable and prudent; • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Independent Examiner The re-appointment of Mr Trevor Lane FCA, director in M N Jenks & Co Limited, Chartered Accountants, as our Independent Examiner will be proposed at the Annual General Meeting. Signed on behalf of the trustees:

Simon Coombs Chairman 4 June 2019

8 The Ralph Vaughan Williams Society Independent Examiner’s Report

Independent Examiner’s Report to the trustees of The Ralph Vaughan Williams Society Group (‘the Group’) I report to the charity trustees on my examination of the consolidated accounts of the Group comprising The Ralph Vaughan Williams Society (‘the Charity’) and its subsidiary undertaking for the year ended 31 March 2019. Responsibilities and basis of report As the trustees of the Charity you have chosen to prepare consolidated accounts for the Group and are responsible for the preparation of those accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You are satisfied that the accounts of both the Charity and the Group are not required by charity law to be audited and have chosen instead to have an independent examination. I report in respect of my examination of the consolidated accounts. I have carried out my examination under section 145 of the 2011 Act. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the consolidated accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement. Independent examiner’s statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that: 1. accounting records, with respect to the Charity, were not kept as required by section 130 of the 2011 Act and, with respect to its subsidiary, were not kept as required by section 386 of the Companies Act 2006; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Trevor Lane FCA 4 June 2019 Director, M N Jenks & Co Limited, Chartered Accountants 72 Commercial Road, Paddock Wood, Kent TN12 6DP

9 The Ralph Vaughan Williams Society Consolidated Statement of Financial Activities For the Year ended 31 March 2019

Unrestricted Restricted Funds Funds Total Total Income and Expenditure 2019 2019 2019 2018 £ £ £ £ Incoming resources Subscriptions 20,358 - 20,358 20,601 VWCT Grants - 6,000 6,000 10,000 Donations 540 25,096 25,636 15,623 Gift Aid recoveries 3,141 4,725 7,866 5,651 Legacy - - - 1,500 Miscellaneous sales 546 - 546 325 CD sales - 25,047 25,047 20,469 Income from events 686 - 686 - Interest received 539 - 539 22 Total incoming resources 25,810 60,868 86,678 74,191

Expenditure on charitable activities Events 1,770 - 1,770 - Meetings including net cost of AGM 1,059 - 1,059 1,670 Journal & publications 10,590 - 10,590 9,509 Binders and goods for sale 473 - 473 187 Grants (note 3) 3,925 - 3,925 2,080 Commisioning a score - - - 500 Leith Hill Place costs 1,005 6,282 7,287 480 CD and recording costs - 31,907 31,907 50,245 Stationery and postage 147 2,329 2,476 2,490 Depreciation - 333 333 333 Insurance 302 - 302 218 Advertising 516 - 516 484 Travel expenses 92 202 294 340 Bad debts - 400 400 - Sundry expenses including web costs 288 84 372 292 Credit card/bank charges 466 23 489 460 Total Expenditure 20,633 41,560 62,193 69,288

Net incoming (outgoing) resources 5,177 19,308 24,485 4,903

Funds brought forward 75,180 460 75,640 70,737 Funds carried forward £ 80,357 £ 19,768 £ 100,125 £ 75,640

10 The Ralph Vaughan Williams Society Balance Sheet at 31 March 2019

Consolidated The Ralph Vaughan with subsidiary Williams Society only

Note 2019 2018 2019 2018 £ £ £ £ FIXED ASSETS 4 998 1,331 - -

CURRENT ASSETS Stock and work in progress 5 7,421 11,587 150 250 Debtors 3,478 5,196 550 905 Gift Aid tax recoverable 7,840 4,770 7,840 4,770 VAT recoverable 713 - - - Balance due from subsidiary - - 10,677 9,698 Cash at bank 92,776 71,243 91,085 68,964

112,228 92,796 110,302 84,587

CURRENT LIABILITIES Commitments for grants 3 1,000 - 1,000 - VAT payable - 391 - - Sundry creditors and accruals 2,934 9,159 10 10 Deferred income 6 9,167 8,937 9,167 8,937

13,101 18,487 10,177 8,947

NET CURRENT ASSETS 99,127 74,309 100,125 75,640

NET ASSETS 100,125 75,640 100,125 75,640 representing: Unrestricted funds: General Fund 39,167 33,990 39,167 33,990 Legacy Fund 31,190 31,190 31,190 31,190 Contingency Fund 10,000 10,000 10,000 10,000 80,357 75,180 80,357 75,180 Restricted funds: Albion Fund 19,768 340 19,768 340 Leith Hill Place Fund - 120 - 120 TOTAL FUNDS 7 100,125 75,640 100,125 75,640

These accounts were approved by the trustees on 4 June 2019 and signed on their behalf by:

John Francis Treasurer 11 The Ralph Vaughan Williams Society Notes to the Accounts for the Year ended 31 March 2019

1 ACCOUNTING POLICIES

Basis of preparation and assessment of going concern The financial statements have been prepared in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2015) - (Charities SORP (FRS 102), and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in pounds sterling and rounded to the nearest pound.

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

The accounts consolidate the accounts of the charity with those of the subsidiary company, Albion Records. Intra-group transactions and balances are fully eliminated on consolidation.

Income recognition All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Membership income is accounted for on an accruals basis, so that it is amortised over the membership period to which it relates. Sales and costs of recordings and publications are accounted for on an accruals basis. It is not considered possible to quantify the value of donated services and facilities, or the value of services provided by volunteers, who mainly comprise trustees and officers of the charity.

Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.

Grants to other charities and amateur groups to assist with the cost of musical events are recognised when the Society makes an unconditional commitment to pay the contributions.

VAT The charity is not registered for VAT. Irrecoverable VAT is included in the related expenses. The subsidiary company, Albion Records, is registered for VAT.

12 The Ralph Vaughan Williams Society Notes to the Accounts for the Year ended 31 March 2019

Stock and work in progress Stock and work in progress are recorded at the lower of cost and net realisable value. Grants and donations received for recordings are deducted from the total cost. Recordings sell quickly when first released, but more slowly thereafter, so the remaining stocks of older recordings are written down to a nominal value. Recordings in progress are accounted for as work in progress at the lower of cost less grants received and the estimated recoverable value in the normal course of business.

Funds structure Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor. The Albion Fund deals with recordings, costs for which are supported by many donors. The Leith Hill Place Fund supports the Vaughan Williams exhibition within that building.

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.

2 EMPLOYEES AND TRUSTEES

There were no employees during the year ended 31 March 2019. None of the trustees received any remuneration during the year. 2019 2018 Four trustees were reimbursed expenses as follows: £ £ Storage facility - 1,997 Travelling expenses 295 472 Postage, recording costs and CD fulfilment 2,477 2,686 Other costs including meetings 143 157 2,915 5,312

The Society periodically asks members to support new recordings financially, and that support is gratefully received. Several of the trustees have contributed to recent appeals, but have asked that their individual contributions should not be published.

13 The Ralph Vaughan Williams Society Notes to the Accounts for the Year ended 31 March 2019

3 GRANTS 2019 2018 £ £ Grants paid in the year: Community Action - access to RVW performances - 80 English Music Festival 2018 - 1,500 English Music Festival Yorkshire Festival 2018 (2017) 250 500 Down Ampney Church: Vaughan Williams stained glass appeal 2,000 - London English Song Festival - Parry: Judith 675 -

Commitments outstanding at the year end: English Music Festival 2019 1,000 - 3,925 2,080

4 FIXED ASSETS Leasehold Property Held by Albion Records: £ Storage facility at cost 1,664 Depreciation charge (666) Net Book Value at 31 March 2019 998

5 STOCK AND WORK IN PROGRESS 2019 2018 £ £ Held by the Society: Stocks of binders 150 250 Held by the trading subsidiary, Albion Records: Stock of CDs for sale 923 7,952 Costs for new recordings in progress 6,348 3,385 7,271 11,337

Total stocks and work in progress 7,421 11,587

6 DEFERRED INCOME 2019 2018 Group and Society: £ £ Deferred membership income 9,167 8,937 9,167 8,937

14 The Ralph Vaughan Williams Society Notes to the Accounts for the Year ended 31 March 2019

7 FUNDS The trustees have set up two unrestricted designated funds to meet future expenditure, by transferring funds from the General Fund. The Legacy Fund is available to fund any project falling within the charity's objects. Such projects may include audio and video recordings. A sum has been set aside in a Contingency Fund, to be called upon only in an emergency.

The Albion Fund is a restricted fund, used primarily to support the charity's recording subsidiary, Albion Records. The Leith Hill Place Fund supports the Vaughan Williams exhibition at Leith Hill Place, the composer's childhood home. Net Incoming Brought (Outgoing) Carried forward resources forward £ £ £ Unrestricted funds: General Fund 33,990 5,177 39,167 Legacy Fund 31,190 - 31,190 Contingency Fund 10,000 - 10,000 Total Unrestricted Funds 75,180 5,177 80,357 Restricted funds: Albion Fund 340 19,428 19,768 Leith Hill Place Fund 120 (120) - Total funds 75,640 24,485 100,125

John Francis, Sir Andrew Davis and Simon Coombs

15