PRS Members' Fund

Charity number: 208671
Removed charity

Charity overview

Activities - how the charity spends its money

Providing financial support to members and their families

Income and expenditure

Data for financial year ending 31 December 2018

Total income:
£816,000

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Donations and legacies £450.00k
Charitable activities £0
Other trading activities £0
Investments £366.00k
Other £0

Total expenditure:
£835,000

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Raising funds £163.00k
Charitable activities £672.00k
Other £0

£0 investments gains (losses)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

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Raising funds and other expenditure £163.00k
Charitable expenditure £672.00k

Fundraising

This charity does not raise funds from the public

Trading

This charity does not have any trading subsidiaries.

Trustee payments

No trustees receive any remuneration, payments or benefits from the charity.

What, who, how, where

Main way of carrying out purposes is grant making
What the charity does:
  • The Prevention Or Relief Of Poverty
Who the charity helps:
  • Children/young People
  • Elderly/old People
  • People With Disabilities
How the charity helps:
  • Makes Grants To Individuals
  • Provides Services
Where the charity operates:
  • Throughout England And Wales
  • Barbados
  • Cyprus
  • Jamaica
  • Malta
  • Scotland
  • South Africa
  • Sri Lanka
  • St Lucia
  • The Bahamas
  • United States

Governance

Registration history:
  • 22 September 1962: Standard registration
  • 28 July 1993: Removed
Organisation type:
Trust
Other names:
  • PRS MEMBERS FUND (Working name)
  • P R S MEMBERS FUND (Previous name)
  • THE PRS FOR MUSIC MEMBERS' BENEVOLENT FUND (Previous name)
Gift aid:
Recognised by HMRC for gift aid
Other regulators:
No information available
Policies:
  • Complaints handling
  • Conflicting interests
  • Investment
  • Paying staff
  • Risk management
  • Safeguarding vulnerable beneficiaries
  • Volunteer management
Land and property:
This charity owns and/or leases land or property

Financial history

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Financial period end date

Income / Expenditure 31/12/2014 31/12/2015 31/12/2016 31/12/2017 31/12/2018
Total gross income £1.29m £931.00k £821.00k £1.05m £816.00k
Total expenditure £746.00k £742.00k £707.00k £797.00k £835.00k
Income from government contracts N/A £0 £0 £0 N/A
Income from government grants N/A £0 £0 £0 N/A
Income - Donations and legacies £1.03m £632.00k £534.00k £727.00k £450.00k
Income - Other trading activities £0 £0 £0 £0 £0
Income - Charitable activities £0 £0 £0 £0 £0
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £262.00k £299.00k £287.00k £318.00k £366.00k
Income - Other £0 £0 £0 £0 £0
Income - Legacies £724.00k £179.00k £213.00k £0 £57.00k
Expenditure - Charitable activities £554.00k £510.00k £562.00k £640.00k £672.00k
Expenditure - Raising funds N/A N/A £145.00k £157.00k £163.00k
Expenditure - Governance £60.00k £78.00k £90.00k £29.10k £33.00k
Expenditure - Grants institution £0 £0 £0 £0 £452.00k
Expenditure - Investment management £50.00k £54.00k £57.00k £65.00k £67.00k
Expenditure - Other £0 £0 £0 £0 £0

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 31/12/2014 31/12/2015 31/12/2016 31/12/2017 31/12/2018
Own use assets £566.00k £612.00k £0 £190.00k £246.00k
Long-term investments £9.61m £10.57m £12.33m £13.62m £12.82m
Other assets £1.10m £562.00k £815.00k £649.00k £324.00k
Defined benefit pension scheme asset or liability £0 £0 £0 £0 £0
Total liabilities £139.00k £122.00k £141.00k £161.00k £147.00k

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 December 2019 Not submitted
Accounts and TAR 31 December 2019 Not submitted
Annual return 31 December 2018 13 November 2019 13 days late
Accounts and TAR 31 December 2018 13 November 2019 13 days late
Annual return 31 December 2017 06 July 2018 On Time
Accounts and TAR 31 December 2017 06 July 2018 On Time
Annual return 31 December 2016 12 September 2017 On Time
Accounts and TAR 31 December 2016 12 September 2017 On Time

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

TRUST DEED DATED 19 MARCH 1934 AS AMENDED BY REGULATIONS ADOPTED 30 MAY 1977 AND 29 OCTOBER 1981 AND 19 JULY 2001 AND 20 MAY 2009. 18/12/2014 as amended on 04 Jul 2018

Charitable objects

TO PAY PENSIONS, MAKE GRANTS OR LOANS OR TO OTHERWISE ASSIST MEMBERS OR EX-MEMBERS OF THE SOCIETY AND THE WIDOWS AND OTHER DEPENDENTS OF DECEASED MEMBERS OF THE SOCIETY WHO MAY FOR THE TIME BEING BE IN STRAITENED CIRCUMSTANCES.

Area of benefit

The area the charity can operate in, as set out in its governing document.

NOT DEFINED

Linked charities

Linked charities
Linked charity 208671-1 PERCY FLETCHER MEMORIAL FUND
Governing document
WILL DATED 22 AUGUST 1938
Charitable objects
FUND TO BE USED TO HELP DISTRESSED OR NEEDY MUSICIANS OR THEIR FAMILIES
Area of benefit
NOT DEFINED
Registration history
  • 22 September 1962 : Standard registration
  • 28 July 1993 : Removed