THE PERFORMING RIGHT SOCIETY FOUNDATION

Charity number: 1080837
Charity reporting is up to date (on time)

Charity overview

Activities - how the charity spends its money

PRS Foundation is the UK's leading charitable funder of new music and talent development. Since 2000 it has given more than £50 million to over 9,000 new music initiatives by awarding grants and leading partnership programmes. PRS Foundation supports an exceptional range of new music activity, from showcases and commissions to a network of talent development partners www.prsfoundation.com

Income and expenditure

Data for financial year ending 31 December 2023

Total income:
£4,150,166

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Donations and legacies £3.68m
Charitable activities £227.23k
Other trading activities £238.29k
Investments £0
Other £0

Total expenditure:
£4,206,679

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Raising funds £112.44k
Charitable activities £4.09m
Other £0

£0 investments gains (losses)

Total income includes £357,024 from 21 government grant(s)

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 £112.44k
Charitable expenditure £4.09m

People

11 Employee(s)

15 Trustee(s)

Employees with total benefits over £60,000

Number of employees
£70k to £80k 1

Fundraising

No information available

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:
  • Arts/culture/heritage/science
Who the charity helps:
  • Other Charities Or Voluntary Bodies
  • The General Public/mankind
How the charity helps:
  • Makes Grants To Individuals
  • Makes Grants To Organisations
  • Provides Advocacy/advice/information
  • Other Charitable Activities
Where the charity operates:
  • Throughout England And Wales
  • Ireland
  • Northern Ireland
  • Scotland

Governance

Registration history:
  • 23 May 2000: Standard registration
Organisation type:
Charitable company
Other names:
  • PRS FOR MUSIC FOUNDATION (Working name)
  • PRSF (Working name)
Company number:
03901665 Open in new window
Gift aid:
Recognised by HMRC for gift aid
Other regulators:
No information available
Policies:
  • Bullying and harassment policy and procedures
  • Complaints handling
  • Conflicting interests
  • Financial reserves policy and procedures
  • Internal risk management policy and procedures
  • Risk management
  • Safeguarding policy and procedures
  • Social media policy and procedures
  • Trustee conflicts of interest policy and procedures
Land and property:
This charity does not own and/or lease land or property

Trustees

Trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair, board member etc. The trustees are responsible for keeping this list up to date and can do this by updating their details as they happen through the online service

15 Trustee(s)

Name Role Date of appointment Other trusteeships Reporting status of other trusteeships
Jane Mary Dyball Trustee 23 April 2025
ATTITUDE IS EVERYTHING
Received: On time
SUFFOLK ARTLINK
Received: On time
Brahim Ait Ben Larbi Trustee 03 December 2024
None on record
Jonathan Jackson Trustee 03 December 2024
None on record
Grace Goodwin Trustee 23 September 2024
None on record
Suzanne Hughes Trustee 29 February 2024
None on record
John Berchmans Minch Trustee 29 February 2024
None on record
Alexander Kassner Trustee 29 February 2024
None on record
Jonathan Aitken Trustee 29 February 2024
None on record
Crispin Macmichael Sandys Hunt Trustee 29 February 2024
None on record
YolanDa Brown Trustee 05 July 2022
None on record
Christine Geissmar Trustee 18 February 2020
None on record
Michelle Escoffery Trustee 12 December 2019
None on record
Susannah Catherine Simons Trustee 23 February 2018
THE LONDON INTERNATIONAL FESTIVAL OF EARLY MUSIC CIO
Received: On time
Chris Butler Trustee 13 July 2017
None on record
CAROLINE NORBURY Trustee 28 June 2016
None on record

Financial history

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Financial period end date

Income / Expenditure 31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
Total gross income £4.12m £3.91m £4.18m £4.01m £4.15m
Total expenditure £4.31m £3.88m £4.06m £4.19m £4.21m
Income from government contracts N/A N/A N/A N/A N/A
Income from government grants £85.00k £16.50k £55.50k £62.46k £357.02k
Income - Donations and legacies £4.01m £3.75m £3.86m £3.79m £3.68m
Income - Other trading activities £88.00k £153.10k £321.00k £214.35k £238.29k
Income - Charitable activities £0 £0 £0 £0 £227.23k
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £18.98k £5.12k £0 £0 £0
Income - Other £0 £0 £0 £0 £0
Income - Legacies £0 £0 £0 £0 £0
Expenditure - Charitable activities £4.21m £3.80m £3.98m £4.11m £4.09m
Expenditure - Raising funds £92.97k £83.88k £71.70k £85.03k £112.44k
Expenditure - Governance £16.14k £13.84k £12.31k £21.30k £14.55k
Expenditure - Grants institution £2.31m £1.96m £1.93m £1.82m £1.76m
Expenditure - Investment management £0 £0 £0 £0 £0
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 31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
Own use assets £2.60k £1.70k £794 £0 £885
Long-term investments £0 £0 £0 £0 £0
Other assets £3.40m £4.27m £4.35m £4.37m £3.70m
Defined benefit pension scheme asset or liability £0 £0 £0 £0 £0
Total liabilities £2.34m £3.18m £3.13m £3.34m £2.99m

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 2023 24 October 2024 On Time
Accounts and TAR 31 December 2023 24 October 2024 On Time Download Open in new window
Annual return 31 December 2022 25 October 2023 On Time
Accounts and TAR 31 December 2022 25 October 2023 On Time Download Open in new window
Annual return 31 December 2021 25 October 2022 On Time
Accounts and TAR 31 December 2021 25 October 2022 On Time Download Open in new window
Annual return 31 December 2020 03 November 2021 3 days late
Accounts and TAR 31 December 2020 03 November 2021 3 days late Download Open in new window
Annual return 31 December 2019 19 August 2020 On Time
Accounts and TAR 31 December 2019 19 August 2020 On Time Download Open in new window
Submit annual return Open in new window

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.

MEMORANDUM AND ARTICLES OF ASSOCIATION INCORPORATED 4TH JANUARY 2000, AS AMENDED BY SPECIAL RESOLUTION DATED 2ND MAY 2000, 10TH APRIL 2002, 12 JUNE 2007 AND 9 FEBRUARY 2010. AS AMENDED BY SPECIAL RESOLUTION(S) DATED 26 APR 2016

Charitable objects

THE ADVANCEMENT OF THE EDUCATION OF THE PUBLIC IN MUSIC AND THE APPRECIATION OF MUSIC BY SUCH MEANS AS THE TRUSTEES DECIDE INCLUDING:- (1) THE PROVISION OF FINANCIAL ASSISTANCE TO COMPOSERS AND SONGWRITERS, PARTICULARLY THOSE RESIDENT IN THE UNITED KINGDOM WITH A VIEW TO ENCOURAGING THE COMPOSITION AND PERFORMANCE OF NEW MUSIC OF HIGH QUALITY (2) THE FURTHERANCE OF EDUCATION AND TRAINING FOR PRACTITIONER OF MUSIC BY THE PROVISION OF GRANTS AND DONATIONS TO INDIVIDUALS AND EDUCATIONAL ESTABLISHMENTS BY ESTABLISHING EDUCATIONAL AWARDS AND SCHOLARSHIPS AND BY THE PROVISION OF EQUIPMENT AND FACILITIES (INCLUDING THE PROVISION OF MUSICAL INSTRUMENTS) (3) THE PROMOTION OF PUBLIC PERFORMANCE OF HIGH QUALITY BY THE HOLDING OF CONCERTS RECITALS FESTIVALS EXHIBITIONS COMPETITIONS MEETINGS LECTURES SEMINARS AND TRAINING COURSES AND ANY OTHER EVENT/PROJECT/ASSIGNMENT CONDUCIVE TO THE ATTAINMENT OF THE OBJECTS.

Area of benefit

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

NOT DEFINED

Contact information

Address:
Tea Auction House (1st floor)
Hays Galleria
Counter Street
London
SE1 2HD
Phone:
02037414233
Email:
info@prsfoundation.com
Website:

www.prsfoundation.com Open in new window