GLYNDEBOURNE ARTS TRUST

Charity number: 208743
Removed charity

Charity overview

Activities - how the charity spends its money

To ensure the future of the production of opera by Glyndebourne Productions Ltd (GPL) by the establishment and administration of an endowment sufficient to maintain and improve GPL's amenities, to contribute towards the reduction of any annual deficit and to extend the work of GPL generally.

Income and expenditure

Data for financial year ending 31 December 2014

Total income:
£4,635,916

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Donations and legacies £1.68m
Charitable activities £2.87m
Other trading activities £0
Investments £81.22k
Other £0

Total expenditure:
£17,144,958

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Raising funds £0
Charitable activities £4.03m
Other £13.02m

£774,336 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 £13.12m
Charitable expenditure £4.03m

Fundraising

This charity raises funds from the public but does not work with commercial participators.

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
How the charity helps:
  • Makes Grants To Organisations
  • Provides Other Finance
Where the charity operates:
  • Throughout England And Wales

Governance

Registration history:
  • 22 September 1962: Standard registration
  • 12 July 2016: Removed (Ceased to exist)
  • 12 July 2016: Funds transferred to 243877 GLYNDEBOURNE PRODUCTIONS LIMITED
Organisation type:
Charitable company
Other names:

No other names

Gift aid:
No information available
Other regulators:
No information available
Policies:
No policies declared
Land and property:
No information available

Financial history

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Financial period end date

Income / Expenditure 31/12/2010 31/12/2011 31/12/2012 31/12/2013 31/12/2014
Total gross income £6.03m £4.34m £4.32m £4.04m £4.64m
Total expenditure £3.27m £3.96m £4.31m £4.50m £17.14m
Income from government contracts N/A N/A N/A N/A N/A
Income from government grants N/A N/A N/A N/A N/A
Income - Donations and legacies £3.39m £1.47m £1.48m £1.23m £1.68m
Income - Other trading activities £0 £0 £0 £0 £0
Income - Charitable activities £2.51m £2.64m £2.68m £2.72m £2.87m
Income - Endowments £0 £193.82k £0 £0 £0
Income - Investment £129.69k £226.37k £155.78k £101.12k £81.22k
Income - Other £0 £0 £0 £0 £0
Income - Legacies £646.08k £1.27m £267.24k £221.16k £193.05k
Expenditure - Charitable activities £3.22m £3.88m £4.22m £4.42m £4.03m
Expenditure - Raising funds N/A N/A N/A N/A N/A
Expenditure - Governance £8.05k £8.86k £9.04k £7.49k £7.79k
Expenditure - Grants institution £0 £0 £0 £0 £0
Expenditure - Investment management £40.01k £68.47k £76.44k £71.70k £87.00k
Expenditure - Other £0 £0 £0 £0 £13.02m

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 31/12/2010 31/12/2011 31/12/2012 31/12/2013 31/12/2014
Own use assets £0 £0 £0 £0 £0
Long-term investments £8.67m £9.91m £10.15m £10.40m £0
Other assets £4.88m £3.48m £3.69m £3.96m £0
Defined benefit pension scheme asset or liability £0 £0 £0 £0 £0
Total liabilities £2.35m £2.21m £2.35m £2.62m £0

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 2015 Not submitted
Accounts and TAR 31 December 2015 Not submitted
Annual return 31 December 2014 02 October 2015 On Time
Accounts and TAR 31 December 2014 02 October 2015 On Time
Annual return 31 December 2013 10 October 2014 On Time
Accounts and TAR 31 December 2013 10 October 2014 On Time
Annual return 31 December 2012 28 October 2013 On Time
Accounts and TAR 31 December 2012 28 October 2013 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.

MEMORANDUM AND ARTICLES OF ASSOCIATION INCORPORATED 16 DECEMBER 1939. AND 21 APRIL 1999

Charitable objects

THE PROMOTION AND ADVANCEMENT OF AESTHETIC EDUCATION AND THE CULTIVATION AND IMPROVEMENT OF PUBLIC TASTE IN MUSIC, OPERA OR THE OTHER ARTS.

Area of benefit

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

NATIONAL