IRIS Accounts Production v24.3.0.553 Other Company accounts True false Pounds 1.1.23 31.12.23 31.12.23 FY The Lady Egremont FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh033285552022-12-31033285552023-12-31033285552023-01-012023-12-31033285552021-12-31033285552022-01-012022-12-31033285552022-12-3103328555ns0:CharitableCompanyLimitedByGuarantee2023-01-012023-12-3103328555ns15:PoundSterling2023-01-012023-12-3103328555ns0:Trustee12023-01-012023-12-3103328555ns11:FRS1022023-01-012023-12-3103328555ns11:IndependentExaminationCharity2023-01-012023-12-3103328555ns11:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103328555ns11:FullAccounts2023-01-012023-12-3103328555ns11:CharitiesSORP2023-01-012023-12-3103328555ns16:EnglandWales2023-01-012023-12-3103328555ns11:RegisteredOffice2023-01-012023-12-3103328555ns0:TotalUnrestrictedFunds2023-01-012023-12-3103328555ns0:TotalRestrictedIncomeFunds2023-01-012023-12-3103328555ns0:TotalEndowmentFunds2023-01-012023-12-3103328555ns0:Activity82023-01-012023-12-3103328555ns0:TotalUnrestrictedFundsns0:Activity82023-01-012023-12-3103328555ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-01-012023-12-3103328555ns0:TotalEndowmentFundsns0:Activity82023-01-012023-12-3103328555ns0:Activity82022-01-012022-12-3103328555ns0:TotalUnrestrictedFunds2022-12-3103328555ns0:TotalRestrictedIncomeFunds2022-12-3103328555ns0:TotalEndowmentFunds2022-12-3103328555ns0:TotalUnrestrictedFunds2023-12-3103328555ns0:TotalRestrictedIncomeFunds2023-12-3103328555ns0:TotalEndowmentFunds2023-12-3103328555ns0:TotalUnrestrictedFundsns10:WithinOneYear2023-12-3103328555ns10:WithinOneYearns0:TotalRestrictedIncomeFunds2023-12-3103328555ns0:TotalEndowmentFundsns10:WithinOneYear2023-12-3103328555ns10:WithinOneYear2023-12-3103328555ns10:WithinOneYear2022-12-310332855522023-01-012023-12-3103328555ns0:TotalUnrestrictedFunds2022-01-012022-12-3103328555ns0:TotalRestrictedIncomeFunds2022-01-012022-12-3103328555ns0:TotalEndowmentFunds2022-01-012022-12-3103328555ns0:TotalUnrestrictedFundsns0:Activity82022-01-012022-12-3103328555ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-01-012022-12-3103328555ns0:TotalEndowmentFundsns0:Activity82022-01-012022-12-3103328555ns10:ComputerEquipment2022-12-3103328555ns10:ComputerEquipment2023-12-3103328555ns10:ComputerEquipment2022-12-3103328555ns10:ListedExchangeTradedns10:CostValuation2022-12-3103328555ns10:DisposalsRepaymentsInvestmentsns10:ListedExchangeTraded2023-12-3103328555ns10:RevaluationsIncreaseDecreaseInInvestmentsns10:ListedExchangeTraded2023-12-3103328555ns10:ListedExchangeTradedns10:CostValuation2023-12-31
REGISTERED COMPANY NUMBER: 03328555 (England and Wales)
REGISTERED CHARITY NUMBER: 1061338














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

The Cobbe Collection Trust

The Cobbe Collection Trust






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 16

The Cobbe Collection Trust (Registered number: 03328555)

Report of the Trustees
for the Year Ended 31 December 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted 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 2019).

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.

Details of Trustees, Registered Office, Bankers, Independent Examiner, Company Registered Number and Charity Registered Number may be found on pages 3 and 4.

The Charity is a limited Company, limited by guarantee, and is governed by its Memorandum and Articles of Association. The Trustees confirm that they have had regard to the Charity Commission's public benefit guidance.

New trustees are selected to bring to the board such skills as the existing Trustees believe to be necessary for a balanced board. A programme of familiarisation with the workings of the Charity is being introduced.

The election or re-election of Trustees takes place at a meeting of the Board or by a resolution in writing signed by all the Trustees. At the meeting where such a resolution is presented, a majority of three quarters of the Trustees present and entitled to vote must pass the resolution for the new trustee to be appointed. Trustee meetings are held at least twice a year.

Third party indemnity insurance for the benefit of Trustees was in force during the year.

OBJECTIVES AND ACTIVITIES
Objectives and activities for the public benefit
The principal activity of the Charity in the year continued to be the promotion of public knowledge and appreciation of the art of keyboard music, and it is anticipated that this will continue for the foreseeable future. This has been done by acquiring keyboard instruments, "The Collection", and by educating the public and performers in the history, preservation, maintenance, renovation and performance of keyboard instruments, through the organising or facilitating of any performance which includes the playing of any keyboard instrument. This has also been done by promoting the maintenance and enhancement of buildings of architectural or historic interest and the contents thereof including the appropriate furniture, paintings and "The Collection" referred to above. The presentation of these assets and the education of the public in the history and performance of keyboard instruments are considered to be for the benefit of the public.

Achievements and performance
Review of the year's activities
The Collection continues to fulfil an important role in educating young musicians as well increasing numbers of members of the general public who attend tours of The Collection and premises at Hatchlands Park.

Financial review
Revenue generated by concerts and regular donations is not sufficient to cover the annual running costs of the Charity. The Trustees aim to supplement the established endowment fund when funds allow with the ultimate intention that this fund will produce unrestricted income to cover the annual running costs of the Charity in future years. Given the level of available cash reserves and short term investments as at 31 December 2023, the Trustees consider that the going concern basis of accounting continues to be appropriate. The Trustees continue to make efforts to secure new donors to further strengthen the financial position.


The Cobbe Collection Trust (Registered number: 03328555)

Report of the Trustees
for the Year Ended 31 December 2023

FINANCIAL REVIEW
Risk management
Trustees have identified and considered major risks to which the Charity is exposed, and have reviewed controls in place to minimise loss or damage from such risks.

The Charity will endeavour to keep in place appropriate security measures, fire protection, and policies of insurance. Use of the instruments, and the environment in which they are placed will reflect the need to safeguard their condition. A programme is operated of maintenance and restoration of instruments in the Collection. Policies of insurance are to be maintained to cover public liability, employer liability, and third party risks.

Trustees have charged the management team (artistic director, concert organiser, financial controller) with responsibility for day-to-day assessment and management of risk. A sub committee comprising at least one Trustee, and at least one member of the management team, will meet annually to review risk exposure and make suitable recommendations to the full board of Trustees.

Investment policy
Following Trustee's decision in October 2016, investments held in Sarasin's Alpa CIF Endowment fund were sold in February 2017 and placed under management by Elston Consulting, a company owned by Henry Cobbe. Investments have subsequently been made and continue to be held at Coutts & Co.

The Trustees consider investment performance and risk profile at least biannually and, on the basis of this and external advice where appropriate, would seek to rebalance the portfolio should it no longer meet their investment objectives.

Reserves policy
This policy, together with the investment policy, has continued to be supported by the Trustees.

The goals for reserves can be outlined thus:

1To fund operational expenditure should other sources of revenue temporarily be suspended by holding
unrestricted reserves equivalent to approximately six month's operational expenditure, excluding concert
related expenditure and the effect of any income not yet due but which is required to be included in the
accounts in accordance with accounting standards. One year's operational expenditure is currently
expected to be in the region of £130,000.
2To provide immediate access to funding should opportunities arise for additional items for the Collection
that are not immediately funded by third parties.
3In the absence of (1) or (2), to act as a multi-year endowment to provide recurring income to support the
Charity in perpetuity.

PLANS FOR FUTURE PERIODS
The Charity aims:
1. To maintain, conserve and develop the existing Collection;
2. To give live concerts and make recordings of our unique historic and composer owned collection;
3. To encourage scholarship studies and young musicians to experience playing historic instruments and to access our archives and documents to further their studies.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03328555 (England and Wales)

Registered Charity number
1061338


The Cobbe Collection Trust (Registered number: 03328555)

Report of the Trustees
for the Year Ended 31 December 2023

Registered office
Hatchlands Park
Hatchlands
East Clandon
Surrey
GU4 7RT

Trustees
The Lady Egremont (Chairman)
Geoff Richards
Sir Hugh Roberts GCVO FSA
David Campbell

Independent Examiner
Harlands Accountants (Newquay) Limited
35 High Cross Street
St Austell
Cornwall
PL25 4AN

Bankers
Coutts & Co
440 Strand
London
WC2R 0QS

Approved by order of the board of trustees on 12 November 2024 and signed on its behalf by:





The Lady Egremont - Trustee

Independent Examiner's Report to the Trustees of
The Cobbe Collection Trust

Independent examiner's report to the trustees of The Cobbe Collection Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('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.

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:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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 have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Deborah Edwards BA (Hons) FCA

Harlands Accountants (Newquay) Limited
35 High Cross Street
St Austell
Cornwall
PL25 4AN

12 November 2024

The Cobbe Collection Trust

Statement of Financial Activities
for the Year Ended 31 December 2023

31.12.23 31.12.22
Unrestricted Restricted Endowment Total Total
fund funds fund funds funds
Notes £    £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 42,096 - - 42,096 136,678

Investment income 3 - - 18,813 18,813 38,514
Total 42,096 - 18,813 60,909 175,192

EXPENDITURE ON
Raising funds 4,654 - - 4,654 -

Charitable activities
Charitable 130,840 - 807 131,647 188,858
Total 135,494 - 807 136,301 188,858

Net gains on investments - - 8,346 8,346 -

NET INCOME/(EXPENDITURE) (93,398 ) - 26,352 (67,046 ) (13,666 )
Transfers between funds 12 73,566 - (73,566 ) - -
Net movement in funds (19,832 ) - (47,214 ) (67,046 ) (13,666 )

RECONCILIATION OF FUNDS
Total funds brought forward 104,228 1,548,655 488,586 2,141,469 2,155,135

TOTAL FUNDS CARRIED
FORWARD

84,396

1,548,655

441,372

2,074,423

2,141,469

The Cobbe Collection Trust (Registered number: 03328555)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Unrestricted Restricted Endowment Total Total
fund funds fund funds funds
Notes £    £    £    £    £   
FIXED ASSETS
Heritage assets 8 73,707 1,548,655 - 1,622,362 1,624,510
Investments 9 - - 441,372 441,372 488,586
73,707 1,548,655 441,372 2,063,734 2,113,096

CURRENT ASSETS
Debtors 10 12,585 - - 12,585 3,150
Cash at bank and in hand 20,866 - - 20,866 66,534
33,451 - - 33,451 69,684

CREDITORS
Amounts falling due within one
year

11

(22,762

)

-

-

(22,762

)

(41,311

)

NET CURRENT ASSETS 10,689 - - 10,689 28,373

TOTAL ASSETS LESS CURRENT
LIABILITIES

84,396

1,548,655

441,372

2,074,423

2,141,469

NET ASSETS 84,396 1,548,655 441,372 2,074,423 2,141,469
FUNDS 12
Unrestricted funds 84,396 104,228
Restricted funds 1,548,655 1,548,655
Endowment funds 441,372 488,586
TOTAL FUNDS 2,074,423 2,141,469

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


The Cobbe Collection Trust (Registered number: 03328555)

Balance Sheet - continued
31 December 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 12 November 2024 and were signed on its behalf by:





The Lady Egremont - Trustee

The Cobbe Collection Trust

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. GENERAL INFORMATION

The Charity is a Limited Company, limited by guarantee with company number 3328555, the registered office is Hatchlands Park, Hatchlands, West Clandon, Surrey, GU4 7RT.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Revenue generated by concerts and regular donations is not sufficient to cover the annual running costs of the Charity. The Trustees aim to supplement the established endowment fund when funds allow with the ultimate intention that this fund will produce unrestricted income to cover the annual running costs of the Charity in future years. Given the level of available cash reserves and short term investments as at 31 December 2018, the Trustees consider that the going concern basis of accounting continues to be appropriate. The Trustees continue to make efforts to secure new donors to further strengthen the financial position.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation of governance costs
Governance costs comprise the costs of preparing the accounts and independent examination are all allocated to charitable activities.

Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Realised gains and losses
All gains and losses are taken to the Statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Tangible fixed assets
Expenditure on fixed assets in excess of £300 is capitalised at original cost.

Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life.

Office equipment - 25% straight line

The Cobbe Collection Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Composer prints and furnishings - 2% straight line

Keyboards are not depreciated because it is the policy of the Charity to maintain them to a high standard and any depreciation would not be material.

The keyboards, composer prints and furnishings held by the Charity are classified as heritage assets under SORP 2005. These assets are held in the furtherance of the charitable objective of the development, promotion and maintenance of its keyboard collection.

Keyboard instruments, classified as heritage assets, purchased by or donated to the Charity are capitalised at a valuation. Other heritage assets, purchased by the Charity are capitalised at their historical cost to the Charity. Other heritage assets donated to the Charity are not recognised in the financial statements in accordance with the policy for donated assets as set out below.

Heritage assets are depreciated in accordance with the depreciation policy set out above.

Donated instruments
Various keyboards have been gifted by Alec Cobbe, the Iliffe Family Trust and Dr Vernon Harrison. Donated keyboard instruments are included in the financial statements at a valuation as a reliable valuation is available. However, any other assets have not been capitalised in the financial statements since they are unique and any valuation would not be reliable.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investments
Investments are stated at market value at the balance sheet date. The SOFA includes gains and losses arising on disposal and on revaluations.

3. INVESTMENT INCOME
31.12.23 31.12.22
£    £   
Investment income 18,813 38,514


The Cobbe Collection Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.


5. STAFF COSTS

2023 2022
Gross salaries (inc redundancy) 8,654 8,560
8,654 8,560

The average monthly number of employees during the year was as follows:

31.12.23 31.12.22
Management and administration 3 2

No employees received emoluments in excess of £60,000.

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Endowment Total
fund funds fund funds
£    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 136,678 - - 136,678

Investment income (1 ) - 38,515 38,514
Total 136,677 - 38,515 175,192

EXPENDITURE ON
Charitable activities
Charitable 112,710 - 76,148 188,858

NET INCOME/(EXPENDITURE) 23,967 - (37,633 ) (13,666 )
Transfers between funds 30,000 - (30,000 ) -
Net movement in funds 53,967 - (67,633 ) (13,666 )

RECONCILIATION OF FUNDS
Total funds brought forward 50,261 1,548,655 556,219 2,155,135

TOTAL FUNDS CARRIED FORWARD 104,228 1,548,655 488,586 2,141,469

The Cobbe Collection Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 and 31 December 2023 17,100
DEPRECIATION
At 1 January 2023 and 31 December 2023 17,100
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

8. HERITAGE ASSETS
Total
£   
MARKET VALUE
At 1 January 2023 and 31 December 2023 1,672,585
PROVISIONS
At 1 January 2023 48,075
Charge for year 2,148
At 31 December 2023 50,223
NET BOOK VALUE
At 31 December 2023 1,622,362
At 31 December 2022 1,624,510

The historical cost of the heritage assets above excluding donated assets was £397,116 (2022: £397,116).

The Charity's heritage assets comprise keyboards, composer prints and furnishings which are located at Hatchlands Park. All such assets are considered to be heritage assets.

Of the thirty instruments held by the Charity, six were purchased by the Charity. These are included in the financial statements at a valuation. During 1998 a substantial collection of keyboards was donated by Alec Cobbe and a 1623 English Harpsichord was donated by the Iliffe Family Trust. During 1999 a Ducci Piano was donated by the late Vernon Harrison. During 2001 a Grand Piano by Bechstein used by Liszt in concert, was bequeathed by the late Dr. Vernon Harrison. Donated keyboard instruments are included in the financial statements at a valuation. Also during 2001, a chair owned by Liszt was donated by Mrs Katrinka Wilder. No value has been placed on this item due to its historic nature.

The Trustees' policy is to retain, manage and preserve these heritage assets for the benefit of the public and future generations. The Trustees would consider the purchase of further heritage assets should suitable pieces become available and if adequate funding were in place.

The Trustees' policy is to dispose of a heritage asset only if the asset were no longer considered to be an integral part of the Collection, where a suitable buyer had been identified and an appropriate price achieved. No immediate disposals of heritage assets are envisaged.

Comprehensive records are maintained of the heritage assets. Registers are maintained for administrative purposes and guides to the Collection are produced for public information.


The Cobbe Collection Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. HERITAGE ASSETS - continued

The Trustees have an active maintenance and restoration programme for the heritage assets. The use of the instruments and the environment in which they are placed will inform the need to safeguard their condition and public accessibility to the Collection.

The public has access to the keyboard collection, composer prints and furnishings. The Collection is available to view as part of the National Trust tour of Hatchlands Park or by attendance at one of the series of concerts and talks organised by the Charity. These performances may include the playing of any keyboard instrument from the Collection.

Attendance at the concerts is constrained by the capacity of the music room but the Trustees strive to ensure that the number of visitors is maximised.

It is not practicable to provide a heritage asset summary for periods earlier than 31 December 2010. No assets were purchased or acquired by donation in the period 2011 to 2014. In the period 2015 to 2017 inclusive, the Charity purchased 9 keyboards with a total investment cost of £109,500 and in 2018, the year under review, a further 3 pieces - Clavecin Royal, Kirkman Harpsichord and Weber piano - for the sum of £43,400.

One asset was disposed of in 2010. The asset had a net book value of £7,292 and the disposal generated a loss of £3,292.

The values at which heritage assets have been included in the financial statements are based on a valuation report prepared by Sotheby's Valuation Department for insurance purposes in January 2007. The valuations have not been updated since this date as they have been reviewed by the Trustees and are considered to be a fair representation of the current value of the instruments in the Collection.

9. FIXED ASSET INVESTMENTS
Listed
investments
£   
MARKET VALUE
At 1 January 2023 488,586
Disposals (55,560 )
Revaluations 8,346
At 31 December 2023 441,372
NET BOOK VALUE
At 31 December 2023 441,372
At 31 December 2022 488,586

There were no investment assets outside the UK.

Cost or valuation at 31 December 2023 is represented by:

Listed
investments
£   
Valuation in 2023 441,372

The Cobbe Collection Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. FIXED ASSET INVESTMENTS - continued


31.12.23 31.12.22
£    £   

Coutts & Co 441,372 488,586

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
VAT 10,966 1,556
Prepayments and accrued income 1,619 1,594
12,585 3,150

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 13,842 5,031
Accruals and deferred income 8,920 36,280
22,762 41,311

12. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.1.23 in funds funds 31.12.23
£    £    £    £   
Unrestricted funds
General fund 104,228 (93,398 ) 73,566 84,396

Restricted funds
Broadwood trust fund 25,000 - - 25,000
Alec Cobbe trust fund 236,355 - - 236,355
Donated instruments fund 1,287,300 - - 1,287,300
1,548,655 - - 1,548,655
Endowment funds
Endowment Fund 488,586 26,352 (73,566 ) 441,372

TOTAL FUNDS 2,141,469 (67,046 ) - 2,074,423

The Cobbe Collection Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 42,096 (135,494 ) - (93,398 )

Endowment funds
Endowment Fund 18,813 (807 ) 8,346 26,352

TOTAL FUNDS 60,909 (136,301 ) 8,346 (67,046 )


Comparatives for movement in funds

Net Transfers
movement between At
At 1.1.22 in funds funds 31.12.22
£    £    £    £   
Unrestricted funds
General fund 50,261 23,967 30,000 104,228

Restricted funds
Broadwood trust fund 25,000 - - 25,000
Alec Cobbe trust fund 236,355 - - 236,355
Donated instruments fund 1,287,300 - - 1,287,300
1,548,655 - - 1,548,655
Endowment funds
Endowment Fund 556,219 (37,633 ) (30,000 ) 488,586

TOTAL FUNDS 2,155,135 (13,666 ) - 2,141,469

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 136,677 (112,710 ) 23,967

Endowment funds
Endowment Fund 38,515 (76,148 ) (37,633 )

TOTAL FUNDS 175,192 (188,858 ) (13,666 )

The Cobbe Collection Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1.1.22 in funds funds 31.12.23
£    £    £    £   
Unrestricted funds
General fund 50,261 (69,431 ) 103,566 84,396

Restricted funds
Broadwood trust fund 25,000 - - 25,000
Alec Cobbe trust fund 236,355 - - 236,355
Donated instruments fund 1,287,300 - - 1,287,300
1,548,655 - - 1,548,655
Endowment funds
Endowment Fund 556,219 (11,281 ) (103,566 ) 441,372

TOTAL FUNDS 2,155,135 (80,712 ) - 2,074,423

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 178,773 (248,204 ) - (69,431 )

Endowment funds
Endowment Fund 57,328 (76,955 ) 8,346 (11,281 )

TOTAL FUNDS 236,101 (325,159 ) 8,346 (80,712 )

The Cobbe Collection Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. MOVEMENT IN FUNDS - continued


Endowment Fund: The expendable endowment fund was created in order to ensure the long
term future of the Charity. The intention is that once the fund is at the
planned level of £4,000,000 the investment income generated will be
sufficient to cover annual expenditure without reliance on donated
income.

Broadwood Trust: The Broadwood Trust represents funds received for the acquisition of a
Grand Pianoforte by John Broadwood & Sons, London 1816.

Alec Cobbe Fund: The Alec Cobbe Fund represents money donated to the Charity by Alec
Cobbe, but does not reflect the value of instruments which he donated.




The fund was established to give the Trustees an enabling fund for such
improvements to the Collection, but with particular regard to its setting, as
might not be considered to be a main call on the income provided by
Donald Kahn for running the Collection.

Adopt an Instrument Fund: The Adopt an Instrument Fund was set up in 2011 for the purpose of funding
maintenance expenditure for individual instruments. Any balance
remaining represents unspent restricted donations received for this
purpose.

Monument Trust Fund: The Monument Trust Fund represents funds received as a contribution to the
costs of employing the concert manager.

Donated Instrument Fund: The Donated Instruments Fund represents the value of keyboard instruments
donated to the Charity between 1998 and 2001 by Alec Cobbe, the Iliffe
Family Trust and Dr Vernon Harrison.

13. RELATED PARTY DISCLOSURES

During the year, the trust paid £48,000 (2022: £44,900) to A Cobbe for consultancy services rendered; Mr Cobbe is a member of the founding family that created the Cobbe Collection of musical instruments and pieces of art.