REGISTERED CHARITY NUMBER: 1028304 Report of the Trustees and Unaudlted Flnanclal Ststements for the Year Ended 31st August 2024 for London Symphony Chorus Endowment Fund
London Symphony Chorus Endowment Fund Contents of the Flnanclal Statements for the Year Ended 31st August 2024 Page Report of the Trustees Ito5 Independent Exarnlner's Report 6t07 Statement of Flnanclal Activities Balance Sheet Notes to the Financial Statements IOto21 Detailed Statement of Flnancial Activities 22
London Symphony Chorus Endowment Fund Report of the Trustees for the Year Ended 31st August 2024 The Trustees present their report with the financial statements of the Charity forthe year ended 31st August 2024. 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 Flnanclal Reporting Standard applicable in the UK and the Republic of Ireland IFRS 1021. As the London Symphony Chorus Endowment Fund's gross income does not exceed £250,000 and the value of its assets is less than £3.26 million, the Trustees have decided that the financial statements should be subject to independent examination Iratherthan audit), which is permitted by the London Symphony Chorus Endowment Fund's Trust Deed and the relevant legal requirements and Charity Commission guidance. MEETINGS OF THE TRUSTEES During the flnanclal year 202312024 the Trustees held four formal meetings and took other decisions by unanimous wrltten resolutions. In addition, there were many informal exchan8es and discussions involvin8 the Trustees and the Treasurer and numerous email exchanges: these covered the full range of the London Symphony Chorus Endowment Fund's activities. TRUSTEES Following on from his announcement that he would stand down as Chairman and as a Trustee, Peter Sedgwick stood down as Chair of the Trustees on 27 November 2023, at which point Vanessa Knapp was appointed to the position. To enable a smooth handover, Peter continued to act as a trustee until 22 April 2024. Rachel Wilson resigned as a trustee on 28 February 2024 and Alice Jones ceased to be a trustee on 25 April 2024. The Trustees wish to record their thanks to Rachel, Alice and Peter for their contributions as trustees and, in particular, to Peter for his work as Chair since the Charity was established. The Council of the London Symphony Chorus has the sole right to appolnt trustees to the London Symphony Chorus Endowment Fund. All the changes to the Trustees are shown on page 5. OBJEcfivES AND ACTIVITIES Alms and oafertlves The objective of the Charity is the furtherance of the objectives of the London Symphony Chorus {LSC}, the public benefit of which is the study and practice of choral music aimed at fostering public knowledge and appreciation of such music through public performance. Within the limits set by Income and the Fund's Investments, and in conformity with the London Symphony Chorus Endowment Fund's Trust Deed, the Trustees stand ready to support the London Symphony Chorus in consultation with the Council of the London Symphony Chorus. The Trustees make grantsto the Lscfollowing requests from the LSC Council. The Trustees have had due regard to the guidance issued by the Charity Commission on public benefit when considering the funding requests made by the Council of the London Symphony Chorus. The assets of the London Symphony Chorus Endowment Fund are in two separate funds - the original Endowment Fund and the General Trust Fund. Within these financial statements, the Generol Trust Fund is included within Unrestricted Funds.
London Symphony Chorus Endowment Fund Report of the Trustees ft)r the Year Ended 31st August 2024 Wlthin the original Endowment Fund there are restrictions on the use of capital (which is not available for current expenditure except in extraordinary circumstances and subject to a unanimous decision of the Trustees); the General Trust Fund does not have a re5trirtion on capital use. Charitable actlvltles During the financial years affected by the COVID pandemic the Charity provided significant assistance to the LSC. The LSC did not request a contribution from the Charity In the financial year 202212023 because of the timing of the LSC'S activities and requirement5. Durlng the 2023/2024 flnancial year the Charity made a 8rant to the LSC of £15,000 {2023= £Nil}. FINANCIAL REVIEW As shown in the Statement of Financlal Activlties, the Charity received a donation from the London Symphony Chorus of £60,00012023: £Nill to the General Trust Fund. Investment perforniance and management Details of the funds and accounts in which the London Symphony Chorus Endowment Fund and its constltuent funds are invested are set out In note 13 of the financial statements. Changes in the value of these holdings on the previous year reflect a number of factors Including fluctuations in the value of equities, receipts of dividends and interest, and expenditure. The Trustees have an agreed set of Investment policies and procedures. They regularly review the composition of the Fund's investment portfolio, particularly the proportion of equities within total assets. They regularly asse55 market and legal risk. The aim is to have a long-term investment policy that mitigates market risk throu8h a dlverslfled portfolio and takes account of ESG factors. In January 2024 BlackRock announced that it would terminate the BlackRock Charities UK Equity ESG Fund due to low take up. As reported in the Trustees, Report forthe 2022/2023 financial year, the Trustees began to actively review alternative funds. The investment in the ESG Fund had been made in the 202112022 financial year, moving fronlthe previously held BlackRock Charities UK Equity Fund. Given the short notice provided reèarding the closing of the ESG Fund, the Trustee5 decided to revert to the Fund previously used whilst the review continued. Revlew of Investment portfollo Equlty Investments During the 202312024 financial year the Trustees completed their review of the equity-based investments and decided to allocate money previously invested in the BlackRock Charities UK Equity Fund to a larger number of funds investing in a wider range of assets lincludin8 equities and fixed income) with a wider geographical spread. Note 13 shows that during the year the Charity invested in the CCLA Charities Ethical Investment Fund Income Units.
London Symphony Chorus Endowment Fund Report of the Trustees for the Year Ended 31st August 2024 Cash management Durin8 the financial yearthe Charity entered into an agreement with a cash management provider (regulated by the Financial Conduct Authority) which allows it to 8ain acce55 to a wide range of counterparties to increase opportunities for the investment of the Charlty's cash funds, alongside established relationships, and make it easier to manage the cash portfolio. Deposits are only made with counterparties which are covered by the Financial Services Compensation Scheme. ReseNes Pollcy The charlty hold5 reserves In restrlcted and unrestrlcted funds as follows: 2024 2023 Endowment funds Trust Fund Endowment- Capital Trust Fund Endowment- Accumulated Income 833,266 55,899 889,165 777,999 45,961 823,960 Unrestrlcted funds General Trust fund 410,637 313,331 1,299,802 1,137,291 The charity holds reserves to fulfil its aims of furtheringthe objectives of the LSC. The major rlsk to the Income of the charity is the source of dividend and interest income. The Trustees work closely with the LSC to ensure that the Charity retains sufflclent reserves to support the work of the LSC on an ongolng basls. On a regular basis, the Trustees review the balance between equities and other investments in the portfolio. The aim is for all the fund's Investments in bank accounts and deposits to be covered by the Financial Services Compensation Scheme, although for short periods this may not always be possible.
London Symphony Chorus Endowment Fund Report of the Trustees for the Year Ended 31st August 2024 P05T FINANCIAL YEAR DEVELOPMENTS The Trustees, decision to allocate money previously invested In BlackRock Charities UK Equity Fund has continued to require change5 to the investments since the year end. At the date of this report, all monies held in that Fund have been reinvested. Full chan8es to the investments in the 2024/2025 financial year will show in the financial staternents for that period. Slnce the end of the financial year the Charity has made further grants to the London Symphony Chorus as follows: Restricted Funds- Endowment Fund Income 15,000 STRucfuRE, GOVERNANCE AND MANAGEMENT Governlng Document The London Symphony Chorus Endowment Fund is constituted under a trust deed dated 27 October 1993 as amended by a deed of variation dated 20 March 2014 and Is a registered unincorporated charlty, number 1028304. The Endowment Fund represents moneys glven to the Trust In 1993 and Income that was capltallsed In 2014. The Trustees can only use the capital of this fund in extraordlnary clrcumstances if all the Trustees a8ree. The General Trust Fund is not subject to any restrictions on the use of capital. The Trustees and Offlcers who have served durin8 the year and sSnce the year end are set out on page 5. No expenses or remuneratlon were paid to Trustees or Officers.
London Symphony Chorus Endowment Fund Report of the Trustee5 for the Year Ended 31st August 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Trustees The power to appoint and remove Trustees is vested in The London Symphony Chorus. REFERENCE AND ADMINISTRATIVE DEfAILS Registered Charlty number 1028304 Prlnclpal address 4 Drax Avenue London SW20 OEH Trustees Peter Sedgwick Vanessa Knapp OBE Denise Hoilette Rachel Wllson Jamie Broderick Alice Jones Elizabeth Webb Andrew Smith Damian Day Oliver Burrows Resigned 22 April 2024 Reslgned 28 February 2024 Resigned 25 April 2024 Appolnted 30 October 2023 Appointed 25 April 2024 Appolnted 25 Aprll 2024 Offlcer5 Treasurer Alex Kidney Independeriéexamlner Kreston Reeves LLP Chartered Accountants 9 Donnington Park 85 Blrdham Road Chichester West Sussex P020 7AJ th Approved by order of the board of Trustees on 27 January 2025 and signed on its behalf by: V Knapp- Trustee
Independent Examiner's Report to the Trustees of London Symphony Chorus Endowment Fund Independent examlner's report to the trustees of London Symphony Chorus Endowment Fund I report to the charity trustees on my examination of the accounts of the London Symphony Chorus Endowment Fund {the Trust) for the year ended 31st August 2024. This report is made solely to the charitV5 Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports} Regulations 2008. My work has been undertaken so that I might state to the charit¢s Trustees those matters l am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Responslbllltles and basls of report As the Trustees of the charity you are responslble for the preparation of the accounts In accordance with the requirements of the Charitie5 Act 2011 {'the 2011 Act'l. I report In respect of my examination of the charitls accounts carrled out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commlssion under sectlon 145(5llbl of the 2011 Att. Independent examlner's statement Your attentlon is drawn to the fact that the charity has prepared the accounts in accordance wlth Accounting and Reportin8 by Charities: Statement of Recommended Practice applicable to charities preparing their accounts In accordance wlth the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on l April 2005 whlch is referred to in the extant regulations but has been withdrawn. l understand that thls has been done In order for the accounts to provide a true and falr vlew in accordance with the Generally Accepted Accounting Practice effective for reporting perlods be8inning on or after I January 2019. I have completed my examination. I confirm that no material matters have come to my attention in connection wjth the examinetion giving me cause to believe: accountlng cordS were not kept in respect of the Trust as required by section 130 of the 2011 Act; or the accounts do not accord with those records; or 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 examlnation.
Independent Examiner's Report to the Trustees of London Symphony Chorus Endowment Fund Independent examlner's report to the trustees of London Symphony Chorus Endowment Fund (Continued) I have no cOnrn5 and have come across no other matters In connectlon with the examination to which attention should be drawn In this report In order to enable a proper understandlng of the accounts to be reached. L,.[Il,; L(. Lucy Hammond Bsc FCA Kreston Reeves LLP Chartered Accountants 9 Donnington Park 85 Birdham Road Chichester West Sussex P020 7AJ 11 February 2025 Date..
London Symphony Chorus Endowment Fund Statement of Flnan¢l81 Artlvlties for the Year Ended 31st August 2024 2024 Total fund5 2023 Total funds Unrestrlcted Endowment funds funds Notes INCOME AND ENDOWMENTS FROM Donatlons Investment income Other Income 60,000 3,238 60,000 30,913 325 27,675 325 22,938 Total Income 63,238 28,000 91,238 22,938 EXPENDITURE ON Charltable activltles London Symphony Chorus 15,000 15,000 Other 69 3,062 3,131 2,640 Total Expendlture 69 18,062 18,131 2,640 Net gains on investments 34,137 55,267 89,404 31,919 NEf INCOME 97,306 65,205 162,511 52,217 RECONCILIATION OF FUNDS li T•)tsl funds brou8ht forward 313,331 823,960 1,137,291 1,085,074 TOTAL FUNDS CARRIED FOBWARD 410,637 889,165 1,299,802 1,137,291 CONTINUING OPERATIONS All income and expenditure has arlsen from continuing activities.
London Symphony Chorus Endowment Fund Balance Sheet At 31st August 2024 2024 Total funds 2023 Total Unrestricted Endowment funds funds funds Notes FIXED ASSETS Investments 384,241 828,838 1,213,079 814,830 CURRENT ASSETS Debtors Cash at bank 2,196 24,200 5,716 57,611 7,912 81,811 1,935 323,166 26,396 63,327 89,723 325,101 CREDITORS Amounts falling due within one year 10 {3,0001 13,000) {2,6401 NET CURRENT ASSErs 26,396 60,327 86,723 322,461 TOTAL ASSETS LESS CURRENT LIABILITIES 410,637 889,165 1,299,802 1,137,291 NET ASSETS 410,637 889,165 1,299,802 1,137,291 FUNDS Unrestricted funds Endowmenkfunds li 410,637 889,165 313,331 823,960 TOTAL FUNDS 1,299,802 1,137,291 The financial statements were approved by the Board of Trustees on 2f January 2025 and were slgned on its behalf by: V Knapp- Trustee
London Symphony Chorus Endowment Fund Notes to the Flnancial Statements for the Year Ended 31st August 2024 STATEMENT OF COMPLIANCE The London Symphony Chorus Endowment Fund is an unincorporated charity registered in England, charity number 1028304. The registered office is 4 Drax Avenue, London, SW20 OEH. The financial statements are presented in sterling whlch is the functional currency of the charity and rounded to the nearest pound. The financial statements have been prepared in compliance with FRS 102 as it applied to the financial statements for the year ended 31st August 2024. ACCOUNTING POLICIES Basis of preparing the financlal statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparlng thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 20191,, Flnanc131 Reportlng Standard 102 'The Flnanclal Reporting Standard applicable In the UK and Republic of Ireland, and the Charities Act 2011. The financlal statements have been prepared on the accrua15 basis wlth investments stated at market value. Golng Concern The Trustees assess whether the use of golng concern is approprlate l.e. whether there are any material uncertaintles related to events or conditions that may cast significant doubt on the ability of the Charlty to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charlty has adequate resources to contlnue In operatlonal exlstence for the foreseeable future and there are no material uncertaintles about the Charity's ability to continue as a going concern, thus they continue to adopt the 80in8 concern basis of accountlng In preparing the financial statement Financial reporting standard 102 - reduced dlsclosure exemptlons The charity has taken advantage of the disclosure exemption within Section 7 Statement of Cash Flows in preparing these financial statements as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. Income All Income Is recognlsed In the Statement of Financial Actlvities once the charlty has entltlement to the funds, it is probable that the income will be received and the amount can be measured reSiably. io
London Symphony Chorus Endowment Fund Notes to the Financial Statements - contlnued for the Year Ended 31st August 2024 ACCOUNTING POLICIES- contlnued Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructlve 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 costs 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. Charltable artlvltles Costs of charitable activities are costs associated with supportin8 the London Symphony Chorus. Taxation The charity is exempt from tax on its charitable activities. Fund accountlng The Trust Fund is an Endowment Fund established in 1993 and the General Trust Fund was established In 2015 when a donation was made by the London Symphony Chorus. The General Trust Fund and income generated by it, are kept separate from the original assets and income and expenditure arising therefrom for clarity of accounting. Both funds exist to support the achievement of the charltable objects of the London Symphony Chorus. Flxed asset Investments The charity holds all investments at market value. Flnanclal Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their wtlement value. INVESTMENT INCOME 2024 2023 Dividends Interest 19,689 11,224 18,668 4,270 30,913 22,938 li
London Symphony Chorus Endowment Fund Notes to the Flnanclal Statements- continued for the Year Ended 31st August 2024 OTHER 2024 2023 Support costs 3,131 2,640 Included wlthln Support costs is £3,00012023: £2,640) for the independent examination. TRUSTEES, REMUNERATION AND BENEFITS There was no Trustees, remuneration or other benefits for the year ended 315t August 2024, nor for the year ended 31st August 2023. Trustees, expenses There were no Trustees, expenses paid for the year ended 31st August 2024, nor for the year ended 31st August 2023. 12
London Symphony Chorus Endowment Fund Notes to the Flnancial Statements- continued for the Year Ended 31st August 2024 COMPARATIVES STATEMENT OF FINANCIAL ACTIVITIES AND BALANCE SHEET Year Ended 31 August 2023. Comparatlve Statement of Financlal Actlvltles 2023 Total funds 2022 Total funds Unrestricted Endowment funds funds Notes INCOME AND ENDOWMENTS FROM Donations Investment income Other income 658 22,280 22,938 19,696 Total Income 658 22,280 22,938 19,696 EXPENDITURE ON Charitable actlvltles London Symphony Chorus 40,500 Other 2,640 2,640 2,500 Total Expendlture 2,640 2,640 43,000 Net gainslllosses) on investments 12,174 19,745 31,919 141,503) NET INCOME /(EXPENDITURE) 12,832 39,385 52,217 164,807} RECONCILIATION OFrFUNDS 11 Totsl funds brought foThvard 300,499 784,575 1,085,074 1,149,881 TOTAL FUNDS CARRIED FORWARD 313,331 823,960 1,137,291 1,085,074 13
London Symphony Chorus Endowment Fund Notes to the Flnancial Statements- contlnued for the Year Ended 31st August 2024 COMPARATIVES STATEMENT OF FINANCIAL ACTIVITIES AND BALANCE SHEET st Year Ended 31 August 2023- continued Comparatlve Balance Sheet 2023 Total funds 2022 Total funds Unrestricted Endowment funds funds Notes FIXED ASSETS Investments 265,105 549,725 814,830 837,453 CURRENT ASSETS Debtors Cash at bank 172 48,054 1,763 275,112 1,935 323,166 677 249,444 48,226 276,875 325,101 250,121 CREDITOR5 Amounts fallin8 due withln one year 10 12,640) 12,640) 12,500} NET CURRENT ASSETS 48,226 274,235 322,461 247,621 TOTAL ASSETS LESS CURRENT LIABILITIES 313,331 823,960 1,137,291 1,085,074 NET ASSETS 313,331 823,960 1,137,291 1,085,074 FUNDS Unrestricted funds Endowment funds 11 313,331 823,960 300,499 784,575 TOTAL FUNDS 1,137,291 1,085,074 14
London Symphony Chorus Endowment Fund Notes to the Financlal Statements- contlnued for the Year Ended 31st August 2024 FIXED ASSET INVESTMENTS 2024 2023 Shares Fixed term deposit accounts 904,204 308,875 814,830 1,213,079 814,830 Listed investments MARKET VALUE At 1st September 2023 Additlons Dlsposals Revaluations 814,830 649,616 1631,605) 71,363 At 31st August 2024 904,204 NET BOOK VALUE At 31st August 2024 904,204 At 31st August 2023 814,830 There were no investment assets outside the UK. Fixed term deposits were as follows: 2024 2023 Brouglft forward Additions Disposals 54,542 883 (55,425) 308,875 308,875 The cost of investment held as at 31st August 2024 is £992,05512023: £660,025). See Note 13 for further details and a breakdown of the investment5 held within each fund. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments and accrued income 7,912 1,935 15
London Symphony Chorus Endowment Fund Notes to the Financlal Statements - continued for the Year Ended 31st August 2024 CASH AT BANK 2024 2023 Cash Investment accounts 1,069 80,742 80,198 242,968 81,811 323,166 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals and deferred income 3,000 2,640 16
London Symphony Chorus Endowment Fund Notes to the Flnancial Statements- continued for the Year Ended 31st August 2024 11. MOVEMENT IN FUNDS Statement of funds: At 1.9.23 Income Expenditure Gains At 31.08.24 Endowment funds Trust Fund Endowment Income Capital 45,961 777,999 823,960 28,000 118,062) 55,899 833,266 889,165 55,267 55,267 28,000 (18,062) Unrestrlcted funds General Trust Fund 313,331 63,238 169) 34,137 410,637 TOTAL FUNDS 1,137,291 91,238 (18,131) 89,404 1,299,802 Comparative statement of funds At 1.9.22 Income Expendlture Gains At 31.08.23 Endowment funds Trust Fund Endowment Incorrie Capital 26,321 758,254 784,575 22,280 {2,640) 45,961 777,999 823,960 19,745 19,745 22,280 {2,6401 Unrestrlcted funds General Trust Fund 300,499 658 12,174 313,331 TOTAL FUNDS 1,085,074 22,938 12,640) 31,919 1,137,291 17
London Symphony Chorus Endowment Fund Notes to the Flnanclal Statements - contlnued for the Year Ended 31st August 2024 12. RELATED PARTY DISCLOSURES The London Symphony Chorus During the year ended 31st August 2024 transactions with the London Symphony Chorus were as follows: Unrestrlcted funds- General Trust Fund- Income 2024 2023 Donation from the London Symphony Chorus 60,000 Restrlrted funds- Trust Fund Endowment - Expendlture 2024 2023 Grant to the London Syrnphony Chorus (15,000} 18
London Symphony Chorus Endowment Fund Notes to the Financial Ststements - continued for the Year Ended 31st August 2024 13. LONDON SYMPHONY CHORU5 ENDOWMENT FUND'S HOLDINGS 2024 Market Value 2023 Original Cost Orlglnal Cost Market Value Investment Assets Trust Fund Endowment Shares BlackRock Charities Growth & Income Fund Class A Inc 9,633.91112023: 9,633.911) units held CCLA Charlties Global Equlty Income Fund 5,861.66 {2023: 5,861.66} units held BlackRock Charities UK Equity ESG Fund A Inc Nll (2023: 238,094.3481 unlts held BlackRock Charities UK Equity Fund A Inc 59,828.66112023: Nil) units held CCLA Charities Ethical Investment Fund Income units 36,250.650212023: Nil) units held 10,000 10,659 10,000 9,991 10,000 17,044 10,000 15,445 519,145 524,289 429,300 464,553 113,000 112,707 562,300 604,963 539,145 549,725 Fixed Term De osit Accounts Santander International-Term Deposit United Trust Bank- Term Deposit United Trust Bank-Term Deposit Aldermore Bank plc-Term Deposlt Cambridge & Counties Bank Sainsbury's Bank 60,000 40,000 30,000 49,875 34,000 10,000 60,000 40,000 30,000 49,875 34,000 10,000 223,875 223,875 Investment assets 786,175 828,838 539,145 549,725 19
London Symphony Chorus Endowment Fund Notes to the Financial Statements- continued for the Year Ended 31st August 2024 13. LONDON SYMPHONY CHORUS ENDOWMENT FUND'S HOLDINGS- continued 2024 Market Value 2023 Original Cost Original Cost Market Value Investment Assets General Trust Fund Shares CCLA Charltles Global Equity Income Fund Accumulation 49,981.85 (2023: 49,981.85) units held CCLA Charitles Global Equity Fund Income 4,981.5712023: 4,981.571 unlts held 110,880 284,756 110,880 251,979 10,000 14,485 10,000 13,126 120,880 299,241 120,880 265,105 Flxed Term De HSBC Bank plc osit Account 85,000 85,000 85,000 85,000 Investment assets 205,880 384,241 120,880 265,105 Investment a5set5 by Fund Trust Fund Endowment General Trust Fund 786,175 205,880 828,838 384,241 539,145 120,880 549,725 265,105 Total Investment assets 992,055 1.213,079 660,025 814,830 Investment assets by type Total Shares Total Fixed Term Deposlts Accounts 683,180 308,875 904,204 308,875 660,025 814,830 Total Investment Assets 992,055 1.213,079 660,025 814,830 20
London Symphony Chorus Endowment Fund Notes to the Flnancial Statements- contlnued for the Year Ended 31st August 2024 13. LONDON SYMPHONY CHORUS ENDOWMENT FUND'S HOLDINGS- continued 2024 Market Value 2023 Original Cost Orlglnal Cost Market Value Cash at Bank and Investment Accounts Trust Fund Endowment Barclays Bank plc-current Account Virgin Money plc - Deposit Account Virgin Charity Account Cambridge & Counties Bank Ltd Cambridge & Counties Bank Ltd- Term deposit United Trust Bank Ltd Hampshire Trust Bank PLC Standard Chartered Bank-Term Deposit Investec Bank-Term Deposit Investec Bank-Term Deposlt 369 369 79,773 7,543 52,543 50,283 79,773 7,543 52,543 50,283 12,445 12,445 18,725 26,790 39,455 18,725 26,790 39,455 7,714 1,083 22,000 8,000 6,000 7,714 1,083 22,000 8,000 6,000 57,611 57,611 275,112 275,112 Barclays Bank plc- Current Account Vir8in Money plc - Deposlt Account Hampshire Trust Bank PLC Standard Charted Bank- Term Deposlt 700 700 425 21,179 26,450 425 21,179 26,450 23,500 23,500 24,200 24,200 48,054 48,054 Total Cash at Bank 81,811 81,811 323,166 323,166 21
London Symphony Chorus Endowment Fund Detailed Statement of Financial Activitles for the Year Ended 31st August 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacles Donations 60,000 Investment Income Dividends 19,689 18,668 Other Income Bank Interest Recelved Other income 11,224 325 4,270 Total Incomlng resources 91,238 22,938 EXPENDITURE Charltable actlvltles London Symphony Chorus 15,000 Support costs Governance costs Accountancy and legal fees Other costs 3,000 131 2,640 Total resources expended 18,131 2,640 Net Income before galns and losses 73,107 20,298 Unrealised and realised gains /llosses) 89,404 31,919 Net Income 162,511 52,717 22