Reglshtlon No. 1044507 Company re8lstratlon No. 3020834 (England and Wales) GOLDSMITHS CHORAL UNION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 GOLD5MITH5 CHORAL UNION CONTENTS Page Statutory Informatlon Report of the management commlttee Report of the Independent examiner Statement of flnanclal activlties Balance sheet Notes to the financlal statements LEGAL AND ADMINISTRATIVE INFORMATION TrusteeslDlrectors Sharon Pierson- Chalr Robin Happé- Secretary James Plercy- Treasurer Irene Ilias- Concert Manager Irene Clugston Jane Corkill Sheila Labatt {retired 28 July 20231 lan Stephenson Arabella Stuart Vlctoria Ware MBE Davld Willlngham Charlty number 1044507 Company number 3020834 Re8lstered offlce clo GMAK SenJlce5 Ltd 517 Vemon Yard Portobello Road London WII 2DX Independent examlner Angela Ktlstakls ACA, FCCA GMAK Servlces Ltd Flat 1, 26 Lansdowne Road London WII 3LL Bankers HSBC UK The Helicon I South Place London EC2M 2UP GOLDSMITHS CHORAL UNION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FDR THE YEAR ENDED 31 AUGusf 2024 REPORT OF THE MANAGEMENT COMMirrEE {coNfiNUED) srRucfuRE, GDVERNANCE AND MANAGEMENT Goldsmlths Choral Unlon {herelnafter referred to as "GCU" or °the Company") is a company Ilmlted by guarantee, number 320834, and reglstered wlth the Charlty Commlsslon, number 1044507. It Is 8overned by Its Artlcles of Assoclation and is managed bya mmmltteewhose members areelerted annuallybythe membershlp. The Commlttee meets regularly throughout the year, normally wlth the Muslc Dlrector In attendance. The Company has no pald employees and relles heavlly on the voluntary support of Its members to carry out Its programme and obJectlve5, OBJECTIVES AND ACTIVITIES The Cornpany'5 objectlves ere to promote the study, pr8rtlce and perform8n¢e of choral works end other mu31c, Includlng contemporary and Ilttle-known works; and to foster and broaden the knowledge and appreclatlon of such muslc among its members and the publlc at large, through publlc performance5 and other actlvltles. The CompanVs prlnclpal actlvlty is the operatlon of an amateur cholr of whlch membershlp Is by audltlon. Bearfng In mind the Charlty Commlsslon's 8uldance on publlc benefft, and partlcularly on publlc benefft In relatlon to fee-chargln8, the Company Is commltted to enabllng as many people as posslble to beneflt from It5 actlvltles through choir mèmbèrshlp, partlclpatlon In workshops, concens and Dthèr thoral èvents and the Frlends, network. The cholrfs varled programme of muslc is Intended to appeal to a wlde and dlverse audlence, as well a5 to Blve performance opp¢rtunltles In major London venues to members, guest slngers and up-and- comlng professlonal sln8ers. Whlle the Company alms to make Its concert and workshop actlvltles self-financln8 through tlcket sales and other performance-related Income* generous sponsorshlp, le8acles and donatlons help It to keep tlcket prlces affordable to the general publlc and to offer concessions to 5peclal groups. To cover Its non-concert operatln8 costs, the Company relles prlmarlly on membershlp subscriptlons and the cholrfs own fund-ralslng artivltles. In settlng stsbscrlptlon levels and payment schedules, the Management Committee Is very aware of the need to remaln accessible to members on low IncDrnes and youngèr rnembEfs. MEMBERSHIP SUBSCRIPTIONS As noted in the prevlous annual report, the temporary arrangement for paylng membershlp subscrlptlons Introduced durlng the pandemlc restrlctlons Sn 2020/21, reverted to annual subscriptlons for the 2022123 season onwards. However, apart from the reduced subscrlptlons durlng 2020121, the 'headllne' rate has remalned unchanged slnce before thèn, althouBh addttlonal conces51ons havè slnte been Introduced. ACHIEVEMENTS AND PERFORMANCE Durlng the year, GCU'5 90th season, the Company perforrned and promoted varfDUS concerts and other sln8ln8 events to further Its objecttves, Includlng the followlng". 29 October 2023 at the Royal Albert Hall. As In prevlous years, GCU was engaged to Join other cholrs In Raymond Gubbay Limited {RGLI-promoted performance of Carl Orfs Carrnlna 8urana. 7 November 2023 at Cado8an Hall. Thls concert entltjed Austrfan Exubemnce, conslsted of Mozarys 'Great' C MlnDr Mass and Haydn's Joyous 'Marla There5e' Te Deum. Although consldered to be artistically successful performances, a deficlt of some E9,000 was Incurred, reflectlng the excesslve cost of puttln8 on concerts in such a prestlglous venue wlth top quallty muslclans and sololsts, whlch the slightly dlsappointlng attendance for such irnportant classlcal works failed to mltlgate. 15 December 202Y at HolyTrlnlty Sloane Square. Thls seasonal concert Included Vau8han Wllllams's Fontosio on Christmas Corols In additlon to a variety of carols - Induding two composed for the occaslon by cholr members - and was well attended. GCU was pleased to arrange for thls con￿rt to be in support of The Lily Foundatlon. GOLDSMrrHS CHORAL UNION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENfs FDR THE YEAR ENDED 31 AUGUST 2024 REPORT OF THE MANAGEMENf COMMITfEE {coMfiNUED) ACHIEVEMENTS AND PERFORMANCE 28 December 2023 at Barblean Hall. As In prevlous years, GCU was engaged by RGL for an agreed fee, to Joln ¢h other cholrs In a perf0rrnan￿ of Beethoven's 9 Symphony. 27 January 2024 at Pamoja Hall, Sevenoaks Sthool. 'Come-and-Slng Handel Choruses,. Thls well-organlsed oneThday workshop, whlch was also open to non-cholr members {havln8 been advertlsed locally), featured a volce coach land soprano sololstl from Sweden who, In addltlon to providing tlp5 on vocal technlque, gave a beautiful performance of a Handel arla sensltlvely accompanied by our planlst, Steve Jone5. The day was generally enjoyed by partlclpants and generated a useful surplus for the cholr,. the posslblllty of future open workshops, 15 under ¢onslderatlon by the Commlttee. 22 March 2024 at St John's Smlth Square. Thls venue, wlth Its 'Klals' grand organ, was selected as being particularly sultable for a performance of the Fauré and Duruflé Requlems In the verslon5 wlth organ and reduced orchestratlon {the pro8ramme also Included Llll Boulanger's Pie Jesu,) Unfortunately• wlth our requlrement for the maxlmum stage exten51on and only partlal avallability of the balcony. the Ilmited audlence capaclty, whlch was almost fllled, meant that a substantlal deficlt was Inevltablè. 24 March 2024 at st James'$ Church, Norland Square. A chance contact wlth a commlttee member resulted In a most welcome fee-earnlnB opportunlty to 8lve a further performance of Duruflé's Requiem, and arrangements are In progress for a slmllar follow-up to thls month's COn￿rt. 23 June 2023 at Holy Trlnlty Sloane square. Our Summer concert featured Bernsteln's popular Chlchester Psalms and Rutterfs The Glft of Lrfe la slx-movement choral celebratlon of the living earth and Its creatlonl, In addltlon to short pleces by Holst and Canadlan composer, Sarah Quartel. The relatlvely hl8h cost - whlch Included a harplst and 3 percusslonists plus the hlre and transport thelr Instruments - for what Is generally a low-cost event Inevltably resulted In a deflclt, suggestlng the need for future restralnt and an increase In the ticket prlce for concerts at thls venue. Summer Sln8s at Queen's Gate House. These informal sing-throughs, open to members and guests, took place on 26 June and 3 July 2023 at Queen's Gate House, the works studled belng Mendelsson's Elljah and Vaughan Wllliams's A Seu Symphony• respectlvely. Cholr numbers: The number of members durlngthe year was ITBAI, an Increase from 96 In the prevlous year. RE-AUDITIONING The re-auditlonlng of cholr members In accordance wlth the cholrfs rules, whlch had commenced during the prevlous summer, was completed In September 2024, The current number of members remalns at (TBAI, posr YEAR-END As In prevlous year5, the cholr promoted It5 own November concert {Handel's 4 Coronotlon Anthems and Vlvaldi's Glorlo) at Cadogan Hall and Chrlstmas concert {Brltten's Ceremony of Carols, and a selectlon of tradltlonal and modern carols) In Holy Trinlty Sloane Square. In addltlon, GCU was agaln pald for Its members, partlclpation In Raymond Gubbay Llmited's {RGL'sl performance of Beethoven's 9 Symphony at Barbican Hall on 28 December 2024,. RGL'S fee, comblned wlth 8uest slnger contrlbutlons, has once agaln made a useful contribution towards mltlgatlng the deflclts on our own concerts. GOLDSMITHS CHORAL UNION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 REPORT OF THE MANAGEMEKf COMMrrrEE {coMfiNUED) FINANCIAL REVIEW The Company ended the flnanclal year wlth a net deftclt of £58112022123: £1,449), conslstlng of a surplus on general Income and expenditure account of £11,13412022123: £7,799) less a deflclt of £11,71612022123', deficlt E9,2481 on concerts and other events. Restrlrted funds: In compliance wlth stipulatlons of the donors to the effect that these funds may only be used to support Gcu-promoted concerts at certaln major London venues, the Trustees have authorlsed the £1,000 balance brought forward to be transferred to Unrestrlcted funds In recognltlon of the deflclt of £9,171 Incurred on the cholrfs Mozart and14aydn concert at Cadogan Hall in November 2023, leavin8 a balance of nll. Unrestrlcted funds: After the above-mentloned transfer from Restrlcted funds, there was a surplus for the year of £418 increaslng Unrestrlcted funds from £110,436 at the beglnnlng of the year to £110,854 carrled forward. This remalns comfortably above the amount speclfied In the Company's reserves pollcy (revlewed annually), whlch Is de51gned to ensure that sufflclent Unrestrlrted funds are malntalned to protect the Company agalnst any unforeseen flnanclal demands. As a result, thedlrectors are confident that the Companywlll remaln a 8olng concern for at least the next 12 months. Total funds: The Companvs total reserves at the year-end, belng the sum of Restrlcted and Unrestrlcted funds carrled forward, amounted to £IID,854 ThUSTEES Thè thembers of thè Managerr)Èht CommittÈe, who Sètvèd as Dirèttors Of thè company and Trustèès Of thè Charity durlng the year and up to the date of thls report, are Ilsted on page l. MANAGEMENT cOMMI￿EE RESPONSIBILITIES Company law requlres the Management Commlttee to prepare accounts for each flnanclal year whlch glve a true and falrvlew of the state of the Company and of surplus or deficlt for the perlod. In preparlng these accounts the Management Commlttee Is requlred to: Select sultable a¢countln8 pollcles and apply them conslstently• Make Judgments and estlmates that are reasonable and prudent,. Follow applicable accountlng standards: and Preparethe accounts on thegolng¢oncern basls unless Itls Inapproprlateto presumethatthecompany will remaln In buslness, The Management Commlttee Is responslble for keeplng proper accountlng records that d15close the financlal posltlon of the Company with reasonable accuracy at any tlme and enable the Commlttee to ensure that the accounts comply wlth the Companie5 Act 2(JJ6 and Charitles Act 2011. The Commltteels also responslble for safeguarding the assets of the Company and for taklng reasonable steps for the preventlon and detectlon of fraud and other Irregularlties. Publlc benefit statement: The Management Committee confim)s that It has complled wlth the duty In Sectlon 4 of the Charltles Act 2011 to have due re8ard to the Charlty Commlsslon's 8eneral 8uldance on Publlc Beneflt 'Charities and Publlc Benefit,. GOLDSMITHS CHORAL UNION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 REPORT OF THE MANAGEMENT COMMirrEE (CONTINUED) INDEPENDENT EXAMINATION This report has been prepared per the Statement of Recommended Practice Financlal Reporting Standard FRS 10212015), Its update Bulletin 1120161 and the Special Provi51ons of the Companles Act 2006 relatlng to small entltles. The Company has taken advantage of the small companies exemptlon in preparing thls report. In Ilne with Sectlon 144 of the Charltles Act 2011, these accounts are subJect to Independent Examinatlon by Angela Ktlstakls, FCA, FCCA of GMAK Servlce5 Ltd. The Directors declare that they have approved the report. Signed on behalf of the Compan¢s Trustee51Directors: Sharon Plerson Chalr Date: 14 191 { James Piercy Treasurer GOLD5MITH5 CHORAL UNION ANNUAL REpoKf AND UNAUDITED FINANCIAL sfATEMEMrs FOR THE YEAR ENDED 31 AUGUSf 2024 REPORT OF THE MANAGEMENT COMMrrrEE (CONTINUED) I report on the flnanclal statements, together wlth supportlng Notes I to 15, of Goldsmlths thoral Union for the year ended 31 August 2024, whlch are set out on pages 7 to 13. R¢spe¢tive responslbllltles basls of report As the trustees of the charlty (and Its dlrectors for the purpose5 of cornpany law} you are responsible for the preparatlon of the account5 In accordan￿ wlth the requlrements of the Companles Act 2006 (the 2006 Act). Havln8 satlsfled myself that the financlal statements of the charity are not requlred to be audlted under Part 15 of the 2006 Act and are ellglble for Independent examlnatlon, I report In respect of my examlnatlon of the charlty's financlal statements carrled out under Sectlon 145 of the Charltles Act 2011 (the 2011 Act). In carrylng out my pxamlnatlon, I have fDIIDwed all the appllcable DlrectlDn5 glven by the Charlty CDrnrnIs51on under Sectlon 145{5)(bl of the 2011 Art. It Is my responslblllty to: Examlne the accounts under Sectlon 145 of the 2011 Act; Follow the procedures lald down In the General Dlrection5 glven by the Charlty Commlsslon under Sectlon 14515) of the 2011 Act; and State whether partlcular rnatters have come tD my attentlon. Independent examIn¢￿5 Statement I have tompleted my examlnatlon. I conflrm that no matters have come to my attentlDn In connettion with the examlnatlon whlch glves me cause to belleve that In any materlal respect: The accountlng rett*rds were not kept In respect of the charlty as requlred by Sectlon 386 of the 2006 Act; or The accounts do not accord wlth those record5; or The accounts do not comply wlth the accountlng requlrements of Settlon 396 of the 2006 Act other than any requirement that the accounts glve a °true and fal￿ vlew whlch Is not a matter consldered as part of an Independent examlnatlon; or The financlal Statements have not been prepared In accordance wlth the methods and prlnclples of the Statement of Recommènded Practlce for accountln8 and reportlng by charltle5 appllcable to charltles preparlng thelr accounts In accordance wlth the Flnanclal Reportln8 Standard appllcable In the UK and Republlc of Ireland (FRS 102). I have no con￿rn$ and have come across no other matters In connection wlth the examlnatlon to whlch attentSon should be drawn In thls report In orderto enable a proper understandln8 of the accounts to be reached. Angela ktlstakls, ACA, FtCA GMAK Servlces Llmlted Flat 1, 26 Lan5downe Road London Wll 3LL Date: ¥ Aard/L 20g< GOLDSMITHS CHORAL UNION ANNUAL REPORT AND UNAUDrrED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 AUGusf 2024 REPORT OF THE MANAGEMEiwf COMMIThEE (CONTINUED} Note 202>124 Un- restrl¢ted Re$trlrted fundj funds rertrlrted R¢strfrted funds funds Trjtsl nds Total funds IncomeArom.' Subscript5ons and donations Charltable actlvltles Investments and mlscellaneous 40,905 51,769 2,837 40,905 51,769 2,837 35,145 52,766 1,944 35,145 52,766 1,944 Total Income 95,511 95,511 89.855 89,855 ExPendI￿re on.. Charltable actlvltles Ralsln8 funds 96,092 96,092 91,304 91,304 Total resources expended 96,092 96,092 91,304 91,304 Net deficlt for th• year Inet movement ol funds (5811 {5811 11,449) {1,4491 Transfer between funds Is {I,0001 17,000 117,0001 Fund balances brought forward 110,436 1,000 111,436 94,885 18,000 112,885 Fund balances carrled forward 110,855 110,855 110,436 1,000 111,436 The statement of flnanclal actlvFtles includes all galns and losses reeognlsed In the year. All Income and expendlture derlve from contlnuln8 actlvltles. The statement offlnancial actlvltles also cornplles wlth the requlrements for an incorne and expendlture account under the Companies Act 2006. GOLDSMITHS CHORAL UNION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 REPORT OF THE MANAGEMENT COMMIThEE [CONTINUED} 2024 2023 Note Flxed assets Equipment 2.6, 12 393 524 Current assets Stoclf5 Debtors Cash and bank balances 544 34,523 79,939 365 27.663 86,454 13 115,006 114,482 Current Ilabllltles Creditors 14 14,5441 13,5701 Net current assets 110,462 110,912 Net assets 110,855 111,436 Income funds Unrestricted fu nds Restricted funds 110,855 110,436 1,000 15 Total funds 110,855 111,436 The Company is entitled to the exemption from the audlt requlrement contained in Section 477 of the Companies Act 2006, for the year ended 31 August 2024. No member of the Company has deposited a notlce, pursuant to Section 476, requlrlng an audit of these accounts. The Directors are responsible for ensuring that the Company ln: Balance brought forward Char8e for the year 131 131 131 Balance carrled forward 262 131 Net book value earrled fonyard: At 31.08.24 393 524 At 31.08.23 524 Equlpment con51sts of an electronlc keyboard and Its carrylng case. 13. DEBTORS 2D24 2023 Amounts fallln8 due wfthln one year: Prepayments and accrued Income Tax recoverable under Glft Ald Other debtors 4,695 29,538 290 5,058 22,420 185 34,523 27,653 CREDITORS 2024 2023 Amounts falllng due wfthln on? year: Trade creditor5 Accruals and deferred Income Other credltor5 1,259 3,130 155 1,788 1,334 4,544 3,570 12 GDLD5MITH5 CHORAL UNION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2D24 15. RE￿RIcrED FUNDS 2024 2023 Balance brought forward Transfer to Unrestrlcted Funds I,OOD 18,ODD 11,000) {17,000} Balance carried foNard 1,000 The donors speclfied that these monles were to be applled solely to SUPPOrt Concerts promoted by the company and performed at major London venues, Includlng Cadogan Hall. On thls basls, the Trustees have agreed to the transfer of the £1,000 balance of these funds to Unrestrlcted funds In conslderatlon of the deflclt of£9,171 arlslng from the concert promoted by GCU at Cadogan Hall on 7 November 2022. 13