Registered number 3124250 The City of London Phonograph and Gramophone Society Limited Company Limited by Guarantee Directorn. and Trustees, Report and Unaudited Financial Statements For the year ended 31 July 2025 Charity number 105T638 *AEZStkMG' 0210412026 COMPANIES PK)USE
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Tho City of London Phonograph and Gramophone Society Limited IA comY linlted by gIrnne1 Directors. and Trustses. Report and Unaudited Finaneial Statemènts Year ended 31 July 2025 Contents Reference and administratple detaib ofthe Company. its Trtee5 and thisers Directors. and Twstees. Report Independent &xaminer'$ rewt Statement of fIncial a¢tivities Balance sheet Notes to the financial sL*ements Detsiled ststement of financial a¢livitss 10 11-15 16
The City of London Phonograph and Gramophone SOcty LiThHted (A company limiled by guarnnte•) Reference and administrdtive details of the Company. its Trustees and advisers Company name The City of London Phonogrdph and Gramophone Socty Limited Directors Mr. J. H. C. Proudfoot Mr. 8. E. Oakley Mr. R. J. Girling . Mr. K. R. Harrison Mr. R. S. Scott Ms l. Stanovic MS E. R. G. Hedger Mr T. H. Stephenson Mr P. N. Leech Mr A Pi¢kard (appointed 5 October 2025) Secretary Mr. R.S. S¢ott Independent examiner Mr D. Saint, ACA 3 Old Dairy Cottage8 Ibstone High Wycombe Bu¢ks HP14 3Y Bankers Natimal Westminster Bank pk, Reth0d Bank Linwted and WdwnK)re 8ank PLC Registered offiee The Tangle Ibstone High Wycombe Bu¢k$ HP14 3XT Registered number 3124250 Charity number 1057538
The City of London Phonograph and Gramophone Society Limited (A company limited by guarantee) Directors. and Trnstees. Report Year ended 31 July 2025 The Dired$ for the purposes of the Conyanies Act (ttht are 4s0 the Ttee$ of Ihe Coryany ) have pleasure in presenting th•ir rewt and the unau(fjied thancial statements of the Conyany for the year ended 31 July 2025. The Directors confirm that the annual report and financial statements of Ihe company meet the requiremerrts for a threctOTS' report and accounts for Companies Acl purposes and coThyly ilh Ihe CharFtes Act 2011. the Compantes Act 2006 and the Accounting and Reports'ng by Chare5. Statem¢nt of Recommended Praclice applicable to ¢harilies preparing their accounts in 8¢¢ordance w1 the Finanual Reporfing Standard applicable in the UK and Republi¢ of Ireland IFRS102)(effeclive 1 January 2015). Directors - Ved as threctors OJring b)e year: Thc follo519 . Mr. J.H.C. PrLMKlfoot Ms l. Stanowc (appointed 6 October 2024) Mr. B.E. Oakley Mr. R.J. Girling Mr. K.R. Harrison Mr. R.S. Scott Ms E. R. G. Hedger Mr T. H. Stephenson Mr P. N. Lee¢h structurn, Gov•rnance and Management The Compony is limited by guaranteo and IE a Registered Chanty. Nmber 105753A The f•nmr)any is bound by its Memoronthm and of)(alln *thi¢tJ ore lodged at both c¥Jni HNLqe and the Charity Commisioner5. The policy and general management ofthe Company 1$ <bre¢ted by the Board of DKector5 vthose number shall not be less than 4 nor more than 12. The (firectors are appointed by Ihe membe of the Society at the Annual General Meeting from thr number and during the tenn of office. ea¢h thrector must be a member of the Society. At the knnual General Meeting. two membefs ofthe Board of Oirectors foi the time being shall felÉre from office vthen the nurnber of rfirectors exceed5 five and three en the number of direGtors exceeds nine. The members of the Board of Dwecth to retire shall be the membets have been longest in office since thr election or aplxxnlment. A reliring Member of the Board of Direct¢X5 shall be di&ible for re-eleclion. The Company maintains links and works with any and aH parties have an interest in the futherance of ts charitae objectives.
The Directors carry a iisk assessment upon the aclivilies undertaken in Nder to safeard the assets of the Company. The D1ClorS intend to review the risk assessment ea¢h year in order to maintain the effectiveness ofthe mewes implemented 85 a resull of their assessment. Objectives and Adi¥ities The principal activity of the CoThyany Ixxing the year was that of a learned sotsety. The obje¢tive5 ofthe Company are to athian¢e the edu¢ation ofthe publi¢ in the art, scien¢e and history ofthe reproduclion ofsound. In order to a¢hieve these obpthes. the Directo are committed to increasing the membershp of the soaety each year, prepare periodic iownals, attend appropriate trade fairs and provide other events to publicise and pr¢)mote Ihe Coffpany's ¢haritabl¢ obieclives. The Directors believe thal by promoling the stated obie¢ts¥es, Ihe ILmg term stratew ot the Company 11 be acbieved. The Dife¢tors and Trustees 7Aish to express their Wallde to Ihe volwitews GlinUe to offer their unpaid seNices for the beneffit of the $o¢iety. The Diredors con$ider that the a¢ts¥itses of the conv have a¢hieved ils stated aiws thring the year. The Company's Reference Series publicalions remain Very popular and continue to sell well. The ongoing support and development of the pernHnent exhibibty) of talking mathines at The Musi¢al Museum provides exposure ofthe Company's charitable objectives to the general puNi¢. The Company also awards Richard Taykn 8ur8anes to supp(¥t lal research wopcts thich helps in¢rease tts a¢ademrc profde. Financial Review and Policies The Direct(Ks are mindful oflhe resources available to the c and review its aclivrties rwarly to confirm that there are sufficient funds aValae to conlrne to promote the tharitable obp¢tives The principal source of funth.ng c(nueS to be membership sub5Wions. However. Ihe cent period has seen a Si1cant increase in 'one off thnations and legaaes have putthe Company in a strong position to continue fvnding rts aclivitFes. Every member ofthe society has undertaken to ¢trIbute suth anmwnt as may be required (not exceeding £10) to the Companys assets should it be wound up thi[e he or she is a member or vrfthin one year after ¢ea$ing to be a men**er. Ifthe Company 1$ wwnd up or thsofved, its wlus assets will be gven or transfeed to a Coffipany Ihilh obp¢ts similarto those ol the Conyany. The Directors review available funds rewlarly in order to ensure that the Conyany has suffilaent resources to maintain its operation$ for a period of one year wthilst new swrces of fUndg are obtsined. After rYokFng appropriate enqutries, the Directo have a reasonable expe¢lalion that the company has adequate Tesources to conts'nue in operational existance for the I0eeable luttwe. Forthis reason. they ¢ontinue to adopt the going concem basts for preparing ffftanciai ststements.
Dir¢¢lors' Responsibilits in relation to the F1•1 Statwrn The Cofrwny Tnjslees (vkno are also the threctors oflhe Cty of London phonoaPh and Gramophone Society'Limtted for the purpt)ses of company law) are responsible for prying the Directors, and Twstees. Report and financial statements in accordance ilh applicable law and United Kingdom Accounting Standards (United lfjngdom Generally knepted Anting Stsndards). Company law requyes Oirectors to Fffepa on¢la1 slakments for ea¢h year give a Iwe and fair view of the state of affaits of the ¢haritatAe Company and of the income resources and applica15on of resources, induding income and expendihKe. of the CoThwny for that penod. In preparing financial 8tatements, the Directors are reid to.. - select suitsble a¢¢¢tIng p1¢1$ and then apply them consistenty" - observe Ihe methods and prin¢wls in the Chari¢tes SORP: - make iidgement and estimates that are reasonable and prudent: - slale vhether applicable UK accounling stsndard5 have been fOllNed, Wlect to any material departures disdosed and explained in the ffinanual Ststements; . prepare the finanaal statements on o going ¢Lmcem basi% unless it is iTrapwowiate to Presume that the Company will ¢onlinue in operation. The Directors are response for keeping woper accwnlin9 record5 Ihat (Ssdose wilh reasonable accuracy at any ts'me Ihe financial pO$'0n oflhe Company and to enable them to ensure thatthe financial statements COrnFAy knith the Conwanie$ Act 20Q6. They are aL80 respon%ble for safegwarding the assets of the Corrpany and hence laking reasonable steps for Ihe prevention and detection of fraud and other irrewlarities. The Directors are responS*e for the maintenance integrity ofthe wNate fmancial information induded on the charitse ¢ompan¥$ websrte. Legislation in the Unrted Kingdom goveming the preparatson and dissenunalion of financial ststements may drffer from leg51ation in other jurisdiction$. This reportwas approved by the the(tss /l.T. •d $i¢d m their behalf by.. MrRSScott Director
The City of London Phonograph and Gramophone S¢xty Limited (A company limiled by guarantw) Independent Examlnerfs Report to the Trustees of The City of London Phonograph and Grdmophone Society Limited I repLYl on the financial statements ofthe Mwoany for the ye¥ ended 31 Juty 2025 whith are Set wt on page 9 to 16. This report is made sdey to Ihe compan$ Tnjstses {vkno are also ireclNs kn Ihe puryK of Company Lawl. as 4 body, in accordance with section 145 of the Charibes A¢t 2011 (the ACO and regulalions made under seclion 154 of that Act. My wNk has been undertaken so that I nwght state to the convan5 Trustees those matters l am required to state to them in an examinerfs report and for no other purpose. To the fUe$l extent PrnitIed by law, I do not a¢¢ept or assume responrAknlity to anyone other than the ¢cAnpany the corr@anS Tntstees as a body, for my work or for thbs reporL Resi)e¢li¥e Responsibilities of Trustees and Examiner The Twstees are responsible for the preparation ofthe finanaal ststements. The Trustees ¢on$ider that an autht 1$ not rewired for this year under se¢tiM 144(2) of the Charilies PLt 2011 and that an independent exaFThnation is needed. Having satisfed myself that the company is not subprt to auth under thaiity or compY law and is eligible for independent examination, il bs my responsibility to: - examine the ffinanaal statements under $ection 145 ofthe ,. - folow the procethres laid dovm in weral threclions gven bylhe Charity Com¥¥yssi¢ffi der $e¢liM 145(5)Ib) of the A¢¢ ' and - state whether parfi¢ular rrAtters have come to my attention. 8a$i$ ot Independent Examlnerfs Report My examination a$ ¢aryied out in accordance wilh gener81 i"reCli gven by Ihe Charity Commi$ion. Nn examination indudes a review of a¢¢<AJnling records kepl by the nanY and a conyari50n of the financial ststements presented 1h those re¢ord$. It al$0 indudes ¢onsideration of any unusual items or thsclosures in thè nancial ststements, and seeknng explana110r from you as Trustees CLCeing any suth mattern. The procedures undertaken do not provide all of the evidence that YUld be required in an autht. and con5equenty no opinion is given as to whethei the financial 3tstements present a Inje and fair and the report is limbted to those matters set wt in the staternent below.
Independent Euminerfs SL*• In ¢onneclion 7rtilh my exarThnation. no matter has Come to my altents¢)n . 1. gives me reasonable cause to believe that in any material respedlhe fequirements.. - to keep accounting records in ac¢ordan¢e wth seclion 386 oflhe Companies kt 2006", and - to preparc financial ptatcmcnts v+hich accord Ihe acn1'na Tecord6 and comply the accounling re(wirements of sectioTr 396 ofthe Companies Ad 20C6 and with the methods and prinuples ofthe Statement of Recommended Fb¢tice'. Accolting and Reportirsg by Charities have nol been met,. or 2. to vthich. in opirwon, attention should be (travffl in order to enable a understanding of the financtal statements to be reached. D. Saint, ACA Independent Examiner 3 Old Dairy Cottages Ibstone High Wy¢ombe cks HP14 3YW
The City of London Phonograph arml Gramophone Society Limited (A cornpaThy linmted by guaMtw) Statement of Finaneial Aetivitses (incorporating the In¢ome and Expendityre Acc(wM for the year ended 31 July 2025 Total Funds 2025 Funds 2024 Donations and legacies Income from charitable activttses Subs¢ription income Interest 35,600 10,473 11.616 2,561 658 5,015 11.295 2,583 Total Income 19.551 Exp¢Dditure on . Expendibjre on Charitable activities E¥pendibJre on goveman¢e ¢osts 29,483 31.000 soo 30283 31.600 Net Inwn• forth• 29,967 {12,049) Raconcilialion of Funds . Total lunds brought foThMd 88242 100.291 Total Funds ¢anied forward 118,209 88,242
The City of London Phonograph and Grarnophone Society Llmited IA company limited by guarantee) Balane¢ Sh•gt as al 31 July 2025 2025 2024 Fixed assets Tangible assets 4,TlO 4,770 Currnnt assats Stocks Cash at bank and in hand 6.750 116.659 123,409 6.750 82,548 89.298 Creditots: anmwnts fallmg due wthin one year 10 {9.970) (5.826) Net current assets 113.439 83.472 Net assets 118209 88.242 Charity Funds Unre5trirted funds 118209 88.242 Total Funds 118.209 88,242 The drrectOTS are satisfied that the ¢ompary is entiled to exemplity) from tr requirement to obtain an audit under section 477 01 the Companies ALt 21x6. The member5 have not retwired the ¢onyany to ¢)blw an auot in a¢corkn¢e vAlh section 476 of the The dire¢tors a¢knovledge their responsilH"liti"es fc ensuring that the company keeps aeeounling records Ythi¢h CoMY vAlh seclion 386 of the Companies Act 2CK6 and for preparing ffinancial statements give a true and fair ¥iew of Ihe stste of affairs of the company as at 31 July 2025 and of its resurts for the year then ended in ac¢ordan¢e the rerymrements of $e¢tion$ 394 and 395 of the Companies Act 2006 and which otherv•ise CO V•ith the requirements of the Companies Act 2006 relating to fmanc4al statements so far as applicable to the ¢¢nwany. The finanaal statements have been prepared n aCcdanCe *ilh Ihe speaaF w0visir relalwig to companies subject to the small ¢otrparHes regime ¥thin Part 15 of the Companies Act and in accordance 1h the Financial Repwling Standard applicable in Ihe UK and Republi¢ of Ireland (FRS7021{effective 1 January 20151. The financial ststements V•VC approved by the board w 11. l. ts and $id on their behalf ty. Mr R. S Scott
The City ol London Phonograph and Gramophon¢ So¢i¢ty Limited (A ¢tpanY Ilmlted by guarantee) Notes to the Financial Statements for the year ended 31 July 2025 Accounting polici•5 Baws olpreparation The financial $tstements have been prepared in aCCordare ilh the Accwnling and Reporling by ChaTilies: Ststemwrt of Recommended Practice applicable to ¢harittes preparing their accounts in accordance Vith the Finanaal RePting Stsndard appli¢able in the UK and Republic of Ireland {FRS102){effective l January 2015) - {Charities SORP (FRS102)), and the Companies Act 2006. Companystatus The cornpany is a ¢onwy limiied by umwantee. In Ihe eventthat the comp is wound up, the liabilty in respe( ofthe wafantee is limited to £10 per Memb ofthe company. The Company only has finanaal assets and ffin8n(ial liabilibes of a knd that qualify as basic financial instruments. Basic financial instruments are iThl1 re¢wised al transaclim value and subsequentty measured at their selvement value. Fund accounling Al income 15 dassed as in¢ome Irom Lmrestri¢ted sowces urkn Ihere 15 8 $petifi¢ condition attached to the income as to its use by the Company then it 1$ relle¢ted as restricted funds ithin Ihe financ4d statements. Incomfr l income resources are induded m the $teml of fjnan¢ial a¢tsvibes vthen the company is legally entitled to the income and Ihe amount can be wanbfd *fjth reasable accuracy. Sub$¢riptions are accou for on a re¢er4ed basis and al other sources on an accfuals basi5. In¢ome tsx recoverable in rela1ion to don81ion$ received under gift aid is ree<>gnised at the time that the 1$ aepted by HM Revenue and Customs. All expendilure accounted for at the time Ihat it artses has been ir•duded under the expense tegOrieS that ageMe all $ts for alocation to adivrlies. Governance costs are those Ted in coMe¢bon administration of the company and coThwlian¢e 1th cthislitulional stalutory rwmrements.
ran'ble flxed •ssets Individual fixed assets ale measured at cost less aCljIaVe deprecialion and any accumulative ivvpairment losses. Certain assets ill be rev¥alued periodically in cfder to reffect their true maikel value. Depre¢iatiM vs provKled on all tangible red assets. at rates calculated to vKite off the cos( less estimated fesi¢knal value, of eath asset evenly o¥ its expected lrfe, as fouows.. Coftyuter equipment Fixtures & Frn Other assets over 3 ye¥s over 3 years o wovision a5 vahje exceeds eost Stocks are measured at the lor of Cost and eslimaled net realisable value. after makn'ng the allowance fi>r Lthdete and slthv mo¥ing items. Cost is delemiined using the fM5t in out method. Debtors ' Short tenn debtor5 are measured at transathon prl¢e (v4th is usualty the wM>ice wicel, less any impairrnent losses for bad and debts. c110r$ and provisions are recolsed the coMY has a Fyesent obligation resultsng from a past event and suth obligation can be measured or estimated reliably. Short temi creditor5 are measured at transa¢tion price (vthi¢h FS usu the inv(xce price). Foreign currency IsIation Assets and lia.1111es in forei currencies are tran4ated w)to sterting at the rates of exchange ruling at the balance sheet date. Tran5aclions in foreign currencies are initiaHy recognised at Ihe late of exchange wling at the date of the transaclion. Exthange ¢thfferen¢e¥ are taken in account in aryiving at the net income fLY the period. Donalion$ and lègacies 2025 2024 Donalions and legacies received Voluntary income Al amounts received reStr1ded nds. 35.600 35.600 658 658
Income fmm Chaiitabl• T¢>tal funds Total funds 2025 2024 Book shop income Phonofai Aifvertising reveNe Reference series sales London meetings colle¢lions aftd gift aid Centenary Needle Tir Master selles Malvem weekend {net income Olher in¢ome 1.375 1.375 1.069 1,681 731 731 30 126 7.536 116 10.473 1,413 62 116 10,473 5,015 Total lunds Total lunds 2025 funds 2024 Subs¢ription$ Gift aid 11.616 11.616 11295 11.616 11,616 11,295 PJI amounts received Thwe lestrIcted nds. Expendiknre on ¢harilable Tolal funds Total funds 2025 funds 2024 Sun*nary byfund type Costs of generating #)come 29.483 29,483 31,000 All expenditure was met from Lnre5tsicted fijnds. ¢3ovem•ce ¢osts 2025 X124 Awountsncy fees The eXpenthre related to the Independent Exane¢S remuneration Al expendthre vlas met from resti)rted fund5.
202S 2024 For the Re¢ord PTinlwig Other prling eooks, oylindeTr and other purthases Phonofair costs Room hire and meeting expenses Postage. ststionery and ath4erfising Subsuiptions Web $ite costs Oepreaation Insurance Sundry expenses Travel costs Bursary Repairs and maintenan¢e Licence fee 5.463 2,799 33 192 6.488 6.977 795 2.973 4,930 7,082 783 912 1.554 556 3,827 206 567 1.931 45 1.765 188 187 29.483 31,01)0 EMploeS 2025 Numl 2024 Number Average number of pers$ enyh)yed by the conyny No Salaries or wages have beffi paid lo eThWoyees thiing the year. AJI rfWect0 and voluntsers provided their servi¢es free of ¢harge. Tangib ass•ts Other Fixtsrns & Computer assets Fittings equipnt Total Cosl At 1 August 2024 Ad<thtions 4.770 11.968 1.707 18,445 At 31 Juty 2025 4.770 11.968 1,707 18,445 Depr•ci•tion At 1 August 2024 Charge At 31 July 2025 11.968 1.707 13,675 11.968 1.707 13,675 Net IM)ok wae At 31 July 2024 131 July 2025 4,770 4.770 4,770 4,770 In previous years. the (ffire¢to idenlified assets *thich had been acwired and vthich had no cost value recorded Mfjthui the $ooetys Balance SheeL In order that the exi5ten¢e is not10st to the soaety, the directo re-valued those assets and induded Ihem wthin Ihe ffinanal statements dw the heading 'other assets-
The assets concemed and the threctLYS Voluali(XLS ¥e: Tust of Ethson" an Expert Minor Gra[One- the"Frank Andrews Trophy" a "HMV 461 Gramophone" value value value value £2.000 £1.500 £655 £615 10 Cr•dIto. amounts fallwbg due wilhw onè par 2025 2024 Other crethiors Deferfed income 500 9.470 9,970 1,100 4,726 5,826 11 Statem•nt of Funds 2025 2024 urtrId funds 8alan¢e at 1st August 2024 In¢oming resources Resources expended 84lan¢e at 31 Juty 202S 88.242 60.250 (30283) 118.209 100291 19,551 131.600) 88,242 12 Analy51$ of a55ets between fvnd$ 2025 2024 Unveslricted funds ranle fixed assets Cuffent assets Creditors due witin year Balance at 31 Juty 2025 4.770 123.409 (9.970) 118,209 4.770 89.298 (5.8261 88,242 13 Related party trnnsxtions There were no fled party transadions for the ye ded 31 July 2025 ry 31 Juty 2024.
The City of London Phonograph and Gramophonfr So¢wty Llmit¢d (A oxnpany limited by guardntae) Detailed Statement of Financial A¢tivilies for the year ended 31 July 2025 2026 Oonat40ns and 1oga¢ies 35.600 658 Income fvom Charitable activreS Book shop income Phonofairs Advertising revernie Reference Series sales Lon¢S)n meetings colledions and gft aid Centenary Needle b.ns Master series Malvem weekend (net income) Other income 1.375 1,069 1.681 731 126 7.536 116 1.413 10.473 5,015 Su5criplion in¢om• Subscriplions Gift aid 11.616 11295 11.616 11.295 Interest 2.561 2,583 Totsl Income 60.250 19,551 Expe1Mlilu on chaiilable activilies For the Record PTinliig Other pruiting Books, Cylinders and other purchases Phonofair costs Room hire and mee1ing expenses Postage, stationery and otherfing Subs¢riptions Web $ble costs Depreaation Insurance &Jndry expenses Travel expenses rsary Repairs and maintenance Licence fee 2.799 33 60 4,930 7,082 783 912 1,554 556 3,827 206 192 6,977 795 2.973 567 1,931 45 187 29.483 31,000 ExPendIre on govemance ¢osts 600 Totsl expendlture 30.283 31.600 Net Inc4>me 29.967 {12.049)