2023-03-31-accounts - The York Early Music Foundation

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IN D EX			PAGE
TRUSTEES' REPORT
INDEPENDENT	AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES		12 - 15
CONSOLIDATED	STATEMENT OF FINANCIAL ACTIVITIES
CONSOLIDATED	BALANCE SHEET		17
CHARITY ONLY	BALANCE SHEET		18
CONSOLIDATED	CASH FLOW STATEMENT		19
CHARITY ONLY	CASH FLOW STATEMENT		20
NOTES TO THE	ACCOUNTS		21 - 37
The following pages do not form part ofthe statutory		accounts
DETAILED CHARITY ONLY INCOME AND EXPENDITURE ACCOUNT			39-40

The financial statements comply document.	The financial statements comply document.	with the sta	tutory requirements and with those of the ch	arity's gove	arity's gove	arity's gove	rning
The York Early Music Foundation		is managed	by a Board ofTrustees which during the year	comprised			of:
Anita Datta	Trustee		Freelance musician
			Conductor and Founder, The Swan Consort
			Trustee, English Touring Opera
Prof. Christopher	Trustee		Composer
Fox			Honorary Professor of Music, University ofYork
			Emeritus Professor of Music, Brunel University		London
			Editor, TEMPO, Cambridge University Press
			Member, Akademie der Kunste, Berlin
			Member, European Academy ofSciences and	Arts
Victoria Johnson	Trustee		Precentor, York Minster
			Trustee, Ryedale Festival Trust Limited (from	1	July 2022)
			Trustee, St Peters School
			Trustee, Church Music Society
			Trustee, Chapter ofYork Minster
			Trustee, The Christian Evidence Society (Incorporated)
Derri Lewis	Associate Trustee		Composer
			Project Manager Artist Development, Royal Academy			of	Music
			Chamber Music Administrator, Royal Academy		of Music
Menna McGregor	Trustee		Clerk to the Governors, Alleyn's School
			Trustee, The Royal Ballet School Endowment	Fund
			Governor, The Royal Ballet School (resigned	June 2023)
			Trustee, J Edward Conway Fund (resigned June 2023)
			Director, TRBSEnterprises Limited (to 3 February 2023)
Paul Murphy	Chair ofTrustees		Freelance Consultant
			Director (Chair), Tees, Esk and Wear Valleys Health Trust (retired 31"August 2022)	NHS Mental
			Trustee (Chair), Welfare Benefits Unit
Dr Simon Procter	Trustee		Director of Music Services, Nordoff Robbins
Martin Stancliffe	Trustee		Architect specialising in the conservation of historic buildings.
			Surveyor Emeritus, St Paula Cathedral
			Trustee (Chair), The York Consortium for Conservation				and
			Craftmanship
			Member, York Minster Fabric Advisory Committee
			Member, Canterbury Cathedral Fabric Advisory		Committee
Paul Tyack	Trustee		Director ofAdvancement, Newcastle University

					2023	2022
	Note	Unrestricted f	Designated f	Restricted 6	Total 6	Total
INCOME
Donations &legacies Raising funds Charitable activities		48,272 183,316 456,694	10,000	37,668 88,389	85,940 193,316 545,083	48,750 113,209 513,860
Investment income		1,960			1,960	1,021
Other income		5,000			5,000	6,393
TOTAL INCOME		695,242	10,000	126,057	831,299	683,233
EXPENDITURE
Raising funds Charitable activities	7 8	81,213 581,332	29,411	172,438	81,213 783,181	57,732 691,816
TOTAL EXPENDITURE		662,545	29,411	172,438	864,394	749,548
NET INCOME/(EXPENDITURE) FOR THE YEAR		32,697	(19,411)	(46,381)	(33,095)	(66,315)
FUNDS BROUGHT FORWARD AT
1 APRIL 2022		127,066	195,047	1,789,487	2,111,600	2,177,915
FUNDS CARRIED FORWARD AT
31 MARCH 2023		159,763	175,636	1,743,106	2,078,505	2,111,600

	Note			2022
		6		6
FIXED ASSETS
Tangible assets	14		1,460,348	1,503,722
CURRENT ASSETS
Debtors	16	66,240		48,402
Cash at bank and in hand		688,677		722,475
		754,917		770,877
CURRENT LIABILITIES
Creditors falling due within one year	17	136,760		162,999
NET CURRENT ASSETS			618,157	607,878
TOTAL ASSETS LESS
CURRENT LIABILITIES			2,078,505	2,111,600
NET ASSETS	19		2,078,505	2,111,600
FUNDS
General unrestricted funds	20	159,763		127,066
Designated funds	20	175,636		195,047
Total unrestricted funds			335,399	322,113
Restricted funds —fixed assets	20		1,453,267	1,496,098
Restricted funds —other	20		289,839	293,389
TOTAL FUNDS			2,078,505	2,111,600

	Note	f	f	2022 f
FIXEDASSETS
Tangible assets	14		1,460,348	1,503,722
Investments	15		1	1
			1,460,349	1,503,723
CURRENT ASSETS
Debtors	16	130,706		88,830
Cash at bank and in hand		599,607		648,276
		730,313		737,106
CURRENT LIABILITIES
Creditors falling due within one year	17	112,157		129,229
NET CURRENT ASSETS			618,156	607,877
TOTAL ASSETS LESS
CURRENT LIABILITIES			2,078,505	2,111,600
NET ASSETS			2,078,505	2,111,600
CHARITY FUNDS
General unrestricted funds	20	159,763		127,066
Designated funds	20	175,636		195,047
Total unrestricted funds			335,399	322,113
Restricted funds —fixed assets	20		1,453,267	1,496,098
Restricted funds —other	20		289,839	293,389
TOTAL CHARITY FUNDS			2,078,505	2,111,600

		Note	Note
				2023 f	2022f
	Cash flows from operating activities:
	Net cash provided by/(used in) operating activities		1	(27,459)	54,430
	Net cash flows from investing activities:
	Interest received			1,960	1,021
	Receipts from disposal oftangible fixed assets Payments to acquire tangible fixed assets			(8,299)	1,780 (9,105)
	Change in cash and cash equivalents in	the	year	(33,798)	48,126
	Cash and cash equivalents at 1 April 2022			722,475	674,349
	Cash and equivalents at 31 March 2023		2	688,677	722,475
1.	RECONCILIATION OF NET INCOME/(EXPENDITURE)			TO NET CASH FLOW FROM	OPERATING
	ACTIVITIES
				2023 f	2022f
	Net income/(expenditure) for the year			(33,095)	(66,315)
	Adjustments for:
	Depreciation oftangible fixed assets Loss/(profit) on sale oftangible fixed assets interest received Decrease/(increase) in debtors (Decrease)/increase in creditors			51,136 537 (1,960) (17,838) (26,239)	60,401 (1,780) (1,021) 9,959 53,186
	Net cash provided by/(used in) operating	activities		(27,459)	54,430
2.	ANALYSIS OF CASH AND CASH EQUIVALENTS
				2023 f	2022f
	Cash at bank and in hand			688,677	722,475

		Note	Note
				2023	2022
					8
	Cash flows from operating activities:
	Net cash provided by/(used in) operating activities		1	(42,330)	14,880
	Net cash flows from investing activities:
	Interest received			1,960	1,021
	Receipts from disposal oftangible fixed assets Payments to acquire tangible fixed assets			(8,299)	1,780 (9,105)
	Change in cash and cash equivalents in	the	year	(48,669)	8,576
	Cash and cash equivalents at 1 April 2022			648,276	639,700
	Cash and equivalents at 31 March 2023		2	599,607	648,276
1.	RECONCILIATION OF NET INCOME/(EXPENDITURE)			TO NET CASH FLOW FROM	OPERATING
	ACTIVITIES
				2023 f	2022f
	Net income/(expenditure) for the year			(33,095)	(66,315)
	Adjustments for:
	Depreciation oftangible fixed assets Loss/(profit) on sale oftangible fixed assets Interest received			51,136 537 (1,960)	60,401 (1,780) (1,021)
	Decrease/(increase) in debtors (Decrease)/increase in creditors			(41,876) (17,072)	(23,127) 46,722
	Net cash provided by/(used in) operating	activities		(42,330)	14,880
2.	ANALYSIS OF CASH AND CASH EQUIVALENTS
				2023 8	2022f
	Cash at bank and in hand			599,607	648,276

DONATIONS &LEGACIES
2023	Unrestricted	Designated	Restricted	Total
	funds 6	funds 8	fundsf	2023 E
Donations	27,859		9,540	37,399
Donated goods (note 24) Subscriptions	2,875		4,525	4,525 2,875
Gift Aid	17,538		23,603	41,141
	48,272		37,668	85,940
2022	Unrestricted	Designated	Restricted	Total
	funds F	funds	funds	2022 f
Donations	28,376		9,750	38,126
Donated goods Subscriptions Gift Aid	3,110 3,764		3,750	3,110 7,514
	35,250		13,500	48,750

RAISING FUNDS
		Unrestricted	Designated	Total	Unrestricted	Designated	Total
		funds 6	funds 6	2023 F	funds f	funds f	2022
Trading subsidiary (Note BoxOffice Commission Hire ofChurch	10)	90,585 8,494 22,925	10,000	100,585 8,494 22,925	50,170 5,261 15,915	10,000	60,170 5,261 15,915
Bar Sales		53,036		53,036	24,726		24,726
Instrument & Equipment Other activities income	hire	5,240 425		5,240 425	5,458 168		5,458 168
Recording fees PRSincome		1,800 811		1,800 811	950 561		950 561
		183,316	10,000	193,316	103,209	10,000	113,209

CHARITABLE ACTIVITIES
2023		Unrestricted	Designated	Restricted	Total
		funds	funds	funds	2023
		F	6	6	F
Arts Council England, Yorkshire: Annual grant		275,444			275,444
Capital Kickstart grant
Culture Recovery Fund grant	1
Culture Recovery Fund grant Mayfield Valley Arts Trust	2			14,875	14,875
City ofYork Council: Annual grant Festival grant		4,600 3,546			4,600 3,546
Covid support grants
Make it York
Events &Festivals Grant				3,000	3,000
Cultural Wellbeing Grant East Riding ofYorkshire Council				1,750 15,000	1,750 15,000
Music4U
Youth Music
Other income
I Can Play (York) Harrogate Deaf Society Other income Trusts & Foundations York Music Hub		142		4,400 500 2,500 563	4,400 642 2,500 563
NCEM Education Programme EEEmerging+ IYAC Entry Fees York Early Music Festival Beverley Early Music Festival York Early Music Christmas Festival York Early Music Digital Festivals NCEM Season Programme		42 8,950 2,585 76,522 24,453 13,349 6,925 40,136		45,801	42 54,751 2,585 76,522 24,453 13,349 6,925 40,136
		456,694		88,389	545,083

CHARITABLE ACTIVITIES	ontinued)
2022		Unrestricted	Designated	Restricted	Total
		funds	funds	funds	2022
		6	6	6	6
Arts Council England, Yorkshire Annual grant Capital Kickstart grant Culture Recovery Fund grant Culture Recovery Fund grant	1 2	275,444 5,000 25,000		2,800	275,444 2,800 5,000 25,000
Mayfield Valley Arts Trust				14,740	14,740
City ofYork Council Annual grant Festival grant Covid support grants		4,600 3,546 18,000	22,200		4,600 3,546 40,200
Make it York
Events & Festivals Grant
Cultural Wellbeing Grant
East Riding ofYorkshire Council				15000	15000
Music4U
Youth Music		7,427		7,573	15,000
Other income				5,695	5,695
I Can Play (York)
Harrogate Deaf Society Other income				2,000	2,000
Trusts &Foundations				459	459
York Music Hub
NCEM Educational Programme EEEmerging+				11,188	11,188
IYAC Entry Fees York Early Music Festival		28,147			28,147
Beverley Early Music Festival York Early Music Christmas Festival		12,728 22,585			12,728 22,585
York Early Music Digital Festivals NCEM Season Programme		29,728			29,728
		432,205	22,200	59,455	513,860

OTHER INCOME
				Unrestricted	Unrestricted
				and total	and total
				2023 6	2022f
Coronavirus Job Retention Scheme					613
Employment Allowance Profit on disposal offixed assets				5,000	4,000 1,780
				5,000	6,393
EXPENDITURE - RAISING FUNDS
				Unrestncted	Unrestricted
				and total	and total
			Note	2023	2022
				F	6
Marketing and promotion Business development Barcosts				15,566 4,755 27,159	17,174 6,029 17,192
Costs associated with external	hire			6,839	4,458
Trading subsidiary				26,894	12,879
				81,213	57,732
EXPENDITURE - CHARITABLE ACTIVITIES
2023		Unrestricted	Designated	Restricted	Total
		funds	funds	funds	2023
		6	6	6
NCEM Promotions		86,565	22,200	5,751	114,516
York Early Music Festival Beverley Early Music Festival York Early Music Christmas Festival York Early Music Digital Festivals EEEmerging+		155,499 33,024 57,599 22,053 33,331		2,500 17,331 38,188	157,999 50,355 57,599 22,053 71,519
Music4U
I Can Play Early Music Research Cultural Commissioning Project NCEM Education Programme NCEM Composers Award York Mystery Plays Archive REMA expenses Restricted Property Fund NCEM Young Artists Competition Development Costs Audience Development BBCNew Generation Baroque Ensemble		25,630 163 19,758 34,273 34,502 2,263 1,047 11,706 17,992 17,139 28,788	7,211	6,331 2,500 17,608 5,000 47,912 29,317	31,961 163 22,258 51,881 39,502 2,263 1,047 47,912 41,023 17,992 17,139 35,999
		581,332	29,411	172,438	783,181

EXPENDITURE - CHARITA	BLE ACTIVIT	IES (continued)
2022		Unrestricted	Designated	Restricted	Total
		funds F	funds f	fundsf	2022 6
NCEM Promotions		87,409		6,955	94,364
York Early Music Festival Beverley Early Music Festival York Early Music Christmas EEEmerging+ Music4U	Festival	116,896 24,471 57,487 36,616 25,610		650 23,875 17,539 12,680 36,906	117,546 48,346 75,026 49,296 62,516
I Can Play				2,431	2,431
Early Music Research Cultural Commissioning Project NCEM Education Programme NCEM Composers Award York Mystery Plays Archive		18,206 36,973 29,644 1,765		1,910 8,479 5,000 394	20,116 45,452 34,644 2,159
REMA expenses Restricted Property Fund NCEM Young Artists Competition Development Costs Audience Development BBCNew Generation Baroque Ensemble		19,273 17,073 17,427 29,340		56,807	56,807 19,273 17,073 17,427 29,340
		518,190		173,626	691,816
Support costs				2023	2022
				6	6
Premises costs				28,531	26,811
Administration and office costs				243,172	236,104
Insurances				23,131	21,250
Maintenance				54,559	46,687
Governance				6,690	7,015
Depreciation Loss on disposal offixed assets				51,136 537	60,401
				407,756	398,268

EXPENDITURE - CHARITABLE ACTIVITIE	S (continu	ed)
		Total			Total
		2023	f	D/	2022
NCEM Promotions	15.0		61,163	15.0	59,740
York Early Music Festival Beverley Early Music Festival York Early Music Christmas Festival EEEmerging+ Music4U	16.0 3.0 7.0 7.5		65,241 12,233 28,543 30,582	16.0 3.0 7.0 7.5 7,5	63,723 11,948 27,879 29,870 29,870
I Can Play NCEM Education Programme NCEM Composers Award York Minster Mystery Plays Archive NCEM Young Artists Competition BBC New Generation Baroque Ensemble Arts & Health Programme Development Costs	7.5 12.0 7.0 0.5 2.5 8.0 5.0 9.0		30,582 48,930 28,543 2,039 10,194 32,620 20,388 36,698	12.0 7.0 0.5 2.5 8.0 5.0 9.0	47,793 27,879 1,991 9,957 31,861 19,913 35,844
	100.0	407,756		100.0	398,268

is incorpor	ated in Engl	and and Wales. A summa	and and Wales. A summa	ry ofthe trading	results is shown below	:
Summary	statement	ofincome and retained		earnings	2023 E	2022 f
Turnover					100,584	60,170
Cost ofsales					(26,893)	(12,879)
Gross profit					73,691	47,291
Expenses					(11,092)	(11,011)
Net profit Gift Aid					62,599 (62,599)	36,280 (36,280)
Retained	by subsidiary
Intercompany transactions
Rent Gift Aid					10,000 62,599	10,000 36,280
Net profit	from trading	subsidiary			72,599	46,280
The assets and liabilities ofthe subsidiary			are:
Current assets Creditors: amounts falling due within one			year		97,201 (97,200)	80,368 (80,367)
Total net	assets
Aggregate	share capital and reserves

ANALYSIS OF STAFF COSTS
	2023 6	2022 f
Salaries and wages Social security Pension costs	195,782 16,117 26,018	185,492 15,246 24,860
Other benefits	1,500	3,000
	239,417	228,598

Average	number ofemployees
Full time	equivalents

This is stated after charging:
	2023	2022
	6	6
Auditors' remuneration - audit (net) Depreciation oftangible fixed assets (Profit)/loss on disposal oftangible fixed assets Foreign exchange (gains)/losses	3,550 51,136 537 (2,607)	3,550 60,401 (1,780) 464

14.	TANGIBLE FIXEDASS	ETS
	Group and charity	Long leasehold land and buildings f	Instruments f.	Equipment f	Total f
	Cost or valuation At 1 April 2022 Additions	1 539965	91,231	437,475 8,299	2,068,671 8,299
	Disposals			(8,774)	(8,774)
	At 31 March 2023	1,539,965	91,231	437,000	2,068, 196
	Depreciation At 1 April 2022 Charge for year Disposals	178,550 12,320	63,559 1,409	322,840 37,407 (8,237)	564,949 51,136 (8,237)
	At 31 March 2023	190,870	64,968	352,010	607,848
	Net book value At 31 March 2023	1,349,095	26,263	84,990	1,460,348
	At 31 March 2022	1,361,415	27,672	114,635	1,503,722
15.	INVESTMENTS
	Charity				York Early Music
					Enterprises
					Limtted
	Cost
	At 1 April 2022 and 31 March 2023
	Net book value
	At 31 March 2023
	At 31 March 2022

DEBTORS
			2023			2022
		Charity 6		Group 6	Charity 6		Group f
Trade debtors		5,527		13,659	8,756		14,926
Amounts due from trading Prepayments Accrued income	subsidiary	72,598 36,285 16,296		36,285 16,296	46,598 30,439 3,037		30,439 3,037
		130,706		66,240	88,830		48,402

CREDITORS: Amounts	falling du	e within one year
		2023			2022
		Charity 6	Group F	Charity f	Group 6
Trade creditors Other creditors		16,662 3,630	16,936 3,630	32,256 1,090	32,256 1,090
Othertaxes Deferred income (note 18) Accruals		7,860 76,682 7,323	11,223 96,688 8,283	6,841 83,392 5,650	10,826 112,277 6,550
		112,157	136,760	129,229	162,999
DEFERRED INCOME
		2023			2022
		Charity	Group 6	Charity 6	Group 6
Deferred income brought Released in the year Deferred in the year	forward	83,392 (71,133) 64,423	112,277 (99,816) 84,227	32,681 (21,715) 72,426	56,876 (35,941) 91,342
Deferred income carried	forward	76,682	96,688	83,392	112,277

ANALYSIS OF GRO	UP N	ET A	SSETS BY	FUND	FUND
2023				Fixed assets		Net current
				(charity use) 6		assets/(liabilities) f	Total f
Restricted funds					1,453,267	289,839	1,743,106
General unrestricted	fund				7,081	152,682	159,763
Designated funds						175,636	175,636
					1,460,348	618,157	2,078,505
2022				Fixed assets		Net current
				(charity use)		assets/(liabilities) 6	Total f
Restricted funds					1,496,098	293,389	1,789,487
General unrestricted	fund				7,624	119,442	127,066
Designated funds						195,047	195,047
					1,503,722	607,878	2,111,600
ANALYSIS OF CHARITY		FUNDS
2023		At 01.04.2022 6		Income 6	Expenditure	Transfer 6	At 31.03.2023 6
Unrestricted Funds General funds			127,066	695,242	(662,545)		159,763
Designated Funds
Maintenance Funds - General - Musical Instruments City of York ARG York Early Music Festival Legacy		Fund	125,500 22,854 22,200 15,000 9,493	10,000	(22,200) (7,211)		135,500 22,854 15,000 2,282
Total Unrestricted Funds			322,113	705,242	(691,956)		335,399
2022		At 01.04.2021 6		Income f	Expenditure f	Transfer f	At 31.03.2022 6
Unrestricted Funds General funds			124,910	578,078	(575,922)		127,066
Designated Funds
Maintenance Funds - General - Musical Instruments City ofYork ARG York Early Music Festival Legacy		Fund	115,500 22,854 15,000 9,493	10,000 22,200			125,500 22,854 22,200 15,000 9,493
Total Unrestricted Funds			287,757	610,278	(575,922)		322,113

2023	At 01.04.2022	Income f	Expenditure	Transfer 6	At 31.03.2023
Restricted Funds - Fixed Property Fund Capital Grants Fund	Assets 1,361,415 134,683		(12,320) (35,591)	5,080	1,349,095 104,172
Restricted Funds - Other Capital Fund Catalyst Artistic Fund I Can Play (York) John Marvin Fund Beverley E M Festival NCEM Education Fund Mayfield Valley Arts Trust York Early Music Festival EEEmerging+ Arts & Wellbeing Fund IYAC Donation Family Friendly Donation BBCNew Generation Fund IYAC / Young Artists Fund NCEM Promotions Fund	27,961 39,712 10,380 700 11,923 12,757 24,365 93,695 15,844 11,000 9,162 17,233 18,657	3,750 5,900 15,000 688 14,875 10,228 45,801 4,250 2,500 1,250 5,000 13,815 3,000	(10,871) (1,331) (17,331) (1,381) (31,479) (47,434) (3,200) (7,500) (3,000)	(5,080)	26,631 28,841 14,949 700 9,592 12,064 7,761 103,923 14,211 1,050 6,000 10,412 22',233 31,472
Total Restricted Funds	1,789,487	126,057	(172,438)		1,743,106

COMPARATIVE CONSOLIDATED	STATE	MENT OF FINANC	IAL ACTIVITI	ES
	Note	Unrestricted	Designated f	Restricted f	Total
INCOME
Donations &legacies Raising funds Charitable activities		35,250 103,209 432,205	10,000 22,200	13,500 59,455	48,750 113,209 513,860
Investment income Other income		1,021 6,393			1,021 6,393
TOTAL INCOME		578,078	32,200	72 955	683233
EXPENDITURE
Raising funds Charitable activities		57,732 518,190		173,626	57,732 691,816
TOTAL EXPENDITURE		575,922		173,626	749,548
NET INCOME/(EXPENDITURE) FOR THE YEAR		2,156	32,200	(100,671)	(66,315)
FUNDS BROUGHT FORWARD AT
1 APRIL 2021		124,910	162,847	1,890,158	2,177,915
FUNDS CARRIED FORWARD AT
31 MARCH 2022		127,066	195,047	1,789,487	2,111,600


					6
TOTAL INCOME			803,313		669,343
Charitable activities
NCEM Promotions		114,516		94,364
York Early Music Festival		157,999		117,546
Beverly Early Music Festival York Early Music Christmas	Festival	50,355 57,599		48,346 75,026
York Early Music Online Festivals EEEmerging+		22,053 71,519		49,296
BBCNew Generation Baroque Ensemble		35,999		29,340
Music4U				62,516
I Can Play		31,961		2,431
Early Music Research		163
NCEM Education Programme		51,881		45,452
NCEM Composers Award		39,502		34,644
York Mystery Plays Archive		2,263		2,159
REMA Expenses		1,047
Restricted Property Funds		47,912		56,807
NCEM Young Artists Competition		41,023		19,273
Arts & Health Programme		22,258		20,116
Development Costs		17,992		17,073
Audience Development		17,139		17,426
Direct charitable expenditure		783,181		691,815
Raising funds
Marketing and promotion		15,566		17,175
Business development		3,663		5,018
Bar purchases		27,159		17,192
Costs associated with hire of church		6,839		4,458
		53,227		43,843
TOTAL EXPENDITURE			836,408		735,658
NET INCOME/(EXPENDITURE)			(33,095)		(66,315)