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|ended|31stDe|cember 202|0||||
|---|---|---|---|---|---|---|
|||||||Pages|
|Trustees'|annual
report (incorporating||the director's report)|||1to 8|
|Independent
auditor's||report to the members||||9 to12|
|Statement|offinancial|activities (including||income and expenditure|account)|13|
|Statement|offinancial|position||||14|
|Statement|ofcash flows|||||15|
|Notes to|the financial|statements||||16to 24|
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|Reference|and administrative|and administrative|and administrative|and administrative|details|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Registered||charity name||||Leeds International|Pianoforte|Competition||||
|Charity registration|||number|||1073251||||||
|Company|registration|||number||03518157||||||
|Principal|office and registered|||||Piano Competition|Office|||||
|office||||||The University
OfLeeds||||||
|||||||Leeds||||||
|||||||LS29JT||||||
|The trustees||||||Mr EAnderson|||(Resigned|12th November|2020)|
|||||||Baroness Blake ofLeeds CBE||||||
|||||||Mr KBeaty (Chair)||||||
|||||||Mrs FHorsfield JP||||||
|||||||Mr M Jenkins||||||
|||||||SirA Langlands|||(Resigned|12th November|2020)|
|||||||Ms KMcDowell CBE||||||
|||||||Mr JMoulds CBE||||||
|||||||Professor SEBuitendijk|||(Appointed|12th November|2020)|
|||||||Mr C Tait|||(Appointed|10~April 2020)||
|||||||Mr EAppleyard|||(Appointed|5+March 2021)||
|Company|secretary|||||Ms Linda Wellings||||||
|Auditor||||||Sagars Accountants|Ltd|||||
|||||||Chartered
accountants k statutory|||auditor|||
|||||||Gresham House||||||
|||||||5-7StPaul's Street||||||
|||||||Leeds||||||
|||||||LSI 2JG||||||
|Bankers||||||Yorkshire Bank||||||
|||||||94Albion Street||||||
|||||||Leeds||||||
|||||||Ls1 6AG||||||
|Solicitors||||||Lupton Fawcett||||||
|||||||Yorkshire House||||||
|||||||Greek Street||||||
|||||||Leeds||||||
|||||||Lsl 5SX||||||
|Global ambassador||||||Lang Lang||||||
|Artistic director||||||Mr Adam Gatehouse||||||
|Patron||||||Murray Perahia Hon KBE||||||
|Honourable||President||in memoriam||Dame Fanny Waterman||||||
|President||||||The Lord Mayor ofLeeds||||||
|Chief executive||||||Ms Fiona Sinclair||||||
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|The trustees,
who are also the directo
signature ofthe financial
statements|rs for the purpo
were:|se ofcompany|law, an|
|---|---|---|---|
|Mr EAnderson|(Resigned|12+ November|2020)|
|Baroness Blake ofLeeds CBE||||
|Mr KBeaty (Chair)||||
|Mrs FHorsfield JP||||
|Mr M Jenkins||||
|SirA Langlands|(Resigned|12~ November|2020)|
|Ms KMcDowell CBE||||
|Mr JMoulds CBE||||
|Professor SEBuitendijk|(Appointed|12+November|2020)|
|Mr C Tait|(Appointed|10+April 2020)||
|Mr EAppleyard|(Appointed|5+March 2021)||
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|Year ended 31stD|ecem|ber|2020||||||
|---|---|---|---|---|---|---|---|---|
|||||||2020||2019|
||||||Unrestricted|Restricted|||
||||||funds|funds|Total funds|Total funds|
|||||Note|||||
|Income and endowments|||||||||
|Donations
and legacies|||||795,368|5,000|800,368|466,331|
|Charitable
activities|||||22,413||22,413|19,558|
|Total income|||||817,781|5,000|822,781|485,889|
|Expenditure|||||||||
|Expenditure
on raising funds:|||||||||
|Costs ofraising donations||and|legacies|7|(40,075)||(40,075)|(31,719)|
|Expenditure
on charitable|activities|||8,9|(240,788)|(17,346)|(258,134)|(245,807)|
|Total expenditure|||||(280,863)|(17,346)|(298,209)|(277,526)|
|Net losses on investments||||||||(2)|
|Net income and net movement|||in funds||536,918|(12,346)|524,572|208,361|
|Reconciliation
offunds|||||||||
|Total funds brought
forward|||||342,731|42,512|385,243|176,882|
|Total funds carried forward|||||879,649|30,166|909,815|385,243|
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|31stDecember 20|20|||||||
|---|---|---|---|---|---|---|---|
|||||2020||2019||
||||Note|||||
|Fixed assets||||||||
|Tangible fixed assets|||15||4,029||1,123|
|Current
assets||||||||
|Debtors|||16|401,402||6,604||
|Cash at bank and in hand||||513,935||391,484||
|||||915,337||398,088||
|Creditors: amounts|falling due within|||||||
|one year|||17|(9,551)||(13,968)||
|Net current assets|||||905,786||384,120|
|Total assets less current||liabilities|||909,815||385,243|
|Net assets|||||909,815||385,243|
|Funds ofthe charity||||||||
|Restricted funds|||18||30,166||42,512|
|Unrestricted
funds:||||||||
|General fund|||19||679,649||342,731|
|Designated
fund|||19||200,000|||
|Total charity funds|||||909,815||385,243|
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|Year ended 31stDece|mber 2020||||
|---|---|---|---|---|
||||2020|2019|
|Cash flows from operating|activities||||
|Net income|||524,572|208,361|
|Adjustments for:|||||
|Depreciation oftangible fixed|assets||1,426|1,158|
|Net losses on investments||||2|
|Other operating
cash flow adjustment||||(187)|
|Changes in:|||||
|Trade and other debtors|||(399,268)|47,964|
|Trade and other creditors|||53|(55,404)|
|Net cash from operating
activities|||126,783|201,894|
|Cash flows from investing|activities||||
|Purchase oftangible
assets|||(4,332)||
|Net cash used in investing
activities|||(4,332)||
|Net increase in cash and cash equivalents|||122,451|201,894|
|Cash and cash equivalents|at beginning|ofyear|391,484|189,590|
|Cash and cash equivalents|at end ofyear||513,935|391,484|
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||||||Unrestricted|Restricted|Total Funds|
|---|---|---|---|---|---|---|---|
||||||Funds|Funds|2020|
||Donations|||||||
||Donations||||790,129|5,000|795,129|
||Sponsorship|||||||
||Other income||||5,239||5,239|
||||||795,368|5,000|800,368|
||||||Unrestricted|Restricted|Total Funds|
||||||Funds|Funds|2019|
||Donations|||||||
||Donations||||402,196||402,196|
||Sponsorship|||||||
||Other income||||6,935|57,200|64,135|
||||||409,131|57,200|466,331|
|6.|Charitable|activities||||||
||||||Unrestricted|Restricted|Total Funds|
||||||Funds|Funds|2020|
||Marketing|income|||578||578|
||Boxoffice|income||||||
||Application|income|||21,835||21,835|
||||||22,413||22,413|
||||||Unrestricted|Restricted|Total Funds|
||||||Funds|Funds|2019|
||Marketing|income|||19,534||19,534|
||Boxoffice|income|||24||24|
||Application|income||||||
||||||19,558||19,558|
|7.|Costs ofraising donations|||and legacies||||
||||||Unrestricted|Restricted|Total Funds|
||||||Funds|Funds|2020|
||Advertising||||16,485||16,485|
||Other fundraising||costs||217||217|
||Share ofsupport costs (see|||note 10)|23,373||23j373|
||||||40,075||40,075|
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|7.|Costs ofraisin|g d|onations
a|nd legacies (continued)||||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total Funds|
||||||Funds|Funds|2019|
||Advertising||||7,316||7,316|
||Other fundraising||costs||4,907||4,907|
||Share ofsupport||costs (see|note 10)|19,496||19,496|
||||||31,719||31,719|
|8.|Expenditure|on|charitable|activities by fund type||||
||||||Unrestricted|Restricted|Total Funds|
||||||Funds|Funds|2020|
||Governance|costs|||10,928||10,928|
||Other charitable||costs||19,511|17,346|36,857|
||Share ofsupport||costs (see|note 10)|210,349||210,349|
||||||240,788|17,346|258,134|
||||||Unrestricted|Restricted|Total Funds|
||||||Funds|Funds|2019|
||Governance|costs|||13,703||13,703|
||Other charitable||costs||44,309|14,688|58,997|
||Share ofsupport||costs (see|note 10)|173,107||173,107|
||||||231,119|14,688|245,807|
|9.|Expenditure|on|charitable|activities||||
|||||||Total funds|Total funds|
|||||||2020|2019|
||Reception
and hospitality||||||33,037|
||Learning
and|development||||17,346|14,688|
||International|jury|fees|||10,000||
||Prizes, medals and certificates||||||222|
||Streaming
expenses|||||41||
||Piano tuning|and|repairs|||9,470|390|
||Learning
and|engagement|||||10,660|
||Share ofsupport||costs|||210,349|173,107|
||Governance|costs||||10,928|13,703|
|||||||258,134|245,807|
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||||Charitable|||
|---|---|---|---|---|---|
|||Fundraising|Activities|Total 2020|Total 2019|
|Staff costs||21,140|190,265|211,405|157,413|
|General office||1,108|9,971|11,079|17,231|
|Depreciation||143|1,283|1,426|1,158|
|Rent and rates||218|1,961|2,179|2,306|
|Travel and subsistence||338|3,037|3,375|13,692|
|Website development||426|3,832|4,258|803|
|||23,373|210,349|233p722|192,603|
|Governance|costs||10,928|10,928|13,703|
|||23,373|221,277|244,650|206,306|
||Support
costs have been allocated to|Support
costs have been allocated to|Support
costs have been allocated to|charitable|charitable|activities|90% (2019:90%)|90% (2019:90%)|and costs|and costs|of raising|funds|10%(2019:|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||10%),on a|basis consistent with the use ofthose resources.||||||||||||
|11.|Net losses on||investments|||||||||||
|||||||Restricted||Total Funds|||Restricted|Total Funds||
||||||||Funds|2020|||Funds||2019|
||Gains/(losses)||on other investment
assets||||||||(2)||(2)|
|12.|Net income|||||||||||||
||Net income|is stated after charging/(crediting):||||||||||||
||||||||||||2020||2019|
||Depreciation||oftangible fixed assets||||||||1,426||1,158|
||Fees payable||for the audit ofthe financial
statements||||||||4,500||2,843|
|13.|Staff costs|||||||||||||
||The total staff costs and employee benefits for||||the reporting||period|are analysed|as follows|||||
||||||||||||2020||2019|
||Wages and|salaries|||||||||211,405||157,413|
||The average||head count of employees|during|the year was 6 (2019:4). The||||average|number of full-time|||equivalent|
||employees|during the year is analysed||as follows:||||||||||
||||||||||||2020||2019|
||||||||||||No.||No.|
||Number of|staff - Administration|||||||||6||4|
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|15.|Tangible fixed assets|||||
|---|---|---|---|---|---|
|||||Equipment|Total|
||Cost|||||
||At 1stJanuary 2020|||9,366|9,366|
||Additions|||4,332|4,332|
||At 31stDecember 2020|||13,698|13,698|
||Depreciation|||||
||At 1stJanuary 2020|||8,243|8,243|
||Charge for the year|||1,426|1,426|
||At 31stDecember 2020|||9,669|9,669|
||Carrying
amount|||||
||At 31stDecember 2020|||4,029|4,029|
||At 31stDecember 2019|||1,123|1,123|
|16.|Debtors|||||
|||||2020|2019|
||Trade debtors||||1,380|
||Other debtors|||401,402|5,224|
|||||401,402|6,604|
|17.|Creditors: amounts|falling due within|one year|||
|||||2020|2019|
||Trade creditors|||1,333|4,896|
||Accruals and deferred|income||4,502|4,678|
||Social security and other taxes|||3,151|4,394|
||Other creditors|||565||
|||||9,551|13,968|
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|Restricte|d in|come funds||||||
|---|---|---|---|---|---|---|---|
||||||||At|
||||At|1stJanuary|||31stDecember|
|||||2020|Income|Expenditure|2020|
|Learning|and|engagement||42,512|5,000|(17,346)|30,166|
|||||42,512|5,000|(17,346)|30,166|
||||||||At|
||||At|1stJanuary|||31stDecember|
|||||2019|Income|Expenditure|2019|
|Learning|and|engagement|||57,200|(14,688)|42,512|
||||||57,200|(14,688)|42,512|
|||||||At|
|---|---|---|---|---|---|---|
|||At|1stJanuary|||31stDecember|
||||2020|Income|Expenditure|2020|
|General funds|||342,731|617,781|(280,863)|679.649|
|Designated|funds|||200,000||200,000|
||||342,731|817,781|(280.863)|879.649|
|||||||At|
|||At|1stJanuary|||31stDecember|
||||2019|Income|Expenditure|2019|
|General funds|||176,882|428,689|(262,840)|342.731|
|Designated|funds||||||
||||176,882|428,689|(262,840)|342.731|
|||||Total|
|---|---|---|---|---|
|||Unrestricted|Restricted|Funds|
|||Funds|Funds|2020|
|Tangible|fixed assets|4,029||4,029|
|Current|assets|875,620|30,166|905,786|
|Net assets||879,649|30,166|909,815|
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|20.|Analysis|ofnet|assets between|assets between|funds|(continued)|(continued)|(continued)||Restated|Restated|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Unrestricted|Restricted||Total Funds|
|||||||||||Funds|Funds||2019|
||Tangible fixed assets|||||||||1,123|||1,123|
||Current assets|||||||||341,608|42,512||384,120|
||Net assets|||||||||342,731|42,512||385,243|
|21.|Analysis|ofchanges
in net debt||||||||||||
||||||||||At 1 Jan 2020||Cash flows|At|31Dec 2020|
||Cash at bank and in hand|||||||||391,484|122,451||513,935|
|22.|Operating|lease commitments||||||||||||
||The total|future|minimum|lease payments|||under|non-cancellable|operating|leases are as follows:||||
||||||||||||2020||2019|
||Not later than
1||year||||||||776||1,939|
||Later than|1 year and not||later than 5||years|||||1,701||720|
||||||||||||2,477||2,659|
|23.|Related parties|||||||||||||
||Remuneration||ofkey management|||personnel||||||||
||The remuneration||ofkey|management||personnel||is as follows.||||||
||||||||||||2020||2019|
||Aggregate|compensation|||||||||152,668||77,043|
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