PETROS SINGERS
ACCOUNTS FOR YEAR ENDED
31 AUGUST 2025
Registered Charity 1074643
YEAR ENDED 31 AUGUST 2025
ANNUAL REPORT
Petros Singers was registered as a charity by the Charity Commission on 12 March 1999, originally in the name of St. Peter’s Singers.
The charity’s registration number is 1074643.
The principal address of the charity is:
Sam Younger (Treasurer) 28 Rylett Crescent London W12 9RL
The objects of the charity, as stated in the constitution, are:
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to promote, improve, develop and maintain public education in and appreciation of the art and science of choral music in all its aspects by the presentation of public concerts and by such other ways as the Committee shall determine from time to time,
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to promote fellowship, through music, among the members,
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to promote excellence in musical performance, and
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to donate to such charities and of such amounts as the Committee may determine, all or part of any surplus of receipts over expenses arising from any concert or fund-raising event of the Choir.
The activities of the choir during the year started with a very successful workshop based on the Monteverdi Vespers . It was attended by 101 people of whom 81 were not members of the choir. Three concerts were held, one at the end of each term including a performance of Rossini’s Petite Messe Solenelle in St James’s Piccadilly.
The Trustees of the charity are the elected members of the Committee as shown on page 4.
The Trustees of the charity confirm that they have paid due regard to Charity Commission guidance on public benefit. As well as the value of our public concerts in promoting musical education and in particular the appreciation of choral music, a number of specific activities are undertaken to enhance public benefit, as follows:
- Petros Singers offer up to 4 bursaries each year to young people (aged between 16 and 29) for them to get involved in music, to try singing in a chamber choir, to further their musical education, to learn new musical works and to have the opportunity of enjoying singing in a high-quality choir. These bursaries are given by waiving the annual subscriptions and funding up to one voice coaching session per term for beneficiaries who are also given free entry to any workshops that the choir holds.
Two bursary singers remained with the choir throughout the year, another for two terms and one joined in the last term of the year. The value of this in subscriptions waived amounted to £850. A total of 11 singing lessons were funded for bursary students amounting to £440.
- When deemed appropriate, subscriptions are reduced or even waived to support singers who otherwise would not be able to join the choir. The value of subscriptions thus not collected from members who remained active in the choir this year was just £55 because, fortunately, almost all members were able to pay the full rate.
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As in many previous years Petros Singers held an open workshop in October 2024 which was attended by 101 people which far exceeds the number of active members in the choir, 20 of whom took part. These workshops are open to choir members and members of the public.
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At all concerts tickets are offered at a concessionary rate for senior citizens and a special low rate for students/young persons. Similarly students/ young persons are offered low rates at our workshops. This is to ensure as wide a range of people as possible are able to afford to attend our events.
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The choir arranges to take retiring collections in aid of a nominated charity at our concerts. This raised £881 for London Youth Choirs over the year.
Loss for the year
This year shows a net loss of £2,955 which was due mainly to lower ticket sales than hoped for the relatively expensive Rossini concert in March 2025 at St Jame’s Piccadilly and a small audience for the summer concert in June 2025. It should be noted that the ticket revenue shown in this year’s accounts for the Monteverdi workshop does not include £2,052 because that amount was for advance bookings made in the previous accounting year and hence shown in the 2023-2024 accounts.
The core operating costs of the choir, assuming no concerts were to take place, would typically result in a loss. This year that loss was £4,183, very slightly less than in the previous year. The profit of £1,228 from events partially offset this loss, resulting in the net loss of £2,955. This still left the reserves in a very comfortable position to support the choir’s plans for the coming years.
The year-end level of reserves
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The opening bank balance on 1[st] September 2024 was £17,891. The end of year balance was £16,744 on 31st August 2025. These positions are fully reconciled with bank statements. There were no uncleared cheques or invoices needing to be paid.
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The year-end balance included £214 which was held over at the request for the charity, LYC, to whom this amount will be paid in late 2025.
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The PayPal and Stripe accounts which enable the purchase of tickets via the choir’s website had balances of £185 and £231 respectively on 31st August 2025. These funds include ticket payments for events in the following year. They are only transferred to the choir’s bank account once the events have taken place. This ensures that full refunds can be made in the event of cancellation.
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The petty cash balance was £270. This is used to make up the cash floats needed for events.
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During this year no cheques were issued as all payments were made by bank transfer.
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The loss, calculated on a pure cash basis, was £2,955 which reduced the year end reserves available to the choir to £17,216. It should be noted that this does include advance ticket payments of £87 for the concert to be held in December 2025.
Required reserves policy
The reserves consist of the balance in the NatWest bank accounts (the current account and an interest bearing account opened in April 2024), the PayPal and Stripe accounts and petty cash. The lowest value often occurs towards the end of the financial year, which is when the policy on the level of reserves required to maintain the choir as a going concern is reviewed. This year the lowest month-end value of £17,216 occurred at the end of the financial year.
Experience during the pandemic endorsed the approach that charities need to have reserves which would enable them to remain viable for a significant period without external income – in our case from profits attributable to events. Previously this period was assumed to be about 6 months. Current experience suggests that this should be more prudently set closer to one year. Based on recent years this would be about £10,000. Hence, this is deemed to be the minimum level for reserves below which remedial action would need to be taken.
The choir needs to have a further reserve to take the risk of planning concerts which could generate a loss. Based on past experience, such a loss could be £4,000 or more for a large concert with an orchestra and multiple soloists.
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In view of the choir’s charitable status it has been decided to set a level of £17,000 at which point the committee should normally decide how to use any such excess in the context of its charitable objectives and the concert plans for the following 18 months. However, for the concert planned in March 2026 ( The Monteverdi Vespers ) the anticipated loss could be much higher. Hence the need to maintain the level of reserves, which is why £17,216 is deemed prudent.
The trustees regularly monitor the level of reserves, primarily by having the treasurer make a financial report to each of their regular meetings. These are held at least three times during the year.
The outlook for 2025-2026
The loss made in the year still left sufficient reserves at 31[st] August 2025 for the choir to go ahead with confidence that they have the security needed to implement the ambitious programmes planned for 2025-2026 and the succeeding season.
As with all organisations the choir is seeing costs increase in many areas due to the current economic climate. Again, we have increased our annual subscriptions for the coming year by 5.9% i.e. by £15, the same increase as in the previous two years.
Going concern
The trustees of the charity are confident that Petros Singers is in a position to meet all its financial obligations for the 12 month period following the date of the approval of these accounts. Hence, they consider the choir to be a going concern.
By Order of the Trustees:
Frank Althaus - Tickets, David Foster - Admin and Treasurer (until the AGM on 16[th] December 2025) , Jenny Ilderton – Membership, Charlotte Lawrie - Publicity, Laura Mackay – Chair, Caroline Nelson – Secretary and Vice Chair, Jenny Sanderson – Librarian, and Sam Younger – Venue Bookings and Treasurer (following the AGM held on 16[th] December 2025).
Signed on behalf of the trustees on 14[th] June 2026 by: Laura Mackay, Chair ………………………..
STATEMENT OF THE TRUSTEE’S RESPONSIBILITIES IN RESPECT OF THE ACCOUNTS
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In preparing these accounts the Trustees are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether applicable accounting standards have been followed.
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Prepare the accounts on the going concern basis unless it is inappropriate.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy, at any time, the financial position of the Choir. They are also responsible for safeguarding the assets of the Choir and detection of fraud and other irregularities, by establishing and maintaining a satisfactory system of control over the Choir's accounting records, cash holdings and all its receipts and remittances.
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Independent Examiner's Report to the Trustees of
Petros Singers
Year Ended 31 August 2025
I report to the Trustees on my examination of the accounts of Petros Singers for the year ended 31 August 2025 which are set out on pages 6 to 8.
Responsibilities and basis of report
As the Charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 130 of the Charities Act or
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the accounts do not accord with the accounting records
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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 examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed………………………….. Dated 14[th] June 2026
Tracy Hutty FCCA Banks Cooper Associates Limited 21 Marina Court Castle Street Hull HU1 1TJ
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PETROS SINGERS
RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31 AUGUST 2025
| Notes RECEIPTS 1 Event revenue Ticket sales Programme revenue Event sponsorship/donations Total receipts from events Operational revenue Miscellaneous sales Subscriptions Sponsorship/donation (not event) HMRC Gift Aid Bank interest received Total operational receipts TOTAL RECEIPTS PAYMENTS Event costs Venue hire MD, Performer and instrument fees Publicity and printing Ticket agency and other event costs Total event costs Operational costs Rehearsal venue hire Rehearsal MD fees Rehearsal accompanist fees Internet/web fees General marketing Professional fees Making Music – Subs, PRS, & Insurance Charity donations Other operational costs Bad debt write-off Total operational costs |
12 Months 2024-2025 £ 12,683 1,114 1,807 |
12 Months 12 Months 2023-2024 2022-2023 £ £ 16,001 16,853 750 1,270 3,143 1,634 |
|---|---|---|
| 15,604 29 7,165 1,200 1,461 429 |
19,894 19,757 26 6 7,265 7,695 1,055 1,125 1,732 1,768 108 |
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| 10,284 | 10,186 10,594 |
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| 25,888 3,140 8,345 968 1,924 |
30,080 30,351 2,726 2,145 5,465 10,542 1,086 1,423 2,146 2,180 |
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| 14,377 1,230 5,700 3,481 358 514 1,104 1,075 170 834 |
11,423 16,290 1,230 1,080 5,340 5,340 3,620 2,592 258 594 115 320 1,056 960 654 783 86 2 2,109 3,415 40 |
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| 14,466 | 14,468 15,126 |
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| TOTAL PAYMENTS | 28,843 | 25,891 31,416 |
| ANNUAL(DEFICIT)/SURPLUS | (2,955) | 4,189 (1,065) |
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PETROS SINGERS
STATEMENT OF ASSETS AND LIABILITIES AS AT 31 AUGUST 2025
| Notes | 31.08.25 | 31.08.24 | 31.08.23 | |
|---|---|---|---|---|
| £ | £ | £ | ||
| CURRENT ASSETS | ||||
| Cash at bank at end of year | 16,744 | 17,891 | 14,524 | |
| Cash in PayPal at year end | 185 | 517 | 689 | |
| Cash in Stripe at year end | 231 | 1,655 | 1,502 | |
| Petty cash | 270 | 270 | 270 | |
| Less funds held for charity | (214) | (162) | (1,003) | |
| Net assets | 17,216 | 20,171 | 15,982 | |
| RESERVES | ||||
| At start of financial year | 20.171 | 15,982 | 17,047 | |
| (Deficit)/Surplus for year | (2,955) | 4,189 | (1,065) | |
| At 31st August | 2 | 17,216 | 20,171 | 15,982 |
These accounts were approved by the trustees and authorised for issue and signed on their behalf on 14[th] June 2026 by:
...............................................................
Sam Younger Treasurer
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ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2025
NOTES TO THE ACCOUNTS
1. Accounting Policies
All receipts and payments are dealt with on a cash basis and accounted for when receipts and payments arise. Thus, any receipts due and for which invoices have been sent do not contribute to the income of the year. This applies, for example, to invoices sent out for advertising in the programmes of our concerts and which remain unpaid at the end of the year. Any invoices which have been received, and for which we are required to make payment, but the payments have not been completed, are included in the costs for the year.
These policies are applied to ensure that the reported reserves represent the amount actually available.
2. Reserves
The reserves include £87 of advance ticket receipts for the December 2025 concert. The equivalent figure for the previous year was £2,052.
3. Reimbursement of expenses incurred by trustees
The following trustees were reimbursed costs incurred for the choir using their personal accounts:
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Charlotte Lawrie: £434.
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Caroline Nelson: £60
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David Foster: £1,358. Of this amount, £850 was payment of donations collected during this and the previous year for the London Youth Choir and paid via The Big Give.
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Frank Althaus: £267.
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Jenny Sanderson: £211.
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Laura Mackay: £83.
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