THE PARLIAMENT CHOIR Financial Statements for the year ended 31 March 2021 Registered Charity Number 1085042
THE PARUAMENT CHOIR FINANCIALSTATEMENTS FOR YEAR ENDED 31 MARCH 2021 Reference and AdmlnIstrat D•tslls ofthe Charlty Charity Name: The Parliament Choir Charity Registration Number: Ic5042 Contact Address: The Parllament Choir. Portcullis House. London, SWLA 2LW Constitution.. Charty governed by Trust Deed dated 15 February 2001 lamended 18 January 2011, amended and con501idated IS January 2013, amended 25 January 2016. 13 January 2020 and 25 January 20211 Trustees as at date report approved.. Lord Geman Ichairl W15count Brid8eman ITreasurerl Hon Sir Bernard Jenkin MP (Vice Chairl Mark Prisk Lady Heald Hugh Merrill Mary Macleod Michael Switsur Dentse Westbury Haines Anna Yallop Bankers: Metro Bank plc. One Southampton Row, London WCIB SHA Solicitor5: Withers LLP, 16 Old Bailey, London, EC4M 7EG Chief Executive: Choir Secretary: Choir Manager: Anna Yallop Aileen Walker Ire518ned 28 February 20211 Wir8inia Hawkins lappointed 22 January 20211 Music Director: Chorus Master and Composer-in-Residence.' Finance & Accounts.. Simon Over MA FRCO Nlcholas (YNeill MA FRCO David McBTide BA BFP FCA Independent Examlner Stephanie Cle8& Partner, Arnold Hill & Co LLP, Craven House, 16 Northumberland Avenue. London. WC2N SAP
THE PARuAMEr CHOIR RP4Af4ciAL STATEMErs FOR THE YEAR ENt%D 31 PAARCH 2021 TrUSttt Report The Parliament Choir is a charrty governed by a Trust Deed dated 15 February 21 (amended 18January 2011. amended and consolidated 15 January 2013. amended 25 January 2016. 13 January 2020 and 25 January 20211. Under a Mernorandum of Under5tandin8 dated 11 February 2020 the Choir became an autonomous group under the patronage of the Speakers of thetwo Houses of Parliament. The Memorandum is subprt to revbew bnn1ally. The governance of the Choir was reviewed durin8 the year and the constitution was amen(led on 25 January 2021. The Board of Trustees has between three and twehe members comprising the Chair. up to three Wice-chairs, TaSurer and up to seven other members elected at the annual 8eneral meeting. At all times at least one member of the Board of Trustees must be a member of the House of Commons and at least one a member of the House of Lords. The Chair. nornal a Parliamentsrian, is ele¢tedto serve for a threweartenn. renewable once otherthan in exceptional circum5tsnces. The Vicfrchairs and Treasurer are eknted for a term of r0 lon8er than three year5 Other than in exceptional circumstance5. The Board of Trustees may appoint up to four trustees who a not Partiamentarians and in addr(n one or more co- opted members to fill any skill or vacancythat may arise from time to time. Such appointments last until the next Annual Gpneral Meetin& where the appointment of the trustee must be put to the vote of the members of the Charity. Member5 of the Board of Tmstees retire from Offi by rotstn at the end of the annual general meeting three years after the date on which they came into off. but they may be relerted or rè-appointed for one addr(ional tem) other than in exceptional arcumstance5. Nominations forelection to the Board of Trustees must be in the hands of the Chief Executive at least 14 day5 before the annual general meeting. Should nominations exceed vacancies. electbon is ballot. The Trustees meet at least 3 times a year to re4iew the tharitls plans, perfomiance. finan and risk. Day-trday activities a erSeen by the Chief Executive and the Ctr#)ir Manager. The Charity's objects I'the objects-l are: the study and prattice of choral music in order to foster publi¢ knowled8e and appreCIatn of such music by means of public perfomiance 121 the promotion of the art of singing and musi¢ by means of assistance to young 5inger5 and musicians and by the prowsb)n of scholarships Ir5aleS and prizes for singers. Approv•1 has been sought from the Charity Commission to add a third object reflecting the new stakns of the Choir as an autonomous group underthe p*ronage ofthe Speaker5 of the two Houses of Parliament. Trustees have had regard to Charity Commi$5ion 8uthnce on public benefft and ensure that the obiectNes and activit5 of the charity are carried out forthe benefft of the public. The Parliament Choir has an ongoing relaDship with the orchestral a(ademy thbank Sinfonia Ichartty nLtmber: 10924611 which provides the orchestra for most of its concerts. The Choir a150 awarded a grant of £4.lI2020: £8,COJI to the artist development programme at Southbank Sinfonia which supports their young musicians and helps prepare them for a career in music.
THE PAAUAmEP CHOIR HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Tru5tee< Report (a¥ed) At most of the Choirfs performances concert8oersare invited tocontribute to a collection, the proceeds ofwhich go either in full towards the chariVs WO supportin8 youn8 musicians or. rf another 1¢yant tharty is irNofved in the event. are split between the organisations. The Choirtries to ensure that its PerfOrnnceS are assIble to those on krer incomes and sets entry level ticket prices accordin8ty. Members of the Choir are encouraged to donate tickets to enable music Students to attend the Choirfs concerts free of char8e. A¢hle¥em•nts and Perlormance In common with other performing arts organisations. the Cholrfs aLi¥itres durirq 20221 were curtalled bythe Covid-19 pandemic and rehearsals had to move online. A concert of opera Choru and an ambltlous perfornHn¢e of Bath's PAass in B Mlnor. both of whlch We due to tske place in the Queen Elizabeth Hall at the South Bank Centre in London, were cancelled. The plan to perforni El8arfs Dreom of Gerontius at the Vatlcan followin8 the pmious yearf5 successful performances at Cmntry and Westmln5ter Cathedrals had to be postponed. The partial liftin8 of Testrirtiofts allowed the Choir to sta8e a Ilmlted, soclalfy dlstsnced. Chrlstmas Carol concert at St John's Smlth Square In aid of Shelter. This was made available for viewing online. The plan for 2021-22 Include5 a perforniance of Bach's Moss in 8 Minw and the annual Chrlstmas Carol concert at St. John's Smith Square. Fundraisin8 to cover the costs of perFomiin8 El8arfs Dreom of Gervntius at the Vatlcan wlll be a 518nificant activty, with the aim of indudin8this event In the 2022-23 programme. The Choir has also been invlted to tske part in a Christmas concert wlth the Parliament Chobr of Sky4enia, which is now planned for December 2022. Flnancl41 Revlew Income and expendlture In a pwtbcular year Is normally dependent on the number and scale of the concerts the Cholr organ12es. In the year to 31 March 2021 this was afferted ty the d-19 pandemlc and the Cho4r took part In just one concert12020.. four) which it organi5ed12020: three). A 8oveman¢e review was conducted durin8 theyear and the Choirfs website moved to the Makin8 MUSK platfomi. These changes in the mix of activities have affected the apportionment of support Costs in the financial statements with a higher proportion bein8 all¢¥cated to govemance than in prevlous years. The charit(s exce of e¥pendbture over income for the iar was £15.03112020: deficlt £3.3141.1ts unrestrlcted reserve5 at the yearnd were £78.40812020: £94.$011. Its restricted reseThes were £1.06212020: ÉNIII. The Charity seeks donatbons and sponsorship from a wide re of sourcesto support the ambltbus concerts It produces. It is particulady dependent on sponsorship and donat*)ns when It is responsible for staging national events as part of its public role. It continues to recrurt to its Frlends xheme to build a stream of income to support its re8ular operatin8 Wsts. The Choir was left a piano in the will of Caroline Robert50n a popular and mu¢h-missed member. The trustees wlsh to place on record their gratitude to her. both for her 8enerostty and for rememberin8 the Choir in thi5 way. Rlsk manaiement and reser¥e5 POIILV Part of the Choirfs public role is to sta8e mapr n•tnal erfents such as Parliamenvs Armistice Centenary commemoration in Westmlnster Hall, butthe5e are expensive and carry significant risks. The trustee5 are cons¢Kius of the need to manage the risksto which the charity is exposed andtheseare Teguladyconsidered at thÈirmeetin8s. T1r risk mitigation strategy includes seekin8 Opportunities to take part in collaborative events and staging exciting and musically ambitious concerts to in¢rease the Choirfs audience. The trurtees aim to increase the charitvs re5er¥e5 to prtr¥ide better protectlon against the risks it faces and ensure it remains on a sound financial footin& d Gemian- Chair Date.. IW January 2022
THE PARUAMENT CHOIR FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021 Independent Examlnerfs report to the trustees of the Parllament Cholr I report on the financial statements of The Parliament Choir (the"Chari) for the year ended 31 March 2021 which are set out on pages 6 to 13. Respertlve re5ponslbllltles of trwtees and examlner As the Charity's trustees, you are responsible forthe preparation of the financial statements. you consider that the audit requirement of $144121 of the Charities Act 2011 Ithe Act) d¢)es not apply. It is my responsibility to examine the financial statements undèr section 145 of the 2011 Act and to State. on the basis of procedures specified in the General Direttions gr¥en by the Charty Commissioners under s14515llbl of the Act, whether particular matters have come to my attention. Basls of Independent examlnef'5 report My examination was carried out in accordance with the General Directions given by the CharSty Commissioners. An examination includes a revlew of the accounting record5 kept bythe Charityand a comparison of the financial statements presented with those records. It also includes consideration of any unusual item5 or disclosures in the financial statèments, and the seeking of explanations from you as trustee5 concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and. consequent, no opinion 15 Biven as to whether the financial statements present a'true and fair viev/ and the report is limited to those matters set out in the statement below. Independert examlnÈrs' ststement In ConneCtn with my examination, no matter has come to my attention: 111 whith Blves me reasonable cause to believe tha¢ in any material re5pett: the accounting records were not kept in accordance with section 130 of the Charlties Act- or the accounts did not accord with the accounting record5; or the accounts did not Compty with the applicable requirements concerning the form and content of accounts set out in the Charities Regulations 21))8 other than any requirement that the accounts Bive a 'true and fail view which is not a matter considered as part of an independent examination. 121 to which, in my opinion. attention should be drawn in order to enable a proper understandin8 of the financial statements to be reached. The rapid and flui(i development of the COVID-19 vlms and its impact on the 8lobal economy and businesses around the world las explained in the Direttors, Report). indicate the existence of uncertainty which may cast doubt about the charitS ability to wntinue as a going concern. The financial ststements do not include the adjustments that would result rf the charity was unable to continue a5 a going concern. Stephanle Clegg Arnold HS11 & Co LLP Chartered Accountants and Registered Audltors Craven House 16 Northumbedand Avenue London WC2N SAP Date". 1810112022
THE PARUAMENT CHOIR H14ANCIAL STATEMENTS FOR THE YEAR E14DE0 31 MARCH 2021 Statement ol FInancl Actlvltte5 for the year ended 31 March 2021 2021 2021 2021 2020 2020 Totsl In¢¢)m• and •ndOwTrts from: Donatlon5lGrants Charltsble Artivlties Othertradlng actfvltles Investmtnts 15,491 21,229 3,081 18,572 21,229 34,941 79.929 8.369 43,310 79,929 21 149 149 Totsl 36.741 3AI81 IZ4M9 135.068 Exp•ndltur• on: Ralsln8 Funds Charltable actlvltbt5 1,311 53,467 1,311 53,542 6,010 117,153 6,010 130.372 75 13,219 Total 54,778 75 $4853 123.163 13,219 136.382 14•t I11111•9Il 1110371 115,0311 1,536 14JlXII 13.3141 Tr•nsl•Tr botw••n luh 14 L944 11.9MI 1140951 LiYA 115,0311 1.536 13,3141 Rq¢ondllrtlon 01 fvnds.. Total funds brou8htforward 94,501 94,501 92,965 4.850 97.815 Tot•1 fvnthcwrl•d fvrw•rd 79A70 94.501 yjoi There were no other reco8nlsed 8ains or losses other than the net surpluslldeficltl Included In the Statement of Flnanclal Artlvltle5. The notes on pages 8 to 13 fom part of these financial statements.
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR YEAR ENDED 31 MAROI 2021 8•lance Sheet a5 at 31 Mar¢h 2021 1021 2020 Flxed Assets Instruments and performance equipment Totsl fixed ass•ts Debtors Cash at bank and In hand io 9,666 74,823 14.360 80,861 Total ¢urrent •ss•ts B4,489 95,221 Uabllltbes Credltors: Amounts fallln8 due wlthln one year li 7,019 720 7A119 710 Net ¢urr•nt Il•bllFtI•s 77.470 94,501 Total ass•ts less current Il•bllltl•s *nd totsl net assets 79N70 Y,501 The funds ofthe tharlty Restricted funds unStrICted funds 1,062 78.408 94,501 Total chartty funds 79A70 94,501 The nanclal ststements were approved by the Trustees on ip January 2022 and were s18ned on thelr behaw bv.. Lor Germ Chalr The notes on pa8es 8 to 13 form part of these financial statements.
THE PARUAMENT CHOIR FINANCIAL STATEMENfs FOR THE YEAR ENDED 31 klARCH 2020 Notes to the Accounts i) A¢countln8 Poll¢les l) The 8asis of the Prepamtlon of Accounts The accounts have been prepared under the historical cost convention and on an accruals basis. The account5 have been prepared in accordan with: Charities SORP IFRS 1021, 8overnin8 accounting practices for charltles The Charities Act 2011 The Charlty Is a public benefit entity under FRS 102. The accounts are prepared In sterlin8 which is the functlonal currency of the charV. Monetsry amounts In these flnancial statements are rounded to the nearest pound. 11) Incoming Resources Incomln8 resources are re¢o8nlsed as follows: Performance fees, tlcket Income and programme Income.. In the perlod In whlch the perforniance takes place Membership 5ubs¢ription payments.. in the period in which the payment becomes due IsubscrSption payment perlods run from l April each yearl Oonatlons- In the perknd in which the donatlon Is recelved. Where the proceeds from llectIonS at concerts are split wSth other charities, the amount due to other charities is not recognised as income ol the charlty. Swnsorship payments.. in the perlod In whlch the payment become5 due, provided the charity IS sufflcientlv Certaln of receipt of the bgreed amount Study day fees.. In the perlod In whlch the study day rehearsal tskes place (not the perlod when the asso¢lated performance occurs, whlch may be dlfferentl Sale of music scores to Choir member5: in the period in which the sale take5 place (not the perlod In whlch the 3ss¢xiated performance, if any, occurs, whlch may be differentl Gfft Aid.. In the period in which the assoclated donation 15 received, pmlded the Cholrls sufficiently certaln that the donation fulflls all of the necessary requirements for a 81ft ald claim to be submltted In due course Illj Resources Expended Resource5 expended are reco8nlsed as follows: Perfomiance costs: In the perlod in which the performance tskes place, provided the cost is related to the concert day itself and cannot be considered an activity Sn Its own rlght leg. a rehearsal or study dayl Rehearsal and study day cost5: in the period in whlch the rehearsal or study day takes place (not when the associated perfomiance take5 place, which may be differentl Fees to muslc and administration staff: the perlod in which the work takes plao Ipald In arrears) Finan and accountin8fees: the perlod in which the work takes pla Indèpendent Examinerfs Remuneration: the period to which the work relates Support costs.. the period to which the expenditure relates- thi5 will usually be the perlod In which the expenditure takes place Grants awarded.. as soon zs z construrtwe obll8atlon 15 deemed to exist to make the award in a future period
THE PARLIAMENT CHOIR FINANCIAL STATEMEiifs FOR THE YEAR ENDEO 31 MAR(112021 Notesto the A¢counts lcontj Support costs are apportioned across the a¢ti¥ities asfollows: Administration fees and 8eneral office expenses: on the basis of the time spent by the Choir SecretarylMana8er on each acti¥lty Governance costs are apportioned across the actmties a5 follow5: Proportion of direct expenditure on each activtty iv) A55ets Pollcy Fixed assets which provide an on80in8 benefrt to the charity are caprtalised at their c05t value and depreciated according to the estimated useful lifetime of the as5rt taken to be: Instruments and perfomance equipment 6 years v) Restrkted ond UnrestfktedFunds Restricted funds are to be used for specific purposes as laid down by the donor. Unrestrlcted funds are 8eneral fvnds available for use In acc¢rdance wrth the charitable objects at the dlscretlon of the Trustees. VIJ Finonclal Instruments As per Ffts 102 Sectlon 11. the charity makes use of only basic finandal instruments whith are Inltlalfy recognlsed at transactlon value and Subsequent measured at settlement value. Financi•l Instruments held by the entity comprise debtors, creditor5 and cash. vll) Taxation No provision has been made fortaxation as The Parliament ChoSr is a publ1¢ benefft entlty whlch Is exempt from UK direct taxation on bts charrtable artNities. vili} Goinq Concern The Trustees have reasonable expectation that the charity has •deqtsate resources to continue in operational existence for the foreseeable future. The Trustee5 continue to monr¢orthe Impatt of COVID-19 and potential implications on future operations. Thus they continue to adopt the goin8 concem basis in preparin8 the annual financial ststements. 2021 I nCert 2020 3 concerts Membership subscriptions Performance feesrficket inccrfne Study days Music Scores/Red folder sa$ Totsl 20,299 930 23.671 S2,2 1,450 21229 79.929
THE PARUAMENT CHOIR ANANCIAL STATEMEffft FOR YEAR ENDED 31 MARCH 2021 14otes to the Accounts IaxrtJ 31 R•lslni lunds 2020 Ilote 3,550 2,292 168 6,010 Direct costs Support costs Governance costs Totsl 1.311 1311 41 2020 Musical perfomwnces Supporting young musicians MusKal perfomiances Supportln8 voun8 musSclans Totsl Direct costs Grant-makln8 Support cost5 Governance wsts Totsl 38.473 38A73 108.834 108,8a4 3,849 6,S40 3A49 7220 8.020 5,140 1,994 8,020 5,518 130.371 378 8J78 51 2021 zozo Grant to SoLrthbank Sinfonia Totsl 6) 2021 Administration fees and nses 349 1.311 2,650 7.810 Totsl AdminIstratn fees and Tot*1 ex nses Charitable Artlvltles.. Musical PerfonnarKes Raising funds Govem?nce Total 8,020 2.292 1,146 11.458 1.311 2.650 710 2,292 1.146 IIN58 io
THE PARUAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Notesto the A¢Unts (contlnuedj 71 20ZI 6,540 2020 5,140 378 Charitable a¢tivitles: muslcal performances Charitable activities: supporting young musicians Raising funds Totsl 7.220 81 N•t Incomellexpendlturnl Net Incomellexpendlturel Ss stated after charglng.. 2021 2020 Accountancy fees Independent Examlnerfs Remuneratlon De reciation Total 720 940 4,720 91 Flxed Assets 2021 Instruments and performance ul ment 2020 Tot•1 Instruments and performance m•nt Tot•1 Cost orvalu•tlon At be8lnnlng of the year Addttions At end ofthe 2,400 Deprncl•tlon At beginning of the year Depreciation At end of the 4LKI Net book wlue at nnlni of the Net book value at end of the year li
THE PARUAMEP4T CHOIR NANaALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2020 Notss to the xcounts (contlnuedj ioi zozi S,652 4,014 2020 9,164 5,196 14,360 Other debtors Prepayments Total ii) Credlto 2021 2020 720 Accruals Income rttelved In advance Total 5,535 7,019 720 An•lys1s of R•strlcted Funds B•l•nce at l Aprll 20x1 Incom• Exp•ndlturn Trnnsfers between funds 11.944) 11,9441 alan¢e •t 31 Mawch 2021 Plano Fund 3,081 3,081 75 75 1.062 Balance at l Apdl 2019 Income Exp•ndlturn Trnnsf• b•tween lunds 8•l•nce at 31 Mar¢h 2020 Young Muslclans, Fund Guards, Chapel concert Dream of Gerontius concerts 3,139 3,139 4,850 4.850 4,230 8,369 13,219 Note 14 131 Analysls of Charlty Funds Balan at rll 2020 Incom• Expendlture Trnnsfers betw•en funds 11,9441 Balance t 31 March 2021 1.062 78.408 79,470 Restricted Funds Unrestritted Funds 3,081 36,741 39,822 75 54,778 54053 94,501 94.501 O•l•n¢e at l Aprll 2019 4.850 92,965 971$ Income Expendlture Transfer¥ between lunds Bal•nce •1 31 March 20ZO Restricted Funds Unrestricted Funds 8,369 124.699 133,068 13,219 123,163 136.382 94.501 94.501 Nots 14 12
THE PARUAMENT CHOIR RNANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 r40tss to the Accounts (¢ontlnuedJ 141 Tr•nsfers between funds Durin8 the year the Choirw8s bequeathed a piano by Caroline ROrtSOn. This is Included under donations and as fixed asset in the unrestricted funds of the Charitv. An appeal for a Piano Fund to cover the costs of refurblshment, delNery and f4rture maintenance raised £3,081 and is included under donations in the restricted funds of the chartty. The costs of refurbishment and delNery before the piano wa5 brou8ht into Use amourrted to £1.944. These costs have been transferred from the restricted Piano Fund to the Un$tritte funds of the Charity and capitali5ed under fixed assets as part of the fair value of the piano. 151 Trustees The total amount of expenses relmbursed to Trustees in the year was £Nil12020= £9321 Membership subscriptions and ticket sales made toTrustees were on the same basis as to other members of the Choir. None of the Trustees reIved any remuneration12020- £NIII. 161 Related partytran5artlons The aggregate amount of donations received from trustees and reLated parties durin8 the yearwas £3,05012020: £13,8601. No conditions were attached to these donations. There were no addr(ional related party transactions other than those disclosed in the Trustees note above. 171 Employees The charity has no employee$12020.. Nill 13