THE PARLIAMENT CHOIR
Trustees ’ Annual report and Financial Statements For the year ended 31 March 2024
Registered Charity Number 1085042
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THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Reference and Administrative Details of the Charity
Charity Name: The Parliament Choir
Charity Registration Number: 1085042 Contact Address: 4-17 Millbank House, 1 Millbank, House of Lords, London, SW1P 3LX. Constitution: Charity governed by Trust Deed dated 15 February 2001 (amended 18 January 2011, amended and consolidated 15 January 2013, amended 25 January 2016, 13 January 2020 and 25 January 2021)
Trustees as at date report approved: Lord German OBE (Chair) Mary Macleod (Vice Chair) Hugh Merrill MVO (Vice Chair) Baroness Hayman of Ullock Sir Bernard Jenkin MP Michael Switsur Lesley Titcomb CBE Anna Yallop
Trustees who resigned after the year end: Rt Hon Sir Oliver Heald KC MP (resigned 14[th] May 2024) Baroness Jolly (Treasurer) (resigned 31st July 2024)
Bankers:
Metro Bank plc, One Southampton Row, London WC1B 5HA
Solicitors: Withers LLP, Third Floor, 20 Old Bailey, London, EC4M 7AN
Chief Executive: Anna Yallop Choir Manager: Virginia Hawkins Music Director: Simon Over MA FRCO Chorus Master and Composer-in-Residence: Nicholas O ’ Neill MA FRCO Finance & Accounts: David McBride BA BFP FCA
Independent Examiner Jane Spencer-Davis BA FCCA CTA , Spencer-Davis & Co., 4 - 6 Peterborough Road, Harrow, HA1 2BQ
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THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Trustees ’ Report
Structure, Governance and Management
The Parliament Choir is a charity governed by a Trust Deed dated 15 February 2001 (amended 18 January 2011, amended and consolidated 15 January 2013, amended 25 January 2016, 13 January 2020 and 25 January 2021).
Under a Memorandum of Understanding dated 11 February 2020 the Choir became an autonomous group under the patronage of the Speakers of the two Houses of Parliament. The Memorandum is subject to review biennially.
The Board of Trustees has between three and twelve members comprising the Chair, up to three Vice-Chairs, Treasurer and up to seven other members elected at the annual general 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, normally a Parliamentarian, is elected to serve for a three-year term, renewable once other than in exceptional circumstances. The Vice-Chairs and Treasurer are elected for a term of no longer than three years other than in exceptional circumstances.
The Board of Trustees may appoint up to four trustees who are not Parliamentarians and in addition one or more coopted members to fill any skill or vacancy that may arise from time to time. Such appointments last until the next Annual General Meeting, where the appointment of the trustee must be put to the vote of the members of the Charity.
Members of the Board of Trustees retire from office by rotation at the end of the annual general meeting three years after the date on which they came into office, but they may be re-elected or re-appointed for one additional term other than in exceptional circumstances.
Nominations for election to the Board of Trustees must be in the hands of the Chief Executive at least 14 days before the annual general meeting. Should nominations exceed vacancies, election is by ballot.
The Trustees meet at least 3 times a year to review the charity ’ s plans, performance, finance and risk.
Day-to-day activities are overseen by the Chief Executive and the Choir Manager.
Objectives and Activities
The Charity's objects ("the objects") are:
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(1) the study and practice of choral music in order to foster public knowledge and appreciation of such music by means of public performance.
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(2) the promotion of the art of singing and music by means of assistance to young singers and musicians and by the provision of scholarships bursaries and prizes for singers.
Approval was sought from the Charity Commission in 2021 to add a third object reflecting the new status of the Choir as an autonomous group under the patronage of the Speakers of the two Houses of Parliament. The Charity Commission ’ s response is awaited.
The Trustees have had regard to Charity Commission guidance on public benefit and ensure that the objectives and activities of the charity are carried out for the benefit of the public.
The Parliament Choir has an ongoing relationship with the orchestral academy Southbank Sinfonia (charity number: 1092461) which provides the orchestra for most of its concerts.
At most of the Choir ’ s performances concertgoers are invited to contribute to a collection, the proceeds of which go either in full towards the charity ’ s work supporting young musicians or, if another relevant charity is involved in the event, are split between the organisations.
The Choir tries to ensure that its performances are accessible to those on lower incomes and sets entry level ticket prices accordingly. Members of the Choir are encouraged to donate tickets to enable music students to attend the Choir ’ s concerts free of charge.
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THE PARLIAMENT CHOIR Fif4ANaAL STATEMENTS FIXI ThE YEAR ENDED 31 MARCH 2024 Trustee< Report lcortlnued) hievernenty Performance and Future Plans The centrepiece of the Cholfs programme was the long afflicipatcd performame in April of El8arfs The Dream ol GerontlU5 in the Vatican at the Basilica of St Paul Outslde the Walls. Thi5 vfd5 d major ev(•nt fi)f the choir and was part ot its public role of representlng the UK Parllannt by undertaking inleinational cultural event The Choir ako pÈrfomied Elearfs The nrpam of Geron;ius at Srnith Square Hall Ifomierly SL John's Smith uare) in London, where 11 rcturned in June for a perfoan of Hondel's Messloh and again for its Christmas carol concert in Decernber. In November the Cholr pertormed the Rachinaninoff Vespers at Coventry C3thedral and Southwark Cathedral. 2Q24-25 will see the C1T celebrate its 25" Anniversary with a perfonrance of BeetVen'5 Missa Solemnis at the Royal Festival Hall. In Nowember we wlll return to Smith Square for a perfomiance of Handel's Messjoh which will take place instead of our normal Christmas (arol concert. Financlal Revlew Income and experidiLure (an vary sienifKJJntly from year to ycar. depending on the number aj Xdle uf the rnncert5 the Choir organizes. In the year to 31 March 2024 the Choir touk part in six concerts {2023: six) of which it organised four (2023: four). The charit<s excess of expenditurc over Income for the year was £8.388 (2021: excess of Income aver expendlture £2,4Ubl, Its unrestricted reserves at the year-end were £46.274 {2U23: £45.949Tr. Its restrirted resetves Vre £12.915 12023: £21.6281, The charity seeks donations and sponsorship frDm a wide range of Sntsrees to support the ambitlous coricerts it proouces. It 15 partlctjlarly dependeFiI on sponsorship ar donation5 when it is responsible for 5ta811 national events and undertakin8 internat&onal cultural exchange5 as part of its publlc fole. All donations, granis and 5ponsufship arp rnnsidered tor appropriateness by the trUStee5 to ensure ihere are no ethical concern5 01 coI)fliCts of interest which mi8hi prcvent the Choir frorn eptIng trn. Thp %nurce of all donalions. grants and spor)rship are reported to The Spea ker and Lord Sae.r annually. The C11T continues to recruSt for Its FrieDd5 scheme to build a stream of incofne lu support its regular operating costs. The Choir receives no PUbC funding. Risk mati3gernert and re5eYves pollcy Part of the Ckivii's public role is to stage major national events such as Parllament's Arm15l1 Centenary tC•mmemorntlDn in Westmirt%ter Hall and to undertake IniernatiDn411 iuliural exchanges such a% rts concerts at the Bundesiag In Berlin, Notre Uame in Parys and the Vatican. These are expensive and carry significant risks but the Choir does not Cofnmit to undertaking them until enough finantial support has been commftted. The trustees ére consciou5 of the npe.d to managc the risks to which the charity is cxposed and these are re8ularly coiv)Klered at their meetings. Their risk mitigation Strategy inc5udes seeking opportunities io take part iii cullaborativp Èvents and staging exciting and musically i4rribllious concerts to increase the cl115 audience. The tnistees aim to Increase Ihe charlty's reserves lu provide bpttè.r protection against Ihe risks it faces and ensure it remains on a sound financlal tootin8. Lord German Chair Date: 21P January 2025 Page4of15
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF TRUSTEES ’ RESPONSIBILITIES
The trustees, are responsible for preparing the annual report and the financial statement in accordance with applicable law and regulations.
Charity law requires the trustees to prepare financial statements for each financial year. Under that law the trustees elected to prepare the financial statement in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of allocation of resources, including the income and expenditure of the charity for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity ’ s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. Trustees are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Independent Examlner's report to the trustees of The Parllament Choir I report to the trustees on my examination of the financial statements of The Parliament Choir I'the charity,) forthe year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely to the charity's trustees, as a body, In accordance with section 145 of the Charities Act 2011. Our work has been undertaken so that we mi8ht state to the charity's trustees those matters we are required to state to them in an independent examinels report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charlty and the charity's trustees as a body, for our work, for this report, or for the opinions we have formed. Responsibilitles and basis of report As the trustees of the charitv vou are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act), I report in respect of my examination of the charity's financlal statement5 carried out under section 145 of the 2011 Act and in carrylng out my examination I have followed all the applicable Directions given by the Charity Commission under sectlon 14515llbl of the Act. Independent examlnerfs statement I have completed my examination. I confirm that no matters have come to my attentlon In connectlon wlth examlnation 8ivin8 me cause to believe that in any material respect: accountlng records were not kept in respett of the charlty as requlred by sectlon 130 of the 2011 Act; or the financial statement5 do not accord with those records; or I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understandin8 of the financial statements to be reached. lane Spencer avis BA FCCA cfA Spencer-Davls & Co. Chartered Certified Accountants & Chartered Tax Advisers 4 - 6 Peterborough Road, Harrow, HAI 2BQ Date: 201h January 2025 Page 6 of 15
THE PARLIAMENT CHOIR
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Statement of Financial Activities for the year ended 31 March 2024
| Notes | 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | |
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
| Funds | Funds | Funds | Funds | Funds | Funds | ||
| Income and endowments | |||||||
| from: | |||||||
| Donations/Grants | 21,170 | 67,225 | 88,395 | 19,668 | 33,092 | 52,760 | |
| Charitable Activities | 2 | 47,488 | - | 47,488 | 61,807 | - | 61,807 |
| Other trading activities | 4,467 | - | 4,467 | 492 | - | 492 | |
| Investments | 125 | - | 125 | 6 | - | 6 | |
| Total | 73,250 | 67,225 | 140,475 | 81,973 | 33,092 | 115,065 | |
| Expenditure on: | |||||||
| Raising Funds | 3 | 8,907 | - | 8,907 | 5,527 | - | 5,527 |
| Charitable activities | 4,5 | 64,018 | 75,938 | 139,956 | 94,436 | 12,696 | 107,132 |
| Total | 72,925 | 75,938 | 148,863 | 99,963 | 12,696 | 112,659 | |
| Net income/(expenditure) | |||||||
| & Net movement in funds | 325 | (8,713) | (8,388) | (17,990) | 20,396 | 2,406 | |
| Reconciliation of funds: | |||||||
| Total funds brought forward | 45,949 | 21,628 | 67,577 | 63,939 | 1,232 | 65,171 | |
| Total funds carried forward | 46,274 | 12,915 | 59,189 | 45,949 | 21,628 | 67,577 |
There were no other recognised gains or losses other than the net surplus/(deficit) included in the Statement of Financial Activities.
The notes on pages 9 to 15 form part of these financial statements.
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THE PARLIAMEKf CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IMRCH 2024 Balan Shevt as at 31 March 2024 Notes 1024 2023 Flxed Assets Instruments and performance equipment 1,200 Total fixed as%•ts Debtors Cash at bank and in hand io 23,834 69,779 12,Jitb Total current assets 93,613 67,947 Liabilities Creditors: Amounts falling due within one year li 35,224 1.570 35224 1,570 Net current liabilitles 58,389 Total assets less current Ilabllltlqs and iotal net assets 59,189 67,577 The fvnds ol the charlty Rcstrictcd funds UnrestriLtp.d funds 12,13 13 12.915 46.274 21,628 Totsl charlty funds 59,L89 67.577 The* financial statoments were approved by the Trnslees on 2cP January 2025 and were sisned on their behalf by: Lord Gern Chair Tp iK)Les oli Pdges 9 to 15 form Pdrt of tliese financial statements. Page8of15
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Notes to the Accounts
1) Accounting Policies
i) The Basis of Preparation of Accounts
The financial statements have been prepared in accordance with the charity's Trust Deeds, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
ii) Incoming Resources
Incoming resources are recognised as follows:
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Performance fees, ticket income and programme income: in the period in which the performance takes place
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Membership subscription payments: in the period in which the payment becomes due (subscription payment periods run from 1 April each year)
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Donations: in the period in which the donation is received. Where the proceeds from collections at concerts are split with other charities, the amount due to other charities is not recognised as income of the charity.
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Sponsorship payments: in the period in which the payment becomes due, provided the charity is sufficiently certain of receipt of the agreed amount
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Study day fees: in the period in which the study day rehearsal takes place (not the period when the associated performance occurs, which may be different)
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Sale of music scores to Choir members: in the period in which the sale takes place (not the period in which the associated performance, if any, occurs, which may be different)
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Gift Aid: in the period in which the associated donation is received, provided the Choir is sufficiently certain that the donation fulfils all of the necessary requirements for a gift aid claim to be submitted in due course
iii) Resources Expended
Resources expended are recognised as follows:
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Performance costs: in the period in which the performance takes place, provided the cost is related to the concert day itself and cannot be considered an activity in its own right (eg. a rehearsal or study day)
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Rehearsal and study day costs: in the period in which the rehearsal or study day takes place (not when the associated performance takes place, which may be different)
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Fees to music and administration staff: the period in which the work takes place (paid in arrears)
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THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Notes to the Accounts (continued)
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Finance and accounting fees: the period in which the work takes place
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Independent Examiner ’ s Remuneration: the period to which the work relates
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–
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Support costs: the period to which the expenditure relates this will usually be the period in which the expenditure takes place
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Grants awarded: as soon as a constructive obligation is deemed to exist to make the award in a future period
Support costs are apportioned across the activities as follows:
- Administration fees and general office expenses: on the basis of the time spent by the Choir Secretary/Manager on each activity
Governance costs are apportioned across the activities as follows:
- Proportion of direct expenditure on each activity
iv) Assets Policy
Fixed assets which provide an ongoing benefit to the charity are capitalised at their cost value and depreciated according to the estimated useful lifetime of the asset, taken to be:
- Instruments and performance equipment
6 years
v) Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
vi) Restricted and Unrestricted Funds
Restricted funds are to be used for specific purposes as laid down by the donor.
Unrestricted funds are general funds available for use in accordance with the charitable objects at the discretion of the Trustees.
vii) Financial Instruments
As per FRS 102 Section 11, the charity makes use of only basic financial instruments which are initially recognised at transaction value and subsequently measured at settlement value. Financial instruments held by the entity comprise debtors, creditors and cash.
viii) Taxation
No provision has been made for taxation as The Parliament Choir is a public benefit entity which is exempt from UK direct taxation on its charitable activities.
ix) Going Concern
The Trustees have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees continue to monitor the impact of COVID-19 and potential implications on future operations. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
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THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Notes to the Accounts (continued)
2) Analysis of income from charitable activities
----- Start of picture text -----
2024 2023
4 concerts 4 concerts
Membership subscriptions 18,404 19,062
Performance fees/Ticket income 23,472 25,451
Study days 988 12,438
Music Scores/Red folder sales 4,476 1,791
Miscellaneous 148 3,065
Total 47,488 61,807
----- End of picture text -----
3) Raising funds
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2024 2023 Note
Direct costs 5,251 2,128
Support costs 3,405 3,221 6
Governance costs 251 178 7
Total 8,907 5,527
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4) Charitable activities
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2024 2023 Note
Musical Supporting Total Musical Supporting Total
performances young performances young
musicians musicians
Direct costs 122,209 - 122,209 89,361 - 89,361
Grant-making - - - - 600 600 5
Support costs 11,916 - 11,916 9,664 - 9,664 6
Governance costs 5,831 - 5,831 7,457 50 7,507 7
Total 139,956 - 139,956 106,482 650 107,132
----- End of picture text -----
5) Grant-making activities
----- Start of picture text -----
2024 2023
Bursaries - 600
Total - 600
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THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Notes to the Accounts (continued)
6) Support costs
----- Start of picture text -----
2024 2023
Administration Total Administration Total
fees and fees and
expenses expenses
Charitable Activities: Musical Performances 11,916 11,916 9,664 9,664
Raising funds 3,405 3,405 3,221 3,221
Governance 1,702 1,702 3,221 3,221
Total 17,023 17,023 16,106 16,106
----- End of picture text -----
7) Governance Costs
----- Start of picture text -----
2024 2023
Charitable activities: musical performances 5,831 7,457
Charitable activities: supporting young musicians - 50
Raising funds 251 178
Total 6,082 7,685
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8) Net income/(expenditure)
Net income/(expenditure) is stated after charging:
----- Start of picture text -----
2024 2023
Accountancy fees 3,600 3,600
Independent Examiner ’ s Remuneration 780 864
Depreciation 400 400
Total 4,780 4,864
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THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Notes to the Accounts (continued)
9) Fixed Assets
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2024 2023
Instruments and Total Instruments and Total
performance performance
equipment equipment
Cost or valuation
At beginning of the year 2,400 2,400 2,400 2,400
Additions - - - -
At end of the year 2,400 2,400 2,400 2,400
Depreciation
At beginning of the year 1,200 1,200 800 800
Depreciation 400 400 400 400
At end of the year 1,600 1,600 1,200 1.200
Net book value at beginning of the year 1,200 1,200 1,600 1,600
Net book value at end of the year 800 800 1,200 1,200
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10) Debtors
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2024 2023
Other debtors 6,973 7,535
Prepayments 16,861 4,851
Total 23,834 12,386
Creditors
2024 2023
Accruals 10,467 1,345
Income received in advance 24,757 225
Total 35,224 1,570
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11) Creditors
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THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Notes to the Accounts (continued)
12) Analysis of Restricted Funds
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Balance at Income Expenditure Transfers Balance at
1 April 2023 between funds 31 March 2024
Dream of Gerontius Vatican Concert
Fund 18,570 54,688 73,438 - -
Messiah Fund - 2,500 2,500 - -
Beethoven Fund - 8,925 - - 8,925
Piano Fund 422 - - - 422
Young Musicians ’ Fund 2,456 1,112 - - 3,568
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21,628 67,225 75,938 12,915
Balance at Income Expenditure Transfers Balance at
1 April 2022 between funds 31 March 2023
Durufl é Concert Fund - 125 125 - -
Vaughan Williams Concert Fund 100 2,522 2,622 - -
Slovenia Concerts Fund - 9,824 9,824 - -
Dream of Gerontius Vatican Concert
Fund - 18,750 - - 18,750
Rehearsals and Study Day Fund - 125 125 - -
Piano Fund 422 - - - 422
Young Musician ’ s fund 710 1,746 - - 2,456
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1,232 33,092 12,696 21,628
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Income for the Young Musicians ’ Fund is raised from donations for programmes at the Choir ’ s concerts. The cost of producing the programmes is borne by the Choir so the whole amount of donations received go to the fund. The income of £1,746 in 2023 includes £489 raised at a joint concert with the Bar Choral Society.
13) Analysis of Charity Funds
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Balance at Income Expenditure Transfers Balance at
1 April 2023 between funds 31 March 2024
Restricted Funds 21,628 67,225 75,938 - 12,915
Unrestricted Funds 45,949 73,250 72,925 - 46,274
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67,577 140,475 148,863 59,189
Balance at Income Expenditure Transfers Balance at
1 April 2022 between funds 31 March 2023
Restricted Funds 1,232 33,092 12,696 - 21,628
Unrestricted Funds 63,939 81,973 99,963 - 45,949
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65,171 115,065 112,659 67,577
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THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Notes to the Accounts (continued)
14) Trustees
The total amount of expenses reimbursed to Trustees in the year was £2,834 (2023: £854)
Membership subscriptions and ticket sales made to Trustees were on the same basis as to other members of the Choir.
None of the Trustees received any remuneration (2023: £Nil).
15) Related party transactions
The aggregate amount of donations received from trustees and related parties during the year was £3,632 (2023: £8,167). No conditions were attached to these donations.
There were no additional related party transactions other than those disclosed in the Trustees note above.
16) Employees
The charity has no employees (2023: Nil)
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