THE PARLIAMENT CHOIR Trustees, Annual Report and Financial Statements for the year ended 31 March 2025 Registered Charity Number 1085042
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Reference and Administrative Details of the Charity Charity Name: The Parliament Choir Charity Registration Number: 1085042 Contact Addre55: 4-17 Millbank House, l Millbank, House of Lords, London, SWIP 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 20211 Trustees as at date report approved: Lord German OBE {Chairl Mary Macleod (Vice Chair) Hugh Merrill MVO (Vice Chair} Lesley Titcomb CBE (Treasurer) Baroness Hayman of Ullock Sir Bernard Jenkin MP Gregory Stafford MP {appointed 3, February 20251 Michael Switsur Anna Yallop The Rt Hon The Viscount Younger of Leckie (appointed 3 February 2025) rd Bankers: Metro Bank plc, One Southampton Row, London WCIB SHA Solicitors.. Withers LLP. Third Floor, 20 Old Baileyi London. EC4M 7AN Chief Executive: Choir Manager: Anna Yallop Virginia Hawkins Music Director: Chorus Master and Composer-in-Residence: Finance & Accounts: Simon Over MA FRCO Nicholas O'Neill MA FRCO David McBride BA BFP FCA Independent Examiner Jane Spencer-Davis BA FCCA CTA, Spencer-Davis & Co., 4- 6 Peterborough Road, Harrow, HAI 2BQ
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Trustees, Report Strurture, 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-yearterm, 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 co- opted members to fill any skill or vacancy that may arise from time to time. Such appointment5 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 charivs plans. performance. finance and risk. Day-to-day activities are overseen by the Chief Executive and the Choir Manager. Objectives and Artivities The Charity's objects I'the objects") are: iii the study and practice of choral music in order to foster public knowledge and appreciation of such music bv means of public performance. 12) 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 has been sought from the Charity Commission 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 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.. 10924611 which provides the orchestra for most of its concerts. At most of the Choirfs 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.
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Trustees. Report {continuedJ Achievements, Performance and Future Plans th The Choir celebrated it5 25 Anniversary with a well-received performance of Beethoven's Missa Solemnis at the Royal Festival Hall in June. In November, we returned to Smith Square Hall for a performance of Handel's Messiah, which took place instead of our normal Christmas carol concert. In 2025-26, the centrepiece of the Choir's programme will be a concert in Westminster Hall, part of Parliament's celebration of the 80 anniversary of Victory in Europe Day, which will be broadcast on Classic FM. In the autumn, we will perform Puccini's Messa di Gloria and Leonard Bernstein's Chichester Psalms at Holy Trinity. Sloane Square. We will return to Smith Square Hall in December for a Chri5tma5 carol concert and again in March 2026 to perform Bach's St Motthew Passion. Flnanclal Revlew Income and expenditure can vary significantly from year to year, depending on the number and scale of the concerts the Choir organizes. In the year to 31 March 2025 the Choir took part in two concerts12024: six} of which it organised two {2023: four). The chariVs excess of expenditure over income for the year was £21,2W12024: excess of expenditure over income £8,388). Its unrestricted reserves attheyear-end were £32,89612024: £46,274). Its restricted reserves were £5,093 {2024: £12,915). The charity seeks donations and sponsorship from a wide range of sources to support the ambltious concerts it produces. It is particularly dependent on 5ponsor5hlp and donations when It 15 responsible for staglng national events and undertaking international cultural exchanges as part of its public role. All donations, grants and sponsorship are considered for appropriateness by the trustees to ensure there are no ethical concerns or conflicts of interest which might prevent the Choir from accepting them. The source of all donations, grants and sponsorship are reported to The Speaker and Lord Speaker annually. The Choir continues to recruit for its Friends Scheme to build a stream of Income to support its regular operating costs, The Choir receives no public funding. Rlsk management and reserves policy Part of the Choirfs public rolels to Stage major national events such as Parliament's Armistice Centenary commemoration In Westminster Hall and to undertake international cultural exchanges such as its concerts at the Bundestag in Berlin, Notre Dame in Paris and the Vatlcan. These are expensive and carry significant risks, but the Choir does not commlt to undertaking them until enough financial support has been committed. The trustees are conscious of the need to manage the risks to which the charity is exposed and these are regularly considered at their Meetings. Their risk mitl8ation strategy includes seeking opportunities to take part in collaborative events and staging exciting and musically ambitious concerts to increase the Choirfs audience. The trustees aim to increase the charity's resep4es to provide better protection against the risks it faces and ensure it remains on a sound financial footing. Lord Chair erman Date: 12" January 2026
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 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: select Suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP. make judgements and accounting estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements: 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 charit¢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,
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Independent Examlner's report to the trustees of The Parliament Cholr I report to the trustees on my examination of the financial Statements of The Parliament Choir I'the charity I for the year ended 3 1 March 2025 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, iii accordance with Section 145 of the Charities Act 2011. Our work has been u ndertaken so that we m Ight state to the cha rity's trustees those matters we are fequired to state to them In an Independent examiner's report and for no othor purpose. To the fullest extent permitted bylaw. we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our work, for this report, or for the opinions we have formed. Responslbllitles and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements ofthe Charities Act 2011 Ithe 2011 Act). I report in respect of my examination of the charity's financial statements carried out under 5ectlon 145 of the 2011 Act and in carrying out my examlnation I have followed all the applicable Directions given by the Charity Commission under sectlon 14515llbl of the Act. Independent Èxamlner'5 Statement I have Completed my examination. I confirm that no matters have come to my attention in connection with examinatlon giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or the f inancial statements do not accord with those records,. or I have no concerns and have comc across no oiher matters in connection with the cxamlnatlon to which attention should be drawn Iii this report in order to en*ible a proper vnderstaiiding of the financial statements to be reached. ne Spèncer-D Is BA FCCA CTA Spen¢er-Davis & Co. Cha rtered Certified Accountants & Chartered Tax Advisers 4- 6 Peterborou8h Road, Harrow, HAI 28Q Date: 12" January 2026
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Statement of Financial Activitles for the year ended 31 March 2025 Notes 2025 2025 2025 2024 2024 2024 Unrestrltted Restrlcted Total Unrestrlcted Restrlcted Total Funds Funds Funds Funds Funds Funds Income and endowments from: Donations/Grants Charitable Activities 13,901 101,946 18,993 32.894 101,946 21.170 47,488 4,467 125 67.225 88,395 47,488 4,467 125 Other trading activities Inve5tment5 141 141 Total 115.988 18,993 134.981 73,250 67,225 140A75 Expenditure on: Raising Funds Charitable activities 3,410 125.956 3,410 152.771 8,907 64,018 8,907 139,956 26.815 75.938 Total 129.366 26.815 156.181 72.925 75.938 148,863 Net income/{expenditure) & Net movement in funds (13.3781 (7.822) {21.200) 325 (8,713) {8,3881 Reconciliation of funds: Total funds brought forward 46,274 12,915 59,189 45,949 21,628 67,577 Totsl funds Carried lonvard 32.896 5.093 37.989 46.274 12.915 59.189 There were no other recognised gains or losses other than the net surplus/ldeficitl included in the Statement of Financial Activities. The notes on pages 9 to 14 form part of these financial statements.
THE PARLIAMENT CHOIR FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 MARCH 2025 Balance Sheet as at 31 March 2025 Notes 2025 2024 Fixed Assets Instruments and performance equipment 4(Xl 800 Total fixed assets 800 Current Assets Debto Cash at bank and in hand 7,715 33,436 23,834 69,779 Totsl current assets 41,151 93,613 Llabilltles Creditors: Amounts falling due within one year io 3,562 35,224 3.562 35,224 Net current assets 37,589 58,389 Total assets less current Ilabllltles and total net assets 37.989 59,189 The funds of the charfty Restricted funds Unrestricted funds 11,12 12 5,093 32,896 12,915 46,274 Total charity funds 37,989 59,189 th These financial statements were approved by the Trustees on 12 January 2026 and were signed on their behalf by: an Chair The notes on pages 9 to 14 fomi part of these financial statements.
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Notes to the Accounts Accounting Policies 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 IFRS 102} (effective l January 20191". 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 I 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: Performance fees, ticket income and programme income: in the period in which the performance takes place Membership subscription payments: in the period in which the payment becomes due (subscription payment periods run from I" April each yearl Donations: in the period in which the donation is receNed. 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. Sponsorship payments: in the period in which the payment becomes due, provided the charity is sufficiently certain of receipt of the agreed amount 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) 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 differentl 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 iiij Resources Expended Resources expended are recognised as follows: 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 dayl 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 differentl Fees to music and administration staff: the period in which the work takes place (paid in arrears) Finance and accounting fees." the period in which the work takes place Independent Examiner's Remuneration: the period to which the work relates Support costs: the period to which the expenditure relates this will usually be the period in which the expenditure takes place Grants awarded: as soon as a constructive obligation is deemed to exist to make the award in a future period
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Notes to the Accounts (continuedj 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 Secretarylmanager 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) Cosh ond cosh equivolents 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. viij Financiol 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) Taxotion 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 monitorthe 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. io
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Notes to the Accounts (continuedj 2) Analysis of income from charitable activities 2025 2024 2 concerts 4 concerts Membership subscriptions Performance fees/Ticket income Study days Programmes Music ScoreslRed folder sales Miscellaneous Total 22,085 47.077 27,136 1,171 4.477 18,404 23,472 988 4,476 148 47.488 101.946 3) Raising funds 2025 2024 Note 5,251 3,405 251 8.907 Direct costs Support costs Governance costs Total 3,410 3.410 Charitable activities 2025 2024 Note Musical Supporting young musicians Total Musical Supporting young musicians Total performances performances Direct costs 134,730 11.936 6,105 152,771 134.730 11,936 6,105 152,771 122,209 11.916 5,831 139,956 122.209 11,916 5,831 139,956 Support costs Governance costs Total 5) Support costs 2025 Administration fees and 2024 Administration fees and Total Total expenses 11,936 3,410 1.705 17,051 expenses 11,916 3,405 1.702 17,023 Charitable Activities: Musical Performances Raising funds Governance Total 11.936 3,410 1.705 17,051 11,916 3,405 1.702 17,023 li
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Notes to the Accounts (continued) Governance Costs 2025 2024 Charitable activities: musical performances Raising funds Total 6,105 5,831 251 6,082 6,105 Net Income/lexpenditure} Net income/(expenditurel is stated after charging- 2024 2024 Accountancy fees Independent Examinerfs Remuneration Depreciation Total 3,600 800 400 3,600 780 400 4.800 4.780 8) Fixed Assets 2025 Instruments and performance equipment 2024 Instruments and performance equipment Total Total Cost or valuatlon At beginning of the year Additions At end of the year 2,400 2,400 2,400 2,400 2,400 Depreciation At beginning of the year Depreciation At end of the year 1,600 400 1,600 400 1,200 400 1,200 400 1.600 2,000 Net book value at beginning of the year Net book value at end of the year 800 800 1.200 800 1,200 800 400 Debtors 2025 6,365 1,350 7.715 2024 6,973 16,861 23,834 Other debtors Prepayments Total 12
THE PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Notes to the Accounts (continued) io) Creditors 2025 2024 Accruals Income received in advance Total 3,022 540 3,562 10,467 24,757 35,224 ii) Analysls of Restricted Funds Balance at l April 2024 8,925 Income Expenditure Transfers between funds Balance at 31 March 2025 Beethoven Fund Messiah Fund th VE Day 80 Anniversary Fund Intern Fund Piano Fund 17,015 250 25,940 250 625 625 625 625 422 422 Young Musicians. Fund 3.568 12.915 478 4,046 5,093 18,993 26.815 Balance at l April 2023 Income Expenditure Transfers between funds Balance at 31 March 2024 Dream of Gerontius Vatican Concert Fund Messiah Fund Beethoven Fund Piano Fund 18.570 54,688 2,500 8.925 73,438 2,500 8,925 422 422 Young Musicians. Fund 2.456 21,628 1,112 67,225 3,568 12,915 75,938 Income for the Young Musicians, Fund is raised from donations for programmes at the Choirfs concerts. The cost of producing the programmes is borne by the Choir so the whole amount of donations received go to the fund. 13
PARLIAMENT CHOIR FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Notes to the Accounts (continued) 121 Analysis of Charity Funds Balance at l April 2024 Income Expenditure Transfers between funds Balance at 31 March 2025 Restricted Funds Unrestricted Funds 12,915 46.274 59,189 18,993 115.988 134,981 26,815 129.366 156,181 5,093 32,896 37,989 Balance at l April 2023 Income Expenditure Transfers between fvnds Balance at 31 March 2024 Restricted Funds Unrestricted Funds 21,628 45,949 67.577 67.225 73,250 140,475 75,938 72,925 148.863 12,915 46,274 59.189 13) Trustees The total amount of expenses reimbursed to Trustees in the year was £55 {2024: £2,834). 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 remuneration12024: £Nil). 14) Related party transartions The aggregate amount of donations received from trustees and related parties duringthe year was £4,45612023: £3,632). No conditions were attached to these donations. There were no additional related party transactions other than those disclosed in the Trustees note above. 15) Employees The charity has no employees (2024: Nil) 14