London Men's Chorus LGMC Trustees, Annual Report 2024 London Gay Men's Chorus (A Charitable Incorporated Organisation) Report and Financial Statements Year ended 31 December 2024 Charity No. 1092827
Table of Contents 1. Introduction & Year in Review 2. 2024 Board of Trustees a. Name b. Chanty Registration Number c. Registered Off ice d. Independent Examiner e. Board 3. Who Are We? a. Our Vision, Mission & Values b. Implications for our Charitable Objects 4. Artistic Director's Report 5. Audience and Stakeholder Impact 6. Our Members 7. Development (Fundraising, Partnershlps & Alumni Engagement) 8. Equity, Diversity & Inclusion 9. Our Employees & Freelance Consultants 10. Structure, Govemance and Management Governing Document (Constitution) b. Organisation c. Responsibilities of the Trustees 11. Our Finances 10 11 13 13 14 14 14 15 16
- Introduction & Year in Review As wé near our 40th anniversary in 2031, it's a perfect time to reflect on our journey. We will look at how we have grown organically, driven by our members, talents, goodwill, and financial contributions, along with countless volunteer hours dedicated to singing, entertaining, and managing our wonderful group. Vve are sincerely thankful for the tima spent singing and for those who are committed to planning and organising, A strong foundation has been established and is continually bolstered by our current efforts. We aim to broaden our singing. perfonnance, and volunteer opportunities to enhance the experiences we provide for our members. Through this, we nurture the Chorus family experience, offering love and support in a safe space while delivering tha exciting experiences we aim to offer for LGBTQ+ individuals and their allies. Recenlly, we've been examining our identity, goals; and the path we wish to chart for our chorus. Developing our strategic action plan has been an exhilarating experiencel While navigating change to find a new direction can be difficult, it also provides a fantastic chance to engage and collaborate as we forge this path together. Becoming a Charitable Incorporated Organisation (CIO) represents an exciting milestone, guiding us toward a brighter, more strearnlined future. Our diverse Trustees each bring unique skills to help shape our Chorus. Together, we are actively working to enhance our efficiency and effectiveness as we eagerly approach our 40th anniversary. We are thrilled to explore new opportunities and 188rn through various approaches together. Vvhile we know we won't always achieve perfection, our aim is to cultivate an environment that encourages experimentation, the embrace of new ideas, and enjoyment of our strengths. To foster our development, we will set and evaluate our outcomes to recognise what works well and to Justify the funding we receive. Everyone has contributed significantly to the changes proposed by our members, and we are diligently tracking our progress as we work towards our goals. In 2024, we h£ve successfully delivered a record number of shows and performances, and. thanks to everyone's commitment, we have adhered to our budget forecast. We can all take pride in this notable accomplishment, alongside our incredible music team. Chris Pethers, Laurie Denman-Puller, and Tris Davies, all guided by Simon Sharp, with outstanding support from Mary Owen in operations and production. Change can be exhilarating, even when stepping Into the unknown is iniimidating. Our strength emerges from our diversity, as we embrace and celebrate our unique differences, building an expanding community of singers. We have achieved this exciting milestone through thoughtful reviews and open discussions within our organisation, and we remain committed to our collective growth and development. Although there is still much work to do with our new status, as we take time to assess and update all our guidelines. policies, and procedures, we are inspired by what the future holds. A critical part of this journey will involve defining our renewed charitable objectives in 2025, and we eagerly anticipate where it will lead us! We are excited to emphasise one of our key strengths.. volunteering. To express our gratitude to our amazing volunteers, we have developed a Volunteering Pathway. This resource will clarify the various roles available, along with their corresponding terms and time commitments. We aim to ensure that everyone has equal
opportunities through a fair recruitment and support programme overseen by our Volunteer Coordinator and committed team members, all collaborating under the People Committee. We are dedicated to making volunteering an inclusive experience, recognising and rewarding our volunteers in meaningful ways to ensure each person feels valued and acknowledged. Whether individuals choose a time-limited or ongoing role, we commit to reviewing these positions every two years. During this process, every volunteer will have a straightfoNard opportunity to share their thoughts and confirm their satisfaction and fulfilment in their contributions to the Chorus, In support of our objectives, we are thoroughly examining our financial policies and procedures. Additionally, we are introducing an enhand budgeting process to gain clearer understanding of our funding requirements for the upcoming year. During our final quarterly Board meeting each year, the FinancÉ Committee will present the annual budget for approval, enabling us to confidently commence the new financial year. Each project and activity will have a clearly defined budget, along with a designated individual responsible for ensuring everything operates smoothly and aligns with our goals and outcomes. The last piece in strengthening our foundations is communication. We are establishing a Communications Committee that will report directly to Ihe Board. A thorough assessment of our communication requirements, along with our current platforms and practices, will be conducted to develop an approach that meets our internal and extemal communication needs more effectively. Furthemore, we plan to grow this team to improve and refine our communications. Looking ahead to 2025, we have engaged Jamie Munn, a self-employed consultant as our inaugural Development and Fundraising Manager. Jamie is responsible for fundraising and securing pledges for 2025 to address the funding gap between our income and expenditure, which will enable us to develop new pro}ects and activities. Significantly, we are planning to bring on board a Chief Executive Officer to oversee all operational activiti8s and report to the Board. The Chair has undertaken these responsibilities as Executive Chair, but this arrangement has always been intended as temporary. 2024 was a year of consolidation and change, allowing the chorus to be more nimble and prepared to respond to new ideas and performance opportunities. aim to expand our member base by increasing partlcipation opportunities, empowering members to choose and Greate their own LGMC Chorus experience, offering options that better suit their lives, work-life balance, and commitments. This approach aligns more closely with their motivations for being part of the chorus family We plan to remain flexible and considerate as we expand and develop these singing and volunteering options and opportunities. In March, we received the sad news of Ray (Raymond) Frost's passing. Ray, a founding and honorary life member, was an integral part of our original group, singing with us regularly. His mischievous sens& of fun and warm friendship is greatly missed. We expressed our condolences to his partner, Cesar. and the Chair delivered a eulogy at his funeral, accompanied by the chorus's performance. The LGMC is more than just a musical group,. it fosters a sense of belonging. We create an environment where individuals can express themselves, arnplify their
voices, and be part of something meaningful. Our performances, events, and outreach initiatives reflect this mission, showcasing uplrfting and iconic songs thal resonate with joy and pride, sung in unison. We remain committed to connecting communities through music and, with your support, evolving into a vibrant and powerful advocale for inclusion, hope, and harmony. Martin Brophy MBE, Chair of the Board of Trustees. 2. 2024 Board of Trustees Position Trustee Mr Martin G. Brophy MBE Date of Appointmeiit l Retiremenl Appointed 17 June 2021 (Trusteel Appolnied 28 November 2022 (Chair) Appointed 17 July 2021 (Trustee> Appointed 8 February 2024 {Vice-Chair) Appointed 24 April 2023 {Secretary & Trustee Appointed 27 June 2022 {Treasurer & Trustee) Retlred 16 September 2024 Appointed 4 September 2023 (Trustee) Appointed 13 October 20241Treasurer) Appointed 24 April 2023 {Head of Membership & Trustee) Retired 17 June 2024 Chair Vice-chair Ms Sylvie Pierce MBE Secretary Mr Cameron J. McLeod Treasurer Mr Edo Avraham Mr David M. Weitzmann Head of Membership Mr Trevor l. Clarke Trustee5 Ms Nicola S. Berrv Mr Nikhilesh B. Dasgupta Mr Alexanderj. P. Dixon Ms Caroline Fry Mrjeremy Haneman Mr Jonathan M. Howard Mr Mdrlin P. Kaufman Mr Sami H. Qasem Appointed l July 2024 Appointed 16 September 2024 Appointed 24 April 2023 Appointed I September 2024 Appointed l July 2024 Appointed I September 2024 Appointed 7 February 2022 Appointed l July 2024 a. Name London Gay Men's Chorus b. Charity Registration Number 1092827 c. Registered Office
124 City Road, London, EC1V 2NX d. Independent Examiner Powdin & Co Limited, Hampshire House, 204 Holly Road, Aldershot, Hampshire, GU12 4SE e. Board The CIO was managed by a Board consisting of elected and appointed truste8S listed as above. This Report and Financial Statements were approved by the current Trustees on 14th May 2025 and signed on behalf of the CIO by. Martin Brophy, MBE Chair of Board of Trustees
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Who Are We? The London Gay Men's Chorus (LGMC) began life in December 1991 as an informal supportive social group to sing for pleasure and has evolved into an intemationally recognised, high quality, inspirational part of the LGBTQ+ global choral family, with 300 plus members. a. Our Vlsion, Misslon & Values After a significant period of consultation with members, volunteers and allies during 2023, the Board agreed a refreshed Vision, Mission and set of Values for the Chorus in January 2024: Our Vlsion (the change we want to see in the world).. Everyone Brought Together Through Song. Our Mlssion (what we do to achieve our vision): Create, enable and connect confident voices across communities with fun, hope, love, joy and fearless allyship. Our Values
and we appointed five new Trustees from outside the Chorus to bring fresh perspectives and experience to the Board. At the same time, our new Vision, Mission and Values have forced us to face some home truths about areas where we are falling short and need to do better. The Board has again engaged people make it work (an extemal agency working in the cultural space} to collaborate with us to build our change programme focusing on four key areas of Chorus culture belonging, inclusion, quality and simplicity. This will be a multi-year programme, but the Board has committed to taking tangible steps that will positively impact Our members and other stakeholders in 2025, including (a) refining how we recruit, manage and thank our volunteers, and (b) developing and implementirKJ an integrated communications and marketing strategy. b. Implications for our Charitable Objects All decisions of the Board of Trustees are taken in accordance with our Charitabl8 Objects and from 2024 onwards our new Vision, Mission and Values. We review what we have achieved and the outcomes of our work over the calendar year, the success of each key activity and the benefits that these activities have brought to the public. Following the adoption of our new Vision, Mission and Values, the Board intends to review and, following consultation with members, propose an update of our Charitable Objects to the Charity Commission for approval, -
Artistic Director's Report 2024 was one of the busi8sI years with many creative and commercial highlights. It was a year that saw the LGMC deliver some excellent artistic and creative concepts, build and develop partnerships with new collaborators and present original and engaging programmes that challenged, entertained and inspired both our membership and our audienc8. The original concepts that provided the creative backbone for our programming were Queer Carnival at Alexandra Palace and Christmas Bop at Queen Elizabeth Hall. In addition to our much celebrated return to the Southbank Centre we also developed our partnership with St Martin-in-the-Fields and compl8ted an epic year with our good friend Sandi Toksvig and the BBC Concert Orchestra at the Royal Albert Hall. The creative arc of the year was wonderfully varied with each production giving rise to elements that showcased the Chorus in many different ways, musically and artistically. Queer Carnival (Summer) was an 8clectic contemporary global celebration of diverse LGBT+ culture hosted by drag trio - Rita Zeta Jones, The Tiny Gentleman and Beary Poppins, including a fabulous collaboration with the Brazilian Samba band - BATALA. Christmas Bop (Winter) provided a retrospectlve look ai Christmas through the prism of the 1950's and 1960's Dance Hall with quirky and inventive arrangements providing a feel-good trip down memory lane hosted by the wonderful Rachel Wooding. These productions were the creative backbone of 2024 involving many newly commissioned vocal arrangements, many of which continue to populate our other outreach and community perfomiances and commercial engagements for both the main chorus and ensemble. Each production was designed to give enhanced membership development opportunities in the form of small vocal ensembles, auditioned solos, performance groups and dancers all helping to create a more engaging presentation for our audiences and showcasing the huge range of talent wilhin the Chorus. We expanded the Ensemble in 2024 to provide more opportunities for members from across the wider Chorus to participate. lthile the new larger group often continues to perform together - particularly at corporate and charity events - we also created two strands within the group to facililate focus on particular performance styles and music genres. In what has now become an annual tradition, the Ensemble also presenied a new edition of CabaGay - this time at the Union Theatre. There were many other notable events in 2024. too numerous to mention here, but the following highlights give a flavour of the breadth of work, creativity and partnerships that was made possible by a strong core programme with an impressively committed membership: HMP Tharneside - an outreach event for LGBT inmates Isaac Dunbar recordlng - a collaboration with this rising American artist London Stock Exchange - closing trading in celebration of Pride Royal Trinity Hospice - a special performance for carers, staff and patients Partnèrships with Anya Hindmarch, Laura Devine, West London Synagogue, Chesil Rocks. Wilton's Music H811, Liberty London and Charlotte Tilbury (to name 8 few) continue to flourish. Support for charities such as The Bisi Alimi Foundation,
Stonewall Housing, Look Good Feel Better and the Kaleidoscope Trust among olhers, continues to be central to our work. l am very pleased to enjoy the continued support of assistant musical director Chris Pethers, accompanists Laurie Denman and Tris Davies, along with our wider pool of freelance musicians including Richard Baker, Sean Green and Julian Muhr. Huge thanks to Carrie Burnharn for her significant contribution and support and we wish her well in her new role as a producer at The Rosé Theatre, Kingston. I was delighted to welcome Mary Owen as our new Operations and Production Manager who is already providing excellent support and production management. As our profile continues to grow, there are many more opportunities for us to pursue - and this enhanced team is essential in realising our ambition. 5. Audience and Stakeholder Impact 2024 was another extraordinary year for the London Gay Men's Chorus, filled with powerful performances, sold-out shows, and artist collaborations that amplified our voice in the LGBTQ+ community and beyond. From electrifying Pride celebrations to festive spectacles, we continued to bring Joy through song, and advocate through the unifying power of music. This year, the Chorus delivered unforgettable moments across London and beyond, performing to more than 5,000 people at our headline shows, including Queer Garnival at the iconic Alexandra Palace, CabaGay at Union Theatre and Party with Pride at St Martin in the Fields. We ended the year with our big festive finales, performing to sold-out audiences at the Southbank Centre (Christmas Bop) and a return lo Sl Martin-in-the-Fields. We embraced our rallying call of spreading joy Ihrough music, performing lo 20,000+ runners 8t the London Landmarks Half Marathon with our signature blend of motivation and melody. We helped to spread seasonal cheer to thousands at the Regent Street Christmas Light Switch-on and performed alongside Carrie Hope Fletcher and the BBC Concert Orchestra at the Royal Albert Hall for Sandi Glaus is Coming to Town, In total, members of the Chorus delivered 67 performances to well over 30,000 people, bringing to life our new vision of Everyone Brought Together By Song. Performances 2024 20 15 10 Main 11 Other • Ensemble
Increasing our reach through social media will be a priority for next year, however, this year saw our Instagram followers increase by 20 % to 5,872, Facebook to 14,500 and X (formally Twitter) to 15,300 followers. Press coverage highlighted some of our sold-out shows, with the Gay Times calling the Christmas Bop 'a must-see festive event,. There was also extensive coverage of our 'American High, collaboration with pop sensation Isaac Dunbar, which debuted at London Pride. 6. Our Members The Chorus thrives on the extraordinary time commitment of its members. Participation in all major perfomances represents over 224 hours of rehearsal and performance. Optional events added another 245 hours, and Ensemble members dedicated an additional 268 hours. This remarkable investment of time, which is 20 % higher than the previous year, is further augmented by member subscriplions and extensive volunteer work. The Board would like to thank all members for their continued support and commitment to the Chorus, especially those who have taken on additional volunteer duties and tasks across the organisation. At the September General Meeting, the Board was pleased to award Paul Hawley honorary lifetime membership in recognition of his over three decades of service and invaluable dedication to Chorus. Length of Membership 5-10 10-15 15-a) 20-26 25+ 25 50 75 100 Member (count) Prospective singers are assessed, waitlisted, and admitted seasonally. Member numbers vary. The Chorus has four vocal sections (Tenor 1, Tenor 2, Baritone, Bass), a non-singing Semitones section, and an Ensemble. Semitona membership is open to all. 49 singers Joined in January,. 40 remained at the end of the year. Non-singing intake was ongoing. Twelve members transferred sections, 10
Singing Members Non-Sin8ln8 Members Members Membershlp at start of the year 266 198 68 New Members 51 49 Transferred 12 +21-11 +11/.2 Members who left 41 20 20 Membershlp at end of the year 276 218 59 Total Membershlp 318 249 81 Each section and the Ensemble elect representatives, who with the Membership Lead and volunteers, form the Membership Committee. The monthly Membership Committe8 oversees member welfare and administralion, including social events, tours, feedback, subscriptions, and bursaries. In September the Committee was joined by a Trustee sponsor and two new Deputy Membership Leads. The Chorus supports and encourages members to run independent peer support groups. V*le currently have four such groups: LGMC+ LGMCa for HIV+ member5 to connect confidentlally and offer mutual support LGMC•r• (Infinity) for neurodivergent membèrs, and those who think they may be neurodivergent for members who are or have struggled with addiction of any kind LGMC Soloists for members experiencing loneliness to make connections and build friendships 7. Development (Fundraising, Partnerships & Alumni Engagement) 2024 saw the long-awaited start to creating a strategic and sustainable fundraising programme for the LGMC. In April, the Board approved Terms of Reference for a new Development Committee, tasked with coordinating fundraising and alumni relations for the Chorus. It has met around every six weeks since May 2024 and comprises seven Chorus members and one alumnus. In October 2024, the committee organised an Away Day in order to map out its own priorities in terms of long- and short-term funding. It took on Its own commitment to 11
raise fund5 in coordinalion with an incoming Developmenl & Fundraising Manager, as it realised its own responsibility to support the Chorus's future financial sustainability and to lead by example. Ideas discussed included the development of a legacy programme, the feasibility of core funding, raising funds for Chorus tours to maximise access, addressing the challenges of fundraising around concerts, looking at enhancing accessibility as a fundraising priority, and reviewing Ihe messaging towards and profiling of prospective donors necessary for effective fundraising. It was agreed that all these ideas would be further developed In 2025 once the new Development & Fundraising Manager commenced, and in close coordination with an overarching strategic action plan which the Board planned In the coming year. All this work builds upon the generosity of those Chorus members who make regular donations to us in addition to their subscription donations. We are very grateful for their support. On receipt of the long anticipated bequest from Chorus alumnus the late John Holt in early 2024 (which was published in our Queer Carnival prograrnme as a way to encourage future legacies>, the Board took the decision to fund the first year of the Development & Fundraising Manager from those funds. This was on the understanding that it would be unrealistic to expeci sufficient cash to be generated without that support in 2025, and that the new recruit would have a fundraising target to cover at least raising their own costs in a combination of cash and committed pledges in the first year. In September 2024, we started the process of recruitment for this new role and in December, we were delighted to appoint Jamie Munn, an experienced cultural and music fundraiser. We look forward to long-awaited progress on this front in 2025. Our Summer and Winter concerts are currently the principal ways in which the Chorus shows the outside world who we are and what we do. The receptions for our Chorus guests at concerts are therefore an important way in which we Ggn welcome new friends and thank existing ones, opening the doors lo new supporters, new music partnerships and new charity and choir relationships. As an example of the ways we have engaged with our friends, our charity partner for our Queer Carnival concert in Summer 2024, the Kaleidoscope Trust, invited our Artistic Director and D&velopment Committee Chair to a reception at the Foreign and Commonwealth Office which was an eye-opener in terms of how an LGBTQ+ charity can present itself to the wider world. Other important engagements linking the Chorus to potential supporters came through the LGMC Ensemble's programme, including a generously funded event for Microsoft. Development Committee member Kitson Price Lim created two important entry points into City of London banks and finance firms who Support LGBTQ rights. In Ihe Summer, members of the Development Committee were actively involved in Chorus events including Lambeth Pride, Nordic Pride at the Royal Danish Embassy, and an exceptional Pride event at the London Stock Exchange. With a Development & Fundraising Manager onboard in 2025, we expect the impactful engagement of the Chorus at such events to increase. In 2024, we further continued the more structured approach with our supporters we had started to develop at our concerts in 2023. At Alexandra Palace for 'Queer Carnival,, we included a speech by our Chair at both intervals, and we were delighted to recruit several alumni as Guest Greeters, ensuring a special welcome at the door for our guests. We held receptions in the Gracie Fields Room alongside our partner 32
charity the Kaleidoscope Trust, and in the foyer at the Southbank Centre for our 'Christmas Bop, concert. As previously, these events allowed our guests to get to know trustees, music team and guest performers after seeing the Chorus perform in the first half of both concerts. We continue to be thankful to all who volunteer as part of our Front of House teams and the role they play in engaging with and raising donations from audience members and for our concert partner charities. Each concert welcomed around 50 guests. Existing and new Chorus friends and celebrity guests included". singer-songwriter Nerina Pallot, Rachel Wooding (star of 'Standing at the Sky's Edge, and our Christmas soloist), Adele Anderson from Fascinating Aida, the wife of the Irish Ambassador Deirdre Fraser, Leslie Richards from Laura Devine Immigration for whose practice the Ensemble sang at their Christmas party (and through whom in 2023 we were introduced to Neil Barclay of HMP Thameside for whom the Chorus performed at his prison in Spring 2024) We were particularly pleased to invite once again Rosaleen Hubbard of Towerhouse LLP (with thanks to Bass Section Representativè Rob Wells) who once more made a generous unrestricted donation to the Chorus. We were especially pleased to welcome Gay Liberation Front veteran Cloud Downey, who organised th8 very first public performan of Ihe Chorus at Finsbury Library in the early 1990s. 2024 closed with enormous anticipation around what 2025 would bring in terms of a professional fundraiser alongside an increasingly active Development Committee, fully supported by the Board. 'Watch this space, is our motto for next year! 8. Equity, Diversity & Inclusion The Equity. Diversity and Inclusion policy has been endorsed by the Board during the year and is now included in the welcome pack for members and every report has a Section looking at the potential impact on the EDI policy. Feedback from Chorus members suggest that the LGMC has become a more comfortable place for members with disabilities, with greater sensitivity shown towards them., and there is a noticeable increase in the number of men of colour who are now part of the Chorus. Next steps will potentially include a working group looking specifically at this area; new partnerships designed to enhance the diversity of experience and music. The Vision, Mission and Values work has also Overlapped with the this area of work and in the near future it is hoped to produ a comprehensive strategy covering all aspects of the Chorus, including the Equity, Diversity and Inclusion policy, which in turn will inform the charitable objectives and therefore the key areas of development for Ihe future. 9. Our Employees & Freelance Consultsnts The Chorus employs both the Artistic Director and Operations & Production Managar. A range of other freglance consultants are engaged by the Chorus to support the delivery of our artistic slrategy. During 2024, the People Committee developed and released 'Working with the LGMC. . a handbook for both employees and consultants 13
covering their entitlements and how policies apply to them. We also undertook performance and development reviews with both staff and consultants. 10. Structure, Governance and Management a. Governing Document (Constitution) During 2024, the LGMC became a Charitable Incorporated Organisation (CIO). Previously the LGMC was a charitable company limited by guarantee, incorporated on 8 March 2002 and registered as a charity on 5 July 2002. Our Articles of Association had their most recent update following the passing of a special resolution by the members in June 2022, following a significant restructuring in 2020 when the old Steering Committee" was replaced by a strategy-focused Board composed of member-elected and external Trustees. An operation5-focused Executive Committee (Exco), composed of member-elected Leads was also developed. Since the changes made in 2020 & 2022, the Board, staff, Exco members and other volunteers felt that too much of our organisation structure was unnecessarily written into our Articles of Association, reducing our ability to be agile, flexible and try new ways of working The Roles, Responsibilities & Authority Working Group's output approved in May 2024 also informed our approach to updating the governance of the Chorus. Following the launch of our new Vision, Mission and Values, the Board adopted a principle of simplification and this infomed the recommendation of the Governance Working Group to adopt the Charity Commission's model CIO constitution as the best route for us to take. It would provide a modern, fil-for-purpose constitution which many charities had already adopted. A small number of LGMC-specific changes were made (e. g. number of trustees, whal constitutes a quorum, members with debts to the Chorus noi being permitted to vote etc.), and where these didn't limit the Board's abilily to adapt quickly, they were included. The draft constitution was approved by the Board on 8 May 2024 and was put to a General Meeting of members on 17 June 2024 where it was agreed to (a) convert to CIO and (b) adopt the n&w constitution. Members also aulhorised the Board to agree to any changes as may be required by the Charity Commission to register as a CIO. Two minor amendments were requested by the Charity Commission and these were approved by the Board on 19 August 2024. Our application to become a CIO was approved by the Charity Commission on 28 Augusl 2024 and we ceased being a charitable company limited by guarantee. b. Organisation Following our conversion to a CIO and the adoption of our new constitution: there is provision for a Board of up to thirteen Trustees, comprising the Chair of Trustees, further six Trustees elected from amongst the mernbership of the CIO, and six non-member Trustees recruited and appointed by the 8oard. In line with Board Election and Recruitment Policy. approved by the Board in August 2024, Currently the 14
Chair of Trustees musl b8 a membar of the CIO and is elected by the m8mbers. Trustees are elected or appointed for three-year terms of office and may only serve for two full terns. Office-bearer roles (Vice Chair, Secretary & Treasurer) are elected by the Board from among their number. This now means that office-bearers may be either member- or external-trustees. As foresha(lowed in our 2023 Annual Report, organisational initiatives over 2024 were focused on planning for and implementing the following.. 1. Creating an organisation structure which allows the Board to focu5 on strategy, while delegating responsibility for operations to empowered individuals or committees with suitable oversight 2. Retiring the Executive Committee, and replacing it with a series of Board Committees each focusing on a particular portfolio 3. Ensuring that role overlaps are minimised, and where overlaps do exist, creating opportunities for collaboration between skilled and passionate individuals 4. Moving away from many volunteer roles being elected. while securing the member's influence on the organisation through Board elections and other engagement activities 5. Creating a nèw projects structur& (sitting alongside committees), with time-bound remits to deliver change in support of our growth and developing strategy 6. Ensuring our volunteers continue to be supported and recognised for the work they do for the success of the LGMC We now have four committees each either chaired or sponsored by a Trustee., Development, Finance, Membership and People. Committee members are Trustees, members Of friends of the Chorus and each committee has Terms of Reference approved by the Board. 2025 will see the introduction of an additional committee covering Communications & Marketing. The only non-Trustee volunteer roles which currently remain as elected positions are the Membership Lead (which was previously a directly-elected member Trustee) and each of th8 Section Representatives. The Membership Lead chairs the Membership Committee working alongside a Board sponsor. This Committee is predominantly composed of the Section Representatives. All other volunteer roles undergo an open recruitment and selection proc@ss focusing on the skills and experience needed to fulfil the functions of the role. We plan to further refine our volunteering framework during 2025. c. Responsibilities of the Trustees Key Responsibilities., Public Benefit: Trustees must ensure the CIO is operating for the public benefit, as Outlined in the LGMC constitution and the Charities Act 2011. Compliance.. Trustees must comply with the constitution, the Charities Act 2011 , and other relevant laws and regulations. 15
Resource Management: Trustees are responsible for managing the CIO'S resourceg responsibly, including finances, investments, and assets. Safeguarding Assets: Trustees must safeguard the CIO'S assets and take reasonable steps to prevent and detect fraud and other iegular1ties. Accountability: Trustees must ensure the CIO is accountable to its stakeholders, including donors, beneficiaries, and the public. Annual Revlew: In the Trustees, Annual Report, Trustees must include a revivw of the charity's activilies and achievements, as well as a statement on compliarte wilh the public benefit duty. Financial Reporting: Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. Strategic Direction: Trustees are responsible for setting the CIO'S strategic direction and ensuring it is effectively implemented. Monitorlng and Oversight: Trustees must monitor the CIO'S performance and ensure il 15 operating effectively and eff iciently, Conflict of Interest: Trustees must declare and manage any potenlial conflicts of interest. Trustee Conduct: Trustees must act with reasonable care, skill, and diligence in carrying oul their dulles. Delegation: bfjthile Trustees can delegate certain tasks, they retain ultimate responsibility for the CIO'S management and administration, Each LGMC Trustee affirms their commitment to a Trustee Code on their appointment and annually thereafter. 11. Our Finances Flnancial Health & Governance The LGMC reviews its finances through three separate but complementary lenses: 1. Cash Flow: Cash flow reports for the period are shared from the Finance Committee with the Board and Executive. 2. Management Accounts: We have outsourced tha production of the Management Accounts to an accountancy firm and these are presented to the Board on a quarterly basis 3. Financial Accounts: An Independent Examiner reviews all financial activity across the year, including income and expenditure, cash flows and changes in assets and liabilities. 18
Cost management and optimisation is a clear focus for the Treasurer and Finance Committee. The impact of the pandemic significantly affected the cash reserves of the Chorus, however these now stand at a healthier £282.490. over 98 % of which is unreslricted. The Board, through the Finance Committee intends to review both its General Reserve level as well as formally designate funds for specrfic purposes during 2025. Flnanclal Performance & Key Initiatives Total Income Donations and Legacies Performances and Events Other Income £587,612 £334,734 £234.193 £18,685 £337,745 £129,904 £179,110 £28,731 Total expenditure Performances and Events" Support costs"" Othef expenditure £389,548 £142,770 £243,771 £3,007 £372,594 £145,647 £217,571 £9,376 Total Surplusl(Deficit) £198,064 (£34,849) Performances and Events expendiiure has been restate(I for 2023 as classifications have been urxjaied Support Costs include staff, consullants. rehearsals, premises, office, communication, IT. travel, finance and governance Maln drivers for changes in Income and expenditure: Income of £587,612 was £249,867 higher than 2023, helped significantly by the legacy bequest from alumnus the late John Holt. On a like-for-like basis. the uplift was £69,867 a 210h uplift, and our second consecutive record revenue performance. Other than the legacy bequest, this was principally driven by: Donations increasing by 150/0 to -£11.5k Member subscription income and Gift Aid rising 190/0 to -£143k Very strong sales for Christmas Bop which more than offset the small loss from Queer Carnival. Performance fees generated from the Ensemble as well Ss main Chorus performances at St Martin-In-the-Fields and the Royal Albert Hall increased by 880/0 to £95k The Board through the Treasurer, a reconstituted Finance Committee and Ihe diligent work of our staff have had a strong focus on sensible cost containment while still continuing to invest in the development of the Chorus. Expenditure grew by a very modest 50h over 2023. Key highlights include.. Delivering one fewer production than 2023 and no international tour Delivering productions within agreed expense budgets Following the sharp rise in venue and rehearsal hire costs in 2023, these rose by a further 180/0 in 2024 17
We are delighted lo be able to present our first surplus (£18,064. axcluding the legacy bequest) since the COVID pandemic and the Board is mindful to utilise the generous legacy bequest to develop both the Chorus, culture as well as build sustainable new revenue streams with the onboarding of a new Development & Fundraising Manager in early 2025. ENDS 18
CHARI REGISTRATION NUMBER: 1092827 LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 OWDIN & CO LIMITED Chartered accountants Hampshire House 204 Holly Road ALDERSHOT Hampshire GU12 4SE
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION TRUSTEES. ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The trustees present their report and the unaudited financial sl¢lternonls of the charity for Ihe yeaf ended 31 December 2024. Reference and Admlnlstr8tlve Detalls Reglstered charity nam• London Gay Men's Chorus Charlty reglstratlon number Prlnclpal offlca 1092827 124 City Road LONDON EC1V 2NX The Trustees Mr Martin G Brophy (Chair) Ms Sylvie Pierce (Vice Ch8ir) Mr Cameron J McLeod (Secretary) Mr David Weitzmann (Treasurer) Ms Nicola S Berry Mr Nikhilesh B Dasgupia Mr Alaxander PJ Dixon Ms Carolina Fry Mr Jererny H8neman Mr Jonathan M Howard Mr Martin P Kaufman Mr Sami H Qasem Ind•pendent Examln•r Mr L J Pow811 Bsc FCA Powdin & Co Limited Hempshire House 204 Holly Road ALDERSHOT Hampshire GLJ12 4SE
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION TRUSTEES, ANNUAL REPORT(¢ontlnu•dJ YEAR ENDED 31 DECEMBER 2024 StruGture. Governance and Management Governlng DoGumenl During 2024, the LGMC became a Charitat>le Incorporated Organisaiion (CIO). Previously th8 LGMC was a charitable company limited by guaraniee. Incorporated on 8 March 2002 and regislered as a charity on 5 July 2002. The company was established under a Memorandum and Articles of Association incorporaled on 8 March 2002, as amended by special resolution of 22 May 2006. New Arlicles and by-laws were adopted in 2020. and these were further 8mend8d at the 2022 Annual General Meeting. The draft CIO constilution was approved by the Board on 8 May 2024 and was pul to a General Me81ing of members on 17 Jun8 2024 where Il was agreed to (al convert to a CIO and (b) adopt Ihe new constilulion. Members also authorised the Board to agree to any changes as rnay b& r8quired by the Charily Commission to register as a CIO. Two minor arnendments were requasted by the Charity Commission and thèse were approved by Ihp Board on 19 August 2024. Our application to become a CIO was approved by the Charily Commission on 28 August 2024 and we ceas8d being 8 charitable company limited by guarantee. Organlsatlon Following our CA)nversion to 8 CIO and the 8doplion ofour new cx)nslilution, there is provision fora Board of up lo thirteen Trus168s, comprising the Chair of Trustees. a further six Trusiees elected from amongsi the membership of Ihe CIO, and six non-member Trustees recruited and appointed by the 8oard. In line with Board Eleclion and Recruilmenl Policy, approved by the Board in August 2024. currently the Chair of Trustees must be a m8mber of the CIO and is elecied by the members. Trustees are elected or appointed lor three-year temis of office and may only serve for two full tenns. Office-bearer roles (Vice Chair, SeGretary & Treasurer) are e18cled by lh8 board from among their number. The CIO employs both the Artistic Direclor and Operations & Production Manager. A range ol other freelance consultants are engaged by the Chorus to SUPPDrt Ihe delivery of our artistic Strategy. Objectlves and Actlvltlas About Ihe Lobdon Gay Men's Chorus The London Gay Men's Chorus began life in 19g1 as an informal social group to Sing for pleasure and has evolved inlo an intemalionally rwnlsed high qualily inspirational chorus numbering upwards of 300 rn&mbers. Purpos• Ourcharity's purpose as sel out in the objects contained in the CIOS constilution is Ihe study and practice of choral MLJSIC in order lo foster public knowledge and appreclalion of such music by means of public performance.
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION TRUSTEES, ANNUAL REPORT (contlnu•d) YEAR ENDED 31 DECEMBER 2024 Objectlves and Actlvltles (tInu•d) Our Vlslon Everyone Broughl Together Through Song, Our Mlsslon Create. enabl8 and Lt>nnect confidenl voices across communities with fun, hope, love, joy and fearfess allyship. Our Values All-in, Community. Harmony. and Transformation. Ensurlng wel d•llv•r our alrns Following the adopllon of our new Vision, Mission and Values. the Board iniends to r&vlew and, following consultalion with memLsers, propose an update of our Charitable Objects lo the Charity Commission for approval, We have referre(J to the guidan&9 contained in the Charity Commission's ganeral guidance on public benefit when reviewing our aims and objectives and in planning our future aclivities. In partIlar, the trust8es nsider how planned aciivities will conlnbule lo Ihe aims and objectives they have set. Achlevements and Performance Refer to LGMC Annual R8POrt 2024. Flnanclal Revlew Refer lo LGMC Annual Report 2024. which also details income and expenditurg activities for the year. Investment P,ollcy Under the constitution, the Board of Trustees of the charity has the power to make inveslmenis however it sees fil in line with the furtherance of its objectives. The majority of Chorus funds are spent in the short lerm as such to retain a prudent amount in reserves each year. The Board of Trusiees has not considered investments this year. Plans for Futur• Perlod8 Refer to separate report. The trustees, annual report was approved on 14 May 2025 and slgned on behalf of the board of Irustees by.. Mr Martin G Brophy {Chair) Trust&e
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LONDON GAY MEN'S CHORUS YEAR ENDED 31 DECEMBER 2024 I report to the trustees on my examinaiion of Ihe financial statements of London Gay Men's Chorus ('Ihe charily'l for the year ended 31 December 2024. Responslbllltle8 and Basls of Report As Ihe tru51ees of the charity you are responsible for the preparalion of the fin8nci81 stalements in accordance with the requiremenis of the Charilies Act 2011 ('Ihe Act.). I report in respect of my 8xamlnation of the charlws financial siatements carried out under section 145 of the 2011 Act and in Carng out my examination I have followed all the applicable Direclions given by the Charity Commission under section 145(5)Ib) of the Act. Indapendent Examinor's Statement Since the charity's gross incorne exceeded £250,000 your examiner rnusl be a member of a body listed In section 145 of lh8 2011 Acl. I confirm that l am qualified to undertake the examination because l am a member of Institul8 of Chartered Accounlants in England and Wales (ICAEWI, which is one of Iha listed bodies. I have completed my examination, I confirm that no malerlal matters have come to my attention in connection wilh the examinaiion giving m8 cause lo believe Ihal In any material respect: actounling records ware not kept In respecl of the charity as required by seclion 130 of the Act., or Ihe financial statements do not accord with those records; or th8 financi81 statements do not comply wlth the applicable requirements conceming the form and content of accounts set out in the Charilies (Accounts and Reports) Regulation5 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independenl examination. I have no conc8ms and have come across no other matters in connection with the examination to which attenb'on should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Mr L J Powell Bsc FCA Powdin & Co Limited Independent Examiner H8mpshire House 204 Holly Road ALDERSHOT Hampshire GU12 4SE 14 May 2025
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2024 2024 Restricled funds Total funds Tolal funds 2023 Unrestricted funds Noto Income and endowments Donations and legacies Charitable activilies Other traiJSng activities Investment incom6 Olher income 334.734 234,193 4,328 8.097 6,260 587.612 334,734 234,193 4,328 8,097 6,260 587,612 129.904 179,110 3.148 1.716 23.867 Total Incorne 337,745 Expendltura Expenditure on raising funds: Cosis of raising donations and legacies Costs of other trading 8ctiv+lies Expenditure on charitable aciivities Olher expenditure Total expenditure 622 5,309 363,218 3,445 372,594 10 11,12 14 1.854 386.541 1.153 1,854 386,541 1,153 389.548 389.548 Net Incom81(expendlture) and net movement In ndS 198,064 198,064 (34,849) Reconclllallon of funds Total funds brought forAiard Total funds carrl•d forward 80.652 3,774 3.774 84,426 119.275 278.716 282,490 84,426 The staiement of flnancial activities Includes all g2ins and losses recognised in the year, All income and exp8ndilure derive from continuing acbvTties. Th• noles on pag•s 8 to 17 forni part of these flnanclal stalemènts.
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2024 2024 2023 Noto Flxed Assels Tangible fixed 8ssels 19 203 69 Current Assets Debtors Cash at bank Bnd in hand 20 174,471 16g,271 343,742 86.288 45.251 131,539 Credltors: Amounts F3lllng duo Wlthln One Year 21 61,455 47,182 Net Current A88Ot$ Total Assets Less Current Llabllltles Net Assets 282,287 282,490 282,490 84,357 84,426 84.426 Funds of tho Charity Reslncled funds Unreslricled funds 3,774 278,716 3.774 80,652 Total charlty fund8 23 2B2,490 84,426 These financial slalements wera approved by the board of trust86s Snd authorised for issu8 on 14 May 2025. and ar8 signed on behalf of tho board by.. Mr David Weilzmann (Treasurer) Trustee Tho notes on pages 8 to 17 fom part of theso flnanclal statem&nts.
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash Flows from Operatlng Activities Nat incomel(expendlluro) 198,064 (34.849) Adjuslments for Depreciation of tangible fixed ass&ts Other Inl8rest receivable and similar income Accrued (incomeyexpenses 26 {8,097> (40,138) (1.716) 27,252 Ch8nges in.. Trade and other debtors Trade and other creditors (62,133) 28,361 (50.300) 4.433 Cash g8n8ra18d from operaiions 116,083 (55.180) Interest recelved 8,097 1,716 Net cash frorril(used in) operating activities 124,180 (53,464) Cash Flows from Investlng Actlvltles Purchase ol t8ngible assets Net C8sh used in Investing activitias (160) {160) (69) 169) Net Increa8el(Decrease) In Cash and Cash Equlvalenls Cash and Cash Equlvalent5 at Beglnnlng of Year Cash and Cash Equlvalents at End of Yéar 124,020 45,251 169,271 (53.533) 98,784 45.251 Tho notes on pages 8 to 17 lonn part of th050 Ilnanclal statements.
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 General Inforniation The charity Is a public benefit entity and a registered charity in England and Wales 8nd is unincorporated. The address of the principal office is 124 City Road. LONDON. EC1V 2NX. Statement of Compllance These financial statements hav6 been prepared in compliance with FRS 102, The Financial Reporting Standard applicablè in ihe UK anrj the Republic of Ireland,, the Slatement of Recommended Practic8 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charibes SORP {FRS 102)> and the Charities Act 2011, Accountlng Pollcies (a) Basls of Preparatlon The financial statemenls have been prepared on the hlstOriC31 cost b8SiS, 83 rnodiffied by Ihe r8vAluation of certain financial assels and Iiabilili8s and investment properties measured al faif value through income or expenditure. The financial staiaments are prepared in st8rllng, which is the functs'onal currency of the entity. {b} Golng Concern There are no material uncertaintias about the charitls ability to continue. (c) Judgements and Key Sourc08 of Estlmatlon Uncertalnty The preparation of the financlal statements requires management to make judgements. estimates and assumptions thal affect the amounts reported, These estimates and judgements are continually reviewed and are based on experience and other factors. induding expectations of futuré èvents that are believed to be reasonable under the circurnstances. Significant judgements There were no Judgements (apart from those Involving estimations) that management has made in the process of applying the enlily's accounting Policies that have 8 most significant effeci on the amounts recognised in lh8 financi81 statAm8nls. Key sources of estimation uncertainty Accounting estimates and assurnplions are made concerning the ftjture and, by their natur8, will rarely equal Ihe related actual oulcome. There were no key assumptions and other sources of esiimation uncertainty that have a significant risk of causing a material adjustmant lo the carrying 8mounts of asssts and li8bililies within the next fi'nancial year. (d) Forelgn Currencles Foreign currency transactions are initially racor(Jed in the functional currency, by applying the spot exchange rate as at Ihe dale of the transaction. Monetary assels and liabilities denominated in foreign cijrrencies are translated at the exchang8 rate ruling at the reporting date. with any gains or losses being taken lo the statement of financial actlvities.
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (contlnu•dJ YEAR ENDED 31 DECEMBER 2024 A¢countlng Pollcles (contlnu•dJ (e) Fund Accountlng Unrestricted funds are available for use al the discretion ofthe Irustees to further any of the charilgs purposes, Restricted funds are subjecled to reslrictions on their expendilurè declared by the donor or through the lerms of an appeal. {fj Incomlng Re50urce6 All incom8 15 induded in the statement of financial activities when entitlement has passed to lh6 charity. it is probable that the economic benefits associated with the transaction will flow to the charity and tho amounl can be reliably measured. The following specific policies are appliod to parlicular categories of Income: income from donatj'ons or grants is recognised when there is evidence of entitlement to the gift. receipt is probable 2nd ils amount can be measured reliably. legacy income is recognised wh8n receipt is probable and entitlement is established. income from donated goods is measured al the f8lr value of Ihe goods unless this is impr8Ctical to measLtre reliably, In which case the value is derived from the cost to the donor or the esiimaled resale value. Donale(I facililies and services are recognised In the 8ccounts when received if the value can be reliably measured. No amounts are included for the CA)ntribution of general volunteers. income from performances is recognised when the perform8nce has laken place. Thls is classrfied as unreslricled funds unless there is a contraciual requir8ment for it to be spent on a particular purpose and ralurned if unspent, in which c8se It may be regarded as reslricted. Income from chantable trading activity is accounted for when earned. (g) Resource8 Expended Expenditure is recognised on an accruals basis as a Ilability is incurred. Expenditure includes any VAT which cannot b8 fully recovered. and is classifled under headings of the statement of financial activities to whir.h it r8lAtes'. expenditure on raising funds includes Ihe cosls of all fundraising activities, events, non-charilabl8 trading activities. and the sale of donated goods, expenditure on charitable actt'vities includes all costs incurr8d by 8 charity in undertaking activities that further its chanlabla aims for tho benefit of its beneficiaries, Including those support costs and c051s relating lo the govemance of the charity apportioned to charitable acbvilies. olher expenditure indudas all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable aclivities.
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS { contlnuod) YEAR ENDED 31 DECEMBER 2024 Accountlng Pollcles (¢onllnu•d) Resources Expended (conllnugdj All costs are allocated to expenditure categories reflecting the us8 of lh8 resource. Direct 5t5 ailributable to a single activity are allocated direct5y to thai activity. Shared cosls are apportioned beiween Ihe activiiies they contribute to on a reasonable, juslifiable and consistent basis. (h) Tangible Assets Tanglble assets are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assots carried at revalued amounts are reojrded at the fair value at the date of revaluaiion 1855 any subsequenl accumulated depreciation and subsequent accumulated impainnant losses, An increase in the carying amount of an asset as a resuli of a revaluation, is recognised in Oiher recognised gains and losses, unless it reverses a charge for impairment Ihat has previously been recognised as expenditure wilhin the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation. is recogniseo in other recognised gains and losses, except to which il offseis any previous r8valuation gain, In which case the loss is shown within other recognised gains and losses on the statement of financial activities. (l) Depreclatlon Depreciation is calculated so as lo write off the cost or valuatlon of an asset, less its residual value, over th8 useful economic life of that asset as follows: oiric8 equipment Musical Instruments and equipment 3 Years 3 Years U) Impalrm•nt of Flxed Assots A revlew for Indicators of impBirment is carried out at each reporting date. with the recoveratsie amount b8ing estimeted Wher8 such indicators exist. Where the carying value exceeds the recoverable amunl, the asset is impaired 8ccordingly. Prior impairments are also reviewed for possible reversal al each r6POrting date, For the pury)oses of irnpalrment testing, when it is not PO8slble lo esllmate Ihe r8coverable amount Of an individual asset, an estimate is made of th8 recoverable amount of the cash%eneraling unit to which the asset belongs. The cash4Jenerating unit is the smallest identifiable group ot assets that includes the asset and generates cash inflows Ihal lar9ely independenl of the cash Inflows from other assets or groups of assets, For impalrment testing of goodwill, the goodwill ac4uired In a business ¢J)mbination is. frorn the acquisition date, allocal8d to 8ach ofthe cash-generaling units that are expeciets lo benefit from the syn8rgies of the combination. irresp8clive of whelher olhor assets or liabilitses of the charity are assigned to those units. -10-
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (¢ontlnued) YEAR ENDED 31 DECEMBER 2024 Accountlng Policies (¢ontlnu•dJ (k) Flnanclal Instrumenls A financlal asset or a financial liability is recognlsed only when the ch8rity becnmes a paty to Ihe LX)ntractual provisions of the instrument. 8asic financi81 instruments afe Initially recognised at the amount receivable or payable includlng any related Iransaction cosls. Current assels and CLsrr8nt liabilities are subsequently maasured at Ihe cash or other consideration exp8Cted10 be paid or received and nol discounted. Debt irbslruments are subsoquenlly measured at amortised cosl. whe investments in shares are publicly traded or their falr value can olherwise be measured reliably. the investment is subsequently measured atfair value with changes in fair value recognised in income and expenditure. All olher such Investmenls are subs8quenlly measured at cost 16SS impairm6nt, Other financlal inslrumenls. including derivalives, are initially recognised at fair value, unless paym8nl for an assel is (ieferred beyond norm81 business terms or financed at a rale of interest that is not a market rate, in which case the assel is me8surecl al Ihe present value of the future payments discounted al a market rale of Interest for a similar debl in51rument. Other financial Instrumenls are subsequently measured at fair valu6, with any changes recognised in the statement of financial activities. with the excepiion of hedging instruments in a designated hedging relationship. Financial assets that are me3sured at cost or amortised cost are rewewed forobjeclive evidence of impairrnent at the end of each reporting dale. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the inits'al gaSn wa5 regnised. For 811 equity instrurnenls regardless of signrficance, and oth8r financial assels Ihal are individually significant. Ihese are assessed individually for impairment. Other financial assots are either 8sse55ed individually or grouped on the basis of similar cre(lit risk characteristics. Any reversals of irnpairmenl ar8 recoonlsed irnmedlaloly. to thè extent that ihe reversal (loes nol result In a carrying amount of the financial asset that oxceeds what the Garrying amount would hav8 bean had the ifflpairmenl not prevlously been recognised. (l) Deflned Contrlbutlon Plans Contributlons lo defined contribution plans are recognlsed as an expense in the period in which the related service is provided. 11
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (conunuqd) YEAR ENDED 31 DECEMBER 2024 Donatlons and Legacles Unrestricted Total Funds Unrestricted Tot81 Funds Funds 2024 Funds 2023 Donations Donations Gift Aid 11.648 20,856 11,648 20,856 9,913 21.026 9,913 21,026 Legacles Legacies 180,000 180,000 Subscrfpllons Membership Subscriptions 122.230 122,230 334,734 98,965 98,965 334,734 129.904 129,904 Charltable Actlvltles UnrgStncl8d Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Ino)m8 from Events Performance FBes 139,458 94,735 139,458 94,735 234,193 128,648 50,462 128,648 50,462 234,193 179.110 179.110 Other Tradlng Actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Mgrchandising Income 4,328 4,328 3.148 3.148 Inv•stm•nl Income Unreslricted Total Fund8 Unr@slricled Total Funds Funds 2024 Funds 2023 88nk inter8st receivable 8,097 8,097 1,716 1,716 Other Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funos 2023 Other income Employm8nt Allowance Members contribution to travel costs 1,250 5,000 10 1,250 5,000 10 5,000 18.867 5.000 18.867 6.260 6,260 23,867 23,867 12-
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS(Gontlnu•dl YEAR ENDED 31 DECEMBER 2024 Costs of Ralslng Donalions and Legac1•8 Unreslricled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Fund Raising Expenses 622 622 10. C0819 of Olhor Tradlng Actlvlllag Unrestricied Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Costs of other tradlng actswlies 1.854 1,854 5.309 5,309 11. Expendllure on Charltable Activltles by Fund Type Unrestricted Total Funds Unr8Stricted Total Funds Funds 2024 Funds 2023 Cost of Events Support costs 142.770 243.771 142,770 243,771 145,647 217,571 145,647 217.571 386,541 386,541 363.218 363,218 12. Expendlture on Charltable Actlvltles by Actlvlty Type Activities undertaken dlrectly Support costs Total funds 2024 Total fvnd 2023 Cosl of Events Govemance Costs 142,770 233,269 10,502 243.771 376,039 10,502 348,986 14.232 142.770 386,541 363.218 13. Analysls of Support Costs osl of evenls Governance Total 2024 Tolal 2023 Slaff costs Premises Communications and IT General office Finance costs 93.687 6.001 490 6,729 270 93,687 6,001 490 6.729 270 82,424 2,460 183 6,046 308 13.
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS{ conllnu•dJ YEAR ENDED 31 DECEMBER 2024 Govemance costs Rehearsals and Bursaries Music Team (Core> Deprecialion Travelling expénses 10,476 10,476 72,370 36,934 26 14,788 243,771 14,232 61,198 40,940 72,370 38,934 26 14,788 9.780 233,269 10,502 217,571 14. Oth6r Expendltur Unrestrict8d Total Funds Unreslricl8d Total Funds Funds 2024 Funds 2023 Donations to Charities frorn Show Inme 1,153 1,153 3,445 3.445 15. Net IncomèllExpenditure) Net Incomel(expenditure) is slated after chargingllcrediting).. 2024 2023 Depreciation of tangible fixed assets Foreign exchange differences 28 140 16. Independont Examlnatlon Fe•s 2024 2023 Fees payable to the Independent ex8min8r for., Independent examination of the financial 51atem8nts 480 480 17. Staff Costs The lotal staff Costs and employee benefits for the reporting perfod are analysed as ft)llov.' 2024 2023 Wages and salaries Social security c051s Employer contributions to pension plans Other employee benefits 78,375 8,228 5,342 1,742 71.107 7.322 93,687 82,424 The average head couni of 8Tnployees during the year was 2 {2023.' 2). The average number of full- time equivalenl employees during the year is analysed as follows- 2024 2023 No No Management Employment allowance of £5.00012023:. £5,000) was claimed against the above costs. 14-
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION conflnu•d) NOTES TO THE FINANCIAL STATEMENTS ( YEAR ENDED 31 DECEMBER 2024 17. Staff Costs l¢ontInu) No employee receiv8d employee b8nefits of mor8 than £60.000 during Ihe year (2023: Nil). 18. Trustee Remuneration and Expens•8 No rernuneralion or olher benefits from employment with the charity or a related entity were received by lh8 Iruslees. 19. Tanglble Flx•d Assats Fixtures and fitlings Equipment Total Cost At 1 January 2024 Addilions 1,179 160 5,300 6,479 160 At 31 Decembér 2024 1,339 5.300 6,639 Oepreclatlon Al 1 January 2024 Charge for the ye8r At 31 Decemb•r 2024 1.110 26 5.300 6,410 26 1,136 5,300 6,436 Carrylng amount At 31 December 2024 203 203 At 31 December 2023 69 69 20. Debtors 2024 2023 Event debtors Prepayments and accrued income Income tax recoverable Other debtors 110,001 37,509 24,630 2,331 174,471 42,700 6,102 37.486 86,288 21. Credltors: Amounts Falllng due Wlthln One Year 2024 2023 Event creditors Accruals and deferred Income Soci81 security and other tsxes Other creditors 45,798 13,644 1,961 52 16,603 27,732 2,773 74 61,455 47.182 15-
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS {contlnued) YEAR ENDED 31 DECEMBER 2024 22. Penslons and Other Post Retlrement Beneflt8 Doflnad contrlbutlon plans The amount racognised in income or expenditure as an expense in relation to defined coniribution plans was £5.34212023: £3,995). 23. Analy813 of Charltable Funds Unreslrlcted funds At 1 January 202 At 31 D•cemb8r 2024 Income Exp8ndilure Genéral funds LGMC + Group Seebed Community Fund 76,547 50 4,055 80,652 587.612 (389,5481 274,611 50 4,055 587,612 (389.548) 278,716 At 1 January 202 Al 31 December 2023 Income Expenditure General fvnds LGMC + Group Seebed Community Fund 111,396 50 4,055 337,745 (372,S94) 76.547 50 4,055 80.652 115,501 337,745 (372,594) Restrlcted funds At 1 Janu8ry 202 At 31 December 2024 Income Expenditure Derek Butler Trust Fund Bursaries Fund 3,134 640 3,134 640 3,774 3,774 Al 1 January 202 At 310ecember 2023 Income Expendilu Derek Butler Tnjsl Fund Bursaries Fund 3.134 640 3,134 640 3,774 3,774 16-
LONDON GAY MEN'S CHORUS CHARITABLE INCORPORATED ORGANISATION NOTES TO THE FINANCIAL STATEMENTS (conflnuod) YEAR ENDED 31 DECEMBER 2024 24. Analysls of Net Assets Between Funds Unrestricled Funds R8stricted Total Funds Funds 2024 Tangib18 fixed assets Current assets Credilors less than 1 yoar Net assets 203 339,968 161.455) 278.716 203 343,742 161,455) 282,490 3,774 3,774 Unreslricted Funds Reslricted Total Funds Funds 2023 T2nglbl8 fixed assets Current a55ets Creditors less than 1 year Net assets 69 127,765 (47,182) 80,652 69 131,539 (47,182) 84.426 3,774 3.774 25. Analysls ol Changes In Net Debt At Al 1 J8n 2024 C8sh flows 31 Dec 2024 Cash at bank end in hand 45,251 124,020 169,271 17-