THE TEMPLE Music FOUNDATION A company Limited by guarantee FINANCIAL STATEMENTS For the year ended 31" December 2025 Registered Company No 4594413 Registered Charity No 1095141
TheTempl8 Muslc Foundatlon Financial statements forthe year ended 31st December 2025 Contents Report of the Trustees Report of the independent examiner Statement of financial activities Balance sheet Notes to the financlal statements
The Temple Music Foundation Financial statements forthe year 8nded 31st D8cember2025 Report of the Trustees Profile of the charity Governing instrument.. Memorandum and Articles of Association dated 10" September2002 and amended by Special Resolutions dated 24 lune 2011 and 11 May 2017 Directors: Guy Beringer KC (Hon) C8E (Chairl Michael McL8ren KC Katie Bradford lan Moyler Sir Christopher Clarke Sir Martin Spencer Philip Havers KC (to 14 F8bruary20251 Daniel Toledano KC Rosamund Horwood-smart KC Robertvenables KC Jenniter Jonas The directors of the comp8ny are also Trustees of the charity and are referred to throughour this report as "Trustees" The charitable company is referred to as the "charity" Registered Office: TheTreasuryOffice Inner Temple London EC4Y7HL Bankers: Royal Bank ofscotland St Paul's Branch London EC4M 7EJ Independent Examiner: David Wheeler F.C.C.A. Cheeld Wheeler & Co Chartered Certified Accountants Redhill Chambers, 2d High Street. Redhill. Surrey RH 1 1 RJ The Trustees present their report with the financial statements of the charity for the year end8d 31 December 2025. The Trustees have adopted the provisions of 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 United Kingdom and Republic of Ireland IFRS102). This repon includes the report of the directors required bycompany law. ObJe¢tive of the charity The promotion of public appreciation and understanding of music by assisting in any way th8 performance of music for the benefit of the public or any section of the public and in particular the public performance of choralmusic in the Temple Church London. The Trustees confirm thatthey have complied wlth their duty underthe Charities Act 2011 to have (Jue regard to the public benefit guidance published by the Charity Commission for England and Wales. The Trustees further confirm that the activities of the charity are carried out, in line with its obj8Cts. for the public benefit.
The Temple Music Foundation Financial statements forthe year ended 31st December 2025 Report of the Trustees (continued) Trusiee Recruitment and Training Because of the charity's close links with The Honourable Society of the Inner Ternple and The Honourgble Society of the Middle Ternple I'the Inns"), Trustee5 are recruited primarily from the members of the judiciary and the Bar. Selection is made by the board on the basis of the particular skills that putative Trustees can offer. Roviowof progress and achievements TheTemple Music Foundation had a full programrneofconcerts in 2025,featuringa pertormance by Gabrieli Consort & Players of Handel's Solomon, a fully-staged production of Parsif81 IAct111 with the Prelude to Act11, the Early Opera Company in Rameau's gMa110n. plus chamber music. song recitals, and choral concerts from the Temple Singers and the Temple Church Choir (featuring new works commissioned for those choirsl as well as the Hoist Singers. The charity reached 8n audience of 8,39012024.. audience of 9,0001. Sponsorship of concerts by indivi(Ju818, chambers and corporations was particularly high this year because of strong support for Parsifal, but lemained relatively low compared to costs, leading to a deficit of £109,967 on the non-choir programme. A pool of 12 volunteers provided approximately 540 hours of assistance on concert days during 202512024.. 12, 4501. Temple Church Cholr As in previous year5. donations amountingto £60,000 were received in 2025 from The Honourable Societies of the Inner Temple and the Middle Temple to promote the Choir's non-liturgical activities including concerts. broadcasts. recor(Jings, training and tours12024.' £60,0001. Ticket sales contributed a further £23,543 12024- £29,718). Choir-related expenditure amounted to £88,98312024.' £86,8031 resulting in a net deficit for the year of £5,44012024 surplus.. £2,915). Ftsture Plans The Trustees would like to thank Roland D811er. CEO, for his leadership. Roland, whose final concert W03 Dn 15 Dcccmber 2025. foptored Signif iGant growth of the 8nnu81 T8mple Music progr8mme. and g8rnèred a reputation for programming eye-catching and worl(J-class concerts. In january 2026 wewelcorned a newCEO, Robert Ogden. Robert's art8 administration experience has been gained as Artistic Director since 2009 of the thriving Northern Aldborough Festival. A former operatic countert8nor, Robert was a choral scholar 8t King's Colleg8 Cambridge, before training at the Royal Northern College of Music and the Netherlands Opera Studio. The programme for 2026 includes return visits by the Gabrieli Consort and the London Mozart Players, a large-scale choral performance of Messiah, accompanisi Julius Drake with mezzo-soprano Dame Sarah Connolly. soprano Masabane C8cilia Rangwanasha and baritone André Schuen and a recital by Dame Imogen Cooper in herfinalyearas a performer. Financial Revlew The charity had income of £513.097 12024: £479,975) and expenditure of £628,504 12024: £393.6981 resulting in a deficit of £115,40712024 surplus: £87,485). There were no investment gains or losses12024'. a realised gain followinp the di8PO8al of inve8tment5 of £1,208). In total. the charity's reserves therefore decreased from £206,396 to £90,989. Grant MaltiNg P4Jlicy The charity's policy is to make grants to support the musical educ8tion and activities of the Temple Church Choir.
The Temple Music Foundation Flnancial statements forth8 year ended 31st Decemb8r 2025 Report of the Trustees (continued) Reserves po(icy During the yearthe Trustees approved a new reserves policy.. to hold general reseeS and Church Fund reserves equiv81ent to between three and six months, expenditure in or(Jer to ensure financial stability and act as a Safeguard against volatile and unpredictable income streams and unforeseen expenditure or liabilities. Based on average expenditure for the last four years. this is 8 range of £80-160k for general reserves and £23-45k for the Choir Fund. At 31 December 2025 the ch8rity's general rese(ves were below this range. They totalled £90,98912024= £206,396), of vvhich £59,875 was held in the General Reserve and £31.114 in the Choir Fund ReseNe. The Trustees willworkwith the new CEO to bring reseNes backwithin the level indicated bythe policy. The Trustee8 monitor the level of reserves as part of their review of the management accounts. Annual revlew of the budget ensures that adequate levels of reseNes are rnaintained. The Trustee reviews the reserves policy when circumstances change and at least onnually. Risk As a gener81 policy. the Trustees review the risks to which the charity is exposed as part of the process of considering and planning all events and activities. The principal risk to which it is routinely exposed is that of security offunding. Consequently, no activities are undertaken unless funding is in place leither directly or through reseNesl or 8rrangements for the underwriting of costs have been made. The Tiustees continue to pay particular attention to the financi81 impact of sponsorship, audience numbers and the availability of performers an(J venues. Statement of Trustees. r8spon$ibi(ities The Trustees (who are also the directors of the charitable company for the purpose of company lawl are responsible for preparillg a Trustees, 8nnLJal report and financial statements in accordance with 8pplicable law and United Kingdom Accounting Standards (United Kingdom Generally Recognised Accountancy Practice). Company and Charity laws require the Trustees to prepare financial statements for each financial year which give a true 8nd fair view of the state of affairs of th8 charitable company as at the end of the financial year and of the surplus or deficit of the charity- In preparing those financial statements the Trustees are required to:_ Select suitable accounting policies and then apply them consistently. obSee the methods and principles in the Charities SORP- Makejudgements and estimates that are reasonable and prudent- State whether applicable UK accounting standards have been followed, subject to any natural (iepartures disclosed and explained in the f inancial statements. Prepare the financial staternents on the going concern b8sis unless It Is Inappropriate to presume that the charitable company will not continue on that basis. The Trustees are responsible for maintaining proper accounting records which disclos8 with reasonable accuracy at any time the financi81 position of the charltable company and to enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act 2011. They are 81s0 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of frBud an(J other irregularities. The financial statements on pages S to 10 were approved by the Trustees on [DATE] and signed on their behalf- Guy Beringer KC IHonl CBE, Directorand Trustee
Independent Exarniner's Reportto the Members of The Temple Music Foundation I report on the accounts of the charity for the year ended 31 December 2025, which are set Dut on pag28 5 to 10. Responsibilities and basis of report. The charity's Trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the accounts in accordance with the requlrements of the Companie5 Act 2006 Ithe 2006 Act), and the Charities Act 2011 (the Actl- The charity's Trustees considerthat an audit is r)ot required for this year under part 16 of the 2006 Act and that an independent examination 19 needed. I report in respect of my examination Df the charitable company's accounts as required under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charities Commission under section 1451Sllbl of the Act. Independent Examiner's Statemont As the charity's income ex¢eeds £250,000 an examiner must be a memberof a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because I am a qualified member of the Association of Chartered Certified Accountants. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. Accounting records were not kept in respect of the charity as requiied by section 130 of the Act., or 2. That the accounts do not accord with those records 3. That the accounts do not comply with the applicable requirements ¢oncerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than the requirement that the accounts show a "true and fair view" which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr David Wheeler F.C.C.A. Cheeld Wheeler & Co Chartered Certified Accountants Redhill Chambers 2d High Street Rcdhill. Surrey. RH1 1 RI (q
The Temple Music Foundation Flnancial statements for the year endod 31" D8cembgr 2025 Statement of financial actlvities includingthe Income and Expenditure Account Total Funds 2025 Tot81 Funds 2024 General Restricted Fund Funds Choir Fund Notes Incometrom: Donations and legacies Charitabl8 activities= Concerts 1{d) 108.808 156,902 60,000 325,710 350.766 161.662 23,543 185.205 126.803 Investments 2,182 2,182 2,406 Total Income 272,652 156,902 83,543 513,097 479,975 Expenditure on: Raising funds 12081 1208) 114.085) Charitable acrivities: Concerts 1380,6611 1145,9021 {88.9831 {615.546) f377.913) 111.0001 {11,000) Grants Governance costs 11,7501 (1.750) (1.700) Totalexponditur8 1382,6191 1156.9021 {88,9831 {628,504) f393,698) Net gainsll(osses) on investments Transters between funds 1,208 Net movement In ndS (109,9671 (5,440) {115,407) 87,485 Reconciliation of Funds: Total funds brought toiward 169,842 36,554 206,396 178.917 Total funds ¢arTied forward 59,875 31,114 90,989 206.396 The 8tatement of tinancial activities includes all gains and Ios5e5 in the year. All income and expenditure derive from continuing activities. Thg notes on pages 7 to 10 form part of these financial statements.
TheTemple Mu$1¢ Foundation Financial statements forthe year ended 31°, December 2025 Balance Sheet as at 31"December 2025 Registered Company No 4594413 Unrestricted Funds 2025 Choir Fund 2025 Total 2025 Tot81 2024 Notes Fixed assets-. Tangible assets 1,796 2,604 4,400 3,495 Investm8nts 2,604 4.400 3,495 Current a$$et$: Stocks 3,024 3.024 Debtors 12.123 67 12.190 59.876 Cash at bank and in hand 105,413 38.125 143.538 295,205 117.536 41.216 158,752 355.081 Creditors: amounts falling due within one year 159,4571 112,7061 172.1631 (152, 180) Net current assets 58,079 28,510 86,589 202.907 Total net assets 59,875 31.114 90,989 206,396 The funds ofthe Charlty: Totalfunds 59.87S 31,114 90,989 206.396 TheTrustees Consider that the Charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companie8 Act 20061.the Act-l and have eonfirmed that no notice has been deposited undgr Sg¢tion 476 of the Act. The Trustees have acknowledged their Tesponsibilities for ensuring that the charity keeps accounling records whi¢h ¢ompLy with Section 386 of the Act and for preparing accounts which give a true and lairview of the charity and of its surplus for the year then ended in accordance with the requirements of Section 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to the 8ccounts, so f8r 08 applicable to the charity. The financial statements are prepared in accordance with the provi8ions of the 8mall ¢ompanigs reEime within Part 15 ofthe Companies Act 2006. The financial statements on pages 5 to 10 were approved by the Trustees on [DATEI and signed uii tlieir beliyll: Guy Beringer KC (Hon). CBE Iq The notes on pages 7 to 10 form partofthese tinancial statements.
The Temple Music Foundation Notes to the financial statements forthe year 8nded 3181 December2025 Statutory informatlon The charity is registered in Eng18nd and Wales as a company limited by guarantee, number 4594413. The registered office is atThe Treasury Office, InnerTemple, London EC4Y 7HL. 1. A¢Gounting pollcles Basis of preparingthe financ181 staternonts The financial statements of the charity have been prepared in accordance with the Chaiities SORP IFRS1021 "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordancewith the Financial Reportingstandard applicable in the United Kingdom and Republic of Ireland IFRS1021" and the Companies Act 2006. The financial statements have been prepared underthe historical cost convention. The charity constitutes a public beneflt entity as defined by FRS102. bl Incom Donations. interest and investment income are accounte(J for when receivable. Legacies are accounted for when received or otherwise if amounts are known with certainty- Expendlture Direct charitable expenditure comprises SeiceS supplied and activities undertaken. which are identifiable as wholly or mainly in support of the charity's objectives. Grants, prizes and scholarships are accounted for when awarded. Those costs shown as Governance relate to compliance with constitutional and statutory requirements. Costs of Generating Funds comprise fundraising costs. All support costs are allocated to musical events as those relating to grants are deemed negligible. dl Restricted Funds Donations received for a specific concert are reported as Restricted Funds. Choir Fund Following the transfer of responsibility for promoting the Temple Church Choir to the charity in 2018, funds brought forward at the start of the year and any surplus I deficit from activities undertaken during the year are reported as part of a segregated fund and may only be used for the benefit of the Choir. f} Investments Investments are reported at m8rketvalue in accordance with the Charities SORP. See Note 5. Fixed Assets Office equipment and software. including the website, are depreciated at a rate of 25% on cost peryear. The piano is depreciated at 5% on cost peryear.
TheTemple Music Foundation Notes to th8 financial statements for the year ended 3181 December 2025 (continued) 2. Expenditure General Restricted Fund Fun(J Choir Fund 2025 2024 Charitable activities Costs ofmounting concerts Direct costs of concerts Support costs 248.313 145,902 88.983 483,198 260,884 132,348 132,348 177,029 380,661 145,902 88,983 615,546 377.913 Grants GranttoTemple Church 11,000 11,000 Governance costs Independent Examiner's remuneratlon 1,750 1,750 7,700 3. Trustees None of the Trustees received any reimbursement of expenses or remuneration for their seNices during the year. 4. Tangible Fixed Asset$ Equipment Cost at 1 January2025 Additions 23,982 1,531 11,8271 23.686 Disposals Cost at 31 December 2025 Depreciation at 1 Janu8ry 2025 Disposals Charge for the year Depreciation at 31 December 2025 120,4871 1,827 16261 119.2861 Nei bookvalue at31 December2025 4,400 Netbook v8lue at 31 D8cernb8r 2024 3.495
The Temple Music Foundation Notes to the financial statements for the year ended 31 December 2025 (continued) 5. Investments 2025 2024 130 shares in Unilever plc (donated in 20081 The shares were sold in November 2024. The 2024 statement of financial activities showed a gain on revaluation to the point of sale of £1,208. 6. Stock 2025 2024 CD 8nd DVD Recordings Ichoir Fund) 7,509 4.485 Provision for slow-moving stock 14.4851 3,024 (4.485) 7. Debtors 2025 2024 Tra(Je debtors 8. 730 Prepayments 222 9,965 Accrued income 135 Other 11,833 47.181 12,190 59.876 Credltors: amounts falling due within one year 2025 2024 Trade creditors lofwhich, Choir Fund £7,996, 2024.. £nill Accruals lof which, Choir Fund E4.710. 2024: £6181 27.902 41.544 16,158 9.103 Deferred income 6.917 75.647 Other creditors 21,186 25.886 72,163 752.180 Deterred income relates to sponsorship income, ticket sales, donation8 and similar relating to events thatwill take place in the followingfinancial year. Allamounts deferred are released to income In the financial year to which the income applies.
TheTemple Music Foundation Notes to the financial statements tor the year ended 31" December 2025 (continued) 9. Movement in Funds Net Movement in funds At1.1.25 At31.12.25 Unrestricted funds General Fund 169,842 1109.9671 59,875 Restricted funds Choir Fund 36.554 15,440} 31.114 Totalfunds 206,396 1115,4071 90.989 10. Rèlated Party Transactions During the year, the charity received generous donations from its President, Trustees, third party trusts controlled by the Trustees and its Members amounting to £52,70312024: £67.775}. 11. Commltments At the year end, the charity had no contractual commitments to expenditure12024: zero). 12. Going Concern The charitable company has substantial cash resources to ensure that it is able to meet its financial obligations and there are no material uncertainties and consequently the Trustees are satislied th8t the charity continues to operate as a going concern. 13. Taxation SlatU8 The charitable companyls exemptfrom the requirementto pay Income and Corporation Tax on its income. but accounts for V81ue Added Tax on its ticket sales and the sales of music. 14. Employee C03t$ DuTingtheyear, two members of staff were employed, neither of whom was paid in excess of £60,000. Total staff costs and employee benefits were £87.28912024: £89,382). made up of salaries £75,66112024: £70,990). other benefits £2.01712024: £4,003): social security costs net of employment allowance £1,99912024: £7,290); and pension contributions £7.61212024: £7,0991. 10-