Company no. 05052052 Charity no. 1110790 Crouch End Festival Chorus Report and Independently Examined Financial Statements 31 July 2020 A9J5WWZ 1)4112Q020 COMPANIES HOUSE A18
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Crouch End Festival Chorus Referen and administrative dp*tails For the ¢arftnded 31 July 2020 Company number 05052052 Charlty number 1110790 Prlnclpal and reglstered office 18 Slantwe Garden$ London N4 IHT Chair Felicity Ford Trustè•s Trustees. who arg also directors under company law. who served duriThJ the year and up to the date of this repmyt wer& as folknvs: Catherine Best Felicity Ford Robert Gorrie Thomas Halliday Pauline Hoe Duncan McAJpine Julia TaWor Lucy Whitman (appointed 8 Augusl 20201 (retired 14 October 2019) {appoinled 10 August 2020) Secretary Lucy Whitman Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Independent examiners . Godfrey Wilson kn"miled Chartered accountsnts and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QO
Crouch End Festival Chorus Report of the Irustees Forth• ar ended 31 Jul 2020 The Iruslees present their report and the independently examined financial statements for the year ended 31 July 2020. Ref¢Trn¢e and adminislralive infomiation set out on page 1 forms part of thi5 report. The financial statements comply with current statutory requirements, the Memorandum and Articles of As50cialion and the Stalemenl of Recomrwided Practice - Accwnling and Reporting by Charities (effective from January 20151. Structure, governance and managefflerit Stru¢tur•: The organisation 1$ a tharitable COranY fimiled by warantee. incorpora16d on 23 February 2004 and registered as a charity on 9 August 2005. The Company was established under a Memorandum of Association which established the objects and powKrs of the charitable company and is governed under its Articles of Associatn. In the event of the company being wound up members ar8 required lo contribute an amount not exceeding £10. Governance and Management: The trustees have adopted a tsw-tier slructure for the manag6menl of the charitable company. The board of trustees is responsible for the strategic management of the charitable company, setting policies. developing business plans and approving the annual budgeL The charitsble company is managed on a day-tfrday basis by a management committee which reports the trustees. The charilabte company engages Ihe services of the nsIC director. acc(Mnpanist and bookkeeper under contract and a destgner for some ol our marketing materials. All other activities of Ihe company are currently undertaken by choir members on a voluntary basis. The rules of membership of the chorus underfine the ethos that all choir members a expected to contn.bute to ils effective running. The WOTkhJad is shared wdely thrtyjghout the choir. in Ihe fomi of .volunteer teams which report lo the rnanagemenl committee. Trustees and members of the managennt committee a ebected by members of the charitable company at its Annual General Meeting. Members of the managenpnt committee hold office until the followng AGM. Al each AGM. onlhird of trustees (being those who have been longesl in office since their last appoinlmentl are required to retire bul can be reélected. New trustees may be coPIed by the board between AGMS. and their appointThEnt ratified al the following AGM. Trustee recruitment: The Injslees regularly review skills and diversity in considering succession and appointment needs. Potential new Iruslees are drawn mainly from among choir members. with an extemal Iruslee occasionally soughL The role description and lemis of reference are available on the singers, website and choir rnembers are alerted to board vacanaes through notices. email and word of mouth. Inlefested candidates are inteN1ed by a small group of Iruslees. The successful can¢Yidale is invited lo attend a trustee meeting. before being co-opted to the trustee board with a formal appointment being madg at the Annual General Meeting. Risk manag•mont: Major risks facing the tharitable company are Mlentified and recorded on register which is regularty reviewed and discussed by Ihe trustees. Eath major.type of risk. and ils potential impact, is assessed and scored by the tnjslees in consuttation wlh the managèment committee. and the action taken to mib.gale this risk is noted. No organisalion can be risk-free, but the trustees consider that the range of measures and controls pul in place to identsfy and mitigate major risks has reduced the nomml nsks faced by Crouch End Festival Chorus io an acceptsble level.
Crou¢h End Festival Chorus Report of ts Intstses For th• ar •nded 31 Ju 2020 However. Ihe cnronavirus pandemic has thanged the extemal environment beyond recognition and the tTUStees have mitigated this considerable risk through mnthly meets.ngs wlh the General Manager and Finance Manager. review of all contracts and financial exposure and nSidered actions lo reduce risks around financial loss. membership loss and h)ss of pubhc profile. There remain5 considerable uncertainty as to the length and extent of the impact the cuThent Covid-19 pandemic will have on the choirfs activities. As a result of the pr&Covid strength of dernand for the choirfs invofvemenl in professional engagements and recordings. the choir is in a strong financial position. There are clear controls in place to ensure that remains the case. A budget for Ihe year 2020-21 vknich nlY covers running costs and already wnmitted expgnditure items has been agreed by the InJslees. This would result in a year-end cash balance above the target band in our reseNes policy. Any concerts. recordings or other activities which become possible during the year wll be individually budgeted and appruval to proceed will only be gNen by the trustees after an up104Jale assessment of the prevailing conditions and the outlook for the choi¢5 finances. The reative and determined approach of the management committee and Music Director lo finding ways in which the choir ean remain musically active and in the public eye arè lo be Commended and wll mitigate risks to membership and putatiOn. We remain in a strong positi.on to make the most of the opportunities that arise and are confident that the charity wll continue as a going concern for a period ol at least 12 months from the date on which these financial statements are approved. The trustees therefore consider il appropriate to wJ¢Jpt the going concem basi5 for the preparation of the accounts. Public benefit: The trustees consider that they have complied viith Seth"on 17151 of The Charities Acl 2011 to have due regard lo the public benefit guidance published by the Charity Commission. Objectives and activities Objects of charity as stated in the ¢onslitutlon: To promle. improve. develop and maintain appreciation and eduealion of the public land in particular the communty of Crouch Endl the art and science of music, and in parb"cular of choral mu5ie, by the pSentation of concerts and recitals. the holding of workshops and by such other activity as the management comffmttee may from time to time determine. Our mission." To engage and inspire a growing audience through eXcenI singing. audacious programming. high44uality recordings and comnNssioning new ¥Ik$. Strategie plan: The mission slaleff*nl 1$ underpinned by the charivs values and aims for achieving our mission. The trustees. Nwjrking wth the management committee. have a three-year strategic plan lor the charity lo ensure that we continue lo be artistically ambitious and financially secure, with a vibrant and tslenled membership an(J engaged audi8n¢8s. We regulaty review the plan and assess progress towards our aims and objectives.
Crouch End Festival Chorus Report of th• trusttts For the arended 31 Ju 2020 Aim 1: To be musicalty ambltiou$ and ex¢•lbn( enhancing our reputation as a leading $phon1C chorus. . Pmduce the highest qualty rnusiuansthp in &ngers and perfonnance, WothsIP5, mu&cianship. conductor mentees In 20120 we introduced our first Young Conduelors Mentoring Seheme, with the aim of sharing our love of choral music ryth the conductors of the future and enabling them lo leam from our Music Direclor's considerable experience and lalents. Mariana Rosas. who is OfTginally from Argentina and studying for a Masters in Choral Conducting al Bimiingham University, and Matthew Quinn. a slu¢Jent at Manchester University and the Royal College of Mu$i¢. were selected from de range of aspiring conductor5 for the programme 7fvthich ran from September 2019 to July 2020. 11 proved to be an exlremely fruitful partnership, with both conduclors growng in slalure and expertise throughout the year. The choir also benefited from additional input into rehearsals, some excellenl wam74JP5 and Seeing more of ihe conduding process than we are nomally aware of. This programme gnifiCanty contributed to Ihg ongoing improvement of the ehoirfs musicianship. A workshop for Puccini's Messa di Gloria with singers dravm from our k)cal COMJnity in Crouch End was planned for June but was cancelled due to the CovwJ-19 lockdovm". Cre8te advenlurous seasons Our ambitious progranyne for 20120 shows the variety of swes and genres lor which CEFC is renowned. We always se&k to inspire and grow our audience5 for our own promotion5 by performing in a mixture of kxal north London venues as well as central London concert halls. We also use children's and youth choirs wher8 appropriate. for example in Stravinsky Symphony of Psalms, which we perforned in Febnjary. and in Britten St Nicolas. whith we intended to perform in April. lo enable us lo buikl the perfomiers.and audiences of the ftjture. Sadly our last perfomiances this season had to be cancelled due to the Coronavirus pandemic. We anb'cipale putting on similar concerts in the fvlure and are hoping to record sorne of the mu&c in the near future. Our 2019-20 $eason: Beethoven Missa Solemnis. 5 October 2019, Queen Elizabelh Hall", Sing Christmas. 21 December 2019. St Miehael's Highgate- Glass Ilaipu, StravÉnsky Babel and Symphony of Psalms. Ives The Unanswered Question. 2 February 2020. Queen Elizabeth Hall., Britten Saint Nicolas. Haydn Missa Sancti Nicolai. 18 April 2020. Queen Elizabeth Hall Icaneelledl., and Monteverdi Beatus Ifir and xit Dominus. Duke Ellington Sacrnd Concert. 27 June 2020, St James's Piccadilly (¢ancelled}. Initiate, develop and manlain worting rnlationships with eXcrt9 artistic partners and Igading venues and promoters The plans for 2019-20 were fvll of b¢n9$ to vKJrk with excitmg arb.stic partners. al leading venues and for a wide range of promoters. We renewed our partnership wth Karl Jenkins (Karl Jenkn'ns 7Sth Birthday concert with the Royal Philharmonic Or¢heslra. 13 October 2019. Royal Albert Hall) and Andrea Bocelli {Andrea Bocelli Si Wodd Tour, 19 October 2019. Resorts wCd Arena. Birmingham) as well as Kings College Cambridge {Christmas wilh Kings College Cambridge Choir. 16 December 2019. Barbi¢an Hall).
Crotsch End Festival Chortss Report of th• trust••s For th8 ar•nded 31 Jul 2020 Our Proffl this year wras a first for mst of us. with the choir takiThJ one of the four leading symphonic choir parts aktrngside four community choirs singing in the round in the Albert Hall on a Sunday WrnIng (Prom 66. John Luther Adams In the Name of the Earth. 8 September 2019. Royal Mbert Hall). Film $cening$ were enhanced wth our live singing in prestigious events (Philharmonia Orchestra. Livg filffl Screening of Watton Henry V. 7 November 2019. Royal Festival Hall and Live rilm screening of rim 8urton's The Nightmare Before Christmas with Danny Elfman. 4 and 5 December 2019. SSE Arena Wembley). Many other engagements were booked to finish off Ihe season bul due lo lockdown they have all been postponed. . hAake ambi&t)us and cn"bcalty successfvl recordings Making gd use of funds had sel aside to promote our recordings and funds donated specificalty for the purpose. we negotiated Nmth Signum Records to pull together a recording of Britten'5 Saint Nicolas al Aexandra Palace on 13 and 14 March 2020 Viith the 88C Concert Orchestra. Although restrictions were being planned we managed to complete the recording in a socially4islanced manner in the wonderfulty $tored auditorium of the historic Alexandra Palace Theatre. Britten's A Cgremony of CanS aecompanies the work. The recording was released in Novemb8r 2020. OLtr recordings of Parrfs Judith wth William Vann arKI LIlon Mozart Players on Chandos Records, and of Amokj Rosnerfs Requiem ith the London Philham)nic Orthestra on T(cata Classics. came out to great critical acclaim. . Commissw new wo$ frorn a range ofcompose As a new approach to encouraging the cornposition of new nNJsic w launched a competition to sel words found in Beethoven's own hand on the manuseript of the Missa Solemnis lo be sung befo the great work in the concert. The words 'From the heart- may it retum to the heart. were sel by 22 Composers. The standard vrds very impressive wth a variety of different approaches. We shortlisled six entries and tried them ¢)Ut in front of judges induding David Temple. members of the management committee and CEFC'S new Patron, composer Debbie Wiseman. The winning entry by lan Lawson was performed by the whole choir immedialety befo Beelhoven's Missa Solemnis in October 2019 at the Queen Elizabeth Hall. We intended lo perfom some of the other entrie5 al our Aprl Concert wthich was cancellod. We have also commissioned composers in a more tradInal manner. Jessica Curry is a BAFTAnnlng composer of contemporary elassieal music and is also co-founder of nOwned games company The Chinese Room. Her work is cbse to fTuibon and 11 be perfomied when concerts begin again. Cae To is an Australian composer vlhose recent tM)rk encompasses classical technique with contemporary composition. blending symphonic phrases With experimental and environmental soundseapes. Her commission YiM appear in a future season.
Crouch End F•stsval Chorns ROrt of lh• trustees For the ar ended 31 Ju 2020 Aim 2: To make the choir a more diverse and in¢lusive organisatioTh, •ngaging with and reflecting our local community of HaringeylNorth London Crouch End Feslrval Chofus rs committed to makN)g the thoir a more diverse and inclusivg organisation so that we better reflect our local communrty and devebp new audiences and Ihe performers of the future. We have planned lo do this by. Recnjiling a more diverse choir member5hip'. Developing partnerships with local schools and youth organisations for perf0mlan opportunities and wtreach activities- Engaging more soloists. artiskn"c partners and composers frorn diverse backgrounds., Developing lationShipS hth artistic partner organisalions which champion diversity and inclusion in music.. and Engaging %wth a more diveise audience. In additKJn we have sel up a Diversity Working Group to ensure that we devote sufficient lima to this and pull in volunteers vthth appropriate skills lo h8lp us move forvrdrd. Aim 3: To Increase th• re$ilien¢e of the cholr and secure Its long4erni future Good governance and managing wr resources V+ell have never been more important. We have rolling Ihree-year planning cycle with a detailed budget. Trustees have close scrutiny of all contracts. The highly skilled members of the management eommittee conduct the day40-day running of the choir on a voluntary basis but with a wealth of professional skills. Our strategy state5 that we wll: . Maintain go govemance with due regard.for both opportsjnilies and risks". Increase the sources of income available to the chcrfr.. Make the best use of re50urees- Hamess the energy, enlhusiasm and varied skills of the mernbers. encouraging everyone to contribute lo the organisalion of Ihe thoir. and Have shared and transparent systems for the running of the choir. Al the outset of the pandemic no one knew how extensive the risks lo the choir V•ould be or how long it would last. The trustees reviewed all cofflmitments and contracts and. working wlh the management committee. sought lo minimise our exposure vthilsl fflaintaining a fair and balanced stance wlh musical colEeagues. This ensured that we aware of the cancellation fees we might have to pay. We inslitutsd monthly online trustee meetings and w8 re able lo take quick decisions to rnitiga18 risk. We honoured a percentage of some musician and venue contracts in good faith to mainlain good wjfking relationships for the future. Crouch End Festival ChonJ$ is unique in Ihal it is run solety by the membets for the rnembets and a very high percentsge of the 150 ernber$ are invofved in some voluntary role. The managgment committee and General Manager devote vast amounts of time and energy to driving the choir forward. We have been particularly grateful this year for the inspiration and eommitsnent of our Music Director David Temple MBE. espeaalty hi5 resilience and planning Nthen the pandemic brought business as usual lo an abrupt halt. His creativty arHI boldness have ensured that the chthr ts never complacent and continues lo attract the admiration and attention of the music vh)rld.
Crouch End F•$tiv•l Chorus Report of thè tfustees For the r ended 31 Jul 2020 Financial review We have a Ihree-year slralegic planning period. This enables us to plan sustainably for the future and to judge the amount of risk that the trustees consider prudent for the charilable company to take. Our planned concert and engagement activities from late March 2020 were suspended due to the Covid-19 l¢xkdown and $trIcI10$ in place for the remainder of the finanoal year. We budgeted for a defiol of £27.691 in the year to 31 July 2020 but principally as a su1[ of the cancellation of two oncerts budgeted to lose money we ended the year a lower deficit of £24.124. For internal managemenl reporting the remaining tyjdget penod was rslImated from April 2020 10 reflect the impacl of the Covid-19 restn"clions. The reseThes policy (set out below) provides a target reserves band for the end of each rolling three- year plan. Cuent uncertainties make it impossible at present lo plan and agree a detailed Ihree-year programme and financial lorecast. In the meantime expenditure is being Carefully controlled. and as opportunities become clear. proiecl or concert specific budgets are being agreed. Trustees have reviewed the reserves policy and believe that il remains appropriate for ¥then the thre&-year rolling planning approach is reinslaled. Fundraising remains an important source of the charilable coff0an5 income. The Iruslees woukl again like to express thanks lo the Friends. advertisers and all supporters of the choir and lo the chr members who bNtsrk so hard lo raise funds for CEFC. As in many previous years. we also thank our patron and co4ounder John Gregson for securing the concert programme advertising for the concerts we were able lo mount in the year. Through¢)ut the year. the choir again maintained excelknl sh fk)w and wst control based on the artistic and other plans agreed by.the trustees and canied out by the managernenl commitiee. Thg trustees would like to thank all ffmbers of Ihe management cofflfflittee and the lder finance team for their supwrt and input on financial matters. Purpose5 for whlch the charitable compan5 assets are held.. Our lolal restri¢ted and unrestricled funds at 31 July 2020 We £131.382 against £155.506 at 31 July 2019. A major asset of the charitable company is ils cash at bank and in hand thich accounted for £139,051 al 31 July 2020 1£158.862 al 31 July 2019). Unrestricted lunds at 31 Juty 2020 of £131.382 {t149.406 at 31 July 20191 are available lo use in furthering the charitable companls aims, in accordance with the reserves policy agreed by the Injslees.
Crouch End F•$tival Chorus Rep¢)rt of the trustees For Ihe ar endod 31 Jul 2020 Reserves: The trustees. reserves pokn'w is designed lo meet the Chaiity Commission's guidance on reserves in ways that are.. Applicable lo CEFC'S ehalllable objectives and aims.. and . Meaningful to CEFC'S m8mbers, funder5 and olher stakelKAders. Definition of reseNes Reserves comprise tsvo kinds of unrestricted funds: 1. General unrestricted funds which can be applied to any of CEFC'S aims and objectives; and 2. Desonaled unrestricted funds any amounts that the trustees have eamiarked for a particular use. e.g. seed funding of a new initiative. ReseNes exclude restricted funds. These a funds that the donor or fvnder has explicitty given to be applied for a particular purpose or aim and only for that purpose or aim lor until sufficienl conditions are agreed lo be metl, e.g. a speofic grant. fundraising for a particular commission or performance. outreach funding. New Music Patron ffonies. ReseNes will exclude endowTnent funds. when such lunds develop at CEFC. Reserves polKy The charitsble company has a dear reserves policy vthich the trustees regard as essential for sound financial management and forward planning. Reserves a the charitable compan¥s unreslrieted fund5. Comprising both general and designated unrestn"¢ted funds. Our pdicy requires an agreed band of reserves lo support the choirfs activities. risk profile and rolling three-year fovward planning. The trustees revigw the reserves policy al least annually and regularly monitor ils operation. The agreed feseThes range or band is £70.000 10 £90,000, th Ihe aim of ending each each three- year fornard plan wth SelVeS sitting al or above the Wer band level of £70,000. Our three-year artistic planning and our annual bu(Jgeting reflects the reserves policy. The policy enables us to plan ahead for h)ngerryr8nge projects. such as new commissions and recordings, ¥thieh typically span rTh)re than one financial year. The pcAicy aims lo maintain adequale *Drking ¢apilal to operate sewrely. to support our plans for the future and provide adequate funding if unexpected events were to occur. The policy supports the uncertainties in our funding model, assisting the management cwimittee and trustees to make appropriate and prntjent future plans vthil8 ensuring that do not hold unrestricted funds unnecessarily.
Crouch End Festival Chorus Report of the trustè•s For the arended 31 Ju 2020 The charitable compan$ reserves policy is eSigned to a5SiSt the trustees and management committee in.. Keeping sufficient resources and Working capital to support the operating model, risk profile and fotward pgramme, wthoul retaining exeess funds that should be applied lo charitsble purposes.. Maintaining a sufficient safety net lor the charitsble company to maIn solvent and re-plan as . necessary. should significant negative events 0ur.. 8ringing lofward aspects of the artistic plan vthich require longer lemi planning and investment beyond one season, such as new commissions. recordings or amkn"ts"ous programmes: Re-planning or postponing aspects ol the artistic plan to later years rf our planning estimates or current events result in forecast reserves being below the agreed band: and Prompting necessary acbons lo restore the reseNes band position in an adequate timescale, should a deterioration towards or below the lo*er band (Cur. publaOn of the policy The policy forn part of CEFC'S Trustee Report in the Annual Report and Accounts. The current reserves policy, ineluding any rewsions approved by the trustees since the Last Annual Report and Accounts. is also published on Ihe ngers. pages of the CEFC webstte. Policy rpwew This policy is review8d al least annually by the CEFC Iruslees. to inform three-year planning and budgeting I[k. and additionally rf the trustees agree thal circumstances require it. Dependence on key supporters: The charitable conyany is not dependent on any one source of extemal funding. Statement of responsibllities of the trustees The trustees (who are also d1ClOr5 of the charity for the purposes of company lawl are responsible for preparing Ihe Irustees, pOrt and Ihe financial stalements in accordance with applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102.. The Financial Repor1ing Siandard applicable in the UK and Republic of Irek4nd (United Kingdom Generalty Accepted Accounting Practice). Company law requires the trustees lo prepare financial statements for each financial year. which gNe a Inje and fair view of the state of affairs of the charity and of the income and expenditu of the harity for that period. In preparing those financial Statements the trustees are required to.. seled suitable accounting policies and then apply them nSIStenY', observe the rnethods and principles the Charities SORP Istalemenl of Recommended Practicel- make judgements and accounting estimates Ihal are reasonable and prudent,. state vthether applicable UK aeeounting standards and statements of recommended practice have been folhjwed. subjoct lo any matgrial departures di5ths8d and explained in the financial statements,. and prepare the financial statements on the 9)ing wicem basis unkss rt is inappropriate to presume that Ihe charity will continue in operati.
Crou¢h End Fo$tival Chorus Report ol the trustees Forthe ar ended 31 Jul 2020 The trustees are responsible for keeping proper accounting records sthich disclose wth reasonable accuracy at any time the financial positTron of the charity and which enable them lo ensure that the financial statements comply v#ith the Companies Ael 2006. The Iruslees are also responsible for safeguarding the assets of the tharity arKI hence for tsking reasonable sleps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable companws ybSite. Legislation in the Uniled Kingdom governing the preparation and disseminakn'on of finanual SLqtennts may differ from legislation in olherjurisdietions. Members of the charity guarantee to Contribute an anTh)unt not exceeding £10 to the assets of th8 charity in the event of wnding up. The total number of such guarantees al 31 July 2020 was 141 12019.. 1411.The trustees are members of the charity but this entitles them onty lo votsng rights. The trustees have no beneficial interest in the chaiity. Independenl examinerg Godfrey Wilson Limited were re-appointed as independent examiners lo the Charitable company during the year and have expressed their willingness to continue in that capacrty. Approved by the Irustees on 26 November 2020 aThJ s*Jned on their behaff by Felioly Ford - Chair of Trustees 10
Independent examinerfs report To the trustees of Crouch End Festival Choru$ I report to the trustees on my examination of the accounts of Crouth End Festival Chorus {the charitable company} for the year ended 31 July 2020. which are sel out C pages 12 10 22. Responslbilitles and basi$ of report As the tnjslees of the charitable company {and also its directors for Ihe purposes of company law) you are responsible for the preparation of the aecounts in ardance with the requ1MentS of the Companies Act 2006 ('the 2006 Acl'l. Having satisfied myself that the accounts of the charitable eompany are not required to be audited under Part 16 of Ihe 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charitab companrfs accounts a5 C8rried out under section 145 of the Charitie5 Act 2011 I'the 2011 Acf ). In carrying out my examination I have folkywed the Directions given by the Charity Commission under section 145(51 (bl of the 2011 Act. Independent •xaminef s statoment I have completed my examination. I confirm that no material matters have come to my attention in connection wlh the examinath.on giving me cause to believe that in any malerial respect.. 111 accountsng records were nol kept in respect of the charitable company as required by section 386 of the 2006 Act: or 121 the accounts do not accord w71h those records.. or 131 the accounts do not comply wth the accounting requirements of section 396 of the 2006 Act other than any quIrernent that the accounts give a 'true and fair which is not a matter nsidered as part of an independent exarnination.. or {4} the accounts hav& not been prepared in accordance wilh Ihe methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo aribes preparing their accounts. in accordance with the F.inancial Reporting Srandard applicable in the UK and RepuLlic of Ireland {FRS 102). I have no concerns and have come across no other matters in connection the examination lo which attention should be dravm in this report in der to enable a proper understanding of the accounts lo be reached. Dale.. 30 November 2020 Alison Godfrey FCA M8mber of the ICAEW For and on behalf of.. Godfrey Wilson Llmited Chartered aeeountants and ststutory auditors 5th Floor Mariner House 62 Prince Street BristcA 8S14QD
Crouch End Festlval Chorus Slat•ment of financial activiti•s fincorwra&ng an income and expenditure accountj For the ear onded 31 Ju 2020 2020 Totsl 2019 Total Restricted Unrestricted Note Income from: Donations and legacies Charitsble aclivilies Other trading activities Investments 42,166 77,231 4.167 141 42,166 77.231 4.312 141 42.478 183,61J) 9,988 145 Total income 145 123.705 123.850 236.165 Exp¢nditur• on: Raising funds Charitable activities 345 141,529 345 147,629 2.363 177.405 6.100 Totsl expgnditure 6.100 141.874 147.974 179.768 Net income I (expenditure) and not movement in funds (5.9551 (18,1691 124.1241 56,397 Reconclliation of funds". Total funds brought fojward 6.100 149,406 155,506 99,109 Total lunds carried foNard 145 131.237 131,382 155.506 All of Ihe above results are derived from conlinuing activities. There were no other recoJnised gains or losses other than those stsled above. Movements in funds is shown in Note 15 of the accounts. The prior year comparatives for items comprisiThJ the nel movement of fund5 are shown mor8 fully in Note 2. 12
Crouch End Festival Chorus Balance sheet Asat31Ju 2020 2020 2019 Note Flxed assets Tangible fixed assets 30 Current a$$gts Stock Debtors Cash al bank and in hand 10 394 S.852 139.051 S35 16.759 158.862 14S,297 176,156 Liabilities Creditors.. amounts falling due %Mthin 1 year 12 13.915 20,680 N•t eurrent ass•ts 131.382 155,476 Net assets 14 131.382 155,506 Fund$ Restn'cled fvnds Unreslricled funds Designated funds General funds 15 145 6,100 10.000 121,237 10,000 139.406 Total charlty funds 131.382 155.506 The directors are sa115fied that the company is entitled to exemption frorn the provisions of the Companies Act 2006 (the Acll relaling to the audit of the financial statements for the year by virtue of seclion 477{21, and that no member or members have requested an audit pursuant to section 476 of the Act. The directors acknowledge their responsibilities for. {il ensuring thal the Company keeps proper accountirKJ records which Comply with section 386 of the Act.. and {iil preparing financial slalements which give a true and fair view of the state of affairs of the Company as at the end of the financial year and of its profil or k)ss for the financial year in accordance wth the requirements of section 393. and which otherwise comply with the requirements of the Act relating to financial slatements. so far as applieable lo the company. These financial ststements are prepared bn accordance with the prOS1On$ applicable to companies subject lo the small companies regirne. Approved by the trustees on 26 November 2020 and stgned on their behalf by Felicity Ford - Chair of Trustees 13
Crouch End Festival Chorus Notes to the financlal statements For Ihe earended 31 Ju 2020 Accounllng poll¢les al Basls of preparatlon The financial statements have been prepared in accordance with Accountsng and Reporting by Charities.. Stalemenl of Recommended Practice applicable lo charities in preparing their accounts in accordance with the Finanoal R8POrting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191- (Charities SORP {FRS 102)). the Financial Reportyng Stsndard applicable in tho UK and Republ of Ireland (FRS 102} and the Companies Act 2006. Crouth End Festival Chorus meets the definition of a public benefft entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stated in the relevant aceounting policy note. b) Going concern basis of accounting The aecounts have been prepared on the assumption that the charity 1$ able to continue as a going concern. However. Ihe COVIO-19 pandemic has had a profound impact on the global economy and may in lum affect the charity. The direclors have considered the impact of this issue on the charity's current and future financial position. The charity held UntrICted funds of £133,027 and a cash balance of £139.051 al 31 July 2020. and the trustees consider that the charity has suffEcient reserves and cash to continue as a going concern for a period of at least 12 months from the dale on which these ffinanci slatements are approved. ¢) In¢om• Incorne is recognised ¥en the charity has entitlement to the funds, any performance conditions attached lo the item of income have been met. il is probable that the wicorne will be received and the amount can be measured reliabty. Income from grants. whether 'caprtaf grants or 'revenue' grants. is reeognised when the charity has enb'uemenl lo the funds. any performance conditions alla¢hed lo the grants have been met. it is probable that the income wll be receNed and the amount can bg measured r81iably and 15 not deferred. d) Interest receivabl8 Interest ¢)n funds held on deposit is included when receivable and the amount can be measured reliably by the charity.. this is nornially upon notification of the interest paid or payable by the bank. •) Funds aecounting Unre51rieted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted of the charity which the trustees have decided al their diserelion to sel aside to use for a specific purpose. Restricted funds are donations which the donor has specified are lo be solety used for particular areas of the charitls work or for specifi projects being undertaken by the charity. f) Expenditure and irrecovgrable VAT Expenditure is recognised onee there is a legal or conslnJctive obligalion lo make a payment lo a Ihird party, it is probable that settlernenl wll be required arKI the amount of the obligation can be measured reliably. Irreeoverable VAT is charged as a cost against the activity for wknich the expenditur8 was incurred. 14
Crouch End F•stlval Chorus Notes to the flnanclal statements For the ear ended 31 Ju 2020 Accountlng pollcles lcontlnued) g) Allocatlon of support and governanu casts Support costs are those function5 that assist the work of Ihe charity but do not directly undertakg tharitable acliviknes. Govemance costs compnse all costs invdving the public accountability of the charity and its compliance with regulation and good practice. These costs are alloealed in full lo Charitable Activities in the Statement of Finartial Activities. on the basis that the majority of resources are directed lowarts these activities. h) Tangible fixed assets Oeprecialion is provided at raies calculaled to vaite down Ihe cost of each asset to its estimated residual valve over its expected useful life. The dePCIatiOn rale is 5 years straight line. i) Stock Stocks consist of rnuS library and merthandise re-sale and are valued at the lower of cost or net realisable value. J) Debtors Trade and other debtors are r8cognised at the settlement arnount due after any trade discount offered. PrepayThents are valued at the arnount prepaKI net of any Irade dI$unts due. kl Cash at bank and in hand Cash at bank and cash in hand indudes cash and short term highly Itquid investments with short matrjrity of three months or less from the dale of acquisition oi opening of the deposit or similar aoUnt. l) Cr•ditors Creditors are recognised where the Charity has a presenl obligation resulting from a past event that will probably result in the transfer of funds to a third paty arTrd the amount due to settle the oblvJalion can be measured or eslimaled reliabty. Creditors are normally cognised al their settlement amount after allowing for any trade discounls due. ml Financlal instrurn•nts The ehanty only has financial assets and financial liabilities of a kind thal qualify as basic financial inslrumenls. Basic financial instruments are initially r8¢ognis•d at transaction value and subsequentiy measured al Iheir settlement value. n) Actounting estlmates and key jud9emenls In the application of the charitvs accountyng policies. the tnjstees are required to make judgemen15, estimates and assumpb.ons about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underfying assumptions are based on historical experience and other factors that are consKlered lo be relevant. Actual results may differ from these estimates. The 8stirnates and undeflying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimates are recognised in Ihe period in which the estimate is revised rf the revision affeels only that period. or in the pef of the revision and future periods if the revision affects both current and future periods. There are no key sources of estimation uncertainty th.al have a signifitsnt effect on the amounts recognised in the financial statements. 15
Crouch End Fo$val Chorus Notes lo Ihe financial statements Forlhe ear ended 31 Ju 2020 Prior period comparatives 2019 Totsl Restricted Unrestricled Incom• from: Oonalions and legacies Charitable activities Other trading activities Investments 6.100 36.378 183,600 9.813 99 42,478 183,600 9.988 99 175 Total income 6.275 229,890 236.165 Expenditure on." Raising funds Charitsble actiwties 2.363 177.230 2,363 177.405 175 Total expenditure 175 179,593 179.768 Net income and not movemen¢ In funds 6.100 50.297 56,397 Income from charitable adivities 2020 Total 2019 Total Reslricted Unrestncled Concert income Engagemenls PPL fees and other royaltie5 28.045 32,024 17.162 28,045 32.024 17,162 41,422 122,274 19.904 Total income from charitable activibes 77.231 77.231 183.600 All charitable activities income in the wior year was unrestricted. Income from other trading aclivltles 2020 Total Restricted Unrestricted Merthandising and sales Other member incoffle Fundraising and events New music patrons scheme 623 801 2.743 623 801 2,743 145 14S Totsl income from other trading activities 145 4,167 4,312 16
Crouch End Festival Chorus Notes to the financlal statements For the ear ended 31 Jul 2020 Income from other trading actlvltles (continued) Prlor perlod comparative: 2019 Totsl Restricted Unrestricted Merchandising and sales Other member income Fundraising and gvents Naw mUC patrons scheme 660 1,119 8,034 660 1,119 8.034 175 175 Totsl income from other trading activibes 175 9,813 9.988 Total expenditure Support and Raising Charitable governance funds activities costs 2020 Total Concert costs External engagernents Merchandising and saS Artistic services Member costs Choif promotion ProfeSOnal Services General and admin Subscripts'ons 91.870 18,115 91.870 18.115 61 27.925 543 647 3.794 4,600 419 61 27.925 217 647 42 3.794 4,600 419 Sub-total 345 138.774 8,855 147.974 Allation of support and govgmance costs 8,855 Total expenditure 345 147,629 147.974 Totsl govemance costs were £3.794 (2019: £6.177). 17
Crouch End Festival Chorus Notes to the financial statements For the ear ondod 31 Jul 2020 Total expenditure {contlnued} Prlor perlod ¢omparatlve Support and Raising Charitable govemance fvnds activities costs 2019 Total Concert costs Extemal engagements Merchandising and sales Artislie 5ervioes Member costs Choir promOtn Professional services General and admin Subscriplions 103.149 31,415 103,149 31.415 361 25,059 3.459 1.024 6.177 8,723 401 361 25.059 1.416 1.024 2.002 41 6.177 8.723 401 Sub4otal 2.363 162.063 15.342 179.768 locatic of support and govemance costs 15.342 15.342 Total expendhure 2.363 177.405 179.768 18
Cr¢)u¢h End F•stival Chorus Notes to the financial statements For the ear ended 31 Jul 2020 6. Net movement In funds This is slated after chargirvJ- 2020 2019 Depreciation Trustees. MUnerati( Trustees, reimbursed expenses Accountsnls, remuneration.. Independent examination 30 30 1,400 7. Staff costs and numbers The charitsble company had no emOyeeS at any time during the year. The key management personnel of the charitable company comprise the trustees and management committee. No reffluneralion was paid lo key management personnel during the ye8r12019 - nill. 8. Taxation The charitable company is exempl from Corporat¥ lax as all its ineome is charitatle and is applied for charitable purposes. 9. Tangible fixed assets ' Equipment Cost At 1 August 2019 and 31 ju 2020 551 Depreciation Al 1 August 2019 Charg8 for the year 521 30 Al 31 July 2020 551 Net book value At 31 July 2020 At 31 July 2019 30 10. Stock 2020 2019 Goods lor resale 394 535 19
Crouch End Fesllval Chorus Notes to the financial statements Forthe earended 31 Ju 2020 11. Debtors 2020 2019 Trade debtors Other debtors Prepayments 2.280 319 3.253 2.115 6.773 7.871 5,852 16.759 12. CrlIar¥ . amounts du• within 1 y•ar 2020 2019 Trade creditor5 Accrvals Defeffed income (note 13} VAT 60 15,078 3.695 1,847 12,12S 1.790 13,91S 20.680 13. Deferred income 2020 2019 At 1 August 2019 Deferred income during the year Released during the year 3,695 1.790 3.695 5,780 3.295 5,380 At 31 July 2020 1.790 3.695 Deferred income relates lo programme advertising incm and pertorman¢8 or engagement income which relates lo fvture periods. 14. Analysis of net assets between funds Restricted funds DesNJnated funds General funds Total funds Tangible rued assets Current assets Current liabilities 145 10.000 135,152 13.9151 145,297 13,915 Funds at 31 Juty 2020 145 10.000 121.237 131,382 20
Crouch End Feslival Choru5 Notes to Ihe financial stalements Forthe ear ended 31 Jul 2020 14. Analysls of nel assets between funds Ic¢)nllnuedl Prior year comparatlve Restncted funds DeSnated funds General funds Total funds Tangible fixed assets Current assets Current liabilities 30 160.056 20,680 6.100 10.000 176.156 20,680 Funds at 31 July 2019 6.100 10.000 139,406 155,506 1 S. Movem•nt In funds Transf6rs betsveen funds Al 1 August 2019 At 31 July 2020 In¢ome Expenditure Restricted funds Commercial Reec*ding Projecl New Music Patrons 6.100 16,1001 145 145 Total restricted funds 6,100 6,1¢)0 145 Unrestricted funds Designated funds.. Special Projects 10,000 10,000 Total de&gnated funds 10,000 10.000 General funds 139.406 123.705 141.874 121.237 Total unrestrictsd funds 149.406 123.705 141.874 131.237 Totsl funds 155,506 123.850 147,974 131,382 Purposes of restricted funds Commerc1 Recording Project Money donated to partially fund the costs of a major commercial recording project taking Iace in 2020. New Mu$1¢ Patrons Money donated to help fund commissions of new music for the choir to perform. Purposes of designated funds Special Projects Money set aside from the general re5eTve to contribute towards the cosls of future as yel unplanned recordings and other muskcal events. 21
Crouch End Festival Chon Notes to the Ilnanclal statements For the ear ended 31 Ju 2020 1 S. Movement In funds (contlnued) Prlor year comparative Transfers been funds Al 1 August 2018 At 31 July 2019 Income Expenditure Re$tri¢ted funds Commercial Rocording Project New Music Patrons 6.100 175 6.100 175 Total restricted funds 6.275 175 6,100 Unrgstricted lunds Designared funds.. Special Projects 10.000 10.000 Total de&gnat8d funds 10.000 10,000 General funds 99,109 229.890 139,406 179,593 10.000 Totsl unr¢strid•d fund$ 99.109 179.593 149,406 Total funds 99.109 236,16S 179,768 155,506 16. Related party tran$adions The trustees are not aware of any lated party transacti(bns during the year12019 - nil).