LEAMINGTON MUSIC
REGISTERED CHARITY NUMBER: 1117723
TRUSTEES’ ANNUAL REPORT AND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022
Registered number: 1117723
LEAMINGTON MUSIC
TRUSTEES’ ANNUAL REPORT AND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022
Contents
| Page | |
|---|---|
| Reference and Administrative Details | 3 |
| Trustees’ Annual Report | 4 - 8 |
| Independent Examiner’s Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Financial Statements | 12 - 16 |
Page 2 of 16
Registered number: 1117723
LEAMINGTON MUSIC
REFERENCE AND ADMINISTRATIVE DETAILS
Registration
Leamington Music is a charity registered with the Charity Commission in England and Wales, registered number 1117723. Its principal address (and address for correspondence) is Leamington Town Hall, The Parade, Leamington Spa CV32 4AT (formerly Northgate, Warwick CV34 4JL).
Trustees
Overall management of Leamington Music is by a committee of charity trustees. Details of the managing committee of trustees who served during the year ended 31 July 2022 and serving as at the date of the trustees’ report are set out below:
| Peter Glanfield | Chairman | |
|---|---|---|
| Sarah Swinburne | Treasurer and Secretary | Resigned as Secretary 28 January 2022 |
| Paul Thomas | Secretary | Appointed as Secretary 28 January 2022 |
| Jane Williams | Friends’ Co-ordinator | |
| Mary Adams | Appointed 1 October 2022 | |
| Eleanor Hedger | ||
| Simon Hogg | ||
| Daniel O’Brien | Appointed 1 May 2022 | |
| Georgina Middleton | Resigned 27 January 2023 | |
| Caroline Powell-Brett | Resigned 30 October 2021 | |
| Howard Skempton | ||
| Christopher Thomas | Appointed 27 January 2023 | |
| Festival Director | Assistant Festival Director | |
| Richard Phillips MBE | Helen Beecroft | |
| Independent Examiner |
C Christou FCCA MAE Leigh Christou Limited Euston House 12 Euston Place Leamington Spa CV32 4BN
Bankers
HSBC Bank plc Lloyds Bank plc 126 The Parade 73 The Parade Leamington Spa CV32 4AJ Leamington Spa CV32 4BB
Page 3 of 16
Registered number: 1117723
LEAMINGTON MUSIC
TRUSTEES’ ANNUAL REPORT
The trustees of Leamington Music present their Annual Report and Financial Statements for the year ended 31 July 2022. The reference and administrative details disclosed at page 3 form part of this Annual Report.
CORONAVIRUS (COVID-19) PANDEMIC
The trustees have previously reported that the United Kingdom Government restrictions on public movement and gatherings introduced in March 2020 in response to the coronavirus (COVID-19) pandemic forced the cancellation of some forty Leamington Music events between March 2020 and June 2021.
With the relaxation of COVID restrictions in June 2021, the trustees were able to stage an extended program of events in the year ended 31 July 2022, including a one-off September Festival Weekend in addition to the customary Leamington Music concert program. We are grateful to all musicians, venues and supporters who enabled us to return to such a full program in the year under review.
The trustees believe that, despite the short-term financial impact of the Government restrictions, the charity’s reserves enable it to remain as a going concern (see Financial Review – Reserves Policy, page 7 below).
Structure, Governance and Management
The charity is an unincorporated association governed by a constitution adopted on 26 July 2006. Leamington Music is managed by a committee of trustees, who are all unpaid volunteers and receive no private benefits from Leamington Music. Trustees are selected on the basis of their experience and suitability by the committee and their appointment confirmed by election at the Annual General Meeting of the association thereafter.
Objectives and Activities
The objects of the charity, as set out in its governing document, are:
-
To advance, improve, develop and maintain public education in, and appreciation of, the art and science of music in all its aspects by any means the trustees see fit, including through the presentation of public concerts and recitals; and
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To further such charitable purpose or purposes as the trustees in their absolute discretion shall think fit but in particular through the making of grants and donations.
Page 4 of 16
Registered number: 1117723
LEAMINGTON MUSIC
The main activities of Leamington Music in relation to these objectives are:
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The organisation of a variety of concerts, providing a high standard of international music, at a variety of venues in the Leamington and Warwick area.
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Providing educational music workshops, master classes and special concerts for young people.
-
Supporting musicians through funding, grants and prizes.
Public Benefit
The trustees have considered the Charity Commission’s guidance on public benefit and work to maintain the accessibility of the program of concerts and educational workshops to the widest possible audience. Ticket prices and workshop fees are subsidised, mainly through donations and sponsorship, with some additional funding provided by local Town and District Councils. A range of concessions are available: students are offered standby tickets at £1, accompanied schoolchildren pay £1 per ticket and special, low, ticket prices are offered for family concerts.
Volunteers
The members of the committee of trustees are all unpaid volunteers. Some further fifty unpaid volunteers contribute to the organisation and running of Leamington Music and the programs of events in many ways, including, inter alia : assisting with publicity; stewarding at concerts; accommodating visiting musicians; organising and facilitating the educational workshop program. In addition, a significant proportion of funding is raised by the Friends of Leamington Music, which is also organised and run by volunteers: in 2022, the Friends’ funding, including Gift Aid, amounted to some £12,000 (2021: £12,000). The trustees of Leamington Music are most grateful to all our volunteers for their dedication, enthusiasm and loyalty – and for their continuing support throughout the pandemic.
Achievements and Performance
Whereas the number of events in the previous two years had been reduced by cancellations occasioned by COVID restrictions, during the year ended 31 July 2022 Leamington Music staged an extended program of events, comprising 42 concerts (2021: 16 concerts, 2020: 19 concerts):
-
7 concerts in a one-off September 2021 Festival Weekend, salvaging a significant part of the 2020 and 2021 May Festival Weekends, which were cancelled due to COVID restrictions, celebrating the 250[th] anniversary of the birth of Ludwig van Beethoven and the centenary of Leamington-born composer Robert Simpson respectively
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7 International String Quartet concerts, sponsored by Investec Wealth & Investment, at the Royal Pump Rooms in Leamington Spa
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6 Early Music concert at St Mary’s Church, Warwick
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Registered number: 1117723
LEAMINGTON MUSIC
-
2 Christmas 2021 concerts in Warwick and Leamington Spa
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7 further concerts, including: a family concert; a performance by renowned baritone Roderick Williams with pianist Susie Allan; a brass concert; and a recital by the Jubilee String Quartet in Coventry as part of the Coventry 2021 UK City of Culture program
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11 concerts in the May Festival Weekend, celebrating the 150[th] anniversary of the birth of Ralph Vaughan Williams. The Festival included a joint concert by Russian pianist Roman Kosyakov and Ukrainian pianist Sasha Grynyuk
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finally, 2 summer concerts: in a well-received new venture, an opera double bill in collaboration with the Royal Birmingham Conservatoire, and further celebration of Ralph Vaughan Williams in a choir concert at St Mary’s Church, Warwick. These events were part of the inaugural Warwick Choral Festival, promoted by Warwick, A Singing Town
All Leamington Music events continued to deliver music of a high standard and saw a welcome return to live music following the lifting of COVID restrictions. Just 1,300 tickets had been sold for the 16 socially-distanced concerts in 2021 (2020: 3,100 for 19 concerts): 2022 saw 4,350 tickets sold for the 42 concerts, which, sadly, does not yet represent a return to capacity audiences, post-pandemic. Although the majority of those attending our concerts are local, the high quality of our concert programs continues to attract visitors from the rest of the United Kingdom and overseas.
Whilst our 2019 – 2020 education program for children attending Warwickshire schools (some 30 workshops and masterclasses given by artists appearing in our International String Quartet and Early Music concert programs) was largely unaffected by COVID restrictions, the 2020 – 2021 program was, sadly, abandoned in its entirety, as concerts were cancelled and schools closed. With restrictions lifted and schools open once more, the 2021 – 2022 program, in spring 2022, comprised a dozen workshops. A full program of over 30 workshops took place in 2022 – 2023. We are most grateful to our guest artists for their continuing commitment to – and enthusiasm for – our education program, which is made possible by generous private and other funding, including grants from the Grimmitt Trust and Warwickshire Music (Warwickshire County Council’s music education hub).
The charity usually awards an annual prize to students at the Royal Birmingham Conservatoire . No prize contest took place in 2021 , due to COVID restrictions, but the prize for 2022 was awarded at the Conservatoire in March 2022, in conjunction with the award of the Sylvia Cleaver Chamber Music Prize, to the Félicité Piano Trio. The Trio will perform a Prize Winners’ concert in Leamington: sadly, no date has yet been fixed as the Trio’s pianist is suffering from tendonitis. The 2023 contest will take place in spring 2023.
In organising these activities, Leamington Music works closely with a number of local and national arts organisations, including: Chamber Music Plus; Making Music; Music in the Round; the Royal Birmingham Conservatoire; Warwick District Music Promoters’ Forum; and Warwickshire Music. Full details of our current concert and education programs can be found on our website www.leamingtonmusic.org
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Registered number: 1117723
LEAMINGTON MUSIC
The trustees are sad to report the death during the year of two former trustees of the charity. Martyn Bradley died in November 2021. Martyn had been one of the founding committee members of the charity in 2006 and served as a trustee until 2016. Iain Smith died in December 2021. Iain was also a founding committee member and served as trustee and Chairman until 2016. The trustees are grateful for the commitment and enthusiasm of both Martyn and Iain and extend their condolences to their families.
Financial Review
Reserves Policy
The trustees regularly review the concert and educational workshop programs planned by the Festival Director for content and for financing. The trustees ensure that sufficient reserves are available at the end of the financial year to cover the funding requirements for concerts and workshops scheduled through the first part of the following year. At 31 July 2022, with a return to a full concert program, this funding provision amounted to £50,000. Our unrestricted reserves at 31 July 2022 amounted to some £58,000 (2021: £74,000). The trustees believe that these reserves enable them to remain a going concern, having weathered the impact of the restrictions imposed by the Government in response to the coronavirus (COVID-19) pandemic.
Since its inception in 2006, Leamington Music has benefited from the considerable experience of Festival Director, Richard Phillips MBE, in programming and managing events and education workshops. From January 2016, Richard has been assisted by Helen Beecroft. The additional costs of this succession planning are being met, as needed, from additional funding raised following an appeal to audiences in early 2018. At 31 July 2022, the appeal had raised some £26,000 (including Gift Aid of approximately £2,000) against an original target of £12,000. The trustees have agreed that the funds raised be allocated over a longer period than the 3 years initially envisaged pre-pandemic. As a result, none of the funds were utilised in the year ended 31 July 2022 (2021: none). The unutilised funds (£19,887) are disclosed as part of restricted reserves in this Statement of Financial Activities. The trustees are satisfied that these funds will facilitate meeting the additional costs arising during the extended handover period. As part of the handover arrangements, in September 2022 Leamington Music moved into office premises in Leamington Town Hall. The trustees expect to utilise funds from the 2018 appeal to meet the on-going costs of these office premises.
Risk Assessment, Risk Management and Going Concern
So far as external risk to the charity is concerned, see the preceding paragraphs relating to the coronavirus (COVID-19) pandemic on page 4.
The charity remains dependent upon income from individuals, companies, trusts and other grant-making bodies to fund its charitable activities (see Incoming Resources, below), but the trustees have a reasonable expectation that such income will be forthcoming for the foreseeable future, as concert series recommenced following the lifting of COVID restrictions, and so believe that the charity continues as a going concern.
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Registered number: 1117723
LEAMINGTON MUSIC
Incoming Resources
Our concert programs are financed by ticket and programme sales, supplemented by additional fund-raising. Concert ticket and programme income of approximately £76,000 (2021: £22,000) covered 44% (2021: 30%) of Leamington Music’s total expenditure for the year ended 31 July 2022. Our other main sources of funds were:
| • | Individual donors, including Friends, plus Gift Aid | £36,000 | (2021: £36,000) |
|---|---|---|---|
| • | Local authority grants | £22,000 | (2021: £11,000) |
| • | Donations from trusts, foundations, other | ||
| grant-making bodies and sponsors | £29,000 | (2021: £10,000) | |
| - of which £7,000, from TG Escapes Ltd, was | |||
| allocated to restricted reserves | |||
| (2021: £5,000 from the Grimmitt Trust) |
We are most grateful to all those individuals, trusts, grant-making bodies and sponsors who have supported Leamington Music during the year under review, and in particular, everyone who has made a donation in our support during the period of COVID restrictions, either by donating the price of their tickets for cancelled concerts (2021: £6,200; 2020 £4,600) or through our online fund-raising platform (2021: £1,600; 2020: £3,000).
Investment Policy
The charity has no investments other than funds held at banks as disclosed in the balance sheet.
Declaration
The trustees declare that they have approved the Trustees’ Report above.
Signed on behalf of the charity’s trustees:
Signed: Signed: P N Glanfield S E Swinburne Peter Glanfield Sarah Swinburne Chairman Treasurer Dated: 20 March 2023 Dated: 20 March 2023
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Registered number: 1117723
LEAMINGTON MUSIC
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF LEAMINGTON MUSIC
I report to the trustees of Leamington Music (registered charity number 1117723) on my examination of the accounts of the above charity (‘the trust’) for the year ended 31 July 2022, which are set out on pages 10 to 16.
Responsibilities and basis of report
As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner’s Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that, in any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008, other than any requirement that the accounts give 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.
Signed: Chris Christou
Dated: 20 March 2023
C Christou FCCA MAE Independent Examiner
Leigh Christou Limited Euston House 12 Euston Place Leamington Spa CV32 4BN
Page 9 of 16
Registered number: 1117723
LEAMINGTON MUSIC
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022
| Note INCOMING RESOURCES Income from: Donations and legacies 3 Charitable activities 3 Investments 3 Other 3 TOTAL RESOURCES EXPENDED Expenditure on: Raising funds 4 Charitable activities 4 TOTAL NET (EXPENDITURE) /INCOME TRANSFER BETWEEN FUNDS FOR THE YEAR TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD |
Unrestrict- ed Funds Restricted Funds Total This Year £ £ £ 79,855 7,000 86,855 75,743 - 75,743 41 - 41 1,908 - 1,908 157,547 7,000 164,547 17,654 - 17,654 156,414 - 156,414 174,068 - 174,068 (16,521) 7,000 (9,521) 0 0 0 74,342 25,508 99,850 57,821 32,508 90,329 |
Total Last Year £ 57,408 22,691 30 1,021 |
|---|---|---|
| 81,150 | ||
| 7,610 65,655 |
||
| 73,265 | ||
| 7,885 0 91,965 |
||
| 99,850 |
Page 10 of 16
Registered number: 1117723
LEAMINGTON MUSIC
BALANCE SHEET AS AT 31 JULY 2022
| Note FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors 11 Cash at bank and in hand 12 TOTAL CURRENT ASSETS LESS: CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL NET ASSETS FUNDS OF THE CHARITY Unrestricted funds Restricted funds 15 TOTAL FUNDS |
Unrestrict- ed Funds Restricted Funds Total This Year £ £ £ - - - 13,073 - 13,073 54,340 32,508 86,848 67,413 32,508 99,921 9,592 - 9,592 57,821 32,508 90,329 57,821 32,508 90,329 57,821 57,821 32,508 32,508 57,821 32,508 90,329 |
Total Last Year £ 409 |
|---|---|---|
| 7,449 95,617 |
||
| 103,066 3,625 |
||
| 99,441 | ||
| 99,850 | ||
| 74,342 25,508 |
||
| 99,850 |
Approved by the trustees on 20 March 2023 and signed on their behalf by:
P N Glanfield S E Swinburne
Peter Glanfield Sarah Swinburne Chairman Treasurer
Page 11 of 16
Registered number: 1117723
LEAMINGTON MUSIC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
Note 1. Basis of Preparation
Basis of Accounting
The Financial Statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant Notes to the Financial Statements; and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102); and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.
The Financial Statements present a true and fair view and the accounting policies adopted are outlined in Note 2 below.
Going Concern
The trustees believe that any uncertainties related to current events or conditions do not cast significant doubt on the charity’s ability to continue as a going concern.
Note 2. Accounting Policies
Reconciliation with Previous Generally Accepted Accounting Practice (GAAP)
No adjustments to fund balances as previously stated are required to disclose funds as determined under Charities SORP (FRS 102).
Income
-
Incoming resources are included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the resources; it is more likely than not that the trustees will receive the resources; and the monetary value can be measured with sufficient reliability.
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There has been no offsetting of assets and liabilities or income and expenses.
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Grants and donations are only included in the SoFA when the general income recognition criteria are met.
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The charity has received local authority grants in the reporting period.
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Gift Aid receivable is included in income when there is a valid declaration from the donor; any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund.
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Donated goods are not material and are ascribed zero value.
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The value of any voluntary help received is not included in the accounts but is described in the Trustees’ Annual Report.
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Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.
Page 12 of 16
Registered number: 1117723
LEAMINGTON MUSIC
Expenditure and Liabilities
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Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
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Creditors are measured at settlement amounts.
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Deferred income relates to donations, sponsorship and ticket income received in advance of the events to which they relate.
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Liabilities are measured on recognition at historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
Assets
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Tangible fixed assets are capitalised and depreciated if they can be used for more than one year and the cost exceeds £500. Assets are valued at cost; depreciation methods and rates are disclosed in note 9.
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Debtors are measured on initial recognition at settlement amounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
Note 3. Analysis of Income
| Donations and legacies: Individual donors, including Gift Aid Legacies Local authority grants Sponsorship Trusts and other bodies |
This year Last year £ £ 36,155 36,363 - - 22,000 11,000 5,500 3,000 16,200 2,000 |
|---|---|
| 79,855 52,363 |
In addition, restricted donation received 2022: £7,000 from TG Escapes Ltd for the 2018 audience appeal to fund succession planning handover costs (2021: £5,000 from The Grimmitt Trust for education purposes). See Note 15 below, Restricted Reserves.
| Charitable activities: Ticket sales Programme sales Subsidy from Music in the Round Education workshops Advertising income |
This year Last year £ £ 72,392 22,014 3,351 677 - - - - - - |
|---|---|
| 75,743 22,691 |
Income from investments of £41 comprises bank and other interest received (2021: £30). Other income of £1,908 comprises the proceeds of the sale of donated goods and provision of services (2021: £1,021).
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Registered number: 1117723
LEAMINGTON MUSIC
Note 4. Analysis of Expenditure
| Raising funds: Printing, publicity and marketing Office supplies and administrative costs Charitable activities: Artist fees and expenses Concert and workshop management fees and expenses Venue hire and other event costs Box office charges Leamington Music prize |
This year Last year £ £ 15,872 6,612 1,782 998 |
|---|---|
| 17,654 7,610 |
|
| This year Last year £ £ 93,423 30,342 32,500 28,200 22,869 5,100 6,372 2,013 1,250 - |
|
| 156,414 65,655 |
Note 5. Support Costs
Not applicable (2021: not applicable).
Note 6. Trustee Expenses and Professional Fees
No payments of trustee expenses or professional fees were made in the year (2021: none). Expenses incurred on behalf of the charity reimbursed to trustees during the year amounted to £464, reimbursed to Simon Hogg (£209), Georgina Middleton (£161) and Jane Williams (£94) (2021: £119 reimbursed to Sarah Swinburne).
Note 7. Paid Employees and Pension Scheme
Leamington Music has no paid employees and no pension scheme (2021: none).
Note 8. Grant-making
Grants made as part of charitable activities: no grants were made to any institutions (2021: none); grants to individuals: Leamington Music Prize (for the support of young musicians) £1,250 awarded to The Félicité Piano Trio (2021: no award due to COVID restrictions).
Note 9. Tangible Assets
During the year ended 31 July 2018, two new desk-top computers were purchased for use at the charity’s then-registered address in Warwick. These computers are now fully depreciated. During the year ended 31 July 2018, the trustees contracted to lease a printer for use at the then-registered address in Warwick. The initial lease contract period was 36 months from April 2018. The lease was renewed in August 2020, to include printing costs, for 36 months at a total cost of £5,325.
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LEAMINGTON MUSIC
Registered number: 1117723
| Two desk-top computers, purchased February 2018 Set up charges October 2018 Depreciation charges 2019 to 2021 At 31 July 2021 Depreciation charge 2022 At 31 July 2022 |
Cost Deprec- iation Net £ £ £ 1,462 1,462 175 175 |
|---|---|
| 1,637 1,637 (1,228) (1,228) |
|
| 1,637 (1,228) 409 (409) (409) |
|
| 1,637 (1,637) - |
Note 10. Other Assets
Leamington Music has no: intangible assets; heritage assets; investment assets (other than bank deposits) or stocks (2021: none).
Note 11. Debtors
| All amounts fall due within one year: Gift Aid claim Prepayments and accrued income Total Note 12. Cash at Bank and in Hand Instant access bank deposit accounts Other cash at bank and in hand Total Note 13. Creditors and Accruals All amounts fall due within one year: Trade creditors Accruals and deferred income Total |
This year Last year £ £ 6,500 5,000 6,573 2,449 |
|---|---|
| 13,073 7,449 |
|
| This year Last year £ £ 59,164 63,396 27,684 32,221 |
|
| 86,848 95,617 |
|
| This year Last year £ £ 4,906 - 4,686 3,625 |
|
| 9,592 3,625 |
Note 14. Events after the end of the Reporting Period
No events have occurred after the end of the reporting period, but before the Financial Statements are authorised, which relate to conditions that arose after the end of the reporting period, and which would require adjustment to the Financial Statements.
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Registered number: 1117723
LEAMINGTON MUSIC
Note 15. Restricted Funds
| Note 15. Restricted Funds | |
|---|---|
| Year ended 31 July 2020 At 1 August 2019 Additional donations Gift Aid claimed in the year At 31 July 2020 Year ended 31 July 2021 Gift Aid claimed in the year Grant for education, The Grimmitt Trust At 31 July 2021 Year ended 31 July 2022 Corporate donation At 31 July 2023 |
Appeal Education 2018 Total £ £ £ 7,621 12,365 19,986 - 180 180 - 297 297 |
| 7,621 12,842 20,463 - 45 45 5,000 5,000 |
|
| 12,621 12,887 25,508 - 7,000 7,000 |
|
| 12,621 19,887 32,508 |
In October 2021, a further, specific donation of £7,000 was made to the appeal by TG Escapes Ltd, so that the total of the appeal 2018 restricted fund now amounts to £19,887.
Leamington Music has no permanent endowment, expendable endowment or restricted income funds (2021: none).
Note 16. Transactions with Related Parties
During the year ended 31 July 2022 the charity received from its trustees donations of £2,825 plus Gift Aid of £706 (2021: £1,815 plus Gift Aid of £454).
In addition to these donations, the charity received commission of £242 from Jane Williams, trustee and Artist in Residence, following the sale of three of her paintings at Leamington Music Festival events, with a total sales value of £1,210 (2021: none).
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