LA FOLIA MUSIC
(A COMPANY LIMITED BY GUARANTEE)
Charity No. 1121049
Company Registration No. 6325700
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
LA FOLIA MUSIC
INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
Page
-
1 Legal and administrative information
-
2-7 Report of the trustees
-
8 Independent examiners’ report
-
9 Statement of financial activities
-
10 Balance sheet
-
11-14 Notes to the financial statements
LA FOLIA MUSIC
LEGAL AND ADMINISTRATIVE DETAILS
STATUS The organisation is a company limited by guarantee, incorporated on 26 July 2007 and registered as a charity on 3 October 2007. CHARITY NUMBER 1121049 COMPANY NUMBER 6325700 TRUSTEES John Cox (Chair) Debbie Rigg Lucy Salisbury Alison Pascalidis Dr Louise Govier COMPANY SECRETARY Adrian Harris FCCA REGISTERED OFFICE Windover House 26 St Ann Street Salisbury SP1 2DR PRINCIPAL BANKERS National Westminster Bank plc 48-49 Blue Boar Row Salisbury SP1 1DF INDEPENDENT Nicholas Jones FCCA EXAMINER Fawcetts LLP Chartered Accountants Windover House St Ann Street Salisbury SP1 2DR
Page 1
LA FOLIA MUSIC
REPORT OF THE TRUSTEES
The trustees (who are also directors of the charity for the purposes of the Companies Act) are pleased to present their annual report together with the financial statements of La Folia Music (the charity) for the year ending 31 July 2020.
Legal and administrative information set out on page 1 forms part of this report. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity’s governing document and the provisions of the Statement of Recommended Practice (SORP) FRS 102 1A “Accounting and Reporting by Charities”
STRUCTURE, GOVERNANCE AND MANAGEMENT
The constitution provides for a minimum of 4 and a maximum of 10 trustees. There shall be a quorum if at least 3 are in attendance. The Chair of Trustees is responsible for the induction of new Trustees, which includes awareness of a Trustee’s responsibilities.
The charity is administered by the trustees. The trustees meet regularly during the year and receive reports on the state and developments of the affairs of the charity.
The trustees examine the major risks that the charity may face each financial year, and have developed systems to monitor and control these risks to mitigate the impact they may have on the charity.
OBJECTIVES AND ACTIVITIES OF THE CHARITY
The principal activity of the charity is to promote, improve, develop and maintain public education in, and the appreciation of, the art and science of music in all its aspects. A further aim is to share live music with people who might not otherwise experience it; to present music in both expected and unexpected places.
The paragraphs below set out our activities, achievements and performance during the year, which are directly related to the objectives and purposes for which the charity exists. The charity achieves its objectives and purposes through a series of concerts and projects delivering music in the south of England. The benefits of this are fully compliant with Principles 1a and 1b of the Charity Commission Principles of Public Benefit.
The trustees confirm that they have complied with the duty in s17(5) of the Charities Act 2011 to have due regard to the charity commissions guidance on public benefit, including Public Benefit: reporting’ [PB3].
Page 2
LA FOLIA MUSIC
REPORT OF THE TRUSTEES (Continued)
ACHIEVEMENTS AND PERFORMANCE OF THE CHARITY
During the season, August 2019 - July 2020 La Folia Music’s activities were severely curtailed by the Covid-19 pandemic. Social distancing measures precluded our projects which are delivered through musicians and participants physically in the same space, in real time, creating dynamic music together; it is not possible to adapt them for effective delivery online. A plan was therefore initiated to ensure that La Folia is alive and well beyond Covid-19 and its aftermath, husbanding resources and maintaining current financial viability by going into ‘hibernation’ April – December 2020 with the intention of recommencing activities in January 2021, government guidelines permitting.
THE SEASON'S ACTIVITIES
-
Projects
-
New Horizons: September 2019
-
Requiem project: November 2019
-
PUSH virtual choir: April 2019
-
Stone Songs: May 2020 postponed
-
Continuing the Conversation: September 2019 – July 2020
-
Board and team away day: January 2020
-
The Big Interview: May 2020
-
Preparation of future projects
-
Staff changes
-
Creation of La Folia handbook
-
Fundraising Challenge: April – June 2020
New Horizons
In a pilot initiative Howard Moody and Adrian Zolotuhin led a productive day of creative music making with South Wilts Mencap's New Horizons Club for adults with learning disabilities.
Requiem Project
This project was based in Howard Moody’s opera The Brussels Requiem. Intended as a pilot for a 2 year project culminating in a full performance, this had to be amended as sufficient funding was not available. 250 children from 5 Salisbury primary schools across varied social settings and including a special needs school, took part in workshops led by musicians Howard Moody and Jeff Moore, culminating in a pubic sharing in Salisbury Cathedral with additional musicians Anna Cooper and Elin Manahan Thomas. CPD for teachers was also delivered
PUSH virtual choir
This virtual performance of the epilogue from Howard Moody’s opera PUSH was created during lockdown and features singers from previous productions in Battle, Chichester, Salisbury, London and Brussels.
Stone Songs
This large-scale piece for chorus, vocal soloists and instrumental ensemble by Howard Moody, celebrating Salisbury Cathedral, was to be the opening event for Salisbury Festival 2020. It was already in rehearsal when lockdown was enforced; every effort is being made to ensure future performances.
Page 3
LA FOLIA MUSIC
REPORT OF THE TRUSTEES (Continued)
Continuing the Conversation
La Folia commissioned a new piece by composer Richard Barnard in response to source material gathered during a series of music therapy sessions at Springfields Residential Home in Bridestowe, Devon led by music therapist and La Folia Marketing manager Megan Brand. The final piece, Springfields Songs, was premiered in a recording made in July 2020 and shared with participants and public.
Board and team away day
Led by facilitator Sarah Boiling Sarum College, Salisbury, many aspects of La Folia were examined, resulting in a board paper restating clearly the organisation’s philosophy and future ways of working.
The Big Interview with Wiltshire Creative
As part of the virtual Wiltshire Creative Connects programme during lockdown, artistic director Howard Moody and general manager Sue Kent took part in The Big Interview series, discussing La Folia’s work and the collaborative relationship with Wiltshire Creative.
Preparation of future projects
At the time of lockdown, La Folia had 11 projects in preparation for delivery. Only 1 of these was able to happen within government restrictions but planning work continued in order to move forward with them when circumstances allowed.
Staff changes
-
Hibernation meant that work was no longer available for our fundraising manager and a project manager, both of whom resigned in April 2020
-
The general manager retired in July 2020 after 20 years with La Folia. Lockdown made it impossible to recruit for an immediate replacement, a process planned for when national circumstances allow.
La Folia Handbook
This was written by the board and team as a more accessible public version of the business plan
Fundraising Challenge
La Folia supporter Major Andrew Johnston, retired officer of the Coldstream Guards, having contracted multiple sclerosis has been dependent on a wheelchair for 25 years. He wheeled 30 miles in his kitchen during lockdown to raise funds for several charities, including a contribution of over £5000 for a long-term creative music project at Furze Platt School in Maidenhead where his late daughter was an inspirational head of music.
Additional note at point of publication, January 2021
Due to ongoing restrictions relating to the Covid-19 pandemic, recruitment for a new general manager did not take place in autumn 2020. La Folia decided instead to enter into a period of ‘hibernation’ from August 2020 onwards, which led to much-reduced expenditure. We were also fortunate to receive two significant donations in autumn 2020: a gift of £10,000 from the Wallace Curzon Charitable Trust and a legacy of £10,000 from long-term supporter of our work, Sheila Oglethorpe. As we enter 2021, we are therefore fortunate to be in a financial position to recruit a new general manager and deliver project work as soon as national restrictions allow.
Page 4
LA FOLIA MUSIC
REPORT OF THE TRUSTEES (Continued)
FINANCIAL SUPPORT
La Folia Music would like to thank all our supporters including our Friends and Patrons, the following individual donors and organisations, anonymous donors and 2 anonymous trusts:
Nicholas Armour Arts Council England Ann Burn Carol and John Carvell Devon County Council Mary Dickson Elmgrant Trust ESG Robinson Charitable Trust Alison Evans Exeter House School Fawcetts Chartered Accountants Golsoncott Foundation Andrew and Catherine Johnston Alison Mayne Peter Mitchell Olive Moody Lady Newbigging Sheila Oglethorpe Nigel Salisbury PRS Foundation Martyn Ralph and Sally Walden Debbie Rigg Salisbury Cathedral School South Wilts Mencap St Mark’s Junior School Verdon-Smith Charitable Settlement Veronica Stewart Arts Trust Viscount Amory’s Charitable Trust Wallace Curzon Charitable Trust Wiltshire Community Foundation Wiltshire Music Connect Woodford Valley Primary Academy Woodlands Primary School
Page 5
LA FOLIA MUSIC
REPORT OF THE TRUSTEES (Continued)
FINANCIAL REVIEW, RESERVES AND INVESTMENT POLICY
The deficit of £2,975 has been deducted from the surplus of funds brought forward resulting in a total surplus at 31 July 2020 amounting to £23,757. Reserves include restricted funds of £5,691 to be carried forward to complete current projects. (See note 9)
The trustees regularly review the requirement to maintain reserves in relation to the organisations strategy to innovate and deliver high impact performances within our target communities despite the challenging financial times. The wrap up cost of the company has been carefully considered and the Trustees have designated £5,000 for that purpose in the interests of good practice and governance.
The trustees have considered the most appropriate policy for investing funds and consider that surplus funds should be placed on deposit where possible to achieve a higher rate of interest.
The trustees regularly consider risk and have instigated an annual detailed risk assessment process. As part of this process a risk register is being developed and will regularly be reviewed by trustees.
RISK MANAGEMENT
The trustees have a risk management strategy which comprises:
-
an annual review of the principal risks and uncertainties that the charity faces;
-
the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and
● the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
This work has identified that financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due.
Attention has also been focussed on non-financial risks arising from fire, health and safety of artists and audience, management of performing rights and food hygiene. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place, and regular awareness training for staff working in these operational areas.
TRUSTEES
The following persons held office as Trustees of the company during the year under review.
John Cox Debbie Rigg Dr Louise Govier Alison Pascalidis Lucy Salisbury Shirley Taylor (resigned 10[th] June 2020)
The Trustees are not remunerated.
Page 6
LA FOLIA MUSIC
REPORT OF THE TRUSTEES (Continued)
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Signed on behalf of the Trustees
……………………………………… John Cox - Trustee
Date: 18[th] January 2021
Page 7
LA FOLIA MUSIC
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 July 2020 which are set out on pages 10 to 14.
RESPONSIBILITIES AND BASIS OF REPORT
As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER’S STATEMENT
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:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102].
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.
Nicholas Jones FCCA Fawcetts LLP Chartered Accountants Windover House St Ann Street Salisbury SP1 2DR
Date:………………………………..
Page 8
LA FOLIA MUSIC
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2020
| Unrestricted Restricted Notes Funds Funds £ £ INCOME AND ENDOWMENTS FROM: Donations and legacies Grants received 2 (2,000) 14,233 Donations 27,882 6,400 Patrons and friends 2,437 - the singing trust - 406 Charitable activities Concerts - 2,950 Participant fees - 300 Sponsorship2 - - Investment income Interest received 28 - Miscellaneous Income 500 - Total income 28,847 24,289 EXPENDITURE ON: Charitable activities 4 29,821 21,500 Raising funds 5 3,790 1,000 Total expenditure 33,611 22,500 NET INCOME/(EXPENDITURE) (4,764) 1,789 Transfers between funds - - NET MOVEMENT IN FUNDS (4,764) 1,789 Total funds brought forward at 1 August 2019 22,830 3,902 TOTAL FUNDS CARRIED FORWARD at 31 July 2020 18,066 5,691 |
Total 2020 £ 12,233 34,282 2,437 406 2,950 300 - 28 500 53,136 51,321 4,790 56,111 (2,975) - (2,975) 26,732 23,757 |
Total 2019 £ 31,000 37,268 4,165 1,363 17,357 2,130 - 45 - 93,508 120,321 8,512 128,833 (35,325) - (35,325) 62,057 26,732 |
|---|---|---|
There were no other recognised gains or losses other than those stated above.
The notes on pages 11 to 14 form part of these financial statements.
Page 9
LA FOLIA MUSIC (REGISTERED NUMBER: 06325700)
BALANCE SHEET AT 31 JULY 2020
| Notes CURRENT ASSETS Debtors 7 Cash at bank and on deposit LIABILITIES Amounts falling due within one year 8 NET CURRENT ASSETS NET ASSETS THE FUNDS OF THE CHARITY Restricted income funds 9 Unrestricted income funds: General Reserve Fund Designated Fund |
2020 £ 3,651 23,415 27,066 (3,309) (16,784) |
£ 23,757 23,757 5,691 13,066 5,000 23,757 |
2019 £ 4,127 39,389 43,516 (16,784) (16,784) |
£ 26,732 26,732 |
|---|---|---|---|---|
3,902 17,830 5,000 26,732 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
-
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Trustees on 28th January 2021 and signed on their behalf by
………………………………….
John Cox - Trustee
The notes on pages 11 to 14 form part of these financial statements.
Page 10
LA FOLIA MUSIC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
1. ACCOUNTING POLICIES
- a) The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the historical cost convention and in accordance with applicable Accounting Standards in the United Kingdom, the accounting regulations issues under the Companies Act 2006 and the Statement of Recommended Practice (SORP) FRS102 “Accounting and Reporting by Charities”.
The charity has applied update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS102 Section 1A.
The financial statements are prepared on a going concern basis. The financial statements are prepared in Sterling (£) which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
-
b) Voluntary income received by way of donations and gifts is included in full in the Statement of Financial Activities when received unless they relate to a specific period, in which case they are recognised as income in the period to which they relate.
-
c) Revenue grants are shown in the Statement of Financial Activities in the year to which they relate and when the conditions for receipt have been complied with. Where the grant has to be matched to a different period the deferred element is deducted from incoming resources and carried forward in liabilities.
-
d) All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation of activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of resources. Expenditure includes attributable VAT which cannot be recovered.
-
e) Restricted funds represent grants and donations which are allocated by the donor for specific purposes.
-
f) Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Page 11
LA FOLIA MUSIC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
2. GRANTS AND SPONSORSHIP
| Unrestricted Restricted Funds Funds £ £ Core Income CFWS - - Trusts and Foundations (2,000) 14,233 Sponsorship - - (2,000) 14,233 |
Total 2020 £ - 12,233 - 12,233 |
Total 2019 £ 2,500 28,500 - 31,000 |
|---|---|---|
Please see Trustees Report for details on people and organisations who gave grants and sponsorship during the year
3. EXPENDITURE
| Independent examiner’s fee | 2020 2019 £ £ 1,362 900 |
|---|---|
No members of staff were employed in the current year. None of the trustees received any emoluments or travelling expenses during the year (2019: £Nil)
4. CHARITABLE ACTIVITIES
| Unrestricted Restricted Total Funds Funds 2020 £ £ £ Performers’ fees 2,461 18,037 20,498 Performers’ expenses - - - Venue hire - - - Publicity and advertising 4,934 716 5,650 Music and hire - - - Photography and video - - - Photocopying and printing - - - Project development 3,010 - 3,010 Apprentice fees - - - CD printing - - - Sundries 389 - 389 Recruitment and training - - - Insurance 599 - 599 Postage, stationery and telephone 683 - 683 Management and administration 10,017 2,747 12,764 Storage 806 - 806 Travelling 1,028 - 1,028 Hospitality - - - Website and communications 426 - 426 Away Day 1,706 - 1,706 Independent examiner’s fees 1,362 - 1,362 Accountancy and legal 2,400 - 2,400 29,821 21,500 51,321 |
Total 2019 £ 59,175 2,514 2,162 8,274 812 250 3,400 1,968 1,402 747 439 2,501 565 680 28,914 240 1,852 367 759 - 900 2,400 120,321 |
|---|---|
Page 12
LA FOLIA MUSIC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
5. RAISING FUNDS
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| Fundraising | fees and expenses | 3,790 |
1,000 | 4,790 | 8,512 |
6. TAX ON ACTIVITIES
La Folia Music is a registered charity and as such is not liable for taxation on any surplus.
7. DEBTORS
| Other debtors and prepayments Accrued income 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accruals |
2020 £ - 3,651 3,651 2020 £ 2,380 929 3,309 |
2019 £ 218 3,909 4,127 2019 £ 16,315 469 16,784 |
|---|---|---|
Page 13
LA FOLIA MUSIC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020
9. RESTRICTED FUNDS
| At | At | Received | Expenditure | At | |
|---|---|---|---|---|---|
| 01.08.19 | in year | in year | 31.07.20 | ||
| £ | £ | £ | £ | ||
| Continuing the Conversation | 2,250 | 4,700 | (6,950) | - | |
| New Horizons | 900 | - | (900) | - | |
| the singing trust | 752 | 406 | - | 1,158 | |
| Furze Platt | - | 4,533 | - | 4,533 | |
| Stone Songs | - | 11,400 | (11,400) | - | |
| Evening Songs | - | 300 | (300) | - | |
| Brussels Requiem | - | 2,950 | (2,950) | - | |
| 3,902 | 24,289 | (22,500) | 5,691 |
the singing trust – an initiative to create a ring-fenced fund from donations for work with children and young people with special needs.
Furze Platt – funds received in advance for a project that is hoped will take place during 2021/22.
Continuing the Conversation – See Trustees Report.
New Horizon – See Trustees Report
Stone Songs – See Trustees Report
Brussels Requiem – See Trustees Report
Page 14