## **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 2022**
**LA FOLIA MUSIC**
## **INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022**
## **Page**
- 1 Legal and administrative information
- 2-6 Report of the trustees
- 7 Independent examiners’ report
- 8 Statement of financial activities
- 9 Balance sheet
- 10-13 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 2022.
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 2021-July 2022 La Folia Music’s activities started again after our Covid-19 induced hibernation period. Cesca Eaton started her first year with us as our newly appointed Production and Administration Manager, picking up where Sue Kent left off pre-pandemic. With safeguarding and child protection of great importance to La Folia, Cesca attended an online safeguarding and child protection course, the completion of which makes her able to take up the role of La Folia’s Safeguarding lead in all projects. La Folia marked the return to live activity and bid a final farewell to Sue Kent on 19[th] September, with a thank you concert in the Medieval Hall in Salisbury, to which all supporters and donors were invited. It was a very emotional success.
## **THE SEASON'S ACTIVITIES**
## **Messiah Concert**
For the first time, La Folia embarked on a 100% baroque outfit as the baroque orchestra for a performance of Handel’s Messiah, with the Esterhazy Chamber Choir, conducted by Richard Dawson, in Lewes, East Sussex on 20[th] November. We hope to have more baroque outings in the future.
## **Furze Platt**
Enabled by Andrew Johnston’s fundraising efforts (see below in Fundraising) we were able to carry out 2 workshops at Furze Platt School in Maidenhead, with the students from years 7 – 13 creating their own response to Andrew’s daughter’s piece ‘Memory of a Friend’. Our November workshop involved La Folia jazz musicians and in June a more classical ensemble. We were also able to offer a talented Year 13 student a private piano lesson with Nicholas Walker, professor of piano at the Royal Academy of Music. We hope to carry out further workshops in the future.
## **Stone Songs**
This large-scale piece for chorus, vocal soloists and instrumental ensemble by Howard Moody, celebrating Salisbury Cathedral, was commissioned by La Folia as the opening event for Salisbury Festival 2020. It was already in rehearsal when lockdown was enforced; and a postponed date was subsequently confirmed with Wiltshire Creative for the Festival as 27[th] May 2022. Chorus Rehearsals started up again in November 2021, building to a climax on 27[th] May with 120 chorus members, brass, strings, organ and 5 international soloists, conducted by Howard Moody, performing to a packed cathedral.
## **Richard Allen Retirement Concert**
Richard Allen, a partner at Fawcetts Accountancy firm, has been a huge supporter of Howard Moody and La Folia for many years. As a thank you for his continued support, La Folia put on a special performance at his retirement event in March.
## **Voices in the Landscape**
In partnership with Chalke and Chase Landscape Partnership Scheme, La Folia started work on its ‘Voices in the Landscape project. The aim of the project is to create new folksongs from isolated communities within the Cranborne Chase Area of Outstanding Natural Beauty. Workshops were held with schools, refugees, disabled and those with learning difficulties and local community choirs. This project is ongoing, due for completion in 2023.
Page 3
**LA FOLIA MUSIC**
## **REPORT OF THE TRUSTEES (continued)**
## **Staff changes**
There were no new staff appointments this year.
## **Trustee changes**
It was agreed that La Folia should appoint new trustees to fill some or all of the five vacancies. Preparations are underway to find the appropriate people.
## **La Folia Handbook**
This was updated by the board.
## **Fundraising**
La Folia supporter **Major Andrew Johnston** , retired officer of the Coldstream Guards, having contracted multiple sclerosis has been a wheelchair user for 25 years. Having wheeled 30 miles in his kitchen during lockdown, he continued to raise funds for long-term creative music La Folia projects at Furze Platt School in Maidenhead where his late daughter was an inspirational head of music. He is also on the committee of Wincanton Races and was able to suggest that their Annual Charity Raceday should be held in aid of La Folia. Preparations started with the formation of an organising committee for the event, which included Lucy Salisbury (La Folia Trustee) and Cesca Eaton (La Folia Administrator) which would take place at the end of October 2022.
La Folia was fortunate to receive a grant from South Wiltshire Area Board for £2,500 specifically for our Voices in the Landscape Project.
La Folia Trustee. Alison Pascalidis very generously gave her time gratis, to support Cesca in all fundraising activities for La Folia. Several applications were submitted to Trusts and Foundations, but currently none of our applications have been successful.
We are also grateful for a grant of £250 donated by South Wiltshire Mencap to be used for any future work that we do with Sebastien Varenne.
## **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 trusts:
Richard Allen Nigel and Lucy Salisbury Rosie Clay Willi and Di Verdon-Smith John and Ann Compton Martyn Ralph and Sally Walden John Cox South Wiltshire Mencap Fiona Donovan Dame Rosemary Spencer Alison Evans Michael Wade Fawcetts Chartered Accountants Louise Govier Andrew and Catherine Johnston Peter Mitchell The Mackintosh Foundation Carolyn Newbigging Penelope Marland Alison Pascalidis Chris and Clem Martin Girdlers
Page 4
**LA FOLIA MUSIC**
## **REPORT OF THE TRUSTEES (continued)**
## **FINANCIAL REVIEW, RESERVES AND INVESTMENT POLICY**
The deficit of £9,573 has been subtracted from the surplus of funds brought forward resulting in a total surplus at 31 July 2022 amounting to £33,205. Reserves include restricted funds of £4,182 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
The Trustees are not remunerated.
Page 5
**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: 16.1.23
Page 6
## **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 2022 which are set out on pages 8 to 13.
## **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:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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:……………………………….. 27 January 2023
Page 7
## **LA FOLIA MUSIC**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2022**
|**Unrestricted**
**Restricted**
**Notes**
**Funds**
**Funds**
**£**
**£**
**INCOME AND ENDOWMENTS FROM:**
**Donations and legacies**
Grants received
2
1,200
250
Donations
14,669
1,645
Patrons and friends
1,800
-
the singing trust
-
60
**Charitable activities**
Concerts
3,235 10,879
Participant fees
- -
**Sponsorship**2
-
-
**Investment income**
Interest received
7
-
**Miscellaneous Income**
-
-
**Total income**
**20,911**
**12,834**
**EXPENDITURE ON:**
**Charitable activities**
4
25,753
17,565
**Raising funds**
5
-
-
**Total expenditure**
**25,753**
**17,565**
**NET INCOME/(EXPENDITURE)**
(4,842)
(4,731)
Transfers between funds
-
-
**NET MOVEMENT IN FUNDS**
(4,842)
(4,731)
**Total funds brought forward**
**at 1 August 2021**
33,865
8,913
**TOTAL FUNDS CARRIED FORWARD**
**at 31 July 2022**
**29,0234,182**|**Total**
**Total**
**2022**
**2021**
**£**
**£**
1,450
-
16,314
26,550
1,800
1,715
60
-
14,114
-
-
-
-
-
7
3
-
-
**33,745**
**28,268**
43,318
9,247
-
-
**43,318**
**9,247**
**(9,573) 19,021**
-
-
(9,573) 19,021
42,778
23,757
**33,205**
**42,778**|
|---|---|
There were no other recognised gains or losses other than those stated above.
The notes on pages 10 to 13 form part of these financial statements.
Page 8
## **LA FOLIA MUSIC (REGISTERED NUMBER: 06325700)**
## **BALANCE SHEET AT 31 JULY 2022**
|**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|**2022**
**£**
3,376
32,802
**36,178**
(2,973)
**(2,973)**
|
**£**
33,205
**33,205**
4,182
24,023
5,000
**33,205**|**2021**
**£**
3,100
42,290
**45,390**
(2,612)
**(2,612)**
|**£**
42,778
**42,778**|
|---|---|---|---|---|
|||||
8,913
28,865
5,000
**42,778**|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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 16th January 2023 and signed on their behalf by
………………………………….
John Cox - Trustee
The notes on pages 10 to 13 form part of these financial statements.
Page 9
## **LA FOLIA MUSIC**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022**
## **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 10
## **LA FOLIA MUSIC**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022**
## **2. GRANTS AND SPONSORSHIP**
|**Unrestricted**
**Restricted**
**Funds**
**Funds**
**£**
**£**
**Core Income**
MENCAP
-
250
Trusts and Foundations
1,200
-
Sponsorship
-
-
1,200
250
|**Total**
**Total**
**2022**
**2021**
**£ £**
250
-
1,200
-
-
-
1,450
**-**|
|---|---|
Please see the Report of the Trustees for details on people and organisations who gave grants and sponsorship during the year
## **3. EXPENDITURE**
|**EXPENDITURE**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Independent examiner’s fee|**913**|**913**|
No members of staff were employed in the current year. None of the trustees received any emoluments or travelling expenses during the year (2021: £Nil)
## **4. CHARITABLE ACTIVITIES**
|**CHARITABLE ACTIVITIES**||||||
|---|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total**|**Total**||
||**Funds**|**Funds**|**2022**|**2021**||
||**£**|**£**|**£**|**£**||
|Performers’ fees|3,235|13,578|16,813||-|
|Aborted Event costs|420|-|420||-|
|Venue hire|-|850|850||87|
|Publicity and advertising|2,688|1,000|3,688|3,700||
|Music and hire|-|42|42||-|
|Photography and video|-|-|-||-|
|Photocopying and printing|-|-|-||-|
|Project development|5,938|500|6,438||-|
|Apprentice fees|-|-|-||-|
|CD printing|-|-|-||-|
|Sundries|117|-|117||46|
|Recruitment and training|-|-|-||814|
|Insurance|48
|400|448||633|
|Postage, stationery and telephone|-|-|-||264|
|Management and administration
|8,248|1,195|9,443||750|
|Storage|480|-|480||480|
|Travelling|1,056|-|1,056||-|
|Hospitality|-|-|-||-|
|Website and communications|186|-|186||360|
|Away Day|-|-|-||-|
|Independent examiner’s fees|937|-|937||913|
|Accountancy and legal|2,400|-|2,400|1,200||
||**25,753**|**17,565**|**43,318**|**9,247**||
Page 11
## **LA FOLIA MUSIC**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022**
## **5. RAISING FUNDS**
|**5.**|**RAISING FUNDS**||||||
|---|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**
**Total**||**Total**||
|||**Funds**|**Funds**
**2022**||**2021**||
|||**£**||**£**
**£**|**£**||
||Fundraising fees and expenses|**-**||**-**
**-**||**-**|
|**6.**|**TAX ON ACTIVITIES**||||||
||La Folia Music is a registered charity|and as such is not|liable for taxation on any surplus.||||
|**7.**|**DEBTORS**||||||
|||||**2022**|**2021**||
|||||**£**|**£**||
||Other debtors and prepayments|||-|-||
||Accrued income|||3,376|3,100||
|||||**3,376**|**3,100**||
|**8.**|**CREDITORS: AMOUNTS FALLING**|**DUE WITHIN ONE**|**YEAR**||||
|||||**2022**|**2021**||
|||||**£**|**£**||
||Trade creditors|||2,031
|1,225||
||Accruals|||942|942||
||Other creditors|||-|445||
|||||**2,973**|**2,612**||
Page 12
## **LA FOLIA MUSIC**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022**
## **9. RESTRICTED FUNDS**
||**At**|**Received**|**Expenditure**|**At**|
|---|---|---|---|---|
||**01.08.21**|**in year**|**in year**|**31.07.22**|
||**£**|**£**|**£**|**£**|
|the singing trust|2,218|
60|(500)|1,778|
|Furze Platt|6,578|-|(5,101)|1,477|
|Stone Songs|117|2,292|(1,732)|677|
|19thSeptember Concert|-|4,355|(4,355)|-|
|Messiah|-|5,877|(5,877)|-|
|Powerful Voice|-|250|(-)|250|
||**8,913**|**12,834**|**(17,565)**|**4,182**|
**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 2022/23.
**Stone Songs** – a donation from the late Veronica Stewart Arts Trust was received during the year and will be expended when appropriate.
**Powerful Voice** – Mencap very kindly donated this fund to cover future expenditure for one of our Special Needs associates
**Messiah** – This was a Baroque Orchestra performance of Handel’s, Messiah in November 2021. The performance was commissioned and paid for by Esterhazy Chamber Choir.
**19[th] September Concert** – This was a fundraising event, kindly funded by John and Ann Compton.
Page 13