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 2023
LA FOLIA MUSIC
INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
Page
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1 Legal and administrative information
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2-6 Report of the trustees
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7 Independent examiners’ report
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8 Statement of financial activities
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9 Balance sheet
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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) |
| Lucy Salisbury | |
| Dr Louise Govier | |
| Charlotte Bott | |
| Rebecca Harwood Lincoln | |
| 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 2023.
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].
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LA FOLIA MUSIC
REPORT OF THE TRUSTEES (continued)
ACHIEVEMENTS AND PERFORMANCE OF THE CHARITY
During the season, August 2022-July 2023 La Folia Music’s activities continued with exciting projects and plans for the future. It was decided to advertise for 2 new Trustees to join the board, with interviews held in person in November. Rebecca Harwood Lincoln and Charlotte Bott were successful in their interviews, and, after observing a board meeting on zoom and all checks and references completed, were welcomed onto the board. A very successful concert was part of the 2023 Salisbury International Arts Festival and an inspiring project set around Salisbury Cathedral’s Assistant Director of Music John Challenger’s organ transcription of Holst’s The Planets was held with Exeter House Special School and Salisbury Cathedral School students. Voices in the Landscape continued with more workshops. All in all a very fruitful and fulfilling year.
THE SEASON'S ACTIVITIES
The Planets
An inspiring project set around Salisbury Cathedral’s Assistant Director of Music John Challenger’s organ transcription of Holst’s The Planets, was held with Exeter House Special School and Salisbury Cathedral School students. Workshops took place in the individual schools where the students responded in their own unique way to The Planets, with both schools coming together to create their very own new planet – Planet Three Eleven Thousand. It was a moving experience to see the joy in Salisbury Cathedral from the students, carers, musicians and poet Martin Figura, as John Challenger performed movements from The Planets and the students sang their hearts out and danced in the Cathedral Quire during their own performance of Planet 311000.
Musical Offerings
A concert as part of the 2023 Salisbury International Arts Festival, was held on 14[th] June 2023 in St Thomas’s Church, Salisbury. In collaboration with Best Foot Music (an agency supporting musicians, poets and communities who have sought refuge in the UK from around the world) Bach’s ‘Musical Offering’, on violin, flute, cello and harpsichord, was woven with sounds from the Sudan, Syria and Zimbabwe, opening borders between musical traditions. Sudanese poet and musician Bashir Al Gamar reading his chilling poem ‘A Child and a Doll’, in his native Arabic tongue, with Edith WeUtonga reading the English translation. The poem speaks of a displaced child on a beach, contrasting with Shakespeare’s “isle full of noises: sounds that delight and hurt not”. The evening was full of joy and exuberance enhanced by original compositions and songs from Edith WeUtonga and Bashir Al Gamar.
Voices in the Landscape
In partnership with Chalke and Chase Landscape Partnership Scheme, La Folia continued 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. The project will be completed in October 2023 with a songbook to be published early in 2024, culminating in a celebratory end of scheme event in Summer 2024.
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LA FOLIA MUSIC
REPORT OF THE TRUSTEES (continued)
Staff changes
There were no new staff appointments this year.
Trustee changes
Alison Pascalidis resigned from the board in May 2023, and 2 new Trustees were appointed, Rebecca Harwood Lincoln and Charlotte Bott. They officially joined the board in March 2023.
La Folia Handbook
This was updated by the board.
Fundraising
La Folia supporter Major Andrew Johnston , retired officer of the Coldstream Guards, continued to raise funds for long-term creative music 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. Unfortunately, due to the ground being unsuitable on the day, the race day on 27[th] October was cancelled. However, undeterred, Andrew and his wife Catherine, Lucy and Nigel Salisbury and others, held special charity lunches in their respective homes or hired venue in the Salisbury’s case. The charity auction continued at these events and online, with over £65,000 raised to be spent on future La Folia projects.
La Folia Trustee. Alison Pascalidis continued to give 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.
The Girdlers Company kindly donated £1,350 thanks to the nomination of the charity by Nigel Salisbury. We are very grateful to Nigel and to The Girdlers Company for their continued support.
Cesca was successful in securing and grant of £1,000 from the Mackintosh Foundation to be used for workshops for the bee project.
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:
Margaret Banwell Penelope Marland John and Carol Carvell Martin Marriott Rosie Clay Chris and Clem Martin John and Ann Compton Peter Mitchell Mick Cooney Cindy Moxham Vanessa Coryndon Carolyn Newbigging John Cox Alison Pascalidis Fiona Donovan Jane Podkolinski Alison Evans William and Elizabeth Richardson Fawcetts Chartered Accountants Nigel and Lucy Salisbury The Girdlers Company Dame Rosemary Spencer Louise Govier Jack Stone Ruth Hawley Willi and Di Verdon-Smith Andrew and Catherine Johnston Michael Wade The Mackintosh Foundation Helena Wright
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LA FOLIA MUSIC
REPORT OF THE TRUSTEES (continued)
FINANCIAL REVIEW, RESERVES AND INVESTMENT POLICY
The surplus of £36,997 has been added to the surplus of funds brought forward resulting in a total surplus at 31 July 2023 amounting to £70,202. Reserves include restricted funds of £59,941 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 (resigned 15/10/23) Dr Louise Govier Alison Pascalidis (resigned 31/05/23) Lucy Salisbury Charlotte Bott (appointed 21/03/23) Rebecca Harwood Lincoln (appointed 21/03/23)
The Trustees are not remunerated.
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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: 29.1.24
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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 2023 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:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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:………………………………..
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LA FOLIA MUSIC
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2023
| Unrestricted Restricted Notes Funds Funds £ £ INCOME AND ENDOWMENTS FROM: Donations and legacies Grants received 2 - 3,500 Donations 5,336 63,436 Patrons and friends 1,335 - the singing trust - 60 Charitable activities Concerts - 3,000 Participant fees - 22,000 Sponsorship2 - - Investment income Interest received 529 - Miscellaneous Income - - Total income 7,200 91,996 EXPENDITURE ON: Charitable activities 4 15,962 46,237 Raising funds 5 - - Total expenditure 15,962 46,237 NET INCOME/(EXPENDITURE) (8,762) 45,759 Total funds brought forward at 1 August 2022 19,023 14,182 TOTAL FUNDS CARRIED FORWARD at 31 July 2023 10,26159,941 |
Total Total 2023 2022 £ £ 3,500 1,450 68,772 1,335 1,800 60 - 3,000 14,114 22,000 - - - 529 7 - - 99,196 33,745 62,199 43,318 - - 62,199 43,318 36,997 (9,573) 33,205 42,778 70,202 33,205 |
|---|---|
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.
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LA FOLIA MUSIC (REGISTERED NUMBER: 06325700)
BALANCE SHEET AT 31 JULY 2023
| 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 |
2023 £ 4,239 69,257 73,496 (3,294) (3,294) |
£ 70,202 70,202 59,941 5,261 5,000 70,202 |
2022 £ 3,376 32,802 36,178 (2,973) (2,973) |
£ 33,205 33,205 |
|---|---|---|---|---|
14,182 14,023 5,000 33,205 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
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(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 xxth January 2024 and signed on their behalf by
………………………………….
John Cox – Trustee
The notes on pages 10 to 13 form part of these financial statements.
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LA FOLIA MUSIC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
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.
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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.
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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.
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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.
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e) Restricted funds represent grants and donations which are allocated by the donor for specific purposes.
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f) Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
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LA FOLIA MUSIC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
2. GRANTS AND SPONSORSHIP
| Unrestricted Restricted Funds Funds £ £ Core Income MENCAP - - Trusts and Foundations - 3,500 Sponsorship - - - 3,500 |
Total Total 2023 2022 £ £ - 250 3,500 1,200 - - 3,500 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
Independent examiner’s fee
| 2023 | 2022 |
|---|---|
| £ | £ |
| 973 | 913 |
No members of staff were employed in the current year. None of the trustees received any emoluments or travelling expenses during the year (2022: £Nil)
4. CHARITABLE ACTIVITIES
| CHARITABLE ACTIVITIES | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Performers’ fees | - |
24,738 | 24,738 | 16,813 |
| Direct Admin Costs | - | 10,781 | 10,781 | - |
| Concert Manager | - | 250 | 250 | - |
| Event expenses (travel/sust) | - | 2,104 | 2,104 | - |
| Aborted Event costs | - | - | - | 420 |
| Research | - | 1,250 | 1,250 | - |
| Venue hire | - | 36 | 36 | 850 |
| Publicity and advertising | 1,645 | 1,686 | 3,331 | 3,688 |
| Music and hire | - | 770 | 770 | 42 |
| Photography/Filming | - | 900 | 900 | - |
| Project development | 563 | - | 563 | 6,438 |
| Sundries | 213 | - | 213 | 117 |
| Recruitment and training | 239 | - | 239 | - |
| Insurance | 344 |
500 | 844 | 448 |
| Postage, stationery and telephone | 248 | - | 248 | - |
| Management and administration | 8,719 | 2,500 | 11,219 | 9,443 |
| Storage | 480 | - | 480 | 480 |
| Travelling | 359 | 222 | 581 | 1,056 |
| Website and communications | 279 | - | 279 | 186 |
| Independent examiner’s fees | 973 | - | 973 | 937 |
| Accountancy and legal | 1,900 | 500 | 2,400 | 2,400 |
| 15,962 | 46,237 | 62,199 | 43,318 |
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LA FOLIA MUSIC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
5. RAISING FUNDS
| Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| Funds | Funds | 2023 | 2022 | ||||
| £ | £ | £ | £ | ||||
| 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
| Other debtors and prepayments Accrued income 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accruals Other creditors |
2023 £ 250 3,989 4,239 2023 £ 2,351 943 - **3,294 ** |
2022 £ - 3,376 3,376 2022 £ 2,031 942 - 2,973 |
2022 £ - 3,376 3,376 |
|---|---|---|---|
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LA FOLIA MUSIC
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
9. RESTRICTED FUNDS
| At | Received | Expenditure | At | |
|---|---|---|---|---|
| 01.08.22 | in year | in year | 31.07.23 | |
| £ | £ | £ | £ | |
| the singing trust | 1,778 | 60 |
- | 1,838 |
| Furze Platt | 1,477 | 5,000 | (150) | 6,327 |
| Curzon | 10,000 | - | (10,000) | - |
| Stone Songs | 677 | - | (677) | - |
| Planets | - | 4,000 | (4,000) | - |
| Bees | - | 1,000 | (896) | 104 |
| Wincanton Race Day | - | 53,436 | (6,520) | 46,916 |
| Voices in the Landscape | - | 20,500 | (15,994) | 4,506 |
| Powerful Voice | 250 | - | - | 250 |
| Musical Offering | - | 8,000 | (8,000) | - |
| 14,182 | 91,996 | (46,237) | 59,941 |
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 workshops at the school to take place January/February 2024.
Curzon – ring-fenced funds to be used for special needs project going forward as agreed by the Trustees.
Stone Songs – a donation from the late Veronica Stewart Arts Trust was received during the year and will be expended when appropriate.
Planets – Exeter House School and Salisbury Cathedral School each donated £2,000 towards this project which was completed in June 2023.
Bees – The Mackintosh Foundation donated £1,000 some of which has been spent on workshops with musicians seeking asylum in the UK. The rest to be added to any additional funding secured in future for the bee project hopefully in 2025.
Wincanton Race Day – Funds raised during a special charity race day event. Funds to be spent on future projects but not core funding. The board has agreed that £10,000 should go towards our next Evening Songs project with Exeter House School and the choristers of Salisbury Cathedral in Spring/Summer 2024.
Voices in the Landscape – this project to complete by October 2023. Upon completion a final amount of £9,000 will be received from the Chalke & Chase Landscape Partnership Scheme who holds the National Lottery Heritage Fund grant financing the project. A small amount of funds will be kept for rehearsals for a concert in 2024.
Powerful Voice – Mencap very kindly donated this fund to cover future expenditure for one of our Special Needs associates.
Musical Offerings – funds received for a one-off concert as part of the 2023 Salisbury International Arts Festival.
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