| Page | |||||
|---|---|---|---|---|---|
| Trustees' | annual report | (incorporating | the director's report) | ||
| Independent auditor's |
report to the members | ||||
| Statement | offinancial | activities (including | income and expenditure | ||
| account) | |||||
| Statement | offinancial | position | 10 | ||
| Statement | ofcash flows | ||||
| Notes to | the financial | statements | 12 |
==> picture [142 x 12] intentionally omitted <==
| Reference | and administrative | and administrative | details | |||
|---|---|---|---|---|---|---|
| Registered | charity name | London Contemporary | Orchestra Limited | |||
| Charity registration | number | 1129768 | ||||
| Company | registration | number | 06895875 | |||
| Principal | office and registered | Suite 116 | ||||
| office | 43 Bedford Street | |||||
| Covent Garden | ||||||
| London | ||||||
| United Kingdom | ||||||
| WC2E 9HA | ||||||
| The trustees | ||||||
| Mr N Mumby | ||||||
| Mr M Sanii | ||||||
| Company | secretary | Mr M Sanii | ||||
| Auditor | Brooks4Co. | |||||
| Chartered Accountants |
& Statutory | Auditor | ||||
| 9Cheam Road | ||||||
| Ewell | ||||||
| Epsom | ||||||
| Surrey | ||||||
| KT17 1SP |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | |||||||
| funds | Total funds | Total funds | |||||
| Note | |||||||
| Income and endowments | |||||||
| Donations and legacies |
5 | 25,000 | |||||
| Charitable activities |
6 | 1,384,218 | 1,384/18 | 1,111,354 | |||
| Other income | 7 | 107,605 | 107,605 | 63,627 | |||
| Total income | 1,491,823 | 1,491,823 | 1,199,981 | ||||
| Expenditure | |||||||
| Expenditure on charitable |
activities | 8,9 | 1,464,212 | 1,464,212 | 1,121,724 | ||
| Total expenditure | 1,464,212 | 1,464,212 | 1,121,724 | ||||
| Net income and net | movement | in funds | 27,611 | 27,611 | 78,257 | ||
| Reconciliation offunds |
|||||||
| Total funds brought | forward | 150,160 | 150,160 | 71,903 | |||
| Total funds carried | forward | 177,771 | 177,771 | 150,160 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | ||||
| Current assets | ||||
| Debtors | 14 | 209,743 | 118,702 | |
| Cash at bank and in | hand | 170424 | 107,116 | |
| 380,067 | 225,818 | |||
| Creditors: amounts | falling due within one year | 202496 | 75,658 | |
| Net current assets | 177,771 | 150,160 | ||
| Total assets less current liabilities | 177,771 | 150,160 | ||
| Net assets | 177,771 | 150,160 | ||
| Funds ofthe charity | ||||
| Unrestricted funds |
177,771 | 150,160 | ||
| Total charity funds | 17 | 177,771 | 150,160 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Cash flows from operating | activities | ||||||
| Net income | 27,611 | 78,257 | |||||
| Adjustments for: | |||||||
| Interest payable | and similar | charges | 1,150 | 669 | |||
| Accrued expenses | 19,792 | 21,014 | |||||
| Changes in: | |||||||
| Trade and other | debtors | (106@86) | (70,809) | ||||
| Trade and other | creditors | 122,191 | (46,165) | ||||
| Cash generated | from operations | 64,358 | (17,034) | ||||
| Interest paid | (1,150) | (669) | |||||
| Net cash from/(used in) |
operating | activities | 63,208 | (17,703) | |||
| Net increase/(decrease) | in | cash | and cash | equivalents | 63+08 | (17,703) | |
| Cash and cash | equivalents | at beginning | ofyear | 107,116 | 124,819 | ||
| Cash and cash | equivalents | at end ofyear | 170@24 | 107,116 |
| Donations |
an | d legacies | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||||
| Funds | Funds | 2023 | 2022 | ||||
| Grants &awards | 25,000 | ||||||
| Charitable | activities | ||||||
| Unrestricted | Restricted | Total Funds | Total | Funds | |||
| Funds 2023 | Funds 2023 | 2023 | 2022 | ||||
| Performance | fees | 1,384,218 | 1,384,218 | 1,111,354 | |||
| Other income | |||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2023 | Funds | 2022 | ||||
| Other income | receivable | 107,605 | 107,605 | 63,627 | 63,627 | ||
| This relates | to orchestral tax | relief. | |||||
| Expenditure | on charitable | activities by fund type | |||||
| Unrestricted | Restricted | Total Funds | Total | Funds | |||
| Funds | Funds | 2023 | 2022 | ||||
| Charitable | activities | ||||||
| expenses | 1/83,732 | 1,283,732 | 965,350 | ||||
| Commission | on royalties | 5,497 | 5,497 | 15,277 | |||
| Support costs | 174,983 | 174,983 | 141,097 | ||||
| 1,464,212 | 1,464/12 | 1,121,724 |
| Expenditure | on charitable | activities by activity type | activities by activity type | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | ||||||
| Funds | Funds | 2023 | 2022 | ||||||
| Charitable | activities | ||||||||
| expenses | 1,283,732 | 1,283,732 | 965,350 | ||||||
| Commission | on royalties | 5,497 | 5,497 | 15,277 | |||||
| Support costs | 174,983 | 174,983 | 141,097 | ||||||
| 1,464/12 | 1,464/12 | 1,121,724 | |||||||
| Analysis of | support costs | ||||||||
| Performance | Employment | ||||||||
| &promotion | k, education | Governance | |||||||
| ofmusic | ofyoung | costs | Total 2023 | Total 2022 | |||||
| K | |||||||||
| Governance | costs | 51,082 | 27,936 | 23,866 | 102,883 | 79,214 | |||
| Finance costs | 1,327 | 1@27 | 669 | ||||||
| Human resources | 35/86 | 17,693 | 17,693 | 70,772 | 61,214 | ||||
| 86,468 | 45,629 | 42,886 | 174,983 | 141,097 |
| Independent | ex | amination | fees | ||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| Fees payable | to | the independent | examiner | for: | |||
| Independent | examination | ofthe | financial | statements | 1,750 | 1,750 | |
| Other financial | services | 7+50 | 7,250 | ||||
| 9,000 | 9,000 |
| Staffcosts | |||||
|---|---|---|---|---|---|
| The total staff costs and | employee | benefits for the reporting | period are analysed | as follows: | |
| 2023 | 2022 | ||||
| Wages and salaries | 69@40 | 58,846 | |||
| Social security costs | 185 | 1,159 | |||
| Employer contributions | to pension | plans | 1,246 | 1,210 | |
| 70,771 | 61,215 |
| Debtors | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Trade debtors | 93,979 | 28,972 | ||
| Prepayments | and accrued income | 8,159 | 23,504 | |
| Other debtors | 107,605 | 66,226 | ||
| 209,743 | 118,702 | |||
| Creditors: amounts | falling due within one year | |||
| 2023 | 2022 | |||
| Trade creditors | 127,897 | 5,846 | ||
| Accruals and | deferred income | 69,507 | 65,060 | |
| Social security and other taxes | 4,614 | 1,900 | ||
| Other creditors | 278 | 2,852 | ||
| 202,296 | 75,658 |
==> picture [415 x 126] intentionally omitted <==
| 17. | Analysis ofcharitable | Analysis ofcharitable | funds | (eonsnued) | (eonsnued) | ||||
|---|---|---|---|---|---|---|---|---|---|
| Restricted funds | |||||||||
| At | At | ||||||||
| 1st September | 31stAugust | ||||||||
| 2022 | Income | Expenditure | 2023 | ||||||
| Restricted Fund | |||||||||
| At | At | ||||||||
| 1st September | 31stAugust | ||||||||
| 2021 | Income | Expenditure | 2022 | ||||||
| Restricted Fund | 26,199 | (26,199) | |||||||
| 18. | Analysis ofnet assets | between | funds | ||||||
| Unrestricted | Restricted | Total | Total Funds | ||||||
| Funds | Funds | Funds 2023 | 2022 | ||||||
| Current assets | 380,067, | 380,067 | 225,818 | ||||||
| Creditors less than |
1 year | (202,296) | (202/96) | (75,658) | |||||
| Net assets/(liabilities) | 177,771 | 177,771 | 150,160 | ||||||
| 19. | Analysis ofchanges | in net debt | |||||||
| At | |||||||||
| At 1 Sep 2022 | Cash flows | 31Aug 2023 | |||||||
| Cash at bank and in | hand | 107,116 | 63,208 | 170424 | |||||
| 20. | Related parties |