``` REGISTERED COMPANY NUMBER: 07299583 (England and Wales) REGISTERED CHARITY NUMBER: 1139783 ``` ## **`REPORT OF THE TRUSTEES AND`** ``` UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 ``` ``` FOR ``` ## **`ARCANGELO`** ``` Gibbons Mannington & Phipps LLP Chartered Accountants 82 High Street Tenterden Kent TN30 6JG ``` ``` ARCANGELO ``` ``` CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 ``` ||**`Page`**|**`Page`**|**`Page`**| |---|---|---|---| |**`Report of the Trustees`**|`1`|`to`|`5`| |**`Independent Examiner's Report`**||`6`|| |**`Statement of Financial Activities`**||`7`|| |**`Balance Sheet`**||`8`|| |**`Notes to the Financial Statements`**|`9`|`to`|`15`| ``` ARCANGELO (REGISTERED NUMBER: 07299583) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present theirreportwiththefinancialstatementsofthecharityfortheyearended30June2021.The trustees haveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` Toadvance,improve,developandmaintainpubliceducationin,andappreciationoftheartand science ofmusicinallitsaspectsbyanymeansthetrusteesseefit.Thisincludespresentationsofpublic concerts andrecitalsintheUKandabroadinwhichhistoricalperformancepracticeisappliedusinginstruments of the period and making recordings using historical performance practice. ``` ``` Thecharity'sworkcontinuestobeguidedbyourStrategicPlan,refreshedinJune2021.Theplan's four headlineaimsareto(1)Createworld-classperformances;(2)Buildstrong,sustainedrelationships; (3) Identify and support emerging talent and (4) Develop organisational resilience. ``` ## **`Public benefit`** ``` Thebeneficiariesofourworkareouraudienceswhomweendeavourtoinspirethroughafresh and relevantinterpretation,andtoincreasethroughdevelopedliveanddigitalperformanceactivities and media;thewiderClassicalMusicsectorasweadvanceartistsofthefutureanddriveinterestin repertoire through our projects, and the musicians with whom we work, both our emerging artists and soloists; ``` ``` WecontinuetoevaluateArcangelo'sactivitiesviaqualitativestatementsfromthepress,promoters, and fans,viaquarterlyself-reviewandinternalfeedbackfromourtrustees;attendanceandrevenuefrom the concertvenueandrecordingcompanies,andthereachofallkindsthatweachieve,including live, broadcast and streaming audiences, and website and social media engagement. ``` ``` Wearepleasedtoreportthatacrossallthesemeasures,anddespitetheongoingrestrictions, Arcangelo has continued to strongly deliver public benefit. ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ``` In2020-21wesuccessfullyrespondedtotheevolvingimpactsoftheCoronaviruspandemicwithan initial retrenchmentintherecordingstudiofollowedbyincreasinglyambitiousandsuccessfulconcertand young artistdevelopmentwork.Whilstthebulkofourplanned2020-21seasonfellawaythroughforce majeure, weworkedhardandpositivelytoensurethatour2021-22seasonwouldlaunchasplanned,assuming the returntomanageableconditionswhichhappilyproceededtoeventuate.Wealsoworkedwidely to developArcangelo'sfoundationsandprospects,withaboardawaydaytorefreshour 'post-pandemic approach',intensifiedrelationshipmanagementtodevelopandextendouragencynetwork,a resolved redevelopmentofArcangelo'swebsiteandonlinegivingtools,andanextensiveinternaland external consultation to relaunch our development and fundraising strategy. ``` ## `A. Concerts & Broadcasts` ``` Thepandemicnecessitatedthecancellation,postponementorreconfigurationofallscheduled 2020-21 concertandbroadcastactivity.Byandlarge,werescuedmorethanwaslost,either through mutually-agreedpostponements,orfrequentlyshort-termreassemblyofprogrammesandpersonnel to meetprevailingcircumstances.Inalmosteverycase,keyrelationshipswerepreserved,maintained, and even developed. ``` ``` OurconcertcomebackbeganinMarchwithback-to-backlivestreambroadcastsfromWigmoreHall with soloistsAlinaIbragimova(26March)andCarolynSampsonandTimMead(30March).Coinciding with peakinternationalattentionforWigmore'ssuccessfullockdownseries,theconcertsdrewa combined totalof19,000viewsinaperiodofsixweeks.Finally,on15June,WigmoreHallwasthevenuefor our firstconcertsinceFebruary2020toalimitedliveaudienceofaround200,withsoloistLiza Ferschtman stepping in at short notice for Barnabas Kelemen. ``` ``` Page 1 ``` ``` ARCANGELO (REGISTERED NUMBER: 07299583) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ``` Throughout2020-21,wemaintainedanincreasinglyintensivedialoguewiththeBBCPromsteam to sustainandrealiseaprestigiousinvitationtopresentBach'sStMatthewPassionatthe2021 festival (Arcangelofinancialyear2021-22)Thisinnatelychallengingprojectdevelopedmyriadcomplications as pandemicregulationsdevelopedandrelaxed,requiringmuchofourstaff'stimeandenergiesthrough the secondhalfoftheyear.Theannouncementoftheconcertatplannedfullcapacitywithradioand TV broadcastaspartoftheofficialserieslaunchon29Marchwasinitselfaconsiderableachievement which galvanisedourwholeteamandsupporterbaseandoccasionedwidespreadcelebrationfrom the international classical music audience. ``` ## `B. Recordings` ``` 2020-21resoundinglyprovedthewisdomofArcangelo'shistoricalcommitmenttotherecording studio. Intheabsenceofconcerts,thereleaseofpreviously-recordedalbumsprovidedforvisibility, critical appraisal,andreputationalandaudiencegrowth;theschedulingandexecutionofnewsessions ensured top-qualityworkforourmusicians,repertoireresearchanddevelopment,nurturedourrelationships with world-classsoloistsandourrecordlabels,providedmajoropportunitiesforfundraisingand supporter growth, and restocked the release pipeline. ``` ``` Two albums were released in 2020-21: ``` ``` Handel: Brockes Passion (Alpha Classics) - March 2021 ``` ``` With soloists Sandrine Piau, Stuart Jackson, Konstantin Krimmel ``` ``` RecordedattheculminationofourmajorconcertandrecordingprojectinOctober2020,our studio recordingofHandel'sneglectedearlymasterpiecewasaBBCRadio3andSundayTimesRecordof the WeekandaBRKlassikRecordoftheWeekinGermany.Furtherhighlypositivereviewscamefrom Res Musica,ForumOpera(France),Crescendo(Belgium),theNeueZürcherZeitung(Switzerland) and Gramophone Magazine. The album has received around 106,000 streams on Spotify (to January 2022). ``` ``` Various: 'Tiranno' (Alpha Classics) - May 2021 With soloist Kate Lindsey ``` ``` RecordedinOctober2021(seebelow),thisambitiousandimaginativerecitalprojectinstantlywon the highestcriticalappraisals,withGramophoneMagazinedeclaringita"modelofwhatarecitalalbum can be".FurtherawardsandcitationsincludedaBBCMusicMagazineOperaChoice,aGramophone Award nomination,anInternationalClassicalMusicAwardsnomination,aPrestoRecordingoftheyear, and positivereviewsfromTheTimes,OperaWire,TheGuardian,LimelightMagazine(Australia)and San Francisco Classical Voice. The album has received around 53,000 streams on Spotify (to January 2022). ``` ``` Four albums were recorded in 2020-21: ``` ``` Bach: Alto Cantatas Vol.2 (Hyperion) With soloist Iestyn Davies; recorded October 2020. ``` ``` Various: 'Tiranno' (Alpha Classics) With soloist Kate Lindsey; recorded October 2020. ``` ``` Boccherini: Cello Concertos (Alpha Classics) With soloist Nicolas Altstaedt; recorded May 2021. ``` ``` Vivaldi: 'Sacroprofano' (Alpha Classics) With soloist Tim Mead; recorded June-July 2021. ``` ``` Page 2 ``` ``` ARCANGELO (REGISTERED NUMBER: 07299583) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ## `C. Artist Development` ``` ThepandemicinevitablydisruptedourplansforourfirstcohortofArcangeloNewEnsemblists,but we respondedwithnewprogrammeactivitiesbasedonan'Academy'conceptwhilewewaited for performanceopportunitiestoresume,whilstalsoencouragingouryoungartiststomakeuseof other programmebenefitsincludinganallowancetosecurenewprofessionalphotography.Atotaloffour days ofAcademytuitionwerearrangedinFebruaryandMarch,coveringrepertoire,ornamentation and accompanimentwithleadtutoringfromJonathanCohenwithguestmentorsKatiDebretzeni,Bojan Cicic, JonathanMansonandNicholasMulroy.FromMarch,ourNewEnsemblistswereincludedinour live performanceactivity;wewereespeciallyproudthatourJuneconcertatWigmoreHallafforded bassist IsmaelCampaneroNietohisUKperformancedebut.PlansfortheNewEnsemblists'secondyear with ArcangeloincludeastudyretreatanddedicatedrecitalplatformatWigmoreHall,alongside multiple furtherperformanceopportunities.AuditionsforthesecondcohortofNewEnsemblistsareplanned for January 2022. ``` ## `D. Audience & Supporters` ``` Thepandemicremovedallopportunitiesforliveengagementwithgeneralconcertaudiencesand our closebodyofsupporters.Whilstwaryoffollowingotherartsorganisationsintothrowawaydigital content, werecognisedtheimportanceofconnectingbyavailablemeansandofferedatotalofthree online gatheringsintheyear,witha"virtualseasonlaunch"on30Septemberandspecialeventsinsupport of ourrecordingprojectswithTimMead(3December)andNicolasAltstaedt(25April).Allofthese events werehostedusingZoom,andattendanceatallwasgood,withaudiencesofaround50-100at every event.Ouronlinememberswebsiteprovedpopularwithsupporters,andausefultoolto incentivise mailinglistsign-ups.Threeself-producedArcangelopodcastepisodesdrewatotalof1,500listens to date (January 2022). ``` ``` Ourdigitalaudiencesandfollowingsgrewstrongly,partlydrivenbypandemiclifestyles amongst audiences,butprimarilyduetoourincreasingofferofqualitycontent,especiallymusictracks and performancevideo.OurYouTubechannelsubscriptionsgrewby32%,ourSpotifylistenersgrewby 44% and our mailing list subscriptions grew by 24%. ``` ## `E. Financial position and fundraising` ``` Thepandemicandtheforcemajeurecancellationofcontractedengagementssawuslosemuchof the year'splannedconcertrevenue,thoughourbusinessmodelmeantthatwehadrelativelylow pre-paid costexposure.Ourbiggestriskwasthroughpre-paidflightbookings,butthecancellationof most scheduledservicesentailedrefundsorcreditvouchers.OurongoingrelationshipwithWigmore Hall ensuredthatwenonethelesscontinuedtodrawcommercialincome.Ourrecordingactivity,supported by fundraising,provedhighlysuccessfulthankstoournewstrategyofco-optingalbumsoloistsas lead fundraisers,andalsoallowedustomakeanunprecedentedinvestmentinfilmingforthecreation of livestreamdonoreventsandpromotionalmusicvideosanddocumentaries.Allrecordingprojects secured fullcostrecovery,andattractednewdonors,wideningourbasisforfuturesupport.Theenhanced focus onrecordingfundraisingactivityneverthelessdivertedenergiesfromouressentialannualcore cost fundraisingcampaign,andinayearinwhichwehadaplannedfading-outofsupportfromthe Martin SmithFoundation.Asaresult,corefundraisingfellshortoftarget.Aboard-ledreviewagreed on measurestorelaunchanddevelopourcorefundraisingstrategyforthenextyear,includinganew board developmentsub-committee,newDevelopmentManagerhire,andinvestmentinfundraisingtools. The necessaryschedulingoftworecordingprojectsaroundyearend,withrelatedincomeand expenditure realisingafteryearend,istheprimarycauseofthehighyearonyearvariationintradeandother debtors and creditors. ``` ``` Page 3 ``` ``` ARCANGELO (REGISTERED NUMBER: 07299583) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ## **`FUTURE PLANS`** ``` Ourartisticplanningremainedsubjecttotheconstantly-changingimpactsofthepandemicand the varyingnatureofnationalandinternationalresponse.Theadvanceofpublicvaccinationsand other measuresandindicators,andtheenduringcommercialstrengthofourkeypromotional partners, neverthelessencouragedustocontinuetoplanconstructivelyforfutureseasons.Inadditionto firming upourseasonplansfor2021-22,andauditionsforthesecondcohortofourNew Ensemblists programme,wemadepreparationsforawholesalelong-termreviewofourartisticplanningin 2021-22, andapproachedanumberofagentswithaviewtodevelopingourEuropeansalesrepresentation, with constructive discussions ongoing at the end of the current year. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` Arcangeloisacompanylimitedbyguarantee,withoutsharecapital,incorporatedon30June2010 and registered as a charity on 12 January 2011. ``` ``` ThecompanywasestablishedunderaMemorandumofAssociation,whichsetsouttheobjects and powers of the charitable company and is governed by its Articles of Association. ``` ## **`Recruitment and appointment of new trustees`** ``` Weendeavourtohaveatrusteegroupthatoffersthecharityavariedskillset,sinceArcangelo expects andneedspracticalhelpaswellasgovernancefromitsboard.Wehaveusedavarietyofmethods to identifyandattracttrustees,includingtheArtsandBusinessBoardBank,Nurole,peerand sector recommendations,andindividual-basedapproaches.Potentialtrusteesareinterviewedby several existing trustees to ensure a fit, and their appointment is agreed by a majority of the directors. ``` ## **`Organisational structure and governance`** ``` Thecompanyismanagedandadministeredonaday-to-daybasisbyitsGeneralManager,with reference toanagreedScheduleofAuthoritiesandDelegations.TheGeneralManagerconfersregularlywith the ArtisticDirectorandreportsregularlytotheChairoftheTrustees.TheBoardofTrusteesmeetsevery few monthstoreviewtheactivitiesofthecompanyandtoconsidermorecloselythefinancialand managerial status.Therecruitmentandappointmentofonenewtrusteeandtheinstitutionofarolling quarterly governancereviewcyclehasstrengthenedthecharity'sgovernance,includingthereview and development of operational policies and protocols. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`** ``` 07299583 (England and Wales) ``` ## **`Registered Charity number`** ``` 1139783 ``` ## **`Registered office`** ``` 82 High Street Tenterden Kent TN30 6JG ``` ## **`Trustees`** ``` J Cohen Ms A J Buck Ms L L Rayfield D B Rockwell Mrs R M S Wilkinson R G Mayhew Professor C A Potter Mrs M De-Fry (appointed 29/9/2020) ``` ``` Page 4 ``` ``` ARCANGELO (REGISTERED NUMBER: 07299583) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021`** ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Independent Examiner`** ``` Gibbons Mannington & Phipps LLP Chartered Accountants 82 High Street Tenterden Kent TN30 6JG ``` ## **`Principal Staff`** ``` General Manager - J Forbes ``` ``` ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompanies Act 2006 relating to small companies. ``` ``` Approved by order of the board of trustees on 16 March 2022 and signed on its behalf by: ``` ``` Mrs R M S Wilkinson - Trustee ``` ``` Page 5 ``` ``` INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARCANGELO ``` ## **`Independent examiner's report to the trustees of Arcangelo ('the Company')`** ``` IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended 30 June 2021. ``` ## **`Responsibilities and basis of report`** ``` Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act 2006 ('the 2006 Act'). ``` ``` HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16 of the2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your charity'saccountsascarriedoutundersection145oftheCharitiesAct2011('the2011Act').In carrying outmyexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionundersection 145(5) (b) of the 2011 Act. ``` ## **`Independent examiner's statement`** ``` Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentionin connection with the examination giving me cause to believe: ``` `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 (FRS 102)).` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be reached. ``` ``` Miss Samantha Whiting FCA ``` ``` ICAEW Gibbons Mannington & Phipps LLP Chartered Accountants 82 High Street Tenterden Kent TN30 6JG ``` ``` 28 March 2022 ``` ``` Page 6 ``` ``` ARCANGELO ``` ## **`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2021`** |`Unrestricted`
`fund`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`62,089`**
**`Charitable activities`**
`4`
`Performances and recordings`
**`40,974`**
`Investment income`
`3`
**`10`**
**`Total`**
**`103,073`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`5`
`Performances and recordings`
**`127,533`**
**`NET INCOME/(EXPENDITURE)`**
**`(24,460)`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`118,744`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`94,284`**|`Restricted`
`funds`
`£`
**`97,100`**
**`-`**
**`-`**
**`97,100`**
**`96,319`**
**`781`**
**`7,620`**
**`8,401`**|**`2021`**
**`Total`**
**`funds`**
**`£`**
**`159,189`**
**`40,974`**
**`10`**
**`200,173`**
**`223,852`**
**`(23,679)`**
**`126,364`**
**`102,685`**|`2020`
`Total`
`funds`
`£`
`126,057`
`152,253`
`10`
`278,320`
`281,309`
`(2,989)`
`129,353`
`126,364`| |---|---|---|---| ``` The notes form part of these financial statements ``` ``` Page 7 ``` ``` ARCANGELO (REGISTERED NUMBER: 07299583) ``` ## **`BALANCE SHEET 30 JUNE 2021`** |`Unrestricted`
`fund`
`Notes`
`£`
**`CURRENT ASSETS`**
`Debtors`
`10`
**`34,754`**
`Cash at bank`
**`68,979`**
**`103,733`**
**`CREDITORS`**
`Amounts falling due within one year`
`11`
**`(9,449)`**
**`NET CURRENT ASSETS`**
**`94,284`**
**`TOTAL ASSETS LESS CURRENT`**
**`LIABILITIES`**
**`94,284`**
**`NET ASSETS`**
**`94,284`**
**`FUNDS`**
`12`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Restricted`
`funds`
`£`
**`18,202`**
**`27,691`**
**`45,893`**
**`(37,492)`**
**`8,401`**
**`8,401`**
**`8,401`**|**`2021`**
**`Total`**
**`funds`**
**`£`**
**`52,956`**
**`96,670`**
**`149,626`**
**`(46,941)`**
**`102,685`**
**`102,685`**
**`102,685`**
**`94,284`**
**`8,401`**
**`102,685`**|`2020`
`Total`
`funds`
`£`
`17,666`
`128,286`
`145,952`
`(19,588)`
`126,364`
`126,364`
`126,364`
`118,744`
`7,620`
`126,364`| |---|---|---|---| ``` ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006 for the year ended 30 June 2021. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006. ``` ``` The trustees acknowledge their responsibilities for ``` - `(a) ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company.` ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on 16 March 2022 and were signed on its behalf by: ``` ``` D B Rockwell - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 8 ``` ``` ARCANGELO ``` ``` NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 ``` ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102, havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'Accountingand Reporting byCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheir accounts inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland (FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting StandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct2006.The financial statements have been prepared under the historical cost convention. ``` ## **`Income`** ``` AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to thefunds,itisprobablethattheincomewillbereceivedandtheamountcanbemeasured reliably. Anyincomingresourcesreceivedinanaccountingperiodthatrelateexclusivelytofutureyears are deferred on the balance sheet. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they have been allocated to activities on a basis consistent with the use of resources. ``` ## **`Taxation`** ``` The charity is exempt from corporation tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular restricted purposes. ``` ``` Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial statements. ``` ## **`Debtors`** ``` Tradeandotherdebtorsarerecognisedatthesettlementamountdueafteranydiscount offered. Prepaymentsarevaluedattheamountprepaidattheyearendaftertakingaccountof any discount due. ``` ## **`Creditors and provisions`** ``` Creditorsandprovisionsarerecognisedwherethecharityhasapresentobligationresultingfrom a pasteventthatwillprobablyresultinthetransferoffundstoathirdpartyandtheamountdue to settletheobligationcanbemeasuredorestimatedreliably.Creditorsandprovisionsare normally recognised at their settlement amount after allowing for any discounts due. ``` ``` continued... ``` ``` Page 9 ``` ``` ARCANGELO ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 ``` ## **`2. DONATIONS AND LEGACIES`** |**`DONATIONS AND LEGACIES`**||| |---|---|---| ||**`2021`**|`2020`| ||**`£`**|`£`| |`Gifts and donations`|**`148,036`**|`116,690`| |`Gift aid`|**`11,153`**|`9,367`| ||**`159,189`**|`126,057`| ``` See note 13, related party disclosures, for details of donations to the charity from Trustees. ``` ## **`3. INVESTMENT INCOME`** |`Deposit account interest`
**`4.`**
**`INCOME FROM CHARITABLE ACTIVITIES`**
`Performances and recordings`
`Other income`
**`5.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Performances and recordings`
**`6.`**
**`SUPPORT COSTS`**
`Performances and recordings`|`Direct`
`Costs`
`£`
**`210,152`**
`Other`
`£`
**`1,558`**|**`2021`**
**`£`**
**`10`**
**`2021`**
`Performances`
`and`
`recordings`
**`£`**
**`40,683`**
**`291`**
**`40,974`**
`Support`
`costs (see`
`note 6)`
`£`
**`13,700`**
`Governance`
`costs`
`£`
**`12,142`**||`2020`
`£`
`10`
`2020`
`Total`
`activities`
`£`
**`145,537`**
**`6,716`**
**`152,253`**
`Totals`
`£`
**`223,852`**
`Totals`
`£`
**`13,700`**| |---|---|---|---|---| |||||| ``` continued... ``` ``` Page 10 ``` ``` ARCANGELO ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 ``` ## **`6. SUPPORT COSTS - continued`** ``` Support costs, included in the above, are as follows: ``` |**`Other`**
**`2021`**
`Performances`
`and`
`recordings`
**`£`**
`Insurance`
**`905`**
`Postage, stationery and office`
**`653`**
**`1,558`**
**`Governance costs`**
**`2021`**
`Performances`
`and`
`recordings`
**`£`**
`Bank charges`
**`225`**
`Foreign exchange differences`
**`100`**
`Professional fees - filming services`
**`6,030`**
`Legal and professional fees`
**`2,592`**
`Sundries`
**`1,570`**
`Accountancy`
**`1,625`**
**`12,142`**
**`7.`**
**`NET INCOME/(EXPENDITURE)`**
`Net income/(expenditure) is stated after charging/(crediting):`
**`2021`**
**`£`**
`Independent examination fee`
**`900`**|`2020`
`Total`
`activities`
`£`
**`1,106`**
**`521`**
**`1,627`**
`2020`
`Total`
`activities`
`£`
**`560`**
**`374`**
**`454`**
**`3,765`**
**`2,014`**
**`1,520`**
**`8,687`**
`2020`
`£`
`875`| |---|---| ## **`8. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended30June2021nor for the year ended 30 June 2020. ``` ``` Seenote13fordetailsofperformancefees(notforserviceasatrustee)paidtoJonathanCohen in his capacity as Artistic Director. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended30June2021norfortheyear ended 30 June 2020. ``` ``` continued... ``` ``` Page 11 ``` ``` ARCANGELO ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 ``` |**`9.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
`Unrestricted`
`fund`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`64,532`
**`Charitable activities`**
`Performances and recordings`
`152,253`
`Investment income`
`10`
**`Total`**
`216,795`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Performances and recordings`
`219,784`
**`NET INCOME/(EXPENDITURE)`**
`(2,989)`
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`121,733`
**`TOTAL FUNDS CARRIED FORWARD`**
`118,744`
**`10.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
`Other debtors`
`VAT`
`Prepayments`||`Restricted`
`funds`
`£`
`61,525`
`-`
`-`
`61,525`
`61,525`
`-`
`7,620`
`7,620`
**`2021`**
**`£`**
**`23,202`**
**`27,203`**
**`-`**
**`2,551`**
**`52,956`**|`Total`
`funds`
`£`
`126,057`
`152,253`
`10`
`278,320`
`281,309`
`(2,989)`
`129,353`
`126,364`
`2020`
`£`
`5,764`
`4,578`
`308`
`7,016`
`17,666`| |---|---|---|---| ||||| ``` continued... ``` ``` Page 12 ``` ``` ARCANGELO ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 ``` ## **`11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**||| |---|---|---| |`Trade creditors`
`VAT`
`Other creditors`
`Accrued expenses`
`Deferred income`|**`2021`**
**`£`**
**`24,593`**
**`1,739`**
**`16,084`**
**`4,525`**
**`-`**
**`46,941`**|`2020`
`£`
`2,857`
`-`
`281`
`6,350`
`10,100`| |||`19,588`| ``` Deferredincomerelatestomoniesreceivedinadvance,forcertaineventswhichhavenot taken place before the year end. ``` ## **`12. MOVEMENT IN FUNDS`** |**`MOVEMENT IN FUNDS`**|||| |---|---|---|---| |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Fundraising consultancy`
`Bach recording`
`Kate Lindsey recording`
`Boccherini recording`
`Vivaldi Recording`
**`TOTAL FUNDS`**|`At 1/7/20`
`£`
**`118,744`**
**`7,620`**
**`-`**
**`-`**
**`-`**
**`-`**
**`7,620`**
**`126,364`**|`Net`
`movement`
`in funds`
`£`
**`(24,460)`**
**`-`**
**`235`**
**`379`**
**`38`**
**`129`**
**`781`**
**`(23,679)`**|`At`
`30/6/21`
`£`
**`94,284`**
**`7,620`**
**`235`**
**`379`**
**`38`**
**`129`**| ||||**`8,401`**| ||||**`102,685`**| ``` Net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Bach recording`
`Kate Lindsey recording`
`Boccherini recording`
`Vivaldi Recording`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
**`103,073`**
**`17,756`**
**`18,885`**
**`36,068`**
**`24,391`**
**`97,100`**
**`200,173`**|`Resources`
`expended`
`£`
**`(127,533)`**
**`(17,521)`**
**`(18,506)`**
**`(36,030)`**
**`(24,262)`**
**`(96,319)`**
**`(223,852)`**|`Movement`
`in funds`
`£`
**`(24,460)`**
**`235`**
**`379`**
**`38`**
**`129`**
**`781`**
**`(23,679)`**| |---|---|---|---| ``` continued... ``` ``` Page 13 ``` ``` ARCANGELO ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 ``` ## **`12. MOVEMENT IN FUNDS - continued`** ## **`Comparatives for movement in funds`** |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Fundraising consultancy`
**`TOTAL FUNDS`**|`At 1/7/19`
`£`
`121,733`
`7,620`
`129,353`|`Net`
`movement`
`in funds`
`£`
`(2,989)`
`-`
`(2,989)`|`At`
`30/6/20`
`£`
`118,744`
`7,620`| |---|---|---|---| ||||`126,364`| ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Brockes Passion recording`
`Buxtehude Trio Sonatas recording`
`'Arianna'`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`216,795`
`41,485`
`6,483`
`13,557`
`61,525`
`278,320`|`Resources`
`expended`
`£`
`(219,784)`
`(41,485)`
`(6,483)`
`(13,557)`
`(61,525)`
`(281,309)`|`Movement`
`in funds`
`£`
`(2,989)`
`-`
`-`
`-`
`-`
`(2,989)`| |---|---|---|---| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Fundraising consultancy`
`Bach recording`
`Kate Lindsey recording`
`Boccherini recording`
`Vivaldi Recording`
**`TOTAL FUNDS`**|`At 1/7/19`
`£`
`121,733`
`7,620`
`-`
`-`
`-`
`-`
`7,620`
`129,353`|`Net`
`movement`
`in funds`
`£`
`(27,449)`
`-`
`235`
`379`
`38`
`129`
`781`
`(26,668)`|`At`
`30/6/21`
`£`
`94,284`
`7,620`
`235`
`379`
`38`
`129`| |---|---|---|---| ||||`8,401`| ||||`102,685`| ``` continued... ``` ``` Page 14 ``` ``` ARCANGELO ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 ``` ## **`12. MOVEMENT IN FUNDS - continued`** ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Brockes Passion recording`
`Buxtehude Trio Sonatas recording`
`'Arianna'`
`Bach recording`
`Kate Lindsey recording`
`Boccherini recording`
`Vivaldi Recording`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`319,868`
`41,485`
`6,483`
`13,557`
`17,756`
`18,885`
`36,068`
`24,391`
`158,625`
`478,493`|`Resources`
`expended`
`£`
`(347,317)`
`(41,485)`
`(6,483)`
`(13,557)`
`(17,521)`
`(18,506)`
`(36,030)`
`(24,262)`
`(157,844)`
`(505,161)`|`Movement`
`in funds`
`£`
`(27,449)`
`-`
`-`
`-`
`235`
`379`
`38`
`129`
`781`
`(26,668)`| |---|---|---|---| ``` Fundingwasreceivedinpreviousyearsforafreelancefundraisingconsultant,thisfundis being spentoveranumberofyearsinaccordancewiththeofthelevelofconsultancyworkrequired and costs incurred. ``` ``` Fundingwasreceivedduringtheyearfor4recordingprojects:IestynDaviesBach,Kate Lindsey, NicolasAlstaedtBoccheriniandTimMeadVivaldi.Thisfundingwasfullyexpendedinthe reporting year. ``` ## **`13. RELATED PARTY DISCLOSURES`** ``` Performancefees(notforserviceasatrustee)werepaidtoArtisticDirector,Jonathan Cohen duringtheyeartotalling£6,950(2020:£11,815)grossoftaxandexcludingVAT,andbefore his agent'scommission.ThesefeeswereconsideredindividuallyandapprovedbytheTrusteesof the charity at a minuted meeting convened in Jonathan Cohen's absence. ``` ``` DuetotheongoingextraordinarycircumstancesoftheCovidpandemictheTrusteesreviewed its arrangementwithJonathanCohenforadditionalongoingservicesasArtisticDirectorand approved theextensionofthisarrangementtoFebruary2021.Theseserviceswouldinclude artistic programmingandresearch,talentsearchandsupportoftheNewEnsemblistsprogramme, and workinsupportoffundraisingactivityincludingpromotionandperformance.£15,600waspaid to JonathanCohenduringtheyearfortheprovisionoftheseservices.Thisarrangementwas not renewedbeyondFebruary2021bymutualagreement,andnoprovisionhasbeenmade,or is ongoing, for a future renewal of this arrangement subject to further resolution of the board. ``` ``` ThetotalvalueofdonationsmadetothecharityintheyearfromTrusteeswas£41,130 (2020: £30,500). ``` ``` Page 15 ```