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 2022
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 2022
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Report of the Trustees |
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Independent Examiner's Report |
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Statement of Financial Activities |
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Balance Sheet |
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Notes to the Financial Statements |
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ARCANGELO (REGISTERED NUMBER: 07299583)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended30June2022.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
theperiod,aswellastofurthersuchcharitablepurpose(s)asthetrusteesmaythinkfit(including by
making grants and donations)
Thecharity'sworkinfulfilmentofitsobjectsisguidedatanoperationallevelbytheheadlineaimsof its
StrategicPlan,whichare(1)tocreateworld-classperformances;(2)tobuildstrong, sustained
relationships; (3) to identify and support emerging talent and (4) to develop organisational resilience.
Public benefit
Thebeneficiariesofourworkare(1)ouraudiences,whomweendeavourtoinspirethroughfresh and
relevantinterpretations,andtoincreasethroughliveanddigitalperformanceactivitiesandmedia; (2)
thewiderClassicalMusicsectorasweadvanceartistsofthefutureanddriveinterestin repertoire
throughourprojects;and(3)themusicianswithwhomwework,bothouremergingartistsand our
soloists.
WecontinuetoevaluateArcangelo'sactivitiesviaqualitativestatementsfromthepress,promoters, and
fans;viaquarterlyself-reviewandinternalfeedbackfromourtrustees;viareviewofattendance and
revenuefiguresfromtheconcertvenueandrecordingcompaniesandviaanalysisofthereachofall kinds
thatweachieve,includinglive,broadcastandstreamingaudiences,aswellaswebsiteandsocial media
engagement.
Wearepleasedtoreportthatacrossallthesemeasures,Arcangelohascontinuedtostrongly deliver
publicbenefit,andthatthecurrentyearhasdefiedpost-pandemicexpectationswithastrongreturn to
public performance in the UK and abroad, including several venue debuts.
ACHIEVEMENT AND PERFORMANCE
Theopeningofour2021-22yearcoincidedserendipitouslywiththerelaxationofpandemicrestrictions on
liveperformanceintheUKandabroad.Despitelocalisedwinterlockdowns,wewereabletopresent our
fullplannedseasonofliveperformancesintheUKandabroad,openingwithacritically-acclaimed return
totheBBCPromsinSeptemberwithourfirstperformanceofBach'sStMatthewPassionto a
near-capacityliveaudienceandinternationalbroadcastaudiencesonBBCRadioandTelevision-in terms
ofdiffusion,ourbiggestconcertever.Theremainderoftheseasonwasbuiltonanofficial Season
ResidencyatWigmoreHallwhichprovidedanenviableplatformoffiveappearancesatthisvenue, and
featured extensive touring activity including numerous venue and festival debuts.
Awayfromtheconcerthall,wecompletedstrategicandorganisationalworkcommencedinthe previous
year,launchingaredevelopedwebsitewithsecure,user-friendlyfacilitiesforone-offandrepeat giving,
andimplementingtherecommendationsofamajorreviewofourdevelopmentstrategy.We maintained
momentumdevelopedinlockdowninrespectoffutureartisticplanning,developingour programming
portfolio,continuingsalesworkwithourestablishedforeignagents,andsigningnew territory
representationagreementsforFrance,Germany,AustriaandSwitzerland.Attheendoftheyear we
welcomedtwonewmemberstothestaffteam,bringingaddedresourcetoplannedgrowthin our
fundraisinganddonor-relationactivities,andtofurtherdevelopmentofourNewEnsemblistsyoung artist
programme.
Page 1
ARCANGELO (REGISTERED NUMBER: 07299583)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 JUNE 2022
Concerts & Broadcasts
Our2021-22seasonopenedwithatriumphantBBCPromsperformanceofBach'sStMatthewPassion to
anearcapacity,non-distancedliveaudienceattheRoyalAlbertHall,andbroadcastonBBCRadio3 and
BBCTelevision.ThePromsseasonhadopenedwithCOVID-19restrictionsstillinforce,including on
stage,anditsohappenedthatourPromwasoneofthefirstconcertsintheseason,and anywhere
nationallysinceMarch2020,totakeplace"asnormal".AsnotedbytheArtsDeskreviewer,thisgave the
concertaddedresonanceasamomentofwidernationalrenewal:"HerewasahugeProms statement,
madewithnoshowystuntsbutwithtremendouswarmth,generosityandfinesseatamomentpoised- as
onsomeGoodFridayinLeipzig275yearsago-betweenmemoriesofanguishandhopesof renewal…
This evening was a special gift. Gripped, touched and delighted, the audience understood it."
Autumn2021sawawelcomereturntoEuropeantouringwitharangeofprogrammesand collaborations.
InSeptemberwemadeourdebutappearanceattheLisztAcademyBudapestwithsoloist Barnabas
Kelemen.Octobersawafirst-evercollaborationwithmandolinvirtuosoAviAvitalinconcertsat Wigmore
HallandaterritoryandvenuedebutatTeatroPerezGaldosonGranCanaria.Finally,before Christmas,
anddespiteimpendingwinterlockdown,wesuccessfullycompletedatwo-concertprojectof Schuetz's
ChristmasStorywithavenuedebutatDeBijlokeinGhentandafinalconcertatWigmoreHallwhich was
awardedafive-starreviewbyNicholasKenyonintheDailyTelegraph.February2022sawafestival debut
attheBathBachfestwithsoloistsCarolynSampsonandTimMead;thisprogrammewasalsorepeated at
WigmoreHall.InMarchwemadeafurtherfestivaldebut,givingtwoperformancesat Musica-Musika
BilbaowithsoloistsJessicaCale,SamBodenandMalachyFrame.Weconcludedtheseasonwith a
programme of Mozart and Haydn with soloists Carolyn Sampson and Ashley Riches at Wigmore Hall.
Recordings
Havingexceededourobjectivesintermsofnewstudiorecordingsinlockdown,andwithrecord label
releaseschedulesgenerallysaturatedwithlockdownprojects,wedecidedtotakeabreakfrom recording
activitiesin2021-22.Thisdecisionadditionallyenabledustofocusonourcorefundraisingactivities and
on the recommendations of our development review (see below).
Twoalbumswerereleasedin2021-22,bothofwhichmarkedthedevelopmentorcompletionof ongoing
recording projects.
Buxtehude: Trio Sonatas Op.2 (Alphas Classics) - Released September 2021
RecordedinFebruary2020,thisalbumcontinuesourjourneythroughtherelativelyunexplored chamber
musicofDietrichBuxtehudewithanall-starchamberensemble,followingthe GRAMMY-nominated
release of Vol.1 in 2016
Bach: Alto Cantatas Vol.2 (Hyperion Records) - Released February 2022
With soloist Iestyn Davies.
RecordedinOctober2020,thisalbumcompletesoursurveyofBach'sAltoCantataswithIestynDavies on
Hyperion Records, following the Gramophone Award-winning release of Vol.1 in 2016 .
Thenewvolumewonoutstandingcriticalappraisals,includinga'RecordoftheWeek'citationfrom BBC
Radio3andnominationsfor'RecordoftheYear'fromLimelightMagazineandtheInternational Classical
Music Awards.
Ourrecordingactivitieswillresumein2022-23,whichwillalsoseethereleaseofthelasttwo recordings
madein2020-21:VivaldiCantataswithTimMeadandBoccheriniCelloConcertosVol.1with Nicolas
Altstaedt (both Alpha Classics).
Artist Development
TheendoflockdownrestrictionswasofparticularconsequenceforourfirstcohortofArcangelo New
Ensemblists(ANE).Havingenduredafirstprogrammeyearlargelyinlockdown,ourthreeyoung artists
wereabletoenjoyahugerangeofopportunitieswithArcangeloin2021-22.Allthreeperformedas part
ofourBBCPromsStMatthewPassionandmadenumerousfurtherappearancesacrossvarious projects
over the rest of the year.
Page 2
ARCANGELO (REGISTERED NUMBER: 07299583)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022
Attheendoftheyearwewerefortunatetobeabletoholdanartisticmini-retreatforthe New
Ensemblists,rehearsingmaterialforashowcaselunchtimeconcertatWigmoreHall.OurNew Ensemblists
providedmanifoldtestimonyongraduationoftransformativecareerimpactthroughparticipationin the
scheme,withnumerousfurtheropportunitiesandprofessionalcontactsdirectlyarisingthrough ANE
activities,enhancedpersonalandprofessionalconfidenceandstatus,andtheopportunityto develop
personal projects with the support of the scheme.
Withtheschemehavingsoresoundinglyproveditsworthandvaluebothtoparticipantsand Arcangelo,
plansforsecondcohortauditionswerelaunchedwithenthusiasmandtoagreatreception,withatotal of
94applicationsforauditionsinJanuary2022.Threenewmusicianshavebeenchosentojoin the
programmefor2022-24.Theprogrammeitselfwillbeconsiderablydevelopedoverthe 2020-22
programme,withthesuccessofthefirstcohorthavingopeneduparangeofopportunitiesfor further
programmedevelopmentincludingpartnershipwork,togetherwithaddedsupportfromour incoming
Assistant Producer and Trusts & Foundations Assistant.
Audience & Supporters
Theyearwitnessedatriumphantreturntoliveperformance,withatotalliveaudienceof7,000across all
concertengagements.TheBBCRadio3broadcastandBBCTelevisionbroadcastofourSt Matthew
PassionattheBBCPromsbroughtthisconcerttoadditionalhundredsofthousandsofviewers and
listenersaroundtheworld.Althoughwehavenoaccesstoofficialdatawecanbeconfidentthatthis was
Arcangelo's most widely-diffused concert in its history.
Ourdigitalaudiencescontinuedtogrowstrongly,supportedbytheongoingpopularityofour streaming
catalogue. The resumption of live performances prompted a major boost to new mailing list subscriptions.
Organisational / Governance
Themajoractivityoftheyearwasimplementingtherecommendationsofacomprehensive board-led
reviewofArcangelo'sDevelopmentwork,encompassingourcaseforsupport,organisationalstaffing and
resource,individualdonorrelations,andeligibilityforTrusts&Foundations.The principal
implementationsweretheformationofadedicatedboardsub-committeeandtherecruitmenttothe full
boardandthissub-committeeofCarolynMaddoxasanewtrustee,arelaunchoftheArcangelo Friends
Schemearoundafull-developedactivityandengagementprogramme,andthehiringoftwonew team
members.VictoriaHodgkinsonwasappointedasTrusts&FoundationsAssistanttoprospectapipeline of
grantapplications,startingwiththeArcangeloNewEnsemblistsprogramme;NathanGiorgetti was
appointedasAssistantProducertoassistwiththedeliveryofthenewFriendsactivityand engagement
programme, and of the Arcangelo New Ensemblists programme.
Financial position and fundraising
Thereturntolargelynormaloperatingconditionsinrespectofliveperformanceandtouring helped
produceastrongrecoveryincommercialincomeintheyear,withassociatedincreasedoutgoings to
supportthisactivity.Despitefearsthattheculturalsectorwouldstrugglepost-pandemic,we experienced
noextra-ordinarypressureonfeenegotiations,andourconcertactivityoverallgeneratedanet surplus.
Wewerealsopleasedtodiscoverthatanticipatedpost-Brexitfrictionsdidnotmaterialise,andthere was
nomaterialaddedfinancialcosttoourtouringworkintheEU,orourengagementofEU-based musicians
to work with Arcangelo.
Theyear'selective"pause"onrecordingprojects(seeabove)reducedsignificantlyour fundraising
requirements,withtheresultthattotalfundraisingdeclinedcomparedwithlastyear.Thepause in
recordingallowedustosuccessfullyfocusthisactivityoncorecostsandhitourtarget.Prospects for
maintainingsuccessinthisregardwhilstalsolaunchingrenewedfundraisingappealsaregoodthanks to
the implementation of the recommendations of our Development review.
Theoverallstrengtheningofthecharity'sfinancialpositionfollowingtwoyearsofwholesale sector
disruptionwaswelcome,placingusinastrongpositiontolaunchanambitiousrangeofactivitiesin the
newfinancialyear,includinganunprecedentlyextensiveprogrammeofrecordingprojects,arevival of
our flagship concert presentation of Handel's 'Theodora', and exciting new departures in foreign touring.
Page 3
ARCANGELO (REGISTERED NUMBER: 07299583)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022
FUTURE PLANS
Withgatheringconfidencearoundmid-tolong-termpermanentendtolockdownrestrictions,we were
pleasedtodiscoverthatthesectorwasresumingfutureprogrammingandsaleswork.Having worked
extensivelyonnewartisticprogramminginlockdown,wefoundourselvesinagoodpositionto advance
concreteproposalstoarangeofpromotersbothdirectlyandviaourforeignterritoryagents.We were
alsopleasedtosignagreementsforrepresentationwithtwonewagents:CatherineLeBrisfor France,
andMerlinArtsManagementforGermany/Austria/Switzerland,andtoshareinitialinformationto enable
thesenewagentstostarttheirwork.Duringtheyear,wewereabletolargelycompletethecreation of
our2022-23seasonplan,andtomakeprogresstowardsourlong-heldgoalofpackingmaximum activity
intoeachprojectpatch.Wewereparticularlypleasedtosecurethreeconcertengagementsfora new
ChristmasprogrammeforDecember2022,includingtwovenuedebuts,settinganewbenchmark for
futureschedulingactivity.Additionally,wewereabletocreatethefirstoutlinesofthe2023-24 and
2024-25seasons,leavinguswellplacedtopickupsalesworkfortheseseasonswhenbookingopens in
due course.
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.TheBoardofTrusteesmeets quarterly
toreviewtheactivitiesofthecompany.In2021-22,newboardsub-committeesforFinance and
Developmentwereformed,withanadditionalnewtrusteebeingappointeddirectlyintothe Development
subcommittee;thesecommitteesnowalsomeetquarterlytoreviewandgiveparticularsupportto work
intheseareas,meaningthatwearebenefittingfromunprecedentedlevelsofdirectboardsupport and
input.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07299583 (England and Wales)
Registered Charity number
1139783
Registered office
82 High Street
Tenterden
Kent
TN30 6JG
Page 4
ARCANGELO (REGISTERED NUMBER: 07299583)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022
Trustees
J Cohen
Ms A J Buck
Ms L L Rayfield (resigned 16/3/2022)
D B Rockwell
Mrs R M S Wilkinson
R G Mayhew
Professor C A Potter
Mrs M De-Fry
Ms C L Maddox (appointed 8/6/2022)
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 17 March 2023 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 2022.
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
outmyexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionunder Section
145(5) (b) of the 2011 Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalisted body.
IcanconfirmthatIamqualifiedtoundertaketheexaminationbecauseIamaregisteredmember of
ICAEW which is one of the listed bodies.
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
21 March 2023
Page 6
ARCANGELO
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2022
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
80,717
Charitable activities
4
Performances and recordings
234,627
Investment income
3
1
Total
315,345
EXPENDITURE ON
Charitable activities
5
Performances and recordings
294,448
NET INCOME/(EXPENDITURE)
20,897
Transfers between funds
12
(7,124)
Net movement in funds
13,773
RECONCILIATION OF FUNDS
Total funds brought forward
94,284
TOTAL FUNDS CARRIED FORWARD
108,057 |
Restricted
funds
£
249
6,000
-
6,249
14,154
(7,905)
7,124
(781)
8,401
7,620 |
2022
Total
funds
£
80,966
240,627
1
321,594
308,602
12,992
-
12,992
102,685
115,677 |
2021
Total
funds
£
159,189
40,974
10
200,173
223,852
(23,679)
-
(23,679)
126,364
102,685 |
|
|
|
|
The notes form part of these financial statements
Page 7
ARCANGELO (REGISTERED NUMBER: 07299583)
BALANCE SHEET 30 JUNE 2022
Unrestricted
fund
Notes
£
CURRENT ASSETS
Debtors
10
17,305
Cash at bank
130,948
148,253
CREDITORS
Amounts falling due within one year
11
(40,196)
NET CURRENT ASSETS
108,057
TOTAL ASSETS LESS CURRENT
LIABILITIES
108,057
NET ASSETS
108,057
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Restricted
funds
£
-
7,620
7,620
-
7,620
7,620
7,620 |
2022
Total
funds
£
17,305
138,568
155,873
(40,196)
115,677
115,677
115,677
108,057
7,620
115,677 |
2021
Total
funds
£
52,956
96,670
149,626
(46,941)
102,685
102,685
102,685
94,284
8,401
102,685 |
|
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the year ended 30 June 2022.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 30 June 2022 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
17 March 2023 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 2022
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, such as for example a specfic recording.
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 2022
2. DONATIONS AND LEGACIES
DONATIONS AND LEGACIES |
|
|
|
2022 |
2021 |
|
£ |
£ |
Gifts and donations |
69,482 |
148,036 |
Gift aid |
11,484 |
11,153 |
|
80,966 |
159,189 |
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
£
234,191
Other
£
64,660 |
2022
£
1
2022
Performances
and
recordings
£
236,397
4,230
240,627
Support
costs (see
note 6)
£
74,411
Governance
costs
£
9,751 |
|
2021
£
10
2021
Total
activities
£
40,683
291
40,974
Totals
£
308,602
Totals
£
74,411 |
|
|
|
|
|
continued...
Page 10
ARCANGELO
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2022
6. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
7.
Other |
|
|
|
2022 |
2021 |
|
Performances |
|
|
and |
Total |
|
recordings |
activities |
|
£ |
£ |
Insurance |
838 |
905 |
Postage, stationery and office |
146 |
653 |
Consultancy fees |
63,676 |
69,275 |
|
64,660 |
70,833 |
Governance costs |
|
|
|
2022 |
2021 |
|
Performances |
|
|
and |
Total |
|
recordings |
activities |
|
£ |
£ |
Bank charges |
326 |
225 |
Foreign exchange differences |
122 |
100 |
Legal and professional fees |
4,885 |
2,592 |
Sundries |
3,203 |
1,570 |
Accountancy |
1,215 |
1,625 |
|
9,751 |
6,112 |
NET INCOME/(EXPENDITURE) |
|
|
Net income/(expenditure) is stated after charging/(crediting): |
|
|
|
2022 |
2021 |
|
£ |
£ |
Independent examination fee |
900 |
900 |
8. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended30June2022nor for
the year ended 30 June 2021.
Seenote13fordetailsofperformancefees(notforserviceasatrustee)paidtoJonathanCohen in
his capacity as Artistic Director.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended30June2022norfortheyear ended
30 June 2021.
continued...
Page 11
ARCANGELO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
62,089
Charitable activities
Performances and recordings
40,974
Investment income
10
Total
103,073
EXPENDITURE ON
Charitable activities
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
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
VAT
Other creditors
Accrued expenses |
|
Restricted
funds
£
97,100
-
-
97,100
96,319
781
7,620
8,401
2022
£
-
11,484
5,821
17,305
2022
£
756
8,131
19,439
11,870
40,196 |
Total
funds
£
159,189
40,974
10
200,173
223,852
(23,679)
126,364
102,685
2021
£
23,202
27,203
2,551
52,956
2021
£
24,593
1,739
16,084
4,525
46,941 |
|
|
|
|
|
|
|
|
|
|
|
|
Deferredincomerelatestomoniesreceivedinadvance,forcertaineventswhichhavenot taken
place before the year end.
continued...
Page 12
ARCANGELO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022
12. MOVEMENT IN FUNDS
Net
movement
At 1/7/21
in funds
£
£
Unrestricted funds
General fund
94,284
20,897
Restricted funds
Fundraising consultancy
7,620
-
Bach recording
235
-
Kate Lindsey recording
379
-
Boccherini recording
38
(322)
Vivaldi Recording
129
(7,583)
8,401
(7,905)
TOTAL FUNDS
102,685
12,992
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
315,345
Restricted funds
Boccherini recording
6,250
Vivaldi Recording
(1)
6,249
TOTAL FUNDS
321,594
Comparatives for movement in funds
At 1/7/20
£
Unrestricted funds
General fund
118,744
Restricted funds
Fundraising consultancy
7,620
Bach recording
-
Kate Lindsey recording
-
Boccherini recording
-
Vivaldi Recording
-
7,620
TOTAL FUNDS
126,364 |
Transfers
between
funds
£
(7,124)
-
(235)
(379)
284
7,454
7,124
-
Resources
expended
£
(294,448)
(6,572)
(7,582)
(14,154)
(308,602)
Net
movement
in funds
£
(24,460)
-
235
379
38
129
781
(23,679) |
|
At
30/6/22
£
108,057
7,620
-
-
-
-
7,620
115,677
Movement
in funds
£
20,897
(322)
(7,583)
(7,905)
12,992
At
30/6/21
£
94,284
7,620
235
379
38
129
8,401
102,685 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
continued...
Page 13
ARCANGELO
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2022
12. MOVEMENT IN FUNDS - continued
Comparative 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) |
|
|
|
|
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 1/7/20
£
118,744
7,620
-
-
-
-
7,620
126,364 |
Net
movement
in funds
£
(3,563)
-
235
379
(284)
(7,454)
(7,124)
(10,687) |
Transfers
between
funds
£
(7,124)
-
(235)
(379)
284
7,454
7,124
- |
At
30/6/22
£
108,057
7,620
-
-
-
- |
|
|
|
|
7,620 |
|
|
|
|
115,677 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,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
£
418,418
17,756
18,885
42,318
24,390
103,349
521,767 |
Resources
expended
£
(421,981)
(17,521)
(18,506)
(42,602)
(31,844)
(110,473)
(532,454) |
Movement
in funds
£
(3,563)
235
379
(284)
(7,454)
(7,124)
(10,687) |
|
|
|
|
continued...
Page 14
ARCANGELO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022
12. MOVEMENT IN FUNDS - continued
Fundingwasreceivedinpreviousyearsforafreelancefundraisingconsultant,thisfundis being
spentoveranumberofyearsinaccordancewiththeofthelevelofconsultancyworkrequired and
costs incurred.
Fundingwasreceivedduringtheyearfor2recordingprojects:NicolasAlstaedtBoccheriniand Tim
Mead Vivaldi. This funding was fully expended in the reporting year.
13. RELATED PARTY DISCLOSURES
Performancefees(notforserviceasatrustee)werepaidtoArtisticDirectorJonathan Cohen
duringtheyeartotalling£22,028(2021:£6,950)grossoftaxandexcludingVAT,andbefore his
agent'scommission.ThisincreaseyearonyearreflectsArcangelo'sreturntoliveconcert activity
post-pandemic,andrepresentsalevelofremunerationinlinewithpre-pandemicyears.These fees
wereconsideredindividuallyandapprovedbytheTrusteesofthecharityinJonathan Cohen's
absence at a minuted meeting.
ThetotalvalueofdonationsmadetothecharityintheyearfromTrusteeswas£39,567 (2021:
£41,130).
Page 15