```
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
```
||**`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 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
```