Reglstered number: 07549890
Charity number- 1142138
THE TENEBRAE CHOIR
(A company limited by guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025

THE TENEBRAE CHOIR
IA company limited by guarante•l
CONTENTS
Page
Reference and administrative details of the charity, its Trustees and advisers
Trustees. report
Indep•nd•nt auditors. report on th• finan¢ial statements
9-13
Statement of financial activities
14
Balance sheet
15-16
ststement of cash flows
17
Notes to the financial statements
18-38

THE TENEBRAE CHOIR
IA company limited by guarante•l
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE PERIOD ENDED 31 AUGUST 2025
Trustees
Elizabeth Andrews
Nicholas Bland
Andrew Halstead
Stephen Johns (appointed 17 December 2024}
James Kanagasooriam
Jonathan Lane, Chair
Nicola Oppenheimer
Kavi Pau Iresiqned 1 Auqust 20251
Sabrina Rodriguez
James Tumbull (resigned 2 April 20261
Company regislored
number
07549890
Charlty reglstered
number
1142138
Rogi$t•rod offi¢0
clo Lakin Rose Limited
Cambridge House
Camboro Business Park
Girton
Cambridge
CB3 OQH
Prlnclpal operatlng
office
clo Lyric Theatre
Lyric Square
King's Street
London
W6 OQL
Company secretary
Alexandra Davies
Chief executive
Alexandra Davies
Independenl audltors
Lakin Rose Limited
Chartered Accountanls
Statutory Auditors
Cambridge House
Camboro Business Park
Girton
Cambridge
CB3 OQH
Page 1

THE TENEBRAE CHOIR
IA company limited by guarante•l
TRUSTEES. REPORT
FOR THE PERIOD ENDED 31 AUGUST 2025
The Trustees (who are also Directors of the charity for the purposes of the Companies Act) present their annual
report together with the financial statements of The Tenebrae Choir (the charilyl for the period 1 April 2024 10
31 August 2025. This extended financial year. covering a period of 17 months, is the result of the Trustees,
decision to revise the charity's financial year. From 2025-26. the financial year will run from September to
August, rather than from April to March as before. This will bring the financial year in line with both the artistic
season and Ihe academic year. helping to simplify some of the accounting and repo￿.n9 around restricted
grants and donations.
The Trustees confirm that Ihe annual report and financial statements of the charity comply with the current
statutory requirements, the requirements of the charills goveming document and the provisions of the
Statement of Recommended Practice ISORP} 'Accounting and Reporting by Charrties. (second edition
October 20191.
Since the charity qualifies as small under section 382 of the Companies Act 2006. the stralegic report required
of medium and large companies under Ihe Companies Act 2006 (Strategic Report and Directors, Report)
Regulations 2013 has been omtted.
Oble¢tlves and actlvltles
a. Policies and objectives
The charity was fomed for the advancement of the arts and culture. specifically by the presentation of Concerts
and recordings, and by engaging members of the public from a broad range of backgrounds through its
Leaming & Connection aclivilies.
In seth'ng objectives and planning for activities. the Truslees have given due consideration to general guidance
published by the Charity Commission relating to public benefit. including the guidance 'Public benefit.. running a
charity IPB2)'.
b. Objo¢tiv•s and activities
The charity achieves its objectives principally by performing concerts. making recordings, and delivering a wide
range of Learning & Connection programmes for people of all ages. The activity of the charity is woddwide. The
Trustees are committed to the performance and recording of new music and champion the work of up-and-
coming composers. performing it all over the UK and abroad, often bringing il to audiences for the firsl time.
Since its inception Tenebrae has striven for and achieved artistic excellence through dramatic programming.
flawless performances and unforgettable experiences. Wherever possible. Tenebrae performs music by
candlelight and using the spatial opportunities afforded by the venue lo create an immersive audience
experience. Tenebrae seeks to continue to innovate through its engagement of core audien￿$ and
development of artisls and the expansion of its digital content and reach.
Page 2

THE TENEBRAE CHOIR
IA company limited by guarante•l
TRUSTEES. REPORT {CONTINUEDI
FOR THE PERIOD ENDED 31 AUGUST 2025
A¢hievoments and porfornian¢o
a. Highlights of tho year
2024-25 was a busy year. and the breadth of Tenebrae's programming and educational work reflected our
ambitions lo be working with and for a wide range of people from all backgrounds. Particular highlights included..
In June 2024. an expanded choir of 40 singers performed in Ely Cathedral as part of Aldeburgh Festival.
This concert was originally planned for 2020 to celebrate the 450th anniversary of Tallis, 40-part motel
Spem in alium. but was postponed due to the pandemic. The highlight of the programme was a stunning
performance of Eric Whilacre's When David Heard.
In July 2024. BBC Radio 3 broadcast our performance from Ampleforth Abbey as part of Ryedale Festival
in Yorkshire. The concert programme. A Prayer for Deliverance. was one that we had long hoped lo
record, and we are grateftjl to the BBC and Signum Records for working together lo license Ihe broadcasl
audio for commercial release. We would also like lo thank The Herbert Howells Trust for generously
supporting this recording. The album. which featured the wodd premiere recording of Joel Thompson's
eponymous work, was released in June 2025 to critical acclaim. and we are delighted that il has recently
won both Recording of the Year and the Choral Award at the BBC Music Magazine Awards. Shortly after
the performance at Ryedale Festival. we toured this programme lo several wonderful venues in
Rocamadour. Bremen, Wiesbaden and Lucerne.
We have 8 wami and long-standing relationship with Lammermuir Festival in East Lolhian, and in autumn
2024 we were invited to give particulady special performances. Joby Talbot's Path of Miracles holds
an important place in Tenebrae's history, being the choir's first major commission back in 2005. These
two performances look place in the Concorde Hangar al the Museum of Flight, and received a wonderful
review in The Times. This sensationally beautiful meditation on pilgrimage seemed lo shimmer in the air
around Concorde as the Choir moved through the vast space, creating pinpricks of sound that coalesced
and separated in a way that brought the piece's spiritual message to sublime, pulsating life. It's for
implausible things like this, and for the moments of tr8nscendence which they bring. that we fund the arts
as a public good."
Al the start of the academic year we were delighted to welcome Gifford Primary School to our Tenebrae
Schools programme, through which hundreds of children at stale primary schools benefit from regular
singing sessions in school. We would also like lo lake this opportunity lo congratulate Tudor Primary
School on completing their 3-year partnership with us in summer 2025. We thoroughly enjoyed working
with all the pupils and staff at Tudor Primary. and have been very proud lo watch them grow in
confidence throughout the programme.
In December 2024 we collaborated again with renowned period-inslrument orchestra Academy of Ancient
Music on a four-concert tour of Handel's Messiah. with fantastic audience reception Ihroughoul. Several
months later. we were honoured lo find out that our performance in Wiesbaden had won the prestigious
Opus Klassik Award for 'Orchestra/Ensemble Live Perfomiance of the Year,.
so in December, six of our current and former Associate Artists sang a Christmas concert alongside
performers from Stree￿iSe Opera at their annual fundraiser. Slreelwise Opera are a wonderful charity
who help lo empower people who have experienced homelessness through music. and it was a joy lo be
involved with this performance. We are pleased to be talking with Streetwise Opera about ways in which
we can continue lo collaborate in the future.
Page 3

THE TENEBRAE CHOIR
IA company limited by guarante•l
TRUSTEES. REPORT {CONTINUEDI
FOR THE PERIOD ENDED 31 AUGUST 2025
A¢hievoments and porfornian¢o l¢ontinuod}
In March 2025 we were invited to perfomi in a series of 'Surround Sound Playlisl, concerts presented by
the chamber orchestra Britten Sinfonia. Taking place in Chelmsford. Ely and Peterborough Cathedrals.
these concerts were designed lo offer a way in for newcomers to classical music while also appealing to
seasoned concert-goers. Tenebrae and the orchestra were joined by Amy Dickson Isaxophonel. Joseph
Tawadros loud}, and numerous local amateur choirs and brass bands in a varied programme which the
artists performed from different locations in the venue to create an immersive experience. Audience
members were invited to pay what they could afford. and encouraged lo sil or lie on the floor to enjoy the
performance. Audience feedback suggested that 36./0 of groups who booked included at least one
person who'd never attended a classical Concert before, and that 25'/D of bookers in Peterborough were
from the 1 OYO most deprived wards in the UK.
In March and April 2025 we collats)rated with Third Culture Collecb've to work with Indian classical
musicians. On the face of it. these are two very different musical traditions. Indian classical music is
primarily leamed by ear and features long sections of virtuosic improvisation, while the Westem choral
Iradrtion is dependent on quick and accurate score-reading. Across a series of workshops, we explored
the traditions and found the places where they intersect. ultimately creating a programme which we
hope blends the two styles together seamlessly to create something entirely new. As well as giving an
informal performance as part of Darbar Festival, we were delighted to share this music with hundreds of
children from our partner primary schools in Ealing, and we are currenuy exploring the possibility of
touring this programme more widely in 2027-28. We are grateful to Arts Council England and The
Marchus Trust for their generous support of this period of R&D. and we look forward to developing this
collaboration further.
During the spring temi we introduced a new creative songwriting element to Tenebrae Schools, and had
great fun working with children and teachers to create a new song for each class in our focus year
groups. Feedback from teachers suggested that this new aclivty empowered some of the children who
had struggled with singing. and we are excited to develop this strand for future years.
In August 2025 we gave four perfomances of Bach's B Minor Mass with Kammerorchesler Basel in
Switzerland and Germany. This was an artistic highlight of the year, and we hope that il will be the firsl of
many collaborations with the orchestra.
Throughoul the financial year. we were also privileged lo work wilh London Symphony Orchestra on
performances of Ravel's Daphnis et Chloé, Holsl's The Planets, and Janacek's The Excursions of Mr.
Broucek.
We are incredibly grateful to all the concert promoters who work so hard and lake financial risks lo bring us lo
their communities. whether that be on a world-renowned stage or in a Ioc81 parish church. We would like lo
extend particular thanks to Wigmore Hall for their incredible support of Tenebrae since our debut there in 2018.
often enabling us to premiere new and challenging programmes.
Likewise, we are indebted to numerous granl-giving organisalions and individu81 donors, without whom we
simply couldn't deliver our artistic or educational programmes. Although there isn't room lo acknowledge each
and every donor in this report. we would like to thank them collectively for their belief in what we do. and their
continued friendship and support. In particular, we would like lo thank the John Ellerman Foundation for
supporting core operating Costs. The Fernside Trust for supporting our Associate Artists, John Lyon's Charity
and Paul Hamlyn Foundation for enabling us to deliver Tenebrae Schools, and The Brindle Foundation for kindly
supporting the development and launch of Tenebrae Academy (see further detsil below).
Page 4

THE TENEBRAE CHOIR
IA company limited by guarante•l
TRUSTEES. REPORT {CONTINUEDI
FOR THE PERIOD ENDED 31 AUGUST 2025
Financial review
a. Going COn￿M
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate
resources lo continue in operational existence for the foreseeable future. For this reason they continue to adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the
going concem basis can be found in the Accounting Policies.
b. SurpluslD8fi¢it
While 2024-25 was a busy and successful year, it is undeniable that we are operating in a very challenging
financial climate. Since 2023 we have grown our small management team lo keep up with an expanded
programme of work and increased administrative demands. While this was necessary lo maintain the quality of
our work and avoid staff burn-out. it has also significantly increased the charity's overheads. The cosl-of-living
crisis has impacted both the cost of services and the box office income that concert promoters can expect to
make from ticket sales. and the financial pressure on charities has generated increasing compelition for a
limited pool of grants and donations.
In 2024-25 we are reporting a loss of £60.600. This was planned for and expected as we made the decision to
invest in a larger team. However. the expe¢lation was that by 2025-26 we would be able lo grow our fundraised
income to bridge the gap. While this is still our aim. it has undoubtedly become much harder lo achieve. As a
result, our most recent strategic review {September 20251 focused primarily on the need lo grow our
membership and individual gifts. maximise revenue from our digital platforms. and avoid taking on loss-making
projects which don't directly conlribule lo the charity's strategic objectives for the next three years.
c. Reserves poll¢y
The charity's policy is to maintsin sufficient reserves to cover six months of its core organisats'onal costs.
reflecting the long-temi nature of its forward contracts and commitments lo trx)Ih musicians and promoters.
For the year under review the charity made a deficit of £60.604. Total resetves of £668,161 consisting of
Reslricled funds of £118,011. Designated funds of £330,500 and Unrestricted funds of £219,650 wll be carried
fornard.
d. Rlsk management
The Trustees have assessed the major risks to which the charity may be exposed through a Risk Register and
are satisfied that systems and procedures are in place to miligale its exposure to Ihose major nsks over which
the Trustees have a measure of control.
Stru¢ture. govomance and management
a. Constitution
The charity is registered as a charitable company limited by guarantee, incorporated on 3 March 2011.
govemed by ils memorandum and articles. The charity received ils charitable status on 27 May 2011. The
charity is conslituleé under its memorandum and articles and is a registered charity number 1142138.
The Trustees of the charity are the Directors of the company.
Page 5

THE TENEBRAE CHOIR
IA company limited by guarante•l
TRUSTEES. REPORT {CONTINUEDI
FOR THE PERIOD ENDED 31 AUGUST 2025
Stru¢ture. govomance and management l¢ontinuod}
b. Methods of appointmont or Olection of Trust•e$
The Trustees have the power to co-opt addftional Trustees. While there are no specific policies for the training
of Trustees. who would be skilled in their particular field before being appointed, the Trustees have regard to
any specialist skills needed when co-opting potential Trustees for example, fundraising, musical knowledge.
digital marketing elc.
c. Organlsatlonal stw¢ture and declslon-maklng pollcles
The Trustees meet periodically to discuss the mallers affecting the charity and to review the financial posrtion of
the charity. In addition. the Trustees liaise wfth the Chief Executive about any specific points that they may be
interested in.
Individual Trustees are not allowed to vote on any remuneration or fees Ihat they may receive from the charity-
During the financial year 2024-25 we were pleased to welcome Stephen Johns lo Tenebrae's Board of
Trustees. Formedy Artistic Director of the Royal College of Music. Stephen has worked as a record prcKJucer for
over 30 years, and brings specialist knowledge of the classical recording industry to all Tenebrae's recording
projects. We also said goodbye to Kavi Pau, who resigned as a Trustee in August 2025. Kavi was instrumental
in helping us lo lake small bul meaningful steps towards a more diverse and inclusive offer. not least through
spearheading 'One Voice,. an exciting collaboration which is covered in more detail above. We would like to
take this opportunity to thank Kavi for his valuable contribution. and to wish him well for his next steps.
We would also like lo acknowledge Lydia Brookes. who did a fantastic job as maternity cover for our Chief
Executive. Alexandra Davies. Having worked with Lydia previously, we fell confident that she would be an
effective leader at a time when the charity's activities are increasingly complex, and we are extremely gralefvl to
her for all her time and expertise.
Post a¢countlng perlod events and plans for future perlods
Since the close of the financial year we have undertaken several excf(ing projects, and also begun to plan
ahead for the choir's 25th anniversary season in 2026-27.
In September 2025 we launched the pilot year of Tenebrae Academy.. a new programme for talented teenagers
who face barriers to progressing their singing beyond secondary education. 11 is widely recognised that classical
music. and choral singing in particular. still struggles to attract a diverse workforce. This is in large part due to a
lack of high-qualily musical education in schools. and we hope that Tenebrae Academy. in combination with our
work in primary schools, will go some way to helping to address this issue. We would like lo thank The Brindle
Foundation for helping to make this pilot possible and, more recently, committing to a second year of the
programme in 2026-27.
Due to the generous support of a long-time donor, in October 2025 we were able to tour with 40 singers lo
Windsor Festival. Elbphilharmonie Hamburg and the Church of Saint-Roch in Paris, giving three performances
of our programme Mother and Child. December saw our second collaboration with Kammerorchester Basel.
with 7 wonderful performances of Handel's Messiah in France. Switzerland and Germany. Ouring the autumn
we were also able to record an album of works by the British-swiss composer Jessica Ulusoy-Horsley and
another album of English Renaissance polyphony. for release in summer 2026 and autumn 2027 respectively.
Page 6

THE TENEBRAE CHOIR
IA company limited by guarante•l
TRUSTEES. REPORT {CONTINUEDI
FOR THE PERIOD ENDED 31 AUGUST 2025
Post accounting period events and plans for future ￿riOdS l¢ontinuod}
2026-27 will mark 25 years since Tenebrae was founded in Switzerland, and throughout the season we will
celebrate the choir's journey lo dale while also looking lo the future. We are delighted to have commissioned
new works from Jason Max Ferdinand, Joanna Marsh, Owain Park and Joby Talbol, all four of which will feature
on new recordings lo be released in autumn 2026 and spring 2027. January 2026 saw the final of our
Undiscovered Voices composition competition, through which we aimed to discover new, innovative voices in
choral music. The winning piece by Sarah Henderson will also feature on a new recording. and will be
performed throughout the season as part of our newest programme, The Journey. In honour of the choir's
Swiss roots. in February we recorded the Mass for Double Choir by the Swiss composer Frank Martin in Kloster
Fischingen Irelease dale TBC). By Coincidence. next year also marks the 1 Oth anniversary of our Associate
Artists programme. and we are looking forward to celebrating this milestone wth a special concert at Wigmore
Hall in January 2027.
Finally, we would like lo note some recent updates lo our designated funds, which we have revised in line wth
our most recent strategic review. The following funds were agreed by the Board of Trustees al our meeting on
9th February 2026..
Artlstlc Development Fund
£50,000- To underwrite projects of artistic or slralegic significance.
Dls¢retlonary Concert Subsldy
£5,000 - To off-set relatively small losses andlor cover management fees on stralegic concert engagements
where the agreed concert fee doesn't cover all our costs.
Learnlng & Conne¢tlon
£55.000 - To underwrite the cost of our full 3-year commitments to our current partner schools and to one year
of termly sessions for London Youth Choir.
Self-Promoted Concerts
£78.882 - To Unde￿rIte the development of a self-promoted lovring circuit in key locations where we feel there
is a strong audience for Tenebrae.
Infrastructure Growth Strategy
£50,000 - To make provision for future expansion of the team if necessary.
25th Annlversary
£50.000 - To support several key artistic projects in celebration of Tenebrae's 25th anniversary.
The Digital Marketing fund included in our previous accounts was largely spent during 2024-25. and we have
released the remainder into free reserves. Likewise. we have released the £20,000 fund for Green Touring and
the £15,000 fund for EDI, as we feel that these aims are better served by embedding sustainable practices into
the organisation, rather than by funding short-lerm initiatives.
Members, Ilablllty
The Members of the charity guarantee to Contribute an amount n(X exceeding £110 the assels of the charity in
the evenl of winding up.
Page 7

THE TENEBRAE CHOIR
IA company limited by guarante•l
TRUSTEES. REPORT {CONTINUEDI
FOR THE PERIOD ENDED 31 AUGUST 2025
Stat•mont of Tru$tee$' responsibilities
The Tnjstees (who are also the directors of the charity for the purposes of company lawl are responsible for
preparing the Trustees, report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel.
Company law requires the Tnjstees to prepare financial statements for each financial period. Under company
law. the Tnjstees must not approve the financial statements unless they are satisfied that they give a true and
fair view of the slate of affairs of the charity and of ils incoming resources and application of resources.
including its income and expenditure. for that period. In preparing these financial statements. the Tnjstees are
required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 1021..
make judgments and accounting estimates that are reasonable and pnjdent.,
stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any
material departures disclosed and explained in the financial slatemenls.,
prepare the financial statements on the going con￿rn basis unless rt is inappropriate lo presume that the
charity will continue in business.
The Tnjstees are responsible for keeping adequate accounting records that are sufficient to show and explain
the charitls transactions and disclose with reasonable accuracy at any lime the financial position of the charity
and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
Disclosure of inforniation to auditors
Each of the persons who are Tnjstees at the lime when this Trustees. report is approved has confimied that..
so far as that Trustee is aware. there is no relevant audit information of which the charity's auditors are
unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order lo be aware of
any relevant audit infomiation and to establish that the charitys auditors are aware of that infomiation.
Auditors
The audrtors. Lakin Rose Limited. have indicated their willingness to continue in office. The designated Tnjstees
will protx)se a motion reappointing the audrtors at a meeting of the Tnjstees.
Approved by order of the members of the board of Trustees on
by..
11 May 2026
and signed on their behalf
JLL_
Jon81h8n Lane INlay 19, 2026. 5."37pml
Jonathan Lane
Chair of Trustees
Page 8

THE TENEBRAE CHOIR
IA company limited by guarante•l
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE TENEBRAE CHOIR
Opinion
We have audited the financial stalements of The Tenebrae Choir Ilhe 'charity} for the period ended 31 August
2025 which comprise the statement of financial activities, the balance sheet, the slalement of cash flows and
the related notes, including a summary of significant accounting policies. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial stalemenls..
give a true and fair view of the stale of the charitable companvs affairs as at 31 August 2025 and of its
incoming resources and application of resources, including its income and expenditure for the period then
ended-
have been properly prepared in accordance with United Kingdom Generally Accepled Accounting
Practice- and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinlon
We conducted our audit in accordance with Intemational Standards on Auditing IUK} IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the charitable company in accordance
with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard. and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence Ke have obtained is
sufficient and appropriate to provide a basis for our opinion.
Con¢lusions r•latlng to going concem
In auditing the financial statements. we have concluded that the Tnjslees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, have not identified any malerial uncertainties relating to events or
conditions that. individually or collectively, may cast significant doubl on the charitable companys ability to
continue as a going concern for a period of at least twelve months from when the financial statements are
aulhorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of this rewrt.
Page 9

THE TENEBRAE CHOIR
IA company limited by guarante•l
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE TENEBRAE CHOIR ICONTINUEDI
Other information
The other information comprises the infom)alion included in the annual report other than the financial
statements and our auditors. report Ihereon. The Trustees are responsible for the other information contained
within the annual report. Our opinion on the financial statements does not cover the other information and,
except to the extent othemise explicitly ststed in our report. do not express any form of assurance
conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge obtained in the course
of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies or
apparent material misslalements. are required to determine whether this gives rise to 8 material
misstatement in the financial statements themselves. If, based on the work we have performed, we conclude
that there is a material misstatement of this other infom)alion, we are required lo report that fact.
We have nothing lo report in this regard.
Opinion on other matters pres¢ribod by the Companios Act 2006
In our opinion, based on Ihe work undertaken in the course of the audit..
the information given in the Trustees, Report for the financial period for which Ihe financial stslements are
prepared is consislenl wrth the financial statements.
the Trustees, Report has been prepared in accordance wth 8ppIic8ble legal requirements.
Matters on whl¢h we are requlred to report by exceptlon
In the light of our knowledge and understanding of the charitable company and ils environment obtained in the
course of the audit, we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respecl of the following mallers in relation lo which Companies Act 2006 requires
us to report lo you if. in our opinion..
adequate accounting records have not been kepl. or returns adequale for our audit have not been
received from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns: or
certain disclosures of Twstees, remuneration specified by law are not made., or
we have nol received all the infom)ation and explanations we require for our audiL or
the Trustees were nol enlitled to prepare the financial statements in accordance with the small
companies regime and lake advantage of the small companies, exemptions in preparing the Trustees,
Report and from the requirement lo prepare a Strategic Report.
Page 10

THE TENEBRAE CHOIR
IA company limited by guarante•l
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE TENEBRAE CHOIR ICONTINUEDI
Rosponsibilitios of trustees
As explained more fully in the Iruslees, responsibilities statement, the Trustees Iwho are also the d1￿Clor$ of
the charitable company for the purposes of company lawl are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free Irom material
misstatement, whether due to fraud or error.
In preparing the financial slatemenls, the Tnjstees are responsible for assessing the charitable companys
ability to continue as a going concern. disclosing. as 8ppIic8ble. mallers related to going concem and using the
going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to
cease operations, or have no realistic alternative but lo do so.
Auditors. rospon$ibilitie$ for th• audit of the financial $tstomont$
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditors. report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misstatement when it exists. Misslatemenls can arise
from fraud or error and are considered material if, individually or in Ihe aggregate, they could reasonably be
expected to influence the economic decisions of users tsken on the basis of these financial statements.
Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design
prO￿dureS in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities. including fraud. The extent to which our procedures are capable of delecling irregular(ties,
including fraud is detailed below..
Extent to whl¢h the audlt was ¢onsldered capable of detectlng Irregularltles, Includlng fraud
We identify and assess the risks of material misstatement of the financial statements, whether due lo fraué or
error. and then design and perform audit procedures responsive to those risks, including obtaining audit
evidence that is sufficient and appropriate lo provide a basis for our opinion.
Identifying and assessing polential risks related lo irregularities
In identifying and assessing risks of material misstatement in respect of irregularities. including fraud and non-
compliance with laws and regulations, we considered the following:
the nature of the sector, control environment and performance,
results of our enquiries of management about their own identification and assessment of the risks of
irregularities.,
any matters we identified having obtsined and reviewed the company's documentation of their policies
and procedures relating to..
identifying. evaluating and complwng with laws and regulations and whether they were aware of
any instances of noncompliance.,
detecting and responding to the risks of fraud and whelher they have knowledge of any actual.
suspected or alleged fraud..
the intemal controls established to miligale nsks of fraud or non-compliance with laws and
regulations.,
the discussions among the audit engagement team and involving relevant internal specialists regarding
how and where fraud might occur in the financial statements and any potential indicators of fraud.
Page11

THE TENEBRAE CHOIR
IA company limited by guarante•l
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE TENEBRAE CHOIR ICONTINUEDI
As a result of these procedures, we considered the opportunities and incentives that may exist within the
organisalion for fraud and identified the greatest potential for fraud in relation to revenue recognition. In
common with all audits under ISAS IUKI, we are also required to perform specific procedures to respond to the
risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the company operates in.
focusing on provisions of those laws and regulations that had a direct effect on the delerminalion of material
amounts and disclosures in the financial statements. The key laws and regulations we considered in this context
included the UK Charities Act, the UK Companies Act and UK tsx legislation.
In addrtion. we considered provisions of other laws and regulations that do not have a direct effect on the
financial statements but compliance with which may be fundamental to the company s ability to operate or lo
avoid a material penalty. We identified no such laws and regulations applicable lo the company.
Audit response lo risks identified
As a result of performing the above. we identrfied revenue recognition as a key audit risk related lo the potential
risk of fraud. Our procedures to respond lo risks identified included the following=
reviewing the financial stalemenl disclosures and lesling to supporting documentation to assess
compliance with provisions of relevant laws and regulations described as having a direct effect on the
financial st8lements',
enquiring of managemenl concerning actual and potential litigation and claims..
performing analylical procedures lo identify any unusijal or unexpected relationships that may indicate
risks of material misst8tement due to fraud;
reading minutes of meetings of those charged with governance.,
obtained an understanding of provisions and held discussions with management lo understand the basis
of recognition or non-recognilion of provisions., and
in addressing the risk of fraud through management override of controls, testing the appropriateness of
journal entries and other adjuslmenls- assessing whether the judgements made in making accounting
eslimales are indicative of a potential bias.. and evaluating the business rationale of any signbficant
transactions that are unusual of outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks lo all engagement
team members including internal specialists. and remained alert lo any indications of fraud or noncompliance
with laws and regulations throughout the audit.
A further description of our responsibilities for the audrt of the financial statements is located on the Financial
Reporting Council's website al.. ￿.frc.Or
.uklauditorsres
onsibilrties. This description forms part of our
auditors, reporL
Page 12

THE TENEBRAE CHOIR
IA company limited by guarante•l
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE TENEBRAE CHOIR ICONTINUEDI
Use of our roport
This report is made solely lo the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charity's members
those matters we are required to stale lo them in an auditors. report and for no other purpose. To the fullest
extent permitted by law. do not accept or assume ressx)nsibilily to anyone other than the charity and ils
members, as a body. for our audit work, for this rewrt, or for the opinions we have formed.
4rii**er DoughÈrty Imay 19. 2028.
Christopher Dougherty (senior statutory auditor)
for and on behalf of
Lakin Rose Limited
Chartered Accountants
Statutory Auditors
Cambridge House
Camboro Business Park
Girton
Cambridge
CB3 OQH
Date..
19 May 2026
Page 13

THE TENEBRAE CHOIR
IA company limited by guarante•l
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE PERIOD ENDED 31 AUGUST 2025
Unrestricted
funds
17 months
ended
31 August
2025
Restricted
funds
17 months
ended
31 August
2025
Total
funds
17 months
ended
31 August
2025
Total
funds
12 months
ended
31 March
2024
Note
Income from..
Donations and legacies
Charitable activities
Investments
Other income
117,546
1,221,894
15,216
36,054
234,669
352,215
1,221,894
15,216
36,054
359,230
700, 786
24,914
Total income
1,390,710
234,669
1,625,379
1,084,930
Expenditure on..
Charitable activities
1,455,777
230,206
1,685,983
992,146
Total expendlture
1,455,777
230,206
1,685,983
902,146
Net movement in funds
165,0671
4,463
160,604)
182, 784
Reconciliation of funds-
Totsl funds brought forward
Net movement in funds
615,217
165.0671
113,548
4,463
728,765
160.6041
545,981
182, 784
Total funds carried forward
550,150
118,011
668,161
728, 765
The Statement of Financial Activities includes all gains and losses recognised in the period.
The notes on pages 18 10 38 form part of these financial slatements.
Page 14

THE TENEBRAE CHOIR
IA ¢ompany limited by guarantee)
REGISTERED NUMBER: 07549890
BALANCE SHEET
AS AT 31 AUGUST 2025
31 August
2025
31 March
2024
Note
Fixed assets
Tangible assets
12
5,614
7,391
5,614
7,391
Current assets
Stocks
Deblors
Cash at bank and in hand
13
14
4,460
209,288
665,542
2,680
98,466
699,481
879,290
800, 627
Current liabilities
Creditors.. amounts falling due within one
year
15
1216.7431
(79.253)
Net current assets
662,547
721,374
Total net assets
668,161
728, 765
Charity funds
Reslncted funds
Unreslricted funds
16
118,011
113,548
Designated funds
General funds
16
16
330,500
219,650
371,(100
244,217
Total unrestricted funds
16
550,150
615,217
Total funds
668,161
728, 765
The Trustees acknowledge their responsibilities for complying wth the requirements of the Act with respecl to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entrties subject to
the small companies regime.
Page 15

THE TENEBRAE CHOIR
IA ¢ompany limited by guarantee)
REGISTERED NUMBER: 07549890
BALANCE SHEET {CONTINUEDI
AS AT 31 AUGUST 2025
The financial statements were approved and aulhorised for issue by the Tnjstees on 11 May 2026
signed on their behalf by..
and
JLL_
Jonathan Lane IM8y 19, 2026. 5."37pml
Jonathan Lane
Chair of Tnjstees
The notes on pages 18 10 38 form part of these financial slatements.
Page 16

THE TENEBRAE CHOIR
IA company limited by guarante•l
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 AUGUST 2025
17 months
ended
31 Augu$t
2025
12 months
ended
31 March
2024
Cash Ilows from operating activities
Net cash used in operating activities
146.0131
205,237
Cash Ilows from investing activities
Inleresl receivable
Purchase of tangible fixed assets
15,216
13,142)
(8.463)
Not cash provid•d byllusod in) investing activities
12,074
(8,463)
Change in ¢a$h and ¢a$h wuival•nl$ in the period
Cash and cash equivalents at the beginning of the period
133,9391
699,481
196,774
502, 707
Cash and ¢a$h oquivalents at the end of tho period
665,542
699,481
The notes on pages 18 10 38 form part of these financial statements
Page 17

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
General information
The charrty is a company limited by guarantee and is incorporated in England and Wales. The address of
the registered office is clo Lakin Rose Limited, Cambridge House, Camboro Business Park. Girton,
Cambridge, CB3 OQH.
A¢countlng pollcles
2.1 Basis of preparation of financial $tat8mont$
The financial statements have been prepared in accordance with the Charities SORP {FRS 1021
Accounting and Reporting by Gharities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 102} leffectsve 1 January 20191 and the Companies Act 2006.
The Tenebrae Choir meets the definition of a public benefrt entily under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accounting policy.
2.2 Charity $tstu$
The charity is a company limf(ed by guarantee. The members of the charity are the trustees listed on
page 1. In the event of the Charity being wound up, the liability is respecl of Ihis guarantee is limited
to £1 per member of the charity.
2.3 Going ¢oncem
The financial slalements have been prepared on a going concern basis, which assumes that the
charity will continue as a going concern for the foreseeable future. The Trustees have performed
going concem assessment and have specifically considered the resources available lo the charity
and the obligations expected lo arise over the medium term, taking into account expected operating
acb'vilies in line with its charitable objectives and the investment of reserves in new hires and
strategic artistic projects. On the basis of the assessment performed, the Trustees have reasonable
expectation that the charity has adequate resources to continue to operate for the foreseeable future
and that il is appropriate lo prepare the financial statements on a going concem basis.
2.4 Income
l income is recognised once the charity has entitlement lo the income, il is probable that the
income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of
receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of
entitlement to 8 legacy exists when the charity has sufficient evidence that a gift has been left lo
them Ilhrough knowledge of the existence of a valid will and the dealh of the benefactor} and the
executor is satisfied that the propety in question will not be required to satisfy claims in the estate.
Receipt of a legacy musl be recognised when it is probable that it will be received and the fair value
of the amount receivable, which will generally be the expected cash amount to be dislributed lo the
charity, can be reliably measured.
Other income is recognised in the period in which it is receivable and to Ihe extent the goods have
been provided or on completion of the service.
Page 18

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
A¢counting poli¢i•s l¢ontinuedl
2.5 Expenditure
Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic
benefit lo a third party, il is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is classified by
aclivily. The costs of each activity are made up of the total of direct costs and shared costs.
including support costs involved in undertakin9 each activity. Direct costs attributable to 8 single
activity are allocated directly to that activity. Shared costs which contribute lo more than one activity
and support costs which are not attributable to 8 single activity are apportioned between those
activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of lime spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charrtable aclivrties is incurred on directly undertaking the activities which further the
charitls objectives. as well as any 8SSOCl8ted support costs.
l expenditure is inclusive of irrecoverable VAT.
2.6 Interest receivable
Interest on funds held on deposit is included when ￿CeIvable and the amount can be measured
reliably by the charity, this is normally upon notification of the interest paid or payable by the
instrtution wrth whom the funds are deposited.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets are inftially recognised at cost. After recognition. under the cost model.
tangible fixed assets are measured at cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible fixed asset into its intended working
condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of langible fixed assets less their residual value
over their estimated useful lives, using the straighl-line method.
Dep￿ciatIon is provided on the following basis..
Office equipment
33 % straight line
2.8 stocks
Stocks are valued at the lower of cost and nel realisable value after making due allowance for
obsolete and slow-moving stocks. Cost indudes all direct costs and an appropriate proportion of
fixed and variable overheads.
Page 19

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
A¢counting poli¢i•s l¢ontinuedl
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balan￿ sheet dale as a result of a past
event, it is probable that a Iransfer of economic benefit will be required in settlement, and the
amount of the settlement can be eslimaled reliably.
Liabilities are recognised at the amount that the charity 8nlicip8tes it wll pay lo settle the debt or the
amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured al the best estimate of Ihe amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts. discounted at the pre-tax discount rale that reflects the risks specbfic lo the liability. The
unwinding of the discount is recognised in the statement of financial activities as a finance cost.
2.10 Pensions
The charity operates a defined contribution pension scheme and Ihe pension charge represents Ihe
amounts payable by the charity lo the fund in respect of the period.
2.11 Fund accountlng
General funds are unreslricled funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the charity and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been sel aside by the Tnjstees for
particular purposes. The aim and use of each designaled fund is set out in the notes lo the financial
stalemenls.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fvnd. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Inveslmenl income. gains and losses are allocaled to the appropriate fund.
Page 20

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
Income from donalions and legacies
Unrestricted Restricted
Total
funds
funds
funds
17 months 17 months 17 months
ended
ended
ended
31 August 31 August 31 Augu$t
2025
2025
2025
Total
funds
12 months
ended
31 March
2024
Donations
Legacies
17,546
100,000
234,669
252,215
100,000
229,230
130,0(
117,546
234,669
352,215
359,230
Total 2024
204, 774
154,456
359,230
Income from charitable activities
Unrestricted
Total
funds
funds
17 months 17 months
ended
ended
31 August 31 August
2025
2025
Total
funds
12 months
ended
31 March
2024
Concert income and music sales
1,221,894
1,221,894
700, 786
Total 2024
700, 786
700, 786
Page 21

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
Investment income
Unrestricted
Total
funds
funds
17 months 17 months
ended
ended
31 August 31 Augu$t
2025
2025
Total
funds
12 months
ended
31 March
2024
Interest receivable
15,216
15,216
Oth•r in¢oming resources
Unrestricted
Total
funds
funds
17 months 17 months
ended
ended
31 August 31 August
2025
2025
Total
funds
12 months
ended
31 March
2024
Royalties
YouTube income
19,304
16.750
19,304
16,750
15,488
9,426
36.054
36,054
24,914
Total 2024
24,914
24,914
Page 22

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
Analysis of expondituro on ¢haritsbl• activitie$
Summary by fund typo
Unrestricted Restricted
funds
funds
Total
17 months 17 months 17 months
ended
ended
ended
31 August 31 August 31 August
2025
2025
2025
Total
12 months
ended
31 March
2024
Advancement of classical music
1,455,777
230,206
1,685,983
902,146
Total 2024
754,470
147,676
902,146
Summary by expendlture type
Staff costs Depreciation Other costs
Total
17 months
17 months 17 months 17 months
ended
ended
ended
ended
31 August
31 August 31 August 31 August
2025
2025
2025
2025
Total
12 months
ended
31 March
2024
Advancemenl of classical
music
304.158
4,919
1,376,906
1,685,983
902,146
Total 2024
155,869
1,611
744,666
902,146
Page 23

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
Analy$is of 8xponditur• by activities
Activities
ndertaken
Support
Total
directly
costs
funds
17 months 17 months 17 months
ended
ended
ended
31 August 31 August 31 August
2025
2025
2025
Total
funds
12 months
ended
31 March
2024
Advancement of classical music
1,610,569
75,414
1,685,983
992, 746
Total 2024
851,395
50,751
902,146
Auditors. remuneration
17 months
ended
31 August
2025
12 months
ended
31 March
2024
Fees payable lo the charrtvs auditor for the audit of the charity's annual
accounts
8,250
7,875
Fees payable to the charitys audrtor in respect of..
All non-audit ServI￿S not included above
6,373
5,474
10. Staff costs
17 months
ended
31 August
2025
12 months
ended
31 March
2024
Wages and salaries
Social securrty costs
Contribulion to defined contn'bulion pension schemes
279,706
17,664
6,788
144,614
8,453
2,802
304,158
155,869
Page 24

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
10. Staff costs l¢ontinuod}
The average number of persons employed by the charity during the period was as follows..
17 months
ended
31 Augu$t
2025
No.
12 months
ended
31 March
2024
No.
Employees
No employee received remuneration amounting lo more than £60,000 in either period.
11. Trustees. remuneration and expenses
During the period ended 31 August 2025. no Tnjstees received any remuneration or other benefits (2024
- £NIL).
During the period ended 31 August 2025, expenses lolalling £556 relating lo fvndraising and concert
related expenses were reimbursed or paid directly 10 2 Trustees (2024 - £NIL)-
Page 25

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
12. Tangible fixed assets
Office
equlpment
Cost or valuation
Al 1 April 2024
Additions
15,794
3,142
Al 31 August 2025
18,936
Depreciation
Al 1 April 2024
Charge for the period
8,403
4,919
Al 31 August 2025
13,322
Net book value
Al 31 August 2025
5,614
At 31 March 2024
7,391
1& Stocks
31 August
2025
31 March
2024
Finished goods and goods for resale
4,460
2,680
Page 26

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
14 Debtors
31 August
2025
31 March
2024
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
5,775
2,880
200,633
54,109
2,880
41,477
209,288
98,466
1& cr￿ltors. Amounts falling duo within ono y•ar
31 August
2025
31 March
2024
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
106,865
7,617
15,071
87,190
49,896
10,371
747
18,239
216,743
79,253
Accru81s and deferred income includes income of £62,220 (2024 - £nil) which has been deferred and will
be released in line with project activities in 2025126.
Page 27

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
1& Statement of funds
ststomont of funds - curr•nt period
Balance at
31 August
2025
Balance at 1
April 2024
Transfers
inlout
Income Expenditure
Unrestricted funds
Designated funds
Leaming & Connection
Self-Promoted Concerts
Infrastructure Growth Strategy
Artistic Development
Digital l Marketing
25th Anniversary Projecls
Green Touring
EDI Strategy
Discretionary Concert Subsidy
90,000
80,000
50,000
50,000
41,000
25,000
20,000
15,000
90,000
78,882
50,000
33,689
12,929
25,000
20,000
15,000
5,000
11.118)
116,3111
128.0711
11.697)
6,697
371,000
147.1971
6,697
330,500
General funds
General Funds
244,217
1,390,710 11,408,580)
16,697)
219,650
Total Unrestricted funds
615,217
1,390,710 11.455,777)
550,150
Page 28

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
1& Stat•m•nt of funds (Continued)
Balance at
31 Augu$t
2025
Balance at 1
April 2024
Transfers
inlout
Income Expenditure
Restricted funds
Choral Development
Programme
25th Anniversary
Associate Artists Scheme
Spem in alium tour
Schools Fund l Tenebrae
Schools
Bach & Macmillan
Tenebrae Effect Workshops
Operational Costs
Sl Bartholomew-Ihe-Great
A Prayer for Deliverance
For Ihy Creature the Bee
Third Culture Collective
Partnership
Tenebrae Academy
3,000
2,500
46,000
25,000
3,000
2,500
45,000
25,000
45,000
146.0001
58,379
669
3,500
5,000
1,000
74,500
192.8681
16691
16.000)
145,0001
11.000)
111,1561
12.000)
40,011
5,000
40,000
2,500
11,156
2,000
21,513
4,000
121,5131
14.000)
113,548
234,669
1230,206)
118,011
Total of funds
728,765
1,625,379 11,685,983)
668,161
Page 29

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
1& Stat•m•nt of funds (Continued)
Designated Funds for the year ended 31 August 2025
Leaming & Connection, £90,000 This fund is ring-fen￿d lo safeguar(J the delivery of our full
Learning & Connection programme for one year in the event that we miss our fundraising targets. This is
particularly important because our schools programme is designed to njn over 3 academic years.
Withdrawing from a school midway through their programme would compromise their overall experience
and risk devaluing the work already done.
Self-promotsd ¢onc•rt$. £78.882 - Historically, Tenebrae has been almost entirely dependent on paid
engagements by established concert promoters. Going forward, we will begin lo self-promote concerts in
8-10 strategically chosen locations around the UK. Benefits of this include.. greater artistic autonomy-
partial protection against a shrinking number of paid engagements due to the economic climate., the
opportunity lo perform for new audiences in locations where we are unlikely to be booked by concert
promoters.. and the opportunity lo better know and understand our audience. In the longer term we
expect these concerts to break even, but first we must focus on audience development. This fund
represents an investment in building this self-promoled concert circuit.
Infrastructure growth strategy, £50,000- The last few years have seen rapid growth in the scope of
Tenebrae's work and, as a result. we have had to grow our management team. It is probable that, al
some point in the next few years, we will need to add further stsff in the areas of finance and marketing.
The Board has made the decision lo ring-fence these funds lo facilitate future appoinlmenls.
Artistic Development Fund, £33.689- This fund is allocated to support projects which are artislically or
strategically important to further our aims. but do not generate revenue or fully cover their cost, such as
recordings, commissions and artistic R&D.11 also acts as an undemrite for projects wrth long lead-times.
for which we may not have a full view of extemal funding available at the point when we need to commit.
Digital l Marketing, £12,929 - This fund is allocated lo the development of Tenebrae's marketing
aclivily, particularly through the appointment of WildKat PR lo grow and improve the choir's activity on
social media.
25th annlversary projects, £25,000- A lump sum allocated to numerous artistic projects in celebration
of Tenebrae's 25th anniversary season in 2026-27 (see 'Post Accounting Period Events and Plans for
Future Periods'l. This is in addition to the rolling Arbstic Development Fund.
Green lourlng, £20,000 - Allocated to facilitate greener practices where possible and appropriate- e.g.
adding ground travel days rather than flying be￿een European engagements.
EDI strategy, £15,000- A small fund to kick-start initial work on a more comprehensive EDI strategy.
Dlscretlonary Concert Subsldy £5,000 To off-set small losses on strategic concert engagements
where the agreed concert fee éoesn't cover all our costs, but which we feel are beneficial lo the charills
aims.
Page 30

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
1& Stat•m•nt of funds (Continued)
Restricted Fund5 for the year ended 31 August 2025
Choral Development Programme- These funds were intended to support our work with London Youth
Choirs during the 2024-25 season. However. LYC couldn't accommodate us as planned, so it was
agreed with the funder that we would apply the funds in 2025-26, specifically by supporting LYC'S
Cambiata Boys Choir for boys in school years 7-11.
25th Annlversary - Restricted donations made towards numerous artistic projects in celebration of
Tenebrae's 25th anniversary season in 2026-27 (see 'Post Accounting Period Events and Plans for
Future Periods'l.
Associate Artists Scheme - Funds for expenses related to Tenebrae's flagship lalenl development
programme. This will subsidise the fees and training for the young professional singers enrolled on the
programme.
Spem in allum tour- A restn'cted donation made towards a 3-concert tour of a 40-singer programme
featuring Thomas Tallis. Spem in alium, due lo take place in October 2025.
Schools Fundrrenebrae Schools - Funds raised lo support the cost of delivering regular singing
activity in our partner slate primary schools in Southall {West London), including major grants from John
Lyon's Charrty and Paul Hamlyn Foundation.
Bach & Ma¢Millan - Donations from individual supporters towards the cost of lounng and recording a
new programme of music by J. S. Bach and Sir James Macmillan in spring 2023.
Tenebrae Effect Workshops- These funds support the delivery of our singing workshops wth adults
and young people.
Operational Costs- Funding to support core operating costs.
St Bartholomow-the.Great - An individual donation towards the cost of promoting a concert al St
Bartholomew-the-Great in London in June 2024.
A Prayer for Dellveran¢e
Funding lo support the cost of making a live recording of our concert
programme 'A Prayer for Deliverance, from Ryedale Festival, Yorkshire in July 2024. The album was
released in June 2025.
For thy Creature the Bee - A grant towards a perfomiance of Anna Semple's For Thy C￿ature the
Bee at the City Festival of Music, Invenlion & Knowledge in October 2024.
Third Culture Collective Partnership- Grants towards a collaboration between Tenebrae singers and
Indian classical musicians. Specifically. these funds supported a senes of exploratory workshops, a
schools sharing day. and an informal perfomiance of the resulting music in the Barbican foyer in spring
2025.
Tenebrae Academy - Funding lowards a major new initiative providing high-quality choral training for
approximately 20 talented young singers who face barriers to developing their singer beyond secondary
education.
Page 31

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
1& Stat•m•nt of funds (Continued)
ststomont of funds - prior period
Balance al
31 March
2024
Balance al
l April 2023
Transfers
in/oul
Income Expenditure
Unrestricted funds
Designated funds
Leaming & Connection
Self-Promoted Concerts
Infrastructure Growth Strategy
Artistic Development
Digital l Marketing
25th Anniversary Projecls
Green Touring
EDI Strategy
90,000
80,000
50,000
90,01
80,000
50,000
50,000
41,tlk)
25,000
20,000
15,000
50,000
41,000
25,000
20,000
15,000
50,000
321,000
371,000
Gèneral funds
General Funds
389,213
930,474
(754,470) (321,OOOJ
244,217
Total Unrestricted funds
439,213
930,474
(754,470)
615,217
Page 32

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
1& Stat•m•nt of funds (Continued)
Balance al
31 March
2024
Balance al
l April 2023
Transfers
in/oul
Income Expenditure
Restricted funds
Choral Development
Programme
Associate Artists Scheme
Josephine Stephenson New
Commission
Schools Fund l Tenebrae
Schools
Bach & Macmillan
A Christmas Conversation
Tenebrae Effect Workshops
Operational Costs
Sl Bartholomew-Ihe-Great
(3,000)
(47,000)
45,000
47,tlk)
45,000
4,684
(4, 684)
37,500
19,584
87,500
2,686
4,770
3,500
(66,621)
(21,601)
(4, 770)
58,379
669
3,500
1,000
106, 768
154,456
(147,676)
113,548
Total of funds
545,981
1,084,930
(902, 146)
728, 765
Page 33

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
1& Stat•m•nt of funds (Continued)
Designated Funds forthe year ended 31 March 2024
Leaming & Connection, £90,000 - This fund is ring-fenced to safeguard the delivery of our full
Learning & Connection programme for one year in the event that we miss our fundraising targets. This is
particularly important because our schools programme is designed to run over 3 academic years.
Withdrawing from a school midway through their programme would compromise their overall
experience and risk devaluing the work already done.
Self-promot•d conc•rts, £80,000 - Over the next 6 years we will begin to self-promole concerts in 8-
10 strategically chosen locations around the UK. Benefits of this include.. greater artistic autonomy.,
partial protection against a shrinking number of paid engagements due lo the economic climate., and the
opportunity to perform for new audiences in locations where we are unlikely lo be booked by cOn￿rt
promoters. In the longer temi we expect these concerts to break even, but first we musl focus on
audience development. This fund represents an investment in building this self-promoled concert circuit.
Infrastructure growth strategy. £50,000 - In the past 18 months we have created new roles11.6
FTEI in order lo keep up with the charity's continued growth.11 is probable that. at some point in the nexl
few years, we will need to add further staff in the areas of finance and marketing. The Board has made
the decision to ring-fence these funds lo facilitate future appointments.
Artistic Development Fund, £50,000 - Following the ongoing success of this fund over the past two
years, the Board have replenished it to £50.000. As before. it is allocated to support projects which are
artistically or strategically important lo further our aims, but do not generate revenue or fully cover their
cost. such as recordings. commissions and artistic R&D.
Digital l Marketing. £41,000 - In the Trustees, report to the previous sel of accounts. we identified the
development of our digital presence as a key strategic aim. Further lo that, we have recently taken on
WildKat PR lo manage our digital strategy, as well as increasing our budget for online content and web
development. For the financial year 2024-25 we are forecasting a deficit due to the investment of
reserves, so the Board has allocated £41,000 lo underwrite the fvll cost of this important strand of work.
25th annlversary prole¢ts, £25.000 A lump sum allocated to numerous artistic projects proposed for
Tenebrae's 25th anniversary season in 2026-27 (see 'Post Accounting Period Events and Plans for
Future Periods'l. This is in addition to the rolling Arbstic Development Fund.
Green tourlng, £20.(M)O- Ajlocated lo facilitate greener practices where possible and appropriate- e.g.
adding ground travel days rather than flying be￿een European engagements.
EDI strategy. £15,000 - A small fund to kick-slart initial work on a more comprehensive EDI strategy. In
the first instance this is likely to involve commissioning some consultancy. and creating subsidised lickel
programmes to widen access for those from underrepresented backgrounds.
Restrl¢ted Funds for the year ended 31 March 2024
Choral Development Programme - these funds were r￿1Ved for and applied towards our outreach
work with our Choral Development Partners (London Youth Choirs and Music Centre London).
Associate Artists Scheme - Funds for expenses related to Tenebrae's flagship talent development
programme. This will subsidise the fees and training for the young professional singers enrolled on the
programme.
Page 34

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
1& Stat•m•nt of funds (Continued)
Josephine Stephenson New Commission
a surplus of £4,684 remaining from funding originally
received towards the cost of a new commission in 2022 was applied Iwilh the consent of the funderl
towards our new Christmas Conversation programme, performed in De￿rnber 2023.
Schools Fundrrenebrao Schools - Funds raised to support the cost of delivering regular singing
activity in our partner state primary schools in Southall Iwest London), including major grants from John
Lyon's Charity and Paul Hamlyn Foundation.
Bach & Ma¢Millan - Donations from individual supporters towards the cost of touring and recording a
new programme of music by J. S. Bach and Sir James Macmillan in spring 2023.
A Christmas Conversation
funding to support audience growth for a new artistic programme
performed in December 2023, including in Nottingham ané Bury Sl Edmunds.
Tenebrae Eff¢¢t Workshops - these funds support the delivery of our singing workshops with adults
and young people.
Operational Costs- funding to support core operating costs.
St Bartholomew-the￿r8at - funding lo support an own-promolion cOn￿rt at St Bartholomew-the-
Great church in London in June 2024.
17. Summary offunds
Summary offunds - current period
Balance at
31 Augu$t
2025
Balance at 1
April 2024
Transfers
inlout
Income Expendlture
Designated funds
General funds
Restricted funds
371,000
244,217
113,548
147,1971
1,390,710 11.408,5801
234,669
1230,2061
6,697
(6.697)
330,500
219,650
118,011
728,765
1,625,379 11,685,983)
668,161
Page 35

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
17. Summary of funds (Continued)
Summary of funds- prlor period
Balance al
31 March
2024
Balance al
l April 2023
Transfers
in/oul
Income Expenditure
Designated funds
General funds
Reslncted funds
50,000
389,213
106, 768
321,000
(754,470) (321,000)
(147,676)
371,000
244,217
113,548
930,474
154,456
545,981
1,084,930
(902, 146)
728, 765
18. Analysis of net assets betweon funds
Analysis of net assets between funds - current perlod
Unrestricted Restricted
Total
funds
funds
funds
31 August 31 August 31 August
2025
2025
2025
Tangible fixed assets
Current assets
Creditors due wf(hin one year
5,614
701,279
1156.743}
5,614
178,011
879,290
160.000} 1216,7431
Total
550,150
118,011
668,161
Analysis of not ass•ts between funds - prior period
Unrestricted
funds
31 March
2024
Restricted
funds
31 March
2024
Total
funds
31 March
2024
Tangible fixed assets
Current assels
Creditors due wrthin one year
7,391
687,079
(79,253)
7,391
800,627
(79,253)
113,548
Total
615,217
113,548
728, 765
Page 36

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
19. Ro¢on¢iliation of net movomont in funds to not cash flow from 0￿ratIng activities
17 months
ended
31 Augu$t
2025
12 months
ended
31 March
2024
Net incomelexpenditure for the period las per Statement of Financial
Aclivrtiesl
160.6041
182, 784
Adjustments for..
Depreciation charges
Inleresl receivable
Increase in stocks
Decreasellincreasel in debtors
Increase in creditors
Loss on disposal of investment
4,919
115,2161
11.780)
1110,8221
137,490
1,611
(335)
2,056
19,120
Net cash provlded byllused Inl operatlng actlvltles
146,0131
205,237
Analysis of cash and ¢a$h oquivalonts
31 August
2025
31 March
2024
Cash in hand
665,542
699,481
Totsl cash and cash equlvalents
665,542
699,481
21. Analysis of changes In net debt
At 1 April
At31
2024 Cash flows August 2025
Cash at bank and in hand
699,481
133.9391
665,542
699,481
133,9391
665,542
Page 37

THE TENEBRAE CHOIR
IA company limited by guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2025
Pension commitments
The charity operales a defined contribution pension scheme. The assets of the scheme are held
separately from those of the charty in an independently administered fund. The pension cost charge
represents contributions payable by the charity lo the fund and amounted lo £6,788 (2024 - £2,802)
Contributions of £1,026 (2024 - £nil) were payable lo the fund at the balan￿ sheet dale and are included
in creditors.
Operatlng lease ¢ommltmont$
At 31 August 2025 the charity had commitments to make future minimum lease payThenls under non-
cancellable operating leases as follows..
31 August
2025
31 March
2024
Not later than 1 year
8,020
6,420
Page 38