Docusign Envelope ID.. 581968E5-E2G84E9F-6379-DZA625669C17
Charity Reglstratlon No. 1144998
Company Registratlon No. 07341744 (England and Wales)
LA NUOVA MUSICA
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

Docusign Envelope ID.. 561968E5-E2C84E9F-B379-D2A625669G17
LA NUOVA MUSICA
CONTENTS
Page(s)
Legal and Administrative Inforniation.......................................
Trustees. Report..................................................................... 44
Independent Examiner's Report................................................
statement of Financial A¢tivities..........................................
10-11
Balance Sheet........................................................................ 12-13
Notesto the A¢¢ount$............................
14-20

Docusign Envelope ID.. SB1968E&E2L84E9F-B379-D2Afj25669C17
LA NUOVA MUSICA
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
C Wearing - Chairperson & Trustee
V Aubry- Trustee
D S Bernstein - Trustee
D S J Clegg - Trustee
D F M COté- Trustee & Treasurer
l Laurent- Truslee
J McHardy {appointed 28 March 2025}
Artistic Director
D P Bates
Bank
Lloyds Bank plc
Blue Boar Row
Salisbury,
Wiltshire
Charity Number
1144998
Company Number
07341744
Registered Office
Pistyll Farm
Llanvair Kilgeddin
Abergavenny
Gwent
NP7 9DY
Independent Examiner
Four Fifty Partnership
34 Boulevard
Weston-super-mare
Somerset
BS23 1NF

Docusign Envelope ID.. 5B1968E5-E2G84E9F-6379-DZA625669C17
LA NUOVA MUSICA
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees, who are also directors for the purposes of the Companies Act, are pleased to present
theirannual report and financial statements which are prepared to meetthe requirements for a directors,
report and accounts for Companies Act purposes. The legal and administrative information set out on
the first page of thes&accounts forms part of this report.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the
Memorandum and Articles of Association, and the Charities Statement of Recommended Practice
('Charities SOR P,) (applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland., FRS 102 issued in October 2019).
OUR PURPOSES AND ACTIVITIES
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what
activities the Charity should undertake and the public benefit which should be achieved. The Trustees
have determined that the objects of the Charity a￿ to advance the education of the public in the
appreciation of music.
La Nuova Musica ("LNM" or the 'Charity") is an ensemble established by David Bates, which is
dedicated to music of the Baroque and early Classical periods. It aims to provide the highest standard
of musical performance with a focus on 17th and 18th century repertoire for the benefit of as wide an
audience as possible.
La Nuova Musica takes its name from Le nuove musiche, a treatise published in 1602 in Florence by
the early Baroque composer Giulio Caccini (1551-1618). Le nuove musiche includes musical examples
of how singers can convey precise emotion through omamentation of a melodic line and LNM has used
Le nuove musiche as the guiding principle in its approach to its musical performances. A natural
consequence is that all its pefft?rmances, whether vocal or instrumental, are consciously imbued with a
sense ofdrama. David Bates believes that, through a commitment to a sense of theatre, LNM accesses
the emotional and psychological heart of the repertoire that it performs.
A distinguishing characteristic of LNM'S work is discovery and performance of lesser-known gems from
the Baroque era. This rediscovery of the old is coupled with commissioning of the new. LNM is
dedicated to the support of new music, which complements its performance of the more established
repertoire.
The Trustees have considered the guidance on public benefit published by the Charities Commission
and considers that through La Nuova Musica's musical activity, it has delivered public benefit in
accordance with the aims of the Charity. La Nuova Musica's repertoire reflects the chief musical forms
of the Baroque and early Classical periods and includes concerts, performance of opera, (often in semi-
staged versions which improve accessibility) and recording projects. La Nuova Musica conducts open
rehearsals and mounts master classes with established singers and recent graduates from Music
Conservatories offering engagements to young singers and players where appropriate.
ACHIEVEMENTS AND PERFORMANCE
David Bates, emphasis on communicating the emotions contained in this musical repertoire creates an
experience that is both accessible and compelling and forms the hallmark of his performing style.
In 2024 this vision was delivered though LNM'S regular presence in concerts at the Wigmore Hall,
London Handel Festival and St Martin in the Fields in London.
Four concerts took place at the Wigmore Hall during the year, three of which featured the soprano Lucy
Crowe who performs with LNM regularly. LNM commissioned a new piece by Luke Styles as a
companion piece to Carissimi's Jeptha which received its world premiere at the Wigmore Hall in June.

Docusign Envelope ID.. SB1968E5-E2C84E9F￿37￿D2A62S669c1/
LA NUOVA MUSICA
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) . CONTINUED .
FOR THE YEAR ENDED 31 DECEMBER 2024
A performance of Handel's "Aci, Galatea and Polifemo" in October featuring Lucy Crowe, Fleur Barron
and Luigi di Donato garnered a handful of four and five star reviews.
"The e,bullient, passionate performance delivered by La Nuova Musica at the Wi
more Hall last night
proved that there's simply no substitute for excavating every emotion in a score till the whole auditorium
zings Artsdesk
In April, LNM appeared at the London Handel Festival in a performance of Handel's Arianna in Creta.
with a cast of leading soloists, including Beth Taylor and Hilary Cronin. LNM invited young singers
from the Royal Academy of Music to join as understudies for this concert, one of whom made her
London debut due to the indisposition of one of the soloists.
"A thrillingly sung Arianna in Creta at st George's Hanover Square. David Bates, his young cast and
La Nuova Musica really set the rafters ablaze." Hugh Canning Operalogue
During the summer, LNM gave five performances of Monteverdi's Coronation of Poppea atthe Grange
Festival in Wiltshire which was described by Opera Today as "very truly a five star production, and
easily one of the best interpretations of Monteverdi or a Baroque opera I have seen.
In November LNM gave a performance of Haydn's Creation at St Martin in the Fields which was followed
in December by a concert in the Medieval Hall in Salisbury with Lucy Crowe singing highly distinctive
arrangements by jazz pianist and arranger lain Farrington of Christmas music through the ages. This
was repeated the following night at the Wigmore Hall.
FINANCIAL REVIEW
The surplus of La Nuova Musica for the year was £5,507 (2023.. £164,751 } and the total fund balance
on 31 De￿mber 2024 was £213,195 (2023.. £207,688). This reflects the results of a major fjjndraising
inits-ative in autumn 2023 aimed at building reserves to enable the organisation to plan with more
certainty.
The Trustees are most grateful to the charitable trusts and individuals who support the work of the
Charity. During the year, donations totalling £64,143 (2023.. £193,270) were made to the Charity.
Without them the Charty could not continue to deliver its programme of performan￿$ and recordings.
The Charity continues to benefit from the dedicated work of its highly experienced management team
that provides it with the professional support structure needed to facilitate the smooth running of its
activities, but without an overly burdensome layer of fixed costs. Maintaining this balance remains a
challenge, but the Trustees believe that by using freelance members of staff whose level of activity can
be tailored to match those of the Charity at any given time, they are able to achieve an appropriate
balance of cost control and professional resource.
The Trustees are most grateful for the extensive contributions made by the management team during
the year.
The Charity has benefited materially in this and previous years from the receipt of monies from claims
for Orchestral Tax Relief. This has made a very significant positive difference to the Charity's financial
position during the year. The Charity is entitled to an Orchestral Tax Relief claim for the year to
December 2024 amounting to £51,347 {2023: £21,920).
The Charity has a policy of maintaining a designated reserve to cover fixed overhead costs in line with
Charity Commission guidance.

Do¢usign ErÈvelope10'. 581968E5-E2C84E9F-8379-02A625669L17
LA NUOVA MUSICA
TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) . CONTINUED-
FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW (Continued)
Reserves policy and going concern
Reserves are needed to bridge the gap befNeen the spending and receiving of income and to cover
unplanned emergencies. They are also needed to allow future artists'c plans to be made with confidence
and ambition.
The Trustees consider that a reserve equivalent to six months average overhead5 is sufficient for these
purposes and this has been calculated as £65,000 for the current year but will need to be reviewed
going forward. A major fundraising initiative took place in autumn 2023 to build the level of reserves
and further initiatives are planned for 2025 to raise funding for a collaboration with the Linbury Theatre
at the Royal Ballet and Opera on Handel's Giustino.
The trustees have reviewed the circumstances of La Nuova Musica and consider that adequate
resources continue to be available to fund its activities for the foreseeable future. The Trustees are of
the view that the charity is a going concern.
Loan from David Bates
Prior to the incorporation of the charitable company on 10 August 2010, La Nuova Musica was a sole
trader business of David Bates. Following incorporation, certain assets and liabilities were transferred
to the Charity and approved by the Board of Trustees. All the assets transferred and disbursements
made on behalf of the Charity have been aggregated to form the balance of a loan payable to David
Bates. See detail in note 15.
PLANS FOR FUTURE PERIODS
In 2025, LNM continues its regular presence at the Wigmore Hall with a performance in February of
music by Charpentier, repeated at the Steffani Festival in Hanover. A second Wigmore Hall
performance in May will feature music by Telemann and Handel with repeat performances in Oxford
and Salisbury.
In the autumn, LNM will take part for the first ts-me in a co-production with the Royal Ballet and Opera
giving eight performances at the Linbury Theatre of Handel's Giustino.
This will be followed in November by performances of Mozarvs C minor Mass in Bath, Oxford and St
Martin in the Fields in London.
As referred to above, further fundraising initiatives are planned for 2025 and beyond.
STRUCTURE, GOVERNANCE AND MANAGEMENT
La Nuova Musica is a Private Company Limited by Guarantee (Registered in England Number
07341744). incorporated on 10 August 2010 and governed by the Memorandum and Articles of
Association which were approved on 10 October 2011. La Nuova Musica is also a Registered Charity
(Registered Charity Number 1144998)- Authorisation to dispense with the word "Limited" was granted
on 10 August 2010. La Nuova Musica is committed to achieving its aims through an artistic programme
of concerts, education and recordings.
The charitable company is governed by the Board of Trustees which sets the policy of the Charity.,
determines corporate strategy, including setting key strategic objectives,. makes major decisions about
the use of finances,. ensures the propriety of those finances and any financial disclosures to the public.,
and sets a framework for human resources policy within a clearly understood framework of strategic
control.

Docusign Envelope ID- 581968ES_E2C84E9F_B379-D2A625669C17
LA NUOVA MUSICA
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) . CONTINUED-
FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT (Continuad)
The Board of Trustees meets four times a year to oversee the work of the Charity and delegate day-to-
day management of La Nuova Musica to the Artistic Director, David Bates, the Chief Executive, John
Surnrners and the Management Team.
Under the terms of the Articles of Association, the Trustees have the power to appoint new Trustees
having regard to the requirement for special skills and needs of the Charity. New Trustees are given
an induction by the Chair of the Trustees and the Chief Executive and are made aware of their legal
obligations under Charity law and the aims and Objects of the Charity. Updates and training on new
developments is given as needed and by circulating Charity Commission guidance as appropriate. The
Trustees are also the directors for the purpose of company law.
None of the Trustees has any beneficial interest in the charitable company.
All of the Trustees are members of the Company and guarantee to contribute £1 in the event of a
winding up.
The Charity's current policy concerning the payment of trade creditors is to follow the Prompt Payment
Code.
Prlnclpal risks and uncertaintles
The Trustees regularly review the risks to which La Nuova Musica is exposed and identifies their
possible impacts. Systems have been estsblished to mitigate those risks and procedures developed
to eliminate, manage, mitigate ortransfer the risk. These procedures are periodically reviewed to ensure
that they still meet the needs of La Nuova Musica.
The Trustees have identified that the principal risk faced by the charity is financial sustainability. In order
to mitigate this the Trustees instigated a major fundraising initiative in autumn 2023 to build the level of
reserves which will be followed in 2025 by an initiative to raise fu nding for a joint production of Handel's
Giustino with the Linbury Theatre at the Royal Ballet and Opera.

Docusi9n Envelope ID.. 5819&8E5-E2C&4E9F-837￿D2A625669G17
LA NUOVA MUSICA
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT>. CONTINUED -
FOR THE YEAR ENDED 31 DECEMBER 2024
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Trustees, who are also the Directors of La Nuova Musica for the purpose of company law, are
responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting practi￿).
Company Law requires the Trustees to prepare accounts for each financial year which give a true and
fair view of the state of affairs of the Charity and of the incoming resources and application of resources,
including the income and expenditure, of the Charitable Company for that year.
In preparing these accounts, the Trustees are required to:
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP"
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the accounts., and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity
will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at any time the financial position of the Charity and enable them to ensure that the accounts
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.
The Trustees. report was approved by the Board of Trustees on
07 July 2025
S*ned by.
A5037
2812E1406...
Ms C Wearing
Chairperson and Trustee

Docusign Envèlope 10: 581968E5-E2C8-4E9F-8379.D2A625669C17
LA NUOVA MUSICA
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF LA NUOVA MUSICA
I report to the charity trustees on my examination of the accounts of the company for the year ended
31 December 2024, which are set out on pages 10- 20.
Responsibilities and basis of report
As the charity's trustees of the company (and also its directors for the purposes of company law) you
are responsible for the preparation of the accounts in accordan￿ with the requirements of the
Companies Act 2006 ('the 2006 Act'>.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16
of the 2006 Act and are eligible for independent examination, I report in respect of my examination of
your charty's accounts as carried out under section 145 of the Charities Act 2011 (the '2011 Act,). In
carrying out my examination I have followed the Directions given by the Charity Commission under
section 145(5)(b} of the 2011 Act.
Independent examiner's report
Since the company's gross income exceeded £250,000 your examiner must be a member of a body
listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because
l am a member of the Institute of Chartered Accountants in England and Wales: which is one of the
listed bodies.
I have completed my examination. l Confirm that no matters have come to my attention in connection
with the examinalion giving me cause to believe=
{1) accounting records were not kept in respect ofthe company as required by section 386 of the 2006
Act., or
{2} the accounts do not accord with those accounting 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
charits'es preparing their account5 in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Joy
oswell FCA FCCA
Dated 7 TLJLY 1015
Four Fifty Partnership
34 Boulevard
Weston-super-mare
Somerset

Do¢u$ign Envelope10.' 5B1968E>E2C8-4E9F-B37￿O2A62S6G9c77
LA NUOVA MUSICA
BS23 1NF
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Note
31-Dec-24 31-Dec-24 31-Dec-24 31-Dec-23
Unrestricted Restrfcted
Totsl
Total
INCOMEtrom
Donations & Grants
Musical Performances & Recordings
Bank interest
Orchestra Tax Relief
Gift Aid
INCOME
53.143
198,433
1,985
51,347
9,750
314.658
11,000
64.143
198,433
1.985
51,347
9,750
325.658
193,270
63,756
423
26,761
16,444
300,654
11,000
EXPENDrruRE on:
Raising Funds
Charitable Activities
RESOURCES EXPENDED
115,2791
1287,6221
1302.9011
115.2791
15,2491
117,2501
304,8721 1130,6531
117.2501 1320,1511 1135.903)
NETINCOMEI IDEFICITI FOR THEYEAR
I=NET MOVEMENTIN FUNDS)
IL757
6,250
5.507
164751
FUND BALANCES AT STARTOF YEAR
FUND BALANCES AT END OF YEAR
201,438
213.195
6.250
207.688
213,195
42,937
207,688
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The statement of financial activitie5 also complies with the requirements for an income and
expenditure account under the Companies Act 2006.
io-

Docusign Envelope ID.. 581968E5.E2C84E9F_8379.02A625669G17
LA NUOVA MUSICA
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Note
31-Dec-23
31.Dec-23 31-Dec-23
Unrestricted Restricted
Total
INCOMEfrom
Donations & Grants
Musical Performances & Recordings
Bank interest
Orchestra Tax Relief
GiftAld
INCOME
188,270
63.756
423
26,761
15,194
294,404
5,000
193.270
63,756
423
26,761
16,444
300,654
1,250
6,250
EXPENDITURE on:
Raising Funds
Charitable Activities
RESOURCES EXPENDED
15.2501
1130.6531
1135.9031
15,2501
130.6531
1135,903
NEfiNCOME I (DEFICIT) FOR THEYEAR
I=NETMOVEMENTIN FUNDSI
158,501
6.250
164,751
FUND BALANCES AT START OF YEAR
FUND BALANCES AT END OF YEAR
42,937
201A38
42.937
207.688
6250
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure
account under the Companies Act 2006.
li-

Docusign Envelope 10." 581968E5-E2C84E9F-837￿D2A6256s9c1I
LA NUOVA MUSICA
BALANCE SHEET
AS OF 31 DECEMBER 2024
Note
31-Dec-24 31-Dec-23
FIXEDASSETS
Intangible Assets
Tangible Assets
FIXEDASSETS
io
1,539
9,000
10,539
1,815
9,000
10,815
11
CURREMfASSETS
Trade Debtors
Prepaid Expenses
Recoverable Tax & Tax Relief
Cash
CURRENT ASSETS
12
5,912
10,513
51.825
189,143
257,393
4,266
9,793
38,635
206.659
259.353
12
12
13
CREDrroRS - FALLING DUE WITHIN I YEAR
Taxation &SocialSecurity
Other Creditors
CREDITORS- FALLING DUE WITHIN I YEAR
14
14
17,199)
134,560)
{41,759)
{13,850)
{35,652)
(49,502)
NEf CURRENT ASSETS
215,634
209,852
CREDrfoRS - FALLING DUE AFTER I YEAR
Other Creditors
CREDITORS- FALLING DUE AFTER I YEAR
15
12,978
(12,978)
12,978
(12,978)
TOTAL NEfASSETS
213,195
207,688
INCOME FUNDS ALLOCATION
Restricted Funds
Designated Funds: ReSe￿e
Unrestricted Funds
TOTAL INCOME FUNDS
6,250
15,000
186,438
207,688
73,000
140,195
213.195
For the year ended 31 December 2024 the members have not required the company to obtain an audit in
accordance with section 476 of the Companies Act 2006.
12-

Docusign Envelope ID.. SB1966E5-E2G84E9F-8379-D2A625669C17
LA NUOVA MUSICA
BALANCE SHEET- CONTINUED.
AS OF 31 DECEMBER 2024
NOTE".
The company is entitled to the exemption from the audit requirement contained in section 477 of the
Companies Act.
The Trustees are responsible for ensuring that the Charity keeps accounting records which comply with
section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs
of the Company as at the end of the financial year and of its incoming resources and application of
resources, including its income and expenditure, for the 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 accounts, so far as applicable to the Company
These financial statements have been prepared in accordan￿ with the provisions applicable to
Companies subject to the Small Companies regime.
07 July 2025
The accounts were approved by the Trustees on
Sluned by.
A503
2B12E1486.-.
Ms C Wearing
Chairperson and Trustee
Company Registration No. 0734174
13-

Docusign Envelope 10: 5Ellgti3E5-E2G84&9F-8379-L)2Afj25669C17
LA NUOVA MUSICA
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1- ACCOUNTING POLICIES
Charfty Informatlon
La Nuova Musi¢a is a private Chgritable Company limited by guarantee inoorporated in Englgnd and
Wales. The registered office is Pistyll Farm, Llanvair Kilgeddin, Abergavenny, Gwent, NP7 gDY.
1.1 Accountlng convention
The accounts have been prepared in accordance with the Charity's governing document, the
Companies Act 2006 and "Accounting and Reporting by Charities.. 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 {FRS 102)" las amended for accounting periods
commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update
Bulletin 1 not to prepare a Ststement of Cash Flows.
The financial statements have been prepared under the historical cost convention. The principal
accounting policies adopted are set out below. The statements are prepared in pounds sterling (£).
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the
Charity has adequate resources to continue in operational existence for the foreseeable future. Thus,
the Trustees continue ta adopt the going concern basis of accounting in preparing the financial
statements.
1.3 Charitable funds
Unrestricted funds are available for use atthe discretion of theTrustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes
and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Incomlng resources
Income is recognised when the Charity is legally entitled to it after any performance conditions have
been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been
notified of the donation, unless performance conditions require deferral of the amount. Income tax
recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the
time of the donation.
Legacies are re¢ognised on receipt or othe￿iSe if the Charity has been notified of an impending
distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is
treated as a Contingent asset.
1.5 Resources expended
Basic financial liabilities, including creditors and loans are initially recognised at transaction price unless
the arrangernent constitutes a financing transaction, where the debt instrLiment is measured at the
present value of Ihe future payments discounted at a market rate of interest. Financial liabilities
classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary
course of operations from suppliers. Amounts payable are classified as currenl liabilities if payment is
due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are
recognised initially at transaction price and subsequently measured at amortised cost using the effective
interest method.
14-

Do¢usign Envelope10'. 561968E5-E2C84EgF-B379-D2A625669C17
LA NUOVA MUSICA
NOTES TO THE FINANCIAL STATEMENTS- CONTINUED-
FOR THE YEAR ENDED 31 DECEMBER 2024
Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and
,services for its beneficiaries. It includes both costs that can ,be allocated directly to such activities and.
those costs of an indirect nature necessary to support them.
1.6 Intangible fixed assets other than goodwlll
The intangible asset comprises the brand associated with the name La Nuova Musica" as represented
by Baroque music specialists under the artistic direction of David Bates and is stated at cost less
accumulated amortisation. Amortisation is recognised so as to write off the cost of the asset less its
residual value on the following basis.. straight line basis over 20 years.
1.7 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation,
net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values
over their useful lives.
The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale
proceeds and the carrying value ofthe asset and is recognised in net incomel{expenditure) for the year.
The musical instrument included in fixed assets, in the opinion of the Trustees, has an estimated
residual value higher than cost, so no depreciation has been charged in order to show a true and fair
view.
1.8 Impairment of fixed assets
At each reporting end date, the Charity reviews the carrying amounts of its tangible and intangible
assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the
extent of the impairment loss (if any}.
1.9 Stocks
Stocks 8ssociated with recording music are stated at the lower of cost and estimated selling price less
costs to complete and sell. These costs will be matched to the revenue stream that the recorded music
will generate on distribution of that music.
2 CRETICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
In the application of the Charity's accounting policies, the Trustees are required to make judgements,
estimates and assumptions about the Carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised where the revision
affects only that period, or in the period of the revision and future periods where the revision affects
both current and future period.
15-

Docusign Envelope ID: 5Bl968E&E2C84E9F-B37￿O2A625669C1T
LA NUOVA MUSICA
NOTES TO THE FINANCIAL STATEMENTS- CONTINUED -
FOR THE YEAR ENDED 31 DECEMBER 2024
3 DONATIONS AND GRANTS
31-De¢-24 31.Dec-24 31-Dec-24 31-Dec-23
Unrestrlcled Restrlcted
Total
Total
Donations & Gifts
Grants Receivable
Donatlons & Granls
53,143
53,143
11,000
64,143
193,270
11,000
11,000
53,143
193,270
31-Dec-23 31-Dec-23 31-Dec-23
Unrestricted Restricted
Total
Donations & Gifts
Grants Receivable
Donatlons & Grants
188,270
5,000
193,270
188,270
5,000
193,270
4 INCOME FROM CHARITABLE ACTIVITIES
31-Dec-24 31-Dec-24 31-Dec-24 31-Dec-23
Live Perf.
CD Sales
Tolal
Total
Income from Performances & Recordings
Royalties
Income from Performances & Recordln
198,433
198.433
59,498
4,258
63,756
198,433
198,433
5 GIFT AID
31-Dec-24 31-Dec-24
Unrestricted Restricted
31-Dec-24
Total
GiftAid
Glft Ald
9,750
9,750
9,750
9,750
31-Dec-23 31-Dec-23 31-Dec-23
Unrestrlcted Restrlcted
Total
Gift Aid
Gift Aid
15,194
15,194
1,250
1,250
16,444
16,444
6 EXPENDITURE ON RAISING FUNDS
31-Dec-24 31-Dec-23
Costs of generating Grants & Donations
15,279
{5,249)
16-

Docusi9n Envelope ID.. S61968￿s-E2C84E9F-S37g-D2A62SS69C1T
LA NUOVA MUSICA
NOTES TO THE FINANCIAL STATEMENTS- CONTINUED -
FOR THE YEAR ENDED 31 DECEMBER 2024
7 CHARITABLE ACTIVITIES
31-Dec-24 31-Dec-24 31-Dec-24 31-Dec-23
Unrestricted Restrlcted
Total
Total
Musical Performance Costs
Other Performance Costs
Support Costs (Note 81
Governance Costs
Note 81
Charitable Activities
1179,6261
{36,9641
{67,4171
3,615
287,6221
1179,6261 163,9061
154,2141 {21,1441
167,4171 {41,9261
13,615
13,677
304,8721
130,653)
{17,2501
117,250)
31-Dec-23 31-Dec-23 31-Dec-23
Unrestricted Restricted
Total
Musical Performance Costs
Other Performance Costs
Support Costs (Note 8)
Governance Costs (Note 8)
Charitable Actlvities
(63,906)
(21,144)
(41,926)
3,677)
(130,653)
163,9061
121,1441
141,9261
(3,6771
{130,653}
8 GOVERNANCE & SUPPORT COSTS
31-Dec-24 31-Dec-23
Examiner's Fees
Other Governance Costs
Governance Costs
13,500)
115)
3,615)
(3,450)
(227)
3,677)
Staff Expenditure
ExcludingFundraising
Operational Expenditure
FinanciaL Ex
enditure
port Costs
(56,663)
16,697)
14,057)
(67,417
(33,215)
15,068)
(3,643)
(41,926
9 EMPLOYEES
There were no employees during the year.
None of the Trustees were reimbursed for expenses incurred.
17-

Docusign Envelope ID." SB1968E&E2C84E9F-8379-02A625669C17
LA NUOVA MUSICA
NOTES TO THE FINANCIAL STATEMENTS- CONTINUED-
FOR THE YEAR ENDED 31 DECEMBER 2024
10 INTANGIBLE FIXED ASSETS
The only intangible fixed asset of the Charity is its brand name:
31-Dec-24 31-Dec-23
Initial Bookcost
5,513
5,513
Amortisation at End of Last Year
Amortisation Charged for the Year
Amortisation at End ofcurrentyear
13.698)
1276)
{3,974)
(3,423)
(276)
(3,698)
CarryingAmount at End of Last Year
Carrying Amount at End ol Currentyear
1,815
1,539
2,090
1,815
11 TANGIBLE FIXED ASSETS
31-Dec-24 31-Dec-24 31-Dec-23
Musical
Total
Totsi
Instruments
Cost
Atstart ofyear
Additionsl (Disposals) in the Year
At End of Year
9,000
9,000
9,000
9,000
9,000
9,000
Depreclatlon & Impalrments
Atstart ofyear
Charged in the Year
At End of Year
CarrylngAmount
Atstart ofyear
At End of Year
9,000
9,QOO
9,000
9,000
9,000
9,000
12 DEBTORS
31-Dec-24 31-Dec-23
Tax Claims & Tax Reliefs
Trade Debtors
Prepaid Expenses and other debtors
Amounts Falung Due wlthin l Year
51,825
5,912
10,513
68,250
38,635
4,266
9,793
52,694
18-

Docuslgn Envelope ID.. 5BI 968ES-E2G'￿E9F-8379.D2AfjES669CI7
LA NUOVA MUSICA
NOTES TO THE FINANCIAL STATEMENTS- CONTINUED-
FOR THE YEAR ENDED 31 DECEMBER 2024
13 CASH & CASH EQUIVALENTS
31-Dec-24 31-Dec-23 .
Cash & Cash Equivalents
189,143
189,143
206,659
206,659
14 CREDITORS FALLING DUE wrrHIN 1 YEAR
31-Dec-24 31-Dec-23
Taxation & Social Security
Staff Fees
Other Suppliers
Deferred income
Amounts Falling Due within l Year
{7,199)
(13,8501
{3,7251
(13,5271
(18,400)
(49,502)
{9,077)
(25,483)
{41,759
Deferred Incomo
31-Dec-24 31-Dec-23
Deferred income at start of year
Income released
Income deferred
18,400
8,984
(8.984)
18,400
7.083
Deferred income al close of the
ear
25,483
18,400
Deferred income at the start of the year together with income deferred in the year relates lo advance
receipts from Herrenhausen re a performance in Hannover in 2025.
15 CREDITORS FALLING DUE AFTER 1 YEAR
31-Dec-24 31-Dec-23
Amounts Fallln
Due after l Year
12,978)
{12,978
Creditors due after more than 1 year comprise a loan of £12,978 (2023.. £12,978) from the Artistic
Director David Bates. The Board of Trustees and the lender have agreed that the repayment of this
loan will be postponed until after the creation of a sufficient reserve from unrestricted funds, and
any amount to be repaid will be linked to that reserve. Consideration will therefore be given to the
repayment of this loan in due course.
No interest has b&n paid or accrued on this loan, and no repayment date has been established.
The loan is not repayable within the next 12 months and has accordingly been included in creditors
falling due after more than one year.
19-

Docu$￿n Envelope ID.. 581968E5-E2C84EgF-B379-D2A625669G17
LA NUOVA MUSICA
NOTES TO THE FINANCIAL STATEMENTS- CONTINUED-
FOR THE YEAR ENDED 31 DECEMBER 2024
16 FUNDS
The income funds of the Charjty include restricted funds comprising the following unexp.onded
balances of donations and grants held on trust for specific purposes.
31-Dec-23
Batance
2024
2024
31-Dec-24
Balance
Incoming
Expended
Unrestricted l General Fund5
Designated funds general
Designated funds for Salisbury 2025
Total unrestrlcted f unds
186,438
15,000
256,658
50,000
8,000
314,658
1302,9011
140,195
65,000
8,000
213.195
201,438
{302,901)
Aubry's re London Handel Festival
Continuo Foundation & Cockayne Grantforthe Arts
6.250
16,2501
Iii.0001
11,000
Restrlcted Funds
Total Funds
6,250
207,688
11,000
325,658
117,2501
1320,1511
213,195
31.Dee.22
Baience
2023
31-De¢-23
Incomlng Erpended Balance
Unvestrictedl GenefalFunds
27,937 294404
In
D•$lgnated funds
i&(x)o
,0
Aubry's Te London Handel Festival 2024
Restrlctd Funds
Totsl F¢H￿S
6,250
6.250
6.250
41937 207,688
Restricted funds are all held for the purposes of funding the individual performances, recordings or
other projects they were raised for as described above.
17 ANALYSIS OF NET ASSETS BETWEEN FUNDS
31-Dec-24 31-Dec-24 31-Dec-24
Unrestrlcied Restricted
Total
Intangible Fixed Assets
Tangible Assets
Current Assets
Current Liabilities
LongTerm LiabiLities
TotalFunds
1,539
9,000
257,393
(41,7591
(12,978)
213,195
1,539
9.000
257,393
{41,759)
{12,978)
213,195
-20-