Registered number
08133744
ND
Cty Music Foundation
(Company Limited by Guarantee)
Report and Accounts
31 July 2021
RidgefieLd
Consulting
ICAEW
CHARTERED
CCOUIITANTS

Clty Muslc Foundatlon
Report and a¢Gounts
Contents
Page
Company Information
Management Committee Report
Inde￿nd•ll1 Examine¢s Rer4)rt
Statement of Financial A¢tiwbes
Balar￿e sheet
Notes to the accounts
8-10

Clty Muslc Foundatlon
Company Infomiation
Directors
Sir {Michaell Roger Grfford (deceas￿ on 25 May 20211
Sir Andrew Charles Pannley
DT Kate Ann Gee
Mr Alastair John Naisbitt King lapp)inttyJ on 1 November 2019)
Accountants
R￿gefIeld Consulb'ng Limited
2 Hinksey Court
Church Way
Oxford
OX2 9SX
R•glstarod offlc•
Church House
Cloth Falr
London
EC1A7JQ
Regl•t•rnd numb•r
08133744
Charlty nUM￿r
1148641

City Music Foundation
Company Registered numbor:
Charity Rogistsrod number:
08133744
1148641
Report Of The Managamont Commlttao For Thè Year Ended 31 st July 2021
The Management Committee presents its Directors. Report and the unaudited financial statements for
the year ended 31 Juty2021.
Governlng Documènt
The organisation is a charitable company limited by guarantee. The wmpany was incorporated on 6th
July 2012 and registered as a charity on 20th August 2012. The company was established under a
Memorandum of AsscKiats'on which established the objects and powers of the charilable company and is
governed under its Articles of Association. In the event of the company being wound up members are
required to ¢onlribute an amount not exc68ding £1 each.
Objects
The charity's objects are $pe¢ifi¢ally restricted to the folhjwng:
111 the advancement of the arts, culture and education. and
121 the advancement in lrfe of young musician$ {a$ soloists or in ensembles) as they stsrt thelr
professional careers,. in parts"¢ular by provwjing sp)nsorship. financial assistance and perfomiance
opportunities in London or elsewhere,
provided that all ol the Objects of the charity shall be charitable in nature and shall be the
public benefiL
Nothing in th8 articles shall authorise an appiicats'on of the property of the charity for purposes which are
not charitable in accordance with Section 7 of the Charities and Trustee Investment (Scotlandl Act 2005
andlor section 2 of the Charitses Act (Northem Ireland) 2008.
A¢hl•v•rnonts and Perfomance
CMF'S mission is'lurning tatent into su¢¢ess'. We select exceplKJnal classical soloists and chamber
ensembles, as well as jazz, folk. and wodd musicians, at Ihe start of their professional careers. At this
time when managing 'the business of music, can be a challenge. CMF supports them wth a
comprehensive career development programme. We arrange artistic and business mentoring, run
workshops, make CDS, videos and websites, commission new Mus￿, secu￿ airb'me on B8C Radio 3
and promotion though online, print and social media. and pul on our own recitals, residencies and
concerts. In addition we do agency and management. fixing pertomiances at venues and festivals
throughout the UK and beyond.
CMF Alumni tell us of the many ways CMF has helped them during the very fragile eady stages of their
profe$$ional careers, by helping them to develop their unique creative vision. and gaining recognition and
a neI￿Ork wthin the music industy.
Our aim is that CMF artists are ready for four de¢*Jes or more of o)ntributing to society's culture and
wellbeing - reaching hundreds of thousands of people through live perfomance, CDS, streaming.
broadcasts. leaching and mentoring - giving back a Ihousand fokl what CMF has gNen them.

City Muslc FOUnda￿On
Company R•gistor•d number:
Charity Rogisterad numbor:
08133744
1148641
This financial year August 2020 to Juty 2021 started and ended during the Covid-19 pandemic, and
induded being under lockdown for Large swathes of that time.
As ￿trIC￿On$ were rdieved during the late summer and autumn we were able to Irve. in *erson
auditions lo select our 8th intake of CMF artists in September 2020. We increased the number taken lo
10. the highest number ever. We had more applicants than ever before. and of an exceptional calibre
and selection was particularty difficult
We look three singers, which was also a first. and offered them a slKJhliy different approach in¢luding
artistic menlorirvj, as singers are unique in dealing with an instrument that g¢)8s on changing long after
they have completed edueabon at the conservatoires.
Mentorin9 and workshops wer8 programmed and laking Fla* as usual, although all were conducted on
zoom.
While restrictions were l￿jht8d. we were thrilw to curate and produce a performance in St Paul's
Cathedral, to a 'full' house Isocialty distanced and masked) of Messiaen's Quartet for the End of Time.
This achieved 5. reviews in the broadsheet arts pages, and the VKleo we made of11 has bean view
37.000 limes via Face8ook and 3000 tsmes on YouTube.
The 2019 artists had all performed in the previous Clo¢k Tower series of live Stream in the first half of
2020. The new intake of 2020 Artists perfo￿ed in a series in Barts Great Hall, through CMF'S new
partnership wrth Barts Heritage. January to April were live streamed with no audience, May lo June th&
with audience and livtrstream, and July onwards have been videoed and with full in-person audience$.
Number are slowAy returning lo pre-pandemK levels.
Other aclivilies have continued. including recording CDS. thlrd paty bookings have increased,
appearances on BBC Radio 3 InTune, r￿MiSsiOn1ng of new music, and websrtes.
The work of CMF, and the INes of our artists, have been aftered beyond recognition since March 2020,
bul as the financial year drew to a close in Juty 2021 things were starting to nomialise. CMF are using
the release from lockdown as an opportunty for our artists to reestablish their ¢areers, and for CMF to
re-arrange postponed concert and r&book third party work for our afts"sts. Many ol our artists have used
the time to develop their ski115 and repertoires. CMF'S support via the Hardship Fund was crucial.
The Mexican Intemalional Scholar due to join CMF in June-August 2020 was abl8 to join CMF from late
June lo earty August 2021 and had an immensety fruitrul and productive stay.
CMF secured fvnding from the Arts cou￿1 Cutture Recovery Fund. and donations have continued to
come in. CMF is in as gocxj a positi'on going forward as it could expecL

City Music Foundation
Company Rogistorod numb•r:
Charity Rogisterod numbor:
08133744
1148641
M•mbern of the Managem•nt Committee
Members of the Management Committee. who are the Directors for the purpose of Company law and
Trustees for the purpose of Chanty law, who served during the perir)J and up to the date of this report
are set out on page 1.
This report has been prepared in accordance the Statement of Recommended Practice ISORP)
applicable lo charities preparing their accounts in accordance the FRS 102 Section 1A and in
accordance with the special provisions of the COmpan￿S Act 2006 relakn.ng to smaller entsties.
Approved by the Management Committee on l*. Sfthj A.#....{date) and signed on its behalf.
Mr Alastair J
Director
n Naisbitt lQng

City Music Foundation
Accountants. Report
Indopondont Examln•fs report to th• tru8t••B of
Clty Muslc Foundatlon
Rospectlvo r•spon8lbllltle8 of trnslee8 and examlner
The trustees (who are also the directors of the company for the purposes of company lawl are
responsible for the preparation of the accounts. The tnjstees consider that an audit is not required
for this year undef section 144{2) of the CharIt￿S Act 2011 {Ihe 2011 Act) or under Regulation
10111{a) to (c) of The Charit￿5 Accounts {ScO￿and) Regulations 2006 (the 2006 AtLounl$
Regulations) and that an independent examination is needed. The charity is required by company
law to prepare accruèd ac£ounls and l am qualified lo undertake the examinats'on by being a
qualified member of The Institute of Charter&J Accountants in England and Wales.
Having satisfied myself that the charity is not subject to audit under ¢ompany L*v arKI 1$ eligible for
independent examination, it is my responsibilty to..
. examine the accounts under section 145 of the 2011 A¢t and se¢b'on 44(11{¢l of the
Charits'es and Trustee Investment IScotland} Act 2005 Ilhe 2005 Act).,
' follow the pr¢)cedures laid d¢)wn in the general DIrect￿n5 given by the Charity
Commission under section 14515}Ibl of the 2011 Act. and
. state whether particular matters have come lo my attention
Basls of Independent examlnerfs report
My examination was carried out in a¢￿dance with the general Directions given by the Charity
Commi$$ion and 1$ in accordance wth Regulats'on 11 of the Charities Accounts IScollarKII
Regulations 2006. An examination includes a review of the accounting records kept by the charty
and a comparison of Ihe accounts presented wih those reGord$. 11 also includes con$iderabon of
any unLrsual item8 or disclosure$ in the accounts, and seeking explanations from you as trustees
concerning any such matters. The procedures undertaken do not provide all the evidence that
would be required in an audrt and consequenty no opinion is given as to whether the accounts
present a 'lrue and fair view and the report is limited to those matters sel out in the statement
below.
Indepondont •xamln•rfs •tat•m•nt
In connection with my examination. no matter has CA)me to my attention..
111 which gives me reasonable cause to believe that in any material respect the requirements
' lo keep a¢ctsunting re￿rdS in aGcordance with section 386 of the Companies Act 20C6 and
section 44{11{a) of the 2005 AGt,' arKI
' lo prepare accounts which accord with the accounting records. o3mply with the a(%ountsng
requirements of the Companies Act 2006. 8e¢tion 4411}Ib) of the 2005 Act and Regulation 8 of the
2006 Accounts Regulatsons,. and
. which are consistent wth the methods and principles of the Statement of Re￿mmended
PraGlice knwunting and Repgrbng by Charits'es
have nol been met,. and
121 lo which, in my opinion, attention should be drawn in order to enab￿ a proper understanding of
the accounts lo be reached.
Mr Slmon Thomas BA FCCA KCA
Ridgefield Consulting Limited
2 Hinksey Court
Church Way
Oxford
OX2 9SX
07 December 2021

Clty Muslc Foundatlon
Statement Of Flnantlal AthIU¢s Iln¢ludlng Income & Expendlture Account)
for tho year 0nd0d 31 Juty 2021
2021
Unr•strl¢l•d Rsstrl¢t
2020
Total
Totsl
fund8
In¢omlng R•sourc•s
DOnat￿nS, Grants and Sponsorship
Legacy Funds and intsrest received
Events and Recuding Incom
186.713
37,374
77
224,087
215.421
300.009
24,743
18,569
205.282
18,569
242.733
37.451
Totsl RVou￿•S Expgnd•d
Officè Costs & Gov•mane•
Arti$ts' & Charitable Actsvths
Internabonal Artsst
Fundraising
Hardship Fund¥
12.550
118.079
8.029
17,330
12,550
155,453
8.029
17,330
11,231
121,045
150
15,054
11,435
158,915
37,374
155,988
37.374
193.362
InCom￿l*xP•n￿tUT•1 for th• y•*r
49.294
49.371
381,258
ToLg1 Fund• Brought FoN*rd
138.431
337.832
474.083
92.805
Totsl Funds Carrl•d Fotrw•nl
185,72S
337.709
523.434
474,063

City Music Foundation
Registered number:
Balance Shaat
a• at 31 July 2021
08133744
2021
Restrlcted
fund8
2020
Unr•slrlcled
funds
Totsl funds
Total funds
Current a8s•t8
Debtors
Cash at bank and in hand
860
526,655
527.515
188,946
337.709
337.709
476.921
476,921
Credltors: amount8 falllng du•
wlthin one year
{4,0811
{4.0811
{2,858)
Net a880ts
185,725
337.709
523,434
474,063
Funds
Unreslricled funds
Restn'cted funds
Totsl funds
185,725
337.709
523,434
136,431
337,632
474,063
The members are satisfied that the company is entilled to exemption frijm the requirement to obtain an
audit under section 477 of the Companies A¢1 2006.
The members have not required the company to obtaln an audit in aco)rdance section 476 of the
The directors acknowledge their responsibiliti'es for complwng with the requirements of the Companles
Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delNered in a¢¢ordan¢e vith the $pe¢ial provisions applicab18 to
companie5 subject lo the small companies regime. The profil and account has not been delNered
to the Registrar of Companies.
Mr Alastair John Nai$bitt King
Director
Approved by the board on .1.4.Jfvl..74..IF....Idate)

City Muslc Foundation
Notes to tha Accounts
for the year ended 31 July 2021
1 A¢¢ountlng pollcl
Basls of prvpaTrtlon
The accounts have been prepa￿ under the historical cost ￿nVention and in ac￿rdance vith FRS
102, The Financial RepcKtin9 Standard applicable in the UK and Republic of Ireland las applied to
Small entities by wtion 1A of the standard).
FundA¢countln9
Unrestri¢ted funds are available lor use at the discretion of tre truslees in fvrtherance of the general
objectives of the charity.
Designated fvnds are unTrstri¢ted fvnds earmarked by the Management Committee for parb'cular
purposes.
Reslri¢led funds a￿ subject to ￿trIctIonS on thelr expendrture imposed ty the donor or Ihrough the
tenns of an appeal.
Incomlng Rosour¢
All incoming resources a￿ included in the statement of financial activite$ wthen the charity enti118d
to, 8nd virtualty certain to receive. the income and the amount can be quantified with reasonable
accuracy.
R￿Our¢8$ EXp￿ded
Expenditure ts recognised on an accruals basis as a liabilty is irKurred and is rewrted a$ part of the
expenditure lo which it relates..
"Costs of generating funds comprise the costs associated with attradng voluntary income.
'Charitable donations to other organisations.
"Charitable expenditure comprises those costs incurred by the charity in tha delivery of Its
activities and services for its beneficiaries.
'Govemance costs indude those as$c¢iated with meeting the constitutional and statutory
requirements of the charty.
2 Donatlom, Grnnts and Sponsornhlp
2021
Unmtrktgd Ro8trlcted
2020
Total
InGom• typo
Total
Donations
Grants
Total
158,461
28.252
186.713
20,474
16,900
37,374
178,935
45.152
224.087
148,721
66,700
215.421
In 2020, £28,226 of donats'ons and £30.700 of grants are restricted.
Legacy funds is a rectricled donation for speafc capital projects which have been delayed
because of Covid-19. Interest retyved in the year was £77.

Clty Muslc Foundation
Notes to the Accounts
for the year anded 31 Juty 2021
3 Office and Governance costss
2021
2020
Independent Accounts Examination
staff Costs and Payroll
Office Costs
3,096
8,138
1,318
12.550
3,198
6,512
1,521
11,231
4 Artlsl and Charltabh actlvltle•
2021
2020
CMF Events
Playing and Perfomances
Professional Development Workshops and
Mentoring Programmes
Artists Individual Projects
Auditions and Selection of Artists
Promotional Tools For Artists
Staff Costs & Payroll
Office Costs
930
28.321
28.987
3,177
22.851
2,332
14.451
74.167
9.224
155.453
1.942
8.297
900
9.709
61,118
10,648
121,045
3 Fundrdlslng
2021
2020
Staff Costs & Payroll
Office Costs
14,694
2,636
11,g72
3,082
15,054
8 Employees
2021
Nurn￿r
2020
Numbgr
Average number of persons employed by the company
7 Debtor*
2021
2020
Income. Donats'ons and Sponsorship
860
8 Credltorn: amounts falllng due wlthln one year
2021
2020
Taxation and social security costs
Accruals and pensions
1.431
2,650
4,081
2,858
2,858

Clty Muslc Foundation
Notes to the Accounts
for the year ended 31 July 2021
9 Other Informatlon
Crty Musrc Foundation is a prI￿81e company limited by guarantee and ￿rporated in England. Its
registered office is..
Church House
Cloth Fair
London
EC1A 7JQ