CONSTELLA MUSIC CHARITY REG. 1154859 UNAUDITED FINANCIAL STATEMENTS AND TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024
Charity Reg.. 1154859 CONSTELLA MUSIC CONTENTS Page Reference and administrative details of the charity. its trustees and advisers Trustees, report 4-13 Independent examiner's report 14 Statement of financial activities 15 Balan sheet 16 Notes to the financial statements 17-22
CONSTELLA MUSIC REFERENCE AND ADMINISTRATIVE DETAILS OF CONSTELLA MUSIC, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Mr Stuart Wilson, Trustee Chair Ms Clare Coulter (appointed 0510612024) Ms Yesim Gozen Ms Veronika Kamplade Prof. Daniel Leech-wilkinson Mr Sebastian Lovell-Huckle Mr Nick Whillis (appointed 2710312024) Charity registered number Constella Music 1154859 Principal office Somerset House Exchange Strand London WC2R 1LA Senior Management Team Leo Geyer. Artistic and Executive Director Nathalie De Potter, Managing Director Independent Examiner of Financial Statements Ms Chaweevan Williams FCCA Verdant Accountants Limited Chartered Certified Accountants 20-22 Wenlock Road London Nl 7GU
CONSTELLA MUSIC TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2023. Objectives and Activities POLICIES AND OBJECTIVES The advancement of and the education of young persons and the public at large in the arts, culture and heritsge, in particular. but not exclusively. in music. dance and theatre. This will be done in such ways as the charity trustees think fit. including (but not exclusively) by: promoting and encouraging the synergy of opera, ballet and theatre. promoting and encouraging works that will re-imagine opera and ballet for the 21st century" developing and commissioning new works of merit in music. opera. ballet and theatre and reinterpreting works to extend our understanding of human endeavour. encouraging and providing opportunities to enable artists to generate exceptional creative interpretations so as to open up new possibilities and experiences for the public at large., providing an opportunity for young artists across the UK to showcase their talent and gain training, experience and exposure needed to establish a career in the arts and produce works of a high standard. assisting others with a charitable objective in the education of persons (primarily young persons or who are otherwise attending full time education courses) by developing their artistic training. skills and expertise so as to prepare those persons for entry to a career in the arts on leaving their educational establishment., engaging today's diverse aUdIenS by promoting the incorporation of their cultures and heritage in artistic works for new creativity and inclusion. developing and sustaining audiences for artistic works through digital platforms and outreach work. ACTIVITIES FOR ACHIEVING OBJECTIVES The past year has been transfomiational for Constella. the company formally changed its name from Constella OperaBallet to Constella Music. to better reflect the broader remit of the work it engages in. Constella Music publishes and perfomis Leo Geyer's work spanning opera. dance, film. concert music and acts as a production company for his portfolio. The driving energy behind the company continues be hamessing the expressive power of music for social good.
CONSTELLA MUSIC TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Performing Activity Constella has celebrated its 1 Oth anniversary with a perf0rrnan in the Lilian Bayliss theatre. Sadler's Wells. The programme included a number of stage premieres of work composed by Leo Geyer as well as re-imaginings of other pieces, including: World premiere of London Portraits. a 20 minute opera-ballet scored for piano and voice, with music and text by Leo Geyer. Comprising of four vignettes. the poetry articulates the joys and struggles of city life- the inescapable busy-ness, commuting. loneliness in a crowd, the architectural beauty and the trials, tribulations and joys of love. The music fuses contemporary classical music with jazz while the new choreography by Taira Foo. brings together influences of ballet and street dance. This unique artistic fusion presented contemporary opera-ballet as a relevant. engaging and dramatic art form for today's audiences. Water Boatman for double-bass and loop pedal was originally commissioned by the Musician's Company and a recording was featured on BBC news. It was performed live for the first time by internationally renowned double bass player Toby Hughes The second half of the programme reflected Geyer's journey researching the music of the Holocaust. Blackbird, commissioned in memory of Holocaust historian Sir Martin Gilbert, for baritone and clarinet, violin and cello was performed by Simon Wallfisch, grandson of orchestras of Auschwitz survivor Anita Lasker-wallfisch. The performance concluded with excerpts from the new opera-ballet the Orchestras of Auschwitz, featuring music written in the concentration camp. This work received international press attention and was featured on IT%1 news the same evening. In February Constella performed at the Science Museum Lates with a concert celebrating the Chinese Clocks exhibition. The performance by strings and guzheng or Chinese zither, showcased a thrilling and diverse collection of clock-inspired music as well as a specially commissioned piece of music by Leo Geyer based on the melodies of the musical clocks. Other notable projects where Geyerfs music was performed included: World premiere of the re-orchestration of Bizet's Carmen for small orchestra performed at the Waterpery Opera Festival. Inspired by the mystic bird. Phoenix. an explosive fanfare published by Constella Music, was performed by the Hepworth brass band. Opera Holland Park presented Geyer's re-imagining of Mozart's Cosi Fan Tutte to patients and staff at the Chelsea and Westminster Hospital. This piece. first commissioned by Baseless Fabric theatre in collaboration with Jo Tumer. was a finalist for the Offies Best Opera Production in 2018. Finally, the brilliant Elmore String Quartet gave the world premiere of Unfurling, based on the unravelling of a fern, at London's Kings Place. Other Projects Other projects Constella Music has been involved in this year include the restoration of the live cinema orchestra score for the seminal Ukrainian film 'Man with a Movie Camera,. this major piece of work is near completion and the music score is scheduled to be performed for the first time at an intemational film festival in autumn 2024.
CONSTELLA MUSIC TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Following the intemational news coverage about the restoration of the music found in the archives of the Auschwitz-Birkenau Holocaust museum. Constella has launched a major fundraising drive to produce a full length opera-ballet 'The Orchestras of Auschwitz.. We have secured the participation of a renowned Jewish-American choreographer and are looking to perform the work for the first time in 2025. Constella's ambition - based on engagements and discussions with stakeholders abroad - is to organise a domestic and international tour with the production. Leo Geyerfs compositions are now managed by Constella Music and published on Nkoda. Outreach Activity Connecting Stars, Constella's major outreach programme brining live access to high quality culture to care home residents across the UK now in its 4" year. is now well established and continues to be a success. Connecting Stars has earned the company the award for 'Most Innovative Performing Arts Organisation. in the Acquisition Intemational Non-Profit Awards. and 'Performing Arts NPO of the Year, for the CorporateLiveWire Global Awards. In its endeavour to bring the arts to all audiences, the company eMbrad the possibilities of digital technology to launch Connecting Stars in 2020. This bespoke interactive perfomiance programme allows care home residents to directly engage with professional musicians and dancers. Connecting Stars continues to delight care home audiences across the UK, while providing a training programme for emerging and student artists. Over four years. we have perfected our performance practice to ensure the best quality experience for care home audiences. collaborated with over 100 care homes, and delivered nearly 2,000 performances. Our model overcomes barriers to access and achieves positive impact for care home residents via" A diverse menu of perfomiance - Music and dance easily lends itself to participation. evokes memories of residents, youth and has universal appeal. Our musicians and dancers take requests from residents and perform classical, jazz. folk, filmic and popular music. Built-in social interaction - We broadcast to one care home at a time enabling residents to have a meaningful and personal engagement with artists. This shared experience also helps to foster social bonds between residents that remain after the performance is complete. Low cost and environmentally friendly- Virtual performan is cost-effective and eliminates the need for travel. To deliver Connecting Stars in person and reach the same number of care home residents would require a budget at least four times greater. Residents who do not have the mobility to travel to theatres or arts venues and care homes situated in rural areas are able to take part. An independent evaluation of Connecting Stars in 2022 found that 680/0 of care home Activity Managers reported that the activity was almost universally liked and made a significant positive difference to residents, while 980/0 felt that the activity had at least some beneficial impact. Age UK'S Index of Wellbeing in Later Life found that of 40 factors positively contributing to wellbeing amongst older people the factor with the single greatest impact was
CONSTELLA MUSIC TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 'creative and cultural participation.. This rated more highly than physical activities. having friends or owning a home. We have continued our partnership with Community Integrated Care, a large UK-wide charity which provides care and assisted living support for the elderly. disabled and those with long-term health conditions. They have been running a virtual activity programme called "What to Do and Constella provides participatory music and dance workshops in "massed virtual activities" with up to 800 people per session. Originally launched for special occasions. our group perfornianS- open to all care homes - have become so popular we now organise them once or twice each month. They provide a great opportunity for care homes to enjoy a themed performance by 2 Constella artists. A number of Scottish and Welsh care homes have signed up to regular Connecting Stars performances. thanks to well received Bums Night and Welsh National Day performances by Constella's Scottish and Welsh artists. Our care homes can see how residents of other care homes enjoy the perforManS and they are a great introduction for care homes interested in joining the programme. Our emerging artists training programme has been very successful and continues to be managed by our directors of music learning and dance leaming. The programme consists of four stages, beginning with a virtual workshop for either dance or music, followed by watching a relevant Connecting Stars perforrnan. perform side by side with a professional artist and an opportunity to perform solo. monitored by the director of either dance or music learning. In 2023-2024 we have mentored 3 artists and now have a total of 9 emerging artists in our roster. This mentoring programme has also contributed to further expanding our roster with artists from diverse backgrounds. resulting in more meaningful engagement with our audiences. We also continue our commitment to equal and fair pay.
CONSTELLA MUSIC TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITYS PURPOSES FOR PUBLIC BENEFIT As above. The Trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity. THE DIFFERENCE THE CHARITY'S PERFORMANCE DURING THE PERIOD HAS MADE TO THE BENEFICIARIES OF THE CHARITY Connecting Stars continues to delight care home residents across the UK, not only does it provide easy access to high quality performing arts, but the live and interactive nature of each performance actively engages the residents. Participatory arts have been shown to be one of the most impactful ways of boosting wellbeing and alleviating social isolation for older people. Age UK'S Index of Wellbeing in Later Life found that of 40 factors positively contributing to wellbeing amongst older people the factor with the single greatest impact was 'creative and cultural participation,. This rated more highly than physical activities, having friends or owning a home. However, barriers to aCss. cost and the logistics of transport often prevent care home residents from ever accessing the arts and experiencing these benefits., an issue which has only been amplified during and following the pandemic. Over almost four years, we have perfected our performance practice to ensure the best quality experience for care home audiences, collaborated with over 100 care homes, and delivered more than 2,000 performances. Each care home receives a feedback form after every performance and our Directors of Music and Dance continue to monitor the quality of the perfomiances by all artists on a regular basis. Feedback continues to be overwhelmingly positive. In parallel the company has been actively reaching out to performing arts students of diverse backgrounds, offering them mentoring and performan opportunities. The artists who successfully complete the programme are offered a place as emerging artist on the Connecting Stars project. Our performance at the Science Museum Lates. as part of the Chinese Clocks exhibition, reached a broad and diverse audien of all ages. entran was free to the audience. th Constella's 10 Anniversary in November 2023, was well received. In particular the presentation of the story about Leo Geyer's research into music found in the archives of Auschwitz-Birkenau and the performance of a number of short excerpts restored, received worldwide press attention and was featured on ITV news.
CONSTELLA MUSIC TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perforniance REVIEW OF ACTIVITIES As stated above, Constella thrived this accounting year by providing meaningful work to its core group of artists and making a difference to the lives of care home residents. The company also evolved to embrace the possibilities of digital performance and engagement, whilst managing to maintain the community participation element. FUNDRAISING ACTIVITIES Arts Council England remains the biggest funder of Connecting Stars and without them we would not be able to keep engaging our care home audiences in a meaningful way. We recognise the need to diversify our income streams. Despite investing significant effort to secure match fvnding for Connecting Stars with the help of a fundraising consultant, it has proven a real challenge. and we only secured one successful grant from the Samuel Gardner Memorial Trust. for which we are very grateful. We realised we needed to rethink the business model to make the project financially sustainable and at the same time find a way to reduce the number of 'no-shows' or last- minute cancellations by care homes. The company. supported by the board. decided to introduce a small membership fee- equivalent to the cost of just one performance - for care homes in order to generate some income to help raise match funding for arts council applications. The membership allows care homes to book one performance a week for 6 months. Monthly group performances remain free to all care homes across the UK and do not require membership. Following an initial reluctance by care homes to commit to becoming a member. this has now stabilised and we had new care homes join and the loyalty of the care homes that are part of the scheme has increased with a significant reduction in the number of late CanlIations. We also actively engage and offer a solution to those care homes that want their residents to enjoy the performances but do not have the financial means to pay the membership fee. We are also grateful to the 'Pico Players,. who raised donations for Connecting Stars in their March Concert. Following the launch of our fundraising activity to produce 'The Orchestras of Auschwitz" the company is delighted to have been given a grant of £15,000 towards its development by the Cockayne Foundation. Significant efforts by the team to build relationships with potential supporters are starting to generate support and we have received a pledge of a further £20,000 in addition to individual donations reIVed following our 10" anniversary performance. Constella Music is also very grateful to the Foyle Foundation who have continued their support and awarded the company £5.000 towards core funding in May 2024.
CONSTELLA MUSIC TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 STRATEGIES FOR ACHIEVING AIMS AND OBJECTIVES IN THE FUTURE Constella Music is focussed on keeping the momentum it gathered 2023-2024 going. At a high level this means to continue Connecting Stars, focus on bringing one major new production to the stage within the next 18 months while working on a steadily increasing of smaller commissions, including new compositions. small scale performances. From an outreach perspective one of the main objectives is to continue securing the future of Connecting Stars. This means we can continue to not only engage care home residents and their carers across the UK in high quality live music and dance performances but also provide training and performing opportunities to young professional artists. As mentioned in previous section, the major focus of the company now is to develop its full stage production of 'The Orchestras of Auschwitz.. This production requires significant funding has been and continues to be a focus. In terms of smaller fee eaming commissions, in July 2024 Constella will partner with the Courtauld Gallery to make a performance recording to accompany their Henry Moore Shadows on the Wall exhibition. The company is also actively working on several new proposals for performance with an outreach element. 10
CONSTELLA MUSIC TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Financial review GOING CONCERN After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to 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 concern basis can be found in the Accounting Policies. FINANCIAL POSITION AT THE END OF THE PERIOD ENDED 31 MARCH 2024 Constella's financial position at year end shows a healthy funds balance of £38,650 which includes £31,122 of restricted funding for Connecting Stars and the development of the Orchestras of Auschwitz stage production. Constella has already submitted a new application for another project grant for Connecting Stars for £27.00 with Arts Council England. which - if successful - will enable the continuation of the programme until late autumn 2024. In addition. the company is focussing on fundraising for the Orchestras of Auschwitz. Unrestricted funds remain similar and amount to £7.528 in 2024 compared to £7.609 in 2023, this is made up of fee income and donations. RESERVES POLICY The reserves shown - excluding restricted reserves for Connecting Stars - are small, but the overheads of the charity are equally small. and projects are only undertaken when funding is identified and confirmed. It is worth noting that Constella has been awarded £5,000 towards core funding from the Foyle Foundation in May 2024. The Trustees are committed to increasing reserves going forward. The charity's financial position has been stable with uninterrupted funding.
CONSTELLA MUSIC TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management CONSTITUTION The Charity is a charitable incorporated organisation governed by its constitution on 19 June 2019. It was registered as a charity with the Charity Commission on 4th December 2013 with number 1154859. th METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The methods used to recruit and appoint new charity trustees is as follows: Identification for a new trustee either due to resignation or the need for specialist experience and knowledge Based on the criteria above. trustees will consider the best method to short-list suitable and diverse candidates. Short-listing and interviews take place against agreed criteria. Interviews are carried out by a small panel of trustees, and each candidate is asked similar questions to ensure a fair and objective approach. Notes are kept of each interview. Chosen Candidate is given a copy of the constitution and most recent report to read. Candidate is invited to a trustee meeting, whereby the trustees check that the candidates have not been disqualified from acting as trustees. or have a conflict of interest. and any additional questions are resolved. Trustees are appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees (clause 10.1 of the constitution) and trustee details are filed with the Charities Commission. It should be noted that the trustees do not receive any form of remuneration or payment from Constella. Only reasonable expenses, incurred when attending meetings and workshops for Constella. are reimbursed based on receipts. TRUSTEES, RESPONSIBILITIES STATEMENT The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practi). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements 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 of the charity for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently observe the methods and principles in the Charities SORP make judgments and accounting estimates that are reasonable and prudent prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) 12
CONSTELLA MUSIC TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Regulations 2008 and the provisions of the constitution. 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. In line with section 145 of Charities Act 2011. the trustees have re-appointed Ms Chaweevan Williams. FCCA from Verdant Accountants Limited. as independent examiner for this accounting year. This report was approved by the Trustees. on the 31" July 2024 and signed on their behalf by: Docusigned by.. 43EE13BAD5084FF... Mr Stuart Wilson Date: 31 July 2024 13
CONSTELLA MUSIC INDEPENDENT EXAMINER'S REPORT Independent examiner's report to the trustees of Constella Music I report to the trustees on my examination of the accounts of Constella Music ('the Charity,) for the year ended 31 March 2024. Responsibilities and basis of report As the charity trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act, and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Charity as required by section 130 of the Act., or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. Signature Date: 31 July 2024 Svjned by. 332A14308)4l.. Chaweevan Williams FCCA Verdant Accountants Ltd Chartered Certified Accountants 20-22 Wenlock Road London Nl 7GU 14
CONSTELLA MUSIC STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED MARCH 312024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note INCOME FROM Donations and grants 13.164 69,483 82.647 57,471 Charitable Activities 10,990 525 11.515 1,895 Investment- Bank Interest 3b 27 24,154 Total Income 70,008 94,162 59,366 EXPENDITURE ON Charitable Activities 24,235 24,235 52,945 52,945 77.180 77,180 59,680 59,680 TOTAL EXPENDITURE Net Expenditure before other recognised gains and losses Net movement in funds (81) 17.063 16,982 (314) RECONCILITATION OF FUNDS Total funds brought forward 7.609 14.059 21.668 21,982 TOTAL FUNDS CARRIED FORWARD 7,528 31,122 38,650 21,668
CONSTELLA MUSIC BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note CURRENT ASSETS Debtors Cash at bank in hand 4,236 35,109 39,345 20.173 7.374 27,547 CREDITORS Amounts falling due in one year NET CURRENT ASSETS NET ASSETS 695 5,879 38,650 38,650 21.668 21.668 CHARITY FUNDS Restricted Funds Unrestricted Funds TOTAL FUNDS 31.122 7,528 38,650 14.059 7.610 21,668 The financial statements were approved by the Trustees on and signed on their behalf, by: Docusigned by.. 43EE13BAD5084FF.. Mr Stuart Wilson, Trustee Date: 31 July 2024 The notes on pages 17 to 22 form part of these financial statements 16
CONSTELLA MUSIC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES 1.1 Basis of preparation of financial statements The financial ststements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This departure has involved following the Charities SORP (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011. Constella OperaBallet constitutes a public benefit entity as defined by FRS 102. The accounts are prepared on a going concern basis. The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. This is on the basis that expenses are committed to after committed funding is in pla. 1.2 Income All income is recognised once the charity has entitlement to the income. it is probable that the income will be received and the amount of income receivable can be measured reliably. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 1.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. it 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 activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of reSoUrs. Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Charitable activities and Governance costs are costs incurred on the charity's 17
CONSTELLA MUSIC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 operations, including support costs and costs relating to the govemance of the charity apportioned to charitable activities. 1.4 Interest re1vable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. 1.5 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.6 Cash at Bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.7 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or seNices it must provide. Provisions are measured at the best estimate of the 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 rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. 1.8 Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.9 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 18
CONSTELLA MUSIC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2. INCOME FROM DONATIONS AND LEGACIES Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 INCOME FROM Donations (incl. GiftAid) Grants Total Income 13.164 13.164 69,483 82,647 4,137 53,334 57,471 69.483 69,483 13,164 Restricted funds to the amount of £54,484 have been awarded by Arts Council England for Connecting Stars related expenditure only. Constella received a grant of £15,000 from the Cockayne Foundation to for its Orchestras of Auschwitz project. A grant of £1.000 was awarded by the Samuel Gardner Memorial Trust. A management team member provided a contingent loan of £10,000 to assist with the initial funding of a project. This loan is only repayable when rtain conditions have been met. At the year-end these conditions had not been met so the loan is not shown as a liability. 3. INCOME FROM CHARITABLE ACTIVITIES Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total fund 2023 Income from charitable activities Investment - Bank Interest Orchestra Tax Relief 6.727 27 4.236 10,990 525 7,252 1,89, 4,236 11,488 525 1,89 4. ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES BY TYPE OF INCOME Total funds 2024 Total funds 2023 Fees 7.279 1.895 7,279 1,895 19
CONSTELLA MUSIC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 5. EXPENDITURE CHARITABLE ACTIVITIES Outreach Productions Total 2024 Total 2023 Performance Fees Production Costs 19.325 21.917 9,160 21,701 28,485 43,618 34,870 15,156 41,242 30,861 72,103 50,026 Note.. Connecting Stars direct costs included in outreach (perfOmianS and production costs), SUPPORT COSTS Total 2024 Total 2023 Management Administration Independent Examination Fee Marketing and Business Development Sundry expenses SOfare Finance & Insuran 1,948 1,134 780 1,988 480 4,924 360 1,366 536 9,654 59,680 16 1,199 5,077 77,180 TOTAL COSTS 6. BALANCE SHEET: RESTRICTED AND UNRESTRICTED Restricted 2024 Unrestricted 2024 Restricted 2023 Unrestricted 2023 Debtors Cash At Bank Creditors 4,236 3,292 20,073 100 7,374 31.817 695 31.122 5,878 14.195 7.528 7,474 20
CONSTELLA MUSIC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 7. DEBTORS Total 2024 Total 2023 Orchestra Tax Relief Fees Arts Council 4.236 100 20,073 20,173 4,236 Orchestra Tax relief expected to be received after submission of the corporate tax retum. 8. CREDITORS: Amounts falling due within one year Total 2024 Total 2023 Trade creditors Accruals 3,739 2,140 5,879 695 Total 695 Accruals are all related to artist fees outstanding for Connecting Stars. paid in April 2024. 21
CONSTELLA MUSIC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 9. STATEMENT OF FUNDS STATEMENT OF FUNDS CURRENTYEAR Balance at 31 March 2023 Income Expenditure Balance at 31 March 2024 Restricted Funds (52,945) 14,059 70,008 31,122 Unrestricted Funds (24,235) 7,609 21,668 24,154 94,162 7,528 38,650 General Funds (77,180) Restricted fund balance.. Connecting Stars and Orchestras of Auschwitz (Cockayne Foundation) STATEMENT OF FUNDS PRIOR YEAR Balance at 31 March 2022 Income Expenditure Balance at 31 March 2023 Restricted Funds 19.478 43.834 (49,253) 14,059 Unrestricted Funds 2,504 21,982 15,532 59,366 10,427 (59,680) 7,609 21,668 General Funds 10. RELATED PARTIES TRANSACTIONS Trustee donations amounted to £120. A management team member provided a contingent loan of £10,000. The loan is only repayable when rtain conditions have been met. At the year-end date these conditions had not been met and so the loan is not shown as a liability. There have been no trustee remunerations or trustee expenses in this accounting year, in line with previous accounting years. 22