REGISTERED CHARITY NUMBER: 1161303 TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 01 APR 2020 TO 31 MAR 2021 FOR PROJECT INSTRUMENTAL ## PROJECT INSTRUMENTAL Flat 11 Eve House 6 St Luke’s Mews London E14 8GT +44 7590 501118 hello@projectinstrumental.org projectinstrumental.org Registered Charity No.1161303 TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS CONTENTS Objectives & Activities ………………….……. 3 Achievements & Performance …………….…. 3 - 4 Financial Review & Statements ...................... 4 Profit & Loss ……………………….…… 5 Cash Flow Statement …………….……. 6 Balance Sheet …………………………. 7 Structure, Governance & Management …….. 8 Reference & Administrative Details ………….. 8 Declarations ………………………………….. 9 TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2020 TO 31 MAR 2021 ## ~~Objectives & Activities~~ The purposes of the charity, as set out in the constitution, are to advance the arts for the public benefit by presenting high quality, affordable music events to the general public from our base in East London and extending across the UK, in particular, but not exclusively, in venues and areas where access to and performances of such music is rare or unusual. Described as “simply knockout” (Alex Julyan, Wellcome Trust Fellow) and a Time Out London Critic’s Choice, Project Instrumental brings thrilling performances to unbounded audiences. Instrument-inspired, rather than genre-led, the group evolves around a core of strings and what can be done with them, across genres and instrumental combinations, to create truly enlivening performances, for anyone. Bold, imaginative and boundary defying, this virtuosic group strips back the peripherals with their straightforward contemporary approach to, to create not just concerts, but experiences. ## Achievements & Performance The main areas of activity are concerts, educational and outreach activities, especially where these provide a new and unique musical experience for the audience and/or participators, and recording sessions. The Trustees have paid due regard to the guidance issued by the Charity Commission on public benefit and fee charging in planning our activities. The majority of planned activities were cancelled or curtailed by the Covid-19 pandemic and lockdowns this financial year, yet have included: ## Libera: online & Christmas concerts An online video stream and live concert at St John’s Smith Square in an ongoing partnership providing strings for the UK concerts of boys’ choir Libera - a registered charity whose well received musical output has an international reach. ## Album Recording: Libera Recording Libera’s new album, _if_ , released October 2021. 3 TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2020 TO 31 MAR 2021 ## ~~Studio Recording: Bobbie-Jane Gardner~~ Recording new works by Bobbie-Jane Gardner for an intergenerational community project in Birmingham. ## Financial Review & Statements Total income for the financial year ending 31 Mar 2021 amounted to £4,319. Total operating expenses were £3,910. Net profit was £409. At the end of the financial year, cash in bank made up net assets of £452. The charity’s principal sources of funds for the financial year were via performance fees for recordings and concerts. The biggest expenditure is payments to musicians and composers. The Trustees are encouraging a strategy of balancing accessible low cost/free and participatory events, which are an important part of Project Instrumental’s provision but tend not to cover their costs, with fee-paying partnerships and projects, such as recording sessions, existing concert series and productions, to support the operating expenses of the orchestra and sustain our charitable and artistic goals. We have continued to develop our donations scheme and sought to minimise expenditure by taking up the offer of free rehearsal space when this is available. As a registered charity, Project Instrumental does not attempt to generate profits, however reserves are needed to bridge the gap between the spending and receiving of resources, to cover unplanned expenditure and make up musicians fees in order to continue its charitable work. 4 TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2020 TO 31 MAR 2021 ## Project Instrumental ## Profit and Loss Basis: Accrual From 01 Apr 2020 To 31 Mar 2021 |**Account**|**Total**| |---|---| |Operating Income
Contributions
Donations
Gift Aid
**Total for Contributions**
Performance Fees|0.00
653.75
47.50
701.25
3,618.10| |**Total Operating Income**|4,319.35| |Cost of Goods Sold|| |**Total Cost of Goods Sold**|0.00| |**Gross Profit**
Operating Expense
Accountancy & Bookkeeping
Admin & Office Running
IT and Internet Expenses
Postage
**Total for Admin & Office Running**
Bank Fees and Charges
Fees & Wages
Artist Fees
**Total for Fees & Wages**
Meals and Entertainment
Musicians Refreshments
**Total for Meals and Entertainment**|**4,319.35**| ||60.00
0.00
196.19
6.57
202.76
4.00
0.00
3,620.10
3,620.10
0.00
23.03
23.03| |**Total Operating Expense**|3,909.89| |**Operating Profit**
Non Operating Income|**409.46**| ||| |**Total Non Operating Income**|0.00| |Non Operating Expense|| |**Total Non Operating Expense**|0.00| |**Net Profit/Loss**|**409.46**| **Amount is displayed in your base currency **GBP** 5 TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2020 TO 31 MAR 2021 ## Project Instrumental ## Cash Flow Statement From 01 Apr 2020 To 31 Mar 2021 |**Account**|**Total**| |---|---| |**Beginning Cash Balance**|**42.61**| |**Cash Flow from Operating Activities**|| |Net Income|409.46| |**Net cash provided by Operating Activities**|**409.46**| |**Cash Flow from Investing Activities**|| |**Net cash provided by Investing Activities**|**0.00**| |**Cash Flow from Financing Activities**|| |**Net cash provided by Financing Activities**|**0.00**| ||| |**Net Change in cash**|**409.46**| ||| |**Ending Cash Balance**|**452.07**| **Amount is displayed in your base currency **GBP** 6 TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2020 TO 31 MAR 2021 ## Project Instrumental ## Balance Sheet Basis: Accrual As of 31 Mar 2021 |**Account**|**Total**| |---|---| |**Current Assets**
Bank
PI Paypal
PI Tide
~~**ASSETS**~~|51.25
400.82| ||452.07| |Total Current Assets|**452.07**| |TOTAL ASSETS|**452.07**| |**Liabilities**
**Current Liabilities**
Unearned Revenue
~~**LIABILITIES & EQUITIES**~~|0.01| |Total Current Liabilities|**0.01**| |Total Liabilities|**0.01**| |**Equities**
Current Year Earnings
Other Contributions
Retained Earnings|409.46
4,823.71
-4,781.11| |Total Equities|**452.06**| |TOTAL LIABILITIES & EQUITIES|**452.07**| **Amount is displayed in your base currency **GBP** 7 TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2020 TO 31 MAR 2021 ## ~~Structure, Governance & Management~~ PI is a Charitable Incorporated Organisation (CIO) governed by its constitution adopted on the 16 Apr 2015. The appointed trustees actively encourage and seek to identify appropriate persons to join the CIO as trustees. Trustees are provided with a copy of the constitution and the latest CIO’s Trustees Annual Report and Accounts. Appropriate induction is provided to enable any new trustee to fulfill their duties. The charity trustees manage the affairs of the CIO in accordance with their powers as set out in the governing constitution. There must at all times be at least two charity trustees with a maximum number of twelve. The trustees meet quarterly to discuss aspects of the affairs of the CIO. Day-to-day management of the charity is delegated to Harri Allan, who acts in a voluntary capacity as Creative Director. The charity also relies upon volunteers from time to time. ## Reference & Administrative Details Charity name: Project Instrumental Other name the charity uses: PI Charity registration number: 1161303 Charity’s principal address: Flat 11 Eve House, 6 St Luke’s Mews, London E14 8GT Names of the charity trustees who manage the charity: Neil Franks Mairi Johnson Jefferson Morgan 8 TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2020 TO 31 MAR 2021 ## Declarations The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees. Signature: Full name: Neil Franks Position: Trustee Date: 30 Jan 2022 9