REGISTERED CHARITY NUMBER: 1161303
TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 01 APR 2024 TO 31 MAR 2025
FOR
PROJECT INSTRUMENTAL
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PROJECT INSTRUMENTAL
hello@projectinstrumental.org projectinstrumental.org
Registered Charity No.1161303
TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS CONTENTS
Contents
Objectives & Activities ............................................................ 3 Achievements & Performance ................................................ 3 Financial Review & Statements ............................................... 4 Profit & Loss .......................................................................... 5 Cash Flow ............................................................................. 6 Balance Sheet ....................................................................... 7 Structure, Governance & Management ................................... 9 Reference & Administrative Details ......................................... 9 Declarations ........................................................................ 10
TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2024 TO 31 MAR 2025
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 genreled, 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 creative group strips back the peripherals with their straightforward contemporary approach, 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, which this financial year have included:
Libera
Performances at Sinfonia Smith Square and Ely Cathedral 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.
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TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2024 TO 31 MAR 2025
Album Launch
Strings for the launch of eponymous debut album release by independent artists Laurelai .
Recordings: Libera
Video and audio recordings for Libera’s latest album Dreams .
Financial Review & Statements
Total income for the financial year ending 31 Mar 2025 amounted to £0. Total operating expenses were £146. Net loss was £146. At the end of the financial year, cash in bank made up net assets of £65.
In prior years, the charity’s principal sources of funds have been performance fees for recordings and concerts, with the largest expenditure being payments to musicians. The activities coordinated by the charity in the current financial year did not generate income through the charity’s accounts. For these activities, musicians invoiced and were paid by clients directly. As a result, the associated performance fees and musician payments did not pass through the charity’s accounts and are not reflected in the figures above.
In general, 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 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 to support delivery of our charitable activities.
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TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2024 TO 31 MAR 2025
Project Instrumental Profit & Loss
Profit and Loss
Basis: Accrual
From 01 Apr 2024 To 31 Mar 2025
| Account | Total | |
|---|---|---|
| Operating Income | ||
| Total for Operating Income | 0.00 | |
| Cost of Goods Sold | ||
| Total for Cost of Goods Sold | 0.00 | |
| Gross Profit | 0.00 | |
| Operating Expense | ||
| Accountancy & Bookkeeping | 82.80 | |
| Admin & Office Running | 0.00 | |
| IT and Internet Expenses | 63.80 | |
| Total for Admin & Office Running | 63.80 | |
| Total for Operating Expense | 146.60 | |
| Operating Profit | -146.60 | |
| Non Operating Income | ||
| Total for Non Operating Income | 0.00 | |
| Non Operating Expense | ||
| Total for Non Operating Expense | 0.00 | |
| Net Profit/Loss | -146.60 |
Amount is displayed in your base currency GBP**
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TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2024 TO 31 MAR 2025
Project Instrumental Cash Flow
Cash Flow Statement
From 01 Apr 2024 To 31 Mar 2025
| Account | Total |
|---|---|
| Beginning Cash Balance | 65.00 |
| Cash Flow from Operating Activities | |
| Net Income | -146.60 |
| Non-cash adjustments | |
| Non-cash adjustments Total | 0.00 |
| Reimbursable Expenses Payable | 146.60 |
| Net cash provided by Operating Activities | 0.00 |
| 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 | 0.00 |
| Ending Cash Balance | 65.00 |
Amount is displayed in your base currency GBP**
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TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2024 TO 31 MAR 2025
Project Instrumental Balance Sheet Balance Sheet
Basis: Accrual
As of 31 Mar 2025
| Account | Total |
|---|---|
| Assets | |
| Current Assets | |
| Cash and Cash Equivalents | |
| Cash | |
| Total for Cash | 0.00 |
| Bank | |
| PI Paypal | 65.00 |
| Total for Bank | 65.00 |
| Total for Cash and Cash Equivalents | 65.00 |
| Accounts Receivable | |
| Total for Accounts Receivable | 0.00 |
| Other current assets | |
| Total for Other current assets | 0.00 |
| Total for Current Assets | 65.00 |
| Fixed Assets | |
| Total for Fixed Assets | 0.00 |
| Other Assets | |
| Total for Other Assets | 0.00 |
| Total for Assets | 65.00 |
| Liabilities & Equities | |
| Liabilities | |
| Current Liabilities | |
| Reimbursable Expenses Payable | 146.60 |
| Total for Current Liabilities | 146.60 |
| Long Term Liabilities | |
| Total for Long Term Liabilities | 0.00 |
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TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2024 TO 31 MAR 2025
| Account | Total | |
|---|---|---|
| Other Liabilities | ||
| Total for Other Liabilities | 0.00 | |
| Total for Liabilities | 146.60 | |
| Equities | ||
| Other Contributions | 4,823.71 | |
| Current Year Earnings | -146.60 | |
| Retained Earnings | -4,758.71 | |
| Total for Equities | -81.60 | |
| Total for Liabilities & Equities | 65.00 |
Amount is displayed in your base currency GBP**
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TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS
FOR THE PERIOD 1 APR 2024 TO 31 MAR 2025
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
The charity also relies upon volunteers from time to time.
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TRUSTEES’ ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD 1 APR 2024 TO 31 MAR 2025
Declarations
The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees.
Signature: Full name: Position: Date:
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