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|||||||Page|
|---|---|---|---|---|---|---|
|Reference|and administrative||details ofthe charitable|company,|its Trustees and||
|advisers|||||||
|Trustees' report||||||2-9|
|Independent|auditor's|report|on the financial statements|||10-13|
|Statement|offinancial|activities||||14|
|Balance sheet||||||15|
|Statement|ofcash flows|||||16|
|Notes to the financial||statements||||17-31|
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|Trustees|||Candace
Allen||||||
|---|---|---|---|---|---|---|---|---|
||||Lucy Stoner (appointed|||31 January||2023)|
||||Frank Douglas|(appointed|||1 December 2022)||
||||Kenneth
Olumuyiwa||Tharp||CBE||
|Company|registered||||||||
|number|||09553052||||||
|Charity registered|||||||||
|number|||1165933||||||
|Registered||office|3rd Floor, Paternoster|||House|||
||||65St Paul's Churchyard||||||
||||London||||||
||||EC4M 8AB||||||
|Independent||auditor|Lubbock Fine LLP||||||
||||Chartered
Accountants|||8 Statutory||Auditors|
||||Paternoster
House||||||
||||65 St Paul's Churchyard||||||
||||London||||||
||||EC4M 8AB||||||
|Bankers|||HSBC||||||
||||Canada Place||||||
||||Canary Wharf||||||
||||London||||||
||||E145AH||||||
|Pro bono|legal advisor||Hogan Lovells International||||LLP||
||||Atlantic House||||||
||||Holborn Viaduct||||||
||||London||||||
||||EC1A2FG||||||
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||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|
|||||Note|2023f|2023f|2023f|2022f|
|Income from:|||||||||
|Donations
and|legacies|||2|458,763|438,643|897,406|1,031,842|
|Charitable
activities||||4|1,319,816||1,319,816|600,076|
|Other income||||||||527|
|Total income|||||1,778,579|438,643|2,217,222|1,632,445|
|Expenditure
on:|||||||||
|Raising funds|||||7,102||7,102|1,358|
|Charitable
activities||||5|2,351,400|291,000|2,642,400|1,553,619|
|Total expenditure|||||2,358,502|291,000|2,649,502|1,554,977|
|Net (expenditure)/income|||before||||||
|taxation|||||(579,923)|147,643|(432,280)|77,468|
|Taxation|||||505,185||505,185|163,376|
|Net movement|in funds||||(74,738)|147,643|72,905|240,844|
|Reconciliation|offunds:||||||||
|Total funds brought||forward|||511,642||511,642|270,798|
|Net movement|in funds||||(74,738)|147,643|72,905|240,844|
|Total funds carried forward|||||436,904|147,643|584,547|511,642|
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|||||Note|2023|2023f|2022|2022f|
|---|---|---|---|---|---|---|---|---|
|Fixed assets|||||||||
|Tangible assets||||10||15,748||279|
|Current assets|||||||||
|Debtors||||11|931,392||369,005||
|Cash at bank and|in hand|||17|77,065||421,933||
||||||1,008,457||790,938||
|Creditors: amounts||falling|due within one||||||
|year||||12|(439,658)||(279,575)||
|Net current assets||.||||568,799||511,363|
|Total assets less|current||liabilities|||584,547||511,642|
|Total net assets||||||584,547||511,642|
|Charity funds|||||||||
|Restricted
funds||||14||147,643|||
|Unrestricted
funds||||14||436,904||511,642|
|Total funds||||||584,547||511,642|
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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
||||||Note||F|
|Cash flows from operating|||activities|||||
|Net cash|used
in operating|activities|||16|(326,880)|(118,087)|
|Cash flows from investing|||activities|||||
|Purchase|oftangible
fixed assets|||||(17,988)||
|Net cash|(used in)/provided||by investing|activities||(17,988)||
|Change|in cash and cash||equivalents
in|the year||(344,868)|(118,087)|
|Cash and|cash equivalents||at the beginning|ofthe year||421,933|540,020|
|Cash and cash equivalents|||at the end of|the year|17|77,065|421,933|
|The notes on pages 17to 31 form part ofthese financial statements||||||||
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||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2023|2023|2023f|
|Donations
and gift aid|100,911||100,911|
|Grant income|197,600|111,000|308,600|
|Arts Council England||180,000|180,000|
|Gifts in Kind and Sponsorships|160,252|147,643|307,895|
|Total2023|458,763|438,643|897,406|
||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2022|2022f|2022|
|Donations
and gift aid|73,459||73,459|
|Grant income|155,000|256,866|411,866|
|Arts Council England||414,445|414,445|
|Gifts in Kind and Sponsorships|82,072|50,000|132,072|
|Total2022|310,531|721,311|1,031,842|
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|||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2023|2023|2023f|
|Maria Bjornson Memorial||Fund|||10,000|10,000|
|Garfield Weston Foundation||||30,000||30,000|
|Foyle Foundation||||30,000||30,000|
|Fidelity International||||3,000||3,000|
|Harrison
Frank Family Foundation|||||4,000|4,000|
|Dyers Company
Charitable||Trust||5,000||5,000|
|The Hollick Foundation|||||20,000|20,000|
|The Linbury Trust||||50,000||50,000|
|Paul Hamlyn
Foundation|||||77,000|77,000|
|Charityworks
Charitable|Company|||5,126||5,126|
|Other grants||||74,474||74,474|
|||||197,600|111,000|308,600|
|||||Unrestricted|Restricted|Total|
|||||funds|funds|funds|
|||||2022|2022f|2022|
|The Linbury Trust||||50,000||50,000|
|29th May 1961Trust|||||5,000|5,000|
|Ashley
Family Foundation|||||4,000|4,000|
|Esmee Fairbairn
Foundation||||100,000||100,000|
|London Community
Response|||Fund||20,000|20,000|
|Garfield Weston
Foundation|||||150,000|150,000|
|Paul Hamlyn
Foundation|||||70,000|70,000|
|Dyers Company
Charitable||Trust||5,000||5,000|
|Charityworks
Charitable|Company||||1,000|1,000|
|Other grants|||||6,866|6,866|
|||||155,000|256,866|411,866|
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||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2023f|2023|
|Concerts|1,319,816|1,319,816|
||Unrestricted|'Total|
||funds|funds|
||2022|2022f|
|Concerts|600,076|600,076|
##
|||||Unrestricted|Restricted||
|---|---|---|---|---|---|---|
|||||funds|funds|Total|
|||||2023|2023
F|2023f|
|Concerts||||2,334,153|291,000|2,625,153|
|Learning|and|participation|project|17,247||17,247|
|||||2,351,400|291,000|2,642,400|
|||||Unrestricted|Restricted||
|||||funds|funds|Total|
|||||2022|2022|2022|
|||||||f.|
|Concerts||||823,328|656,937|1,480,265|
|Learning|and|participation|project|8,980|14,374|23,354|
|Website|||||50,000|50,000|
|||||832,308|721,311|1,553,619|
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|||||Activities|||
|---|---|---|---|---|---|---|
|||||undertaken|Support|Total|
|||||directly|costs|funds|
|||||2023|2023f|2023f|
|Concerts||||2,353,704|271,449|2,625,153|
|Learning|and|participation|project||17,247|17,247|
|||||2,353,704|288,696|2,642,400|
|||||Activities|||
|||||undertaken|Support|Total|
|||||directly|costs|funds|
|||||2022f|2022f|2022f|
|Concerts||||1,328,612|151,653|1,480,265|
|Learning|and|participation|project|13,223|10,131|23,354|
|Website||||14,244|35,756|50,000|
|||||1,356,079|197,540|1,553,619|
##
||||||Learning|and|||
|---|---|---|---|---|---|---|---|---|
||||||participation|||Total|
|||||Concerts|project||Website|funds|
|||||2023f||2023f|2023f|2023f|
|Staff costs||||244,833||||244,833|
|Players fees||||1,872,063||||1,872,063|
|Music purchase||or hire||51,081||||51,081|
|Production|marketing|||23,786||||23,786|
|Management|and artistic consultancy||fees|41,874||||41,874|
|Hall rental and||marketing||67,494||||67,494|
|Filming and|editing|||52,573||||52,573|
|||||2,353,704||||2,353,704|
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|||||Learning|and|||
|---|---|---|---|---|---|---|---|
|||||participation|||Total|
||||Concerts|project||Website|funds|
||||2022||2022|2022f|2022|
|Staff costs|||39,670|13,223|||52,893|
|Players fees|||990,851||||990,851|
|Music purchase||or hire|54,818||||54,818|
|Production|marketing||14,099||||14,099|
|Management|and artistic consultancy fees||132,443|||14,244|146,687|
|Hall rental and||marketing|96,731||||96,731|
||||1,328,612|13,223||14,244|1,356,079|
##
||||||Learning|and|||
|---|---|---|---|---|---|---|---|---|
||||||participation|||Total|
|||||Concerts|project||Website|funds|
|||||2023||2023|2023|2023|
|||||||F|||
|Advertising|& promotional||material|7,636||402||8,038|
|Sundry||||20,830|1,420|||22,250|
|Office expenses||||3,803||200||4,003|
|Accountancy||||479||25||504|
|Subscriptions||||2,478||||2,478|
|Auditors
remuneration||-|Audit (governance)|15,608||822||16,430|
|Auditors
remuneration||-|Other|1,824||96||1,920|
|Depreciation||||2,393||126||2,519|
|Professional|fees|||212,598|13,956|||226,554|
|Property costs||||3,800||200||4,000|
|||||271,449|17,247|||288,696|
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|Analysis of|support|co|sts (conti|nued)||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Learning|and|||
|||||||participation|||Total|
||||||Concerts|project||Website|funds|
||||||2022f||2022|2022f|2022|
|Staff costs|||||8,202||2,735||10,937|
|Advertising|& promotional||material||7,496||395||7,891|
|Sundry|||||32,769||1,664||34,433|
|Office expenses|||||1,925||101||2,026|
|Accountancy|||||430||23||453|
|Subscriptions|||||1,780||||1,780|
|Auditors
remuneration||-|Audit (governance)||8,550||450||9,000|
|Auditors
remuneration||-|Other||3,966||209||4,175|
|Depreciation|||||141||7||148|
|Professional|fees||||85,786|4,515||35,756|126,057|
|Property costs|||||608||32||640|
||||||151,653|10,131||35,756|197,540|
|Staff costs||||||||||
|||||||||2023f|2022|
|Wages and|salaries|||||||218,853|57,497|
|Social security costs||||||||19,930|4,540|
|Contribution|to defined|contribution||pension|schemes|||6,050|1,793|
|||||||||244,833|63,830|
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|||2023|2022|
|---|---|---|---|
|Artistic consultancy|fees|69,196|60,000|
|Expenses reimbursed||56|1,800|
|Player fees||18,706|31,422|
|Solo fees||9,500||
|||97,458|93,222|
##
|Taxation||||
|---|---|---|---|
|||2023f|2022|
|Corporation|tax|||
|Corporation|tax credit for the year|(505,185)|(163,376)|
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|||Office|
|---|---|---|
|||equipment|
|||Z|
|Cost|||
|At 1 April 2022||2,021|
|Additions||17,988|
|At 31 March 2023||20,009|
|Depreciation|||
|At 1 April 2022||1,742|
|Charge for the year||2,519|
|At 31 March 2023||4,261|
|Net book value|||
|At 31 March 2023||15,748|
|At 31 March 2022||279|
|Debtors|||
||2023f|2022f|
|Due within one year|||
|Trade debtors|19,709|12,502|
|Other debtors|905,529|348,971|
|Prepayments|6,154|7,532|
||931,392|369,005|
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|||2023f|2022f|
|---|---|---|---|
|Trade creditors||4,990|877|
|Other taxation and social security||7,844||
|Other creditors||8,379|7,082|
|Accruals and deferred|income|418,445|271,616|
|||439,658|279,575|
||||||2023f|2022f|
|---|---|---|---|---|---|---|
|Deferred|income at 1 April||2022||263,117|319,122|
|Resources deferred||during|the year||95,900|220,390|
|Amounts|released|from previous||periods|(263,117)|(276,395)|
||||||95,900|263,117|
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|||||||||Balance at|
|---|---|---|---|---|---|---|---|---|
|||||Balance at 1||||31 March|
|||||April 2022f|Income
f|Expenditure
f|Taxationf|2023f|
|Unrestricted|||funds||||||
|General|Funds|||511,642|1,778,579|(2,358,502)|505,185|436,904|
|Restricted||funds|||||||
|Arts Council||Grants|||180,000|(180,000)|||
|Concerts|||||183,643|(111,000)||72,643|
|Website|||||75,000|||75,000|
||||||438,643|(291,000)||147,643|
|Total of|funds|||511,642|2,217,222|(2,649,502)|505,185|584,547|
|Statement||of|funds - prior year||||||
|||||||||Balance at|
|||||Balance at||||31 March|
|||||1 April 2021
f|Income
f|Expenditure
f|Taxation
f|2022f|
|Unrestricted||funds|||||||
|General|Funds|||270,798|911,134|(833,666)|163,376|511,642|
|Restricted||funds|||||||
|Arts Council||Grants|||414,445|(414,445)|||
|Concerts|||||256,866|(256,866)|||
|Website|||||50,000|(50,000)|||
||||||721,311|(721,311)|||
|Total of|funds|||270,798|1,632,445|(1,554,977)|163,376|511,642|
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|Analysis of net assets between funds - cur|rent year|||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2023f|2023f|2023f|
|Tangible fixed assets|15,748||15,748|
|Current assets|1,027,117|75,000|1,102,117|
|Creditors due within one year|(533,318)||(533,318)|
|Difference|(72,643)|72,643||
|Total|436,904|147,643|584,547|
|Analysis|of n|et asse|ts|between funds - prior year|||
|---|---|---|---|---|---|---|
||||||Unrestricted|Total|
||||||funds|funds|
||||||2022f|2022f|
|Tangible|fixed|assets|||279|279|
|Current|assets||||790,938|790,938|
|Creditors|due|within|one|year|(279,575)|(279,575)|
|Total|||||511,642|511,642|
##
|Reconciliation
of ne|t move|ment
in fund|s to net cas|h flow from oper|ating
activities||
|---|---|---|---|---|---|---|
||||||2023f|2022f|
|Net income for the year (as||per Statement|of Financial|Activities)|72,905|240,844|
|Adjustments
for:|||||||
|Depreciation
charges|||||2,519|148|
|Increase
in debtors|||||(656,047)|(305,813)|
|Increase/(Decrease)|in creditors||||253,743|(53,266)|
|Net cash used in operating||activities|||(326,880)|(118,087)|
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||||2023|2022f|
|---|---|---|---|---|
|Cash|at bank and|in hand|77,065|421,933|
|Total|cash and cash equivalents||77,065|421,933|
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|||||||At 1 April||At 31 March|
|---|---|---|---|---|---|---|---|---|
|||||||2022|Cash flows|2023|
|Cash|at|bank|and|in|hand|421,933|(344,868)|77,065|
|||||||421,933|(344,868)|77,065|