Company regis(rtitiort numbtr. 10136126
Charity regjslration number. 1167608
The London Musical Theatre Orchestra
(A company limitrd by guardntee)
Annual Report and Financial Ststements
For the Year Ended 30 April 2021
HMA Accountancy Services
12 Kill&sser Court
Ststion Approacb
Tadworth
KTrO SAN
*AdVGGN9K
11101Q022
COMPANIES HOUSE
A13
#274

The London Musieal Theatre Orchestra
Contents
Reference and Administrative Details
Trustec5' Report
Independent Examiner's Re￿rt
Statement of Financial Activities
Balance Sheet
Notes to the Financial Stalements
9-13

Tbe London Musical Theatre Orchestra
Referenee and Administrative Details
Charity name:
The London M￿siCal Theatre Orchestra
Charity registration number:
1167608
Company registration number:
10136126
Principal business office:
85 Great Portiand Street
First Floor
London
WIW 7LT
Registered office:
85 Greal Portland Street
First Floor
London
WIW 7LT
T￿￿tee5.
Lucien Bowman
Maya Prabhu
Jeremy Stuart-smith
Nicholas Rory Tapner
Sarah Wyse
Accountsnt
HMA Accountancy Services
12 Killasser Court
Station Approach
SuTrey
KT20 SAN
Bankers:
Coutts & Co.
440 The Strand
London
WC2R (QS
Solicitors:
Harix)ttle & Lewis
14 Hanover Square
Mayfair
tA)ndon
Wis IHP

The London Musieal Theatre Orchestra
Trustees, Report
The trustees present their report and the financial statements for the year ended 30 April
2021.
Objectives and Aetivities
LMTO is the world's only professional orthestra dedicated solely to perforniing works of
m￿$1¢81 theatre.
Despite the challenging circumstances of the Covid-19 pandemic, duTing the year under
review LMTO has achieved its objective: to advance, develop, improve and maintaiD public
appreciation of the art ofthe m￿stCa1 theatre for the public benefit through the presentation of
a diverse programme of public concerts of M￿l¢al theatr¢ repertoire of artistic merit.
LMTO perfonned live 11 (2020: 10) times lo a lotsl audience of10,000 (2020: 19.000).
recorded m￿81C for I project (2020: 3) and recorded I broadc&st {2020: 1). 2 albums (2020: 2)
with music recorded by Lmfo were rele&sed and the orchestra accumulated 310,000.
streams (2020: so,￿0) across the year.
Achievements aod Perforniance
The Covid-19 pandemic affected all plans and perfomjances across the year in question.
Particularly affected planned perforn￿￿eS included a 104atc tour of A NightAt The
Musicals in October 2020 and a Io-nigbt nm of A Chrisffih￿ Carol in p8tlnetsknp with the
English National Opera at the London collseuj￿ among others.
Live PeTformLw￿es
Despite the challenging enviroDmenl we produced A Christmas Carol at the Dominion
Theatre in De¢ember 2020. Due to play for 41-nights, the show was Cancelled aft¢r just I I
perforn￿r£S when London was put into Tier 3 resiTiCtions.
The show was a positive force in a dark tinK for artists and audiences. In brief:
The show gainfully employed over 150 people in a year when creatives were without
worL giving them income, a sense of pury)ose and hope for the fun￿¢ of their career.
27 of those 150 staff were young developing musicians (devs) - and d¢spite only
managing I I wforn]ances, we gave 20 devs their west end debut.
The show entertained l 0,000 people across I I perfonnances, giving families a life-
long memory in a year when there has been precio￿ little joy.
The show received excellent notices. including &kstsr reviews in th¢ Telegraph and
the Guardian.
Recordings released
We released 4 songs from King The knical in April 2021 with proceeds donated to
Blueprint For All (fornierly the Stephen Lawrence ChaTitable Tn￿). Ltlcie Jones.. Live At
The Adelphi, iecorded in February 2020. was ￿leaSed in Septernber 2020 under licence to
Live Here Now.

The LoDdon Musical Theatre Orchestra
Trusttts, Report (eont'd)
i¢ian Developpnent
LKfo continues to run a development progrdmme for young professional musicians (devs)
just starting out on their careers.
During the year, Lirffo ran no Silzes due to Covid-19 (2020: 11). but we created 20 dev
positions (2020: 45) at our public concerts (only A christh￿L¥ Carol this year).
Comments from devs perfoTming in A Christmas Carol include: 'kne most supportive and
heartwatming Musi￿1 ex￿rienCe I've had" from day one I felt part of the team and gained
so much confidence" and "having done a number of orchestravsolo training schemes
previously, LTrifo development progrdmme has been my favourite"
LMTO continued to run WOTkshops during the various lockdowns, moving the offering online
and pivoting the usual mixture of practical musical skills to profcssionai skills such as
managing your and accounts as a freelancer. the history of musical theatre and how to
broaden and develop your M￿81C knowledge as a young musician.
As a dir¢¢t result of LMTO'S inpuL devs continue to deputise for musicians In shows s￿h &8
Wicked. The Lion King, Les Misérables and The Phantom ofihe Opera in the West End.
LI￿[0 continues to be the only organisation iti the UK which supports and develops young
musicians with a passion for musical theatre in this practical manner.
Fundraising
LD4rro raised just over £110,000 in philanthropic funding (2020: £87.1)00), £45.000 of which
was a grant &$ part of the Culture Recovery Fund which enabled L￿r0 to continue to
function from October 2020 to March 2020.
LfrfTO observes and complies with the relevant fimdraising regulations and codes. During
the year there no non-compliance of these regulatiODS and code5 and the LFrffo received
no complaints relaiing to its fimdraising practice.
Financial Review
For the year end 30 April 2021 the charity achieved net expenditure of £6.702 {2020: net
income £49.144) and the charity now I￿S accumulated reserves of £12,866 (2020. £19,568).
Reserves Policy 2nd Going Concern
The trustees consider that there ￿e no material unrxrtainties about the cbaritable company's
ability to continue &$ a going concern.
Struethre 8nd GovernaD¢¢
LMTO is a registered cbaritsble company limited by guarantee and its business is governed
by the Charities Act 2011 and its memorandum and Articles of A$s(￿latiOn.
Each Trustee is also a member and DI￿lor of the ￿MpanY and is not remunerated. The fi￿1
Board rneets at least four times a year while the day-to-day management is caTried out by the

The London Musical Theatre Orchestra
Trustees, Report (cont'd)
management team. The Tn￿e¢S are reS￿nsIble for the approval of strategic and fmancia]
plans for the company. apFx)intment of the executive management and monitoring of
t￿OrnIa￿ce, approval of senior management r¢munerntion and governance.
The management team is responsible for the development and implementation of strategic.
artistic and fll]ancial plans and ail operational aspects of the company.
Statement of RespoDsibilities of the Trn$t¢es
The trustees (who are also directors of LKFO for the purw)ses of company law) are
responsible for preparing the Trustees. Report and the Financial statemenls in accordance
with applicable law and United Kingdom Accounting SLqndards (United Kingdom Generally
Accepted Accounting PTa¢tice).
Company Law requires the trustees to prepare fina￿la1 sL*ements for each financial year
which give a true and fair vi¢w of the stale of affairs of the charitable company and of the
incoming resources and application of resources. including the income and expenditure, of
the charitable company for that period. In prepaTing these financial statements, the trustees
are required to:
Select suitable accounting policies 2nd then apply them consistently
Observe the methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and prudent
State whether applicable UK Accounting Standards and Statements of Recommended
Practice have b¢en followrf subject lo any rnateri￿ (kpartures disclosed and
explained in the financial statements
Prewe the financial statements on the going concern b￿lS unless it is inappropriate
to presume that the charity will continue in operation.
The trustees are resw)nsible for keeping adequate accounting records that disclose with
reasonable arxuracy at any time the financial position of the charitable company and enable
them to ensure that the financial slatements comply with the Companies Act 2006. They are
also responsiblc for safeguarding the assets of the charitable company and lThce for taking
I￿80nable steps for the prevention and detection of frdud and other irregularities.
The trustees are resp)nsible for the n￿]ntenance and integrity of the coryK)rate and financial
inforniation included on the charilable company's website. Legislation in th¢ Uniied
Kingdom governing the preparation and di&8em1n￿0n of fitwicial statements may differ
from legislation in other jurisdictions.
Equal Opportunities
LMTO is conunitted to a of equal opportunity in all aspects of its employment
practices.

The IApndon Mv5i¢al Theatre Or¢h¢stra
Tn￿tee$, Re￿rt (eont'd)
Poblie Bentrrt
The trustees coDfjnD that they have compli¢d with th¢ requirements of section 4 ofthe
Clwities Act 2011 to have due regard to the public benefit guidance published by the Charity
Commi&sion for England W*les.
This h&s been weparnl iti accor￿ wlth the provisions applicable to companie.s
entitled tt) the sDMiI ￿M￿nIeS exemptiOIL
0 .1.2Iy22 and sigDed on its beh￿r by:
ApprovcdbytheBoardoD.. . .. .
FRANCESCA
Director

Independent Examiner's report to tbe Trnstees of
The London Musical Theatre Orchestra
I report on the accounts of th¢ Charity for th¢ y¢8r ¢nded 30 April 2021 which are set out on pages 7 to
13.
Respettive reyponslblllties oftntyte¢g •ad e￿rniner
The trustees (who are also th¢ d1￿CtorS of the ¢ompany for th¢ purposes of company law) are
responsible for the prepardtion of the aC￿nts. The trustees consider that an audit is not r¢quir¢d for
this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent
examination is needed.
Having satisfied myself that the charity is not subject to audit und¢r wrnpany law and is eligible for
inde￿ndent examination. it is my reS￿nsibIlity to:
• examine the accounts under section 145 of the 201 l Act
• to follow the procedures laid down in the genernl Directions given by the Charity Commission under
section 145(5Xb) of the 2011 A¢L and
to state whether particular matters have come to my attention.
Basis of independen¢ examiner's report
My examination w&8 carried out in accor￿ with the genernl Directions given by the Charity
Commission. An ¢xamination includes a Teview of the accounting records kept by the charity and a
comparison of the accounts pr¢s¢nt¢d with thos¢ rcwrds. It also includes wnsiderdtion of any unusual
iterns or disclosure5 in the accounW and $￿k￿ng explanations from you as trJstee5 ¢onc¢rning any
such rnatters. The Pr￿edureS undertaken do not Provide all the evidence that would be required in an
audit and consequently no opinion is given to whether the accounts present a 'true and fair view,
and the rewjrt is limit¢d to thos¢ matters set out in the statement below.
Independent eLgmiDerfs statemeDt
In connection with My examinatiOD, no matter has come to my attention:
(l) which 8iv¢s m¢ reasonable cause to believe that in any material reSp￿t the requirements".
to keep a¢countiD8 record% in accordance with sectiOD 386 of the Companies Act 2006. and
• to prepare accounts which accord with the accounting records. comply with the accounting
requirements of section 396 of the Companies Act 2￿6 and with the methods and principles
of the Ststement of Recommended PTacti¢¢: A￿UntIng and Reporting by Charities
have not been meL or
{2) to which. in my opinion. attenti¢)n should be drawn in onkr to ettable a proper undeTSt8nding of
the accouots to be r¢ach¢d.
Helen M Ain5WOrth Bsc FCA
Charter¢d A¢counlant
IDAA Accountancy services
12 Killas5er Court
Ststion Approach
Tadworth
KT20 SAN

The London Musical Theatre Orehestra
Statement of FinaDcial Activities (ineorporating ineome gnd Expenditure
Account)
For the year ended 30 April 2021
Total fund$
(all
Unrestricted Total funds UDrestrieted)
Funds
2021
2020
Nots
In¢oming r¢$ourtts
Income and endoivrnents from:
Donations and Legacies
Charitable activities
Other income
110.323
25
8204
110,323
25
8204
87,624
43,824
141,419
Total incoming resources
118,552
118552
272 867
Resources expend¢41
Expenditure on:
Charitable activities
125254
125.254
223,723
Total resources expended
l25254
125254
223,723
Net (outgoin&) incoming
resources aDd Det movement ID
fund$ for tbe year
(6,702)
(6,702)
49,144
ReconeiliatioD of fuDds
Funds brought forward
19,568
19,568
(29,576)
Total fuDds carried forward
12
12.866

The IApDdon Musical Theatr¢ Or¢bestra
Balanee She¢t
As 8130 April 2021
Totsl f4tsds TO￿ futtd$
2021
2020
1¥4ote
Tanglbk fixed •ss¢ts
CunTnt 9$9¢ts
Debtors
Cash at bank and io hand
io
292139
36,284
36.042
52.912
Cr￿lItorS". ABHbunts &IIiDg dwe
wlthin year
(26,885)
(34.130)
Nrf current assets Oi*biMies)
Ne¢ Il*blIS￿e8
Funds of tbe charity
UDrestrieted funds
A2
Forthe year ended 30 ApTil 2ff21. the chrity was to exallFtion frorn wdit under section 477
of the Coolp￿leS Act 2(M)6 rtlatiti8 to sttthll La)mp#Die
Diredor5 reSPX￿i￿l1It1eS.
The dirEdor5 ackDowkdge their resWn5ibiliti¢s for wmptying with the Fryuirem¢nts of the
Thes¢ finanrial s¢at¢umits are P￿*r¢d in aC<(rda1￿ with the spxial PTOY15iO￿ of Part 15 of the
Companies Aet r¢latinglo small wmpaDiesand c(q￿lty)tcthc al￿￿￿] reqUi￿j by the
Companie5 Art2(J)6 and are for circulation to rne4Dixrs of the cojnpw.
Th¢ nL*e5 at pges 9 to 13 forn p¥t of tkrtse
Approved and 3uthori￿ for issu¢ by the Boud of TnL%tees on..£?..J.ttN. U.AeÈ022 and 4r¢
FRANCESCA CANrY

Tbe London Musieal Theatre Orchestra
Notes to the Financial Statements
For the year ended 30 April 2021
Aetounting poli¢1
The principal accounting policies adoptrf judgements and key sources of estimation
uncertainty in th¢ preparation of the finaDcial statements are as follows:
Basis of preparation
The fmancial statements have Ixen prq)ar¢d in accordance with Accounting and
Reporting by Clwities: Statement of Recommended Practice applicable to Charities
preparing their accounts in a￿ordanCe with the Financial Rqx)rting Standard
applicable in the UK and Republic of Ireland (FRS 102) (second edition effective I
January 2019) - (Charities SORP (FRS 102)). the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The London Musical Theatre Or¢hestra meets the definition of a public b¢nefit entity
under FRS102. Assets and liabilities are Initi￿lY recognised at historical ￿st or
transaction value unic5s otherwise stated in the relevant accounting p)licy note.
Going CODcern
The Tn￿te¢S consider that it is appropriate to treat the charity Is a going concern and
the financial statements have been prepared on this b￿ls.
Ineome and endoivmeDts
Income including income from concerts and donations is rccognised in the period
in which it is earned. All income relates to actlVAties taking place in the UK.
Government grants are recognised at the fair value of the &8set received or receivable
when there is re&sonabl¢ &ssurance that the grant conditions will be met and the grants
received. Where a grant does not specify perfornkqnce condition it ts recognised in
income when the proceeds are received or receivablc.
Resources expended
All expenditure is recogniscd once there is a legal or ￿nstrUCtive obligation to that
expenditure, it is probable settlement is requird and the amount can be measured
reliably. All costs are allocated to the applicable ex[￿ndituTe heading that aggregate
similar costs to that category. Expenditure is classified under the following activity
headings:
Costs of generating funds ar¢ the costs associated with attracting voluntary
income:
Expenditure on charitable activities includes the costs of delivering the activity
undertaken to further the purEK)ses of the charity and their associated support
costs.

The London Musical Theatre Orchestra
Notes to the FinaDcial Statements {¢ont'd)
For the ye8r ended 30 April 2021
FuDd ac¢ouDting
Unrestricted income funds are geDera] funds that are available for use at the tn￿le¢s,
discretion in fiJrthcran¢e of the objectives of the charity.
FiIed assets and depreeiatioo
Fixed assets are recorded at cosL Depreciation is provided on tangible fixed assets
at rates calculated to write off the cost of each asseL less their residual values, over it5
expected ￿SefUl life ￿ follows:
Equipment
- 2￿/0 straight line
P¢n$Aon scheme
The charity operates a defined contribution pension scheme. Contributions to the
s¢heme are charged to the Statement of Financial Activities in the accL)unting period to
which they relate.
3 Voluntary intome
UDre8trieted Unmtrieted
funds
fuDds
2021
2020
Donations and legacies:
Appeals and donations
Culture Recovery Fund Grant
65,323
45.000
87,624
110323
4 Ineome from charitable atlivities
Unrestricted UDrestri¢t¢d
funds
fuDds
2021
2020
Concerts
25
io

The London Musical Theatre Orchestra
Notes to tbe Financial Statements (cont'd)
For the year ended 30 April 2021
5 Other in¢oming resources
Unrestrieted Unrestricted
funds
funds
2021
2020
Other income
Theatre Tax R¢li¢f
8204
113.915
27.504
141.419
ExpeDditure OD charitsble activitks
2021
2020
Cost of productions
Musicians. production and SUp￿)rt
personnel fees
Insurance
Computer software and maintenance
costs
Printing, postage and stationery
Travel and subsistence
Advertising and protnotion
Acuuntancy
Legal and professional fees
Depreciation
General expenses
38.105
53,934
76,458
1.067
151,543
645
1,930
615
457
2,454
1.219
3,566
7,251
730
500
480
576
179
2,202
125 254
223 723
7 Stalf costs and Tru$l¢es' ftmun¢rntioD
2021
2020
Salaries
Social security costs
Pension costs
7,068
142
349
li

The London Musical Theatre Orchestra
Iyotes to the Financial Statements (cont'd)
For the year ended 30 April 2021
Fees of £16,250 (2020: £nil) were paid to the Chief Executive Officer who is tbe son
of Nicholas Rory Tapner, a trustee.
No tnLStees have received any remuneralion from the charity during the year. No
trustees have received any reimbursed expenses or any other benefits from the charity
during the year.
.Taxation
The company is a regtstered clwity and &8 such its income and gains falling within
Sections 471 to 489 of the CoTporation Tax Act 2010 or Section 256 of the Taxation
of Chargeable Gains Act 1992 are exempt from coryM)ration tsx to the extent that they
are applied to its Charitable objectives.
Tangible Fixed Assets
Equipment
Cost
As at l May 2020
Additions in year
As at 30 April 2021
984
4.387
Depr¢eiAtion
As at l May 2020
Charge for the year
As at 30 April 2021
198
480
678
Net Book Value
As at 30 April 2021
As at 30 April 2020
786
io
Debtors
2021
202
Other debtors
Other tax and social security
29.209
8,779
27,505
29.209
36,284
12

The London Musical Theatre Orchestra
Notes to the Financial Ststements {cont'd)
For the year ended 30 April 2021
11 Creditors: amounts falling due withiD one y￿r
2021
2020
Other tsx and social security
Other creditors
Accruals
317
26,048
520
5.168
28.222
730
26,885
34,120
12 FuDds
BalaDce at
30 April
2020
Balance at
30 April
2021
Incoming
resources
Expended
resources
Unrestricted fvnds
General
19,568
118552
125.254
12.866
13 Members, liability
The London Musical Theatre Orchesty a registered clwity, is a company limiied by
guarantee not having a share capital. F2ch of the members is liable to contribute an
amount not exceeding £nil towards the assets of the company in the event of its
winding up.
14
Related party transaclions
During the year costs of £nil (2020: £7,188) were incurred for room bire at
Bishops8ale Institute. There was no balance outstanding at 30 April 2021 (2020: £nil).
BishOpsg￿e Institute is considered to be a related paty &8 Francesca Canty is a
Trustee of Th¢ London m￿sIcal Theatre Orchestra and the Chief Executive of
Bishopsg*e tnstitLTte.
During the year Nichol&s Rory Tapner, a tn￿¢¢, advanced an additional loan of £5,000
(2020.. £nil) to the charity. The balance outstanding at 30 April 2021 w&$ £15.000
(2020.. £10.000). The loan is interest free and repayable on deman