Company rcgislraiion numt¢r. 10136126 Charity wistiation Dumb¢r. 1167608 The London Musical Theatre Orchestra (A company limit¢d by guarantee) Annual Report and Finaneial Statements For the Year Ended 30 April 2024 HMA Accountancy Scrvices 12 Killasser Court Station Approach Tadworth Surrey KT20 SAN
The IA)ndon Musical Theatre orChtra Contents Reference and Administrative Details Trustees, Report Independent Examiner s Report Statement of Financial Activities Balance Sheel Notes to the Financial Statements 9-15
The London Musfieal Tbeatre Orchestra Reference and Administrative Details Charity name: The London musi1 Theatre Orchestra Charity registration number: 1167608 Company registration number: 10136126 Principal business otYKe: 85 Gat Portland Strcct First Floor London WIW 7LT Registered office: 85 Great Portland Street Firsi Floor LorKlon WIW7LT Trustees: Carolyn Anderson Stuart Ba (appointed 14 March 2024. resigned l6 December 2024) Jefftey Brady (appK)inted 18 April 2024) Lucien Bowman Francesca Cant), Anna Diehm (appointed 18 April 2024) Dame Jennifer Eady (appointcd 17 July 2024) John Forrcst (appointed 18 AprAI 2024) Daniel Saunders (appointed 17 July 2024) Jererny Siuart-smith ( signed 17 July ?11?41 Nicholas Rory Tapner (resigned 7 December 20231 Maya Prabhu (resigned 9 May 2023) Sarah Wyse (resigned 9 Ma) 2023) Accountant HMA AccounLqncy Services 12 Killasser Court Station Approach Surr¢y KT20 SAN Bankcrs: Coutts & Co. 440 The Strand London WC2R OQS Solicitors: Harbottle & Lewis 14 Hanover Squa Mayfair London WIS IHP
The LondoD Musical Tbealre Orcheslra Trustees, Report The trustees present their report and the financial statements for the year ended 30 April ?0?4. Objectlves And A¢tlvfiti In ?0?3-?4, LMTO continued to achieve its charitable objecEives'. ty advance, develop. imprOe and maintain public appreciation of the arts of ihe musical theatre for the public benefit through Ihe presentation of a diverse programme of public concerts of musical tlKatTe repertoire of artistic merit. LMTO has 5 main work streams: The London Musical Theatre Orchestra: our flagship professionaL orchestr& delivering best- in-class orchestral backing for musical iheatre concerts. recordings and events. 'I"his runs on a commercial basis, with the surplus helping io fund LMTO'S core costs lo enable the other workstreams. In addition, we run an occasional LMTO L liorus. to supply chorus singers for our orchestral projects. Musician Development ("Dev Scheme" & Workshops): mentoring of musicians at the start of their &veers to upskill them l.or playing at industry-level in the 'est End and b¢yond. Sit7. Monthly.. a monthly concert musical, rehearsed and perfonned in a da), for an internal- only audience. run for the benefii of our community of hundreds of participant musicians, Orchestr and singers. in order lo help everyone d¢velop ih¢ir skills and appreLRdtion of musical theatre Tepertoire Sitz Weekly: a weekly singers-only gri)up singing classes to help musical theatre singers work on their skills Upbeat: our music education project in schools, using musical there repertoire as the catalyst for children to develop musical instrument skills. Achkvements #Dd Perfornianee The LMTO Orchestra & Chorus LMTO'S flagshtp professionaj orchestra perfomed in 5 projects.. 3 hj'gh-profile serni-staged concerts (Pippin 50th Anniversary, Love Never Dies and Evita in Concert." at the Theatre Royal. Drury Lane). In addition. we played for Iwo commercial hires for corpo¢ events (Vogue and a Uniied ations Gala Dinner). The Vogue event a150 included a reLording aspecl. Whilst we Weren't involved in any broadc&st pri)jects this year, we cemented our place ivithin industry circles. through Pippin being nominat¢d for a What's On Stsge award. At the awards. we will be competing 'Mith ourself., because Pippin is up against our"'Something Rotten" concert in ihe 24125 year. Now in its second year, the London Musical Thealre chon (LMTC) continues to suppon the London Musical "I"heatre 0h¢Stra in its rforniaft¢cs. LMTC is an auditioned amateur chorus that provides opportunities for amateur, student and semi-professional Singe lo perform at the highest level with LMTO. This year LMTC perfonned alongside LMTO in their concert prcAuctions of Love Never Dies and Evita.
The London Musical Thegtre Orchestra Trustees, Report (¢oDt'd) Musicion Developmenl- Dev Scheme a Workshops Thanks to a generous donation from the Sandy & Zorica Glen Charitsble SertlemenL LMTO'S revamped musician development Programme. the 'Dev Scheme. is now in its seeond year. Young professionals, 'Devs'. were auditioned in July *0?3 and placed in a fornial mentorlmeniee relationship with a member af LMTO for the durwion of the year-long programme. For the year under review. there were 17 Devs. with 14 corresponding mentors. Fifteen of the seventeen worked on at least one of our concerts, with two awaiting a suilable show atMI matching diary availabilily. The new scheme continuos to show its succ&sses with some of the biggest celebralions of the year including one Dev securing a chair on a lourin8 show and at kasl four Devs becornTng regular deps in shows across the West End and on tours. As part of our support for young professionajs. LMTO ran tw¢lve workshops across the y¢ar under review. Nine of these were live practical sessions, ranging from string sectiona15 and Big Band rehearsals to instrumental masiercla55es and skills for Working with childrern Three were online lectures covering orchestration. arranging and tax for self<mployed. Slrt In 2023-2024 LMTO rdn 13 Sitzes (?022: 12). a monthly privare rehearsal of a whole musical. For the fit time in Sitz history. one of the shows w&$ run twice on Iwo consecutive day& allowsr)g for double the number of participants to attend. tkring the year under review we welcM)ed 1875 people (2023.. 1600) to Sitzes (from 3704 applicalions). including working with ?5 music staff member5. Hi8hli8hrs of the year include a live-streamed Sitt of New Musicals in May 2023. orchestraling 4 musica]s from scratch during the year. and intT(thcing Sitz merchandise for the first time in April 20?4. Sitz Weekly also continued in the year under review. welcoming 190 of singers across 4 ternis. covering l ? focus numbers and ?2 mystery numters. Schools Programme- LMTO Upbeal The year under review was the third year of LMTO Upbeai. With sUPW)rt from the Prafarata Foundation. Three Monkies TrusL The Sandy and Zorica Glen Charitable SettlemenL and numerous private donors. LMTO Upbeat trdn5forned 180 students (40?3.. siudents) aged l 1_15 years old with no prior musical experience inio concen performers in the space of 8 weeks. The scope of the project doubled for the second year in a row. expanding to include rwo schools in Harlow. Esse as well &8 tw&) schools in Luion Fundr•i8lng LMTO raised £58.(KM) in philanthropic funding (2023: £20.IJ)O). LMTO raised £1 0.000 in Unrcstricied philanthropic funding: £? (W in donations from participants in our Sitz events and Workshops. and a further £8.000 through other philanihropic donations. including several memt¢rs of the LMTO community competing in the Saucony Iok run. Restricted Funding totslling £40,000 WLS rtteived from The Fishmonger5 Company. Prafarata and the Three Monkics TnLSt. In addilion, £6,0(Kl was received from participating %hools and music services for our educalion work: and £2.(N)O received from Restricted donations from our Sitz Events and workshops.
The London Musical Theatre Orchestra Trustees, Report (cont'd) LMTO observes and complies with ihe relevant fundraisin8 regulaiions and codes. During the year there was no non-compliance of these regulations and codes and the LMTO rcccived no complaints relating io its fundrai5in8 praclice. Financial Revi¢)v For the vear end 30 April 20?4 ihe charity achieved net expenditure of £57,840 (?023: £5? ] 68) and the charity now has accurnulated reserves of £46.857 (?0?3.. £11)4.697). Regerves Policy Ind GoiDg CoDcerD The tneeS Consider that there are no material uncertainries aboul the charitable company's ability to conlinue as a going concern. Strueture and Governance LMTO is a registered ¢haritsble c1panY litnited by guarantec and its business is governed by the Chariiies Act ?01 l and its memorandum and Articles of AswI10n. Each Trustee is also a member and Director of ihe company and is noi remunerated. The full Board meets ai lea four times a year w'hile day-to-day management is carried out by the management team. The Ttee5 are responsible for the approval of strategic and financial plans for the company, appointment of the executive management and monitoring of wforn]ance, approval of senior management remuneration and govemance. The management team is responsible for the development and impkm¢niation ofstralegic, artistic and financial plans and all operntional &sWS of company. Statement of Responsibilities of the Trnstees The rstee5 (who are also directors of LMTO for the purposes of company law) are resry>nsible for pr¢paring the Trustees. Rewrt and she Financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepled Accounting Practice). Company Law requires t trtee5 to prepare financial statements for each financial year which give a rrue and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including the income and exnditUre. of the charitable company for that F¢riod. In preparing these financi ststement& the trusltts are Tequired to: Select suitable accounting PK)licies and then apply them consislcmly Observe ihe rneth(xts and principles in the Charities SORP Make judgements and eslimat that are reasonable and prud¢nt State whether applicable Accounting Standards and Siemcnts of Recommend¢d Practice ha%e been followed. subject to any MtrIal departures disc105ed and explained in the rirwKial staiements Prepare the financial $i¢m¢n on the going concern b&sis unless it is inappropriate to presum¢ thai the chariry will continue in opcr&ion. The trustees are responsible for keeping adequate accounting records ihal disclose Véith reasonable accurac). at any timc thc financial p)sition of the charitable company and enable them to ensure that Ihe financtal sL4tements comply with ihe Companies Acl 1006. They are also re5pofLsible for
The kn)ndon musi1 Theatre OrchestrA Trnstees, Report (CODt'd) safeguarding the assets of the charitable company and hence for taking ronable sleps for the prevention ¥nd deiection of fraud other IegularLt1es. Tr trustees are r&swtLsible for ihe maintenance and imegrity of the c(fPLYate and financial information included on Ihe charitable company's website. Legislation in the United Kingdom govemin8 the preparntion and di&8emination of finala] Statements may differ from legislation in other jurisdictions. Equal Opportunities LMTO is committed to a policy of equal opportunity in all aspeths of its employment practices. Publft¢ Ben¢llt The trustees confinn that t have complied with the requirements of seclion 4 of the Chariiies Act 2011 io have due regard io the public benefit guidance published by the Charity Commission f( England and WaiL8. Sm*ll CompAny Provtslon This report hLs been prepared in accordance with the provisions applicable to companies entitled to the sma]I companies exemption. Approved by the Board on ?.l January .ti5 and signed on its behalf by: John F'orrest - Direclor
Independent Examiner's report to the Trustees of Tbe London Musical Theatre Orcbe5tr8 I rewrt on the accounts of the charity for the year ended 30 April ?0?4 which are set out on pages 7 10 15. Respeetive responsibilities of trDJtee5 and examiner The tntee5 (who are also thc director5 of the company for the purposes of companv law) are responsible for the preparation ol.the accounts. The trustees consider that an audit is not required for ?0 I l (the ?0 I l Act) and ihat an independent this year under section 1441-) ot.the Charities Act. examination is needed. Having satisfied myself that thc chartty is not subject lo audit under company law and is eligible for independeni examination. it is my reSnsibIl1rY io: examine the accounts under section 145 of the 201 l Act; • 10 follow the procedures laid down in the general Directio8 given by the Charity Commission under section 145(5)(b) of the ?0 I l A- and ' 10 State whether particular rnatters have come to my artention. Basil of independent examlner's report My examlnalion was carried out in accordance with the general Direction5 given by the Charity Commission. An examination includes a review, of the accounting records kepi by the charity and 2 comparison of the accounts presented those records. It also includes consideralion of any UnSU8] items or disclosures in the accoLmi& and seeking explanalions from you as tntee5 concerning an), such matter5. The procedures w)dertaken do noi provide all the evidcnce that would be required in at] alit and consequently no opinion is given as to whethcr the accounts present a 'truc and fair view. and the port is limiled to those matters set our in the statement below. Ind¢peDdent euminer'j sl*temenl In connection with mv examination. no matter h&$ come to m J. allention". (l ) which gives me Teasonable cause to believe ihat in any material respect the requiremeftts: . to keep accounting records in accordance wi(h section 386 of the Companies Act ?006: and • to prepare accounts ivhich accord with the accounting records. comply with the accounting requirements of section 396 of the Companies Ac( ?006 and with the methods and principlcs of the Slalement of Recommended Practice.. Accounting and Rewning by Charities have not been met" or (2) to which. in my npininn. attention should drawn in order lo endble a proper understanding of th¢ accounts to reached. 23 January 2025 Helen M AirLSworth Bsc FCA Chdrtered Accountanl HMA Accountanc> servtccs l? Killasser Court Station Approach Tad.0rth K'lfo SAN
The London Musical Thealre Orchestrn Statement of Financial Aetivities {iD¢orporating income and Expenditure Account) For tbe year ended 30 April 2024 Unrestrleted Restricted Funds Funds Totsl 2024 Tolal 2023 Note KDcomin8 rewurces Donatio and Grants Charitable activities 9,867 283J05 48.331 58,198 ?83,305 ?95.506 Total loeoming resources ?93 17? 341,503 313,783 Resources expended Expenditure on: Chariiable actii'iiies 19?.010 107.333 399,343 365.951 Total resources expended ?9!,010 107J33 399,343 365 951 Net Incomlng (outgoillg) re8ouree8 alld net m¢)vement in funds for the yegr (59.002) (57W) (52,168) R¢eoneili8tion of funds Funds brought forward 7.719 96,978 104,697 156.865 Tothl funds rrIed forward io.ii &881 46,857 104,697
The LondoD Musical Theatre Orchestra Bydlanee Sbeet s at 30 April 2024 Total fnnds Total funds 2024 2023 Note Tangible red assets 1.446 Current as$¢ts Debtors C&qh bank and in hand 18.407 131.609 150.016 12.572 118,917 131.489 Cr¢dilors: Amounts flllthg due within one ye*r (104.605) ?9.186) IY¢l current 4ssets 45.411 10?303 Net assets 46.857 104,697 Funds of the ebxrity Unrestrictcd funds Restricted fuDd5 8.881 37.976 7,719 96.978 Totsi fund5 io,ii 46.857 104.697 For the year ended 30 April ?0?4, the charity was entitled to exempiion from audit under section 477 of the Ccmpanies Act M)6 relaling to small companTes. Directors responsibilities- The members havc nol rcquired the ctwity to obtsin an audTt of its financial SementS for the year in question in accordance with section 476" The directors acknowledge their resFK)nsibilities for comptyin8 with the requirements of the Act with respect to accounting records and the preparation of financial statements. These fjnancial stalements are prepared in accordanc¢ with the special provisions of Part 15 of the Companies Act relating to nall companies and constilutc the annual accounts requirLyl by the Companies Aci ?006 and are for circUl10n to members of the company. The notes ai pages 9 to 15 forn) part of these a¢eounts. Approved and authorised for issue by the Board of Truslees on ?3 January ?025 and are signed on their behalf by John Forrest- Director
The IA>ndon Musical Tbeatre Orchestra Iyotes to the Financial Ststements For the year ended 30 April 2024 Accountlng pollcles The prtncipai accounting lICIeS adopted. jtmlgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: B8sis of pr¢pArlion The financial .statements have been prepared in accordance with Accounting and Reporting by Charities: stsiemenl of Recommended PrIce applicable io charities preparing t1r accounts in accordance with the Financial Reporting Standard applicable in the L,K and Rcpublic of Ireland (FRS 10?) (second edition effectiv¢ l January ?019)- (Charilies SORP (FRS 102)), the Financial Rewrting Standard applicable in the UK and Republic of ireland (FRS 10?) and the Companies Aci ?006. 'I'he London Musical Theatre Orchestra meets the definition of a public benefjt entity under FRS I O? Assets and liabilities are initially recognised at historical Cosi or trasaCtion value unless otherwise Stated in the relevani accounting wlicy note. Going CODcern The Trusiees consider that it is appropriate to treat the charity as a going concem and the financial staiements have been prepared on thi5 basis. lthtome and endowments Income including income from concerts and donalions and is recognised in the period in which Lt 15 eamed All income relates io ¥iivities taking place in the UL Government grants are recognised ai the fair value of the asset re1Ved or receivable when there is re&sonable &$5uran¢e Ihal the grant conditions will be met and the grants received. Where a grani does not specify perfonnarKe condition it is recolSed in income when tt proceeds are receivcd or receivable. Resour¢0 expended All expenditure is recognised once there is a legal or constructive obligation lo that expendilure. it is probablc 1CmCn¢ is required and the amount can be measured reliably. All costs are all<ed to the applicable expenditure heading that aggregate similar costs to that category, Expenditure is t11r1ed under the following activity headings: Costs of generating funds are the costs associated M'iih attracting voluntary income. Expenditure on charitable aclivities includes the costs of delivering the activity undertaken to further the purpostt of the charity and their associated supwjrt Costs. Fund ¢c(bun¢in% Unrestricled income funds are general funds thai are available tor usc * the ITU5tees' discretion in furtherance of the objectives of the charity. Restricted funds are donations and grants which the donor has specified are to be 501ely used for particular arw of ihe Charity's work or for specific projects being undertaken by the ChaTiIy.
The London Musical TheAtre Orchestra Yotes to the Financial Ststements (cont'd) For tbe year ended 30 April 2023 Filed assets and depr¢clatlon Fixed a15 are recorded at C051. tkpreciation is provided on all Lgible fixed assets at rates calculated io 'rIte off the cost of each ass¢L less their residual values, over its e¥pected useful life as follos. Equipmenl - ?/• straighi line Penslon scheme The charity operates a defined contribution pe10n scheme. Contributions to the scheme are Charged to the Stst¢ment of Financial Activities in the accounting period to which they relate. 2 Dooatlo45 and grxjxts 2024 UBr¢stricted Reslricted funds fuods Totsl t%)nations 9.867 48.331 58.198 2023 Lllrestri¢ted Reltricted runds rund TotAI Donations Arts Council Grants 3.?41 1?,989 18.?77 io
The London musi1 Theatre or¢hIrl Ot to tbe Fioaneial Statements (¢(wt'd) For the year ended 30 April 2024 3 Ineon* from ekarilable aetlvitles 2024 Unrestricted Restricted funds runds Total Tick-ets. hires and event income 283,305 283.305 2023 Uortstrieted Restricted fuuds funds Total Tickets. hires and event incorne ?95.il)6 295.i06 Expenditure on ehlritable a¢tivi¢i¢8 2024 Unrestricled Reslrleted funds fuDds Totsl Cost of projuctions Musicia. production and support peTsonnel fees Insurance Computer software and mairfytcnance costs Printing. postage and stationery Travel and 5ub5isieD¢e Advertising and promotion Accountancy Legal and professional fees Charitable donations Deprectation Bad deb General expenses 49.918 76.956 126.874 ?7 ??7 1.501 30.377 ?57.604 1.501 1.059 176 .423 550 .0?7 1.059 176 1,4?3 550 1.0?7 948 948 191 010 107 333 399 343 li
The L4)ndon Musical Theatre Orch&4tr Notes to the Financial Statements (eont'd) For the year ended 30 April 2024 Exp¢Dditur¢ on eharitable a¢tiYltits (con¢'d) 2023 Unrestrieted Restricted fuDds fulldj Total Cost of productions Musicians. production and support personnel fees Insurance Compth¢r 50ftware and mainienance costs Printing, postage and stationery Travel and subsistence Advertj5ing and promotion Accountsncy Charitsble dotL10n Depreciation G¢iieral ewnses 40.580 •1.108 61.688 ?36.579 1.385 51.011 ?87.590 1.385 1.9?3 1.973 ?.468 1.454 5.445 1.050 ?00 987 1,411 ?,468 1.454 5.445 1.050 2¢XI 987 1.761 350 ?93,48? 7? 469 365.951 5 Staff costs ind Trustees, remuBer8tSon Included in expenditure on charitable activities are the following stsff costs: 2024 2023 Salaries Social security costs Pension costs 47.899 22.357 893 50.178 No trustees have received any remuneration from the charity during the vear. No tnLStees have received any reimbursed exse5 or an), other benefits from the charity during the year.
The London Musical Theatre Orchestrn Notes to the Financial Ststements (cont'd) For the year ended 30 April 2024 Txtion The company is a regislered charity and as such its income and gains falling within Sections 471 to 489 of the CorsK)ration Tax Ad 2010 or Section ?56 orth¢ T&xatii)n of Chargeable Gains Acl 199? are exempt from corporaiion io the exteni that they are applied to its charitsble objectives. Tangible Fixed Assets Equlpment Crft As at l May 20?3 Additions in year As ai 30 April !0?4 4.936 4.936 Deprecigtion As at l May ?023 Charge for the vear As at 30 April ?0?4 948 3.490 Net Bk Value As at 30 April 2024 As ai 30 April 2093 1,446 2.394 Debtor• 2024 2023 Other debtors PrLpa¥ments 18.0?8 379 18.407 12.579 1,57 Credltors: amounts f*lllttg due Ivilhin one year 21124 2023 Chher tax and social security (hher creditors Accruals 7.358 57,39? 39.855 ?.655 ?5.981 550 104.605 29,186
The L4)Ddon Musical Theatre Orchestra Notes to the Financial Statements (cont'd) For the year ended 30 April 2024 AO Reeoneiliation of movement on funds BlanLY #t Incorning I MAY 2023 Expended B&lxDee •t resources 30 April 2024 Unrestricted funds General Restrleted funds 7.719 96.978 ?93.17? 48.331 {?9? 010) (107.333) 8.881 37.976 104.697 341.503 399.343 46.857 I l An#19 of Det assets between hDd$ General fllnd Reslriete41 fund Toll funds Fixed asse15 Currenl assets Currem liabilities 1.446 150,016 (104.605) 43,165 (35.730) 106,851 {68,875) Net assets at 30 ApTiI ?0?4 8.881 37,976 46.857 G¢ryeral fund Restricted Total funds ruDd Fixed assels Current &ssets Curreni liabilitics 2.394 31.97? (26,647) ?.394 131.489 {?9.186> 99,517 Net assets at 30 April ?0!3 7.719 96,978 104.697 12 Members, Aiability The London Musical Theatre Orchestr4 a registered chariry, is a company limited by. guarantee not having a share capital. Each of the members is liable io contribute an amount not exceeding £nil wwards the assets of th¢ cofftpan). in the event of it5 winding up. 14
The London Musical Theatre Orchestr8 Notts to tbe Finaneial Statements (collt'd) For the year ended 30 April 2024 14 Relgted party trnnsaclions During the year costs of £14.781.50 (2023: £?.050) were incurred for room hire al Bishopsgate Institute. At 30 April 9024 £10.15?.IX) w&8 outsianding (20?3.. £nil). B Tshopsgate I$t[lute is considered to be a related party as Frnncesca Canry is a Trustee of The London Musical Theatre 0hestra and the Chief Executive of BIshopse Institute. 15