Charity number: 1178599
## The Lute Society
Report and accounts
for the year ended 31 December 2024
1
**The Lute Society**
**Charity No. 1178599**
**Contents**
|Report of the trustees|1-3|
|---|---|
|Statement of fnancial activities|4|
|Balance sheet|5|
|Notes forming part of the accounts|6-10|
|Report of the independent examiner|11|
2
**Report of the trustees** _for the year ended 31 December 2024_
**The Lute Society**
**Charity No. 1178599**
The trustees present their report and accounts of the Lute Society (the “Society”) for the year ended 31 December 2024. The accounts have been prepared in accordance with the second edition of SORP (FRS 102) (“the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard 102”), FRS 102 itself, the Charities Act 2011 and UK Generally Accepted Accounting Practice.
In following SORP (FRS 102), the accounts have departed from the Charities (Accounts and Reports) Regulations 2008 which require an earlier Charities SORP, since withdrawn. This departure is as advised by the Charity Commission and is only to the extent required to provide a ‘true and fair view’.
## **Objectives and activities**
The objects of the Society are to advance the study of, and to educate the public in, the history, playing technique, music, construction and other aspects of the lute and related instruments.
To further these objectives the Society produces a quarterly magazine for members and an annual scholarly journal; publishes editions of sheet music for the lute; maintains a collection of lutes and related instruments available for hire; and holds regular public meetings, mostly in London, with presentations of research papers and performances of lute music
In setting our objectives and planning our activities the trustees have given careful consideration to the Charity Commission’s public benefit guidance.
## **Achievements and performance**
Further details of our activities, publications and lutes available for hire can be found on our website at www.lutesociety.org.
## _Membership_
Anyone interested in the lute, whether as a maker, player, student, musicologist, or for whatever reason, is welcome to become a member for a modest subscription. Concessionary subscriptions are available. There were 1,081 (2023: 1,092) subscribing members at the end of December, including 503 electronic-only members (2023: 453) who in return for a lower subscription receive the magazine and journal in electronic format.
|UK
Europe
USA and Canada
Japan
Australia and New Zealand
Other countries|**2024**
480
309
210
38
39
5
1,081|**_2023_**
_466_
_302_
_232_
_43_
_40_
_9_|
|---|---|---|
|||_1,092_|
## _Magazine and journal_
The quarterly magazine for members, _Lute News_ , distributed to members by post or on-line, and the _Lutezine,_ available to them on-line _,_ include articles on subjects related to the lute, and a music supplement with sheet music not generally accessible otherwise. New members are sent an introductory _New members’ pack_ with a selection of sheet music for the lute.
The annual scholarly journal, _The Lute_ , is produced in arrears, and is sent to those who were members of the Society for the relevant year. The Society published the 2019 journal in 2024, and plans to issue the journal for 2020 and further journals in 2025.
From the 2025 edition onward, the journal will principally be distributed in electronic format, except for libraries and other paper subscribers who request a hard copy.
1
**Report of the trustees (continued)** _for the year ended 31 December 2024_
**The Lute Society**
**Charity No. 1178599**
## _Publications_
We publish sheet music editions, working plans, and other publications relating to the lute and related instruments. Popular titles are pre-printed externally in bulk and held in stock, while others are printed to order in-house. During the year, new editions published by the society included Lynda Sayce's _21 Lessons for Beginners_ , a collection of German music for beginners and intermediate players _Preambulum_ , edited by John Robinson, and _Historical Wire-Strung Instrument Construction_ by Peter Forrester (jointly published with the Fellowship of Makers and Researchers of Historical Instruments). We also reprinted _The Art of the Lute in Renaissance Italy, vol. 2: Dances_ , formerly published by Lyre Editions. Work in progress includes editions of the works of Daniel Bacheler and François Dufault, and a facsimile edition of Playford’s _Choice Ayres, Songs and Dialogues_ .
We also sell publications from other publishers who are no longer active including the Brian Jordan/Scolar Press editions of English Ayres and early guitar music from Chanterelle, and retail the publications of sister organisations, such as the Dutch Lute Society’s _The Lute Music published by Pierre Phalèse_ . We continue to promote modern lute music, and make compositions by members available for downloading from our web page.
## _Hire of instruments_
Our collection of lutes and similar instruments enables potential players to experiment before buying their own instrument. The more unusual instruments in the collection, including lutes of different sizes and tunings, enable groups to perform the particular works requiring these instruments, and the smaller lutes encourage children to take up the lute.
We received five donated instruments, valued at £11,417 in total, including three renaissance lutes bequeathed by Geoff Kitching, Bill Wheeler and Philip Colcutt, another renaissance lute donated by Peter Forrester, and a baroque lute donated by Charles Brown. Tom Knight donated a case for another instrument. A further £1,297 was spent on cases and restoration work to bring donated instruments up to playing standard.
## _Public meetings_
We hold regular public meetings, normally at the Dutch Church in London, which include the presentation of papers, and live performances of music for the lute and similar instruments either in a formal concert setting to illustrate papers. Attendance at the meetings is free for members of the public but there is an admission fee for the main recital at the end of the day. Parts of the meetings are recorded so that members unable to attend can view them later on-line.
## _Educational and outreach activities_
Benslow Music Trust held a four day educational course, the 'Lutefest', at Hitchin in Hertfordshire, in association with the Society. It was led by Lynda Sayce, Jacob Heringman, Matthew Spring and Sara Stowe, with guest tutors Xavier Diaz-Latorre and Sam Brown, and included individual tuition and workshops for participants, and opportunities to perform with singers, other instrumentalists and in lute consorts. This year, five students were awarded full bursaries from our student bursary fund. The ‘Lutefest’ will be repeated in 2025.
We encourage members to participate in a variety of lute related activities. Playing days to encourage players of all levels were held in Bristol and in Yorkshire, and an informal 'Flow my beers' evening was held in a London pub, with opportunities for lutenists to play. A few of our members joined the European Lute Orchestra for their concert in Aix-en-Provence. We also maintain links with related societies worldwide, and sent a representative to a meeting of the French Lute Society in Paris.
## **Volunteers**
We are indebted to the considerable work done voluntarily by its members and others which include editing publications and getting them ready for publication, contributions to the magazine and journal, helping at public meetings, particularly with the catering, and serving on the committee.
## **Financial review**
Funds at the end of the year were £187,733 (2023: £173,362) including £8,118 (2023: £5,654) in the general fund, £170,020 (2023: £157,306) in the instrument fund, £9,240 (2023, 9,648) in the Gillian Brown fund, and £355 (2023: £754) in the student bursary fund.
2
**Report of the trustees (continued)** _for the year ended 31 December 2024_
**The Lute Society**
**Charity No. 1178599**
## **Financial review (continued)**
## _Reserves policy_
The reserves policy is to set the instrument fund equal to the value of instruments held in fixed assets, to keep the Gillian Brown fund (see note 13) for special projects, and to maintain the remaining reserves in a general fund at a level where income covers expenditure (excluding one-off costs) year on year. The financial risks of rising and falling demand are managed by matching expenditure on activities to the related income where possible. Our cash surplus results in part from membership subscriptions received up to three years in advance and the backlog of annual journals for previous years not yet produced. We consider this policy is adequate to cover future contingencies: additional cash needs can be met by the sale of instruments.
## **Structure, governance and management**
The Lute Society is a Charitable Incorporated Organisation (CIO), charity no. 1178599, formed under a constitution dated 5 May 2018. It is the successor to the unincorporated Lute Society, which was formed in 1956 and became a registered charity on 24 January 2001, and which transferred its operations and assets to the CIO on 31 December 2018.
During the year we became aware that under the constitution the appointments of trustees at previous AGMs were defective if they hadn't been named in the notice of that AGM. To correct the position, David van Edwards and Kevin Drake, the only validly elected trustees, ratified the appointment of the other trustees, and those trustees stood for re-election and were re-elected at the AGM on 20 July.
As trustees, the elected members of the committee examine the major risks which the Society faces when preparing and updating plans for future activities.
_Principal office_
3 Dolcey Way, Sharnbrook, Bedfordshire, MK44 1LE
_Charity trustees_
David van Edwards, President Luke Emmet, Chair and website editor David Protheroe, Treasurer Nancy Carlin Sam Chapman Richard Corran Adam Dzwonnik (appointed 20 July 2024) Peter Jones Tom Llewellyn (appointed 20 July 2024) Ciska Mertens Sarah Shepley Alain Verberkmoes Kevin Drake (retired 20 July 2024) Martin Hudson (resigned 16 April 2024)
_Independent examiner_ Michael Gray
_Officers and co-opted members of the committee_
_(non-voting)_ Secretary: Christopher Goodwin New CD listings, reviews editor: John Reeve Internet correspondent: Melody Packard
_Other roles_
Lute hire administrators: Bridgewood & Neitzert Plans administrator: Bruce Brook Microfilm librarian: John Reeve Magazine editor: Christopher Goodwin Journal editor: Christopher Goodwin
## _Editorial sub-committee:_
Michael Lowe, Tim Crawford, John Robinson, Peter Forrester, Matthew Spring, David van Edwards, Christopher Page, Peter Holman _Honorary members_ Anthony Bailes, John Robinson, Peter Lay, Dame Emma Kirkby CBE
Approved by the trustees on 12 April 2025 and signed on their behalf by:
**Luke Emmet, Chair**
3
**Statement of financial activities** _for the year ended 31 December 2024_
**The Lute Society**
**Charity No. 1178599**
|Note
**Income**
Donations of instruments
Donations to student bursary fund
Other donations
_from charitable activities_
Membership subscriptions
Magazine and journal
3
Publications
4
Hire of instruments
5
Public meetings
6
_other income_
Bank interest
**Total income**
**Expenditure**
_on charitable activities_
Magazine and journal
3
Publications
4
Hire of instruments
5
Public meetings
6
Awards of student bursaries
**Total expenditure**
**Net income/ (defcit) for the year**
_Reconciliation of funds_
Total funds at 1 January
**Total funds at 31 December**
13, 14|Unrestricted
funds
£|Restricted
funds
£|Total
**2024**
£
11,417
445
1,711
13,573
40,723
130
19,774
15,585
3,388
79,600
1,560
**94,733**
839
48,469
12,857
8,735
9,457
844
**80,362**
**14,371**
173,362
**187,733**|_Total_
**_2023_**
_£_|
|---|---|---|---|---|
||11,417
-
1,711|-
445
-|11,417
445
1,711|_4,300_
_900_
_1,213_|
||13,128|445||_6,413_|
||40,723
130
19,774
15,585
3,388|-
-
-
-
-|40,723
130
19,774
15,585
3,388|_39,231_
_255_
_17,070_
_14,643_
_1,742_|
||79,600
1,560
**94,288**
48,469
12,857
8,735
9,457
-
**79,518**
**14,770**
172,608
**187,378**|-
-
**445**
-
-
-
-
844
**844**
**(399)**
754
**355**||_72,941_
_1,117_|
|||||**_80,471_**|
|||||_42,429_
_15,438_
_7,468_
_7,911_
_503_|
|||||**_73,749_**|
|||||**_6,722_**
_166,640_|
|||||**_173,362_**|
4
**Balance sheet**
**The Lute Society**
**Charity No. 1178599**
_at 31 December 2024_
|Note
**Tangible fxed assets**
8
**Current assets**
Stock
9
Debtors
Short term deposits
Cash and cash equivalents
Liabilities: amounts falling due within one year
10
**Net current assets**
**Total assets less current liabilities**
Liabilities: amounts falling due after more than one year
11
Provisions for liabilities
12
**Net assets**
**Funds**
_Unrestricted funds_
Instrument fund
13
Gillian Brown Fund
13
General fund
13
_Restricted income funds_
Student bursary fund
14
**Total funds**|31 December
**2024**
**£**
171,829
4,637
2,539
40,954
20,487
68,617
(26,777)
41,840
213,669
(4,031)
(21,905)
**187,733**
170,020
9,240
8,118
187,378
355
**187,733**|_31 December_
**_2023_**
**_£_**
_158,659_|
|---|---|---|
||||
|||_2,885_
_2,217_
_40,761_
_14,938_|
|||_60,801_
_(22,711)_|
|||_38,090_|
|||_196,749_
_(4,028)_
_(19,359)_|
|||**_173,362_**|
|||_157,306_
_9,648_
_5,654_|
|||_172,608_
_754_|
|||**_173,362_**|
The accounts on pages 4 to 10 were approved by the trustees on 12 April 2025 and signed on their behalf by:
## **Luke Emmet, Chair**
5
**Notes forming part of the accounts** _for the year ended 31 December 2024_
**The Lute Society**
**Charity No. 1178599**
## **1. General**
The Lute Society is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England and Wales under number 1178599. Its principal office is at 3 Dolcey Way, Sharnbrook, Bedfordshire, MK44 1LE.
## **2. Accounting policies**
## _Basis of preparation_
The accounts have been prepared in accordance with the Charities SORP (FRS 102) second edition, FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice.
## _Accounting convention_
The accounts have been prepared under the historical cost convention as modified by the inclusion of donated assets at fair value in 1997 or at the date of acquisition if later. Expenditure is accounted for on an accruals basis.
## _Going concern_
The trustees consider the Society is a going concern as there are no material uncertainties affecting its ability to continue and it is able to manage its costs in line with income.
## _Support costs_
Support costs are apportioned to activities to present the costs of those activities fairly, in proportion to the related income, the purpose of the expenditure, or the secretary’s time on each activity.
## _Fixed assets_
Fixed assets are recorded at cost or, if donated to the Society, at their fair value on the date of the gift. Depreciation is provided at 20% a year on cost for office equipment in order to write it off over its estimated useful life. No depreciation is provided on instruments for hire because of their high residual value. Fixed assets are regularly assessed for impairment, and written down if impaired.
## _Stock_
Stock is recorded at the lower of cost of net realisable value. Because of the long periods over which stock for resale is held, ten years or more, and the uncertainty over future sales, net realisable value is generally taken as zero once a title reaches its break-even point. The effect of this is that stock for resale is written down by cumulative sales until the value of the stock reaches nil. Any further sales are credited directly to income.
Slow moving stock is assessed for impairment at the end of each year, and impairment losses are recognised or reversed accordingly.
## _Deferred income_
Subscriptions paid in advance are carried forward in the balance sheet as deferred income. Deferred income is discounted by the time value of money, if material, over the period until it is expected to be settled.
## _Provisions_
The costs of printing and distributing the annual journal and quarterly magazines are provided in the year to which the journal or magazine relates because members are entitled to receive a copy for each year that they belong. The provision is discounted by the time value of money over the period until it is expected to be settled, if material.
## _Funds_
Funds are moneys set aside for specific purposes. A fund may be _restricted_ if it represents donations received for the specific purpose and cannot legally be spent otherwise, or _unrestricted_ if the trustees have simply earmarked the moneys for particular projects. Income and expenditure of funds may be attributed directly to the funds or be accounted for as a transfer from or to the General fund.
6
**Notes forming part of the accounts** _for the year ended 31 December 2024_
**The Lute Society**
**Charity No. 1178599**
## **2. Accounting policies (continued)**
## _Donated goods and services_
Donated goods are recognised at fair value at the date of the donation. Donated services are measured at the value of the gift to the Society. No accounting value however is placed on the time contributed by volunteers because it is impractical to calculate reliably.
## _Cash flow statement_
No cash flow statement has been presented as FRS102 exempts small entities from disclosing cash flows.
|**3. Magazine and journal**
Income from advertising in magazine
_Expenditure_
Quarterly magazine printing
Annual journal printing
Design software
Distribution
Adjustment - increase in postage costs for previous years' journals
Journal & magazine support
Net expenditure on magazine and journal
**4. Publications**
Income from sales of publications
_Expenditure_
Printing to order
Cost of sales from stock (note 9)
Postage and packing
Publication - support
Net income on publications
**5. Hire of instruments**
Income from hire of instruments
_Expenditure_
Repairs and maintenance
Instrument administration
Hire – support
Net income from hire of instruments|**2024**
130
10,512
1,297
415
16,079
1,800
18,366
48,469
48,339
19,774
2,980
1,814
5,152
2,911
12,857
6,917
15,585
3,149
3,428
2,158
8,735
6,850|**_2023_**
_255_|
|---|---|---|
|||_10,721_
_724_
_596_
_13,664_
_-_
_16,724_|
|||_42,429_|
|||_42,174_|
|||_17,070_|
|||_5,220_
_1,238_
_5,164_
_3,816_|
|||_15,438_|
|||_1,632_|
|||_14,643_|
|||_2,427_
_3,280_
_1,761_|
|||_7,468_|
|||_7,175_|
7
**The Lute Society**
**Charity No. 1178599**
## **Notes forming part of the accounts**
_for the year ended 31 December 2024_
|**6. Public meetings**
Income from concert tickets and refreshments
_Expenditure_
Performers and lecturers
Hire of venue
Secretary’s travel to public meetings
Public liability insurance
Meetings support
Net expenditure on public meetings
**7. Support costs**
Secretary's fee
Bank charges
Ofce costs
Education and outreach
General travelling expenses
Publicity
_Apportionment of support costs to charitable activities_
Magazine and journal (note 3)
Publications (note 4)
Hire of instruments (note 5)
Public meetings (note 6)|**2024**
3,388
4,343
2,691
473
132
1,818
9,457
6,069
20,904
1,783
1,341
818
300
107
25,253
18,366
2,911
2,158
1,818
25,253|**2023**
_1,742_|
|---|---|---|
||||
|||3,120
_2,604_
_484_
_96_
_1,607_|
|||_7,911_|
|||_6,169_|
|||19,691
_1,439_
_1,173_
_787_
_399_
_419_|
|||_23,908_|
|||16,724
_3,816_
_1,761_
_1,607_|
|||23,908|
Support costs are apportioned to charitable activities in proportion to the secretary’s time on the activity or, for bank charges, to the relevant income.
The independent examiner received no remuneration (2023: £nil).
|**8. Tangible fxed assets**
_Cost or valuation_
At 1 January 2024
Purchases
Donations
Disposals
At 31 December 2024
_Accumulated depreciation and impairments_
At 1 January 2024
Charge for the year
Disposals
At 31 December 2024
_Net book value_
At 1 January 2024
At 31 December 2024|Instruments
for hire
159,156
1,297
11,417
-
171,870
1,850
-
-
1,850
170,020
_157,306_||Ofce
equipment
2,660
591
-
(75)
3,176
1,307
135
(75)
1,367
1,809
_1,353_|Total
161,816
1,888
11,417
(75)|
|---|---|---|---|---|
|||||175,046|
|||||3,157
135
(75)|
|||||3,217|
|||||171,829|
|||||_158,659_|
_Capital commitments_
The society has committed £800 for repairs to a recently donated lute to bring it to playing condition (2023: £nil).
8
**Notes forming part of the accounts The Lute Society**
**Charity No. 1178599**
_for the year ended 31 December 2024_
|**9. Stock**
Held for resale
Consumables|**2024**
3,404
1,233
4,637|**_2023_**
_2,595_
_290_
_2,885_|
|---|---|---|
|Stock held for resale includes facsimiles, modern editions of lute music, working drawings and CDs. Other
publications printed to order are not included in stock. The stock of consumables comprises postage stamps for future
mailings.
_Movement of stock_
**2024**
**_2023_**
Held for resale
Consumables
Total
_Total_
At 1 January
2,595
290
2,885
_3,836_
Acquired
2,592
8,200
10,792
_10,476_
Postage for magazine and journal
-
(2,181)
(2,181)
_(5,159)_
Postage for publications
-
(4,981)
(4,981)
_(4,933)_
Publications sold from stock (note 4)
(1,783)
-
(1,783)
_(1,238)_
General postage
-
(95)
(95)
_(97)_
At 31 December
3,404
1,233
4,637
2,885
**10. Current liabilities**
Trade creditors
8,231
_5,223_
Due to secretary
5,904
_4,691_
_Deferred income:_
Subscriptions and hire income received in advance for the following year
12,642
_12,797_
26,777
_22,711_
**11. Liabilities: amounts falling due after more than one year**
_Deferred income_
Subscriptions received in advance for more than one year ahead
4,031
_4,028_
**12. Provisions for liabilities**
Magazine expected to be produced in the following year
4,905
_4,659_
Journal expected to be produced in the following year
7,200
_8,300_
Journal expected to be produced more than one year ahead
9,800
_6,400_
21,905
_19,359_
_Movement in provisions_
**2024**
**_2023_**
Journal
Magazine
Total
_Total_
At 1 January
14,700
4,659
19,359
_22,116_
Utilised in the year
(3,554)
(4,659)
(8,213)
_(10,116)_
Increase in provision relating to current year
4,054
4,905
8,959
_7,359_
Adjustment - increase in postage costs for previous years
1,800
-
1,800
_-_
At 31 December
17,000
4,905
20,105
_19,359_|Stock held for resale includes facsimiles, modern editions of lute music, working drawings and CDs. Other
publications printed to order are not included in stock. The stock of consumables comprises postage stamps for future
mailings.
_Movement of stock_
**2024**
**_2023_**
Held for resale
Consumables
Total
_Total_
At 1 January
2,595
290
2,885
_3,836_
Acquired
2,592
8,200
10,792
_10,476_
Postage for magazine and journal
-
(2,181)
(2,181)
_(5,159)_
Postage for publications
-
(4,981)
(4,981)
_(4,933)_
Publications sold from stock (note 4)
(1,783)
-
(1,783)
_(1,238)_
General postage
-
(95)
(95)
_(97)_
At 31 December
3,404
1,233
4,637
2,885
**10. Current liabilities**
Trade creditors
8,231
_5,223_
Due to secretary
5,904
_4,691_
_Deferred income:_
Subscriptions and hire income received in advance for the following year
12,642
_12,797_
26,777
_22,711_
**11. Liabilities: amounts falling due after more than one year**
_Deferred income_
Subscriptions received in advance for more than one year ahead
4,031
_4,028_
**12. Provisions for liabilities**
Magazine expected to be produced in the following year
4,905
_4,659_
Journal expected to be produced in the following year
7,200
_8,300_
Journal expected to be produced more than one year ahead
9,800
_6,400_
21,905
_19,359_
_Movement in provisions_
**2024**
**_2023_**
Journal
Magazine
Total
_Total_
At 1 January
14,700
4,659
19,359
_22,116_
Utilised in the year
(3,554)
(4,659)
(8,213)
_(10,116)_
Increase in provision relating to current year
4,054
4,905
8,959
_7,359_
Adjustment - increase in postage costs for previous years
1,800
-
1,800
_-_
At 31 December
17,000
4,905
20,105
_19,359_|Stock held for resale includes facsimiles, modern editions of lute music, working drawings and CDs. Other
publications printed to order are not included in stock. The stock of consumables comprises postage stamps for future
mailings.
_Movement of stock_
**2024**
**_2023_**
Held for resale
Consumables
Total
_Total_
At 1 January
2,595
290
2,885
_3,836_
Acquired
2,592
8,200
10,792
_10,476_
Postage for magazine and journal
-
(2,181)
(2,181)
_(5,159)_
Postage for publications
-
(4,981)
(4,981)
_(4,933)_
Publications sold from stock (note 4)
(1,783)
-
(1,783)
_(1,238)_
General postage
-
(95)
(95)
_(97)_
At 31 December
3,404
1,233
4,637
2,885
**10. Current liabilities**
Trade creditors
8,231
_5,223_
Due to secretary
5,904
_4,691_
_Deferred income:_
Subscriptions and hire income received in advance for the following year
12,642
_12,797_
26,777
_22,711_
**11. Liabilities: amounts falling due after more than one year**
_Deferred income_
Subscriptions received in advance for more than one year ahead
4,031
_4,028_
**12. Provisions for liabilities**
Magazine expected to be produced in the following year
4,905
_4,659_
Journal expected to be produced in the following year
7,200
_8,300_
Journal expected to be produced more than one year ahead
9,800
_6,400_
21,905
_19,359_
_Movement in provisions_
**2024**
**_2023_**
Journal
Magazine
Total
_Total_
At 1 January
14,700
4,659
19,359
_22,116_
Utilised in the year
(3,554)
(4,659)
(8,213)
_(10,116)_
Increase in provision relating to current year
4,054
4,905
8,959
_7,359_
Adjustment - increase in postage costs for previous years
1,800
-
1,800
_-_
At 31 December
17,000
4,905
20,105
_19,359_|
|---|---|---|
|||_22,711_|
|||_4,028_|
|||_4,659_
_8,300_
_6,400_|
|||_19,359_|
|||**_2023_**
_Total_
_22,116_
_(10,116)_
_7,359_
_-_
_19,359_|
||||
9
**The Lute Society**
**Charity No. 1178599**
## **Notes forming part of the accounts**
_for the year ended 31 December 2024_
|**13. Unrestricted funds**
_Movement in year_
At 1 January
Net income for the year
Booklet published
Funds transfer: instruments purchased
At 31 December||Instrument
157,306
11,417
-
1,297
170,020||Gillian Brown
9,648
-
(408)
-
9,240||General
5,654
3,353
408
(1,297)
8,118|**2024**
Total
172,608
14,770
-
-
187,378|**_2023_**
_Total_
_166,283_
_6,325_
_-_
_-_|
|---|---|---|---|---|---|---|---|---|
|||||||||_172,608_|
## _Instrument fund_
The instrument fund is an unrestricted fund designated by the trustees to establish a collection of lute and related instruments which the trustees intend to hold permanently for the benefit of the Society.
## _Gillian Brown fund_
Former member Gillian Brown bequeathed £9,648 to the Society in 2022. In 2023 the trustees designated her bequest as an unrestricted fund to be spent over the next five years on strategic initiatives to extend the Society’s impact. This year, £408 was spent on the booklet _Historical Wire-Strung Instrument Construction_ , published jointly with the Fellowship of Makers and Researchers of Historical Instruments. A further £3,000 has been pledged for public concerts at the National Gallery to promote the lute and to support Liz Pallett's project of releasing video recordings of all Dowland’s works during 2025, the four-hundredth anniversary of his death.
## **14. Restricted funds**
|_Student bursary fund_
At 1 January
Donations received
Bursaries awarded
At 31 December|**2024**
754
445
(844)
355|**_2023_**
_357_
_900_
_(503)_|
|---|---|---|
|||_754_|
To encourage greater uptake of the instrument among music students, the society has set up a bursary fund to fund places on short courses such as the Society’s annual residential weekend at Benslow, for students who want to try the lute. It is classed as a restricted income fund, in that any money raised for the fund can only be used for this purpose.
## **15. Related party transactions**
Trustees received £615 (2023: £1,284) in total for specialist services provided to the Society. These were reasonable amounts for the services provided and were pre-agreed by the Society having regard to Charity Commission guidance in respect of the remuneration of trustees. Two trustees claimed expenses of £326 (2023: two trustees £161).
|Specialist service provided
Repairs to lutes for hire
Royalties on working drawings|Trustee
Luke Emmet
David van Edwards|**2024**
585
30
615|**_2023_**
_1,274_
_10_
_1,284_|
|---|---|---|---|
No other trustee or person connected with a trustee has been paid remuneration or received other benefits from the Society.
10
**Charity No. 1178599**
## **Report of the Independent Examiner to the trustees of The Lute Society on the accounts for the year ended 31 December 2024**
I have examined the accounts on pages 4 to 10.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to examine the accounts under section 145 of the Charities Act, to follow procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Charities Act and to state whether particular matters have come to my attention.
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with the Charities SORP (FRS 102) second edition in preference to the earlier Charities SORP issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the financial
statements presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that in any material respect the requirements (a) to keep
accounting records in accordance with section 130 of the Charities Act, and (b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act, have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Michael Gray**
15 Chesterfield Road, Cambridge, CB4 1LN
April 12, 2025
11