Charity number: 1178599 


## The Lute Society 

Report and accounts 

for the year ended 31 December 2025 



**Contents                                              The Lute Society** 

**Charity No. 1178599** 

|Report of the trustees|1-4|
|---|---|
|Report of the independent examiner|5|
|Statement of fnancial activities|6|
|Balance sheet|7|
|Notes forming part of the accounts|8-13|





**Report of the trustees                               The Lute Society** _for the year ended 31 December 2025_ 

**Charity No. 1178599** 

The trustees present their report and accounts of the Lute Society (the “Society”) for the year ended 31 December 2025. 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have departed from the Charities (Accounts and Reports) Regulations 2008 which require an earlier Charities SORP, since withdrawn.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 1,037 (2024: 1,081) subscribing members at the end of December, including 518 electronic-only members (2024: 503) who in return for a lower subscription receive the magazine and journal in electronic format. 

|UK<br>Europe<br>USA and Canada<br>Japan<br>Australia and New Zealand<br>Other countries|**2025**<br>**2024**<br>457<br>480<br>312<br>309<br>190<br>210<br>34<br>38<br>36<br>39<br>8<br>5|
|---|---|
||1,037<br>1,081|



## _Magazine and journal_ 

The quarterly magazines for members, _Lute News_ , distributed  to members by post or online, and the _Lutezine,_ available only online _,_ 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. 

1 



**Report of the trustees (continued)            The Lute Society** _for the year ended 31 December 2025_ 

**Charity No. 1178599** 

## _Magazine and journal (continued)_ 

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 2020 journal in 2025, and plans to issue the journal for 2021 and 2022 in 2026.  From the 2025 edition onward, the journal is principally distributed in electronic format, though libraries and other paper subscribers can request a hard copy. 

## _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 _The Ayres that were sung and played at Brougham Castle_ edited by Matthew Spring  and Brian Wright’s new composition _Elegy for_ . _Geoffrey Burgon_ 

We also reprinted _The Art of the Lute in Renaissance  Italy, vol. 3: Intabulations_ formerly published by  Lyre Editions. Works in progress include a new Dowland issue edited by Jan Burgers drawing on research by John Robinson, Dowland’s dramatic works edited by Matthew Spring, intabulations of songs about animals by Betsy Small, Mudarra’s songs edited by Mathew Spring, and a collection of music by Turlough O’Carolan edited by Ronn McFarlane and Ron Andrico for baroque lute. 

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 sell publications of sister organisations. We continue to promote modern lute music, and make compositions by members available for downloading from our webpage. 

## _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 four donated instruments in 2025 valued at £6,300 in total, including a renaissance guitar by Peter Forrester donated by the maker, a bandora donated by Mary Cousen, a gittern donated by Steve Graham, and a 1930 wandervogel donated by Gay Jacklin and the Nightingale family. 

## _Education and outreach_ 

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. 

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  Andrea Damiani and Paula Chateauneuf ,  and included individual tuition and workshops for participants, and opportunities to perform with singers, other instrumentalists and in lute consorts. Seven students were awarded full bursaries from our student bursary fund. The _Lutefest_ will be repeated  in 2026. 

2 



**Report of the trustees (continued)                    The Lute Society** _for the year ended 31 December 2025_ 

**Charity No. 1178599** 

## _Education and outreach (continued)_ 

We encourage members to participate in a variety of lute related activities. A playing day to encourage players of all levels were held in Newcastle, and an informal 'Flow my beers' evening was held in a London pub with opportunities for lutenists to play. The European Lute Orchestra didn’t perform in 2025, but members look forward to participating in their concert at Belluno in Italy in May 2026.  We also maintain links with  related societies worldwide, sending  a representative to meetings of the French Lute Society in Paris and the German Lute Society in Weimar.  As reported in _LuteNews  ,_ individual members have organised lute activities in Italy, Austria, Australia and Japan. 

## **Dowland 400 commemorations** 

2026 marks the four hundredth anniversary of the death of John Dowland, the most famous lutenist from these isles, in 1626. 

To commemorate him, the Society  will contribute £5,000 from the Gillian Brown fund towards a major . Dowland 400 Festival in Norwich in July including talks and performances by leading players over four days 

Other commemorative projects organised by the society include a  Lute Society Dowland edition and website and lessons on Youtube on playing pieces by Dowland, taught by Lynda Sayce and others. In addition, the Society has helped fund the _John Dowland 400th Anniversary Video Project_ , a series of 26 videos shot in historic locations in the UK and Europe with a lute and four singers, directed by Liz Pallett, and released fortnightly on Youtube during 2026. 

## **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 £193,972 (2024: £187,733) including £10,542 (2024: £8,118) in the general fund, £176,170 (2024: £170,020) in the instrument fund, £7,240 (2024, 9,240) in the Gillian Brown fund, and £20 (2024: £355) in the student bursary fund. 

## _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 14) 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. 

3 



**Report of the trustees (continued)                    The Lute Society** _for the year ended 31 December 2025_ 

**Charity No. 1178599** 

## **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, became a registered charity on 24 January 2001, and transferred its operations and assets to the CIO on 31 December 2018. 

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 during the year_ David van Edwards, President Sarah Shepley, Chair and website editor David Protheroe, Treasurer Jo Bowen (appointed 3 May, 2025, resigned 16 March) Nancy Carlin Sam Chapman Theodore Diehl (appointed 3 May, 2025) Adam Dzwonnik James Hall (appointed 3 May, 2025) Tom Llewellyn Ciska Mertens Ron Andrico (appointed 3 May, 2025, resigned 14 January 2026) Richard Corran (retired 3 May, 2025) Luke Emmet (retired 3 May, 2025) Peter Jones (retired 3 May, 2025) Alain Verberkmoes (retired 3 May, 2025) 

_Independent examiner_ Michael Gray 

_Officers and co-opted members of the committee_ Christopher Goodwin, Secretary Luke Emmet, Website editor John Reeve, New listings & reviews editor Melody Packard, Internet correspondent 

_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, and Peter Holman 

_Honorary members_ Anthony Bailes, John Robinson, Peter Lay, Dame Emma Kirkby CBE 

Approved by the trustees on 4 April 2026 and signed on their behalf by: 

## **Sarah Shepley, Chair** 

4 



**Charity No. 1178599** 

## **Report of the Independent Examiner to the trustees of The Lute Society on the accounts for the year ended 31 December 2025** 

## **Responsibilities and basis of report** 

I report to the trustees on my examination of the accounts of the Lute Society for the year ended 31 December 2025 on pages 6 to 13. 

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). 

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent examiner’s statement** 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: 

- the accounting records were not kept in accordance with section 130 of the Charities Act; or 

- the accounts did not accord with the accounting records; or 

- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

## **Michael Gray** 

15 Chesterfield Road, Cambridge, CB4 1LN 

4 April 2026 

5 



**Statement of financial activities                    The Lute Society** _for the year ended 31 December 2025_ 

**Charity No. 1178599** 

|Unrestricted<br>Note<br>funds<br>£<br>**Income**<br>_Donations and legacies_<br>Donations of instruments<br>6,300<br>Other donations<br>1,551<br>7,851<br>_From charitable activities_<br>Membership subscriptions<br>3<br>39,853<br>Magazine and journal<br>4<br>280<br>Publications<br>5<br>18,448<br>Hire of instruments<br>6<br>16,133<br>Education and outreach<br>7<br>4,408<br>79,122<br>_Other income_<br>Bank interest<br>1,378<br>**Total income**<br>**88,351**<br>**Expenditure**<br>_On charitable activities_<br>Magazine and journal<br>4<br>44,113<br>Publications<br>5<br>13,133<br>Hire of instruments<br>6<br>9,342<br>Education and outreach<br>7<br>15,189<br>**Total expenditure**<br>**81,777**<br>**Net income/(defcit) for the year**<br>**6,574**<br>_Reconciliation of funds_<br>**Total funds at 1 January**<br>187,378<br>**Total funds at 31 December**<br>**193,952**|Restricted<br>funds<br>£<br>-<br>1,009<br>1,009<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>**1,009**<br>-<br>-<br>-<br>1,344<br>**1,344**<br>**(335)**<br>355<br>**20**|Total<br>**2025**<br>£<br>6,300<br>2,560<br>8,860<br>39,853<br>280<br>18,448<br>16,133<br>4,408<br>79,122<br>1,378<br>**89,360**<br>44,113<br>13,133<br>9,342<br>16,533<br>**83,121**<br>**6,239**<br>187,733<br>**193,972**|_Total_<br>**_2024_**<br>_£_<br>_11,417_<br>_2,156_|
|---|---|---|---|
||||_13,573_|
||||_40,723_<br>_130_<br>_19,774_<br>_15,585_<br>_3,388_|
||||_79,600_|
||||_1,560_|
||||**_94,733_**|
||||_47,796_<br>_12,750_<br>_8,656_<br>_11,160_|
||||**_80,362_**|
||||**_14,371_**<br>_173,362_|
||||**_187,733_**|



6 



**Balance sheet                                                The Lute Society** _at 31 December 2025_ 

**Charity No. 1178599** 

|Note<br>**Tangible fxed assets**<br>9<br>**Current assets**<br>Stock<br>10<br>Debtors<br>Short term deposits<br>Cash and cash equivalents<br>Liabilities: amounts falling due within one year<br>11<br>**Net current assets**<br>**Total assets less current liabilities**<br>Liabilities: amounts falling due after more than one year<br>12<br>Provisions for liabilities<br>13<br>**Net assets**<br>**Funds**<br>_Unrestricted funds_<br>Instrument fund<br>14<br>Gillian Brown Fund<br>14<br>General fund<br>14<br>_Restricted income funds_<br>Student bursary fund<br>15<br>**Total funds**|31 December<br>**2025**<br>**£**<br>177,590<br>5,181<br>3,095<br>40,573<br>24,035<br>72,884<br>(25,798)<br>**47,086**<br>**224,676**<br>(6,842)<br>(23,862)<br>**193,972**<br>176,170<br>7,240<br>10,542<br>193,952<br>20<br>**193,972**|_31 December_<br>**_2024_**<br>**_£_**<br>_171,829_|
|---|---|---|
|||_4,637_<br>_2,539_<br>_40,954_<br>_20,487_|
|||_68,617_<br>_(26,777)_|
|||**_41,840_**<br>**_213,669_**<br>_(4,031)_<br>_(21,905)_|
|||**_187,733_**|
|||_170,020_<br>_9,240_<br>_8,118_|
|||_187,378_<br>_355_|
|||**_187,733_**|



The accounts on pages 6 to 13 were approved by the trustees on 4 April 2026 and signed on their behalf by: 

## **Sarah Shepley, Chair** 

7 



**Notes forming part of the accounts               The Lute Society** _for the year ended 31 December 2025_ 

**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. 

8 



**Notes forming part of the accounts               The Lute Society** _for the year ended 31 December 2025_ 

**Charity No. 1178599** 

## **2. Accounting policies (continued)** 

## _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. 

## _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. Membership subscriptions**<br>Magazine and journal in paper format<br>Magazine and journal in electronic format only<br>**4. Magazine and journal**<br>Income from advertising in magazine<br>_Expenditure_<br>Quarterly magazine production<br>Annual journal production<br>Distribution<br>Design software<br>Share of support costs (note 8)<br>Net expenditure on magazine and journal<br>**5. Publications**<br>Income from sales of publications<br>_Expenditure_<br>Printing to order<br>Stock items sold (note 10)<br>Postage and packing<br>Share of support costs (note 8)<br>Net income on publications|**2025**<br>24,990<br>14,863<br>39,853<br>280<br>10,989<br>2,695<br>13,036<br>438<br>16,955<br>44,113<br>43,833<br>18,448<br>3,112<br>2,273<br>4,664<br>3,084<br>13,133<br>5,315|**_2024_**<br>_26,195_<br>_14,528_|
|---|---|---|
|||_40,723_|
|||_130_|
|||_10,512_<br>_3,097_<br>_16,079_<br>_415_<br>_17,693_|
|||_47,796_|
|||_47,666_|
|||_19,774_|
|||_2,980_<br>_1,814_<br>_5,152_<br>_2,804_|
|||_12,750_|
|||_7,024_|



9 



**Charity No. 1178599** 

## **Notes forming part of the accounts               The Lute Society** 

_for the year ended 31 December 2025_ 

|**6. Hire of instruments**<br>Income from hire of instruments<br>_Expenditure_<br>Repairs and maintenance<br>Impairment of instruments<br>Instrument administration<br>Share of support costs (note 8)<br>Net income from hire of instruments<br>**7. Education and outreach**<br>Income from concert tickets and refreshments<br>_Expenditure_<br>Public meetings: performers and lecturers<br>Venue hire<br>Dowland 400 commemoration - video project<br>Bursaries awarded from Student Bursary Fund<br>Other bursaries awarded<br>Residential course administration<br>Travel to meetings and events<br>Exhibition stall<br>Subsidy for playing days<br>Public liability insurance<br>Share of support costs (note 8)<br>Net expenditure on education and outreach|**2025**<br>16,133<br>4,512<br>150<br>3,018<br>1,662<br>9,342<br>6,791<br>4,408<br>5,895<br>2,666<br>2,000<br>1,344<br>244<br>819<br>725<br>330<br>300<br>168<br>2,042<br>16,533<br>12,125|**_2024_**<br>_15,585_|
|---|---|---|
|||_3,149_<br>_-_<br>_3,428_<br>_2,079_|
|||_8,656_|
|||_6,929_|
|||_3,388_|
|||_4,343_<br>_2,691_<br>_-_<br>_844_<br>_-_<br>_554_<br>_571_<br>_107_<br>_166_<br>_132_<br>_1,752_|
|||_11,160_|
|||7,772|



## _Prior year adjustment_ 

Costs totalling £925 for residential course administration, exhibition costs and certain travel which were previously classified as support costs in 2024 have been reclassified under education and outreach. Comparative figures including the apportionment of support costs (note 8) have been restated. 

10 



**Charity No. 1178599** 

## **Notes forming part of the accounts               The Lute Society** _for the year ended 31 December 2025_ 

|**8. Support costs**<br>Secretary's fee<br>Bank charges<br>Ofce costs<br>General travel<br>_Apportionment of support costs to charitable activities_<br>Magazine and journal (note 4)<br>Publications (note 5)<br>Hire of instruments (note 6)<br>Education and outreach (note 7)|**2025**<br>20,447<br>1,922<br>1,071<br>303<br>23,743<br>16,955<br>3,084<br>1,662<br>2,042<br>23,743|**_2024_**<br>_20,904_<br>_1,783_<br>_1,341_<br>_300_|
|---|---|---|
|||_24,328_|
|||_17,693_<br>_2,804_<br>_2,079_<br>_1,752_|
|||24,328|



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 (2024: £nil). 

## _Prior year adjustment_ 

Costs totalling £925 for residential course administration, exhibition costs and certain travel which were previously classified as support costs in 2024 have been reclassified under education and outreach (note 7). Comparative figures including the apportionment of support costs have been restated. 

|**9. Tangible fxed assets**<br>_Cost or valuation_<br>At 1 January 2025<br>Acquisitions - donated<br>Acquisitions - purchased<br>At 31 December 2025<br>_Accumulated depreciation and impairments_<br>At 1 January 2025<br>Charge for the year<br>At 31 December 2025<br>_Net book value_<br>At 31 December 2025<br>_At 31 December 2024_||Instruments<br>for hire<br>171,870<br>6,300<br>-<br>178,170<br>1,850<br>150<br>2,000<br>176,170<br>_170,020_||Ofce<br>equipment<br>3,176<br>-<br>55<br>3,231<br>1,367<br>444<br>1,811<br>1,420<br>_1,809_|Total<br>175,046<br>6,300<br>55|Total|
|---|---|---|---|---|---|---|
||||||181,401||
||||||3,217<br>594||
||||||3,811||
||||||177,590||
||||||_171,829_||



## _Capital commitments_ 

The society has no capital commitments (2024: £800  for repairs to a recently donated lute). 

11 



**Notes forming part of the accounts               The Lute Society** _for the year ended 31 December 2025_ 

**Charity No. 1178599** 

|**10. Stock**<br>Held for resale<br>Consumables<br>_Movement of stock_<br>At 1 January<br>Acquired<br>Stock items sold (note 5)<br>Postage<br>At 31 December|Held for resale <br>3,404<br>1,069<br>(2,273)<br>-<br>2,200|Held for resale <br>3,404<br>1,069<br>(2,273)<br>-<br>2,200|Consumables<br>1,233<br>4,262<br>-<br>(2,514)<br>2,981||
|---|---|---|---|---|
||||||
||||||
|||2,200|||



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. 

|**11. Current liabilities**<br>Trade creditors<br>Due to secretary<br>_Deferred income:_<br>Subscriptions and hire income received in advance for the following year<br>**12. Liabilities: amounts falling due after more than one year**<br>_Deferred income_<br>Subscriptions received in advance for more than one year ahead<br>**13. Provisions for liabilities**<br>Magazine expected to be produced in the following year<br>Journal expected to be produced in the following year<br>Journal expected to be produced more than one year ahead<br>_Movement in provisions_<br>At 1 January<br>Utilised in the year<br>Increase in provision<br>At 31 December|**2025**<br>4,962<br>2,447<br>18,389<br>25,798<br>6,842<br>6,912<br>7,800<br>9,150<br>23,862<br>21,905<br>(8,774)<br>10,731<br>23,862|**_2024_**<br>_8,231_<br>_5,904_<br>_12,642_|
|---|---|---|
|||_26,777_|
|||_4,031_|
|||_4,905_<br>_7,200_<br>_9,800_|
|||_21,905_|
|||_19,359_<br>_(8,213)_<br>_10,759_|
|||_21,905_|



12 



**Notes forming part of the accounts               The Lute Society** _for the year ended 31 December 2025_ 

**Charity No. 1178599** 

|**14. Unrestricted funds**<br>_Movement in year_<br>At 1 January<br>Net income/(expenditure)<br>At 31 December||Instrument<br>170,020<br>6,150<br>176,170||Gillian Brown<br>9,240<br>(2,000)<br>7,240||General<br>8,118<br>2,424<br>10,542|**2025**<br>Total<br>187,378<br>6,574<br>193,952|**_2024_**<br>_Total_<br>_172,608_<br>_14,770_|
|---|---|---|---|---|---|---|---|---|
|||||||||_187,378_|



## _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, which the trustees designated as an unrestricted fund to be spent over five years on strategic initiatives to extend the Society’s impact. In 2025, £2,000 was spent to support Liz Pallett's project of making video recordings of all Dowland’s works for release fortnightly during 2026. 

## **15. Restricted funds** 

|**15. Restricted funds**|||
|---|---|---|
|_Student bursary fund_<br>At 1 January<br>Donations received<br>Bursaries awarded<br>At 31 December|**2025**<br>355<br>1,009<br>(1,344)<br>20|**_2024_**<br>_754_<br>_445_<br>_(844)_|
|||_355_|



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. 

## **16. Related party transactions** 

Trustees received £42 (2024: £615) 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. One trustee claimed expenses of £125 (2024: two trustees £326). 

|_Specialist services provided by trustees_<br>Service provided<br>Royalties on working drawings/ book sales<br>Repairs to lutes for hire|Trustee<br>David van Edwards<br>Luke Emmet|**2025**<br>42<br>-<br>42|**_2024_**<br>_30_<br>_585_|
|---|---|---|---|
||||_615_|



No other trustee or person connected with a trustee has been paid remuneration or received other benefits from the  Society. 

13 

