Company registration number-. 10221348 Charity ￿gIStratiOn number.. 1180822 I.UDI.OW SOYG TRUSTEES, REPORT AliD UNAUDITF.D FINAIICIAI. STATF.MENTS FOR THE YEAR ENDED 30 JUNE 2025 LudloiTr Son% Page Reference and Administrative Details Tru5tees' Report Independent Ex￿l￿t￿.% Report Siaiem¢nt of Financial A¢tiviii¢s linclllding Income and Exwndimr¢ A¢¢ouni) Balatice She¢t Notes to the Financial Statements Lll￿o￿. SOD2 Rcflrener and Administrntii'e Dctxil$ For The lear EDded 3V JuDe 2025 Trustees Prof lain Burnside Mr Martin Bussey Dr Ewart Carson Mr Paul Ives Prof Anihony Pinching Dr Clare Taylor Dr Dai'id Mclville Company Secretary Ms Toria Banks Chlef Exeeutl%'e Offlctr Prvf Anthuny Pinchin¥ Ch¥4rity Number 180822 Comp*n> flumber 10221348 Reglstered Office 2. Colleg¢ Stre¢1 Ludlow ShropshirL' SY¥ IAN Independent Examlner AndrL'W Fisher BA FCA Tl)e Alanbrc)r>kes Grthup Lid ChanL'fL￿d ALLouniJni 24 Th¢ Ciloi'¢ Faciory Wilt%hir¢ BA146RL Pag¢ I L￿￿0}% SoD2 Compxnv No. 10221348 Tru5tees' Report For The lear EDded JO JuDe 2025 The trustees present their report and the financial statements for the year ended 30 June 2025. ObJeetlve$ &nd Actlvltlt$ Alms and Objectlves To advance. improve ajid tnaintatn public educaiion in and appreciaiion of tlie arl of music and in particular the art of Enblish liinbyii4lgL Sortg, In partlLular btsi noi exclusivLly by holdin¥ art a[￿￿al (Lslival of En¥lish song- Ludlow Enb*lish Svngp Weekend. Publffic Beneflt The main acliviiy undcnaken to further rhe chariry's purw)se was holdin8 the annual fesiival of English song - Ludlow English Song W¢¢k¢nd in April 2024. The Iru8iee% conlimi thai they have complied ￿.1¢h the requirements of Seciion 17 of ihe Charities Aci 2011 10 l)ave dlie regriird lo thc chi￿ rity Commi55Lofi's ¥ULdancc on public bcncfii. A¢hlevement$ #nd Performanet M*ln Aehlevemonts This yLar IhL annual Ludlow Engvlish Song WcckL'nd in April 2025 and this M'as WLII supportLd. Our fiiiJi)Liul potsiii¢)n r¥mÈLin¥ sati¥faclory, with sufficiini funds d¢signai¢d io support ncxi y¢arfs ev¥￿15. Tl)is yLur ul.%u saw uur tir%¢ Ludluw SL)ng Yvun¥ Com[￿¥lr cvcnl. hLld iii Binningham in SLpILinbcr 2024. Thi% LVLnl I'Lry ￿lILLL.￿*rlll and will bL ihL m￿ll[ followLd hLrLdftLr subjcLI lo fundLI)¥. FlnAnelAI Revlew Reserves Polley All ot. Our rescrvL% are Lon.%idcrLd to be free rcwrvcs. and we con%idcr our "Corc rcscrvc" to bc in ihL ordcr £ I 5.000. Thi% %uJn allows a l¢v¢l of prot¢Ltivn agoinAt any turbul¢nre or ¢hang¢s in funding support of th¢ arts s¢¢tor and ¢qually continuc to run othcr cN'cnt5 and providc incinbcr support. Golng Concer Aftcr tnaking appropriatc cnquirics. tlic Truslccs liavc a rcasonablc cxpcclalioii that ilic Coiiip4qiiy ha5 adcqualc rcsourcc5 Io LuniinuL' in OPL'rationdl LxisIL'llLL. fur ihL. fvrL'SLLablL. fuiurL'. Fur ihis fL'ason. IhL'y LuntinuL' Lo ddopl IliL ¥uin¥ LonLLm b35is in prcparing thc financial 5¢Jt¢m¢nt5. Further d¢lai15 r¢¥aiding ihe adopiiorj of the going conrtrn b35LS cali be found in thc accountin¥ policics. Strncture. Governance ￿￿￿￿gement Governing Dn¢um¢nt Ludlow Song 15 rcgistcrcd as a charitablc company limiicd by guarathtcc and was sct up by a Trnsi dccd. Trustee Selection Methods Thc tnanagcmcn( of thc Company is thc rcsponsibility of the Trusiccs who are elected and co-opicd undcr thc tCrn15 of the Tru%t deed. Pag¢ 2 SoD2 Tru$tLi$' Rlpvrt (CO￿tInUed) For The lear EDded 3V JuDe 2025 Other Informatio Member%, Ilxblllty The Members of the c.ompany guarantee to contribute an amount not exceeding £1 to the assets of the CoTnpany in the eveni of ivinding Llp. Statement of Trustees. Responsibilities Th¢ tru%liL% (who are al%ts the director4 tsf LudltsM' for the putpJ*% of ¢tsmparty IJM,) r¢%pon4iblc for prLparirt¥ IhL TrustLxs' Rcport and Ihc fjnancial slaicmcn15 in accordance wilh applicable law and Unitcd Kiiigdom AcLouniing Standards (United Kingdojn Generdlly Accepted Accounting PrdCtic¢). Company law rn'quire& the twsiecs to pr¢parn. financial stai¢m¢nis for ¥a¢h finan¢ial y¢ar. Undw ¢ompany law lh¢ tru4tecs iiiu.%l llot approN'e Ihc finuncial %latcmcni unlc¥¥ ihey are ￿lI￿rIC￿ ihai they givc a truc and fair view of tlic %tdtc of a￿￿1T5 of thc ehariiablc company and of ihL incoinin8 rcsourccs and application of resaurccs. includiiig ihc incoine and expciidirure. ofthL ¢hari¢able company for lha¢ pcriod. In prcparing ihL financial SthiLmenis ihc irnS¢LYs arL fL'quirLd io.. seleLI suitable UCCOLintin& policies and then apply them consistently- observe the nieihods and principles in the Q'harity SORP: mi1kc judgmcnis and acco4in¢ing esiimaies ihai are reasonable and prudeni,. and PTCPtirc Ihc linanLial slalcmcnts on thc gvoing Lonccrn basis uiilcss it is inapprL)prialc lu prc&uinc that ihc Loinpany will ¢oniinu¢ in busin¢ss. ThL IrustLLS aTL rL.%punsiblL fur kLxp1n￿P adLqu<L aLLounlinbT rL*or¢J% ivhich di4Llo* wilh rLu%unablL uLLuruLy ui anyliinL IIIL fiii4LllLl&il po*iiion ufihL LhJriiablL LOmp￿inY and io Lnable ihcin 10 Liisurc IhJi tlic aLLUUillh Loiiiply ￿.1¢h IliL CoinpaiiiLs All 2(1(Ih. Th¥y al4() r¥%p(>n%ibl¥ lor .%atibuarding* ihc of il)¢ LompilJ)y and licnLL lur iJkii)bi rLa¥(Iiidbl¥ glip% Ivr IhL prLVLnliun and dLILxlivn ol- fraud and oihcr iTrcgularilieb. ThL IrustLc% arc rc%ponsiblc for thc m¥intenJncc and inicbiriiy of ihc corporutc and financiul inforniaiion includcd on thc ¢horiidbl¢ ¢ompany'% w¢bbll¢. Legislution in ih¢ Unii¢d Kinbdom gofv¢rnin¥ ihe pr¢puraiion and disbcinii)uiion of fiiiuii¢iul statcmlnts may diffcr from legislalion in other jurisdictions. m411 Comp4ny Rules Thi% rcport has bLLtL prcparcd in accordancc with ihc srKcial provisions rclaling lo companics subjcct lo ihc liinall LompdniL4 rL'uime wiihin PJn 15 ofihL CompaniL% ALI 2006. The tru5tees' report wa5 approved by the tThrd of irustec5 and 5igncd on its bchalf by: Prof Anthony Pin¢hing Tru5te¢ Date Pag¢ 3 LudloiTr Son2 Independent Exxminlr's Rcpvrt to thc Trust¢¢s of Ludloiv Song For The lear EDded 3V JuDe 2025 I report to the charity trustees on tny examination of the accounts of the Company for the year ended 30 June 2025. Responslbllltles Basls of Report As the charity trustees of the Company land also its directors for the purposes of company lawl, you are responsible for the preparation of the accounts in accordance with ihe requirements of ihe Companies Aci 2006 ("Ihe 21K)6 Act,"). Havinbp sdtisfi¢d tny_4elf that th¢ dLLuunls OF th¢ Cumpany nvl requjreil Iv be audited und¢r Part 16 uf lh¢ 2006 ALI Jnd are eligible for independeni examinaiion. I repon in respecl of my examinaiioi) of your chariiy's accouiils as carried out IindLf SLLllOt) 145 01. IhL ChariiiLS Aci 2011 ('IhL 2011 Aci.). In carrying oui my examinaiion I have followed ihe Direcliuns &piven by ¢h¢ Charity under s¥Ltion 145(5} {b) vf the 2011 ALI. Independent ExAmln¢r's Stgtement I have cthmpleted my exaynination. I confirm that no matters have cowne to yny attention in connection with the examinatio giving me cause to believe.. l. abLounting r￿OrdS were no¢ kcpi in res￿￿1 of ihc Coinpany as r￿UIred by sc¢iion 386 of thc 2006 Act: or Ihty uLLuuntS Llu nut aLLor¢J with iho4e reLoriL%- or 3. thL aLLouni.% do not Loinply with the accouniing r￿uiremen1S of s¢¢iion 396 of th¢ 21N)6 ALI oth¢r than any rL'quirLinini thai the aL¥ounis givc a 'truc and fair view. whiLh 1$ not a maiicr con$id¢red as part ol- an indcpenLlcni exliminutivn: or 4. thL dLcount4 haN'¢ not b¢¢n prepar¢d in aeeordan¢e wilh th¢ methods and principl¢4 of the Stdiemcnt ot. RLLvmmLnd¥d Prdclicc fL)r a¢¢L)uniing and rcpoflin¥ by chari¢ie4 applicable to ¢hunt.% hav¢ b¢¢n pr¢par¢d in a¢¢ordan¢¢ with the provisions appli¢abl¢ to ¢ompani¢s subj¢¢t to th¢ ¥inall Lompunics rcgiinc. Qn behalf ofthe board Prof Anthony Pinching Trii&iee Date The notes on pages 7 to 12 forni part ofihese financial siaiemenis. Pag¢ 6 Ludlom. Son2 tes to thl Fina￿Cial Stxt¢ments For The lear EDded 3V JuDe 2025 General Informatlon Ludlow Song is a cotnpany ILmiied by guardnice. ineorpordied in England & Wales. registcred number 10221348 and regi.%iered ¢hanty number I18Q822. The ￿giS1¢[ed 0￿1¢¢ ]% 2, College SiTeet, Ludluw, Shrop8hire, SY8 1 AN. Accounting Polici 2.1. Basis of Preparation of Financial StalemeDts Th¢ firtartLiJl %tatLmLni% have been prLwJtrd in a¢¥tsrJan¢e ￿'11h ih¢ ChaT]l]e￿ SORP (FRS 102) "A¢Louniin¥ and Rcporting by C'harLILCS.' Sialement of Recommcndcd Practice applicable io chariiics prL'paring Ilieir acc£iui)15 in aLcordance wilh the FinanLial RLWrting Siandard applicable in the UK and Republic of Ircland IFRS IU21 ILtliLlivL l Jthuary 20191" FinthLJal RLtN)rtin¥ st￿￿ard 102 "Thl FinanLiJl RcpuTling SiaAdard appliLablL in tl)L UK and Republic of Ircland" and the Companies Aci 2006. The chariiable company is a Public Benefit E.ntiry as defined by FRS 102. 2.2. Fund A¢countln% GLncral funds arc unrcstricicd funds which are available for use al thc discrclion uf thc Truslces in furthLrance of il)L iJiirLII obj¥xliv¥s of th¢ LoJ)Ipany. Tl)¢s¢ funds. compris¢ d¢sib7iiai¢d funds wh¢r¢by Ili¢ Tru￿1¢¢￿ ¥arJiiLirk L¥fidll) dunii¢ion4 rLLLivLd fur fulurL fL¥livals, whilsi Manil￿pingT L￿h avJilablL iin¢J LorL rLsLrvLs in linc with Il)c RL%LrvL% poIiLy. DL4ibTrnJiLxI fund4 compri4¢ unr¢siricied funds that hav¢ b¢¢n set asid¢ by ihe Trnsi¢¢s for particular purpi%c$. Th¢ aim dnd u&L tsl-cach dc4i¥nai¢d fund is sei oul in the noies io ihc linancial trithicmLnts'. Invc8tmcnl incnmc. gains and lo.kscs arc allocatcd io thc appropria￿ fund. 2.3. In¢omlng R¢$our¢¢$ All inL4)n)¥ 1% rL¢v&pni%cd on¢c ihc Company hab. cniiilcmcnt lo ihc inrvin¢ #nd ihc amouni uf incoine r¢¢¢ivublL Lun bl mLa*urLd rllidbly. Cirdnt4 JrL' ineluded in the 8taiement of Financial Activitie% on a receivable basis. The b&lance of income received for %p¢cifi¢ purpo%cs bul not cipcnded during thc p¢riod 15 5hoth'n in th¢ relevai)t fund% on the 14iilync¢ Sheet. Whcrc inLomL is rcccivcd in advancc of cniitlemcni of rcccipi. lis rccoBnLtion is dctcrrcd aiid includLd in creditors a. dLfL'rrcd inLome. Evcry ycar. thc Trustccs asscss the level of donations and dcsignatc a proportion of thc5C to bc car- markcd for thc next yearf.% events and io protect its coniinuance as ￿ndS perniii. These amounis remain part of General fLind.% and hak'e no resiri¢tions. 2.4. Resources Expended Expcndilurc iy rccogniscd on a paid basis and thc amount can bc m&2surcd reliably. Expenditure is ¢la55ifJed by a¢tivity. The costs ofeach activity are made up of the total of diTect costs and shared costs. including support C05t5 ii)volved in Lindenaking each aeiiviiy. Direct costs attributable io a single acti&ity are allocaied directly to that activiry. Shared costs which ¢oniribute to more than one a¢tiviiy and supw)rt Costs whi¢h a￿ not attribuiable io a single a¢tLVlty are apportioned between those activities on a basis cons1Stenl I￿1th the of resources. Expctidilurc on charitable aciiviiics is incurrcd on dirccily undcrtakin8 thc activitics which fi]rthcr thc Company's objeLtive%, well arty &%%ULiaied %uppurt Lu%Is. All expenditure is inclusive of irrecoverable VAT. Pag¢ 7 Ludlom. Son2 Notes to thc FiThxrtrixl Stxtcmint$ lcontitsucd) For The lear EDded 3V JuDe 2025 2.5. C#$h *nd C#$h Equlv*lenl$ Cash and cash Lquivalcnts are basic fjnaneial assets and ineludc cash in hand and deposits held at eall ￿'1[h banks, other.%hort-tem highly liquid Lnve%tmenl% thai mature in no more than ihre¢ mtsrtths from the date of a¢4ui%ition and are readily convertible to a known amouni of cash with insignificant risk of change in value. and bank overdrafts. Income from Donations and Legacies 2025 2024 UnrL'¥trieted UnrL'$tricted fu*d$ funds Donaiions and gifts 10.499 5.935 9.701 2.850 16,414 12,551 4. lrtvesfmont Incvmt 2024 VThr¢strl¢t¢d Unrestrl¢t¢d funds (und5 Hank interest reeeivablc 712 459 5. Other Incom¢ 2025 2024 Unre5trleted UnTe5trl¢ted fund funds Other income 334 Analysi5 of Expenditure 2025 ArtiiitlC5 undertaken directl) Support costs Iscc Trolc 71 {5C¢ llotc 8) Tot#1 Raising tunds estival and events 4.179 12.207 4.179 49.221 37.014 37,014 16,386 53.400 Pag¢ 8 Ludlom. Son2 Notes to thc FiThxrtrixl Stxtcmint$ lcontitsucd) For The lear EDded 3V JuDe 2025 2024 Actii-ities nderiaken dlre¢il.Tr .Support ethsts (see iiote 7) (see note 8) Total Raising funds Festival and events 1,069 7.872 1.069 40,462 32.590 32.5 8.941 41.5.31 Dlrect Costs Festival events Cus1 ul. SL)Id.. Accommi)dation 3.n71 19.7112 Artis15 Food Piano and oihcr hire VL'nLIL. hirL' 255 5.4tio 2,7711 3.679 663 156 'rrdv¥l anLI subsi.%i¢nLc PTC)bpramme c17s1. Phv¢ogTraph¥rlvid¢ograph¢r OihLr direct cxpcnscs 37.014 2024 Fe$tlvAI #nd cvcnt5 Cosl of giJML% sold.. Accommodation Artists 3.373 17.900 869 Commi55ions Food Piano and othrr hirt 170 ..CONTINUED Pag¢ 9 Ludlom. Son2 Notes to thc FiThxrtrixl Stxtcmint$ lcontitsucd) For The lear EDded 3V JuDe 2025 Venue hire 4.989 1,960 2.179 Travel and siibsistence Progratntne costs 32.590 Support Cost5 2025 Ralslng runds Festlvgl and events Tot#1 Gcncral adminis¢raiion'. InsuranLe 499 499 Adi'¢rti%ing and markctiDg cos¢s .SubbLriptiunb Charirable donaiion$ Sundry expense (tovirtliltii¥ i()si¥'. In(icpLndcnl cxumincls fees AccoLinlancy fee% MutLa&TLmcni fec.% 3.667 512 3.667 512 72 326 72 326 810 810 750 9,750 750 41.750 4,179 12,207 l ().3516 2024 Raising FestI￿al and efvents TDt¥l Gcncr&il ddminislralion.. Insuran¢¢ Advcrtising and markcting cost5 .SubsLriptionb Sundry cxpcnscs Governanee cn¥t8-. Indcpindcnt cxamincls fee5 Accountancy fees Management fees 423 423 642 642 427 427 33 33 810 810 750 750 5.856 5.856 1,069 7,872 8,941 Page 10 Ludlom. Son2 Notes to thc FiThxrtrixl Stxtcmint$ lcontitsucd) For The lear EDded 3V JuDe 2025 Jndependtnt Examlntr's ReM￿￿er*¢I0 2025 2024 Independent examination of the financial staiements Oih¢r a%surance services Tax advisory services Other tinancial services 810 810 810 810 10. Average Number of Emplovees AveTUkFe number of employees duringy the year was.. NIL 12024= NIL) I l. Credltors: Amounts b8lllng Due Wlthln One Ve8r 2025 2024 Accruals and d¥fcrrLd incomL 1,560 1.5C)O 12. Movement In Funds A$ 41 l Jvlv 2024 As at .10 June 202S Expendlture Tr*nsfer5 Unr¢strleied fund$ Cicnlral.. Ci¢n¢ral unr¢gtri¢¢ed fund 5.475 50.416 (53.41MII 2,n59 Dc¥ibynat¢d funds 24.906 432 25.338 Tatgl unrestrlcted funds 30.381 51Tr.416 {53.41)Ql 27.397 Tnt#l funds 30,3111 50.41C (53.4001 27.-397 As at l July 2023 A5 at JO June 2024 Income Expendlture Tr&nsfers Unrc5tricted funds GertLrdl.. General unrestricted fund 4.534 42.322 (41.531) 150 5.475 ..CONTINUED Pag¢ll Ludlom. Son2 Notes to thc FiThxrtrixl Stxtcmint$ lcontitsucd) For The lear EDded 3V JuDe 2025 Designated= Designated funds 25.056 11501 24.906 Total unrestricted funds 29.590 42.322 (41.531} 30,381 Total funds 29.590 42.322 (41.531) 30.381 13. Tran$&eilthn$ wlih Trustee$ Noiie of ihe Iru51ees received any remuneration or any other ￿nefItS from an employment Wllh tlie charity or a related ¢niiry diiring rh¢ ciirrenl or pr¢vioLiS year. No tru4t¢c cxpcnscs have bcen incurrLxl. 14. Related Party Disc105ures lain Burnsid¢ is a trusi¢¢ of ti¢rald Finzi Tursi and Ludlow song. ThL Fin£1 Tru¥t mu¢JL a grnni io IhL Lharily in ihc year of£4.935 fur Youn¥ Cuinp%Lr%' EvLni4. Tl)i.s irnll%aLliun wus fully ul arm.% ILn¥¥ih. 15. Cornpany Ilmlt¢d by gllarant¢¢ The compony iq limi¢ed by guarantee and has no share capiial. F.very meinber of ihe company ilndenakes io conlribute to ihe assets of ihe company. in ihe event of a windinb7 up. such an aiiiouni as may be required noi ex¢¢eding £ l. Page 12