Medici Choir Report of the Trustees and unaudited financial statements for the year ended 31 August 2024 Registered Charity number 1182785
Tr.'W)ICI CHOIR RqK>rf oftheTnJstres *)d Unade fmanciaj skltunents 31 AuBst2024 C()N'I"Tr:NTS OF THE FINANCIAL STATEM£Krs F()11 THE YEAR ENDED 31 AUGUST 2024 Ilipi111 l>t' Ihe Tnisiee. 2to4 Si'iliiiirni of Financia l ActivitS 6t07 lu thr FinaniMI Stai¢m¢rtti 8 to 10 InilLllindent Examin¢r's Report . lifkryi Charity Numixy I1¥77115
MTr-I)ICI CHOIR Rq of thc Tr$ and unwjdited financ1 %thnKnts 31 Aubtyst 2024 REPORT OF THE TRUSTEES PUR THE YEAR ENDED 31 AUGvsf 2024 The Trusl¢e& pres¢ni ih¢ir poll Wbth th¢ fman¢ial stalements ol Ihe charity for the year ended 31 Augiiist 2024. The inL51ees have odopted the provi5ioThs of ihe Siarcment of Recomtncndcd Prarticc ISORPI jippli¢able dcc(Truniin¥ standards. The accounls have been Ppad on an ong¥)ing basi8. The hJriiy meets rhe delinitn of a publK benefrt erbithy under FRS102. No reyaiement wds qUId in Indkingihe tnnsiiion 10 FRSIO2. REFEREliCE AND ADMIPilSTRATIVE DETAILS RigislLfL,d Charilv nurnber 118?785 A new Charitable incowrdted Organisaln Wds established on 3 April 2019 Charily Number 1182785 10 repce the Orig81 charity Thumber. AU the ts of Charity Number 1014229 were trdnsferred ovcron l Sepiember 2019_ RL'#151ered office 33 KLnway Road London W5 ORP M Siniih S CJrahdm P C-uuk ' l)earing C tknub K FuliL"r R Cjrimshaw J Lejshinan reb4w¢d .4¢rouTht#nt$ Miihdil Smirh & Cv l)UJ W'a knii Lane Li)iidon NW2 4QY TRUCTURE, GOVERNATrCE ANID MANAGEMENt (Inl'i'rniE)g dotumertt Tlii ilidrily IS ionirtslled by itb cons1ilulM)D and CQDSii¢Utrs a ¢baiitabk irtrorpora(ed owantSatMTrn. Rv¢ruitmtnl 31nd appointment of Aew trustee$ Any ncw appoinim¢Thls QTC at th¢ recommenda¢y)n vf ihe tnw¢¢s. Indurtivn and training of new trustees Illl new Irusiees Lire ¥iven. in Ihe of the boald. su]ent irninirtgand have enough knowledge or IhLir %pecilic t'jvld io underJland the natutr of th¢ ¢haiily artd fully comply wih the charities curren¢ w4 ol. 115 PfuyL55. They r¢qLL io be aware of boih kyal and pmf¢ssv)nal wsponsibiliL*s IiiiIILr chclrity Lind company knw. ltigisicrtxi Charity Number 11¥27¥5
MEDICI CH()IR Rq vf theTnLSlS and uThaudiwl leMen1$ I l August 2024 REPORT OF THE TRUSTELS- coKfiNUED FOR THE YEAR ENDED 31 AUGUST 2024 Organiztioml stnjcture ThL chariiy is run by the trus$ and has Th) full ¢mploy¢es. Related rtIeS ThL'fL' are reldied panies. Risk managemellt Tht Irus(ees have a duty 10 identify atwj review th¢ risks io which Chariiy is ex1 aThJ io ensure apprtyriaie conirols ar¢ in plac¢ 10 provth reasonable u[anC¥ againsi fraud a1 eor. OBJECTIVL% ACTtvrriES AND PUBLIC BENEFrr Charitable Objefts The Lhariiy ex15t5 1() promoit. improve. develop and mainiain public cduLdiioD in dpprcciation of ihe art atMI science ()I' Chor music in all its a5FKcLS by ihc presentation of public chornl conceils and by SULh oiher way5 as the CIO through 115 charily Iwsiees shall dCtLr1ni fn)m lime io lin. Ain and Slratsgies to Achieve l)biects and ExteDd Public Benefil The 1rnsl¢e5 confirm ihai ihey havc complLed with their duty und¥r.SLYii(Jn 4 of the Chariiies Aci 21 lo have due regard lor Ihe public tKnelil. Ovcr the year. IIK ITIL%IL¢s sei Out LhLir plans io Increa and mdximise lh¢ value of ihe charity'5 work and assets for ihi5 purwse. id¢nLifyirbg a number nf streams of work int¢tKied it) achieve that i)re&SL. The puhlic [1(5 d¢livercd by ihe chariiy's work and pldns (or current and fu¢ure 0allonS arL" laid down in Lhc following seciion. Achievement and Perlorniance. ACHIEVEMENT AND PERFORMANCE Rehea1$ & Conferts Term limc wcekly r¢h¥arsals in Coveni Garden {Church of StlaImI Ha]l} during this period were well aiiet)d¢d and, for ihtkK unat>l¥ to aiiend in rSOn on CasIon. we recognised the iYTrefii of a conlinued Zwm ciinnectiTrn 10 eh rLhcarsal. Public r[OMiance$ each iCTTll coniinue 10 ¢fflhraced by m1¢¢1 Choir. This 2023124 se&son w&s again %omewhai experirncnLqI f Medici, covering a joini c(bnL¢n with an old (avvuriie. a concert compri.sing words and music. io a lange of music from nKbre nNKlern ¢omp05ets. Alihough a departure from rhL usual rcpcrtoire the diverse prOgraMn sel vut was approaCd by all with gre enihusiasm and dediLaiion resulting in eaLh concen being extremely well receiv¢d by oui audience. For this we thank mL.mr$hip, David. Ph(be. Conor and Tessa fuT ihe greai sw¢es5es. As wedicied. wc cxpcriered signif¢¢8ni ¢lwiges in relation io cosi uplifts a550¢taied wilh concert$ over reporting W1J. This is expeLird 10 coniinue inio ihe futu asOnS. Membership Wcekly. irt rsOn schedule Saw a coniinued support from exisiing. returning and new rnernber5hip. Thi.% is retlLciLd in the incoTne from MemrShiP which has" risen from £10.492 in ihc previou8 rinancial year ID £1 1.4CK) for 202.112024. We are panicularly pleased io stt Ihe 5UPlX)rt and loyally or mLmbLrship rLiurning during this peri and io hav¢ w¢lcorned quite a few new ialented sin8Lrs i Medici. Wc continu¥ io en¢ovrage ItMr5 Iv reLruii for rehearsa15 in the new financial yLar. R¢ster&I Charity Nurnber I18?78S
MEDICI CHOIR RerMTrn of the Tru5tc¢s and unaudited fjnancial statcmcnts 31 August 2024 REPORT OF THE TRUSTEES- CONTINUED FOR THE YEAR EIYDED 31 AUGUST 2024 Key performance tveThts The Charity gave a public perfom)ance at the end of and a Supplementary charity carol concert in D¢cember 2023. Th¢se w¢re: Verdi Requiem. a joint concert with Portsmouth Choral Unior] in Holy Trinity Sloane Square 12 Decetnber 2023) Charity Carol Concert at ihe Royal Society of Medicine (13 December 2023) Death and Mozan- The comp(Tr5e¢s IL5t year in words and music. in Holy Trinity Sloane Square (22 March 20241 Bruckner and Brass in Si Gabri¢l's Pimlico (28 June 224} Looking ahead to next season 2024r2025 the Charity welcomes a compleie return to in person reh¢arsals in its usual venue for the full memberthip. The benefit ofzoom conneclion lo rehearsals is being retained for occasional use. Our tnusical direction for ihe srason has been developed in conjunciion with David Gostick, wsth tnembership support. io explore beyond our usual 8entes while retaining a sirong link with popular, fatniliar music. This season srretched Medici outside its comfort zones. musically. We worked with The Portsmouth Choral Union for our first concert to put on a gtand perforniance of Verdi Requiern with some 150 voices and 41 insinJm¢nts. It w&8 an expensive endeavour but wa5 an exceptional concert and wonderful experien¢e for all involved. Included in Ihe season plan. and offering mttnbership development and improvement opNTrrtunitie%. ate workshop events relating directly to ihe planned progrdmme for the Seon. W¢ ar¢ looking fon¥ard to further joini concerts in future seasons. For our Deaih and Mozart concert we realised the coftcepi of pieseniing Mozart's final year through choral singing and spoken word. by way of a discourse betwttn the composer and death. This would not have been possibl¢ without membership support and the willingne55 and dedications of Tessa lending her thlents and time to producin¥ the scripi and dire¢tlDg the actor5. It Is hoped ihat the magnitude of ihe Verdi concert and the change in concert design with the Mozart concert will prove popular wilh existing membership. will attraci new members inreresied in this repertoire and approach, and will appeal to an untapped audience base for perfomiances. We look forward ts> rcviewing the success of ihis upc(Nning season. A bursary, established 2022 to reciprocally benefit siudents in the ar¢a singin8 in a chornl setting and Medici gaining some supw)rtive, ialenied woices and fuiur¢ mernber5. remains in place. We have had our first sing¢r who started in ihe Spring iemi. We hope this continue5 to prove attractive to talentrd singers and encourage membership io share neiws of this with their networks. FINANCIAL REVIEW The Financial Statements show a net decrease in fund5 of £2.825 (2023.. decrease of £4.120) in the year after expending £36,944 (2023: £28.740). making totsl funds carried forward of £26,143 (2023- £28,968) Reserve5 poliey The charity has set a reserves policy that provide% financial stsbility and the rneans for the development and itnprovemeni of its principal activities. It requires maintaining free cash balan¢¢s in the general fund amounting io sixty five percent of one y*s nomial expenditure. Surplus fund5 are held on bank deposit. The charity regularly review5 th¢ amount of iesetve5 th are required io ensure that they are adequate io fulfill continuing obligaiions. The charity considers the present lev¢1 of fundin8 and reserves is adequaie support the chariiy's xtivilie5 for the medium terni. and the truslees consider the financial tK)Sition of the charity to be saiisfaciory. Siobhan Graham Chair of the Trusie¢5 Rcgisier¢d Charity Number 1182785
ITr-DICI CHOIR of th¢ Trusts unthitrAI financial stsleNnts 31 Au8USt2024 IYf()ME thD E.XPENDITURE ACCOUNT F'fiR THE TrEAR ENDED JI AUGUST 2024 uthnstcttd Restricttd 2024 Tot81 rund5 2023 TotAI FndS liliber%h 5LibsLripiions Ihin£iltons 11.400 56 2237 13.700 3.956 872 1.414 484 1.400 56 2237 13.700 3.956 872 1.414 484 10.4Y2 250 1.994 10903 Cvnc¢rt tKkci sales Mi)%ic scores l.iinilK>ns lindTs Itit¢rest eamjngs 748 233 i)tal incomc. 34,IlY 34,119 24,620 EXPENSES F.xpi'ndituri' on rxi$img ftyttd$ Il¢lie<lal expenses Wtsrkshvp .xpLinditure khrIble Aftlty"itlr$ 1 1151lLn expensLS ('h4irily donalivns Fiiiiiiions - Chatiiy Cawl conc¢rt Fjiirsary paym¢nls C¥Vi ernnr¥ ithsts ()IhEr 11 J73 799 11 J73 799 10,282 1,323 21.920 21.920 15,343 40 733 872 872 300 817 863 300 817 863 790 229 vial ¥xp¢n$v$ 36,644 31)0 36,944 28,740 el movemeni in funds (2.5251 {3001 12.8251 {4.1201 RF.C(jcILIATI0l OF FUNDS l-olJl t'und5 broughl forward 28264 704 28.968 33.088 25,739 41M 26,143 28968 'I'()I"AL FUNI)S CARRIED FORWARD I<L¥i%tL'rai ChoriEy Numtr 11¥27¥5
NIfr:DICI CHOIR Rwl of th¢ Tru5t¢¢s and financial staiem¢nts 31 August 2024 1.4LAP4CE SHEET T JI AUGUST 2024 Not¢$ Unrtstricted Restrfjr funds 1024 Tot81 fund5 21123 Total funds I'IIRRENT ASSETS l-k.brois'. iinuunis fallingdut wiihin onr year I'IL'paymen15 L'iqli at bank 14 nd in haTrd 872 650 25.015 872 650 26.419 655 404 33591 26537 404 26,94 34246 <-.RF.DITORS .Iinounls tallini du¢ WLthin one year 74)8 798 5278 .' r CURRENT ASSETS 25.739 404 26,143 2¥.9611 E'."r ASSETS 25.739 404 26.143 28,968 I.-IINDS Iliiri51rKted fiinds Ri51riiled t-unds 25.739 404 28264 704 'I'UTAI. FUNDS 26,143 28,968 The notes forn part of these fthancialsiatem¢nts. Ili'&bi*tcrcd Chdrity 11I27¥5
MEDICI CHOIR Rew ofthe Trusices aThJ unaudited fLnancial staicrncnis 11 Augusi 2024 BALANCE SHEET- CONTINUED AT 31 AUGUST 2024 The Lhgriiable itLLurporated i)rganI110n 15 eniiiltd io exenjplion fr()m awjil under SL'ciion 477 of the Companies ALI 2fAKTr lor the Ye ¢nded 11 AEllS[ 2024. The Iru51¢es hav¢ noi rcquired ihv Lhartiable COTnpany t() ()biain an audit of its financial siatemenis for the year endd I l Aususi 2U24 in acLordance wilh .Sc¢iiDn 476 of CompaniLS Aci 2(Mkn. However in aLLorJJn¥e with S¥Llion 145 of the Chan"li¢s Act 2011 Ihe havc Ixen examined by an IndeNIen1 Exarnin¢r wbi)s¢ rewn is on page 15. ThL tyusl¢¢S acknowl8¥ th¢ir responsibililies foT Idl ensuring thai Ihe chari¢dble eornpany keep_¥ accouniing records ihai ct)mply wilh Seciions 786 and 187 the Cornpanies A¢1 2(MK and Ibl prepdring linancial staiernents which giv¢ a truL" and fair viLw nf the slate of affairs of the Lhllritable ¢i)mpany a5 at ihe ei of each fithancial year and nf lis surplus OT deficii lor each fJnanLldl yedr in acLuidanLe with the requireuni% of Seciion5 194 and 195 and whiLh OlrwiSe Lvmply wilh the re4uirrm¥nts ot. Ihe Companies ALL 2(Mh rclating 10 financial staiemenis. so far as applicable 10 Iht charitable company. These fincIal staNnL% have been prcparL.d ID ¥c(ytdttYKY wilh ihe special provisions c)f Part 15 01 the Cornpanies Act 2(Mkn rel18 io small charl1¢ cofflpknnies. The financial sta1¢AlS were appioved by ihe Board of Trusw on 24 Septemr 2024 at were signed on ils behalf by.. Palli Ci)i)k Ta$url,1 and Trustee Regi51ered Chariiy Nun*xY I182711_5
MEDICI CHOIR Rew)rt of the TnaLs and unauditoj financia] siaie(rEnis 31 Augusi 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICILS Accounting convention Th¢ financial staicmcnis havL tLcn prLparcd u[[ th¢ hisiorical cosi convenlivn wilh iiems recogni5cd at cosi or transaciion value unl¢ss otherwise sla1 in the reltvani notL's. The rinancial 51aiLmL'nts havc prep<wj in accord8n¢e with the S(¢[nei of ReL()mm¢nd¢d PraLiicL.' A¢¢ouniing a1 R¥w)lling by Chariiies preparing thtrir dCCI)unis in e0rdance wilh IIK. Finoncial r¥wning Sidnd¢Ltd appliLable in th¢ UK Republic of Ireland IFRS 102) (effLLtive l January 2015)- {Chan"iies SORP- FRS1021 arml th¥ ajariiies ALI 2011. Incoming resources All irKnming rLsourcc5 4we included on th¢ Stat¢meni uf FinanLial A¢iiviii¢s when the charily is Icgally Lntliled to ihe iorne and the anU1 can 411[¢¢d wilh rLa%Dnabl¢' accuiacy. Resources expemled ExpLndiiurL is accounled fur an aLcwals b&sis and has iK*n cla55ifJLd under heading5 that aggrtgJte all cosi t¢l¢ltc¢J io ihL ¢gry. WherL" ¢0Sts Lannvi be direcily attribuled lo paniculat hcddillgs ihey havL be¢D allLd io dLlivili¢5 on a basis Lonsisteni with the use of re5UUtLes. T•xAtion The LhilY is exempi from ¥uwaiion tax on its ¢harithbl¥ aciiviiies. Fund aceounting UnrestricL¢d funds Ldn bL' U5LyI in aLL0rdaL. with ihe ch¢Lrilabl¢ objtLlives ai ihc discretion ol. the tyusiee5. RestriLLed lunds only be lld for particular reslricied purp)SL"s within the obj¢¢ls of ihe Lhatily. R¢strictions ari5L srrtLifwl by the donor or when fuThls are ratsed for pariicular tL51ricied purpi)seb_ FwihL'r explanalion of thE nature atKI purwyse of each fund 15 includLd in th¢ notes i() Ihe fioancial Si3mentS. EXPENDITURE 20 Musi¢al direLI()r & pl151 paymert15 Rel[ V¥nue donaiions RehLarsal refresh15 1S.349 2505 519 7.688 254 IlJ73 10.282 Rc8LS(eTed Chariiy Nunthr 1182785
MEDICI CHOIR R£[ oli1 Tru51xs and unaudited finJn¢iJl siatemeKts -al Augusi 2024 NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 TRUSTEES, REMUNERA TION AND BENEFll5 ThLre wcre n(Tr twstees. remunerJtion or h¢f InefIts for lh¥ yL(Ir Lnded I l Augusi 2024 nor lur I} Ye Lnded I l August 2013. TStets. Expenses ThL'fL werc no tnLSte¢*' exn5¢S paid foi thc yLar LndLd 1 l Augusi 2024 Dor for the yedr ended 3 l August 2023 DEBTORS AND PREPAYMENTS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2021 Debior5- Functions- RSM iharity ciTrncLn Prepaytnen15- dcposii church hire 872 650 655 1522 655 CREDITORS: AMOUNIS FALLING DUE WITHIN ONE YEAR 2024 Music scurL5 5ummtt concen costs Ind¢ndei Examiner'5 fee MD atMI piarhi51 lee5 440 882 5.278 MOVEMENT IN FUNDS A¢ I Sept 2023 Net veDnI in funds At 31 August 2024 Unrestricted funds General lund 2S.264 (2J25) 25.739 Restricted 71M TOTAL FUNDS 28.968 (2.825) 26.143 KL¥i%t¢rcd (Thariiy Nurnr I IR27115
MEDICI CHOIR Re]xJrt of TruswY5 3nd tsnaudiied finarKial statemenis 31 Au8usI 2024 NOTES TO THE FINANCIAL STATEMEKfs- CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 MOVEMENT IN FUNDS ICONTINUF.D} Net movemenLs in fund5, inclwjed in t1 aknvc folliiws= Restsurces Movement in funds General fund 76.644 12,525 Re5tsicted fuDds TOTAL FUNDS 34,119 (4825) TRUSTEES AND OTHER RELA TED PARTIFS No payrncnts werL made 10 trnSlCes Dr dny r$orL5 ¢onn¢Cd with during this linancial ye. No matcrial Irans10 i(K plxc tween ihe organiuion and a tyusie¢ or any person conn¢ctcd with thL'm. RISK A&SMENT SL'L Report of the Truse5 RESERVFS POLICY Stye RcporL Ot. Ihe T&[ee5 io. PUBLIC BENEFIT The Chariiy acknowlL¥d¥e5 ils rcquirenK'ni io demonslral¢ clearly that il must have chariiahl¥ purposes or 'aiuL¥ ilvdi are for thL public kn¢fil. Dytails ol- how the charily hab hl¢Ved this arn Provided in ihL Rew)rt of ihe Trustee5. tyusiees confirrn thai ihey have paid duc regard io the Chthiy Commission guidance on public benefii before dld1t)g whal activities the chari(y should unden4kL. RCgisl(x[ Chiiy Numkr 11827l5 10
MEDICI CHOIR Report of the Trusie£s and unaudited financial 5talemenis 31 August 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES CLIENT'S CERTIFICATE I certify that ro the besi of my knowledge and belief the accountlllg re¢ords produced iogether with the explanations given to Michael Smith & Co are a true and corrttt record of the above IsInesS for the year ended 3 IY August 2024. and I confitm that they have my approval. Patti Cook Tr¢asur¢r and Trustee ACCOUNTANTS REPORT From ihe infomiarion and explanations received from the otTieers of The Medici Choir we have prepared. withoui audiL the aEx)¥e accwnts. Michael Smith & Co 90a Walm Lane London NW2 4QY Date.. 2rl 71*)Lf +alCHAEL SMrrH & C 90A WALM LANE LONDON NW2 4QY . 84516870 Regiaered Chariiy Number I IK2785