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2025-08-31-accounts

Charity registration number 1188269 (England and Wales)

THE MARIAN CONSORT

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

THE MARIAN CONSORT

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Guy Farmer
Harry Hickmore
Edward Hossack
Zoe Lai
Morgan Simes (resigned 4 February 2025)
Eleanor Ward (resigned 16 March 2026)
Charity registration England and Wales 1188269
Principal address 25 Sherrards Way
Barnet
London
EN5 2BW
Independent examiner Tom Wilcox
Counterculture Partnership LLP
23 St Leonards Road
Bexhill-on-Sea
East Sussex
TN40 1HH

THE MARIAN CONSORT

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Statement of financial position 6
Notes to the financial statements 7 - 16

THE MARIAN CONSORT

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The trustees present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Objectives and activities

The objectives of The Marian Consort (TMC) are the advancement of the arts and culture, and the education of the public in the art of music in particular but not limited to choral singing for the public benefit by: a) the presentation of concerts and other musical activities (including recordings) and by commissioning new works; and b) training and coaching for those from all demographics and age groups (particularly but not exclusively for young people).

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance on public benefit and fee charging. The Marian Consort relies on a combination of statutory grant income, earned income, and fundraised income to cover its costs.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives Performance Activities

The year ending 31 August 2025 was a busy period for The Marian Consort (TMC), with sustained strong levels of activity across the UK and internationally.

We continued our relationship with the Music@Malling Festival, performing works by Deborah Pritchard and John Woolrich alongside music by Henry Purcell and John Blow and working with local singers for a side-by-side performance, and renewed our partnership with the Royal Conservatoire of Scotland in Glasgow with a January residency which included workshops with student composers and singers and a concert performance of Scottish Renaissance and contemporary repertoire. We appeared at London’s King’s Place, giving a major platform to two TMC-commissioned works by Phillip Cooke and Electra Perivolaris. We returned to our artistic home at Dunster Festival, leading schools workshops and giving two concert performances, the second in collaboration with baroque orchestra Spiritato.

International engagements included two major US tours, with concerts in Cleveland, Columbus, Seattle and Portland and for the Miller Theatre Early Music Series in New York; residencies involving performances, masterclasses and lectures at the University of Dayton and Haverford College; and workshops with high school, university, adult and young professional vocal ensembles on both East and West Coasts. TMC were also artists in residence for the Zenobia Musica Summer School in Avila in July 2025, working with participants across the week and giving a concert in the Festival Internacional de Música "Las Navas del Marqués", and 2025 also saw our Portuguese and Netherlands debuts and an appearance in Germany at the SWR Schwetzinger Festspiele broadcast on national radio.

TMC continues to commission widely and champion new music. We presented ‘Madrigals for Plants’ by Amy Bryce and ‘Flower Dictionary’ by Leo Chadburn at the SWR Schwetzinger Festspiele (also broadcast on German national radio); new works by Hugo Bell and Nneka Cummins at Harrogate International Festival; a new commission from Joy Nkoyo in Avila; and we ran the first year of our Emerging Voices talent development scheme for composers, working with Christian Drew, Rosemary Shapes Tickle and James Weatherley-Buss. We gave them workshop time with the ensemble, mentorship and guidance from composer Laurence Osborn and Rory McCleery, and tailored professional development opportunities and advice, as well as a professional video recording of their three completed works written across the six months of the scheme.

THE MARIAN CONSORT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

We released our new album ‘Una poesia muta: Art in early Cinquecento Venice’, made in partnership with SWR Kultur and Staatsgalerie Stuttgart. It was selected as BBC Radio 3’s Record of the Week, and received excellent reviews from UK and international press, with Scherzo (Spain) saying: “I would like to add my voice to the already lengthy list of positive reviews that The Marian Consort has received. The album is a gem, from its conception— the close relationship between painting and music in such a precise spatial, temporal and cultural context is fascinating—right through to its performance. The voices sound rich yet delicate, precise in tone and pitch, and beautifully blended.”

We gave further performances of our multimedia project Seeing through Sound, exploring connections between Renaissance visual arts and music. Developed with Professor Tim Shephard (University of Sheffield) and featuring a commission from Barbara Monk Feldman inspired by a work by Fra Angelico, this programme continues to elicit excellent audience feedback and allowed us to renew our relationships with Wiltshire Music Centre and the Gulbenkian Arts Centre in Canterbury, as well as being the final performance of our two-year residency with Music at Oxford.

Alongside the highlights above, TMC also performed at the Bath and Harrogate Music Festivals, Hexham Abbey Music Festival, and in Norwich, Silverdale and elsewhere.

Fundraising Activities

TMC continued our multi-year relationships with the John Ellerman Foundation and PRS Foundation’s Talent Development Network, supporting staff costs and commissioning, and applied successfully for funding which will be shown in the 2025/26 annual accounts.

Management

TMC conducts its business with staff working remotely from home.

Development of the CIO

Next steps for TMC include the following:

Financial review

The charity achieved pleasing financial results during the period of this report, resulting in a surplus of £12,421. There continues to be growing demand for the work of TMC and the trustees are confident in the development of the charity. The basis for review is also reflected in the independent examiner’s report.

While income from grants and donations appears lower than in the previous financial year, this primarily reflects the timing of grant payments and recognition. A number of significant grants awarded in support of the charity’s ongoing programme were either received outside the reporting period, or are payable in instalments extending into subsequent financial years.

On 31 August 2025, the balance of our unrestricted Funds was £61,545 (2024: £19,781), and the balance of our restricted Funds was £1,657 (2024: £31,000).

THE MARIAN CONSORT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Reserves policy

Reserves are needed to bridge the gap between spending on projects and recordings and receiving resources through concert fees and grants that provide funding. The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. The current level determined (devised to cover the CIO’s liabilities for a period of three months) is £12,000.

TMC aims to make a small surplus through its engagements. It is intended that any such surplus will be used to ensure that the reserves policy is maintained. Additionally, it is intended that any such surplus will be used as a contingency fund in order to effectively manage any deviations in budget expectations, including bad debts, or to assist in maintaining a positive cash flow balance if required. Following this, the trustees have a policy of retaining no further reserves than are necessary to meet estimated future commitments of the charity.

The actual reserves at 31 August 2025 were £63,202 (2024: £50,781).

Structure, governance and management

The charity is controlled by its governing document, a deed of trust. The Marian Consort is a Charitable Incorporated Organisation, and is governed by its Constitution, dated 2 March 2020 and amended on 2 December 2024. It is registered as a charity with the Charity Commission. Applications for membership must be approved by the trustees. At the time of 31 August 2025, there were five trustees, none of whom have any financial liability in the event of the charity winding up.

The trustees who served during the year and up to the date of signature of the financial statements were: Guy Farmer Harry Hickmore Edward Hossack Zoe Lai Morgan Simes (Resigned 4 February 2025) Eleanor Ward (Resigned 16 March 2026)

Recruitment and appointment of trustees

As is set out in the Constitution, there must be at least three charity trustees, and no more than twelve. New trustees can be recruited at any time. Apart from the first charity trustees, every trustee must be appointed for an initial term of up to three years by a resolution passed at a properly convened meeting of the charity trustees. Retiring trustees are eligible for reappointment for a term of up to three years by a resolution passed at a properly convened meeting of the charity trustees. The trustees note the guidance of the Charity Governance Code 2025 that where a trustee has served for more than nine years, their reappointment is subject to a rigorous review, and explained in the trustees’ annual report.

Induction and training of trustees

The charity trustees will make available to each new charity trustee, on or before his or her first appointment, a copy of the constitution and any amendments made to it and a copy of the CIO's latest Trustees' Annual Report and Statement of Accounts.

The trustees' report was approved by the Board of Trustees.

.............................. Edward Hossack Trustee

19/06/2026 Date: .............................................

THE MARIAN CONSORT

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MARIAN CONSORT

I report to the trustees on my examination of the financial statements of The Marian Consort (the charity) for the year ended 31 August 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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

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 financial statements to be reached.

Tom Wilcox

Counterculture Partnership LLP 23 St Leonards Road Bexhill-on-Sea East Sussex TN40 1HH Date: ............................

THE MARIAN CONSORT

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted Unrestricted Restricted Restricted Total Unrestricted Unrestricted Restricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Notes £ £ £ £ £ £
Income from:
Donations and legacies 4 8,235 5,000 13,235 20,810 64,750 85,560
Charitable activities 5 195,609 - 195,609 200,904 1,900 202,804
Investments 6 533 - 533 280 - 280
Total income 204,377 5,000 209,377 221,994 66,650 288,644
Expenditure on:
Charitable activities 7 162,613 34,343 196,956 247,077 61,150 308,227
Total expenditure 162,613 34,343 196,956 247,077 61,150 308,227
Net income/(expenditure) and
movement in funds 41,764 (29,343) 12,421 (25,083) 5,500 (19,583)
Reconciliation of funds:
Fund balances at 1 September
2024 19,781 31,000 50,781 44,864 25,500 70,364
Fund balances at 31 August
2025 61,545 1,657 63,202 19,781 31,000 50,781

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE MARIAN CONSORT

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2025

2025 2024
Notes £ £ £ £
Current assets
Stocks 13 1,288 587
Debtors 14 2,182 -
Cash at bank and in hand 69,210 56,908
72,680 57,495
Creditors: amounts falling due within 15
one year (9,478) (6,714)
Net current assets 63,202 50,781
The funds of the charity
Restricted income funds 16 1,657 31,000
Unrestricted funds 17 61,545 19,781
63,202 50,781
19/06/2026
The financial statements were approved by the trustees on .........................

.............................. Edward Hossack Trustee

THE MARIAN CONSORT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

The Marian Consort is a registered charity. The registered office is 25 Sherrards Way, London, EN5 2BW.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's Memorandum of Association, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE MARIAN CONSORT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE MARIAN CONSORT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Change in accounting policy

This year, the charity has changed its accounting policy from receipts and payments to accruals basis because it provides reliable and more relevant information. Therefore, the corresponding amounts for the previous financial year in the financial statements (including the related notes) are not comparable.

3 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4 Income from donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Donations and gifts 8,235 - 8,235 10,810 - 10,810
Grants - 5,000 5,000 10,000 64,750 74,750
8,235 5,000 13,235 20,810 64,750 85,560

THE MARIAN CONSORT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

4 Income from donations and legacies Income from donations and legacies (Continued) (Continued)
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Grants
PRS Foundation - 5,000 5,000 - 6,000 6,000
John Ellerman
Foundation - - - - 25,000 25,000
Marchus Trust - - - - 5,000 5,000
Angel Early Music - - - - 5,000 5,000
The Hinrichsen
Foundation - - - - 1,500 1,500
Vaughan Williams
Foundation - - - - 2,000 2,000
The Foyle Foundation - - - 10,000 - 10,000
The University of
Sheffield - - - - 17,750 17,750
Maria Bjornson Memorial
Fund' - - - - 2,500 2,500
- 5,000 5,000 10,000 64,750 74,750
5 Income from charitable activities
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Voluntary Income
Engagements 182,419 - 182,419 176,427 1,900 178,327
CD/Ticket sales 7,626 - 7,626 9,579 - 9,579
Royalties & Commissions
Received 242 - 242 196 - 196
Travel and subsistence
reimbursement 5,322 - 5,322 14,702 - 14,702
195,609 - 195,609 200,904 1,900 202,804

THE MARIAN CONSORT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

6 Income from investments

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 533 280
Expenditure on charitable activities
Total Total
2025 2024
£ £
Direct costs
Staff costs 13,532 20,223
Artistic Expenditure 134,216 184,335
Venue Hire 5,802 7,668
Marketing & Communications 1,156 1,222
Production 5,379 30,103
Insurance 791 650
Postage 1,638 960
Sundry 1,270 442
Consultancy & professional fees 5,937 731
Travel and subsistence 24,986 61,146
Computer and software 293 -
Packaging materials 9 -
Imputy duty 3 -
Bank charges & interest charges 264 -
195,276 307,480
Share of support and governance costs (see note 8)
Governance 1,680 747
196,956 308,227
Analysis by fund
Unrestricted funds 162,613 247,077
Restricted funds 34,343 61,150
196,956 308,227

7 Expenditure on charitable activities

THE MARIAN CONSORT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

8 Support costs allocated to activities

8 Support costs allocated to activities
2025 2024
£ £
Governance costs 1,680 747
Analysed between:
Total 1,680 747
9 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 1,680 560

10 Trustees

During the reporting period, Eleanor Ward a trustee of the charity, provided services in the role of Interim Executive Director on a temporary basis from 1 March 2025 to 14 May 2025 to ensure operational continuity during a recruitment transition period.

Gross remuneration of £3,500 (2025: £Nil) was paid to Eleanor Ward for providing services to undertake these staff operational duties. No pension contributions were made, and no other benefits were received.

The trustees were satisfied that it would be in the best interests of the charity for these services to be provided by Eleanor Ward who had abstained from all trustee discussions and decisions regarding their provision of services.

No other trustees received any remuneration or employment benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
1 1
Employment costs 2025 2024
£ £
Wages and salaries 13,532 20,223

There were no employees whose annual remuneration was more than £60,000.

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE MARIAN CONSORT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

13 Stocks
2025 2024
£ £
Finished goods and goods for resale 1,288 587
14 Debtors
2025 2024
Amounts falling due within one year: £ £
Trade debtors 2,182 -
15 Creditors: amounts falling due within one year
2025 2024
£ £
Other taxation and social security 1,679 6,507
Trade creditors 5,726 -
Other creditors 393 207
Accruals and deferred income 1,680 -
9,478 6,714

THE MARIAN CONSORT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1
Incoming
Resources		 At 31
September
resources		 expended
August		 2025
2024
£ £ £ £
PRS Foundation 5,000 5,000 (8,343) 1,657
PRS Foundation 1,000 - (1,000) -
John Ellerman Foundation 25,000 - (25,000) -
31,000 5,000 (34,343) 1,657

£5,000 was received from the PRS Foundation Talent Development Network scheme (Year 1) during the 2023/24 financial year in support of our New Music Programme, which took place between September 2024 and July 2025. This represented the first instalment of a total Year 1 grant of £10,000.

A further £5,000 was received from the PRS Foundation Talent Development Network scheme (Year 2) during the 2024/25 financial year. This represented the first instalment of a total Year 2 grant of £10,000. The outstanding balance of the Year 1 grant is expected to be received in the financial year ending 31 August 2026, while the remaining balance of the Year 2 grant is expected to be received during the 2025/26 financial year.

Previous year: At 1
Incoming
Resources		 At 31
September
resources		 expended
August 2024
2023
£ £ £ £
Donation 25,500 - (25,500) -
PRS Foundation - 6,000 - 6,000
John Ellerman Foundation - 25,000 - 25,000
Marchus Trust - 5,000 (5,000) -
Angel Early Music - 5,000 (5,000) -
The Hinrichsen Foundation - 1,500 (1,500) -
The University of Sheffield - 17,750 (17,750) -
Vaughan Williams Foundation - 2,000 (2,000) -
Norfolk County Council - 400 (400) -
Britten Pears Arts - 1,500 (1,500) -
Maria Bjornson Memorial Fund - 2,500 (2,500) -
25,500 66,650 (61,150) 31,000

THE MARIAN CONSORT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

16 Restricted funds

(Continued)

Notes to the restricted funds

The University of Sheffield - Filming costs, including performers' fees, venue hire and film crew related to Seeing Through Sound collaborative project

Vaughan Williams Foundation - Support for Laurence Osborn commission

Norfolk County Council (Norfolk CC) - Funds received from concert in Norfolk

Britten Pears Arts - Funding received through a collaborative project with Britten Pears Arts to support Face to Face , including residency and artist support costs

PRS Foundation – Support for New Music Programme, including the first £5,000 instalment of a £10,000 grant. A further £1,000 was received as the final payment for the A Winged Woman recording project

The Hinrichsen Foundation - Support for commissioning costs

The John Ellerman - Support for New Music Programme and core costs

The Maria Bjornson Memorial Fund - Support of Face to Face

Angel Early Music – Support of recording costs

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
Incoming
Incoming
Resources
Resources
At 31 August
At 31 August
September
resources		 expended 2025
2024
£ £ £ £
General funds 19,781 204,377 (162,613) 61,545
Previous year: At 1
Incoming
Resources
At 31 August
September
resources		 expended 2024
2023
£ £ £ £
General funds 44,864 221,994 (247,077) 19,781

THE MARIAN CONSORT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

18 Analysis of net assets between funds

Unrestricted Unrestricted Restricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 August 2025:
Current assets/(liabilities) 61,545 1,657 63,202
61,545 1,657 63,202
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 August 2024:
Current assets/(liabilities) 19,781 31,000 50,781
19,781 31,000 50,781

19 Related party transactions

During the reporting period, the charity entered into a transaction with a related party, Eleanor Ward, who was a member of the Board of Trustees. Eleanor Ward was retained on a short-term, temporary basis to provide services as the Interim Executive Director to manage the charity's daily operations.

The total financial value of this transaction was £3,500 (2024: £Nil), representing professional fees. The balance outstanding and owing for accrued payments or expenses was £Nil (2024: £Nil)

To manage the conflict of interest, this arrangement was executed via a formal, written agreement approved by the unconflicted trustees. Eleanor Ward withdrew from all board discussions, was not counted toward the meeting quorum, and completely abstained from voting on the appointment, rate setting or contract terms for services provided.