Charity number: 1192356
INTERNATIONAL CENTRE FOR CONTEMPORARY MUSIC REPORT AND ACCOUNTS FOR THE PERIOD ENDED 30 JUNE 2021
INTERNATIONAL CENTRE FOR CONTEMPORARY MUSIC
Trustees ’ report for the period ended 30 June 2021
The trustees present their statutory report and accounts of the International Centre for Contemporary Music for the period ended 30 June 2021.
Objectives and Activities of the Trust
The objects of the CIO are to advance public education in and appreciation of contemporary classical music and to encourage the art of music in particular but without limitation by promoting, commissioning, performing, producing, disseminating and presenting works of contemporary classical music and by encouraging the understanding and development of contemporary classical music.
ICCM is an international centre for performance, production, and promotion of contemporary music. The centre is performance-oriented; its ensembles, programs, and services are intended to provide a platform for the creation and performance of new works as well as to give new exposure to the significant ones from the recent past.
Structure, Governance and Management
The following trustees have held office since 16 November 2020.
Trustees
Stephen Mark Long Dr Zvonimir Mihajla Hacko Dr Paolo Petrocelli Erika Sanchez Susanna Stefani
Where there is a requirement for new trustees, these would be identified and appointed by the remaining trustees. The chair of trustees is responsible for the induction of any new trustee which involves awareness of a trustee’s responsibilities, the history and the administrative procedures of the charity.
The trustees annually review the risks that the charity faces. The best ways to mitigate these risks are then put into place.
Reserves Policy
Except for such funds as the trustees consider prudent to maintain for the purposes of management and administration of the charity for the foreseeable future, all unrestricted funds are used for the purpose of general charitable objects of the charity.
The adequacy of the reserves is reviewed annually.
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INTERNATIONAL CENTRE FOR CONTEMPORARY MUSIC
Trustees ’ report for the period ended 30 June 2021
Trustees’ Responsibilities Statement
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial period in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including theincome and expenditure, of the charity for that period.
In preparing these financial statements, the trustees are required to:
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a) select suitable accounting policies and apply them consistently;
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b) observe the methods and principles in the Charities SORP;
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c) make judgments and accounting estimates that are reasonable and prudent;
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d) state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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e) prepare the financial statements on the going concern basis unless it is inappropriate to presume thatthe charity will continue to operate.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed on their behalf by:
Dr Zvonimir Mihajla Hacko Trustee 23 February 2022
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INTERNATIONAL CENTRE FOR CONTEMPORARY MUSIC
Statement of Financial Activities for the period ended 30 June 2021
Unrestricted Funds Period from 16 November 2020 to
30 June 2021 £ Income from donations - _ Total income - _ Expenditure on: Charitable activities - _ - Total expenditure ====== Net Movement in Funds - Balance brought forward At 16 November 2020 - _ Balance carried forward - 30 June 2021 ======
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INTERNATIONAL CENTRE FOR CONTEMPORARY MUSIC
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BALANCE SHEET AS AT 30 June 2021
2021
£
Current Assets
Cash at bank -
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Net Assets -
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Unrestricted General Funds
Unrestricted funds -
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The financial statements were approved by the Trustees on 23 February 2022 and
signed on their behalf by:
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Dr Zvonimir Mihajla Hacko Trustee
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INTERNATIONAL CENTRE FOR CONTEMPORARY MUSIC
Notes Forming part of the Financial Statements for the Period Ended 30 June 2021
1. Accounting Policies
- (a) The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accountsin accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The financial statements have been prepared to give a ‘true and fair’ view and 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 Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
The charity meets the definition of a public benefit entity under FRS102.
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(b) Income from donations is included in income.
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(c) Interest receivable is included when receivable by the charity.
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(d) Expenditure is included in the Statement of Financial Activities on an accruals basis,inclusive of any VAT which cannot be recovered.
2. Other costs
No trustee received any remuneration or any other benefit from the charity during the period.No trustee received any expenses from the charity during the period.
3. Related Party Transactions
There were no related party transactions.
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