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2023-12-31-accounts

Trustees’ Annual Report for the period

From 01/01/2023 Period start date To 31/12/2023 Period end date

Charity name: London Contemporary Music Festival

Charity registration number: 1193409

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 The objects of this CIO are to promote,
improve, develop, sustain and advance
education by encouraging the arts, for the
public benefit, with particular but not
exclusive regard to new music, opera,
dance, film, literature and the visual arts,
both in the United Kingdom and abroad,
through, but not limited to, the presentation
of live events of the highest artistic merit.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 The main activities of this CIO are the
provision and promotion of an annual
festival of contemporary music.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 The trustees have referred to the guidance
of the Charity Commission on the subject
of public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment

Contribution made by Para 1.38 volunteers Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 Following our 15 December 2022 board
meeting, the London Contemporary Music
Festival decided to become a biennial in
order to be able to invest more time in
curating the programme, find more money
and be more ambitious, all of which would
help us achieve our core charitable aims.
We decided to present a main festival
every other year, with the potential for
smaller, one-off portrait events in the
alternate year. This meant 2023 was a year
in which no festival was held, but in which
many plans for the 2024 events – which
were going to be the festival’s 10th
anniversary year – were discussed.
At our board meeting of 19 December we
decided to present a main festival in the
final quarter of 2024 and a smaller summer
2024 festival/residency to celebrate the
opening of a new venue, the Hotel du
Couvent, that one of our trustees was
setting up in Nice.
The big question about the main London
festival was where it would take place.
Many venues had hiked up their fees. We
started conversations with several new
venues. We also embarked on shaping a
programme for our 10th anniversary, and
embarked on discussions with several of
our regular funders and tried to establish
ties with new potential funders.
Our major decision in 2023 was to do a
small festival in Nice. The benefits of this
event to our charitable aims were
substantial, promoting high quality British
music to new parts of the world. It was also
perfect as a place for our artists to
experiment and to develop ideas that would
be presented in full back at our main
festival later in 2024. All this in order to
promote and advance the education of the
public in music and art of the highest
quality.

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41
Investment performance
against objectives		 Para 1.41
Other

Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 The financial results for the year are set out
in the attached accounts. They show a
deficit of £134 for the year. The charity had
reserves of £4,288 at 31st December 2023.
Total expenditure during the year was
£2,135.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 The Board undertakes to maintain
restricted reserves to cover any
outstanding work on restricted projects,
where appropriate.
The Board aims to establish free reserves
(unrestricted reserves minus the value of
fixed assets) equating to 25% of the
organisation's annual running costs within
three years.
Free reserves currently represent 200% of
annual running costs, due to the relative
inactivity of the Charity during the period.
Amount of reserves held Para 1.22 At 31st December 2023 the charity held
unrestricted reserves of £4,288. There
were no restricted reserves.
Reasons for holding zero
reserves		 Para 1.22
Details of fund materially in
deficit		 Para 1.24
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 The Festival fulfilled all of its financial
obligations during the year, and there are
no legal or other issues outstanding.
We believe there is no reason to assume
the organisation is not a going concern.

Additional information (optional) You may choose to include further statements where relevant about: The charity’s principal Para 1.47 sources of funds (including any fundraising) Investment policy and Para 1.46 objectives including any social investment policy adopted A description of the principal Para 1.46 risks facing the charity Other

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed, royal charter)		 Para 1.25 Constitution
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 CIO
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 Eligibility for trusteeship
(a) Every charity trustee must be a natural
person.
(b) No individual may be appointed as a
charity trustee of the CIO:
●
if he or she is under the age of 16
years; or
●
if he or she would automatically
cease to hold office under the
provisions of clause 12(1)(e).
(c) No one is entitled to act as a
charity trustee whether on
appointment or on any re-
appointment until he or she has
expressly acknowledged, in
whatever way the charity trustees
decide, his or her acceptance of the
office of charity trustee.
(d) At least one of the trustees of
the CIO must be 18 years of age or
over. If there is no trustee aged at
least 18 years, the remaining
trustees may only act to call a
meeting of the charity trustees, or
appoint a new charity trustee.
Appointment of charity trustees
(1) Apart from the first charity trustees,
every trustee must be appointed by a
resolution passed at a properly convened
meeting of the charity trustees.
(2) In selecting individuals for appointment
as charity trustees, the charity trustees
must have regard to the skills, knowledge
and experience needed for the effective
administration of the CIO.

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures
adopted for the induction
and training of trustees		 Para 1.51
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51
Relationship with any related
parties		 Para 1.51
Other

Reference and Administrative details

Charity name London Contemporary Music Festival
Other name the charity uses LCMF
Registered charity number 1193409
Charity’s principal address Flat B, 10 Inglebert Street,
London
EC1R 1XR

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7		 Trustee name Office (if any) Dates acted if not for
whole year		 Name of person
(or body) entitled
to appoint trustee
(if any)
Richard Edward John
Wyatt		 Chair LCMF
Selvi MayAkyildiz LCMF
ValeryGrego LCMF
Elaine Samantha
Mitchener		 LCMF
Igor Nicholas Istvan
Toronyi-Lalic		 Treasurer and
Secretary		 LCMF

– Corporate trustees names of the directors at the date the report was approved Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity n/a
Name and objects of the charity on whose behalf the assets
are held and how this falls within the custodian charity’s
objects		 n/a
Details of arrangements for safe custody and segregation of
such assets from the charity’s own assets		 n/a

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Igor Nicholas Istvan Toronyi-Lalic

Position (eg Secretary, Treasurer and Secretary Chair, etc) Date 25 October 2024

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF LONDON CONTEMPORARY MUSIC FESTIVAL

I report on the accounts of the London Contemporary Music Festival for the year ended 31[st] December 2023.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of examiner’s statement

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view, and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the 2011 Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

  4. have not been met; or

  5. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Christopher J Wright, Independent Examiner

80 Sylvan Road, Crystal Palace, London SE19 2RZ

28[th] October 2024

London Contemporary Music Festival

Balance Sheet 31st December 2023

Current Assets
Debtors, prepayments & accrued income
Metro Bank
Current Liabilities
Trade creditors
Accruals & deferred income
Net Current Assets / (Liabilities)
Net Assets / (Liabilities)
Representing
Unrestricted reserve brought forward
Surplus (deficit) for the period
Unrestricted reserve carried forward
Total reserves carried forward		 204
4,084
4,288
-
-
-
4,288
4,288
4,422
(134)
4,288
4,288
2023		 2022
204
4,084		 6,693
60
4,288 6,753
-
-		 349
1,982
- 2,331
4,422
4,422
-
4,422
4,422
4,422
London Contemporary London Contemporary
Music Festival
Income & Expenditure
31st December 2023
2023 2022
Income:
Ticket sales - 23,912
Grants received 2,000 101,811
Donations - 22,485
Bank interest 1 -
Total Income **2,001 ** **148,208 **
Expenditure:
Artist Fees - 96,919
Hire of venues - 14,000
Production / technical costs - 13,995
Travel & subsistence - 9,483
Accountancy 2,135
Equipment hire - 6,198
Marketing - 1,891
Administration costs - 1,300
Total Expenditure **2,135 ** **143,786 **
Surplus (deficit) for the period (134) **4,422 **