Registered number CE025973 Continuo Foundation Report and Unaudited Accounts 31 December 2023
Continuo Foundation Report and accounts Contents Page Charity information Trustees. report Independent 8)taMine, report Statsrnent of financial actNities Balance sheet 10 Note8 to the coUnts 11
Continuo Foundation Charity Infomiation Trustees Robert Francis Binyon stephen John Uhlig- (Treasurer) Pelawa Tina Vadaneaux (Chairl Benedict Patnck Vanderspar Tom W8isselberg Ritta Liisa Hirvonen Vincenzo Tuozzo- apPted on 91h O¢lober 2023 Indepèndent examlner Catherine A Williarns Ltd The Old Bank Beaufort Street Crickhowell Powys NP8 1AD Bankers C.Hoare & Co 37 Fleet Street London EC4P 4DQ CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West M8Ying Kent ME194JQ Charlty's prlnclpal address 64 Barkston Gardens London SVV5 OEL Reglstèred company number CE025973 Ro015tered ¢harlty number 1194382
Continuo Foundation Registered company number: Reglstered charlty number.. Trustees. Report CE025973 1194382 The Iruslees present Ihpir report togethw with the ektsrrolly enminod financial statements for the year ended 31 December 23. The fin4ncial Statements comply with Gurrert statLtcry requirements aNJ wlh the requiremen15 of the charity's governing document. The reference and administratK>n d81ai18 Sn on the precediw page form part of this reFQrt. Structurei govemance and manag•m¢nt Cortinuo Foundation lllhe Foundatnn) is a charitable Iorrated organisation ICIOI. The Foundalion was iegistèred wth the UK Charrty CommBGion tsn 7 May 20211. 11943tr2). tt is goverrd by it8 Constitution. The Trustees who served the charity during Ite year wert as folbw8'. Robert Fréncis Binyon stephen John Uhlig- ITrèa8uierl Pelayia Tina Vadaneaux (Chairl nedicl Patrick Vanderspar Tom Weisselberg Ritta Liisa Hirvonen ncenzo Tuozzo- 8ppointed on 91h Odober 2023 The Tru8teès meet regularly, at atst 6 tirnes per year. Matters di5cus*d arKI Mewed by the Trustees irclude consideration of grantakIng activitie5 (past. present futurel, the Continuo Connect digital inilialive, the current slate of the FOUallon,$ o5h and reseNes pcsith?n and The Tru81ee$ are commrtted to pnnciple8 of the charity G0vemare C(xl¢. ObJeet$ and actlvltles forthe publlc benefft Objects of the FouNJation are.. To advènGe edwation In the art and 8cler of mu&c. in particular but not exclu&vely to promote, èvelop and maintain education In the appreciation and knowledge of cfas8ic81 music heritage and hislorically-lnfarmed performanGe praclice for Ihe public benefrt by providiry grants lo UK based period ensembles 8pe¢ielising in repertore trom the medieval, renaissance, barwue, dassieal aTh early romantic penods. The aim is lo out these objectives by all such lawful means as the Trustees think frt. The Trustees confirm that they have refèrred to the guidance contained in Charity Commis510n' general gLudance on a public benefrt when reviewng Foundation's airns and obJgciEve8 and In setting the gr8N making policy for year and the future. Foundation carnie5 Out Ihese objectives Ihrowh strands of activity. 111 providing gran18 to period instrument ensembles re&dent in the UK for artistic project5, many of which would rKt olherwi$e go ahead. and 121 the Continuo Connect digital inrtialive. These Iwc strands of activity provide inveslmenl and visibility, both of which are fundarDental to the giowlh atvj flourishing of the UK early music Sector. Throwh ils grant makiry. the FoUnda1n 8180 contributes to the professional developrnenl of early mLL5iC artist5. partirxjlarfy emrgino artists, and helps Ihem to improve their lory-term firEncial sust4inabilrfy. Through Continuo Connect. it provides professional platform for artists lo share their work and lo connect wrth wider audiences The FouTKlation al80 plays 8n Important role In championing early music in the UK h8lpn9 MUClan5 t¢ briry live muw¢ to larger. mowe diverse audie[$ in more pll2ce$ acr066 UK.
Continuo Foundation Registe company number.. Registered charity numb8r: Trustees, Report CE025973 1194382 Achlevements and r10MnCe lal Grant4naklng polley and pra¢tlc• TfÈ Foundation carried out Iwo round5 of project grants in 2023 and receiverj applications from 84 different UK period-in5trurr&nl ensembles. The rounds were a5 follows.. RouTrJ S" opened for appIltiOnS on 10th January and anmunced awards to 27 r)d-InStrurnenI ensembles on 21st Mar¢h 2023, SUPkKrting proj&ts s¢duled to take pLqce beeen ri1 aTrJ September 2023. Round 6.. Opened Yor applic8lions on 111h July and annouwed awards to 25 perd-inStrutnent eeMbleS on 215t September, supporbng projects stUled to tske place Wween October 20r3 arKI March 2024. I grant application5 received were assessed in a 0-tage procts5. First, all were evaluated by Foundations e)rpert Advi)ry Panel, whose members indude.. Davi# Hill MBE Dr Berta JO5 Lindsay Kemp Catherine M8ckNtc6h Joseph McHardy AdvirY Panel ranked each prc48Ct based on 11$ artKstic ex¢dknce, imagirAlwe prograrnming and creation of rk for freelance musicians. These connsus r8nkiThJs were presented to the TTu5tees. Eaoh Trusteg evaluated and r8ted the recommended projects. Final award dectsio ere basÈd on the rHtirvJs and discussion arnory the Trustees. AJI applicants were informed of the out¢¢me before the award$ were publicly announcèj. Ibl Analy515 ol Giants Awarde(I 2023: Total Amount Awarded. Avèrage Grant Amount". Nurnber of Project Grarrts Awarded.. Number of Ensemble bericIae$'. of which eryTergiro groups.. £204.40) £4,C 52 15 Following on from the review of 112 pr¢4eGI grant applicions re1ve, awards were made to the ensernbles below. Those with. are recently forwed ensefflbles. a new category introdL¢ed in 2022 for groups In exislerKe for less than three years at thme of applwtion. 1. Arculo Consort ofVioL8" 2 Apollo s Cabinet 3 Baroque in th& North 4. Brook Slreet Band 5. Cambridge HaTrJel Opera with AAM 8. Chelys Consort ol Viol$ 7. Consone Quartet 8. Divertissements Chimrd. 9 Dunedin Consort 10. Early Opera Company 11. Endelienta Baroque. 12. En8embie Augelletb
Ctsntiftuo Foundation Register1 company numr.. Reglsterwl eharity number- Trustee5' Report CE025973 1194382 13. En$eMe Hesperi 14. Ensemble Moliere 15. Figure. 16. Fiori Music816 17. Flaugissimo 18. Florilegium 19. Hex. 20. HGOAnliqua Orcheslra 21. His Majestys Sagbutts & Cornetts wrth Fretwork Y2 Illyria Consort 23 Irlandiani Players. 24. La Serenissima . Le Foyer des Artfdts. 26 Linarol Ctsnsort ol Vids 27. knturina. 28. London Early Opera 29 Man¢hester Barcyue. ) Monteverdi String Band 31. Musica Antica Rotherhittr 32. Musca d'outrora" 33. Obligalo. 34. Pali88nder P4massus' 36. Passamezzo 37. Queen Victoria's Cortsort 38. Rautio Piano Tr 39. Red Priesl Strin95 40. Rose Consort ofVIo 41. Sakuntala Trio. 42. Solornons Knot 43. Sounds Historical. 44. Spinacim Con50rt' 45. Spirilato 46. City MuSk 47. The Telling 48. The Vauxh811 Band"
Contlnuo Foundation Registered company number: Registered charity nUmr. Trustees, R•pDrt CE025973 1194382 The geographic dislribLrtk)n of live wrforman¢s supported by grants awarded through end XJ23 is shown be5ow. Several lo¢ation5 have numerous ¢oncerts. SCOTLAND fth Unli 111gdo If•l•nd Icl Contlnuo Connect- a dlghal hub lor the UK •arly musle s¢¢tor aim of tl Continw Connect digital hub is lo irnprove the visibility and support the low-term financial sustairobility of period.in51rument ffiU5ician$. and to help live earfy music lo become acces5ibl8 for people in communities acros5 the UK The web$ite is intended to seNe as an engine for growth and a resource for discovery of the UK earfy music scene. Continuo Connect is fundamental to en8bling the Foundation lo scale and accelerate ils impact, and to slreamlirts ils proce$3es.
Continuo Foundatlon Register&J company numLr: Registered charity number.. Tru5tees' Report CE025973 1194382 Following research. ¢onceplualisalion, and initial proie¢t fundraisiThJ in 2022. the first ver$tin of the Continuo Conneca site trne available to professional UK period instrument ensembles in January 2023 Ensembles created profiles on th15 prof8ssion81 &le which brought all tke information together In one place as an InierHCtive directory of those artl$ts actNe in the Sector. sile also provided a platform for ensembles to list their upcornin9 corert$. which were aggregated to create the firsl compreh8nsve online database of early music ¢on¢ert5 across the UK, addressing the d)allenge5 faced by musicians and audiences arouThJ publici&ng and findir concerts. particu18rly in nDn-trad11nal venues wilhoul their own box oftice. Once the ste wa8 populated with ewmble profiles aThY COTKert ILqlings. it was annOUed to the public on 2181 Marth 2023. From that point, the focLKS of the Continuo Connecl team has been to grow the user basÈ of the &le. prirnarily through social media and reciproc41 marketiNJ. Haviry proved the concept of ContinuD Connect 3nd attracted Tnore than 1(Y) ensembles and IkK)U5ands of unique audience user5, a r ènd improved version of thè web511e went live al the end of October 2023. This new version offered faster performance. better degn and LBer interface. improved search capHbJlrties and additional features. The most importart of ttrEse was the creation of a 'Feature$" page for publishing Intervrews and artrcles by and about musicians. By includiThJ engaging conlenl, Continuo Conrct offers enhanced educaliL¥i and di8covery opportunities for the Pub¢. a 8vJnthcant IraSe in opportunities for sharing oll soaal media lo drive traffic lo IIE website. and a platforn for the mu&cians u&ng the te to Share their re8earch with a wider. more diverse audience. Idl Plans lor the luture The Foundation intends lo ntinUe wth iwo round$ of Proje grants of o minimum of £1(M),O(Ki per round each year, lo grow and develop the continuo con¢1 Mi-for-profrt digital hjb inrtiative lo undertake Otr activities In support of Foundation'8 mis%on and charitable objectiv. Flnanclal Revlew lal Golng Concern After makn'no apprapnate engrieS. the Trustee5 have a reasonable exFeCtalion that the Foundation h88 adequate resources to continue in operational existenc& for the foreseeable future and at least for the penod of 12 rncnlh5 from the sgning of this report. For thrd reason, tly Continl to adopt the going COrM basis in prepariTrJ the financi81 stslements. Ibl Fundlnq Sources and proc•ss The Found81ion raised furK15 from iTrJNidua15, Iru8ts and foundations and a ¢orpor21e thnor The fundraising was carried out Ihrolyh direct contact beeen the TIu51e&s and the donors In 3)23. Foundation raised £278,424. As Ihe first grant rotsnd each year is announced early January. £1.000 of this amount rdised in 20fJ wa5 earmarked for Grant Round 7 In January 2024. An additional £,[jOW8s earmarked for Grant Roynd 8 in 3)24 Tina Vadaneaux, Foundw and CEO of the Foundation, was responsible for day to day running of the organisdlion throughoLrt the year. inclL*Ying fundraising. She worked full time on a pro bono basis paid significant office and travel expen8e$, WitUt reimbursernent. The five expert advisory panel rnembers reviewed and evaluated 112 eligibk grant applutK)n8 rtceiv•J for Grant Rounds S and 6 in 2023. giviw Iheir lime on a pro bono basis.
Tndt
Continuo Foundation Independent examlners. mport to the board of trustees on the preparatlon of the unaudlted accounts of Contlnuo Foundadon for the year ende(131 D•c•mbèr 2023 We report on the examination of the accounts of Continuo Foundation lor trie year ended 31 09Mler 2023 which are set out on page$ 9 to 14. Respectlve respon51bllltles of trustees and examlnÈY The Charity's trustees are r8spon&ble for the preparth.on of Ihe accounts. The Ch8rty'5 trusle88 consider that an audit is not required for this year (under section 144121 of the Charities Art 2011 (the 2011 Act) and that an independent examination is needed. It is our reSPonbillty to., - examine the a¢¢ounts under sect.on 145 of Ihe 2011 A¢ to follow the procedures laid down in the General Directions given by the Charity Comrnission under Section 14515llbl of tlTre 2011 AGt,8nd . to state whether particular matters have come to our 8ttents.on Basls of the Indèpendent examlner's report Our examinal'on was carned out in a¢¢ordance with the General directions given by the Charity CommisFAoners An examinab.on Includes 8 revi of the accounts.ng records kept by tre charity and Comparison of tre accounts presented with those re¢ords. It also Indudes ¢ongderth"on of any unugjal items or disclosures In th8 a¢counts and seeking explanth"on5 from you as trustee5 con¢eming such matters The procedures undertÈken do not provid8 all the evidence that would be required of an audit. and consequendy I do not express an audit opinion on the view given by the accounts. Indepen(lent examlner'5 statement In the ¢¢urse cf our examination, no matter has come to our attention". IAI which gives us reasonable cause to believe that in. any material resp8Ct. the trust8es have not mel the loquirements to ensure that.. proper *counting records are kept in accordan¢e with section 130 of the 2011 Act". and accounts are prepared which agree with the ac¢ount'ng records and comply wrth the accounting requirements of the 2011 Act.. or IBI to which, in my opinion, attention Should be drawn in order to enable a proper understanding of the accounts to be r88 rwilliams Ltd Chartered Accountants The Olé Bank Beaufort Street Crickhowell Powy5 NP8 1A0 ILI7. tt024
Continuo FouThlation statanent of financlal actlvlties lor the yearended 31 DeCemr 20rJ Nots UnrBtheted fvnds 2023 Resthdas To funds Totsi funds 2023 20 Incom• gnd1ggaE Otr Irm6 258.424 3.128 20.CI)) 278,424 3.126 285.137 To•1 Ineorne ?61.) 281,$5) 285.254 Expondlture Raising fur CTIab actiwtie¥ Gonersl administralv)n 515 GornAnC0 costs 241 291.818 7,1 241 291.818 7.981 217. 1,291 Total eXndIts1 201,508
)1, 228.929 INetexpendibJ*eVnet income 20.(QO 56,325 Trdnsfets bets¥nI8 Net nbovementin .95 19,958 Reconcilaln of funds. Total funds br0ugmf0rrd J,081 173.7 Total fvndg carned torward
1194382 as at 31 0•llr 2023 Total Tol41 21113 J21 29AIJ 244. 274.448 C¥th It and 137 6)) 189.C 164.3XI (76.B131 210.IZI 2X).C41 I.123 io XO.17J a¥Jri Ch¥Jv5 ki 1 i. TY¥ Vd•n• 10
Continuo Foundatlon Notes to the Accounts for the yèar ended 31 De¢embor 2023 1 ACcoUnn9 pollcles Ba818 olprnper•tl¢ The actounts have b88n prepared on Ihe ?ru81S ba¥ under the histori(•l cost convention and in accordanco Nwth the char88 SORP IFRS 1021 Accounting and Reporhng by Charities.. Statemènt of Rewmm8nd8d Practic8 aPOabl6 to charitvas preparin9 Ihoir acwunts in ac¢ord4n¢é wrfth the Fina181 Reportiry Stsndard applicable in thé UK and Republic of Ir&land 18ffectve 1 January 20191. In¢om¢ Income trorn donation8 or grants 15 regnisd when th8Te is evid8nce of 8ntffdement to the grft receipt 1$ probabla and its arnount Can be measured r8li8bly. EYpendltur• Expendityrg is re¢ogni88d in th8 period in whiGh it Is IJd. Costs of charitable activities ts)mprise of oxp8ndktur8 identified as WllY or mainly attribUt8e to athigving the obj&Gtives of the tharity. awarding of grants are rec4gnised a$ xp8ndibJr8 wn there 1$ ewden¢è of a pr888nt legal or tx)nstructive obligab"on, settlement of th• liability is probable and its amount can meared reliably. Assets a&c financial assets are ni.$11Y recognisad at tranSactn wco including any tran82CtKsn costs and subsequ&nYy measurad 8t arnortised wst determin8d UgAng the effective interest method. Llabllltl Basc financial lial%'1ffj88 are initially recx)gniÈéd at transaction price net of any transgcti¢n &)St8 and subwuenly measured at arnartd cost detsrrtiinèd using the effective interest method. 2 Analy55s of Incom# 2023 2022 Donabons and I#08$.. Donations from individuals, trusteos. foundatron$ and ¢x)rrx)rate$ GrftAid Grants mu._year grants fJ3.611 4,813 20,000 20,WO 27e,424 157,507 7,630 120,0 285,137 Duiing the ar ended 31st DeLzfflr 2022, Continuo Foundatron wa8 8ward8d naw mult-Y88r grants.totsling £120.OCQ from the Adrlan Swrè Charitabla Trust, the Kathlean HanrAy M8morial Charity anLI Maecen2s. There are no performance-related condibon5 att8¢hed * the grants. so the income has btsen (X)gnIS8d in full as per Ch8rty SORP FRS102 guidancg as at the ygargnd tIre was evidence of entilement to Ihe grant, reuipt is probable and rts amount can m8asur8d rtliabty. Of the totsl grants of £120.(M)O rewgnisetl a$ in¢omè In full in 2022 y&ar8nd accounts, £40,CC() was paid in 20X. £55,000 was paid duriry 2023 and £25,(K)O remianing is payabl8 in 2024. The £.000 whiGh was stll out8tandiNJ as at 31st Deeernber 2023 is inClud in other debtors shown in the baLgn¢¢ $1ot
Continuo Foundation Notes to the A¢¢ounts for the year ended 31 December 2023 2023 2022 Other in¢omo,' Cashback Intsr8st rec¥ivable 3.126 3.126 1(6 117 3 Analysls of •xpendlture 2023 2022 Raing fund& Fundraisin9 costs 241 204 241 204 2023 2022 Charitable activ.88.. Grant rraking Isee note 61 Continuo Connect digilal hub expense5 204.400 87.418 291.818 196,200 21.e65 217.e65 2023 2022 General administration cost8.. Accounting advice B8nk ch8r995 Tr&vel 8xp8nses and monitoring of grants PR Consulting Website. tech. social media and gdmin 216 467 425 437 7,091 7,981 7,531 2023 2022 Governan( (x>sts". Legal and mgmber5hip fp&s Indep8ndent&xaminer&fees 343 1,125 1,468 211 1,080 1.291 4 Independent examlnatlon f••$ The Ind6pènd&nt frxarnineFs' fo05 for fv pgriod ending 31st Oecernbor 2023 were £1,125 aftd re unpaid at tha yeartnd. S EMploe5 2023 Number 2022 Numb•r Ara99 nurnr ol persorts employed by th6 charity 12
Continuo Foundation Notes to the Accounts for the year ended 310ecembgr 2023 6 Grant maklng 2023 2022 Grants- Round 3 Grants- Round 4 Grants- ROU 5 Grants- Rouwj 6 99,7(K) 95,2tK) 109,2CM) 204,4CI) 196,2CpJ 7 Debtors 2023 2022 Maria Blornn Mernorial Fund Grant Ott)er grants debtor Gfft Aid 25,OC¥) 4,813 29,813 7,630 137.830 Amounts dua 8r mor8 than on8 y6ar includod abova 25,0 As at 31bt Dernber 20rJ a rvmaining amount of£25,0 of grant fijnding awarded duriw the year 8nd8d 31st 08cembor 2022 had yetto b8 paid to conb.nuo Foundation. 8 Crndltors.. amounts falllng due vlthln one ypar 2023 2022 Trade cr8ditor8 rua15- Round 4 9rants awarded payments outstsnding ruals- Round 5 grants avrarded payments outstsnding A(ruals- Round 6 grants awarded payments outstanding Accruals- Independ8nt èxamin&rsfees Accruals- Wabsite d8syn ¢osts Taxati and social security o)sts 74,1 1,1 770 1,080 1,253 76,613 64,325 g Unre$M¢t4d Fund$ Fund balan¢os brouqhtforward 2023 Income EXp•ndIre Unrgstrictsd fvnds.. Genaral unresthGlvd reserve 0egnatsd funds 10.QKNJ 0,081 0.081 10,(MJ) 180,123 190,123 261,550 1301,S)81 301,508 Designatèd funds are part of unrestricted funds and hsve been 8armark8d by Trustses for tha tsvo grant round8 plann8d for 2024 and costs associate(J wth the Coninuo Connect di9itsl initiatsve. 13
Continuo Foundation Note5 to tho Accounts for tho yeai ended 31 December 2023 10 Restrl¢ted funds Fund balances brought forward 2023 Income EXrtd1re 20.0 20,OCX) Restrictsd funds includ96 8 £20.(hX) TASK grant made on iKihaM of a trustèg of the Esm8È Fairbaim Foundaton which is restrictsd to supporbng a spgcific on88mblg in the casts that they mount an artistic project by June 2025 After this datè, rf not used, thè furid5 will ba rèl6•sed to 8UPFX)rt grants to pBriod instrum8nt erisernbPes. 11 Transa¢iions wlth Trustses and relatqd patytransactlons None of th8 Trust995 lor any pen$ connected wlh them) r0ceivd any rernuner•tion or from the Charity duriro the year 8nd4ng 31st December 2023 12022.. Nill. No TruslBes were reimburstrd for any èxp8n5es during Ihe year ending 31 st Decèmber 202312022.. Nil) There were no other related party trans2¢tK>ns duriw erTding 31st Decmb8r 20fd whith requir8 dp&closure. 12 Charlty Infomiatlon Conknnuo Foundation is a Gh8r1tsle Incorporatsd 0rganisots.on registered in Eryland and Wales at Cornpanvas House, r8glStration nulnber CE(Y25973, and a regi$tsred chanty. r8gi8tr4tion nUrnr 1194382. Its princip31 office Is 64 Barkston Gardens London SW5 OEL 14