Registered number CE025973 Continuo Foundation Report and Unaudited Accounts 31 December 2024
Continuo Foundation Report and accounts Contents Page Charity infom)alion Trustees, rewrt Independent examiner5, reF Slatemenl of financial 8Ctivrlies Balance Sheet 10 Noles lo the 8ccounls 11
ContF"nuo Foundation Charity Inforniation Trustees Stephen John Uhlig - (Treasurer) Pelayia Tina Vadaneaux- (Chairl Benedict Palrick Vanderspaf Tom WeisselLerg Ritt8 Liisa HiNonen Vincenzo Tuozzo Philip Turt)eii - appointed on 6th C*¢ember 2024 Independent examiner Catherine A Williams Ltd The Old Bank Beaufort Street Crickhowell NP8 1AD 8ank•rs C.Hoare & Co 37 Fleei Slreel London EC4P 4D CAF Bank Lld 25 Kings Hill Avenue Kings Hill est Matting Kent ME19 4JQ Charity's principal address 64 8arkston Gardens London SW5 DEL Registered company numb•r CE025973 Registered charity numb•r 1194382
Continuo Foundation Registered number-. Registered charity number: Trustees. Report CE025973 1194382 The Irusiees present their report together wth the temallY examined financi81 statements for the year ended 31 Dec4mber 2024. The finanual statements comply with current statulory requirefflenls and with the requirements of the char51y's governing docuinent. The reference and administration delails shown on the preceding page form part ol this report. Structure. govemance and managemenl Continuo Foundaiion Ilhe Foundalionl is a chafit8ble Incorpor81ed organisalion (CIO). The Found41ion was regi*ered wilh the VK Charlly Commission on 7 May 2021 (no. 1194382). 11 is govemad by its Conslitijlion. The Trustees who served the charity dLtring the year Yre as follows.. Stephen John UhliQ - (frEasurer) Pel8yia Tina Vadaneaux - (Chair) Benedict Patrick Vanderspar Tom Weisselbe Rilla Liisa Hirvonen Vincenzo Tuozzo Philip Turbett - &pInted on 6th December 2024 The Truslees meet regularly, al least 6 times Fer year. M8llefS discussed and reviewed by Ihe Trustees include consideration of grant-makino aclivilies Ipasl. present and luture). the Conlinuo Connect digital inilialive. the ¢urrenl stale of the Foundation's cash and reserves Poslion and strntegy. The Trustees are commrtted lo the princifAes of the Charity Govemgnce Cc¥Je. Objects and actlviti&$ fol th¢ public beneflt The Objeds of the Foundation are.. To advance e(luoalion in the art ano sclenee of music. in particular fxrt nol exclusively to prom%Xe, develop ano mainlain education in the apprecialion and knowledge of classical musio herilgge and hi51orically-informed perfomance practice lor the public benefit by providing grants lo UK based period ensemt)les specialising in pertoire frown the medieval, renaissance, baroque. classical and earfy romantic Feriods. The aim is io carry out these obiectlves by all such lawful means as the Truslees Ihink frt. The Truslees confirm Ih8t they have referred to the guidance contained in the Charrty Commission's general guidance on a public teiielii when revièwiiig the Fouiidaiion's aims and otyeaives and in setting the grant making policy for the year and the futu. The Foundalion carrie5 Out these objeiveS thrDugh two slrands of activrty.. (11 investiro In caer- building and repertoire-expanding projects through grants lo period insirumenl ensembles resident in the UK. and 12) the Coniinuo Connecl (Jigi181 inrtialive. These two strands of activity provide invesimenl and visbilily, both of bvhich are fundamental to the g[Dh and flourishing ol the UK e8r1y music sector and ils slakeholder5.
Continuo Foundation Registered number: Registered charity number: Trustees. Report CE025973 1194382 The Foundation also contributes to the professional development of earfy music artisls. partieularly emerging artists, and helps them to improve their long-lemi financial suslainabilily. Through Continuo Connecl, it prOvleS a professional plalfoTm for artists and festivals to connect with wider 8udien¢es, The Foundation also plays an important role in championiflg early music, strengthening the ecosystem and helping musicians to briNi live music 10 larger. more diverse audiences in mo places across the UK. Achievements and Perfonnan¢e la) Grant4naklng policy and practlce The Foundation carried out hvo rounds of project grants in 2024 and received 100 grant applications from UK pen¢-inStrurnenl ensembles. The 2024 rounds were as follows.. Round 7.. opene¢J for applications on 9 January arKI announced awards to 27 period-instrument ensembles on 21 March, supporting projects scheduled lo take pla befven April and end of Oclober 2024, Round 8.. opened for appli¢alions on 9 July and announcèj awards to 27 peno&instrument ensembles on 23 September, supporting projects scheduled to lake place between November 2024 and end of Aprfl 2025. All granl applic81ions received were assessed in a ITr31a9e pffjcess. Flrst, 811 wcre evaluated by the Foundation's expert Adviwry Panel, whose members indude: David Hill MBE Dr, Berta Joncu5 Lindsay Kemp Catherine Mackinlosh Joseph M¢Hardy The Advi50ry Panel ranked each project based on ils artistic excellence, imaginative programming and creation of work for freelance musicians. These consensus rankings We prescnted lo the Trustees. Each Trustee evaluated and rated the recommended projecls Final award dec¢sions based on the ratings and discussion arnong the Trustees. All applic8nts V•ere Informed of the oulcome before the awards were publlcly announced. {bl Analysis 01 Grnnts Awarded in 2024: Total Amouiil Awarded.. Average Granl Amount.. Number of Projccl Grants Awarded.. Number of Ensemble tneficiar1e5'. of which emeruing gmups.. £198.850 £3.700 49 17 Following on from the review of 100 project aranl applications Ceived, awards were made lo the ensemble5 below. Those wth . are CentlY formed ensemblcs, a new catffjory introduced in 2022 for groups eertce for less than four year5 at time of application. 1. Academy of Ancient Music 2. Apollo's Cabinet
Continuo Foundation Registered number: Registered charity number: Trustees. Report CE025973 1194382 3. Armonico Consort 4. Azur EnSeme. 5. Baroque in the North 6. Bellol Ensemble, 7. Bloomsbury Players. 8. Brook Streel Band 9. Ceruleo 10. Chelys Consorl of Viols 11. Concert Trombone Quartette 12. Consone Quartet 13. Dialcgue Vlols. 14. English Haydn Orchestra 15. Ensemble Augellelli 10. Ensemble Molière 17. Ex Cathedr8 18. Flori Musicali 19. Florilegium 20. Ftwork 21. Galliarda 22. HGOAnliqua Orchestra 23. larrte Collective 24. La Nuova Mu51ca 25. L8 Serenlsslma 26. Le Foyer dcs Artistes. 27. Liturina. 28. Lonoinium Consort. 29. London Obbligato Collective. 30. Lowe Ensemble. 31. Lux Mucae London 32. Manchester 88roque' 33. Musica d'outrora. 34. Newe Vi811es' 3S. NOl¢h Baroque 36. Palisander 37. P8ssamezzo 38. Phanlasia. 39. Players of the Hampstead Colleclive. 40. Pocket Sinfonia 41. Saraban 42. Seslina Music 43. Sounds Historical" 44. Spiritalo 45. The Mozartisis 46. The Telling 47. The Vauxhall Band" 48. Trouvere 49. 2AREK Irio"
Continuo Foundation Registered number: Registered ¢harTty number: Trustees. Report CE025973 1194382 The ge(N3raphic distribution of live performances supported by grants awaftled through end 2024 is shown below. Several locations have numerous concerts. .SCOTLAN f¢1 Unit Kir PIORTNI IAI , llé ol Ireland %AI ES Ic) Continuo Connect- a digital hub for the UK earty music sector The Continuo Connect dMJilal hub provhJes visibilrty and supports the long-lemi flnancial susiainability of pericrfl-in*Tuinenl musicians, while helping make live earty music concerts acce55ible for people in communrties across the UK. The website serves as an engine for growth and 8 resource for discovery of the UK early and baroque music scene Continuo Connecl is fundamental to ènabling Ihe Foundation to achieve its mission and also corrtr¢bJtes lo streamlining its prfxesses.
Continuo Foundation Registered number: Registered charity number- Trustees. Report CE025973 1194382 The Continuo Connect website an interauive directory of profesgonal artists active in the sec#or. The sile 81so provides a platform for artists lo list their upcoming concerts, which are aggreoaled lo creale Ihc only comprehensive online database of early music concerts across the UK, addressing the challenges faced by musicians and audiences around Publicising and finding concerts, particularly in non-tradrtional venues (eg. churches, barns, lo7 halls. etc.) 4wlhoul Iheir own box oifice. The focus of the Conllnuo Connecl le8m is to grow audiences for eafly music concerts and lestiV8L8, and lo educate the public aboth early and barcque music through articles. inlerviews and ayli515. Thus. the 5fte also offers a platfomi for the mu&cians using the gte to share their research wth a wder, MO diverse audience. The team produces a fortnightly newsletter and uses soal media and recAprocal marketing lo grow audiences Ofganically. The team works th a digital partner. T5 digital. for softsyare developymenl and site malntenartce. securTty and feli8bS1ity. aiming to constantly improve the user experiente. Id) Plans for the futur• The Foun(Jalion inlcnds to contlftue with founds of project grants of a minimum of £100,000 pei wound each year, lo grow an¢J develop the Continuo Conneci nol-for-proltt digital hub Iniliallve and lo undertake olher activilles in support of the Foundation'5 misslon ano charitable objectives. Financial Review ia) Going Concern After makirtg appropriate enquiries, the Trustees have a rea50nable expectation ih8t the Foundallon has adequate resoLrrces lo conllnue in operational existence foi the foreseeable fulure and al least for the period of 12 months from Ihe 5unino of this report. For Ihis reason. they contlnue to adopl the going concem basis in prEparing the financial statements. Ibl Funding Sources and process The Foundation raised funds from wivate Individuajs, trusts ana lound81ions. The fundraising was carried out Ihrough dlrecl conlact betsen the Trustees and Ihe donors. In 2024. the Foundatlon raised £394.221. Tina Vadaneaux, Foufider CEO of the Foundation, was responsible for the day lo d8y running of the organi5alion throughout the year. inclu(Jing fundraising, She worked full lime on a pro bono basis and paid significant office and trdvel expènses, wilhoul reimbur5emenl. The five expert aisvisory panel members reviewed and evaluated 1 CQ elioible grant appliGg1ion5 received for Grant Rounds 7 and 8 in 2024. giving Iheir lime on a Pfo tx)no basis.
Continuo Foundation Registered number: Registered charty number: Trustees. Report CE025973 1194382 The Trustees confirm that 100% of Ihird-party donations (i.e. other than from the Trustees or donors who specified Ihal their funding could be used to supwrt the Continuo Connect inllialive or njnning costs) were used for project gr8nts. The Trustees also recovered Gift Aid on don8tlons, where appropriate. (cl Reserves policy The Trustees have instituted a reserves policy and ¢onsider ihal maintaining free feserves of £80,C¥JO in unrestricted funds is sufficienl lo cover the minimal support and govemanco costs. and to ensu conlinuily of the Continuo Connect digit81 inttialive for an appropnate period of lime. Idl Confllcts of Interesl The Foundation has 8 conflicts ol interest policy and maintsins a register of relevant Inlerests. Nu breaches of that policy wefe identified during 2024. (•} Absence of Remuneratlon There was no remuneration nor reimbursement of exFenses paid to any Tru51ee nor lo any member of the Advisory Panel for all the work Caled oul in 2024. Statement of Truste•$' responsibilitiés The Tru51ees a rèsponsit4e for preparing the Annual Report and the financial slalements in accordance with 8pplicable law and for being satisfied that the financial statements give a Inie and lair view. The Truslees are also sponsIble for preparing the finandal sialements in accon1ance with UK Accounting Standards. The Truslees are responsible for keepi adequate accounting rEcords Ih81 show and explain the charity's Iransactions and dixlose with re950nable accuracy at any tlme the financial Fosilion of Ihe charity. This report was approved by Ihe boartl on )s.,É 12025 and shaned on its behalf. Pelayia Tina Vadaneaux Chair of the Trustees
Continuo Foundation Independènt examiners. report to the board of trustees on the preparation of thè unaudited accounts of Continuo Foundation for Ihe year ended 31 December 2024 We pOrt on Ihe examinalion of the accounts of Continuo Foundalion for the year ended 31 December 2024 bthich are set out on pages 9 lo 14. Respective responsiblllties of trustees and examiner The Charity's trustees are fesponsible for the preparation of Ihe accounts. The Charity's trustees consider thai an audll Is not required for this year (under seclion 144{2) of Ihe Charilies Act 2011 {Ihe 2011 Act) and that 8n independent examination is needed. It is our responsibility lo., examine the accounts rer sectlon 145 of the 2011 Ad., to lollow the [edre5 laid down in the General Direclions oiven by Ihe Charity Commission under seclios) 145{5)Ibl of the 2011 Act ,'and - to stale whether p8rticular matters have erne lo our attention Basis of the Independ•nt exafflinefs report Our •x#min8lion was carried out in arxordance with the General directions given by the Charily Commissioners. An examination includes a review of the accounlino records kept by the charlty artd comparison of the accounts pre5ente(J wilh those re¢or(Is. 11 also Includes consider31ion of any unusual items or disclosures in the accounts and seekiTrJ explanatlons from you as Injslees concerning Such matters. The procedures undertaken do not provide all the eVKtence Ihal would be required of an audrt, and consequenlly I do not expr05s an audil opiiiion on Ihe view givén by the Ount$. Independent examin•r's statem•nt In the course of our examin81ion. no matter h8s come lo our 8ttenl10n'. (A) which gives us rÈa50nable c4USe to believe Ihal in. any malerial r8sFecl. Iho truslees have nol mot the requ1MentS lo ensu th8t'. proper acco¥Jnling records 8re kept in accordance wilh seclion 130 of the 2011 Act,, and accounts are prepared which agree wrth the accounting records and comply with the attounling requirements of the 2011 Act: or (BI 10 which. in my opinion. attentlon should be dwn in order to enable a proper understanding of the accounts lo be rEached. Charted Accounlants The Old Bank Beaufom Slreet Crickhowell NP8 1AD ?.. I12025
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Continuo Foundation Registered number: Registered charity number: Balance Sheet as at 31 Dacèmber 2024 CE025973 1194382 Total funds Totsl 2024 2023 Current ass•ts Deblo Cash al bank and w) hand 100,017 301,535 401.552 29,813 244.635 CrEditors: amounts falliThJ due within one year {99,2301 {64,325) Not currerrt a$5ets 302,322 210,123 Net assets 302,322 210,123 Funds Unrestricted fvnds Restricted funds 282.322 20.000 190,123 20,000 10 Total funds 302.322 210,123 The trustee8 are sab"sfied that Ihe tharty l¥ entrd to exemption from the requwement to obtsin an atsdit der the Cliarrties Acl 2011. The trustees aeknowledge Ihek re3pons1brfe$ for complwng the requirements of thè Charibeg Art 2011 re¥Ject to accountmg records and the preparation ol ac¢oLM)ts. Pela& fina Vadaneaux Chair of the Trustees Approved by the board onS.1.6J2025 10
Conlinuo Foundation Notes to the kcounts lor the year endgd 31 DÈcember 2024 ACcoUnU policies Basls ofpr•pw3tlon The 8c¢gunts have been prep8red oft the accruab bth5 Ljnder htr1 cost cmventron and in x¢ord8 th¢ Chaiibes SORP IFRS 1021 P£counting Reportlng by CharffjES Ststernent ol Recommended Pr¥tice applrable to charthes preparg ther a¢counts In cardance Vhth the Firrants Reporbwd Stsard applThble In th• UK and Republic ol Iret8nd leffethe 1 January 20191. Irorne frllm donations or gr8nts is reeowffjgd vthen thtre evKIe• ol endern8nt 10 th grt re¢eipt % probaNe rts amowt can b m•aswd rBliabty. EXpditUr1 E¥penditure is fa¢ognlsoé Ihe penod rt Is uert Costs of chwtable a¢livits"¢s comprise of expen(&twv tdethad as or manly attributa¢ to hi¢vng the objectr¥es ol the thaity Tho 8wJrdino of 9rants we recognised a$ exp¥ndrture %trhèn Ihefe thdence of a pr06ent or cOrtsirLVe obligatron. setUÈment ofthe liablty B probable and it5 amwnt cw rneaed r•b"y. Ass•ts lasK fingncial 4s5•ts ore iThtwlty rQorse¢ at transOn 11n9 wy trartsactl c¢6ts yJb5equenty me0jrtd * 8mDrb5ed cost determined whig Ihe ellectlve inlerem meiho4. Llthbllltl•s Basic financial liabihbes ar• initially re¢ogn•d at trartsaction pnce any transtsn ¢orts and yJbs•wenUy me¥wr•d at amcrts¢(I co d¢ttrmmeil the effectve Intere51 method. AnaW¥ ol In¢ome 2024 2023 Donthn4 ond Donabons from indMlud5. trusttt8, fowdobws ¥nd cupor8te$ 249,421 9,800 233.611 4.813 20,000 20.000 278.424 Grants Mukn.ye&r gr4nts 135,OCJ 394,221 Durtng the year ended 31st DvKvmber 2024. Conl'nuo Foundauon was n¢w mthyear grts tola1ing £135,000 from the Kathl¢on Hannay memori Chwty arml the Maria 8jorson Memorial Fund Thero arè no Performae-re18ted condfoors attached lo the grants, so the Ir¢om¢ has been recognBed in lul as per Charty SORP FRS102 a5 at Ihe yew end there was eviderte of enlement to Ihe gr•i( t•c¢Jpt ts probJble and rts drnount can be rneure¢J reh8bty Of the lotal grarts of £135,000 recowtsed as Iorne n ful in Ihe 2ts24 ye8r end accouni5. £45,000 pad m 2024 £45.ry)O s poyablw in 2025 and the r¢mwning £45,000 is payable in 2026 The £90.000 was stiH oLrtstsnthry a5 at 31$t December 2024 is kn¢Jed in gther sjebtors shown in the balar£e sheet. 2024 2023 Other Incorne. Interest re¢erae 9.340 9.340 3.126 3.126 11
Analys15 of expendlbjre 2024 2023 RasÈng fvnds.. Fun%aising costs 600 600 241 241 2024 2023 charit9b athitses". Grant rnaking Iseg note 61 Conknuo Comect digrtal expénse6 193.975 111.23? 305.207 204,400 87,418 291,818 2024 2023 Generw admmistration costs.. BgAk ch8rges Travel èypetse5 and moritoring of grarrts PR conSung Webste, tech, s¢xid medkg {1 Adrnm 428 182 550 2,607 3.767 437 453 7,091 2024 2023 GovèmaKe costs.. Lèg418nd mombeT%hlp t••$ Ind•pendt examiner5 f•es 343 .125 1,468 1.320 1,78 Indtpend¢nt •xamlnatlon f••s Tho Indepennt •Xarni1S. te•9 for th¢ p•rul (Ing 31st D•¢•mber 2024 wrg £1,320 snd w¢re lpd ot the yeor end. Employo 2024 Nurnber 2023 NUmr Aver•ge numbèr ofper8orA eMpknd by the ehonty Grant mako 2024 2023 4nts. Round S Grants. Round 8 Grants- Round 7 Grants- Round 8 14.4001 14751 99,350 99,500 193,975 95,200 109.200 204,400 Oebtors 2024 2023 Trade d¢blors Other ants debtor Gfftd Deferred tax ass•t Other debtors 90,000 9,8) 25.000 4.813 217 100,017 Amourts éve after more than one year dude )ove 45,000 As at 31sl December 2024 a remaThng Amount of £Y).QOO of gratrt lunding awarded to Cont'nuo FoLndatr'on dwing the year ended 31 Decernber ?024 had yei to be pahj 12
Cre(lrtors: amounts lalllw due ¥thln onc year 2Q24 2023 A¢tru- ROrj S gts awarded payments outstn9 Ac£njS- Rolmd 6 orants Trrded payments outstanding xru5- RoLmd 7 grants awarthld payments outst•)ding knruals- Round 8 grants awarded payments Lxrtstandnig Acttuats- Independent oyaminer5 fees A(uuals- Websrte design costs 6.2trJ 56.230 97,910 1,320 1.125 770 64.325 99,2fo Unrestricted Funts Fund bala• brought forward b)¢om• Expendlbjre 2024 Unr•strried fuDd5." G•neral urvestse(I r•séfve De81•d funds 10,000 180.123 190 121 70,000 333,561 403.561 80.000 202.322 282,322 311,3621 311,362 Dewgnat•d fuThYs are part ol uNtrslricted fLfftd$ and have be¢n eamwked by Tnnte•s for lh¢ grl r¢w¢J¥ plamed for 2025 and costs assooate(1 wth th• CtO Conn¢ct iritsthe. 10 R•Atsl¢ted lunds Fund l)alance$ brought lor44fard EXpendj1¢ 2024 R•Str 20,000 20,000 R•5trcted ljnds IrhJdes a £20 000 TASK ant made on b•haK ol a trLtslee of th¢ Esm•e Frba1rn Foundatsvn is rostrrcted to SUPPOn9 a Spec er6erntrA• n respect of arbstic pr•J¢ct to ts• mounltd in 202r 11 franmcttons wlth Trust••s and rtlat•d party transactlw$ None of Ihe Trustees lor any persons cgnnected Ihèml réceived remerSban or benefils from th¢ ¢hgt1ty durin9 the year ending 318t December 2024 12D23'. Nil) No TrustEes w•ra reimbltsed for expens•s (bjmg th• yew ending 31st Oecernber 2024 12023. N) Thefo w•ro no other rdated pwty transxon$ tho year onding 31st Decemb•r 2024 whKh requhè dis¢lvswe. 12 Ch•rlty Infom11 Conbnuo FoLmdation a Chartsble IrKorporote¢J Organalrn remttred In Enand and Wak5 at coMpanS H04ts•. regi&tralion nurnber CE025973. *d a regstered charty. reo6trth.on nufflber 1194382 Ms principal tye E.. e4 Bwksioo G¥der6 London SW5 OEL 13