Charity Registration No. 1204080
The London Philharmonie Trust
Report and Finaneial Slalements
31 August 2024

The London Philharmonic Trust
Charity Registrati&ll No. 1204080
Report and financial statements 31 August 2024
Contents
Page
orricers and professional advisors
Trllslees, Report
Statefftent ofTrll51ees' Ye$ponsibilities'
Independent #uditor's report
Statement of Financial Aetivitle5
Balance Sheet
10
Statement of Cash Flows
Note5 to the financial statements
J2

The London Philharmonie Trust
Officers and professional advisers
31 August 2024
Registered Office
4th Floor, 89 Albert Embankment
Londo
SEI 7TP
Registered Charity Number:
1204080
Trustets
David Buckley
David Burke
Marlin Hohmant)
Cathei'ine Hogel
Gai'eth Newman
Laurence Watt {Chair)
Our Adyilors
Auditors
Crowe U.K. LLP, 55 Ludgale Hill, Loiidot), EC4M 7JW
Hoare & Co, 37 Fleet Stiret, London, EC4P 4DQ
Charles Kussell Spe¢chly& LLP, 5 Fleet Place, London, EC4M 7RD
Bankers
Solicitors

The London Philharmonic Trust
Trustees, Report
31 August 2024
Introductio
The Trustees present their annual report and the audited financial stateinents for the yeai. ended 31 August 2024.
Strueture* govern&nee and management
Govei'ning dociimenl
The London Philhamionic Trust ("Ihe Trust) was ¢stablished by trust deed on 15, September 1987 and is a registered
harily number 1204080.
Ti'iis1¥￿ andorgnnisalion
Trustees hav¢ the power to appoint fvrther Trustees, new TTUStees are recruited on the basis that by virtue of iheir
knowledge, eXp￿.lenCe and qualifications they will b¢ able to make a contribution to the pur8Uit of the objects tsr
the management of the Trust. Induction and training 1$ provide41 to TnJsiee5 as necessary.
Theie ale three Ti"ustees in common with The London Philhannonic Orchestra Ltd {"the LPO"), but they do not have
the deciding vote.
C'onneciedchurity
The LPO (Charity Number 238(145) is a connected charity of the T]ust by virtue of the fact that the two charities
have shared objeciiv¢s and administration. However, the Trn$t is independent of the LPO and has it5 Own Board of
Trustees.
Objecllves #nd attivities
The objects of fhe Tyusi as set out in the governing document are;
(a) the advancement of public musical educaiion in geDeral and (without prejudice to the generaliry gf the
foregoing) in particular..
(i) by pracuring sponsoring or as¥isting th¢ performance of musical works of the hi￿est quality in any part
of the world by the London Philharnionic or seciion oy 5ECtions of the London Philharn)oni¢-
(ill by encouraging improvements in standards of performance by the London Philhannonic.
{iii) by promoting the dev¢lopment of musioal appre¢iation by the geneial public by COM￿l$S1o￿lng
¢ompositEon8 and by procuring sponsoring or assisting the perfomance by the London Philliarmonic of
Inusical works of high quality or olhistoi'i¢ or otheT interest which aiE not fi'¢quently perfoi'med and.
(iv) by the preservatEon and expansion of the library of the London Philhaiinonic.
(b) to suppoit the charity called the London Philhamionic Oichestra Limited iii all or any of ils objects and a¢tiYities
including (withoutprejiIdice to the generdlity of ihe foregoing) the maintenance and iinpi'ovemeni of its pittnises the
supply of all su¢h things as Inay be required for thal purpost or for the objects set o￿t in 3la) abov¢.
The Tmst's main activity is to build long-terin funds. wl)ich will generate i'etyi'ns that can be used to make grants,
which suppoit the charitable object5, includinggi?ntS lo the LPO as thTS is considered essential to being able to secuiE
the LPO'$ future.
The Trust does not use the services of Vol￿nteerS and LPO staff uiidertake th¢ minim31 operational tasks of the Trust.
Piibli¢ BenEfiÈ
The Trust provid¢s benefit to the public indirectly by PlDviding funding to the LPO and thereby supponing a world-
¢lass orchestra and its conc¢rt programme, providin¥ high-qu4lity perfomiances in London as well as on tour and
digltally) alongside wider actÉvities including education and community programines.
Th¢ LPO'S core aciivities encourage the education of, and paiiicipalion in, music by the public at large. The is
achi¢ves thi'ough public concerts whieh liave accessible tiekei prices, some of which are broadcast on the radio,
television and th¢ internet and through audio rewrdit)gs which are widely available at low cost.

The London Philharmonic Trust
Trustees, Report
31 August 2024
The Truste¢s confiiin that they have referred to the Charity Commission's guidance OD public benefit and they believe
that the support to be pi'ovided io the LPO provides benefit t(1 a wide section of the public.
AehieYemeDtS ¥4nd performan¢¢
The Trust currently holds its funds itt a range of notite deposit accounts with a view to generate income io support
Èts charitable activities ill futUlE periods. The trustees will review the most appropriate stewardsliip of funds and
consider the appointment of invesbtseni fund managers in future p¢riods.
Finftiicial revi¢w
Total income received in the year was £103,592 ￿l&ting to bank interest received.
Expenditur¢ during Ihe year lotalled £1 1,657 expended on professional and bank fe¢s.
Reserves policy
Of the Tnlsl's total fuE]ds of £2,887,63812023 £2,795,702} a total of £2,163,203 (2023 £2.085,9111 comprise
Kestricted Funds. which can only be used for sp¢¢ific purposes. Of the remainirkg Unrestricted Fund5, £617.047
(2023 £595,000) have been designated for spechfic purpose& leaving £107,388 (2023 £114,791} in the unresiiic*d
G¢ncral Fund, which in the trustees opinion is sufficient io meet the day to day requittments of the charity, given
that the Trust has minimal adininisti'alivr ovei'heads and no ongoing liabilitics. These unr¢5tri¢ted und¢sibJndted
funds would also be Sufficient to make TllLKlest grant5 in litje with the tsrganisations objects should there b¢ a
requirement that cannot be met from I'¢sti'i¢ted oi. designated funds.
Risk review
The majoi. i'isks to which the Tyust wi51 be exposed going forward relates to proteotÉng the value of the Trust's
assets. cU￿entlY assets are h¢ld in casl) in 8 range of iiolice accounts and are not subjeot to fluctuations in nominal
value, however theii. I'eal value will be impacted by inflation. To address this inflation risk the Trustees reYÈew the
charity'5 JS5et5 and Whe￿ these are held at each Trust¢e meeling, COE)sidering factors such as th¢ state of the UK
econoniy while doing so.
Plaus for the future
The Trustees will review the Inost &ppropTiate stewardship of fund5 aThd consider the appointment of investtnent
fund managers in future periods. This would expose the charities ass¢t5 to a broader range of e¢onomie factoi's such
as mov¢ment in share prices and exchange i"ates, which would iTnpact the value of investment assets. Trust¢
would ¢onsider the future time horizons of grant makEng plans when setting inv¢stment mandate5.
Grants to 5UPPOrt ¢he work of the LPO ￿'e exp¢¢ted to be in8de in future periods.
Goiiig coneer
At tlie year-end, the Ti'ust ha5 significant D¢t assets, miniTnal liabilities and operating costs. Grants are only
warded if sufficient funds are available io fund the necessary paymeiits. The Trustees have a reasonable
expe¢tatiot) that the Trust has adequate resources io continue its activities for the foreseeable future and consider
that there were no matei'ial uDGei1ainties over the Trust's fithatJoiAI viability. Accordingly, the Truste¢s continue to
adopt the going concern basi5 in prepai'ing the financial stat¢ments.

The London Philharmonic Trust
Statement of Trustees, responsibilities
31 August 2024
The Ti'ustees are responsible for preparing the Tiustees. Rrport and the finaiicial statejnents in accordance with
appliLuble law and Ullited Kingdom AccouTlting Standol'ds. Th¢ law applicable to chai'ities in England and Wales
requii'es the trustees to prepare financial statements for each f2Tkan¢ial year which give a true and fair view of the
slaie of affairs of the charity and of the income and application of resources, including the income and experlditure,
of the charity for that period.
In prepqi'ing these financial statements, the Trustees are iequired to..
seled suitable aecounting policies and th¢n apply them con51Stently;
obs¢rve the methods and pi'inciples of the Charities SORP,.
make judgments at)d accounlin&y estimates that are I"e2sonable and prudent;
stat¢ whether applicable a¢counting Standards have been followed, subject to any d¢partur¢s disclosed and
explained in the fjnancial stat¢ments' and
prepare the financial statements on th¢ going eoncern basis unle&s it 15 inappropriate to presume that the
harity will continue in operation.
The Trustees are responsible for keeping accounting record5 which disclose with i'easonable accuracy the financial
position of the charity lind enable them to ascertain to enstsre that the linancial sldteinents comply with thc
Charities Aet 201 I, tht Charity {Accollnts and ReporL%) Regulations 2008 and ihe provisions of the trust deed.
Tliey are also responsibl¢ for safeguarding the a$$cts of the rhai'ity and hence foi. taking reasonable steps foi. the
prevention and dete¢tioTr of fraud and other ittegularities.
This report w
prov
by the Trust
on 19, June 2025 and signed on their b¢half by..
Laurence
Trustee (
air)

Independent Auditor's Report to the Trustees of The
London Philharmonic Trust
op1￿70n
We have audil¢d the financial statements of The London Philhamonic Tyust (the'charity") for
the year ended 31 Augttst 2024 whiLlI Lomprise the Statement of Financial Activities, the
Balance Sheet and the Statement olcash Flows, And notes to the finiincial statements, including
significant accout]ting policies. The finan¢ial i'epoi'ting fi'amework that has been applied in their
pr¢paration is applicable law and Uniled Kingdom AccountiDg Standards, including Financial
R¢porling Standard 102 The Financial Reporting Standard applicable in the UK and Republic
of litland (United Kiiigdom O¢iitrally Accepted Accounting Practice).
In our opinion the flnancial statements-
give a true ai)d fail. view of the stale of the charity's affails as at 31 August 2024 atid
of its income and expenditur¢, for the year ih¢n ended,.
have been pi'operly prepared in accordance with United Kingdom GenBrally Accepted
Accounting Pra¢tice; and
have been prepared in accordance with the Tequiremenls of the Charitie5 Act 2011.
B8$is for opinion
We ¢onducteii our audit in accord311CE Wlth Internaiional Standhrds on Audi(ing (UK) {ISAs
{UK)} and applicable law. Oui. responsibilit￿e9 under those Standards are further described in the
Audilor's responsibilities for the audÈt of th¢ finaneial stateTD¢nts section Of our report. We are
indep¢ndent of the charity in accoi'dance with thc ethical requirements that are relevant to our
audit of the fmaucial statements in the UK, including the FRC'S Ethical Standaid. and we have
fulfilled our other ethieal responsibilities in accordance with these requir¢mtnls. We believe
that the audit evkdence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Conclusion$ relating to going eoncerD
In auditing th¢ fiThancio15tatements, we have concluded that the trustee's use of the going
toncern basis of accounting in the preparation of the fjnancial statemeDts is appropriate.
Based on the work we have perfornied, we have not identified any material unceiiainties
relating to events or ¢onditioiis tliat, individually or collectively, may cast signiticant doubt on
the ¢harity'S ability to cotjtinue as a going concern for a period of at least twelve months fro
when the financial statemetjts ale auihorised for issue.
Our responsibilitl¢g and the responsibilities of ¢h¢ ts"ustees with Irspect to going con¢¢m ore
described in the relevant sections of this report.
Other Inlormation
The trustees are responsible for the other information coniained within the annual i'eport. The
other infoiillation coinpi'iscs the infonnation ineluded in th¢ &tnnual report, othei. than the
financial statem¢Rts and our auditor's report thereon. Our oplliion on the financial statements
does not cover the other iiifomation and. except to the ¢xteTht otherwise explicitly stated in our
report, we do not expre55 any form of assurance conclusion theiEon.
Our responsibility is to read the oth¢r itjformation and, in dging so, consider whether ihe other
iiifoi'mation is matej'ially inconsistenl with the finatacial stateineTrts or our knowledge obtained
in th¢ audit or othei'wise appears to b¢ Inaterially inisstated. If we identify su¢h inaterial
in¢onsistencies oi. apparent materÈal misslateinents, we aye required to d¢¢erniine whether ihis
gives rise to a material misstatement in the financial stateTn¢nts themselvts. Ir, based on the
work we have pej'foi'ined, we conclude that tl)ere is a n)atoi'ial Inisstatement of this other
infomiation, we are required to report that fact.
Wt have nothing to repoit in this regard.

Matter5 om ivhich we ¥re required to report by exc¢plion
We have nothing to report in regpect of the following matters in relation to which the
Companies Act 2006 requlres u5 to repoit to you if, in oui. opinion..
the infonnation given in th¢ fmancial ststements is inconsistent in any mat¢rial respe¢l
with the trustees, report., oi.
sufficEent ¢lccovnting records have not been kept., oi"
the financial statements are not in agreemcnt with the accounting records and retums,.
OT
we have not received all the inforniation and explanations we require for our atsdit
Responsibilities oltrustees
As explained more fully in the statement of trusrees, responsibilities set out on page 5 the
trusiees (who ale also the directors Df the charitable ¢ompany for (he purposes of company law)
are responsible for the p￿P￿tratIon of the financial statements snd for being satisfied that they
give a tTU¢ and fair view, and fgr such inteiDo1 control as the trustees detemiine is necessary to
enable the preparation of financial statements thai free from ma(eri21 misslatemenr, whether
due to fraud or error.
In preparing the financial statements, the ti'uslees are responsible for assessing the charity's
ability to continue as a going concem, disclosin& a5 applicable, matters i'elated to going
concern and using the going concem basis of a¢¢ounting unless the ts'usiees either intend to
liquidate the chai'ity or to cease operations, or have no realistic alternative but to do so.
Audltor's respon5ibililies for the audit of the financlAI statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in
accordance with ihe Aci and relevant regulations made or having effect iher¢under.
Oui. objectives are to obtain ieasonable assurance about whether the financial ststetnEEits as a
whole are free from matorial misstatement, wliether due to fraud or error, and to Issue an
auditor's report that includes our opinion. Reasonable assurance is a high l¢vel of assurance, but
j5 Tlot a giiaTantee that an audit conducted in accordance with ISAS {UKI will always detect a
tnaterial misstatement when it exists. Misstatcmenis can arise fi'om fraud or ¢rroi' and are
cor15idered material if, individuftlly or in rhe aggiegate, they coiild reasonably be expected to
influence the economi¢ decisions of users taken on th¢ b&sis of these finan¢ial statements.
Irregularities, in¢ludllLg fraud, are it]stanceg of non-COE]ipliance with law5 and regulations. We
design proeedllres in lin¢ with otjr responsibilities, outlined above, to detect materiAI
misstatements respect of irregiilarities. in¢luding fraud. The extent to whi¢h oui. procedures
ar¢ capable of detectiftg irregularities, including fraud is detailed below.
A further description of oui. responsibilities for the audTrl of the financial Statements is located
011 the Financial Reporting Council's website at.. www.fr
.or
.ukl ditorsres
description forms part of our auditor's repurt
onsibilEties. Tl)is
Extent lo which the audit ivas consid¢red cap%b]e oldetetting irregularities, including
fraud
Irregularities, including fraud. are instances of non-compliance with laws and regulatsons. We
identified and assessed the risks of m8terial misstatement of the financial statements frotn
iiyegularities, whether due to fraud or error, and dis¢ussEd these betw¢¢n our audit ieam
members. We then designed and perfornied audit proc¢duiE3 responsive to thosc risks,
including obtaÉniiig audit evidence Sufficient and appropi'iat¢ to provide & basis for oui. opinion.
W¢ obtsined an understaTtding of the legal and regulatory frameworks Wlthin which the charity
OPErates, focusing on t]iose IAws and regulations that have & dir¢¢t effect on the deterininatioTh
of tnaterial amounts and disclosures in the financial statement5. The laws and I'egulations we
considered in this context weY¢ the Chariti¢s Act 2011 together with the Chai'ities SORP

(FRS1021. We assessed tl)e Irquired compliance with these laws and regula111￿5 as part of our
audit procedures on the r¢lai¢d financial statement itetns.
In addition, we considered provisions of other laws and regulations that do not have a direct
effect on the financial statements but complia]ic¢ with whicli might be fundan)ental to ihe
chayity's ability to operate or io av02d a matei'ial penBIty. We a150 considered the opportunities
and incentives that may exist wiihin the charity foi. fraud. Tl)e laws and I'egulations we
eonsidered this context for the UK operations were health and safety legislation, ewnployment
legislation and General Data Protection Regulation (GDPR).
Auditing siandards limit the required audit procedur¢s to identify non-compliance with these
laws and regulations to enquiry of tlie Trustees and other manag¢m¢nt and inspection of
I'egul8tory and leg&1 Correspondence, if any.
W¢ identified tlie greaiest risk of material impact on the financial statements from irregularities,
includin¥ fi'aud, to be within the tiiring ofrecognition of income, und the overtide o(¢onlrols
by manageinent. Our audit procedure$ to rcspond to these risks included enqllErie& of
manag¢tneni, and the Board of 'frustees about theii. own identifi¢alion dnd assessment of the
risks of snegularities, sample tt5ting on th¢ posting of joumals, tested ihe application of cut~off
and irvenue recogi)ition. particularly around voluntary income. reviewing accounting estimates
for biases. reviewing regulatory coi'r¢spondenee wEth the Charity Commissson, ai)d reading
minute5 of meetings of th05¢ charged with goveniancE.
Owl￿8 to the inlieiEni limitations of an audii, there is an unavoidable risk that we may not have
d¢te¢ted sninc n)aierial mi55tatements in the financial stateinent5, even though we have properly
planned and pcrfoimed our audit in acwrdance with auditing 5taE]dai'ds. For example, the
further removed non-compliance with law5 and regulations (irregularities) is from the events
and ti'ansacti0115 I'eflected the financial stateinents, the less likely the inher¢ntly limited
pi'ocedures iyquired by auditing standards would id¢21tify it. In addstion, as with any audit, there
remain¢d a higher risk of non-detection of irr¢gulariti¢s, as these may involve collusion.
forgeiy, intentional oinissions, misyepi'esentations. or the override of internal Controls. We are
not responsible for pr¢venting non-compliance and cannot be expected to detect non-
compliance with all laws and regulations.
Use of our report
This r¢port is made solely to the charity's twstees, as a body, in accordance wilh Part 4 of lh¢
Charilies (Accounts and Report5) Regulation5 2008. Our audit work has been undertaken 50 that
we might state to the charity's trustee5 those matters we al'e required to state to thein in an
auditoi s report and for no other purpose. To the fullest extent permitted by law, we do not
accept or assume responsibility to anyone other than the charity and th¢ charity's trnstee5 as
body> for our audit work, foi. this ￿port, or for the opinions we have fornied.
Crow¢ U.K. LLP
Statutory Auditor
Londoii
United Kingdom
Date.. 24 lune 2025
Cro¥vt V.K. LLP is elTgibl¢ for 3ppoinlin¢iii lls audiiorof lh¢ £linrity by y1￿1e of ils ¢l¢gibility for appoiniiMEnl
audiiorofa coinpony undcr beclion 1212 ofih¢ Companies Act 2006.

The London Philharmonic Trust
Charity Registration No. 1204080
Statement of Financial Activities
Year ended 31 August 2024
Alotes
2024
Unrèstrlcted
funds
2024
Restrlcted
funds
2024
Total
fvnds
2023
Total
funds
In¢ome from:
Donations and legacies
Charilable aclimties
In￿stment income
2,685,911
26.301
77.292
103,593
463
Total Income
26,301
77,292
103.593
2.686,374
Expondlturè
Expenditure on..
Raising fvnds
Charitable aelimlies
11,657
11,657
2,220
Total exp8ndlture
11,657
11.657
2.220
Nel gainslllosse81 on In￿stMentS
Net Incomellgxpendlturg)
14,644
77,292
91,936
2,684,154
Not movemgnt In funds
14,644
77,292
91.936
2,684,154
Re¢ohciliatlon of funds
Total funds brought forwaTd
709,791
2,085,911
2,795,702
111,548
Total funds carrlgd for•vard
724,43S
2.163,203
2,887,638
2.795,702
The above ￿S￿ltS are from continuing activiiies and th¢re ait no other gains and losses except a5 Stated above. Th¢
ac¢oinpanying notes on pages 12 to 16 form part of these financial statements

The London Philharmonic Trust
Charity Registration No. 1204080
Balance Sheet
As at 31 August 2024
Notes
2024
Unrèstricted
funds
2024
Restricted
funds
20Z4
Totsl
funds
2023
Total
funds
Current asggts
Debtors.. amwAtg falling due within one year
Cash ai bank
13,219
716,225
38,846
2.124,357
52.065
2,840,582
2,797.502
Totsl Current a659ts
729.444
2,163.203
2,892.647
2.797,502
Crgditurs
Amounts talling due within one year
Ngt Current assets
15.0091
15,0091
15.009)
15.0091
11,8001
11,800}
Total ￿ta￿ts
724,435
2,163,203
2,887,638
2,795,702
Totsl funds of tho charity
Unrestrlctgd fvnds
General Fund
Desi9naled fvnd111 Premises transition
Designated knd121 Capital proleet
107.388
518,527
98,520
107.388
518,527
98,520
114,791
500,000
95,000
Restricted fund$
Capil31 Project
Total Funds
2.163,203
2,163,203
2,163.203
2,887.638
2,085,911
2.795,702
724,435
The Iiotes on pages 12 to 16 form part of tl)es¢ accounts.
Appi'oved by the trusteef on 19, June 2025.
Signed on b
alf
tlie Board of Ti'usiees:
Laurence W
Chair
Jo

The London Philharmonic Trllst
Statement of Cash Flows
Year ending 31 August 2024
Note¢
2024
2023
Cash usèd in operating act4vltie5
Cash flows from Investlng a¢tivitles
Bank interest
Incroasaldecrgasa in cash and cash equivalent In th9 year
(8.447)
2,685,491
51.527
43,080
463
2.685,954
Cash and cash eqUi￿lentS at the beginniF)g of the year
Total cash and cash equivalents at the end of the year
2,7g7,502
2.840,582
111,548
2.797,502
Net M0￿ment in fvnds
Bank interest
Increase in credStors
91,936
1103,5921
3,209
18,4471
2,684,154
14631
1,800
2,685,491
2024
2023
Cash at bank and in hand
2,840.582
2,797.502
Ji

The London Philharmonic Trust
Notes to the accounts (forming part of the financial statements)
Period ending 31 August 2024
Accounting policies
a) Basls of Prtparation
The finan¢ial statemeT)ts ate prepbred in accordance with the FRS102 applicable accounting standard5 and the
Charities Act 2011.
The Char&ty has adopted the Statem¢nt of RecoTnmended PracÉice"Actountin8 and Reporfing by Charilie5"
appliLable to charities pi'eparing thcir accounts sn accordance with the Financial Reporting Stand8rd in th¢
UK and Republic of Ireland {FRS102) {effective l January 2019). There are no matcrial depart￿reS from
FRSIO2.
The London Philhannonic TI￿st ("the Trust") was established by trust deed on 15th S¢pt¢mber 1987 and is a
Irgistered chai'lty nuniber 1204080.
b) Prepardtioii of the accounts on A going concern basis.
At the year-end, the Trust has signifsLanl net 85sets. minimal liabilities. and operating costs. Grants are only
awarded if Sufficient funds are available to fi]nd the Mecessary pkyments. The Trust¢es have a reason&b5¢
¢xpe¢tation that (he Trust has adequate resourLYS to continue its activities for ihe fores¢eabl¢ futui'e and
¢Qll5ider that thei'e wei'e lio matei'ial uncertainties over the Trust's financial viability. Accordingly, the
Trustees Continue io adopt the going ¢onceit basis in prepai'ing the finan¢ial statements.
c) Aceounling ¢onveiilion
The financial stai¢nients ai'¢ prepayed unda ihe historical cost convention.
d) Income
Voluntary EncDIne including donations, gifts and legacies and grants that are of generdl nature are recogni5¢d
where thei'e is entitlement. receipt is more probablc than not aDd the amount can be ineasured with sufficient
veliability. Investmenl incoiii¢ És recogni5ed on & receivable basis.
t) Expenditure
Expenditure is recognised when 8 liability is Èncurred. Contractual ari'angements ai)d perforn)ance-related
giants al'e recognised a5 goods or servi¢¢s are supplied. Other grant paytnents are recognis¢d when a
onstructive obligation arises that iesuli ID the payment being unavoidable. liyecovci'able VAT is included
witliin expendituie.
rj Fund Recounting
General ￿ndS are unrestricted funds which al'e availabl¢ for use at the discretion of the Trustees in
furtherance of ihe obj¢ctives of the Charity and which have not b¢en designated for other purposes
Designated funds are unrestricted funds, which have been applied or i'eserved by th¢ Trustees for a specific
pu]p)se. The aim and use of Each desI￿ated fund is set out in the notes to the accounts.
R¢$tricted funds ale those which are to b¢ used in accordance with Specific restrictions imptssed hy doi)ors
or which have beet) Yaised by the Chai'ity for particular purpos¢s. Thc pu4x)se for whirh I￿￿'1cted funds are
h¢ld is aiialy5ed iii the notes to the accounts (see note 8).
g) Debtoys
Trad¢ and otlier debtors are r¢w8nised at the settlement amount due after any trade di￿O￿nts offered.
Prepayments ar¢ Yalued at the aTnount prepaid net of any trade discounts due.
12

The London Philharmonic Trust
Notes to the accounts (forming part of the financial statements)
Period ending 31 August 2024
h) Creditors
Credilors are re¢ogni5ed whcro the chai'ity has a pirsent obligation resulting fi'oin a past event that will
probably result in the transfci. of funds to a third party and the amount due to.%eitle the obligatioii can be
measured or estimated reliably. Creditoi's are norinally re¢ognised at their s¢ttlement amount after allowing
for any tr8de discounts due.
i) Cish
Cath at bank and in hand includes cash deposits in banks only.
j) Crltl¢HI accountivg judgement5 and key sourees of estim#tion unCert￿l￿tY
In th¢ application of the charity's accounting policie5. wliich are described in Note la-i above, the Trustees
are required to Inake judgemcnls, estimates and assumptions about ihe ¢arrying amounts of as5¢ts and
liabilities that are not Iradily apparent from othersources. The estimates and associated assumptions are based
on historical experience and other factors thal are con5id¢red relevallt. Actual result may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised IA the period in which the estiinate is revised if(h¢ revision affects only tliat period,
or in the period of the revision and future pei'iods if the r¢vision affects both ¢urrent and fuiui'c period5.
The Trustees do not consider there are any criii¢al judgeinents or sources of estimation uncertainty requiring
disclosure beyond the accounting policies listed above.
ID¢ome from donations and legacies
Unrestr5cted
funds
2024
Re5trlcted
funds
2024
Total
funds
2024
Total
funds
2023
Donations
Total income from donation¥
2,685.911
2,6￿.911
Jnvestmeiit Income
Unrestrlcted
funds
2024
Re8trlctod
funds
2024
Total
funds
2024
Total
funds
2023
Bank interest
Total in*slmenl incrAne
26,301
26.301
77,292
77,292
103.593
103,593
463
463
Expendilure on charitable activilles
Total
fund$
2024
Totsl
funds
2023
Support
Go￿rananCe Costs
Total eXp￿dIture on ch8rilable aclimties
422
11,235
11,657
420
1,800
2.220
13

The London Philharmonic Trust
Notes to the accounts (forming part of the financial statements)
Period ending 31 August 2024
Net ineomel {¢xpendhture) is $tated after charying
Total
funds
2024
Totsl
funds
2023
Auditorfs ￿Muneration - audit fees
1,920
1.920
1,800
1.800
AuditOKS remuneration includ¢s irrecovei'able VAT of £320.
The tn15tees did not r¢¢eive any IEmuneration foi. their seivi¢es to the Trust nor were they reimbuTsed for any
expenses.
Credltor5- Amounts falling due witliin one y¢4r
Total
fun(Is
2024
Total
funds
2023
Trade CTedilors
Accruals
3,089
1,920
5,009
1,800
1,800
Debtors: AMo￿nIS falling due witliin one year
Total
fund$
2024
Total
funds
2023
Accruals
52,065
52,065
Related porty ti*nsaetions
As explain¢d in the Tru5tees' report. London PhiSh3mioni¢ Orchests? Lid (registered charity number 238045) is a
connected ¢hai"ity.
14

The London Philharmonic Trust
Notes to the accounts (forming part of the financial statements)
PerAod ending 31 August 2024
Reserves
8alanc8 at 1st
Septemb4r 2023
Income Expendlturo
Transfer of Balance at 31st
amount
Augu$t 2023
IkJreslri¢t8dFunds
Genaral reserve
114.791
4,254
4,254
111,6571
111,6571
107.388
107.388
114.791
tbsvJnaled Funds
tksb3nated fund111 P￿t￿se5 transthon
Cbsignal6d fund121 cap1￿1 proJe¢l
500.000
18,527
518,527
95,000
595.000
3,S20
22,047
98,520
617.047
Reslrlctfjd FuJ7ds
CHpilaf Fyopcl
2.085,911
2.085.911
77,292
77,292
2,1e3,203
2,163.203
Total Funds
2,795,702
103.593
111,6571
2,887.638
CeiierAI Fund:
Tl)is is the Trust's pritnary unrestricted fund ill which all fuiids. except those with sp¢cific re5ti'i¢tion, are held. The
Truslees may choose to designat¢ amounts from these fijnds fL)r specific purposes in furtheratjce of the obj￿tiveS
of the Trust.
Designated funds:
Premises transition to $upport LPO in buildiiig IEsiIiEnC¢ for future years with capital project is anticipated to
impact London Fhilhamkonic orchestras capacity and eligibility for revenue grants.
CapitHI proJeet- to ￿rther the develop1￿entIobtalnrn¢nt of premises (reh¢ai'5al, perfoi'manc¢, admtni511'ation and
community SPaLe) for LPO.
Restricted funds
Capital project. to further the acquisition at]d development of preEni8es by LPO.
15

The London Philharmonic Trust
Notes to the aeeounts (forming part of the financial statements)
Period ending 31 August 2024
10. Prior Year comparative Sl&temei)l of Finai)¢ial Activity
Notes
2023
2023
2023
2023
Unrestrlcted
funds
Restricted
funds
Total
funds
Total
funds
Incomo from:
Donations and legacies
Charitable actlmlies
In*slment incom8
600.000
2,￿,911
2,685,911
463
463
Total Ineome
600,463
2,085,911
2.686.374
Expenditure
Expenditure on..
Raising funds
Charitable acliifities
2,220
2,220
420
Total expendlture
2,220
2.220
420
Nel gainslllossesl on inv2stments
Net Incomel{expendlturel
598.243
2,085,911
2,684,154
{420)
Not movemont in fund$
S98.243
2,085,911
2.684,154
14201
R•conciliation of funds
Total fvjnds brought lorward
111,548
111,548
111,968
Total funds carried fonNard
Y09,791
2,085,911
2,795,702
111,548
16