2023-07-31-accounts

Contents				Page
Officers and	Professional		Advisers
Directors' Report
Independent	Auditor's	Report		14
Consolidated	Statement		of Financial Activities	17
Consolidated	Balance Sheet			1B
Consolidated	Statement		of Cash Flows	19
Notes to the	Accounts			20

				2023	2023	2023	2023	2022
				unrestricted	Designated	Restricted	Total	Total
				funds	funds	funds	funds	funds
			Note	6000	6000	f000	f000	6000
	Income from:
	Donations, grants and	legacies		3,335	30	2,870	6,235	7,879
	Charitable activities			11,705		438	12,143	10,341
	Other trading activities		9	487			487	450
	Investment income		10	37			37	1
	Other		11	2,598			2,616	2,442
	Total income		5	18,162	30	3,326	21,518	21,113
	Expenditure on:
	Raising funds			1,452			1,452	1,147
	Chantable activities			16,693	147	2,838	19,678	17,191
	Total expenditure		12	1,8,145	147	2,838	21,130	1,8,338
:	Net expenditure		15	17	(117)	488	388	2,775
	Transfers between funds
	Other recognised losses
	Currency exchange gains/(losses)			24			24	(14l
	Net movement In funds			41	(117)	488	412	2,761.
	Reconciliation offunds
	Total funds brought	forward		4,066	3,782	467	8,315	5,554
	Total funds carried forward			4,107	3,665	955	8,727	8,315

					Group			Charity
				2023		2022	2023		2022
			Note	EOOD		EOOD	EOOD		EOOD
Fixed assets
Tangible assets			17	2,190		2,424	2,064		2,260
Investment assets			18
Totalflxed assets				2,190		2,424	2,064		2,260
Current assets
Stock			19	603		520
Debtors: amounts	falling due within	one year	20	5,038		4,758	4,543		4,415
Cash at bank				4,261		3,765	3,717		3,476
Total current assets				9,902		9,043	8,260		7,891
Current liabilities
Creditors: amounts	falling due within	one year	21	(3,365)		)3,152)	(1,615)		(1,868l
Net current assets				6,537		5,891	6,645		6,023
Total net assets				8,727		8,315	8,709		8,283
Total funds			23
Unrestricted funds				4,107		4,066	4,551		4,281
Designated funds				3,665		3,782	3,665		3,782
Restricted funds				955		467	493		220
Funds carried forward				8,727		8,315	8,709		8,283

							Group		Charity
							2023	2022	2023	2022
					Note		f000	6000	6000	f000
Cash	from operating activities						568	1,889	275	1,732
Cash	flows from Investing activities
	Bankinterest						37	1	37	1
	Purchase offixed assets						(110)	(801)	(72)	(755)
Increase /(decrease) In cash and cash equivalents					In the year		495	1,089	240	978
	Cash and cash equivalents	at the	beginning	ofthe year		3,765		2,676	3,476	2,498
Total cash and cash equivalents		atthe end of		the	year	4,260		3,765	3,716	3,476
Reconciliation to cash at bank		and ln	hand:
	Cash at bank and in hand					2,129		3,420	1,585	3,131
	Short-term deposits					2,132 4,261		345 3,765	2,132 3,717	345 3,476
A	Reconciliation ofnet movement		In funds	to net cash flow from operating			activities
	Net movement in funds						412	2,761	426	2,691
	Net depreciation charge						344	232	268	157
	Bank interest						(37)	(1)	l37)	(1)
	Increase in stock						(83)	(2)
	Increase in debtors						(280)	(473I	(127)	(332)
	Increase/(Decrease) in creditors Net cash from operating activities						214	(628) 1,889	(255) 275	(783) 1,732

Comparative Statem	ent o	f Financial Activitie	s
			2022	2022	2022	2022
			Unrestricted	Designated	Restricted	Total
			funds	funds	funds	funds
			EOOD	EOOD	EOOD	EOOD
Income and endowments		from:
Donations and legacies Charitable activities			5,225 10,197	1,091	1,563 144	7,879 10341
Other trading activities			450			450
Investment income			1			1
Other			1,252	1,174	16	2,442
Total Income			17,125	2,265	1,723	21I113
Expenditure on: Raising funds Charitable activities			1,147 15,673	30	1,488	1,147 17,191
Total expenditure			16,820	30	1,488	18,338
Net Income			305	2,235	235	2,775
Transfers between	funds		(13)		13
Currency exchange	(losses)		(14)			(14)
Net movement In funds			278	2,235	248	2,761
Reconciliation offunds
Total funds brought	forward		3,788	1,547	219	5,554
Total funds carried	forward		4,066	3,782	467	8,315

below.
					LSO Productions	Ltd	LSO Uve Ltd
					2023	2022	2023	2022
					f000	6000	f000	EQQQ
Turnover					12,748	10,989	1,290	1,135
Cost ofsales					(14,139)	(12,098)	(890)	(1,021)
Gross profit/(loss)					(1,391)	(1,109)	400	114
Less; Administration			Expenses		(1,167)	(1,171)	(145)	(113)
Operating		profit/(loss)		for the year	(2,558)	(2,280)	255	1
Corporation		Tax relief			2,550	2,346
Less: Donation to parent charity							(255)
Retained	Profit/ (Loss)			forthe year	(8)	66
Assets					3,001	2,920	1,317	1,229
Liabilities					(2,995)	(2,905)	(1,305)	(1,217)
Net Funds					6	15	12	12

up Inc	ome analysis
		by Source of Funds		by Location of Activity
		2023	2022	2023	2022
		f000	EQQQ	6000	6000
United	Kingdom	9,800	14,608	15,315	19,337
Europe		10,758	4,524	3,812	889
Rest of	world	480	290	2,330
Rest of	world
USA		480	1,691	61	887
		21,518	21,113	21,518	21,113

As at	31July 2023
				2023	2022
				f000	6000
6	Income from donations, grants	and legacies
	Arts Council England core grant			2,157	2,242
	Arts Council England Cultural Recovery		Fund grants		623
	City of London Corporation core funding			1,975	1,975
	City of London Corporation other funding
	St Luke Centre Management Company		grant	30	1,091
	LSO Endowment Trust grants			440	263
	Grants for ISO Discovery			273	499
	Sponsors hips and donations Total income from grants and	donations		1,360 6,235	1,186 7,879
7	Income from charitable activities
	LSO Concerts at the Barbican			1,761	1,252
	Engagements			7,894	6,318
	LSO Live			937	874
	LSO St Luke's —Artistic			326	257
	LSO Discovery			579	686
	Sponsorshlps Total Income from charitable	activities		646 12,143	954 10,341
8	Income from engagements
	Overseas Residencies, Tours and Partnerships			6,062	4,596
	UK Residencies, Concerts and	Partnerships		498	373
	Third-Party Recordings Total Income from engagements			1,334 7,893	1,348 6,318
9	Income from other trading activities
	LSO St Luke's —Commercial			487	450
	Total Income from trading activities			487	450
10	Income from Investments
	Bank interest received			37
	Total Investment Income			37
11	Other Income
	Other Income			2,616	2,442
	Total other income			2,616	2,442

		Allocated
	Staff and	Support
	Direct Costs	Costs	Total
	2023	2023	2023
	EOOD	fXO	E000
Costs of raising funds: Voluntary income St Luke's -Commercial	556 345 901	486 65 551	1,042 410 1,452
Costs of charitable activities:
Barbican concerts	6,844	512	7,356
Engagements LSO Live	7,687 1,019	419 202	8,106 1,221
LSO St Luke's —Artistic	174	259	433
LSO Discovery	2,076 17,800	486 1,878	2,562 19,678
Total group expenditure	18,701	2,429	21,130
	2022	2022	2022
	EOCO	f000	EOOD
Costs ofraising funds: Voluntary income St Luke's -Commercial	565 204	326 52	891 256
	769	378	1,147
Costs ofcharitable activities: Barbican concerts	6,398	413	6,811
Engagements LSO Live	6,389 1,117	337 130	6,726 1,247
LSO St Luke's -Artistic LSO Discovery	168 1,705 15,777	208 326 1,414	376 2,031 17,191
Total group expenditure	16,546	1,792	18,338

3	Analysis ofsupport	costs	costs
									Raising	Charitable
									funds	activities	Total
									2023	2023	2023
									6000	6000	5000
	Staff costs								212	725	937
	Other overheads								339	1,153	1,492
									551	1,878	2,429
									Raising	Chantable
									funds	activities	Total
									2022	2022	2022
									f000	f000	6000
	Staff costs								106	397	503
	Other overheads								272	1,017	1,289
									378	1,414	1,792
										2023	2022
										6000	AMOCO
14	Governance costs
	Included within support costs are				the foliowlng		governance	costs:
	Audit fees									33	28
	~irectors' fees									30	29
	Other governance		costs							5	5
	Total Governance	costs								68	61
15	Net (expenditure)/Income			Isstated after charging:						2023 f000	2022 5000
	Fees payable to the Company's auditors for -the Company's annual accounts -the Company's subsidiaries' accounts Total Audit Fees						the audit of:			15 18 33	13 15 28
	Movement in stock									(83)	(2)
	Depreciation Realised foreign		currency exchange			loss				344 (24j	232 14
	Operating lease		rentals	- Land	and	buildings				134	82

			Full Time Equivalent	No.	Average Fieadcount	No.
			2023	2022	2023	2022
Concerts Management Marketing Development			16 7 12	17 6 10	31 7 12	18 6 11
Management,	Finance and IT		14	12	16	15
		Total Charity	49	45	66	50
LSD Discovery			12	10	12
LSD St Luke' s			8	8	9
LSD Live			5	4	5
		Total Group	74	67	92	74

					Group		Charity
					2023	2022	2023	2022
					EOOD	6000	6000	EOOD
All employees Salaries		aggregate	remuneration		3,129	2,709	2,367	1,947
National		Insurance			335	233	300	221
Pension	Costs				233	219	190	188
Other staff costs					51	43	51	43
					3,748	3,204	2,908	2,399
Key management aggregate Salaries and pension				remuneration	384	359	384	359
National		Insurance			45	40	45	40
					429	399	429	399

2023	2022
No.	No.

Fees in relation to the office of Direc	tor were paid to the following playing membe	rs:
		2023	2022
		E	E
David Alberman	Chair	11,899	16,000
Sarah Quinn	Chair	5,129
Harriet Rayfleld David Jackson	Vice - Chair Vice —Chair	5949 5,428	8,000 5,000
Maxine Kwok	Vice - Chair	1,710

17	Tangible fixe assets	Freehold gr
		leasehold			Fixtures,
		land and	Motor	instrument	fittings and	Plant and
		buildings	vehicles	s	equipment	Machinery	1otai
		f000	f000	6000	f000	f000	6000
	Group:
	Cost
	At 1August 2022 Additions	1,209	304 34	1,534 33	1,672 43	120	4,839 110
	Disposals At 31July 2023	1,209	(37) 301	(8) 1,559	(208) 1,507	120	l253) 4,696
	Depreciation At 1August 2022 Charge for the year	341 147	186 34	502 19	1,356 114	30 30	2,415 344
	Disposals At 31July 2023	488	(38) 182	(8) 513	(208) 1,262	60	(254) 2,505
	Net book values At 31July 2023	721	119	1,046	245	60	2,191
	At 1August 2022	868	118	1,032	316	90	2,424
	Charity:
	Cost
	At 1August 2022 Additions	1,156	304 34	1471 33	654 5	120	3,705 72
	Disposals At 31July 2023	1,156	l38) 300	(8) 1,496	(119) 540	120	(165) 3,612
	Depreciation At 1August 2022 Charge forthe year Disposals At 31July 2023	288 146 434	186 34 (38) 182	450 13 (8) 455	491 45 (119) 417	30 30 60	1,445 268 (165) 1,548
	Net book values At31July 2023	722	118	1,041	123	60	2,064
	At 1August 2022	868	118	1,021	163	90	2,260

As a	t31July 2023
17	Tangible fixed assets (continued)	Freehold			Fixtures,
		landand	Motor		fittings and	Fiant and
		buildings	vehkles	Instruments	equipment	Machinery	Total
		ECOO	ECOO		6000	EOOD	6000
	el'oUP:
	Cost
	At 1August 2021 Additions	624 585		1,511 27	1,609 69	120	4,048 801
	Disposals At 31July 2022	1,209		(4) 1,534	(6) 1,672	120	OO) 4,839
	Depreciation At1August 2021 Charge for the year Di epos a la At 31July 2022	312 29 341	26 186	490 16 (4) 502	1,231 131 (6) 1,356	30	2,193 232 (10) 2,415
	Net book values At 31July 2022		118	1,032	316	90	2,424
	At 1August 2021	312	144	1,021	378		1,855
	Charity;
	Cost At 1August 2021 Additions	571 585		1,447 28	632 22	120	2,954 755
	D is pe sais At 31July 2D22	1,156		(4) 1,471	654	120	(4l 3,705
	Depreciation At 1August 2021 Charge for the year	259 29	160 26	444 10	429 62	30	1,292 157
	Dlsposals At 31July 2022		186	l41 450	491	30	(4) 1,445
	Net bookvalues At 31July 2022	868	118	1,021	163	90	2,260
	At 1August 2021		144	1,003	203		1,662

						Group
					2023		2022
19	Stocks of CDs and	related development		costs	EOOD		EOOD
	Stocks of own-label	recorded	CDs and	DVDs	90		115
	Deferred development costs		ofown-label CDs and DVDs		513		405

			Group		Charity
			2023	2022	2023	2022
			EOOD	EOOD	EOOD	6000
20	Debtors: amounts falling due within one year
	Trade debtors		1,571	1,523	1,166	1,076
	Other debtors		17	6	3	1
	Prepayments Amounts owed by Accrued Income	Group companies	291 3,159	487 2,700	266 2,478 630	480 2,479 315
	Other taxes and social security			42		64
			5,038	4,758	4,543	4,415
			Group		Charity
			2023	2022	2023	2022
			EOOD	EOOD	EOOD	EOOD
21	Creditors: amounts	falling due within one year
	Trade creditors		822	441	420	244
	Other taxes and social security		130	79	149	63
	Owed to players		343	333	37	44
	Other creditors		519	531	72	117
	Amounts owed to	Group companies				261
	Accruals		665	827	525	735
	Deferred income		886	941	412	404
			3,365	3,152	1,615	1,868

					Group		Charity
					2023	2022	2023	2022
22	Deferred Income
	Brought forward				941	1,316	404	1,030
	Released in the year				l941)	(1,316)	(404)	(1,030)
	Deferred in the year				886	941	412	404
	Carried Forward				886	941	412	404
23	Statement offunds
								Balance
			1August			Gains and		31July
			2022	Income	Expenditure	losses	Transfers	2023
			EOOD	EOOD	EOOD	6000	6000	EOOD
	Group:
	Unrestricted funds:
	Share Capital							1
	General fund		4,065	18,162	(18,145)	24		4,106
	Designated fund		3,782	30	(147)			3,665
	Total unrestricted	funds	7,848	18,192	(18,292)	24		7,772
	Restricted funds		467	3,326	(2,838)			955
	Total group funds		8,315	21,518	(21,130)	24		8,727
	Charity:
	Unrestricted funds.
	Share Capital		1
	General fund		4,280	24,888	(24,651)			4,550
	Designated fund		3,782	30	(147)			3,665
	Total unrestricted	funds	8,063	24,918	(24,798)	33		8,216
	Restricted funds		220	2,418	(2,145)			493
	Total charity funds		8,283	27,336	(26,943)	33		8,709

Statement offunds	(continue	d)
							Balance
		1August			Gains and		31July
		2021	Income	Expenditure	losses	Transfers	2022
		EOOD	EOOD	EOOD	EOOD	EOOD	EOOD
Gi'oup:
Unrestricted funds:
Share Capital		1					1
General fund		3,787	17,125	(16,820)	(14)	(13)	4,065
Designated fund		1,547	2,265	(30)			3,782
Total unrestricted	funds	5,335	19,390	(16,850)	(14)	(13)	7,848
Restricted funds		219	1,723	(1,488)		13	467
Total group funds		5,554	21,113	(18,338)	(14)		8,315
Charity:
Unrestncted funds:
Share Capital		1					1
General fund		3,858	22,184	(21,752)	(10)		4,280
Designated fund		1,547	2,265	(30)			3,782
Total unrestricted	funds	5,406	24,449	(21,782)	(10)		8,063
Restricted funds		186	1,009	(975)			220
Total charity funds		5,592	25,458	(22,757)	(10)		8,283

Designated Funds	are tho	se unresticted	funds which have been	set aside by	the Directors for	specific purposes.
			Balance				Balance
			1August				31July
			2022	Income	Expenditure	Transfers	2023
			EOOD	EOOD	EOOD	EOOD	EOCO
Strategic Fund			2,721				2,721
LSO St Luke's Designated		Fund	1,061		(147)		944
Tota(Designated	funds		3,782	30	(147)		3,665

					Balance				Balance
					1August				31July
					2022	Income	Expenditure	Transfers	2023
					EOOD	EOOD	6000	6000	6000
Antonio Brenzi		Viola							200
ACE Grant						2,005	(2,005)
Always Playing		Appeal			20	140	(140)		20
LSQ Discovery						273			273
Government	Grants
Total charity	restricted		funds		220	2,418	(2,145)		493
LSQ Discovery					247	438	(241)
ACE Grant						152	(152)
Moving Music		Fund				300	(300)
Other sponsorship						18			18
Total group restricted			funds		467	3,326	(2,838)		955
					Balance				Balance
					1AUgUSt				31July
					2021	Income	Expenditure	Transfers	2022
					6000	EOOD	6000	EOOD	EOOD
Antonio Brenzi		Viola							200
ACE Grant						802	(802)
Always Playing		Appeal			(17)	263	(242)	16	20
CIty of London		—Culture		Mile Grant	3			(3)
Government	Grants					15	(15)
Total charity	restricted			funds	186	1,080	(1,059)	13	220
LSQ Discovery					33	643	(429)		247
Total group	restricted			funds	219	1,723	(1,488)	13	467

Analysis	of net	assets between funds	Unrestricted	Unrestricted
			General	Designated	Restricted	Total
			Funds	Funds	Funds	Funds
			FOOD	FOOD	EOOD	EOOD
Group
Tangible	fixed	assets	1,462	528	200	2,190
Current	assets		6,010	3,137	755	9,902
Current	and long term liabihties		(3,365)			(3,365)
At 31July 2023			4,107	3,665	955	8,727
Charity
Tangible	fixed	assets	1,336	528	200	2,064
Current	assets		4,830	3,137	293	8,260
Current	liabilities		(1,615)			(1,615)
At 31July 2023			4,551	3,665	493	8,709
			Unrestricted	Unrestncted
			General	Designated	Restricted	Total
			Funds	Funds	Furl cia	Funds
			FOOD		EOOD	EOOD
Group
Tangible	fixed	assets	1,549	675	200	2,424
Current	assets		5,608	3,168	267	9,043
less: Current and long term liabilities			(3,091)	(61)		(3,152)
As at 31July 2022			4,066	3,782	467	8,315
Charity
Tangible	fixed	assets	1,385	675	200	2,260
Current	assets		4,703	3,168	20	7,891
less; Current liabilities			(1,S07)	(61)		(1,868)
As at31	July 2022		4,281	3,782	220	8,283

operating	leases was as follows:
		2023	2022
Land and	buildings	EOOD	f000
—within one year		138	82
—between	two and five years	593
—after more than five years		796
		1,527

The chan each.	ty is a co	mpany limited by shares. The authorised sh	are capital is 1,600 ordinary shares with	a value off1
			Shares	Shares
Allotted,	called-up	and fully paid	No.	Value f
1,000shares ofEl		each	1,000	1,000

2023	2022
EOOD	f000
440	263

2022	2021
f000	f000

Amounts	owed	to	the	Group	by	the	LSO	Endowment	Trust
Amounts	owed	by	the	Group	to	the	LSO	Endowment	Trust