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|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|
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|||||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|
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|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|
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|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||
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##
|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|
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