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2023-09-30-accounts

Sinfonietta Productions Limited (Limited by Guarantee)

Report and Accounts

Year to 30 September 2023

Company registration No: 00926551 Charity No: 255095

Sinfonietta Productions Limited (a company limited by guarantee)

Contents
Page
Reference and Administrative Details 3
Report of the Chair of Trustees 4
Report of the Council of Trustees
Strategic Report 6
Statement of Accounting and Reporting Responsibilities 20
Independent Auditors’ Report 21
Statement of Financial Activities 24
Balance Sheet 25
Statement of Cashflows 26
Notes to the Accounts 27 – 35

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Sinfonietta Productions Limited (a company limited by guarantee)

Reference and Administrative Details

Trustees Fiona Thompson, Chair Sudeep Basu Andrew Burke Timothy Gill Annabel Graham Paul Kathryn Knight Charlotte Morgan Jonathan Morton (retired on 27 April 2023) Stephen Reid (co-opted 1 November 2023) Paul Silverthorne Fay Sweet (co-opted 1 November 2023) James Thomas Ben Weston Secretary Frances Bryant Chief Executive & Andrew Burke Artistic Director Key Management Andrew Burke, Francis Bryant, Elizabeth Davies, Natalie Galer (née Marchant), Personnel Rhuti Carr (maternity leave) and Lily Caunt. Registered office and Kings Place administrative address 90 York Way London N1 9AG Auditors MGR Weston Kay LLP Chartered Accountants and Statutory Auditors 55 Loudoun Road St John’s Wood London NW8 0DL Bankers Lloyds TSB plc CCLA Investment Management Ltd London Bridge Branch COIF Charity Funds 69 Borough High Street Senator House London SE1 1NQ 85 Queen Victoria Street London EC4V 4ET Registered numbers Company no 00926551 Charity no 255095

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Sinfonietta Productions Limited (a company limited by guarantee)

Report of the Chair of Trustees For the year ended 30 September 2023

Our Report on the 12 months to 30 September 2023 tells a story in two parts: of a busy and exciting period of artistic activity, touring and outreach work delivered successfully; and yet also of an organisation which faced the shock of a significant funding reduction. Arts Council England announced the outcome of the funding round for the period April 2023 to March 2026 in November 2022, which resulted in a funding cut of 41% (from £508,757 to £300,000) for the London Sinfonietta. Due to the scale of the grant reduction the organisation immediately faced the challenge of adjusting the plans in its 2022-23 budgets to cope with the impact of the reduced grant starting in April 2023, halfway through the financial period.

Initial steps taken identified budget savings on overheads and the organisation applied successfully for transitional support through Arts Council England’s Transform One funding programme. This grant, for the period April to July 2023, supported activity and associated production staff, enabling the organisation to deliver the rest of its artistic season without cancelling activity. Subsequently we were also awarded a more substantial, three-year grant under Arts Council England’s Transform Two funding programme which aims to support organisations as they evolve a new business model, identify new income streams and secure their long-term sustainability.

This is the path that the Charity is now pursuing, and we will approach this with vigour, creativity and determination, in order to find a vibrant, resilient new future for the organisation. We will take this as a positive opportunity to rethink, review and refresh our thinking for the next phase of our existence. The Trustees and management continue to believe that the London Sinfonietta makes an indispensable contribution to the creative reputation of the country and delivers ACE’s Outcomes and Investment Principles through its activities.

To focus on the artistic achievements during the period, keystone events in our season explored the jazzinfused sound world of Marius Neset, premiered new commissions by Juste Janulyte and Jack Sheen, celebrated the life and creativity of composer Sir Harrison Birtwistle, introduced a Shamisen Concerto by Dai Fujikura to UK audiences and opened up the cutting-edge world of electronic music and how AI can be used in the creative process.

We continued to work with long-standing partner venues and promoters including Southbank Centre (for our main concert season) and Kings Place (for smaller scale work) and performed again at Huddersfield Contemporary Music Festival. We also started to rebuild international partnerships and were pleased to return to overseas touring following a hiatus caused by the pandemic. A performance at Time of Music Festival (Finland) in July 2023 brought to the stage movements from Henze’s Voices alongside newly commissioned protest songs from an eclectic group of international composers. This overseas touring activity continues in Autumn 2023 with trips to China and Norway.

Highlights of the year for our schools and community programme were the annual Sound Out concert at Royal Festival Hall (March 2023) and our residency at St Ignatius College in Enfield (May 2023) where we rehearsed, gave workshops and invited in the community to experience live music-making.

Our talent development work continued with the fourteenth year of the London Sinfonietta Academy and the continuation of the Writing the Future programme for early year music creators. The fourth edition of the scheme will reach completion in November 2023.

As we evolve our business model and develop our long-term resilience, we value even more highly the loyalty of our many other funders, supporters and partners. So many have voiced their support publicly or privately and want to come with us as we embark upon this new journey. Our ongoing success is only possible due to the generosity of numerous Trusts and Foundations including long-term funders The Ernst von Siemens Music Foundation, John Ellerman Foundation, Jerwood Arts, The Leverhulme Foundation and a host of others. And we continue to be very grateful to the many individual donors who support our work.

In terms of the Charity’s financial position, our accounts show a surplus of £20,154 on General Funds and Net Income on Total Funds of £64,558. We were able to allocate our original budgeted amount of £55,000

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of Designated Funds to support activity during the year and to transfer £12,707 into Designated Funds for future work at the year-end due to Orchestra Tax Relief continuing to be claimable at the higher rate. The result was also helped by a combination of finding savings against budget in-year, the Transform One grant and Restricted Funds carried forward at the year-end. Following the confirmation of a new target for reserves (see Reserves Policy), the Trustees decided to continue building the organisation’s resilience by adding £5,000 to the Contingency Reserve at the year-end. This leaves the organisation with £129,078 Designated Funds and £125,000 in its Contingency Reserve.

We firmly believe that contemporary music has the power to connect and engage audiences with the stories of our time, through the creative vision of the composers and artists we work with. We will continue to offer audiences the opportunity to experience the thrill of musical creativity in all its many forms and we are grateful for the loyalty and curiosity of all those who come with us on this journey.

As ever, we are grateful to the talented and loyal players, artists and music creators who have helped to bring into existence the inspiring new music projects which the London Sinfonietta has brought to audiences and participants during the period.

Fiona Thompson Chair of the Trustees

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Sinfonietta Productions Limited (a company limited by guarantee)

Report of the Council of Trustees For the year ended 30 September 2023

The Trustees are pleased to present their annual report together with the financial statements of the Charity for the year ended 30 September 2023, which are also prepared to meet the requirements of a Directors’ report and accounts for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out on pages 27-28 of the attached accounts and comply with the charitable company’s Memorandum and Articles of Association, the Companies Act 2006, the Charities Act 2011, other applicable laws, the requirements of the Statement of Recommended Practice for Charities effective for all periods commencing on 1 January 2019 (October 2019 SORP) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

STRATEGIC REPORT

Purposes

The purposes of the Charitable Company, as stated in its governing documents, are to advance and encourage public education in the performing arts, particularly music, and from its earliest days in 1968 the London Sinfonietta set out to commission and premiere new works from the composers and creators of the time, performing them with the most talented musicians and taking the art-form to national and international audiences as well as into schools and community settings.

Vision

The London Sinfonietta’s Vision is for new music to be an indispensable and valued part of contemporary society, education and community life, causing positive change in these areas. Experiencing world-class new music produces powerful, positive collective experiences for individuals, audiences and communities. The messages that such art communicates can provoke empathy for others, a reflection on contemporary society and promote equality of opportunity. Musical creativity and performance are fundamentally important for young people and will significantly improve their education and chances in life. Public participation in the creation and performance of new music can provide a catalyst for personal growth and positive community change. We work towards realising, and advocating for, these ideals.

Mission

We produce world-class new music projects & performances that engage with today’s society, involving and inspiring the lives of individuals, audiences, communities and artists.

Activity Areas

The Charity identifies six main areas of activity, through which it delivers its Mission, and its budgets and accounts are structured to reflect these six activity areas:

Strategy

In February 2022, the organisation developed a 10-year strategy which included four main Aims (see below) and a one-year Business Plan was subsequently written for the period 2022-23 based on this strategy.

Subsequently, in November 2022, we received the unexpected news that our Arts Council England grant (regular funding as a National Portfolio Organsiation) was to reduce by 41% to £300,000 per annum from

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April 2023. The organisation acted quickly to adapt its budget for the rest of the 2022-23 period, taking immediate steps to find in-year savings on overhead costs. A successful application to Arts Council England’s Transform One funding programme provided crucial support during a transitional period from April to July 2023, allowing the organisation to go ahead with artistic activity as planned without making drastic, last-minute changes to the programme.

The organisation subsequently applied to Arts Council England’s Transform Two funding programme which aims to support organisations from August 2023 up to March 2026 as they evolve their business model and develop new income streams to become more self-reliant in the longer-term. This is a significant project for the Charity in the coming years and has introduced several new work streams as we explore different ways in which we could develop a new business model. The Transform Two grant also provides a tapering level of support which can be put towards ongoing activity and overhead costs as the business development project is ongoing.

The overall 10-year Strategy is unchanged and retains the same four Aims, but the focus and emphasis are undoubtedly impacted by the Transform project (much of which sits naturally under Aim 1 and Aim 4). Our response to the Strategy will continue to evolve yearly as we move through the Transform project.

The Aims in the 10-Year strategy are:

  1. To make a 21st century new music programme relevant & accessible to a wider audience

  2. To create social impact through our activities

  3. To evolve an inclusive & equitable organization & ensemble of artists

  4. To evolve a resilient, sustainable organization

The objectives for this first year of the 10-year journey are:

  1. To make a 21st century new music programme relevant & accessible to a wider audience

  2. Revive our London programme post-pandemic and evolve our digital programme of work

  3. Place more live performances in our London community and out-of-London town settings

  4. To create social impact through our activities

  5. Co-curate projects with people in school & community settings in and out of London

  6. Commission, perform and digitally distribute work which focusses on issues affecting society

  7. To evolve an inclusive & equitable organisation & ensemble of artists

  8. Expand the creative team of musicians and artists, including via our artist development schemes

  9. • Complete and enact the programmes and policies that will promote inclusivity across the organisation

  10. To evolve a resilient, sustainable organization

  11. Develop a new programme to broaden our income streams, including corporate events

  12. Establish the best position we can to fulfil our Environmental Responsibility

The London Sinfonietta’s progress during the 2022-23 financial year against the Strategic Aims and Objectives listed above is summarised later in this Report.

Public Benefit

The Trustees have had regard to the Charity Commission’s general guidance on public benefit when reviewing the aims, objectives and activities of the Charity.

As described in its Mission Statement and Strategic Aims and Objectives, the London Sinfonietta aims to engage and inspire a wide and diverse audience with a varied and inspiring programme of contemporary classical music, placing it at the heart of today’s culture. To make its programme of live events accessible to all, the organisation balances the need to earn box office income with audience development initiatives, including discounted ticket offers and promotions. Those that are unable to attend these live performances can listen to or watch selected concerts or performances on YouTube or on BBC Radio 3. The organisation continues to offer a range of digital content available free of charge through the ‘LS Digital Channel’ on its

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website including podcasts, films and audio recordings, and a large catalogue of London Sinfonietta’s recordings on CDs or digital downloads are available to purchase.

The organisation offers unique opportunities to emerging composers, conductors and players, supporting them as they develop the skills necessary for their professional careers. In addition, the Participation & Learning programme offers a wide range of opportunities to individuals of all ages and from diverse backgrounds to engage with contemporary classical music through performance and music creation. This includes projects and concerts designed especially for school children, interactive music events for families and community projects (during the period, in Enfield). We also provide opportunities for the public to participate in the creative process and live performance of new music. Most of the creative projects involve no payments by the participants.

ACHIEVEMENTS AND PERFORMANCE

In terms of live performances during the year to 30 September 2023, the London Sinfonietta reached 18,148 people (2022 – 27,273) with 29 live performance events (2022 - 48) in venues and online, including 12 own and co-promotions, nine UK engagements and eight events for schools and communities. The organisation delivered one live streamed performance, a private digital event for our donors and supporters, and a further eight events were pre-recorded for delayed broadcast or as a separate digital production for use on the LS Channel. Three London Sinfonietta concerts were broadcast on radio, with an estimated 1.5 million listeners for the ensemble’s work across the year.

The Participation and Learning programme performed live to 14,374 people (2022 – 13,716) attending schools’ concerts at venues including Royal Festival Hall, in schools and online. In addition, we reached 1,312 children across 63 workshops, workshop-rehearsals and other participatory sessions, both in-person and online, and developing 22 new partnerships and relationships with schools across London, Gloucestershire and Wiltshire. The London Sinfonietta Academy provided training in contemporary music performance to 18 players , this year culminating in two performances, one in London at Purcell Room, and one in Folkestone.

Across all its live and broadcast work, the London Sinfonietta gave 30 (2022 – 14) world premiere and UK premiere performances, which included 12 (2022 – 12) works that were commissioned by or developed collaboratively with the ensemble.

In terms of digital reach, there were 143,539 (2022 – 141,350) unique views of the Charity’s website during the period, 12.34m (2022 – 13.69m) listens on Spotify and 115,671 (2022 – 78,970) views on YouTube during the period. We have steadily gained followers on YouTube, Spotify and Tiktok over the year making a total subscriber and follower base on these platforms of 11,942 (2022 – 9,555). The Charity also sustained its social media following at 20,544 (2022 – 20,570) followers on Facebook, 29,496 (2022 – 30,088) on Twitter, 4,161 (2022 – 3,423) on Instagram.

Overall, the London Sinfonietta reached an estimated 13.97 million people (14.5 million in the year to 30 September 2022) with its work. The variance on 21-22 is mainly due to the large number of Spotify streaming listens which fluctuate significantly year on year. Additionally, access to the ensemble’s significant recorded legacy through radio station relays, on-demand services and activity on streaming platforms contributes hugely each year to the organisation’s reach.

The number of performances also fluctuates yearly due to the nature of our art form. New, cutting-edge work and collaborations necessarily take time to develop and curate, and the market for such work in the UK and world-wide is smaller than for mainstream classical or popular music.

In 2022-23 we were able to sustain comparable levels of activity despite reduced ACE funding from April 2023, due mainly to the Transform One grant.

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An overview of our programme is outlined below:

Own/co-promotions

Overall, the season comprised nine own or co-promotions, most of which were at Southbank Centre as part of our Residency. This included one concert at Royal Festival Hall ( Reich/Richter ), five concerts at the Queen Elizabeth Hall ( Xenakis: Architect of Sound , Quartet for the End of Time , Sleeping Patterns , Sir Harrison Birtwistle: A Tribute and Fireworks ), and one at the Purcell Room ( Changing Standards ). The season also included two concerts at Kings Place as part of the organisation’s ongoing Turning Points series; one exploring the music of Tōru Takemitsu and Sound Unwrapped , a programme of electro-acoustic music and manipulated sound.

UK engagements

Key engagements during the year included the initial performance of Sleeping Patterns at Huddersfield Contemporary Music Festival in November 2022 (prior to its repeat performance in London) and a performance of Gérard Grisey’s Vortex temporum at the Queen Elizabeth Hall. The ensemble was also engaged by Oregon Music Festival to record a series of works by Polish composers.

Overseas engagements

Following several years with no overseas touring due to the pandemic, the ensemble returned to this area of its work in July 2023 with two performances at the Time of Music Festival in Viitasaari, Finland. The programme included movements from Hans Werner Henze’s colourful song cycle Voices alongside newly written protest songs written by composers from around the world. Next season will see more touring work with trips to China and Norway confirmed.

Smaller scale engagements during the period included a business training workshop for the Boston Consulting Group, a filming session for Arsenal Football Club and a performance at the ISM Conference.

Participation and learning

With generous support in place from the Peter Sowerby Foundation and other funders, the organisation was able to expand its Composition Challenge programme to reach many more schools in areas of the UK. The programme included in-school workshops, online workshops and continuing professional development sessions for teachers, to enhance their abilities to teach creative compositional skills within the classroom. We were also able to expand our wider schools’ programme or workshops and performances through partnership working with Orchestras Live (delivering projects in Northamptonshire and Cambridgeshire) and Royal Overseas League (delivering activity in schools in north London).

As usual, one of the highlights of the year was our Sound Out Schools Concert in March 2023 at the Royal Festival Hall, London. In addition to the live performance, the concert was filmed and later made available on our digital channel and YouTube so that it could reach thousands of pupils in schools outside of London.

A focal point of our work with communities during the year was our partnership with Enfield London Borough; between 22 - 25 May 2023, the London Sinfonietta set up residency in St Ignatius College, Enfield for a week of creative workshops, collaborative projects and open rehearsals, leading up to our Southbank Centre concert, Fireworks.

Our flagship professional development opportunity for emerging performers, London Sinfonietta Academy returned in July 2023 for its fourteenth edition culminating with two Musicians of Tomorrow concerts. Finally, the organisation delivered a project in October 2022 as part of its Untold Stories series, focussing on the story of a member of the public who is a central part of a community. This Community Commission, A Piece of the Puzzle by Derek Nisbet, was featured in a film released online and screened at Warwick Arts Centre.

Composer commissions and new work

Key London Sinfonietta commissions receiving their premiere in the 2022-23 season included five new works commissioned from jazz musicians Elliot Galvin, Laura Jurd, Robert Mitchell, Alex Paxton and Trish Clowes, a new piece called Sleeping Patterns from Juste Janulyte, a commission by Jack Sheen

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titled Phant Heap Render and a commission for the Sound Out Schools’ concert by Zoe Martlew. A commission by Samantha Fernando was also premiered as part of the Musicians of Tomorrow concert by participants of the Academy scheme. Two new works by Eduardo Miranda and Ailis Ni Riain, both exploring the possibilities of combining acoustic musicians with electronics, were developed with support from the London Sinfonietta and premiered at Sound Unwrapped (June 2023).

The organisation also continued its Writing the Future scheme, with development of the final work by Nwando Ebizie (written as part of the fourth edition of the scheme) ongoing during 2022-23 ahead of its planned premiere in November 2023. Evaluation of the scheme and planning work ahead of the launch of its fifth edition in Autumn 2023 was also undertaken during the period. Lastly, the organisation worked with partners at Trinity Laban to develop digital commissions which explore the musical possibilities offered by new technology and digital realms. The project will continue in 2023-24 with partners Royal Northern College of Music and Drake Music.

Digital projects

The organisation continued to release new digital content at regular intervals across the year, to inform and engage audiences about the contemporary music performed during the season. Altogether, 19 separate pieces of digital content were launched during the period, with views of over 40,000 to date.

PROGRESS AGAINST STRATEGIC AIMS AND OBJECTIVES

Aim 1: To make a 21st century new music programme relevant & accessible to a wider audience

The artistic season was split into two concentrated periods of activity, the first in Autumn 2022 and the second from March 2023 until the end of the year. The Autumn period showcased a varied series of concerts for audiences in London and Huddersfield, with programmes exploring influential composers from the 20[th] century (Xenakis, Messiaen, Penderecki and Takemitsu), many of whom had strong personal links to the London Sinfonietta through key works commissioned by the ensemble; new commissions from composers with a contemporary jazz background ( Changing Standards ) and from composers rooted more in a central European tradition of contemporary art music (Juste Janulyte, Jack Sheen).

The second period of activity began in March 2023 and included a concert celebrating the music of Sir Harrison Birtwistle (who passed away in 2022 and enjoyed a long and fruitful relationship with the London Sinfonietta), as well as Reich/Richter , a multi-media piece by Steve Reich set to a film by Gerhard Richter. This event at Royal Festival Hall drew a large audience of Reich fans and also included a tribute to Mira Calix following her untimely death. In May 2023, pieces by Dai Fujikura and Augusta Read Thomas received their UK premiere alongside a performance of György Ligeti’s Chamber Concerto, introducing this timeless work from the London Sinfonietta’s back-catalogue to another generation of music-lovers.

Considerable investment and effort went into the Couch to Concert audience development initiative during the season, designed to support new audiences attending contemporary music concerts for the first time. This project, which began in 2021-22 with support from the Royal Philharmonic Society Audience Fund, was linked to our Turning Points concert series. It offered those who signed up to participate a podcast series in which BBC Radio 6 Music’s Cerys Matthews joined seasoned music journalist Paul Morley to explore the music ahead of the Turning Points: Takemitsu concert. Those attending were also provided with supporting materials to welcome them to the event. A further podcast series hosted by Jamz Supernova (DJ BBC 6Music,1Xtra) focussed on electronic music and culminated with the T urning Points: Sound Unwrapped concert . Podcast guests included Paul Morley (music journalist), Eduardo Miranda (electroacoustic composer), Sally Pendelbury (cellist) and Jonathan Berman (conductor).

The organisation’s digital programme continued to release regular content. This included professionally captured and edited performance films of Indígena by Tania León, Assemblage by

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George Lewis, Verdala by Hannah Kendall and In Broken Images by Sir Harrison Birtwistle, amongst many others. In addition, we showcased the work of our Participation and Learning department with films of our community programme In Town and two Composition Challenge concerts in Spring and Summer 2023.

Following analysis of the level of engagement with different types of digital content across previous seasons, the programme became more focussed on content that explored the music and/or provided insight into the performance of contemporary music. Our Introduction to... series, diving into performance techniques for different instruments, was particularly popular, providing online masterclasses from our Principal Players which can be used by music students around the world.

Aim 2. To create social impact through our activities

Over the course of the year, the London Sinfonietta engaged directly with school & community settings both in and out of London - involving people closely with our music as co-creators and participants. One of the highlights of our work in this area was London Sinfonietta’s partnership with Enfield London Borough; between 22 - 25 May 2023, the London Sinfonietta set up residency in St Ignatius College, Enfield for a week of creative workshops, collaborative projects and open rehearsals, leading up to our Southbank Centre concert, Fireworks. We engaged the secondary-age students with world-class contemporary music, with opportunities to compose, film and learn the inner workings of a professional ensemble. By the end of the residency, the students had written a series of extracts based on protest songs, featuring themes such as racial inequality, discrimination and lack of representation. They then worked collectively to rehearse and perform their final composition, to be performed in a main concert next season. This activity was supported by the Transform One grant.

The London Sinfonietta’s Composition Challenges initiative continued to grow, reaching thousands of primary school-aged children across the UK. Thanks in part to a grant from the Peter Sowerby Foundation for the academic year 2022-23, LS delivered workshops in Enfield, Haringey, Waltham Forest, Southwark, Gloucester, Isle of Wight, Portsmouth and Wiltshire, areas of low investment and engagement which have either been identified as government ‘Levelling up for Culture Places’ or as an Arts Council England ‘Priority Place’. Participating schools were invited to submit their compositions to London Sinfonietta for inclusion in different concerts throughout the year. Two of these were held online in the Autumn and Spring terms and comprised entirely of the pieces created by participating schools. Two compositions were included in London Sinfonietta’s flagship Sound Out concert at the Royal Festival Hall in March 2023 (see below) and a third online concert was filmed and released in the first week of July 2023.

In November 2022 we co-produced an exciting project with Orchestras Live in Northampton involving Zingaresque, an ensemble from Northamptonshire Music and Performing Arts Trust (NMPAT), and Dexterity, a local Northamptonshire dance group. Exploring themes of photosynthesis, barren landscapes and incorporating a piece of Native American chant, the project helped to facilitate a creative process of young people thinking, creating and composing collaboratively.

The culmination of our work in schools was the Sound Out concert which this year took place on 9 March 2023 at the Royal Festival Hall to a live audience of school children and repeated as a digital performance. The concert featured the outcome of workshops that LS musicians had undertaken in early Spring with our North London partner boroughs in Haringey, Waltham Forest and Enfield, engaging young people in composing, improvising and performing activities. In all, 32 young musicians created and performed brand new material with Lucy Armstrong, conductor, at the helm, and in addition, selected schools’ Composition Challenge compositions were featured during the performance. In total, the Sound Out concert reached an in-person audience of 1,726 at the RFH, 4,824 watched the online performance within 24 hours and 6,836 watched online later.

Our other primary objective in Aim 2 was to deliver work which was relevant to contemporary society and reflected the lives of people and communities. In Autumn 2022, another edition of Untold Stories

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was premiered at Warwick Arts Centre, bringing to life stories from the local community and celebrating the importance of connecting with those around us. Derek Nisbet’s film A Piece of the Puzzle was inspired by Avi Tordjman, a member of the Jewish community in Coventry, charting his story via unique composition, interviews, images and traditional Jewish instrumentation. In July 2023 the iconic 20th Century work Voices by Hans Werner Henze was used as a creative springboard for six composers to write new protest songs, comparing societal issues around the world. These new commissions were performed at the Finnish festival Time in Music .

In addition, our digital content releases across the season featured several films of performances and commissions which respond to contemporary issues, such as Alicia Jane Turner’s Tell me when you Get Home , released in October 2022, a theatrical and sensory piece that explores gendered experiences of walking alone at night.

Aim 3. To evolve an inclusive & equitable organisation & ensemble of artists

The organisation continues to evolve a robust pipeline of talented artists and musicians via its programme of early-career talent development opportunities for composers, conductors and performers.

The fourteenth edition of the London Sinfonietta Academy took place 16 to 20 July 2023, enabling musicians in the early stages of their careers to develop their contemporary music performance skills. In all, 18 player participants received expert one-to-one tuition and mentorship from London Sinfonietta Principals and Emeritus Principals and took advantage of opportunities such as composition workshops, Participation & Learning activity, talks, sectionals, side-by-side sessions and a social evening. Led and conducted by London Sinfonietta Academy alumnus Geoffrey Paterson, the emerging musicians also had the chance to premiere a new work by Samantha Fernando. The course culminated in two Musicians of Tomorrow concerts; one at the Purcell Room and one at the Church of St Mary & St Eanswythe in Folkestone.

Towards the end of the year, plans for Academy Pathways , a new programme aimed at broadening access to development opportunities for young performers at tertiary or post-graduate level, began to be put in place prior to its launch in 2023-24 season.

2022-23 saw the launch of a new programme forged with partners Royal Northern College of Music, Trinity Laban and the disability organisation Drake Music Project, exploring how to make new compositions for digital playout. The Writing the Future programme for early-career music creators also continued, with Nwando Ebizie putting the finishing touches to her work Fall And Then Rise. This was subsequently premiered at the Colour Factory in Hackney (November 23). A new edition of Writing the Future is being planned and will be launched during the 2023-24 season.

The Charity continued to feature composers from different backgrounds and perspectives, with a notable increase in commissioned music creators from a Global Majority background and we were able to feature many more commissions from women or gender minority composers, achieving a 50% / 50% balance in gender across 2022-23.

We have also worked to improve the diversity of the artists featured on stage. The organisation is continuing its policy of seeking out extra players of varied backgrounds and ages in order to diversify the playing ensemble as much as possible. The 2022-23 workforce survey of Council, staff and freelancers demonstrated that our workforce has shown positive signs of becoming more representative in several protected characteristic areas over the past five years, although the organisation remains under-representative of the UK population in terms of disability and ethnicity. The organisation continues to work on increasing representation in these key areas as part of our Inclusivity and Relevance Action Plan.

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Several EDI training and development sessions took place across 2022-23. One of these with Tonic Theatre, in June 2023, was a refresher course in essentials of Equality, Diversity and Inclusion, and the second session, led by Culture Shift, in September 2023, was specifically on Disability Awareness. In addition, members of the team attended a ‘Teamwork in Practice’ workshop exploring socio-economic inclusion, and the Management team with a member of the playing ensemble also attended a series of discussion groups convened by Black Lives in Music around developing more inclusive orchestral recruitment practice.

Aim 4: To evolve a resilient, sustainable organization

As previously mentioned, the Transform grants from Arts Council England are crucial in supporting the organisation as it adjusts its business model to become sustainable at a lower level of core funding from Arts Council England. Transform One provided stability in 2022-23 and enabled our programme to go ahead as planned. Transform Two will allow the organisation to explore new avenues for fundraised and earned income and evolve the business model to become more resilient.

A key part of the organisation’s initial strategy under the Transform Two project, is to grow UK and overseas touring activity to earn more revenue from this area. It was therefore a positive step to begin overseas touring again in July 2023, following the complete cessation of this activity during the years during and directly following the pandemic. With funding from Transform Two, a new post is to be created which is solely aimed at developing this area of work.

Although we have not yet been successful in developing a traditional business sponsorship relationship with a corporate, the organisation undertook some activities in this area during the year, including providing musicians to help lead a training workshop for the Boston Consulting Group. Our long-term relationship with Francis Taylor Building (barristers’ chambers) is also likely to lead to future performances for private events to entertain their clients (planned for November 2023).

The Charity continued to explore different models to attract individual donors, with an intimate fundraising evening held in June 2023 in a private home and hosted by conductor Martyn Brabbins. This small-scale event was successful in allowing us to build relationships with new and existing donors and helped to increase the Charity’s support base.

The organisation continued to consider and refine its approach to Environmental Responsibility, reflecting on how it can make the biggest impact in this area in the longer-term. This encompasses its response to Arts Council England’s Investment Principle as well as a broader commitment to create art which is meaningful and responds to the concerns of contemporary society.

During the period we continued to produce projects and programmes which inspired and engaged audiences on environmental themes. This included:

In line with the organisation’s cycle of funding and reporting to Arts Council England the Environmental Policy and Action Plan was re-written in March 2023 for the period to March 2024. The organisation also made progress with collecting and analysing its carbon emissions data, including new areas of its carbon footprint in the figures submitted to Julie’s Bicycle in June 2023 (reporting on the 12-month period to 31 March 2023). The management team continues to explore more efficient ways to collect data which falls under Scope 3, such as the emissions arising from business travel and touring, and to develop new initiatives to better understand and reduce the Charity’s carbon footprint.

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Sinfonietta Productions Limited (a company limited by guarantee)

Evaluation and Review

The Charity’s monitoring and evaluation framework encompasses quantitative and qualitative data collection using formal and informal evaluation methods, centered on a cycle of regular internal meetings, reports and reviews. Quantitative data collection takes place across key activity areas, and management staff report to the board on a quarterly basis, including progress against Business Plan objectives and key performance indicators. The management team imports, extracts and analyses data from Exchequer (finance), ArtsVision (performances and repertoire) and Tessitura (ticketing, customer and donor data).

Qualitative data is captured from internal evaluation of events and external customer surveys and focus groups, and informal feedback via social media. A full audience ‘Ambition & Quality’ survey was launched in Summer 2023 and will be repeated annually. Critical feedback from press reviews and industry peers is regularly compiled to gain a rounded view of how projects are received and to inform future artistic planning, and the organisation uses tools such as Impact & Insight surveys via the Culture Counts online platform to collect customer and peer feedback on selected events.

This year saw an increase in reporting requirements for ACE NPO funding with the launch of a new audience and event data insights platform, called Illuminate, which entails quarterly uploads of activity survey and box office data via the Illuminate portal. An annual statistical data survey is also required by ACE. The organisation monitors and evaluates its progress against the requirements of ACE NPO funding including ACE Activities & Outcomes and ACE Investment Principles, via the internal Management team, LS Council meetings and the board committees. ACE issue a quarterly risk assessment, and every year an evaluation is provided by the ACE relationship manager on the organisation’s progress against objectives.

Financial review and Key Performance Indicators

The Charity is pleased to report a surplus on General Unrestricted Funds for the year of £20,154 (£94,200 – 2022). The Revenue Reserve shows a balance of £7,001 (£4,554 – 2022) and the Contingency Reserve has increased to £125,000 (£120,000 - 2022). At the end of the period, the balance on Restricted Funds was £210,675 (£111,271 - 2022) and the balance on Designated Funds reduced to £129,078 (£171,371 - 2022) with £55,000 disbursed from the Strategic Projects Fund to support activity during the year and £12,707 transferred in from income earned during the period.

The Statement of Financial Activities shows net income on Total Funds (before transfers) of £64,558 (£48,926 – 2022). This is made up of the surplus on General Funds of £20,154, a decrease on Designated Funds of £55,000 and an increase on Restricted Funds of £99,404. The movement on Restricted Funds represents a net increase in funds held for activity which will take place in future periods.

Total incoming resources in the year were £1,220,483 (£1,264,764 to 30 September 2022). This figure includes £456,513 of funding from Arts Council England (£508,757 - 2022); income of £367,314 (£330,454 – 2022) from other fundraised sources such as trusts, foundations and individuals and £266,049 (£297,980 - 2022) earned from the Charity’s activities (principally engagement fees and box office income).

Full details of all the figures are shown in the Statement of Financial Activities and the Notes. Further details of the Charity’s activities are shown in the Achievements and Performance section of the Strategic Report.

Funds

The charity’s funds fall into two groups:

Restricted Funds – funds which are earmarked for a particular purpose by those who provide them

Unrestricted Funds
Designated Funds _–_funds which the Council earmarks for specific strategic purposes
Contingency Reserve – funds held to provide for contingencies that may arise in the future
Revenue Reserve _–_the balance carried forward on the Statement of Financial Activities
consisting of funds available for use by the organisation to contribute towards
its ongoing future artistic activity

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Sinfonietta Productions Limited (a company limited by guarantee)

Reserves Policy

A key element in the management of financial risk is the regular review of the Charity’s policy on reserves. The Trustees aim to build up a Contingency Reserve at an appropriate level to provide for unforeseen liabilities and mitigate risks that may arise, whilst also giving the Charity the confidence to fulfil its artistic ambition to continue to innovate and invest.

In December 2022, following news on the reduction in core grant from Arts Council England, the Trustees agreed that due to the change in circumstances, it would be prudent to transfer £25,000 to the Contingency Reserve to achieve the £120,000 target previously set in the Reserves Policy ahead of schedule. At 30 September 2022 the Contingency Reserve therefore reached £120,000.

In September 2023 the Trustees considered the longer-term Reserves Policy and determined that due to changes in the external environment and to the organisation’s core funding, a new target for reserves should be set at £150,000, this being broadly equivalent to either three months’ operating costs or the amount considered prudent to mitigate against several key potential financial risks (such as safeguarding against a potential loss from non-payment of fee on a large-scale artistic project). The timetable for meeting this target was set at five years to allow time to build this amount at a sustainable pace. At 30 September 2023 the Trustees agreed to transfer £5,000 to the Contingency Reserve, bringing the total to £125,000 (£120,000 - 2022).

Going Concern

The Trustees consider that, at the date of the signing of the Report and Accounts, the Charity is a going concern, based on their review of existing funds, secured income for future periods and expected cash flows. This takes into account the impact of the reduced level of grant from Arts Council England and the ongoing evolution of our business model.

Risk Management

The Council of Trustees is ultimately responsible for the management of risks and this focus is driven by the Finance, Risk & Audit Committee. The Charity has a Risk Register which identifies the major risks to which it may be exposed and ranks these by likelihood and impact as well as summarising controls in place to mitigate each risk. These risks and any newly arising risks are reviewed and discussed regularly at Council meetings and the Risk Register is revised in the light of changes and developments.

The Charity’s controls are designed to provide reasonable but not absolute assurance against material misstatement, loss or exposure to risk. Activities are largely project-based, and systems are in place to ensure that the Charity’s exposure is kept in line with secured core and project funding. The Trustees are satisfied that the systems developed will mitigate exposure to major risks and believe that risk management is a tool that assists the Charity in promoting its charitable purposes.

A key risk area faced by the organisation currently is the successful evolution of its business model following confirmation of a reduction in core funding from Arts Council England (ACE). This risk is well mitigated by the funding from Transform Two which provides tapering support across the period from August 2023 to March 2026 and aims to underpin the organisation as it explores new business models and income streams. From April 2026 the organisation will need to be in a place to sustain itself and deliver against its Mission and Vision with a reduced core funding base. The Transform Two project will help to grow a more resilient and sustainable future for the Company.

As identified in the Risk Register, the Charity considers the key risks at the current time to be as follows:

Risk identified Action taken to mitigate risk
Identifying and implementing a significant change
to the business model following a reduction in core
funding.		 A successful application to ACE’s Transform Two
funding programme to support the development of
new income streams and the evolution of a new
business model to strengthen resilience and build
long-termsustainability.
A further significant drop in income from a key
source which threatens the Charity’s financial
stability.		 As above, the organisation is working to diversify its
income streams and innovate its model.

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Sinfonietta Productions Limited (a company limited by guarantee)

In the short term, the Reserves target has recently
been reviewed and the organisation is working
towards achieving a new target. Designated Funds
could be used to plug an unforeseen budget
shortfall. Careful forward planning takes account of
income which is unconfirmed and ensures that
activityis confirmed in line with this.
Cyber security and cyber-crime risks, including
malicious attacks from external sources resulting
in fraud and/or damage to IT systems and/or loss
of data leading to financial liabilities, operational
difficulties and potential damage to reputation.		 IT support company advises on and manages
security and back up procedures. Relevant
Employee Policies are in place to help safeguard IT
security and data and staff receive training on
spotting potential cyber risks.
Cyber Security insurance is in place.
Simultaneous loss of multiple, senior level
management personnel.		 Sufficient notice periods included in contracts,
handovers planned with outgoing managers and
documentation of key systems and processes in
place. The organisation has a successful track
record of attracting strong candidates and strives to
be a welcoming and inclusive place to work, which
pays equitably.
Risks arising from a sudden major catastrophic
event (such as a weather event, pandemic, war,
terrorism) causing the cancellation of events or
the closure of the LS office.		 The pandemic has helped us to put in place better
business continuity plans and the ability to work
effectively remotely. Promoter contracts include
Force Majeure clauses to reduce potential liabilities
and cancellation insurance policies are taken out
where appropriate.

Other risks identified at the current time arise from uncertainties in the external environment, such as the conflicts in Ukraine and Gaza, the upcoming General Election and the impact this could have on funding and support for the arts, increased costs due to high inflation in recent years and increased competition for private funds (i.e. from Trusts & Foundations) due to the squeeze more generally on public funding from central and regional government arising from austerity. This means that while costs continue to rise for the Charity it is becoming harder to secure grant funding. The Charity’s ability to adapt quickly and flexibly will continue to help mitigate risks arising from external change.

Funders and supporters

As already described, it was confirmed in November 2022 that the Company had been successful in maintaining its position as part of Arts Council England’s (ACE) National Portfolio for the three years from April 2023 (responding to ACE’s new 10-year strategy Let’s Create , its Three Outcomes and four Investment Principles) but at a much lower level of grant support than previously. The organisation’s annual grant dropped from £500,757 to £300,000 per year from April 2023, a reduction of 41%.

As a result of this reduction, the Company was eligible to apply to ACE’s Transform Programme and was initially awarded a grant of £52,135 under Transform One for the period April to July 2023, providing transitional support as the organisation adjusted its plans in response to the reduced funding level.

In late March 2023, it was confirmed that our application to ACE’s Transform Two programme, for tapered support during the period August 2023 to April 2026, had also been successful. The funding can be used to support some core costs but at least 50% of the total grant is be spent on researching and implementing a refreshed business model, diversifying income streams and developing the organisation to become sustainable and resilient for the long term. At the time of writing, this project is underway, and the organisation is engaged in a process of refreshing its Vision, Mission and Values.

The London Sinfonietta is grateful to Arts Council England for its continued support as a National Portfolio Organisation and through its Transform programme. We would also like to gratefully acknowledge the support of other key funders during the year including The Boltini Trust, Daiwa Anglo Japanese Foundation, D’Oyly Carte Charitable Trust, The Ernst von Siemens Music Foundation, The Garrick Charitable Trust, Harold Hyam Wingate Foundation, John Ellerman Foundation, The John S Cohen Foundation, Jerwood Arts, The Lucille Graham Trust, The Marchus Trust, The Royal Philharmonic Society Audience Fund – in association with the

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Sinfonietta Productions Limited (a company limited by guarantee)

Rachel Baker Memorial Charity, Peter Sowerby Foundation, PRS Foundation, The Radcliffe Trust, Stanley Thomas Johnson Foundation, The Steven R. Gerber Trust and Thriplow Charitable Trust.

The organisation acknowledges with much gratitude the many donations from individual supporters which help us to achieve our goals, particularly in supporting the development of new commissions and the continuation of its schools’ programme.

The London Sinfonietta was a member of the Fundraising Regulator during this financial year.

PLANS FOR THE FUTURE

Due to the organisation’s reduced funding and the imperative to preserve staff capacity to progress with the Transform Two project (developing new income streams and evolving the business model), the overall scale of the artistic programme is somewhat reduced in the 2023-24 season.

At the time of preparing this Report, artistic plans for the period include:

Own/co-promotions (London and UK)

A full season of live concerts at Southbank Centre including:

UK engagements

The 2023-24 season aims to sustain UK touring as a core part of the ensemble’s activity while the organisation also works to develop more touring partners for the future. Performances include:

Overseas engagements

Following the ensemble’s return to overseas touring in July 2023, touring in 2023-24 includes a trip to Beijing, China in October 2023 to give two performances of Béla Bartók's Bluebeard’s Castle (in a new

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Sinfonietta Productions Limited (a company limited by guarantee)

version for chamber ensemble) with opera company Theatre of Sound . This will be followed by a chamber concert featuring music by Olivier Messiaen and Chinese composer Chou wen Chung. In early November 2023 the ensemble will also travel to Bærum Jazz Festival, Norway to perform Marius Neset’s Geyser ahead of its London performance.

Participation and learning

The London Sinfonietta continues to deliver work in three strands: Learning, Participation and Talent Development.

Our successful Composition Challenges project is ongoing with generous funding from The Foyle Foundation, bringing composition workshops and concerts in person to upper Primary school children across England. Our work in North London boroughs also continues, culminating in a live Schools’ Concert at the Royal Festival Hall in March 2024. This concert is filmed for subsequent release online for schools who are unable to make the live performance.

Our work in schools crosses over with work in the community in the London Borough of Enfield. We return to St Ignatius College for our second residency and begin working with the community in a local library, commissioning a new piece of music and film inspired by the stories of residents. The second year of in-depth work in Enfield will be celebrated with a concert at Dugdale Arts Centre in May 2024, featuring the work of young people and the community alongside a programme of minimalist works.

Participation work also surrounds our concerts, with the audience invited to join us in a performance of Ligeti’s Poeme Symphonique (100 metronomes) ahead of our Ligeti concert at Southbank Centre.

Our Talent Development work continues with the next round of Writing the Future for emerging composers and the newly launched Academy Pathways aims to reach beyond the conservatoires who traditionally engage with our programmes for emerging performing talent.

Composer commissions and new work

Commissions and co-commissions in 2023-24 season will include a new work by Nwando Ebizie, a new work for solo piccolo by George Lewis, a new work incorporating protest songs written by Lucy Armstrong in collaboration with students from St Ignatius College, Enfield and a new piece by Electra Perivolaris, written in collaboration with young composers from schools in Enfield, Waltham Forest and Haringey (to be performed at the Sound Out Schools’ concert).

Digital engagement

The organisation continues to produce a range of digital content to introduce audiences to composers programmed in its main season of concerts and to explore contemporary music from a variety of perspectives. We have an existing bank of digital content which is still to be released in future seasons including music from Xenakis, Diana Burrell, John Woolrich and Saariaho. We will also continue to produce brand-new digital commissions developed in collaboration with composers and academic partners which will also be released in a variety of contexts, including online.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal status

Sinfonietta Productions Ltd (working as the London Sinfonietta) is registered as a Company limited by guarantee (Company number 00926551) and as a Charity with the Charity Commission (Charity number 255095). The Charity’s Trustees, also Directors of the Company, are called the Council. The Charity was founded in 1968 and is governed by its Memorandum and Articles of Association. Membership of the Company consists of the current Directors. Members are co-opted by the Council and stand for election by the Members at the following general meeting of the Company.

Appointment of Trustees

As set out in the Articles of Association, the number of Trustees shall be not less than five and shall not exceed 18. This includes at least two and no more than four Trustees who are Principal Players with the London Sinfonietta. The Trustees can co-opt additional Trustees who will stand for formal appointment at the subsequent general meeting. A skills audit of existing Trustees is undertaken regularly (most recently in March 2024) to identify specialist skills needed. All Trustees can nominate potential new Trustees for consideration, and the Council advertises publicly for them as required.

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Sinfonietta Productions Limited (a company limited by guarantee)

A third of Trustees are required to retire from office at each Annual General Meeting and are eligible for reelection. Trustees can serve three terms of three years, a maximum of nine consecutive years, and retire by rotation in accordance with the Articles of Association.

An induction process is in place for new Trustees which includes spending time with the Chair and the Chief Executive as well as receiving relevant information about the organisation and their responsibilities as Company Directors and Charity Trustees. The Council of Trustees meets at least four times a year and they are encouraged to attend the organisation’s programme of concerts, events and projects. Trustees also sit on board committees and may participate in ad hoc working groups involving the management team where they can bring advice to particular areas of the operation. Trustees are also encouraged to attend appropriate external training events where these will facilitate their role.

The organisation continues to ensure that there is regular rotation of Trustees in line with its governing documents. A recruitment round for new Trustees in Summer 2023 was successful, with two new Trustees expanding the skills and diversity of the current Board appointed in Autumn 2023.

Ultimate responsibility for the Charity rests with the Council of Trustees. The Trustees during the year are listed on page 3 and details of the Trustees’ responsibilities are set out on page 20.

Organisation and Management

The day-to-day running of the organisation is managed by the Chief Executive & Artistic Director, Andrew Burke, working closely with the General Manager, Head of Finance, Head of Concerts & Production, Head of Participation & Learning and other members of staff to deliver the Company's programme of work. Over the period, the Company has had a team of six full-time and five part-time salaried staff members (on average). This is a loss of one (FTE on average) staff member from 2021-22 (although the average in 2022-23 includes two employees who were on maternity leave during the first six months of the period, increasing the figure a little). Due to the need to maintain flexibility following the reduction in core NPO funding, several staff members this year have been recruited on a temporary fixed-term basis, and one role (the Digital Productions Manager) was not replaced when the post-holder left the organisation. We also continue to use the services of a freelance Fundraiser, following the loss of the full-time Development Manager role from the team.

The Chief Executive is a member of the Council of Trustees and reports to it, as well as maintaining regular contact with the Chair. Budgets are set by the Chief Executive and Head of Finance and ratified by the Council. The organisation’s Strategic Aims and Objectives, revised for 2022-32, describe the Company's strategic aims and ambitions; annual and three-year Business Plans outline activity in all areas, including artistic planning, participation and learning, digital projects development, financial planning and organisational development. In all matters, the Council monitors progress and delivery against the Business Plan aims.

The Council has three Committees. The Finance, Risk & Audit Committee meets at least four times a year to review financial planning and reporting in advance of Council meetings and to consider the organisation’s financial, strategic and operational risk. The Programme Strategy Committee meets at least twice a year to review past and future artistic plans including those of our public engagement programme. Lastly, the Income Generation Committee meets to consider fundraising, areas of new income streams and business model innovation. Other ad-hoc working groups are set up from time to time to work on specific, short-term projects.

Third Party Indemnity insurance was in force during the year for the benefit of all Trustees/Directors of the Charity and the management team.

Remuneration Policy for Senior Management Personnel

The senior management team comprise the key management personnel of the Charity, in charge of directing and controlling, running and operating the Charity on a day-to-day basis. During the year ended 30 September 2023, the senior management team were the Chief Executive & Artistic Director, the General Manager, the Head of Finance, the Head of Concerts and Production and the Head of Participation & Learning. Their remuneration, along with that of all staff, is reviewed annually and increased when appropriate, taking into account affordability, inflation and market practice. The Charity regularly benchmarks pay levels against other charities of similar size and purpose. Taking into account the continued challenges from increases in cost-ofliving, the Charity recently awarded modest pay uplifts to staff in order to remain competitive.

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Sinfonietta Productions Limited (a company limited by guarantee)

No Trustees received remuneration during the period, except as authorised by the Company’s Memorandum & Articles of Association. Where Trustees receive remuneration for other services provided to the Charity, these are detailed under Note 11. During the year, this included the Chief Executive & Artistic Director and three Principal Players.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The Charity Trustees (who are also Directors of Sinfonietta Productions Ltd for the purposes of Company Law) are responsible for preparing a Trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit, profit or loss of the charitable company for that period.

In preparing those financial statements, the Trustees are required to:

The Trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees acknowledge their responsibility for the maintenance and integrity of the corporate and financial information included on the charity’s website.

So far as the Trustees are aware, there is no relevant audit information (information needed by the company’s auditors in connection with preparing their report) of which the company’s auditors are unaware, and each Trustee has taken all the steps that he ought to have taken as a Trustee in order to make himself aware of any relevant audit information and to establish that the company’s auditors are aware of that information.

Auditors

A Resolution will be placed before the Members at the Annual General Meeting to approve the reappointment of MGR Weston Kay LLP as Auditors of the Company in accordance with the Companies Act 2006.

This Report, relating to the reporting period ended 30 September 2023, was approved by the Council of Trustees on 26 April 2024 and signed on their behalf by:

F Thompson Chair of the Trustees

A Burke Chief Executive

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Sinfonietta Productions Limited (a company limited by guarantee)

Independent Auditors’ Report to the Members of Sinfonietta Productions Limited (a company limited by guarantee)

Opinion

We have audited the accounts of Sinfonietta Productions Limited for the year ended 30 September 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the accounts, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the accounts:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of accounts section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing these accounts, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the accounts and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with out audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

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Sinfonietta Productions Limited (a company limited by guarantee)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Trustees and its environment obtained in the course of the audit, we have not identified material misstatements in the Chairman’s And Trustees Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Statement of Chairman’s And Trustees’ Responsibilities, the Chairman and Trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue and auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts. A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors report.

Explanation as to what extent the auditor was considered capable of detecting irregularities including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

As part of our planning of the audit work required we obtained an understanding of the legal and regulatory frameworks that are applicable to the entity via enquiries of the company’s management, carried out analytical procedures, held discussions amongst the engagement team and using knowledge of the sector determined that the most significant laws and regulation are those that relate to:

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Sinfonietta Productions Limited (a company limited by guarantee)

We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Charities SORP, FRS102 and the Companies Act 2006.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with the laws and regulations and the fraud risks identified. This included enquiries with management to understand their policies and procedures for compliance with those regulations and we completed the following tests:

We also assessed the risks of material misstatement in respect of fraud as follows:

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud. This included the risk of management bias and the risk of making inappropriate accounting entries.

No significant issues were identified during our testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non – detection of irregularities, as these could involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and regulations made under that Act. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditors’ 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 charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed.

Nigel Walfisz FCA (Senior Statutory Auditor) For and on behalf of MGR Weston Kay LLP Chartered Accountants Statutory Auditors 55 Loudoun Road St John’s Wood London NW8 0DL

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Sinfonietta Productions Limited (a company limited by guarantee)

Statement of Financial Activities (incorporating the Income and Expenditure Account) for the year ended 30 September 2023

Notes
Income
Donations
3
Income from charitable
activities
4
Other income
5
Investment income
6
Total income
Expenditure
Costs of raising funds
7
Expenditure on
Charitable activities
7, 8
& 9
Total expenditure
Net income/
(expenditure) before
transfers
Gross transfers between
funds
Net movement in funds
Reconciliation of funds
Funds brought forward
Funds carried forward
17		 Unrestricted Funds
General
Designated
£
£
511,402
-
241,950
-
129,006
-
1,601
-
883,959
-
81,141
-
782,664
55,000
863,805
55,000
20,154
(55,000)
(12,707)
12,707
7,447
(42,293)
124,554
171,371
132,001
129,078		 Restricted
Funds
£
312,425
24,099
-
-
336,524
-
237,120
237,120
99,404
-
99,404
111,271
210,675		 Total Funds
2023
£
823,827
266,049
129,006
1,601
1,220,483
81,141
1,074,784
1,155,925
64,558
-
64,558
407,196
471,754		 Total
2022
£
839,211
297,980
127,475
98
1,264,764
59,892
1,155,946
1,215,838
48,926
-
48,926
358,270
407,196

This Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure is derived from continuing activities.

The Notes on pages 27 to 35 form part of these accounts.

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Sinfonietta Productions Limited

(a company limited by guarantee)

Balance Sheet at 30 September 2023

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Short term deposits
14
Cash at bank and in hand
Total
Creditors:Amounts falling due
within one year
15
Net current assets
Net assets
The Funds of the Charity
Restricted Income Funds
Unrestricted Income Funds
Designated Funds
Contingency Reserve
Revenue Reserve
Total Charity Funds
16		 2023
£
£
946
389,696
4,161
222,085
615,942
(145,134)
470,808
471,754
210,675
129,078
125,000
7,001
471,754		 2022
£
£
1,895
200,927
33,032
303,567
537,526
(132,225)
405,301
407,196
111,271
171,371
120,000
4,554
407,196		 2022
£
£
1,895
200,927
33,032
303,567
537,526
(132,225)
405,301
407,196
111,271
171,371
120,000
4,554
407,196
407,196
111,271
171,371
120,000
4,554
407,196

The accounts were approved by the Council of Trustees on 26 April 2024 and signed on its behalf by:

F Thompson

Chair of the Trustees

A Burke Chief Executive

Company registration No: 00926551 Registered Charity No: 255095

The Notes on pages 27 to 35 form part of these accounts.

25

Sinfonietta Productions Limited (a company limited by guarantee)

Statement of Cashflows For the year ended 30 September 2023

Cash flows from operating activities
Surplus for year ended
Interest received
Depreciation
Decrease/(Increase) in debtors
(Decrease)/increase in creditors
Net cash provided by operating activities
Cash flows from investing activities
Interest from bank deposits
Net cash from investing activities
Change in cash and cash equivalents in the
year
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Cash and cash equivalents
Short term deposits
Cash at bank and at hand
Cash and cash equivalents at 30 September		 2023
£
£
64,558
(1,601)
949
(188,769)
12,909
(111,954)
1,601
1,601
(110,353)
336,599
226,246
4,161
222,085
226,246		 2023
£
£
64,558
(1,601)
949
(188,769)
12,909
(111,954)
1,601
1,601
(110,353)
336,599
226,246
4,161
222,085
226,246		 2022
£
£
48,926
(98)
949
(57,728)
(33,060)
(41,011)
98
98
(40,913)
377,512
336,599
33,032
303,567
336,599		 2022
£
£
48,926
(98)
949
(57,728)
(33,060)
(41,011)
98
98
(40,913)
377,512
336,599
33,032
303,567
336,599
1,601 98
(110,353)
336,599		 (40,913)
377,512
226,246 336,599
4,161
222,085		 33,032
303,567
226,246 336,599

The Notes on pages 27 to 35 form part of these accounts.

26

Sinfonietta Productions Limited (a company limited by guarantee)

Notes to the Accounts for the year ended 30 September 2023

1.

Accounting policies

The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice for Charities (October 2019 SORP), which became effective for all periods commencing on 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Sinfonietta Productions Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are recognised initially at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The principal accounting policies adopted in the preparation of these financial statements are as follows:

(a) Going concern

The Trustees consider that there are no material uncertainties regarding the Charity’s ability to continue as a going concern and have prepared these financial statements on this basis.

(c) Expenditure

Costs and expenses have been apportioned between the cost of raising funds and expenditure on charitable activities according to the nature of the work performed and the time taken.

All expenditure is accounted for under the accruals concept.

(d) Operating leases

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

(e) Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the Statement of Financial Activities.

(f) Pension costs

The Charity operates individual defined contribution pension schemes. The assets of the schemes are held separately from those of the Charity in independently administered funds.

(g) Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. They are depreciated on a straight line basis over their estimated useful economic lives, as follows:

Years
Office and stage equipment 5
Computer equipment 5

(h) Investments Investments are shown at market value and all changes in value in the year, whether or not realised, are reported in the Statement of Financial Activities.

27

Sinfonietta Productions Limited (a company limited by guarantee)

Notes to the Accounts for the year ended 30 September 2023

(i) Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors, are initially recognised at transaction value and subsequently measured at their settlement value.

(j) Taxation

The Company is a registered Charity, and accordingly is not subject to Corporation Tax on its charitable activities. The tax credit for the year is the payable tax credit claimed under the Orchestra and Theatre Tax Relief schemes.

(k) Fund accounting

Funds held by the Charity are categorised as follows:

Restricted Funds : funds which are earmarked for a specific purpose by the donors.

Unrestricted Funds : funds which can be used in accordance with the charitable objects at the discretion of the Trustees. Unrestricted funds include:

Designated Funds : unrestricted funds which have been earmarked for specific purposes by the Trustees.

Contingency Reserves : funds held to provide for contingencies that may arise in the future. Revenue Reserves : the balance of funds carried forward on the Statement of Financial Activities consisting of funds available for use by the Charity to contribute towards its ongoing artistic activity.

(l) Intangible income and gifts in kind

Donations in kind are valued and included in income to the extent that they represent goods or services which would otherwise be purchased. The valuation is based on what a third party would pay for the good or service. An equivalent amount is charged as expenditure. Income and the corresponding expense are recognised in the year that the goods or service are received/used.

In accordance with Charities SORP (FRS 102), the value of the amount of time given by volunteers has not been quantified in the accounts.

(m) Legal status and share capital

Sinfonietta Productions Limited is a registered charitable company limited by guarantee. The Memorandum of Association restricts the liability of members on winding up to £1 unless their liability becomes unlimited through contravention of the Memorandum. In the case of winding up none of the accumulated funds are distributable to the members but shall be given or transferred to some other charitable institution having similar objectives.

(n) Creditors

Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount.

(o) Government Grants

Government grants in these accounts are recognised on an accrual model and classified as grants relating to revenue.

28

Sinfonietta Productions Limited (a company limited by guarantee)

Notes to the Accounts for the year ended 30 September 2023

2. Critical accounting judgements and estimates

In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the Charity’s accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

3. Donations

Year to 30 September 2023
Arts Council England
Trusts and Foundations
Donations and Individual Giving
Total
Year to 30 September 2022
Arts Council England
Trusts and Foundations
Donations and Individual Giving
Total		 Unrestricted
2023
£
404,378
58,415
48,609		 Restricted
2023
£
52,135
244,210
16,080
312,425
Restricted
2022
£
-
225,078
23,317
248,395		 Total
2023
£
456,513
302,625
64,689
511,402 823,827
Unrestricted
2022
£
508,757
50,418
31,641
590,816		 Total
2022
£
508,757
275,496
54,958
839,211

4. Income from charitable activities

Own/co-promotions (UK)
Engagements (UK)
Engagements (Overseas)
Participation and Learning
Composer Commissions and New Work
Digital projects
Total
Other income
Other Income
Total		 Total
2023
£
109,191
61,505
69,354
24,099
-
1,900
266,049
Total
2023
£
129,006
129,006		 Total
2022
£
168,064
108,599
-
20,038
1,234
45
297,980
Total
2022
£
127,475
127,475

5. Other income

Other Income includes funds received as a result of Orchestra and Theatre Tax Relief claims.

29

Sinfonietta Productions Limited

(a company limited by guarantee)

Notes to the Accounts for the year ended 30 September 2023

6. Investment income

All investment income arises from interest bearing deposit accounts. Short-term deposits shown on the Balance Sheet are unlisted investments held in a COIF Charities Deposit Fund and available at short notice.

7. Analysis of expenditure

Year to 30 September 2023
Cost of raising funds
Own/co-promotions (UK)
Engagements (UK)
Engagements (Overseas)
Participation & Learning
Composer commissions & new work
Digital projects
Advertising and publicity
Future Project Funds disbursed
Total
Year to 30 September 2022
Cost of raising funds
Own/co-promotions (UK)
Other engagements (UK)
Participation & Learning
Composer commissions & new work
Digital projects
Advertising and publicity
Future Project Funds disbursed
Total		 Staff
Costs
2023
£
53,369
167,659
33,771
41,531
66,290
15,248
2,798
53,940
-
381,237
434,606
Staff
Costs
2022
£
38,134
196,314
78,838
69,963
19,866
1,221
53,940
-
420,142
458,276		 Direct
Costs
2023
£
5,822
242,248
48,795
60,007
95,782
22,032
4,043
47,306
71,193
591,406
597,228
Direct
Costs
2022
£
6,171
270,200
108,510
96,295
27,343
1,680
31,318
117,540
652,886
659,057		 Support
Costs
2023
£
21,950
44,821
9,028
11,103
17,722
4,076
748
14,643
-
102,141
124,091
Support
Costs
2022
£
15,587
38,220
15,349
13,621
3,868
236
11,624
-
82,918
98,505		 Total
2023
£
81,141
454,728
91,594
112,641
179,794
41,356
7,589
115,889
71,193
1,074,784
1,155,925
Total
2022
£
59,892
504,734
202,697
179,879
51,077
3,137
96,882
117,540
1,155,946
1,215,838

Staff Costs and Support Costs are allocated to activities either on an actual basis (where possible) or based on the percentage of total Direct Costs that the activity accounts for in the year.

In 2023 Support Costs includes an unrealised exchange loss of £522 (2022: exchange gain of £6,015).

30

Sinfonietta Productions Limited (a company limited by guarantee)

Notes to the Accounts for the year ended 30 September 2023

8.

Staff costs and employees
Wages and salaries
Social security costs
Pension costs
Other staff related costs
Total		 Total
2023
£
391,098
22,266
12,714
426,078
8,528
434,606		 Total
2022
£
418,694
16,338
13,178
448,210
10,066
458,276

The average number of employees during the year was 12 (2022: 13), which included six full-time and six part-time employees. For 6 months of the year, there were 2 employees on maternity leave. The key management personnel for the year were considered to be the Chief Executive & Artistic Director, the General Manager, the Head of Finance, the Head of Concerts & Production and the Head of Participation & Learning. The total remuneration and pension contributions paid to key management personnel of the Charity were £220,814 (2022: £231,136).

No employee except Andrew Burke, Chief Executive & Artistic Director (see note 11 below) received emoluments in excess of £60,000 in the year.

The pension cost charge represents contributions payable by the Charity to the funds and amounted to £12,714. Contributions totalling £1,715 were payable to the funds at the year end and are included in Creditors.

9. Support costs

Support costs
Rent and equipment leases
Other establishment costs
General office expenses
IT costs and software licenses
Depreciation
Auditors remuneration
Total		 Total
2023
£
32,435
16,346
36,570
29,891
949
7,900
124,091		 Total
2022
£
31,332
15,127
16,062
28,535
949
6,500
98,505

Governance Costs of £49,164 (2022: £42,365) are included in Staff costs and Support costs which include audit fees as shown below. Governance Costs are calculated based on an estimation of staff time and resources required to support the governance function and the actual cost of recruiting new Trustees.

10. Auditors Remuneration

Fees payable to the company’s auditors and associates:

For audit services:
Audit of the company’s financial statements
For other services:
Taxation services
Other services		 Total
Total
2023
2022
£
£
7,900
6,500
3,367
1,950
1,900
-

31

Sinfonietta Productions Limited (a company limited by guarantee)

Notes to the Accounts for the year ended 30 September 2023

11. Transactions with Trustees and Related Parties

Trustees received no remuneration during the period, except as authorised by the Company’s Memorandum & Articles of Association. The Chief Executive & Artistic Director and player members were paid as follows:

Andrew Burke
Timothy Gill
Jonathan Morton
Paul Silverthorne
Total		 Salary
£
73,903
-
-
-
73,903		 Pension
£
3,695
-
-
-
3,695		 Payments as
members of
the orchestra
£
-
5,834
1.552
9,981
17,367		 Total
2023
£
77,598
5,834
1,552
9,981
94,965

The payments made to members of the orchestra represent gross amounts paid during the year and while they were registered as Trustees of the Charity. Reimbursements to other Trustees for expenses during the year amounted to £0 (2022: £0).

During the year £5,478 of donations were received from the Trustees (2022: £3,312). The number of Trustees to whom retirement benefits are accruing is 1 (2022: 1). There were no other related party transactions.

12. Tangible fixed assets

Cost
At 30 September 2022
At 30 September 2023
Depreciation
At 30 September 2022
Charge for the period
At 30 September 2023
Net book value
At 30 September 2023
At 30 September 2022		 Computer
equipment
£
2,905
2,905
2,139
383
2,522
383
766		 Electronic
stage
equipment
£
21,463
21,463
20,334
566
20,900
563
1,129		 Total
£
24,368
24,368
22,473
949
23,422
946
1,895

13. Debtors

Trade debtors
VAT
Prepayments
Accrued income
Tax recoverable
Total		 Total
2023
Total
2022
£
£
61,488
34,618
10,623
7,568
39,586
37,681
31,482
3,060
246,517
118,000
389,696
200,927

32

Sinfonietta Productions Limited (a company limited by guarantee)

Notes to the Accounts for the year ended 30 September 2023

14. Short-term deposits

Short-term deposits are unlisted investments held in a COIF Charities Deposit Fund and available at short notice.

15. Creditors: Amounts falling due within one year

Trade creditors
Taxation and Social Security
Other creditors
Accruals
Deferred income (received in advance)
Total
Movements in deferred income in the year were as follows:
Balance brought forward
Amounts released in the year
Amounts deferred in the year
Balance carried forward		 Total
2023
£
42,184
7,932
9,176
37,202
48,640
145,134
Total
2023
£
4,833
(4,833)
48,640
48,640		 Total
2022
£
71,998
8,744
9,696
36,954
4,833
132,225
Total
2022
£
70,417
(70,417)
4,833
4,833

Any amounts deferred in the year relate to cash received in the year ended 30 September 2023 or a prior year, for expenditure on concerts and projects taking place in a future financial year.

16. Analysis of Charitable Funds

Year to 30 September 2023

Restricted Funds
Future Projects Fund
Unrestricted Funds
Designated Funds
Contingency Reserve
Revenue Reserve
Total*		 Balance at
1 October
2022
£
111,271
171,371
120,000
4,554
407,196		 Net
movement
£
99,404
(42,293)
-
7,447
64,558		 Transfers
between
Funds
£
-
-
5,000
(5,000)
-		 Balance at
30 September
2023
£
210,675
129,078
125,000
7,001
471,754

During the year £55,000 was disbursed from Designated Funds to support Strategic Projects. The remaining balance on Designated Funds allows the Charity to invest in artistic activity planned in 2023-24 and future financial years.

33

Sinfonietta Productions Limited

(a company limited by guarantee)

Notes to the Accounts

for the year ended 30 September 2023

*Designated Fundscomprise:
Balance at 1 October 2022
Net movement
Transfer between funds
Balance at 30 September 2023		 Strategic
Projects
Fund
£
142,848
(42,293)
-
100,555		 Digital
Production
Fund
£
18,523
-
-
18,523		 Future
Office
Fund
£
10,000
-
-
10,000		 Total
Designated
Funds
£
171,371
(42,293)
-
129,078

Year to 30 September 2022

Restricted Funds
Future Projects Fund
Unrestricted Funds
Designated Funds
Contingency Reserve
Revenue Reserve
Total*		 Balance at
1 October
2021
£
156,545
103,156
95,000
3,569
358,270		 Net
movement
£
(45,274)
-
-
94,200
48,926		 Transfers
between
Funds
£
-
68,215
25,000
(93,215)
-		 Balance at
30 September
2022
£
111,271
171,371
120,000
4,554
407,196

Restricted Funds:

Future Projects Fund

The Future Projects Fund relates to funds already raised for projects, such as Commissions, continuing into or commencing during 2023-24 and beyond. The Charity has committed to fund these projects. A deficit on Restricted Funds for the year indicates that funds raised in a prior year have been used for the projects for which they were intended, and have not yet been replaced by funds for future projects.

Unrestricted Funds:

Designated Funds

The Strategic Projects Fund relates to funds set aside to support strategic projects in future financial periods.

The Digital Production Fund relates to funds set aside to support digital production and audience engagement, including CD releases, audio and film projects and other digital projects.

The Future Office Fund relates to funds set aside to allow the organisation to identify and set up new office premises in the medium-term future.

Contingency Reserve

The Contingency Reserve represents funds held to provide for unforeseen liabilities that may arise.

Revenue Reserve

The Revenue Reserve represents the balance carried forward on the Statement of Financial Activities and consists of funds available for use by the organisation to contribute towards its ongoing future artistic activity.

34

Sinfonietta Productions Limited

(a company limited by guarantee)

Notes to the Accounts for the year ended 30 September 2023

17. Analysis of Net Assets between Funds

As at 30 September 2023
Tangible fixed assets
Debtors
Short term deposits
Cash at bank and in hand
Creditors falling due within one year
Total Net Assets		 Unrestricted Funds
General
Designated
£
£
946
-
60,064
80,922
-
-
128,298
48,156
(57,307)
-
132,001
129,078		 Restricted
Funds
£
-
248,710
4,161
45,631
(87,827)
210,675		 Total
2023
£
946
389,696
4,161
222,085
(145,134)
471,754
As at 30 September 2022
Tangible fixed assets
Debtors
Short term deposits
Cash at bank and in hand
Creditors falling due within one year
Total Net Assets		 Unrestricted Funds
General
Designated
£
£
1,895
-
158,814
-
-
-
22,999
171,371
(59,154)
-
124,554
171,371		 Restricted
Funds
£
-
42,113
33,032
109,197
(73,071)
111,271		 Total
2022
£
1,895
200,927
33,032
303,567
(132,225)
407,196

18. Government Grants

Income from government grants comprises regular core funding from Arts Council England of £404,378 (2022: £508,757) as a National Portfolio Organisation and a grant of £52,135 under the Transform One programme (see Note 3). The regular funding from Arts Council England is to support the organisation and its artistic work across all areas. The Transform One grant received during the period was to support the organisation during the period April to July 2023 following the reduction of its core funding in April 2023.

19. Company Information

Sinfonietta Productions Limited is a company limited by guarantee incorporated in England and Wales. The registered office and principal place of business is Kings Place, 90 York Way, London, N1 9AG.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

35