2024-07-31-accounts

THE BACH CHOIR Annual report and financial statements Year ended 31 July 2024 THF. R.,ILH LHC)IK Annual report and finan￿al statements Year ended 31 July 2024

Contents

Item	Page
General information	3
Trustees’ Report	4
Statement of Trustees’ Responsibilities	8
Independent examiner’s statement	9
Statement of financial activities	10
Balance sheet	11
Notes to the financial statements	12

Annual report and financial statements Year ended 31 July 2024

2

General information

Patron HM The King President Sir John Rutter, CBE Vice-Presidents Dame Janet Baker, CH, DBE Sam Gordon Clark, CBE Dame Felicity Lott, DBE Harry Gregson-Williams (from 9[th] June 2024)

Board of Trustees

Chair Katharine Richman Vice Chair Stephen Hargreaves Music Director David Hill, MBE Honorary Treasurer Thomas O’Reilly External Trustees Richard Blackford Jo Whitehead (from 8[th] April 2024) Elected Members Julien Allen Alexander Churchill Jim Clifford, OBE Jenny Clarke Lily German ‘Desola Haastrup Stephen Hargreaves Jill Pringle Leona Roberts Naomi Wordsworth Secretary to the Board Harriet Creamer

Organisational information

Administrator Rose Wenninck [e-mail] Registered Address The Bach Choir, PO Box 61756, London SW1H 0UZ Honorary Independent Dixon Wilson Examiners 22 Chancery Lane, London WC2A 1LS Bankers C Hoare & Co, 37 Fleet Street, London, EC4P 4DO Charitable status The Bach Choir is an unincorporated charity, governed by its rules, registered in England & Wales as charity number 258287

Annual report and financial statements Year ended 31 July 2024

3

Trustees’ report

Objectives and activities

As one of the world’s leading choruses, The Bach Choir’s aim is to inspire people of all ages and backgrounds with the magnificence, beauty and emotional power of choral music, through the excellence of its performances, recordings and through community engagement and inclusion.

Reference and Administrative information

Reference and administrative information is set out on the previous page and forms part of this report. The financial statements comply with current statutory requirements and have been prepared in accordance with FRS 102.

Structure, Governance, and Management

The Bach Choir is governed by rules agreed by its Singing and Associate Members, the latter group comprising certain former Singing Members of the Choir. Overall direction is in the hands of the Board of Trustees. The Chair, Musical Director and Treasurer are appointed annually by the elected members of the Board of Trustees, who are, in turn, elected by the Singing Members and those Associate Members who have recently been Singing Members of the Choir.

The Choir’s musical direction is the responsibility of the Musical Director, while its administration is the responsibility of the Working Group. Both report to the Board of Trustees, which meets about five times a year. Board members are made aware of their responsibilities, as trustees of the Choir, upon election.

The Bach Choir is an independent organisation and, whilst it values its connections with other arts organisations and grant-making organisations, there are no related charities.

With effect from 1[st] August 2024, the Choir converted its legal status from an unincorporated charity to a Charitable Incorporated Organisation, and effected a transfer of all assets, liabilities, and operations to a new legal entity (registered charity 1207346). This annual report relates to the Bach Choir’s legacy entity (registered charity 258287). From the 1[st] August 2024 onwards, the Choir’s operating entity is The Bach Choir, registered charity 1207346. The legacy entity will remain dormant and known as The Bach Choir 1876-2024.

Review of Season

The Bach Choir undertook a full programme of concerts and other engagements during the season. Support was secured for the Choir’s student bursary scheme in the sum of £3,000 (2023 £8,000). Grants and donations in the sum of £24,800 (2023 £19,500) were recognised this year for the Choir’s Community Engagement Programme.

Annual report and financial statements Year ended 31 July 2024

4

Trustees’ report (continued)

Live performance

The Choir promoted five concerts during the 2023-24 season, three in the Royal Festival Hall, one in the Cadogan Hall, and one in Grand Junction. The Choir also undertook a number of engagements.

The Season began with an engagement to sing Orff’s Carmina Burana at the RAH, with a number of other choruses, conducted by David Hill. The first major concert was a programme of music by Brahms and Amy Beach in a concert co-promoted with the Philharmonia Orchestra. Engagements followed at the Royal British Legion Festival of Remembrance, and with the Choir’s President Sir John Rutter in St Paul’s Cathedral. The Choir took part in four Christmas concerts, three conducted by our President, Sir John Rutter, and the annual Cadogan Hall performance, promoted by the Choir, which was sold out.

A much-postponed 75th birthday celebration concert for John Rutter took place in St George’s Chapel, Windsor in February 2024. Two further concerts, one co-promoted with the Philharmonia Orchestra, were given in the Royal Festival Hall: the annual St Matthew Passion , and a concert which paired Elgar’s The Dream of Gerontius with a new work, Cusp , commissioned by The Bach Choir from Roderick Williams and funded by a group of its members. At the invitation of Daniel Hyde and King’s College, Cambridge, the Choir performed Stanford’s Stabat Mater on Good Friday 2024 in a concert which was broadcast live on BBC Radio 3. To conclude the season, some 80 members of the Choir travelled to Boston, Lincolnshire, to give a concert of choral classics for Choir and organ in St Botolph’s Church, conducted by David Hill.

Recording and broadcasting

The power of recording and broadcasting as a promotional tool cannot be underestimated. Not only does it help keep The Bach Choir brand in public view but – in the case of broadcasting particularly – it helps further our charitable objective of reaching new audiences who might not otherwise experience the richness of choral music. However, studio recordings are very costly and there were no such projects in the 2023-24 season.

The Choir was once again part of the annual Royal British Legion Festival of Remembrance which was broadcast on BBC Television in November 2023.

Plans to make a video recording of the Choir’s St Matthew Passion performance in the Royal Festival Hall were postponed due to the very high costs of the project.

The Choir was engaged to sing in a session at Abbey Road Studios working on the soundtrack for the motion picture “Gladiator II” at the invitation of composer Harry Gregson-Williams, and we are delighted that Harry has now agreed to join the Choir’s illustrious group of Vice Presidents.

Community Engagement

The Bach Choir is committed to spreading the joy of choral music to diverse audiences and particularly to those who might not otherwise have exposure to it.

A performance in Grand Junction, concluded the Choir’s Vocalise! programme for the year, during which workshops were delivered to children from three schools.

One ‘in person’ Come and Sing Day was promoted by the Choir in St Gabriel’s Church Pimlico. Attendance was good, with the day raising £1,400 for the Choir.

Annual report and financial statements Year ended 31 July 2024

5

Trustees’ report (continued)

Staffing

Three staff were employed by The Bach Choir during the 2023-24 season. Maria Sayers worked as fulltime Administrator, supporting the Chair and other trustees, as well as the auditions process, and preparing applications to Trusts and Foundations to support our Community Engagement and Student Bursary funds, work which has yielded some positive results. Joseph Hookway, who worked for 40 hours per month on our Community Engagement programme, left us in March 2024 and we welcomed Josie Cowley as Community Engagement Coordinator from April 2024. Joe Garvey continued to work three days per week as Digital Marketing Manager.

The financial picture

The board approved an increase to subscription rates of 5% for the 2023-24 season. Subscription income from Singing Members, Associate Members, Friends, and long-term absent members rose to £94,818 (2023 – £87,778). We are very grateful to our Friends and Associate Members for their continued support. It remains our belief that no-one should be prevented from singing with the Choir on financial grounds alone, and we are continuously seeking to expand our student membership bursary scheme.

Finally, we place on record our special gratitude to Dixon Wilson for conducting an independent examination of our statutory accounts without fee and for making their immense experience and knowledge available to us.

Reserves

The Choir continues to maintain a healthy level of reserves, with investments of £420,806 and net current assets of £290,986. Nonetheless we continue to review the higher risks involved in promoting our own concerts in what remains an uncertain future and our increasing commitment to marketing and publicity that aims to attract a wider and more diverse audience. The board is particularly cognisant of inflationary pressures increasing the costs of the Choir’s core activities in the coming years.

Funds on 31 July 2024 were £713,613 (2023: £675,242) of which £626,395 (2023: £591,176) represents expendable funds and £44,389 (2023: £45,100) is restricted. The balance of £42,829 (2023: £38,966) is endowed. Expendable funds consist of unrestricted reserves of £110,207 (2023: £80,640) and designated funds of £516,188 (2023: £510,536). With expendable funds, the Donations fund is designated to be used to support loss-making own-promoted concerts and recordings, the Touring fund to be used to support future tours, and the Friends’ fund to support other choir initiatives.

Historically, the Choir’s budgeted costs have generally exceeded anticipated revenues, and it relies on charitable donations and sponsorship to bridge this gap. Reserves are required to cover the Choir’s liabilities in the event that such donations and sponsorship are insufficient to cover this gap, and to enable it to plan its future activities, normally up to two years ahead. Reserves are also required by way of contingency to cover the financial impact of unexpected events outside the Choir’s control that might seriously impact the Choir’s revenues, for example the short notice cancellation of concerts as experienced during the COVID-19 pandemic. During the year, the trustees reviewed the choir’s reserves policy. The review concluded the choir should maintain minimum reserves to cover two years of poor operational and financial performance; such a period being deemed sufficient for the choir to alter its commitments to return to a break-even position. As at 31[st] July 2024, this amount was set at £250,000, though given the current level of reserves, the trustees would seek to take action long before reserves fell to this level.

In addition to unrestricted reserves at the year-end of £110,207, the Trustees are also able to use designated funds of £516,188 to meet future general expenditure and on this basis the financial position at the year-end is considered to be adequate.

Annual report and financial statements Year ended 31 July 2024

6

Trustees’ report (continued)

Future plans

The Choir has planned a full programme of concerts and other events in the 2024-25 season. These include six concerts promoted by the Choir, of which one is co-promoted with the Philharmonia Orchestra. The Choir will also promote two Come and Sing Days in St Gabriel’s Pimlico, one conducted by our President, Sir John Rutter.

Promoted concerts are complemented by seven engagements to perform for others including the Royal Philharmonic Orchestra and Raymond Gubbay Ltd.

Looking further ahead, planning for our 150th anniversary season 2025-26 is almost complete. The season will open with a performance of Mahler’s Symphony No 8 in St Paul’s Cathedral and will end with an anniversary performance of Bach’s Mass in B minor.

Public benefit

The trustees have reviewed the public benefit nature of the organisation and consider that it fulfils the requirements of the Charities Act 20II. In particular, the Choir:

• educates and inspires its audiences at concerts and through recordings;

• promotes access for all by performing in a range of geographical locations, ensuring where possible that tickets are available at a range of prices with discounts for students and the unwaged. Free tickets for under-16s are offered at the Choir's own promoted concerts;

• is active in developing the art of choral music, both by commissioning new works and undertaking the first public performance or recording of new works;

• seeks to maintain the public performance of large-scale choral works by promoting its own concerts;

• seeks improvement in standards of public performance of choral works through the impact of its Musical Director; and

• seeks to bring music to new audiences and singers, through its active work on Diversity and Inclusion, its Community Engagement activities in schools and dementia care homes, its Come and Sing days, both in person and online, its open rehearsals, and by touring in the UK and overseas when possible.

Katharine Richman

Chair

On behalf of the Board of Trustees of The Bach Choir

8[th] January 2025

Annual report and financial statements Year ended 31 July 2024

7

Statement of Trustees’ responsibilities

Trustees’ responsibilities in relation to the financial statements

The trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities Statement of Recommended Practice (SORP);

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Annual report and financial statements Year ended 31 July 2024

8

Independent examiner’s statement

Independent examiner’s report to the trustees of The Bach Choir (‘the Charity’)

I report to the trustees on my examination of the accounts of the Charity for the year ended 31 July 2024.

Responsibilities and basis of report

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You are satisfied that an audit is not required for this year under charity law and that an independent examination is needed.

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

S J Wakefield ACA Dixon Wilson 22 Chancery Lane London WC2A 1LS 8 January 2025

9

Statement of Financial Activities

Year ended 31[st] July 2024

												Community	Community
							Donations					Engagement		Student	Bursary		Poynter Stock
		General Fund		Friends Fund			Fund			Touring Fund		Vocalise! Fund		Fund		Recording	Legacy	Total		Total
	Note	(unrestricted)		(designated)			(designated)			(designated)		(restricted)		(restricted)		(restricted)	(endowmnent)		31-Jul-24		31-Jul-23
			£			£			£		£		£		£	£	£		£		£
Income and endowments from:
Donations and legacies
Subscriptions	6 4		94,818			-			-		-		-		-	-	-		94,818		87,778
Friends' donations	7		-		1,296				-		-		-		-	-	-		1,296		2,215
Grants	11		-			-			-		-		-		3,000	-	-		3,000		8,000
Donations and legacies	11 8		-			-		40,090			-		24,800		-	-	-		64,890		49,444
Donations in kind	21 16		3,500			-			-		-		-		-	-	-		3,500		2,750
Investments	9 6		19,286			-			-		-		-		-	-	-		19,286		13,122
Charitable activities
Concert income	4		204,359			-			-		-		-		-	-	-		204,359		184,376
Choral fees, recording and
broadcasts	5		38,096			-			-		-		-		-	-	-		38,096		47,668
Other income
Friends' subscriptions	7		-		5,830				-		-		-		-	-	-		5,830		5,525
Miscellaneous income	8 5	(	3,341 )			-			-		-		-		-	-	-	(	3,341 )		9,640
Fundraising gala			-			-			-		-		-		-	-	-		-		48,652
Total income and endowments			356,718		7,126			40,090			-		24,800		3,000	-	-		431,734		459,170
Expenditure on:
Raising funds
Advertising and publicity	10 7	(	21,094 )			-			-		-		-		-	-	-	(	21,094 )	(	27,964 )
Friends costs	7		-	(	1,474 )				-		-		-		-	-	-	(	1,474 )	(	1,834 )
Charitable activities
Concerts	4	(	189,283 )			-	(	25,010 )			-	(	9,414 )		-	-	-	(	223,707 )	(	210,570 )
Choral fees, recordings and
broadcasts	5	(	5,580 )			-			-		-		-		-	-	-	(	5,580 )	(	7,590 )
Outreach costs	10 7		-			-			-		-	(	16,097 )		-	-	-	(	16,097 )	(	13,731 )
Commissions		(	61 )			-	(	15,080 )			-		-		-	-	-	(	15,141 )		-
Other musical costs	10 7	(	66,865 )			-			-		-		-	(	11,334 )	-	-	(	78,199 )	(	73,317 )
Charity administration	10 7		-			-			-		-		-		-	-	-		-		-
Pro-bono IE fees	21	(	3,500 )			-			-		-		-		-	-	-	(	3,500 )	(	2,750 )
Other expenditure	10 7
Other direct costs		(	54,937 )			-			-		-		-		-	-	-	(	54,937 )	(	62,201 )
Total expenditure		(	341,320 )	(	1,474 )		(	40,090 )			-	(	25,511 )	(	11,334 )	-	-	(	419,729 )	(	399,957 )
Net gains / (losses) on investments
Unrealised	12 9		28,283			-			-		-		-		-	-	3,863		32,146	(	2,657 )
Gains/(losses) on
revaluation of heritage
assets	14 11	(	5,780 )			-			-		-		-		-	-	-	(	5,780 )	(	8,122 )
Net movement on investments
and heritage assets			22,503			-			-		-		-		-	-	3,863		26,366	(	10,779 )
Net income/(expenditure)			37,901		5,652				-		-	(	711 )	(	8,334 )	-	3,863		38,371		48,434
Transfer to fund deficit on
student bursaryfund		(	8,334 )			-			-		-		-		8,334	-	-		-		-
Transfers betweeen funds		(	8,334 )			-			-		-		-		8,334	-	-		-		-
Net movement in funds			29,567		5,652				-		-	(	711 )		-	-	3,863		38,371		48,434
Balances brought forward at 1
Aug 2023			80,640		136,929			363,495		10,112			11,490		-	33,610	38,966		675,242		626,808
Balances carried forward at 1
Aug 2024			110,207		142,581			363,495		10,112			10,779		-	33,610	42,829		713,613		675,242

The above movements fully reflect the total recognised gains and losses incurred within each fund. All of the activities of The Bach Choir are continuing. There is no material difference between the net movement in the General Fund for the year, as stated above, and its historical cost equivalent. The notes on pages 12 to 20 form part of these financial statements.

Annual report and financial statements Year ended 31 July 2024

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Balance sheet

As at 31st July Note 2024 2023	As at 31st July Note 2024 2023
£ £ £ Fixed assets Tangible assets 13 1,338 2,047 Heritage assets 14 482 7,423 Investments 15 420,806 388,660 10 11 12		£
Total fixed assets 422,626 Current assets Stocks 16 657 178 Debtors 17 3,315 57,123 Cash at bank and in hand 18 311,684 305,156 13 14		398,130
Total current assets 315,656 Creditors Amounts falling due within one year 19 24,670 ) ( ( 85,345 ) Net current assets 290,986 15		362,457 277,112
Net assets	713,613	675,242
Accumulated funds Unrestricted funds General fund 110,207 Total unrestricted funds Designated funds Donations fund 11 363,495 Friends fund 7 142,581 Touring fund 10,112 Total designated funds 8	80,640 110,207 363,495 136,929 10,112 516,188	80,640 510,536
Total unrestricted and designated funds Restricted funds Community Engagement fund 10,779 Student bursary fund - Recording fund 33,610 Total restricted funds Endowment funds Poynter stock legacy	626,395 11,490 - 33,610 44,389 42,829	591,176 45,100 38,966
Total	713,613	675,242

The notes on pages 12 to 20 form part of these financial statements.

The financial statements were approved on behalf of the Board of Trustees by

Katharine Richman Thomas O’Reilly Chair Hon. Treasurer 8[th] January 2025 8[th] January 2025

Annual report and financial statements Year ended 31 July 2024

11

Notes to the financial statements

1. Accounting policies

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments, and are in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective from 1 January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The Bach Choir is an unincorporated charity, governed by its rules, registered in England and Wales as charity number 258287.

The financial statements are presented in sterling and rounded to the nearest £.

Tangible fixed assets

Fixed assets are stated at their purchase price, together with any incidental expenses of acquisition. Provision for depreciation is made so as to write off the cost of tangible fixed assets on a straight line basis over the expected useful economic life of the assets concerned. The principal annual rates used for this purpose are: Musical instruments - 20% Office and computer equipment - 25%

Heritage assets

Heritage assets are valued each year and are included in the accounts at the trustees’ assessment of their market value, based on income yields.

Investments

Investments are stated at market value in the balance sheet with realised and unrealised gains and losses being accounted for in the statement of financial activities. Market value is determined as the quoted price in an active market.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Annual report and financial statements Year ended 31 July 2024

12

Notes to the financial statements

1. Accounting policies (cont.)

Deferred income

In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. Payments received relating to the following accounting year such as concert tickets are also deferred.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Stocks

Stocks are stated at the lower of cost and net realisable value.

Income and expenditure

Income is credited and expenditure is charged to the revenue account on an accruals basis, with the exception of donation and legacy income. Donation and grant income is recognised when the charity becomes entitled and there are no conditions attached to it. Legacy income is accounted for on a receivable basis, where the amount can be reliably ascertained. No attempt is made to put a monetary value on volunteer activities.

Donations in kind

Donations in kind represent the cost of donated services received during the year valued at the price which the charity would pay in the open market.

Allocation of expenses

Costs of generating funds comprise the costs associated with attracting voluntary income.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Funds

Unrestricted funds are held to cover the charity against the continued financing of activities. Some of the unrestricted funds are “designated funds”, set aside by the trustees to be used for particular purposes. Restricted funds represent sums given to the charity subject to restrictions as to how the funds can be used. Endowment funds represent sums given to the charity subject to the restriction that they are held as capital.

Annual report and financial statements Year ended 31 July 2024

13

Notes to the financial statements

2. Statement of Financial Activities for year ended 31 July 2023

												Community	Community
							Donations					Engagement		Student	Bursary		Poynter Stock
		General Fund		Friends Fund			Fund			Touring Fund		Vocalise! Fund		Fund		Recording	Legacy	Total		Total
	Note	(unrestricted)		(designated)			(designated)			(designated)		(restricted)		(restricted)		(restricted)	(endowmnent)		31-Jul-23		31-Jul-22
			£			£			£		£		£		£	£	£		£		£
Income and endowments from:
Donations and legacies
Subscriptions	6 4		87,778			-			-		-		-		-	-	-		87,778		79,703
Friends' donations	7		-		2,215				-		-		-		-	-	-		2,215		2,413
Grants	11		-			-			-		-		-		8,000	-	-		8,000		3,288
Donations and legacies	11 8		-			-		29,794			-		19,500		-	150	-		49,444		99,132
Donations in kind	21 16		2,750			-			-		-		-		-	-	-		2,750		10,000
Investments	9 6		13,122			-			-		-		-		-	-	-		13,122		11,390
Charitable activities
Concert income	4		184,290			-			-		-		86		-	-	-		184,376		161,479
Choral fees, recordings, and
broadcasts	5		47,668			-			-		-		-		-	-	-		47,668		62,312
Other income
Friends' subscriptions	7		-		5,525				-		-		-		-	-	-		5,525		5,203
Miscellaneous income	8 5		9,640			-			-		-		-		-	-	-		9,640		2,517
Fundraising gala			48,652			-			-		-		-		-	-	-		48,652		-
Total income and endowments			393,900		7,740			29,794			-		19,586		8,000	150	-		459,170		437,437
Expenditure on:
Raising funds
Advertising and publicity	10 7	(	27,964 )			-			-		-		-		-	-	-	(	27,964 )	(	38,699 )
Friends costs	7		-	(	1,834 )				-		-		-		-	-	-	(	1,834 )	(	5,225 )
Charitable activities
Concerts	4	(	165,564 )			-	(	38,141 )			-	(	6,865 )		-	-	-	(	210,570 )	(	160,148 )
Choral fees, recordings and
broadcasts	5		1,025			-	(	8,615 )			-		-		-	-	-	(	7,590 )	(	50,568 )
Community Engagement	10 7					-			-		-	(	13,731 )		-	-	-	(	13,731 )	(	23,180 )
Other musical costs	10 7	(	61,568 )			-			-		-		-	(	11,749 )	-	-	(	73,317 )	(	57,974 )
Charity administration	10 7					-			-		-		-		-	-	-		-		-
Pro-bono IE/audit fees	21	(	2,750 )			-			-		-		-		-	-	-	(	2,750 )	(	10,000 )
Other expenditure	10 7
Other direct costs		(	62,201 )			-			-		-		-		-	-	-	(	62,201 )	(	57,797 )
Total expenditure		(	319,022 )	(	1,834 )		(	46,756 )			-	(	20,596 )	(	11,749 )	-	-	(	399,957 )	(	403,591 )
Net gains / (losses) on investments
Unrealised	12 9	(	3,468 )			-			-		-		-		-	-	811	(	2,657 )	(	15,544 )
Gains/(losses) on
revaluation of heritage
assets	14 11	(	8,122 )			-			-		-		-		-	-	-	(	8,122 )	(	2,561 )
Net movement on investments
and heritage assets		(	11,590 )			-			-		-		-		-	-	811	(	10,779 )	(	18,105 )
Net income/(expenditure)			63,288		5,906		(	16,962 )			-	(	1,010 )	(	3,749 )	150	811		48,434		15,741
Transfer to fund deficit on
student bursary fund		(	3,749 )			-			-		-		-		3,749	-	-		-		-
Transfer of £10,000 Gala funds
to donations fund for future
commissions		(	10,000 )			-		10,000			-		-		-	-	-		-		-
Transfer of £10,000 Gala funds
to community engagement
fund		(	10,000 )			-			-		-		10,000		-	-	-		-		-
Transfer of £10,000 Gala funds
to recordings fund		(	10,000 )			-			-		-		-		-	10,000	-		-		-
Transfers betweeen funds		(	33,749 )			-		10,000			-		10,000		3,749	10,000	-		-		-
Net movement in funds			29,539		5,906		(	6,962 )			-		8,990		-	10,150	811		48,434		15,741
Balances brought forward at 1
Aug 2022			51,101		131,023			370,457		10,112			2,500		-	23,460	38,155		626,808		611,067
Balances carried forward at 1
Aug 2023			80,640		136,929			363,495		10,112			11,490		-	33,610	38,966		675,242		626,808

Annual report and financial statements Year ended 31 July 2024

14

Notes to the financial statements

3. Analysis of net assets between funds

Fund balances at 31 July 2024 are represented by	Unrestricted	Designated	Restricted	Endowment	Total 2024	Total 2023
	£	£	£	£	£	£
Stocks	657	-	-	-	657	178
Debtors	3,315	-	-	-	3,315	57,123
Cash at bank and in hand	-	276,295	44,389	-	311,684	305,156
Creditors	(24,670)			-	( 24,670)	( 85,345)
Sub-total	( 20,698 )	276,295	44,389	-	290,986	277,111
Tangible assets	1,338	-	-	-	1,338	2,047
Heritage assets	482	-	-	-	482	7,423
Investments	129,085	248,983	-	42,829	420,807	388,660
Total	110,207	516,188	44,389	42,829	713,613	675,242

4. Subscriptions

	2024	2023
	£	£
Singing members	69,423	64,630
Tax rebates thereon	20,475	18,645
Associate members	4,920	4,503
Other subscriptions	-	-
Total	94,818	87,778

5. Miscellaneous income

		2024		2023	2023
		£		£
Regular
Merchandising		828	(	208)
Library	(	4,571)	(	160)
Regular fund raising		334		725
Sundryincome		38		9,283
Total regular		(3,341)		9,640
Irregular
Fundraising Gala		-		48,652

NB Miscellaneous income items shown net of direct expenses incurred in generating the income

6. Investment income

2024 2023	2024 2023	2024 2023	2024 2023	2024 2023
Bank interest			£ 7,551	£ 1,716
Other investment income			11,735	11,406
Total			19,286	13,122

Annual report and financial statements Year ended 31 July 2024

15

Notes to the financial statements

7. General expenditure

2024 2023	2024 2023	2024 2023
Musical costs other than direct costs of concerts,recordings,and tours	£ 78,199	£ 73,317
Advertising, publicity, and website	19,429	25,297
Fundraising expenditure - - 1876 Society hospitality 1,665 2,667 Community engagement expenditure 16,097 13,731 Other direct costs includingadministrator salary 54,937 62,201
Totalgeneral expenditure 170,327 177,213

(a) The following fees for musical services were paid to Board members:

	2024	2023
	£	£
Music director	47,882	55,922
Other board members	-	-
Entities with connected relatives*	-	450
Total	47,882	56,372
Of these fees:
Amount included in Musical costs above	47,182	53,922
AmountincludedinCommunity engagement costs	-	-
Amountincludedinchoral fees,recordings and broadcasts	700	1,500
Amountincludedinevents promoted byTBC	-	500
Amountincludedinadvertising and publicity	-	450
Total	47,882	56,372

(b) The average number of persons employed by the Choir in the year was 3 (2023 – 3). No employee was paid at the rate of £60,000 or more per year in this year or the prior year.

(c) Other direct costs include out of pocket expenses reimbursed to trustees in respect of travel costs £0 (2023- £39).

(d) Included in Community Engagement and other direct costs are wages and salaries amounting to £57,158 (2023 - £52,302), employers’ national insurance contributions amounting to £4,150 (2023 - £3,849) and contributions to defined contribution pension funds for employees of £1,073 (2023 - £718), less £4,150 (2023 - £3,849) claimed from Employer’s National Insurance Allowance.

(e) 1876 Society: Expenses accumulated since 2018: £7,288 (net of non-legacy donations of £2,965). Total value of legacies received since 2018: £3,000.

Annual report and financial statements Year ended 31 July 2024

16

Notes to the financial statements

8. Donations

Included in donation income is £4,925 (2023 - £8,989) of donations by trustees of the Choir

9. Gains on investments

Unrestricted and designated funds Restricted Fund: Poynter Total	Unrestricted and designated funds Restricted Fund: Poynter Total	Unrestricted and designated funds Restricted Fund: Poynter Total	Unrestricted and designated funds Restricted Fund: Poynter Total	Unrestricted and designated funds Restricted Fund: Poynter Total	Unrestricted and designated funds Restricted Fund: Poynter Total
		£	£		£
Realised		-	-		-
Unrealised		28,283	3,863		32,146
Gains on revaluation of investments		28,283	3,863		32,146

10. Tangible Fixed Assets

			Office and computer
		Musical instruments	equipment	Total
		£	£		£
Cost
At 1 August	2023	11,847	7,268		19,115
Additions		-	529		529
Disposals		(11,847)	-		(11,847)
at 31 July	2024	-	7,797		7,797
Depreciation
At 1 August	2023	11,847	5,221		17,068
Charge for the year		-	1,238		1,238
Disposals		(11,847)	-		(11,847)
at 31 July	2024	-	6,459		6,459
Net book value
at31 July	2024	-	1,338		1,338
at 31 July	2023	-	2,047		2,047

Annual report and financial statements Year ended 31 July 2024

17

Notes to the financial statements

11. Heritage assets

			£
Market value at 1 August	2023		7,423
Additions			4,144
Disposals		(	5,305)
Revaluation		(	5,780)
Market value at 1 August	2024		482

During the year the Trustees performed an assessment of the market value of sheet music held by the charity. This has been included in the accounts at the deemed market value as at the balance sheet date, based on the income the charity receives during the latest 5-year period for hiring out these assets.

During the course of its activities, the Choir acquires new music which is added to its collection. Records are kept by the Choir librarians and the music is stored in locked metal cabinets, with access permitted only by the librarians. From time to time, music is hired out to other choirs, with an undertaking that it is to be returned clean. The hirer is expected to cover the replacement cost of any unreturned music.

The table below shows historic information concerning acquisitions and disposals of sheet music.

	2023	2022	2021	2020	2019
	£	£	£	£	£
Purchases and additions	4,734	4,971	504	3,325	7,153
Disposals at cost	4,019	4,633	430	3,528	5,074
Proceeds from disposal to members	(4,019)	(4,633)	(430)	(3,528)	(5,074)
Revaluation to market value	(8,122)	(2,561)	(6,928)	(1,537)	(2,568)

The choir did not generate income in 2022/23 from hiring out sheet music. Following the appointment of a new volunteer, this service resumed in 23/24, with reduced activity. The asset valuation is based on the average income of the preceding latest five year period, resulting in a revaluation of (£5,780) recognised in the financial year.

12. Investments

	Main fund	Poynter stock legacy fund	Total
Analysis of listed investments	£	£	£
Market value at 1 August 2023	349,694	38,966	388,660
Disposals at carrying value	-	-	-
Additions at cost	-	-	-
Net gainon revaluation	28,283	3,863	32,146
Market value at 31 July 2024	377,977	42,829	420,806

The market values are those at the close of business on 31 July 2024.

13. Stocks

CDs and souvenirs

	2024	2023
	£	£
	657	178

Annual report and financial statements Year ended 31 July 2024

18

Notes to the financial statements

14. Debtors

	2024	2023
	£	£
Prepayments	3,303	4,255
Accrued income	-	-
VAT recoverable	-	-
Other debtors	12	52,868
Total	3,315	57,123

15. Creditors: Amounts falling due within one year

	2024	2023
	£	£
Trade creditors	5,746	56,703
Accruals	-	1,826
VAT payable	2,279	3,280
Deferred income	16,645	23,536
Total	24,670	85,345

16. Donations in kind

	2024	2023
	£	£
Pro bono independent examination fees	3,500	2,750

Annual report and financial statements Year ended 31 July 2024

19

Notes to the financial statements

17. Analysis of charitable funds

					Gains and	Carried
2024	Balance brought forward	Income	Expenditure	Transfers	losses	forward
	£	£	£	£	£	£
Unrestricted fund	80,640	356,718	( 341,320 )	( 8,334 )	22,503	110,207
Designated funds	510,536	47,216	( 41,564 )	-	-	516,188
Restricted funds	45,100	27,800	( 36,845 )	8,334	-	44,389
Endowment fund	38,966	-	-	-	3,863	42,829
Total	675,242	431,734	( 419,729 )	-	26,366	713,613

					Gains and	Carried
2023	Balance brought forward	Income	Expenditure	Transfers	losses	forward
	£	£	£	£	£	£
Unrestricted fund	51,101	393,900	( 319,022 )	( 33,749 )	( 11,590 )	80,640
Designated funds	511,592	37,534	( 48,590 )	10,000	-	510,536
Restricted funds	25,960	27,736	( 32,245 )	23,749	-	45,100
Endowment fund	38,155	-	-	-	811	38,966
Total	626,808	459,170	( 399,957 )	-	( 10,779 )	675,242

The Poynter Stock legacy fund (endowment) represents stocks donated to the choir. The Trustees have the power to spend the unrestricted income generated by this fund.

Restricted funds include the Community Engagement fund, the Student bursary fund and the Recording fund. The Community Engagement fund is only available to be spent on the Choir’s Community Engagement programme (including Vocalise!). The Student bursary fund is used to offer student singers a discounted membership fee.

Designated funds include amounts provided by The Bach Choir Friends for supporting particular projects, amounts donated to help cover the losses incurred on the Choir’s own-promoted activities and amounts to be used to cover touring costs.

At the year end, at the year end, transfers of £8,334 (2023 - £3,749) were made from unrestricted funds to cover the deficit on restricted funds.

18. Events after the end of the reporting period

With effect from 1st August 2024, the Choir converted its legal status from an unincorporated charity to a Charitable Incorporated Organisation, and effected a transfer of all assets, liabilities, and operations to a new legal entity (registered charity 1207346). This annual report relates to the Bach Choir’s legacy entity (registered charity 258287). From the 1st August 2024 onwards, the Choir’s operating entity is The Bach Choir, registered charity 1207346. The legacy entity will remain dormant and known as The Bach Choir 1876-2024.

20