DocuSvJn En¥elope ID". 30BISQEE-8C6F423M1599F1A23D70414 REGISTEREO COMPANY NUMBER: 01193919 (Erbgland and Wale$l REGISTERED CHARITY NUMBER: 269184 REPORT OF THE TRUSTEES AMD UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 LONDON HANOEL socieTY UED Chartered Acowntsnts Cenirurn House 36 Station Road Egham 20 9LF 'ABD5JIIE* 2310912022 COMPANIES HOUSE A25
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Oocu&gn Envel¢pe10". 3oB150EE-B06F42315&9FlM2J0704I4 LONDON HANDEL SOCIEff UMITED CONTENTS OF THE FINANCIAL STATEMENTS for the Year End¢d 31$t Dfflber 2021 Pa9e Repjrt ofthe Trustees 1104 Independent ExarT¥nerfs Rewt Statement of Finart¢ial Aivii$ Balanct Sheet Statement of Cash Flows Notes to the FThnaal Statements 9t014 Delailed StsIeThnt of Finawxial Ad"vilies 15
OooJSp3n Enveknpe ID.. 308150EE.806F4Z3W15$9F1A23D70414 LONDOII HANDEL SOCIETY UPAITED REPORT OF THE TRUSTEES fw the Year Ended 31$¢ De¢ernr 2021 The directors. vtho also act as twuees of Ihe dwnty. present their report and the ffinanrial slalements for the year endeij 31st December 2021. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 01193919 (England and Wale51 Reglstered Charity numbei 269184 Principal office London Handel Society Limrted PO Box 76210. London NW1W 8JN Register officg Lynton House 7-12 Tavistock Square Lond WC1H 9LT Ttee l M Adams G Batsleer (Resigned 26th Septemter 2021) C H Eggs IAFpointed 25b) April 2022} V S Harrig>n M D Holley R H Hopkin Ichaiman) J M Ingham (Resigned 17th May 2021) R Lawrence J M Liverseidge A Packman MHASctstt R M YoLW)g Company Secr•tary R Laviren Independent Examiner Janice Matthews FCA Menzies LLP Chartered Accountsnts Centrum Housè 36 Statn Road Egham 20 9LF Bankers National WÈstminster Bank plc 250 Regent Street London W1B 3BN Page 1
Docusign Envew D.. 308150EE-BC6F4239815&9F1A23D70414 LONDON HANDEL SOCIETY UMITED REPORT OF THE TRUSTEES for the Year Eled 31$t Decemr 2021 The Tfustees are pleased to wtsent Ihwr report of acli¥itie5 and ac£ounts of the London Handel Society Limited for Ihe year ended 31st DecembÈr2021. These attrntS comply with the Artides ofAssoriatk)n, the latest approved on 16th May 2016, the charit$ Ad 2011, the Companies Act ar AuntIng and ReWing by Charities.. Statement of RecommerKled Pradice appltsble to tharity.es weparing Iheir accwnts in accordance wth the Financial Reporting Standard appli¢able in the UK and Republi¢ of IrelaThJ {FRS1021 leffeGtNe 151 January 20191. STRUCTURE. GOVERNANCE AND MANAGEMENT Constitution Londcffi Handel Soc4ety knmited (the -so0"e is a tharrtat4e MpanY fimitet1 by guarantee and 1$ wvemed by ts Memorandum and Ariides of Associaiion. Irlated on 161h December 1974 its current name was reglStere<J 81 Companies House, Cardiff on 6th Marth 1991. The members of the Society are the tnJstee$ named wthin its reference and adminislralive details. In the event of the sCty beirvJ wound up. the liabitsty in resped ol the guaranteè is limrtèd to £1 per member. Method of appointment or election of Twstees The managernenl of Ihe th3rity 15 the res[nSibIl of the Trustee5 who are decled and co-opled under the tems of the Articles of Assctialion. Th• Trustees are also directsrs lor the pUSe$ ol company law. Trustees are apw'nted by personal invitation or recommendalion by othèr Tmstees. Trustees meet as a b)ard (the "Boardl at regular Interyals throughout the year. The Arte$ of Associaljon contain the usual pi¢)visions for rètirèment and rotation of trustees, and these are obseed each year. The Board consblules the rnember5hip ofthe So•. Policie$ adtspted for the indu¢iion and training ot Trustees In genwal, Trustees invited lo join thè 8oard are alrtrady in possession of skills fett to be appropriate for the discharge of their duties. Training is not thougm to be necessary where competence already exists. although s¢all$t training 19 provided when reqUId Ifor example. for SpeuficsoftWa used inlhe Souety's operth"ons). The effediveness oflhe Board is evaluated periodicalty and the perfomiance of indmdual trustees against defined ot4'ecti¥es is also assessed whon Ih Board considers it approwale. Organisational stnKtur• and decision making The Trustees are sponSitAe for appfoving the budget in advance of deo"sKMs bein9 taken. The Board has ¢stsblished 3 Finance & Govemance CcMnrnittee lo assist in its derision-making. and other sCoMMitteeS are established from timè to lime when this is fell to be useftjl. Musical arKI ¢)Iher arStIC content is a matter for the Musical Director who occasionally attend$ Board meetings Ixrt d¢e$ rni Iwe a vcie. Risk management Risks incurred are those arising from prorTh)ting operas. oralori. concerts ofvaryrng stzes and otherevents. The Trusteès are ever mindfijl of their fidwary and financial responsitslities in this 93(. and the Society also maintair)s public liability insurance. Both the 2020 and 2021 Festivals were materialty affected by the Covkl-19 pandern, as was reported in both Ihe prior years and these accounts. The Trustees remain especlty mindfvl of the changitvJ nature ol risk in this new aThJ diffi¢uW ntext the perfoming arts. End0vont Fund Following receipt ol a major gift in 2017, the sety has established a small endowment Nd to hdp undewpin it$ long- term financial coThJrtion. It is hoped that the fund wil gr over fiJtU years. both from investment income and from the addition ol fvture donatwjns. Ruffer LLP remains the Irependent assei rDanagervthKh mana9es thefvnd. The apwnknent is subject to an Invests))ent Man8gèrnenl Agreemeth bètweèn thè parliès. OWECTIVES ANO ACTpimES Polleles and oblectlves The objectwes of the Society are the promolion and athlancement of aèsthètsc arKI muwral edu¢ab"on. in partrular the promotion of the works ol G.F. Handel. Through its activities, the Sooety seeks to make the woths of G.F. Handèl morè widety known through performance, education and work wilh schools and the broa¢Jer communty. The Soaety meets its objeclives largely by produong a musrAI festival (the'FeStivn exh year for lour lo six weeks, usualty around Easter. atthough in 2021 the Festival was shortened and moved to October because of the Covi&19 pandemic. Pw2
DocuSvJn EnplD.. 3081sE-BF423M15s9FlH23D704I4 Th& Society seek5 lo raise yjffiaent d5 to meet ts ot¥ecve5 Ihrough adbvè luThJraisiThJ and stIng donal1s. As part ofthe Festh"v81. the Sooetyorganises the annual Handd Singing CrynFebbon fHSC") foryoun9 and de¥elopin9 singers which provide5 thern with a si9nificantand prestsgious laundFpad forthwr fvItU SLicce5s. The careets ol several tsf today's leading opera performers have been enha and $upported by such partiripation. ACHIEVEMENTS AND PERFORMANCE FOR THE PUPUC BENEFIT The Trustees confirm that they have referred to the guida ¢Onined in the Charity CommkssKJn's general guidance on public benefit when revIng the Society's aim5 and obj'edives and in planning future actNithes. Because of the continuing impact of the CovKJ-19 panderr. the mam) 2021 FestNal was Sher1ed and moved to O¢totr. when restrictions were less stringent than they were eartier in 2021. Even $0. dewte pandemic reS1rKtns. andwithin alCab re9alOn5. we were at4e to pre$ent a S?nd, IgeI virlual p?rforman¢o ofour grtyJnd-breakiNJ'Messiah Reimagired. on Easter IA(YKlay 2021 whth gained over4,C(Q views on YouTube and which repluted the success of the first such performance in December 2020. Once 8gain. the Lon¢Jon Handel OrLestra and soloists performed live in St George's, HarTher Sware. all safely dla[e, and Ihe thyuses we-(ecded and blended digitally th tho INe performance. The main "mini-Festival' in October ran for one week. th some evènts taking pkce just before and after. HhlightS which supported our Charitab objeclives included a concert by previous wnrers of Ihe HSC, and stagin9 both the semi-ffinal and final stages ofthe HSC for 2021. We a150 undertook ourffir5t COpera1)n with The En91ish Concert (Samson) and intemationalty renovmed soprano LLV Crowe perf0md HaThJel's Neun Deutschp Arien with La Nuo¥8 Musts. Handel Singing Comp¥tition In 2021 we received a record number of apleat$, with 187 appkants from 32 countries. The winner tsfthe first prizè. supported by the Came Trust was Hilary Cronin. soprano, and the sec(d prize, supported by Samir Savant in memory of Mtchael Ewart, went to Bethany Hornk-Hallett, soprano. The AudiencE Proe was awarded to Hilary Cronin and all parti¢ipants received Finalists, prizes induding Felix KefflP lQeran Rayner. Aswell as cash prqes, all four finalists were as usual guaranteed recrtals in later Feslivals. Donors We are aayS very reliant on the suprKrfl of al ¢)vr dr- by and srnall. Howevèr, during 2021 and W¢d sincè th• onsèt of Ihg Covid-19 pandemK we have been e5perialty touthÈd by their gÈnerosrty. This was all the important during 2021 as audience numters remai subdued. Our hiylr-v4ue dornrs $0 resp(xN1ed magnificenuy by renewing their gifts. We a deeY yraleful lor Ilxir supp¢>t ¢kn"ng what conb.nues to te an exceplwyiaty difficjjtt period fu the Festival. and the arts in gener81. N¥w F¢stival Direetar Our Fèstival Oirecior Samir Savant left us in Ihe sumrrer of 2021 to take up a new posibt)rt as Chief Exethe of Sl. GeoTge's Bristol. We thank Samir for his stroThJ ContribuOn to our succE55 over the last yeats as our first fvii-time Festival Oir¢¢tor, and wish him w1 in his new role. After a suitable search and recTuiirnenl process carried in ac£tyd•rKe with wr inlemal goveman¢¢ rubs. Gregory 8otsYe$f w¥$ appointed our new FestNal Director in November 2021. Volunt¢•rs Many front-of-house volunteers helpedvth events WeW able to stage atthè minr-FestTval as well as OLff digital content and social media aclivity. Their tasks are crib"cJ lo our success and include writiny trust applications, film edits"n9, social meilrd. research. donor stewardship and genw #thiini5traI. Tk Trustees are very gr8tefvl to them all for their supwt. Gaing Concern After making appropiiate eTh]uiries. deSe the effe¢l ol tr Cry4i&19 paThJemic whi¢h materi811y affected the 2021 Feslival, Ihe Twslees have a reasonable expectst1 that the soty.ety has adequate 5¥Ur¢¢$ to continue in 0raIln01 existence for the foreseeable future. For this reason, it conbnues to adopt Ihe going concem basis in preparirJ the financial statements. Further details gardIng the adoption of the grj corw basis can be found in the Aco)unting Policie5. Page 3
0o¢uSwJn Envelcpe ID.. 308150EE-8C6F423M15&9F1A23D70414 LONOOM HANDEL SOCIETY LIMITED REPORT OF THE TRUSTEES forthe Year End 31st Dee¢mb¢r 2021 FINANCIAL REVIEW R•sults for thè y•or A Statement of Finanual Adivils is irtluded on page 6. There was a net movement in tota ffiJnds of a surplus of t,54212020. £60n. Gross irwme for the year was £259.523 12020". £270.949), and expenditure £219.47912020." £286.081). Inc(rfne of £27 was earred from investment512020'. £YJ61. Total funds at 31 st December 2021 amounted to £274.64412020". £218,102}. Ofthese, £108.579 were unrericred12020'. £68.5351, £Nil reslrKled12020' £Nill and £166.C65 related to the endowment Q020". £149.$67). Reserves policy The directors are of the view Ihat. in leryns of income reseryes e[ab to meet any outslanding liabilitti, atwroximalety 10h of lumover woukl be a suitable largel. Ho%ler due to the financial constraints on ihe Soctety's funds. reserves fluctuate from year to year. At 3151 December 2021. the Souety's reserves amounled to £108.579. The Trustees arè conb"nualty enga9ed in seeking donati¢M$ and methcrfjs of raisirg. The Reserves PolKy was last wiewed and approved by the Trustees in April 2020. Major Donors and Supporte The Soaety wishes to express rts gralefijl Ihanks to ai rts don and SUPF¥Jlets for thw"r ¢ontinwny 9enerosity, includirrfJ in particular the lollowirg major donors. The Britford Bridge Twst London Handel Sooety Enth)wment Fund- Found* Mi Mertsyy of Hryward and Nan Hopkin Arts Council England Samir Savant in memory of Mithael Ewart Maria Bjomson Memoiial Fund . Darwn Escapes The Camé Trusl Conlinuo Foundation Maecenas Tnjst Vicloria Wood Foundal¢on Kiri Te Kanawa Foundat IUK) Oyly C8rte charitab Trust Members ol the Direclof s Cwde. Patrons Cird•. Bènetactots aThJ A$Slate BeneftorS the Friends ofthe London Handel Society OBJECTIVES FOR FUTURE PERIODS Thg main ¢4j¢dive forfuture periojs contirwe$ lo te to rnaintain Ihe MUS1 and arbsbc integrity ofthe Festival in support ofthe obJ"eth"ves oflhe Society, while reco9nising thè need to ensurtthatlhe Sorievs resources are managed responsibly. This is lo be achieved by engagement vthh fnends and SuppterS and by arranging luture lund-raising evert5. This report has been Ppared in aCcOrdae with the special FXOViSK)rts of Part 15 of the CoMnieS Acl 2OJ6 relating lo small companies. ON BEHALF OF THE BOARD. C4DF Richa¥'¥In- Chaimian Dale.. 16-Sep-2022 Page 4
DooJSign Envehjpe ID.. 3OelSCEE-W4231sFlA2307oII4 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LONDON HAIIDEL SOCIETY UMITED I report on the charity trustees on my exar¥Mn•tson of the ertS of London HaTrJel SocW"ihe Companf for the year ended 31st December 2021. Responsibilities and basis ol rgport As the charity's tnjstees of the Company land also rts direclors for the purp)ses ol company lawl you #re rèssy)n$ible f Ihe preparation of Ihe a¢¢ount$ in acryjrdance the fequirements of the Compar4e5 Ad 2006 fihe 20 Ad). Having satisfied myself that the ac£ounts of Ihe Company a not required to be 8Jited under Part 16 ofthe 2008 Ad and are elwJible for indepèndent examination, l <t in respect of my examination of your ¢harrty's ¥counts as carried out undef Section 145 of the Charitles Act 2011 (the 2011 ACYI. In carwn9 OLbt rny examina1 I have follod the Oirections gNen by the Charity Commission under section 14515} (bl of 2011 Act. Indèpèndent examSnerf$ statem•nt Since the CompanYs gros5 incoTWE ex¢ee(led £250,C((l your eXam1r must be a member of a tY listed in seclion 145 of the 2011 Aci. I confirm that l am qualified to urKlertske the examination because l a member of ICAEW. which is one of the listed bo(lie5. I have completed my examinalion. I cOnfin that no mattw5 have rnme lo rny attenb.on in ¢onne¢tion wilh ihe examination gNing m• cause to believe.. 1. accounting records were not kepl in respÉd ol the Compa)y as required by section 386 ofthe 2Cth Act: or 2. the accounts do not accord wth thjse recort1s," or 3. the accounts do mt comF4y wrth thè atttyJntin9 reqU1MentS ol seclion 3% of 2006 Act 01herthan 8ny requiremenl thal thè accounts gNe a'iwe and fair view whith is not a maller considered 8$ part of an independent examination,. or 4. the accounts have not been prepared in accordarKe with Ihe methods •)d s)MciF4es of the Statement of Recommended praCte for acntIrtsj and reportin9 by ¢hanb"ès applutle to charities preparing thwr accounts in accordance with the Financial Repoth"ry Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no ¢on¢em$ and have come across no other matters in conneclion wrth the examination to which attention shouk be drawn in this report in order to enable a proper derstandIng of the accwnts to be rèached. This report is made solety to the COMpanS Trustees. as a boty. in Parl 4 ofthe Charitiè$ (Aeeount$ and Reports) Regulations 2008. My work has teen undertaken so that I might state to the Company's Trustees those matters l am required lo $tste lo them in an Independent examinerfs report and foi no other purpose. To the fulle¥t extent permitted by law, I do not accept or assume responsitAIty lo anyone olher than thè C¢)mpary and Ihe Company's Trustees as a body, for my woth for this report. vi•&FCA Menzies LLP Chartered Accountants Centrum House 36 Slalion Road Egham W20 9LF Dale.. 20-Sep-2022 Pa9e S
OovJsnErMkyiD. MBISQE&aV4t3MIW123DT0414 STATEMEKfoF HNAMCLiLACTIVTllES ONCORFOIIAllNG AN INCOMEAIIO EXPENDtTUREACC(ThD frtheYer EfvJt031st DK•mlxra721 2fy 202fy Tatsl knd funds INCOMEAND ENDOlbWENTS FRCII.. 221.758 221.758 222.169 824 27 CharttrtrA•ath: 47 259.523 270,949 EXPENDtfuAÉON: 10.n> 10.739 18.8e2 267 19 Tolal 119m 219.479 2e6.081 NETirKrwEXPEIIOWWUREI BEFORE GAIN5 1 ILOSSESI ON INVE5TMErir5 {15,1321 UNREAUSEDGAINSON INVESIIIENTS 16.4ge 1fj,498 15.739 NeTIMCOMEPIExpeNtX7UREI 16 RÉCONCIUATION L¥FUNDS T¢tal 149.867 218.102 217,495 TofAL FUMDS CARRIÉD FORWARD
Do¢uSWJn Envelope ITr. 8150EÉ.8CEF423lsWFl2JD7O4I4 LONDON HANDEL SOCIETY LIIMTED BAL4NCE SHEET At 31sl Oecembef 2021 2021 2020 Notes TANGIBLE FIXED ETs Investments 14 166.074 149.576 CURRENT ASSETS Stock Debtors Cash at bank 100 39.740 137393 15 32,714 152413 177.23J 185,227 CREDITORS Amounts falliNJ duè within one year 16 {68,6631 (116.7011 NET CURRENT ASSETS 108.570 68,526 TOTAL ASSETS LESS CURRENT LIABILMES 274.644 218,102 NET ASSETS 218.102 FUNDS OF THE CHARITY Unresliicted funds Endowment furn15 108.579 68,535 149,7 TOTAL FUNDS 218,102 The charitable company is enlitled to exefflplW from audit under SedKffl 477 01 the Compan5 Act 2(M)6 for the year ended 31sl December 2021. The memr5 have not require(I Ihè Chantab company lo obtain an audrt of rts financial statements fot the yèar ended 3151 Decemb¢r 2021 in acwdance with Section 476 of the Companies Ad 2U)6. The trustees aCknOwdge their respons¢'litIeS for lal ensuring that Ihe charitable company keeps acCni rec•yds that o)mF4y tmth Sects"ons 386 and 387 of the Companv6 Acl 20C6 and preparing finanaal statements whith give a true and tsir bryAf of ts slate of affairs of thè charitable company as at the end of eath finarKial year and of its suwplus or defiut for each ffinancial year in accordance wlh tho requiremenis ol Sectmjns 3g4 and 395 and which otheMise comply wth the requirements of the Companies Act 20Cfj relating to finarwl statements. so far as appltsbk to the tharrtable CpanY. Ibl These financial slatemenls have been prepared in accord with the w0viOn$ apICable to companies subject to the smam companies, wim$ aThJ in accdance the provisions of FRS 102 Secon 1A- small entiti"e$. The financial statements were approved by the Board of Twstees on behalf by: 16-Sep-2022 and were stwed on its Doc¥S*n•dbr. DF Company regi5traiion number.. 01193919 Page 7
Docuswn En¥elope1Tr. 30B150EE-BC6F423M1599F1A23070414 LONOON HANOEL SOCIE LIMITED STATEMENT OF CASH FLOWS At 31st t)tcemb•r 2021 2021 Total 2020 Total Cash flows from op•rallng activitl•s: Net movement in funds Less.. Interest received Less." Unrealised appreciation in market vaue of invesbnents Ilncreaseydecsease in debtors lincreaselldecrease in stcrk IncreaselldecTease} in creditors 56.542 127) {16.498) 607 15961 115.7391 17.026) 100,833 148.038) 117.3531 Net ca¥h uwl in opwaling aclivities 115.0471 67,752 Cash flows from Investing activities: linu¢aselldecrea5e in irN?strnents Bank interesl received Unrealised appcIaln in market ¥ae of investm 27 N•t cash usedln investing activities 27 596 Change in cash and cash equivalents in the year 115.0201 68.348 Cash and cash equivalents broughl fe<ward 152.413 84.065 Cash and cash equivalents carried forward 137,393 152.413 Page 8
Dos]n En¥eJDpe ID.. 308150EE-ecfjF4231S&9FIA22O7o414 LONDON HANDEL SOCIETY UMITED NOTES TO THE FINANCIAL STATEMENTS forthe Year Ended 31st D•c•mber 2021 STATEMEMT OF COMPUANCE These finanaal stslernents have bepm prepared in coMpliae wilh FRS 102. Finanual Reporting Stsndard applicat4e in the UK and Republic of Ireland London Handel Sccth Limiled is a piivate ¢ompany incorpcyated in EnglaThl and Wales underthe CoMpanS Act 2006. The address olthe wislered offts is gNen on page 1. The wncipal actrvits olthe company and the nature of its operations are set in the Trustees. ReFort on pages 2 to 4. ACCOUNTING POUCIES The principal accounting policE5 aihWed.judgemerts aThJ key sowce5 ofeslirnation uncertainty in the preparation of the financial siatsments are as folbws. Basis of prèparation The financial SleMntS have been preparet1 in attaritti AccountiThJ and Repofb"ng by Charities". Statement of Recommended Praclice appluble to charities Fweparing their accounts in accordance with the Financial Repoth'ng Standard appluble in the UK and Reput1 of Ireland {FRS 1021 {effective 1 January 2015)- (Charities SORP IFRS 102)). Ihe Fin8nThal Repg SlaThJard ap[l&ble in the UK and Repu1j of Ireland IFRS 1021 and the Companies Acl 20CE. London Handel sots.ety Lwnited meets the deffiniti.on of a wblic tenefft entty under FRS 102. Assets and liabilitses are recognised at histortsl cost or transth"on value unless olherwise stated in Ihe rean1 accounling policy noles. Ineoming resources & debtry All incoming resources are induded on thtr Statement of Finarrial Ath1b when the company is legaly enthlled to the incimne thè r•)unt can be quanlifitd wth reasonable accJJr•¢y. Resources expended & liabilities Liabilities aTe recognised as resources experxled where Ihere is a al or constructNe obh"gation ¢ommitting Ihe charty to the expèndrture. Al expenditurè is cakuL4ted on an accruals basis and indudes value added tsx. whith is irrecoverable. Costs alated beeen tharitable actsviknes and other expendrtfft according to the nature ofthe ttsst. Fund accounting General are unrestrictèd funds. whKh are a¥aable hr Ltse at the ofth• Trustees in furtheran¢¢ of the general obj'ectives of the Socty and wh.ch have nol been designated other purposes. Inve$tm¢nts Investments. other than the investment in L(th Handel FeslNal Limited, are shovm at the mana9èrfs market valuth'on on the last Irading day before the year end. Any unrealised or realised gains arisry from investments afe eAJrrently retined in Ihe fund. Th¢ 1mlestst in London Handel Festival L¥nrted 1$ $h¢)wn al ¢ost Financial instruments Other than investmènts, the trust onty has finarK?al assets and ffinancial fiabilrties of a kKid that qualify as basic finanaal instrutnents. BaC finanaal instruments afe initralty recognised at Ifansaction value and subsequently measured at Ihtir settlnent value. Goin9 cancem The Coronavinjs pandern created uncertw for the performirrfj arts secior Ihe kniety was not immunè to this. The Tnjslees took al relevant measures lo ensure the ftrture of the chanty's activities whilsl adhering to Govemmenl guidance. Arthtyjgh the pandemK has had a finarKial impact on the income from musical perfomiances in bolh 2020 and 2021. Ihe wgns of recovery are goTrJ wilh adiere levels returning to near pre- pandemic levels. On Ihis t)asis, the Trustees have a rea50nable expectation Ihat the Soriety has adequate rèsources to cover the charitable company's requirements for ¥1Th3 caprtal and capital expenditure for at least the next 1Ve months efore finanrial ststeffents have been prepared on the goirvj COern ba51S. Page 9
Docusign En¥elJFe ID.. 30B150EE-8(6F4239415MF1K3070414 LONDON HANDEL SOCIEfi UMITED NOTES TO THE FINANCIAL STATEMENTS- CONTINUEO for the Year Ended 31st December 2021 DONATIONS In 2021. thnatiorts of £N related to 51[d fund$12020". £262C61. OTHER TRAThNG ACTMTIES Year Ended Year Ended 31.12.21 31.12.20 Income frffii progrMe adverliyng In¢¢yne from $819 of CDS other m¢r¢haThJise 824 824 INVESTMENT INCOPAE Year Ended Year End•d 31.12.21 31.1120 Deposit accounl intefesl 27 27 1,191 INCOME FROM CHARITABLE ACTMTIES Year Ended 31.12.21 Yèar End 31.12.20 A¢tsvity Tithet sales Mu&cal performar Singing Compelition entsi8S Mu&cal perfomiances Other musKal performances Muscal perfcvmances 20.212 7.268 10.258 37.738 16.914 8.316 47.360 EXPENDITURE ON RAISING FUNDS Year Ended 31.12.21 Year Ended 31.12.20 Printing and publicity Fundraising costs 10,523 216 18,646 216 10,739 18.862 CHARITABLE ACTMTIES COSTS Support Dire¢t costs costs (Séè note 91 (s note 10) Total$ Musul perfornis 11S.356 93.384 In 2021, expenditure of£NIL on musical perform5 related to trted funds12020.. t26,). Pag¢ 10
DocvSkJn Enpe ID.. ]OS15QEE-8O6F423jSF1ATjP7fj414 LONDON HANDEL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS- CONTINUED fot thè Year Ended 31st December 2021 DIRECT COSTS OF CHARITABLE ACTMMES Y*ar Ended 31.12.21 Y•ar Ended 31.12.20 Competition costs Musicians, fees IAusrc hire, programme notes and record pr(¥Ju¢ll Costs Venue & olher hire costs Photography Othef ReId1j$ 31.846 57.513 20,2CA) 127,366 1.263 11,515 10.580 794 115356 166,788 10. SUPPORT COSTS Year Ended 31.12.21 Year Ended 31.12.20 Musical performances Support cost5. IrKIYed the above. ai¢ a$ Year Ended 31.12.21 Year Ended 31.12.20 Administrator and office costs Bank charges Websjle Insuran Box Offe System Costs Other Govemance costs (see note 12) 66.573 2.757 1.661 1,062 12.192 953 73,492 3.033 1,776 1,78S 12,195 876 7.274 93,384 1(M).431 11. STAFF COSTS AND EMOLUMEMTS 2021 2020 Wages salaries Employer pension contributi5 43.282 733 47,0 1,094 Social secuiity costs 4,195 5,279 53.373 Pa9e11
DoctsSwJn Envelope ID.. 30815OEE_B06F423MI9F1A2xI70414 LONDON HANDEL SOCIEfY LIAIITED NOTES TO THE FINANCIAL STATEMENTS- CONTINUED for the Year Ended J1st December 2021 11. STAFF COSTS AND EMOLUMENTS ICONnNUEDI Partl¢ulaYs of•mploytss: Th• average numbèr ofemployees duriThJ year, (akulaled on the basis of11-"Me equivalents. was as follows.. 2021 No. 2020 No. Number of staff, i1n9 diredors chaiity effployed Iwo membets af staff fer the full yèar. No employee earred over £60.C(M) in the current or prior year. 12. GOVERNANCE COSTS 2021 2020 Indeppndent examination fee Accountancy company seuètarial ¢0sts 3,300 3,300 13. TRUSTEES. REMUNERATION AND EXPENSES There wa$ no remuneration paid. ror r)ther benefrts provided. to Twuslees for either the year ended 310ecember 2021, nor for the year ènded 31 Decembw 2020. Ouiirvj the year no Tru5tee5 r1ved any reimbursement of •xpen$e$131$1 December 2020". £721. 14. INVESTMENTS 2021 2020 Endowmenl fuThJ Lond Handd Festival mile 166.065 149.567 166,074 149.576 The endowmenl fund was invested at the end of Septethr 2019. Movemerts on the enthvment fund during the peiicxl are as follows: 2021 2020 Mathèt Valu& 311$1 Jary 149.567 133,828 Movement in value of fund in year 16.498 15.739 Market Value at 31st December 166,065 149.567 HislorK Cosl at 31st Oecember 132,693 132,693 London HarKlel Feslryal knmited is a dtYm1 •ny. Page 12
LONI)ON HANDEL SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS- CONTINUED for the Year Endèd 31st Oecember 2021 15. DEBTORS: AMOUMTS FAWNG OUE wfTriiN ONE YEAR 2021 2020 Prepayments Other debtors 2,679 2,223 32.714 16. CREDITORS.. AMOUNTS FALUNG OUE WITHIN ONE YEAR 2021 2020 Trade creditors Other creditors Defeed income AccnJal8 6.034 25,317 62,401 22.949 21,044 18,367 116701 D¢ferr¢d in¢om¢ movement In the year 2021 2020 Broughl forward Acttvrty in the year Released in ihtr year 62,401 18,367 93,951 62,401 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2021 Tola Funds 2020 Totsl Funds Unrestrsct funds Restricted fvnds ran9ible Fixed assets Current assets Current liabilities 166.065 166.074 159.264 50.694 149,576 185,227 116,701 159.264 50.694 Page 13
Oo¢uSi90 Etwelope ID.. 30B150EE.806F42N15MF1A23070414 LONDON HANDEL SOCIETY UPMTEO NOTES TO THE FINANCIAL STATEMENTS- CONTINUED for the Year Ended 31st fjecembw 2021 18. MOVEMENT IN FUNDS Net movement in funds At1.1.21 At 31.12.21 Unrestricted funds Genefal fvrKI 108579 Restrlcted lund5 EndowTnent 149,587 16,498 166.065 TOTAL FUNDS 218.102 $6.S42 274.644 19. ENDOWMENT & MATERIAL LEGACIES The Souety has established an endcr•mient fund, follcr*ing a gift in 2017 10 help underpin ils long-lerm finaroal condition. It is hoped that the fund will grow over firture years. bolh from investment in¢orne from the addition ofhrture donations. No additions to the enrnent fund were made during the year. Th? Board ha5 aFpoinled an independenl asset rna, Ruftsr LLP, to rnare the fLmd. The apwntment is subject to an Agreement tsehveen thè parties. Ruffer 15 [nerated on the basis of the vahje of assets uThJer management, and receNes no other remune. No legacv6 were nots'rd to Ihe Soc¢ety during the year. 20. RELATED PARTY TRANSACTIONS The fi9urè for Dtfflations under Unrestrided Fund5 indudes donal1c5 from trustees amounluig to £28012020.. £3,2eA)l. There have been addth)ns to the endowm dwing Ihe year under VIew. There were no other Rdaled Party Transadions dumg the period1220. £1). 21. POST BALANCE SHEET EVENT There are no post balanct date events to eommÈnt on. 22. ULTIMATE CONTROLLING PARTY In the op10 of the Tnjslees the tharity has nate controlliig pty. 23. COMPANY STATUS The charity is a cofflparby liwnrted by guarante¢. The members of th? o)mpany are the Trustees listed in the reference and administratNe details oflhe charty in the ReFthI of the Trust. In the event ofthe company being wound LV, the liabilty in respect of the guarantee is limited to £1 per member. Page 14