Company registration number= 01193919 Charity number". 269184 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) ACCX7ZAX• 2710912023 COMPANIES HOUSE A12 120 MENZIES BRIGHTER THINKING
LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) CONTENTS Reference and administrative detaus Qf the C¢ynpany, its Trusteès and advi8trr¥ Trusthés. report Independent •¥arnlnerfs rnport Statement of financlal athhl¢s Balanc• sh••t Notss to the financial statsments 9-17
LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022 Trustees I IA Adam5 C H Eggs laFpointed 2$ April 2022. 27 2023) V S Hamson Iw9ned 10 October 20221 D Hdtey R H Hopknn. Chawnwi R Lwer* J M Li¥erse A Packman MHAScoit R M YouTrJ Ir8sKJnod 14 Janvary 20231 J 01Y lapwnted 22 ju 20231 R Evans lappednted 5 Otrmber 20221 Company rnglstered number 01193919 Charlty r•glstsrod nurnbgr 269184 Reglstered offi¢• Lynton House 7-12 Tawstc¢J( Square London WC1H 9LT Company seeretsry Independent Examlner jani Matt$ FCA Menzies LLP Chartered Accovnlants Centnjm Hryjse 36 Slaiion Road Egham TW20 9LF Page I
LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees are pased to present their report of actiwbes and accounts of the London HaThJ81 Socty Limitèd for th8 year ended 31st December 2022. These accounts compty the Asb'des of Asswation, the latest èpproved on 16th May 2016, thè Chariti8s Act 2011, the Ccffjpanva5 Act 20CE aTrJ Accounting and Rep)rbThJ by Charits.' Statement of RecommefpJ8d Practice applicable to charities prepaiiro their accounts in accordance the Finanoal Reports"ng standard aOi¢at4è in the UK and RepAlC oflrefand IFRS1021 leff8cti¥• jUary 20191. STRUCTURE. GOVERNANCE AND MANAGEMENr London Handel Souety Linited lthe "S) is a Lble ¢tynpany Imiied by guarantee and is governed by its MernoraThYum th.des of Asso0ab". Irwrp¢yated on 16th December 1974 its currenl name wa5 registered at Companies House. Cardiff on 6th March 1991. The membets of the Soriety are the trustees named within its reference and adrninistralbve details. In the event of the Sety beirg wound LP. Ihe Ikgtslity in respect of the guarantee is lrnited to £1 per memb¢r. ethod of a ointrnent or election of Trusteès Th8 managemenl ol the charity is the rewsJility of the TteS ¥tho e elected and co4led under the temis of Ihe Artidès of Assouation. Thè Ttst ai also direttors for purposes of company law. Trustees are appointed by Fersonal invitation OT t0Mendation by other Twstees. Trustees meet as a board (the -Board'l al regular intervals throu9h¢yJt the year. The A"eS ol AssocialtM conta"n the usual provisiws for reb'rerrwt aTrJ rolation of tNstee$. and these a obseed each year. Thg Board ¢onsbW the mernbership ofthe Soth. Policies ad ted for the wJuctnn and traini of Trustees In 9an&ral, Twstets inwted to join Iht Board arè alr8a in possession of skills felt to be appropriate for Ihe ¢Jischarge of their dthe5. Training 15 not th0ht to be necessary wlwe cornpelerts alr•ady •xists, aRhou9h speaalist trainsng is provhled whèn ¥equired If0¥ exarnple. for speufi¢ $olMfare used in the Sotsety's operations). The effectiveness of the Board is evaluated periodicalty and the perf0Mn of iThJ1vidu trustees against ¢Jefined obJ"ectives is also assessed vthen the Board ¢onsitJers it appropriate. 8nisational structure and decasion mak. The Trustees a resportsible for apprown9 Ihe bLwJ9et in advan of deosions beiTrJ laken. Th8 Board has establishèd a Finance & Governance Ccfflrnittee to aS$t in rt5 decision-rnakiTrJ. and Olher sUMmrttees are estsblished from th.me to 'me when thi5 15 felt to be usefvl. MuSal and other artistic tontent is a matter for the Fesb"val Difector and Musical Oirector, Ihe former attends Board rneebng5, but not ha a vot•. Risk mana ement Risks inojrred are Ihosa arising from pr(¥))ob"rYJ opwas aryj $171lar $ta9ed musical oratorio$. concert$ of rn9 zes and other events. The Trustees a e%r mindful of thw'r ffiduciary and finanaal responsibilities in this regard. and the Scoety also maintains public liabilty insurance. The 2020. 2021 an(12022 Festivals were materially and adversety affeetèd by the Cothd-19 parKlemi¢ (for examp. a¢hn9 lower ticket sales than n¢rnall as reported in prior year5, account5. Th• Tfustees main especiany mindful ofthB ¢ifficLAt nteI for the perforning arts. Endowmenl Fund Following rerxipt of a rnajor gift in 2017. Ihe SotsÈty estsblthed a small endtr4wnent knd to he Undein its long-temi financial condition. It is anticpated that tha fvnd continue to grow ovèr frjture ytats, boih from invèstmént ineL¥ne and trom the addition olluture dOnatic5. The gains in the fund wdl be drawn al the discretion of th8 trustees. Ruffer LLP rernains the indeFendernt asset manag8r manages the fund. Th? appointrnent is subject to an Inv8smènt Management Agreement Ihe parb"e5. Pagg 2
Do¢uSwn En¥elcpe ID.. AAB8600W3fy4D41A4WAE2916EBE46D LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 OBJECTIVES AND ACTivmES P liaes and The objectives of the Scctety we the prunot)n and yeMent of aesthetic and nwsical education. Wb particular th• promotion of Ihe works of G.F. Handel. Through rt5 athmbes. the s seeks to make the works ol G.F. Handel more ¥Adely known through Ferformance. education and work th sthools and the broader comrnunity. The Swety mèats ts gbjectives largely by producing a rnusical lests.val lthe 'Festivafi each year for up to four week5 each spring and a number of other tvtnts throughout the year. There has beèn a conbnued advancement in parbc4patMM and engagement opptsrtuniti8S. The Society seeks to raisè suffiuént hJnds to mèèt its objectives throu9h active fiJndrai5ing and 501iciting (k)nations. As part of the Festival. the Socty organises the annual Handel Singing Ccfflpetrtion for young and develon9 singers which provkyes them wth a &gnificant and presbgious launch-pad for Er future success. Th? careers of several of today's leading opera perf0Mr$ have been enhanced aThJ supported by suth partwalion. ACHievEMENTS AND PERFORMANCE FOR TrIE PUBU¢ BENEFir The TNstees Confi Ihat they have refeffed to the gLIidan contsined in the Charity Comrni8sion's gereral guidan¢¢ on public benefrt wh¢n re¥iewirvJ th8 Sooety's aims and objectives and in pnIng fubjre ties. 2022 saw the fetum to regular lfft perf0maTh post-pem and ts Soc•ty was able tts promote its first fully programmed festival since 2019 (the 2020 FestNal was wtsjrarnmed, but was interrupted by Ihe Covid-19 par¥Jemicl. The 2022 Festival enbUe<l 'New Be9innift9s' ran Marth 23rtl unb"l Aw"1 18th 222 arwj fOsed on artists. newly performed worf(s 8J new i(Jeas. A number of perforn8r hh1vJhts induded a Handel-ir6pired commission of Trew music by ¢omposer Anna Clyne. a celebration of yguThJ laknt tmth a perfom)ance by the National yth Choir of Grea¢ Britain. collaboration5 Wth venues including St Martin in the Fiebjs. St John's Smith Square. the Foundling Museum and St George'5 Church, Hanover Square. New and ywnger audnceS tre e5peryaily tsrget¢(l through a speaal performan by 12 Ensemble at Vllage Urthrgrtyjnd in shlit¢. Ea¥t LoTrJm. Ticket pnwts We kept at affordable LS across the Fests"val. IUding the introducbon of £10 IKkets for students. This was the first Festival since 2019 Witho any CO19 pandem¢ restric"ons. but adnCe numbers wsained lower than PViOusly. However. there were encouraging signs of returnirg audiences at oure¥ents later in 2022. The Festival r8¢èiV8d PO$vt wess and national attents". tsvour p)mm?nts from publtations ind¢JJing Ihe Ev•ning Standard., 'iNews', Ihe Times. aTrJ'8achtrack'. Handel Slngln9 ¢omp¢tttlon In 2022 we rec£i¥ed a nunknr ofaWKabons. tnth over 125 icants from over 20 countries. S finalists cornpeted in the final perfOa[e in the Festival. The vAnner of the first prize. supported by the Came Trust, was exander Chance. counter4enor. and the SerAd wize. suppcvted by Samir Savant in mernory of Michael Ewarf went to Mèih Li. Thè Audiènce Piiza wa5 awarded to AXar Chance. All fbnalists were as usual warded reutsis and app8aranc85 In laler Fesbvajs. L•aming, Partlelpallon and Engagefflenl 2022 saw the continuèd devdopment of the Sctws WTh'ng and parbcipakn work. Thi5 induded the retum of the popular 'Ccxne and Sing. even( HadenSpired guhled walks aTrS lo. plu5 a new free-to-atterKI behind the Sne$. seiies. In 2022 the Souety also began to dèvèbjp its Partnershtp wtih Corarn. of the UK'S laTgest tharilies detlicated to the support ol disadvantsged young people. The partnership 15 arned at prov¥JirYJ chadren ofprirnary school ag$ with aecEss to dassical rnusic, wxluthng gxp¢rErKry rfOrManCe of Hw¥Jel's music tr thg first tsme. Poge 3
LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Donors We conb'nue to be reliant on ts svpport of am our gererous donors. bKJ small. aThY rernain IleeFly grateful for their support durirvj what continues to be an eptiOnallY difficdt penod for the Festival. WKI the arts in general. In 2022 four donors jgined Ihe hvJhest tsers ofow annual subsuipbon scheme aThJ don8tion$ to 5UPP)rt the Handel Singing Cornpetitson continued. staffing The overall de¥efcwent and management of the Festivafs acbvths ar&1 operab"rs Q)nbnues to be undertaken by (he Festival Director. Gwory Batsleerwho has teen post Sir October 2027. The Fesbval Director 15 SUPPOrte<l by a 5rn811 team of freeian¢e rnernbers of staff who work to SUPF%Jt hin m weas such as fvndraising. marketing and offiGg administration. Volunteors Th8 FestNal s activib•s ar• aso supported by a of volwthts assist TMth frOntf4Se and other activities. Trustees remain 9ratethJl to trn an for tre'r siworL Golng Conurn After makirrfJ appIrialt enqrs, and desprte Ihe effed of Ihe Covid-19 pandemic vthich materially affethd the 2020. 2021 and 2022 Fesb"vals, the TnJstyes have a asonable expe£ation Ihat the Sotsety has adequate resources to conb.nve in operational existen¢x for the foreseeable fvt. F this reason. li cA)ntsnues to adopt the gtyng concern basis in preparin9 the finanrial statements. Further delaifs regarding Ihe adoptwi of Ihe 90iTrJ ¢xJn¢em ba&s can be found in ihe Accounting Pole9. FINANCIAL REVIEW A Slatement of Financial Acbwties i8 induded on pa9e 7. N¢t incom? for the y¢ar. after taking into accounl unreali8ed on inveslmgnts. wa5 £21,964 12021.. £56,542). Total income for the year 8m¢)unied to £376,233 12021". t259.523}. and tolal xpènditure amounted to £366,618 12021.. t219,4791. An irKtsas in in¥estmtrnt ¥ahJes sU0 in unrealised gain5 of £12,34912021." £16,498). Income of£724 was earne¢J duriryj the yeai lAStm(202I." £271. Totsl fvnds at 31st Dewter 2022 amounted lo £296.60812021: £274.6441. Of these. £118.194 we uNe5tricted12021.. £103.5791. £Nil restri¢1(2021.. £5,0(Kll aTrJ £178,414 rèlated to the eThJOnent{2o2l.. £166.0651. R•seN•s policy The Reserves Polw vsas last revewed aNI aFvroved by the Trustees in Aw"12023. Going forward. the Trustees have conduded that the Socty's reserves shovkl not fall bd¢yw 25% of prqected at)nual inoyne. In calculating 'minimum reserves.. sInC¢ed funds will not te induded ILmb5s the ¢Jw has a9d that the fvnds may be L¢sed for the 9eneral frjndirg of the Sooety in an emergency). Major Donors and Supporter5 The Society wshes to exwBss to al ts don5 and suFp(wrs lor ¢hew continuing 9enerosity, including in parbDJlar the followng major dtsr. . Tho Britford Bndg8 Twst . London Hand81 So¢ty Endorait Fund~ FrAJndiMJ Gift in Memcrfy of trknvard and Nan Hopknn . Arts Countsl England . Samir Savant in memw ol Michael Ewart . Maria Bjomson Mamorial Fund Page 4
LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 . Gll%ela Graham Foundabon . Darwin Escapes Phillip Came . D'oyly Carte Charitabk Tntst ' Fide&o Charrtab TDJst Members of the Directorfs Cirde. Gokl Palmns. Patror "e. Festival Belad0 aThJ Assocth Benelaciors and the Friends of Ihe London Handel Soo"ety. OBJECTNES FOR FUTURE PERIODS The main objective fgr future perirJ$ contlnues to be to Mainta the mv5ical and arbslic integrity ol the Festival in support of the objectives of the Society. while reco9nwr@ the need to ensure that the SO¢ty.$ resoures are managed responsibty. This is lo b8 3chiev8d by 8ngag8rnentwith frnds and supporter5 and by arrangin9 luture fvn(kraising events. This repJrt has been prepared ift accordan the wcol wovisths ol Part 1S of the Companies Aet 2006 ielatirvJ to small companiès. statement ol Trustees. responslbllities The Trustees a 4)Qnsible lor th8 Tntstees. ReFyt and the financd slat•ments in acc4)rdance applible law and United Kiwlom A¢untrng StaThJarts lUted Krr¥•lom Gerwally Aoxptetj Aw)untin9 pract). The law applicable to chantie5 in England & Wak5 requires the Tru5te85 to prepare finanual Statements for •ath financial year whith give a true and lawview ofthe stste of affai ofthe Charty and ofits incorniTrJ resources and application ol resources, indudiry rts income aThJ èxpanditure, fof that penJ. In weparirvj thasè finantsal statements, the Trustees are requi to". select suitable ateounthro pdi¢Es and then appty them eonsisterrfy. observe the methcrtjs ark1 prinriples of the ChaNies SORP IFRS 1021.. make judgments and accountsng estmates lh are reasonable and wudent.. state whether applicabk UK ACCntij Standards IFRS 1021 ha been foNtrAed, subj.ect to any material *Jepartures disdosed and explained in the fincial statements.. prepare the financial ststernents on the 9n9 concem basis lesS r( is inaFvropriate to presu Ihat th8 Charity wll corttinua in business. The Trustees a le¥n$le for keeping adequate accountin9 records that are Suff"ent to shrm and explain the Chanty's transactions and disclose wth 8$Onable a¢oJraw at any bme the financaal Pos0 ofthe Chanty and enable thern 19 eftsU that the finarrftal Statements ccynpty 7Mth the Chantes A¢t 2011. Ihe Chaftty (Accounts and Reports) Regulations 21x18 and the prow$n5 of the Trust deed. They also re$Sie lor safeguardirg the assets ofthe Charity artrj hen¢e for takn'ng rea$onabb steps for th8 PvenI)n and detection of fraL and other irregularities. Approved by order of Iho membws of the b)ard ofTnJstees and swjned on their behawby". R H Hopkln (Chair of Trustees) Date.. 26-Sep-2023 Page 5
Docustyn Envelwe ID. Ab£864431OI1-AI4446D LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) MENZIES 8RIGHTEA THINKING INDEPENDENT EXAMINERS, REPORT Ind•p•nd•ttt •xarnln8rfs weport to th• Trusts•s of London Handfrl Socioty Llmlted fthè Compan) I report to the charity Trustees on my exarninabon of Ihe xo)unts ofthe Company for year ended 31 Decernber 2022. Responslbllltles and basis of report As the Trustee5 of the Crynpany its directcs for the pur)$6$ ofoynpwry lawl you arg respsIble for the preparation of the accounts in ¥cc4rdance wlh the requirnents ofthe Conwr#es At# 2CrtJ6 2(6 Ad). Having satisfied mysew that Ihe accounts ofthe Company art r•ouired to be audited under Pwt 16 of the 2CQS Act and are eligib for iThJependent examinabon. l p(t in $¢1 ol my exaMin"0n of the C¢panIS accounts carried out under section 145 of the charib.es Acl 2011 Cthe 2011 Acri. In carrwng Lmrt my exarninabon I he followed the DirectKJns givers by the Charty Commission vnder sects)n 145(5Xbl Oft 2011 Independnl •xarnSnerfs statement sin the gross inc4rne exceeded £250,Cts) Jwexamirv must l)• a m•mb•rol a bc listed in s8elion 145 of th• 2011 A. I confirrn Ihal l am quffied to undertake Ihe examination beca l an a membtr of lnsth.tutè of Chartered Accountants in ENJland and Wabes, which is one ofthe listed tles. I have corneted my examInall I confinn that rn matlw5 ha to my attèntion in eonnèthon with the examinab.on giving me cause io bdYve'. accounting records were not kept in respeca ofthe cLYnp¥ as by 5e¢tion 386 01th9 26 Ac£ or the accounts do not a¢cor(I wth Ords.. or the accounts do not ccffipty ¥th the accountiThJ requirernents of section 396 of the Ad tsthBr than any requ1ment that thè accounts give a ue view whith is a matter ¢onskYered as part of an ir¥Jependent examination", or the actounts have not been prepared in amvdance ilh tre meth&as and w1ncle5 of the Statement ol Re¢ommended Practice lor accounting and reportsng by tharit$ {apiCae to charities preparing their accounts in a¢cordance with Ihe FinarKial ReP)rThJ Standard apptuble in the UK and Repubkc of IrelaThS IFRS 10211. I have no tr)neernts and have cornt auoss no other mattws in ¢onnecth)n vrith Ihe examination to which 8ttenb.on should be ijrawn in this port in ordef to enable a prcyer undetstandir¥J of the acts)unts to be reached. This report is made sdety lo the C(rfnpanVs Twustees. as a b(#Jy. in aOrdanc with Part 4 of the Charits IAccounts and Reportsl Regulab'ons 2008. My wNk has been undertaken so that I mvJht state to the Compan$ Trustees those matters I am required to state to them in an indepernlent exarninefs report and for no tsther purpose. To the lullest extent pemitted by Law. I da not accept or a55e reSponrtY io anyom olh8rthan tho Crnany aThJ the Comps Trustees as a body, Iof my worfK or lef this Signed.. 26-Sep-2023 Janice Matthews FCA MenzY&s LLP C•rttrum Housé 38 stats.on Roail Egham Surrey TW20 9LF Pa9e 8
DouJShJn En%*lope ID". AAB86CW43(HD4l-A444-6EBE60 LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022 Endo¥mKnt Unrestrfctsd funds funds 2022 2022 Total funds 2022 Total fvnds 2021 Income and endovrnents from: Donations and legacia$ Chantable actie$ Investments 241,746 133.763 724 241.746 133.763 724 221,758 37,738 27 Totsl Income and ¢ndo¥•The•)ts 376.233 376.233 259,523 Expendlture on: Raing luTrJs Charita• acliviti8S 35,471 331.147 35A71 331.147 lQ.7J9 208.740 Total expendltur• 366.618 366.618 219.479 Net Income befor• nel galns on Investments 9.61S 9,61S 12.349 40,044 16,498 N•t gains on invastrn•nts 12.349 N•t mov•m•nt in funds 12.349 9.615 21.964 56,542 Re¢oTh¢lllaUon of funds: Total funds brought fard Net movement in fvnds 166.lJ65 12.349 108.579 9.61S 274,644 21.964 218. 102 56,542 Total funds earrted lorwanl 178A14 118.194 296.608 274,644 Strtement of finan(aal aCtsbe$ inrjth 4 gwns k)sses reci>Ji¥sed in the >Ear. Th? notes orh paw 9 to 17 fomi part oftlwe finarKial $latem8nts. Pagg 7
DooJSvan Envelo Kl". AAB86C#j3D4Ith4wAE29I6EBE6D LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) REGISTERED NUMBER." 01193919 BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Flxed a$sets Instrrt•nts 12 17B.423 166,074 178A23 166,074 Cyrr•nt•$s•ts Stocs loo 39.740 137.393 Debto Cash at baThk and in ha 13 9155 124.727 218,282 177.233 Creditors.. OUnts falliNJ du• 4vthin one year 14 19QO97) {68.663) Net eUTrtnt assets 118,185 108.570 Totsl assets less cuTh¢nt lknbllllle$ 296,60 274,644 Totst net asstts 296,608 274.644 charity funds Endwment fvTrJs Unrestricted fijnds 166,065 108,579 118,194 Totsl funds 296,608 274,644 The Company wa5 enlthd tts Èxenytion from aLhthl seclion 477 ofthe Companies Act 2(¥)6. The rntrnbtrs have Trot wuired Ihe compary to obtain an for the year in qS"¢n in oecordance section 476 of Companies Act 2OJ6. The Trustees acknTr18dge Iher resp11th9 for oJnk4yir9 th requirements of the Act respeet to accounting TOrdS and preparab.on offinanaal ststeffnts. The financial statements hav• teen wBparEd in SOrara wrth Ihe prwson5 applicabl8 to entilies Subje to the small eornpani8s regirnè. The fin¢la1 statements We aprVe(l aThJ aLrthortsed Sx issue by trrt Trustees and wned on bèhaw by.. R H Hopkin {Chair of Trustees) Date". 26-Sep-2023 The notes on pages 9 to 17 fonn part ofthesa firhanu statemenls. Page 8
LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Gtneral Infonnation London Handel Sotsety Limitèd is a ccfflpany lirnrted by guarantee in¢orpornted in England and Wales under the Companies Act 20C6. The a(kJress ofthe registered offics is given on page 1. The pTrncipal attivths of the company and th• nabjre ol fs OFeralions are setoui in the Tru5te8s' Report on pag•s 2 to 4. Accounting pokles 2.1 Basis of preparallon of Ilnon¢O•l statements The financial ststements have been prepar8d in attordants wth the Charits SORP IFRS 1021- ACcoun'n9 EJ Reportir¥J by Charrhes". Slatement of Recommended Practice applKabk to charitEs preparing Iheir a¢nts in accordants the Financial Repth"rvJ StaThJard applicab in the UK and Republic ol Ireland IFRS 1021 lffe¢bve 1 January 20191, the Financial RePo"n9 StsThJar¢ applb in Ihè UK and Republic of Irdand (FRS 1021 and the CLympaThes Act 2. London Handel Socty Limrted Its the definition of a Publ benefft entty un¢Jer FRS 102. As$ets and abilities are initsalty reSe¢r at htorical or transaclion unl8s5 othewse staled in the leVant accounting pdy. 12 Golng concern After rnakry appropriate enww. tr bwstees ha¥e a reasonable exFe¢tstion that the charity has adequate resources to enable to conb.nue in operatn81 Stence for the foreseeab futu. Trrefore the trustees b81iève that going con¢xm basis is appropriate and have prepared the acwltnts on the goir9 ¢oncem basis. 2J In¢ome All income is mcognised once the Ccmpany has entilthent to the wKtyne. it VJ probabl• that the income wll be received arm1 the amount of income r1vatIe can meastThJ rdiabty. 2A Exp•ndl¢ur Eynditur8 15 rgcognised once there 15 a kgal or construth.ve oblw.on to transfpr econcfflic benefit to a thir party. it ts probable that a transfer of economic benefits Mll be lled in settlement and the amount of the ob¢i9ation tan bè rnasur•d relw. Ewwjthire is dassffjed by actIty. The costs of each actiwty a made up of the total of direct costs and shared costs. indtyjirrtj support ¢xJsts involved undertaking each acliwty. Direct costs attributable to a single acbvty a alk)caW directty to that athvty. sha costs which cDntntxrte to more than one a(*vty anLI support o)sts which are not attritrAJtable to a single activty are apportied betsveen those actiwb.es on a basis cOnStent with the use of resour$. Central staff costs a allocated on the basis ofbme spent, and ¢Jepreoab"on char9es allo&ed on the pothn of th? asset's use. Eyndthre on raisiThJ fiJTrJs indudes an eXpeThjrtu irturred by the Cornpany to raise fvThJs ts its tharitable purposes aThJ indudes t))sts of luThYraisir¥J acivitEs nts noTrtharilable Iradirg. Expenditure on Charitab actiwties is inojrred on directly undertthng the xtsmties whth fvrther the Companls oti"e¢tsves. as wdl as any a$slated SYPFOJrt costs. Page 9
LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting poll¢le$ {¢onllny•d} IS In¥•slm•nts Fixed asset invesbments a a fonn of financial instsument and are inTb"alty reco9nised at their transaction cost and subsequentfy Measu al lair value at Ihè balan sheet date. unless the value cannot be measured reliabty in which case it is measured at cost ress Impalmnt Invesbment gains and Josses. whether alISed or unrealised. are and presentsd as 'GaiWILosses) on in4wbments' in the staternent ol financial activities. In¥•stments in $ubsYiaritis ar• valu•d at COSI kss prow5ion for inpalmnt 2.6 Stocks Stor$ are Vall at the Icrer of c05t and net asable value after making due allowance for obsoletè and sIow-movin9 Stocs. Cost indude5 1 direct costs and an appropri propryb'gn of fixed and variablè overheads. 2.7 Finaneial instrunwnts The Cornpany has ffinanoaj assets and finanoal liabilths of a knnd that qualify as basic financial tnstrlxnents. Basic fin8rKial in5truffnts are In.[V recogntsed at tr8nsaction v81ue and SLtbsequenly rneasured at thr seittement value vAth the exception of bank loans whK are subsequenty m8asurad at 8rnorti5ed cost using ihe effeth.ve intefe5tmethod. 2.8 Fund accounting General lyTrJs are $tried fvnds lch are available for use at the di$¢tIon of Twstee5 in ffijrtheran oflhe genwal cèj'ectives oflhe Company al whh have Th)t been designated for other purposes. De$Thated funds conwrise unrestricted th ha¥e be set asidè by the Trustees for particular purposes. The am and use ofe*i desIated fUj is sat out in thè notas to thè ffinanoal statements. Invesnt income. gains and b)5ses are all(ted to tha approkThte fund. Income from dtsnatlo and legae5•8 Unrestricted funds 2022 Total funds 2022 Total 2021 Donath?ns Leuatses 222.361 19.385 222.361 19,386 221.758 241.746 241.746 221.758 Totsl 2021 221.758 221. 758 Page 10
LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 In¢om• from eharitabh attlviliès Unr¢$tricted funds 2022 Total funds 2022 Tokl funds 2021 Tke1 sales Singin9 Competthon entries Other musical perfom)an 83,333 63.333 4.480 45,950 20,212 7,268 10.2S8 133.763 133,763 37, T38 Total 2021 37.738 37, 738 Inveslrnent incorne Unrestrlcted funds 2022 Total funds 2022 rot fvnds 2021 Deposrt acc(¥Jnt inter•st 724 724 27 rotal 2021 27 27 Expenditurn on rai$ing fund¥ Fundral$lng tr•dln9 •xpens Unrestrleted lund$ 2022 Total nds 2022 Total funds 2021 Printsng and PUblty Fundraising costs 30.772 4.699 30.772 4.699 10.523 216 3S.471 35N71 lQ.739 Tot812021 10, 739 10,739 Page 11
LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 An4fysis ol•xponditur• on ch•ri¢abh activltles Sumrnary by fund type Unrestri¢ted funds 2022 Total 2022 Total 2021 Charitab18 actilS 331.147 331.147 208,740 Total 2021 208,740 208, 740 AnatrJFl$ ol ?xpendltyr¢ by•¢tlvltkn undertaken dir•eity 2022 Support eosts 2022 Totsl lund$ 2022 Total funds 2021 Charitab18 a¢bvit 233.251 97.3 331,147 208, 740 Tot81202Y 115,356 93,384 208,740 Anatysl$ of dir•et eosts Total funds 2022 Total Aclmtbes 2022 2021 Ccfflpetst Costs Musicians. fees Venue & other hi ctssts 15.652 180.946 19.600 17.053 15.652 180.946 19.800 17.053 37,84T 57,5q3 10,579 294 Other Recordiros 15, 123 233,251 233,251 115,356 Tot312021 115.356 115.356 Pag• 12
LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 An•tysl$ of expendlture by 4t¢dvrtle$ {¢ontknuod) An•lysl$ of Support costs Totsl funds 2022 Total Activities 2022 2021 Stsff costs Administratef k&s 48.488 24.*2 317 48,488 24.562 317 200 1.024 12.522 1A83 9.31)0 48.2fO 18,363 2, 75T 1,661 1.062 12. 192 953 Bank charges Website Insurance Box Office Systgrn Costs 1.024 12.522 1.483 Govemance costs 8. 186
?. 97.896 93.384 Total 2021 93.384 93.384 Ind•p•nd•t •xamloerfs rem¥nprnlits 2022 202f Fees Payab to the c¢•npl$ ind•Fndent examw*r ts the irKlependtnt exarninab.on ofthe C¢)rwnls amual accDunts 3.900 10. Staff Costs 2022 2021 Wages and salaries S¢xial SetY costs ContsIbutn to defined c0nlthtir penwon schemes 42,870 4,564 1.054 43,282 4. 195 733 48.210 Page13
LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 1Q. Staff costs {continuedl The average numbef ofptrtsons empbjyed by Cc•npany duThYJ yearwas as fol(Ms'. 2022 No. 2021 No. EmF4oyees No emWoyee received remunerabon amounb.ng to more Ihan £60.0th) in either year. 11. Truatees. remunoratlon and exn88# The Yds no remuneralion paid, n¢f other benefits provthj. to Tntstees eler tho yew entsj 31 Deber 2022. nor fu th• Y•ned 31 D•c•mb•i 2ffd1. Durin9 the year Trustees rlEd reinbulsent OfempereS tolaliThJ £1.786131st D•e•mbtrr 2021". £721. 12. FIX #$*•t invostrnent# Investment Sn London Handel Listed Festlval LlrnÉltd Investments Total cost or valuation Al 1 Januory 2022 Revaluation5 166.065 12,349 166.074 12.349 At 31 oember 2022 178,414 178.423 N•t book wa¢ At 31 O•temr 2022 178.414 170.423 At 310ecembef 2021 166.065 166,074 Page 14
Do$[ Envdope ID.. me88(WDI1.AlIE296E8E46D LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 13. Debto 2022 2021 Due vAthln one year Othèi dabtois ppayMents and accrued inccffia 66,451 2S,104 37,061 2.679 91.555 39.740 14. ¢dItOrs. Amounts lallng due Tlthln on• y•ar 2022 2021 Trade creditors Other ¢reditW5 Aecwals and ¢Jeferr•d incthn• 4,590 13,434 80,073 21,044 47.619 98,097 68.663 2022 2021 D•larred incorne at l Januwy 2022 Res¢iurces d•l•rr•d during tha ar Amounts leaSed from pwous perio¢Js 18.367 $8,730 118.3671 62,401 f8.367 (62.401) 68.730 18.367 15. Sunwnary offund$ Summary offunds- ¢urTrnt ar Balance at 31 Dt¢embr 2022 Balance at 1 January 2022 Gairtsl IL05s•s} Incorng Exp•nditur• Oesignattd ffiJTras- 2023 FestN General funds ETrJowTnent fiJryJs 19,385 19,385 98.809 178.414 108.679 166.065 {366.6181 12,349 274,6d4 376.233 {366.6181 12.349 296,608 Page 15
LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Summary of funds (continued> Swnmary of lunds- wior year Balance al l January 2021 Balan¢9 at Goin 31 De¢ember (Losses) 2021 Gera1 fijnds Endonen1 fvnds 68.535 149.567 259,523 (219.4791 108,579 166,065 16,498 218.102 259.523 1219.479) 16.498 274.644 16. ATr•fysls of n•t•ssets beiwTr lunds Analys1$ of n•t ¥$8•ts bgiw••n fund$- Curr1 y•ar endownent LlTrrestrJ¢ted funds funds 2022 2022 Totsl funds 2022 FWJ a59et investrnents Cwrent assets Crnditor$ vnthin on• year 178.414 178.423 216.282 198.0971 216,282 198.0971 Total 178.414 118.194 296.608 Analysls of netsuls boiween funds- pOr y•ar Endowment Unresfn'oled nds 2021 Tolal funds 2021 2021 Fixed asset investmenls Current assets crgth.lors due within on? ygar 166,065 166,074 177,233 (68,663) IT7,233 (68,663) Totsl 166,065 108,5T9 2T4,644 Page 18
DocJJSrs Eft10pe ID." AA88&0143J41A1WAE29I6E9E6o LONDON HANDEL SOCIETY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 17. Endowment & material k9a¢ies The Society has established an endowment fund. follwrg a 9ift in 2017 to help underpin its long-tem financial ndon. It is hcped that the fund grow over fviure years. both frcvn investrnent income and from the addition gf fvture dOnatiC$. No addrtx)ns to Ihe end¢>rt hMKI m•Je during the year. The Board has appointsd an iThJepeThtsnt asset rnanager. Ruffer LLP. to mana9e the fvnd. The app)intmenl is subject to an Agernent betren the part. Ruifer remuTherated on the basis of the value of assets under management, and reve$ no other remuneratw. Cont5ng•nf a$S•ts Ouring the year, the Society wa5 nolified of a possbi [8 58gacy. The valth of the legacy cannot be reli3Y measured and has theI(e not Èeen included wthin the ffinanaal staiements. tsnly be recognised when the amount can be measured reliBbly or on r8¢0iPt of Ihe fuThJs. 1h it Cannot be exacty delerminad when the amount wll be ceNed li is expected this wll be wthin Ihe n•xt 12 to 18 months. 19. Related party trans•¢llry The figu for Oonations urxlèr Unrtstri¢Jed Fts indudes dc¥)ations trustees anUnting to £21,600 12021."£14,3031. There were no other Rdated Party Transacborts peri¢xl12021.. £Nil). Pa9e 17