**REGISTERED COMPANY NUMBER: 01262387 (England and Wales) REGISTERED CHARITY NUMBER: 271765** 

## REPORT OF THE TRUSTEES AND 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 

## FOR 

THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

Malthouse & Company Chartered Accountants and Statutory Auditors America House, Rumford Court Rumford Place Liverpool Merseyside L3 9DD 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 

||Page|
|---|---|
|Report of the Trustees|1 to 9|
|Report of the Independent Auditors|10 to 13|
|Statement of Financial Activities|14|
|Balance Sheet|15|
|Cash Flow Statement|16|
|Notes to the Cash Flow Statement|17|
|Notes to the Financial Statements|18 to 29|





THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

The charity's object and principal activity continues to be to promote, maintain, improve and advance education and the encouragement of the arts, by the presentation of musical performances and educational activities. 

The charity’s mission is to engage, entertain and inspire audiences with virtuosic performances of Baroque and Classical music by bringing together the finest musicians, singers and creative artists in other fields and to create education activities that encourage future generations to deepen their experience and knowledge of music. 

The English Concert aims to: 

(i) Promote artistic excellence in baroque music nationally and internationally, 

(ii) Be a world leader in the delivery of imaginative dramatic opera performances, 

(iii) Develop an awareness and appreciation of Baroque and Classical music and its associated art forms  amongst children and the general public. 

In fulfilling these objectives during the year and in planning the charity's activities, the trustees have considered the Charity Commission's guidance on the public benefit requirements of Section 4, Chapter 1, of the Charities Act 2011, including the guidance on public benefit and fee charging. In setting the level of fees, charges and concessions, the trustees give careful consideration to the accessibility of the performances and activities for those on low incomes. 

Page 1 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021 

## **OBJECTIVES AND ACTIVITIES** 

## **Significant activities** 

Our activity was punctuated by the effects of the Covid 19 pandemic, with significant tours cancelled both in the UK and internationally. We responded creatively, implementing schemes to expand The English Concert's reach, primarily with recordings but also with performances that could accommodate a live audience whenever possible, whilst adapting to a constantly evolving situation. 

All government safety protocols were followed. We are pleased to report that thanks to the combined efforts of our staff and musicians, no Covid 19 cases were reported during any of our productions. 

## **Cancelled activity** 

Most of our pre-scheduled performances for the year were cancelled. These included a run of Mozart's Mitridate at Garsington Opera, Bach's Magnificat at Wigmore Hall and Bristol, Handel's Messiah with Trevor Pinnock, and an international tour of Handel's Tamerlano that would have seen performances in New York (Carnegie Hall), London, Pamplona, Paris and Vienna. A tour of Bach Cantatas with the RIAS Karmmerchor with performances at the Leipzig Bachfest and other locations in Germany was also cancelled. 

## **Recordings** 

In September, we recorded Handel's Rodelinda at St John's Smith Square with the same cast we had engaged to perform it on tour in May 2020. Linn records released the recording in the Spring of 2021 to critical acclaim. 

At the end of March 2021, we filmed Handel's rarely performed sacred oratorio La Resurrezione from St John's Smith Square for broadcast on SKY Arts with support from the KT Wong Foundation. The performance reached 61,000 viewers. 

We had planned to record Handel's Tamerlano in April 2021 as a follow up to Rodelinda. The tour cancellation and ongoing travel restrictions meant that several soloists could not join us and forced us to change the programme. Instead, we recorded Handel's La Resurrezione at Sage Gateshead with soloists Lucy Crowe, Sophie Bevan, Iestyn Davies, Hugo Hymas and Ashley Riches. This recording is scheduled for release in April 2022 on Linn Records. 

## **Live-streams** 

In October 2020, we presented Britain's Orpheus, a series of six live-streamed concerts from historical locations around the UK celebrating the two great pillars of English Baroque music, Handel and Purcell. This series allowed us to connect with The English Concert's audience worldwide through a rich selection of music, including a newly discovered piece by Purcell. The series received over 33,000 views online. 

During the subsequent lockdown, we returned to Wigmore Hall to record a live concert featuring works by Purcell, Bach, and Erlebach with Kristian Bezuidenhout. This programme aired on 2 March. 

As part of Bath Bachfest, Laurence Cummings directed The English Concert in a programme that included Bach's 4th and 5th Brandenburg Concerti. The performance was live-streamed from the Wiltshire Music Centre on 20 February. 

Page 2 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021 

## **OBJECTIVES AND ACTIVITIES** 

We filmed Handel's Acis and Galatea at the Asylum Chapel, Peckham, 11-13 June, which will be streamed as part of our new "Handel for All" series. 

## **Performances with a live audience** 

There were windows of opportunity throughout the year that allowed us to present performances to a live audience. 

In October 2020, we presented three of the six programmes of the Britain's Orpheus series to a live audience. Our only overseas concert in the year in Schwerin (Germany), directed by Kristian Bezuidenhout, received a  live capacity audience. 

Our first post-lockdown concert took place at Wigmore Hall on 6 June. Elizabeth Watts (soprano) directed by Harry Bicket, performed Bach's Cantata BWV51 in a programme including works by three composers of the preceding generation. 

We gave two sold-out performances at Kings Place on the 24 June in a programme with Iestyn Davies, conducted by Peter Whelan, celebrating Handel's London altos. The performance was streamed live on the Kings Place website (K-player) and recorded for broadcast on BBC Radio 3. 

We were delighted to resume our residency at Garsington Opera with a critically acclaimed run of seven performances of Handel's Amadigi. 

## **Education** 

Our 'Music minus one' project lays the foundation for a new digital strand that we will develop over the coming years. We recorded interactive films of well-known works that encourage direct participation from amateur musicians who can join in performing with the orchestra interactively. 

We also continued our 'One to One' scheme, providing young and amateur musicians with free virtual consultation lessons with our players, the first major UK orchestra to offer anything like this with 61 sessions to date. 

## **Critical Acclaim Selection** 

Rodelinda Recording Classical music chart - No.1 in the on its release 

BBC Music Magazine (Record of the Month) - the best-ever recording of Rodelinda. 

The Times (Record of the week) - Bicket propels the drama forward with inexorable momentum, his period band on top form. 

Gramophone (Editors' Choice) - [Harry Bicket] and the ever-responsive English Concert relish without indulgence the sensuous beauty of Handel's textures. […] this new recording, more subtly directed and more consistently sung, now becomes my top recommendation. 

BBC Radio 3 Record Review (pick of the week) 

Britain's Orpheus 

The Times - a stirring performance that melted hearts 

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## THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021 

## **OBJECTIVES AND ACTIVITIES** 

Amadigi 

The Arts Desk - The English Concert under Christian Curnyn made every shade glow as warmly or brilliantly as it should. 

The Spectator - The English Concert, who blaze with colour whether in the blood-red of military trumpets or the faded pastels of a pair of coaxing recorders. Dance rhythms are carved deep by lower strings, and the pit becomes the bubbling cauldron at the centre of Handel's musical spell 

Arts Scene in Wales - The English Concert under Christian Curnyn is the hero of the evening 

## **FINANCIAL REVIEW** 

The Statement of Financial Activities (page 13) shows a surplus of £19,455 (2020: £1,256) for the year and the Balance Sheet (page 14) shows accumulated reserves of £203,492 (2020: £184,037). 

Total income for the year was £589,342 (a decrease on 2020 - £679,087). 

The period showed a decrease in UK engagement income compared to 2019/20 from £412,816 to £78,648. This decrease was anticipated in the budgets for the current year, as the Trustees were expecting the effect of the COVID-19 outbreak to significantly affect the charitable company's ability to receive income. Support costs dropped slightly to £215,519 (2020: £270,630). 

Artists fees were decreased (£167,066) compared to last year (£242,987), with artist travelling also decreasing from £84,476 to £26,915, as a result of the COVID-19 lockdown. 

Any shortfall in income against these activities was again subsidised by grant and donation income, which the Trustees are continually looking to maximise. 

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THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021 

## **TRUSTEES RESPONSE TO COVID-19 AND FUTURE PLANS** 

The coronavirus pandemic was very prevalent during the performing year, impacting both the nature and quantity of the work undertaken by the orchestra. 

Governments reacted variously and unpredictably as variants of Covid-19 emerged, with continual changes to the applicable rules both domestically and in relation to restrictions on international travel. 

In such an environment, forward planning, which relies both on the availability of concert venues and rules permitting audiences to attend in economically viable numbers, became extremely difficult. 

As indicated last year, this necessitated a reappraisal of our approach and for the need to promote our own projects rather than relying wholly on events produced by third party sponsors. In turn, this required the exploitation of technology to convey performances to a wider audience base, both nationally and internationally. 

Such performances were essential not least to provide work for our musicians who, like others in the artistic community, were severely impacted by the consequences of the pandemic. 

However, self-promotions attracted little or no revenues, requiring us to enhance our fundraising efforts and to seek wider support. In this regard, we are very fortunate to have a strong funding base not only in the UK but also in the US, where a dedicated group of supporters under the umbrella of The English Concert in America (TECA) has raised significant amounts to sustain the orchestra and support its performance schedule throughout this difficult period. 

We would also wish to acknowledge the invaluable support provided both by HM Government through the Orchestra Tax Relief scheme and by the DCMS/ Arts Council England Culture Recovery Funds, which, in aggregate, have provided significant resources to underpin our own fund-raising endeavours. 

Collectively, and despite the very difficult external environment, these efforts prevented the orchestra from falling into a financial deficit for the year and enabled a small surplus to be recorded. Under the circumstances, this is considered a very satisfactory outcome. 

Prospectively, the impact of Covid-19 is progressively reducing, not least as populations in most developed countries are becoming more fully vaccinated, enabling, in turn, restrictions to be gradually lifted. However, this process is very uneven, varying from country to country. 

The prospects for international travel have improved significantly, but the logistics of achieving performances overseas remain complex, particularly in relation to pre-travel testing, required entry documentation and other restrictions. 

In less developed countries, vaccine programmes have reached only a minority of the population such that serious restrictions remain, making travel to such countries difficult or impractical. China is an example of this, where continuing onerous quarantine requirements effectively preclude travel. 

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THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021 

As live performances increase, we are able to reduce reliance on such methods as streaming in order to reach our audiences. However, such technology will remain very much part of our toolkit for use where appropriate. For example, in relation to our major new multi-year Handel Project, to record visually and aurally most of his extant works, performances will take place both in front of live audiences and as pure recordings which may be streamed. 

Overall, the environment for the orchestra is improving significantly, such that we are able to establish a near-normal performance schedule for the years ahead, which is very beneficial for our audiences, our musicians and for the financial health of the orchestra. 

Accordingly, the Trustees remain optimistic that we will be able to continue to create exciting performances of outstanding quality, bringing 18th-century music to an ever-growing domestic and international audience. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The English Concert (formerly P.E.C. Concerts Limited) is a company limited by guarantee, governed by its Memorandum and Articles of Association dated 10th June 1976 as amended to allow for current governance arrangements on 30th October 2000. It changed its name on the 27th August 2009. It is registered as a charity with the Charity Commission. In the event of the company being wound up the members are required to contribute an amount not exceeding £1. 

## **Recruitment and appointment of new trustees** 

The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. 

As set out in the Articles of Association, the Board of Trustees has the power to appoint additional trustees as it considers fit to do so. 

## **Organisation** 

Full trustee meetings take place quarterly. 

Trustees retire in rotation. An annual review of the Board’s composition is undertaken, following which new trustees may be sought or existing trustees re-appointed. 

Alfonso Leal Del Ojo is the Chief Executive of the English Concert . 

## **Induction and training of new trustees** 

An induction programme is followed for newly appointed trustees during which they are provided with an overview of the charity's operations and their responsibilities and receive key information regarding the constitution of the charity and its financial statements. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Registered Company number** 

01262387 (England and Wales) 

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THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021 

## **Registered Charity number** 

271765 

## **Registered office** 

One Bartholomew Close London EC1A 7BL 

## **Trustees** 

R Binks G Burnett Chairman A Gemes R Golding A Harley S Jennings N Oppenheimer J Reeve K Shimoda J Smouha H Tilney S Weil V Monk A Mendes (appointed 3.7.20) A Campbell-White (appointed 23.9.21) 

## **Chief Executive** 

Alfonso Leal Del Ojo 

## **Company Secretary** 

Broadway Secretaries Limited 

## **Auditors** 

Malthouse & Company Chartered Accountants and Statutory Auditors America House, Rumford Court Rumford Place Liverpool Merseyside L3 9DD 

## **Bankers** 

Metro Bank 1 Southampton Row London WC1B 5HA 

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THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Solicitors** 

BDB Pitmans LLP One Bartholomew Close London EC1A 7BL 

## **RESERVES POLICY AND RISK MANAGEMENT** 

The Trustees recognise that it is essential to maintain a level of reserves that is commensurate with the substantial risks of concert promotion and orchestral touring. These risks are reviewed on a regular basis in light of the charity’s commitments and available resources. The current minimum target for reserves is £150,000, which is equivalent to approximately six months fixed operating costs or, alternatively and in extremely unlikely circumstances, it represents a provision against the possibility of performance fees not ultimately being received on a large-scale artistic project. The Trustees reaffirm their intention to continue to add to reserves as the level of activity grows and the fundraising effort gains momentum. 

The Trustees continue to undertake regular reviews of key financial systems. 

## **RELATED PARTIES** 

None of our trustees receive remuneration or other benefit from their work with the charity. Any relationship between a trustee or manager of the charity with a related party must be disclosed to the full board of trustees. Any such transactions are included in the notes to the financial statements. 

## **PAY POLICY FOR SENIOR STAFF** 

All directors (trustees) give of their time freely and no director received remuneration in the year. Details of any expenses and related party transactions are disclosed in the notes to the financial statements. The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings. 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The trustees (who are also the directors of The English Concert (A Company Limited by Guarantee) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

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

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THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued** 

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

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

Approved by order of the board of trustees on 16 March 2022 and signed on its behalf by: 

G Burnett - Trustee 

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

## **Opinion** 

We have audited the financial statements of The English Concert (A Company Limited by Guarantee) (the 'charitable company') for the year ended 30 June 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 30 June 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

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

## **Conclusions relating to going concern** 

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

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

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

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

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

- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the Trustees has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. 

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

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

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

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

## **Our responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: 

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; 

- we identified the laws and regulations applicable to the charitable company through discussions with trustees and other management, and from our commercial knowledge and experience of the charitable company's sector; 

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company; 

- we assessed the extent of compliance with the laws and regulations identified through making enquiries of management and inspecting legal correspondence. 

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: 

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; 

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. 

To address the risk of fraud through management bias and override of controls, we: 

- performed analytical procedures to identify any unusual or unexpected relationships; 

- tested journal entries to identify unusual transactions and investigated the rationale behind them; 

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias. 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: 

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## REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

- agreeing financial statement disclosures to underlying supporting documentation; 

- reading the minutes of meetings of those charged with governance; 

- enquiring of management as to actual and potential litigation and claims; 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 

Guy Playfer BA FCA (Senior Statutory Auditor) for and on behalf of Malthouse & Company Chartered Accountants and Statutory Auditors America House, Rumford Court Rumford Place Liverpool Merseyside L3 9DD 

31 March 2022 

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## THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

## STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2021 

|Unrestricted<br>fund<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>332,876<br>**Charitable activities**<br>4<br>Income from the operation of concert<br>orchestra productions<br>78,648<br>Sponsorship of concert orchestra productions<br>-<br>Investment income<br>3<br>1<br>Other income<br>29,193<br>**Total**<br>440,718<br>**EXPENDITURE ON**<br>Raising funds<br>5<br>-<br>**Charitable activities**<br>6<br>Expenditure from the operation of concert<br>orchestra productions<br>421,263<br>Ex gratia payments<br>-<br>**Total**<br>421,263<br>**NET INCOME**<br>19,455<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>184,037<br>**TOTAL FUNDS CARRIED FORWARD**<br>203,492|Restricted<br>fund<br>£<br>148,624<br>-<br>-<br>-<br>-<br>148,624<br>-<br>148,624<br>-<br>148,624<br>-<br>-<br>-|30.6.21<br>Total<br>funds<br>£<br>481,500<br>78,648<br>-<br>1<br>29,193<br>589,342<br>-<br>569,887<br>-<br>569,887<br>19,455<br>184,037<br>203,492|30.6.20<br>Total<br>funds<br>£<br>202,434<br>399,871<br>12,945<br>41<br>63,796|
|---|---|---|---|
||||679,087<br>4,500<br>666,018<br>7,313|
||||677,831|
||||1,256<br>182,781|
||||184,037|



The notes form part of these financial statements 

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## THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

## BALANCE SHEET 30 JUNE 2021 

|Unrestricted<br>fund<br>Notes<br>£<br>**FIXED ASSETS**<br>Tangible assets<br>13<br>1,272<br>**CURRENT ASSETS**<br>Stocks<br>14<br>200<br>Debtors<br>15<br>130,043<br>Cash at bank<br>248,014<br>378,257<br>**CREDITORS**<br>Amounts falling due within one year<br>16<br>(176,037)<br>**NET CURRENT ASSETS**<br>202,220<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>203,492<br>**NET ASSETS**<br>203,492<br>**FUNDS**<br>17<br>Unrestricted funds:<br>General fund<br>**TOTAL FUNDS**|Restricted<br>fund<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|30.6.21<br>Total<br>funds<br>£<br>1,272<br>200<br>130,043<br>248,014<br>378,257<br>(176,037)<br>202,220<br>203,492<br>203,492<br>203,492<br>203,492|30.6.20<br>Total<br>funds<br>£<br>1,982<br>200<br>129,327<br>109,251<br>238,778<br>(56,723)<br>182,055<br>184,037<br>184,037<br>184,037<br>184,037|
|---|---|---|---|



These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. 

The financial statements were approved by the Board of Trustees and authorised for issue on 16 March 2022 and were signed on its behalf by: 

G Burnett - Trustee 

The notes form part of these financial statements 

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## THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

## CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2021 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Interest paid<br>Taxation refund<br>Net cash provided by operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Interest received<br>Net cash used in investing activities<br>**Change in cash and cash equivalents in**<br>**the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end of**<br>**the reporting period**|30.6.21<br>£<br>139,976<br>-<br>-<br>139,976<br>(1,214)<br>1<br>(1,213)<br>138,763<br>109,251<br>248,014|30.6.20<br>£<br>(61,543)<br>(8)<br>94,761<br>33,210<br>(1,746)<br>41<br>(1,705)<br>31,505<br>77,746<br>109,251|
|---|---|---|



The notes form part of these financial statements 

Page 16 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2021 

## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|**ACTIVITIES**||||
|---|---|---|---|
|||30.6.21|30.6.20|
|||£|£|
|**Net income for the reporting period (as per the Statement of**||||
|**Financial Activities)**||19,455|1,256|
|**Adjustments for:**||||
|Depreciation charges||209|1,435|
|Loss on disposal of fixed assets||1,715|-|
|Interest received||(1)|(41)|
|Interest paid||-|8|
|Increase in debtors||(716)|(73,593)|
|Increase in creditors||119,314|9,392|
|**Net cash provided by/(used in) operations**||139,976|(61,543)|
|**ANALYSIS OF CHANGES IN NET FUNDS**||||
||At 1.7.20|Cash flow|At 30.6.21|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|109,251|138,763|248,014|
||109,251|138,763|248,014|
|**Total**|109,251|138,763|248,014|



## 2. **ANALYSIS OF CHANGES IN NET FUNDS** 

The notes form part of these financial statements 

Page 17 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 

## **1. ACCOUNTING POLICIES** 

## **BASIS OF PREPARING THE FINANCIAL STATEMENTS** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by  Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 

## **INCOME** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income: 

## **Donations and legacies (including grants)** 

These amounts are included in income when receivable, except when donors specify that amounts given to the charity must be used to defray the costs of a specific event or activity, in which case they are included according to the date of that event or activity. 

## **Charitable activities - operation of concert orchestra productions** 

The company is a service providing charity. Its income from these trading activities relates essentially to the fulfilment of its charitable objects. These amounts comprise fees receivable from engagements, records, tickets and programmes sold together and promotional receipts to defray the cost of recordings undertaken. They are included according to the date of the related activity. 

## **Charitable activities - sponsorship of concert orchestra productions** 

Amounts are included in incoming resources according to the date of the event for which they are specifically intended by the sponsor. 

## **Investment income - interest on deposit account** 

Investment income is recognised on a receivable basis. 

## **Other income - royalties** 

Royalties are included according to the date they were receivable. 

## **Other income - orchestra tax credits** 

The charity receives orchestra tax credits from HMRC based on the losses made on orchestral productions. This income is included annually for completed performance runs. 

continued... 

Page 18 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 

## **1. ACCOUNTING POLICIES - continued** 

## **EXPENDITURE** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on  an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. The following specific policies are applied to particular categories of expenditure: 

## **Raising funds** 

Fundraising expenditure comprises costs incurred in inviting individuals and organisations to contribute financially to the charity's work. This includes the cost of advertising for donations and the staging of special fundraising events. 

## **Charitable activities - operation of concert orchestra productions** 

These amounts comprise the direct costs of staging musical performances and include artists fees, travel and expenses; venue hire and promotion; independent concert management fees and 

expenses; the cost of records, music and copying. Expenditure has been included in the accounts on an accruals basis. 

## **Support costs** 

Support costs include central functions and it is considered that the whole of these costs relate to charitable expenditure on concert engagements and recordings. 

## **TANGIBLE FIXED ASSETS** 

Tangible fixed assets are stated at historical cost less accumulated depreciation. 

Depreciation is provided in order to write off each asset over its expected useful life as follows: 

Office furniture & equipment  - 25% straight line 

## **STOCKS** 

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 

## **TAXATION** 

The charity is exempt from corporation tax on its charitable activities. 

## **FUND ACCOUNTING** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

continued... 

Page 19 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 

## **1. ACCOUNTING POLICIES - continued** 

## **FUND ACCOUNTING** 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS** 

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

## **FOREIGN CURRENCIES** 

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the Balance Sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the net income for the year. 

## **IRRECOVERABLE VAT** 

Irrecoverable VAT is capitalised where it relates to fixed assets. Otherwise it is written off when incurred to the SOFA. 

## **2. DONATIONS AND LEGACIES** 

|Donations<br>Legacies<br>Grants receivable|30.6.21<br>£<br>180,651<br>-<br>300,849<br>481,500|30.6.20<br>£<br>88,253<br>21,976<br>92,205|
|---|---|---|
|||202,434|



continued... 

Page 20 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 

|**3.**<br>**INVESTMENT INCOME**<br>Deposit account interest<br>**4.**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Activity<br>Fees receivable from<br>Income from the operation of concert<br>concert productions<br>orchestra productions<br>Fees receivable from own<br>Income from the operation of concert<br>promotions<br>orchestra productions<br>Sponsorship of concert orchestra<br>Sponsorship income<br>productions<br>**5.**<br>**RAISING FUNDS**<br>**RAISING DONATIONS AND LEGACIES**<br>Fundraising costs of grants and donations<br>**6.**<br>**CHARITABLE ACTIVITIES COSTS**<br>Direct<br>Costs<br>£<br>Expenditure from the operation of<br>concert orchestra productions<br>354,368|30.6.21<br>£<br>1<br>30.6.21<br>£<br>65,711<br>12,937<br>-<br>78,648<br>30.6.21<br>£<br>-<br>Support<br>costs (see<br>note 7)<br>£<br>215,519|30.6.20<br>£<br>41<br>30.6.20<br>£<br>371,240<br>28,631<br>12,945|
|---|---|---|
|||412,816|
|||30.6.20<br>£<br>4,500<br>Totals<br>£<br>569,887|



continued... 

Page 21 



## THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 

## **7. SUPPORT COSTS** 

||30.6.21|30.6.20|
|---|---|---|
||£|£|
|Wages|147,927|151,194|
|Social security|12,881|13,873|
|Pensions|4,406|4,357|
|Premises costs|20,511|27,064|
|Telephone & IT expenses|1,974|4,482|
|Printing, postage & stationery|3,018|2,990|
|General marketing|6,847|30,827|
|Sundry expenses|295|2,728|
|Subscriptions|4,204|2,504|
|Non-recoverable VAT|-|-|
|Depreciation of office furniture & equipment|209|1,435|
|Loss on sale of tangible fixed assets|1,715|-|
|Bank charges|1,325|810|
|Interest payable|-|8|
|Auditors' remuneration|5,000|5,000|
|Bookkeeping|5,207|9,988|
|Legal fees|-|6,057|
|Ex gratia payments|-|7,313|
||||
||215,519|270,630|
||||



## **8. NET INCOME/(EXPENDITURE)** 

Net income/(expenditure) is stated after charging/(crediting): 

||30.6.21|30.6.20|
|---|---|---|
||£|£|
|Auditors' remuneration|5,000|5,000|
|Depreciation - owned assets|210|1,435|
|Deficit on disposal of fixed assets|1,715|-|



continued... 

Page 22 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 

## **9. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020. 

## **TRUSTEES' EXPENSES** 

There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020. 

## **10. STAFF COSTS** 

|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries<br>Social security costs<br>Other pension costs<br>The average monthly number of employees during the year was as follows:<br>Direct charitable work|30.6.21<br>£<br>147,927<br>12,881<br>4,406<br>165,214<br>30.6.21<br>3|30.6.20<br>£<br>151,194<br>13,873<br>4,357|
|||169,424|
|||30.6.20<br>3|



The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 

|||30.6.21|30.6.20|
|---|---|---|---|
|£60,001|- £70,000|1|1|



continued... 

Page 23 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 

|**11.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>Unrestricted<br>Restricted<br>fund<br>fund<br>£<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>140,229<br>62,205<br>**Charitable activities**<br>Income from the operation of concert<br>orchestra productions<br>399,871<br>-<br>Sponsorship of concert orchestra<br>productions<br>-<br>12,945<br>Investment income<br>41<br>-<br>Other income<br>63,796<br>-<br>**Total**<br>603,937<br>75,150<br>**EXPENDITURE ON**<br>Raising funds<br>4,500<br>-<br>**Charitable activities**<br>Expenditure from the operation of concert<br>orchestra productions<br>590,868<br>75,150<br>Ex gratia payments<br>7,313<br>-<br>**Total**<br>602,681<br>75,150<br>**NET INCOME**<br>1,256<br>-<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>182,781<br>-<br>**TOTAL FUNDS CARRIED FORWARD**<br>184,037<br>-|Total<br>funds<br>£<br>202,434<br>399,871<br>12,945<br>41<br>63,796|
|---|---|
||679,087<br>4,500<br>666,018<br>7,313|
||677,831|
||1,256<br>182,781|
||184,037|



continued... 

Page 24 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 

## **12. TAXATION** 

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 

## **13. TANGIBLE FIXED ASSETS** 

|**TANGIBLE FIXED ASSETS**||
|---|---|
||Office|
||furniture|
||& equipment|
||£|
|**COST**||
|At 1 July 2020|6,145|
|Additions|1,214|
|Disposals|(5,773)|
|At 30 June 2021|1,586|
|**DEPRECIATION**||
|At 1 July 2020|4,163|
|Charge for year|210|
|Eliminated on disposal|(4,059)|
|At 30 June 2021|314|
|**NET BOOK VALUE**||
|At 30 June 2021|1,272|
|At 30 June 2020|1,982|



All tangible fixed assets are held for the charity's own use. 

Page 25 

continued... 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 

|**14.**<br>**STOCKS**<br>Stocks<br>**15.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Other debtors<br>Orchestra tax credits<br>VAT<br>Prepayments and accrued income<br>**16.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Social security and other taxes<br>Other creditors<br>Accrued expenses<br>Deferred income<br>**17.**<br>**MOVEMENT IN FUNDS**<br>At 1.7.20<br>£<br>**Unrestricted funds**<br>General fund<br>184,037<br>**TOTAL FUNDS**<br>184,037|30.6.21<br>£<br>200<br>30.6.21<br>£<br>15,117<br>25,710<br>84,356<br>4,416<br>444<br>130,043<br>30.6.21<br>£<br>97,759<br>4,005<br>2,708<br>14,812<br>56,753<br>176,037<br>Net<br>movement<br>in funds<br>£<br>19,455<br>19,455|30.6.20<br>£<br>200<br>30.6.20<br>£<br>28,679<br>29,781<br>61,894<br>2,524<br>6,449|
|---|---|---|
|||129,327|
|||30.6.20<br>£<br>21,312<br>2,811<br>766<br>11,834<br>20,000|
|||56,723|
|||At<br>30.6.21<br>£<br>203,492|
|||203,492|



Page 26 

continued... 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 

## **17. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

|Incoming<br>resources<br>£<br>**Unrestricted funds**<br>General fund<br>440,718<br>**Restricted funds**<br>Restricted fund<br>148,624<br>**TOTAL FUNDS**<br>589,342<br>**Comparatives for movement in funds**<br>At 1.7.19<br>£<br>**Unrestricted funds**<br>General fund<br>182,781<br>**TOTAL FUNDS**<br>182,781<br>Comparative net movement in funds, included in the above are as follows:<br>Incoming<br>resources<br>£<br>**Unrestricted funds**<br>General fund<br>603,937<br>**Restricted funds**<br>Restricted fund<br>75,150<br>**TOTAL FUNDS**<br>679,087|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(421,263)<br>19,455<br>(148,624)<br>-<br>(569,887)<br>19,455<br>Net<br>movement<br>At<br>in funds<br>30.6.20<br>£<br>£<br>1,256<br>184,037<br>1,256<br>184,037<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(602,681)<br>1,256<br>(75,150)<br>-<br>(677,831)<br>1,256|
|---|---|



continued... 

Page 27 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 

## **17. MOVEMENT IN FUNDS - continued** 

A current year 12 months and prior year 12 months combined position is as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|At 1.7.19<br>£<br>182,781<br>182,781|Net<br>movement<br>in funds<br>£<br>20,711<br>20,711|At<br>30.6.21<br>£<br>203,492|
|---|---|---|---|
||||203,492|



A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|1,044,655|(1,023,944)|20,711|
|**Restricted funds**||||
|Restricted fund|223,774|(223,774)|-|
|**TOTAL FUNDS**|1,268,429|(1,247,718)|20,711|



continued... 

Page 28 



THE ENGLISH CONCERT (A COMPANY LIMITED BY GUARANTEE) 

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021 

## **18. RELATED PARTY DISCLOSURES** 

During the year, there was an amount of £20,000 (2020: £20,000) received from The Kathleen Hannay Memorial Charity, a charity in which S Weil is a trustee. 

Grant income totalling £15,000 was received from The Maria Bjornson Memorial Trust, a charity in which S Weil is a trustee. However, this is included in deferred income until 2021/22. 

During the year, eleven (2020: ten) of the trustees contributed personal donations totalling £87,558 (2020: £46,237), of which £50,000 (2020: £17,000) was the largest total donation made by a single donor. 

Page 29