Registered number: 01271179 Charity number: 272866 The London Symphony Chorus (A company lirnited by guarantee) Unaudited Trustees, report and financial statements for the year ended 31 August 2021 •A83PAQPN* 11Y0512022 COPAPANIES HOUSE A07 #193 The London Symphony Chorus (A company limit￿ by guarantee) Conlents Page Reference and admlnistratlve details of tho Companyp its Trustees and advisers TN¥ts•$' report 2-12 Independent examinerfs report 13 Statem•nt of financlal actlvltles 14 Balance sheet 15 Noles lo th8 finan¢ial statements 16-24 The London Symphony Chorus (A company limited by guarantee) Refer¢nGe and adminlstrative detalls of the Company. Its Trustees and advlsers for the year ended 31 August 2021 Truslees Owèn Hanmer. Chair Alice Jones Anne Loveluck Elizabeth Webb Gillian Lawson Matthew Clarke (appointed 2 September 2021) Nathan Homan (until 21 July 20211 Richard Street. Vice Chair Robert Ward Simon Backhouse Company reglslored number 01271179 Charity r8gistorod number 272866 Regislgred officg clo LSO Office Level 6 Frobisher Grescenl, 8arbican Centre ' Silk Street, Barbican London EC2Y 8DS Accountants Kreslon Reeves LLP Chartered Accountanls 2nd Floor 168 Shoredilch High Street London E16RA 8ankers Barcla￿ 8ank PLC 100 Fenchurch Street London EC3M &JD Page 1 The London Symphony Chorus (A Company limited by guorante•) Trustees. report for year end•d 31 Augusl 2Q21 Coun¢il Members At Ihg dato of thi$ rnport Simon 8ackhouse Matthew Clarke Alice Jones Owen Hanmer Gillian Lawson Anne Lovfjluck Richard Street Robert Ward Elizabeth Webb from 2 Seplember 2021 Chaimian VKe Chaim)an ' Other Trustees who seprnd during the year ending 31 Awst 2021". . Nathan Homan unbl 21 July 2021 Officérs of the Chorus Paul Allatt Joanne Buchan Andrew Fuller ,Robert Garbolinski Gina Broderick Treasurer Librarian Audition$ Secretary Concert Manager Council Secretary ' Music Team Simon Halsey Lucy Hollins David L?w￿n Benjamin Frost Anita Morrison Rebecca Outram Norbert Mey Robert Rice Ch¢)rus Director" Assouale Chorus Director Asswale Chorus Director Chorus Accompanist Vocal Coaches . Company Secretary K Harrison . Page2 London Symphony Chorus {A company1Smited by guarantee) Trustees. report (contlnued) for the year ended 31 August 2021 The Directors. who are also Tnjstees of the charity for the purposes of ihe Charities Act, submit their annual report and the audiled financial stslements for the year ended 31 August 2021. The Irusiees have adopted Ihe provisions of the Statement of Recommended Pr8Ctice (SORP) 'Accounting and ReFQrting by Charities, issued in 2019 in preparing the annual rewrt and the finan￿al stslements of the Charity. The London Symphony Chonjs is a eorripa.ny limrted by guarantee and is exempt from the requirement to use the word 'Limited' as part of ils name. The company is a registered charity. Charity No. 272866, and is therefore exempt from Corporation Taxation. It is also an entirely self-sufficient organisation covering its costs through CODC*rt and recording fees and fundraising. Since the Company qUa￿fieS as small under section 382 of the Companies Act 2006. the Strategic report required of medium and large companies undef the Companies Act 2006 {Slrategic Report and Directors, Report) Regulations 2013 has been omitted. Structure, governance and management The Chorus is managed by a C(wncil of its members. Members are elected to the Council at the Annual General Meeting to hold office for the period of years. In the event of a Council member (voice representalivel . resigning, the appropriate Chorus section elects a replacement lo hold office until the following Annual General Meeting. Members of the Council relire by rotstion. Counol memters are the CL)mpany directors of the Chorus. and are also the trustees. They are volunteers. The Truslees. Ststemenl of Responsibilities is noted below. The members of the Council each have an interest in the Chorus in their capacity as guaranlors. which is limited to an arnount not exceeding £1. The members of the Choru$ are all those who have been admrtted following audition or ￿•uditiOn by the Chorus Director. The Chorus Director is appointed by the CouncTrl and recetves fees in his professional capacity by virtue of an arrangement between the Chorus and the London Symphony Orchestra. No other Council or Chorus member is remunerated by the Chorus. but reasonable expenses In￿rred by Council members in fulfilling their obligalions to the Chorus are reimbursed. The Counal has also appointed other Officws Isted on Page 2 ¥¥t￿ fulfill the roles specified in relation to Ihern. Page 3 The London Symphony Chorus (A cornpany limited by guaranteel Trustees. report (Gonlinued) lor the year ended 31 Att9USt 2021 Icontinuedl Alms and objectives In the Articles of ASs￿latIon of the London Symp￿)nY Chorus'the objects for which the Society is established are the study and practice of choral music in order to foster public knowledge and appreciation of such music by means of public perfomiance.- We have re4taled our aims as.. 1. Excellence - We aim to be (yiticalty recc*3nised as the best symphonic chorus in the UK. We strive for artistic excellence. renowned equal￿ for our mastery of standard repertoire as well as the ability and confidence with which V￿ tackte new or unusual ¢hall8nge5. Wo wish io be th8 chorus of choice for talented singers. 2. Partn8rship- Central lo our identity a commitment to the special and long-slanthng relationship with the London Symphony Orchestra. We aim to remain at the heart of Iheir a￿stIC vision as 8 highly flexible arKI responsive choral partner. 3. Membership- We are ¢X)mmitted lo our identity as a seK-financed members. organisation. Our members are at the heart of the LSC. its direction. govemance and administration. We are focused on developing our own talent and constantly challenging oursetves, whilst enjoying the many social benefits membership brirvJs. 4. London- We are committed to the musical lrfe of London, our home. We aim to use our activilies lo nurture the arbstie life of the capital through engagement wtth our audiences and the wider community- We seek to develop links wilb emerging soloists, choral conductors and accy)mpanists. as well as commissioning new works to expand the choral repertoirg 5. RepLtstion- We continue to develop our reputation wilh other leading intemalional orcheslras and ondyctors. in the UK orwhen we tour abroad. We are committed to being an inclusNe and diverse group of singers regardless of racA. gender. sexual orientation. gender Klenlity or expression. lifestye. age. educati)nal background, national origin. religion or physical ability. Membership is open to anyone with 8 9CMJd choral singing voice with rK) fees to join or -participate. An audit in 2018 showEd thE mel the Charity Commission guidelines for diversity and equality in our governance and, benchmarking ourselves against Arts Counul Funded Organisations. we compare favourabty in the diversity of our members from Black and Ethnic Minority groups. We have established a Diversity and Inclusion Advisory Group, are carrying out fvrther analysis of our membership to undersiand better our diversity profile, are Working wilh a DEI consultant lo devebp a shared understanding and strategy for DEI, and will continue to maintain our diversty through our open membetship recnJitment and partiupalion in outreach programmes such as LSO Sing. We aimed to a¢hieve our aims through.. ' concerts with the London SyThphony Orchestra and the world's great orcheslras. conductors and soloists, at home and abroad ' recordings that attract critical acdaim and awards commissioning and performing new and ex￿11￿ works, from rwi and established composers. that are accessible lo choruses and audiences alike ' invofving adults. young people and chiklren in the community in discovering and tsking part in thoral music ' encouragin9 and supporting yDung singefs, choral conduciofs and acxompanists ' a programme ofchoral training and vocal developm￿1 . the recruitment of new adult members of all ages and diverse backgrounds Page 4 The London Symphony Chorus (A company limited by guaranteel Trustees. report {contlnued) for the year ended 31 August 2021 Achievements and perfomiance M8in achievements of the Company The LSC is one of the UK'S leading thoirs and is ￿nOwned both at home and intemalionally for ils concerts, recordin9s. awards. promotion of new music and outreaeh work. The year 2020-21 was the London Syrnphony Chorus. 55th season.11 was also the 9th season with Simon Halsey as Choius Director and Choral Director of the London S￿phonY Orchestra. and of the partnership befyveen the"chorus and the orchestra, LSO Sirrfj. The Covid pandemic and the various lockdowns precluded the Chorus from INe rehearsal and performance for most of the 20121 season. A lour to Monte Cark) and Aix with the Orchestra de Monte Carfo scheduled for September 2020 was cancelled and SubseqUentty.￿arrarVjed for Sepl 2021. We conlinu8d to work as a team to.. Rehearse online and when allo¥fftl in person Audition and admit new members via Zoom Continue vocal coaching online, tK*th on an indNid¥Jal and sectional basL£ Complete our rebrand, and launth a new extemal website and members. Sharepoint site Perfom outside in Guildhall Yard and in Spilaifields Xmas Market. a Christmas recording al St Luke's. a rerx)rding of Slravinsky's Mass at St Luke's, and a first public perfomiance of Never to Forget by Howard Goodall. and the wofkl premiere of After Winter by Errollyn Wallen. both at the opening concert of the Spitalfields festival Develop our understanding of dr¥ersity. equity and inclusion. and prepare for a new thorus strategy. ' Covid recaulions Reheaisals took place on Zoom until October 2020 vthen we were able to rehearse face to face and record a contribution at Sl Luke'$ lo the LSO'S Xmas C£&ncert (for later streaming online). Following risk assessments. face lo face rehearsals IcK>k place initsalty in Ajdgale School and Prior Weston School. with members standing 2m apart in 8 well ventilated and cold hall. Masks were worn when not singing. and also worn for singing as the numbers in the community with Covid. and the risk to mernbers. increased. From November, all rnembers taking part in rehearsals and concerts undertook lateral flow le$ts within 24 hours. in line Y￿th the LSO'S Covid-19.policy. The joint approach adopted by the LSO and LSC was successfvl in preventing transmission associated with singing, and received commendation from the DCMS. Concerts The chorus took part in S wncerts and 4 proieGts {compared with 14 concerts and 6 projects in 2019-20} with the following orchestras. Gonductor¥ and venues. Ortheslra5: London sYThptrK￿Y Ord￿Stra (2): City of London Sinfonia (1) Piano Accompanist.. Benjamin Frost (2) Conductors: Simon Halsey14)', Dawd Lawrence11) Venues.. Guiklhall Yard11),' Spilalfields Market (11- Christchurch Spitaff*lds11)- Si Luke's (21 Page 5 The London Symphony Chorus (A company limited by guaranteol Trustees. report (conllnuedl for the year ended 31 August 2021 Achievemonts and perfomiance (continued) 2020 27 September An Autumn Selection Simon Halsey. Benjamin Frost piano. Guildhall Yard London (4 x thirty minute Concert pertomances outside) 15 November Xmas eoneert Simon Hatsey. London Symphony Orchestra. St Lukg's London (Rec4yding for streamirvJ on the LSO'S YouTubg dbannel) 12 December Xmas Sekntion David Lawrence. Benjamin Frost piano. Spitaffields Market London 13 x 30minule perf¢Nmances outside) 2021 1 July G¢Mlall: Never io Forget {fir5t publi¢ perfomiancel Wallen-. After Winter (worfd premiere) R￿eTiCk Williams baritone. Chris Glynn piano Simon Halsey. City of London Sinfonk4. Christthurch Spitaifiekls London I￿ opening COn￿rt of the 2021 Spitalhelds Festival) 25 July Stravinsky". Mass Britten.. Hymn lo the Wirgin Royal College of Musi¢ soloists Simon Ha15ey. London Symphony Orchestra. St Luke's Lon¢kn (Recording for streaming on the LSO'S YouTube thannel) Reviews of Ihese concerts by music critics induded the folbwing opinions.. . Al the end ol this concert opening Spitaffields Festival, Simon Halsey looked close to tearn. "I conduct ch￿Ts,. he told the audience, ?nd this is the firsl concert I have conducted for 16 months. And, l imagine, also the first tirne U>e London Symphony Choms has sung togetherin public &nc8 March 2020. As about a mill￿n am0teur￿n9erS have pointed out on Twitter. al a lin￿ when footie fans 8re roaring Iheirheads off, wilhoul masks or social distancing. the￿ a￿ still ludicrt)us ￿$triCt￿nS on ch￿r$. So all credit to the LSC ond Halsey forfinding the requisite loopholes needed to fill Hawksmoors greaf Christ Chuffh with Choral sounds ag8in. Howard G￿daIl.5 Never to Forget at least conveyed its good intentions with fine craftsmanship and a sweet lyri￿￿￿. Il's a memorial to the health and care workers who died in t1￿ pandemK, but instead oflheir names being etch8d in slone they are irnmortalised by bwng sung, one after another, by a chorus and So1￿$t$ with a gentle instrumental backing. Hard lo bring off what was in effect a thoral roll call without it soundlng like a ' sombre rewnte of Widecombe Fair. but GLTh)daM evoked grief ￿thOut everslipping into senliment81ty." 3. The Times - Goodall Never to Forget. Wallen After Winter- Christchur¢h spila￿leid$l1 July) During early lockdown in 2020 Howard G(￿daI1pub1•Shed an article l￿dering (he rol& ofthe.composer in 8 pandemic. His answer Was thatmusic has thmUg1￿Ul hislory been successful at memonalising people and &venls, and that it could do so again. On the back of the aitle, the London Symphony Chorus invited Good811 to reate such a piece for the car& and health wort(ets who had lost their Iwes to Covid. The filst version of Never to Forget Was released online in July 2020, the knitual. LSC singing the names ofthe then 122 Worke￿ who had died. A yearlater the piece has been expanded- there are now 285 workers listed in Ihe text- and rnGeAved its live worfd premiere as the first event of this yearfs Sprtalfields Festival." 11 is a humble and moving ￿spOnse to the tragic loss of lile and the ￿rfOnnanee- a retum to live *nging by the LSC- had &ncerity and sensitivity. It is a su¢cesslul answer to GI￿da11'S own quesiyon. Page 6 The London Symphony Chorus IA company limited by guarantee) Trustees. report {Con￿nUed1 for the year ended 31 August 2021 A¢hi•voments and performanG¢ {¢ontinuedl The 70 masked &ngers were a￿aYed an)und tho gallery, conductor Simon Halsey hawng to.work in 360 degrees, with the nan7es proieded on a screen. Care had clearty been taken to pronounce the names corre¢lly and it felt like a sincere and Committed tn.bute to Ihe dead. As Goodall Sa￿ in a powerful introductory speech.. each of these names we therish and honour- we wng these names wrfh love and gratitude,. Although perfonned in a thurrh. Nevor to Forgel felt like an appropria¢ely se¢ulorln"bute to a group ofpeople clearty hugely varied in cultural and national orwin. and was in thal sense a model ofhow such a thing can be done. Arts Desk- Gothjall Never to Forget. Walkn After Winter- Chri$t¢hurth Spilaffiekl$ (1 July) Projected onto a s¢Tren behind the performers. the names underfined the debt we owe lo people whos& olleclive heritage spans every continent, theirmultiple syllal)les engendering music thal. if it neverquite joyous, was largely celebratory. Prominent roles for harp and a soaring cello pro¥￿ed a timbr81 counterpoint to each other, and lo the choir, which, apart from lour soloists po&lioned in fmnt of the orchestra, came to us from galletryes above the nave. Goodalls lines, never fully melodic bul always mobile. had a &ng-song Quality. eventually rising to a climax like a peal of bells befoTr a keening cello solo bmught Ihe ￿ece to an end that was fvially. unequivocally moumful. Not an eosy wort to follow. Undaunted, Errollyn Wallen. curntor of this yearfs Spitalfi8lds Festival, presented her own After Winter, written for Stree1￿se Opera, a company that ¥vorf(s with homeless people. They would have sung it in Middlesbrough last year, but Cowd put pa￿ to that, so this was ils premieTr. Wallen conceived it as a set of six songs to herown words, scO￿d for choir, piano and slring quartel. each piece interfeaved wilh excerpts from Schubert's Winferreise. the greatest ofall 19th-century son9 cycles. With the masked choir again posthoned al)ove us. Wallens words often dis&￿Ved into the church s upper reaches, bul the singing was forcefvl, committed. Unusualty. the Schubert was sung in agreeably conversation81 English [translat￿n by Jeremy Sams). which bantone soknst Roderick Williams delwered with an ideal ornbination of darity and understated emotion. Evening Standard- Goodall Never to Forget. Walkn After Winter-christchurch Spilalfields11 July) LSO L"ive recordi None Live streams 15 November Xmas COn￿rt Simon Halsey. London Symphony Orchestra. Sl Luke's London (Recordin9 for streaming on the LSO'S YouTube channel) 25 July Stravinsky.. Mass Britten.. Hymn lo the Virgin Simon Halsey. London Symphjny Orchestra. St Luke's London {Re¢ording for slreaming on tre LSO'S YouTube channel) Commissionin and rfomii new works Howard Goodall Nevgr to Forget This was commissioned by the LSC and recorded in 2020 as a vwjeo with LSO players and released on YouTube. It initially commemorated 122 of the first UK health and care workers to die from CovFd-19. Whan completed in 2021 il induded 285 names. Julian 4nderson Exiles The chonjs is the lead co21 and officialty soft launched in September 2021. The launch followed extensive user-lesting throughout August and earty September 2021 led by Liz Reeve. The aim was to 'try and break the website. so digital developer Rob Ellis rfwo Stories). could identify and fix any problems or glitches in the website architecture and ensure visitors to our website on both desktop and rnobile deVI￿S would have the best and smoothest experience possible. Our thanks lo the user group for volunteering their time and giving such thor¢wgh feedback during this phase. 11 was the aim of the website team lknz Reeve. Nathan Homan and Alice Jones). and of ￿Urse Two Stories. to ensure the website embLMlied our new brand and our values and aims for the LSC over the next few years. One Page 9 The London Symphony Chorus (A company limited by guarantee) Trustees. r•port lcontinuedl for the year ended 31 August 2021 A¢hlevements and performance (contlnued) of our key aims, was to ensure ch￿ mentsrs fell proud of the new websrte, and that il shoukl Tr￿re appropriately reflect their passion for and experience of being in the Chorus. To this end. we invited members to contribute articles lo the 'Our News. page. and started to indude member prOfi￿S so interested audionce members. Supporte￿ and, importantly, prospective members. can learn a little more about who we are. Thank you lo thosg members who have already volunteered to take part in this project and our particular thanks to Lynn Ealon lallol for leadirvJ on the proje¢( ¢anying oul numerous interviews and writing the wonderful profiles. Data mana emenl In June 2019. the London Symphony Chorus inibated a 'Data proiecv led by Liz Reeve. We saw Ihat dats and infomiatKJn about the LSC and ils members were stored in rnany drfferent places in many formals, and Ihal different processes were being used lo manage it. As a result of our analysi$. we sel up some design principles. Vve identified that our data fell into four broad categories which then kd into four sets of detailed requirements and from these we were abk lo define several smaller projects. which were: Abilty to Manage Documents Abilty to manage members. their status and associated data Ability to manage project numbers, including chows registralion and attendance Abilty to market the LSC (see new Web￿te, above) As Council alreaty had experien￿ of usirKJ the Microsoft pr(MJuct. OneDrive. we approached Microsoft to recommend a consultancy to support us. Using Ihis consultsncy we sU￿Ssful￿ set up a Microsoft Tenancy for ourselves and are using ShareP(Nnt to Share Inforn￿l￿)￿ wilh our own Members. We continued lo review fyJr membership data in the light of GDPR regulations and have ensured that our dats is streamlined as far as wssible. Regular reviews ensured that the dats was kept up lo date. For sign-on and reporting. we have now cenlralised registers and reporting in place. Thanks are due lo Liz Reeve. Robert Ward. Jo 8uchan, Gina Brtsjerick and Paul Allatt Adviso Grou n Diversi and Indusion The LSC Advisory Group on Diversity and Inclusion (the"AG") hekj its inaugural meeting in August. 2020. Members hekl weekly 90-minute zoom meetings during the year ending August. 2021. Group members made an earfy decision to recomrnend broadening the Group's scope to add￿$$ all aspects of diversity and inclusion. As well as galhering and priorilising "blue Sk￿ ideas and resources for leaming, Group Members undertook a number of pieces of work. Some of these aimed to lay foundatDns for the ongoing work of the Group and for .increasing diversity and inclusion in the LSC. Members drafted Tems of Reference for the AG, prepared a Request for Proposal for the recruitment of extemal support, in line wth Council's Time for Change statement of Juno 2020, and drafted a Diversity and InclusK)n Policy for Council's consideration. Members liaised with the website project team to draft D&1 goals for the website project. They also responded to requests from Council, including a request for comments on proposed changes lo the Chorus Rules. AG members met tsvice with Counctl during the year and established a joint Steering Committee lo oversee the recruilmenl of exlemal support. They also mel with representatives of the LSO. Thanks are due to Ihe Co£hairs. Oorothy Nesbit arvj Louisa Marb"n. and past and present members of the group. Flnanclal revl•w a. Golng Gonvrn After making appropriate enquiries. the Trustees have a reasonable expectslion that the Company has adequate resour¢es to continue in operational exi51encg for the foreseeable fulure. For this reason. they corbtinue to adopt the 90ing ¢oncern basss in preparing the finanual statements. Further details regarding the adoption of the going concem basis can be found in the accountirg policies. Page 10 The London Symphony Chorus IA company limited by guarante¢) Trustees. report Icontinued) for the year ended 31 August 2021 b. Flnanclal revlew The continued impact of Covid made live reheatsal and performan￿ extremely difficull during much of the 20121 season. This has meant a considerable reduction in performance activty for the Chorus. In particular, the Chorus had only tsvo events involving the Lond¢Jn Sympfvjny Orthestra (thè Christmas recording and Stravinsky Mass recording}. A most unusual oecurrence. The underwriting agreement betr4veen the orchestra and Chorus was SUSFended for the year. Although the Chorus rehearsed live when Covid restrictions pemitted muth rehearsal was online. We incurrèd considerable expendilure on rehearsals and limited perfom)ance opportunities lapprox. £60.0001 and had very low income {£2.0001. The Counul again made (￿MpensatIon payments1£14.0001 to our music team to help wtlh loss of eamings during this dI￿ul1 tirne for freelance musioans. The Chorus was able to manage this imbalance by spending cash reseNes built up over previous seasons 1£38.6001 and Contribut￿nS from its endowment fund {£34.0001. The Chonjs is grateful to the London Symphony Chorus End¢)wment fund whi¢h provided donations to cover the compensation payments to the music team {£14.0001 and a further £20.000 towards the Costs of our overheads. The LSC Friends again generously covered the costs of the chonis zoom licenck {£7041 whi¢h wa$ used lo support online rehearsals and Counol meetings. Despite the the financial stresses brought on by Cow"d. the Chorus was able to upgrade its website, improving its branding and communication. digilise adminislr8twe procedures and develop virtual rehearsal techniques to maintain quality and morale. The new website went live in September 2021. al a cost of arourbd £12.000. Musi was purchased to support perfomiances duringthe season {e.g. Brttten Hymn lo the Virgin1£5201, additional copies of Stravinsky Mass {£3061, Dove Now {£343)}. Council members and ¢)fficer5 work on a volunlary basis. The time offered gratis is estimated to be worth at least £60.000 covering legal. finanaal, digital and administrative expertise. LSOILNe royatties were hearthy at £3.685 (up from £2,108 in 19120) and income from PPL was also good at £2.4001£2,008 in 19120). We suspect this refiects the increase access to recorded perfomiances due to the lack of live performances. Hire of music from the Chofus Library to other organisations was much redl￿ed due lo Covid restrictions on amaleur groups singing live. We hope Ihis will pick up in season 21122. We are grateful lo the Chorus Librarian for supporting this activity and the considerabbe arr¥)unts of time they provide gratis. Several current and past members of the Chorus have made donations directty to the Chorus funds for which we are grateful. The Chorus made further claims to HMRC for Gift aid refunds for donations both made d1￿Cl￿ to the Chorus lo the LSC Friends. Reserves PoliGy The Chorus seeks lo maintain sufficient reserves to support its core charitable activities and to provide for contingencies which may aris9. Sizeable reserves are held by the London Symphony Chorus Endowment Trust. The Endowment Trust holds and manages both the Chorus En¢knm)ent Fund and Ihe Chorus Legacy Fund. Both funds have se8n good perfom)ance with regard to income over the finarbcial year. The LSC Endowment Trust accounts provide details of their I￿rrent value. The Endowment fvnd expects to ¢xJnlinue lo be able to provkye fvnds from its income stream to the Chorns on an annual basis, which will be used to help wth Chonjs operats'onal and administrative costs. In addition, from time to time, the Endowment fund helps with costs of specific activities such as TOU￿ and Commissions. Page 11 The London Symphony Chorus (A company limited by guaranteel T￿￿tee3. report (Gontinuedl for the year ended 31 August 2021 The Legacy fund continues io fund the more strategic activities of the Business plan. During these unusual times when the Chorus is unable to eam irthme from perfcwmances. the existence of the Endowment and Legacy funds have and wll conbnue to provide financial support for ongoing Chorus musical. activity. e.g. covenng costs of rghearsals, both online and live (vthen permitted). and costs of s8tf-promots.on ncerts, which may be needed to fi119aps in our schedule. Future Plans The Chorus has survived the storni of Covid and now needs to deal with aftemiath. It anlÈcipates reduced opportunities to perfom over the next year few years. At the same time, slorage costs for its music library are rising, which is pushin9 up our overhead costs. 11 will be important lo keep control of costs where possible. We expect the underwriting arrangement with the LSO to be reinstated in season 21122. We note that the current agreemenl.wilh the orchestra comes to an end in July 2022 and securing good future arrangements will be important to the Chorus's ftrture financial position. The existence of our reserves both in the End¢)wment and Legacy funds ￿11 be vital to the Chorus durin9 this difficult period. Statement of Trusle•s' responsibillties The Tfuslees (who are also the directors of the Company for the purposes of company are responsible for preparing the Truslees, refiort and Ihe financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally A￿ePIed Accounting Practice). Company law requires the Trustees to prepare financial stalements for each finanual . Under company saw, the Trustees musl not approve the ffinanoal statements they are satisfied that they give a true and fair vieyd of Ihe slate of affairs of the Company and of ils incoming resourtss and application of resources. including its income and expenditure, for that period. In preparing these financial stslemenls, the Truslees are required lo: select suitable a¢xounting policies and then apply Ihem consistently, observe the methc*ds and prinoples of the Charities SORP IFRS 1021.. make judgments and a￿Unting estimates that are reasonable and"prudent', slate whether applicable UK Accounting Standards (FRS 102) have been followed." subject to any matéria departures disclosed and explained in the financial slalemenls.. prepare the financkgl stalen%nls on the going ojncem basi5 Un￿5$ it is inappropriate lo presume thal the Company wll continue in business. The Trustees are responsible for keeping adequale accountirrfJ records that are sufficient lo show and explain the Companrfs transactions and disdose wrth reasonable aecuraey at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Acl 2006. They are also responsible for safeguarding the assets of the Company and hence for taking ￿3$Onable step5 for the prevenlion and detection of fraud and other iiregularities. Approved by order of the membets of the board of Trustees on Z7 and signed n their behalf by: Owen Hanmer Chair Page 12 Tha London Symphony Chorus (A company limited by guarantee Indepéndent examlnerfs report for the ￿ar •nded 31 August 2021 Indèpend•nt examin•f$ r•port to thè Trustèes of The London Symphony Chorus ('the Companyl I report to the charity Trustees on my examination of Ihe accounts of the Company for the ￿ar ended 31 August 2021. Responsibilities and basis of report As the Trustees of the Company {and ils directors for the purposes of company tawl you are responsible for the preparation of theAccounts in accordance the requirements of the Companies Act 2006 {'the 2006 Act'l. Having satisfied myseN that the accounts of ihe Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the Companls accounts carried out under sects'on 145 of the Chartlies Act 20111.lhe 2011 Acri. In carrying out my examination I have followed the Direclions given by the Chanty Commissh)n under sects'on 145(5)Ib) of the 2011 Act. Indopondont 8xamin•rfs ststoment I have completed my exarnination. I confirm that no matters have.come to my attention in connection with the ' examination giving me cause to believe.. accounting ret>yds were nol kept in respect of the Company as required by seCt￿n 386 of the 2c￿6 Act,. or Ih"e accounts do not accord with those re￿)rds. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fairf view which is not a matter considered as part of an independent examination: or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accountiNJ and reporbng by tharities lappli¢abk to charities preparing their accounts in aecordanee with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)}. I have no concems and have come across no other matters in connerAion with the examinalion to which attention should be drawn in Ihis report in order to enable a proper understaThJing of the accounts to be reached. This report is made solely to the Compan¥s Tnjslees. as a b￿, in accordance with Part 4 of the Charities . (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate lo the Companvs Trustees those matters l am required to slate lo them in an Independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the Company and the Companys Trustees as a body. for my work or for this report. -12 Signed: Peter Hudson BA FCA Dated: 27th April 2022 Kreslon Reaves LLP Chartered Accountants 2nd Floor 168 Shoreditch High Street London E16RA Page 13 The London Symphony Chorus (A company limited by guarantee) Statement of IlnanGial activltles {Incory)oratlng Income and expenditure aGGount) for the year ended 31 August 2021 Re$tri¢ted Unrestrlcted funds funds 2021 2021 Total funds 2021 Total funds 2020 Income from: Donations and legaaes Charitable activities Investments Other income 14.120 2,454 20.210 2.000 16 8.965 34,330 4.454 16 8.965 18.075 59.754 130 15.100 Totsl income 16.574 31,191 47.765 93.059 Expendi￿re on: Raising funds Charitable actNities .120 69.868 120 86,132 560 116.356 16264 Totsl expemllture 16.264 69.988 86.252 116.916 Net inoomel(èxpendilure) before Jossgs on fix¢d assets Loss on disposal of fixed assets 310 {38.797) 1167 (38.487) (167) (23,8571 N•1 incomo1(•xpendlture) Transfers be￿en fvnds 310 7,893 {38.964) (7.893) (38,654) {23,8571 12 Net movement in funds 8,203 146,857 (38.654) {23,857) ReconGillation of funds: Total funds brought forward Nel movement in fvnds 18.203) 8.203 65.789 {46.857) 57.586 <38,6541 81.443 (23,8571 Total lunds carried forward 18.932 18.932 57.586 The Stalemenl of finarKial activities includes all gains and losses recognised in the ￿r. The notes on pages 16 to 24 fom part of these financial slatements. Page 14 The London Symphony ChoTUS IA company Ilrnited by guarantee) Reglstered number: 01271179 Balance sheet as at 31 August 2021 2021 2020 Note Fixed assets Tangibl8 assets 11.633 4,905 11.633 4.905 Current assetlb Stock$ Debtors Cash al bank and in hand 764 14.915. 64.887 10 23.622 44,339 68.605 80.566 Creditors.. amounts tslling due wilhin one year (61.306) 127,885) Net current assets 7.299 52,681 Total assets less current liabiliti•s 18,932 57,586 Total nfrt assots 18.932 57,586 Charity funds Restricted funds 12 {8.2031 65.789 Unrestricted fvnds 12 18.932 Total funds 18.932 57.586 The Company was entilled to exemption frryn audil under sedion 477 of the Companies Act 2006. The members have not required the company lo obtain an audit for the in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibl￿tieS for comp￿"n9 with the requirements of the knl with respect to accounting records and preparation of financial slatements. The financial statements have been prepared in accordance vthh the provisions applicable to entities $ubje¢t to the small companies regime. The financi81 statements were approved and aulhorised for issue by Trustees on Z7 Ze>? and s￿ned on their behaff by. Owen Hanmer Chair The notes on pages 16 to 24 form part of these finan(#al stslements. Page 15 The London Symphony Chon (A ¢ompany limited by 9uarantee) Noles to th• Ilnanclal statements for the year ended 31 August 2021 Accountlng pollcles 1.1 Basls of preparallon of financlal statements The finan￿al statements have been prepared in accordance with the Charities SORP IFRS 102) - Ac¢ounb"ng and Reporting by Charities.. Statement of Rewmmended Practice applicable to charib.es preparing their aecounts in accordan￿ wtih the Financial Reporting Standard applicable in the UK and RepublK of lieland IFRS 102) (effective 1 January 20191. the Finar￿131 Reportin9 Standard applicable in Ihe UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The LoTrJon Symphony Chorus meets the defin￿On of a public benefft enlity under FRS 102. Assets and liabilities are inibally recognis¢d at historical cost or transa¢kn"on valug unl•$s otherwise slated in the relevant accounts'ng polw. 1.2 Going concem The Trustee's assess whether Ihe use of goiry concem is appropriate i.e. whether there are an material uncertainties related fo events or conditions that may ￿$1 si9nificanl doubt on the ability o the Charity to continue as a going concem. The Tru5tee$ make this assessment in respect of period of at Eeasl one year from the date of authorisabon for issue of Ihe.financial ststements and have conclijded that the Chafity has adequale resources to continue in operational existence for the foreseeable fviure and there are no material uncertainties about the Charitys ability lo conb'nue as a going concem, Ihus they continue to adopt ￿ going concem basis of a¢o￿nting in preparing the financial statements. Whilst the impact of the COVID-19 pandemic has been assessed by the Trustees. so far as is reasonably tts)ssible. due to its unprecedented impact on the worldwde economy it is difficult to evalvate with any certainty the polenlial outeomes on the Charity$ future activities. However. taking into consKleration the Charitys ￿¥81 of reseNes. the Trustees believe that the Charity will be able to continue in operational existen￿ for the foreseeable future. 1.3 Income Al income is recognised once the Company has entitlemenl ￿ the income. il is Probab￿ that the income will be received and Ihe amount of incOw￿ receivable can be measured reliably. 1A Expenditure ExperKliture 1$ recognised once there is a legal or constructive oblKJalion lo transfer economic benefit lo a third party. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligalion can be measured relk4bty. Expenditure is classified by activity. The costs of each activity are.made up of the lotsl of direct costs and shared costs. induding support costs Involved in undertaking each activity. Direct rx)sts attributsble to a sing'le activity a￿ allO￿ted direclly to that actiwty. Shared costs whth contribute to more than one activity and support costs which are not attribUtsb￿ lo a single activity are appoty.oned betsveen those aciivilies on a basis consistent with the use of resources. Central stsff costs are alkxaled on the basis of time spent. and depreciation charges allcoie(l on the portion of thè asset's use. Expenditure on charitable activities is incurred on directty undertaking the activities bthich fu.rther the Companrfs objectives. as well as any ass(Kiated support costs. 1.5 Inlerest recelvable Interest on funds held on deposrt is induded vthen receivabk and the amount can be measured . reliably by the Company,. this is normally upon notificab.on of the interest paid.or payabl8 by the institution wth the funds are deposited. Page 16 The London Symphony Chorus (A company limited by'guarantee Notes to the linanGial statements foi the year ended 31 August 2021 Accountlng poliGies {Gontinued) 1.6 Tanglble flxed assets'and depreclatlon Tangible fixed assets costing £NIL or more are capitslised and fecognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at CA)St. After recognition. under the cost model, tsn9ible fixgd assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangib￿ fixed asset into its intended workin9 condition should be included in the measurernent of cost. Depreciation is charged so as io allocate the cosl of tangible fixed assets less their residual value over their ests'maled.useful INes. using the straight-line method. Depr￿alm)n is provmjed on the folk)wing basis: Music Library Chonjs Websile Compuler Softsvare 33% on cost 20% on cost 25% on cK)st . 1.7 Stocks and work In progress Stocks and work in proaress are valued at the lower of cost and net realisable value after making due allowance for obsolete arml s￿W-M0Yin9 stocks. Cost includes 811 direct costs and an appr¢Jpriate proportion of fixed and variable overheads. 1.8 Debiors . Trade and other debtors are recognised * the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounls due. 1.9 Cash at bank and in hand Cash al bank and in hand includes cash and short-lerm hMJhly IK4uid investments with a short maturity of Ihree months or less from the dale of acquisition or opening ol the deposit or similar account. 1.10 Liablllties and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event. il is probable that a transfer of economic benefit will be required in settlement. and the amount of th.e settlement can be estimated reliably. Liabilrties are rewnised at the amount thal the Cornpany antiopates rt will pay to settle the debt or the amount il has received as ao%fanced Pa￿ents for the goods or services rt must provide. 1.11 Flnanclal instruments The Company onty has financial assets and financial h'abilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initialty recognised at transaction value and subsequenlly measured at their settlemenl value wlh the exceptson of bank knans wh￿h are subsequently measured al amoth'sed cost using effeth.ve interest method. Page 17 The London Symphony Chorus (A company limited by guarantee Notes to the flnanclal statements lor Ihe year ended 31 Au9USt 2021 Accounting policies l¢ontinued) 1.12 Fund accounting General fvnds are unrestricted fvnds which are availab￿ for use al the discrebon of the Trustees in furtherance of the 9en¢ral objectives of Company 8rKI whith have r*ot bèen designaiad for other purposes. Restricted funds are funds which ar8 to be used iri accordance with specific restriclions imposed by donors or which have been raised by the Company for particular purposes. The costs of raisin9 and administering such funds are char9ed against the specific fund. The aim and use of each restricted fund is set out in the notes lo the finanaal stalements. This includes amunls relating lo sponsorship of the commission from Hi)ward GcM)dall 'Never to Forgel, by the LSC Endowment fvnd and Zoom 'cence cosls paid by the LSC Friends. Income from donations and lega¢i¢s Restricted Unrestricted funds funds 2021 2021 Total funds 2021 Donations 14,120 20,210 34,330 Reslrided UnreStri￿ed funds funds 2020 2020 Total funds 2020 Donations 16.126 1.949 18,075 Income from charitable actNities Restrlcled Unrestrlded. funds fvnds 2021 2021 Total funds 2021 Perfomiances 2,454 2,0 4,454 Unrestricted funds 2020 Total funds 2020 Perfomiances 59.754 59.754 Page 18 The London Symphony Chorus (A Company limited by guarantse) . Noles to the flnanclal statements for the year ended 31 August 2021 Inveslment Income Unrestrlcted funds 2021 Total funds 2021 DeF¥)sil Account Interest 16 16 Unrestricted funds 2020 Total fvnds 2020 Deposit Account Interest 130 130 Anatysis of expenditure on charitsble activities Summary by fund type Restricted Unrestricted fvnds funds 2021 2021 Total funds 2021 Perfomiances 16,264 86.132 Restricted Unreslricled funds funds 2020 2020 Total funds 2020 Performances Other 16.022 95.009 5.325 111,031 5,325 16,022 100.334 116,356 Independent examiners Mmun•ration 2021 2020 Fee5 payable to Ihe Companys independent examiner for the independent examination of the Compan¥s annual accounts Fees payable lo Ihe Compan¥s irmlependenl examiner in respect of: All other semces Th)t included above 1,650 1.600 900 850 Page 19 The London Symphony Chorus . (A company limited by guarantee) . Noles to the flnanclal statements for Ihe year ¢nded 31 August 2021 Truste￿"¥emuneraIi0n and expenses Ouring the year. no Trustees re￿ived any remuneration or other ben•ffts12020 - £NILI. During the year ended 31 August 2021. Truslees received reimbursement of expensgs totalbn9 £423 12020- £351). Tanglble fixed assets Choru$ Web$it• Musi¢ .Library Comput•r Software Total Cost or valuatlon At 1 September 2020 Additions Disposals. 23.910 8.100 43.636 2.266 (4951 1.522 69.068 10.366 1495) At 31 August 2021 32,010 45,407 1,522 78.939 Depr¢ciation At 1 Seoember 2020 Charge for the year On disposals 23,910 31731 3,471 1328) 64,163 3,471 (328) At 31 August 2021 23,910 41,874 1,522 67.306 Net book valu8 At 31 August 2021 8.100 3,533 11.633 At 31 August 2020 4.905 4,905 Stocks 2021 2020 Stock of music folders Car park tokens 390 510 254 254 764 Page 20 The London Symphony Chorus (A company limited by guarantee) Notes lo the Ilnanclal statements . for the year ended 31 August 2021 10. Deblors 2021 2020 Due within one year Trade debtors Other 18xalitin debtor PrepayThents and accrued income 671 3,690 19.261 8,003 2.097 4.815 23,622 14.915 11. Creditors: Amounts falling due within one year 2021 2020 Trade creditors Friends Scheme Music Dep)sits Accruats and deferred income 1.833 10.681 12,445 36.347 1,329 9.606 12.175 4,775 61.306 27,885 2021 Movement on the balance of Friends Scheme Is as follows: Balance at 1 September 2020 FUnd￿1$1ng acliwties Gift aid tax refund Amounts spent 9.606 1,116 663 (7041 10.681 Page 21 The London Symphony Chorus (A company limited by guarantsel Notes to the financlal statements for the year ended 31 August 2021 12. Statement of funds Stalernent of funds - current year Balance at 1 September 2020 Balance at Ga'lnsl 31 August ILossos1 2021 Transfers inlout In¢ome Expenditure Unrestricted funds General Funds- all funds 65.789 31.191 (69,9881 {7,893) {167) 18,932 Reslrithd funds Restricted Funds all funds 18,203) 16,574 116,264) 7.893 Total of funds 57,586 47.765 186,252) (1671 18.932 The restricted lunds includes donath?ns rnade for specific purposes and the associated spend. These include support for the Spitalfield$ concert . purchase of masks with the LSC kngo for this concert. LSC Friends purchase of the Chorus Z￿rn licence, Endowment fvnd suppcfft for compensation payments made to the Music Team and support for gxial acfivity. Statement ol fvnds - prior year Balance al 1 September 2019 8abance al 31 August 2020 Income ' Expenditure Unrestricted funds General Funds - alj funds 89,750 76.933 1100.894) 65.789 Reslrlcted funds Restrth Funds - all funds 18.307} 16.126 116,0221 (8.203) Tolal of funds 81.443 ' 93.059 (116.9161 57.586 Page 22 The Londorn Symphony Chon (A company limited by guarantee) Notes to the flnancial statements . for thé year ended 31 August 2021 13. Summary of funds Summary of funds - cuffent year Balance at 1 SePtem￿r 2020 Balance at Galnsl 31 August (Losses) 2021 Trans￿r$ inlout Incorn• EX￿nditur* General funds Restricted fvnds 65.789 18,203) 31.191 16,574 169.988} 116.264 17.893) . 7,893 (1671 18.932 57.586 47.765 186.252) 11671 18.932 Summary of funds- prior ￿ar 8alan¢e at 1 Seplernber 2019 Balan￿ at 31 August 2020 Income Expendtture . General funds Reslricted funds 89.750 {8,307) 76.933 16.126 (100.894} {16.022} 6S.789 18.2031 81.443 93.059 1116.916}. 57,586 14. Analysis of ngt assots botw•¢n funds . Analysis of net assets b¢tween funds - ¢urrgnt ￿ar Unrestricted funds 2021 Total funds 2021 Tangible fixed assets . Current assets Creditors due wthin ar￿ year 11.633 68.605 (61.3061 11,633 68,605 (61.306} Total 18.932 18,932 Page 23 The London Syrnphony Chorus (A company Ilmited by guarantee) Notes to the financlal Statements for th• year ended 31 August 2021 14. Anatysls of net assets bthRen funds (continued) Analysis of net assets between funds . prior year Restricted Unrestricted funds funds 2020 2020 Total funds 2020 Tangible fixed assets Current assets 4.905 88.769 {27.88SI 4,905 80,566 {27,8851 (8.2031 Creditors due wthin one year Total (8.2031 65,789 57,586 15. Rolaled party transactions During the year ended 31 Augusl 2021 grants totalling £59,CKIO12020.' £15.68&) were received from The London Sy7nphony Chorus Endowment FurKI. 16. Covld-19 Al the time of signing the accounts the Trustees are aware of the potential economic and social effects of the Covid-19 virus outbreak. The full impad of the pandemie on the UK economy is yet to be seen. but the Charity will continue to seek to mitigate this risk by following UK Govemment's guidelines and adaplingldevek)ping its own inlemal strategy. Page 24