Reglstered number: 01271179 Charlty number: 272866 The London Symphony Chorus (A company limited by guarantee Unaudited Trustees. report and flnanclal statements for the year ended 31 August 2024 Tho London Symphony Chorus {A company Ilmlted by guarantee) C¢Jntent$ Page Refer•nc• and administrntlv¢ d•tall$ of th• Company. Its Tru$t••s and advls•r8 Trustees. roport Trusta•s' rosponslbllltles 8Lit•m•nt Independ•nl •xamln8rfs rnport Statemènt of flnanclal actlvities 10 11 12 Balance sh••t 13 Notes to the flnanclal statements 14-22 VwtualSw•wre Ti¥nsk¢iK￿ WCS.CLLJ-9GXJ21 Aw 2025 13 02 2D BSI ILIEC +11 D 111 P Th• London Symphony Chorus IA ￿rnP•ny Ilmlted by guar#nts•) Refernnc• and admlnlstratlve d•l•ils of the Company. tts Trust•M and advls• for th• y•ar •nd•d 31 August 2024 TTu8t••s Damian Day, Chair Oliver Bufrows, Vice Chair Shelkg Coboume (appointed 25 Aprfl 2024) Esther Elbro (resigned 11 January 20241 rKla Evans (appointed 29 September 20241 Sophle Hlll (appoirbt8d 11 January 20241 Alice Jones Iresigned 25 Wil 2024} Douglas Jonos Glllian Lawson (resigned 25 April 20241 Ann8 Lov8luck (reS￿ned 30 Seplembgr 20241 Doborah Staunton lappc4nted 25 Aprfl 2024} Robert Ward Elizabeth Webb (resigned 25 April 2024) Company roglst•r•d number 01271179 Charity r•gl•ter•d number 272866 Reglst•r•d offlco Level 6 Borbican Centre Frobisher Crescent London EC2Y 8DS Comp•ny secrntsry Kale Harrison Accountsnts Kreslon Reeves LLP Chartered Accountants 9 Donnlnglon Park 85 Birdham Road Chichester West Sussex P020 7AJ Bankers Barday6 Bank PLC 100 Fenchurch Street London EC3M 5JD Page 1 The London Symphony Chows (A company limited by guarantee) Trustees. report for the year end•d 31 August 2024 Counell Momb•rs At the dalo ol this report Oliver Burrows Sheila Coboume Damian Day Sophie Hill Douglas Jones Deborah Staunton Robert Ward Linda Ev8nts Vlce Chair from 25th April 2024 from 25th April 2024 Chair from 25th April 2024 from 11th January 2024 from 25th Aprfl 2024 from 29th Seplomber 2024 Other Trustees served during the year ending 31 August 2024: Esther Elbro until 11th January 2024 Alice Jones Chair until 25th April 2024 Gillian Lawson until 25th April 2024 ElrLabeth Webb VI￿ Chair until 25th April 2024 Offlcers of the Chorus Paul Allatt Kate Ailchison Joanne Buch8n Andrew Fuller Robert Garbolinski Gillian Lawson Anne Loveluck ison Ryan Treasurer Council Secretary until 15th October 2023 Librarian Audilions Secretary until 13th February 2024 Concert Manager Auditions Secretary from Tuesday 13th February 2024 Vocal Dev8lopment Secretary from 23rd Octr)ber 2023 Council Secretary from 15th November 2023 unts'l Tuesday 20th August 2024 Mu$1¢ T•am Simon Halsey Mariana Rosas Lucy Hollins David Lawrence Barbara Hofling Benjamin Frost Norbert Meyn Anits hAorrison Rebec¢a Outram Robert Rice Chorus Director Emeritus Chorus Director Associate Chorus Director Associate Chorus Director Associate Chorus Director Chorus Accompanist Vocal Coach Vocal Coach Vocal Coach Vocal Coach LSC Adminlstralor James David Company Secr*tary Kate Harrison The Director5, who are also Trustees of the charity for the purposes of the Charilles Act, submrt their annual report and the unaudited financial slalements for the year ended 31 August 2024. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI 'Accounting and Reporting by Charities, issued in 2019 in preparing the annual report and the financial statements of the Charity. The London SyTnphony Chorus is a company limited by guarantee and 1$ exempt from thè requlrement to use the word 'Llmiled' as part of its name. The company is a registered charity, Charfty No. 272866. and is thgrofore exempt from Corporation Taxation. 11 is also an entirely self-Suff￿1enI organisation coverfng its costs through concert and recording fees and fundraising. Page 2 Tran$¥t￿Tr Rel &CG)8chlng Sess￿$, Support al specific rehearsa18 and the workshop for tenors and basses. We look forward lo working regularty with our Vocal Coad)es as part of Ihe new v￿1 stratsgy. Mon mont an Administra The Volc* Repr88enlalves who m8ke up Councll, and thè office￿, ar8 volunteers glvè a consldgra￿8 amunl of tholr Ilme for cf)gratlonal, admInIstrat￿ arKI 8tratsgic work. We ore very grateful lo thém all. Wo have a part-tlme froelan¢e Adminlstralor trj 8UPPOrt C(W￿l1. arKI tho muslc t￿M in the wnning of th& Chorus. LSC Friends supports the ClwJs in Èchlevlng new commlssions. ¢horal prdects or other Initiativès, Wh1￿ also promotirwJ LSC'S socbal and roathlng oul to c￿neCt wbth past members. LSC Friends contlnue to build up funds to supwirt LSC inbllatives arTrd new projects post pandemic. In th18 flnancSal year the LSC Frlgnds contribLrtod funds to ¢*lebraW ddnks wlth the SWR orchestra and tholr chambgr chorus lo mark thg end of the successful tour to Gemany. Da We continue lo review our membership data in th8 IwJhl of GDPR regul*lion8 and have onsured that our data Is $treamlinod and securo as required. Regular rewews ensure that the data is kept up lo date. We have &Jopted an onllne form u8lng Microsoft forms technokgy to support member sign up to Chorus projects and ￿lleCtIOn of Prom$ tiGkets requirem8nts. This use of le¢hndogy streamllngs protss8e8 maklThJ them more efficiont. Dive and Kjn The exisllng EDI steerfng group made final recommendations lo the coun￿1. based on the wllaborative w conducted in the precetling periods. Council is grateful to the members of this group for their work offering in$ights over this period. Council have agreed terms of referen¢e for a new EDI group. bthich we intend lo launch in Ihe coming year to incre8s0 ropresanlalion from all voice parts, arKI include those members who have recenuy joined the Chorus. We hope that this wll continue the outyoing group's work in maklng the ChC￿u$ a welcomlng. i￿lUSive environment for all. We continue lo work to reduce b8rders to P8rticlpation in the Chorus, ensuring Ihal audIt￿n$ are welcoming and accesslble and that online music resoL)rces are available for those members who may need additKinal 8UPPOrt. We acknO￿edge the value Ihat èach individual member brings lo the Chorus through their IKe expedences and recognise Ihe Gonlribution that this makes to the quality of our perfomances. Page 7 C/JJ ￿-X. ?1 Ardr gfj?5 1? Q2 ?0 11 Th8 London Symphony Chorus IA ¢ompany1Smited by guarantee) Truste¢s' r*port Icontinuedl for the year end•d 31 August 2024 Flnanclal r•vl•w . Going con¢*m After making appropriate enquiries, the Trustees have a reasonablo expectslion that the Company has adequate resources lo continue in operational existence for the foreseeable future. For thi5 reason, they continue lo adopt the going concem basis in preparing the financial slatemenls. Further details regarding the adoption of the golng concern basis can be found in the accounting policies. b. Flnanelal r•view of th• y•ar Total income for the 2024 season was £217,019 12023.. £225,555) and our expenditure was £224,680 {2023.' £164,222). this led to a deficit of £7,661 12023-. £61,333 surplus). A cash balance of £116,60412023.' £124.0091 was carried forward. During tha financial year Ihe Chorus donated £60,000 to the Endowmenl Trust for investment in the Legacy fund. The Chorus took part in some 18 prolects, of which 12 were wilh the LSO anij 6 with th8 South West Radio Symphonieorch8st&r. Wod(shops for tenors and basses were held in May 2024, funded by the Ch¢)TUS, both to fill a gap in the s¢hedul8 when the altos and sopranos We￿ rehoarsing Mahler 3 and as part of our ongoing strategy to improve vocal pgrfomianc£ of the Chows. The Chows was invited lo lake part in a tour of Britten's War Requiem lo sev8ral German cities with the SWR Symphonieorchester and Vokalensemble. This was fully funded and financially bgneficial lo the Chorus. Season 23-24 was the second year of the new working arrangements with the LSO. These appear lo have worked favourably, though choice of repertoire is a factor as some Pfojecls le.g. Mahler 31 have a small rehearsal footprint. We ar8 grateful to the Endowmgnt Trust which providgd some £15,000 to thg Chorus lo help with its overheads and admlnistrative costs. The Chorus was able lo donat8 £60,000 to Ihg Endowment Trust to invest in the Legacy Fund. Mosl of this money ¢amg from fees earned for the Nefflix Maestro project. The LSC Friends contributed to Chorus activities for which we are grateful. Further consullan¢y was funded to support the ongoing EDI project. LSOILive royalties were higher than the previous season al £2,628 {2023: £1,145) and income from PPL was similar to the prior year £93312023.. £9761. A new Business plan covering 2024 to 2028 was agreed by Council. We are gr8teful to the Thistle Trust who have provided us wilh ￿ grants of £5,000 and £10,000 lo help with our vocal improvement strategy. The first has been used to support one on one voc81 Coaching for indwidu81s. vocal coaching at rehearsals for specific projects and the workshop for tenors and basses. The second grant wll help with the costs of the chorus funded A Capella concert in June 2025. Recent comments on the improved sound and balance of the Chows made by the orchestra and conductors Andre Thomas and Sir Antonio Pappano demonstrate the strategy is working. Council members and Officers work on a voluntary basis. The time offered gratis is estimaled to be worth at least £90.000 covering legal, financial. digital and 8dministratsve expertise. Hire of music from the Chorus Music Library to other or9anisations continues and provides income lo the Chorus. We are grateful to the Chorus Librarian for supporting this activity and the considerable amounts of time they provide gratis. Page 8 WinLiaiSyrwithe'irwts¥Don Rd &JCGUJJ.9GXJ 21 W 20Z5 13.02.20 BS.. (Lrrc *ll D ljl P I IR4 Th• London Symph¢)ny Chorn• (A company 11ml1￿ by guarnnt••) Tru8ta88' r•port l¢ontlnu•d) for th• y•ar end•d 31 August 2024 ¢. Res•rvo5 polky Thè Chorus seeks to maintain sufficient unrestricted r8serve$ of £77.093 12023.. £94.6901 aTrJ restricted reserves of £12,41912023.. £2,483) held at 31 Augu$l 2024 to support ils core Charitab￿ aclrvities and to provKle for contingencies wthich rnay arise. Slzeable reseryes arg hèld by the London Symphony Chorus End0¥￿TrÈnt Trust. Thè Endowment Tru51 holds and manages both the Chonjs Endowment Fund and Chorus Logacy Fund. Both funds have seen good perf0m￿nCe over the financial year. The LSC Endowment Trust accounts provide deloils of their ￿rrent value. The Endovdmenl fuThl oxpects lo continue to be able to provid8 fijnds from il# income stream lo the CtKrfus on an annual basis, vhbich will be used lo help with Chorus operational and admlnislrative costs. In additNJn, from timé to time, tho Endowment fvnd hdps wlth costs of spedfic activit￿8 such as Tours and Commissions. Thg Legacy frjnd continues lo fund the mor• stratogic a(*¥￿e5 of the Business plan. eg vocal wnprovement activities. supportfor the EDI project. Th8 costs of our part-tlme administrator were oround £11,0(M). slighty m￿9 than ts figure of £10,(K￿ In our budget. d. Fulur• Pl•n$ As part of the Vocal IMpr0￿ment 8tTategy the Chorus will put on an A Cawlla concert in June 2025. The Thi$1 Trust and LSC FrOend8 wlll provlde finandal support for this ¥tivity. Season 25126 wlll bg ¢)ur 601h anniversary and to mark thls occaslon wo ￿Onn1￿j a fvther concert in May 2026 with orchgstra including trNo now commlsslons. Th1$ VAII be funded from Chorus cash reserves and funds from tho chorus Leg8cy furKI. 2027 marks the centenary of the blrth of Slr Coln Davls, who had a Close relatlonshlp wlth the Chws over many years. To celgbrale thk8 centonary the Chorus intends to commission a new work from Sir Jamgs Macmillan wh￿h wo hope to perform in Autumn 2027. This will be funded by Ihe ErKlowment fvnd. The wrrent agreemont wmh the LSO ￿rneS to an ond on 31st July 2025. Preliminary disojsslons are ur¥Jerway on a ￿ntraCt. 11 1$ expected Ihat this wll be broodty similar lo ts existing contrad. The exIsten￿ of our reserves both In the Endowmenl ond Legacy funds will ￿ntInue to be vttal to the future sustainability of the Chorus. Approved by order of thg mÈmb6r8 of the board of Twstoos and slgnad cffi thèir behalf by: 150STryltC*l1 Ollv•r Burro Vice chair Dat6.' 2110412025 Page 9 The London Symphony Chorus IA company Ilmltsd by guarantee) statement of Tru$tee$' r•sponsibilitle$ lor the year ended 31 August 2024 Thè Trustees (who are also the dlreclors of the Company for the purpos8s of company lawl arg r8sponsible for preparing the Trustees. report and the financial statements in accordance with applicable law and Unilod Kingdom Accounting Standard5 (Uniled Kingdom Generally Ac¢epted A￿UntIng Practice}. Company law requires the Trustees lo prepare financial statements for each financial . Under company law, the TTLlStees musl not approve the financlal slalements unless they are satisfied that they give a true and fair vigw of the slate of affairs of the Company and of its incoming resources and application of resources, induding its Income and expendllure, for that period. In preparing these financial statements, the Trustees are required to.. selecl suitable accounting policies and then apply them consistenlly.. obsgrye the methods and principles of the Charitie5 SORP IFRS 102). make judgments and accounting estimates that are reasonabl& and prudent., slate whether applicable UK kcounling Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financlal statements., prepare the financial statements on the going concem basis unless Il is inappropriate to Presume that the Company will continue in business. The TnJslees are re5pon¥ible for keeping adequate accounting records that are sufficient to show and explain the Companys transactions and disdose with reasonable accuracy at any time the finan(ial position of the Company and enable them to ensure that the financial statements Comply with the Companies A¢t 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and slgned on its behaff by.. (￿￿￿￿1*￿￿￿￿6ljD3I•S5TluTc•4l Ollver Burrows Vice Chair Dale.. 2110412025 Page 10 vi￿￿.&￿a￿l¥ Ir£r￿aG￿￿ Rel &ICG.CZJJ-90XJ 21 Apr 2025 13 02.20 681 ILITC +11 D 111 P 13124 Th• London Symphony CIK•ru• IA ¢¢xnpany Ilm5t•d by guarantm) Ind•pfrnd•nt examln•fs r•port for th• y•ar •nd•d 31 August 2024 Indopond•nt •xamln•f$ r•w11o th• Trust•￿ of Th• London Symphony Chorus fth• Company) I rèport lo Ihe tharty Trusteos on my examlnatlon of the accounts ofthe cOrr￿anYfOr tho year onded 31 August 2024. R•sponslbllld•s and ba81* of r•port As the Trustees of the Company land its dlrectors for tho purposes of ￿mparlY1?w) y)u are responslble for the preParat￿n of the accounts in accordan(¥ wf(h the requirgmgnls of the Companies Act 2006 Ilhe 2006 Acri. Having sausfth mytself thal the accounts of Ihe Company are not required to be audited Ur￿er Part 16 of the 20[￿ Act and arg digible for independent examination. I report in re8pecI of my examinali¢)n of the Compan¥s a￿c*￿nts carried out under sedion 145 of the Charities Act 20111.the 2011 ACV). In caryng out my examination I havo followed the Direclions glven by ts Charlty C¢)mmissKJn under seclion 14515Xbl of the 2011 Act. Ind•pondofftt examlnerfs •tatem•nl I have completed my examination. I confirni thal no mattors have come to my attention in connectlon with the examinatDn giwng me cause lo believe.. a¢￿￿￿tIng rec¥)rds were not kept kn resp8cI of the CrKnpany as required by sectlon 386 of the 2006 AGt: or Ihg a¢￿￿nts do not accord with those records.. or tho accounts do not comply with the accounting r8qulrements of sectlon 396 of thè 20C6 Act othgr than any requiremenl that the accounls glve a 'lrue and fairf ￿eW lthlch is not a mattgr ￿nsIdered as part of an indgperKlent examination.. or the accounts have not been prepared In aceL)rdanc* vAth the methcrtts and pr1r￿1p1e$ of th8 Statement of Recommended Pradce for accounting and reporting by char1lies18pplicab￿ to charttles preparing tholr aGcounts In awdanco wllh the Finandal RO￿￿n9 Stsndard appllcable kn tho UK and R9public of Irgland IFRS 102}1. I have no o)ncems and have come across no other matters in connection wth the examination to which attention $houkl be drawn in Ihls report in ofdei to enabl8 a propor understanding of the accounts lo be ￿aChed. ThSs report is mad6 sdgly lo the Companls Trustees, as a body, In accordance with Part 4 of the Charilios (Accotjnts and Reports) Rggulations 2008. My work has been und8rt8k@n $0 that I mlght sL*o to the Companls Trustees those matters l am required to state to them In an Independent examinels raport and for no other purpose. To the fullest extenl pennitted by law, I do not accept or assume respons￿)11￿ lo anyone othèr than the Company and th¢ Companls Trustees 8$ a body, for my WO￿ or for this report. Signed.. Lucy HaTrrnnd Bsc FCA Kmton Ra•v•s LLP Chartered Accountanls 9 Donnlngton Park 85 Blrdham Road Chichester Wgsl Su$sex P020 7AJ LLP Dated.. 231412025 Page 11 Thè London Symphony Choru¥ IA company Ilmltgd by guarantee} Stat•m•nt of financlal actlvltl•$ Iln¢orporatlng Income and •xpendlturn account) lor thè y•ar endgd 31 August 2024 Ro$trlctgd Unr•6trlct•d funds funds 2024 2024 Total funds 2024 Total funds 2023 Not• Income from: Donations and legacies Charitable activities Inveylmenls 15,283 15,790 146,738 1,387 37.821 31.073 146.738 1.387 37.821 16,693 149.125 424 59,313 Other income Total income 1 S.283 201.736 217,019 225.555 Expenditur• on: Raising funds Charitable activities 609 218,724 609 {561 164,278 5,347 224,071 Total expgndlturg 5,347 219,333 224.680 164.222 Not movement in funds 9.936 117,597) 17.661} 61,333 Reconciliall¢n of funds: Total funds brought fotward Net movement in funds 2.483 9.936 94.690 (17.5971 97,173 17,6611 35,840 61,333 Totsl funds carrled fon¥ard 12,419 77,093 89.512 97,173 The Statement of finandal activities includes all gains and Iossgs recognised In the year. The notes on pages 14 10 22 fomi part of these financial statements. Page 12 V*lui.Sw•wr? Irgnsacith R•1 WCts.¢2JJ 9GXJ 21 Apr 2025 13 02 20 BST (UTC +1> D 111 P 15124 Th• London Symph4>ny Choru• {A ¢omp•ny limftèd by guarant¢•) R•glstor•d numb•r: 01271179 Balanu $h••t as at 31 August 2024 2024 2023 Flx•d a•Mts Tangible assets 8,968 8,968 Curr•nt ass•ts Sto¢k8 Debtors Cash at bank and In hand 717 769 9.197 124,009 10 13,616 116,604 130.937 133.975 Creditors.. amounts fallir@ due within one IU0891 145,7701 Total a$¥•ts 1•81 ¢urr•nt Il•bllttl•• 89.512 97.1n Total net U8•ts 89.512 97.173 Charlty funds Reslrictod funds Unrestlict￿ funds 12 12 12A19 77.093 2.483 94.690 Total funds 89,512 97,173 Thè Company was entiued lo 8xamp￿on from audit under soction 477 of the Comp8nle8 Act 2006. The membgrs have not r8qulr8d th8 comp8ny to obtain an audll for the in quèstion In wffdancè wlth thjn 476 of C¢ynpanl88 Act 20(￿. Trustees acknowledge their responsibiliti6s for complwng ￿th tho requlremonts of th8 Act wlth roSP8Ct to accounting r•¢ords and preparation of financAal Staterr￿ts. The financial statements havo been preparod in accordancg wilh the provisions 8pplicabl8 to entlU6s sublecl to the small compan￿$ reglme. The finanaal statements were approvèd and authort$ed for Issue by thè Trustees and signed on Ihok behall by. Ollv•r Burro Vicg chalr D*e'. 2110412025 The notés on pages 14 to 22 fomi part of these financial statements. Page 13 Tha London Symphony Chorus IA ¢ompany limited by guarant80) NotOS to th• finan¢lal statements forthe yearend•d 31 August 2024 Accountlng pollcl•s 1.1 8asi$ of prnparation of financlal statomgnts The financial statements have been prepared in accordance wlh the Charities SORP {FRS 102} - Accounting and Reporting by Charities- Slalemènt of Recomrnended Practice applicable lo chanties preparing their accounts in accordan￿ wf(h the Financial Reporting Sland8rd applicable in the UK and Republic of Ireland IFRS 1021 leftective 1 January 20191, the Financial Reporting Standard applicablè in the UK and Republic of Ireland IFRS 1021 and thè Companies Ad 2006. The London Symphony Chorus meets the definition of a public benefit entity under FRS 102. Assats and liabilf(ies are initially recognised al hlstorical cost or transaction valu8 unless otherwise slated in the rel6vanl accounting policy. 1.2 Golng concern The Trustees assess wh8th8T Ihe use of golng concem is appropriate i.e. whether there are any material uncertaintiès related to events or cond¢tions that may ¢asl significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a riod of al least one year from the datg of authorisalion for issue of the financial statements and have con¢luded that the Charity has adequate resources lo contlnue in operational existence for the foreseeable future and there are no material uncertainties about the Charitys ability to continue as a going concern, thus th&y continue lo adopt the going concem basls of accounting in preparing the financial statements. 1.3 In¢omo All income is recognised on¢e the Company has entitlement to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies Is tjependent on e5tsblishing entitlement, the probability of receipt and the ability to estimate with sufFi¢ienl accuracy the amount re￿1Vable. Evidence of entitlement lo a le9acy exists when the Company has sufficient evidence that a gift has been left to them lthrough knowledge of the existence of a Val￿ will and the death of the benefactor) and the exècutor is satisfied that the propety in question will not be required lo satisfy claims in the estate. Receipt of a legacy musl be recognised when it is probable Ihat it will be received and the fair value of the amount receivable. which wll generally be the expected cash amount lo be distributed to the Company. can be reliably measured. Income tax recoverable in relation lo donations received under Gift Aid or deeds of coven8nt is recognised al the lime of the donation. 1A Exp8nditure Expendilure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third paty, il 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 dassified by acttvity. The ￿StS of e8ch activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to 8 single activity are allocated direclly to that a¢livity. Shared costs which contribute to more than one a¢tivty and support costs which are not attributable to 8 single activty are apportioned be￿een those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent. and depreciation char98s allocated on the portion of the asset's use. Expenditure on raising funds indudes all expenditure incurred by the Company to raise funds for its Charitsble purposes and includes costs of all fttndraising aclivllies events and non-charitable trading. Page 14 V￿UalS￿Jnat￿1fj Tfan$i¢tsoTh Rol &￿G£ZjJfjG￿ 21 W 2025 13.0220 8ST IUTG +11 D ljl P 17124 Th• London Symphony Choru• (A ￿MPanY Ilmll•d by guarante•} Not•s to Ihg flnanclal slal•ments for th• y•ar •1bd•d 31 August 2024 Accountlng pollcl•s {contlnu•d} 1A Exp•ndltur• (contlnu•d) Expenditure on chaiitable aclivltbgs 1$ In(#Jrred on dlroclly undertaking the activitigs vthich furthor the Companls obleclives. as well as ony associated support tosts. 1.5 Tanglble nx•d •s*•ts and d•pM¢latlon Tangible fixfAI assets ts)stiTrJ £50 or more are Gap6ts11sed and rgctrJnised whgn future economic benfjfits 8r8 probable and the t￿t or value of the asset can b8 mea5urod reliably. Tanglble fixgd assets are initially recognised at o)st. After rectynhion. under the cost rrndel. tanglble fixed assets are m6asurgd at cost accumulated depre￿ation and any accumulated impairrnent losses. Al costs inCUr￿d to bring a tsnglb￿ fixed asset into its intended VKJrking condition $houkl be included in the measurement of cost. Deprgdation Is charged so as to allo￿18 the cost of tangible fixed assets les8 their residu81 value over thelr estimated usefijl lives, using the $traKJh14ine method. Depredation is prowded on the fdlowing basis.. Music Llbrary ChoNs Website Office equipment Computer sO￿are 33% on cost 20% on cost 25% on cost 25% on cost 1.6 Slo¢k8 and work In progr••s Stocks and work In progress are valued 8t the lower of cost and net realigble value after making due allowan¢9 for Obso￿te and slow-moving stocks. Cost indudes all dlrncl costs and an appropriate proportion of r￿ed variablo ovèrhoads. 1.7 D•btor• Trade and other debtors are recognise(l at the settlement amount after any trade discount offered. PrepayTnenl$ are valu8d #l the amount prepaid n81 of any trade discounts due. Ca•h al bJDk and In hand Cash at bank and in hand includes cash and short-tèm highly liquid inveslmonts with a short maturity of thrte months or less Irom the date of acqulsilw or openlng of Ihe dèposit or similar account. 1.9 Llablllllts and provlslons Lia￿l[￿eS are re¢ognised whèn therè Is an obll9ation at the Balance sh881 date as a résult of a past event. it 15 probable that B transfer of oconomlc benefit will be required in setuèment. and the *m¢)unt of settlement can be estlmaled rellably. Liabiltbes are re￿nised at the amount that Company an￿dPa188 K wlll pay to setdè the dobt or the amount h h?$ recelved 88 advancéd payments lor tho goods or $0rvi¢es h must provble. Page 15 Thg London Symphony Ch¢ru$ IA ¢ompany Ilmltèd by guaranteo) Notes to the flnan¢lal Statoments for the year ended 31 August 2024 Accounting poll¢lo$ {contlnued) 1.10 Flnanclal Instrum•nt$ The Company only has financial assets and finanaal liabilitses of a kind that qualfy as basic financlal instnlmonts. Basic finan¢ial instruments are initially recognised al Iransacllon value and subsequently measur8d al their settlemgnl value with the exception of bank loans whlch are subsequenuy measured at amortised cost uslng the effective interest method. 1.11 Fund ac¢ountlng General funds are unrestricted funds which are available for use at th8 discret•)n of the Trustees In furtherance of the general objectives of the Company and which have not been ijesignated for other purposes. Restricled funds are funds which are lo be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of e8ch restricted fund is set out in the notes to the financial $talemenls. In¢om• from donations and lega¢l R•stricted Unrestrl¢t•d funds funds 2024 2024 Total funds 2024 Donations 15,283 15.790 31.073 Reslrfcled Unrestricted funds fijnds 2023 2023 Total funds 2023 Donations Legacies 9,943 1,750 5,000 11,693 s,￿0 9,943 6,750 16,693 In¢om• from eharltable activitie$ Vnr•strlcted funds 2024 Total funds 2024 Income from charitable activities- Perfomiances 146.738 146,738 Page 16 VIrty￿sIgnalyTfj T1$r￿a￿On Rel &jcO4ZJJ.gQ￿ 21 A￿2￿ 13..02&) BST (UTC +11 D In p 14 Th• London Symphony Chorn• IA ¢offlpny Ilmlt¢d by guarantse Not•s to th• Ilnan¢lal stat•m•nts for the y•ar •nd•d 31 August 2024 Incom• from charltabl• actlvlll•• I￿ntInu•d) UnrostriGtad fijnds 2023 Total fvnds 2023 Incom8 from charitable ad1vit￿S- Perfomian¢o8 149.125 149,125 Inv•$tm•nt Incom• Unr•strld•d fvnd• 2024 T¢)tsl fvnd$ Bank Interest receiv8b 1,387 1.387 Unrestricted fund$ 2023 Totsl funds 2023 Bank In18rest recèivable 424 424 An*ly•ls of •xp•ndltur• on eharltsbl• acllvltles Summary by fund typ• R•strlct•d Unr•strfct•d fvnds funds 2024 2024 Total 2024 Perfomiances 5,347 218.724 224071 Rethcted Unrestricted funds funds 2023 2023 Tot81 2023 Perfomiances 154,794 164.278 Page 17 ViplwiSyi4'urC 1ra' br￿￿¢. f IJI 5GK. ?1 Jlpr 2025 I?.￿ ?d BS 11 pl¢ Trl,. rj 1 1 P W24 Th• London Symphony Chor IA ¢¢)mp•ny Ilmlt•d by 9uarantse) Notes to th• flnanclal $tstsmonts for tho y•ar •nded 31 August 2024 Ind•p•nd•nt •xamln•rf$ r•mun•ratlon 2024 2023 Fees payable to the Companrfs Independent examin8r for thé independont èxaminatlon of the Compan￿3 annual accounts Fees payable to the Companls independènt examlner in rgspoct ot. All other sèrvic88 not Induded above 2.195 1,780 1.305 1.060 Trustè•s' rnmunernll¢)n and •xpons•8 DUry￿ the year, no Trustees recewed any remuneratlon or other benellt$12023- £NIL). During the year ended 31 August 2024. 5 Trustees recelved Telmbursempnl of expenses totalliThJ É509 {2023- 1 Trustee £365) T•nglbl• fixed as8et• Chon W•bslt• Muslc Offlc• Computsr Llbrary •qulpm•nl Softwarn Totsl C￿t or valuation At 1 Septemb&r 2023 Ad￿￿onS 31010 47A45 1,263 80.9TT 333 At 31 August 2024 32.010 48,708 333 1.522 82.573 Depr•¢latlon At 1 Seplgmber 2023 Charge for tho y8ar 27,150 1,620 43,337 2,238 72.IKIg 3.900 42 At 31 August 2024 28.770 45,575 42 1,522 75.909 N•t book valu• At 31 ALb3USt 2024 3.240 3.133 201 At 31 August 2023 4,108 8.968 Page 18 VIrtLdSignawie Transaaw Ref WcfyCU-￿Xj 2% 2025 13.0220 esT IUTC +11 D 111 P21124 Th• London Symphony Chorus IA company Ilmltgd by guarantw) Notos to th• flnanclal Jtat•m•nts for th• y•ar •nd•d 31 August 2024 Slock# 2024 2023 Stock of music foldèrs Car park tokens 311 416 717 769 10. D•bto 2024 2023 Du• wlthin on• year Trad& debtors Other debtors Pr•p4wTrents and ¥eLNed Incom¢ 5.973 14 7.$97 9,183 13.616 9.197 11. Cr•dltors: *Jnounts falllng du• wlthSn one y••r 2024 2023 Trode Credllors Frionds Scheme Other tsxalion Music D8posIts Accruals and deferred Incomg 4,279 12,365 4,631 13,795 10,7CKI 14.537 7.749 13.855 11.943 48,089 45,770 2024 2023 Mov•rn•nt on lh• b•lanc• of Frlonds Sch•m• h as follows: Balan￿ a$ al 1 S8Ptembgr 2023 Income In ￿ar Expenditur6 in year 12,365 2,422 (250) 11,755 2,589 11,9791 14.537 12,36S Page 19 '1￿￿8￿￿111 4 sven￿￿1￿r ii&.' JJ gGL 21 2fQS 13 ￿.20 R< ,'LIIC K11 1 > 29 £4 Th• London Symphony Choru• IA company Ilmlt•d by guarnntsa) Noto$ lo tho flnanclal sta¢•mfrnts for th• year •nd•d 31 August 2024 12. Statèmènt of fvndi S¢•t•m•nt of fund$- Guvr•nt y•ar 8alanu al 1 S•pt•mb•r 2023 8alanc• at 31 August 2024 In¢omo Expfrndlture unrn8trlct￿ funds General Funds 94.690 201.736 {219.3331 TT.093 R05trfcl•d funds Thistle Trust- Vo(al Improvement Chofus welfare Indusfvlty 8rwJ Equallty Project Elijah Scores War ReqU￿M Sr1)￿$ 15.000 250 13.654} 1250 1850) (588) 1.633 33 2A83 15,283 15,347 12,419 Totsl of fund• 97.173 217.019 {224.680) 89,512 Elltsh Scores - DurlNJ 2023 £1,779 was donated to fund the purchese of Elll8h Scores. The fv11 £1,779 was spent on the purchase of the scores, which is indLNled wFthin Tangible Fixed Assets on th8 Balance Sheet. The expenditure of £588 sho1￿ above relates to ihe depreclatth In the year of the Elllah Scores, leavlng a balance of£1,045 withn Tangible Fixed As¥el$ as at 31 August 2024 War Requigm Scores - During 2024 £33 was donated to fund the purchase of War Requiem Scores. The full £33 was spenl on the purchase of the scores. which is included within Tangible Fixed Assets on Ihe Balance Sheet The expenditure of £5 shovm above rg1818$ lo the depreciation in Ihe year of the War Requlem Scores, leavlrKJ a b818nce of £28 wlthln Tanglbbe Flxe(l Assets as at 31 August 2024 Thistle Trust - During 2024 a giant of £15.000 was donated to Contribute to the chadty meeting ils obieclNes, in parlicular vocal coaching for members identlfied at their inilial audIt￿n or r&audMion as needing help wilh their vocal technique. Page 20 V¥I￿s￿n￿lVrf Tiaf&Acion Rel. ￿.cZjJ.9tsXJ2l Api 20ZS 13 02￿0 BST (UT¢ +11 D 111 P 23r24 Th• London SyrnPh¢￿y Choru8 IA Company Ilmlt•d by guarnnts•) Not•s to th• flnan¢l•l stat•ments for ¢h• y•ar •nd•d 31 August 2024 12. Stalorn•nt of fvnds Icontlnu•d) Slat•mnt offi•nd# . prlor y•ar Balan￿ at 1 Septemb8r 2022 Balance al 31 August 2023 Transfers inlout Incx)me Expendllure Unr•8trlct•d fvnds General Funds 34.020 215,612 1154.7381 12041 94,690 Restrld•d fund• Chorus welfare Indusivity and Equality Prdect Jonah Proi8Ct Elijah Scoras 120 1.700 562 {886} {850} 17.602) 11461 204 7.602 1,779 1,633 1.820 9,943 19,484 204 2.483 Total of fund• 35.840 225.555 (164,2221 97,173 l& Analysls of n•t *•s•ts b•tw••n funds •lpl8 of not •$s•ts bot￿•￿ fvnds - curront p•rlod R•strl¢ted Unro¥trld•d funds fund$ 2024 2024 T4)ts1 nds 2024 Tangible fixod assots Curr6nt asset$ Creditors due within one 1.074 11,345 5.590 119.592 148.089} 130.937 {48,0891 12.419 77.093 89.512 Page 21 The London Symphony Chorus (A compony limbted by guarantee) Notes to the flnonclal statements for the y••r ended 31 August 2024 13. Analysls of net assets b•tween funds (cont1n￿d) Analy$l$ of net assets botw¢6n funds- prlor period Restricted UnTaStricted funds funtls 2023 2023 Totsl funds 2023 Tangible fixed assets Current assets Creditors due within one year 1.633 850 7,335 133.125 145,770) 8,968 133.975 145,7701 2,483 94.690 97.173 Total 14. Rolated party tran$a¢tlons During the year ended 31 August 2024 grants lotalling £15,000 12023.. £Nill wer8 received from The Lon¢Jon Symphony Chorus Endowment Fund. Durin9 the year the Chorus made a payment to the Unrestricted Fund ILegacy Fund) of the London Symphony Chorus Endowment Fund of £60,0W. Page 22