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2021-12-31-accounts

		CONTENTS
			Page
Legal and administrative details
Co-Chairmen	and Trustees' Report		2-6
Statement of	responsibilities ofthe	Trustees
Independent	Auditors' Report		8-11
Statement of	Financial Activities		12
Balance Sheet			13
Statement of	Cash Flows		14
Notes to the	Financial Statements		15 —29

			Restricted	Unrestricted	Total	Total
		Note	funds	funds	funds	funds
			2021	2021	2021	2020
						As restated
					F	6
INCOME AND ENDOWMENTS
FROM:
Donations and legacies		2		5,377	5,377	1,391
Charitable activities		3	369,630	1,141,239	1,510,869	1,505,870
TOTAL			369,630	1,146,616	1,516,246	1,507,261
EXPENDITURE ON:
Raising funds			2,316	124,172	126,488	135,588
Charitable activities			230,620	1,139,614	1,370,234	1,305,464
TOTAL			232,936	1,263,786	1,496,722	1,441,052
NET INCOME I (EXPENDITURE)			136,694	(117,170)	19,524	66,209
Transfer between funds		16
NET MOVEMENTIN	FUNDS		136,694	(117,170)	19,524	66,209
RECONCILIATION	OF FUNDS:
Total funds brought	forward			643,990	643,990	577,129
Other adjustments				(34,065)	(34,065)	652
Total funds carried	forward	16	136,694	492,755	629,449	543,990

			BALANCE SHEET
		AS AT 31 DECEMBER		2021
		Note		2021		2020
						As restated
					f	f
FIXEDASSETS
Tangible fixed assets				90,496		90,770
CURRENT ASSETS
Debtors: amounts	falling due
within one year		12	262,541		493,576
Debtors: amounts	falling due
after more than one year		13	50,417
Cash at bank and	in hand	14	412,301		212,219
			725,259		705,795
CREDITORS: amounts falling due within one year		16	~386,366		(152,575)
NET CURRENT ASSETS				538,953		553,220
TOTAL ASSETS	LESSCURRENT LIABILITIES			629,449		643,990
THE FUNDS OF	THE CHARITY
Restricted funds		16		136,694
Unrestricted funds		16		491,755		642,990
Designated funds		16		1,000		1,000
TOTAL CHARITY	FUNDS			629,449		643,990

				STATEMENT OF CASH FLOWS	STATEMENT OF CASH FLOWS	STATEMENT OF CASH FLOWS
							2021	2020
								As restated
								6
Cashtlows from	operating		activities
Net income							19,524	66,209
Adjustments for:
Depreciation adjustment							2,812	2,646
Accruals and prepayments		non-cash			adjustments		(10,033)	(23,390)
Non-cash provisions							10,033	10,717
Financing costs							3,687	2,733
Taxation							11,417	4,861
Foreign currency	translation						(34,065)	652
Changesin:
Trade and other	debtors						180,618	(132,992)
Trade and other	creditors						33,731	(107,401)
Cash generated	from operations						217,724	(175,965)
Taxation							(11,417)	(4,861)
Cash generated	from/ (used		in)	operating		activities	206,307	(180,826)
Cashflows from	investing	activities
Purchase of tangible assets							(2,538)	(2,876)
Net cash used in	investing	activities					(2,538)	(2,876)
Cashtlows from	financing	activities
Financing costs							(3,687)	(2,733)
Net cash used in	financing	activities					(3,687)	(2,733)
Net increase i(decrease)		in cash and cash equivalents					200,082	(186,435)
Cash and cash	equivalents		at	beginning		ofyear	212,219	398,654
Cash and cash	equivalents		at	end	ofyear		412,301	212,219

		2021	2021	2020
		6	E
European	Commission	600,000	515,762	533,820
UK-British Council		22,200	19,083	30,000
Spain		26,450	22,737	23,533
Finland		23,000	19,771	20,463
Germany		20,000	17,192	17,794
Sweden		16,858	14,491	15,206
Austria		17,000	14,613	15,125
The Netherlands		18,500	15,903	16,459
Greece		13,600	11,691	12,100
Czech Republic		15,000	12,894	13,345
Poland		15,000	12,894	13,345
Romania		15,000	12,894	13,345
Slovakia		11,500	9,885	10,232
Denmark		10,750	9,241	9,564
Malta EURO grant		9,000	7,736	8,007
Cyprus		6,500	5,587	5,783
Luxembourg		10,650	9,155	8,586
Portugal	- Palacio National	12,300	10,573	8,052
Portugal	- Instituto Camoes			2,892
Belgium	Flemish	8,000	6,877	7,118
Estonia		6,500	5,587	5,783
Hungary		5,733	4,928	5,122
Latvia		5,000	4,298	4,449
Slovenia		2,800	2,407	2,491
			766,199	802,614

5.	SPONSORS	SPONSORS	SPONSORS
												2021	2020
												E	f
Corporate			contribution									42,980	80,073
												42,980	80,073
6.	OTHER INCOME
												2021	2020
													f
Donafionsin kind												68,703	81,684
Brochures			advertising									3,954	3,523
Concert		promoters		and broadcasting			receipts					385,010	286,383
Sundry		other income										29,122	29,168
											486,789		400,758
Include	d	in	concert	promoters	and	broadcasting			receipts	is an amount	of6180,000 (2020:6131,903
receive	d	from the Community			ofFerrara.
7.	ANALYSIS OF RESOURCES						EXPENDED		BYEXPENDITURE TYPE
					Staffcosts			Depreciation		Other costs		Total	Total
												2021	2020
													As restated
													f
Fundraising			and publicity		58,831				562	67,095		126,488	135,588
Direct	charitable				259,509				2,250	1,108,475		1,370,234	1,305,464
					318,340				2,812	1,175,570		1,496,722	1,441,052

Other costs
		2021	2020
			As restated
		E	f
Concert expenses		334,089	369,766
Brochures		14,026	16,095
Accommodation and subsistence		291,490	279,531
Travel		161,174	159,919
Premises		1,420	2,035
Fundraising and marketing		40,800	33,305
Communications		5,245	9,992
Legal and professional		35,757	63,599
Auditors remuneration:	audit fee	27,749	12,198
Auditors remuneration:	grant audit	6,750	6,750
Office costs		136,474	93,069
Miscellaneous expenses		62,729	18,638
Trustees expenses			946
Exchange differences		2,770	(3,072)
Losses and contingent	liabilities	43,680	1
Income tax and VAT		11,417	4,861
		1,175,570	1,067,633

8. CHARITABLE EXPENDITURE
	2021	2020
		As restated
		E
Orchestra	791,140	805,996
Support costs	576,844	497,345
Depreciation	2„250	2,123
	1,370,234	1,305,464

9. ANALYSIS OF SU	PPORT	COSTS
			Raising	Charitable	Total	Total
			funds	activities	2021	2020
						As restated
						E
Governance				70,256	70,256	82,547
Finance			737	2,950	3,687	2,733
Office and administration	costs		19,710	239,977	259,687	131,767
Salary costs		(Note 10)	58,831	259,509	318,340	370,765
Establishment costs			284	1,136	1,420	2,035
Exchange differences			554	2,216	2,770	(3,071)
Other overheads				800	800
			80,116	576,844	656,960	586,776
10. STAFF COSTS
					2021	2020
Staff costs were as follows:					F	f
Wages and salaries				247,465		324,401
Social security costs					46,689	24,064
Pension					24,186	22,300
				318,340		370,765

		2021	2020
		No.	No.
Raising	funds
Direct	charitable

2021	2020
No.	No.

11. TANGIBLE FIXEDASSE	TS
		Fixtures,
		fittings and
	Computer	office	Musical
	equipment E	equipmentf	equipment 6	Total 6
Cost
At 1 January 2021	25,852	50,745	78,865	155,462
Additions	2,538			2,538
At 31 December 2021	28,390	50,745	78,865	158,000
Depreciation
At 1 January 2021	24,472	35,002	5,218	64,692
Charge for year	448	1,233	1,131	2,812
At 31 December 2021	24,920	36,235	6,349	67,504
Net Book Value
At 31 December 2021	3,470	14,510	72,516	90,496
At 31 December 2020	1,380	15,743	73,647	90,770

		2021	2020
		E	E
Income debtors		31,292	66,406
Other debtors		10,294	4,439
Social security	and other taxes	8,154	30,889
Grants receivable		212,801	391,842
		262,541	493,576

13.	DEBTORS: AMOUNTS	FALLING DUE AFTER	MORE THAN ONE YEAR
			2021	2020
			F
Grants	receivable		50,417
			50,417
14.	CASH AT BANK AND	IN HAND
			2021	2020
			E	E
Cash	at bank		404,402	204,320
Cash	in hand		7,899	7,899
			412,301	212,219

			2021	2020
				As restated
Amounts falling due		within one year		E
Trade creditors			60,557	22,808
Social security	and other taxes		36,179	47,440
Other creditors			47,361	30,085
Accruals and deferred		income	42,209	52,242
			186,306	152,575

Balance	sheet	sheet				Note	At	31 December 2020	Increase I
								As restated	(Decrease)
								E	E
Creditors:		Due	after less	than one year		15		152,575	(40,916)
Statement		ofFinancial		Activities			For	the year ended 31	Increase I
								December 2020	(Decrease)
								As restated
								E
Raising funds								135,588	(3,077)
Charitable		expenditure						1,305,464	(37,839)
Statement		ofCashflows					For	the year ended 31	Increase I
								December 2020	(Decrease)
								As restated
								E
Net income								66,209	40,916
Changes	in: Trade and other creditors							(107,401)	(40,916)
Cash generated			from operations					(175,965)
Above changes			have resulted		in			At 1 January 2021	Increase I
following	re-statement			offunds;				As restated	(Decrease)
								E	E
Unrestricted		funds				16		642,990	40,916