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|---|---|---|---|
|Legal and administrative||details||
|Co-Chairmen|and Trustees' Report||2 —7|
|Statement
of|responsibilities
ofthe Trustees|||
|Independent|Auditors'|Report|9-12|
|Statement of|Financial|Activities|13|
|Balance Sheet|||14|
|Statement
of|Cash Flows||15|
|Notes to the|Financial|Statements|16—28|
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||||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||Note|funds|funds|funds|funds|
||||||2022|2022|2022|2021|
||||||E|6|F|f|
|INCOME AND ENDOWMENTS|||FROM:||||||
|Donations
and legacies||||2||13,838|13,838|5,377|
|Charitable
activities||||3|494,601|1,577,946|2,072,547|1,510,869|
|TOTAL|||||494,601|1,591,784|2,086,385|1,516,246|
|EXPENDITURE ON:|||||||||
|Raising funds||||7|5,824|82,899|88,723|126,488|
|Charitable
activities||||8|380,385|1,622,011|2,002,396|1,370,234|
|TOTAL|||||386,209|1,704,910|2,091,119|1,496,722|
|NET INCOME I(EXPENDITURE)|||||108,392|(113,126)|(4,734)|19,524|
|NET MOVEMENT|IN FUNDS||||108,392|(113,126)|(4,734)|19,524|
|RECONCILIATION||OF FUNDS:|||||||
|Total funds brought||forward|||136,694|492,755|629,449|643,990|
|Other adjustments||||||(37,975)|(37,975)|(34,065)|
|Total funds carried||forward||16|245,086|341,654|586,740|629,449|
##
||||BALANCE SHEET|BALANCE SHEET|||||
|---|---|---|---|---|---|---|---|---|
|||AS|AT 31|DECEMBER 2022|||||
|||||Note|2022||2021||
|FIXEDASSETS|||||||||
|Tangible
fixed assets||||||86,084||90,496|
|CURRENT ASSETS|||||||||
|Debtors: amounts|falling due within one year|||12|449,559||262,541||
|Debtors; amounts|falling due after more than|one|year|13|159,647||50,417||
|Cash at bank and|in hand|||14|443,816||412,301||
||||||1,053,022||725,259||
|CREDITORS: amounts
falling due within one||year||15|(552,366)||(186,306)||
|NET CURRENT ASSETS||||||500,656||538,953|
|TOTAL ASSETS|LESSCURRENT LIABILITIES|||||586,740||629,449|
|THE FUNDS OF THE CHARITY|||||||||
|Restricted funds||||16||245,086||136,694|
|Unrestricted
funds||||16||340,654||491,755|
|Designated
funds||||16||1,000||1,000|
|TOTAL CHARITY|FUNDS|||||586,740||629,449|
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|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||f|6|
|Cashflows
from|operating||activities|||||
|Net income||||||(4,734)|19,524|
|Adjustmen/s
for:||||||||
|Depreciation
adjustment||||||3,803|2,812|
|Accruals snd prepayments|||non-cash|adjustments||332,837|(10,033)|
|Non-cash
provisions||||||16,363|10,033|
|Financing
costs||||||2,192|3,687|
|Taxation||||||11,925|11,417|
|Foreign currency|translation|||||(37,975)|(34,065)|
|Changesin:||||||||
|Trade and other|debtors|||||(296,248)|180,618|
|Trade and other|creditors|||||16,860|33,731|
|Cash generated|from operations|||||45,023|217,724|
|Taxation||||||(11,925)|(11,417)|
|Cash generated|from
/ (used in) operating||||activities|33,098|206,307|
|Cashflows
from|investing||activities|||||
|Purchase
oftangible assets||||||(931)|(2,538)|
|Foreign exchange
loss on||assets||||1,540||
|Net cash used
in|investing|activities||||609|(2,538)|
|Cashflows
from|financing||activities|||||
|Financing
costs||||||(2,192)|(3,687)|
|Net cash used
in|financing|activities||||(2,192)|(3,687)|
|Net increase
/ (decrease)|||in cash and cash equivalents|||31,515|200,082|
|Cash and cash|equivalents||at beginning||ofyear|412,301|212,219|
|Cash and cash|equivalents||at end ofyear|||443,816|412,301|
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|.|DONAT|ION|S
AND LE|GACIES|||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||6|8|
|Other|donations||||13,838|5,377|
||||||13,838|5,377|
|.|INCOMING||RESOURCES FROM CHARITABLE ACTIVITIES||||
||||||2022|2021|
||||||6|6|
|Government||grant receivable||(Note 4)|950,511|766,199|
|Grant|receivable||from Italian|Ministry of Culture|213,190|214,901|
|Corporate
contribution||||(Note 5)|59,693|42,980|
|Other|income|||(Note 6)|849,153|486,789|
||||||2,072,547|1,510,869|
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||||2022|2022|2021|
|---|---|---|---|---|---|
||||6|F.||
|European||Commission|850,000|724,847|515,762|
|UK-British||Council|||19,083|
|Spain|||26,450|22,556|22,737|
|Finland|||23,000|19,613|19,771|
|Germany|||20,000|17,055|17,192|
|Sweden|||16,550|14,113|14,491|
|Austria|||17,000|14,497|14,613|
|The Netherlands|||18,500|15,776|15,903|
|Greece|||13,600|11,598|11,691|
|Czech Republic|||15,000|12,791|12,894|
|Poland|||15,000|12,791|12,894|
|Romania|||15,000|12,791|12,894|
|Slovakia|||11,500|9,807|9,885|
|Denmark|||10,750|9,167|9,241|
|Malta EURO grant|||9,000|7,675|7,736|
|Cyprus|||6,500|5,543|5,587|
|Luxembourg|||7„000|5,969|9,155|
|Portugal|||12,300|10,488|10,573|
|Belgium|Flemish||8,000|6,822|6,877|
|Estonia|||6,500|5,543|5,587|
|Hungary|||5,179|4,417|4,928|
|Latvia|||5,000|4,264|4,298|
|Slovenia|||2,800|2,388|2,407|
|||||950,511|766,199|
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|||||2022|2021|
|---|---|---|---|---|---|
|||||6|f|
|Corporate|contribution|||59,693|42,980|
|||||59,693|42,980|
|6.
OTHER INCOME||||||
|||||2022f|2021
f|
|Donations|in kind|||212,827|68,703|
|Brochures|advertising|||1,876|3,954|
|Concert promoters||and broadcasting|receipts|525,817|385,010|
|Sundry other income||||108,633|29,122|
|||||849,153|486,789|
##
|.
ANAL|YSIS OF RES|OURCES EXPE|NDED BYEXPE|NDITURE TYPE|||
|---|---|---|---|---|---|---|
|||Staff costs|Depreciation|Other costs|Total|Total|
|||2022|2022|2022|2022|2021|
|||6|6||6|f|
|Fundraising|and publicity|49,377|761|38,585|88,723|126,488|
|Direct charitable||215,284|3,042|1,784,070|2,002,396|1,370,234|
|||264,661|3,803|1,822,655|2,091,119|1,496,722|
|Other costs||2022|2021|
|---|---|---|---|
|||f|E|
|Concert expenses||569,829|334,089|
|Brochures||17,338|14,026|
|Accommodation
and subsistence||636,242|291,490|
|Travel||309,974|161,174|
|Premises||1,938|1,420|
|Fundraising
and marketing||7,423|40,800|
|Communications||4,241|5,245|
|Legal and professional||50,028|35,757|
|Auditors
remuneration:|audit fee|4,921|27,749|
|Auditors
remuneration:|grant audit|6,750|6,750|
|Office costs||156,616|136,474|
|Miscellaneous
expenses||39,109|62,729|
|Trustees expenses||1,428||
|Exchange differences||4,680|2,770|
|Losses and contingent|liabilities|213|43,680|
|Income tax and VAT||11,925|11,417|
|||1,822,655|1,175,570|
##
|.
CHARITABLE EXPENDITURE|||
|---|---|---|
||2022|2021|
||f|E|
|Orchestra|1,513,395|791,140|
|Support costs|485,959|576,844|
|Depreciation|3,042|2,250|
||2,002,396|1,370,234|
##
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|||||Raising|Charitable|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|activities|2022|2021|
|||||f|8|f|8|
|Governance|||||61,699|61,699|70,256|
|Finance||||438|1,754|2,192|3,687|
|Office and administration||costs||15,408|201,928|217,336|259,687|
|Salary costs|||(Note 10)|49,377|215,284|264,661|318,340|
|Establishment|costs|||388|1,550|1,938|1,420|
|Exchange differences||||936|3,744|4,680|2,770|
|Other overheads|||||||800|
|||||66,547|485,959|552,506|656,960|
##
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|0.
STAFF COSTS|||||
|---|---|---|---|---|
||||2022|2021|
|Staff costs were as follows:|||8|8|
|Wages and salaries|||221,691|247,465|
|Social security costs|||25,193|46,689|
|Pension|||17,777|24,186|
||||264,661|318,340|
|he average weekly number|of employees|during the year was as follows:|||
||||2022|2021|
||||No.|No.|
|Raising funds|||||
|Direct charitable|||||
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|1.
TANGIBLE|FIXEDASS|ETS||||
|---|---|---|---|---|---|
||||Fixtures,|||
||||fittings and|||
|||Computer|office|Musical||
|||equipment|equipment|equipment|Total|
|Cost||||||
|At 1 January 2022||28,390|50,745|78,865|158,000|
|Additions||738|193||931|
|At 31 December 2022||29,128|50,938|78,865|158,931|
|Depreciation||||||
|At 1 January 2022||24,920|36,235|6,349|67,504|
|Charge for year||1,743|937|1,123|3,803|
|At 31 December 2022||26,663|37,172|7,472|71,307|
|Foreign exchange|gain/(loss)|(674)|(8,292)|7,426|(1,540)|
|Net Book Value||||||
|At 31 December 2022||1,791|5,474|78,819|86,084|
|At 31 December 2021||3,470|14,510|72,516|90,496|
|12.|DEBTORS:AMOUNTS|FALLING DUE WITHIN ONE YEAR|||
|---|---|---|---|---|
||||2022|2021|
||||6|f|
|Income|debtors||6,585|31,292|
|Other debtors|||11,000|10,294|
|Social|security and other taxes||33,742|8,154|
|Grants|receivable||398,232|212,801|
||||449,559|262,541|
|13.|DEBTORS:AMOUNTS|FALLING DUE AFTER MORE THAN|ONE YEAR||
||||2022|2021|
||||E||
|Grants|receivable||159,647|50,417|
||||159,647|50,417|
|14.|CASH AT BANK AND|IN HAND|||
||||2022|2021|
||||6|8|
|Cash at bank|||435,917|404,402|
|Cash in hand|||7,899|7,899|
||||443,816|412,301|
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|5.
CREDITORS:|AMOUNTS
FALLING DUE WITH|IN ONE YEAR||
|---|---|---|---|
|||2022|2021|
|||6|F|
|Amounts
falling due|within one year|||
|Trade creditors||101,788|60,557|
|Social security and other taxes||43,731|36,179|
|Other creditors||31,801|47,361|
|Accruals and deferred|income|375,046|42,209|
|||552,366|186,306|
##
||||Brought|Incoming|Resources|Other|Carried|
|---|---|---|---|---|---|---|---|
||||forward|resources|expended|adjustments|forward|
|Restricted|funds|||||||
|EUYO/EUYOF|||136,694|494,601|(386,209)||245,086|
|Unrestricted|funds||491,755|1,591,784|(1,704,910)|(37,975)|340,654|
|Designated|funds|||||||
|Lionel Bryer|Memorial|fund|1,000||||1,000|
||||629,449|2,086,385|(2,091,119)|(37„975)|586,740|
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