| Page | ||||||
|---|---|---|---|---|---|---|
| Trustees' | annual report (incorporating | the director's report) | ||||
| Independent auditor's |
report to the members | |||||
| Statement | offinancial | activities (including | income and expenditure | account) | ||
| Statement | offinancial | position | 12 | |||
| Statement | ofcash flows | 13 | ||||
| Notes to | the financial | statements | 14 |
| REFERE | NCE and ADMINISTR | NCE and ADMINISTR | ATIVE DETAILS |
|---|---|---|---|
| Registered | charity name | Academy ofStMartin in the Fields (formerly Academy Concert Society) | |
| Charity registration | number | 289294 | |
| Company | registration | number | 01808488 |
| Principal | office and registered | 7Bell Yard | |
| Office | London | ||
| WC2A 2JR |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||
| fuilds | funds | Total funds | Total funds | |||
| Note | ||||||
| Income and endowments | ||||||
| Donations and legacies |
5 | 385,300 | 136,449 | 521,749 | 297,802 | |
| Charitable activities |
6 | 1,942,514 | 2,020 | 1,944,534 | 1,766,621 | |
| Other trading activities |
7 | 146,621 | 146,621 | 50,966 | ||
| Other income | 8 | 197,586 | 197,586 | 146,549 | ||
| Total income | 2,672,021 | 138,469 | 2,810,490 | 2,261,938 | ||
| Expenditure | ||||||
| Expenditure on raising funds |
9 | 156,944 | 19,424 | 176,368 | 147,915 | |
| Expenditure on charitable |
activities | 10,11 | 2,554,393 | 77,452 | 2,631,845 | 2,219,793 |
| Total expenditure | 2,711,337 | 96,876 | 2,808,213 | 2,367,708 | ||
| Net income / (expenditure) | (39,316) | 41,593 | 2,277 | (105,770) | ||
| Transfers between funds |
(21,654) | 21,654 | ||||
| Net movement in funds |
(60,970) | 63,247 | (60,970) | (105,770) | ||
| Reconciliation offunds |
||||||
| Total funds brought forward |
785,617 | 785,617 | 891,387 | |||
| Total funds carried forward | 724,647 | 63,247 | 787,894 | 785,617 |
| 31August 20 | 20 | |||||
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| Fixed assets | ||||||
| Tangible fixed assets | 17 | 4,742 | 6„194 | |||
| Current assets |
||||||
| Debtors | 18 | 382,747 | 388,333 | |||
| Cash at bank | and in hand | 461,866 | 541,584 | |||
| 844,613 | 929,917 | |||||
| Creditors: Amounts | falling due within | one year | 19 | 61,461 | 150,494 | |
| Net current | assets | 783,152 | 779,423 | |||
| Total assets | less current liabilities | 787,894 | 785,617 | |||
| Net assets | 787,894 | 785,617 | ||||
| Funds ofthe | charity | |||||
| Restricted funds | 63,247 | |||||
| Unrestricted | funds | 724,647 | 785,617 | |||
| Total charity | funds | 22 | 787,894 | 785,617 |
| Ye | ar ended 31August 20 | 20 | ||
|---|---|---|---|---|
| 2020 | 2019 | |||
| Cash flows from operating | activities | |||
| Net income / (expenditure) | 2,277 | (105,770) | ||
| Adjustments for: | ||||
| Depreciation oftangible fixed assets | 2,279 | 3,239 | ||
| Accrued expenses | 34,330 | 11,000 | ||
| Changes in: | ||||
| Trade and other debtors | 5,586 | (155,345) | ||
| Trade and other creditors | (123,363) | 46,272 | ||
| Cash consumed by operations |
(78,891) | (200,604) | ||
| Net cash from operating activities |
(78,890 | (200,604) | ||
| Cash flows from investing | activities | |||
| Purchase oftangible assets |
(827) | (539) | ||
| Net cash used in investing | activities | (827) | (539) | |
| Net (decrease)/increase in cash and cash |
equivalents | (79,718) | (201,143) | |
| Cash and cash equivalents | at beginning | ofyear | 541,584 | 742,727 |
| Cash and cash equivalents | at end ofyear | 461,866 | 541,584 |
| Donations and legacies |
|||
|---|---|---|---|
| 2020 | Unrestricted | Restricted | Total Funds |
| Funds | Funds | 2020 | |
| Donations | |||
| Trusts and foundations | 2,000 | 11,000 | 13,000 |
| Donations | 360,625 | 125,449 | 486,074 |
| Gift aid | 22,675 | 22,675 | |
| Grants | |||
| Grants | |||
| 385,300 | 136,449 | 521,749 | |
| 2019 | Unrestricted | Restricted | Total Funds |
| Funds | Funds | 2019 | |
| f. | |||
| Donations | |||
| Trusts and foundations | 32,000 | 23,000 | 55,000 |
| Donations | 171,876 | 15,402 | 187,278 |
| Gift aid | 24,654 | 24,654 | |
| Grants | |||
| Grants | 30,870 | 30,870 | |
| 228,530 | 69,272 | 297,802 |
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2020 | ||
| UK Concerts &Tours | 77,102 | 77,102 | ||
| Overseas Tours | 1„773,884 | 1,773,884 | ||
| Learning &participation | 2,020 | 2,020 | ||
| Self-Promoted | concerts (UK) | 75,125 | 75,125 | |
| Recordings | 16,403 | 16,403 | ||
| 1,942,514 | 2,020 | 1,944,534 | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2019 | ||
| UK Concerts &Tours | 114,936 | 114,936 | ||
| Overseas Tours | 1,594,596 | 1,594,596 | ||
| Learning &participation | 7,862 | 7,862 | ||
| Self-Promoted | concerts (UK) | |||
| Recordings | 49,227 | 49,227 | ||
| 1,758,759 | 7,862 | 1,766,621 |
| Other tradi | ng activities |
|||||
|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds | 2020 | Funds | 2019 | |||
| Fundraising | events | 131,554 | 131,554 | 38,502 | 38,502 | |
| Royalties and other income | 15,067 | 15,067 | 12,464 | 12,464 | ||
| 146,621 | 146,621 | 50,966 | 50,966 | |||
| Other income | ||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds | 2020 | Funds | 2019 | |||
| f, | ||||||
| Orchestral | tax relief | 143,960 | 143,960 | 146,549 | 146,549 | |
| HMRC —Job Retention | Scheme Grants | 53,626 | 53,626 | |||
| 197,586 | 197,586 | 146,549 | 146,549 |
| Unrestricted | Restricted | Total Funds | Total Funds | |||
|---|---|---|---|---|---|---|
| Funds | Funds | 2020 | ||||
| Raising funds | - direct costs | 55,939 | 55,939 | |||
| Raising funds | - support costs | 100,930 | 19,424 | 120,354 | ||
| Raising funds | - marketing | &publicity | 75 | 75 | ||
| 156,944 | 19,424 | 176,368 | ||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds | 2019 | ||||
| Raising funds - direct costs | 17,280 | 17,280 | ||||
| Raising funds - support costs | 98,736 | 29,929 | 128,665 | |||
| Raising funds - marketing | &publicity | 1,970 | 1,970 | |||
| 117,986 | 29,929 | 147,915 | ||||
| Expenditure | on charitable | activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds | 2020 | ||||
| UK concerts | and tours | 114,855 | 114,855 | |||
| Overseas concerts and tours | 1,764,435 | 1,764,435 | ||||
| Learning &participation | 6,834 | 6,834 | ||||
| Recordings and commissions |
14,512 | 46,889 | 61,401 | |||
| Self-promoted | concerts | 95,151 | 95,151 | |||
| Support costs | 510,476 | 23,729 | 534,205 | |||
| Marketing & | Publicity | 54,964 | 54,964 | |||
| 2,554,393 | 77,452 | 2,631,845 | ||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds | 2019 | ||||
| UK concerts | and tours | 119,512 | 119,512 | |||
| Overseas concerts and tours | 1,538,972 | 1,538,972 | ||||
| Learning &participation | 77„289 | 77,289 | ||||
| Recordings and commissions |
49,426 | 49,426 | ||||
| Support costs | 387,009 | 22,835 | 409,844 | |||
| Marketing & | Publicity | 24,750 | 24,750 | |||
| 2,119,669 | 100„124 | 2,219„793 |
| Expenditure | on charitable acti |
vities by activity | type | |||
|---|---|---|---|---|---|---|
| Artistic Fees | Support | Marketing & | Total funds | Total funds | ||
| costs | Publicity | 2020 | 2019 | |||
| UK concerts | and tours | 114,855 | 28,922 | 3,091 | 146,868 | 702,021 |
| Overseas concerts and tours | 1,764,435 | 444,311 | 47,477 | 2,256,223 | 1,340,992 | |
| Learning & | participation | 6,834 | 25,287 | 184 | 32,305 | 116,733 |
| Recordings | and commissions | 61,401 | 13,996 | 1,652 | 77,049 | 60,047 |
| Self-promoted concerts |
95,151 | 21,689 | 2,560 | 119,400 | ||
| 2,042,676 | 534,205 | 54,964 | 2,631,845 | 2,219,793 |
| and fundraisin | g |
events. Staffcosts are allo | cated on the basis of | time spent on | the types ofincom | ing resources. |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |||
| Funds | Funds | 2020 | 2019 | |||
| General office | 44,945 | 44,945 | 46,517 | |||
| Finance costs | 58,157 | 58,157 | (13,046) | |||
| Information | technology | 18,035 | 18,035 | 12,126 | ||
| Staffcosts | 426,254 | 43,153 | 469,407 | 444,884 | ||
| Communication | costs | 7,487 | 7,487 | 8,165 | ||
| Governance | 54,249 | 54,249 | 36,625 | |||
| Depreciation | 2,279 | 2,279 | 3,239 | |||
| Total | 611,406 | 43,153 | 654,559 | 538,510 | ||
| Governance | Costs | |||||
| Unrestricted | Restricted | Total Funds | Total Funds | |||
| Funds | Funds | 2020 | 2019 | |||
| Audit | 10,100 | 10,100 | 7,600 | |||
| Legal &professional | 21,721 | 21,721 | 900 | |||
| Staffcosts | 22,428 | 22,428 | 28,125 | |||
| 54,249 | 54,249 | 36,625 | ||||
| Net expenditure | ||||||
| Net expenditure | is stated after charging/(crediting): | |||||
| 2020 | 2019 | |||||
| K | ||||||
| Depreciation | of | tangible fixed assets | 2,279 | 3,239 |
| 2020 | 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Fees | payable | for | the | audit | ofthe | financial | statements | 11,000 | 11,000 |
| Staff costs | |||
|---|---|---|---|
| The total staff costs and | employee benefits for the reporting period are analysed | as follows: | |
| 2020 | 2019 | ||
| Wages and salaries | 376,723 | 361,733 | |
| Social security costs | 38,332 | 34,478 | |
| Employer contributions |
topension plans | 9,623 | 7„683 |
| 424,678 | 403,894 |
| The average | The average | head count of | head count of | employees | during | the | year was 9 (2019:10).The average | number offull-time | number offull-time |
|---|---|---|---|---|---|---|---|---|---|
| equivalent | employees | during | the year is analysed | as follows: | |||||
| 2020 | 2019 | ||||||||
| No. | No. | ||||||||
| Fundraising | 2 | 2 | |||||||
| Governance | 1 | 1 | |||||||
| Charitable | activities | 6 | 7 | ||||||
| 9 | 10 |
| The num | ber ofemployees whose remuneration for th |
e year fell within the following bands, was: |
|
|---|---|---|---|
| 2020 | 2019 | ||
| No. | No. | ||
| 670,000 | tof79,999 | 1 | 1 |
| Orchestral & | ||||||
|---|---|---|---|---|---|---|
| Once | Computer | Theatrical | ||||
| equipment | equipment | equipment | Total | |||
| f. | ||||||
| Cost | ||||||
| At 1 September 2019 | 9,137 | 42,060 | 3,636 | 54,833 | ||
| Additions | 827 | 827 | ||||
| At 31August | 2020 | 9,137 | 42,887 | 3,636 | 55,660 | |
| Depreciation | ||||||
| At 1 September 2019 | 7,438 | 37,565 | 3,636 | 48,639 | ||
| Charge for the year | 455 | 1,824 | 2,279 | |||
| At 31August | 2020 | 7,893 | 39,389 | 3,636 | 50,918 | |
| Carrying amount |
||||||
| At 31August | 2020 | 1,244 | 3,498 | 4,742 | ||
| At 31 August | 2019 | 1,699 | 4,495 | 6,194 | ||
| 18. | Debtors | |||||
| 2020 | 2019 | |||||
| Trade debtors | 29,997 | 55,312 | ||||
| Prepayments | and accrued income | 2,591 | 38,369 | |||
| Other debtors | 350,159 | 294,652 | ||||
| 382,747 | 388,333 | |||||
| 19. | Creditors: Amounts | falling due within one year | ||||
| 2020 | 2019 | |||||
| Trade creditors | 5,624 | 55,307 | ||||
| Accruals and | deferred | income | 44,516 | 85„391 | ||
| Social security and other taxes | 9,533 | 7,826 | ||||
| Other creditors | 1,788 | 1,970 | ||||
| 61,461 | 150,494 |
| Analysis ofc | haritable | funds | ||||
|---|---|---|---|---|---|---|
| Unrestricted | funds | |||||
| At | At | |||||
| 1 September 2019 | Income | Expenditure | Transfers 31August 2020 | |||
| General funds | 785,617 | 2,672,021 | (2,711,337) | (21,654) | 724,647 |
| At | At | ||||||
|---|---|---|---|---|---|---|---|
| 1 September 2019 | Income | Expenditure | Transfers | 31August 2020 | |||
| Learning and |
|||||||
| Participation | Fund | 28,333 | (49,987) | 21,654 | |||
| Digital Campaign | Fund | 110,136 | (46,889) | 63,247 | |||
| Total Restricted funds | 138,469 | (96,876) | 21,654 | 63,247 |
| Unrestricted | Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | 2020 | 2019 | ||
| Tangible fixed assets | 4,742 | 4,742 | 6,194 | ||
| Current assets | 766,366 | 78,247 | 844,613 | 929,917 | |
| Creditors less than | 1 year | (46,461) | (15,000) | (61,461) | (150,494) |
| Net assets | 724,647 | 63,247 | 787,894 | 785„617 |