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|||||||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|
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|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|
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|||||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|
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||||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|
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||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|
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|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|
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|||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|
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|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|
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||||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|
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|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|
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|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|
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|||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|---|
|Fees|payable|for|the|audit|ofthe|financial|statements|11,000|11,000|
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|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|
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||||||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|
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|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|
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|---|---|---|---|---|---|---|---|
||||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|
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