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|---|---|---|---|---|---|---|
|Trustees'|annual
report (incorporating||the director's report)||||
|Independent
auditor's||report to the members|||||
|Statement|offinancial|activities (including||income and expenditure|account)|10|
|Statement|offinancial|position|||||
|Statement|ofcash flows|||||12|
|Notes to|the financial|statements||||13|
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|REFEREN|CE and|ADMINISTRA|ADMINISTRA|TIVE DETAILS|TIVE DETAILS||
|---|---|---|---|---|---|---|
|Registered|charity|name||Academy ofSt Martin||in the Fields|
|Charity registration|||number|289294|||
|Company|registration||number|01808488|||
|Registered||||7Bell Yard|||
|Office||||London|||
|||||WC2A 2JR|||
|The trustees|||||||
|The Trustees serving||during the year||and since the|year end|were as follows:|
|MA Aymerich||||(Appointed|5 October|2021)|
|FBonds|||||||
|SBoyes||||(Appointed|5 October|2021)|
|The Rt. Hon, Lord Justice Coulson|||||||
|RDow|||||||
|EDubs||||(Retired 5 October 2021)|||
|M Fraenkel||||(Appointed|14September 2021, Chair ofthe Finance Committee)||
|S Haslam||||(Chairman)|||
|RIngleton||||(Retired 5 October 2021)|||
|A Kerr|||||||
|TLessels||||(Appointed|5 October|2021)|
|A Marriner|||||||
|A O'Carroll||||(Retired 5 October 2021)|||
|W O' Sullivan|||||||
|BOppetit|||||||
|G Powell||||(Appointed|5 October|2021)|
|W Schofield|||||||
|Company|secretary|||David Hills|||
|Auditor||||Westlake Clark Audit||LLP|
|||||7 Lynwood|Court||
|||||Priestlands|Place||
|||||Lymington|||
|||||Hampshire|||
|||||SO41 9GA|||
|Bankers||||National
Westminster||Bank pic|
|||||PO BoxNo. 305|||
|||||Spring Gardens|||
|||||Manchester|||
|||||M60 2DB|||
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|||||2021||2020|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|||
||||funds|funds|Total funds|Total funds|
|||Note||K|g||
|Income and endowments|||||||
|Donations
and legacies||5|582,176|189,449|771,625|521,749|
|Charitable
activities||6|95,565|5,215|100,780|1,944,534|
|Other trading activities||7|31,907||31,907|146,621|
|Other income||8|119,519||119,519|197,586|
|Total income|||829,167|194,664|1,023,831|2,810,490|
|Expenditure|||||||
|Expenditure
on raising funds||9|107,412|27,972|135,384|176,368|
|Expenditure
on charitable|activities|10,11|671,465|268,501|939,966|2,631,845|
|Total expenditure|||778,877|296,473|1,075,350|2,808,213|
|Net income I(expenditure)|||50 290|(101809)|(51,519)|2,277|
|Transfers
between
funds|||(38,562)|38,562|||
|Net movement
in funds|||11,728|(63,247)|(51,519)|2,277|
|Reconciliation
offunds|||||||
|Total funds brought
forward|||724,647|63,247|787,894|785,617|
|Total funds carried forward|||736,375||736,375|787,894|
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|||||2021|2020|
|---|---|---|---|---|---|
|Fixed assets||||8||
|Tangible fixed assets|||17|2,468|4,742|
|Current assets||||||
|Debtors
Cash at bank|and in hand||18|235,227
616,456|382,747
461,866|
|||||851,683|844,613|
|Creditors: Amounts||falling due within one year|19|117,776|61,461|
|Net current|assets|||733,907|783,152|
|Total assets|less current liabilities|||736,375|787,894|
|Net assets||||736,375|787,894|
|Funds ofthe|charity|||||
|Restricted funds
Unrestricted
funds||||736,375|63,247
724,647|
|Total charity|funds||22|736,375|787,894|
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||||2021|2020|
|---|---|---|---|---|
|Cash flows from operating|activities||||
|Net (expenditure)
/ income|||(51,519)|2,277|
|Adj ttstments for:|||||
|Depreciation oftangible fixed assets|||2,274|2,279|
|Accrued expenses|||28,706|34,330|
|Changes in:|||||
|Trade and other debtors|||147,520|5,586|
|Trade and other creditors|||27,609|(123,363)|
|Cash consumed
by operations|||154,590|(78,891)|
|Net cash from operating
activities|||154,590|(78,891)|
|Cash flows from investing|activities||||
|Purchase oftangible
assets||||(827)|
|Net cash used in investing
activities||||(827)|
|Net increase/(decrease)
in|cash and cash|equivalents|154,590|(79,718)|
|Cash and cash equivalents|at beginning|ofyear|461,866|541,584|
|Cash and cash equivalents|at end ofyear||616,456|461,866|
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|2021|||Unrestricted|Restricted|Total Funds|
|---|---|---|---|---|---|
||||Funds|Funds|2021|
|Donations||||||
|Trusts and|foundations||12,000|17,500|29,500|
|General donations|||147,130|67,836|214,966|
|Donations|from American|friends ofthe Academy|396,183||396,183|
|Gift aid|||26,863||26,863|
|Grants||||||
|Grants||||104,113|104,113|
||||582,176|189,449|771,625|
|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|
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|Charitable
a|ctivities||||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2021|
|UK Concerts|&Tours|18,157||18,157|
|Discretionary|receipts from overseas promotors|12,540||12,540|
|Learning
&participation|||5,215|5,215|
|Self-Promoted|concerts (UK)|39,841||39,841|
|Recordings||25,027||25,027|
|||95,565|5,215|100,780|
|||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|
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||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|---|
||||Funds|2021|Funds|2020|
|||||g|||
|Fundraising|events||19,840|19,840|131,554|131,554|
|Royalties and other income|||12,067|12,067|15,067|15,067|
||||31,907|31,907|50,966|146,621|
|Other income|||||||
||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||Funds|2021|Funds|2020|
||||6||||
|Orchestral|tax relief||63,774|63,774|143,960|143,960|
|HMRC —Job Retention||Scheme Grants|55,745|55,745|53,626|53,626|
||||119,519|119,519|197,586|197,586|
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|||||Unrestricted|Restricted|Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds||2021|
||||||||8|
|Raising funds|—direct costs|||21,455|||21,455|
|Raising funds|—support costs|||85,957|27,972||113,929|
|Raising funds|- marketing|&publicity||||||
|||||107,412|27,972||135,384|
|||||Unrestricted|Restricted||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|
|||||154,944|19,424||176,368|
|Expenditure
on charitable|||activities by fund type|||||
|||||Unrestricted|Restricted||Total Funds|
|||||Funds|Funds||2021|
|UK concerts and tours||||22,383|||22,383|
|Cancelled overseas concerts|||and tours|1,434|||1,434|
|Learning &participation|||||8,820||8,820|
|Recordings
and commissions||||67,870|163,492||231,362|
|Self-promoted|concerts|||159,032|86,704||245,736|
|Support costs||||398,379|9,485||407,864|
|Marketing &Publicity||||22,367|||22,367|
|||||671,465|268,501||939,966|
|||||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|
|Supportcosts||||510,476|23,729||534,205|
|Marketing &Publicity||||54,964|||54,964|
|||||2,554,393|77,452||2,631,845|
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|Expenditu|re
on charitable
act|ivities by activity|type||||
|---|---|---|---|---|---|---|
|||Artistic Fees|Support|Marketing &|Total funds|Total funds|
||||costs|Publicity|2021|2020|
|||||||6|
|UK concerts and tours||22,383|64,343|984|87,710|146,868|
|Cancelled|overseas concerts|1,434|||1,434|2,256,223|
|Learning|&participation|8,820|15,549|388|24,757|32,305|
|Recordings
and commissions||231,362|159,046|10,181|400,589|77,049|
|Self-promoted
concerts||245,736|168,927|10,813|425,476|119,400|
|||509,735|407,865|22,366|939,966|2,631,845|
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||||Unrestricted|Restricted|Total Funds|Total Funds|
|---|---|---|---|---|---|---|
||||Funds|Funds|2021|2020|
||||||g||
|General office|||22,305||22,305|44,945|
|Finance costs|||5,130||5,130|58,157|
|Information|technology||9,558||9,558|18,035|
|Staff costs|||391,995|37,457|429,452|469,407|
|Communication||costs|2,642||2,642|7,487|
|Governance|||50,433||50,433|54,249|
|Depreciation|||2,274||2,274|2,279|
|Total|||484,337|37,457|521,794|654,559|
|||Unrestricted|Restricted|Total Funds|Total Funds|
|---|---|---|---|---|---|
|||Funds|Funds|2021|2020|
|||g||g||
|Audit||10,250||10,250|10,100|
|Legal|&professional|15,705||15,705|21,721|
|Staff|costs|24,478||24,478|22,428|
|||50,433||50,433|54,249|
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||||2021|2020|
|---|---|---|---|---|
||Depreciation oftangible fixed assets||2,274|2,279|
|14.|Auditors
remuneration||||
||||2021|2020|
||Fees payable for the audit ofthe financial|statements|11,000|11,000|
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||||2021|2020|
|---|---|---|---|---|
|Wages and|salaries||350,339|376,723|
|Social security costs|||36,995|38,332|
|Employer|contributions|to pension plans|9,051|9,623|
||||396,385|424,678|
|The averag
equivalent|e
head count of employees
during
the y
employees
during
the year is analysed
as|ear was 9 (2020: 9).The average
number
follows:|of full-tim|e|
|---|---|---|---|---|
|||2021|2020||
|||No.|No.||
|Fundraising||2||2|
|Governance||1||1|
|Charitable|activities|6||6|
|||9||9|
|The num|ber|ofemployees
whose remuneration
for t|he year fell within the following
bands, was|:||
|---|---|---|---|---|---|
||||2021|2020||
||||No.|No.||
|f70,000|to|f79,999|||I|
|f80,000|to|689,000||||
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|17.|Tangible fixe|d|assets|||||
|---|---|---|---|---|---|---|---|
|||||||Orchestral &||
|||||Office|Computer|Theatrical||
|||||equipment|equipment|equipment|Total|
||Cost|||||||
||At 1 September 2020|||9,137|42,887|3,636|55,660|
||Additions|||||||
||At 31August||2021|9,137|42,887|3,636|55,660|
||Depreciation|||||||
||At 1 September 2020|||7,893|39,389|3,636|50,918|
||Charge for the||year|449|1,825||2,274|
||At 31August||2021|8,342|41,214|3,636|53,192|
||Carrying
amount|||||||
||At 31August||2021|795|1,673||2,468|
||At 31 August|2020||1,244|3,498||4,742|
|18.|Debtors|||||||
|||||||2021|2020|
||Trade debtors|||||26,148|29,997|
||Prepayments|and accrued income||||99,265|2,591|
||Other debtors|||||109,814|350,159|
|||||||235,227|382,747|
|19.|Creditors: Amounts|||falling due within one year||||
|||||||2021|2020|
||Trade creditors|||||43,163|5,624|
||Accruals and|deferred||income||55,128|44,516|
||Social security||and other taxes|||11,952|9,533|
||Other creditors|||||7,533|1,788|
|||||||117,776|61,461|
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|Analysis ofc|Analysis ofc|haritable|fu|nds|||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted||funds|||||||
|||||At||||At|
||||I|September 2020|Income|Expenditure|Transfers 31August 2021||
|||||||||6|
|General|funds|||724,647|829,167|(778,877)|(38,562)|736,375|
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||||At||||At|
|---|---|---|---|---|---|---|---|
||||I September 2020|Income|Expenditure|Transfers|31August 2021|
|Learning
and||||||||
|Participation|Fund|||7,715|(9,244)|1,529||
|Digital Campaign||Fund|63,247|38,395|(109,247)|7,605||
|Arts Council|England|||||||
|Grant
—Culture Recovery||||||||
|Fund 2||||104,113|(124,737)|20,624||
|Concert Specific||||||||
|Donations||||44,441|(53,245)|8,804||
|Total Restricted||funds|63,247|194,664|(296,473)|38,562||
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||Unrestricted|Restricted|Total Funds|Total Funds|
|---|---|---|---|---|
||Funds|Funds|2021|2020|
|Tangible fixed assets|2,468||2,468|4,742|
|Current assets|851,683||851,683|844,613|
|Creditors less than I year|(117,776)||(117,776)|(61,461)|
|Net assets|736,375||736,375|787,894|
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|The tot|al|future minimum
lease payments
under non-c|ancellable
operating
leases are as follows:||
|---|---|---|---|---|
||||2021|2020|
|Within|I|year|2,640|4,460|
|Between||2 and 5years|7,543|6,611|
||||10,183|11,071|
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