2023-08-31-accounts

	Page
Referenceandadministrativedetails	1
Trustees'annualreport(incorporatingthedirector'sreport)	2-6
Independentauditor'sreporttothemembers	7-9
Statementoffinancialactivities(includingincomeandexpenditureaccount)	10
Statementoffinancialposition	11
Statementofcashflows	12
Notestothefinancialstatements	13-25

Pgge 9 Academy of St Martin fin the Flelds Company lamited by Cu%irantee Independomt Auditor's Rep)rt to the Manbers of A¢ademy of St Mydrtin in the Fields Ye#r ended 31 August 2023 Ive assessed the wlil>ilty of the thsrity's sthtsments to rnaterial mi55tatemenL i￿l￿din obtaining an ￿nderstandIng of how frnud miRbt occur. by: Aud1¢ wo#dur¢5 undutak¢n u) wons¢ to the ri5k5 ￿1￿ing to Arre￿I￿ltS (whi¢h include fra￿1 and nonvcomplianc¢ with18ws and reguiatioAsI whith tomyd iDquiri¥ of Manage￿￿1 8nd the Board of Tnjstees as to whether the Eharity ¢Omp￿¢S with such law5 aod regulatioTh% enquiTies wilh the same o)n¢¢rning any a¢tttsl or poteniioi litigtttion or Clar￿ ILIP￿tiOn ofrrl¢vall k￿1 rcvicw me¢ting minutes: 1¢stlnB th¢ appmwia¢¢D¢SS ofioumal entr¢es' and th< wf(KmanCeof￿l￿l(al r¢vi¢w kn id￿Ify unexpected movememts in ar￿Unt b￿anCeS which m8y be indlcativeof fra￿[. docwnentation and revitw Df the internal CODtrols over funds r¢¢¢ived and expenditure p8MI sampling and both inDJmp and expeDditure traThsactiors for accuracy alld ¢omplctuK4' rewew and audit ba5d anaty￿S of the Underlyi￿ ac¢(AwtiO8 Te￿0￿. dK¢kin8 sampling No irtsranees of materioi nonwcompliance were identifxd. However. the likelihood of de￿1￿8 iff¢8uloritl￿. Inrluding fraul is limited by the illherent diffi¢ulry in dEfe￿ing irregulwbiies. the effettiveness of the entity's ¢onuols •nd Ihc nDIuTC. timin8 exkni ofthr uudit pwEcduTE5 pErfOrn￿l. IrregutBritie5 that r¢5ul¢ from fr￿d mi81ii be inhcrtntly more diifth to dect tii4n ifTe8ularilie5 that r¢sul¢ fron) error. As explained above. there is an unawjidable risk tha¢ m4teitol rnisstytemertts may not be detetted. even 1kn￿ th¢ audit h8s been pknn¢d ond perfornied in acknwith ISAS (UK). Audlior's respo￿lbIlItIeS for tbe audttof ihe IlntialsttsthoDts Ow obje¢tiYes obtsiD rwonoble assurnnc¢ bbjtst wh¢thczthe fllwKial statements ￿ a whole ar¢ fr¢¢ froill merial mi5StatanenL wh¢ther due kn fraud or error. afMI ty i%sue ao auditor's rqjort thtst includes our opinion. Rwonable 8$Surd￿ 15 ¥ high level of assyrnth￿ 1$ not a gtsawantee that an audrt ￿nd￿ted in accordance Iviih ISAS (UK) will always defrct a mattr1￿ miss￿￿ it e￿Sts. Mt55tatements e2rt Ar￿e fmtli frawl or ¢rNJr and are ¢onswJE￿I if. individually or in ibe they wuld reJ50n4bly be expKted inflwn<¢thc CCOnDntc deci5ion5 of laken on the basisoftk5E fLn8nci81 sWavenl& A further de5criplion of our r£S￿nsIbl11[ieS for the audit of the fwrKtol 15 lorated rjn ihe Financiat RewJrtiD8 Coun¢il's websik at wwwIKor&wk14wii￿￿bIjI1￿& This description fonns part of our audilor'5 report. Mogthen Pilkny'CThelvanAy FCCA (Seniorstatstory Auditor) Forand on behalf of Wesdake L1arkAudil LLP 7 Lynwood Court iestlpllds Place Lyrnington Hampshire S0419GA Daiv. O 05 so.

		Unrestricted	Restricted	Total	Total
	Note	funds	funds	funds	funds
		2023	2023	2023	2022
		£	£	£	£
Incomeandendowments
Donationsandlegacies	5	494,604	45,717	540,321	319,398
Charitableactivities	6	2,233,496		2,233,496	1,971,127
Othertradingactivities	7	50,067		50,067	26,825
Otherincome	8	496,701		496,701	353,343
Totalincome		3,274,868	45,717	3,320,585	2,670,693
Expenditure
Expenditureonraisingfunds	9	212,930		212,930	131,113
Expenditureoncharitableactivities	10,11	2,847,116	45,717	2,892,833	2,443,415
Totalexpenditure		3,060,046	45,717	3,105,763	2,574,528
Netincome		214,822		214,822	96,165
Transferbetweenfunds
Netmovementinfunds		214,822		214,822	96,165
Reconciliationoffunds
Totalfundsbroughtforward		832,540		832,540	736,375
Totalfundscarriedforward		1,047,362		1,047,362	832,540

	Note	2023	2022
Fixedassets
Tangiblefixedassets	17	16,941	1,550
Currentassets
Debtors	18	857,675	560,934
Cashatbankandinhand		564,894	540,734
		1,422,569	1,101,668
Creditors:Amountsfallingduewithinoneyear	19	392,148	270,678
Netcurrentassets		1,030,421	830,990
Netassets		1,047,362	832,540
Fundsofthecharity:
RestrictedFund
UnrestrictedFund	21,22	1,047,362	832,540

	2023	2022
Cashflowsfromoperatingactivities
Netincome	214,822	96,165
Adjustmentsfor:
Depreciationoftangiblefixedassets	2,560	1,865
Changesin:
Tradeandotherdebtors	(296,741)	(325,707)
Tradeandothercreditors	121,470	152,902
Cashconsumedbyoperations	42,111	(74,775)
Netcashfromoperatingactivities	42,111	(74,775)
Cashflowsfrominvestingactivities
Purchaseoftangibleassets	(17,951)	(947)
Netcashusedininvestingactivities	(17,951)	(947)
Netincrease/(decrease)incashandcashequivalents	24,160	(75,722)
Cashandcashequivalentsatbeginningofyear	540,734	616,456
Cashandcashequivalentsatendofyear	564,894	540,734

	Yearended31	August2023
5.	Donationsandlegacies
		Unrestricted	Restricted	TotalFunds
	2023	funds	funds	2023
	Donations
	Trustsandfoundations	2,000	7,139	9,139
	Generaldonations	180,117		180,117
	DonationsfromAmericanfriendsoftheAcademy	292,487		292,487
	Sponsorship	20,000		20,000
	Grants
	Grants		38,578	38,578
		494,604	45,717	540,321
		Unrestricted	Restricted	TotalFunds
	2022	funds	funds	2022
	Donations
	Trustsandfoundations	2,000		2,000
	Generaldonations	165,993		165,993
	DonationsfromAmericanfriendsoftheAcademy	136,518		136,518
	Giftaid	9,000		9,000
	Grants
	Grants		5,887	5,887
		313,511	5,887	319,398

Incomefromcharitableactivities
	Unrestricted	Restricted	TotalFunds
	funds	funds	2023
	£	£	£
UKConcerts&Tours	82,014		82.104
Discretionaryreceiptsfromoverseaspromotors	2,106,047		2.106,047
Self-Promotedconcerts(UK)	28,186		28,186
Recordings	17,249		17,249
	2,233,496		2,233,496
	Unrestricted	Restricted	TotalFunds
	funds	funds	2022
	£	£	£
UKConcerts&Tours	97,535		97,535
Discretionaryreceiptsfromoverseaspromotors	1,838,238		1,838,238
Self-Promotedconcerts(UK)	24,354		24,354
Recordings	11,000		11,000
	1,971,127		1,971,127

7.	Othertradingactivities
		Unrestricted	TotalFunds	Unrestricted	TotalFunds
		funds	2023	funds	2022
		£	£	£	£
	Fundraisingevents	36,904	36,904	12,551	12,551
	Royaltiesandotherincome	13,163	13,163	14,274	14,274
		50,067	50,067	26,825	26,825

8. Otherincome
	Unrestricted	TotalFunds	Unrestricted	TotalFunds
	funds	2023	funds	2022
	£	£	£	£
Orchestraltaxrelief	496,701	496,701	353,343	353,343
	496,701	496,701	353,343	353,343
9. Expenditureonraisingfunds
		Unrestricted	Restricted	TotalFunds
		funds	funds	2023
		£	£	£
Raisingfunds-directcosts		75,940		75,940
Raisingfunds-supportcosts		136,989		136,989
		212,929		212,929
		Unrestricted	Restricted	TotalFunds
		funds	funds	2022
		£	£	£
Raisingfunds-directcosts		20,481		20,481
Raisingfunds-supportcosts		110,632		110,632
		131,113		131,113
10. Expenditureoncharitableactivities	byfundtype
		Unrestricted	Restricted	TotalFunds
		funds	funds	2023
		£	£	£
UKconcertsandtours		36,878		36,878
Overseasconcertsandtours		2,134,071		2,134,071
Learning&participation		1,366	38,578	39,944
Recordingsandcommissions		41,300		41,300
Self-promotedconcerts		71,960		71,960
Supportcosts		539,898		539,898
Marketing&Publicity		21,643	7,139	28,782
		2,847,116	45,717	2,892,833

	Unrestricted	Restricted	TotalFunds
	funds	funds	2022
	£	£	£
UKconcertsandtours	92,277		92,277
Overseasconcertsandtours	1,788,947		1,788,947
Learning&participation	4,468		4,468
Recordingsandcommissions	78,828		78,828
Self-promotedconcerts	54,139		54,139
Supportcosts	394,985	5,887	400,872
Marketing&Publicity	23,884		23,884
	2,437,528	5,887	2,443,415

	Artistic	Support	Marketing	Total	Total
	Fees	costs	&	funds	funds
			Publicity	2023	2022
	£	£	£	£	£
UKConcertsandtours	36,878	45,104	456	82,438	112,302
OverseasConcertsandtours	2,134,071	462,627	26,431	2,623,129	2,166,750
LearningandParticipation	39,944	8,387	494	48,825	5,343
RecordingsandCommissions	41,300	8,671	511	50,482	94,269
SelfPromotion	71,960	15,109	890	87,959	64,751
	2,324,153	539,898	28,782	2,892,833	2,443,415

	Unrestricted	Restricted	TotalFunds	TotalFunds
	funds	funds	2023	2022
	£		£	£
Generaloffice	73,305		73,305	30,244
Financecosts	32,623		32,623	(23,322)
Informationtechnology	8,405		8,405	14,945
Staffcosts	367,322		367,322	450,567
Communication costs	4,274		4,274	1989
GovernanceCosts(SeeBelow)	51,409		51,409	35,216
Depreciation	2,560		2,560	1,865
Total	539,898		539,898	511,504

	Unrestricted	Restricted	TotalFunds	TotalFunds
	funds	funds	2023	2022
	£		£	£
Audit	11,695		11,695	8,700
Legal&professional	2,353		2,353	6,654
Staffcosts	37,361		37,361	19,862
Total	51,409		51,409	35,216

Ne	texpenditureisstatedaftercharging/(crediting):
		2023	2022
		£	£
Depreciationoftangiblefixedasset		2,560	1,865
		2,560	1,865
14.	Auditorsremuneration
		2023	2022
		£	£
Feespayablefortheauditofthefinancialstatements		13,495	10,100
		13,495	10,100

	2023	2022
Wagesandsalaries	416,173	351,397
Socialsecuritycosts	43.040	35,635
Employercontributionstopensionplans	10,646	7,401
	469,859	394,433

	2023		2022
Fundraising		2		2
Governance		1		1
Charitableactivities		7		6
		10		9

		2023	2022
£60,000	to£70,000		1
£70,001	to£80,000		1
£80,001	to£90,000
£90,001	to£100,000	1
		1	2

17. Tangiblefixedassets
	Office	Computer	**Orchestral& **
	Equipment	Equipment	Theatrical	Total
			equipment
Cost
At1September2022	9,137	43,834	3,636	56,607
Additions		5,483	12,468	17,951
At31August2023	9,137	49,317	16,104	74,558
Depreciation
At1September2022	8,773	42,648	3,636	55,057
Chargefortheyear	364	1,339	857	2,560
At31August2022	9,137	43,987	4,493	57,617
Carryingamount
At31August2023		5,330	11,611	16,941
At31August2022	364	1,186		1,550
18. Debtors
			2023	2022
Tradedebtors			111,211	3,561
Prepaymentsandaccruedincome			80,423	139,821
Otherdebtors			666,041	417,552
			857,675	560,934
19. Creditors:Amountsfallingdue	withinoneyear
			2023	2022
Tradecreditors			83,183	14766
Accrualsanddeferredincome			245,375	242,764
Socialsecurityandothertaxes			9,212	11,526
Othercreditors			54,378	1,622
			392,148	270,678

	Unrestricted	Restricted	TotalFunds	TotalFunds
	funds	funds	2023	2022
	£	£	£	£
Tangiblefixedasset	16,941		16,941	1,550
Currentassets	1,422,569		1,422,569	1,101,668
Creditorslessthan1year	(392,148)		(392,148)	(270,678)
	1,047,362		1,047,362	832,540

	2023	2022
	£	£
Within1year	2,396	2,640
Between2and5years	2,468	5,674
	4,864	8,314