DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
**Company Registration Number – CE026393 Charity Registration Number – 290833**
## **The London Mozart Players Trust CIO**
**Report and Accounts**
**For the Year Ended**
**30 June 2022**
DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
## **THE LONDON MOZART PLAYERS TRUST CIO**
## **REPORT and Accounts**
## **For the Year Ended 30 June 2022**
|**Contents**|**Page**|
|---|---|
|Charity information|2|
|Chairman's Report and Review of the Year|3-4|
|Trustees' Annual Report and Charity Information|5-7|
|Independent Examiner's Report|8|
|Funds Statements:-||
|Statement of Financial Activities|9|
|Statement of Financial Activities - Prior Year statement|10|
|Balance sheet|11|
|Notes to the accounts|12-20|
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
**THE LONDON MOZART PLAYERS TRUST CIO (Limited by Guarantee)**
## **REFERENCE and ADMINISTRATION INFORMATION**
|**Registered Name:**|The London Mozart Players Trust CIO|
|---|---|
|**Charity Registration no.:**|290833|
|**Company Registration no.:**|CE026393|
|**Trustees**|Sir Robert Lechler - Chairman|
||The Right Hon. Emily Benn|
||Jonathan Feroze|
||Roanna Gibson|
||David Lamberti|
||Roy Simpson|
||Lady Lydia Thompson|
|**Secretary**|Dr. Benjamin Thomas|
|**Patron**|HRH The Earl of Wessex KG GCVO|
|**Accountants**|Chiene + Tait LLP|
||Chartered Accountants & Independent Examiner|
||61 Dublin Street|
||Edinburgh|
||EH3 6NL|
|**Bankers**|Metro Bank|
||83-87 High Street|
||Sutton|
||Surrey|
||SM1 1JF|
|**Solicitors**|Simmons & Simmons|
||City Point|
||One Ropemaker Street|
||London|
||EC2Y 9SS|
|**Registered address**|Fairfield Halls|
||Park Lane|
||Croydon|
||London|
||CR9 1DG|
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
## **THE LONDON MOZART PLAYERS TRUST CIO (Limited by Guarantee)**
## **CHAIRMAN'S REPORT AND REVIEW OF THE PERIOD**
I would like to start by paying tribute to the imagination and resourcefulness of so many within the London Mozart Players family in continuing to make music and entertain us in many novel ways. As we emerged from the constraints of the pandemic, Flynn Le Brocq took over as the new Chief Executive. Flynn has done a great job in getting the organisation onto a more stable footing, moving the offices into Fairfield Halls, revamping the staff team, and bringing creative energy and drive to the enterprise.
It is as a direct result of the creative energy shown across the organisation, that LMP was able to regain so much of the momentum that was inevitably lost during the pandemic, successfully delivering around 170 days’ of concerts and engagements – work which is vital to the orchestra’s musicians who rely so heavily on this work to sustain their livelihoods. Of the activities which took place, we delivered:
- 18 concerts specifically designed for young children, in venues such as libraries in areas such as Uckfield, Great Yarmouth and Hastings – a key part of our efforts to continue providing early years music provision in areas of significant cultural deprivation;
- 31 school and youth music education activities, continuing partnerships with organisations such as Thaxted Festival and Orchestras Live, who share our commitments to widening access to participating in music education;
- 4 of our Podium leadership events, an innovative commercial offering which continues to prove valuable to building our relationships with corporates;
- 3 brand new concert formats, including a Tango-based event and a collaboration with a London restaurant;
- 2 cross-genre projects, one working with Indian musicians and another working with a local Afrobeats artist based in Croydon;
These, in addition to the 100+ engagements at festivals, recordings and other events delivered during this time mean that LMP has been able to successfully continue its mission of reaching and inspiring as many people as possible with its music, with thousands of children, adults and young people enjoying the work of this marvellous organisation.
We are especially proud to have been able to continue our 30-year legacy of education work through our own Spotlight series, which saw a number of young musicians including Sheku and Isata Kanneh-Mason, Jess Gillam and our first ever Young-Artist-in-Residence Leia Zhu, working with us to deliver workshops and seminars to young people across London and the South East. The lifelong impact of these types of experiences for budding young musicians simply cannot be underestimated, with one young person who attended a workshop with Sheku commenting:
**“The memory of seeing another Black kid walk with a cello genuinely stayed with me. So now having that same person, another Black person, in a role in a career that I aspire to have…it’s really, really inspirational.”**
Of course, so much of this impact could not have been achieved without the generosity of the many private donors who have supported LMP over the year, to whom the Trust is incredibly grateful. Their generous and ongoing support has been immensely important in enabling the Trust to fulfil its objectives of furthering the public knowledge and appreciation of music, through the grants it makes to support the LMP. In particular, I would like to recognise with gratitude legacies received during the year from the estates of the late Geoffrey Shaw and Elizabeth Penfold.
We organised a wonderful evening in Buckingham Palace, hosted by our royal patron, Prince Edward. The concert was outstanding as was the hospitality. We are on the brink of this years equivalent event which will be held in Windsor Castle in mid April.
We continue to be grateful to the friends of the LMP, ably organised by honorary chairman, Christine Robson, who have continued to provide support for the orchestra and to attend its concerts and coffee mornings with unfailing loyalty.
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
## **THE LONDON MOZART PLAYERS TRUST CIO (Limited by Guarantee)**
## **CHAIRMAN'S REPORT AND REVIEW OF THE PERIOD**
I would like also to pay credit once again to the orchestra itself, and in particular to members of the management team of London Mozart Players Orchestra Limited who are also members of the orchestra, under the outstanding leadership of Neville Osrin. Without their dedication and energy, not to mention the hours they spend on the LMP’s affairs on an almost entirely voluntary basis, the work of the Trust and the orchestra would not be possible.
The Board of Trustees is being refreshed with one or two new members. Jonathan Feroze joined us a year ago, and played a central role in organising and compering our second “Tasting Notes” event in St. Johns Smith Square. Combining wine tasting and music proved to be a great success, and something that we will undoubtedly be repeating.
Looking ahead, we are shaping an exciting strategy to enhance the position of LMP as one of the UK’s premier chamber orchestras. This year sees Croydon celebrated as London’s Borough of culture, and the LMP is playing at the concert that launches the year’s programme of events. This will further enhance LMP’s commitment to outreach to young people to introduce them to the delights of classical music.
**Sir Robert Lechler Chairman**
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
**THE LONDON MOZART PLAYERS TRUST CIO (Limited by Guarantee)**
## **TRUSTEE’S ANNUAL REPORT**
## **For the year ended 30 June 2022**
The Trustees present their Report and Accounts for the year ended 30 June 2022.
## **OBJECTS AND ACTIVITIES**
## **Purposes**
The Trust's objectives are to promote the performance and study of the works of Joseph Haydn and Wolfgang Amadeus Mozart and of other composers, in order to foster public knowledge and appreciation of music.
The LMP was founded in 1949 by Harry Blech under the auspices of Haydn-Mozart Society (which company name the Trust retained until 2006). The LMP is regarded as one of the finest chamber orchestras in Europe and one of the most versatile and adventurous in its programming and its reach into the community. In supporting the LMP, the Trust meets one of the objectives of Harry Blech in creating access to music in parts of the UK that do not have easy access to orchestral performances.
The LMP is operated by London Mozart Players Orchestra Limited ("LMPO"), a company limited by guarantee established and managed by players from the LMP. The Trust makes grants to LMPO to support the LMP's activities in furtherance of the Trust's charitable objectives.
## **Main activities**
During the year under review that Trust has sought to fulfil those objectives by fundraising and making grants to support performance of orchestral and chamber works by Mozart, Haydn, and many other classical romantic and modern composers by the orchestra known as the London Mozart Players. In addition the Trust has supported programmes in the community undertaken by the LMP, including schools’ concerts, workshops, and events for older people. Thereby the Trust has fostered public knowledge and appreciation of music and created access to music for young and old, particularly for those whose ability to attend performances is limited physically or geographically.
## **Public benefit**
When reviewing the Trust’s objectives and activities the board of trustees has had regard to the charity commission's guidance on public benefit. The Trust’s objectives and the activities supported by the Trust have been directed at the public at large: those who attended the LMP’s concerts around the UK; visitors to the LMP’s website; those who have listened to the LMP’s recordings; and those who took part in its educational and community activities.
The Trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
## **Grant making policies**
The Trust's grants are paid on a restricted basis, and the Trust has formal agreements with LMPO in place reflecting this. The Board of the Trust works closely with the management of LMPO to oversee LMPO's plans and to ensure work supported by grants from the Trust is in accordance with the Trust's charitable objects and for the public benefit.
## **MAIN ACHIEVEMENTS AND PERFORMANCE**
See the Chairman's Report for achievements and performance of the Trust.
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
**THE LONDON MOZART PLAYERS TRUST CIO (Limited by Guarantee)**
## **TRUSTEE’S ANNUAL REPORT (continued)**
## **For the year ended 30 June 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of trustees**
The London Mozart Players Trust (the “Trust”) was converted from a charitable company limited by guarantee and registered as a charitable incorporated organisation (CIO) on 11 June 2021, number 290833.
The Trustees meet at least quarterly. Appointments to the Board are made by agreement of, and invitation by, existing members.
## **Remuneration policy**
The trustees consider the board of trustees as the key management personnel of the charity as they are in charge of directing, controlling and operating the charity on a day to day basis.
No trustee received any remuneration or expenses during the current or prior year.
## **Related parties**
Although in company law the two companies are not related parties, there is a close working relationship between the Trust and London Mozart Players Orchestra Limited which runs the orchestra known as The London Mozart Players and this close relationship is expected to continue.
## **Financial position**
The financial position of the Trust at 30 June 2022 and comparatives for the prior year, as more fully detailed in the accounts, is summarised as follows: -
||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|**Net income/(loss)**|(119,117)|(134,915)|
|Unrestricted Revenue Funds|43,622|62,739|
|Designated Funds|220,000|320,000|
|Restricted Funds|-|-|
||--------------|-------------|
|**Total Funds**|263,622|382,739|
||========|=======|
Income this year was £380,132 (2021: £376,066) comprising private donations and income from Friends of the LMP totalling £161,423 (2021: £129,198) together with legacy income totalling £98,000 (2021: £110,000), grants received from public bodies of £41,474 (2021: £98,670), grants received from non-public bodies of £55,260 (2021: £24,796), other income of £23,975 (2021: £13,926) and bank interest totalling £nil (2021: £16).
Expenditure of £499,249 comprised grants to LMPO of £492,155 together with associated support costs of £7,094 (further analysed at notes 19 and 20) which included the fee of £1,800 for the independent examination of the accounts.
Overall the Trust saw a deficit for the year of £119,117.
## **Reserves policies**
The Trust's grants are paid on a restricted basis, and the Trust has formal agreements with LMPO in place reflecting this.
The Trust retains sufficient reserves to cover its ongoing operational costs and to make grants to LMPO as required.
The board of trustees is satisfied that the Trust's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
**THE LONDON MOZART PLAYERS TRUST CIO (Limited by Guarantee)**
## **TRUSTEE’S ANNUAL REPORT (continued)**
## **For the year ended 30 June 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)**
## **Risks and future assumptions**
The only activity carried out by the Trust is the disbursement of funds in the furtherance of its charitable objectives. The Trust's ongoing running costs and financial commitments are minimal and so therefore are the risks to its continued existence.
The Trust's grants are paid on a restricted basis, and the Trust has formal agreements with LMPO in place reflecting this. The Board of the Trust works closely with the management of LMPO to oversee LMPO's plans and to ensure work supported by grants from the Trust is in accordance with the Trust's charitable objects and for the public benefit.
As part of the monitoring process the Trustees have implemented a risk management strategy. The Trustees consider the major risks to the company to be increased competition for support from sponsors, Trusts and foundations, and individual givers.
These risks have been reviewed and procedures have been established to manage them including maintaining regular contact with current and potential supporters.
## **Statement of the Trustees’ Responsibilities**
Law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principals in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
• state whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no material inconsistencies with the figures disclosed in the accounts.
This report was approved by the Trustees on 2023 and signed by:
30 March 2023
**Sir Robert Lechler Trustee and Chairman**
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
## **THE LONDON MOZART PLAYERS TRUST CIO (Limited by Guarantee)**
## **Report of the Independent Examiner to the Trustees of the Charitable Incorporated Organisation**
## **On the accounts for the year ended 30 June 2022**
I report to the Trustees on my examination of the accounts of the charitable incorporated organisation on pages 8 to 19 for the year ended 30 June 2022.
## **Responsibilities and basis of report**
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
Having satisfied myself that the accounts are not required to be audited and are eligible for independent examination, I report in respect of my examination of your accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1 accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2 the accounts do not accord with those records; or 3 the accounts do not comply with the accounting requirements of the 2011 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**Jeremy Chittleburgh BSc CA Independent Examiner Chartered Accountants and Independent Examiners**
61 Dublin Street Edinburgh EH3 6NL
## 31 March 2023
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
## **THE LONDON MOZART PLAYERS TRUST CIO**
## **(Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **For the year ended 30 June 2022**
|Income and Endowments
from:
Donations and legacies
15
Investments
16
Other
17
**Total Income**
Expenditure on:
Charitable Activities
18
Net expenditure before
transfers
Transfer of funds
Net (expenditure)/income
and net movement in
funds for the year
Total funds brought
forward
Total funds carried
forward|**2022**
**Unrestricted**
**Funds**
**£**
356,157
-
23,975
380,132
499,249
499,249
(119,117)
100,000
(19,117)
62,739
43,622|**2022**
**Designated**
**Funds**
**£**
-
-
-
-
-
-
-
(100,000)
(100,000)
320,000
220,000|**2022**
**Restricted**
**Funds**
**£**
-
-
-|**2022**
**Total**
**Funds**
**£**
356,157
-
23,975
380,132
499,249
373,038
(119,117)
-
(119,117)
382,739
263,622|**2021**
**Total**
**Funds**
**£**
362,664
16
13,926|
|---|---|---|---|---|---|
||||-||376,606|
||||-
-
-
-
-
-
-||511,521|
||||||511,521|
||||||(134,915)
-|
||||||(134,915)
517,654|
||||||382,739|
All activities derive from continuing operations
The notes attached on pages 12 to 20 form an integral part of these accounts.
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
## **THE LONDON MOZART PLAYERS TRUST CIO**
**(Limited by Guarantee)**
## **For the year ended 30 June 2022**
## **ANALYSIS OF PRIOR YEAR FUNDS**
|Income and Endowments
from:
Donations and legacies
17
Investments
18
Other
19
**Total Income**
Expenditure on:
Charitable Activities
20
Net expenditure before
losses and gains on
investments
Transfer of funds
Net (expenditure)/income
and net movement in
funds for the year
Total funds brought
forward
Total funds carried
forward|**2021**
**Unrestricted**
**Funds**
**£**
362,664
16
13,926
376,606
406,521
406,521
(29,915)
(315,699)
(345,614)
408,353
62,739|**2021**
**Designated**
**Funds**
**£**
-
-
-
105,000
105,000
-
425,000
320,000
-
320,000|**2021**
**Restricted**
**Funds**
**£**
-
-|**2021**
**Total**
**Funds**
**£**
362,664
16
13,926|
|---|---|---|---|---|
||||-|376,606|
||||-
-
-
(109,301)
-
-
-|511,521|
|||||511,521|
|||||(134,915)
-|
|||||(134,915)
517,654|
|||||382,739|
All activities derive from continuing operations.
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
## **THE LONDON MOZART PLAYERS TRUST CIO**
## **(Limited by Guarantee)**
## **BALANCE SHEET**
## **At 30 June 2022**
||**Notes**||**2022**||**2021**||
|---|---|---|---|---|---|---|
||||**£**|**£**|**£**|**£**|
|**Fixed assets**|||||||
|Tangible assets|8||7,014||10,380||
|**Current assets**|||||||
|Debtors|9|16,408||7,155|||
|Cash at bank and in hand||287,052||395,247|||
|||--------------||--------------|||
|**Total current assets**||303,460||402,402|||
|**Creditors**: amounts falling due within|||||||
|one year|10|(46,852)||(30,043)|||
|||--------------||--------------|||
|**Net current assets**|||256,608||372,359||
||||--------------||--------------||
|**Total net assets**|||263,622||382,739||
||||========||========||
|**Being:**|||||||
|**Unrestricted Funds**|||||||
|Unrestricted Revenue Funds|15||43,622||62,739||
|Designated Funds|15||220,000||320,000||
||||--------------||--------------||
|Total charity funds|||263,622||382,739||
||||========||========||
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 10.
Approved by the board of trustees on 2023 and signed on their behalf by: 30 March 2023
## **Roy Simpson Trustee**
The notes attached on pages 12 to 20 form an integral part of these accounts.
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
## **THE LONDON MOZART PLAYERS TRUST CIO (Limited by Guarantee)**
## **NOTES TO THE ACCOUNTS**
## **For the Year Ended 30 June 2022**
## **1. Accounting policies**
## **Basis of preparation and accounting convention**
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) and in accordance with all applicable law in the charity's jurisdiction of registration. The Trust meets the definition of a public benefit entity under FRS 102.
## **CIO information**
The London Mozart Players Trust changed in status to a charitable incorporated organisation on 11 June 2021 and is registered with the Charity Commission under charity number 290833.
## **Going concern**
The financial statements have been prepared on a going concern basis. The Trustees have assessed the Trust’s financial position, with a focus on liquid assets, and having reviewed this against the costs of our operational activity, are confident that the Trust has adequate resources to continue operating for the foreseeable future and certainly the next reporting period.
## **Nature of income**
Gross income represents grants from public bodies and charitable organisations, donations from individuals and organisations, and legacies.
## **Categories of Income**
Income is categorised as income from exchange transactions (contract income) and income from nonexchange transactions (gifts), investment income and other income.
## **Income recognition**
Income is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met. All income is accounted for gross, before deducting any related fees or costs.
## **Accounting for deferred income and income received in advance**
Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.
Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.
When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.
Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned, and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
**THE LONDON MOZART PLAYERS TRUST CIO (Limited by Guarantee)**
## **NOTES TO THE ACCOUNTS (continued)**
## **For the Year Ended 30 June 2022**
## **1. Accounting policies (continued)**
## **Income from legacies**
Income from legacies is recognised when the charity has sufficient evidence that a gift has been left to them, that where required, probate has been granted, the executor is satisfied that the property in question will not be required to satisfy claims in the estate, that it is probable that the amount will be received by the charity, and the amount to be received can be estimated with sufficient accuracy, and that any conditions attached to the legacy are either within the control of the charity or have been met.
Where a payment is received from an estate or is notified as receivable by the executors after the reporting date and before the accounts are authorised for issue but it is clear that the payment had been agreed by the executors prior to the end of the reporting period, then the amount concerned is treated as an adjusting event and accrued as income in the accounting period if receipt is probable.
Where the charity has established entitlement to a legacy but there is uncertainty as to the amount of the payment, details of the legacy are disclosed as a contingent asset until the criteria for income recognition are met. Where a legacy is subject to the interest of a life tenant, the legacy is not recognised as income until the death of the life tenant.
If it is doubtful that full settlement of a legacy debtor will be received, then an adjustment is made to reduce the amount of the legacy debtor and legacy income rather than charging the adjustment as expenditure in the Statement of Financial Activities.
## **Membership subscriptions**
The income and any associated Gift Aid or other tax refund from a membership subscription received by the charity in the nature of a gift, is accounted for on the same basis as a donation.
The income from a membership subscription received by the charity where the subscription purchases the right to services or benefits is recognised as income from charitable activities.
## **Recognition of liabilities and expenditure**
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the year, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
## **Volunteers**
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note 6.
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
**THE LONDON MOZART PLAYERS TRUST CIO (Limited by Guarantee)**
## **NOTES TO THE ACCOUNTS (continued)**
## **For the Year Ended 30 June 2022**
## **1. Accounting policies (continued)**
## **Tangible fixed assets**
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition. Items of equipment are capitalised where the purchase price exceeds £500.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Music Library - Until 30th July 2024
## **Debtors**
Debtors are measured at their recoverable amounts at the balance sheet date.
## **Financial instruments**
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
The Trust has financial assets and financial liabilities only of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **Leasing and hire purchase contracts and commitments**
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the charity, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted funds that have been designated for particular purposes by the Trustees.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law.
## **2. Liability to taxation**
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. The charity is registered for VAT.
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
**THE LONDON MOZART PLAYERS TRUST CIO (Limited by Guarantee)**
## **NOTES TO THE ACCOUNTS (continued)**
## **For the Year Ended 30 June 2022**
## **3. Winding up or dissolution**
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
## **4. Significance of financial instruments**
There are no significant implications of the use of financial instruments to the charity's position.
**----- Start of picture text -----**
|||||
|---|---|---|---|
|5.|Net surplus in the financial period|2022|2021|
|£|£|
|The net deficit in the financial period is stated after charging: -|
|Depreciation of owned fixed assets|3,366|3,366|
|======== ========|
**----- End of picture text -----**
## **6. The contribution of volunteers**
The charity depends on the support of its volunteers, which is much appreciated. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.
## **7. Remuneration and payments to Trustees and persons connected with them**
No trustees, who are also the key management personnel, or persons connected with them received any remuneration from the charity, or any related entity.
**----- Start of picture text -----**
||||
|---|---|---|
|Music|
|8.|Tangible fixed assets|Library|
|£|
|Cost|
|At 30 June 2021|44,299|
|Disposals|-|
|--------------|
|At 30 June 2022|44,299|
|--------------|
|Depreciation|
|At 30 June 2021|33,919|
|Charge for the year|
|On disposals|3,366|
|--------------|
|At 30 June 2022|37,285|
|--------------|
|Net book value|
|At 30 June 2022|7,014|
|========|
|At 30 June 2021|10,380|
|========|
**----- End of picture text -----**
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
## **THE LONDON MOZART PLAYERS TRUST CIO**
**(Limited by Guarantee)**
## **NOTES TO THE ACCOUNTS (continued)**
## **For the Year Ended 30 June 2022**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|9.|Debtors|2022|2021|
|£|£|
|Trade Debtors|900|900|
|Amounts owed by London Mozart Players Orchestra Limited|-|-|
|Accrued income|15,508|6,255|
|-------------- --------------|
|16,408|7,155|
|======== ========|
|10.|Creditors: amounts falling due within one-year|2022|2021|
|£|£|
|Accruals|18|11,102|
|VAT|1,437|216|
|Amounts owed by London Mozart Players Orchestra Limited|-|18,725|
|Deferred income|45,397|-|
|-------------- --------------|
|46,852|30,043|
|======== ========|
**----- End of picture text -----**
## **11. Related party transactions**
Although under company law the two companies are not related parties, there is a close working relationship between the company and London Mozart Players Orchestra Limited which runs the orchestra known as The London Mozart Players.
During the period, in the furtherance of its charitable objects, the company made grants to London Mozart Players Orchestra Limited totalling £492,155 (2021: £504,345) and made various loans to that company. The amount outstanding from London Mozart Players Orchestra Limited at the year-end was £nil (2021: £nil). An amount of £nil (2021: £18,725) was due to London Mozart Players Orchestra Limited.
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
**(Limited by Guarantee)**
## **THE LONDON MOZART PLAYERS TRUST CIO**
## **NOTES TO THE ACCOUNTS (continued)**
## **For the Year Ended 30 June 2022**
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|Unrestricted Designated|Total|
|12.|Funds analysis|Funds|Funds|Funds|
|£|£|£|
|At 30 June 2022|
|Tangible Fixed Assets|7,014|-|7,014|
|Current Assets|83,460|220,000|303,460|
|Current Liabilities|(46,852)|-|(46,852)|
|-------------- -------------- --------------|
|43,622|220,000|263,622|
|======== ======== ========|
|At 30 June 2021|
|Tangible Fixed Assets|10,380|-|10,380|
|Current Assets|82,402|320,000|402,402|
|Current Liabilities|(30,043)|-|(30,043)|
|-------------- -------------- --------------|
|62,739|320,000|382,739|
|======== ======== ========|
|Funds Movement|Transfers|Funds|
|Brought|in|Between|Carried|
|Forward|Funds|Funds|Forward|
|13.|Change in total funds over the year|from 2021|in 2022|in 2022|to 2022|
|£|£|£|£|
|Unrestricted Revenue Funds|62,739|(119,117)|100,000|435,777|
|Designated Funds|320,000|-|(100,000)|220,000|
|Restricted Funds|-|-|-|
|-------------- -------------- -------------- --------------|
|Total funds|382,739|(119,117)|-|263,622|
|======== ======== ======== ========|
**----- End of picture text -----**
## **14. Fund purposes**
## **Unrestricted Revenue Funds**
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and, subject to charity legislation, are free from all restrictions on their use.
## **Designated Funds**
These funds have been designated by the Trustees for particular purposes, including investment in the Spectrix ticketing system, guest artistic directors, development of digital content, staffing and maintaining a central London presence.
## **Restricted funds**
STAND - Funding received towards Stand, the Anthem project. The Trustees have reviewed these funds in the year and noted that these had been fully utilised. Therefore a transfer has been made to unrestricted funds.
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DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
**(Limited by Guarantee)**
## **THE LONDON MOZART PLAYERS TRUST CIO**
## **NOTES TO THE ACCOUNTS (continued)**
## **For the Year Ended 30 June 2022**
## **15. Detailed analysis of income and expenditure**
**----- Start of picture text -----**
||||||
|---|---|---|---|---|
|Unrestricted Restricted|Total|Total|
|Funds|Funds|Funds|Funds|
|Donations and Legacies|2022|2022|2022|2021|
|£|£|£|£|
|Individuals|
|Small donations individually less than £1,000|31,830|-|31,830|45,576|
|Patrons|-|-|-|-|
|Donors|83,090|-|83,090|71,502|
|Gift Aid|16,603|-|16,603|10,119|
|-------------- -------------- -------------- --------------|
|131,523|-|131,523|127,197|
|-------------- -------------- -------------- --------------|
|Legacies|
|Other:|
|G Penfold|2,000|-|2,000|110,000|
|G Shaw|96,000|-|96,000|-|
|-------------- -------------- -------------- --------------|
|98,000|-|98,000|110,000|
|-------------- -------------- -------------- --------------|
|Government and public bodies|
|Arts Council England (ACE):|
|ACE Lottery grant - Croydon Voices Remixed|-|-|-|14,950|
|ACE Culture Recovery - Building Back Better|-|-|-|69,645|
|ACE CRF Continuity Support|35,030|-|35,030|-|
|ACE Community Engagement Programme|6,444|-|6,444|-|
|Croydon Council – Covid Recovery grant|-|-|-|4,000|
|National Lottery Community fund|-|-|-|9,775|
|-------------- -------------- -------------- --------------|
|41,474|-|41,474|98,670|
|-------------- -------------- -------------- --------------|
|Non-public bodies|
|Trust and Foundation Income|55,260|-|55,260|24,796|
|-------------- -------------- -------------- --------------|
|Corporate Income – sponsorship and|
|donations|29,900|-|29,900|2,001|
|-------------- -------------- -------------- --------------|
|Total|356,157|-|356,157|362,664|
|======== ======== ======== ========|
**----- End of picture text -----**
The Trust and Foundation Income received in the year of £55,260 consists of the following: St Johns Upper Norwood - **£5,400**
Magdalen & Lasher - **£18,710** Foyle Foundation - **£3,750** Isabel Blackman Foundation - **£3,000** Buckingham Palace Donations - **£21,400** The Blythe Watson Charitable Trust - **£2,000** David and Sarah Kowitz - **£1,000**
- 18 -
DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
## **THE LONDON MOZART PLAYERS TRUST CIO**
## **(Limited by Guarantee)**
## **NOTES TO THE ACCOUNTS (continued)**
## **For the Year Ended 30 June 2022**
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|Unrestricted Restricted|Total|Total|
|Funds|Funds|Funds|Funds|
|16.|Investment income|2022|2022|2022|2021|
|£|£|£|£|
|Bank Interest Receivable|-|-|-|16|
|======== ======== ========|=======|
|Unrestricted Restricted|Total|Total|
|Funds|Funds|Funds|Funds|
|17.|Other income and gains|2022|2022|2022|2021|
|£|£|£|£|
|Royalties from the exploitation of intellectual|
|property rights|620|-|620|372|
|Sundry other income|-|-|-|-|
|Ticket Sales|23,355|-|23,355|13,554|
|-------------- -------------- -------------- --------------|
|23,975|-|23,975|13,926|
|======== ======== ======== ========|
|18.|Expenditure on charitable activities- Grant funding of activities|
|Unrestricted Designated|Total|Total|
|Funds|Funds|Funds|Funds|
|2022|2022|2022|2021|
|£|£|£|£|
|Grants made to LMPO|492,155|-|492,155|504,345|
|Support costs|7,094|-|7,094|7,176|
|-------------- -------------- -------------- --------------|
|499,249|-|499,249|511,521|
|======== ======== ======== ========|
|Unrestricted Designated|Total|Total|
|Funds|Funds|Funds|Funds|
|Grants made|2022|2022|2022|2021|
|£|£|£|£|
|London Mozart Players Orchestra Limited|492,155|-|492,155|504,345|
|======== ======== ======== ========|
**----- End of picture text -----**
The Trust's grants are paid on a restricted basis, and the Trust has formal agreements with LMPO in place reflecting this. The Board of the Trust works closely with the management of LMPO to oversee LMPO's plans and to ensure work supported by grants from the Trust is in accordance with the Trust's charitable objects and for the public benefit.
- 19 -
DocuSign Envelope ID: 3029385B-2E8E-4C8B-93C0-AE567FDB5952
## **THE LONDON MOZART PLAYERS TRUST CIO**
## **(Limited by Guarantee)**
## **NOTES TO THE ACCOUNTS (continued)**
## **For the Year Ended 30 June 2022**
|||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**Funds**|
|**19.**|**Support costs**|**2022**|**2022**|**2022**|**2021**|
|||**£**|**£**|**£**|**£**|
|Sundry expenses||2,690|-|2,690|2,811|
|Bank charges||1,038|-|1,038|999|
|Depreciation||3,366|-|3,366|3,366|
|||--------------|--------------|--------------|--------------|
|||7,094|-|7,094|7,176|
|||**========**|**========**|**========**|**=======**|
|**Less: Support costs reallocated to specific activities**||||||
|To grant making costs||(7,094)|
-|(7,094)|(7,176)|
|||**========**|**========**|**========**|**=======**|
|The basis of allocation of costs between activities is described under accounting policies.||||||
|||**Unrestricted**|**Restricted**|**Total**|**Total**|
|||**Funds**|**Funds**|**Funds**|**Funds**|
|**20.**|**Governance costs**|**2022**|**2022**|**2022**|**2021**|
|||**£**|**£**|**£**|**£**|
|Independent Examiner’s fee||1,800|-|1,800|1,650|
|||**========**|**========**|**========**|**=======**|
|||**Unrestricted**|**Restricted**|**Total**|**Total**|
|||**Funds**|**Funds**|**Funds**|**Funds**|
|**21.**|**Total charitable expenditure**|**2022**|**2022**|**2022**|**2020**|
|||**£**|**£**|**£**|**£**|
|Total grant making costs||497,449|-|497,449|509,871|
|Total governance costs||1,800|-|1,800|1,650|
|||--------------|--------------|--------------|--------------|
|||499,249|-|499,249|511,521|
|||**========**|**========**|**========**|**========**|
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