Registered number: 2053843
Charity numbèr: 295178
ST GEORGE'S BRISTOL
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
? Bishop Fleming

ST GEORGE'S BRISTOL
CONTENTS
Page
Reference and Admlnislrativo Detalls of tho Charlty, It$ Twstegs and Advisers
Chairfs Statement
TTustee5' Report
Twustees. Responsibllltles Statement
Indgpondont Audltors, Report on the Flnanclal Statements
8-11
Consolldated Statement ot Flnanelal A¢tlvltle6
12
Consolidated Balance Sheet
Charlty Balance Sheet
14
Consolidated Stat•ment of Cash Flows
15
Notes to the Flnanc131 Ststements
16-30

ST GEORGE'S BRISTOL
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARifi. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
Douglas Boti
Mark Bowers
Katherine Branch
Christian Cull
Anna Farthing
Ben Heald, Chair Istepped down 11 June 2024)
Stephanie Jay
Paul Kenyon. Chair {appointed 4 July 20251
Chris Ladkin Istepped down 29 May 2025)
Madeline Toy
Sallie Blanks Nash
Jonathan Brecknell
Maria Croyion
Roland Home
18n Oxley
Susan Rigby, Chair (appointed 11 June 2024, stepped down 25 Febfuary 2025
Simon Cook
Company reglst•red
number
2053843
Charlty registered
numb•r
295178
Registered office
Great Georgo Street
Off Park Street
Bristol
BS15RR
Company Socrgtsry
Loffain8 James
Chief •xe¢utivo
Samir Savant
Independent auditors
Bishop Flerlling LLP
Chartered Accounlanls
10 Temple Back
Bristol
BS16FL
8anker8
CAF Bank Llmiled
King's Hill
Wesl Malling
Kent
ME194JQ
Page 1

ST GEORGE'S BRISTOL
CHAIR'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
The Chair presents his stslemenl for thé year.
St George's is a vital, thrNing hub for music in Bristol. Some of its diverse and varied programme of events we
programme ourselves, as part of our remit lo engage local alizens with music., somè are performances on which
we work in partnership with promoters and artist5,' and il is also pleasing lo welcome a growing range of
organls8lk)ns who host their own events, meetings, conferences, lectures and workshops. Consequently, Sl
George's is increasingly busy throughout the day. fully Juslify'ng our long term ambition to be open all hours for
p￿p1S and musi
The year was significantly impacted by the programme of works carried out to the roof of the new extension,
whith necesstlated a longor period of closure over the surnmer than is usual. l am delighted to be able lo say
that the works were completed on schedulè despite some increases in scope and came in slightly below Ihe
budgeted cost. This was due lo the ex¢e15enl collaboration belween the Sl George's team and the contractors,
and the Trustees would like to lake this opportunity of recording their sincere thanks lo both teams for resolving
this long-running issue. The trustees would also like lo thank the very loyal group of supporters who contributed
lo the "Roof Stars. campaign lo fund the works, led by our former Chair, Ben Heald, who also kindly stayed on
Ihe steering group to See the project through lo completion.
From a financ¢81 perspectiv8, there was an op8rational loss of £20k for the ye8r 12024-. bss of £3kl. and an
increase in funds of £127k. The Board believes that thi5 was a creditable performance on the part of Ihe
management team given the impact of the roof repairs noted above.
Lastly the Iruslees would like lo record their thanks lo Sue Rigby for her brief tenure 8$ Chair. Subsequent to
joinin9 Sl George's, Sue was offered the role of Vi¢e-Chancellor al Edinburgh Napier University and, given that
her long-held ambition was lo retire to that eity. understsndably d8cided to accept il and due to the need to focus
on hei new role regrethjlly tendered her ￿IgnatiOn in February of Ihis year. A recruitment process for Ihe
position of Chair has beén launched with the expectslion of having the new incumbent in place for September.
Paul Ken
Chair
Dale.. %9 o ￿1,1
Pag& 2

ST GEORGE'S BRISTOL
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees are pleased lo present their annual report together with the financial slalemenls of the charitable
company {Ihe Charity,, 'Ihe Companl or 'SI George's'l for thè year ended 31 March 2025. Reference and
adminislr8tive detsils are sel out on pagg 1 and form part of this report.
The Annual R8PQrt serves the purposes of both a Trustees. report and a Directors, report under company law.
The Twslees confirm that the Annual Report and financial statements of the charitable company compty with the
current statutory requirements, the requirements of the charitable companls governing document and the
provisions ol the Statement of Recommended Practice ISORPI applicable lo charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republ￿ of Ireland IFRS1021
leffective 1 January 20191.
Objective5 and Activities
The objectives of the Charity are to=
Promote an appreciat￿n and understsndiro of music through its performance and study. and
Preserve for the bertfil of the general public the historic and archileclural herilage of the building and
surrounding grounds.
The Charity's vision is to LTeate unforgettable experiences by bringing together exceptional artisls with Focal
aLtdien￿$ and communities, realised through its mission of connecting people through remarkable music and
cultural experiences al our iconic Bristol venue by supporting outstanding arkn'sts, inspiring aLtrdiences and
engaging with cornmunilies in Bristol and beyond.
Publlc benefft
Thè Trustee5 have complied with the Charities Act 2011 and their duty lo have due regard lo the Charity
Commission's public benefit guidance when exercising powers and duties to which the guidance is relevant.
Achiovemgnts and Porfofflianc•
We have had the usual busy year of live music and spoken word events, alongside our thriving creative leaming
and communty engagement programme. In total, some 300 events, including our cultural programme and
private hires, welcoming over 120.000 people through our doors.
Our classical programme byds as vibrant as ever. Our piano wncerts are always popular - we welcomed the
2024 Leeds Inleinational Piano CoTnpeblion winner, Jaeden Izik-Dzurko. alongside international stars Pavel
Kolesnikov and Anna Tsybuleva. Our new "Classical Up Close" series worked well, with audiences sat in the
round close to tho artists in our intimat8 spac&.
We had a particular focus on baroque music, which induded Academy of Ancient Music with countertenor
Reginald Mobley, and the relum of Rachel Podger wtth Brecon Baroque. We a150 celebrated the anniversaries
of Holsl, with a performance of hrs ever-popular The Planets with Hans Zimmerfs Interstellar performed by Bristol
Ensemble, and then Palestrina and Arvo Part. in a sold-out concert by the Tallis Scholars which was crowned by
&star Teview in the Guardian.
In our broader music offer, including folk, jazz and roots, a highlight was Courtney Pine's 60th birthday party, with
a pack8d standing gig. We also welcomed a variety of artists lo Sl G80rg8's for the first time, including sitarist
Jasdeep Singh Degun, various artists as part of our 'Rising Folk. strand, and also Llghtime Musi¢. a new series
of daytime concArts in partn8rship with Mothers in Music.
Our Thursday lunchtime classical recital series is flourishing with the very best lalenl on display with everything
from solo percussion lo baroque ensernble. Aongside. we are also building audiences for OLsr new Friday jazz
strand, again promoting emerging talent. In January we collaborated with researchers from the southwesl-based
Myworld project lo present two lunchtime recitals, one classical. one jazz. A team of scienlisls investigated how
live musb affects both audiences and performers, and what sets this experience apart frorn listening lo a
recording or watching a video.
Page 3

ST GEORGE'S BRISTOL
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
ICONTINUEDI
We held our third Festival of Voice in June. A key initiative was our new Sing for Happiness project bringing
together hundreds of singers togethèr with specialist researchers from the University of the West of England lo
look into the impact of singing on our well-being and mental health. We have been pleased with the results so
far, with a third of the participants sawng they have not sung since they were children, if at a￿. The summer
project was so successful we repealed it al Christmas.
Our creative leaming programme and community work continues lo expand. Cosmos is flourishing. this is our
weekly children's community singing project, based out of two schools in the Knowle West area of Bristol. We
were pleased lo arrange performance opportunities for them, including al T￿te5field. Our Community Ticket
Club has grown lo indude more partners.
Fundralsing, commercial venue hire, and hospitality income continLJe to be an important part of our financial
success as the income generated from lickel sales only accounts for around 400A of our operating income. We
relauncharj our Membership programme, with revised levels and a ref￿shed range of benefits. We are grateful
lo our family ol philanthropic supporters, members, commercial clients and partners for our continued succe&s
and growth.
Thè Trustees would also like to thank the staff al Sl Georges and the many volunteers who enable the
organis81ion to thrive.
Investment P¢llcy and PerfomanGg
Under the lerms of the goveming document the Chorily has the power lo make any investment that the Trustees
see fil. The Board, having regard lo the liquidity reqLsiremenls of operating Sl George'5, has a policy of holding
ny surplus funds as eash investments and seeks to maximise returns on such deposits whilst minimising any
credit risk.
Crodltor Payment Policy
116s St George's pollcy lo pay creditors in accordance with terms of Pa￿nent agreed al thfj start of business with
each supplier.
STRATEGIC REPORT
FINANCIAL REVIEW
The improvement in operational performance of the Charity seen lasl year was maintained. However. income
from trading activities in the currenl financial year was down on the Previ￿jS year as a result of the longer
summei shutdown period to enable the roof works on Ihe new exlension lo be carried out. The project was
delivered on lime and, desprte a sm811 increase in scope, came in slightly below ￿dgeted costs.
Revlew of the Year
Sl George's result for the year was an operational loss of £20k12024.. £3k lossl and an overall increase in funds
of £127k.
The full financial statements are sel out on pages 12 to 30.
Risk Management and Reserves Pollcy
Sl George's programmes concerts and other events which necessarily have to be planned in advance. some up
10 3 years ahead. Staff are employed through contracts of employment. Income and expenditure are seasonal
we piomole concert seasons and many buy lickels in advarKe. We also have to consider risks lo the Charity- .
The Trustees regularly review and update the key risks to th& Charity which include..
Ihose which affect the number ol tickets bought for events, including compelitson.,
Page 4

ST GEORGE'S BRISTOL
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2025
(CONTINUED)
those which affect perfoimanees..
other trading risks", atNJ
estates and compliance risks. induding health and safety risks.
All of these risks are managed conts'nuously, and mitigations are pul in place as required. These include=
marketing and advertising-
repairs and maintenance., and
discussion and ￿$01vIng Issues ￿th performers. fvnders and regulators.
Many of the assoaaled costs are already ￿rne by the Charity in budgets, eg salaries and regular maintenance,
Ixrt where additlonal cost Is incurred, it is charged against income in the year in que5kn"on. The Trustees have
concluded that the Charity needs to hold some res8rv8S to deal with unanticipated changes in the level ol
income, in particular ticket sales.
The Tnjstees maintain insurance against business interruption.
Risk of unplanned closure
The Charity Commission requires us to cmsidef wh81her reserves are required to cover the possibility of
unplanned closure. The Trustees plan for the long temi on the basis that st George's wll grow and develop,
enhancing its seNces while managing th8 risks it faces. Al the present lime, the Trustees do not foresee any
significant risk of unplanned dosure bul see the need lo retsin reserves to cover the risk of fluclualions in tid(el
sales.
Reserves held by the charlty
The Truslees Conclude that the Charity needs lo hdd r8seNes lo cover the conlr8clual commitment il makes to
perfomiers and staff in the medium term in the event thal there is an unantscipaled downtum in the sale of lickels
lor p&rfomiances at Sl George's.
The Trustees estimate Ihal an equivalent of three months of artisis, fe8s and staff salaries is the minimum
required lo cover this risk and have set a minimum level of free reserves of £300k.
Al 31 March 2025, the level of free r8s8rves was £239k.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Constltutlon
Sl George's Bllstol 15 a company limited by guarantee and registered as a Charity with the Charity Commission.
It is govèmed by its Artid8s of Association.
Page 5

ST GEORGE'S BRISTOL
TRUSTEES. REPORT {CONTINUEDI
FOR THEYEAR ENDED 31 MARCH 2025
ICONTINUEDI
Organlsational Structure and DKision Making
The governing body of th¢ charitable company is the Board. The Directors are also the Charity's Trustees for
the purposes of Charity law and are generally referred lo as the Trustees. The Board meets 6 times a year wlh
the Chief Executive and senior stsff in attendance. 11 is involved in major strategic decisions and has ultimate
responsibility for the conduct and financial stability of Sl George's. Committees and working parties are
established for relevant purposes. At present there is a committee in place foT Finance and Operations, a
Working Party lo manage the reeruilment of a new chair and a sepafale Working Party for the new membership
schem8. All meet regularly and are acctyJntabl8 to the Board.
The Chief Executive manages the day-lo-day operations of the Charity. The Board appoints the Chief Executive
and is also invofved in the recruilmenl of other members of the senior management team, determines their
contracts of employment and reviews pay and performanc8.
Trustees are recruited for an initial term of 3 years through a process ol advertisement and interview.
Appointments may be extended wher8 appropriate to th8 needs of the Organisat￿. There is an induction
pro￿S8 for new Trustees,
The Charitys wholly owned subsidiary, SG8 Enterprises Limlte¢J, manages commerdal activities. It donates ils
taxable profits to the Charity by way of Grft Aid.
FUTURE PERIODS
We look forward to our ever-varied progTamm&. bringing back Sl George's favouriles and welcoming new artists
lo help keep our programme fresh and tslevant, and attract nèw and mora divers8 audiances. We will be
working even d05er with our partners al BBC Rad￿ 3, including a Prom and further engagement with the New
Generation Artisls. A particular highlight will be inlemational Make Musi¢ Day. when we wll tske the lead In
filling Bristol with music from a wide range of groups.
INFORMATION ON FUNDRAISING PRACTICES
The majority of Sl George's income is from lickels. trading and grants. We also offer individuals 8 range of ways
of conlribuling to our work through season tickats and membership schemès. which we promote through
brrLhures, programmes. and our digital communications. We fully comply with the GDPR regulallons and have
had no wmplaints about any aspe¢l of our fundraising.
Fingnclal rlsk management
The Trustees have assessed the major risks lo which the Group and the Charity are exposed. In particular those
related to the operations and finances of the Group and the Charity. and are satisfied that systems and
procedures ar8 in place lo mitigate exposure lo Ihe major risks.
Auditors
In so far as the Trustees are aware..
there is no relevant audit information of whith the charitable Group's auditors are unaware., and
Ihe Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant
audil information and lo estsblish that the auditors are aware of that infomiation.
Th8 auditors. Bishop Fleming LLP. are willing to continue in office aThJ a resrAution to appoint them will bg
prowsed at the annual general meeting.
Ap￿￿0ved by order of the ￿MberS of the board of Tru51ees and signed on their behalf by.
Paul Kenyon
Chair of Trustees
Date.. 29 O￿L'L
Page 6

ST GEORGE'S BRISTOL
sTATEmETr￿ OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees (who are also the directors of the Charity for the purposes of company lay¥l are responsible for
preparing the Trustees, Report and the financial slalemenls in accordance with applicable law and United
Kingdom ACc￿ntIng Standards (United Kingdom Generally Accepted Accounting Practice}.
Company law requires the Trustees to prepare financial slalements lor each financial ￿ar. Under company law,
the Trustees musl not approve the financial statements unless thay are satisfied that they give a true and fair
view of th8 Stale of affairs of the Group and the Charity and of their incoming resources and application of
resources, including their income and expenditure, for that period. In preparing these financial statemen13, the
Tru51ees are required to..
select Suitable accounting policies and then apply them consislenlly.,
obsgrve th8 methods and principles of the Charities SORP IFRS 1021.,
make S￿1gements ané accounting estimates that are reasonable and pNJdenl'.
state whether applicable UK Accounting Standards IFRS 1021 have been followed. subjeel to any material
departures disclosed and explained in Ihe finanual stalemenls..
pr8pare the financial statemènts on the going concem basis unless it is inappropriate to presume that the
Group will Continue in business.
The TNslee$ are responsible for keeping adequat8 accounting rerA)rds that are SLrfficient to show and explain
the Group and the Charity's transactions and disclose with reasonable accuracy at any lirne the financial position
of the Group and the Charity and enable them to ensure that the financial statements comply with the
Cornpanigs Act 2006. They are also responsible for safeguarding the assets of the Group and the ChaTity and
hence foi taking reasonable slèps for the prevention and detection of fr8ud and oth8r irregularities.
Page 7

ST GEORGE'S BRISTOL
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST GEORGE'S BRISTOL
OPINION
We have audited the financial stslemenls of Sl George's Bristol Ilhe 'parenl charilable company,) and ils
subsidiaries Ilhe 'group'l for the year ended 31 March 2025 which cornprise Ihe Consolidated Statement of
Financial Activf(ies. the Consolidated Balance Sheet, the Charity Balonce Sheet, th8 Consolidated Statement of
Cash Flows and the related notes. including a summary of signifbcanl accounlir4J policies. The financial reporting
tramework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard appllcable in the UK
and Republic of Ireland. Iunitgd Kingdom G&nerally Accepted Accounting Practicel-
In our opinion the financial slatemenls..
give a true and fair wew of the state of the Group's and of the parent charitsble companls affairs as at 31
March 2025 and of the Group's incoming resources and application of resources. including its income and
expenditure for the year then 8nd8d.
have been properly prepared in accordance wth United Kingdom Generally Accepted Accounting
Pracli¢e', and
have been prepared in accordance wrth the requiremanls of the Companies Act 2006.
BASIS FOR OPINION
We conducted our audit in ar￿ance wth Inl8mational Standards on Au(liling IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the Group in accordance with th& ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial R8porting Council's Elhic81 Standard. and we have fulfilled our other ethical ￿Sponsibl11t1es in
accordance with these requirements. We believe that the audit evidenGe we have obtained is sufficient and
apwropriate to provide a basis for wr opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In audiliThJ the finanual ststements. we have concluded that the Trustees, us8 of the going concern basis of
accounting in the preparalr)n of the finanaal slalements is appropriate.
Based on the work we have performed. we have not identified any material uncertaintses re181ing to events or
conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable
companys ability to continue as a going concem for a period of at I8ast ￿e1ve months from when the financial
stslements are aulhorised for issue.
Our responsibiliti8s and the responsibilrties of the Trustees with respect lo goirvJ concgm ar& described in the
retevant sections of this report.
OTHER INFORMATION
The other information comprises the infomalion inclutjed in the Annual Report other than the financial
slalemfints and our Auditors, Report Ihereon. Th8 Trustees are rèsponsibl8 lor the other information contained
within the Annual Report. Our opinion on the financial slalements does not cover Ihe other informatior) and,
except to the extent otherwise explicitly slated in our report. we do not express any fomi of assurance condusion
thereon. Our responsibility is lo read the other informatron 8nd, in doing so, consider whether the other
infomialion is materially inconsislenl with the financial statements or our knowledge obtained in the course of the
audit. or otherwise appears lo be materially misstated. If we identrfy such material inconsistencies or apparent
material misstalemenls, we are required lo determine whether this gives rise lo a material misslalement in the
financial statements thomselves. If, based on the work we have perfomed, we conclude that there is a material
misslalemenl of thi5 Other information. we are required lo report that fact
We have nothing to report in this regard.
Page 8

ST GEORGE'S BRISTOL
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST GEORGE'S BRISTOL ICONTINUEDI
OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken In the course of the audit..
the information given in the Trust88s' Report for the financial year for which the financial statements are
prepared is consistent with the financial statements.
the Truste8s' Report has been prepar8d in accordance with applicable legal requirements.
A￿ERs ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
In the light of our knowledge and understsnding of the tharitable company and its environmgnl obtained in Ihs
course of the audit, we have not identified material misstatements in the Trustees, Report.
We have nothing lo rewrt in respect of the following matters in relation lo which Cornpanies Act 2006 requires
us to report to you if. in our opiniori..
the parent charitable eompany Pias not kept adequate and sufficient accounting records, or retums
adequate for our audit have not been received from branches not visited by us. or
the parent charitable company financial stalernen15 are not in agreement wtth the accounting records and
relums., or
certain disdosures of Trustees, remuneration specified by law are not mad8'. or
we have not received all the infomiation and explanatsons we require for our audit.
RESPONSIBILITIES OF TRUSTEES
As 6xplain8d more fully in the Trustees. Responsibilities St818menl, the Trustges (who are also the directors of
Ihe charitsble company for the purposes of company lawl are responsible for the preparation of the financial
slalements and for being satisffied that they give a true and fair view, and for such internal control a5 the
Trust88s del8rmine is necessary lo enable the preparation of financial statements that are free from material
misstslgment, whether due lo fraLbd or e￿Or.
In preparing the financial stslemenls, the Trustees are responsible for assessing the Group's and the parent
charitable companls ability lo continue as a going concem, disclosing. as applicable, matters related lo going
concern and using the going wncern basis of accounting unless the Trustees eith&r int8nd to liquidate the Group
or the parenl charitable company or to cease operations. or have no realistic altematNe but to do so.
Page 9

ST GEORGE'S BRISTOL
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST GEORGE'S BRISTOL ICONTINUEOI
AUDITORS. RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Qur objectives are to Dblain reasonable assurance about whether the financial slalements as a whol8 are free
from material misstalemenl, whether due lo fraud or errof, and lo issue an Auditors. Report that includes our
opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that ari audit Conducted in
accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered materfal if, individually or in the aggregate, they could reasonably be
expected to inftuence the economic decislons of users taken on the basis of these financial slalemenls.
Irrggularilias. Induding fraud, are instancas of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect m8leri31 misslatemenls in respect of irr¢gularities,
including fraud. The extent to which our pr¢x8dures are capable of deleding irregularities, including fraud 15
detailed below..
We have considered the nature of the sector, control envlronment and financial performanc8,'
We have considered the results of enquiries wtlh management and Trustees in relalv)n lo their own
idenlificalion and assessment of thfr risk of irregularth8s within the entity.,
We have reviewed the documentation of key processes and controls and perfomed walkthroughs of
transactions lo confimi that the systems are operating in line with documentation- and
We have considered the matters diseussed among the audit engagement team regarding how and where
fraud might occur in the financial statements and potential indicators of fraud.
As a result ol these proCedU￿s, we have considered the opportunities and incentives that may exist within the
organisation for fraud and identified the highest area of risk to be in relation lo revenue r8cognilion. with a
partiCLJlar risk in relation to year-end cut off. In common with all audits under ISAS IUKI we 8re also required lo
perfomi specthc procedures to resporKI to the risk of management override.
We have also obtsined understsnding of the legal and ￿gulatOry frameworks that the Chafity operates in,
focusing on provisions of those laws and regulats'ons that had a direct effect on the determination ol tnalerial
amounts and disclosures in the financial slat8menls. The kay laws and regulations we considered in this context
included the Charitses Act 2011, Charity SORP 2019. FRS 102 and the terms and conditions attaGhing to
material grants received by the Charity.
In addition, we consid8red thè provlsions of other laws and regulations that do not have a dI￿¢t effect on Ihe
financial statements bul compliance with which may be fundamental lo the cha￿￿5 ability to 0￿rat8 or avoid a
material penalty. These inclutjed data proleclvjn regulations, health and safely regulations and employment
legislation.
Our prO￿dureS to ￿Spo￿j to the risks identified included the following-
Reviewing the financial stslgment disclosur8s and testing to supporting documantalion to assess compliance
with provisions of relevant laws and regL51alions described as havlng a direct effect on the financial
stalèmenls.,
Performing 8nalytScal procedures lo idenllfy unusual or unoxpe¢ted relatDnships that may indute risks of
material missiatemenl due lo fraud..
Review of board minutes.,
Enquiring of management in Telation lo actual and potential daims an¢J litigal¥Ms',
Performing detailed Iransaclional testing in relation to the recognition of rev8nue, specifically grants, with a
particular focus around year-end cut off..
In addressing the risk of fraud through management override of controls. lesling the approp￿atenesS of
journal entries and olhor adjustments.
We also communicated identified laws and regulations and potential fraud risk5 to 811 engagement team
membèrs and remained alert to any indiealions of fraud or non-compliance with laws and regulations throughiyJt
the audit.
As a result of Ihe inherent limitations of an audit. there is a risk that not all irregularities, including a material
misstatement in the financial stalemenls or non-compliance with laws and regulations, will not be detected by us.
Page 10

ST GEORGE'S BRISTOL
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST GEORGE'S BRISTOL (CONTINUED)
The risk increases the further removed compliance with a law or regulation Is from the events and transactions
reflected in the financial slalgments, given we will be less likely lo be aware of it, or should the ir￿gUI8r1fy occur
as a result of fraud rather than a one off error, a5 this may involve intentional Con￿alment. forgery, collusi¢)n,
omission or misreprosentalion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frc.or .uklaudilorsres
nsibilities. This description form5 part of our
Auditors, Report.
USE OF OUR REPORT
This report is made solely lo the charitsble companrfs members. as a body, in accordance with Chapter 3 of Part
16 of the Companies Acl 2006. Our audit work has b86n undertaken so that we might slate to th8 charilab
companls members those matters we are required lo stale lo them in an Auditors. Report and for no other
purpose. To the fulle51 extent permitted by law, we do not accept or assume responsibility to anyone other than
thè charitable company a
rts mèmbèrs, as a body, for our audit work, for this report. or for the opinions we
have formed.
Joseph S¢a5fe FCA DChA (Senior Statutory Audltor)
for and on behalf of
Blshop Fleming LLP
Chartered A¢¢ounlants
ststutory Auditors
10 Temple Back
Brist
BS16FL
Date..
l? (Zo
Page 11

ST GEORGE'S BRISTOL
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND
EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 MARCH 2025
Unrgstrictod
funds
2025
£000
Restricted
funds
2025
£000
Total
funds
2025
Éooo
Total
funds
2024
£000
Note
Income from:
Donations and legacies
Charitable activities
Other Ir&llng actlvltles
Investments
356
234
590
315
842
785
592
47
592
47
17
Totsl income
1,837
234
2,071
1.784
Exp&nditure on:
Raising funds
charitab￿ activities
197
1,660
197
1,747
211
87
1,667
T¢tal expenditure
1,857
87
1,878
Net movement in funds
(20}
147
127
{94)
Rèconciliation of funds:
Total funds brought forward
Net movement in funds
975
9.065
147
10.040
127
10,134
194)
{20
T¢)tal fund5 carriod forward
955
9.212
10,167
10,040
The ConsolKJated Statement ol Financial Activities includes all gains and losses recognised in the year.
The notes on pages 16 10 30 fom part ol these financial statements.
Page 12

ST GEORGE'S BRISTOL
REGISTERED NUM8ER:2053843
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2025
2025
£000
2024
£000
Note
Fixed assets
Tangible asse15
11
10,247
9,757
10,247
9,757
Current assets
stod(s
13
23
29
117
1,233
Debtors
Cash at bank and in hand
14
87
1,004
1,114
1,379
Creditors.. amounts falling due within one
15
{8141
(700)
Net current assets
300
679
Total ass•ts l•ss current liabilities
10,547
10,436
Creditors.. amounts falling due after mor8
than one year
16
{3801
1396)
Total net assets
10,167
10,040
Charlty fund5
Reslricled funds..
Restricted funds
17
9,212
9,065
Totsl reslricled funds
17
9,212
9,065
Unrestricted funds..
Designated funds
General funds
17
716
641
334
239
Total unreslricled funds
17
955
975
Tolal funds
10,167
10.040
The financial Statements were approved and aulhorised for issue by the Trustees and stgned on their behalf by.
Dale..
29 J￿L,£
The notes orb pages 16 10 30 form part of these financial ststements.
Page 13

ST GEORGE'S BRISTOL
REGISTERED NUMBER:2053843
CHARifY STATEMENT OF FINANCIAL POSITION
FOR THE YEAR ENDED 31 MARCH 2025
2025
£000
2024
£000
Note
Flxod assets
Tangible assets
11
10.247
9.757
10,247
9,757
Current assets
Debtors
14
132
866
159
Cash al bank and ir) hand
998
1.270
Creditors.. amounts falling due within one
15
{6981
{5911
Net Current assèts
300
679
Totsl assets less current Ilabilitios
10,547
10.436
Creditors.. amounts falling due after more
than one year
16
1380)
13961
Total net as$•ts
10,167
10,040
Charity fund5
Reslricte(i funds-
Restricted funds
17
9,212
9,065
Total restricted funds
Unrestricted funds=
17
9,212
9.065
Designated fiJnd$
General funds
17
716
239
641
334
17
Total unrestricted funds
17
955
975
Total lunds
10,167
10,040
Th8 Charitys net movement in fvnds for the year was £127k12024'. £194kll.
The Trustees aCknO￿edge their responsibilities for complylng with the requirements of the Act with respect to
accounting records and preparation of financial slalements.
The financial slalements were approved and authorised for issue by the Trustees and signed on their behalf by..
Dale..
2et a￿l'L4
The notes on pages 16 to 30 fonn part of these financial $tatements.
Page 14

ST GEORGE'S BRISTOL
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 klARCH 2025
2025
£000
2024
£orKJ
Cash Ilows from operating activities
Net cash used in operats'ng activities- note 19
328
115
Cash flows from investing activities
Purchase of tangible r￿ed a55els
($391
11011
Nel cash u$8d in investing actlvltles
(5391
11011
Cash flows from financing activities
Repayments of borrowing
118)
(181
N•1 ¢a$h used in financing activities
118)
118)
Chang8 in cash and Cash equivalents in the year
Cash and cash equivalents al the beginning of the year
{229>
1.233
14)
1,237
Cash and ¢a$h aquivalents at the end of thè yaar
1.004
1.233
The notss on pages 16 to 30 fom) part of these financial slatem6nls
Page 15

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
GENERAL INFORMATIOM
St Georg8'$ 8rislol is a company limited by guoranlee and a charity registered al the Charity Commission
in England and Wales. The principal address Is Greal George Street, Bristol, BS1 5RR.
ACCOUNTING POLICIES
2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financi81 statements have been prepared in accordance with the Charitl8s SORP IFRS 1021
Accounting and Reporting by Charities.. Statemènt ol R8comrn8nd8d Pra¢li¢8 applicable lo charities
preparing their accoLJnts in accordance with the Financial Reporting Standard 8ppl¢cable in the UK
and R8publiG of Ireland {FRS 1021 leffective 1 January 20191, the Finarscial Reporling Stan(Jard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
St George's Bristol meets the definition of a public benefit entity unéer FRS 102. Assets and liabilities
are inttially recognised at historical cost or Iransaetlon value unless otherwise staled in the relevant
8ccounling policy.
The Consolidated Statement of Financial Activities ISOFAI and Consolidated Balance Sheet
consolidat8 tha financial statements of the Group and its subsidiary undertaking. The results of the
subsidiary ar& consolidated on a line by line basis.
The Group has taken advantage of the exemptlon allowed under sedion 408 of the Companies Act
2006 and has not presented ils own Stalernenl of Financial Activitie5 in thes8 financial statem&nts.
22
COMPANY STATUS
The Charity 15 a company limiled by guarantee. The members of the Charity are the Trustees
named on page 1. In the event of the Charity being wound up, the liabilityin respect
of the guarantée is limited to £1 per member of the Charity.
2.3 GOING CONCERN
The Trustees consider that there are no rnaterial UT)certainlies about St George's 8ristol's ability to
continue as a going concem and as a consequence have prepared the accounts on the going
concem basis.
2.4 FUND K¢OUNTING
General funds are unrestricted funds which are available for use at the dlscretlon of the Trnslees in
furtherance of the general objectives of the Group and whlch have not been designated for other
purposes.
Designated funds cornprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes lo the financial
stslemenls.
Restricted funds are funds which are to be used in accordance with specific Testrictions Imposed by
donors or which have been rais8d by the Group for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each reslrict8d
fund is sel out in the notes lo the financial statements.
Pag8 16

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES Icontinu•d}
2.5 INCOAIE
AJI income is recognised once the Charity has enliuemenl lo the Income, it is probable that the
Income wlll be received and the amount of income receivable can be measured feliably.
The recognition of income from legacies is dependent on establishirbg entitlement, the probability of
receipt and the ability to estimate with sufficient accuracy the amount re￿1Vable. Evidence of
entitlement lo a legacy exists when the Charity has sufficient ewdence that a gift has been left to
them Ilhrough knowledge of the existen￿ of a valid will and the death of the benefaclorl and the
executor is satisfied that the propgrty in question will not be required to 5allsfy claims in the eslale.
Receipt of a legacy must be recognised when il is probable that it will be received and the fair valu8
of the amount receivable, which will generally be the expéc16d cash amount lo be distributed to the
Charity. can be reliably measured.
Other income is recognise(l in the period in which it 15 r8c8ivable and lo the extent Ihe goods have
been provided or on completion of the servi￿.
2.6 EXPENDrruRE
Expenditure is recognised once there is a legal or constructive obligation to transfer economic tsene171
to a third party, it is probable that 8 transf8r of economic benefits w￿1 be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The Costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct eosls attributsble lo a single activity are allocalerl directly
lo that activity. Shared costs %thi¢h contribLJt8 to more than one activity and support costs which are
nDt attributable lo a single activity are 8PPOrtioned behveen those activities on a basis consistent with
the use of resources. Central staff costs are allDcaled on the basis of lime spent, and depreciation
charges allocated on the portion of the asset's use.
Fundraising costs are those incurred in seeking voluntary ￿ntribUtIOnS and do not include the costs
of disseminating information in support of the charttable aGlivities. Support costs are those costs
incurred direcuy in support of exp8ndilure on the objects of the Charsty.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in
trading activities that raise funds.
Charitable activities are costs incurred on Ihe Charills educational operations, including support
costs and costs relating to the governance of the Charity.
All expenditure is inclusive of irrocovgrable VAT.
BASIS OF CONSOLIDATION
The financial statements consolldate the accounts of St George's Bristol and all of ils subsidiary
undertakings I'subsidiaries'l.
The Charity has taken advantsge of the exemption contained within section 408 of the
Companies Ad 2¢X16 not to present ils own income and expenditure account.
The surplus for the year dealt with in the accounts of the Charity was £127k12024- £94k deficit)
18 TANGIBLE FIXEDASSETS MID DEPRECiATION
Tangible fixed assets are carried al cost, net of depreciation and any provision for impairment.
Depreciation is provided at rates calculated to wrlte off the cost of ￿Xed assets, less their eslimaled
residual value. over their expected useful lives on the following bases..
Pag8 17

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 31 MARCH 2025
ACCOUNTING POUCIES {continuod
2.8 T￿GIBLE FIXED ASSETS ANO DEPREcIAT￿N ICONTINUEDI
Depreciation is charg8d so a5 to allocate the cost of tsnglble fixed assets less their residual value
over their estimated useful lives.
Deprecialion is provided on the following bases..
Pianos
Equipment and rth'ngs
straight line ov&r 25 years
straight line over 2-15 years
No dèpreciation is charged on le8sehold propety as in the opinion of the trustees the propety has a
high residual value in the event of a sale in the forseèable future and any charge would not be
material.
2.9 INTEREST RECEIVABLE
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by thg Charity.. this is normally upon notification of the interest paid or payable by th8 bank.
2.10 STOCKS
Stocks a￿ valued al Ihe lower of cost and net realisable value 8fter making due allowance fof
obsolela and slow-moving stocks.
2.11 DEBTC
Trade and other debtOTS are recognised al the settlement amount after any trade discount offered.
PrepayTnenls are valued at the amount prepaid nel of any trade discounts due.
2.12 CASH AT B￿K AND 14
Cash al bank ar￿ in hand includes cash and short-temi htghly liquid investments with a short malurily
of stx months or less from the (Jale of 8cquisilion or opening of the deposit or similar account.
2.13 LIABILITIES AND PROVISIONS
LK4bilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will b8 required in settlement, and the amount
of the settlement can be 8Stimaled reliably.
Liabilities are recognised al the amount that the Charity ants'apales it will pay lo settl8 the debt or the
arnounl il has recewed as advanced payments for the goods or services It must provide.
Provisions are rneasu￿d 81 the best estimale of the amounts reqUI￿d to setue the obligation. Where
the effect of th8 time value of money is material, the provision is based on the present value of those
arnounls, discounted at the pre-tsx discount rale that rellecls the risks specific lo the liability. The
urMiThling of the discount is recognised in the Consolidated Slalement of Financial Activities as a
rinanc8 Cost.
2.14 FINANC￿ INSTRUMENTS
The company only has financial assets and financial liabilities of a kind that qualify as basi¢ financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured al their selllemenl value with the excepti¢)n of bank loans which are subsequently
measured al amortised cost using the effective interest method.
Page18

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES (continued)
2.15 PENSIONS
The Group operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Group lo the fund in respect of thè year.
INCOME FROM DONATIONS AND LEGACIES
Unrestricted R*strlctad
nds
funds
2025
2025
£000
£000
Total
funds
2025
£000
Total
funds
2024
£000
Corporate donations
Other donations
Legacies
Grants
46
186
41
83
51
196
382
156
21
41
33
116
133
TOTNL 2025
356
234
590
315
TOTAL 2024
207
108
315
INCOME FROM CHARITABLE ACTIVITIES
Unrestrlcted
funds
2025
£000
Total
funds
2025
£000
Totsl
funds
2024
£000
Promotions, hires and
Learning & Participation
785
TOTAL 2024
785
785
Page 19

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
INCOME FROM OTHER TRADING ACTIVITIES
Incom• from non charltable trading activltles
Unrestrlcted
funds
2025
£000
Total
funds
2025
£000
Totsl
funds
2024
£000
Salas
592
592
667
TOTAL 2024
667
667
ANALYSIS OF EXPENDrruRE BY ACTIVITIES
Activities
undertaken
dlrȢtly
2025
£000
Support
¢osts
2025
£000
Total
funds
2025
£000
Total
fund5
2024
£ODO
Promotions, hires and Leaming & Participation
466
1,281
1.747
1,667
TOTAL 2024
446
1,221
1.667
ANALYSIS OF DIRECT COSTS
Promotions.
hir8s and
education
2025
£000
Total
funds
2025
£000
Total
funds
2024
£000
Marketing and box office
Artists. fees. prc*Jrammes and related items
122
344
122
344
102
344
466
466
446
TOTAL 2024
446
446
Page 20

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ANALYSIS OF EXPENDITURE BY ACTMTIES ICONTINUEDI
ANALYSIS OF SUPPORT COSTS
Promotlons.
hirès and
education
Total
funds
2025
£000
Totsl
lunds
2024
£000
2025
£000
Staff costs
Depfedatlon
Property costs
Legal, professional and consultsncy costs
Office costs
936
49
173
936
49
173
56
30
23
14
895
52
177
32
28
25
12
Bank charges
Auditors, remuneration
14
1.281
1.281
1.221
TOTAL 2024
1,221
1,221
Page 21

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
STAFF COSTS
Group
2025
£000
Group
2024
£000
Charlty
2025
£000
Charity
2024
£000
Wages and salarie5
Social security costs
Other pension costs
844
66
26
808
62
25
716
66
672
62
25
26
936
895
808
759
The average number of persons employed by the Charity duriThJ the year was as follows..
Group
2025
No.
Group
2024
Employees
60
60
The number of empk)yees wlM)se emrAoy88 b8n8fils {8xduding employer pension costs) exceeded
£60,000 was:
Group
2025
No.
Group
2024
No.
In the band £70.001- £80,000
The key management personnel of the Charity comprise the Tnjslees (who do nol receive any
remunerabon for their role as Trustees) and the Chief Executive, Finance Director and Operations
Director. The lolal amount of employee benefits lincludiro employer pension cor)Iributionsl recetV8d by
key management personnel for their service5 to the Chaiity was £198k12024'. £184kl.
TRUSTEES. REMUNERATION AND EXPENSES
During the year, no Trustees received any remuneration or other ben8fits12024- £NILI.
During the year ended 31 March 2025. no Trustee expenses have been incurred12024- £NIL).
TRUSTEES. INSURANCE
The Chaiity carries indemnity insurance cover both to protect il from loss arising from any neglect or
defaults of Sls Trustees, employees or 8gents, and to indemnify the Trustees and offiGers against the
conseqLFences of any neglect or default on their part. The annual premium in both 2025 and 2024 was
£1k.
10. TAXATION
No corporation lax has been provided for in these financial statements because the income of Ihe Charity
is within the exemption granted by Sects'on 505 of the Income ané Corporation Taxes Act 1988.
Page 22

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11. TANGIBLE FIXED ASSETS
GROUP AND CHARITY
Long-temi
leasehold FixtUTes and
property
fittings
£000
£000
Total
£000
COST OR VALUATION
Al l April 2024
Additions
1,142
10.636
539
(31)
534
Disposals
Transfers between classes
(311
{651
6$
Al 31 March 2025
10,093
1,051
11.144
DEPRECIATION
At 1 April 2024
Charge for the year
On disposals
879
49
131)
879
49
131)
At 31 March 2025
897
897
NET BOOKVALUE
At 31 March 2025
10,093
154
10.247
At 31 March 2024
9.494
263
9,757
The buikJin9 occupied by Sl George's BristcA is being leased al a peppercom rental of £10 per annum
from the Diocese of Bristol on a full-lenanl repairing leasg, which was granted lo St George's on 31
D9¢9mber 2012 for a period of 150 yaars.
Page 23

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AIARCH 2025
12. FIXED ASSET INVESTMENTS
PRINCIPAL SUBSIOIARIES
The following was a subsidiary undertaking of the Charily..
Name
Company
number
Reglstered office or prfncipal Holding
plac$ of business
SGB Enterprises Limited
04344449
Greal George Street. Off Park
Street, Bristol, BS1 5RR
100°
The linancial resLtlls of the subsidiary for the year were..
Nam8
Incorne
Expendlture
£000
Surplu$ fov
the year
£000
£000
SGB Enterpris8s Limited
$92
15591
13. STOCKS
Group
2025
£000
23
Group
2024
£000
Raw materials and consumables
29
14. DEBTORS
Group
2025
£000
Group
2024
£000
Charity
2025
£000
Charity
2024
£000
DUE IMTHIN ONE YE*R
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accwed income
41
28
65
17
37
69
16
45
45
87
117
132
159
Page 24

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
15. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
202S
£000
Group
2024
£000
Charity
2025
£000
Charity
2024
£000
Bank loans
Trade credilois
Other taxation and social security
Other creditors
Accruals and dgfgrred income
18
103
41
332
320
18
20
127
43
217
293
106
43
213
209
41
329
226
814
700
698
591
Group
2025
£000
Group
2024
£000
Charity
2025
£000
Charity
2024
£000
Dpfevred in¢om¢
Deferred income at 1 April
Resources deferred during the year
Amounts released from previous pertods
209
213
223
209
144
137
(144)
154
144
(2091
12231
11541
Défèrrèd Incamè at 31 March
213
209
137
144
Deferred income relates to deposits for gvgnts s¢hgdulgd to be held in 2025126.
16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Group
2025
£000
Group
2024
£000
Charity
2025
£000
Charity
2024
£000
Bank loans
380
396
380
396
The aggregate amount of liabilities payabl8 or repayable wholly or in part more than five y8ars aft8r the
reporting dale 15..
Group
2025
£000
Group
2024
£000
Charlty
2025
£000
Charity
2024
£000
Repayable by instalmenls
285
303
285
303
285
303
285
303
St George's 8rislol curwntly has Iwo 108ns secured by a floating charge over the prop8ty and asseis of
the Charity- One loan for £375k repayable over 20 years until 2039 at a fixed rate of interest of 4.405010
and one loan for £125k repayable over 20 years until 2039 at a variable rate of interest, currently 7.250/..
The balan￿S outstanding on these loans al 31 March 2025 were £297k and £101 k respectively.
Page 25

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
17. STATEMENT OF FUNDS
STATEMENT OF FUNDS- CURRENT YEAR
Balance at
31 March
2025
£000
Balance at 1
April 2024
£000
Transfers
inlout
£000
Income Expenditure
£000
£000
LIMIEST￿CTÉO FUNDS
DESIGNATED FUNDS
Remedial Capital Works Fund
Agency Fund
Fixed Asset Fund
496
145
(4961
{1451
742
(26)
716
641
126)
101
716
GENERAL FUNDS
Charity
334
1.837
11,831>
{1011
239
TOTAL UNRESTRICTEO FUNDS
975
1.837
11.8571
955
RESTRKTED FUNDS
Artistic and Leamiru &
Participation Projects Fund
Fixed Assets Fund
Remedial Capitsl Works Fund
Bursary Fund
Other Reslri¢ted Funds
70
8,920
38
142)
145)
66
260
(2601
9.135
191
9,065
234
1871
9,212
TOTAL OF FUNDS
10.040
2,071
{1,944)
10,167
Page 26

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 31 MARCH 2025
17. STATEMENT OF FUNDS {CONTINUEDI
RESTRICTED FUNDS
The Artistic and Leaming & P8rttcipalion Projects Fund comprises fvnds received from Trusts and
Sponsors, as well as Arts Council England towards Bristol Music Consortium activities and other Leaming
& ParticIpat￿n projècts.
The Fixed Assets Fund comprises the fund originally sel up for the work needed to develop the facility al
Sl George's Bristol and other donations received for fixed asset purposes. together with donalions
received from Trusts and Indiv￿￿alS towards the constnjdion of the new extension. The fund balance
represents the net book value of expenditu￿ that has been Gapilali58d, together with donaled assets,
mainly as leasehold property (note 111. The fund balan￿ is being reduced each year by the depreciation
charged on th8 assets, where appllcable.
The Remedi81 Capitsl Works Fund comprises funds received for the programme of remedial ca￿'tal
works planned for, and completed in the summer of 2024. On completion. these were subsequently
capitalised and a￿ shown within the fixed asset fund.
The 8ursary Fund represents funds re￿IVed foi the purpose of supporting the development of talented
young musicians.
The Other Restricted Fund relates lo donations received for the upgrading and refurbishing of external
areas of Sl Georges Bristol
VNRESTRICTED DESIGNATED FUNDS
The Remedial Capital Works Fund comprises funds ring-fenced for the programme of remedial capital
works planned for, and completed in the summer of 2024. On completion, these were subsequently
capitali5ed and are shown within lh8 fixed asset fund.
The Agency Fund represents income received and held on behalf of third parties.
Thè Fixed Assats Fund comprises those capital projects and purchases carried out to develop the facility
al Sl George's Bristol, and purchased through unreslricled funds.
UNRESTRICTED GENERAL FUNDS
Charity funds r8pr8S8nl the income that is received through donations, grants, fundraising and other
forms of income. to assist with the overall wnning of Sl George's Bristol.
Page 27

ST GEORGES BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
17. STATEMENT OF FUNDS (CONTINUED)
STATEMENT OF FUNDS- PRIOR YEAR
Balance at
31 March
2024
£000
Balan￿ at
1 April 2023
£000
Income Exp8ndilur8
£000
£000
UNRESTRICTED FUNDS
DESIGNATED FUNDS
Remedial Capital Works Fund
Agency Fund
500
145
141
496
145
645
141
GENERAL FUNDS
Charty
333
1.676
11.6751
334
TOTPL UNRESTRICTED FUNDS
978
1,676
{1,6791
975
RESTRICTED FUNOS
Artistic a￿1 Learning & Participalit￿ Projects
Fund
Fixed Assets Fund
Remgdial Capital Works Fund
Bursary Fund
122
8.947
81
108
1601
1271
{121
70
8,920
69
9.156
108
1199)
9,065
TOT￿ OF FVNOS
10.134
1,784
{1,8781
10.040
Page 28

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
Unrestricted
funds
2025
£000
Restricted
funds
2025
£000
Totsl
funds
2025
£000
Tangible fixed assets
CuTrent assets
Creditrn due within one year
Creditors dug in more than one year
716
1,037
17981
9,531
77
10.247
1,114
1814)
1380)
116)
13801
TOTAL
955
9,212
10.167
ANALYSIS OF NET ASSETS BETWIEEN FUNDS - PRIOR YEAR
Unrestrided
funds
2024
£000
Restricted
funds
2024
£000
Tolal
funds
2024
£000
Tangible fixed 8ssets
Current assets
Creditors due within ong year
Creditors due in more than one year
202
9.555
9,757
1.379
17LNJ)
{3961
1,379
(6061
(94)
{3961
TOTAL
975
9,065
10,040
RECONCILIATION OF NET MOVEMEKf IN FUNDS TO NET CASH FLOW FROM OPERATING
ACTIVITIES
19.
Group
2025
£000
Group
2024
£000
Net Inc￿Me1eXpendl1ur8 for the year las per Ststemenl of Financial
Activiliesl
127
1941
JLISTMENTS FOR:
Depreciation charges
Decrease in stocks
Decrease in debtors
Increase in creditors
49
52
30
129
116
28
NETCASH PROWDED BY OPERATING ACTivmES
328
115
Page 29

ST GEORGE'S BRISTOL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
20. ANALYSIS OF CASH AND CASH EQUIVALENTS
Group
2025
£000
Group
2024
£000
Cash al bank and in hand
1.004
1,233
TOTAL CASH ANO CASH EQUWALENTS
1.004
1.233
21. ANALYSIS OF CHANGES IN NET DEBT
At 1 April
2024 Cash flows
£000
At 31 March
2025
£000
£th)o
1,233
1211
1396)
Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
1229)
1,004
{17)
1380)
16
816
1209}
607
22. RELATED PARTY TRANSACTIOMS
In addition to their time. Trustees gave donations lotalling £54k12024.. £9k} to Sl George's Bristol.
During the year. purchases lotalling £584.01812024.' £Nil) were made from CI8V8r Spac8 Constructi(*)
Limited, a Company owned by one of the Trustees.
In order to manag8 this conffict of interest. the Board pul in place a numb8r of m88sures.'
1. The ￿nflIcted Iruslee reeused themselves from all Board discussions regarding the tendering
process and any associated financial and ¢ontraclu81 discussions in connection with the roof works.
2. A competitive tender process was run. overseèn by a suitably qualified trustee supported by exlemal
consultants there relèvant, and ihe tender award was ratified by the full Board, less the conflicted
Iruslee.
3. An appropriately qualifi8d steering group was estsblished to oversee the project comprislng
appropriatety experiencod Iruslees, management and Clever Space representatlves.
As noted in the Chair Statement eadier in the Annual Report. the project was completed to time despite
some expansion of %ope and came in slighlty below the budgeted Cost.
Page 30