Charity Yegists'atloii numbeA': 197852 THE LONDON CHAMBER ORCHESTRA TRUST Tru$tees' aJ)nuAI report and finaneial stAtements For the year ended 30 June 2024
The Lolldon Ch8mber Orchestra Trust Contents Referenee and athiinistrativ¢ details Report of tl)e TrusTres Ind¢pettdent Exaniiner's Report Ststement of Fillancial Actlvities alance Sheet Notes to tli¢ Finatheial statenietS 7-11
The London Chamber Orehestra Trust Reference And Administrative detalls LegAI Status Tlie Loi)don Chanibcr Oirhesti'a Trllst (Lco'fi was established under a Trust Deed in 1987 and is a iegistered charity undei. i)uinbei' 297852. Tlie accounts coinply witl) tlje Trust Deed, the Stateinent of Recoinmended Practice"AecounLii)g and Repoi'ting by Cl1.1ti' alld tl)e a)arities Ael 2011. Trustees Martin Childs (appoint 22 Februaiy 2023) Emily Husband {api)oillted 15 Novembei. 2023 ond iesigned 16 FebiarY 2024} Dr Leah Collett Broad {appointed IS Noveniber 2023 aiid resigned 16 FebIary 2024) Di J¢ssic& Walkei. {appoinled 15 Noveinber 2023 resigtted 16 Febiary 2024) Paulctte Bayley {&ppoinled 15 Nov¢mbei' 2023 and i'¢sigtted 16 FebLUgry 2024) Petei. Jainison (Yesigned 16 Febrnai'y 2024) The Reveiand J N Wat¢s OBE (r¢signed 16 Febiuary 20241 Trustee appointments post year ended 30tli Jun¢ 2024 Mi¢l)ael Tiiniiiis- Cliair (appointed 5 Novembei 2(J24) Giorgi Kbarazisl)vili1oppoinled l Novel1)b. 2024) Victoi'ia Aspinall (appoiiitcd 25 Maicli 2025) Regi$tei'ed Offlce l Gr¢¢n Way Swaffliain Norfolk PE37 7FD ManF&gement of the [ndOn Chamber Orehestl'4 OV'S181)t nianagement of tlie activities of the Lolldoii Cbambei. Oi'chesti'a {LCO) was inanaged by Londo Chainbu. Society Liinited (LCSL), l Gi'een Way> SWaaM PE37 7FD. The day-Ea-day activities of the London Cliaillbe¥ 0heStra wei'e, Inanaged by London Cl)ainbei' Society Limited ILCSLI. Tliis Company was dissolved 18 Febluv 2025. Bankei'5 Barclays Bank PLC 43 Higli Street Sutton Suri'ey SMII IDR Independent examiNei' Gavin fvI&mis Clensliaw Minns Ltd 24 Mai'ket Place Swaffljain Noi'folk PE37 7QH
The London ChAmber Oi'chestra Tvust REPORI. OF THE TRUSTEES The TtteS present tlieii. report tr>gether witli tlie fs1)ancial stateinents for tlie year ended 30 Jun¢ 2024. OBJEcfivES ATrID ACTIVITIEI S Objective LCOT'S niain objective 18 to promote ¢l)amber tnusic and muslc educaiion tl)rough tlic Londot) Cliamber Or¢liestra (LCO). As noted above, niallageineiit of tlie daY-daY activities of LCO is uada'laken by LCSL. Resources spcnt by LCOT ill fiirtl)eran¢e of tlie cor¢ W.k bnd peifoi'mance of LCO amounted to £157,725 of the tot&1 olltgoing resources in tlie yeay (2023-£120,715). FhlIe bentfit Tlie tL'UStees have taken account of Charity Commissitsn £uidattce on public bBnefit. By supporting tlie actLViti¢s of LCO, tile Trust delivers pubjic bonefit tl)i'oiigh tli¢ pi'eseiitatioii of London conc¢rts byLCO. Aetivitles gnd Mfisslon LCO'S aim is to present orcliestixl inusic in a w&y lat enables the audience to discover soinething fi'esl) and vital in tlic inusic, whetl)¢r tliey are a first-tinie libt¥rnei' oi. an experienced afscionid(). Kcy to this is al'listic excellence, but tliat is inatchtd by a destiE to make the audietsce feel included lli tlie perforiiiance. LCO also r¢cognises th¢ itnportant role musie can play in education. LCO Music Junction biings together young people fiyim vciy vai'led baekgrouiids and &i]ns lu i?i'oinote eonfideiTrc¢, nurLui'e self-cstccni and encow'age paiticipanls to develop rcspect for themselves and eiupathy foi. odiers widiin tl)eir widci. comilliinities. Tliis is achieved thJDugli creativ¢ aTLd participatory uSiC rnaking. AREI FLKCTION ON ACHIEVEMENT AND PERVORMANC On 19 Marcli 2024 tlie Cliief Executive Officei. of Londoj) Chainber Society Liillited- Mr8 Jocelyn LightFooi r¢sigiJed, Fi'otn that day ftsiward all activitics and n)8nagement of tlie ¢otnpany was suspended. FUNDRAISING AND SUPPORT LCOT raised £143,588 during the 2023124 season. Th¢ LCOT wislies to £wkllowledEe tlie sui)iioi't of tlie followsAg Tsts ai)d Foundations over the season.. tile Jokn) Lyons aiarity, tlie Mai'¢lius Trnst aiid tlie Foyle Foundation. We must also give tharnks lo our loyal'faniily" of individual suppoitei's, many of wliojn liave provided invaluabl¢ financial and other suppoil to LCO ovei. niany years. FINANCIAL REVIEW During tlie yc81' LCOT bas siipported tlie work of LCO, including its cominunity and ediication pi'ojtcl LCO Music Juiiction, as w¢ll as tlieii. 0i11ine concert s&ies fiD111 CadogaN Hall and St. Jolin Sinith Squai'e.
Oocusiqn Envelope ID.. E6F359DF-DOF6-43E4-B91E-CD21A1295981 The London Chambei. Orthestrr4 Trllst lieport of the Trustees cont. The COMpY is etstitled to claiin gift aid from K M R£v¢nue & Customs foi don&tioJs rtceivtd fro individuals. The last claim made was for dollations Yeceived up until 26th JurLe 2019 Reserv policy LLOT has hi8tori¢Ally raised fimds for 5pecLfLe causes andnot committed Itself to grants prioi to raising sllfficiettt income. Accoydingly, the Trllste6E' policy h)s been to rct&An suffickellt rcserves to illeet COLllmitted giants and ongoing adtninistrotion expenses. Given the short time fratD¢ for holding funds, the Trustee8 have kept these funds on depo$its gnd h>v¢ not invcsted these funds in fixed 1Come seGilfLti¢s of equity itsvtstments. STRUCTURE, GOVERNANCE AND MANAGEfkffjNT LCOT 18 all utLineOfPOi'8tsd ch'Ity Dumber 297852 c¥eatrd by aNI owatinguder tb¢ t¢mis of 8TLllStDeed dated l October 1987. LCOT bas no employees, Attd the LCO'S day to day activities are undertaken by London Chamb. Society Ltd, whRcli opei2te8 as 'LorLdon Chwber Oi'chcstra., Tli¢se &ctLVlti¢s include n{fraising and comTrieTcial activities in COJllkecLioo with the deiivery of Goneert performanct5 alld the delivcry of LCO'S LCO Music Jwietion outreach pi'agramtne. REI SPONSIBJLITIES OF THE TRUSTKES The Trustees are responsible foi. pillg the Atttyual R6POrt Fin#tL¢ial Stat¢m¢nts accoA'daJce witlL applicable law 8ndUrLit6d Kingdom AccouDt%ng Stsndgrds Iunited Kingdom genlY accepkd ar¢ountillg practice). Ch8rity law requires the TnleeS to prq)arc fmJtstiaL stat¢tll¢llts fot each fu]cial yearwhich SILOW a true gnd fau. vx¢w of the st&te of affaty5 ufthe ch&iity as at thc cnd of the fInaCIal y¢ar and its fclaI activities for thAt year. fn pt¢p&ring thobe fin8ncid statements, th¢ Trnstees ate requii'ed to.. Make judgements and &%timatcs thgt are rcspoilsiblc and prnd6ftt Select suitable 8¢CQillltihe policics apply them coTrsistently Observ¢ th£ methods and principles in the Chgrities SORP State whetb¢i applicable UK Accountityg Stat]dards h&ve b¢eii followed, sllbject to any materi&l deparr disclosed &ttd explained in the financial statemellt5 Piepare tbe fthattcial statements on tbe going eoncern basisullle8s At És inappropriate to ptgsume that the Gharitywill continue in opetatiOtvJl existcnctt The Tiustee8 ar¢ rcsponsible far keepillg proptt accounting i'e¢ords whirh disclose witb Leasonable &ccuraGy at any tijne Lhe fiftan¢ial posktion of the charity to enable them to ensure tb&t tbe financial Statllents oomply with tbe ch]tieS Acts 2011. They are &lso Iespo1ibIt for safeguarding the assets of th¢ clwity attdknenc¢ for t2kittE reasonable steps for the prevention and detectiou Df fraud and other irregulaLities. By order of tbe TSte¢S Do¢m$edb. nL CknLIs 551fot*S774AL. Maltin Childs (On behalf of the Board 0£TsteCg) 29-04-2025 Dat¢
The London Chambei, Orchesti'a Ti'ust Iiidepeiident Examiner>s Report to the Ti'ustees of the London Chamber Orchestra Trust l i'epoi'l on tlie aCcolt5 of The London Ch8mber Or¢be&ts'a Twst for the year ended 30 June 2024. which are set out on pages 5-11. Tl)is iepoLt is inade solely to the tsustscs, as a body> in acetsrdance wffitli irgulations Ihade under S¢ction 154 of tlie Cl)arities Act 2011. My examination lias be¢n undei'lakell so tliat l I£1)t st&te to tlie tsllstees tliose inatters I aill reouii'ed LO slat¢ to tliein in an indcpendent exatninei s report and for no othei. purpose. To tlie fiillesl extent pei'mitted bylaw, I do not accept OL assume i'esponsibility to aJLyOli¢ other t118n tlie Iivstees as a body foi. my independent exaiiiinaLiai), for this report, or for tlie opiiiions I have foiined. Rcsponsibilitits and b8SI5 of i'eport As tli¢ ¢liai'ity's livstees yoii are r¢spollsibl¢ foi. tl)e pi'eparation of tlie PLccounts ID accordanc¢ widi tl)e reqiiireiJ)ents of tli¢ Cliaritics Aet 2011 {'tlie Aot,). l i'epoit in my i'esp¢ct of my exainination of tlie ehaTity'S accounts carried out under section 145 of the Act and in cai'rying out niy exalliinatioii I have followed all tlie applieable Directions given by the Charily Commission under section 145(5)Ib) of the Act. Indepcndent examlnei $ $t*tement I have ¢onipleted my txainination. I collfjritt diat no tittteiial inatters liaye cotne to niy attention itt connection with the Cxaminauoii giving Ine c&use to beli¢ve tliat in any material i'especi.. accounting i'ecoids wci'e not kcpt in i'esp¢ct of the cliai'ity as required by section 130 of die Acts.. or tlie accounts do not accoi'd witli those records.. or tlic accounts do not comrtrly with tlie applicable I'equireinents conceming the fomi aiid content of accounts set out in tlic C.l)aritics (Accowits and Repoils) Regulalions 2008 otller thall ally requirement tliat the aceowits give a 'true atsd fairview, whicli is not a iwattei. considered as part of the independent exanilnati0. On 19 Marcl) 2024, tli¢ Chief Exe¢utivt officei. of The IA)ndon ChambeL Soci¢ty Lid resigiied. All activities and Inanageiiient of d)e coillpaiiy weLe SLtspended fro then on. Gavin Minns FCA- aarted Accountsnt 29 rtfAIL Zo2 S- Date
The Loiidon Chamber Orchestra Ti'ust Stat¢ment of FiirtAncithl Activities Year Ended 30 June 2024 2024 2023 Unresti'S¢led Funds Resti'icted funds Tot21 fuNd$ Total funds Note In¢ome Doi)ation6 46,206 97,382 143,588 134,669 14 Inv¢stnients Total Ineome 46,215 143,597 134,683 Expertditure: Chai'itable activities OUier costs 60,343 840 97,382 157,725 840 120,715 1,987 Ex¢¢ptional it¢n)s I'otAI Expendlture 61,183 158 565 171741 Net Incomel(expcndltui'e) Transf8 between funds (14,968) (14.968) (37,058) Net movement in Funds (14,968) (14,968) (37,058) Reconcillation of Funds Fullds bi'ougbt forwai Flld$ carried forivards 718 8,701 Tliere was no lliconie or expenditure In either of the above years otli¢Y than tl)ose shown in die statcment above.
DocLs¥ign Envelope ID.. E6F380DF-DOFÈ.43EB91E-CD21A1295981 The London Ch&)llber OA'chesti'o Bolance Sheet as at 30 June 2024 2024 2023 Note Current Assets Debtors Cash atballk 10,621 28,547 Creditors: Amouots fallirtg due within olle yeY4r AcciThls Net Currcllt Assets Repre8CJlted by.. Restrictcd futsd5 Unrestricted fi]lld5 8.701 23,669 Tot Charity fullds Approved by tbe board of truBte¢s alld sigtLed oll its behalf by rocuSW&dby.' BI10165771AA-. Martin Child$ (On bGh&lf of t]Le twstee5 29-04-2025 Date
The IA>iidon Chamber Orehe5ti'* Trust Notes to the Financlal Statements foy the Yeay Ei nded 30 June 2024 l.Accountlng policl a) Basls of prepAI'atAon Tlie financial slateni¢nts ltsvc been wepared under the histoi'ieal Cost convention and in accoi'daiiee witl) tlie second edition of the Chai'ities Staleinent of Recol1)elided Practise issued in OLtobei' 2019, tlie Finallcial RepoJ'tit)g stand[ applicable in tl?e UK and tlie Republic ofirelattd IFRS 102) and tlie Cbarities Act 2011. Tlie Cliai'ity IIES applied Update Bulletin l anddoes hot includc 2 eash flow stateiiient on the grounds tliat li is applyii)E FKS 102 Section IA. The twst constitutes a public benefit entity as defined by FRS 102. bl Ineotnc Voluntaiy inconie including donations, gifts aiid leE&cies and grattts tliatpi'ovide coi'¢ funding oi. are of a geneA21 nature al'e recognised wliere tliere is eiitiÉlenien4 cei'tainry of receipt attd thc ainount can be nieasui'¢d witii sufficient reliability. Sucl) sncome is only deferi'ed wliell: I'h¢ doiioi sp¢cifies tliat the or donation n)ust only be used in future accounting periods.. oi. TELe doiioi. lias iniposed condtuons wliicli Jnust be inet before tlie charity has unconditional entitlThent. lllvestment in¢ome is i'¢cogtsised on a i'eceivable basis. Incoine fLbln cliaritable activities includes income I'eceiv¢d under contact oi. where entidement to £rant finding is subject to spccific performance conditions 18 reeoyiised as eatned {a velatcd goods or seivices are provided). Gianl incomt included iii diis catcgoiyprovides fuiiding to SuppUttpfOrtllxrtce activities and is recognisedwliere tbei'e is tntiilenient, eeLlaii)ty of receipt and Ibe ajiiount can be iiiea&ured with 8uffLcient reliabiliry. Income is defei'red wl)ert'. Adrtiissioi) fee5 or peifornilnee related ale received in advance of tbe perfoi'mallces or event to wliicb they i'¢late. e) Volunteei's alld donated 5erviees rrtcllities The value of services pi'ovided by volunteers who ossi8t at con¢ci'ts is not incorporated Ento these finallcial SEatenieiits. d) Expenditure Liabilities 8Le recogniged as expertditu¥e as soon as tliere is a legal oi constr¢i¢tive obligatioii eomi)]itting tlic chai'ity to tliat exp¢ndittire, it is probable tliat settlementwill bE required, and the amount of the obllgatiott ean be illeasurtd reliably. All expenditui'e is acCouted foi. on an aCeal$ b2sis. All expenses including Support costs and govematice costs al'e allocated or apportion¢d to the applicable expendire headsiigs. W])erc donations ale received for a particular pi'oject tliey ar¢ alloeated to a resti'icted fund and expetsdli'e incui'red is applied against tlie futtd.
The Loiidon Ch*mbei' Orchestra Ti'ust Notes to the FlnanciAI Statements for the year end¢d 30 2024 cont. 2. Donations Rteeived 2024 2023 UNiiESTRicfED DONAT10Tr4S Bei)efa¢tors Otl)ei- dottations 46,206 43,L76 Rfi.STRICTlI D DONATIONS Promotlon of London c.hamber Oi'chesti'a Individual donatiolls 97,382 91,493 Total DonatiOJLS 143 88 134 669
The London Chamber Oi'chesti'A Trust Notes to the Finaneial Statements for the year ended 30 June 2024 Cont. 3. InvestmeAt Income 2024 2023 Bank Tttterest i'cceivable 14 14 4. Chai4table Aetkvilies 2024 2023 Ti'ftnsfers to Tlie London c1iainb. Oidiestra Transf. to Tl)ree Woilds LiJllit¢d 102,725 55,000 120,715 57 725 120 715 Tiii'ee Worlds Limited looks afta tli¢ perfoimtiLg riglits of Tile London Cliatnber Orclicsti'a S. Othcr Costs 2024 2023 Ind¢pelldent examiner's f¢es Sundi'ies 840 1,938 49 840 No rcniuneration or exp¢i)ses were paid to Inte¢S 6. Debtors 2024 2023 Loiidon Clianiber Society Limited Recovei'able taxation fi'om gift aid Wi'itten off as exceptioii&l item 44,882 4,157 (49,039) All debtors are due withitt on¢ year
The London Chamber Oi'chestra Ti'ust Notes to th¢ Fln&ncial stateMets for the ye&r ended 30 June 2024 cont. 7a. RecoThci]i#tion of Movement Restricted funds B21artee tlJllly 2Q23 Balxnce at Transfer$ 30 June 2024 Incoming Resoui'ees Ovtgoing Resollt'oes Pi'omotion of Loiidon Cliainber Orchestra 97,382 {97,382) 97,382 197,382) 7b. Reconciliation of Movement lil Rests'Éeted funds- prloy year Balance at l July 2022 IlalAiiee At Trllnsfei% 3u.lune Incoming Resources Oiitgoing Resoui'ees 2023 Proiiiotion of London Cliamber Oi'cliestra Jolin Lyon Chai'ity 11,340 763 91,493 {102,833) <763) 12,103 91,493 (103,5961 io
The Loiidon Chamber Oi'chestra Ti'ust Notes to the FIManci81 StAtements for the yeai. endeit 30 June 2024 cortL 8a. Reconclllatlon of Movement in Unrestricted furtds Bilance At l July 2023 BAlance at Ex£eptlonal JO JuAe Items 2024 Incoming Re8ouiYes Outgoing Resources Unresti'ieied Funds 23,669 46,215 8b. RecoR¢iliotion of Moyemetst in Uni'ests'icted futtd5- prlor year Balance at l July 2022 Balance at 30 June 2023 Ineomlng Resources OutgoSng R¢sourees Transfe Ufftll'estricted Funds 19,106 49,039 9a. Analysls of net assets between fund$ Unresti'leted Resti'l¢ted funds funds Total Funds Cui'tent assets Cui'i'ent liabilities Toial net assets 10,621 10,621 9b. Analysis of net 2s#eti between fund5- piior ye&i' Unrestrfieted Restricted funds funds Total Cui'itnt assets Cw'i'ent liabilities 28.547 4,878 28,547 Total Ii¢t assets 10. Related Parties Maitin Cliilds is a ts$teC of Tlie Londoi) Chnber Oi'ch¢stsa Tiust. Dut'ing the year to 30 June 2024 a iyaiisfer of £55,000 was inade by die tIt to Tlll'ee Woylds LEinited. Martin Cliilds is sole directOL of Tliree Worlds Limited. li