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2023-08-31-accounts

Company Registration No. 02162383 (England and Wales) Charity No. 298389

THE ROYAL CHORAL SOCIETY

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

31 AUGUST 2023

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

CONTENTS Page
Reference and administrative information 2
Trustees’ report 3 – 7
Independent examiner’s report 8
Financial Statements for the year ended 31 August 2022 9 – 16
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 11
Accounting policies 12 – 14
Notes to the accounts 14 – 16

1

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE INFORMATION

Office 507 Queens Quay
58 Upper Thames Street
London
EC4V 3EH
Secretary Mrs A Cattermole
Charity Registration No. 298389
Company Registration No. 02162383
Trustees Mr P Dart (Chairman)
Mr R J Reeves (General Manager)
Mrs A Cattermole (Company Secretary)
Mr S Strudley
Mr K J Skinner
Mr A McGowan
Ms C R Young MBE (Appointed 11 April 2024)
Ms H Chung-Yun Li (Appointed 11 April 2024)
Mr J A Coe (Appointed 22 April 2024)
Director of Music Dr R Cooke
Independent Examiner Gilbert Holbourn FCA, FCCA, DChA
1 Upper Bridge Street
Wye
Kent
TN25 5AF
Bankers Cooperative Bank
PO Box 250
Delft House
Southway
Skelmersdale
WN8 6NY

2

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 August 2023

The Trustees, who are also directors under company law, present their annual report and the financial statements of the Society for the year ended 31 August 2023.

The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

Objectives and activities

The principal activity of the Society is to provide musical education to members of the choir and the wider public through the preparation for and participation in musical concerts. The objects for which the Society is registered, according to the Memorandum and Articles of Association updated in 2023, are the promotion, maintenance, improvement and advancement of education for the benefit of the public, particularly by the encouragement of the art of choral music in all its aspects by teaching musical works and the presentation of public choral concerts.

It is the Society’s policy to pursue the highest possible musical standards, achieving a high quality of performance through rehearsal, music direction and membership commitment, supporting continued professional relationships with orchestras, promoters, concert venues and other third parties, thereby furthering the Society’s objectives. No material changes in policy have occurred since the last report. The Trustees confirm that they referred to the guidance contained in the Charity Commission’s revised general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning the future activities. The Trustees consider the current activities as detailed in this report deliver public benefit.

Achievements and performance

This report covers September 2022 to August 2023 and covers the second half of the choir’s 150[th] Anniversary celebrations.

The year began with a performance of Carl Orff’s ever popular work Carmina Burana to a full house at the Royal Albert Hall. The choir joined with the Brighton Festival Chorus and Goldsmith’s Choral Union and were accompanied by the Royal Philharmonic Orchestra and conducted by James Morgan.

In October, there were two firsts for the choir when they were invited to perform at Croydon’s Fairfield Halls with the London Mozart Players. Joined by the Croydon Philharmonic Choir and conducted by Richard Cooke, the choirs sang Hiawatha’s Wedding Feast composed by Samuel Coleridge-Taylor, a work which the RCS made popular in the 1920s and 1930s with two-week runs at the Royal Albert Hall. In addition to this, they also sang Elgar’s The Spirit of the Lord .

Christmas is always a favourite time of year for the choir, and it was with much pleasure that the Royal Philharmonic Orchestra and trumpeters of the Welsh Guards joined the full choir for Christmas with the Royal Choral Society . A joyful programme of works including some excerpts from Messiah for which the choir was joined by soprano Louise Adler.

Now a regular commitment, the choir performed with the Royal Philharmonic Orchestra, conducted by Richard Cooke, in 17 gloriously uplifting concerts for the Carols at the Royal Albert Hall series of concerts. Upwards of 85,000 people attended these hugely popular concerts and much fun and enjoyment was had by audience and choir alike, with formal concert attire adorned with tinsel and fairy lights and other Christmas themed fancy dress in the 2[nd] half.

On 7[th] April, the choir was back at the Royal Albert Hall for its 147[th] Good Friday performance of Handel’s Messiah, to an almost full house, with the Royal Philharmonic Orchestra, Richard Cooke conducting and a talented group of soloists.

One month later the choir concluded its 150[th] Anniversary Season and returned to the Royal Albert Hall, its spiritual home, with a spectacular concert on the weekend of the coronation of King Charles III. The choir was delighted that their President, the Duke of Kent, accepted an invitation to attend the concert. Accompanied by the Royal Philharmonic Orchestra, conducted by Richard Cooke and presented by author and broadcaster Zeb Soanes, the concert was called a Coronation Celebration!, and indeed it was. The music reflected the history of the RCS featuring work by many of the composers who had conducted the choir including Elgar, Verdi and Dvořák and other works by composers whose work the choir was associated with such as Handel, Holst, Parry and Coleridge-Taylor. The concert ended with the audience participating in singing Parry’s I Was Glad , reflecting the previous day’s coronation. It was a fitting tribute both to the new King and as a celebration of the choir’s 150[th] Anniversary.

The summer concert was a more intimate affair performed to an audience of mainly family and friends, at St Giles Cripplegate Church in the Barbian. Conducted by Richard Cooke and masterfully accompanied on two organs, to the delight of the choir, by their accompanist Richard Pearce, the concert featured two settings of the Gloria – by Poulenc and Vivaldi. On a gloriously sunny day in July, it was an appropriate end to the 150[th] Anniversary season and the choir’s year of concerts.

3

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 August 2023 (continued)

The choir membership is drawn largely from people who either live, work or have worked in Greater London and the Home Counties although there is a significant minority who live as far afield as Winchester, Salisbury, Lincolnshire, Cambridgeshire and Norwich. There is a considerable turnover of members as people move or change their work or lifestyles, but the membership of the choir is diverse, with many members from non-British nations. This year saw open rehearsals and auditions for new members resume following a hiatus during Covid and the aftermath. The choir membership numbered around 190 members at the end of the season.

The Trustees would again like to place on record their appreciation for the enthusiasm, encouragement and sheer professionalism shown by the Director of Music, Richard Cooke. In addition, we are most grateful to and fortunate in our principal accompanist, Richard Pearce who assists Richard Cooke so ably. The very considerable involvement and activities by members and friends, including the work of the music library, membership, concert management, ticketing, accounting, and other administrative matters is also noted and appreciated.

Financial review and future plans

Audiences began to return in significant numbers during this financial year following the Covid-19 pandemic. A relatively full program of well attended concerts including own-promotions as well as invitations from other promotors including the Royal Albert Hall at Christmas allowed the Society to generate a surplus on unrestricted funds of £39,811 (2022 £16,838)

Fund raising towards our 150[th] anniversary appeal continued during the year, with a further £8,535 of donations, adding to £87,202 brought forward from previous years. Donations to the appeal therefore total £95,737. The Coronation Celebration! was the final commemorative event of the 150[th] season and the surplus of £32,228 from the concert was applied to the 150[th] anniversary appeal fund, which therefore increased from an opening balance of £65,139 at 1 September 2022, to £105,902 at 31 August 2023.

The Financial Statements on pages 9 to 16 set out the results for the past year in detail.

The Society generated net income of £80,574 (2022 £63,615) on combined unrestricted and restricted funds during the year. Although financial planning continues to be a key area of focus for the Board and Management committee, the level of reserves carried forward at 1 September 2023 is sufficient such that the Trustees do not have any material concerns about the charity’s ability to continue as a going concern. Indeed this level of reserves provides a financial foundation for the Society to be ambitious in its promotion of choral singing as it embarks on the next 150 years of its history.

4

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 August 2023 (continued)

Structure, governance, and management

The charity number, principal addresses and details of professional advisers are set out in the administrative information at the front of the report and accounts.

The Society is a company limited by guarantee, registered in England and Wales, and is governed by the Memorandum and Articles of Association.

The Memorandum and Articles of Association of the company were updated during the year and now form the governing document, dated 20 April 2023.

The Society is controlled by a Board of Directors (Trustees) which delegates day to day operations to the Management Committee. The Board reserves to itself powers of appointment of the Music Director and the General Manager and their remuneration where appropriate. It also retains responsibility for financial control and reporting and the Trustees’ report and financial statements. The Board meets regularly during the year with attendance on some occasions by the Music Director and members of the Executive Committee. The Board retains control of all statutory matters including the Charity Commission and Registrar of Companies and oversees risk management.

The Board, at the present time, comprises six directors (Trustees), of whom four are active members of the choir and two are external board members.

The administration of the choir is currently managed by the aforementioned Management Committee which comprises the General Manager, the Finance Director, the Music Director, the Marketing and Communications officer, the Company Secretary, the Membership Secretary, the Concert Manager and one other. The choir administration also benefits from the activities of the voice representatives, and other choir members who undertake many activities including librarian, new members, ticketing and other administrative and organisational tasks that are associated with running a large and successful choir.

5

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 August 2023 (continued)

Trustees

The Trustees acting during the year to 31 August 2023 were:

Mr P Dart (Chairman) Mr R J Reeves (General manager) Mrs A Cattermole (Company Secretary) Ms K Bevington (Resigned 12 October 2023) Mr N Digance (Resigned 25 January 2024) Ms S Mansfield (Resigned 20 April 2023) Mrs K Porter (Resigned 25 January 2024) Mr S Strudley Mr K J Skinner (Appointed 1 September 2022) Mr A McGowan (Appointed 6 July 2023)

Recruitment of new Trustees

Board members are typically volunteers from the choir. The Board then considers each person to determine their suitability to join. The recruitment of external directors has traditionally been through existing contacts with Board members or through professional advisers.

Trustees’ responsibilities

The Trustees (who are also directors of the Royal Choral Society for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company and of the resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable company’s transactions and to disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees’ Report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The Trustees met four times in the year, three times by video conference and once in-person, and reviewed the management accounts for the relevant period together with budgets, concert costings and other financial information. The Trustees judge that the charity is a going concern and for this reason the going concern basis of the preparation for the financial statements is considered valid.

6

ROYAL CHORAL SOCIETY {A company limited by guaranteel TRUSTEES, REPORT FOR THE YEAR ENDED 31 August 2023 l¢ontinuedl Risk management and un¢ertainties Under norrnal circurllslance5 the charity is reasonably uncomplicated and the exposure to risk is limited. The Board h85 considered possible risks and is confident that there are adequate procedures and safeguards In plats tts mitlgate any risks that might have any significant adverse finanaal, management or reputational cons8quèness but rèVI￿S and updatès annually its risk management proCedU￿S and assgssmenl whiGh are Gonsolidaled in 8 Risk Register. This report was approvèd by th8 Board on 30 May 2024 and signed by Mrs A Cattemiole, Company Secrètary

ROYAL CHORAL SOCIETY IA company Iimiied by guarantee) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES AND MEMBERS FOR THE YEAR ENDED 31 August 2023 I report 10 th& Trusiees on my examinaiion of Ihe accounls of The Royal Choral Sociely lor the yaar 8n(Jed 31 August 2023. Respective Responsibilities of Trustees and examiner The Trusiees (who are a150 Ihe directors of the company for the purposes of company lawl are responsible for the preparalion of the accoun15. The Trustees consider Ihal an audit is not required for this ye8r under section 144121 of the Charities Act 2D11 Ilhe 2011 Acll and Ih818n independent ex8min81ion is needed. l 8m qualified 10 undertake the exarniinalion by being a qualified member of ThÈ Instiiuie of Chartered A¢counlanls in Englgnd and Wales having satisfied tnysebf that the Charity Is not subiecl lo audit under cotnpany18w and Is eligible for Indepen(Jenl eyaminalion, examine the accounts undef sec.lion 145 of Ihe 2011 Act.. lo follow the prctedures laid down In the general Directions given by the Charity Commission under section 14515llbl of the 2011 Act, and 10 stale whether particular matters have come to my allenlion. Basis of independent exzmlner's report y ex8minaiion was camed out In accordance with the general Direction5 giveii by Ihe Charity Cofflmission. An examination includes 2 review ol the accounling fecords kepl tiy ihe Cliarily and 3 coniparisijll ol Ilie accDuiils preseiiled willi those recnrds. 11 also IncludÈs considÈrHlion <iny un115uJI Ilerns or d15closure5 In the Jccounis, and seeking eKplanalions from you as Irusiees GonTrming any such Inaiiers. The procedures uiidenakeii do i)ol provi(.e all Ilie evideiice that would be required In ail audil and consequ8nlly no opinion is given as lo whether the aceounis present a'irue and lair view. and Ihè report Is Iimiied 10 those fflallers sel out in the slaiemeni below Independent examinerfs statement In conn8clion with my ex8min81ion, no mailer has come 10 my aiienlion. 111 which give5 m8 reasonabl8 cause lo believe Ihal in any maleri81 respect Ihe requirenienlg. lo keep accouniing rÈcords 111 2CtordJn¢e with se¢iioTI 386 of Ihe Conipa¥iies A¢1 2006, and lo prepare accounts wliich accord wiiti Ilie accoui)Iiiig reLurds. coinply viilli Ilie accouniiiig requir&menls ol section 396 of the Companies Acl 2006 an<J with the melhocjs and principles of Accounling and Reporting by Ch3rilies. Slalemeni of Recommended Practice ISORPI applicable 10 chaniies preparing their atcounls In 8ccordance Wllh the Financial Reporting Staiidard appli￿ble lo Ihe Uniled Kingdom and RepU￿1C of Ireland IFRS 1021 have nol been met.. or 121 lo which, in my opinion. 311enlion should be drawn in order lo enable a proper understanding of Ihe *counls lo be reached. Gilbert Holbourn FCA, FCCA. DChA 1 Upper 8ndge Street Wye Keni TN25 SAF Dale" 30 fvlay 2024

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 August 2023

Note
Income and endowments from:
Voluntary income
2
Activities for generating funds
3
Investment income
Total income and endowments
Expenditure on:
Costs of generating voluntary
income
4
Charitable activities
5
Total expenditure
Net income/ (expenditure)
Realised loss on sale of
investments
6
Unrealised (loss) on investments
6
Net movement in funds for the
year
Balance brought forward at 1
September
General funds carried forward at
31 August
9		 2023
£
Unrestricted
Funds
2023
£
Restricted
Funds
2023
£
Total
Funds
49,324
8,535
57,859
161,930
105,590
267,520
3,252
-
3,252
214,506
114,125
328,631
(30,177)
-
(30,177)
(144,518)
(73,362)
(217,880)
(174,695)
(73,362)
(248,057)
39,811
40,763
80,574
(718)
-
(718)
-
-
-
39,093
40,763
79,856
135,087
65,139
200,226
174,180
105,902
280,082		 2022
£
Unrestricted
Funds
2022
£
Restricted
Funds
2022
£
Total
Funds
45,322
68,840
114,162
152,007
40,716
192,723
484
-
484
197,813
109,556
307,369
(29,122)
-
(29,122)
(149,998)
(62,779)
(212,777)
(179,120)
(62,779)
(241,899)
18,693
46,777
65,470
-
-
-
(1,855)
-
(1,855)
16,838
46,777
63,615
118,249
18,362
136,611
135,087
65,139
200,226

There were no recognised gains or losses other than the net movement in funds for the above two financial years.

All activities of the Society are continuing.

The notes on pages 12 to 16 form part of these financial statements.

9

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

BALANCE SHEET AS AT 31 August 2023

Notes
Fixed assets
Investments
6
Current assets
Debtors and prepayments
7
Cash at bank and on deposit
Liabilities: amounts falling due within one year
Creditors and accruals
8
Net current assets
Net assets
Represented by:
General fund – unrestricted
9
150thanniversary fund – restricted
9
Total funds		 2023
£
-
17,165
271,408
288,573
(8,491)
280,082
280,082
174,180
105,902
280,082		 2022
£
6,840
23,546
178,197
201,743
(8,357)
193,386
200,226
135,087
65,139
200,226

For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. The notes on pages 12 to 16 form part of these financial statements. The financial statements on pages 9 to 16 were approved by the Board on 30 May 2024

K J Skinner Company Registration No 02162383

10

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 August 2023

2023 2022
£ £
Cash flows from operating activities:
___ ___
Net cash provided by / (used in) operating activities 83,837 46,311
─────── ───────
Cash flows from investing activities:
Interest from investments 3,252 484
Proceeds from sale of investments 6,122 -
__ __
Net cash provided by investing activities 9,374 484
─────── ───────
Change in cash and cash equivalents in the operating period 93,211 46,795
Cash and cash equivalents at the beginning of the period 178,197 131,402
─────── ───────
Cash and cash equivalents at the end of the reporting period 271,408 178,197
═══════ ═══════
Reconciliation of net movement in funds to net cash flow from Operating activities
Net movement in funds for the reporting period 79,856 63,615
Adjustments for:
Realised losses on investments 718 -
Unrealised losses on investments - 1,855
Dividends and interest from investments (3,252) (484)
(Increase) / decrease in debtors and prepayments 6,381 (17,327)
Increase / (decrease) in creditors and accruals 134 (1.348)
─────── ───────
Net cash provided by / (used in) operating activities 83,837 46,311
─────── ───────
Analysis of cash and cash equivalents
Cash at bank and in hand 271,408 178,197
─────── ───────
Total cash and cash equivalents 271,408 178,197
═══════ ═══════

11

(A company limited by guarantee)

ROYAL CHORAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023

1.1 Accounting policies

A summary of the principal accounting policies adopted, judgements and key sources of estimation or uncertainty in the preparation of the accounts are laid out below:

1.2 Basis of preparation

These financial statements have been prepared for the year ended 31 August 2023 and have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Charities SORP FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

1.3 Critical accounting estimates and areas of judgement

Preparation of the accounts requires the Trustees and management to make significant judgements and estimates.

There are no items in these accounts that require such judgements or estimates.

1.4 Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast doubt in the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

1.5 Income

All income is included in the statement of financial activities when the charity is entitled to the income, receipt is probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

12

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 (continued)

1.6 Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its charitable activities. It
includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary
to support them.
All costs are allocated between the expenditure categories in the statement of financial activities based on the use
of the resource.
Governance costs are included within support costs and consist of the independent examination in order to meet
the constitutional and statutory requirements of the charity.
1.7 Related party transactions
Related party transactions are fully disclosed in the report or notes to the accounts.
1.8 Tangible fixed assets and depreciation
Fixed assets under £750 in value are not capitalised but treated as revenue expenditure in the year of purchase.
1.9 Debtors
Debtors are stated at their settlement amount, less any provision for non-recoverability. Prepayments are valued at
the amount prepaid. They have been discounted to the present value of the future cash receipt where such
discounting is material.
1.10 Investments
The fixed asset investment was invested in a UK unit trust. Listed investments are a form of basic financial
instrument initially recognised at their transaction value and subsequently measured at fair value at the balance
sheet date using the closing quoted market price. Any gain / (loss) on revaluation and disposal are recorded in the
statement of financial activities.
1.11 Cash at bank and in hand
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a
maturity of less than three months from the date of the accounts. Deposits for more than three months but less than
one year are disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a
fixed asset investment.
1.12 Creditors and provisions

Creditors and provisions 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 be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

13

3

4

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 (continued)

1.13 Accumulated funds

Unrestricted funds are donations and other income receivable for the object of the charity without further specific conditions and are available as general funds.

Restricted funds are subject to specific conditions by donors as to how they may be used. Expenditure which meets these criteria is charged to the relevant fund.

1.14 Taxation

The Royal Choral Society is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to charities.

2

Voluntary income
Donations – unrestricted
Donations – restricted: 150thanniversary appeal
Subscriptions`
Gift Aid
Notional rent received		 2023
£
2,291
8,535
26,530
5,503
15,000
57,859		 2022
£
1,195
68,840
24,412
4,715
15,000
114,162

During the year ended 31 August 2023, two Trustees (2022: six) made donations to choir funds totalling £819 (2022: £23,032) including donations made through the friends’ programme and other appeals.

Activities for generating funds
Concert, programmes and advertising income
Music library
Recording royalties
150thseason productions (restricted)
Costs of generating voluntary income
Independent examiner
Office and sundry expenses
Property costs
Credit card charges
Website costs
Insurance
Notional office rent		 2023
£
155,815
5,874
241
105,590
267,520
2023
£
2,400
4,613
4,826
2,106
302
930
15,000
30,177		 2022
£
150,133
1,520
354
40,716
192,723
2022
£
2,000
4,049
5,185
1,626
265
997
15,000
29,122

14

6

7

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 (continued)

5

Charitable activities
Cost of concerts and invitations
Choir costs
150thseason productions (restricted)		 2023
£
75,334
69,182
73,362
217,880		 2022
£
93,594
56,404
62,779
212,777

The Trustees did not receive any remuneration for their services as Trustees in either year.

It is the policy of the Society to reimburse Trustees for legitimate expenses, including postage, stationery and other administrative items. During the year under review, £38 travel expenses were reimbursed to one trustee (2022: £38).

Investments
Market value at 1 September
Change in fair value from 1 September to disposal
Proceeds from sale of investments
Unrealised (loss)
Market value at 31 August
Historical cost of investments at 31 August		 2023
£
6,840
(718)
(6,122)
-
-
-		 2022
£
8,695
-
-
(1,855)
6,840
6,840

The investments, consisting of units in a Schroder unitized fund for Charities were realised when the fund was dissolved.

Debtors and prepayments 2023 2022
£ £
Prepayments and accrued income 17,165 23,546

15

9

ROYAL CHORAL SOCIETY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 (continued)

8

Creditors: Amounts falling due within one year
Accruals and deferred income
Reconciliation of movements on reserves
General fund – unrestricted
Balance brought forward at 1 September
Net incoming / (outgoing) resources
Unrealised (loss) on investments
Balance carried forward at 31 August
150th anniversary appeal – restricted
Balance brought forward at 1 September
Net incoming / (outgoing) resources
Balance carried forward at 31 August		 2023
£
8,491
8,491
2023
£
135,087
39,093
-
174,180
2023
£
65,139
40,763
105,902		 2022
£
8,357
8,357
2022
£
118,249
18,693
(1,855)
135,087
2022
£
18,362
46,777
65,139

The 150th anniversary appeal relates to fundraising in connection with celebrating the Society’s 150th anniversary season from April 2022 to May 2023. The objectives of fundraising are both to be used to support our anniversary programme, and to safeguard the future of the Society for the next 150 years. The fundraising period ended at May 2023. The remaining balance on the fund will be brought forward towards specific future projects and charitable initiatives or may be transferred to unrestricted funds at the discretion of the Trustees.

Total funds
Balance brought forward at 1 September
Net incoming / (outgoing) resources
Unrealised (loss) on investments
Balance carried forward at 31 August		 2023
£
200,226
79,856
-
280,082		 2022
£
136,611
65,470
(1,855)
200,226

16