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2025-10-31-accounts

Charity Commission registered number: 326917 Company number: 01930741

The Sixteen

(a company limited by guarantee)

Trustees' Report and Consolidated Financial Statements

For the year ended 31 October 2025

THE SIXTEEN CONTENTS FOR THE YEAR ENDED 31 OCTOBER 2025

Page No.
Trust Information 1
Trustees’ Report 2 - 8
Independent Auditor’s Report 9 - 11
Consolidated Statement of Financial Activities 12 - 13
Consolidated Balance Sheet 14
Company Balance Sheet 15
Consolidated Cash Flow Statement 16
Notes to the financial statements 17 - 31

THE SIXTEEN (A Company Limited by Guarantee)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025

The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 October 2025.

REFERENCE AND ADMINISTRATIVE DETAILS

The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

The trustees serving during the year and since the year end were as follows:

Robin Barda (Chairman)
Lord Briggs of Westbourne
Olivia Carrington
Harry Christophers CBE
Mary Deissler (deceased November 2025)
Keith Parker
Steve Pickett
Richard Price
Adam Singer
Lord Smith of Finsbury
Chief Executive: Marie-Sophie Willis
Registered Office: Unit 1b, Princes House
38 Jermyn Street
St James's
London
SW1Y 6DN
Independent Auditors: Wenn Townsend
Chartered Accountants
30 St Giles
Oxford
Bankers: HSBC plc
60 Queen Victoria Street
London EC4N 4TR
Charity number: 326917
Company number: 1930741

1

THE SIXTEEN (A Company Limited by Guarantee)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 OCTOBER 2025 (CONTINUED)

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Sixteen is a company limited by guarantee governed by its Memorandum and Articles of Association dated 1 June 1985 and revised May 2017. It is registered as a charity with the Charity Commission. There are currently 9 members (10 in 2024). No person may be admitted to membership of the Company unless he/she is first approved by the Council.

Appointment of Trustees

As set out in the Articles of Association, the Chair of the Trustees is nominated by the members.

Trustees are nominated by the existing Trustees.

Trustee induction and training

New trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity.

During the induction day they meet key employees and other Trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. They are also encouraged to attend rehearsals, performances and workshops whenever possible.

Organisation

The Board of Trustees, which may not have less than three members, administers the Charity. The Board meets quarterly and there are sub-committees covering finance and employment which meet more regularly. A Chief Executive is appointed by the Trustees to manage the day- to-day operations of the Charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and performance related activity. Artistic policy is managed by the Artistic Director.

Related Parties

The charity’s wholly owned subsidiary, The Sixteen Productions Limited, was established to exploit, manage and market the recordings made by The Sixteen and distributes all its profits to the Charity (see note 12 to the accounts).

Risk Management

The trustees have a risk management strategy which comprises:

The principal risks faced by the charity relate to financial sustainability and loss of key personnel. The trustees keep these risks under regular review.

2

THE SIXTEEN (A Company Limited by Guarantee)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 OCTOBER 2025 (CONTINUED)

Objectives and activities

The objectives of the charity are:

The charity has the general aim of promoting choral and orchestral works to the very highest professional standards and to the widest possible audience. For example, the Choral Pilgrimage reaches audiences all over the UK.

The strategies employed to achieve the charity’s objectives are to:

The five major areas of activity are: concerts for which the choir and orchestra are hired by other promoters both within the UK and abroad; own-promoted concerts; The Choral Pilgrimage, a nationwide tour of Cathedrals and Abbeys; learning and participation activities; the training of the next generation of choral ensemble singers through Genesis Sixteen. The concerts which The Sixteen presents seek to combine performances with educational events, for example Choral Workshops and Schools matinees.

The Sixteen's Learning & Participation programme aims to:

Achievements and performance

The 2024–2025 season was one of The Sixteen's busiest and most artistically diverse in recent years. Across the year, the ensemble gave 59 public performances, made two new recordings, and delivered an expanded programme of learning and participation activity, reaching audiences and participants across the UK and internationally.

3

THE SIXTEEN (A Company Limited by Guarantee)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025 (CONTINUED)

Achievements and performance (continued)

Fifteen performances took place in London, where The Sixteen continued to strengthen relationships with key artistic partners. At Wigmore Hall, the ensemble built on its successful residency with four performances, including three concerts presented at St James's Spanish Place celebrating the 500th anniversary of Palestrina. The longstanding partnership with Cadogan Hall also continued, with two a cappella Christmas concerts and a performance of music by Purcell and Handel featuring the Choir and Orchestra of The Sixteen. The Sixteen was also delighted to continue its association with St Martin-inthe-Fields with performances of Handel's Messiah and the Choral Pilgrimage.

Of the 59 performances, six featured the Orchestra of The Sixteen, while 11 took place overseas. In December, the ensemble gave five performances in Belgium and the Netherlands as part of a festive mini-tour, complemented by a further five UK performances of the same Christmas programme. The Sixteen’s Associate Conductor, Eamonn Dougan, directed three performances of Polish a cappella repertoire as part of the London Polish Festival and in Kraków and Warsaw.

For the second consecutive year, The Sixteen also performed at the St James’s Piccadilly Church Christmas Gala. In addition, members of the 2024–25 Genesis Sixteen cohort were invited by St James’s Piccadilly to travel to its sister church in New York, St Bartholomew’s, where they performed at a private fundraising gala attended by HRH Prince Edward.

We were thrilled to be a part of the Genesis Foundation’s new opera theatre production, a new commission called Angels on the Underground with music by Will Todd, and libretto by Sally Gardner : Angels On The Underground is a theatrical chamber work which was directed by Aidan Lang, with videography by Nina Dunn. It was staged at the Maria Studio at the Young Vic, performed by four soloists – all Genesis Sixteen alumni – The Sixteen, and four instrumentalists. The piece is set in and around a London underground station and tells the story of a homeless young man who plans to take his own life on ‘the last train’ as his life has unravelled beyond his control.

The Sixteen's record label, CORO, released seven albums during the year, comprising two new recordings by The Sixteen, a compilation album, and four recordings by guest artists on the label: I Fagiolini, the Handel + Haydn Society, and The Choir of Magdalen College, Oxford. The Sixteen's new releases included a Christmas recording and a recording of the repertoire from the 2025 Choral Pilgrimage, Angel of Peace , extending the life and reach of these performances far beyond the concert hall. Our recordings and broadcasts continue to connect The Sixteen with audiences around the world. We are delighted to remain the Voices of Classic FM, ensuring our music reaches millions of listeners, while our Choral Pilgrimage performance from York Minster was broadcast on BBC Radio 3, bringing the work to a national audience. We were also thrilled that our Choral Pilgrimage performance from Peterborough Cathedral was filmed and released in October 2025 on BBC Four.

The Choral Pilgrimage remains the cornerstone of The Sixteen's artistic programme and a vital means of fulfilling our charitable objective to make exceptional choral music accessible to audiences across the UK. 2025 was the 25[th] anniversary of the Choral Pilgrimage, and between April and October 2025, we gave 22 performances of Angel of Peace , performing in cathedrals, churches and concert venues nationwide. The tour attracted audiences from long-standing supporters to first-time concertgoers, bringing worldclass live performance to communities across the country. Through the tour’s performances and learning & participation work, we reached more than 17,500 people with a further 70,000 through our digital channels, and 100,000 + plus through the BBC Radio 3 relay.

Angel of Peace explored themes of hope, reflection and reconciliation through music spanning almost 900 years. The programme placed contemporary voices alongside some of the greatest works of the medieval and Renaissance repertoire, featuring music by Will Todd, Arvo Pärt and a newly commissioned work by Anna Clyne, alongside compositions by John Taverner and the remarkable 12th-century composer and mystic Hildegard of Bingen. This dialogue between historic and contemporary repertoire is central to The Sixteen's artistic vision, enabling audiences to experience familiar masterpieces alongside significant new works.

4

THE SIXTEEN (A Company Limited by Guarantee)

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 OCTOBER 2025 (CONTINUED)

Achievements and performance (continued)

A key artistic achievement of the year was the premiere of Anna Clyne's Orbits , commissioned by The — Sixteen for choir and solo violin. Written to complement Will Todd's I Shall Be an Angel of Peace commissioned by the Genesis Foundation in 2021—this work demonstrates our continuing commitment to enriching the choral repertoire through commissioning outstanding living composers. By presenting new music alongside established masterpieces, The Sixteen continues to champion creativity, support composers, and ensure that the choral tradition remains a living and evolving art form. Orbits was awarded an Ivor Novello for Best Choral Composition in 2025.

Learning and participation remain central to The Sixteen's charitable mission, enabling people of all ages and backgrounds to experience the joy, creativity and wellbeing that singing can bring. Our programme, named Ignite, seeks not only to introduce new audiences to the choral repertoire but also to inspire the next generation of singers by building lasting relationships with schools, music services, community organisations and cultural partners across the UK.

During 2024–25, we delivered 64 high-quality learning and participation sessions, reaching hundreds of young people, teachers and community participants. Activity included three in-depth school residencies, 17 singing and chorister workshops, talent development events, community singing projects and the annual Sounds Sublime festival. Our school residencies continued to demonstrate the long-term impact that sustained engagement can have. Katie Hibbard of Durham Music Service reflected:

"Thank you once again for these fantastic days. We have already heard comments like 'Can we do that song next year in choir?' from existing choir members, and from Year 6 pupils, 'I can't wait to join the school choir next year.'"

Similarly, our singing workshops introduced many children to live professional choral singing for the first time, with partners describing them as "an excellent workshop for both choirs" and "a fantastic opportunity for children to hear live singing of which they have never heard before."

More than 500 people attended the Sounds Sublime festival, including 210 young participants who took part in workshops, performances and rehearsals. Feedback demonstrated both musical development and increased confidence, with participants commenting that the repertoire was "challenging but achievable" and that the experience had enabled their choir to grow musically.

A particular focus this year was widening access to professional choral careers through our Talent Development Programme. Designed to encourage young people from underrepresented backgrounds to consider careers in choral music, the programme is already demonstrating encouraging results. Seventy per cent of participants said they would consider applying to Genesis Sixteen following their involvement, while 90% said they would take part in future workshops with The Sixteen. One participant reflected:

"The workshop helped me to open my mind to a possibility in a professional choral group as I thought that possibility was less accessible than it actually is."

Our partners also recognised the transformative impact of this work. Graham Cotgreave, Community Music Partner, commented: "From the moment The Sixteen team arrived, they infected the minds of the 11–16-year-olds with their energy and enthusiasm. I have rarely seen so many young people so completely engaged and so fully committed to participation... The Sixteen team planted seeds in young minds today and we can only stand back in awe and watch as those seeds germinate and grow."

5

THE SIXTEEN (A Company Limited by Guarantee)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2025 (CONTINUED)

Achievements and performance (continued)

The Sixteen believes everyone should have the opportunity to experience and create music. A major strategic priority is to diversify the pipeline of young people entering the choral profession and increase representation from groups that remain underrepresented within the sector. During the year, we were delighted to secure support from the Vinehill Trust and Michael Watt to launch a major new strand of our learning and participation programme that will significantly expand both the scale and ambition of our work. This new area of our work is built around three interconnected strands. Choral Academy will nurture talented young singers aged 14–18 through high-quality ensemble singing and performance opportunities. Talent Development will provide pathways into professional choral singing through workshops, mentoring and skills development, with a particular focus on supporting young people from underrepresented backgrounds. Digital will create free online learning resources and performances, enabling schools, teachers and young singers across the UK—and beyond—to engage with The Sixteen regardless of geography or financial circumstance.

Together, these initiatives will allow The Sixteen to work with substantially more young people, strengthen partnerships with schools, music services and community organisations, and ensure that our learning and participation programme reaches new audiences while creating clear pathways from first engagement through to professional training. It represents a significant investment in the future of choral singing, helping to develop the performers, audiences and advocates of tomorrow.

Alongside this work, Genesis Sixteen continues to nurture exceptional young professional singers through the UK's leading young artist programmes. Established in 2011 and funded entirely by the Genesis Foundation, the programme supports 22 young singers each year, together with a Conducting Scholar, providing world-class training, performance opportunities and professional development. Since its inception, Genesis Sixteen has become an important pathway into the profession, and we look forward to welcoming its sixteenth cohort in August 2026.

“From the word go you are plunged into an immensely vibrant atmosphere, encouraged to strive for the very best whilst surrounded by an incredibly supportive network. I can honestly say this has been one of the most rewarding musical experiences of my life.” Natasha Cutler, Alto, Cohort 2

Public Benefit

We have referred to the guidance in the Charity Commission’s general guidance on Public Benefit including the guidance 'public benefit: running a charity (PB2),' when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

Financial Review

The end of the year saw a surplus of £17,134 (2024: deficit of £58,437) for The Sixteen Limited. The company is prohibited by its memorandum from payment of any dividend.

The Charity’s wholly owned trading subsidiary, The Sixteen Productions Limited, had a successful year. Total profits were £40,105 (2024: £57,150). The trading subsidiary distributes all its profits to the Sixteen Limited. The Trustees are pleased with the commercial success of the venture which operates the CORO record label and licenses recordings made by the group. The principal funding, aside from profits from The Sixteen Productions Limited was fees from engagements, £1,123,842 (2024: £928,332), and donations of £370,601 (2024: £370,925). The Trustees were grateful to the Genesis Foundation for its support of The Sixteen’s young artists training programme.

Under the Memorandum and Articles of Association, the charity has the power to invest in any way the Trustees wish. The Trustees, having regard to the liquidity requirements of operating the company and to the reserves policy have operated a policy of keeping available funds in an interest bearing deposit account.

6

THE SIXTEEN (A Company Limited by Guarantee) REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 OCTOBER 2025 (CONTINUED)

Reserves policy

The Trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on concerts and recordings and receiving resources through hire fees, admission charges and grants that provide funding. Reserves are also held to cover possible defaults by promoters and other expenditure.

The Trustees, therefore, consider that the desired minimum level of reserves as at 31 October 2025 would be £110,000. The actual free reserves at 31 October 2025 were £210,636 of which all were held for unrestricted purposes.

Plans for the future

Plans for the future are driven by two core ambitions: to nurture the next generation of choral singers, with a particular focus on diversifying the talent pipeline, and to share the richness of our choral heritage with as many people as possible through the continued expansion of Ignite, our learning and participation programme. Alongside this, we remain committed to enriching the choral repertoire by commissioning and premiering new works each year.

A major new development for The Sixteen is the recently announced “The Sixteen at St James’s”, a five-year collaboration with St James’s Piccadilly, in partnership with the Genesis Foundation. This landmark collaboration with the historic church—designed by Sir Christopher Wren and consecrated in 1684—will establish a permanent home for The Sixteen at St James’s. Joint programming will include new choral commissions, annual performances of Handel’s Messiah, concerts as part of The Sixteen’s Choral Pilgrimage, regular Choral Evensongs, and an expanding programme of learning and participation activities within the parish. The partnership also marks the first time a professional choir has become resident at St James’s, building on the church’s long-standing reputation as a centre of musical excellence.

Genesis Foundation

The relationship with the Genesis Foundation continues to provide exceptional and ground-breaking opportunities. We would like to thank John Studzinski and the Genesis Foundation for their enlightened and visionary approach to both initiating and supporting projects and artists.

Fundraising

The Sixteen raises funds to support the charitable activities of the organisation. A Development Director and Manager are employed by the group to raise funds in the areas of: ACE, trusts and foundations, individuals and corporates. The fundraising, and those employed by the charity to undertake fundraising activity, was carried out in line with The Sixteen’s policies. There were no complaints received by the charity regarding fundraising activities. Finally, we would like to acknowledge the great loyalty and support of the generous individuals, trusts and foundations, corporates and Arts Council England, who support the work of The Sixteen. We are hugely grateful to them all.

Safeguarding

The Sixteen has a clear policy on working with children and vulnerable people. All those undertaking work on behalf of The Sixteen with children or vulnerable people are made aware of The Sixteen’s policy on safeguarding. The Sixteen undertakes the necessary checks to determine the suitability of anyone working with participants that fall within these categories.

Fixed assets

The movements in fixed assets during the year are set out in notes 14-16 to the accounts.

Auditors

A resolution to re-appoint Wenn Townsend will be proposed at the Annual General Meeting.

BY ORDER OF THE BOARD

………………………….. Robin Barda (Chairman)

27 July 2026

7

THE SIXTEEN

(A Company Limited by Guarantee)

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees (who are also directors of The Sixteen) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period.

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

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at the time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

BY ORDER OF THE BOARD

………………………….. Robin Barda (Chairman) 27 July 2026

8

THE SIXTEEN (A Company Limited by Guarantee)

INDEPENDENT AUDITORS REPORT TO THE MEMBERS AND TRUSTEES OF THE SIXTEEN

Opinion

We have audited the financial statements of The Sixteen (the ’company’) for the year ended 31 October 2025 which comprise the Group Statement of Financial Activities, the Group and Parent Charitable Company Balance Sheets, the Group Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Ireland’.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

9

THE SIXTEEN

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS REPORT TO THE MEMBERS AND TRUSTEES OF THE SIXTEEN

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

10

THE SIXTEEN

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS REPORT TO THE MEMBERS AND TRUSTEES OF THE SIXTEEN

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but it is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken based on these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The specific procedures for this engagement and the extent to which these can detect irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Rodzynski BSc FCA (Senior Statutory Auditor) For and on behalf of Wenn Townsend Chartered Accountants and Statutory Auditor

………………………. 2026

11

THE SIXTEEN

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2025

Unrestricted **Restricted ** Total Funds Total Funds
Funds Funds 2025 2024
Note £ £ £ £
Income
Donations and legacies 2 280,226 90,375 370,601
370,925
Other trading activities 12 235,444 - 235,444 263,657
Investment income 2,329 - 2,329 2,118
Income from charitable activities 3 967,842 156,000 1,123,842 928,332
Other income 4 2,862 - 2,862 20,813
Total 1,488,703 246,375 1,735,078 1,585,845
Expenditure
Raising funds:
Fundraising costs 6 61,904 - 61,904 78,015
Trading expenditure 7 202,505 - 202,505 224,508
Expenditure on charitable 8 1,246,160 246,375 1,492,535 1,367,260
activities
Total 1,510,569 246,375 1,756,944 1,669,783
Net income/(expenditure) (21,866) - (21,866) (83,938)
Taxation credit 39,000 - 39,000 25,501
Net movement in funds for the year5 17,134 - 17,134 (58,437)
Funds at 1 November 2024 26 200,469 - 200,469 258,906
Funds at 31 October 2025 26 217,603 - 217,603 200,469

The statement of financial activities contains all gains and losses recognised in the year and the results reported relate to continuing operations.

12

THE SIXTEEN

(A Company Limited by Guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2024

Note
Income
Donations and legacies
2
Other trading activities
12
Investment income
Income from charitable activities
3
Other income
4
Total
Expenditure
Raising funds:
Fundraising costs
6
Trading expenditure
7
Expenditure on charitable activities
7
Total
Net income/(expenditure)
(Loss)/gains on investments
(Loss)/gains on investments
Net movement in funds for the year
5
Funds at 1 November 2023
26
Funds at 31 October 2024
26		 Unrestricted
Restricted
Total Funds
Total Funds
Funds
Funds
2024
2023
£
£
£
£
310,925
60,000
370,925
380,648
263,657
-
263,657
288,207
2,118
-
2,118
856
778,332
150,000
928,332
937,441
20,813
-
20,813
1,962
1,375,845
210,000
1,585,845
1,609,114
78,015
-
78,015
80,531
224,508
-
224,508
221,299
1,157,260
210,000
1,367,260
1,420,762
1,459,783
210,000
1,669,783
1,722,592
(83,938)
-
(83,938)
(113,478)
-
-
-
1,398
25,501
-
25,501
40,992
(58,437)
-
(58,437)
(71,088)
258,906
-
258,906
329,994
200,469
-
200,469
258,906

The statement of financial activities contains all gains and losses recognised in the year and the results reported relate to continuing operations.

13

THE SIXTEEN (A Company Limited by Guarantee)

CONSOLIDATED BALANCE SHEET AS AT 31 OCTOBER 2025

Note
Fixed assets
Tangible fixed assets
14
Intangible fixed assets
16
Current assets
Stock
17
Debtors
18
Cash at bank and in hand
Creditors:Amounts falling due
19
within one year
Net current assets
Total assets less current liabilities
Net assets
Funds
Unrestricted funds
Restricted funds
25
Total funds		 2025
£
6,967
-		 2025
£
6,967
210,636		 2024
£
6,374
7,167		 2024
£
13,541
186,928
44,815
200,439
202,210		 46,797
226,039
150,259
447,464
(236,828)		 423,095
(236,167)
217,603 200,469
217,603 200,469
217,603
-		 200,469
-
217,603 200,469

These accounts were approved and authorised for issue by the Board on an d signed on 27 July 2 026 on their behalf by:

……………………………………..

Robin Barda Chairman

14

THE SIXTEEN (A Company Limited by Guarantee)

CHARITY BALANCE SHEET AS AT 31 OCTOBER 2025

Note
Fixed assets
Tangible fixed assets
14
Intangible fixed assets
16
Investment in subsidiary
15
Current assets
Debtors
18
Cash at bank and in hand
Creditors:Amounts falling due
19
within one year
Net current assets
Total assets less current liabilities
Net assets
Funds
Unrestricted funds
Restricted funds
25
Total funds		 2025
£
6,401
-
1
2025

£



6,402



161,522		 2024
£
5,242
7,167
1		 2024
£
12,410
121,589
171,421
182,477		 196,519
122,188
353,898
(192,376)		 318,707
(197,118)
167,924 133,999
167,924 133,999
167,924
-		 133,999
-
167,924 133,999

The parent charity has not presented its own Statement of Financial Activities as permitted by s.408 Companies Act 2006. The total income (including taxation credit) of the parent charity amounted to £1,538,442 (2024: £1,347,331) and total expenditure was £1,561,414 (2024: £1,462,918) giving a net deficit for the year of £22,972 (2024: £115,587).

These accounts were approved and authorised for issue by the Board on 27 July 2026 and signed on their behalf by:

……………………………………..

Robin Barda Chairman

15

THE SIXTEEN (A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2025

Note
2025
£
Cash flows from operating activities
Net cash provided by/(used in)
operating activities (see below)
Cash flows from investing activities
Disposal of shares
-
Purchase of tangible fixed assets
14a
(1,533)
Net cash used in investing activities
Change in cash and cash
equivalents
Cash and cash cash equivalents at
the beginning of the reporting period
Cash and cash cash equivalents at
the end of the reporting period
Net cash provided by operating activities
Activities
Net (expenditure)/income for the year
Adjustments for:
Depreciation charges
Amortisation charges
Loss/(gains) on Investments
Decrease/(increase) in stock
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities		 2025
£
-
(1,533)		 2025
£
-
(1,533)		 2025
£
2024
£
53,484
-
(1,697)
(1,533)
51,951
150,259
202,210
2025
£
17,134
940
7,167
-
1,982
25,600
661
53,484		 2025
£
2024
£
53,484
-
(1,697)
(1,533)
51,951
150,259
202,210
2025
£
17,134
940
7,167
-
1,982
25,600
661
53,484		 2024
£
(31,893)
(1,697)
(33,590)
183,849
150,259
2024
£
(58,437)
1,476
14,333
-
(9,028)
(36,796)
56,559
(31,893)

16

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

1. Accounting policies

a) Accounting convention

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The company is a public entity for the purposes of FRS 102 and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP), the Companies Act 2006 and Charities Act 2011.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b) Going concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the company's forecasts and projections. As part of the going concern review the trustees prepared budget forecasts to July 2027, demonstrating that the company has adequate resources to continue in operation for at least twelve months from the approval of the financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.

c) Basis of Consolidation

The consolidated (group) financial statements comprise the Charity and its wholly owned subsidiary The Sixteen Productions Limited (registered company number 04252277) made up to 31 October. The principal activity of The Sixteen Productions is the education of the public in arts, particularly the arts of orchestral, choral and other music, through the sale and distribution of CDs, DVDs and digital recordings.

The results of the trading subsidiary company are presented in the Consolidated Statement of Financial Activities by disclosing the income and expenditure derived from its non-charitable trading activities separately from those of the Charity. A summary profit and loss account and balance sheet for the trading subsidiary is included in note 12.

The subsidiary company’s assets and liabilities are consolidated in the group balance sheet on a line-by-line basis.

d) Income

Income is recognised when there is entitlement to the income, the amount can be measured reliably and the income is probable. The following specific policies are applied to particular categories of income:

Income from concerts and record sales are included in the accounts in the year in which the concerts or record sales take place.

Voluntary income received by way of grants and donations is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Gift aid recoverable is accounted for as the charity earns the right to consideration by its performance.

Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

17

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

1. Accounting policies (continued)

e) Expenditure

Expenditure is accounted for on an accruals basis under the appropriate expense category. Expenditure is recognised once there is legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and it can be measured reliably.

f) Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Website development

33% straight line per annum

g) Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their estimated useful lives as follows:-

Office equipment

20-33% straight line per annum

h) Foreign exchange

Transactions in foreign currencies are recorded at the rates at the date of the transaction, and exchange fluctuations are written off at the time of payment. Assets and liabilities at the balance sheet date have been converted at the rate ruling at that date.

i) Cash and Cash Equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

j) Financial Instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

k) Investments

Unlisted investments are stated at original purchase price. Listed investments are stated at fair value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses on revaluation and disposals of listed investment funds throughout the year.

18

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1. Accounting policies (continued)

l) Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

m) Post retirement benefits

The charity operates a defined contribution pension scheme. Contributions are charged to the Statements of Financial Activities when they become payable.

n) Unrestricted funds

Unrestricted general funds are funds that can be used in accordance with the charitable objectives at the discretion of the Trustees.

o) Designated funds

Designated funds are funds set aside by the Trustees out of unrestricted general funds for specific/future purposes.

p) Restricted funds

Restricted funds are those where the donor has provided for the donation to be spent in furtherance of a specified charitable purpose.

q) Critical accounting judgements and estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The following are key areas of estimation uncertainty:

Stock impairment

Impairment of stock is reviewed annually. The stock provision is sensitive to changes in management assumptions. The stock provision is amended where necessary to reflect the physical condition of stock and expected future sales.

19

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

2 Donations and legacies

Unrestricted
Donations
Gift aid
Total unrestricted
Restricted
Donations
Grant, Trust and Foundation funding
Total restricted
Total
3
Income from charitable activities
Unrestricted
Choral Performances including recordings
Total unrestricted
Restricted
Educational projects
Total restricted
Total
4
Other income
Miscellaneous income		 2025
£
255,275
24,951
280,226
90,375
-
90,375
370,601
2025
£
967,842
967,842
156,000
156,000
1,123,842
2025
£
2,862
2,862		 2024
£
284,834
26,091
310,925
-
60,000
60,000
370,925
2024
£
778,332
778,332
150,000
150,000
928,332
2024
£
20,813
20,813

All other income in 2025 and in 2024 was unrestricted.

20

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

5 Net movement in funds

This is stated after charging:

Auditor's remuneration
Amortisation on intangible assets
Depreciation on fixed assets		 Group
2025
£
11,776
7,167
940		 2024
£
10,425
14,333
1,476		 Charity
2025
2024
£
£
4,500
6,500
7,167
-
374
748

6 Fundraising costs

6
Fundraising costs
Fundraising costs
Total 2025
Total 2024
7
Trading expenditure
Trading costs
Total 2025
Total 2024		 Activities
£
-
-
-
Activities
£
195,530
195,530
206,863		 Support
£
61,904
61,904
78,015
Support
£
6,975
6,975
17,645		 Total 2025
£
61,904
61,904
78,015
Total 2025
£
202,505
202,505
224,508

8 Charitable activities

Choral performances including recordings and educational projects.

Total 2025
Total 2024		 Activities
£
1,093,820
994,550		 Support
£
398,715
372,710		 Total 2025
£
1,492,535
1,367,260

The support costs included in this note are in respect of Choral Performances & Recording and Educational Projects per note 9.

21

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

9 Support costs

General office
Governance costs
(note 10)
Finance costs
Information
technology
Human resources
Communication
costs
Accountancy and
professional
General marketing
Total		 Cost of
raising
funds
£
3,994
57,457
453
61,904		 Trading
expenditure
£
647
356
1,101
604
2,783
238
661
585
6,975		 Choral
Performances
& Recording
£
22,544
9,210
5,007
15,653
137,581
6,179
17,083
36,274		 Educational
Projects
£
8,976
2,210
1,018
3,648
127,231
1,309
4,081
711
149,184		 Total 2025

£

36,161

11,776

7,126

19,905

325,052

7,726

21,825

38,023

467,594
249,531
General office
Governance costs
(note 10)
Finance costs
Information
technology
Human resources
Communication
costs
Accountancy and
professional
General marketing
Total		 Cost of
raising
funds
£
5,242
72,324
449
78,015		 Trading
expenditure
£
1,348
810
1,922
1,359
7,333
651
2,025
2,197
17,645		 Choral
Performances
& Recording
£
15,663
7,884
18,385
12,059
109,641
5,792
17,918
46,186		 Educational
Projects
£
8,320
1,731
7,414
3,009
112,490
1,391
4,326
501
139,182		 Total 2024

£

30,573

10,425

27,721

16,427

301,788

7,834

24,269

49,333

468,370
233,528

10 Governance Costs

Audit Fee
Total		 2025
£
11,776
11,776		 2024
£
10,425
10,425

22

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

11 Employees
a)Staff costs
Wages and salaries
Social security costs
Pension costs		 Group
2025
2024
£
£
288,463
272,476
23,200
21,984
12,455
15,387
324,118
309,847		 Charity
2025
2024
£
£
247,085
223,649
18,203
17,794
10,800
13,771
276,088
255,214		 Charity
2025
2024
£
£
247,085
223,649
18,203
17,794
10,800
13,771
276,088
255,214
255,214

b) The average weekly number of employees during the year was made up of as follows:


Office and management
 Group
Company
2025
2024
2025
8
8
7		 2024
6

There was one employee who earned over £60,000 (between £60,000 and £70,000) in 2025 (2024: none).

The total compensation paid to key management personnel in the group amounted to £281,309 (2024: £249,272). Key management personnel are considered to be the Chief Executives of The Sixteen and The Sixteen Productions Limited and Mr. R H T Christophers as explained further in the related party note, note 24. Total key management personnel consists of three (2024: three) individuals.

12 Income earned from other activities

The wholly owned trading subsidiary The Sixteen Productions Limited is incorporated in the United Kingdom (company number 04252277) and distributes all of its taxable profits to the charity. The Sixteen Productions Limited's principal trading activity is to promote, maintain, improve and advance the education of the public in the arts and in particular the arts of orchestral, choral and other music through the sale and distribution of CDs, DVDs and digital recordings.

23

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

12 Income earned from other activities (continued)

Summary of the financial performance and position of The Sixteen Productions Limited

Statement of Profit and Loss
Income
Cost of sales and administrative costs
Interest received
Interest payable
Profit for the financial year
Summary Balance Sheet
Tangible fixed assets
Currents assets
Current liabilities
Creditors due after more than one year		 2025
£
235,445
(195,469)
192
(63)
40,105
2025
£
566
93,386
(42,933)
(1,261)
49,758		 2024
£
263,657
(206,795)
356
(68)
57,150
2024
£
1,132
105,552
(40,213)
-
66,471

Summary Statement of Changes in Equity of The Sixteen Productions Limited

Balance at 31 October 2024
Total comprehensive income
Distributions to The Sixteen
Balance at 31 October 2025		 £
£
Share capital
Profit and
loss
Total
1
66,470
66,471
-
40,105
40,105
-
(56,818)
(56,818)
1
49,757
49,758

13 Trustees' remuneration

No trustees received any remuneration in the year in their capacity as trustees (see note 24 for remuneration paid to trustees for other services). Trustee(s) were reimbursed £- for travel during the current year (2024: £-).

24

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

14 Tangible Fixed Assets Group and Charitable Company

a) Group Tangible fixed assets

a) Group Tangible fixed assets
Cost
At 1 November 2024
Additions
At 31 October 2025
Depreciation
At 1 November 2024
Charge for the year
At 31 October 2025
Net Book Value
At 31 October 2025
At 1 November 2024		 Library
£
5,000
-
5,000
-
-
-
5,000
5,000		 Office
Equipment
£
2025
£
37,767
42,767
1,533
1,533
39,300
44,300
36,393
36,393
940
940
37,333
37,333
1,967
6,967
1,374
6,374
44,300
36,393
940
37,333
6,967
6,374

The library consists of sheet music to be used in The Sixteen's performances. A charge for depreciation is not separately disclosed, because these items are continually replenished and updated.

25

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

14 Tangible Fixed Assets Group and Charitable Company (continued)

b) Charity Tangible fixed assets


Cost
At 1 November 2024
Additions
At 31 October 2025
Depreciation
At 1 November 2024
Charge for the year
At 31 October 2025
Net Book Value
At 31 October 2025
At 1 November 2024
15 Investments in subsidiaries and unlisted investments
a) Company
Cost brought forward
Additions
Cost carried forward		 Library
£
5,000
-
5,000
-
-
-
5,000
5,000
 Office
Equipment
£
33,749
1,533
35,282
33,507
374
33,881
1,401
242		 2025
£
38,749
1,533
40,282
33,507
374
33,881
6,401
5,242
2025
Unlisted
shares
£
1
-
1

The investment represents 100% of the issued share capital of The Sixteen Productions Limited, a company incorporated in the UK.

26

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

16 Intangible Fixed Assets Group and Charitable Company

Cost
At 1 November 2024
Additions
At 31 October 2025
Amortisation
At 1 November 2024
Charge for the year
At 31 October 2025
Net Book Value
At 31 October 2025
At 1 November 2024		 Website
£
43,000
-
-
35,833
7,167
43,000
-
7,167		 2025
£
43,000
-
-
35,833
7,167
43,000
-
7,167

17 Stock

Compact discs Group
2025
£
2024
£
44,815
46,797		 Charity
2025
£
2024
£
-
-		 Charity
2025
£
2024
£
-
-
-

27

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

18 Debtors
Trade debtors
Prepayments and accrued income
Other debtors		 Group
2025
2024
£
£
37,156
78,958
109,286
103,024
53,997
44,057
200,439
226,039		 Charity
2025
2024
£
£
21,158
59,841
99,132
96,026
51,131
40,652
171,421
196,519		 Charity
2025
2024
£
£
21,158
59,841
99,132
96,026
51,131
40,652
171,421
196,519
171,421 196,519
19 Creditors
Trade creditors
Other taxes and social security
costs
Accruals
Deferred income (note 20)
Other creditors		 Group
2025
2024
£
£
105,552
145,626
40,896
44,290
40,505
39,322
44,000
1,648
5,875
5,281
236,828
236,167		 Charity
2025
2024
£
£
88,087
131,354
39,823
43,537
17,873
14,899
44,000
1,648
2,593
5,680
192,376
197,118		 Charity
2025
2024
£
£
88,087
131,354
39,823
43,537
17,873
14,899
44,000
1,648
2,593
5,680
192,376
197,118
192,376 197,118

Deferred income represents grants and donations received for a specific future programme. Deferred income movements can be summarised as follows:

20 Deferred income summary
ed income summary
Brought forward
Recognised as income in the year
Deferred in the year
Carried forward		 Group and Charitable Company
2025
2024
£
£
1,648
92
(157,648)
(92)
200,000
1,648
44,000
1,648
44,000

28

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

21 Company Limited by Guarantee

The company is limited by guarantee, having no share capital. At 31 October 2025 two members have each undertaken to contribute in the event of the winding-up of the company, a sum not exceeding £1 per member.

22 Financial commitments

As at 31 October 2025 the company had capital commitments totaling £nil (2024: £nil).

23 Operating lease commitments

As at 31 October 2025 the total of the group's future minimum lease payments under non-cancellable operating leases was:

Amounts payable
Within 1 year
Between 1 and 5 years
Total		 2025
£
-
-
-		 2024
£
5,553
-
5,553

24 Related party transactions

During the year conductor's fees and workshop leader fees totalling £184,512 (2024: £139,163) were paid for the services of trustee, Mr R H T Christophers. The amount was paid to Harry Christophers Limited, which is controlled by Mr R H T Christophers.

At 31 October 2025 £3,600 (2024: £27,000) was due to Harry Christophers Limited.

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

25 Restricted funds

Choral Pilgrimage 2025 fund
Educational Chorister fund
Other Restricted funds
Choral Pilgrimage 2024 fund
Educational Chorister fund		 As at 1
November
2024
£
-
-
As at 1
November
2023
£
-
-
-		 Income
£
60,000
156,000
30,375
246,375
Income
£
60,000
150,000
210,000		 Expenditure
£
(60,000)
(156,000)
(30,375)
(246,375)
Expenditure
£
(60,000)
(150,000)
(210,000)		 As at 31
October
2025
£
-
-
-
As at 31
October
2024
£
-
-
-

All of the above funds were created after various donors and sponsors specified which project they were granting the money for. Hence a restricted fund was created for each project.

30

THE SIXTEEN (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

26 Analysis of net assets between funds

Fund balances at 31 October 2025 are represented by:

Fixed assets
Net current assets
Total net assets		 Unrestricted
funds
£
6,967
210,636
217,603		 Designated
funds
£
-
-
-		 Restricted
funds
£
-
-
-		 2025
Total
£
6,967
210,636
217,603

Fund balances at 31 October 2024 are represented by:

Fixed assets
Net current assets
Total net assets		 Unrestricted
funds
£
13,541
186,928
200,469		 Designated
funds
£
-
-
-		 Restricted
funds
£
-
-
-		 2024
Total
£
13,541
186,928
200,469

31