**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:
- a quarterly review of the risks the charity may face;
- the establishment of systems and procedures to mitigate those risks identified in the plan; and
- the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.
The principal risks faced by the charity relate to financial sustainability and loss of key personnel. The trustees keep these risks under regular review.
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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:
- to promote, maintain, improve and advance the education of the public in the arts and in particular orchestral and choral music; and
- the development of public appreciation of such art by public performances.
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:
- seek financial stability – especially with own-promoted concerts in the Choral Pilgrimage
- examine The Sixteen's organisational structure and location of offices
- develop new ways of interacting with audiences
- work with young performers to identify and nurture the next generation of singers and conductors, diversifying the talent pipeline
- develop meaningful and lasting engagement with communities across the UK, inspiring children and young people through singing and creating clear pathways into lifelong musical participation
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:
- Introduce people of all ages and backgrounds to The Sixteen's choral heritage and the transformative power of singing.
- Inspire creativity, confidence and self-expression through high-quality participatory musical experiences.
- • Deliver meaningful engagement opportunities in the communities where The Sixteen performs, enriching audiences' understanding of the music and creating lasting cultural impact beyond the concert hall.
- Increase access to world-class choral music for children, young people and adults who have limited opportunities to engage with this repertoire, with a particular focus on schools, community groups and amateur singers.
- Develop long-term relationships with communities across the UK, encouraging lifelong participation in singing and widening access to exceptional musical experiences.
- Create inclusive pathways for talented young singers from diverse backgrounds to develop their skills and progress towards professional ensemble singing through the Genesis Sixteen programme and wider talent development initiatives.
- Support the artistic and professional development of The Sixteen's freelance singers and instrumentalists by providing opportunities to train, mentor and lead learning and participation activities.
- Champion singing as a powerful means of fostering wellbeing, connection, creativity and belonging within communities across the UK.
## **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.
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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.
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## 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:
- Select suitable accounting policies and apply them consistently;
- Observe the methods and principles in the Charities Statement of Recommended Practice;
- Make judgements and accounting estimates that are reasonable and prudent;
- State whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements, and;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
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:
- There is no relevant audit information of which the charity’s auditor is unaware, and;
- The Trustees have taken all steps that they ought to have taken to make them aware of any relevant audit information and to establish that the auditor is aware of that information.
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
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## 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:
- give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31 October 2025 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
## **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.
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## 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:
- the information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the trustees’ annual report has been prepared in accordance with applicable legal requirements.
## **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:
- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Trustees’ Annual Report and from preparing a strategic report.
## **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.
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## 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:
- Enquiry of management, those charged with governance and the entity's solicitors (or in-house legal team) around actual and potential litigation and claims;
- Reviewing minutes of meetings of those charged with governance;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
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
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## 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**|**year**5|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.
- The Choral Pilgrimage Funds were established after gifts were received to contribute to the costs of performances in the series of Choral Pilgrimage.
- The Educational Chorister Fund was established after gifts were received to contribute to the costs of educational projects.
- Other restricted funds were gifts to use towards the Choral Odyssey 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