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2021-05-31-accounts

REGISTERED COMPANY NUMBER: 01128463 (England and Wales)

REGISTERED CHARITY NUMBER: 503675

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Report of the Trustees and Financial Statements

For The Year Ended 31 May 2021

for

The Manchester Camerata Limited

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Mitten Clarke Audit Limited Statutory Auditor St George’s House 56 Peter Street Manchester M2 3NQ

The Manchester Camerata Limited

Contents of the Financial Statements For The Year Ended 31 May 2021

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Page
Report of the Trustees 1 to 9
Report of the Independent Auditors 10 to 12
Statement of Financial Activities 13
Statement of Financial Position 14
Statement of Cash Flows 15
Notes to the Statement of Cash Flows 16
NotestotheFinancialStatements 17 to 23

The Manchester Camerata Limited

Report of the Trustees For The Year Ended 31 May 2021

The trustees are pleased to present their annual report together with the financial statements of the charity for the year ending 31 May 2021 which are also prepared to meet the requirements for a directors’ report and accounts for Companles Act purposes. The financlal statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

Chalr's report

The Impact of Covid 19 resulted in an Inability to perform live music and deliver work in our community settings. The focus of the Board was on survival and how best to support our employees and large number of freelance musicians. The measures put in place by the government allowed us to furlough staff and the support of the Arts Counci! gave us space and finance to innovate our means of delivery and pay freelance musicians and technicians. We were able to develop our on-line digltal presence through high quallty recorded performances. We ralsed funds for a new series of digital work, Untold, where the impact of music on individuals Is told in a unique way. We also developed and delivered on-line material for schools and our existing care home partners.

The uncertainty over when lIlve performances would be allowed placed a tremendous pressure on all the team but a clear focus was maintained on being ready for when performances were ready. Our relationships with promoters in many ways deepened through our active engagement with them. There was of course tremendous joy when we did perform for the first time to a five audience In Leeds Town Hall In October 2020. The move to the Monastery in Gorton went extremely well and has offered up tremendous opportunities to enhance our relatlonship with the local community. We have established new working partnerships and the innovative approach has received significant levels of media attention. We came out of the lock down period with new means of dellvery, new community relationships, a strong future performance schedule, a greater media presence and a renewed sense of purpose. None of this would have been possible without a committed team focussed on the impact that Manchester Camerata has on the communities and audiences it serves. I thank all the team and all our funders, patrons and supporters,

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Steve Dauncey

Chair

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The Manchester Camerata Limited

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Report of the Trustees For The Year Ended 31 May 2021

OBJECTIVES AND ACTIVITIES Our purpose and activities

The purpose of the charity Is:

To promote, maintain, improve and advance education particularly by the production of concerts, operas, recitals, educational plays and the encouragement of the arts, including the arts of drama, mime, dance, singing and music, and to formulate, prepare and establish schemes therefore, provided that all objects of the Company shall be of a charitable nature.

The vision that shapes our annual activities:

Vision - ‘Redefine what an orchestra can do’.

Purpose - ‘To create inspiring experiences through music that connect everyone, every time and promote social change’

In shaping our objectives for the year and planning our activities, the trustees have considered the Charlty Commission’s guidance on public benefit, including the guidance ‘public benefit: running a_ charity (PB2)’. We rely on grants and the income from fees and charges to cover our operating costs. All activities are planned and created with the needs of our community and public in mind. We actively engage with underserved and diverse communities to offer the benefits of participation and attendance at our activities and to attend our events. What we offer is non-exclusive and our work takes place in schools, concert halls, care homes, nightclubs, universities, open outdoor spaces and to a broad range of people.

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

  1. ‘Innovate, experiment and disrupt accepted practices in how we create and produce work’ - presentation of a very wide varlety of music making activities - concerts involving 4 ~ 80 musiclans In both traditional and non-traditional venues. 2. ‘Engage underserved & diverse communities, be a leader in health & wellbeing’ - this includes both concert activities and our community programme - CItC, which uses creative compositlon workshops and music therapy to make a positive impact on people’s Ilves. Much of the CitC work is evaluated & researched.

3, Increase resilience of finances & people. Critical to achieving our plans will be a revised and ambitious funding strategy which has identified the need to fund our activity and impact In a more sustainable way. Achieving this will be a team effort from like-mlnded partners and funders.

  1. Raise influence & profile of MC; Deliver a three-phase social impact plan In our communitles, beginning in Gorton, to scale up activity across all 10 GM boroughs - first phase 2021-2024 - 3 GM boroughs

we are focusing on activities which can scale up to extend our reach into new audiences and communities and raise our profile,

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The Manchester Camerata Limlted

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Report of the Trustees For The Year Ended 31 May 2021

OBJECTIVES AND ACTIVITIES

Our achlevements

The year started with the uncertainty faced by the Covid-19 Pandemic and restrictions on daily life. Naturally there was a sustained impact on our business: the restrictions on paying audiences to attend events and on our community work to go into schools and care settings where we traditionally make an impact.

The Manchester Camerata Ltd, Board and Executive team approach was however to focus on making the artistic and social impact that our audiences, partners and freelance musicians needed.

The outcome of this was a refocussed Strategic Plan (2021-24), which included:

In November 2020 we rebranded the organlsation, informed by consultatlon and work on ‘our purpose’ towards the end of 2019. A refreshed, digitally driven approach, a new website and logo plus the appointment of both a new Communications officer and PR team brought the organisation's appearance and external communications into sharp alignment with our updated contemporary and creative vision for an orchestra.

Our positive approach and outlook could not negate the huge challenges met by our freelance musicians, many of whom suddenly found themselves without work and income. In turn, the staff team were under great pressure to secure funds and work, as well as maintaining their many relationships with education networks, community and health service providers, care homes, university partners, concert halls, artists, promoters, festivals, audiences and donors and patrons.

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In July, we took the difficult decision to make three members of our staff team redundant, mirroring the sudden drop in work for our players. We applied for an ACE CRF grant of £230,000, which was awarded in October 2020. This allowed us to plan a live/online blend of promoted activity. This - along with other large-scale, engaged work - meant we reached 1.27 million people in 2020-2021. The strict Covid safety policy and reglme enforced by the Executive team meant that ail events proceeded without any of our musicians contracting Covid-19. 7 One key output for the Concerts team in thls perlod was a new digital format product called ‘Untold’. The purpose of this was to tell personal stories, all with universally relevant themes. A six-part series concept : was formed, and a subsequent fundraising campalgn successfully achieved Its initial stage goal, allowing | production of the first episode - ‘Untold: Caroline’ - to proceed. This episode focussed on an LGBTQ+ story centred around our newly appointed orchestral leader, Carollne Pether, and was produced by award-winning documentary maker Paul Sapin with text written by the Scottish poet laureate, Jackie Kaye. It had its premiere online in October, with further episodes being developed for the remainder of Caroline directing the orchestra and a commission from Daniel Kidane (Last Night of the BBC Proms | 2021. Further performance projects with our partners - AMC Gospel choir, saxophonist Jess Gillam, featured composer) - reached strong audiences online via the streaming platform Virtual Circle and across all social media channels, as well as broadcasts on BBC Radio 3. Two online Haclenda Classical events were aired in June and December 2020 and reached huge audiences, contributing to our audience reach of 1.27 milllon, Live engagements In Leeds Town Hall and Kendal in October were important moments for the musicians, who celebrated thelr return to live performance after the pandemic. These events were also filmed for future use. Maintaining relationships with our audience and promoters remained a key activity for the team, and in particular rescheduling postponed work, and thls included work with Nevil Holt Opera in June 2021, using an innovative outdoor set, a ground-breaking new binaural sound system and a major new commisston for the Manchester International Festival for July 2021.

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The Manchester Camerata Limited

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Report of the Trustees For The Year Ended 31 May 2021

OBJECTIVES AND ACTIVITIES

Throughout 2020, our Community team quickly adapted all activity for online delivery. In schools, film resources were provided for primary teachers, music and songs were created over Zoom for pupils in more than 30 schools, facilitated by our composers, which were then filmed and performed by our musicians at concert venues.

A central part of our Strategic Plan was the formation of a Social Impact Plan. This plan is a 10-year vision to reach children and people with dementia living in ail 10 boroughs of Greater Manchester through music-making. The plan’s model is simply to consult with partners in each borough, find collaborative activity they need and want, and to create activity that impacts positively upon the participants and community. The activity will be based on the research and evaluation of our previous long-term successes in the same field during the last 10 years, and will be funded through public, private and local authority partnershlps at a total cost of £1.5 million. The first 3 years’ focus on three Greater Manchester boroughs and begins In our new base in Gorton. We were awarded an Innovate UK grant to adapt Music in Mind (our dementia-music therapy programme) for online use In order to continue delivering its benefits for those in care settings. The successes of Music in Mind continued by being awarded a second 4-year PhD study with the University of Manchester into the ‘In the moment’ benefits of music for those living with dementia from the Economic and Social Research Council. To complement this, a second application was made to the National Institute for Health Research to research the impact of the Music in Mind programme on carers. International interest increased in the programme, with partners from Japan, China, South Korea, Hong Kong and Sweden and the USA learning more about our work, cementing our leading role internationally in the fleld of music and dementia research. Support in developing the remote verslon of Music in Mind came from the University of Manchester’s Innovation Factory. This led to the formation of a new joint venture and comprehensive business plan to secure the Music in Mind programme’s future development.

The organisation also saw several important pollcy changes during this period, which drew elements of our activity even closer together. Our Equality, Diversity and Incluslon policy focussed the whole team on driving change to make our programme, communications and organisation better reflect the areas in which we live and the communities we serve. The musicians’ recrultment policy was rewritten to reflect these policy changes, which led to the Implementation of two industry-leading changes to the audition process: anonymised digital audio-only initial submissions and live improvisation session during the live audition with our lead music therapist (who is also our principal flautist), Improvisation is a key element of our Music In Mind methodology and, by Incorporating this technique into our recruitment process, we are increasing capacity withIn our organisation in order to fulfil the increasing demand for our music therapy-based work. The back drop for the 2021 - 2022 programme is the refreshed Strategic Plan for the period 2021 - 2024 - which highlights our alms to - make the powerful connections between people through the very high level and standards of our craft; increase access to music and the impact it makes on their health; and to nurture a culture with the courage to Jead ideas and drive change. The Concerts and Community programmes follow, with Communications and a Fundraising Strategy to support it. Particular areas of focus for our concert activity, will be reigniting confidence in live events, either promoted by Camerata Ltd, or engaged by external promoters. In addition, the huge digital reach we have achieved in 2020 (1.27 million people), will continue, particularly through further eplsodes of the new digital format series - Untold. Research and Development relationships with three higher education institutes will support us to gather data and evaluation, which in turn helps us refine and develop the programme. Our Community | activity is in four parts - Music and Dementia, Music in Schools, Research and development and 7 International work. Highlights of thls work are the award-winning Music in Mind music therapy 7 programme, a collaboration with the University of Manchester, which has attracted investment into : research from both the Economic and Social Research Council, and in a separate award the Natlonal | Instltute for Health Research. This also supports our ambitions to use digital solutions to reach more of | those In care, or those carling.

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The Manchester Camerata Limited

Report of the Trustees For The Year Ended 31 May 2021

OBJECTIVES AND ACTIVITIES

The Communications plan uses both local and national PR agencies to ensure the story of our impact is told clearly, and to more people. The Funding Strategy to support this work is ambitious, and over three years the funding requirement is £3.5 million. Detailed plans set out where this income will come from, and how we Intend to allocate the organlsations Executive team and MC Ltd board’s capacity to achieve It. Integral to the plan is the ongoing support of our partners at Art Council England, Greater Manchester Combined Authority and Manchester City counci!, to whom we are very grateful for their support during 2020 - 2021. We will work with them, and thelr key objectives to ensure that our plans are aligned and contributing to theirs as much as possible. Measured increases to organisational capacity in order to deliver the plan, and the 2020 - 2021 programme are in place, with agreed milestones monitored by the MC Board Ltd,

Public benefit

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The reporting to and evaluation by our public funders reflects that we are meeting their public benefit criteria. Our prime charitable activities are providing live music and delivering learning work in three different spheres: health, young people and schools. Typically our agreements with Public Funding bodies and Local Authorities include service level agreements and key performance indicators which are monitored regularly, The Board and management team are constantly seeking ways in which to increase the value and public benefit the organisation can dellver.

FINANCIAL REVIEW

Desplte the challenges of Covid restrictions we ended the year with Income of £1,1m. We were well supported by our public sector partners. Arts Council England, Manchester City Council, and AGMA all contributed grants to us during the year and have pledged to continue thelr support in the future. ACE in particular gave us extra support this year with over £320k of additional Covid related support as our usual engaged activities were severely restricted. Our work in the community has been well supported Including grants from Ellerman and Hamlyn foundations, Wellcome Trust and Kinder.

Investment powers and policy

The trustees, having regard to the liquidity requirements of operating the charity, have kept available funds in an interest-bearing deposit account. The invested funds held on deposit achieved an average rate of 0.05%. Sufficlent funds to run the company on a day to day basis are held in a NatWest current account.

Reserves policy and going concern

Reserves are needed to bridge the gap between the spending and receiving of income and to cover the costs of winding up the company if necessary. The trustees consider that the minimum level of free reserves as at 31 May 2021 would be £150k.

The Charity had £876k total reserves at 31 May 2021, £383k of which Is project Income committed to be spent within the next 12 months, a further £140k Covid recovery grant to be spent in June 21, £42k which is restricted, and £12k fixed assets leaving £299k of unrestricted reserves to carry us forward as venues slowly start to reopen. Our balance sheet remains strong, the trustees consider that adequate resources continue to be available to fund the activities of the company for the foreseeable future. The trustees are of the view that Manchester Camerata is a going concern. The net cash-inflow from operating activities of £399k for the charlty In 2021 reflected the cash collected upfront for our projects as usual but also the extra grant support for Covid which Is not all spent by 31 May 21.

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The Manchester Camerata Limited

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Report of the Trustees For The Year Ended 31 May 2021

PLANS FOR FUTURE PERIODS

Support from Arts Council England, Manchester City Council and Greater Manchester Combined Authority will continue to underpin our work in the community as well as our concerts and events.

We will look to work In new and safe ways with our players and audiences over the coming months to ensure we continue to deliver our objectives desplte the changing restrictlons we all work under. Camerata’s work in the community continues to grow the heaith aspect of our work, in particular dementia music therapy, "Music in Mind" and we are developing training programmes for care home staff as well as digital delivery via a new joint venture with Manchester University.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Manchester Camerata is a company limited by shares governed by its memorandum and articles of association dated 23 July 1973. It is registered as a charity with the Charity Commission.

Recrultment and appointment of new trustees A board development framework is used to identify skills and knowledge gaps on the board, and the processes by which we go about finding new trustees who can fulfil those gaps. New trustees are introduced to the existing trustees by the Chalr and a simple vote is taken by the Board to offer a position to the proposed new trustee. Trustee induction and tralning New trustees undergo an orientation to brief them on: their lega! obligations under charity and company law, the Charity Commission guidance on public benefit, and inform them of the content of the Memorandum and Articles of Association, the Board and decision-making processes,the business plan and recent financial performance of the charity. During the induction they meet key employees and other trustees. Trustees are encouraged to attend appropriate external tralning events where these will facilitate the undertaking of their role. Organisational structure The board of trustees, which must have at least two members, administers the charity. The board normally meets quarterly and there are working groups covering development, artistic delivery, and Camerata In the Community. 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 artistic performance related activity.

Related parties

None of our trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee or senior manager of the charity with a production company, contracted actor, performer or exhibitor must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were | reported, The charity has a close relationship with the Arts Council, Manchester City Councll and AGMA All | th reeemselvesorganisationstrustees.nominate representatives who regularly attend meetings of the board, but are not | | Pay pollcy for senior staff | The directors consider the board of directors, who are the charity’s trustees, and the senlor management | team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the company on a day to day basis. All directors glve of their time freely and no director received remuneration in the year. Details of directors’ expenses and related party transactlons are disclosed in note 16 to the accounts.The pay of the senior staff is reviewed annually. In view of the nature of the charlty, the directors benchmark against pay levels in other Orchestral organisations of a similar size run on a voluntary basis.

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The Manchester Camerata Limited

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Report of the Trustees For The Year Ended 31 May 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

The trustees have a risk management strategy which comprises:

In particular, internally, ensuring strong financial control and reporting has helped manage many financial risks, and a renewed focus on fundraising & engagements has supported key income streams. Staff capacity to deliver the plan remains a concern and work has begun to address this. Golng forwards, fundraising and staff capacity will become the priority considerations when revising the organisations Strategic Plan and any non-planned opportunities. This may mean reducing levels of activity and to mitigate against this we will revise targets on profit margins.

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Externally the market place for engaged activity remains an area for concern, with larger orchestras on permanent contracts able to undercut our fees. Audiences and the market for corporate support are also largely out of our direct contro! and need close monitoring and focused response from the board and team. End of year results which rely on these income streams have a direct impact on future planned activity, and this is considered at length by the Camerata Board each spring.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

01128463 (England and Wales)

Registered Charity number

503675

Registered office

The Monastery 89 Gorton Lane Manchester M12 SWF

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Trustees M G Emmerich (resigned 8.9.21) A D Spinoza (resigned 8.9.21) Mrs D A McLaughlin Mrs S P Early S B Dauncey Ms VL Makinson RA Kidd (resigned 8.9.21) Mrs J E Delfino (resigned 2.2.21) J G Batsleer Ms S DeMascia (reslgned 2.2.21) Ms R H Rushworth Ms S V Stubbs (resigned 22.6.21) Ms C Monk (appointed 8.10.21) Ms M Carr (appointed 8.10.21) Ms S Kennerley (appointed 8.10.21) Dr S Woods-Gallagher (appointed 7.10.21) Ms K Gabay (appointed 14.10.21) R Iqba} (appointed 1.11.21)

Company Secretary

Cc Pearson

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The Manchester Camerata Limited

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Report of the Trustees For The Year Ended 31 May 2021

REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

Mitten Clarke Audit Limited Statutory Auditor St George’s House 56 Peter Street Manchester . M2 3NQ

Bankers National Westminster Bank PLC 699 Wilmslow Road Didsbury Manchester M20 6NW

Chief executive

B Riley

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of The Manchester Camerata Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable jaw and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) Including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the Incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financtal statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose wlth reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularities.

In so far as the trustees are aware:

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The Manchester Camerata Limited Report ofthe Trustees For Tha Year Ended 31 May 2021

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 retating to small companies.

Approved by order of the board oF wusices on 145 February 2022 and signed on its behalf by:

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Report of the Independent Auditors to the Trustees of The Manchester Camerata Limited

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Opinion We have audited the financial statements of The Manchester Camerata Limited (the ‘charitable company’) for the year ended 31 May 2021 which comprise the Statement of Financial Activitles, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting pollcies. 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 Financial Reporting Standard 102 ‘The Flnancial Reporting Standard applicable in the UK and Republlc of Ireland’, In our opinion the financial statements: ~ give a true and fair view of the state of the charitable company’s affairs as at 31 May 2021 and of its 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’; and - have been prepared in accordance with the requirements of the Companies Act 2006.

Basls 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 Auditors’ responsibilities for the audit of the 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 financlal 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 basls for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the golng 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 uncertalnties relating to events or conditions that, individually or collectively, may cast significant doubt on the charltable company’s ability to continue as a going concern for a period of at least twelve months from when the financlal 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.

Other Information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to 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.

7 Matters on which we are required to report by exception : We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) | Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - the charltable company has not kept adequate accounting records; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit.

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Report of the Independent Auditors to the Trustees of

The Manchester Camerata Limited

Responslblilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities, 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 responslble for assessing the 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 charitable company or to cease operations, or have no realistic alternative but to do so,

Our responsibllitles for the audit of the financial statements

We have been appolnted as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder,

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materlal misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financlal statements.

The extent to which our procedures are capable of detecting irregularities, including fraud Is detailed below:

In preparation for our audit we Identified areas of laws and regulations which we considered could have a material effect on the financial statements. This informatlon was obtalned via discussions with management and from our general commercial and sector experience. The directors also provide us with written representation of all the key and fundamental industry specific laws and regulations with they are required to adhere to. These were then communicated to the whole of the audit team at our audit planning meeting.

As a charitable company, non-compliance with the Charities Act 2011, Companies Act 2006 and the conditions of government and non-government grant funding, in particular those linked to the covid-19 pandemic were assessed to be most relevant. Our audit procedures to respond to these risks included:

Despite appropriate planning and performing our work in accordance with Internationa! Auditing Standards, there are always Inherent limitations that non-compliance Is not detected. Non-compliance with laws and regulations is often further removed from the events and transactions reflected in the : financial statements and material misstatements due to fraud can be deliberately concealed from | auditors, for example through misrepresentation, forgery or collusion, A further description of our responsibllities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilitles. This description forms part of our Report of the Independent Auditors. |

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Report of the Independent Auditors to the Trustees of The Manchester Camerata Limited

Use of our report This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Mitton Clase Ard Ud ,

for and on behalf of Mitten Clarke Audit Limited Statutory Auditor Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 St George’s House 56 Peter Street Manchester M2 3NQ

Date: ...2.%...F@RWANM.....2022.,

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The Manchester Camerata Limited

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Statement of Financial Activities (Incorporating an Income and Expenditure Account) For The Year Ended 31 May 2021

2021 2020
Unrestricted Restricted Total Total
fund fund funds funds
Notes E £E £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 697,242 96,400 793,642 393,842
Charitable activitles 5
Box office income - promotions 1,150 - 1,150 69,170
Engagements
Learning and participation		 40,896
189,845		 -
49,970		 40,896
239,815		 426,989
169,155
Other trading activities 3 18,560 - 18,560 15,500
Investment income 4 60 - 60 538
Other income 27,898 - 27,898 64,732
Total 975,651 146,370 1,122,021 1,139,926
EXPENDITURE ON
Raising funds 6 54,403 - 54,403 79,319
Charitable activities 7
Learning and participation 37,244 181,775 219,019 327,181
Orchestral and related work
481,371 1,750 483,121 788,486
Total 573,018 183,525 756,543 1,194,986
NET INCOME/(EXPENDITURE) 402,633 (37,155) 365,478 (55,060)
Transfers between funds 15 (1,155) 1,155 - -
Net movement In funds 401,478 (36,000) 365,478 (55,060)
RECONCILIATION OF FUNDS
Total funds brought forward 433,094 77,914 511,008 566,068
TOTALFUNDSCARRIEDFORWARD 834,572 41,914 876,486 511,008

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The notes form part of these financial statements

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The Manchester Camerata Limited

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Statement of Financial Position
31 May 2024
2021 2020
Unrestricted Restricted Total Total
- fand fund funds funds
Notes £ E £ £
FIXED ASSETS :
Tangible assets 12 414,752 - 11,751 411,830
CURRENT ASSETS
Debtors 13 164,032 - 104,032 90,259
Cash at bank 794,058 41,914 835,972. 446,528
893,090 41,914 940,004 536,779
CREDITORS
Amounts falling due within one year 14 {75,269) - (75,269) (37,504)
NET CURRENT ASSETS 822,821. 41,914 SOL735 499,178
TOTAL ASSETS LESS CURRENT
LIABILITIES 834,572 41,914 876,486 512,008
NET ASSETS 834,572 41,914 876,486 511 008
FUNDS 15 .
Unrestricted funds 834,572 433,094
Restricted funds:
Restricted fund 41,914 77/914
TOTAL FUNDS 876,486 511,008
----- End of picture text -----

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

These financlal statements have been audited under the requirements of Section 145 of the Charities Act 2011.

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These financia}) statements have been prepared Jn accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for Issue on 15 February 2022 and were signed on its behalf by: . c ay R\ oe ee rt S B Dauncay- Trustee \ The nates form part of these financial statements

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The Manchester Camerata Limited

Statement of Cash Flows For The Year Ended 31 May 2021

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|||||||||| |---|---|---|---|---|---|---|---|---| |2021|2020| |Notes|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from|operations|1|398,581|(41,763)| |Net|cash|provided|by/(used|in)|operating|actlvitles|398,581|(41,763)| |Cash|flows|from|Investing|activities| |Purchase|of|tangible|fixed|assets|(9,189)|(6,274)| |Interest|received|60|538| |Net|cash|used|in|Investing|activities|(9,129)|(5,736)| |Change|In|cash|and|cash| |equlvalents|in the|reporting|period|389,452|(47,499)| |Cash|and|cash|equivalents|at|the| |beginning|of the|reporting|perlod|446,520|494,019| |Cash|and|cash|equivalents|at|the| |end|of the|reporting|period|835,972|446,520|

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The notes form part of these financial statements

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The Manchester Camerata Limlted

Notes to the Statement of Cash Flows For The Year Ended 31 May 2021

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

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|||||||| |---|---|---|---|---|---|---| |2021|2020| |£|£| |Net|income/ (expenditure)|for the|reporting|period|(as|per| |the|Statement|of|Financlal|Activitles)|365,478|(55,060)| |Adjustments|for:| |Depreciation|charges|9,268|9,434| |Interest|received|(60)|(538)| |(Increase)/decrease|in|debtors|(13,773)|84,586| |Increase/(decrease)|in|creditors|37,668|(80,185)| |Net cash|provided|by/(used|In)|operations|398,581|(41,763)|

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ANALYSIS OF CHANGES IN NET FUNDS

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||||||| |---|---|---|---|---|---| |At|1.6.20|Cash|flow|At|31.5.21| |£|£|£| |Net|cash| |Cash|at|bank|446,520|389,452|835,972| |446,520|389,452|835,972| |Total|446,520|389,452|835,972|

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The notes form part of these financial statements

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The Manchester Camerata Limited

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Notes to the Financlal Statements For The Year Ended 31 May 2021

  1. ACCOUNTING POLICIES

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Basis of preparing the flnanclal statements

The financla} statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with Accounting and Reporting by Charltles: Statement of Recommended Practice applicable to charitles preparing their accounts in accordance with the Financia! Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.

The financial statements have been prepared under the historical cost convention unless otherwise stated in the relevant accounting policy note(s).

Fundamental accounting concept and going concern

The accounts have been drawn up on a going concern basis. In common with many charities, the adoption of the going concern basis is dependent on the charity receiving adequate fundraising from voluntary income such as donations, legacies and grants. While the trustees recognise the uncertainties inherent in predicting the timing and level of future funding from income that is not yet assured, they believe that adequate funding will be secured from donations, legacies and grants. We continue to receive the full support of the bank, The accounts do not include any adjustments that would result if the going concern basis was not appropriate.

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Income

All income is recognised in the Statement of Financlal Activities once the charity has entitlement to the funds, it is probable that the income will be recelved and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or revenue ‘grants’ is recognised when the charity has entitlement to the funds, any performance conditions attached to the grant have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received received in advance of events and engagements or the provision of other specified services is deferred until the event is held or service is provided.

Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charlty to that expenditure, It is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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Allocation and apportionment of costs

Expenditure which Is charged on an accrual basis Is allocated between:

| Support costs are allocated to a particular activity. : Governance costs include audit fees and allocation

Governance costs include audit fees and allocation of costs relating to statutory compilance.

Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over Its estimated useful life. Fixtures & fittings and computer equipment - 33,3% on cost Computer software - 33,3% on cost

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The Manchester Camerata Limited

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Notes to the Financial Statements - continued For The Year Ended 31 May 2021

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

Individual fixed assets are capltalised where they are held for the purposes of carrying out the charity’s charitable actlvities, or for administrative purposes and are expected to be used during more than one accounting period.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specifled by the donor or when funds are ralsed for particular restricted purposes.

Further explanation of the nature and purpose of each fund is Included in the notes to the financial statements,

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2. DONATIONS AND LEGACIES

2. DONATIONS AND LEGACIES
2021 2020
£ £
Donations
Grants		 158,339
635,303		 120,385
273,457
793,642 393,842
Grants received, included in the above, are as follows: 2021 2020
£ £
Arts Council of England
Manchester Authorities		 464,026
48,240		 198,657
20,000
AGMA 73,067 54,800
585,333
ee		 273,457
3. OTHERTRADINGACTIVITIES
2021 2020
£ £
Sponsorships 18,560 15,500

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Notes to the Financial Statements - continued For The Year Ended 31 May 2021

4. INVESTMENT INCOME
2021 2020
£ £
UK Deposit account Interest 60 538
5. INCOME FROM CHARITABLE ACTIVITIES
2021 2020
£ £
Box office income - promotions 1,150 69,170
Engagements
Learning and participation		 90,866
239,815		 426,989
169,155
331,831 665,314
6. RAISING FUNDS
Raising donations and legacies 2021 2020
£ £
Staff costs 31,883 55,294
Sundries
Management and finance		 7,521
14,999		 7,393
16,632
54,403 79,319
7. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 8) Totals
£ £ £
Learning and participation 189,728 29,291 219,019
Orchestral and related work
357,577 125,544 483,121
547,305 154,835 702,140
8. SUPPORT COSTS
Governance
Finance Other costs Totals
E £ £ £
Learning and participation 13,008 11,279 5,004 29,291
Orchestral and related work
58,897 52,637 14,010 125,544
71,905 63,916 19,014 154,835

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The Manchester Camerata Limited

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Notes to the Financlal Statements ~ continued For The Year Ended 31 May 2021

9. NET INCOME/ (EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2021 2020
E £
Auditors’ remuneration 6,400 8,020
Depreciation-ownedassets 9,268 9,434

10. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 May 2021 nor for the year ended 31 May 2020.

Trustees* expenses

There were no trustees’ expenses paid for the year ended 31 May 2021 nor for the year ended 31 May 2020,

  1. STAFF COSTS
2021 2020
£ £
Wages and salaries 498,452 851,067
498,452 851,067

The average monthly number of employees during the year was as follows:

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2021 2020
Staff 10 11
No employees received emoluments In excess of £60,000.
Staff casts include players fees;
2021 2020
£ £
Staff Costs 275,079 313,410
Employers NI
Pension		 25,039
6,062		 29,090
6,941
Players Fees 192,272
501,626
a
498,452 851,067

The number of employees to whom retirement benefits were accruing was 10 (2020: 11).

The key management personnel of the charity comprises of the chief executive and finance manager. The total employee benefits of the key management personnel of the charity were £81,429 (2020: £81,212).

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The Manchester Camerata Limlted

Notes to the Financial Statements ~ continued For The Year Ended 31 May 2021

12. TANGIBLE FIXED ASSETS

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12. TANGIBLE FIXED ASSETS
Fixtures
& fittings
and
computer Computer
equipment software Totals
£ E £
COST
At 1 June 2020 43,910 10,597 54,507
Additions
Disposals		 9,189
(1,345)		 -
-		 9,189
(1,345)
At 31 May 2021 51,754 10,597 62,351
DEPRECIATION
At 1 June 2020 32,080 10,597 42,677
Charge for year
Eliminated on disposal		 9,268
(1,345)		 -
-		 9,268
(1,345)
At 31 May 2021 40,003 10,597 50,600
NET BOOKVALUE
At 31 May 2021 11,751 - 11,751
At 31 May 2020 11,830 - 11,830
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debtors 43,660 8,500
Other debtors - 1,530
Prepayments and accrued income 60,372 80,229
104,032 90,259
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20214 2020
£ £
Trade creditors 47,883 16,084
VAT 1,342 -
Accrued expenses
Deferred Income		 24,326
1,718		 19,799
1,718
75,269 37,601
—————_—— =

Deferred Income

Deferred Income comprises advanced ticket sales relating to future events and engagements.

2021 2020
£ £
Balance as at 1 June 2020 1,718 15,796
Amount released to income earned from charitable activities - (15,796)
Amount deferred in year - 1,718
Balance asat31May2021 1,718 1,718

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The Manchester Camerata LImlIted

  1. MOVEMENT IN FUNDS

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Notes to the Financial Statements - continued For The Year Ended 31 May 2021

MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.6.20 in funds funds 31.5.21
£ £ £ £
Unrestricted funds
General fund 433,094 402,633 (1,155) 834,572
Restricted funds
Restricted fund 77,914 (37,155) 1,155 41,914
TOTAL FUNDS 511,008 365,478 - 876,486
Net movement in funds, Included in the above are as follows:
Incoming Resources Movement
resources expended In funds
£ E £E
Unrestricted funds
General fund 975,651 (573,018) 402,633
Restricted funds
Restricted fund		 146,370 (183,525) (37,155)
TOTAL FUNDS 1,122,021 (756,543) 365,478
Comparatives for movement In funds
Net
movement At
At 1.6.19 in funds 31.5.20
E £ £
Unrestricted funds
General fund 457,154 (24,060) 433,094
Restricted funds
Restricted fund 108,914 (31,000) 77,914
TOTAL FUNDS 566,068 (55,060) 511,008
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
E £ £
Unrestricted funds
General fund 1,136,476 (1,160,536) (24,060)
Restricted funds
Restricted fund 3,450 (34,450) (31,000)
TOTALFUNDS 1,139,926 (1,194,986) (55,060)

The general funds are the charity’s reserves which are spent or applied at the discretion of the trustees in the furtherance of the charity’s purpose.

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The Manchester Camerata Limited

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Notes to the Financial Statements - continued For The Year Ended 31 May 2021

15. MOVEMENT IN FUNDS- continued

Restricted funds relate to the following indlvidual funds:

There were no related party transactions for the year ended 31 May 2021.

  1. LEGAL FORM

The charity is a charitable company limited by shares, registered in England and Wales, The charitable company has 100 £1 ordinary shares.

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