English Baroque Choir Annual Report & Unaudited Financial Statements Year Ended 31st July 2024 Registered Charity: 800398 English Baroque Choir Financial Statements for the Year Ended 31st July 2024 Contents Page Legal and Administrative DetaiIs Trustees, Report Statement of Trustees. Responsibilities Independent Examiner's Report Statement of Financial Activities 10 Balance Sheet Notes to the Accounts English Baroque Choir Financial Statements for the Year Ended 31st July 2024 Registered Address 6th FIOOT, Capithl Tower 91 Waterloo Road London SEI 8RT Trustees Ben Ka￿ (Chainnan) Kate Bone Ray Carlsoii Chris Siva-Prakasam Bankers TSB Bank plc 7 Highland Parade Barnet Hertfordshire EN4 ODA Independent Examiner Chaweevan Williams, FCCA Verdant Accountants Limited 20-22 Wenlock Road LondoftL NI 7GU Investment Managers M&G Group M&G House Victoria Road Chelmsford CMI IBF English Baroque Choir Financi21 Statements for the Year Ended 31st July 2024 TRUSTEES, REPORT The Trustees arc pleased to present their Report together with the financial stateinents for the year ¢nded 31 st July 2024. Trustees The Trustees are members of English Baroque Choir {'Ihe Choir" or 'lhe Charity" or "Ihe Tn]st") with the requisitc ability and time to be involved in the administration of the TrusL Appointments are conferred by the voting membership al ihe Annual General Meeting Principal activity The principal activity of the Charity is the perfom)ance of cla&si¢al chordl music. Objects The Objects of the Charity are for the public benefit and as set out in its Tn￿1 Deed are to proinote. maintain, improve and advance education of the public in the fields of choral music, church music, opera and other ¢l&ssical works and musical and vo(21 compositions of all kinds. Organisation (i) Membership The Charity is organised as an amateur choir with up to cighty auditioiied mernbe￿. Resular rehearsals are held to enable the perfornTrance of up to six conccrts per year. (il) Trustees and Committee The Trustees and a Committee administer the Choir. The Tn￿eeS and Cnmmittee are el￿ted from the membership by the membersbip at the Annual Genetal Meeting The TnJste&s and Committee consist of utpaid volunteers upon whom the Charity is dependent for its continued existence. Meetings are held at reg￿aT intervals and include consideration of filwicial resources and planning for fvture perfornww. (iii) PatroDs 2nd Sponsors The Charity, like most choirs, perfOrn￿ a repertoire of music that is necessarily dependent on the generosity and support of its Patrons and Sponsors. This is an important source of financial support for the Choir, particularly from sponsorship of specific concerts. Sponsorship income is also sought from Erdnt making bodies and b￿SinesseS to contribute towards the costs of major CODcerts or commissions of new M￿41t English Baroque Choir Financial Statements for the Year Ended 31st July 2024 TRUSTEES, REPORT (Continued) (iv) Volunteers The choir depends on a small number ofvolunteers, all ofwhom singing member& to organis4 coordinate, and admtnisler its activities, namely rehe2rsing and perfonning public concerts. These volunteers have the following main functions: Chairman, Concert Plamier. Tr￿Urer, Publicity Coordinator, Concert Manager, Tickets. MembershiplRecruitment, and Minutes Secretary. Reserves Policy The reserves policy of the Charity is to retain sufficient resources to provide adequate working capital and risk control for ils progrJmme of orchestral Concerts and musical events. Tlie Committee keeps under review the financial resources required for a provisional concert plan for the next three years. Concert Contingency Fund The Charity faces a small, but significaDt risk of a major shollfall of income on each coiicert it promotes. particularly from its more expensive orchestral concerts. The Charity designated a fund in 2000 10 eamiark5 rcsources in the event of an unexpected call oll funds. due lo an income shortfall or unbudgeled costs caused by a disruptive event (for ins￿]Ce a transport strike or adverse weather conditions) beyond the conlrol of Ihe Trustees. The fund is reviewed annually and is prinmrily represented by investments io Charifund income units and deposits at TSB Bank ple. General Fund The General Fund Provid￿ for all the working capital needs of the Charity, including deposits for futhre hire of concert venues. The size of this fijnd will necessarily fluctuate ea¢lJ year as concert results and ￿ndraiSing activitie5 are often unpredictsble. The main financial objective is to ensure that sufficient resources are always maintained to meet the budgeted costs of ￿tUre concerts and keep the Concert Contingency Fund fully funded. Financial Tesults The net result for the year was a sutplus of £7.880 (2023: deficit of £5.499). The Charity had nel assets of £36,576 at the year. Ivith thc applic4blc rcquiremeDt5 concerning rhe forn) and content of accounts s¢t out in the Charities (Accounts and Reports) Regulations 2008 other than any requiremenr that the accowits give a 'true and fair. view which is not a Matter considered as part of an independent examination. I have no ¢oucerDS and have come across no oth¢T ￿￿tt¢[S io connection with the exaMI￿tion to which attention should be drawn in this r¢port in order to enable a proper understanding of thc accounts to be reache Ch8weevan Williams, FCCA VerdanE Accountants Ltd 20-22 Wenlock Road London, Nl 7GU Date:21 May 2025 English Baroque Choir Financial Statements for the Year Ended 31st July 2024 STATEMENT OF FtNANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024 Unrestricted funds Deslgnated fund5 Total 2024 Total 2023 Income Note Donations 7,707 26,561 7,707 4,063 26,809 Tncome from charitable activities 26,561 Investment income 605 605 587 Total 34.872 34.872 31.459 Expenditure Raising fun(ts Charitable activities (1262) 26,638 (1,262) (1.517) 34.910 26.638 Total 27,901) 27.901 36,427) Net gainsl(losses) on investrnents 908 908 (531} Net In¢ome/(expenditure} 7,880 7,88 {5,499) Transfers bchveen funds (1,200) 1.2(N) Net movement in funds &68 1.200 7.880 5.499 Reconciliation of funds: Total funds brought fonvard Net movement in funds 12 15.396 13.300 28,696 34.195 6.680 1.200 7.880 5,499 Total funds carried fonvard 12 14.500 36.576 All income and expenditure derive from continuing activities. The Statement of Financial Activiti&s includ&% all gains ￿]d losses ￿EniSed in the year. io English Baroqiie Choir Financial Sitatcments for the l.ear F.nded 31sl July 2024 BALANCE SHEET AS AT 31 JULY 2024 No¢e5 2024 2023 Fixed a$5ets Investments 10.905 10,057 Current H55et$ Debiors io 3.416 Cash al bank and in hand 16.975 ?6.856 19,609 Creditors: Amount5 falling due Th'i¢hin on¢ )tar (1 ?45) 1970) Net cutrent a5sels 18,639 TolAI llet g$set5 Ihe ￿ndS of the eharity: Unre5triLled funds Designated Fund Total th4ritv funds 12 12 15.396 14.500 36.576 The allached notes form artr inlegral part ofthis BalanLC Sheet and should be read in conjunction therewith. The acLounis were approved by the Trus(ces on 15 April ?025. Ray Carlson 'rrusiee and'freasurer English Baroque Choir Financial Statements for the Year Ended 31st July 2024 NOTES TO THE ACCOUNTS l. Accounting policies Charfty information English Baroque Choir is a Charitable Incorporated Organizalion ('£TO"). fomierly English Baroque Choir Limited, a private company limited by guarnutee iiicorpornted iii England and Wales, having its registered office at 6th F]oor. Capitsl Tower, 91 Waterloo Roa(L London SEI 8RT. The application to convert to a CIO approved by the Charity Commis5ioiI on 8 April 2025. 1.1 Basis of preparation The accounts have been prepared in accordance with 'Accounting and Reporting by Charities" the Sialernenl of Recomniended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounling periods commencing from l January 2019). The chaTity is a Public Benefit Entity as def￿ed by FRS I￿. The charity has taken advantage of the provisions in the SORP for charitie5 applying FRS 102 Update Bullelin I not to prepare a Ststement of Cash Flows. The financial statements are prepared in sterling, which is the fi￿dional curTaJCy of the charity. Monetary amounts in tiiesc financial ￿ateMen1S are rounded to the nearest £. 1.2 Historlcal Cost convention The financial statements have been prepared under the historical cost conventioii with items recognised at cost or transaction value unless othcnvise stated in the relevant notes to thc5e accounts. The principal accounting policies adopted arc set out below. 1.3 Going concern At the time of approving the financial ststements. the trustees have a reasonabl¢ expectation that the charity has adequate resources to continue in operational existence for the foresccable fuMre. Thu5 the t￿Stee$ Continue to adopt the going concern basis of accounting in preparing Ihe financial staiements. 1.4 Charitable fund Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific coiiditions by donors as to how they may be used. The purposes and uses of the r&8trActed funds are set out in tlie notes to the financial statements. Designated Funds foTm part of the Gcneral Funds of the ChaTity. The Charity designates a Fund to account for transactions and res(KJrces that have been earn?arked for a specific purpose." 12 English Baroque Cholr Financial Statements for the Year Ended 31st July 2024 NOTES TO THE ACCOUNTS (Continued) 1.5 Income (i) Subscription& eon¢ert receip￿ sponsorshtp and doDations All income is reported gross on an accruals basis except where conditions for receipt have not been mel or receipt is not reasonably cert2iD. Subscriptions are stated net of remtssions aild provisions for doubtful debts. Sponsorship income received in advance for a concert is deferred to the period in whTcli the event takes place. Services donated free of charge are grossed-up within donations and a corresponding expense reported in the appropriate e05t category. with the exception of time provided by the members. (li) Fundraising Fundraising is stat¢d net of a&w¢iated expenses. J.6 Expenditure Expellditt￿e is recognised once there is a legal or constructive obligation to make a paymeiit to a Ihird party, it is probable that settlement will be required and the amount of the obligation can be measur¢d reliably. Expenditure is ¢las5ified under th¢ following activity headings.. Costs of rdiqing funds comprise the costs of operating fundraising events and attracttng grants and donations no support cost are allocated to this heading as the estimated usage of such overheads is not significant. Expenditure on ¢harttable activities includes the costs of providing the activities of the Choir, including the costs of rehearsals. and their associated support costs. Support and governance cost represents costs of operdting thc charAty and complying witli charity regulations. Irrecoverdble VAT is charged as a cost against the activity for which the expenditu￿ w&8 inCu￿e