```
REGISTERED COMPANY NUMBER: 02215790 (England and Wales)
REGISTERED CHARITY NUMBER: 800541
```
## **`NEW LONDON ORCHESTRA LIMITED`**
```
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
```
```
Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ
```
```
NEW LONDON ORCHESTRA LIMITED
```
## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020`**
||**`Page`**|**`Page`**|**`Page`**|
|---|---|---|---|
|**`Report of the Trustees`**|`1`|`to`|`3`|
|**`Independent Examiner's Report`**||`4`||
|**`Statement of Financial Activities`**||`5`||
|**`Balance Sheet`**||`6`||
|**`Notes to the Financial Statements`**|`7`|`to`|`12`|
|**`Detailed Statement of Financial Activities`**||`13`||
```
NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)
```
## **`REPORT OF THE TRUSTEES`**
## **`FOR THE YEAR ENDED 31 AUGUST 2020`**
```
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31August2020.The trustees
haveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Mission Statement`**
```
ThemissionoftheNewLondonOrchestraistobethemostadventurousandinnovative chamber
orchestrainLondon,broadeningtheaudienceformusicandtheartsbyplacingeducationattheheart of
allitsactivities.ThroughAdventuresinMusic®,theOrchestrawillcontinuetodevelop creative
partnerships, promote excellence, and display artistic integrity.
```
## **`Objectives of the charity`**
```
TheobjectivesofthecharityaretoadvanceeducationforthebenefitofthepublicinMusicandthe Arts
bypresenting,promoting,organising,providing,managingandproducingconcertsandother events.
These have been the principal activities of the company since incorporation.
```
## **`Public benefit`**
```
TheTrusteesconfirmthattheyhavehaddueregardtotheguidancepublishedbythe Charity
Commission on public benefit.
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Management team & office`**
```
Ian MacGregor continues to act as General Manager this year on a part-time basis.
```
```
AteamofexternalserviceproviderssupportedIan.Theywere:AndrewBentley(Payroll Supervisor),
ColinAlexander(OrchestraFixer),LeeStephenson(MusicLibrary),TimEllerby(IT).Theoffice provided
administrationservicestotheorchestra'sArtisticDirector,RonaldCorp,inhiscapacityasa composer
and conductor.
```
```
Inordertokeeptheon-goingoverheadcoststoaminimum,theorchestracontinuedtobe managed
from the home of the General Manager.
```
## **`Concerts and recordings`**
## **`Choral Performances`**
```
Theorchestra'sperformanceswithourassociatedchoralsocietiesthisyearwereadverselyaffected by
thecoronaviruspandemic,withtwoperformancesinMarchbeingcancelled.Duetothelatenoticeof the
cancellationoftheHighgateChoralSocietyconcert,wewereveryfortunatethatthechoirpaid the
invoice.HowevertheLondonChoralSocietyconcerthasstillnotbeenre-scheduled.Wedidgive one
concert in November 2019 before the lockdown which was BACH Christmas Oratorio.
```
## **`Recordings`**
```
InJanuary2020werecordedaworldpremiereofJOHNTAVENER'sPalintroposatSt. Jude-on-the-hill
withthesensationalyoungJapanesepianistARUHI.ThealbumwasreleasedinOctober2020to critical
acclaimalongwithAllThingsInTimeandSpacebyMICHAELSTEWARTforanewrecordlabelA Flock
Ascending.
```
```
Astheorchestrawasunabletoperformduetocoronavirusrestrictions,werecordedaseriesof videos
providinganinvaluablefreeresourceforschools.Thesevideosintroducethestudentstothe instruments
oftheorchestra.EachvideoispresentedbyanNLOplayerandRonaldCorp,andatonly3.5 minutes
long is perfect for use in the classroom. The videos have been much appreciated by teachers.
```
```
Page 1
```
```
NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020`**
## **`Developing Our New Artistic Vision`**
```
ThemainpartofourArtisticVisionweareseekingtodevelopistopromotecontemporaryclassical music
toayoungaudienceandthemusicoflessknowncomposers.Wearecurrentlyworkingonaproject for
2023celebratingfourtwentieth-centurywomencomposers.TheseriesisacollaborationwithDr Leah
Broad,ahighlyrespectedjuniorresearchfellowatOxford,whoiswritingabiographyofthefourto be
publishedbyFaberin2023.Weareplanningtogivefiveconcertsfeaturingthemusicofthese composers
with contextualised works of their contemporaries, with short linking narration from Leah.
```
## **`FINANCIAL REVIEW`**
```
Thecharitycontinueskeeptheadministrationcoststotheminimumandsowehavebeenable to
manage the orchestra without any support from Arts Council England.
```
```
ThegenerousgrantfromtheGarfieldWestonFoundationoverthreeyearswhichwereceivedlast year
continuestogivetheorchestrathefinancialsecurityinthenearfuturewhichhasenabledustoplan our
future despite the uncertainties from the coronavirus pandemic.
```
```
Thecharity'sintentionistoincreasethelevelofreservessothatthebasicadministrationfunctions can
carry on without any financial risk. Any surplus reserves will be used to increase the number of concerts.
```
```
Wecontinuetohavethesupportofsomegenerousindividuals,whichenablesustocontinuetomeet our
liabilitiesuntilsuchtimeasalternativelong-termfundingsourcesarefound.Withthissupportin mind
alongwiththegrantfromtheGarfieldWestonFoundation,weconsidertheuseofthegoing concern
assumption to be appropriate.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimited company,
limited by guarantee, as defined by the Companies Act 2006.
```
## **`Organisational management`**
```
TheBoardofTrusteesarelegallyresponsiblefortheoverallmanagementandcontrolofthe charitable
company.Decision-makingislargelydonebytheManagementofthecompany,withimportant decisions
ofapolicyorfinancialnaturebeingmadebytheBoardofTrustees.TheBoardofTrusteesmeets a
minimum of 3 times every year.
```
```
The Board of Trustees is chaired by Jonathan White.
```
```
ExpansionoftheBoard,especiallyfromthecorporatesector,isongoing.Possiblecandidatesare selected
onrecommendationsfromtheexistingBoardmembers,andameetingisheldwiththeChairman and
Artistic Director to confirm the suitability for the Board.
```
```
The members of the Management and Advisory Council during the year were as follows:
```
## **`Management`**
```
Ronald Corp - Artistic Director & Chief Executive
Ian MacGregor - General Manager
```
## **`Advisors`**
```
Andrew Bentley - Consultants Concerts Manager
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Registered Company number`**
```
02215790 (England and Wales)
```
## **`Registered Charity number`**
```
800541
```
```
Page 2
```
```
NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)
```
## **`REPORT OF THE TRUSTEES`**
## **`FOR THE YEAR ENDED 31 AUGUST 2020`**
```
Registered office
Landgate Chambers
Rye
East Sussex
TN31 7LJ
Trustees
D I Blagbrough Education Director
Prof I D L Bogle University Professor
J P R White Legal Adviser
Company Secretary
Rev R G Corp
```
```
Independent Examiner
K M Luck FCA
Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ
```
```
ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompanies Act
2006 relating to small companies.
```
```
Approvedbyorderoftheboardoftrusteeson.............................................andsignedonits behalf
by:
```
```
.......................................................
J P R White - Trustee
```
```
Page 3
```
```
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)
```
```
Independentexaminer'sreporttothetrusteesofNewLondonOrchestraLimited ('the
```
## **`Company')`**
```
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 August 2020.
```
## **`Responsibilities and basis of report`**
```
Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').
```
```
HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16 of
the2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutundersection145oftheCharitiesAct2011('the2011Act').In carrying
outmyexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionundersection 145(5)
(b) of the 2011 Act.
```
## **`Independent examiner's statement`**
```
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentionin connection
with the examination giving me cause to believe:
```
`1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or`
`4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).`
```
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
```
```
K M Luck FCA
Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ
```
```
Date: .............................................
```
```
Page 4
```
```
NEW LONDON ORCHESTRA LIMITED
```
## **`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2020`**
|`Unrestricted`
`Restricted`
`fund`
`funds`
`Notes`
`£`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`1,276`**
**`22,000`**
**`Charitable activities`**
`4`
`Orchestra and concert performances`
**`22,215`**
**`-`**
`Other trading activities`
`3`
**`2,465`**
**`-`**
**`Total`**
**`25,956`**
**`22,000`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`5`
`Orchestra and concert performances`
**`32,286`**
**`10,000`**
**`NET INCOME/(EXPENDITURE)`**
**`(6,330)`**
**`12,000`**
**`Transfers between funds`**
`14`
**`12,000`**
**`(12,000)`**
**`Net movement in funds`**
**`5,670`**
**`-`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`13,946`**
**`-`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`19,616`**
**`-`**|**`2020`**
**`Total`**
**`funds`**
**`£`**
**`23,276`**
**`22,215`**
**`2,465`**
**`47,956`**
**`42,286`**
**`5,670`**
**`-`**
**`5,670`**
**`13,946`**
**`19,616`**|`2019`
`Total`
`funds`
_`£`_
`42,732`
`37,718`
`3,696`|
|---|---|---|
|||`84,146`
`81,558`|
|||`2,588`
`-`|
|||`2,588`
`11,358`|
|||`13,946`|
```
The notes form part of these financial statements
```
```
Page 5
```
```
NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)
```
## **`BALANCE SHEET`**
## **`31 AUGUST 2020`**
|`Unrestricted`
`Restricted`
`fund`
`funds`
`Notes`
`£`
`£`
**`CURRENT ASSETS`**
`Debtors`
`12`
**`6,334`**
**`-`**
`Cash at bank`
**`21,062`**
**`54,000`**
**`27,396`**
**`54,000`**
**`CREDITORS`**
`Amounts falling due within one year`
`13`
**`(7,780)`**
**`(54,000)`**
**`NET CURRENT ASSETS`**
**`19,616`**
**`-`**
**`TOTAL ASSETS LESS CURRENT`**
**`LIABILITIES`**
**`19,616`**
**`-`**
**`NET ASSETS`**
**`19,616`**
**`-`**
**`FUNDS`**
`14`
`Unrestricted funds`
**`TOTAL FUNDS`**|**`2020`**
**`Total`**
**`funds`**
**`£`**
**`6,334`**
**`75,062`**
**`81,396`**
**`(61,780)`**
**`19,616`**
**`19,616`**
**`19,616`**
**`19,616`**
**`19,616`**|_`2019`_
_`Total`_
_`funds`_
_`£`_
_`4,469`_
_`50,953`_
_`55,422`_
_`(41,476)`_
_`13,946`_
_`13,946`_
_`13,946`_
`13,946`
`13,946`|
|---|---|---|
```
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the year ended 31 August 2020.
```
```
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.
```
```
The trustees acknowledge their responsibilities for
```
- `(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and`
- `(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.`
```
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
```
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
```
```
.............................................
J P R White - Trustee
```
```
The notes form part of these financial statements
```
```
Page 6
```
```
NEW LONDON ORCHESTRA LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020`**
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'Accountingand Reporting
byCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheir accounts
inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting
StandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct2006.The financial
statements have been prepared under the historical cost convention.
```
## **`Income`**
```
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.
```
## **`Tangible fixed assets`**
```
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.
```
```
Computer equipment- 20% on cost
```
## **`Taxation`**
```
Thecharityisexemptfromcorporationtaxonitscharitableactivities.OrchestraTaxRelief was
introducedwitheffectfrom1April2016andthecharityistosubmitaclaimfortheyearwhich is
provided in these accounts and included in Other Debtors.
```
## **`Fund accounting`**
```
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the
charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular
restricted purposes.
```
## **`Debtors`**
```
Tradeandotherdebtorsarerecognisedatthesettlementamountdueafteranytrade discount
offered.Prepaymentsarevaluedattheamountprepaidaftertakingaccountofanytrade discounts
due.
```
## **`Creditors and provisions`**
```
Creditorsandprovisionsarerecognisedwherethecharityhasapresentobligationresultingfrom a
pasteventthatwillprobablyresultinthetransferoffundstoathirdpartyandtheamountdue to
settletheobligationcanbemeasuredorestimatedreliably.Creditorsandprovisionsare normally
recognised at their settlement amount after allowing for any trade discounts due.
```
## **`Financial instruments`**
```
Thetrustonlyhasfinancialassetsandfinancialliabilitiesofakindthatqualifyasbasic financial
instruments.Basicfinancialinstrumentsareinitiallyrecognisedattransactionvalue and
subsequently measured at their settlement value.
```
```
continued...
```
```
Page 7
```
```
NEW LONDON ORCHESTRA LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020`**
## **`2. DONATIONS AND LEGACIES`**
|`Unrestricted`
`funds`
`£`
`General donations and gifts including`
`gift aid`
**`1,276`**
`Garfield Weston Foundation`
**`-`**
`Charities Aid Foundation`
**`-`**
**`1,276`**
**`3.`**
**`OTHER TRADING ACTIVITIES`**
`Unrestricted`
`funds`
`£`
`Orchestra Tax Relief`
**`2,465`**
**`4.`**
**`INCOME FROM CHARITABLE ACTIVITIES`**
`Orchestra and concert performances`
**`5.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Orchestra and concert`
`performances`
**`6.`**
**`DIRECT COSTS OF CHARITABLE ACTIVITIES`**
`Musician fees`
`Music and instrument hire`
`Orchestral management fees`
`Retainers`
`Storage`
`Production`|**`2020`**
`Restricted`
**`Total`**
`funds`
**`funds`**
`£`
**`£`**
**`-`**
**`1,276`**
**`12,000`**
**`12,000`**
**`10,000`**
**`10,000`**
**`22,000`**
**`23,276`**
**`2020`**
`Restricted`
**`Total`**
`funds`
**`funds`**
`£`
**`£`**
**`-`**
**`2,465`**
**`2020`**
`Orchestra`
`and`
`concert`
`performances`
**`£`**
**`22,215`**
`Direct`
`Support`
`Costs (see`
`costs (see`
`note 6)`
`note 7)`
`£`
`£`
**`31,295`**
**`10,991`**
**`2020`**
**`£`**
**`17,298`**
**`807`**
**`1,500`**
**`10,000`**
**`690`**
**`1,000`**
**`31,295`**||_`2019`_
`Total`
`funds`
_`£`_
_`2,732`_
_`-`_
_`40,000`_
_`42,732`_
_`2019`_
`Total`
`funds`
_`£`_
_`3,696`_
_`2019`_
`Total`
`activities`
_`£`_
**_`37,718`_**
`Totals`
`£`
**`42,286`**
_`2019`_
_`£`_
_`26,080`_
_`2,940`_
_`1,700`_
_`40,000`_
_`670`_
_`-`_
_`71,390`_|
|---|---|---|---|
|||||
```
continued...
```
```
Page 8
```
```
NEW LONDON ORCHESTRA LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020`**
## **`7. SUPPORT COSTS`**
|**`SUPPORT COSTS`**||||
|---|---|---|---|
|||`Governance`||
||`Management`|`costs`|`Totals`|
||`£`|`£`|`£`|
|`Orchestra and concert performances`|**`6,891`**|**`4,100`**|**`10,991`**|
```
Support costs have been allocated entirely to orchestra and concert activities.
```
```
Support costs, included in the above, are as follows:
```
|**`2020`**
`Orchestra`
`and`
`concert`
`performances`
**`£`**
`Insurance`
**`600`**
`Other office costs`
**`351`**
`Professional fees`
**`5,940`**
`Accountancy and legal fees`
**`4,100`**
**`10,991`**|_`2019`_
`Total`
`activities`
_`£`_
**_`560`_**
**_`414`_**
**_`4,894`_**
**_`4,300`_**
**_`10,168`_**|
|---|---|
## **`8. NET INCOME/(EXPENDITURE)`**
```
Net income/(expenditure) is stated after charging/(crediting):
```
||**`2020`**|_`2019`_|
|---|---|---|
||**`£`**|_`£`_|
|`Independent examination`|**`1,200`**|_`1,200`_|
|`Accountancy`|**`2,900`**|_`3,100`_|
## **`9. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31August2020nor for
the year ended 31 August 2019.
```
## **`Trustees' expenses`**
```
Therewerenotrustees'expensespaidfortheyearended31August2020norfortheyear ended
31 August 2019.
```
## **`10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|`Unrestricted`
`Restricted`
`fund`
`funds`
`£`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2,732`
`40,000`
**`Charitable activities`**
`Orchestra and concert performances`
`37,718`
`-`
`Other trading activities`
`3,696`
`-`
**`Total`**
`44,146`
`40,000`|`Total`
`funds`
_`£`_
`42,732`
`37,718`
`3,696`|
|---|---|
||`84,146`|
## **`EXPENDITURE ON`**
```
continued...
```
```
Page 9
```
```
NEW LONDON ORCHESTRA LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020`**
|**`10.`**|**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**|**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**|**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**||
|---|---|---|---|---|
|||`Unrestricted`|`Restricted`|`Total`|
|||`fund`|`funds`|`funds`|
|||`£`|`£`|_`£`_|
||**`Charitable activities`**||||
||`Orchestra and concert performances`|`41,558`|`40,000`|`81,558`|
||**`NET INCOME`**|`2,588`|`-`|`2,588`|
||**`RECONCILIATION OF FUNDS`**||||
||**`Total funds brought forward`**|`11,358`|`-`|`11,358`|
||**`TOTAL FUNDS CARRIED FORWARD`**|`13,946`|`-`|`13,946`|
|**`11.`**|**`TANGIBLE FIXED ASSETS`**||||
|||||`Computer`|
|||||`equipment`|
|||||`£`|
||**`COST`**||||
||`At 1 September 2019 and`||||
||`31 August 2020`|||**`4,914`**|
||**`DEPRECIATION`**||||
||`At 1 September 2019 and`||||
||`31 August 2020`|||**`4,914`**|
||**`NET BOOK VALUE`**||||
||`At 31 August 2020`|||**`-`**|
||`At 31 August 2019`|||_`-`_|
|**`12.`**|**`DEBTORS: AMOUNTS FALLING DUE WITHIN`**|**`ONE YEAR`**|||
||||**`2020`**|_`2019`_|
||||**`£`**|_`£`_|
||`Trade debtors`||**`173`**|_`173`_|
||`Other debtors`||**`6,161`**|_`3,696`_|
||`Prepayments`||**`-`**|_`600`_|
||||**`6,334`**|_`4,469`_|
```
continued...
```
```
Page 10
```
```
NEW LONDON ORCHESTRA LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020`**
## **`13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|`Trade creditors`
`VAT`
`Accruals and deferred income`
**`MOVEMENT IN FUNDS`**
`Net`
`movement`
`At 1/9/19`
`in funds`
`£`
`£`
**`Unrestricted funds`**
`General fund`
**`13,946`**
**`(6,330)`**
**`Restricted funds`**
`Garfield Weston`
**`-`**
**`12,000`**
**`TOTAL FUNDS`**
**`13,946`**
**`5,670`**
`Net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Unrestricted funds`**
`General fund`
**`25,956`**
**`Restricted funds`**
`Charities Aid Foundation`
**`10,000`**
`Garfield Weston`
**`12,000`**
**`22,000`**
**`TOTAL FUNDS`**
**`47,956`**
**`Comparatives for movement in funds`**
`At 1/9/18`
`£`
**`Unrestricted funds`**
`General fund`
`11,358`
**`TOTAL FUNDS`**
`11,358`|**`2020`**
_`2019`_
**`£`**
_`£`_
**`3,236`**
_`7`_
**`344`**
_`1,269`_
**`58,200`**
_`40,200`_
**`61,780`**
_`41,476`_
`Transfers`
`between`
`At`
`funds`
`31/8/20`
`£`
`£`
**`12,000`**
**`19,616`**
**`(12,000)`**
**`-`**
**`-`**
**`19,616`**
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
**`(32,286)`**
**`(6,330)`**
**`(10,000)`**
**`-`**
**`-`**
**`12,000`**
**`(10,000)`**
**`12,000`**
**`(42,286)`**
**`5,670`**
`Net`
`movement`
`At`
`in funds`
`31/8/19`
`£`
`£`
`2,588`
`13,946`
`2,588`
`13,946`|
|---|---|
## **`14. MOVEMENT IN FUNDS`**
```
continued...
```
```
Page 11
```
```
NEW LONDON ORCHESTRA LIMITED
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020`**
## **`14. MOVEMENT IN FUNDS - continued`**
```
Comparative net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Charities Aid Foundation`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`44,146`
`(41,558)`
`2,588`
`40,000`
`(40,000)`
`-`
`84,146`
`(81,558)`
`2,588`|
|---|---|
```
The Restricted funds are for income received for a particular restricted purpose.
```
```
DuringtheyeartheCharitiesAidFoundationgranted£40,000forthepurposeofretaining the
servicesofMrRCorp.Thesumof£10,000waschargedduringtheyearandtherefore£30,000 is
carried forward on the Restricted fund at the year end.
```
```
AttheendofAugust2019theGarfieldWestonFoundationgranted£36,000tobespread over
threeyearstowardsthefutureplansofthecharity.Duringtheyearto31August2020 £12,000
hasbeenreleasedtowardsthecorecostsfortheyearand£24,000hasbeencarriedforward as
deferred income at the year end.
```
## **`Transfers between funds`**
```
Thesumof£12,000hasbeenreleasedfromtherestrictedfundinrespectoftheGarfield Weston
grant towards the core costs of the charity during the year ended 31 August 2020.
```
## **`15. RELATED PARTY DISCLOSURES`**
```
TheArtisticDirectorandChiefExecutiveMrRCorpwaspaid£10,000asaretainerduringthe year.
There was no amount outstanding at the year end.
```
```
The Hon. I MacGregor was paid £5,940 for consultancy fees during the year.
```
## **`16. COMPANY LIMITED BY GUARANTEE`**
```
NewLondonOrchestraisacharitablecompanylimitedbyguaranteeandaccordinglydoes not
have a share capital.
```
```
Everymemberofthecharitablecompanyundertakestocontributesuchamountasmay be
requirednotexceeding£1totheassetsofthecompanyintheeventofitsbeingwoundup while
he or she is a member, or within one year after he or she crease to be a member.
```
```
Page 12
```
```
NEW LONDON ORCHESTRA LIMITED
```
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020`**
|**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`General donations and gifts including gift`
`aid`
`Garfield Weston Foundation`
`Charities Aid Foundation`
**`Other trading activities`**
`Orchestra Tax Relief`
**`Charitable activities`**
`Orchestra and concert performances`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Charitable activities`**
`Musician fees`
`Music and instrument hire`
`Orchestral management fees`
`Retainers`
`Storage`
`Production`
**`Support costs`**
**`Management`**
`Insurance`
`Other office costs`
`Professional fees`
**`Governance costs`**
`Accountancy and legal fees`
`Total resources expended`
**`Net income`**|`2020`
`£`
**`1,276`**
**`12,000`**
**`10,000`**
**`23,276`**
**`2,465`**
**`22,215`**
**`47,956`**
**`17,298`**
**`807`**
**`1,500`**
**`10,000`**
**`690`**
**`1,000`**
**`31,295`**
**`600`**
**`351`**
**`5,940`**
**`6,891`**
**`4,100`**
**`42,286`**
**`5,670`**|`2019`
_`£`_
`2,732`
`-`
`40,000`|
|---|---|---|
|||`42,732`
`3,696`
`37,718`|
|||`84,146`
`26,080`
`2,940`
`1,700`
`40,000`
`670`
`-`|
|||`71,390`
`560`
`414`
`4,894`|
|||`5,868`
`4,300`|
|||`81,558`|
|||`2,588`|
```
This page does not form part of the statutory financial statements
```
```
Page 13
```