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 2024
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 2024
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Ronald Corp 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 13
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NEW LONDON ORCHESTRA LIMITED
RONALD CORP
FOR THE YEAR ENDED 31 AUGUST 2024
Itiswiththedeepestsadnessthatweannouncethedeathofourfounderandmusicaldirector, Ronald
Corp,on7thMay2025.Ronwasaninspirationalmusicianwhospenthislifepromotingneglected music
tonewaudiences.ThroughtheNewLondonChildren'sChoirhenurturedgenerationsofyoung musicians.
Hewasalsoaprolificcomposer,writingmajororchestralandchoralworks,aswellaschambermusic and
solo works. He leaves behind a truly remarkable legacy which the NLO will be proud to continue.
Page 1
NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31August2024.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),andLeeStephenson(MusicLibrary).Theofficeprovided administration
services to the orchestra's Artistic Director, Ronald Corp, in his capacity as a composer and conductor.
Inordertokeeptheon-goingoverheadcoststoaminimum,theorchestracontinuedtobe managed
from the home of the General Manager.
Concerts and recordings
Choral Performances
Theorchestracontinueditslong-standingrelationshipswithtwoofLondon'smajorchoralsocietieswith 6
concertsthroughouttheyear.TheHighgateChoralSocietyperformedMENDLESSOHN'sElijah,a concert
featuringworksbyPOULENC,BIZETandFAURÉ,andfinishedtheseasonwithaconcertofMOZART and
HAYDN.TheLondonChorusperformedBRAHMSGermanRequiemwithaLondonPremièreof RAND's
PianoConcertoNo.5.ThiswasfollowedbyaconcertfeaturingworksbyELGAR,HOWELLSand VAUGHAN
WILLIAMS, finishing the season with a performance of ELGAR's Dream of Gerontius in Cadogan Hall.
Inaddition,weperformedinafund-raisingconcertinaidofStLuke'sforClergyWellbeingatthe Temple
Church with a selection of pieces for string ensemble.
Developing Our New Artistic Vision
ThemainpartofourArtisticVisionweareseekingtodevelopistopromotecontemporaryclassical music
toayoungaudienceandthemusicoflessknowncomposers.Wearepleasedtocontinuepromoting the
works of John Rand and are planning a second concert featuring one of his Piano Concertos.
FINANCIAL REVIEW
Financial position
As at the balance sheet date the charity held reserves totalling £54,818 all of which were unrestricted.
Page 2
NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
FINANCIAL REVIEW
Thecharitycontinueskeeptheadministrationcoststotheminimumandsowehavebeenableto manage
the orchestra without any support from Arts Council England.
ThegenerousgrantfromtheGarfieldWestonFoundationoverthreeyearscontinuestogivethe orchestra
the financial security in the near future which has enabled us to plan our future over the coming years.
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
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
Page 3
NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
REFERENCE AND ADMINISTRATIVE DETAILS
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.
Approved by order of the board of trustees on 28 May 2025 and signed on its behalf by:
J P R White - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)
Independentexaminer'sreporttothetrusteesofNewLondonOrchestraLimited ('the
Company')
IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 August 2024.
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
28 May 2025
Page 5
NEW LONDON ORCHESTRA LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
726
Charitable activities
6
Orchestra and concert performances
57,164
Other trading activities
4
19,070
Investment income
5
49
Total
77,009
EXPENDITURE ON
Charitable activities
7
Orchestra and concert performances
65,619
NET INCOME
11,390
RECONCILIATION OF FUNDS
Total funds brought forward
43,428
TOTAL FUNDS CARRIED FORWARD
54,818 |
Restricted
funds
£
30,000
-
-
-
30,000
30,000
-
-
- |
2024
Total
funds
£
30,726
57,164
19,070
49
107,009
95,619
11,390
43,428
54,818 |
2023
Total
funds
£
45,874
19,406
6,892
- |
|
|
|
72,172 |
|
|
|
68,945 |
|
|
|
3,227
40,201 |
|
|
|
43,428 |
The notes form part of these financial statements
Page 6
NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)
BALANCE SHEET
31 AUGUST 2024
Unrestricted
Restricted
fund
funds
Notes
£
£
CURRENT ASSETS
Debtors
14
23,901
-
Cash at bank
36,138
30,000
60,039
30,000
CREDITORS
Amounts falling due within one year
15
(5,221)
(30,000)
NET CURRENT ASSETS
54,818
-
TOTAL ASSETS LESS CURRENT
LIABILITIES
54,818
-
NET ASSETS
54,818
-
FUNDS
16
Unrestricted funds
TOTAL FUNDS |
2024
Total
funds
£
23,901
66,138
90,039
(35,221)
54,818
54,818
54,818
54,818
54,818 |
2023
Total
funds
£
12,679
34,250
46,929
(3,501)
43,428
43,428
43,428
43,428
43,428 |
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the year ended 31 August 2024.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31 August 2024 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
28 May 2025 and were signed on its behalf by:
J P R White - Trustee
The notes form part of these financial statements
Page 7
NEW LONDON ORCHESTRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
1. STATUTORY INFORMATION
NewLondonOrchestraLimitedisacharitableprivatecompany,limitedbyguarantee,registered in
EnglandandWales.Thecompany'sregistrationnumber,charityregistrationnumber and
registered office can be found in the Report of the Trustees.
2. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS
102)(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
continued...
Page 8
NEW LONDON ORCHESTRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
2. ACCOUNTING POLICIES - continued
DEBTORS
Thetrustonlyhasfinancialassetsandfinancialliabilitiesofakindthatqualifyasbasic financial
instruments.Basicfinancialinstrumentsareinitiallyrecognisedattransactionvalue and
subsequently measured at their settlement value.
3. DONATIONS AND LEGACIES
Unrestricted
funds
£
General donations and gifts including
gift aid
726
Charities Aid Foundation
-
High Barnet Chamber Music Festival
-
726
4.
OTHER TRADING ACTIVITIES
Unrestricted
funds
£
Orchestra Tax Relief
19,070
5.
INVESTMENT INCOME
Unrestricted
funds
£
Tax refund interest
49
6.
INCOME FROM CHARITABLE ACTIVITIES
Orchestra and concert performances |
2024
Restricted
Total
funds
funds
£
£
-
726
30,000
30,000
-
-
30,000
30,726
2024
Restricted
Total
funds
funds
£
£
-
19,070
2024
Restricted
Total
funds
funds
£
£
-
49
2024
Orchestra
and
concert
performances
£
57,164 |
2023
Total
funds
£
1,224
40,000
4,650
45,874
2023
Total
funds
£
6,892
2023
Total
funds
£
-
2023
Total
activities
£
19,406 |
|
|
|
continued...
Page 9
NEW LONDON ORCHESTRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
7. CHARITABLE ACTIVITIES COSTS
7. |
CHARITABLE ACTIVITIES COSTS |
|
|
|
|
|
Direct |
Support |
|
|
|
Costs (see |
costs (see |
|
|
|
note 8) |
note 9) |
Totals |
|
|
£ |
£ |
£ |
|
Orchestra and concert |
|
|
|
|
performances |
83,381 |
12,238 |
95,619 |
8. |
DIRECT COSTS OF CHARITABLE ACTIVITIES |
|
|
|
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Musician fees |
|
44,329 |
17,802 |
|
Music and instrument hire |
|
4,131 |
2,076 |
|
Orchestral management fees |
|
3,699 |
1,720 |
|
Retainers |
|
30,000 |
40,000 |
|
Storage |
|
1,222 |
995 |
|
|
|
83,381 |
62,593 |
9. |
SUPPORT COSTS |
|
|
|
|
|
|
Governance |
|
|
|
Management |
costs |
Totals |
|
|
£ |
£ |
£ |
|
Orchestra and concert performances |
7,528 |
4,710 |
12,238 |
|
Support costs have been allocated entirely to orchestra |
and concert activities. |
|
|
|
Support costs, included in the above, are as follows: |
|
|
|
Support costs, included in the above, are as follows: |
|
|
|
2024 |
2023 |
|
Orchestra |
|
|
and |
|
|
concert |
Total |
|
performances |
activities |
|
£ |
£ |
Insurance |
678 |
663 |
Other office costs |
310 |
209 |
Professional fees |
6,540 |
2,400 |
Accountancy and legal fees |
4,710 |
3,080 |
|
12,238 |
6,352 |
NET INCOME/(EXPENDITURE) |
|
|
Net income/(expenditure) is stated after charging/(crediting): |
|
|
|
2024 |
2023 |
|
£ |
£ |
Independent examination |
1,955 |
1,500 |
Accountancy |
2,605 |
2,000 |
Under / (over) provision in accountancy in prior years |
150 |
(420) |
10. NET INCOME/(EXPENDITURE)
continued...
Page 10
NEW LONDON ORCHESTRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024
11. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31August2024nor for
the year ended 31 August 2023.
TRUSTEES' EXPENSES
Therewerenotrustees'expensespaidfortheyearended31August2024norfortheyear ended
31 August 2023.
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
|
|
Unrestricted |
Restricted |
Restricted |
Total |
|
|
fund |
funds |
|
funds |
|
|
£ |
£ |
|
£ |
|
INCOME AND ENDOWMENTS FROM |
|
|
|
|
|
Donations and legacies |
5,874 |
40,000 |
|
45,874 |
|
Charitable activities |
|
|
|
|
|
Orchestra and concert performances |
19,406 |
|
- |
19,406 |
|
Other trading activities |
6,892 |
|
- |
6,892 |
|
Total |
32,172 |
40,000 |
|
72,172 |
|
EXPENDITURE ON |
|
|
|
|
|
Charitable activities |
|
|
|
|
|
Orchestra and concert performances |
28,945 |
40,000 |
|
68,945 |
|
NET INCOME |
3,227 |
|
- |
3,227 |
|
RECONCILIATION OF FUNDS |
|
|
|
|
|
Total funds brought forward |
40,201 |
|
- |
40,201 |
|
TOTAL FUNDS CARRIED FORWARD |
43,428 |
|
- |
43,428 |
13. |
TANGIBLE FIXED ASSETS |
|
|
|
|
|
|
|
|
|
Computer |
|
|
|
|
|
equipment |
|
|
|
|
|
£ |
|
COST |
|
|
|
|
|
At 1 September 2023 and |
|
|
|
|
|
31 August 2024 |
|
|
|
4,914 |
|
DEPRECIATION |
|
|
|
|
|
At 1 September 2023 and |
|
|
|
|
|
31 August 2024 |
|
|
|
4,914 |
|
NET BOOK VALUE |
|
|
|
|
|
At 31 August 2024 |
|
|
|
- |
|
At 31 August 2023 |
|
|
|
- |
continued...
Page 11
NEW LONDON ORCHESTRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
VAT
Prepayments
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals and deferred income
16.
MOVEMENT IN FUNDS
At 1/9/23
£
Unrestricted funds
General fund
43,428
TOTAL FUNDS
43,428
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
77,009
Restricted funds
Charities Aid Foundation
30,000
TOTAL FUNDS
107,009
Comparatives for movement in funds
At 1/9/22
£
Unrestricted funds
General fund
40,201
TOTAL FUNDS
40,201 |
|
2024
£
22,511
730
660
23,901
2024
£
661
34,560
35,221
Net
movement
in funds
£
11,390
11,390
Resources
expended
£
(65,619)
(30,000)
(95,619)
Net
movement
in funds
£
3,227
3,227 |
2023
£
12,182
497
-
12,679
2023
£
-
3,501
3,501
At
31/8/24
£
54,818
54,818
Movement
in funds
£
11,390
-
11,390
At
31/8/23
£
43,428
43,428 |
|
|
|
|
|
|
|
|
continued...
Page 12
NEW LONDON ORCHESTRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024
16. 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
£
£
£
32,172
(28,945)
3,227
40,000
(40,000)
-
72,172
(68,945)
3,227 |
|
|
TherestrictedfundrelatestoincomereceivedtocoverthecostoftheArtisticDirectorand Chief
Executive retainer fee.
17. RELATED PARTY DISCLOSURES
TheArtisticDirectorandChiefExecutiveMrRCorpwaspaidnil(2023:£40,000)asa retainer
during the year. An accrued expense of £30,000 is included in relation to this expense for the year.
The Hon. I MacGregor was paid £6,540 (2023: £2,400) for consultancy fees during the year.
During the accounting period the charity received Trustee donations totalling £200.
18. COMPANY LIMITED BY GUARANTEE
NewLondonOrchestraisacharitablecompanylimitedbyguaranteeandaccordinglydoesnot 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 13