Registratlon number Nl 621437
Se8tina Muslc
Flnanclal Accounts and Trustees, Report
for the Year Ended 31 Oecember 2023
illNiilli
'ACXIVG9C'
1710212024
COMPANIES HOUSE
A13
#131
Pre
ared B
Fergus McAteer & Co
Chartered Accountants
31133 Clarendon Street
Derry
BT48 7ER
Tel No. (0281 7126 3377

Sestlna Muslc
Company limited by guarantee
Contents
Page
Legal and administrative infonnats'on
Trustees, Report
Independent examinerfs report
Statement of Financial Activities for the year ended 31 December 2023
Balance Sheet as at 31 December 2023
Notes to the Accounts
10-15

Sestina Muslc
Company limited by guarantee
Legal and Admlnistrative Information
Status .
The organisation is a charitable company limited by guarantee, incorporated on 14 November 2013
and is recognised as a Charity with the Northern Ireland Charity Commission and HMRC. The
governing document is a Memorandum and Articles of Association.
Dlrectors .
David Black
William Irwin Thompson
Irene Kingston
James Kelley
Karenanne Coughlan-Pierse
Maurice Kelly
Company Secretary .
Irene Kingston
Accountants .
Fergus McAteer & Co
Chartered Accountants
31133 Clarendon Street
Derry, BT48 7ER
Main Bankers .
HSBC
12-14 The Diamond
Oerry
BT48 6HW,
Reglstered Office .
94 University Street
Belfast
BT7 1HE
Nl Charity Commission Reference Number
NIC100067
Revenue & Customs Charity Number
NI 00342
Company Number .
Nl 621437
Page 1

Sestlna Music
Trustees. Annual Report
for the Year Ended 31 December 2023
The Directors are pleased to present their annual report together with the financial statements of the Charity
for the year ended 31 December 2023 which are also prepared to meet the requirements for a Directors,
report and accounts for Companies Act purposes.
The financial statements comply with the the Charities Act (Nl) 2022, Companies Act 2006, the Memorandurn
and Articles of Association, and Accounting and Reporting by Charities. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic Of Ireland (FRS102) (effective 1 January 2019.)
The company is governed by a Memorandurn and Articles of Association dated 14 November 2013. The
company number is Nl 621437 and the registered office is 94 University Road, Belfasl, 8T7 1HE. The
company is a registered Northern Ireland Charity - reference NIC 100067.
Dlrectors
The directors of the charitable cofflpany (the Charity) are the trustees for the purpose of Charity Law. The
trustees during the year and at 31 December 2023 were as follows..
David Black (Chair)
William Irwin Thompson
Irene Kingston
James Kelley
Karenanne Coughlan-Pierse
Maurice Kelly (appointed 1710712023)
Trustees. Report
The affairs of Sestina Music during 2023 have seen a number of challenges and have sadly been touched by
tragedy The year opened with the appointment of Erin Smith as administrator who replaced Clara Burnell.
Erin Ileft us in August 2023 so to give us time to consider the future, former Chairman James Kelley took over
the accounts management, and we appointed as temporary administrator, the renowned ￿l11st and
administrator of the Cork International Festival, Norah O'Leary, which has proved a happy choice.
No sooner had the Charity commenced the season 2023-2024 than rt was announced that our President and
principal sponsor Mr. Mark Allport of Exitex Ltd had sadly died. Mark's death has affected us all: he was a
member of the team, putting out chairs, stapling programmes and driving vans without complaint or
acknowledgement of his contribution to our efforts. He will be greatly missed.
The Arts Council of Northern Ireland has continued to support Sestina Music with the extraordinary granting of
our applications, a testament to the success and achievements of the Charity. The work with school children
has been actively supported by the Foyle Foundation and the Board continues to meet regularly to set the
direction of Sestina Music and provide necessary support to our Musical Director and Temporary
Administrator.
We fa￿ 2024 with many challenges and opportunities, and are confident that Sestina Music will continue to
thrive.
Finally, reference must be made here to the most generous financial and personal support Sestina Music has
received from Oonagh and Mark Allport and Exitex Ltd since 2011,. it is beyond doubt that without their
backing, Sestina Music would not have been created, let alone excelled in its purposes..
Page 2

Sestina Music
Trustees, Annual Report
for the Year Ended 310e¢ember 2023
Our purposes and activities
The purposes of the Charity are to promote the performance and study of music, in particular early music and
contemporary repertoire in, though not exclusively in, Ireland and in doing so. to actively seek and develop the
skills of young artists while supporting and encouraging the development of interest In music, particularly early
European and contemporary music.
In shaping our objectives for the year and planning our activities, the directors have considered the Charity
Commission's guidance on public benefit requirement (PBR1 }. We endeavour to encourage a wide range of
young people and children to take advantage of our expertise and promote all within our community to take
part in our activities and to attend our performances.
We have put these strategies into action through various performances and courses as outlined in the
Chairman's Report and in our programme for the coming season, This programme of activities focuses very
much on bringing classical music to the community and in fostering the development of those who will be
among the foremost artists of the future.
Achievements and performance
The working of our Next Generation Programme, the audition process and promotion of an annual cohort of
young people through our rehearsals and performances continues to be particularly satisfying., lectures and
auditions by Mark Chambers in Cork, University College Dublin and the Royal Irish Academy of Music led to
24 singers becoming involved in Sestina Music's programmes and the educational webinars have been well
received.
Our season began with another collaboration with the Irish Baroque Orchestra in performance of Bach's St.
Matthew Passion in Kilkenny, Galway and Dublin to great acclaim and the Easter programme "Music of
Celebration" in Belfast, Kilkenny and Dublin was an outstanding success, especially the childrens, programme
for 30 young people led by Anne Mccambridge. Five of our singers joined the Waterford International Organ
Festival in "Songs of Sundrie Natures" during the summer. The autumn recital series included "Music For
Christian IV" in Amagh, Portaferry and Bellaghy which were artistically very successful although we strive to
increase audience numbers. The collaboration with East Cork Early Music Festival in October "In Praise of
Bacchus" was most satisfactory in every way as were the four Carol Concerts in the Ulsler Museum in
December.
Flnancial revlew
Funding of £86,932 was secured during the year and £29,857 of sponsorship for events was received from
Exitex Ltd. Box office, performance fees and donations of £55,211 were received resulting in total income of
£172,000. Artist and production costs were £135,284 and administration overheads were £39,678. This
resulted in a deficit for the year of £2,962 which was funded from opening reserves of £22,616. At the year
end the Charity had reseNes of £19,658.
The Directors were pleased with the results for the year. At the year end unrestricted reserves K¢re £24.237
and restricted reserves were £4,579 as grants are due at the year end. These resepies together with Arts
Council funding put the Charity on a sound financial footing for the next twelve months.
Page 3

Sestlna Muslc
Trustees. Annual Report
for the Year Ended 31 December 2023
Reserves pollcy
The officers have reviewed the reserves of the organisation. This review encompassed the nature of the
income and expenditure streams, the need to match variable income with fi'xed commitments and the balance
and nature of the reserves themselves.
Resenrfes are needed to bridge the gap betrrfeen the spending and receiving of income and to cover
unplanned emergency costs. Due to the nature of the activities of the Charity no material unplanned costs are
expected. The only major costs are artist fees, production costs, venue hire and publicity for events but the
directors would not undertake a major event unless reserves were already in place or funding was secured to
cover the costs of the event. The Directors in consultation with Arts Council Nl consider that a satisfactory
level of reserves is three months unrestricted administration costs which would currently be in the region of
£10.000. At the year end the Charity has £24,237 of free reseNes.
Rlsk management
The officers have examined the major strategic, business and operational risks which the Charity faces and
confirm that systems are in place to ensure necessary steps can be taken to lessen these risks, and that a
substantial review of the Charity's risk management procedures in view of the expansion of the work of the
Charity was completed and adopted by the Board in Summer 2021.
Volunteern
The Charity continues to be very involved in the community, relying on substantial voluntary help to assist its
excellent professional staff. As part of our new "Next Generation" audition and involvement pro9ramme, we
continue to encourage the successful youngsters to be involved in front-of-house and concert management
operations of our performances.
Plans for future period8
Plans are well-developed for the Easter Programme "In Praise of St. Cecilia" in a scaled down operation and
we have been approached for collaborative self-funding performances with the Lir Festival, Opera Collective
and Newry Chamber Music.
Page 4

Sestina Muslc
Trustees, Annual Report
for the Y•ar Ended 31 December 2023
Statement of Trustees. Responsibilities
The Charity Trustees (who are also the directors of the Sestina Music for the purposes of company law) are
responsible for preparing a Trustees, Annual Report and financial statements in accordan￿ with applicable
law and United Kingdom Accounting Standards (United Kingdom.Generally AC￿pted Accounting Practice).
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 profit or loss of the company for th8t
year.
In preparing these the Trustees are required to..
select suitable accounting policies and apply them consistently.,
- obsep4e the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial ststements.,
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
organisation will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy
at any time the financial position of the organisation. They are also responsible for safeguarding the assets of
the organisation and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
This report has been prepared in accordance with the special provisions for small companies under part 15 of
the Companies Act 2006.
This report was approved by the Board on 6 February 2024 and signed on its behalf by
James Kelley
Director
Page 5

Sestina Music
Company Ilmited by guarantee
Independent Examiner's Report to the Charity Trustees of Sestina Muslc
Year ended 31 December 2023
We report solely to the Charity Trustees on our examination of the accounts for the year ended 31 De￿mber
2023. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Seslina Music and its Trustees as a body for our work OT for this report. As a practising member fimi of
Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are
detailed at www.charteredaccountants.ie.
Respective responslbilities of charity trustees and examiner
As the Charity Trustees (and also the directors of the company for the purposes of company law) you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act
2006 and the Charities Act (Northern Ireland) 2008. Having satisfied ourselves that the charity is not subject to
an audit under company law, and is eligible for independent examination, it is our responsibility to..
-examine the accounts under section 65 of the Charities Act.
-follow the procedures laid down in general directions given by the Charity Commission for Northern Ireland
under section 65(9){b) of the Charities Act.
-siale whether particular matters have come to our attents'on.
Basis of independent examinerfs report
We have examined your Charity accounts as required under section 65 of the Charits'es Act and our
examination was carried out in accordance with the general directions given by the Charity Commission for
Northern Ireland under section 65191(b) of the Charities Act. The examination Included a review of the
accounting records kept by the Charity and a comparison of the accounts presented with those records. It also
included consideration of any unusual items or disclosures in the accounts, and seeking explanations from
you as Chanty Trustees concerning any such matters.
Our role is to st8te whether any material matters have come to our attention giving us concem to believe:
1. that accounting records were not kepl as required by with section 386 of the Companies Act 2006 and
' section 63 of the Charities Act,.
2. that the accounts do not accord with those accounting records.,
3. that the accounts do not comply with the accounting requirements of section 396 of the Companies Act
2006, the Charities Act and with methods and principles of the Charities Statement of Recommended Practise
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic Of Ireland.
4. that there is further information needed for a proper urKlerstanding of the accounts to be reached.
Independent examinerfs statement
We have compleled our examination and have no concerns in respect of the matters (1) to {4) above and, in
connection with following the directions of the Charity Commission for Northern Ireland. we have found no
matters that require drawing to your attention.
Fergu
McAteer & Co
Chartered Accountants
31133 Clarendon Street
Derry
8T48 7ER
0 6 FEB 2024
6 February 2024
Page 6

Sestina Music
Company limited by guarantee
Statement of Financial Actlvltles for the Year Ended 31 December 2023
Unrestricted Restricted
Funds
Funds
Totals
2023
Totals
2022
Notes
Incomin
Resources
Donations, legacies and similar
incorning reSoUr￿S
Income from activities of
furtherance of charitable objects
Income from activities for
generating funds
Other incoming resourses
Total Incoming resources
2.418
2,418
3,701
29,857
86,932
116,789
97,243
52,747
46
85,068
52,747
46
172,000
58.522
10
159.476
86,932
Resources Ex
ond•d
Charitable expenditure:
Costs of activities for charitable objectives
Management and administration
Total resournes expended
66.245
12,174
78,419
69,039
27,500
96,539
135,284
39,674
174,958
150,105
31,455
181,560
Net Incoming resources before transfers
6,649
{9,607)
(2,958)
22,084
Re-allocation of funds
Net incomingl(outgoing> resources
after transfern
6.649
(9,607)
(2,958)
22,084
Gains and losses on revaluation of fixed
asssets for the charity's own use
Gains and losses on revaluation and
disposal of investment assets
Net movement in funds
6.649
(9,607)
(2,958)
(22.084)
Total funds brought forward at 1 January 2023
17.588
5,028
22.616
44,700
Total funds carried forward at 31 December 2023
24,237
(4,579)
19,658
22,616
The statement of financial activities includes all gains and losses recognised in the year.
Page 7

Sestlna Muslc
Company Ilmlted by guarantee
Balance Sheet as at 31 December 2023
Unrestricted Restricted
Funds
Funds
Totals
2023
Totals
2022
Notes
Fixed Assets
Tangible Assets
Total fixed assets
1,241
1,241
1,745
1,745
2,986
2,986
3,318
3,318
Current A
Cash at bank and in hand
Total current as8et8
28,801
28,801
(6,324)
(6,324)
22,477
22,477
23,408
23,408
Credltors: amounts falllng due
within one year
5.805
5,805
4,110
Net current assets
22,996
(6.324)
16,672
19,298
Total assets less curront1Sabilities
24,237
(4,579)
19,658
22,616
Credltors: amounts falling du•
after one year
Net assets
24,237
(4,579)
19,858
22,616
Flnanced b
Funds
11
24,237
(4.579)
19,658
22,616
For the year ended 31 December 2023 the Charity was entitled to exemption from audit under section 477 of
the Companies Act 2006 relating to small companies.
Directors responsibllities..
The members have not required the Charity to obtain an audit of its financial statements for the year in
question in accordance with section 476.,
The directors acknowledge their responsibilities for complying with the requirements of the Act with
respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordan￿ with the provisions applicable to companies
subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Stsndard
applicable in the UK and Republic of Ireland,.
Page 8

Sestlna Muslc
Company limited by guarante•
These financial statements were approved by the Board of Directors and authorised for issue on 6
February 2024, and are signed on behalf of the Board by"
James Kelley
Director
Company Registration Number Nl 621437
Page 9

Sestlna Muslc
Company limited by guarantee
Notes to the financial statements
Year ended 31 December 2023
General Information
The Charity is a charitable private company limited by guarantee. registered in Northern Ireland. The
address of the registered office is 94 University Street, Belfast. BT7 1 HE.
Accounting policies
Basis of preparation
The financial statemenls have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
1021 (effective 1 January 2015) (Charities SORP (FRS 102)), the Financial Reporting Standard
applicable in the UK and Republic of I￿land (FRS 102) and the Companies Act 2006.
Sestina Music meets the definition of a public benefit entty under FRS 102. Assets and liabilities are
inilially recognised at historical cost or transaction value unless othenNise stated in the relevant
accounting policy note(s>.
Turnover
Turnover represents the total value of grants, donations and sponsorships re￿iVed during the year and
box office receipts generated from performances funded by the charity. Grants are recognised in the
Profit and Loss account when the conditions for their receipt have been complied with and there is
reasonable assurance that the grant will be received.
Tanglble ass•ts
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated
depreciation and impairment losses.
Depreclatlon
Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual value,
over the useful economic life of that asset as follows..
Fittings fixtures and equipment
100/0
reducing balance
Page 10

Sestina Music
Company limited by guarantee
Notes to the financial statements (continued)
Year ended 31 December 2023
Financial instruments
A financial asset or a financial liability is recognised only when the Charity becomes a paty to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement
constitutes a financing transaction, where it is recognised at the present value of the future payments
discounted at a market rate of interest for a similar debt instrument.
Debt instruments are Subsequently measured at amortised cost.
Where investments in non-convertible preferen￿ shares and non-puttable ordinary shares or
preference shares are publicly traded or their fair value can otheDNise be measured reliably, the
investment is subsequently measured at fair value with changes in fair value recognised in profrt or loss.
All other such investments are subsequently measured at cost less impairment.
other financial instruments, including derivatives, are initially recognised at fair value, unless payment
for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a
market rate, in which case the asset is measured at the present value of the future payments
discounted at a market rate of interest for a similar debt instrument.
other financial instruments are subsequently measured at fair value, with any changes recognised in
profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of
impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised in profit or loss immediately.
For all equity inslruments regardless of significance, and other financial assets that are individually
significant, these are assessed individually for impairment. Other financial assets or either assessed
individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal
does not result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
Funds
Unrestricted Revenue Funds -
comprise those revenue funds which the management committee
are free to use in accordance with the company obj'ectives.
Restricted Revenue Funds -
comprise those revenue funds which have been given for particular
purposes and projects.
Unrestricted Capital Funds -
comprise those net assets which the trust is able to apply freely in
pursuit of its own charitable objectives and related purposes.
Restricied Capital Funds -
comprise those net assets which at the end of the accouniing
period have specific grant and other conditions restricting either
their use or their disposability for defined periods.
Page 11

Sestina Muslc
Company Ilmlted by guarantee
Notes to the financial statements (continued
Year ended 31 December 2023
4. Incoming Resources
Unrestricted Restrlct
Fund8
Funds
Total
2023
Total
2022
Donatlons le
acies and similar Incomin
resources
Oonations (inc recording donations)
2.418
2,418
3,701
Totsl
2,418
2,418
3,701
Income from activities of furtherance of charitable
ob
ects
Arts Council Northern Ireland
Arts Council Of Ireland
Exitex Ltd
49,400
37,532
49,400
37,532
29,857
40,767
16,476
40,000
29.857
Total
29.857
88,932
116,789
97,243
Income from activities for
eneratin
funds
Box Office Sales
Performance fees
14,561
38,186
14,561
38,186
10,269
48,253
Total
52.747
52,747
58,522
Other Incomin
resources
Bank interest received
46
46
46
10
10
Total incoming resources
85,068
86,932
172,000
159,476
Page 12

Sestina Music
Company limited by guarantee
Notes to the linancial statements (continued
Year ended 31 December 2023
Resources expended
un-restri￿ Restricted
Funds
Funds
Total
2023
Total
2022
Costs of activities for charitable
Artist fees
Production costs
Venue hire
Publicity
Artist transport
59,650
838
400
3.510
1.847
54,300
2,723
3,282
3,125
5,609
113,950
3,561
3,682
6,635
7,456
116,411
9,493
5,295
11,984
6,922
Total
66,245
69,039
135,284
150,105
Mana
ement and admlnls
Wages & administration
Staff training
Rent
Insurance & Affiliations
Printing, postage and stationery
Advertising
Internet
Computer costs
Travel costs
Accountancy fees
Bank charges
Loss on exchange
General expenses
Depreciation on equipment
5,162
23,998
29,160
23,166
43
2,340
1,076
66
352
1,620
526
552
20
247
959
95
1,477
230
1.025
123
138
540
1,067
2,180
1,593
560
20
445
1,884
282
1,717
360
1,025
136
332
198
925
187
240
130
1,324
668
1,692
161
52
146
369
13
194
Total
12,174
27,500
39,674
31,455
Total rn8ources expended
78,419
96,539
174,958
181,560
Page 13

Sestina Muslc
Company limited by guarantee
Notes to the flnancial statements (contlnued)
Year ended 31 December 2023
Staff costs
The average number of persons employed by the Charity during the year, including the directors and
administrative assistant was 1 (2022.. 2).
The key management personnel of the Charity comprises of the Trustees and the Manager. The total
benefits of the key management personnel was £29,160 (31 December 2022 - £23,166).
No wages are paid to the directors of the Charity.
Tangible assets
Fixtures.
fittings and
equipment
Total
C08t
At l January 2023 and 31 December 2023
5,245
5,245
Depreciation
At 1 January 2023
Charge for the year
1,927
332
1,927
332
At 31 December 2023
2,259
2,259
Carrying amount
At 31 December 2023
2,988
2,986
At 31 December 2022
3,318
3,318
Creditors: amounts falling due within one year
2023
2022
Trade creditors
Other creditors
4,365
1,440
2.670
1,440
5,805
4.110
Limit￿ by guarantee
Sestina Music is a registered charity limited by guarantee and has no share capital.
Northern Ireland Charity Commission Number: NIC 100067
Page 14

Sestina Music
Company Ilmited by guarantee
Notes to the financial statements (continued)
Year ended 31 December 2023
10.
Contingent assets and liabilities
Sestina Music has received grant assistance from government, public and other bodies. The payment
of these grants is made subject to certain conditions being fulfilled. The directors consider Ihese
condits'ons will be satisfactorily fulfilled and the likelihood of having to repay any grant Is remote.
11.
Analys1$ of charitsble funds
Analysis ol movements In unrestrlcted funds
Balance at IncomingResourc•s
Funds at
1 January 2023 Resources Expended Tran8fera110ecember 2023
General Fund
17,588
85,068
(78,419)
24,237
17,588
85,068
(78,419)
24.237
Name of unrestrlcted fund Descrlptlon of the Fund
General Funds
Funds which Ihe Charity is able to apply freely in pursuit of its own
charitable objectives and related purposes.
Analysis of movements in restricted funds
Balance at IncomingResource8
Funds at
1 January 2023 Resources Expended TransfergJ1 Docember 2023
Restricted Fund
5,028
86,932
(96,539)
(4,579)
5,028
86,932
(96.539)
(4.579)
Name of restrlcted fund
Restricted Fund
Descrlptlon of the Fund
Funds which the Charity applies for particular purposes and projects in
pursuit of its charitable objectives.
Analy818 of net assets between funds
General R•stricied
Fund
Fund
1,241
1,745
28,801
(6,324)
(5,805)
Totsl
2,986
22,477
(5,805)
Fixed Assets
Cash at bank and in hand
Creditors
Total
24,237
(4.579)
19,658
Page 15