Company Registration Number . Nl 621437
Sestina Music
Financial Statements and Trustees. Report
for the year ended 31 December 2024

Sestina Music
Company limited by guarantee
Contents
Page
Legal and administrative infomats'on
Trustees, Report
Independent examinerfs report
Statement of Financial Activits'es for the year ended 31 December 2024
Balan￿ Sheet as at 31 De￿rnber 2024
Notes to the Accounts
10-15

Sestina Music
Company limited by guardntee
Legal and Admlnlstratfve Infomiatlon
Status .
The organisation is a charitable company limited by guarantee, incorporated on 14 November 2013
and is recognised as a Charity with the Northem Ireland Chanty Commission and HMRC. The
goveming document is a Memorandum and Articles of AS￿￿latiOn.
Directors .
David Black
Irene Kingston
James Kelley
Karenanne Coughlan-Pierse
Maunce Kelly
Company Secretary .
Irene Kingston
Accountsnts .
Doherty & Co Accountants Ltd
The Amp
11 Ebrington Square
Waterside
Dery
BT47 6FA
Main Bankers .
HSBC
25-29 Royal Avenue
Belfast
BT1 1FBV
Registsred Office .
The Acom Centre
Culmore Road
Derry
BT48 8JB
Nl Charity Commission Reference Numbar
NIC100067
Revenue & Customs Charity Number
NI 00342
Company Number .
Nl 621437
Page 1

Se8tina Music
Trustees. Annual Report
for the Year Ended 31 December 2024
The Directors are pleased to present their annual report together with the financial ststements of the Charity
for the year ended 31 De￿mber 2024 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 Chariknes Act (Nl) 2022, Companies Act 2006, the Memorandum
and Articles of Association, and Accounting and Reporting by Chanties.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Repo￿.ng Standard
applicable in the UK and Republic Of Ireland IFRS102) (effective 1 January 2019.)
The company is govemed by a Memorandum and Art￿leS of Association dated 14 November 2013 The
company number is Nl 621437 and the registered off￿e is The Acom Centre, Culmore Road, Derry BT48
8JB. The company is a registered Northem Ireland Charity- reference NIC 100C67.
Dlrectors
The directors of the charitable company (the Chartyl are the trustees for the purpose of Charty Law. The
trustees during the year and at 31 December 2024 were as follows..
David Black {Chair)
Irene Kingston
James Kelley
Karenanne Coughlan-Pierse
Maurice Kelly
William 1p￿In Thompson (Resigned 11 January 2024}
Trustees. Report
Sestina Music has continued to be challenged during 2024. The year opened with the business of the Charity
in the care of temporary administrator. the renovffled cellist and administrator of the Cork Intemational
Festival, Norah O'Leary, who stood do￿ in October 2024.
Our Director of Music. Mr. Mark Chambers has also notified us of his intention to stand down from his post at
the end of the season 2024-2025. The impact of this decision for the group cannot be over*mphasised. Mark
is a wonderful musician and has been an inspiring role-model for the young members of the group. His tenure
of the post for 14 years has produced excellent performances of superb music throughout Ireland and latterly
in England. Most significantly, he has furthered the careers of many young MUs￿lan$, the majority from these
shores The many young Sestinas include already established classical soloists, a BBC Radio Three producer
and numerous people now teaching and performing in the Arts This was the primary Charitable Objective of
Sestina Music- the nurturing of outstsnding young perfomers and Mark has been exemplary in doing this.
The Directors thank him most sincerely and acknowledge that he wll be greatty missed.
The Arts Councils of Northern Ireland and the Republic of Ireland have continued to support Sestina Music
with the extraordinary granting of our applications. a testament to the success and achievements of the
Charity. The Next Generation work wilh young people has been acbvely supported by the Continuo
Foundation and the Board continues to meet regularly to set the direction of Sestina Music and provide
necessary support to our staff.
Page 2

Sestina MUSIC
Trustees. Annual Report
for the Year Ended 31 December 2024
Our purposes and activities
The purposes of the Charity are to promote the perft)miance and study of music, in particular early music and
contemp)rary repertoire in, though not exclusively in, Ireland and in doing so, to acb'vely seek and develop the
skills of young artists while supporting and encouraging the development of interest in music, particularly earty
EuroFean 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 IPBR11. 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 perfo￿nan￿S 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.
Achlevements and perfomiance
Following the successful "Carols at the Museum" recitals during December 2023, Sestina's "In Praise of St.
Cecilia" Easter programme was very well received with above expected levels of sales at the recrtal in
Fisherwick Presbyterian Church Belfast and a sell-out in Thomastown Concert Hall in Kilkenny. Excellent
feedback was received from both online and survey ￿searCh and it was particularly pleasing that all the
players and 75 % of the singers were from Ireland. A further feature of this programme was the "Sing with
Sestina" workshops in both venues with the full ensemble and members of the public enthusiastiC211y taking
part. 18 Chiklren attended the "Kids Sing" element of the recitsls.
Our Next Generation Programme, the audition Pro￿$$ and promotion of an annual cohort of young people
through our rehearsals and perfomiances. led to 8 emerging young professional singers progressing to Stage
2 of the scheme. which was most satisfying. Mark Chambers has continued to work with Cork, University
College Dublin and the Royal Irish Academy of Music to encourage young singers to be involved in Sestina
Music's programmes.
The September 2024 "Lux in Umbra" perft)miances in FIShe￿1¢k Presbyterian Church. Belfast were well
received and attended. Regrettably due to funding contstraints we were unable to proceed with our Carols
Concert in December 2024. The Next Generation webinars and workshops continued throughout December
with sucess.
Financial review
During the year the Charity re￿iVed grants of £60,301, donations of £5.279. box officE receipts of £8.683 and
bank interest of £172, resulting in totsl income of £74.435. Artist and production costs were £40,619 and
administration overheads were £22,777 This resulted in a surplus for the year of £11,039 which when added
to opening reserves of £19.658. left reserves of £30.697 at the year end.
The Directors were pleased with the results for the year. At the year end unrestricted reserves were £38,247
and restricted reseNes were £-7,550 as tranches and three of grants will be released during the
remainder of season 2024-25 (ends July 31st) following mid-season reports.
Page 3

Sestina Music
Trustees. Annual Report
for the Year Ended 31 December 2024
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 fixed commitments and the balance
and nature of the reserves themselves.
Reserves are needed to bndge the gap behveen 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 onty 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 consultatson with Arts Council Nl consider that a satisfactory
level of reseNes is three months unrestricted administration costs vthich would currently be in the region of
£10,000. At the year end the Charity has £38,247 of free reserves.
Risk 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 nsks. In particular,
the officers are paying especial care to the future needs of the Chanty as It faces major changes in Season
2025-26.
Volunteers
The Charity continues to be very involved in the communty. relying on substantial voluntary help to assist its
excellent professional staff. As part of our new "Next Generation" audition and involvement programme, v
continue to encourage the successful youngsters to be involved in front-of-house and concert management
operations of our perfomances.
Plans for future perlods
Plans a￿ well-developed for the Easter Programme "Concert Spirituel" in collaborative self-funding
perfonnances in Belfast, Kilkenny and Wexford. As before, this project inclLJdes the Stage 2 Mentoring
Course of the Next Generation Programme, "Sing with Sestina" workshops and a Harmony Hub innovative
event.
The Board are currently considenng the future of Sestina Music and will be assessing the Charity's future over
the coming months.
Page 4

Sestina Music
Trustees, Annual Report
for the Year Ended 31 December 2024
Stat8m•nt 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 accordance with applicable
law and United Kingdom Accounting Standards (United Kingdom.Generally Accepted Accountsng 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 ￿rnpany and of the profit or loss of the company for that
year.
In preparing these the Trustees are required to..
select suitsble accounting policies and apply them consistently;
- observe 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 ststements on the going concern basis unless rt 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 tsking reasonable steps for the prevention and detection of fraud and other
irregularities.
This report has been prepared in %cordance with the special provisions for small companies under part 15 of
the Companies Act 2006.
This report was approved by the Board on 28 February 2025 and signed on its behalf by
James Kelley
Director
Page 5

Sestina Music
Company limited by guarantee
Independent Examinerfs Report to the Charity Trustees of Sestina Music
Year ended 31 December 2024
We repM)rt solely to the Charity Trustees on our examination of the accounts for the year ended 31 December
2024. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than
Sestina Music and its Trustees as a body for our work or for this report. As a practising member firm of the
Chartered Association of Certified Accountants we are subject to its ethical and other professional
requirements which are detailed at vAwrf.accaglobal.com.
Respective responslbilitles of charity trustees and examlner
As the Charity Trustees land also the directors of the company for the purposes of company law) you are
responsible for the preparation of the accounts in accordan￿ 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..
xamine the accounts under section 65 of the Chanties Act.
-follow the procedures laid down in general directions given by the Charity Commission for Northem Ireland
under Section 6519)Ibl of the Charities Act.
-state whether particular matters have come to our attention.
Basis of independent examinerfs report
We have examined your Charity accounts as required under Section 65 of the Charities Act and our
examination was carried out in accordance with the general directions given by the Charity Commission for
Northern Ireland under Section 65{91(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 explanabons from
you as Charity Trustees concerning any such matters
Our role is to state whether any matenal matters have come to our attention gNing us concem to believe..
l. that accounting records were not kept as required by with Section 386 of the Companies Act 2006 and
Section 63 of the Charities Act.,
2. that the accounts do nol 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 Chanties Statement of Recommended Practise
applicable to charities preparing their accounts in accordance with the Financial Reportsng Standard
applicable in the UK and Republic of Ireland.
4. that there is further infomatson needed for a proper understanding of the accounts to be reached.
Indopondent examinerfs statement
We have completed our examinats.on and have no concerns in respect of the matters (1) to (41 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 attenbon.
Dohe
& Co Accountants Ltd
The Amp
11 Ebrlngton Square
Derry
BT47 6FA
28 February 2025
Page 6

Sestina Music
Company limited by guarantee
Statement of Financial Activities for the Year Ended 31 December 2024
Unrestricted Restricted
Funds
Funds
Totals
2024
Totals
2023
Notes
Incomin
Resources
Donations. legacies and similar
incoming resources
Income from activities of
furtherance of charitable objects
Income from acts'vities for
generating funds
Other incoming resourses
Total Incoming resources
5.279
5,279
2,418
60,301
60,301
116,789
8.683
172
14,134
8,683
172
52,747
46
172,000
60,301
Resources Ex
ended
Charitable expenditure.
Costs of activities for Gharitable objectives
Management and administratson
Total resourses expended
40,618
22.654
63,272
40.618
22.778
63,396
135,284
39,674
174,958
124
124
Net incoming resources before transfers
14,010
(2,971)
11.039
2,958
Re-allocation of funds
Net incominglloutgoing) resources
after transfers
14,010
(2,971)
11,039
2,958
Gains and losses on revaluats.on of fixed
asssets for the charity's own use
Gains and losses on revaluation and
disposal of investment assets
Net movement in funds
14.010
(2,971)
11,039
(2,958)
Total funds brought forward at 1 January 2024
24,237
{4,579)
19,658
22,616
Totsl funds carried forward at 31 December 2024
38.247
(7,550)
30.697
19,658
The ststement of financial activities includes all gains and losses recognised in the year.
Page 7

Sestina Mu8iC
Company limited by guarantee
Balance Sheet as at 31 December 2024
Unrestricted Restricted
Funds
Funds
Totals
2024
Totals
2023
Notes
Fixed Assets
Tangible Assets
Totsl fixed assets
1.116
1,116
1,571
2.687
2.687
2,986
2,986
Current Assets
Cash at bank and in hand
Total current assets
38.844
38,844
(9,121)
(9,121)
29.723
29,723
22,477
22,477
Credltors: amounts falling due
within one year
1.713
1,713
5,805
Net current assets
37.131
(9,121)
28,010
16,672
Total assets less current liabillties
38,247
(7.550)
30,697
19,658
Creditors: amounts falling due
after one year
Net assets
38,247
(7,550)
30.697
19,658
Flnan¢ed b
Funds
11
38.247
(7,550)
30,697
19,658
For the year ended 31 December 2024 the Chanty was entitled to exemption from audit under section 477 of
the Companies Act 2006 relatsng to small companies
Directors responsibilities..
The members have not required the Charity to obtain an audit of its financ￿1 statements for the year in
question in accordance with section 476.,
The directors acknowledge their responsibilities for complying wrth the requirements of the Act with
respect to accounting records and the preparation of financial ststements.
These financial statements have been prepared in accordance with the provisions applicable to companies
subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland..
Page 8

Sestina Music
Company limited by guarantee
These financial statements were approved by the Board of Directors and authorised for issue on 28
February 2025, and are signed on behalf of the Board by.,
James Kelley
Director
Company Reglstration Number Nl 621437
Page 9

Sestina Music
Company limited by guarantee
Notes to the financial statements
Year ended 31 December 2024
General Information
The Charity is a charitable private cornpany limited by guarantee, registered in Northern Ireland. The
address of the registered office is 94 Universty Street. Belfast, BT7 1 HE.
Accountlng policies
Basis of preparation
The financial statements 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 20151 (Charrties SORP IFRS 1021), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Sestina Music meets the definits.on of a publ￿ benefft entity under FRS 102. Assets and liabilities are
initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy note(s).
Turnover
Tumover represents the total value of grants, donations and sponsorships received during the year and
box office receipts generated from performances funded by the charity. Grants are recognised in the
Profit and Loss account vthen the conditions for their receipt have been complied with and there is
reasonable assurance that the grant wll be received.
Tangible assets
Tangible assets are iniknally recorded at cost, and are subsequently stated at cost less any accumulated
depreciation and impaimient losses.
Depreclatbon
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,
over the useful e￿noMiC life of that asset as follows..
Fittings fixtures and equipment
10%
reducing balance
Page 10

Sestina Music
Company limited by guarantee
Notes to the financial statements {continued
Year ended 31 December 2024
Financial instruments
A financial asset or a financial liability is recognised only ¥then the Charity becomes a paty to the
contractual provisions of the instrument.
Basic financial instruments are initsally recognised at the transaction price, unless the arrangement
constitutes a financing transaclion, 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 amorts.sed cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or
preference shares are publicly traded or their fair value can otherwise be measured reliably. the
investment Is subsequently measured at fair value Y￿th changes in fair value recognised in profit or loss.
All other such investments are subsequently measured at cost less impaiment
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
impaimient loss is recognised in profit or loss immediately
For all equty instruments regardless of significan￿, and other financial assets that are individually
significant, these are assessed individually for Impaiment. Other financial assets or erther assessed
indiv￿UallY or grouped on the basis of similar credit nsk characteristics.
Any reversals of impairment are recognised in profit or loss immediately. to the extent that the reversal
d￿$ 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 accordan￿ with the company objectives
Restricted Revenue Funds -
compnse 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.
Restricted Capital Funds -
compnse those net assets which at the end of the accounting
period have specific grant and other conditions restricting erther
their use or their disposability for defined periods.
Page 11

Sestina Music
Company limited by guarantee
Notes to the financial statements (continued)
Year ended 31 December 2024
4. Incoming Resources
Unrestricted Restricted
Funds
Funds
Total
2024
Total
2023
Donations le
acies and similar incomin
resources
Donations (inc recording donations)
5.279
5,279
2,418
Total
5,279
5.279
2,418
Income from activities of furtherance of charitsble
Arts Council Northem Ireland
Arts Council Of Ireland
Exitex Ltd
Continuo Foundation
49.400
5,901
49,400
5,901
49,400
37.532
29,857
5.000
5,000
Total
60,301
60,301
116,789
Income from activities for
eneratin
funds
Box Office Sales
Performance fees
8,683
8,683
14,561
38,186
Total
8.683
8.683
52,747
Other incomin
resources
Bank interest received
172
172
172
172
46
46
Total Incoming resources
14,134
60,301
74,435
172.000
Page 12

Sestina Muslc
Company limited by guarantee
Notes to the financial statements (continuedl
Year ended 31 December 2024
Resources expended
UnrfestrKted Restricted
Funds
Funds
Total
2024
Total
2023
Costs of activities for charitable ob'ectives
Artist fees
Production costs
Venue hire
Publicity
Artist transport
34.381
2,144
1,827
223
2,043
34,381
2,144
1,827
223
2,043
113,950
3.561
3,682
6,635
7,456
Total
40,618
40,618
135,284
Mana
ement and administration costs
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
Depreciatson on equipment
18,229
18,229
29,160
360
750
63
360
750
63
2,160
1,593
&fjo
20
445
1,884
282
1,717
360
1,025
136
332
119
1,481
76
1,320
182
218
117
175
119
1,481
76
1,320
182
(218)
117
299
124
Total
124
22.654
22.778
39,674
Total resources expended
124
63.272
63,396
174,958
Page 13

Sestina Music
Company limited by guarantee
Notes to the financial statements {continued
Year ended 31 December 2024
Staff costs
The average number of persons employed by the Charty during the year, including the directors and
administrative assistant was 1 (2023.. 1).
The key management Fersonnel of the Charity compnses of the Trustees and the Manager. The total
benefits of the key management personnel was £18.229 (31 De￿rnber 2023- £29.1601.
No wages are paid to the directors of the Charity.
Tanglble a88ets
Fixiures,
fittings and
equipment
Total
Cost
At 1 January 2024 and 31 December 2024
5,245
5,245
Depreciation
At 1 January 2024
Charge for the year
2,261
297
2,261
297
At 31 December 2024
2,558
2,558
Carrying amount
At 31 December 2024
2,687
2,687
At 31 December 2023
2,984
Creditors: amounts falling due withln one year
2024
2023
Trade creditors
Other creditors
4,365
1,440
1,713
1,713
5,805
Limited by guarantee
Sestina Music is a registered charity limited by guarantee and has no share caprtal.
Northern Ireland Charity Commission Number.. NIC 100067
Page 14

Sestina Music
Company Itmited by guarantee
Notes to the financial statements Icontinued
Year ended 31 December 2024
10.
Contlngent assets and Ilabllltles
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 these
conditions will be satssfactorily futfilled and the likeliho)d of having to repay any grant is remote.
11.
Analysls of charitable funds
Analysis of movements in unrestricted funds
Balance at IncomingResources
Funds at
1 January 2024 Resources Expended Transfer￿1 December 2024
General Fund
24,237
14,134
(124)
38.247
24,237
14,134
(124)
38,247
Name of unrestricted fund De8CriPtion of the Fund
General Funds
Funds which the Charty is able to apply freety in pursuit of its own
chantable objectrves and related purposes
Analysis of movements in restricted funds
Balance at IncomingResources
Funds at
1 January 2024 Resources Expended Transfera11 December 2024
Restricted Fund
14.579)
60.301
(63,272)
(7,550)
(4,579)
60,301
{63,272)
(7,550)
Name of restrlcted fund
Restricted Fund
Descrlption of the Fund
Funds which the CharÈty applies for particular purposes and projects in
pursuit of Its charitable objectives.
Analysis of net assets between funds
General Restricted
Fund
Fund
1,116
1,571
42,904
(13,181)
(5.773)
4,060
Total
2,687
29,723
{1,713)
Fixed Assets
Cash at bank and in hand
Creditors
Total
38,247
(7,550)
30,697
Page 15