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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

NEW LONDON ORCHESTRA LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

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

NEW LONDON ORCHESTRA LIMITED

RONALD CORP
FOR THE YEAR ENDED 31 AUGUST 2024


It is with the deepest sadness that we announce the death of our founder and musical director, Ronald Corp, on 7th May 2025. Ron was an inspirational musician who spent his life promoting neglected music to new audiences. Through the New London Children's Choir he nurtured generations of young musicians. He was also a prolific composer, writing major orchestral and choral works, as well as chamber music and solo works. He leaves behind a truly remarkable legacy which the NLO will be proud to continue.

NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2024



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of 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 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Mission Statement
The mission of the New London Orchestra is to be the most adventurous and innovative chamber orchestra in London, broadening the audience for music and the arts by placing education at the heart of all its activities. Through Adventures in Music®, the Orchestra will continue to develop creative partnerships, promote excellence, and display artistic integrity.

Objectives of the charity
The objectives of the charity are to advance education for the benefit of the public in Music and the Arts by presenting, promoting, organising, providing, managing and producing concerts and other events. These have been the principal activities of the company since incorporation.

Public benefit
The Trustees confirm that they have had due regard to the guidance published by the 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.

A team of external service providers supported Ian. They were: Andrew Bentley (Payroll Supervisor), Colin Alexander (Orchestra Fixer), and Lee Stephenson (Music Library). The office provided administration services to the orchestra's Artistic Director, Ronald Corp, in his capacity as a composer and conductor.

In order to keep the on-going overhead costs to a minimum, the orchestra continued to be managed from the home of the General Manager.

Concerts and recordings
Choral Performances
The orchestra continued its long-standing relationships with two of London's major choral societies with 6 concerts throughout the year. The Highgate Choral Society performed MENDLESSOHN's Elijah, a concert featuring works by POULENC, BIZET and FAURÉ, and finished the season with a concert of MOZART and HAYDN. The London Chorus performed BRAHMS German Requiem with a London Première of RAND's Piano Concerto No. 5. This was followed by a concert featuring works by ELGAR, HOWELLS and VAUGHAN WILLIAMS, finishing the season with a performance of ELGAR's Dream of Gerontius in Cadogan Hall.

In addition, we performed in a fund-raising concert in aid of St Luke's for Clergy Wellbeing at the Temple Church with a selection of pieces for string ensemble.

Developing Our New Artistic Vision
The main part of our Artistic Vision we are seeking to develop is to promote contemporary classical music to a young audience and the music of less known composers. We are pleased to continue promoting 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.


NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2024


FINANCIAL REVIEW
The charity continues keep the administration costs to the minimum and so we have been able to manage the orchestra without any support from Arts Council England.

The generous grant from the Garfield Weston Foundation over three years continues to give the orchestra the financial security in the near future which has enabled us to plan our future over the coming years.

The charity's intention is to increase the level of reserves so that the basic administration functions can carry on without any financial risk. Any surplus reserves will be used to increase the number of concerts.

We continue to have the support of some generous individuals, which enables us to continue to meet our liabilities until such time as alternative long-term funding sources are found. With this support in mind along with the grant from the Garfield Weston Foundation, we consider the use of the going concern assumption to be appropriate.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational management
The Board of Trustees are legally responsible for the overall management and control of the charitable company. Decision-making is largely done by the Management of the company, with important decisions of a policy or financial nature being made by the Board of Trustees. The Board of Trustees meets a minimum of 3 times every year.

The Board of Trustees is chaired by Jonathan White.

Expansion of the Board, especially from the corporate sector, is ongoing. Possible candidates are selected on recommendations from the existing Board members, and a meeting is held with the Chairman 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

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

This report has been prepared in accordance with the special provisions of Part 15 of the Companies 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

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)


Independent examiner's report to the trustees of New London Orchestra Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors 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 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in 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)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








K M Luck FCA

Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ

28 May 2025

NEW LONDON ORCHESTRA LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 3 726 30,000 30,726 45,874

Charitable activities 6
Orchestra and concert performances 57,164 - 57,164 19,406

Other trading activities 4 19,070 - 19,070 6,892
Investment income 5 49 - 49 -
Total 77,009 30,000 107,009 72,172

EXPENDITURE ON
Charitable activities 7
Orchestra and concert performances 65,619 30,000 95,619 68,945

NET INCOME 11,390 - 11,390 3,227


RECONCILIATION OF FUNDS
Total funds brought forward 43,428 - 43,428 40,201

TOTAL FUNDS CARRIED FORWARD 54,818 - 54,818 43,428

NEW LONDON ORCHESTRA LIMITED (REGISTERED NUMBER: 02215790)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
CURRENT ASSETS
Debtors 14 23,901 - 23,901 12,679
Cash at bank 36,138 30,000 66,138 34,250
60,039 30,000 90,039 46,929

CREDITORS
Amounts falling due within one year 15 (5,221 ) (30,000 ) (35,221 ) (3,501 )

NET CURRENT ASSETS 54,818 - 54,818 43,428

TOTAL ASSETS LESS CURRENT
LIABILITIES

54,818

-

54,818

43,428

NET ASSETS 54,818 - 54,818 43,428
FUNDS 16
Unrestricted funds 54,818 43,428
TOTAL FUNDS 54,818 43,428

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.


The members have not required the company to obtain an audit of its financial statements for the 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.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 28 May 2025 and were signed on its behalf by:





J P R White - Trustee

NEW LONDON ORCHESTRA LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

New London Orchestra Limited is a charitable private company, limited by guarantee, registered in England and Wales. The company's registration number, charity registration number and registered office can be found in the Report of the Trustees.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Computer equipment - 20% on cost

TAXATION
The charity is exempt from corporation tax on its charitable activities. Orchestra Tax Relief was introduced with effect from 1 April 2016 and the charity is to submit a claim for the year which is provided in these accounts and included in Other Debtors.

FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

DEBTORS
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

NEW LONDON ORCHESTRA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

DEBTORS
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. DONATIONS AND LEGACIES
2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
General donations and gifts including
gift aid

726

-

726

1,224
Charities Aid Foundation - 30,000 30,000 40,000
High Barnet Chamber Music Festival - - - 4,650
726 30,000 30,726 45,874

4. OTHER TRADING ACTIVITIES
2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Orchestra Tax Relief 19,070 - 19,070 6,892

5. INVESTMENT INCOME
2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Tax refund interest 49 - 49 -

6. INCOME FROM CHARITABLE ACTIVITIES
2024 2023
Orchestra
and
concert Total
performances activities
£    £   
Orchestra and concert performances 57,164 19,406


NEW LONDON ORCHESTRA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


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:
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

10. 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 )


NEW LONDON ORCHESTRA LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.


TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.


12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted 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 -

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
2024 2023
£    £   
Other debtors 22,511 12,182
VAT 730 497
Prepayments 660 -
23,901 12,679

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 661 -
Accruals and deferred income 34,560 3,501
35,221 3,501

16. MOVEMENT IN FUNDS
Net
movement At
At 1/9/23 in funds 31/8/24
£    £    £   
Unrestricted funds
General fund 43,428 11,390 54,818

TOTAL FUNDS 43,428 11,390 54,818

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 77,009 (65,619 ) 11,390

Restricted funds
Charities Aid Foundation 30,000 (30,000 ) -

TOTAL FUNDS 107,009 (95,619 ) 11,390


Comparatives for movement in funds

Net
movement At
At 1/9/22 in funds 31/8/23
£    £    £   
Unrestricted funds
General fund 40,201 3,227 43,428

TOTAL FUNDS 40,201 3,227 43,428

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:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 32,172 (28,945 ) 3,227

Restricted funds
Charities Aid Foundation 40,000 (40,000 ) -

TOTAL FUNDS 72,172 (68,945 ) 3,227

The restricted fund relates to income received to cover the cost of the Artistic Director and Chief Executive retainer fee.

17. RELATED PARTY DISCLOSURES

The Artistic Director and Chief Executive Mr R Corp was paid nil (2023: £40,000) as a 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

New London Orchestra is a charitable company limited by guarantee and accordingly does not have a share capital.

Every member of the charitable company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she crease to be a member.