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2023-03-31-accounts

DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

BRITISH POLICE SYMPHONY ORCHESTRA

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Charity number: 1003562 BRITISH POLICE SYMPHONY ORCHESTRA

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

CONTENTS Page 3 Reference and administrative details of the Charity, its Trustees and advisers 4 Chair’s statement 5 Trustees’ report 9 Independent Examiner’s report 10 Statement of Financial Activities 11 Balance Sheet 12 Notes to the financial statements

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees D Thompson, Chair and elected member of the Management Committee – Resigned 03/12/2022 K Mellor, Secretary and elected member of the Management Committee L Stretch, Treasurer, and elected member of the Management Committee R Wardle, Resigned 03/12/2022 C Burnell M Jelley J Morgan W Skelly P West L Winward, Chair – Appointed March 2023 P Kelly B Damazer O Pinkney, Resigned 03/12/2022

Charity registered number 1003562 Principle office PO Box 306 Nantwich Cheshire CW5 9EN Independent Examiner Kim Austen BSc ACA Bankers TSB Bank plc PO Box 1000 BX4 7SB

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

CHAIR’S STATEMENT

FOR THE YEAR ENDED 31 MARCH 2023

I am pleased to present this report following my election at the AGM on the 18[th] March 2023. Having previously served as a Trustee for several years, I look forward to my new role as Chair.

In May 2022 we have the pleasure of putting on a event at Coventry Cathedral in conjunction with West Midlands Police to celebrate the City of Culture. This event brought together our outreach programme with two local primary schools in an open rehearsal. The Children were given the opportunity to perform with the orchestra and perform the poetry created during the outreach days. The evening saw an amazing and colourful concert with a first for the orchestra performing the Bollywood Hit “An Evening in Paris” with soloist and dancers. The concert also saw the premier of an orchestral arrangement of Ghost Town by The Specials.

The orchestra was once again thrilled to perform at Proms in Beacon Park at the start of September the performance was enjoyed and appreciated by an audience of many thousands.

September also saw members taking part in the National Police Memorial Day Service.

December 2022 saw us return to Birmingham’s Symphony Hall for the Orchestra’s Proms Nice Spectacular! We were delighted to have on board and thank our 3 sponsors, Nice, Niche and Agilisys for this event. All have strong links to policing and all of whom are very keen to develop these links yet further.

I am truly grateful to each and every member of the orchestra for the outstanding ambassadorial roles they continue to undertake on behalf of the Police Service.

Signed: L Winward (Chair)___________

01-02-2024 Date (signing date)__________

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report and financial statements of the charity for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trust deed, the Charities Act 2011 and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).

OBJECTIVES

The objectives of the charity are:

  1. To provide, develop and maintain public education in and appreciation of the art and science of music by the presentation of public concerts and recitals and by such other ways as the association shall determine from time to time.

  2. To make donations to other charitable organisations.

The charity is run by a small number of volunteer Trustees and Management Committee who, as demonstrated by the details which follow in the annual review section, have had regard to the Charity Commission’s guidance on public benefit.

ACHIEVEMENTS AND PERFORMANCE

The BPSO continues to build on their reputation as the hub for music within the police service. May 2022 saw us create, for the Coventry Capital of Culture, alongside West Midlands Police a diverse cultural event at Coventry Cathedral which featured performances alongside the orchestra such as traditional Irish and Indian dance and an orchestral arrangement Coventry’s own Ghost Town by The Specials. Much of this continued to flavour the programme through to the BPSO Proms Night Spectacular! In December 2022.

Outreach played a huge part in the preparation for the Coventry Concert working with local schools identified by the West Midlands Communities Policing team to create musical interactions which culminated at an open rehearsal in Coventry Cathedral the afternoon of the concert, giving children the opportunity to perform with the Orchestra. This activity was made possible with the sponsorship of CGI.

September saw a return to Beacon Park, Lichfield for another successful “Proms in the Park”

The 3 event sponsors for the BPSO Proms Night Spectacular! at Birmingham Symphony Hall, continued their sponsorship in December 2022.

INVESTMENT POWERS

As for all charities, BPSO has the right to invest its surplus funds in a way which helps it meet its charitable aims. The variability of its cash flow during the year makes it challenging to invest significant funds for long periods of time. Consequently, much of the BPSO’s surplus cash is held in bank accounts and deposit accounts.

The exceptions to this are the restricted funds which are invested through a fund manager. These investments include growth and income funds with underlying investments in equities (predominantly UK), government and corporate bonds and cash. Investment assets are valued at market rates at the end of each period.

FINANCIAL REVIEW

The Charity, whilst having its roots and a continuing close connection with the police service, is financially independent of the police service. To continue to maintain operations, the Charity needs to generate a surplus from operations and relies heavily on sponsorship. During the year to 31 March 2023, the Charity generated a loss of £7.9K (2022 loss £61), after accounting for a decrease in the market value of investments of £7.4K (2022 decrease £0.5K).

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

Before revaluation of investments, the Charity made a loss of £499. This is an increased loss from previous years which have created approx. £10K surplus. this change has mainly been related to:

During 2022 we performed at Coventry Cathedral as part of West Midlands Police celebration for the Capital of Culture, as well as returning to Lichfield Beacon Park and Birmingham Symphony Hall, with both concerts being held again in the following financial year 2023

To ensure the Charity has sufficient funding to carry out its planned operations for the foreseeable future, its reserves policy requires that the Charity maintains a ratio of Net Available Financial Resources to Net Annualised Cost of between 1.5 and 2.5, targeting a ratio of 2.0. At the year end, the Charity complied with the policy with a ratio of 1.7. This has been calculated as the Unrestricted Funds divided by the previous years expenditure.

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Reserves Policy

The Management Committee has approved a reserves policy which formalises the approach to reserves taken over recent years. In light of the challenges surrounding funding the activity of the orchestra in the UK, the reserve policy seeks to retain two years of running costs in cash and liquid resources. Significant deviations above or below this target need to be addressed promptly. The current cash levels equate approximately 21 months of running costs.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The charity is governed by a trust deed dated 29 June 1991 as amended on 17 October 2015. The charity was registered with the Charity Commission on 26 July 1991.

The governing document provides that there is a Board of Trustees and a Management Committee. The Board of Trustees comprises the officers Chair, Secretary and Treasurer ("the officers") who are elected at an AGM or EGM by the members, and any other trustees appointed by the Board. The Chair and Management Committee determine the appropriate number of Trustees. Trustees are appointed for three years and are eligible for re -election.

The Management Committee comprises the officers and any other persons elected by the members. Nonmembers may be elected to the Management Committee in order to fill skill gaps, but the majority of the Management Committee must be members. The Management Committee appointments are for three years and they may stand for re-election. The Management Committee's role is to facilitate the day to day operations including arrangements of rehearsals, concerts, etc.

Method of appointment of trustees and decision making

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. We are actively seeking additional Trustees

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

PLANS FOR THE FUTURE

Future developments

How can you support us?

There are many ways you can support us:

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

TRUSTEES’ RESPONSIBILITIES STATEMENT

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence from taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees on 2[nd] December 2023 and signed on their behalf by

L Winward Trustee & Chair

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

INDEPENDENT EXAMINER’S REPORT for the year ended 31 March 2023

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BRITISH POLICE SYMPHONY ORCHESTRA (the

“Charity”)

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Signed:

Dated: 31-01-2024

Kim Austen BSc ACA

20 Wharfside

Padworth

Reading

RG7 4JS

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2023

Notes
INCOME FROM:
Donations & Legacies
2
Charitable Activities
3
Other Trading Activities
4
Investments
5
TOTAL INCOME
EXPENDITURE ON:
Raising funds
Charitable activities
TOTAL EXPENDITURE
NET (EXPENDITURE) / INCOME BEFORE
INVESTMENT (LOSSES)
Net (Losses) on investments
10
NET INCOME / (EXPENDITURE) BEFORE
TRANSFERS
Transfer between Funds
13
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 Restricted
Funds 2023
Unrestricted
Funds 2023
Total Funds
2023
Total Funds
2022
£
£
£
£
- 5,422 5,42211,237
- 66,973 66,97353,641
- 3,199 3,1994,226
- 1,210 1,210571
- 76,804 76,80469,674
- 1,987 1,9871,995
- 75,316 75,31667,216
- 77,302 77,30269,211
- (499) (499) 464
(7,397)
- (7,397) (524)
(7,397) (499) (7,895) (61)
(7,397) (499) (7,895) (61)
42,693 132,746 175,439175,500
35,297 132,248 167,544175,439

The notes on pages 12 to 20 form part of these financial statements

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

BALANCE SHEET AS AT 31 MARCH 2023

Notes
FIXED ASSETS
Tangible Assets
8
Investments
9
CURRENT ASSESTS
Stocks
Debtors
10
Cash at Bank and in hand
CREDITORS: Amounts falling due within one year
11
NET ASSETS
CHARITY FUNDS
Restricted Funds
12
Unrestricted Funds
12
Total Funds		 2023
2022
£
£
£
£
2,659
3,717
35,297
42,693
37,956
46,410
152
152
25,928
6,353
107,023
122,894
133,103
129,399
(3,515)
(370)
167,544
175,439
35,297
42,693
132,247
132,746
167,544
175,439		 2023
2022
£
£
£
£
2,659
3,717
35,297
42,693
37,956
46,410
152
152
25,928
6,353
107,023
122,894
133,103
129,399
(3,515)
(370)
167,544
175,439
35,297
42,693
132,247
132,746
167,544
175,439		 2023
2022
£
£
£
£
2,659
3,717
35,297
42,693
37,956
46,410
152
152
25,928
6,353
107,023
122,894
133,103
129,399
(3,515)
(370)
167,544
175,439
35,297
42,693
132,247
132,746
167,544
175,439		 2023
2022
£
£
£
£
2,659
3,717
35,297
42,693
37,956
46,410
152
152
25,928
6,353
107,023
122,894
133,103
129,399
(3,515)
(370)
167,544
175,439
35,297
42,693
132,247
132,746
167,544
175,439
37,956



 46,410




(370)
133,103
(3,515)		 129,399
167,544 175,439
35,297
132,247		 42,693
132,746
167,544 175,439

The Financial Statements were approved by the trustees on 2nd December 2023 and signed on their behalf by:

Lisa Winward – Chair Louise Stretch - Treasurer

The notes on pages 12 to 20 form part of these financial statements.

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

NOTES TO FINANCIAL STATEMENTS for the year ended 31 March 2021

1. ACCOUNTING POLICIES

1.1 General information

British Police Symphony Orchestra is a charity registered in England and Wales with the Charity Commission. Its registered number is 1003562.

The registered office of the charity can be found on page 1 of these financial statements.

1.2 Basis of preparation of financial statements

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) as amended by Update Bulletin 1, and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

British Police Symphony Orchestra constitutes a public benefit entity as defined by FRS 102.

1.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised and refer to the Trustees' report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

1.5 Tangible fixed assets and depreciation

Musical Instruments and Sheet Music written off over 10 years using a 25-30% reducing balance each year.

1.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Gains/(losses) on investments” in the Statement of financial activities.

1.7 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.8 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs.

1.9 Debtors

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

1.10 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation.

1.12 Financial instruments

The charity 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.

1.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

1.14 Taxation

British Police Symphony Orchestra Charitable Association, as a registered charity in England and Wales, is eligible for exemption from tax on its charitable activities.

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

2. INCOME FROM DONATIONS AND LEGACIES

NCOME FROM CHARITABLE ACTIVITIES
Donations and other income
Subscriptions from members
Sponsorship
Total Donations and legacies
Total 2022
Corporate and other sponsorship
Ticket Sales
Concert Fees
Sales of programmes and advertising
Accommodation Contribution
Total Income from Charitable Activities
Total 2022		 Unrestricted
and total
funds 2023
Total Funds
2022
£
£
1,3774,879
6,1596,358
--
7,53611,237
11,237
Unrestricted
and total
funds 2023
Total Funds
2022
£
£
29,97917,600
12,00822,337
10,5245,256
2,2502,300
12,2136,148
66,97353,641
53,641

3. INCOME FROM CHARITABLE ACTIVITIES

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

4. OTHER TRADING ACTIVITIES

Lottery Income
Merchandise - Other Sales
Total Income from Other Trading Activities
Total 2022		 Unrestricted
and total
funds 2023
Total Funds
2022
£
£
3,1993,369
-857
3,1994,226
4,226

5. INVESTMENT INCOME/EXPENDITURE

Gift Aid on investment income
Interest received
Mutual Fund Income		 Restricted
Funds 2023
Unrestricted
Funds 2023
Total Funds
2023
Total Funds
2022
£
£
£
£
--
616 61683
(7,397) 594 (6,803)
(36)
(7,397) 1,210 (6,187)
47

In 2023 we have seen a significant reduction in our Mutual Fund as a result of the turbulence in the financial markets during the year. However this has been offset slightly by the rise in interest rates during this period.

6. COSTS

Charitable Activities - Non Event
Charitable Activities - Event Expenses
Charity Management & Administration
Expenditure on Raising Funds
Total Costs		 Total 2023Total 2022
£
£
--
71,26463,850
4,0523,366
1,9871,995
77,30269,211

2023 shows the largest single cost to the orchestra currently is accommodation and will continue to be an area of focus for cost reduction and sponsorship has been secured for 2024 to help offset these increases.

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

7. NET INCOME / (EXPENDITURE)

This is stated after charging:

Depreciation of tangible fixed assets
owned by the charity		 Total 2023
Total 2022
£
£
1,0571,214

During the year, no trustees received any remuneration, benefits in kind or reimbursed expenses (2023 £Nil)

8. TANGIBLE FIXED ASSESTS

Cost
At 1 April 2022
Additions
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 1 April 2022		 Musical
Instruments Sheet Music
Total
£
£
£
1,197
7,114 8,311
-
-
1,197 7,114 8,311
844
3,750 4,594
130
928 1,057
974
4,678
5,651
223
2,436 2,660
353
3,364
3,717

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

9. FIXED ASSET INVESTMENTS

Market Value
At 1 April 2022
Additions
Revaluations
At 31 March 2023		 Listed
Securities
£
42,693
-
(7,397)
35,297

10. DEBTORS

Customer Account Receivable
Gift Aid Pending
Prepayment and accrued income
Total Costs		 Total 2023Total 2022
£
£
16,437530
6,0114,754
3,4801,070
25,9286,354

Customer Accounts Receivable has been recovered in the current financial year with outstanding sponsorship invoices have been paid. Prepayments relate to hotel costs paid in March 2023 ahead of the April 2023 rehearsal.

11. CREDITORS: amounts falling due within one year

Accruals & deferred income
Total Costs		 Total 2023Total 2022
£
£
3,515370
3,515370

The increase in Accruals shown here relate to provision being taken against aged Gift Aid claims awaiting payment and also aged invoices.

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

12. STATEMENT OF FUNDS

STATEMENT OF FUNDS – CURRENT YEAR

Designated funds
Lord Knights' Fund
Tour Fund
General funds
General funds - all funds
Total Unrestricted funds
Restricted Funds
Restricted fund
Total of Funds		 Balance at
1 April
2022
Income
Expenditure
Transfers in
/ (out)
Gains /
(Losses)
Balance at
31 March
2023
£
£
£
£
£
£
9,273
- - (732)
- 8,541
557
- - - - 557
9,830
- - (732)
- 9,098
122,91676,804 (77,303)
- 732 123,149
132,74676,804 (77,303) (732) 732 132,247
42,693
- - - (7,397)
35,296
175,43976,804 (77,303) (732) (6,665)
167,543

STATEMENT OF FUNDS – PRIOR YEAR

Designated funds
Lord Knights' Fund
Tour Fund
General funds
General funds - all funds
Total Unrestricted funds
Restricted Funds
Restricted fund
Total of Funds		 Balance at
1 April
2021
Income
Expenditure
Transfers in
/ (out)
Gains /
(Losses)
Balance at
31 March
2022
£
£
£
£
£
£
9,273
- - - - 9,273
557
- - - - 557
9,830
- - - - 9,830
122,45369,674 (69,211)
- - 122,916
132,28369,674 (69,211)
- - 132,746
43,217
- - - (524)
42,693
175,50069,674 (69,211)
- (524)
175,439

Lord Knights' fund

The Lord Knights' fund was established in 2015/16 as a result of a legacy from Lord Knights. The Management Committee and Trustees are keen to ensure the funds are for the development of the orchestra and to support its charitable giving. To date, funds have been used to purchase musical instruments, purchase sheet music, redesign the Charity's website, over hall the Charity's timpani and commission an arrangement of Police TV theme tunes. The transfer out of the Lord Knight’ fund into the general funds was to allow for the purchase of music made in the previous financial year.

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DocuSign Envelope ID: 62BB0961-C95E-430C-92C7-4C4B7B0F375D

BRITISH POLICE SYMPHONY ORCHESTRA

Tour fund

This fund was created in 2014/15 in order to help fund future tours of the orchestra. Incoming resources are generated by members and their family and friends specifically for the tour fund and no funds are directed away from the Charity's other funds.

Restricted fund

This fund comprises donations received since the Charity's formation that stipulated, they be used for the future development and support of the orchestra, other than investment income which is transferred to General funds.

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS – CURRENT YEAR

Tangible fixed assets
Fixed assets investments
Current assets
Creditors due within one year		 Restricted
Funds 2023
Unrestricted
Funds 2023
Total Funds
2023
£
£
£
- 2,659 2,659
35,297
- 35,297
- 133,103 133,103
(3,515) (3,515)
35,297 132,247 167,544

ANALYSIS OF NET ASSETS BETWEEN FUNDS – PRIOR YEAR

Tangible fixed assets
Fixed assets investments
Current assets
Creditors due within one year		 Restricted
Funds 2022
Unrestricted
Funds 2022
Total Funds
2022
£
£
£
- 3,717 3,717
42,693
- 42,693
- 129,399 129,399
(370) (370)
42,693 132,746 175,439

14. OTHER FINANCIAL COMMITMENTS

No other financial commitments have been made.

15. RELATED PARTY TRANSACTIONS

There were no related party transactions during the year.

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