Forest Philharmonic Society (Limited by Guarantee> Directors. Report and Financial Statements for the year ended 31 July 2024
Forest Philharmonic Society (Limited by Guarantee) Report of the Trustees (incorporating the Directors, Report) for the year ended 31 July 2024 Reforonc and Admlnl trativ tsils Charity Name Forest Philharmonic Society Charity Registration Number 1026792 Company Number 1539958 {England and Wales) Registered Office 83 Mornington Road Waltham5tow London E11 3BG TrusteeslDirectors Caroline Ashley Anthony Brice (Treasurer) (resigned 1016120241 Daniel Elson Matt Kelly (Chair) Jane Lee Robert Pearce-Higgin8 (Treasurer) (appointed 1016124) Sylvia Poulsen Rachel Simnett Laura Tomlinson Janet Twisellon (appointed 1016124) Structure Governance and Mana emen Forest Philharmonic Society is a Company Limited by Guarantee, established under a Memorandum of Association and governed by Its Articles of Association. Trustees are recwited from members of the Society who express an interest in, and are considered to have skills beneficial to, its governance. Trustees are elected al the Annual General Meeting. One third retire by rotation each year and may stand for re-election.
Forest Philharmonic Society (Limited by Guarantee) tivities Achievements and Perfornlance The objects for which the Society is established are to promote, maintain, improve and advance musical education and to increase the public's knowledge of and educate the public's taste for music. The Truslees plan the performances and activities within the community with due regard to the Charity Commission Guidance on public benefit. While the Society holds its rehearsals in Waltham Forest, concerts continue to be presented in Redbridge due lo the continued closure of Walthamslow Assembly Hall and the lack of a suitable altemative venue. In our 2023-2024 season, the orchestra continued to mix well-known works with more adventurous repertoire,. in December 2023, we programmed long-underrated black American composer Florence Price alongside Holsl and Elgar., in March 2024. we were delighted to welcome young soprano Angharad Shanahan lo perform Mozart, Canteloube and Mahler with the orchestra- as daughter of our musical director she had been attending our concerts since she was a baby. We continued our links with Lewisham Choral Society with a performance of Poulenc works in Blackhealh Halls March 2024. Following careful planning, the orchestra has established a new young musicians competition in liaison with the North London Music Festival.. the first competition final was held in September 2024. Flnan¢lal Review The Society's policy is lo hold reserves in the region of £15,000-£20,000 to enable it to enter into contracts for the hire of perfomiance venues for the following 12-18 months. The continued loss of Walthamstow Assembly Hall with its significantly larger audience Capacity continues to have a negative impact on box office revenues., whilst somewhat oftset by the Orchestral Tax relief scheme, the cost of presenting concerts continues to exceed revenue. We have relaunched our Friends of Forest Philhannonic initiative, inviting donations towards the orchestra in general or support of a particular player. This has started to bring in additional fund5 to the orchestra. We have also invited support for the Young Musicians Competition, which has begun to yield donations which have been used towards costs and prizes. The orcheslra is also looking lo develop advertising from local firms on our publicity and concert programmes. We also made a small raise in players subscriptions, and have improved methods of subs collection. Unrestricted funds currently stand at £46,552 with restricted funds of £6,055. The Society will use these reserves to fund its future seasons of concerts. This report has been prepared in a¢¢ordance with ttte special provisions of Part 15 of the Companies Act 2006 relating lo smaller companies. Signed on behalf of the Board on 23 April 2025. Matt Kelly Director
Inde endent examinor's re ort t the trust sofFo st Philharmonic ocio I report on the accounts of the company for the year ended 31 July 2024, which are set out on pages 5 to 10. Respective responsibilities of trustees and examiner The trustees (who are also the directors of the company for the purposes of company law) are sponSible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 14412) of the Charities Acl 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and 15 eligible for independent examination, it is my responsibility to.. examine the accounts under section 145 of the 2011 Act., to follow the procedures laid down in the general Directions given by the Charity Commission under section 145{5llb) of the 2011 Act.. and lo state whether particular matters have come lo my attention. Basls of Independont 8xamlner'8 roport My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of Ihe accounts presented with those records. It also includes consideration of any unusual items or disclosure8 in the accounts, and seeking explanations from you as trustees conceming any such matters. The procedures undertaken do noi provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view. and Ihe report is limited to those matters Set out in the statement below. Independent •xamlner'8 8tat•mont In connection with my examination, no matter has come to my attention.. (11 which gives me reasonable cause lo believe that in any material respect the requirements.. to keep accounting records in accordance with section 386 of the Companies Act 2006., and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles ofthe Statement of Recommended Practice.. Accounting and Reporting by Charities have not been met., or {2) lo which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Antoinette Gorst FCCA CTA MAAT 23April 2025
Forest Philharmonic Society (Limited by Guarantee, Company Number 1539958) tatement of Financial Activitles includin Income and enditure Account for the ear ended 31 Jul 2024 Unrestricted Restrfcted funds funds 2024 2024 Total funds 2024 Total fund$ 2023 [NotesJ Incomo from: Donations and legacies Charitable activities Other 18,665 33,293 737 1,980 20,645 33,293 737 14,795 21,275 309 14} Totsl 62,695 1,980 54,675 35,379 Expenditure on: Charitable activities 47,660 400 48,060 40,147 Total 47,660 400 48,060 40,147 Net movemont In funds 5,035 1,580 6,615 (3,678) Reconclllatlon of funds Tolal funds brought forward Total funds carried forward 41.517 46,552 4,475 6,055 45,992 52.607 49,760 45,992 All disclosures relate to continuing activities. The Statement of Financial Activities includes all gains and losses recognised in the year.
Forest Philharmonic Society (Limited by Guarantee, Company Number 1539958) Balance Sheet at 31 J 1 2024 [Not88] 2024 2023 Current a88ets Cash at bank and in hand Debtors 23,561 [71 31,339 22, 704 26, 056 Total current a880ts 54,900 48, 760 Llabllltle8 Creditors.. Amounts falling due within one year 18} (2,293) (2, 768) Total as80ts1088 current Ilabllltie• 52,607 45,992 The funds of th• charlty Restricted funds Unrestricted funds 6,055 46,552 4,475 41,517 Total fund8 52,607 45,992 For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 (the Act) relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Act, so far as they are applicable to the company, with respect to accounting records and the preparation of accounts These accounts have been prepared in accordance with the provision of Part 15 of the Act applicable to companies subject to the small companies, regime. The financial statements were approved by the Board on 23 April 2025. Matt Kelly Director
Forest Philharmonic Society (Limited by Guarantee) Notes to the financial statements Basis of preparation The financial statements have been prepared under the historical cost convention and 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) issued on 1 January 2019 and the Companies Act 2006. Accountlng Policies Incomlng Rèsourcos: Incoming resources are included in the Statement of Financial Activities (SoFA} when the company becomes entitled to the resource. it is probable the resources will be received and the monetary value can be measured reliably. They are reported gross of any related expenditure which is then disclosed in resources expended in the SOFA. Grants and donations are only included in the SOFA when the company has entitlement to them. Incoming resources from tax reclaims are included in the SOFA at the same lime as the gift to vthich they relate. Resourc08 Expondod: Resources expended are included in the Statement of Financial Activtties on an accruals basis, inclusive of any VAT which cannot be recovered. Expenditure is recognised when a liability is incurred.
Forest Philharmonic Society (Limitad by Guarantee) Unrestricted Restrictèd Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Income from donations and legacies Subscriptions Friends Charitable donations Legacies Gift Aid 10,899 1,092 3.801 10,899 1,092 5,781 8,359 282 3, 788 1,980 2.873 2,873 2,366 Total 18,665 1,980 20,645 14,795 Redbrldgo Other Concerts concert8 2024 2024 Total 2024 Total 2023 tNotes] Income from charltable actlvltle3 Tickets and other sales Engagement fees Orchestra Tax Relief 9,478 9,478 10,836 12,979 9,082 10,836 12,979 12,193 Total 22,457 10,836 33,293 21,275 Expendlturo on charltabl• actlvltles Professional coaching Soloists & extra musicians Halls & venues Music Instruments Marketing Sales expenses Support costs 26,932 5,744 5,716 3,655 2,138 570 809 2,096 26,932 6,144 5,716 3,655 2,138 570 809 2,096 24,294 3,973 4,760 2,106 1,753 499 709 2,113 400 Total 47,660 400 48,060 40,147 Support costs Legal and a¢¢ounting fees Professional memberships Insuran¢e Other expenses Governance 700 503 200 659 34 1,260 244 233 363 13 Totsl 2,096 2,113 Support Costs are apportioned equally betsveen charrtable activities.
Forest Philharmonic Society (Limited by Guarantee) Charity 2024 Charity 2023 Dèbtors Prepayments and accrued income Other debtors 968 30,371 969 25,087 Total 31,339 26,OS6 Credltors: Amounts falling due withln one year Trade creditors Accruals 1,353 1.628 1.140 Total 2,293 2,768 ststemont of funds Balanco at 1 August 2023 Balanco at 31 July 2024 Income Expendltur• Unrestricted funds Restricted funds 41,517 4,475 52,695 1,980 47,660 400 46,552 6,055 Total funds 45,992 54,676 48,060 52,607 Restricted funds comprise donations received towards one or more concerts to take place in 2024-25 and future years. 10. Analys18 of net assets between fund8 Unrestrlcted Rostrfctod funds funds 2024 2024 Total funds 2024 Total funds 2023 Current assets Creditors due within one year 48,845 (2.293) 6,055 54,900 12,2931 48. 760 {2,768} Total 46,552 6,055 62,607 45,992