Sinfonia Cymru
Charity No. 1058196
Company No. 03240356
Trustees' Report and Unaudited Accounts
30 September 2024
Sinfonia Cymru Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 - 12 |
| Independent Examiner's Report | 13 |
| Statement of Financial Activities | 14 |
| Balance Sheet | 15 |
| Notes to the Accounts | 16 - 25 |
| Chartered Accountants Report | 26 |
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Sinfonia Cymru Trustees Annual Report
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 03240356
Charity No. 1058196
Registered Office
103 Bute Street Cardiff Caerdydd CF10 5AD
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
R.S. Bright A.F. Jones L.M. Madeley J. Marriot A.T. Marshman C. Plumley W.M.A. Sterk A.J. Vennart S.E. Willis Tansley
Key Management Personnel
Chair Wiard Sterk Secretary Caroline Tress Chief Executive Caroline Tress
Accountants
Full Stop Accounts Ltd 67 Lakeside Drive Cardiff CF23 6DE
Bankers
Unity Trust Bank plc Nine Brindley Place Birmingham B1 2HB
Solicitors
Independent Examiner
Tina Jenkins CGMA 19 Clos y Carw Llantwit Fadre CF38 2BP
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Sinfonia Cymru Trustees Annual Report
OBJECTIVES AND ACTIVITIES
Introduction
Sinfonia Cymru is a chamber orchestra for exceptional professional musicians under the age of 30 from Wales, the UK and beyond, dedicated to championing young players and helping them to grow their experience in the early stages of their career. Through investment in the development of emerging musicians, we develop future generations of cultural artists and leaders. Our Welsh identity is fundamental to our work: our interdependent mission is that everyone in Wales will have the opportunity to access classical music and that far more people, from a diversity of backgrounds, will participate in, be inspired by, and experience our performances and community projects. We achieve this by taking music into communities across Wales, to both urban and rural venues, and to schools and healthcare settings.
Our core work includes chamber orchestral concerts, chamber music recitals, cutting-edge contemporary music, cross-genre projects, and projects with, and for, schools. At times we’re an orchestra in the traditional sense – ranging in scale from string ensemble to full symphony. At other times, smaller groups of players provide more intimate performances in a variety of styles. We are almost always unconducted, directed by the Leader or Guest Soloist.
We aim to nurture classical musicians who are exceptionally talented, artistically curious, challenging, open and engaging, and who will become role models for other young players. Today, musicians need a much wider skills-set and a more flexible approach to music-making then previous generations, and we help our players develop this. Unafraid to challenge the status quo, we put our players at the heart of our creative programming and give musicians the opportunity to cultivate a wide range of skills. For a freelance orchestra, this is very unusual.
We are very grateful to our key stakeholders, the Arts Council of Wales and Welsh Government, without whose funding we would not be able to deliver great musical experiences for audiences close to their homes, in traditional music venues and in a wide variety of smaller and unconventional settings. This public funding support, alongside other valued support from Trusts, Foundations, and individual donors, enables us to play our role in ensuring a future for classical music in Wales. In particular, we are grateful to the Foyle Foundation, Colwinston Charitable Trust, PRS Foundation, Mid Wales Music Trust, Ty Cerdd, Scops Arts Trust, Nugee Foundation, and Powys Community Endowment Fund all of which have supported for our work this year.
Public benefit
The Trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. The main activities undertaken to further the charity’s purpose for the public benefit are outlined throughout the report.
ACHIEVEMENTS AND PERFORMANCE
The 2023/24 season was one of the busiest years in the organisation’s history, in terms of the number of events presented to audiences in Wales and the number of days of work provided to musicians. In total, we presented 120 events, including concerts, workshops, interactive schools performances, and community collaborative performances, reaching 12,000 live audience members/participants in every local authority in Wales and further afield, in venues ranging from fruit and veg shops to miners’ institutes, schools to concert halls. Broadcasts of our projects on BBC Radio 3, S4C and Youtube reached hundreds of thousands more listeners.
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Sinfonia Cymru Trustees Annual Report
Orchestral Series
There were three orchestral tours – the first, in November 2023, was with BRIT Award-winning Saxophonist and BBC Presenter Jess Gillam M.B.E. and 14 Sinfonia Cymru string players. Jess performed an eclectic programme taking in classical works by CPE Bach, Nadia Boulanger, Morfudd Owen and Georg Philipp Telemann and contemporary works ranging from David Bowie and Max Richter to Ar Hyd y Nos, arranged by Sinfonia Cymru’s own creative Associate Simmy Singh. The concert toured to Royal Welsh College of Music and Drama (Cardiff), St George’s (Bristol), Pontyberem Memorial Hall and Aberystwyth Arts Centre. Audience feedback from the tour was very positive:
“The concert was absolutely joyful. So uplifted after that. You’re all super talented. Bravo!.”
“Amazing! Diolch am dod i pentre fach yn y gorllewin.” ["Thank you for coming to a small village in the West.”]
“It was glorious! Beautifully curated, wonderful atmosphere and such a joy to listen to such talented musicians.”
“Best musical experience all year.”
“It was an amazing performance with lots of young people on stage, displaying amazing musicianship throughout. A real night to remember with superb communication between the performers.”
The tour was preceded by a performance for pupils at Holton Primary School in Barry, where the orchestra had rehearsed. This is part of our “hafan” (Welsh for “home”) model, launched in January 2023, which saw Sinfonia Cymru vacate our office, instead rehearsing and meeting as a staff team at various “hafans” around Wales: Aberystwyth Arts Centre, Newport Riverfront and Holton Primary School in Barry. Money saved on rental costs is now reinvested in work with and for the communities surrounding those hafans, as can be seen in this clip of Jess Gillam and the orchestra performing for pupils at Holton Primary: https://www.facebook.com/watch/?v=705468764567952&ref=sharing.
Our second orchestral tour, titled “Time Machine”, in February 2024, was with former BBC New Generation Artist and RPS Young Artist award-winner, guitarist Sean Shibe. We toured Wales with a programme of music by contemporary composers for a flexible ensemble of 15 Sinfonia Cymru musicians, with Sean Shibe playing electric and classical guitar. The programme included the premiere of Welsh composer David John Roche’s “Chorus in Alto”, a new concert for electric and classical guitar, co-commissioned by Britten Sinfonia (through their Magnum Opus composers scheme) and Sinfonia Cymru. We are grateful to Britten Sinfonia for allowing Sinfonia Cymru to premiere the piece.
An extended rehearsal period meant that we were able to give an exceptionally high quality performance of a complex and adventurous programme, that was broadcast on BBC Radio 3’s In Concert on 9th April 2024. Rehearsals took place at another of our "hafans", Aberystwyth Arts Centre, where, in between rehearsals for Time Machine, Sinfonia Cymru musicians workshopped new music by five Welsh composers for the project Cerddwn, working side-by-side with community symphony orchestra Philomusica.
This gave amateur orchestra players the opportunity to play beside Sinfonia Cymru professionals, supported emerging composers to develop their music, and created enthusiasm for contemporary classical music among Philomusica members, many of whom attended a Time Machine performance. In July 2024, Sinfonia Cymru reunited with Philomusica to premiere the five pieces workshopped in February, performing in a railway shed, surrounded by steam locomotives.
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Sinfonia Cymru Trustees Annual Report
“An exhilarating concert. Time Machine is the racy title of Sinfonia Cymru’s latest concert series, a collaboration with the brilliant and versatile guitarist Sean Shibe, assembled by him and putting the electric guitar centre stage. This substantial programme embraced both American and British scores whose fabric involves technology, whether specifically making the connection with audio or film or simply engaging with styles where pulse and rhythm condition thrusting propulsion…David Roche’s new concerto for electric guitar, Chorus in Alto, written for Sean Shibe and jointly commissioned by the Britten Sinfonia, was the main focus. Roche unselfconsciously indulged his own background to include metal and rock with a more classical approach, while at the same time indulging Shibe’s remarkable virtuosity. [It] made for a vibrantly energetic conclusion…A fascinating evening.” Rian Evans for the Guardian 26 February 2024.
The final orchestral concert of the year was “Regenerate: Seasons for Change”. In March 2023, Sinfonia Cymru had been asked to record Vivaldi’s Four Seasons for the series premiere of Sky Arts’ Musical Masterpieces, which was first broadcast in September 2023. Sinfonia Cymru Creative Associate, climate activist and violinist Simmy Singh, in the soloist/Director role, was determined to stamp a Sinfonia Cymru identity on the piece, reimagining the work with percussionist Delia Stevens as co-Director and our chamber orchestra, to reflect the seasons as they are today. They completely restructured Vivaldi’s music and incorporated singing and percussion to communicate climate grief, anger and hope for the future. In summer 2024, we developed this concept into a full concert programme, with the Vivaldi reimagining at its centre, and toured the programme with triple BBC Folk Musician of the Year nominee, Will Pound (harmonica) alongside Simmy and Delia. The programme also included a reimaging of Vaughan Williams’ Lark Ascending, as well as compositions by each of the soloists.
In parallel with the tour, we embedded bespoke participation opportunities for communities surrounding our touring venues, including a pre-concert collaborative performance with Oasis One World Choir (Cardiff choir of refugees and people seeking asylum), and “Music & Nature Connection” sessions with local climate activist groups in four areas of Wales, led by Simmy. You can see a video round-up of this tour here: https://sinfonia.cymru/2024/10/regenerate-round-up/
“This orchestra has transcended its traditional role, using the power of music to immerse the audience in a world where music becomes a catalyst for hope, imagination and the future of our planet. This intersection of art and advocacy not only engages hearts and minds, but offers transformative opportunities to think beyond immediate concerns and imagine a world where our collective desire and right to a healthier, greener, fairer future is a reality…Sinfonia Cymru’s pioneering initiative makes it clear that cultural institutions have a pivotal role to play in shaping the sustainable narrative and mobilising communities towards meaningful change. Artists challenge us to contemplate what could be achieved if each individual, particularly those in positions of influence and power, fully commits to their role in making change a reality.” Hannah Tottle for Climate Cymru, 28th June 2024.
“I am still on Cloud 9 following the amazing concert Regenerate last night in Criccieth. What an amazing performance from all the players. The music was sensational - all consuming. I felt on the edge of my seat wondering how it could get any better and then it did. I felt that I was in the presence of an incredibly cohesive group of players who are passionate about their music.” Audience feedback.
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Sinfonia Cymru Trustees Annual Report
Patrick Rimes and Cerys Hafana tour
In addition to our orchestral series, in February 2024, we worked with guest artists and Welsh folk musicians singer/triple harpist Cerys Hafana and fiddler/composer Patrick Rimes. Five of Sinfonia Cymru’s Welsh-speaking musicians collaborated with Patrick and Cerys on a programme celebrating the unique sounds and landscapes of Wales. For the tour we commissioned Patrick to arrange songs from Cerys’ album Edyf, as well as compose an original suite titled Entrychion (‘High’), inspired by famous climbing routes in the Eryri mountains where he grew up. There was a fantastic audience response to a sold out tour in the Welsh language. In Bangor, several people left the concert teary-eyed, and told Sinfonia Cymru staff that they were particularly moved because the music was written about the landscape many of them were from, and/or because they had a personal connection to Patrick. Two audience members who saw the lunchtime concert at Riverfront enjoyed it so much that they came to the Cardiff performance that evening as well. A further audience member wrote the following:
“Hello, I went to see your performance with Cerys Hafana and Patrick Rimes last Wednesday at the Riverfront and I am creating a painting based on the beautiful performance to let others view what I experienced through your music…Thank you again for a wonderful experience and for the inspiration”
The tour with Patrick and Cerys also offered Welsh-speaking Sinfonia Cymru players opportunities to rehearse, perform and build peer networks working in the language they grew up speaking.
“The project afforded me the invaluable opportunity to collaborate with exceptional musicians in Cerys and Patrick, along with Sinfonia Cymru colleagues. I found this deeply inspiring… Sharing the experience of touring Wales with fellow Welsh musicians was particularly poignant, allowing for a deep bond over shared memories of our musical upbringing. Despite some similar pathways, each of us on this project had our own unique experiences and perspectives within music. By working intensely together over several days we were able to bring out each of our qualities and it felt like the end product was ‘greater than the sum of its parts’.” Mabon Rhyd, viola
Welsh language TV channel S4C commissioned a recording by Orchard TV of one of the pieces for broadcast on Dydd Miwsig (Welsh music day): https://www.youtube.com/watch?v=jV-aHz7l_7k, and this was later broadcast on BBC Radio 3.
Along with the sold-out tour to Newport Riverfront, Ceredigion Museum and Pontio, Bangor, with Patrick and Cerys, we ran a programme of engagement which included: a free performance in a pub in Porter’s pub in Cardiff; a composer workshop, triple harp demonstration and a masterclass with musicians at Bangor University; a side-by-side strings workshop with Patrick, Cerys and the Sinfonia Cymru ensemble playing alongside young musicians from Flintshire Music Service; and an interactive performance at Holton Primary School in Barry.
Whispering Woods
March 2024 saw the culmination of our annual Powys schools project. Powys is the only county in Wales that until recently had no music service or equivalent. Without this central infrastructure for delivering music education, music provision is limited and uneven. Addressing this, each year from December to February, Sinfonia Cymru works with six primary schools in Powys on a song-writing, story-telling and chamber music project which introduces children to orchestral instruments and classical music, and gives pupils the chance to create music, explore their creativity and take part in performances for fellow school children at their local theatre. We worked with each of the six schools to deliver:
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Sinfonia Cymru Trustees Annual Report
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A half-day storytelling workshop, led by bilingual writer and story-teller Tamar Williams, who intertwined ideas that came from the children with traditional Welsh myths, to create a story, called “Whispering Woods” based on a magical tree that was at the centre of a wood involved in conflict – between warring communities, and between people and nature.
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A whole-day workshop with Sinfonia Cymru violinist/songwriter/workshop leader Joy Becker, to write songs to feature in the final performance. The children took part in writing lyrics and musical themes for the songs, which Joy then recorded and sent to the children for them to learn.
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A whole-day stage design workshop led by local artists Hilary and Graham Roberts in which pupils created pieces of art that reflected the story which was then used to make the set for the theatre shows.
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A resource pack which included the story, songs and lyrics to learn, a sheet explaining what to expect when attending a performance, information about the musical instruments used and the music performed by Sinfonia Cymru, and the background of the Welsh folk tales the story drew from.
In March 2024, each school performed their song in their local venue (Hafren, Theatr Brycheiniog, Wyeside Theatre). The story was narrated by Tamar, and a group of four Sinfonia Cymru musicians (including Joy on violin/vocals/guitar, plus a horn, harp and percussion) performed the music with the story. The children’s artwork was displayed as the set. Each class who had received a songwriting workshop took to the stage in their local venue to perform the song they themselves had helped write, providing a fantastic opportunity for the children to feel ownership and a sense of belonging in their local arts venue. In addition, all schools were sent in advance a Welsh traditional song to learn. These were learnt by the classes who had received a songwriting workshop, but also by the wider school, so that other classes attending the performance to watch were able to join in the performance as well.
Over the course of the project, 168 children aged 7-11 and their teachers had the chance to make music, explore their creativity, and take part in interactive performances with Sinfonia Cymru’s musicians and story-teller Tamar Williams. A further 160 children benefited from the project by creating scenic artwork exploring Welsh mythology with artists/set designers Hilary and Graham Roberts that was then displayed on stage at their local arts venues. 1,162 children attended the resulting performances in Wyeside, Hafren and Theatr Brycheiniog.
Mainly Village Halls
In May/June 2024, Sinfonia Cymru undertook a four-week “Mainly Village Halls” tour of 34 free chamber music performances. Our aim was to offer classical music performances of the highest quality to rural communities, reaching people who otherwise have limited or no access to classical concerts or formal concert venues without significant travel. Each week saw a different chamber ensemble visit a different area of Wales, reaching every local authority with performances in pubs, charity shops, miners’ institutes, a fruit and veg shop, schools, museums, care homes and village halls. In each venue, we collaborated with a local Community Ambassador who helped publicise the event to their community. Performances were presented in an accessible and engaging way, with players speaking directly to audiences, introducing the music and instruments, and speaking to audience members after the performances over a drink. To encourage attendance, performances were free, with the option to make a donation. Each week, the repertoire was curated by a Sinfonia Cymru musician. Audience reaction was extremely positive, and demonstrated that the concerts had attracted classical music lovers and people who had never attended a classical concert before:
“It was lovely to hear a live concert. Corwen is an area of wilderness and we have to visit St Asaph or Chester to hear a good concert recital. A brilliant afternoon of music.”
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Sinfonia Cymru Trustees Annual Report
“Super programme. Introduced me to music I didn’t know. Beautiful music from a group of very talented players. Truly magical. Diolch yn fawr!”
“Very enjoyable and different to anything I’ve seen before, except on TV.”
“Interesting programme, beautiful sound and great intro to the delights of strings for my two granddaughters who still cannot believe the range of sound and volume.”
“It’s the only time I’ve seen a live performance. Thank you so much for coming to Pentredwr. Absolutely fabulous – all of you.”
“You made me laugh and cry and you inspired me to press on as a new (but old!) learner of the violin. The sounds and harmonies were absolutely superb – Thank you! The interaction between you also brings life to the music”
“Great choice of music. Real warmth and communication. The whole set was beautifully played but the second part of the Ravel was exquisite. Thank you so much.”
Curate
In the Spring/Summer of 2023/24, Sinfonia Cymru presented three Curate projects – these projects give our players the opportunity to curate a concert of chamber music that tests out a new idea or explores a concept that they are passionate about. For audiences, this provides a chance to experience an emerging idea, something new and often ground-breaking. This year saw us present:
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an environmentally-themed programme, “No Music on a Dead Planet”, for the unusual combination of horn, violin and piano with visual projections, curated by Sinfonia Cymru horn player Lynn Henderson. Each piece of music was paired with a positive action that the audience could take to combat the climate crisis;
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an ethereal programme called “Celtic Tree”, which celebrated the tree as the central symbol for Celtic and druid traditions, through music that fused classical repertoire, original folk music and folk arrangements by Curators David Edward (violin/vocals) and Garwyn Linnell (cello/vocals). Casi Wyn wrote poetry that was woven around the music, and which was performed by Casi in Cardiff and Beth Celyn in Aberystwyth. We recorded some of the tracks at Ratio Studios in Aberbargoed (e.g. https://www.youtube.com/watch?v=-wVujUYu5Qk);
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a family-focussed chamber performance, “Peter & the Wolf… and other stories from around the world”, curated by Llanelli flautist Epsie Thompson, which introduced children and their families to the instruments of the woodwind section alongside stories from Russia, China, UK, France, Australia and the USA that were narrated by the players themselves.
Other
Sinfonia Cymru presented chamber music projects throughout the year, most of which toured to multiple venues, and most of which were curated by the musicians themselves. These included our regular lunchtime concert series at one of our "hafans", the Riverfront Newport.
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Sinfonia Cymru
Trustees Annual Report
We were also pleased to appear in the summer at both the International Musical Eisteddfod in Llangollen (July 2024) and the National Eisteddfod in Pontypridd (August 2024). The appearance in Pontypridd saw Sinfonia Cymru perform alongside National Youth Arts Wales players on the main stage as part of the festival’s closing ceremony; performing three new works by Welsh composers, for the Tlws y Cyfansoddwr in partnership with Ty Cerdd and the National Eisteddfod; and give the premiere of a new Welsh language opera commissioned by Music Theatre Wales, “Bwystfilod Aflan” (Unclean Beasts), which served as the launch of a new partnership between Sinfonia Cymru and Music Theatre Wales that hopes to bring high-quality storytelling in music to more diverse communities across Wales, as well as providing different experiences for our players. At the Llangollen International Musical Eisteddfod, we revived The Whispering Woods, performing for 2000+ children, who were able to join in parts of the performance, singing Welsh traditional songs they had learnt in advance.
FINANCIAL REVIEW
Reserves Policy
The company saw an increase in reserves in the four years up to 2021/22, the result of careful financial planning in the years up to 2020, followed by the pandemic, when we continued to receive ACW grant funding, but were only able to present relatively inexpensive online work due to lock-down restrictions. As we entered the financial year 2023/24, the charity held reserves totalling £321,266.
The Trustees agree that now is the time to reduce these reserves via a series of annual financial deficits, in order to support a significant increase in the level of activity of the organisation. Freelance musicians, and particularly those at the beginning of their careers, were disproportionately and devastatingly affected financially by the pandemic. This has been further exacerbated by the cost of living crisis and cuts to public funding of the arts across the UK. A vital part of our mission is to support early-career musicians, providing them with earnings and artistically developmental and career-enhancing experiences. Sinfonia Cymru’s Trustees therefore agreed during the previous year (2022/23) to focus a strategic reduction of the reserves on increasing activity which achieves these goal, in other words, presenting more concerts or more projects in more locations around Wales and further afield.
Over the five years of this strategy (2022/23 to 2026/27), the increase in activity will be supported by money from reserves. The Board intend that increased expenditure will result in a deficit totalling a £120k over the five years to 2026/27, thus reducing the reserves level to c. £180k. After that point, we want to continue to operate at this higher level of activity. Therefore, specifically, expenditure from reserves will be spent on projects that help raise SC’s profile and/or build relationships with commercial partners, increasing SC’s capacity to secure earned income now and in the future. It is crucial that during these five years, SC continues to raise money from grants and private sources, to enable us to maintain and grow key projects and to demonstrate to ACW that we are able to meet fundraising targets we have laid out in our investment review application.
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Sinfonia Cymru Trustees Annual Report
There are early indications to suggest this strategy is working, with SC now providing circa double the number of working days for musicians as we were pre-pandemic, with approximately triple the number of projects reaching live audiences in Wales. In 2023/24, our work has appeared on Sky Arts, S4C, BBC Radio 3 and Classic FM, and we have launched partnerships with Music Theatre Wales, Aberystwyth University, National Eisteddfod, Llangollen International Musical Eisteddfod, Ty Cerdd, Charanga, Arts Active and Cardiff Music City Festival among others. All of these partnerships have resulted in SC being able to reach more audience members with artistically fulfilling, paid work for our musicians that is supported by partnership income. This also benefits our partners as we provide exceptional musicians, and management support. SC has restructured and is achieving this increased activity on the same ACW funding (ie a decreasing level in real terms). Administrative costs have decreased, by maintaining staffing costs (via a staffing restructure) and becoming a remote-working organisation without office costs. In effect, every £1 of grant funding SC receives is now being stretched further than ever before, benefiting more musicians and more participants, with an increased proportion of our income spent on artistic activity versus administrative costs.
Income/subsidy from new partnerships, economies of scale, more effective orchestra tax relief (OTR) planning, and the UK government’s continuation of Orchestra Tax Relief at the higher rate of 50% (increased during the pandemic, from 25%, and originally expected to reduce during this financial year), have meant that despite increased activity and expenditure, the company achieved a surplus of £20,330 in 2023/24. The Trustees agree that, nevertheless, the strategy of reducing reserves by £120k overall from 2022/23 to 2026/27 (resulting in total reserves of c. £180k by the end of 2027) is the right strategy. The organisation is therefore budgeting for a significant financial deficit in 2024/25, enabling us to present a number of special projects curated by our talented early-career musicians, and reaching more audiences around Wales and beyond.
At year end 2024, the organisation holds £321,195 in reserves. The Trustees have designated this as follows:
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[reserve][of][£120k][to][support][a][strategic][increase][in][activity][2022/23][to][2026/27][as]
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•[Growth] described above
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[Designated Programme Reserve of £100k, to support future activity or special projects that would] not otherwise be achievable through the company’s normal funding structure
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[reserve][of][£75k][to][protect][the][organisation][from][unexpected][shortfalls][in][income][–]
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•[Risk] particularly ticket income, performance fees, and fundraising income
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Free reserves: remaining non-restricted reserves, currently £26,195
Staffing
A staffing restructure took place in March 2024. General Manager Tammy Daly left the organisation to take up a role at National Children’s Orchestras of Great Britain. The General Manager role and the Projects and Concerts Manager roles were merged, with Joseph Evans (previously Projects and Concerts Manager) taking on the role of General Manager. Rebecca Mercer’s (previously Audiences and Communities Co-ordinator) part-time role evolved to focus more on the increasing communities work the organisation is undertaking, now under the title Communities and Partnerships Co-ordinator. Two new members of parttime staff were recruited: Michael Triggs, as Concerts and Projects Assistant, and Ella Roberts as Marketing Assistant. Fundraising has been taken “in house” (the organisation is no longer working with a Fundraising Consultant); Heulwen Davies of Llais Marketing remains as Sinfonia Cymru’s Marketing Consultant.
Trustees
There were no appointments or resignations during the year. Trustees do not receive remuneration and there were no claims for reimbursement of expenses in running the charity.
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Sinfonia Cymru Trustees Annual Report
FUTURE PLANS
The 2024/25 season will see Sinfonia Cymru tour as a chamber orchestra with exceptional soloists: Sidiki Dembélé, Mariatou Dembélé and Modou Ndiaye will present a programme fusing West African, classical and Celtic music in November 2024; virtuoso violinist Hyeyoon Park will perform a newly arranged version of Beethoven’s Violin Concerto for chamber orchestra; and jazz bassist and former BBC New Generation Artist Misha Mullov-Abbado and Australian folk/classical violinist Bridget O’Donnell will present a programme titled Songs for the Earth, exploring folk and classical musical celebrations of the natural world.
As part of our commitment to reach more rural communities across Wales, we will repeat and expand our Mainly Village Halls Tour, taking free performances of chamber music to village halls, cafes, schools, shops and other community spaces across Wales.
Our lunchtime chamber concert series continues at Riverfront, Newport, with chamber tours of these programmes around Wales. Our Curate series, in which we ask players to submit proposals for programmes based around an idea of their choice and we then work with the selected 'curators' to produce the events, also continues.
Our annual project with Primary Schools in Powys will take place again in Spring 2025, supported by Mid Wales Music Trust.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Legal Status
The company was incorporated and commenced its activities on 21 August 1996. The company achieved charitable status on 23 September 1996.
Governing document
Sinfonia Cymru is a charitable company limited by guarantee, incorporated on 21 August 1996. The board is governed by its Memorandum and Articles of Association dated 13 August 1996 and amended on 16 December 2019. In the event of the board being wound up the members are required to contribute an amount not exceeding £1.
Recruitment and appointment of Trustees
Members of the Board of Trustees are appointed or removed by resolution of the trustees. Trustees are appointed to provide expertise in the various skills needed to run the organisation efficiently and effectively.
Trustee induction and training
Upon appointment, new trustees are given an induction pack which includes: a comprehensive Board handbook / Governance Code; recent Board papers; financial information including annual and long-term budgets. When appropriate, training sessions are open to board members where the training is considered useful to their role.
Operating Process
The Board meets at least four times a year, timed to fit with delivery of key targets or information requirements set by the Arts Council of Wales. The Board may form sub-committees in order to delegate specific tasks, processes or projects. Composition, engagement and management of the orchestra, programming, the running of the office, and day-to-day staff matters are delegated to the Chief Executive. The Chief Executive and Chair maintain a regular dialogue between formal Board meetings.
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Sinfonia Cymru Trustees Annual Report
Risk management
The trustees have examined the major risks that the charity faces, in particular those related to the operations and finances, and are satisfied that systems are in place to mitigate the exposure to significant risks.
RESPONSIBILITIES OF THE TRUSTEES
The trustees (who are also directors of Sinfonia Cymru for the purposes of company law) 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).
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 incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant information of which the charitable company's independent examiner is unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
W.M.A. Sterk Chair 30 January 2025
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Sinfonia Cymru Independent Examiners Report
Independent Examiner's Report to the trustees of Sinfonia Cymru
I report to the charity trustees on my examination of the financial statements of Sinfonia Cymru for the year ended 30 September 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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the Charity 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 financial statements 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
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
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:
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accounting records were not kept in accordance with section 386 of the 2006 Act ; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements 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 financial statements to be reached.
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T T Jenkins Jenkins
Chartered Management Accountant
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19 Clos y Carw Llantwit Fardre CF38 2BP
30 January 2025
Page 13
Sinfonia Cymru Statement of Financial Activities
for the year ended 30 September 2024
| Notes Income and endowments from: Donations and legacies 4 Charitable activities 5 Investments 6 Other 7 Total Expenditure on: Raising funds 8 Charitable activities 9 Other 10 Total Net gains on investments Net income/(expenditure) Transfers between funds Net income/(expenditure) before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2024 £ 228,645 76,589 579 117,142 |
Restricted funds 2024 £ 63,000 - - - |
Total funds 2024 £ 291,645 76,589 579 117,142 |
Total funds 2023 £ 268,657 108,089 203 75,819 |
|---|---|---|---|---|
| 422,955 12,668 368,320 21,637 |
63,000 - 63,000 - |
485,955 12,668 431,320 21,637 |
452,768 10,260 407,544 55,365 |
|
| 402,625 - |
63,000 - |
465,625 - |
473,169 - |
|
| 20,330 - |
- - |
20,330 - |
(20,401) - |
|
| 20,330 | - | 20,330 | (20,401) | |
| 20,330 300,864 |
- - |
20,330 300,864 |
(20,401) 321,265 |
|
| 321,194 | - | 321,194 | 300,864 |
Page 14
Sinfonia Cymru Balance Sheet
at 30 September 2024
| at 30 September 2024 | |||
|---|---|---|---|
| Company No. 03240356 |
Notes | 2024 | 2023 |
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 12 | 2,245 | 1,878 |
| 2,245 | 1,878 | ||
| Current assets | |||
| Debtors | 13 | 150,347 | 84,921 |
| Cash at bank and in hand | 180,437 | 231,827 | |
| 330,784 | 316,748 | ||
| Creditors:Amount falling due within one year | 14 | (11,835) | (17,762) |
| Net current assets | 318,949 | 298,986 | |
| Total assets less current liabilities | 321,194 | 300,864 | |
| Net assets excluding pension asset or liability | 321,194 | 300,864 | |
| Total net assets | 321,194 | 300,864 | |
| The funds of the charity | |||
| Restricted funds | 16 | ||
| Unrestricted funds | 16 | ||
| General funds | 26,194 | 26,265 | |
| Designated funds | 295,000 | 274,599 | |
| 321,194 | 300,864 | ||
| Reserves | 16 | ||
| Total funds | 321,194 | 300,864 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 30 January 2025
And signed on its behalf by:
W.M.A. Sterk
Trustee
30 January 2025
Page 15
Sinfonia Cymru Notes to the Accounts
for the year ended 30 September 2024
- 1 Accounting 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 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
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Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
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Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
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Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 16
Sinfonia Cymru Notes to the Accounts
Expenditure
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Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
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Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
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Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
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Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
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Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other 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.
Page 17
Sinfonia Cymru Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 18
Sinfonia Cymru
Notes to the Accounts
3 Statement of Financial Activities - prior year
| 3 Statement of Financial Activities - prior year |
||||
|---|---|---|---|---|
| Income and endowments from: Donations and legacies Charitable activities Investments Other Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Donations and gifts Gift Aid General grants provided by government/public sector Trusts, Foundations and Charitable organisations |
Unrestricted £ 6,817 1,066 220,762 - 228,645 |
Unrestricted funds 2023 £ 237,149 102,289 203 75,819 415,460 10,260 370,236 55,365 435,861 (20,401) (20,401) (20,401) 321,265 300,864 Restricted £ - - - 63,000 63,000 |
Restricted funds 2023 £ 31,508 5,800 - - 37,308 - 37,308 - 37,308 - - - - - Total 2024 £ 6,817 1,066 220,762 63,000 291,645 |
Total funds 2023 £ 268,657 108,089 203 75,819 |
| 452,768 10,260 407,544 55,365 |
||||
| 473,169 | ||||
| (20,401) | ||||
| (20,401) | ||||
| (20,401) 321,265 |
||||
| 300,864 | ||||
| Total 2023 £ 7,926 - 229,223 31,508 |
||||
| 268,657 |
Page 19
Sinfonia Cymru Notes to the Accounts
5 Income from charitable activities
| Concerts and Performances Creative Learning Income Project income 6 Income from investments Interest income 7 Other income Orchestral Tax Relief Theatre Tax Relief |
Unrestricted £ 40,218 167 36,204 76,589 Unrestricted £ 579 579 Unrestricted £ 87,609 29,533 117,142 |
Total 2024 £ 40,218 167 36,204 76,589 Total 2024 £ 579 579 Total 2024 £ 87,609 29,533 117,142 |
Total 2023 £ 107,889 200 - |
|---|---|---|---|
| 108,089 | |||
| Total 2023 £ 203 |
|||
| 203 | |||
| Total 2023 £ 75,819 - |
|||
| 75,819 |
Within Theatre Tax Relief included an amount of £9,238 and £5,330 which are related to FY23 and FY22 Theatre Tax Relief claim.
8 Expenditure on raising funds
| Expenditure on raising funds | |||
|---|---|---|---|
| Fundraising trading costs Advertising, marketing, direct mail and publicity |
Unrestricted £ 12,668 12,668 |
Total 2024 £ 12,668 12,668 |
Total 2023 £ 10,260 |
| 10,260 |
Page 20
Sinfonia Cymru Notes to the Accounts
9 Expenditure on charitable activities
| Unrestricted £ Expenditure on charitable activities Concerts and Performances 244,485 Other staff costs 2,996 Staff wages 120,839 368,320 10 Other expenditure Depreciation Professional, Legal and Consulting General Administrative Establishment Expenses 11 Staff costs No employee received emoluments in excess of £60,000. Total employee benefits received by key management personnel The average monthly number of full time equivalent employees during the year was as follows: Salaries and wages Employers NI Pension costs (defined contribution pension plan) Total staff costs |
Restricted £ 63,000 - - 63,000 Unrestricted £ 1,318 13,767 6,552 - 21,637 45,762 6 2024 £ 111,989 3,525 5,325 - 120,839 |
Total 2024 £ 307,485 2,996 120,839 431,320 Total 2024 £ 1,318 13,767 6,552 - 21,637 |
Total 2023 £ 297,454 4,935 105,155 |
|---|---|---|---|
| 407,544 | |||
| Total 2023 £ 1,038 44,821 5,826 3,680 |
|||
| 55,365 | |||
| 40,726 4 2023 £ 98,060 1,733 4,410 - |
|||
| 104,203 |
Amount of pension contributions recognised in the SOFA as an expense £5,324.72 (2023: £4,410). The charity operates a defined contribution pension scheme for staff. The assets of the scheme are held separately from those of the charity. The contributions are charged to the income and expenditure account and allocated between unrestricted and restricted funds where applicable.
Page 21
Sinfonia Cymru Notes to the Accounts
12 Tangible fixed assets
| Cost or revaluation At 1 October 2023 Additions At 30 September 2024 Depreciation and impairment At 1 October 2023 Depreciation charge for the year At 30 September 2024 Net book values At 30 September 2024 At 30 September 2023 13 Debtors Trade debtors VAT recoverable Other debtors Prepayments and accrued income 14 Creditors: amounts falling due within one year Trade creditors Other taxes and social security Other creditors Accruals Deferred income |
2024 £ 28,143 - 117,142 5,062 150,347 2024 £ 770 2,819 274 6,547 1,425 11,835 |
£ 6,564 1,685 8,249 4,686 1,318 6,004 2,245 1,878 |
£ 6,564 1,685 |
|---|---|---|---|
| 8,249 | |||
| 4,686 1,318 |
|||
| 6,004 | |||
| 2,245 | |||
| 1,878 | |||
| 2023 £ 548 6,192 75,839 2,342 |
|||
| 84,921 | |||
| 2023 £ 10,829 - 989 1,985 3,959 |
|||
| 17,762 |
15 Deferred Income
Movement of the deferred income shown in Creditors: amounts falling due within one year
| At 1 October Released in current year Deferred in current year At 30 September |
2024 £ 3,959 (3,959) 1,425 1,425 |
2023 £ 7,820 (7,820) 3,959 |
|---|---|---|
| 3,959 |
Deferred income as at 30 September 2023 was £2,459 cost of living payment from Arts Council Wales and £1,500 restricted grant from Nugee Foundation for the Powys schools project.
Deferred income as at 30 September 2024 is £1,425 Cardiff Council transfer of restricted grant from N’famady project.
Page 22
Sinfonia Cymru Notes to the Accounts
16 Movement in funds
| 16 Movement in funds | |||||
|---|---|---|---|---|---|
| At 1 October 2023 - - - - - - - - 26,265 75,000 199,599 - 274,599 300,864 |
Incoming resources (including other gains/losses) £ 30,000 12,500 5,000 1,500 1,500 9,000 3,500 63,000 422,955 - - - - 485,955 |
Resources expended £ |
Gross transfers £ - - - - - - - - (20,401) - (99,599) 120,000 20,401 - |
At 30 September 2024 £ - - - - - - - |
|
| Restricted funds: Restricted income funds: Foyle Foundation Colwinston Trust Mid Wales Music Trust Nugee Powys Community Fund PRS Ty Cerdd Total Unrestricted funds: General funds Designated funds: Designated Risk Reserve Designated Programme Reserve Designated Enhanced Programme Reserve Total Total funds |
|||||
| (30,000) | |||||
| (12,500) | |||||
| (5,000) | |||||
| (1,500) | |||||
| (1,500) | |||||
| (9,000) | |||||
| (3,500) | |||||
| (63,000) (402,625) - - - - (465,625) |
|||||
| - | |||||
| 26,194 75,000 100,000 120,000 |
|||||
| 295,000 | |||||
| 321,194 |
Purposes and restrictions in relation to the funds:
| Restricted funds: | |
|---|---|
| Foyle Foundation | Artistic Programming |
| Colwinston Trust | Mainly Village Halls |
| Mid Wales Music Trust | Schools |
| Nugee | Schools |
| Powys Community Fund | Schools |
| PRS | Welsh Commissions |
| Ty Cerdd | Patrick Rimes |
| Designated funds: | |
| Designated Risk Reserve | |
| Designated Programme | |
| Reserve |
Page 23
Sinfonia Cymru Notes to the Accounts
Designated Enhanced
Programme Reserve
17 Analysis of net assets between funds
| Analysis of net assets between funds | |||
|---|---|---|---|
| Fixed assets Net current assets Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 October 2023 £ |
Unrestricted funds £ 2,245 318,949 321,194 Cash flows £ |
Total £ 2,245 318,949 |
| 321,194 | |||
| At 30 September 2024 £ |
|||
| 231,827 | (51,390) | 180,437 | |
| 231,827 231,827 |
(51,390) (51,390) |
180,437 | |
| 180,437 |
18 Reconciliation of net debt
Page 24
Sinfonia Cymru Notes to the Accounts
19 Related party disclosures
Name of related party Description of relationship between the parties
Description of transaction and general amounts involved
Name of related party
Description of relationship between the parties
Description of transaction and general amounts involved
Alistair Vennart
Trustee
Creating musical arrangements for the organisation. Alistair is an established arranger of musical works, and received payment during the year of £1384.08 in line with industry standards.
The Gregynog Trust
The Gregynog Trust's Chair is Carole Anne Davies who is the wife of Sinfonia Cymru trustee Wiard Sterk.
Sinfonia Cymru paid £4158 to Gregynog Hall for venue costs throughout the year. During the year, discussions continued with the Gregynog Trust regarding a partnership between the two organisations. This commenced in the summer of 2022 and will see Sinfonia Cymru creating annual residencies at Gregynog Hall. Sinfonia Cymru was introduced to Gregynog Hall by Carole-Anne Davies, the Chair of The Gregynog Trust. Carole-Anne is married to Sinfonia Cymru trustee, Wiard Sterk. The discussions were started with the former Chief Executive of the Trust and have continued with her successor. Carole-Anne made the initial introduction for the two parties and during the handover period between her Chief Executives, she maintained a holding relationship with Sinfonia Cymru.
Page 25
Sinfonia Cymru Chartered Accountants Report
Sinfonia Cymru
Chartered Accountants Report to the Board of Trustees
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sinfonia Cymru for the year ended 30 September 2024 which comprise the Statement of Financial Activities (Income and Expenditure Account), the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made to the Board of Trustees of Sinfonia Cymru in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sinfonia Cymru and state those matters that we have agreed to state to the Trustees in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that Sinfonia Cymru has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sinfonia Cymru. You consider that Sinfonia Cymru is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the financial statements of Sinfonia Cymru. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lauren Harvey 67 Lakeside Drive CF23 6DE
Page 26