2022-08-31-accounts

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

Charity Registration Number: 1068570 Company Registration Number: 03458051

orchestraoftheswan.org

Index to Annual Report and Financial Statements 31 August 2022

Page Report of Strategy and Activity 1 - 13 Trustees and Officers 14 Trustees’ Report 15 - 19 Statement of Trustees’ Responsibilities 20 Independent Examiner’s Report 21 - 22 Statement of Financial Activities Including Income and Expenditure Account 23 Statement of Financial Position 24 - 25 Accounting Policies 26 - 27 Notes to the Accounts 28 - 33

Cover Photograph: Alexis Knight Pictured Left: Gaby Merz

orchestraoftheswan.org

----- Start of picture text -----
Photograph: Woodbury Studios
----- End of picture text -----

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

----- Start of picture text -----
Report of Strategy
and Activity for the year
ending 31 August 2022
----- End of picture text -----

2021-2022 was Orchestra of the Swan’s 26th season, with orchestral residencies in Stratford - upon-Avon, Hereford, Birmingham, Warwick, Coventry and Pershore at a time when the UK was still emerging from the Covid pandemic and live concert performances had tentatively resumed without the need for social distancing of either audience or players.

Crucial Covid Emergency Funding was still sought and secured from the Arts Council England Culture Recovery Fund (Round 3) and Warwickshire County Council, as nervous concertgoers remained reluctant to attend large gatherings, starting the season at just 30% of pre-Covid audience capacity, and ending at around 60%.

Across the region stretching from Birmingham to Cardiff, 19 full scale, 5 family and 18 crossgenre chamber concerts (with 15 or less players) took place featuring conductors Michael Collins (Principal Conductor), Jason Lai (Principal Guest Conductor), Bruce O’Neil, Graham Ross, Rebecca Miller, Richard Laing and Danielle Rosina; soloists included our Associate Artist Trish Clowes (jazz sax), Peter Donohoe (piano), Thomas Gould (violin), Jennifer Witton (soprano), Alasdair Malloy, Rachel Mahon (organ), David Le Page (violin), David Gordon (k/b) and Jim Moray (folk singer); with guest presenters Jim Broadbent, Samuel West, Anton Lesser, Zeb Soanes, David Troughton, Charlie Hamblett, Mogali Masuku, and Graham Padden.

A key development was the onset of our new long-term partnership with the Warwick Schools’ Foundation. Community is at the centre of this partnership, providing access for all talented children to the Foundation’s outstanding musical facilities, ensuring that young people throughout Warwickshire can discover and experience the joys of music. This was delivered through workshops, masterclasses, and open rehearsals, supplemented by a series of 3 concerts in the state-of-the-art concert hall, Warwick Hall to a 1,095-strong audience, many of whom were enjoying the orchestra for the first time. Despite the cancellation of a ‘WOW’ day for visiting secondary pupils in December 2021 due to a localised outbreak of Covid, we managed to deliver a further 2 workshop days on site (a Primary ‘Come & Play’ day, a Secondary ‘Finlandia in a Day’), a workshop day at Wembrook Primary School in Nuneaton and a mentoring session for Foundation pupils; in total, engaging 218 pupils from 13 Warwickshire schools.

1

orchestraoftheswan.org

During City of Culture year, we were proud to work in partnership with Coventry University, who supported our pilot series of 3 cross-genre ‘Night Owl’ concerts in the newly refurbished Drapers’ Hall and a flagship concert in Coventry Cathedral. Our work with university students included 8 dementia training sessions for those undertaking ‘community’ modules, and 4 composition workshops involving 10 students, culminating in a lunchtime concert.

With the onset of the Ukraine war, we played a small part in raising £30k towards the Disasters Emergency Committee Ukraine Appeal. In partnership with the Royal Shakespeare Company and Stratford Music Festival we delivered a performance that melded words and music in the main Shakespeare Theatre to 871 audience members with guest actors, and conductor/soloist Michael Collins. We were very humbled that all our players and guest artists responded so generously by providing their time for free.

Of particular note were the premiere of The Historian , a Saxophone Concerto by Trish Clowes, two performances at the newly opened outdoor amphitheatre at Berrybank Park overlooking beautiful Cotswold countryside, and our partnership with Stratford-based community arts organisation Escape Arts, to mark the Queen’s Jubilee.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

2

Unfortunately, one of our key residencies, the Royal Birmingham Conservatoire, remained covidconscious for the entire season, allowing a maximum of 50% capacity in all their performance spaces (including players and audience) which meant the cancellation of three of our four planned concerts and the continued cessation of all student participation in rehearsals and workshops.

Lessons learned from the previous financial year included the need to continue to build up our digital resource which resulted in the creation of a genuine hybrid business model, that balanced filmed/recorded material with live concert delivery, enabling us to serve both our global digital audience and our regional audience.

Accordingly, and with audience development at the centre of our thinking, our 3rd mixtape album designed for the global audio streaming market - Labyrinths - was released in November 2021 on the Signum Classics label, preceded by four singles and a launch event ‘under the arches’ at Kachette in Shoreditch, London. This album continues the spirit of the mixtape of the 1980’s with a diverse compilation of arrangements and reinterpretations of works by an eclectic mix of composers, taking labyrinthine twists and turns through music from the 14th century to the present day. Featuring guest soloists Jim Moray (folk), Trish Clowes (jazz), Guy Schalom (darbuka) and Nicky Spence (tenor), this album positions arrangements of tracks by Yann Tiersen, Brian Eno, Pink Floyd and Joy Division alongside Peter Maxwell Davies, Purcell, Max Richter, Britten and Piazzolla. Album of the Week on Scala Radio, nominated for a Gramophone Award and placed at No.17 in the Specialist Classical Charts, Labyrinths and its preceding 2 mixtape albums Timelapse and Vivaldi Sleep have, at the time of writing, been audio-streamed 8.1 million times.

3

orchestraoftheswan.org

Labyrinths is a perfectly judged playlist: thoroughly enjoyable, superbly performed. Classical Explorer

A brilliantly conceived, generous and rewarding recording. Highly recommended. Cross-Eyed Pianist

It’s rare I wax lyrical about an entire album, but Labyrinths. That’s partly because when I saw part of it recorded at Saffron Hall it was the first live music I’d heard in months. It was also the moment when I reconnected with musicians from my past – people I’d got to know at the beginning of their careers. Labyrinths is then a musical tribute to the indomitable spirit of musicians, people whose talent I have depended on and am indebted to throughout the pandemic. Thoroughly Good

A further album Façade was released in January 2022 on the Somm Records label with soloists Kevin Whately, Roderick Williams and Tamsin Dalley performing the incidental music to Henry V and Façade by Walton arranged by Ted Watson for just 11 players (woodwind and cellos), bringing our total CD discography to 29 recordings.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

4

Best classical album of the week The Times

In support of Labyrinths , our 6th digital concert was filmed in November 2021 in the Stratford Play House and released free of charge in January 2022, featuring 11 of the 16 album tracks.

As with Timelapse, the joy is to be found in discovering the surprising and delightful connections between culturally disparate and musically contrasting time periods. Perhaps not every track will appeal to everyone, nonetheless it invites listeners to immerse themselves completely in a sonically rewarding and wholly unexpected musical experience. Gramophone

In order to maintain audio streaming momentum, our 4th mixtape album (and 30th album) Echoes was recorded in June, at School Farm Studios for release in May 2023, positioning arrangements for chamber orchestra of Portishead, Frank Zappa, The Velvet Underground and A Winged Victory for the Sullen, alongside Bach, Max Richter, De Falla, Finzi, Jessie Montgomery, Philip Sheppard, Toby Young, David Le Page, Philip Glass and Delius.

In the words of our Artistic Director David Le Page,

“We set out through our mixtape approach to present to current and new audiences the possibility of what an orchestra can be; this goes beyond taste, as it alters the perception of what an orchestra sounds like and what it represents. Hundreds and thousands of individuals have now joined us on this journey….”

5

orchestraoftheswan.org

Our work in the community for people living with dementia

As with our concert/performance delivery, work in the community around our residencies this season followed a hybrid model of digital and live. With most care homes remaining closed to the public, our extensive in-person programme that existed pre-Covid for people living with dementia in care homes, was restricted.

Instead, and noticing a dire need to relieve the loneliness and isolation caused by Covid for people living with dementia and their families, we opened our first participative weekly musicled dementia-friendly café - CAFÉ MUSE - at the Courtyard Theatre in Hereford in August 2021, running from 11am to 2pm with a free lunch, aimed at the Armed Forces community and their families, funded for one year by the Armed Forces Covenant Trust Fund. An immediate success, this café was supplemented in October 2021 by a monthly café in Stratford-upon-Avon (funded by Stratford Town Trust), in Southam (funded by Warwickshire County Council) and by a Veterans Supper Club in Hereford (funded by the Veterans Foundation). During the year, 107 café sessions took place with 1,354 attendances, with each café now enjoying up to 28 participants plus players and helpers per session, filling a considerable void in their lives.

Six volunteers and 3 facilitators were recruited to deliver the cafés including a registered Mental

6

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

Health Nurse working with Veterans and a Veteran QARANC & SSAFA caseworker. All staff and musicians weren trained by Combat Stress in Mental Health First Aid and by Mindsong (music therapy charity) in music delivery for those with dementia. Funding also supported the employment of a Communities and Concert Assistant.

With the success of the cafés, SSAFA The Armed Forces Charity, has recognised The Swan as a partner organisation and Warwickshire County Council and Stratford Town Trust used Café Muse as a case study of best practice in their annual accounts.

In-person delivery was supplemented by 16 workshop sessions in 4 care homes each in Birmingham and Hereford for 82 attendees, and 2 sessions at the Warwickshire Reminiscence Action Project (WRAP) for 40 participants.

Building on our 2020-2021 Musical Share s project, a further five videos were released in October 2021 for people living independently in their homes with dementia supported by downloadable resources for carers (song sheets and discussion prompts) in English, Polish and Welsh. Shared with over 100 UK dementia organisations from primary care trusts to partner care homes and dementia cafés, these themed videos have now been viewed 7,880 times.

7

orchestraoftheswan.org

In Schools

Our Herefordshire schools programme included 3 ‘rural’ concerts at the Steiner Academy, Hellens Manor and St Mary’s Church Ross on Wye, supported by 43 workshops involving 2,374 pupils from 13 primary and 3 secondary schools across the county. For primary schools, players built on the themes and topics from our 6 Musical Journeys SEND videos ( Into the Woods, Under the Sea, Wizards and Magic, The Seasons, Animal Train and Toys & Games ) released via our website between August 2021 and March 2022, with schools encouraged to watch videos in advance and to make use of the free schemes of work that accompanied each video, turning 1 lesson into 6, suitable for half a term of music lessons.

“On behalf of myself and all of the staff, I am emailing to say a massive thank you for organising our visit from Ollie, Sal and Di today. It was absolutely fantastic, and we all enjoyed every minute! The talent was exceptional, their way with the children excellent and I cannot express how mesmerising the performances were! Thank you once again for allowing us this opportunity and for your clear communication from the start. It is very much appreciated. I'm hoping more children will want to take up learning an instrument on top of the big numbers we already have! With all good wishes, and I hope to hear from you in the future”

Victoria Goodman – Head of School, Pencombe C.E School

For secondary students, 3 players explored the Swan’s recent reworking of the 14th century piece, La Rotta – featured on our Timelapse album - outlining the history of the piece, deconstructing and reconstructing the music, focusing on repeated rhythmic passages, the use of musical modes and tonality.

Additional school delivery in Warwickshire, included:

• 3 workshops at Alveston Primary School, Bridgetown Primary and King Edward VI Grammar School in partnership with the Stratford Music Festival engaging 240 children. Astonishingly, it was noted that in the first group of 80 children aged 5-8, not a single child was able to

8

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

recognise a clarinet or oboe, having had very few opportunities to experience orchestral instruments, a salutary lesson in the value of this type of engagement.

• Jubilee Jukebox workshops at Thomas Jolyffe, Welcombe Hills, Coten End and Alveston

• Primaries, enjoyed by 312 children, which culminated in a performance at the Youth Club in the vacated H&M shop in the Bell Court Shopping Centre over the Jubilee weekend to 300 audience members.

This season saw The Swan delivering an international Musical Exchange programme by zoom to Malaysia in partnership with The Rondo Production, funded by the British Council. Malaysian composers and instrumentalists (aged 18 to 28yrs) explored the intersection of Western Classical Music with the Malaysian folk tradition with 5 student composers mentored by Chris Allan (Swan cellist) writing for young, inexperienced instrumentalists who were in turn given instrumental masterclasses by David Le Page (violin), Martha Ann Brooks (trombone), Sally Harrop (clarinet) and Chris Allan ensuring that the final showcase concert on April 3rd was a great success.

Our Work For The Visually Impaired

During the spring and summer terms of 2022, 6 Swan players (joined by 2 students from the Royal Birmingham Conservatoire) returned to Priestley Smith School for the visually impaired in

9

orchestraoftheswan.org

Perry Barr, Birmingham, following a two-year period during Covid where the school was closed to external visitors, and digital engagement was the only option.

Players delivered one ‘meet and greet’ day for primary and secondary pupils, followed by 8 further workshop days, each offering 1 primary and 1 secondary workshop per day and a final sharing concert on Friday 8th July 2022, with on average 52 pupils participating per session.

Primary pupils were able to develop their own songs, undertake instrumental lessons with players and given performance opportunities, side-by-side with our professional players.

Workshops for secondary pupils were composition-led, either based around the adaptation of a familiar tune or the creation of a new composition, contributing towards their Arts Award. Of the children surveyed, over half were interested to learn more about a career in music which indicates just how inspired they were by our players and their music workshop lessons.

By way of continued evaluation, we employed a local videographer to capture some of the workshop activity and the final concert. Two videos were produced: the first, a 20-minute overview of the project with pupils leading their own interviews and discussing the project from their perspective; the second, a full 50 minute recording of the final concert.

Video 1 can be viewed here: https://orchestraoftheswan.box.com/s/9pc9zbu244iufibmbedz5gx1r1znxizc

SENSE TouchBase Pears

During July and August 2022, 4 Swan players worked alongside staff at SENSE TouchBase Pears in Selly Oak, Birmingham, a centre for people living with complex disabilities, particularly the Deafblind.

Players received initial training from SENSE Arts and Wellbeing Manager Sunney Sharma and Resident Music Artist Tim Baker, to explore the methodology and processes for working alongside people with complex needs. This was followed by an 8-session pilot to look at ways

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

10

to develop a future project along our successful Café Muse model to extend this opportunity to people with complex disabilities.

During sessions, players learned about the equipment and techniques available to professional musicians to develop meaningful and engaging projects that can encourage and support people living with complex disabilities, exploring differing terminology and physical conditions that may influence a person’s behaviour during a music session, and how best to adapt their sessions to suit the individual. 56 young people with complex disabilities participated, with most unable to provide feedback due to their disabilities; but players and Sense TouchBase staff observed how participants reacted and engaged extremely positively with the musical activity.

Fundraising

We would like to thank all those involved in the Orchestra of the Swan – players, support staff, volunteers, Friends of the Orchestra and the Friends committee (for their financial, office and front-of-house support), as well as our partners ( corporate and public).

We would particularly like to note the contribution of Niall McChesney, Membership Secretary of the Friends from 2007 until his death in 2020. Niall worked tirelessly to help build the Friends organisation and we are delighted to mark his contribution with a dedication in our next album Echoes . Thank you Niall for your dedicated service, and thank you to Ailsa Logan, Niall’s partner, for her substantial donation that has enabled us to remember him in this way.

At a time of ongoing financial restraint, we are very grateful to our Corporate Partners who have supported our programme this season:

Chris Wheeler Graphic Design Handelsbanken Quotidian Investments

Trust and public funding income remained steady, due to the hybrid model of our activities, reassuring funders that we were able to reach our community despite the pandemic . We would

11

orchestraoftheswan.org

like to thank the following Charitable Trusts/Foundations and public bodies for their very generous support this season:

29th May 1961 Charitable Trust John Ellerman Foundation Adrian Swire Charitable Trust Laslett’s Charities Alan Edward Higgs Charity Lillie C Johnson Charitable Trust Alan Woodfield Charitable Trust Linbury Trust Albright Grimley Charity Lodders Charitable Trust Armed Forces Covenant Fund ‘Positive Pathways’ and Measures Trust ‘Sustaining Support’ Norton Foundation Arts Council England Oldhurst Trust Austin & Hope Pilkington Orchestras Live Baron Davenport’s Charity Perry Family Charitable Trust Blindcare Roger & Douglas Turner Charitable Trust Boshier-Hinton Foundation Radcliffe Trust Brian Shaw Memorial Trust RK Charitable Trust Bring Joy Foundation Saintbury Trust Courtyard Theatre, Hereford Sir Cliff Richard Charitable Trust CPF Trust Sir Robert Gooch Trust David Solomon’s Charitable Trust Steel Charitable Trust Dumbreck Charity Stratford Town Trust Edward Gostling Foundation Stella Symons Charitable Trust Elizabeth Creak Charitable Trust Ulverscroft Foundation Elmley Foundation Veterans Foundation Eveson Charitable Trust Warwickshire County Council Foyle Foundation Wavendon Foundation George Fentham Birmingham Charity WE Dunn Charitable Trust Grantham Yorke Trust William A Cadbury Charitable Trust Herefordshire Community Foundation WPH Trust

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

12

We would also like to thank the many individual donors who provide not only valuable additional resources, but also a personal connection to the local community.

The Future

Having learned the importance of our digital resource (both filmed and audio) during the pandemic from a national and international perspective, we will continue to follow a hybrid model that balances digital with live performance, funding permitting. Likewise, our mixed tape approach to programming, which has so obviously captured the public’s imagination, will continue to be a vital strand.

Our approach to diversity, inclusivity and relevance has taken a leap forward with the formation of a diversity sub-committee to oversee our activities, the adoption of an Inclusivity and Relevance policy, and key diversity targets that we aim to achieve over the course of the next 3 years. Progress has already been made with the addition of 6 black/ethnic minority players to our ‘extras’ list of approved players, a commitment to incorporating a level of diversity in every artistic programme, and the recruitment of a further two diverse Trustees.

As a result, we hope we are in a strong enough position to navigate a challenging arts landscape post Covid, that remains underfunded and fraught with changing political priorities and a national levelling-up agenda.

Debbie Jagla Managing Director

24 March 2023

13

orchestraoftheswan.org

----- Start of picture text -----
Trustees and Officers
----- End of picture text -----

Trustees John W E Liggins (Chair) Nicholas Hodges Kathy Murphy (resigned June 2022) Altaf Kara Christopher Wheeler Nicholas Keegan (resigned January 2023) Edwin Buckhalter (resigned January 2023) Simon Littlewood Marcus Willett Hilary Evans Margaret Wheatley (resigned February 2022) Zoe Wyrko (resigned August 2022) Sunney Sharma (appointed February 2022) Roger Wilson (appointed March 2022)

Charity Number 1068570 Company Number 03458051 Principal Address Warwick Schools' Foundation and Registered Office Myton Road Warwick CV34 6PP

Solicitors Shoosmiths LLP 2 Colmore Square 38 Queensway Birmingham B4 6JB

Independent Examiner Baxters Limited 3 Nightingale Place, Pendeford Business Park, Wobaston Road, Wolverhampton WV9 5HF

14

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

----- Start of picture text -----
Trustees’ Report for
the year ended 31 August 2022
----- End of picture text -----

The Trustees, who are also the directors for the purpose of company law, present their report and the accounts of the charity for the year ended 31 August 2022. These accounts have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102, and the Charities Act 2011.

Objectives

The charity’s objectives continue to be to promote, advance, develop and maintain public education in and appreciation of the art and science of music in all its aspects by presentation of public concerts, recitals, opera, ballet, musical and dramatic works, displays and entertainments of all kinds involving orchestras, the theatre, variety, stage, musicals, radio and television for the public benefit. There has been no change in the objectives during the year.

Structure, Governance and Management

Orchestra of the Swan (the Orchestra) is a company limited by guarantee governed by its Memorandum and Articles of Association dated 26th February 1997 and it is registered as a charity with the Charity Commission.

The Trustees, who are also directors for the purpose of company law, who served during the year and up to the date of this Report are listed on page 14.

The Board has delegated responsibility for the day-to-day operations of the charity to the executive team, including the Managing Director and the Artistic Director.

The Managing Director is responsible for the day-to-day business and financial operations of the charity, staff management and the appointment of new staff, subject to Board approval.

The Artistic Director is responsible for developing the ambitious artistic vision of the Orchestra,

15

orchestraoftheswan.org

the continued delivery of high quality, interesting and innovative programmes and to communicate this vision clearly to funders, staff, Trustees, Friends and other stakeholders. The Artistic Director also appoints the core players of the Orchestra.

The titles of Managing Director and Artistic Director denote executive roles within the company and do not confer on the holders any of the primary responsibilities of Trustees and statutory directors of the company. The Trustees are wholly independent of the executive, do not receive any remuneration as Trustees, and are not accustomed to act in accordance with their wishes and directions.

The Trustees meet approximately six times per annum to receive reports from both the Managing Director and the Artistic Director and to consider those reports as well as to consider the shortand long-term plans for the charity and generally to fulfil their obligations as Trustees.

As part of those obligations the Trustees undertake a regular review of the financial risks that the charity may face and maintain a risk register. This register is intended to:

• Identify the material risks facing the charity

• Establish systems and procedures to mitigate those risks identified in the register

• Implement procedures to minimise the potential liability to the charity should those risks materialise.

In addition, the charity has policies in place on Health and Safety, Child Protection and Vulnerable Adult Safeguarding and Equal Opportunities plus a Statement of Inclusivity and Relevance which is set out in full on our website.

16

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

Board Changes

There have been several changes in the Board’s composition during the period covered in this report. In February 2022, we welcomed to the Board Sunney Sharma who is a senior employee at SENSE, the leading UK and international charity supporting people with multi-sensory impairments and complex disabilities. Sunney leads the cultural and artistic programme at SENSE’s community hub in Birmingham, SENSE TouchBase Pears, and is strongly connected both through the local community and through the cultural, educational and disability network throughout the West Midlands and wider regions.

In March 2022, we also welcomed Roger Wilson to the Board. Roger is the Director of Operations at Black Lives in Music (BLIM), an organisation established to address the continued lack of diversity in the orchestral sector. Roger was Conservatoire trained and is an experienced musician, educator, tour manager and administrator working extensively in the commercial, jazz and classical sectors.

These appointments have not only broadened and deepened the Board’s skillset but have also complemented the Orchestra’s strategy as we continue to develop our offering while reaching out to diverse communities.

During the period covered by these accounts, the Board also saw a number of resignations including Margaret Wheatley (February 2022), Kathy Murphy (June 2022), Zoe Wyrko (August 2022), Nicholas Keegan (January 2023) and Edwin Buckhalter (January 2023). We would like to thank all our outgoing Trustees for their support and guidance during their periods of appointment.

17

orchestraoftheswan.org

Financial Review

Our results for 2021/22 showed a promising improvement as activities were able to resume in full following the disruption caused in previous years by the global pandemic. No reliance on Covid-specific emergency funding and grants was required.

Total income experienced a strong growth during the year of 35% (2021: 15%) up from £562k to £760k.

This was made up of the following:

• Trusts and Foundations (£363k or 48% of total income)

• Box Office and Fees (£252k or 33% of total income)

• Public Grants (£96k or 13% of total income)

• Individuals (£32k or 4% of total income)

• Tax Relief - Gift Aid and Orchestra Tax Relief (£17k or 2% of total income)

With the increase in concerts, engagements and community projects taking place during the year, costs to support such activities also increased, up from £539k to £754k (an increase of 40%).

The net outturn for the year was a surplus of £5,378 (2021: £23,500) boosting our total reserves as at 31 August 2022 by 7% to £80,503 (2021: £75,125), all of which are unrestricted funds.

18

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

Reserves Policy

Orchestra of the Swan has again reviewed its reserves policy, which is to retain sufficient funds in reserve to enable us to manage the company’s affairs so as to be sustainable in the future.

The Orchestra requires reserves to provide for contingencies as they arise. In normal circumstances we programme our concert and dementia activities more than a year in advance, and yet we are heavily reliant on sponsorship and donations which can vary from year to year due to changes in the economic climate and many other factors.

The Trustees are determined to maintain strong financial controls and to continue to build unrestricted reserves over future years until they are equivalent to at least six months’ running costs.

Signed on behalf of the Board of Trustees

John Liggins Chair of Trustees 24 March 2023

19

orchestraoftheswan.org

----- Start of picture text -----
Statement of
Trustees’ Responsibilities
----- End of picture text -----

The Trustees, who are also directors for the purposes of company law, are responsible for preparing the Trustees’ report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity Trustees to prepare accounts for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that year.

In preparing these accounts, the Trustees are required to:

• Select suitable accounting policies and apply them consistently;

• Observe the methods and principles in the applicable Charities SORP;

• Make judgements and estimates that are reasonable and prudent;

• Prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions, disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

20

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

----- Start of picture text -----
Independent Examiner’s Report
to the Trustees of Orchestra of the Swan
(Limited by Guarantee)
----- End of picture text -----

I report to the Trustees on my examination of the financial statements of Orchestra of the Swan (‘the charity’) for the year ended 31 August 2022.

Responsibilities And Basis Of Report

As the Trustees of the company (and also its Directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

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

Independent Examiner’s Statement

Since 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 the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

21

orchestraoftheswan.org

1. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

2. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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

Baxters Limited

Independent Examiner

3 Nightingale Place

Pendeford Business Park, Wobaston Road Wolverhampton WV9 5HF

24 March 2023

22

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

----- Start of picture text -----
Statement of Financial Activities including
Income and Expenditure Account
for the year ending 31 August 2022
----- End of picture text -----

Unrestricted Restricted Total Total Funds Funds 2022 2021 Income Notes £ £ £ £ Donations and legacies 1 165,114 4,896 170,010 155,228 Investment Income 2 130 - 130 66 165,244 4,896 170,140 155,294 Income from charitable activities 3 314,689 257,430 572,119 371,496 Other incoming resources 4 17,569 - 17,569 35,455 Total income 497,502 262,326 759,828 562,245 Expenditure Charitable activities Costs relating to staging performances 444,484 262,326 706,810 488,888 Governance costs 47,640 - 47,640 49,857 Total expenditure 5 492,124 262,326 754,450 538,745 Net surplus/(deficit) 5,378 - 5,378 23,500 Total funds brought forward 75,125 - 75,125 51,625 Total funds carried forward 14 80,503 - 80,503 75,125

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 28 to 33 form part of these accounts.

23

orchestraoftheswan.org

----- Start of picture text -----
Statement of Financial Position
at 31 August 2022
----- End of picture text -----

2022 2021 Fixed assets Notes £ £ Tangible assets 9 7,679 7,694 Investments 10 1 1 7,680 7,695 Current assets Debtors 11 93,596 80,252 Cash at bank and in hand 182,989 250,240 276,585 330,492 Creditors: Amounts falling due within one year 12 (203,762) (263,062) Net current assets 72,823 67,430 Net assets 80,503 75,125 Funds of the charity Restricted Funds 13 - - Unrestricted Funds 14 80,503 75,125 Total charity funds 80,503 75,125

24

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

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

These accounts were approved by the Board of Trustees for issue on 24 March 2023 and are signed on behalf of the board by:

John Liggins Hilary Evans Chair of Trustees Trustee

The notes on pages 28 to 33 form part of these accounts.

25

orchestraoftheswan.org

----- Start of picture text -----
Accounting Policies
----- End of picture text -----

Basis of preparation

These accounts have been prepared on the historical cost basis.

The accounts are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the accounts requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Funds

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

Designated funds – these are unrestricted funds that the Trustees have set aside for a particular purpose. The aim and use of each designated fund is set out in the notes to these financial statements.

Restricted Funds – these are funds received where the donors have imposed specific restrictions on the use of those funds or which have been raised by the charity for specific purposes. The costs of raising and administering such funds are charged to the specific fund.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is classified under headings of the statement of financial activities to which it relates.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

26

Fixed Assets

Tangible assets are stated at cost less accumulated depreciation.

Investments in unlisted equity shares are initially recorded at cost and subsequently measured at fair value.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment (including website) 25% straight line Fixtures 10% straight line

Operating lease

Assets held under finance lease are included and depreciated in accordance with the company’s normal accounting policies. The present value of future rental is shown as a liability. The interest element of rental obligations is charged to the statement of financial activities over the period of the lease in proportion to the balance of capital repayments outstanding.

Rentals payable under operating leases are charged to the statement of financial activities on a straight line basis over the period of the lease.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in the

27

orchestraoftheswan.org

----- Start of picture text -----
Notes to the Accounts
year ended 31 August 2022
----- End of picture text -----

1. Donations and legacies 2022 2021 £ £ Donations and legacies 170,010 155,228 2. Investment income 2022 2021 £ £ Interest receivable 130 66 3. Income from charitable activities Unrestricted Restricted Total Total Funds Funds 2022 2021 £ £ £ £ Orchestral performances 314,689 257,430 572,119 368,496 Sponsorship and advertising - - - 3,000 314,689 257,430 572,119 371,496 The income for orchestral performances includes tickets, programme sales, as well as grants and funding in respect of specific performances and the commissioning and creation of new music for those performances. Further details are set out in the Trustees’ Report that accompanies these accounts. 4. Other incoming sources 2022 2021 £ £ Orchestra Tax Relief 7,233 32,885 CJRS Grant - 897 Other income 10,336 1,673 17,569 35,455

28

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

1. Expenditure Staff Other Total Total Costs Costs 2022 2021 Charitable activities £ £ £ £ Costs relating to staging performances – activities undertaken directly 136,457 570,353 706,810 488,888 Governance costs 38,488 9,152 47,640 49,857 174,945 579,505 754,450 538,745 Included in other costs is depreciation of £3,617 (2021 £2,716) 6. Activities undertaken directly 2022 2021 Other costs relating to costs staging performances comprise: £ £ Players fees 279,045 102,681 Conductor and artistic director fees 25,753 36,192 Music 10,836 6,165 Event management 254,719 224,117 570,353 369,155

Event management includes direct and indirect costs for orchestral performances, other artistic and community projects including hall hire, promotion, advertising, printing, and a proportion of the day-to-day costs of running the Orchestra.

1. Trustees

None of the Trustees (nor any persons connected with them) received any remuneration or benefits from the charity during the year.

29

orchestraoftheswan.org

1. Employees Number of employees The average number of monthly employees during the year was: 2022 2021 Number Number Marketing 1 1 Administration 5 5 6 6 Employment costs 2022 2021 £ £ Wages and salaries 165,157 144,561 Social Security costs 9,788 8,943 174,945 153,504 9. Tangible assets £ Cost At 1 September 2021 16,744 Additions 3,602 Disposals - At 31 August 2022 20,346 Depreciation At 1 September 2021 9,050 Charge for the year 3,617 Disposals - At 31 August 2022 12,667

30

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

1. Tangible assets cont. £ Carrying amount At 31 August 2022 7,679 At 31 August 2021 7,694

2. Investments One Ordinary share of £1 is held in Orchestra of the Swan Trading Limited, being the whole share capital. It was incorporated in England and Wales and has staged certain concerts on behalf of Orchestra of the Swan. No profit was made and its balance sheet reserves are £1 (2021 £1).

3. Debtors 2022 2021 £ £ Trade debtors 34,195 9,406 VAT recoverable - 2,670 Prepayments and accrued income 59,401 68,176 93,596 80,252 12. Creditors: amounts falling due within one year 2022 2021 £ £ Trade creditors 15,433 24,667 Taxes and social security costs 5,500 3,837 Accruals and deferred income 182,829 234,558 203,762 263,062

31

orchestraoftheswan.org

13. Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance Balance at 1 September at 31 August 2021 Income Expenditure 2022 £ £ £ £ Other Specific Projects - 262,326 262,326 - - 262,326 262,326 -

Other specific projects are outlined in the Trustees’ Report and reflect specific grants and donations received which are to fund particular activities that the Orchestra undertakes and where the grant or donor specifies that the funds are to be used for that purpose.

1. Analysis of net assets between funds Unrestricted Restricted Funds Funds Total Fund balances at 31 August 2022 are represented by: £ £ £ Fixed assets 7,680 - 7,680 Current assets 276,585 - 276,585 Creditors: amounts falling due within one year (203,762) - (203,762) 80,503 - 80,503

32

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

1. Operating leases

The total future minimum lease payments under non-cancellable

operating leases are as follows: 2022 2021 £ £ Not later than 1 year 4,500 10,758 Later than 1 year and not later than 5 years - 4,500

4,500 15,258

1. The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office Warwick Schools’ Foundation, Myton Road, Warwick, Warwickshire, CV34 6PP.

2. The Orchestra of the Swan is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £10 to the assets of the charitable company in the event of its being wound up while he or she is a member.

33

orchestraoftheswan.org

34

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2022

----- Start of picture text -----
35
orchestraoftheswan.orgPhotograph: Eugene McLaughlin
----- End of picture text -----

orchestraoftheswan.org Charity number 1068570 Orchestra of the Swan is a member of the ABO