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2022-05-31-accounts

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

(A charitable company limited by guarantee)

REPORT AND UNAUDITED FINANCIAL STATEMENTS

31 MAY 2022

Registered company number 03433055 Registered charity number 1072960

JOSEPH MILLER Chartered Accountants Newcastle upon Tyne

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

REPORT AND FINANCIAL STATEMENTS

31 MAY 2022

CONTENTS

Page

1 Reference and administrative details
2 to 5 Report of the trustees
6 Independent examiner’s report
7 Statement of financial activities
(Including income and expenditure account)
8 Balance sheet
9 to 13 Notes to the financial statements

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS

31 MAY 2022

Charity number : 1072960 Company number: 03433055

Website: www.newcastlechambermusicsoc.org.uk

Trustees

Malcolm Critten Antony Cullen Sarah Fearon Roger Jay Elspeth Scott (Chairman) Elizabeth Tilling Gabriel Waite

Company secretary

Sarah Fearon

Registered office

14 Lansdowne Gardens Newcastle upon Tyne NE2 1HE

Independent Examiner

D R Gold Joseph Miller Milburn House Dean Street Newcastle upon Tyne NE1 1LE

Bankers

National Westminster Bank Leeds Customer Service Centre 1 Victoria Place Holbeck LS11 5AN

CAF Bank Limited Kings Hill West Malling Kent ME19 4JQ

-1-

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MAY 2022

The trustees are pleased to present their report together with the unaudited financial statements of the Society for the year ended 31 May 2022 which are also prepared to meet the requirements for a directors’ report and financial statements for Companies Act purposes.

Reference and administrative details set out on page 1 form part of this report. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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 – Charities SORP FRS102 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Structure, governance and management

Governing document

The Newcastle upon Tyne Chamber Music Society Limited, a charitable company limited by guarantee, is governed by its Memorandum and Articles of Association.

Appointment of trustees

The Board shall consist of the following: The Chairman of the Society, the Vice Chairman, the Hon. Secretary of the Society, the Hon. Treasurer and not more than four other members, all to be elected at the AGM.

The Board may, if a trustee dies, resigns or becomes ineligible to hold office, appoint a Member to fill a vacancy until the next AGM.

All trustees shall retire from office each year at the AGM but are eligible for re-election.

The trustees for the purpose of charity law, who are also directors for the purpose of company law, who served during the year and up to the date of this report are set out on page 1.

Induction and training of trustees

The induction and training of trustees is dealt with according to individual need.

Organisation

The charitable company is managed by a board of trustees who are responsible for different aspects of the Society’s activities. Trustees meet at regular intervals to review progress with the season’s programmes, manage individual concerts, exercise financial control and make plans for future seasons.

Risk management

The trustees have examined the major strategic, business and operational risks which the Society faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to both lessen these risks and take advantage of key opportunities.

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NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MAY 2022

Objectives and activities

The objective of the Society is to promote high class chamber music concerts in order to foster the public knowledge and appreciation of such music by means of public performances.

The trustees present a series of six chamber music concerts given by artists of international reputation. The aim is to present performances of both standard and less usual works from the chamber music repertoire, performed at the highest level.

In planning and carrying out the Society’s activities for the year, the trustees have considered the guidance produced by the Charity Commission on public benefit including the guidance ‘public benefit: running a charity (PB2)’ and are confident that this is achieved through the chamber music concert series.

Achievements and performance

The 2021-22 concert series has been one of celebration tinged with uncertainty, as the UK has started to emerge from the devastating effects of the pandemic, when no 2020-21 series could be held.

The trustees rightly pulled out the stops for the 140th anniversary of Newcastle Chamber Music Society, whose first concert took place in November 1880, making the Society the oldest in the UK. The landmark anniversary concert took place a year late, but was an unqualified success. The world-famous Takács Quartet gave a programme of Haydn, Janáček and Smetana and was rewarded by a very large and most appreciative audience. For the occasion a display of posters was created to show off the Society’s illustrious past, and a full-colour commemorative programme produced.

The other concerts of the 2021-22 Season were full of variety. Welcome regular performers, the Gould Piano Trio, played Mozart, Dvořák and a recent piece by Edward Rushton; they were followed by an ensemble new to the Society, the clarinettist Emma Johnson with pianist Andrew West and cellist Thomas Carroll. Performances of two late works for clarinet by Brahms - a sonata and a trio - were set off by an early Beethoven Trio and the sonata for cello by Shostakovich. The next concert had to be rearranged as illness affected the booked quartet: however the engaging Quartetto Noûs, who travelled at short notice from Italy, provided a much-appreciated alternative programme. Lastly, two more quartets: the ebullient Maxwells, with their signature Haydn - full of verve, were joined by pianist Huw Watkins for Schumann and Elgar. The series ended with the energetic Škampa Quartet playing Beethoven, Borodin and music by their compatriot, Martinů.

Newcastle upon Tyne Chamber Music Society remains both a charity and a company limited by guarantee. It is run by a Board of seven volunteer trustees who fulfil its aim to promote chamber music performance of the highest calibre to enrich the lives of audiences in the region. Until now, the Society has not received any external funding, and has relied on support from subscribers, donors and Friends. But for the 140th anniversary concert the Board obtained some trust and foundation funding, which defrayed the cost of this very special event.

Since the start of the COVID-19 pandemic, arts organisations world-wide have seen catastrophic closures, cancellations and postponements of events. Despite government financial support for some musicians, the road forward since the worst of the emergency has been uneven, and the future remains uncertain. Following this unique season’s performances, full of variety, the trustees find they are looking ahead with cautious optimism.

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NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MAY 2022

Financial review

During the 2021/22 financial year the Society incurred a deficit of £3,543, compared with a surplus of £9,896 in the preceding year.

Whilst acknowledging grant income totalling £5,250 for the postponed 140th anniversary concert, concert income was restricted to single ticket and programme sales, as the trustees did not feel confident enough to sell a subscription ticket this season. This had a negative impact on donations, as subscribers often top up their payment for season tickets, thus donation income was reduced to £2,050.

As a result of tickets only being available for purchase from the Sage box office, there was a consequential rise in the ticket handling fee and box office commission. Expenditure on artists was higher than in previous seasons as we had grant income available to promote the world class Takács Quartet. Hall hire remained at the 2019/20 level and governance costs (administration and postage charges) were kept to a minimum.

By the end of 2021/22, as a result of the in-year deficit, total funds had decreased by more than 9% to £35,261.

Reserves policy

As noted in previous annual reports, trustees remain mindful of the need to maintain an adequate reserve of funds to uphold the long held policy of planning and committing future programmes well in advance. Despite the reduction in reserves by the 2021/22 year end, trustees continue to be satisfied that available funds are adequate to commit to a future programme of concerts and also secure the availability of Sage 2, Gateshead in advance of the 2022/23 season.

Plans for future seasons

Trustees will continue to look for opportunities to broaden the scope of concerts and promote chamber ensembles at Sage Gateshead. In addition, trustees will continue to explore what other sources of income may be available to the Society to help promote its core activities.

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NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MAY 2022

Responsibilities of the trustees

The trustees (who are also the directors of Newcastle upon Tyne Chamber Music Society Limited for the purposes of company law) are responsible for preparing the report of the trustees 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 year. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper 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. The trustees 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.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

On behalf of the trustees

Elspeth Scott Chairman 24 September 2022

-5-

INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 May 2022, which are set out on pages 7 to 13.

Responsibilities and basis of report

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

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

Independent examiner’s report

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:

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.

D R GOLD BA, FCA Independent Examiner Joseph Miller Milburn House Dean Street Newcastle upon Tyne NE1 1LE 26 September 2022

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NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

(COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 MAY 2022

Note
Income from:
Donations and legacies
4
Charitable activities
5
Investments
Total income
Expenditure on:
Charitable activities
Total expenditure
6
Net (expenditure) income and net
movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
11, 12		 Unrestricted
Restricted
Endowment
Total
Total
funds
funds
fund
2022
2021
£
£
£
£
£
2,050
5,550
-
7,600
12,365
22,310
-
-
22,310
-
11
-
-
11
30
24,371
5,550
-
29,921
12,395
27,914
5,550
-
33,464
2,499
27,914
5,550
-
33,464
2,499
(3,543)
-
-
(3,543)
9,896
33,804
-
5,000
38,804
28,908
30,261
-
5,000
35,261
38,804

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

The notes on pages 9 to 13 form part of these financial statements

-7-

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

(COMPANY LIMITED BY GUARANTEE)

Company number: 03433055

BALANCE SHEET

AS AT 31 MAY 2022

Note
Current assets
Debtors
8
Cash at bank and in hand
Creditors:
amounts falling due within
one year
9
Net current assets
Net assets
Funds of the charity
Unrestricted income funds
11
Restricted income funds
12
Endowment fund
Total charity funds
10		 2022
2021
£
£
£
£
6,333
359
33,467
44,385
39,800
44,744
(4,539)
(5,940)
35,261
38,804
35,261
38,804
30,261
33,804
-
-
5,000
5,000
35,261
38,804

The trustees are satisfied that the charity is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

The trustees acknowledge their responsibilities for:

These financial statements were approved by the trustees and authorised for issue on 24 September 2022 and are signed on their behalf by:

Elspeth Scott Malcolm Critten Chairman Director

The notes on pages 9 to 13 form part of these financial statements

-8-

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

(COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

1. Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The address of the registered office is 14 Lansdowne Gardens, Newcastle upon Tyne, NE2 1HE. The liability of each member in the event of winding up is limited to £1.

2. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated. They 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 - Charities SORP FRS 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) and the Companies Act 2006.

Newcastle upon Tyne Chamber Music Society Limited meets the definition of a public benefit entity under FRS 102.

The financial statements are prepared in sterling which is the functional and presentation currency of the charity.

b) Preparation of the accounts on a going concern basis

The charity has reviewed its forecasts and there is a reasonable expectation that the charity has adequate resources to continue in operational existence for at least the next twelve months and on this basis the charity is considered to be a going concern.

c) Fund accounting

Unrestricted funds

Unrestricted funds are donations, concert income and other income receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Restricted funds

Grants and donations obtained for specific purposes are recognised in the financial statements as restricted funds.

Endowment fund

The endowment fund was created by a gift of £5,000 in 1997 and is held in a capital fund to provide an unrestricted income flow for the charity. Although the endowment is expendable at the trustees discretion, they take the view that the fund would only be spent in exceptional circumstances.

d) Cash at bank

Cash at bank consists of a National Westminster Bank current account and a CAF Bank deposit account.

e) Creditors and provisions

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

-9-

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

(COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

2. Accounting policies (continued)

f) Financial instruments

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

g) Income recognition

All income is included in the statement of financial activities when the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants and donations are included in the statement of financial activities when receivable.

Legacy income is recognised when it is probable that it will be received. Receipt is normally probable when there has been a grant of probate; the executors have established that there are sufficient assets in the estate, after settling any liabilities, to pay the legacy; and any conditions attached to the legacy are either within the control of the charity or have been met.

Income from other trading activities comprises income from fundraising events and is included when receivable.

Income from investments arises from interest bearing deposit accounts and is recognised on a receivable basis.

Income from charitable activities includes income from concerts and is included when receivable.

h) Expenditure recognition

Expenditure is recognised as soon as there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis, inclusive of any VAT which cannot be recovered.

Expenditure on raising funds comprise the costs incurred in raising income from fundraising events.

Charitable expenditure comprises all costs of activities in furtherance of the objects of the charity.

Governance costs comprises all costs incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.

3. Net (expenditure) income

Net (expenditure) income
Net (expenditure) income for the year is stated after charging:
Independent examination and accountancy services
Grants and donations
Unrestricted
Restricted
Endowment
funds
funds
fund
£
£
£
Grants
-
5,550
-
Donations
2,050
-
-
Legacies
-
-
-
2,050
5,550
-		 2022
2021
£
£
960
690
Total
Total
2022
2021
£
£
5,550
-
2,050
2,365
-
10,000
7,600
12,365

4. Grants and donations

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NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

(COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

5.
Income from charitable activities
Concert income:
Subscription income
Single ticket sales
Programme sales
6
Total expenditure
Concert costs:
Artists' fees and expenses
Hall hire
Programme costs
Box office and programme commission
Ticket handling fee
PRS payments
Piano hire and tuning
Publicity
Office costs
Accountancy and independent examination
Governance costs
Total expenditure on charitable activities		 Unrestricted
funds
£
-
21,434
876
22,310		 Restricted
funds
£
-
-
-
-
Charitable
activities
£
18,876
7,200
50
2,017
2,070
550
590
795
-
-
32,148
1,316
33,464		 Endowment
Total
Total
fund
2022
2021
£
£
£
-
-
-
-
21,434
-
-
876
-
-
22,310
-
Governance
Total
Total
costs
2022
2021
£
£
£
-
18,876
1,250
-
7,200
-
-
50
-
-
2,017
-
-
2,070
-
-
550
-
-
590
-
-
795
66
356
356
493
960
960
690
1,316
33,464
2,499

7 Trustees' remuneration and related party transactions

The trustees consider the key management personnel comprise the trustees. No remuneration was paid to the trustees in the current or preceding year. During the current and previous year, no trustee expenses have been incurred.

-11-

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

(COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

8
Debtors
Other debtors
Prepayments and accrued income
9
Creditors:amounts falling due within one year
Accruals
Deferred income		 2022
2021
£
£
309
359
6,024
-
6,333
359
2022
2021
£
£
4,539
690
-
5,250
4,539
5,940

Included in deferred income in 2021 were grants received during the year end 31 May 2021 of £1,000, and grants of £4,250 received in the year ended 31 May 2020 towards the anniversary concert held in November 2021.

10 Analysis of net assets between funds
Unrestricted income funds
Restricted income funds
Endowment fund
Analysis of net assets between funds - previous year
Unrestricted income funds
Restricted income funds
Endowment fund
11 Unrestricted income funds
General fund
Unrestricted income funds - previous year
General fund		 Net
Total
Total
current
2022
2021
assets
£
£
£
30,261
30,261
33,804
-
-
-
5,000
5,000
5,000
35,261
35,261
38,804
Net
Total
Total
current
2021
2020
assets
£
£
£
33,804
33,804
23,908
-
-
-
5,000
5,000
5,000
38,804
38,804
28,908
Balance
Balance
2021
Income
Expenditure
2022
£
£
£
£
33,804
24,371
(27,914)
30,261
Balance
Balance
2020
Income
Expenditure
2021
£
£
£
£
23,908
12,395
(2,499)
33,804

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

(COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

12 Restricted income funds
Edward Rushton’s Game/No Game
140th Anniversary concert		 Balance
Balance
2021
Income
Expenditure
2022
£
£
£
£
-
300
(300)
-
-
5,250
(5,250)
-
-
5,550
(5,550)
-

During the year, a grant of £300 was received from The Schubert Ensemble Trust towards the performance of Edward Rushton's Game / No Game, part of the Gould Piano Trio concert held October 2021.

Grants received in previous years and included in deferred income (note 9) from Catherine Cookson Charitable Trust, Garfield Weston Foundation and the Community Foundation (Pen and Palette Club Fund) were released towards the 140th Anniversary concert held in November 2021.

Restricted income funds - prior year
140th Anniversary concert		 Balance
Balance
2020
Income
Expenditure
2021
£
£
£
£
-
-
-
-
-
-
-
-