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← Newcastle Upon Tyne Chamber Music Society Limited

2024-05-31-accounts

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

(A charitable company limited by guarantee)

REPORT AND UNAUDITED FINANCIAL STATEMENTS

31 MAY 2024

Registered company number 03433055 Registered charity number 1072960

Armstrong Watson Chartered Accountants Newcastle upon Tyne

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

REPORT AND FINANCIAL STATEMENTS

31 MAY 2024

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 12 Notes to the financial statements

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS

31 MAY 2024

Charity number : 1072960 Company number: 03433055

Website: www.newcastlechambermusicsoc.org.uk

Trustees

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

(Deceased 1 August 2024)

(Chairman)

Company secretary

Sarah Fearon

Registered office

14 Lansdowne Gardens Newcastle upon Tyne NE2 1HE

Independent Examiner

D R Gold Armstrong Watson LLP One Strawberry Lane Newcastle upon Tyne NE1 4BX

Bankers

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

Lloyds Bank Plc 25 Gresham Street London EC2V 7HN

-1-

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MAY 2024

The trustees are pleased to present their report together with the unaudited financial statements of the Society for the year ended 31 May 2024 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.

The trustees wish to express their great sadness at the loss of Malcolm Critten, who was a trustee of the charity. He will be greatly missed.

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.

-2-

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MAY 2024

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 2023-24 season has been highly successful musically, with classics from the repertoire including Dvořák’s Piano Quintet, Beethoven’s Quartet Op 131 and Mozart’s K590 ‘King of Prussia’ Quartet. Concert-goers also heard some intriguing though less familiar works: songs by John Ireland and Dilys Elwyn-Edwards, and Piano Trios by Veress and Winkelman.

The Sacconi Quartet and Emma Abbate opened the season with two towering Piano Quintets, by Dvořák and Shostakovich. The French Quatuor van Kuijk gave us a taste of France, neatly sandwiched between Schubert and Beethoven; and the renowned Brodsky Quartet, on their seventh visit to the Society, were mesmerising in Debussy. Next, baritone James Newby and soprano Sarah Gilford, with pianist Adam Johnson, performed an engaging selection of songs; as an encore they chose an enchanting duet from Don Giovanni. The Amsterdam-based Dudok Quartet, playing with both fire and precision, thrilled the audience with Tchaikovsky and Shostakovich. Lastly, Trio Gaspard were in energetic form playing Haydn, and also two new works (one given as an encore) commissioned to complement the master’s Piano Trios. They rounded off the season with the vigorous and tuneful second Piano Trio by Schumann.

Newcastle Chamber Music Society, both a charity and a company limited by guarantee, continues to be run by a Board of seven volunteer Trustees. The Society’s aim is unchanged: to promote chamber music performance of the highest calibre to enrich the lives of audiences in the region. The Society has not received any formal grants this season, but gratefully acknowledges the generous sponsorship of a concert by a long-term Friend of the Society. Other welcome support comes from current subscribers, donors and Friends. Sadly, a reduction in subscriber numbers since the pandemic means that the Society finds itself less secure than formerly.

-3-

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MAY 2024

Financial review

During the 2023/24 financial year, the Society incurred a deficit of £3,897 compared to a surplus of £6,007 in the preceding year.

Donation income was down this year to £3,922. In 2022/23, the total of £12,880 included a large one off donation and a legacy left to the Society by a long standing subscriber.

Concert income increased overall by over 3%. Although there was a further fall in subscription income of £698, this was more than offset by single ticket sales which saw an increase of £1,394.

There was an increase in concert costs generally although hall hire costs remained at the 2021/22 level. Governance costs (administration and postage charges) were kept to a minimum level. Overall expenditure increased this year by more than 7%

By the end of of 2023/24, as a result of the in-year deficit, the total funds had decreased by more than 9% to £37,371.

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. The trustees continue to be satisfied that available funds are adequate to commit to a future programme of concerts and also secure the availability of The Glasshouse #2, Gateshead in advance of the 2024/25 season.

Plans for future seasons

Trustees will continue to look for opportunities to broaden the scope of concerts and promote chamber ensembles at The Glasshouse, 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.

-4-

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MAY 2024

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 Date: 11 September 2024

-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 charity for the year ended 31 May 2024, which are set out on pages 7 to 12.

Responsibilities and basis of report

As the trustees of the charity (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 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 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.

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work or for this report.

D R GOLD BA, FCA Independent Examiner Armstrong Watson LLP Chartered Accountants Newcastle upon Tyne

Date: 12 September 2024

-6-

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 2024

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		 Unrestricted
Endowment
Total
Total
funds
fund
2024
2023
£
£
£
£
3,922
-
3,922
12,880
22,935
-
22,935
22,156
636
-
636
243
27,493
-
27,493
35,279
31,390
-
31,390
29,272
31,390
-
31,390
29,272
(3,897)
-
(3,897)
6,007
36,268
5,000
41,268
35,261
32,371
5,000
37,371
41,268

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 12 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 2024

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
Endowment fund
Total charity funds
10		 2024
2023
£
£
£
£
2,826
4,121
41,004
42,033
43,830
46,154
(6,459)
(4,886)
37,371
41,268
37,371
41,268
32,371
36,268
5,000
5,000
37,371
41,268

For the year ended 31 May 2024, 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 11 September 2024 and are signed on their behalf by:

Elspeth Scott Chairman

The notes on pages 9 to 12 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 2024

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.

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, a Lloyds Bank treasury account and a Lloyds 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 2024

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 for the year is stated after charging:
Independent examination and accountancy services
4.
Grants and donations
Unrestricted
Restricted
Endowment
funds
funds
fund
£
£
£
Donations
3,922
-
-
Legacies
-
-
-
3,922
-
-		 2024
2023
£
£
1,620
1,056
Total
Total
2024
2023
£
£
3,922
6,143
-
6,737
3,922
12,880

-10-

NEWCASTLE UPON TYNE CHAMBER MUSIC SOCIETY LIMITED

(COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

5.
Income from charitable activities
Concert income:
Subscription income
Single ticket sales
Programme sales		 Unrestricted
Restricted
Endowment
Total
Total
funds
funds
fund
2024
2023
£
£
£
£
£
8,752
-
-
8,752
9,450
13,437
-
-
13,437
12,043
746
-
-
746
663
22,935
-
-
22,935
22,156
6.
Total expenditure
Concert costs:
Artists' fees and expenses
Hall hire
Programme costs and publicity
Box office and programme commission
Ticket handling fee
PRS payments
Piano hire and tuning
Office costs
Accountancy and independent examination
Governance costs
Total expenditure on charitable activities		 Charitable
activities
£
16,700
7,200
918
1,209
1,346
999
603
-
-
28,975
2,415
31,390		 Governance
Total
Total
costs
2024
2023
£
£
£
-
16,700
16,100
-
7,200
7,200
-
918
807
-
1,209
1,096
-
1,346
1,200
-
999
703
-
603
415
795
795
695
1,620
1,620
1,056
2,415
31,390
29,272

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 2024

8.
Debtors
Other debtors
Prepayments and accrued income
9.
Creditors:amounts falling due within one year
Accruals
Deferred income
The deferred income is subscription income received relating
10. Analysis of net assets between funds
Unrestricted income funds
Endowment fund
Analysis of net assets between funds - previous year
Unrestricted income funds
Endowment fund
11. Unrestricted income funds
General fund
Unrestricted income funds - previous year
General fund		 to 2024/25.
Net
current
assets
£
32,371
5,000
37,371
Net
current
assets
£
36,268
5,000
41,268
Balance
2023
Income
£
£
36,268
27,493
Balance
2022
Income
£
£
30,261
35,279		 2024
2023
£
£
656
684
2,170
3,437
2,826
4,121
2024
2023
£
£
3,194
2,947
3,265
1,939
6,459
4,886
Total
Total
2024
2023
£
£
32,371
36,268
5,000
5,000
37,371
41,268
Total
Total
2023
2022
£
£
36,268
30,261
5,000
5,000
41,268
35,261
Balance
Expenditure
2024
£
£
(31,390)
32,371
Balance
Expenditure
2023
£
£
(29,272)
36,268