REGISTERED CHARITY NUMBER: 1083071 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR THE WELSH CHAMBER ORCHESTRA UMITED Graham Paul Limited Court House Court Road Bridgend CF311BE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Independent Examiner's Report ststement of Flnanclal Activities Balance Sheèt Notss lo the Financlal Statsments 7 to 13 Detailed Ststsment of Flnanclal Actlvltieg 14 REPORT OFTHE TRUSTEES FOR THE YEAR ENDED31 MARCH 2024 The trustees who are also directors of the charity for the purposes of the Cornpanies Act 2006, present their report with the financial statements of the chanty for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities preparins their accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectlves and aims The core aims of the Welsh Chamber Orchestra are to promote the enjoyment, by the public, of chamber archestral music in Wales by perf0mlan￿S of the highest professional standards, and to promote the enjoyment and development cf chamber orchestral music in schools through workshops and schools c£)ncerts. Signlficant activitie5 The orchestra gave nin& live ccncerts during 2023-24. The venues performed at were.. Canolfan Beaumaris as part of the Beaumaris Festival, William Aston Hall, Wrexham, St Elli Church (Llanelli Music Club), Tali8sin Arts Centre, Swansea, Theatr Brycheiniog, Brecon, Aberysivryth Arts Centra, Torch Theatre, Milford Haven. StAndrew's Church, Cury Rivel and Rhyl Town Hall. All concerts were received with significant success with repertoire including works by Mendelssohn, V8ughan Williams, Schubert. Boyce, Warlock, Finzi, Debussy, Hayén, Handel & Mozart alongside a new work by Gareth Olubunmi Hughes. Social investments The trustees have had due regard to the Charity Commission's guidance on public benefit. FINANCIAL REVIEW Financial posltlon There was a deficit of income over expenditure for the year of £14,97712023 - £27,308 surplus) The balance of reserve5 as at 31 March 20243 was £46,894 (2023 - £61,871) The Welsh Chamber Orchèstra was in receipt of grants from Arts Ccuncil of V41ales. R•s•rves policy The directors havè eslabllshed 8 policy whereby unrestricted funds not committed or invested in tangible fixed assets ('the free reserves,) held by the charity should be between 3 and 6 months of the resources expended which equates to £2,000 and £2.500 in general funds. STRUCTURE, GOVERNANCEAND MANAGEMENT Governlng document The organisation is a charitable company limited by Guarantee, incorporaled on 10 February 1987 and registered as a charity on 27 October 2000. The company was established under a Memorandum of Association which estsblishes the objects and powers of the charitable cornpany and is governed by Its Articles of Association. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02098243 (England and Wales) Regl8t8red Charlty numbar 1083071 THE WELSH CHAMBER ORCHESTRA LlkllTED (REGISTERED NUMBER: 020091431 REPOR T OF THE TRUSTEÉS FOR THE YEAR EPIDED 31 MARCH 2024 ft*gl•i•rnd 9ffl Co(Jrt Rapd CF31 i8F. Capl Slr - l.thvard8 APHD5e D J p1W￿ Ire$•Jr*d &1 ) 24J Corw G W A H￿Cert)e Mr• K M Ptb•lpg ¢apFunted 21.1241 Company S•crnl•ry DJPWp3 d•p•nd¢rf Examln Graham Paul L4ni1•d CoLffl ￿4￿$• CoL•t Road CF3118É by arow tsf1M boaftl of IIu5te&$ ￿ . I i/t/zt Sgned M Ils by DJP Socrfery THE WELSH CHAMBER ORCHESTRA LIMITED Independent èxamlner's report to the trustees of The Welsh Chamber Orchestra Llmit•d ('th• Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilltles and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company lawl you are responsible for th8 preparation of the accounts in accordance with the requirements of the Companies Act 20CK (Ihe 2006 Act,). Having satisfied myself that the Bccounts 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 charitls accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carying OLrt my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiners Statement I have completed my examination. I confirm that no matters have Gorne to my attention In connedion with the examination giving me cause to believe.. accounting records V￿re not kept in respect of the Company as required by Section 386 of thè 20CNS Act., or the ac￿untS do not ac￿rd with those records,. or the accounts do not comply with the accounting requlrements of Section 3* of the 2006 Act other than any requirement that the accounls give a true and fair view which is not a matter considered as part of an independent examination. or 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 accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be dRwn in this report in order to en8ble a proper understanding of the accounts to be reached. J Payne ACA Graham Paul Lirnited Court House Court Road Bridgend CF31 1BE 19 August 2024 STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 27,500 27,500 56,958 Other trading activities Investment income other income 11,893 145 34,861 11,893 145 34,861 42,999 29,329 Total 46,899 27,500 74,399 129,286 EXPENDITURE ON Raising funds 11,703 11,703 14.826 Charltable activities Concerts 22,673 55,000 77,673 87.152 Totsl 34,376 55,000 89,37e 101,978 NET INCOMEI(EXPENDITURE) 12,523 (27,500) (14,977) 27,308 RECONCILIATION OF FUNDS Total funds brought forward 11,871 50,000 61,871 34,563 TOTAL FUNDS CARRIEO FORWARD 24.394 22,500 46,894 61,871 The notes forn part of these financial statements BALANCE SHEET 31 MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible assets 93 116 CURRENT ASSErs Cash at bank and in hand 48,601 63.555 CREDITORS Amounts falling due within one year 10 (1.800) (1,800) NET CURRENT ASSETS 46,801 61,755 TOTAL ASs￿s LESS CURRENT LIA81UTIES 46,894 61,871 NET ASSETS 46,894 61,871 FUNDS Unrestricted funds Restricted funds 12 24,394 22,500 11,871 50,000 TOTAL FUNDS 46,894 61,871 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the yèar ended 31 March 2024. The members have not required the company to obtain an audit of its financial statèments for the year ended 31 March 2024 in 8ccordance wth Section 476 of the Companies Act 2006. The trustees acknowt8dge their re6ponsibilities for (a) ensuring that the charitable company keeps acccunting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a tnje snd falr vlew of the state cf affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial slatements, so far as applicable to the charitable company. (b) The notes form part of these financial statements continued... rHE WEL8H CHAMBER ORCHESTFIA UMITED IREGISTERÉO 14UMBER.' 020962431 8ALANCE SHEET - contlhu•d JI IAARCH 2024 The# S￿•1￿*nI4 lkn EJW Im¥¢d In •C¢￿aInc* wrftt tt* provA