Trustees’ Annual Report for the period
From 01/09/19 To 31/08/20
Charity name: Fulham Symphony Orchestral Society
Charity registration number: 1094899
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | To advance, improve, develop and maintain public education in and appreciation of the art and science of music in all its aspects by the presentation of public concerts and recitals; and for the general purposes of such charitable bodies or for such other purposes as shall be exclusively charitable as the Committee may from time to time decide. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
Giving public concerts for the local community Offering opportunities for local children and families to experience orchestral music, including work with the local authority ‘Tri- Borough Music Hub’. Nurturing young talent by working with soloists and composers at the start of their careers. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees have had regard to the guidance issued by the Charity Commission on public benefit. |
Additional information (optional) You may choose to include further statements where relevant about:
| SORP reference | ||
|---|---|---|
| Policy on grant making | Para 1.38 | |
| Policy on social investment including program related investment |
Para 1.38 |
| Contribution made by volunteers |
Para 1.38 | |
|---|---|---|
| Other |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | The orchestra had planned to perform three concerts as usual at St John’s, Smith Square and at St Paul’s Church, Hammersmith. However, we were only able to perform one concert at St John’s, Smith Square. Owing to the national lockdown brought in with regard to CoVID-19 we were unable to stage our March and June concerts and had to suspend rehearsals. |
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The Society was the beneficiary of hugely generous gifts from Nigel Blake and his brother Stephen. Nigel, our much-loved clarinettist for nearly 25 years and an ex- Chairman, died in 2019 and left a legacy gift (classed as designated funds), to which Stephen added his own restricted gift (classed as restricted funds). A fund was created which will support special projects over the coming decade, support young artists and enable the commissioning of new works. A fund management team has been set up by the Committee to manage the legacy and oversee how it is spent and invested. The team includes Stephen and Nigel’s friend and fellow former FSO clarinettist Jonathan Walsh. Despite having to cancel two of three planned concerts, the Society is in a stronger financial position at the end of the period, having achieved an operational surplus of £6,354 over the 12 months. This was in part achieved due to the generosity of the Society’s members and supporters, who continued to pay their subscriptions or donate refunds from cancelled tickets during the periods when we could not rehearse or perform. The surplus in the year allowed the Society to maintain its reserves and to be in a sound financial position as we plan to get back to rehearsing and performing as and when CoVID-19 restrictions lift. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Our policy is to hold a reserve of £8,000 to cover financial failure of an event (for example, severely reduced audience numbers) or the withdrawal of sponsorship from Novotel who provide our rehearsal space. Any additional surplus is retained for use on future projects, the acquisition of assets or other expenditure which the trustees consider appropriate and in line with the society’s objectives. |
| Amount of reserves held | Para 1.22 | £ 26,953 (unrestricted funds) £ 30,161 (designated funds) £ 70,376 (restricted funds) |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the |
Para 1.23 | N/A |
charity continuing as a going concern
Additional information (optional)
You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | Our principal sources of funds are orchestra members’ subscriptions and concert ticket sales. We benefit from the sponsorship of the Novotel hotel chain, which provides us with free rehearsal space in Hammersmith as part of their corporate social responsibility programme. |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | |
| A description of the principal risks facing the charity |
Para 1.46 | |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 |
Constitution |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Association |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Election by members Appointment by existing trustees |
Additional information (optional) You may choose to include further statements where relevant about:
Para 1.51 Policies and procedures adopted for the induction and training of trustees
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
|---|---|---|
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charityname | FulhamSymphony OrchestralSociety |
|---|---|
| Other name the charity uses | Fulham Symphony Orchestra |
| Registered charity number | 1094899 |
| Charity’s principal address | 35 Weymouth Avenue, London, W5 4SB |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee(if any) |
|---|---|---|---|---|
| Gavin Compton | ||||
| Richard Stone | ||||
| Sharon Robinson | Chair | |||
| Tanya English | ||||
Corporate trustees – names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) |
|---|---|---|
| Type of adviser Name Address |
||
| Name of chief executive or names of senior staff members (Optional information) | ||
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations The trustees declare that they have approved the trustees, report above. Signed on behalf of the charitys trustees Signature(s) Full name(s) Position (eg Secretary. Chair, etc) Richard Stone Treasurer Date 1410312021
Fulham Symphony Orchestral Society – Financial Statements Y/E 31 Aug 20
Fulham Symphony Orchestral Society
Registered Charity No. 1094899
Financial Statements for the year ended 31 August 2020
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Fulham Symphony Orchestral Society – Financial Statements Y/E 31 Aug 20
REPORT OF THE TREASURER
There were two main factors impacting the accounts of the Society in the year to 31 August 2020.
The first, which will have a long and positive impact, was the hugely generous gifts from Nigel Blake and his brother Stephen. Nigel, our much-loved clarinettist for nearly 25 years and an ex-Chairman, died in 2019 and left a legacy gift (classed as designated funds), to which Stephen added his own restricted gift (classed as restricted funds). A fund was created which will support special projects over the coming decade, support young artists and enable the commissioning of new works. A fund management team has been set up by the Committee to manage the legacy and oversee how it is spent and invested. The team includes Stephen and Nigel’s friend and fellow former FSO clarinettist Jonathan Walsh.
The second factor, which has hugely impacted the whole music community and wider society in 2020, was the COVID-19 pandemic. The orchestra was in final preparations for a concert planned for 21st March 2020 when it became clear that it could no longer go ahead for safety reasons, just ahead of the first national lockdown. Due to the prompt action taken by the Committee, it was possible to cancel the concert without incurring many of the costs, including hall hire, guest player fees and staging. Ticket refunds were offered, but many people who had bought tickets in advance kindly opted to either donate their ticket price to the orchestra (£410), or to Pancreatic Cancer UK (£524), which was the charity that we had planned to collect for during the concert in memory of Nigel Blake. With the income from Members subs and Friend donations, along with Gift Aid, the Spring term contributed £1,473 to the surplus.
The pandemic prevented the orchestra meeting to rehearse for the Summer ’20 concert, which was also cancelled. Many Members and Friends of the orchestra kindly continued to pay subscription fees and donations during the term which, with very few costs incurred, contributed £2,850 to the surplus recorded in the accounts (including Gift Aid).
Before the lockdown and other restrictions in 2020, the orchestra performed a successful concert in November 2019 which included Bartok’s Concerto for Orchestra and a Brahms’ Piano Concerto No. 1 with a particularly fine performance by the soloist Richard Uttley. Financially, the concert made a small contribution of £391 towards the surplus.
Regarding other income, the Society was again successful in applying for a grant from the London Borough of Hammersmith and Fulham. Interest income on the fund balance invested in a savings account contributed a further £537.
The orchestra’s annual ‘Weekend Away’ in January (offsite rehearsals) was well attended. Associated income and expenses are recorded separately in the accounts. The net impact of these events to the Society accounts is zero.
The Society benefits from a contribution to costs that its trading subsidiary, Fulham Symphony Orchestra Limited (FSO Ltd), is able to make through being able to claim Orchestra Tax Relief (OTR) on the costs of producing the main concerts on behalf of the Society. £1,113 was contributed related to 2019-20. Related accounting fees are netted from the contribution.
BASIS OF PREPARATION
As in 2018-19, the accounts have been prepared on an accruals basis, recognising income when it first becomes receivable and expenditure when a liability for that expenditure first arises.
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Fulham Symphony Orchestral Society -- Financial Statements Y/E 31 Aug 20
INDEPENDENT EXAMINERS REPORT TO THE TRUST S OF THE FULHAM SYMPHONY ORCHESTRAL SOCIETY
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 ("the Act"). The charity's trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act,
-
to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the
-
Act), and
-
to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
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J.D. Seddon ACA 21 Southmoor Road Oxford
OX2 6RF
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Fulham Symphony Orchestral Society – Financial Statements Y/E 31 Aug 20
INCOME STATEMENT FOR THE YEAR ENDED 31[st] AUGUST 2020
| Concert income Member subscriptions Legacy Gift Sponsorship, donations & ‘Friends’ Advertising Gift Aid Interest Other ‘Weekends Away (Jan ’19)’ deposits ‘Weekends Away (Jan ’20)’ deposits TOTAL INCOME Box office commission Concert programmes, flyers and tickets Conductor & Leader Hall hire Instrument hire and transportation Insurance and Making Music membership Music hire and commissioning Performing Rights Society fees Rehearsals & Sectionals Soloists & Guest Players Staging hire Sundry concert costs and other expenses Write-back of over-accrual ‘Weekend Away (Jan ’19)’ costs ‘Weekend Away (Jan ’20)’ costs Expenditure absorbed by FSO Ltd TOTAL EXPENDITURE Surplus/(Deficit) for the period |
Designated Funds (£) Restricted Funds (£) Unrestricted Funds (£) - - 1,520 - - 8,756 30,000 70,000 - - - 2,066 - - - - - 1,877 161 376 - - - 1 - - - - - 4,779 |
2019/20 Total (£) 2018/19 Total (£) 1,520 9,361 8,756 10,530 100,000 - 2,066 3,024 - 240 1,877 1,936 537 - 1 25 - 4,810 4,779 - |
|---|---|---|
| 30,161 70,376 18,999 |
119,536 29,925 |
|
| - - - - - 216 - - 3,460 - - 1,446 - - 570 - - 407 - - 539 - - 46 - - 578 - - 1,530 - - - - - 188 - - - - - - - - 4,779 - - (1,113) |
- 1,364 216 676 3,460 5,190 1,446 6,275 570 1,919 407 485 539 1,430 46 226 578 270 1,530 4,608 - 432 188 648 - (1,500) - 4,810 4,779 - (1,113) (2,657) |
|
| - - 12,645 |
12,645 24,176 |
|
| 30,161 70,376 6,354 |
106,891 5,749 |
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Fulham Symphony Orchestral Society – Financial Statements Y/E 31 Aug 20
ASSETS AND LIABILITIES AS AT 31[st] AUGUST 2020
| Cash at Bank Accrued Revenue Subscriptions Receivable GiftAid Receivable1 Prepaid Expenditure Due from FSO Ltd Fixed Assets2 Total Assets Accrued Expenses Total Liabilities NET ASSETS |
Designated Funds (£) Restricted Funds (£) Unrestricted Funds (£) 30,161 70,376 20,817 - - - - - 90 - - 1,878 - - - - - 4,169 - - see below |
31 Aug 2020 31 Aug 2019 121,353 13,308 - 2,961 90 805 1,878 1,936 - - 4,169 1,590 see below see below |
|---|---|---|
| 30,161 70,376 26,953 - - - |
127,490 20,600 - - |
|
| - - - |
- - |
|
| 30,161 70,376 26,953 |
127,490 20,600 |
1 GiftAid is claimed from HMRC for the whole accounting year in arrears. This means that, at the end of each accounting year, GiftAid is receivable on eligible subs and donations paid during the period (less an allowance for benefits gained by Members from tuition). At 31 Aug 2020, £1,878 of Gift Aid was receivable. This amount was successfully claimed in Oct 2020.
2 The society owns a library of music containing several items which are available for hire. Its historic cost (from 1990s, + £250 addition in 2010) is £5,311. It is difficult to obtain a current valuation for the library and, as such (and in line with Charities SORP guidance) no estimate has been made in the accounts. The society also owns a set of music stands which have negligible monetary value and are treated as an expense in the year of acquisition.
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Fulham Symphony Orchestral Society – Financial Statements Y/E 31 Aug 20
Fulham Symphony Orchestral Society
Registered Charity No. 1094899
Financial Statements for the year ended 31 August 2020
-1-
Fulham Symphony Orchestral Society – Financial Statements Y/E 31 Aug 20
REPORT OF THE TREASURER
There were two main factors impacting the accounts of the Society in the year to 31 August 2020.
The first, which will have a long and positive impact, was the hugely generous gifts from Nigel Blake and his brother Stephen. Nigel, our much-loved clarinettist for nearly 25 years and an ex-Chairman, died in 2019 and left a legacy gift (classed as designated funds), to which Stephen added his own restricted gift (classed as restricted funds). A fund was created which will support special projects over the coming decade, support young artists and enable the commissioning of new works. A fund management team has been set up by the Committee to manage the legacy and oversee how it is spent and invested. The team includes Stephen and Nigel’s friend and fellow former FSO clarinettist Jonathan Walsh.
The second factor, which has hugely impacted the whole music community and wider society in 2020, was the COVID-19 pandemic. The orchestra was in final preparations for a concert planned for 21st March 2020 when it became clear that it could no longer go ahead for safety reasons, just ahead of the first national lockdown. Due to the prompt action taken by the Committee, it was possible to cancel the concert without incurring many of the costs, including hall hire, guest player fees and staging. Ticket refunds were offered, but many people who had bought tickets in advance kindly opted to either donate their ticket price to the orchestra (£410), or to Pancreatic Cancer UK (£524), which was the charity that we had planned to collect for during the concert in memory of Nigel Blake. With the income from Members subs and Friend donations, along with Gift Aid, the Spring term contributed £1,473 to the surplus.
The pandemic prevented the orchestra meeting to rehearse for the Summer ’20 concert, which was also cancelled. Many Members and Friends of the orchestra kindly continued to pay subscription fees and donations during the term which, with very few costs incurred, contributed £2,850 to the surplus recorded in the accounts (including Gift Aid).
Before the lockdown and other restrictions in 2020, the orchestra performed a successful concert in November 2019 which included Bartok’s Concerto for Orchestra and a Brahms’ Piano Concerto No. 1 with a particularly fine performance by the soloist Richard Uttley. Financially, the concert made a small contribution of £391 towards the surplus.
Regarding other income, the Society was again successful in applying for a grant from the London Borough of Hammersmith and Fulham. Interest income on the fund balance invested in a savings account contributed a further £537.
The orchestra’s annual ‘Weekend Away’ in January (offsite rehearsals) was well attended. Associated income and expenses are recorded separately in the accounts. The net impact of these events to the Society accounts is zero.
The Society benefits from a contribution to costs that its trading subsidiary, Fulham Symphony Orchestra Limited (FSO Ltd), is able to make through being able to claim Orchestra Tax Relief (OTR) on the costs of producing the main concerts on behalf of the Society. £1,113 was contributed related to 2019-20. Related accounting fees are netted from the contribution.
BASIS OF PREPARATION
As in 2018-19, the accounts have been prepared on an accruals basis, recognising income when it first becomes receivable and expenditure when a liability for that expenditure first arises.
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Fulham Symphony Orchestral Society -- Financial Statements Y/E 31 Aug 20
INDEPENDENT EXAMINERS REPORT TO THE TRUST S OF THE FULHAM SYMPHONY ORCHESTRAL SOCIETY
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 ("the Act"). The charity's trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act,
-
to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the
-
Act), and
-
to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
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%-
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J.D. Seddon ACA 21 Southmoor Road Oxford
OX2 6RF
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Fulham Symphony Orchestral Society – Financial Statements Y/E 31 Aug 20
INCOME STATEMENT FOR THE YEAR ENDED 31[st] AUGUST 2020
| Concert income Member subscriptions Legacy Gift Sponsorship, donations & ‘Friends’ Advertising Gift Aid Interest Other ‘Weekends Away (Jan ’19)’ deposits ‘Weekends Away (Jan ’20)’ deposits TOTAL INCOME Box office commission Concert programmes, flyers and tickets Conductor & Leader Hall hire Instrument hire and transportation Insurance and Making Music membership Music hire and commissioning Performing Rights Society fees Rehearsals & Sectionals Soloists & Guest Players Staging hire Sundry concert costs and other expenses Write-back of over-accrual ‘Weekend Away (Jan ’19)’ costs ‘Weekend Away (Jan ’20)’ costs Expenditure absorbed by FSO Ltd TOTAL EXPENDITURE Surplus/(Deficit) for the period |
Designated Funds (£) Restricted Funds (£) Unrestricted Funds (£) - - 1,520 - - 8,756 30,000 70,000 - - - 2,066 - - - - - 1,877 161 376 - - - 1 - - - - - 4,779 |
2019/20 Total (£) 2018/19 Total (£) 1,520 9,361 8,756 10,530 100,000 - 2,066 3,024 - 240 1,877 1,936 537 - 1 25 - 4,810 4,779 - |
|---|---|---|
| 30,161 70,376 18,999 |
119,536 29,925 |
|
| - - - - - 216 - - 3,460 - - 1,446 - - 570 - - 407 - - 539 - - 46 - - 578 - - 1,530 - - - - - 188 - - - - - - - - 4,779 - - (1,113) |
- 1,364 216 676 3,460 5,190 1,446 6,275 570 1,919 407 485 539 1,430 46 226 578 270 1,530 4,608 - 432 188 648 - (1,500) - 4,810 4,779 - (1,113) (2,657) |
|
| - - 12,645 |
12,645 24,176 |
|
| 30,161 70,376 6,354 |
106,891 5,749 |
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Fulham Symphony Orchestral Society – Financial Statements Y/E 31 Aug 20
ASSETS AND LIABILITIES AS AT 31[st] AUGUST 2020
| Cash at Bank Accrued Revenue Subscriptions Receivable GiftAid Receivable1 Prepaid Expenditure Due from FSO Ltd Fixed Assets2 Total Assets Accrued Expenses Total Liabilities NET ASSETS |
Designated Funds (£) Restricted Funds (£) Unrestricted Funds (£) 30,161 70,376 20,817 - - - - - 90 - - 1,878 - - - - - 4,169 - - see below |
31 Aug 2020 31 Aug 2019 121,353 13,308 - 2,961 90 805 1,878 1,936 - - 4,169 1,590 see below see below |
|---|---|---|
| 30,161 70,376 26,953 - - - |
127,490 20,600 - - |
|
| - - - |
- - |
|
| 30,161 70,376 26,953 |
127,490 20,600 |
1 GiftAid is claimed from HMRC for the whole accounting year in arrears. This means that, at the end of each accounting year, GiftAid is receivable on eligible subs and donations paid during the period (less an allowance for benefits gained by Members from tuition). At 31 Aug 2020, £1,878 of Gift Aid was receivable. This amount was successfully claimed in Oct 2020.
2 The society owns a library of music containing several items which are available for hire. Its historic cost (from 1990s, + £250 addition in 2010) is £5,311. It is difficult to obtain a current valuation for the library and, as such (and in line with Charities SORP guidance) no estimate has been made in the accounts. The society also owns a set of music stands which have negligible monetary value and are treated as an expense in the year of acquisition.
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