2024-08-31-accounts - Fulham Symphony Orchestral Society

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Trustees’ Annual Report for the period

From 01/09/23 To 31/08/24

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
	Para 1.38
Policy on grant making
Policy on social investment	Para 1.38
including program related
investment

Para 1.38 Contribution made by volunteers 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 performed three successful and well-attended concerts in the year, which were all at St John’s Smith Square, partly due to Hammersmith Town Hall being unavailable due to ongoing renovations. The orchestra looked to reflect diversity in its programming over the year, including showcasing pieces by Bonis, Rubinstein and El-Turk.

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 charity was in a good financial position at the end of the period, having made a £1,837 surplus during the year and through holding reserves thanks to a legacy fund.
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	£134,844
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 charity continuing as a going concern	Para 1.23	N/A

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	The principal risks are that Novotel, Hammersmith withdraws its longstanding sponsorship, which is in the form of free rehearsal space and that the Government reduces the level of Orchestra Tax Relief.
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:

Policies and procedures adopted for the induction and training of trustees	Para 1.51
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

Charity name	Fulham Symphony Orchestral Society
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

Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
Gavin Compton			Members
Richard Stone	Treasurer		Members
Sharon Robinson	Chair		Members
Nicholas Pitt	Secretary		Members
Grant Wilder		Resigned 20 Aug2024	Members
Juliette Morris			Members
Michelle Taute			Members

– 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
Richard Stone

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity	Shares in Fulham Symphony Orchestra Ltd (‘FSO Ltd’)
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	Signed Declaration of Trust. Monitoring of the activities and accounts of FSO Ltd

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of	Name	Address
adviser

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 charity’s trustees

Signature(s) Full name(s) Richard Stone Position (eg Secretary, Chair, etc)[Treasurer ] Date 29 June 2025 ~~|~~

Fulham Symphony Orchestral Society – Financial Statements Y/E 31 Aug 24

Fulham Symphony Orchestral Society

Registered Charity No. 1094899

Financial Statements for the year ended 31 August 2024

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Fulham Symphony Orchestral Society – Financial Statements Y/E 31 Aug 24

REPORT OF THE TREASURER

The Society had a successful 12 months, with three exciting performances, including works from a wide range of composers. Financially, the Society made a surplus of £1,837 (£203 excluding interest from savings).

Income (excluding interest and ‘Weekend Away’ player contributions) increased by 5% from £22,881 to £24,060. The main increases were from concert takings (+19%). All 3 concerts were performed at Sinfonia Smith Square, with the highest grossing being the March 2024 concert, containing Mussorgsky’s ever-popular Pictures at an Exhibition (£3,651).

Costs (excluding the ‘Weekend Away’ and Orchestra Tax Relief) increased by 6%. The most significant increases were in hall hire (Sinfonia Smith Square) and instrument hire, which both increased by 11%. Rehearsal costs reduced slightly (-4%), as did Box Office commission (-7%), due to a discount following ticket booking issues.

The Society benefits from a contribution to costs that its trading subsidiary, Fulham Symphony Orchestra Limited (FSO Ltd), is able to make through claiming Orchestra Tax Relief (OTR) on the costs of producing the main concerts on behalf of the Society. £8,238 was contributed, relating to the three concerts.

Major refurbishment continues at Hammersmith Town Hall and St Johns Smith Square is also expected to be unavailable late in early 2027 due to refurbishment, forcing the Society to explore other and potentially more expensive performing options. High inflation over the last couple of years has seen like for like cost increases across all categories, including guest player fees and venue hire. The Committee continues to monitor costs and is prepared to review member subscription levels and ticket prices, which have been kept low to date in order to share orchestral music with as wide an audience as possible. The financial strength of the Society, in combination with the legacy funds, should enable it to withstand these cost challenges and to make ambitious and exciting plans for the future.

BASIS OF PREPARATION

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- Financlal Ststements YIE 31 Aug 24 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE FULHAM SYMPHONY ORCHESTRALSOCIErY Respective responsibilities of tTUStees and examiner The charity's trustees are responsible forthe preparation of the accounts in accordance with the Charities Act 20111"the ACY'I. The charity's trustees considerthat an audit is not required forthis ye ar 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 Att, to follow the applicable Directions given by the Charity Commission (under section 145(51(b) of the Act), and to state whether particular matters have come to my attention. Basis of independent examinerfs sLitement My examination was carried out in accordance with general Direecions 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 itemsor disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence thatwould be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below. Independent examinerfs ststement 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 wtth the applicable requirements concerning the form and content of accounts set out in the Charities {Account5 and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which 15 not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connettion 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. J.D. Seddon 21 Southmoor Road Oxford OX2 6RF

Fulham Symphony Orchestral Society – Financial Statements Y/E 31 Aug 24

INCOME STATEMENT FOR THE YEAR ENDED 31[st] AUGUST 2024

Designated Funds (£) Restricted Funds (£) Unrestricted Funds (£) - - 9,115 - - 11,665 - - 942 - - - - - 2,338 490 1,144 - - - - - - - - - 6,229	2023/24 Total (£) 9,115 11,665 942 - 2,338 1,634 - - 6,229	DF (£) RF (£) UF (£) - - 7,632 - - 11,823 - - 790 - - - - - 2,636 425 992 - - - - - - - - - 7,495	2022/23 Total (£) 7,632 11,823 790 - 2,636 1,417 - - 7,495
490 1,144 30,289	31,923	425 992 30,376	31,793
- - 1,467 - - 589 - - 5,715 - - 9,324 - - 2,195 - - 1,249 - - 1,965 - - 592 - - 2,998 - - 5,398 - - - - - 607 - - 6,225 - - (8,238)	1,467 589 5,715 9,324 2,195 1,249 1,965 592 2,998 5,398 - 607 6,225 (8,238)	- - 1,573 - - 971 - - 5,540 - - 8,388 - - 1,974 - - 1,140 - - 1,972 - - 366 - - 3,129 - - 4,869 - - - - - 228 - - -8,471 - - (7,924)	1,573 971 5,540 8,388 1,974 1,140 1,972 366 3,129 4,869 - 228 8,471 (7,924)
- - 30,086	30,086	- - 30,697	30,697

490 1,144 203	1,837	425 992 (321)	1,096

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Fulham Symphony Orchestral Society – Financial Statements Y/E 31 Aug 24

ASSETS AND LIABILITIES AS AT 31[st] AUGUST 2024

Designated Funds (£) Restricted Funds (£) Unrestricted Funds (£) 9,029 21,069 17,099 22,500 52,500 5 240 2,338 10,258	31 Aug 2024 47,197 75,000 5 240 2,338 - 10,258 see below	Designated Funds (£) Restricted Funds (£) Unrestricted Funds (£) 31,039 72,425 17,217 150 1,117 2,054 9,481	31 Aug 2023 120,681 150 1,117 2,054 - 9,481 see below
31,529 73,569 29,940 - - 194	135,038 194	31,039 72,425 30,359 - - 476	133,483 476
- - 194	194	- - 476	476
31,529 73,569 29,746	134,844	31,039 72,425 29,543	133,007

1 Member subscriptions owed for 2023/24 and paid by December 2024.

2 Gift Aid is claimed from HMRC for the whole accounting year in arrears. This means that, at the end of each accounting year, Gift Aid is receivable on eligible subs and donations paid during the period (less an allowance for benefits gained by Members from tuition). At 31 Aug 2024, £2,338 of Gift Aid was receivable. This amount was claimed and received in Jan 2025.

3 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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