CITY OF4 CAMBRtDGL SYM.PTrIONY ORC14E5"fRA riNANCIAL STATEqMEN'I'S fOR THE YI-,AR ENDED 31 ST AUGU8T 2024 CONTENTS AND CIIARITY INFORMA'I'ION CONF£,NTS: Trustees Report Independent Lxaminers Report Stalemeiit of Financial Activities Balance She¢l Notes I'o the Financial Statements TRUSTEL7S., David Bartlelt (Chair) John Pctter Alexander Rcid S'heila Jlimscl)a l)aul 14ammL)nd CFIAEUI'Y ori",ICES.. 62 Fligh Street Bouni Cainbridge CB23 2TR CI4ARI'I'Y REC'JlS"fiMTION NUMBLIll'. 1096457 INDEPENDENT EXANttNE'R.. W Shipley fccA for <uid on behalf or, PreDtis & Co l.LP Chartercd AGcountanls & IndLpLndent r.xaminers 115c Millon Iload Cambridg C4 Ixr 13ANI(FIS.' CAI" Baiik Ltd 25 Kings Ilall Avcnve Kings Flall Wcsl Malling Kciit Ml.-.19 4JQ I'he Cambridge Building Society 51 Ncwmarket Iload Cainbridg"e CB5 8FF
ci'ry or CAMBRII)(iE SYMPHONY OIICIIESTRA ,INANCIAL S'IATEMLIN'I'S FOlI'fIip YEAR fNDED 31 SI AUGUSI. 2024 'riiusTELS RBPORT rhe 'I'rustees present th¢ll' tmnual roport and fillrial 5tateinentb of the charily for thc year ended 3 1st August 2024. Th¢ financial 8tateineiits Iiave boen pi'¢Pdred in accordallcc widi thc accounling policies set out in note I to the accounts and comply with the Lharitvs cOtitL711011, the ch}ltIeS Act 2011 aiid AcGouiiling &iid Rcporting by by Charitics: Stht¢in¢nl of R¢LuiDmcndcd Practibe applicablc to cbarities prcpaTing tlieir (tccounts in accordanco itl accordance wilh the Finallcidl Reporting Slitndard applicabl¢ in tlic UK and R¢publiL oflrcland (fRS 102) second editTon (cffective 1st January 2019). %TRIJCTIJRE AND Govf:RANCF. AND MANCJr,Mc,bri- or TI.IE CI.IARI'rY 'I'he Lharity is constitutcd by a constilulion daled 3rd fi ebruary 2003 and is regi5lered with the ChilY Commission No.. 1096457. TTUStees arL' Usildlly elected at the A(iM altlioiigh may be appoii)tod at othei. tllncs as rcqiiiied. 'fhe Tiust¢¢s manage the day to clay responsibilities of charily, 1'rusiees also ineLt to rnake policy dccisions dnd Slipcrvise the developinenl ofthe charity, 'rhe I'rLlStecs endeavour to maintaiii their kllowledg'e of chariiy regul<tliollS by i-eadillg Jnaterial &5 It becorncs available. In the event of the appoinlment of new truste¢s, suitable steps are talcen to ensLire th<it they (Ire awarc of their obligations. 'fhcy 'C given a 'welcomc puclc ofdocumentatioii aiid giiidaiice document's, and are inlonnally llL¢ntO,d by the more cxpcriLnccd Tiustecs until familiar wilh tlieir roles (iiid responsibililies. OBJLC'I'IVES AND ACI'IVII'ILS The charity was set up for the advajcemLt of mUSiCdl educati()n promolion of public appreciat'ion and study o'l music, 'for exuinpIe by aiiy of the following in¢ans: By holding conceris and lectures about mu,qic to wliich the publiG sh¢ill be admitted whelher on payincnt or olhcnvisc. 13y providing opport'unities for t'he practiLe of music by mteui. pl£1yei's of sts'llig instnimcnts. By is,¥uiiig publicatioiis ¢ondu¢tiv¢ I"0 thv ddvanceLnenl of musical cduc¢lLiun. By undertaking and executing Y Charitable Tiust established or constituted wholly foi. promoting the dppr¢ciation, study ui. practlCL of musiv. I"he Ch'itY has also been set lip to promolc tlic art and scieiicc Dfmusic by assisting. young inusicians, being persons o'Fmoderate or limited means, in such a way as to enable them to becojne self-supportitig. The'frustees have refeLTed to the guidance coiitained in th¢ Lharity Commission geiicral guidai)cc on public bon¢fit and colllinue to do so when revicwiiig our fulurc objectives. Acillf.VEMF.NTS Atw PEIIFORMANCF. During thc fin[claI period 1st Septejnber 2023 - 31 st August 2024, the Charily oper£ited an cllliic tew 01-chesti'a Iitiving the saine n¢iin¢. "rhe orcheslra is tlie inain Ineaiis used by diL chdrily to deliver on it's objcctives, During tliis period s¢ven public conccirtE were org1( nised iii. whicli th¢ orch¢slr¢l pLrfonned in Wcsl Road Conccri l-Tall Cambridge (one of which IL shorter afteilloon event tailored to a f'dmily dudicnce), logether wilh 36 rel)carsals. (;L'SO bad over 60 subs-payillg membei's, ficlded on-stage oi-chestrd.4 of up io 90 plciyers, and liad tlie serviLes of a pi-<>fcssional Inusical directoib dnd <i professional le(ider. Inforinalion ab<)ui C.CS()'S EtctLVlties was madc pul)liL on tlio illtcnjct at WWW cc50-online.oi uk aiid throiigli otli¢r SOLi<LI incdiiL chdflliLIs, IL nd publicity around tho city Ltunbi'idge. Early carcer soloists wcre cngagcd for four of ihe six eveiiing concerts. I,'INANCIAL IiE4VIEW For the year ended 3 1st Augiist 2024, a surplus of£4,836 arose (2023- £10,592) Total income reeeivablc fi'om all sources was £39,73 9 (2a23.' £48,154). Ticlcet sales contributed to £27,229 of tlie income (2023.. £34,075). City OrcnbrIdg¢ Syiiipliony Orcbestra's tol&l annu&l cxpLnditure was £34,903 (2023.. £3 7,562). 780/0 re11( tes du'cctly to the production company fees, the reinaining 22 % of expenditure covered costs associciled wilh unrestricted cosls and alld governallce.
CITY QF LAMLIRIDG>. SYMPFKONY OIICL.IPSI'RA PAGI? 2 FINANCIAL SI'A'L'EMENTS FOR'I'HL? YEAR L¥NDL7D 3 Is'r .AUfjUSI' 2024 I'iItJS'l'F.ES IUIPORT .,,. .,JCON'I'INUED RLISEHVES At 3 1st August 2024 the G'h'11Y hold tho following r¢¥ei'v¢8: Unrestrlotod r¢s¢i'voS: Il¢ytrictcd i"eserves', £49,07S £500 Unr¢striGt¢d reser¥ps ftr¢ not dcsignatod for a 3pccific putpo8¢, Tho lTrust¢os havo sot a policy mointuiiiin8 a minimiim loyel of unr¢$lrithd roserv¢2 of£30,000, IIISIC ASSCSSMENT The Trusto¢s hovo consider¢d tho inaior risks ¢¢d by the oharity and rovlow risl<s Ye8ularlyJ makkng Aui"o 3y¥t¢ms are in pla0¢ to mitigato th¢5¢. KEY MANAGEMENT AND PlsRSQNNEL REMUNERATIQN The charlty cunsldors the Bowd of Tru8log1 to b¢ its kay maM8¢ingnt. 81'AI'hMPNT OF TRUSTEES, IICSPONSI131LII'IES IaW applic4blo to Gho.rltios In Englaiid ond Wales requir0& tlie Trusteos to ,paig thG flnan¥tal st&toinents foi. each finan¢ial yaar whlch gAv¢ a truo and fair view of the incoming re$ourc08 appliaatlon$ of the r¢gouroo8 oftho Cl)arity durin8 tho yoAr of its St4t¢ of %iffaii% at the end of the yoor, In prop4¥ing fin1&[ atateinents giving a ti'ue and fair view, the I'rustQ¢8 8liould follow bo&L PlWti¢o aiid In preparln8 tlie financial statements th2 Truslor are requir¢d to: (i) (li) S¢l¢ot suitablo accounLing poliLy aad then apply thom romsi&tei)11.y. Obs£*rv¢ th¢ methods and prliioiplgs uf th¢ chari.llos SOKP. Mako Judgements and ¢Mllmat¢s thal Aro reasonably prudeiit, State whethei. applicable accounting standardg an.d st4tem¢nts of r¢¢ommondod prdctico hsAve bo¢n YollowG(I, $ubjoot to any departures disclosed aiid explainEd Lhg fin4nci#l Btatgmellts, l4'¢parc tho fu]anoial stat¢menls on a golng The¢Tn ba$is unless it 13 inappropiiato to prosum¢ Ilie ¢b4rily wlll ¢ontinu¢ In op¢ration, (iv) (v) I'ho Ti'usto¢s arg rospon$ible for ke¢piiig aooountlng ILLQI'd8 whioli disoloso With reAsoiiahl¢ 8rcuro¢y the rin£wcii¥l po51tion of the clwity and whiGh on4ble thein io iscortalii il)¢ t]Iioncial poslLlon of th¢ oh8rlly ir onablo tkjgni to 8ll8uro that tjie fmonolol 9tatomeiitg aoillply wilh Ihe Charit1¢8 Aot 2Ql I, thfj CliaL'ity (Ar¢oiLnlo and Reports) Rpgulqllong ond th¢ pr4)vlJion8 of the Qonsritution, They aro also r£spon8lble for saf0%u.d18 Ilio assets of the chaiity aiid hencg foi. laliing I'oasonable stops for Iho proy¢nllon aiid d¢l¢¢tion offraud 411d othor iu¢gularltles, APPROVAL, Thls Iwport WAS approv¢d by tho Truskes orA and sigiicd oll thelr b¢half, PAUL HAhfjMONJ), Ttws'rEL
CITY OF CAMBRIDGE SYMPIIONY ORCFIESTIIA PAGE 3 FINANCIAL STATEMEN rs foR"fHE YLAEi ENDED 3 Is'r AUGUS1" 2024 INDEPENDENT fxAhllNEJI'S RLP()IIT T() TIIE TRUSTLLS or ci'ry ()r CAMBRIDGLI %YMPIIONY ORCFIESI"RA I report on the financidl statelnents of City of Cambridge Symphony Orchestra for the yeai. ellded 3 1st Aiigust 2024 which Lire set out on pages 4 to 8. RE8PONSIBILLTIE%' AND BASI.s or REP()IIT As Charity Truslecs of th¢ ¢h&Tity you aro responsible for the prep¢wation. of the accounts in ¢lCCOTdance with th¢ requireinents of the Chttrities Act 2011 ('the ALI?. I report in respect of iny ex&mination of the charity's accounts carried out. undttr s.145 of the 201 l Act Lind in caLTying out my ex¢uninalion I have followed all applicable directions given by the chltY comlS810n linder s.145(5)(b) of the2011 Act. INDEPENDENT LIXATvtlNIR'8 SI'A fEMENI' I have completed my examinalion. I confiim that no ivatcrial malteys have come to my attenLion in conneLlion with thc exaininatioii giving me cause to bGlieve tlial in aiiy matorial respoLt: accounting records wcre not kept in respect of Ilie cliarity as required by seclion 13 0 of ihe Act,. or the account's do not a¢cord with tliose records. oi. Ihe accounts do E]Ot cornply wilh tlic applicable requireincnls conceiiiitLg ihe foi-m and conlont of accounts s¢t out in the Charili¢s (Accounts and Reports) Ilegiilations 2008 other than any requiremttnt Ih&t Ihe accounts givc a truL and fair vicw which is not a m(IttLr considercd pait of an iiidepenLlent examilldlioll. I l)av¢ no Concerns and bave come across iio nidtlers in LOLinection witli tlits Qxdinination I'o which all'ention should be dr(Iwn in this report in Drder to enable a proper uiidcrst(Indiiig' of thL (ILcouiI(s to bc rL&chcd. IAN W SHIPI.EY FCCA I,'OR AND ON B T..:I-IAJ,r or.. PIiLN'I IS, & CO I.LI) CI IAlI'fEIII=,D AC(:aiJN'I'AN'rs & INDI-PENDENT EXAMINfR,8 115c Milton Ro<ld Cajnbridge CB4 IXV.
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CIIY OI" CAM13RID(ili SYMPHONY QRCIIES"I'LIA FINANCIAL STA1'£MEN'I°S TIOR 1'14E Y13AR F,NDLID 3 1ST AUCIUST 2024 BALANCE SFIEET Asat 31 St August 2024 A$at 316t August 2023 ote5 rixiD Assf.TS 'I'an%ibl$ ass¢ts 2,437 2,437 CURREVf ASSETS Dobtois,. amoullls fallittg du¢ wiLhln olio y¢. Cash In banlc and in I1]d TOTAL CUKRF.NT AS$E'rs 39,QQ 36,551 75,551 39,00 12,Q41 71,041 LIAF3ILIIIES ¢ditOrS. amounts falling due within oli¢ ye, 28,413 28,739 N¢t C,iirrent A$t5 TOTAL NET ASSETS 47,138 49,575 42,302 Tl.IIi fuNDS 01-, -fllF. SOCIE'rY R08tri¢tsd iiicuille fuiids Ullr¢stl'i¢fy4 incoine funds 1'01'AL FUNDS 500 49,075 49,575 500 44,239 'Cho fintm¢ial st&teirAeUts wt>Ye appivEd by tli¢ 'A'rsLO$ on nd signed on thoir behalf, .PAUL IIAMMOND TRUSTL7E Th¢ notos on pagos 6 to 8 foi-m pait ot th¢-se flnAI.i¢lal Jllltemoiil's..
CII'Y ori CAh(BRIDGE SYMPHONY ()RCHES'I'RA PACyf, 6 FINANCIAL s'fA TEMENTS FOR I"FIE YEAR FNDID 31 SI, AUCYUSI" 2024 NOTE, s "ro "rFE I;INANCIAL STATLM]=,WtS ACCOUNTING POLICIES (a) TJASIS OF PIIE4PARAIION ()F I-,INANCIAL s fATfMLN r% The financi&l statemcnts Ii<ive been prepared in a¢¢ordan¢e with Accounting and RepoTllng by Charities: Statemcnl o'f Kocommended Practice applicable lo charities preparing iheir accounts iii accordanic willi ie fi jiiancial Roporting sland-d applicdble in the UK and Rcpublic ol Ir¢land (I,-RS' I02) second cdilion (effective 1st J(tnuai'y 2019) - (Charit1¢5 SORP (fRS 102)) and the firLancial RLporling Slandard )plicable in the UIC ]d Republic of Ircland (fRS 102) and the Clwilies Act 2011. The charity h¢lS also taken advantsge ofexeinpiiolls available for smaller ciitities Ulld¢i Section IA O'F rRS 102 and the ChaTities SORP (FRS 102) updal¢d Bull¢tin 12nd fiebru£Wy 2016. In particuliir have talcen advanlage of the exeinption lo preparc & Slatemeiit ofcash Flows. The Financial ,Itatemeiils have bceii preparLd under ihe Iiistoi'ical cost. convention witli ilen]S Tc¢ogi)i8ed at cost or trsaCtIon vajue w]less otherwise statcd in the i-elevant notLs to these fiiianci<tl slalcmcnts. The c]wity's fancIaL statements are prep.ed Ullder the going conccrji basis. "I'his is &ppropi'iate and the trustees are of the view that Ihei'e (ire no l(Iclors that affeGt going ¢on¢ern in t]ie following 12 inontl)s. (b) fuND ACCOUNI'INCJ "I"he charity inallltS d geiieral uiiresl'ricl'cd .Fund which is expenddble at ihe discrel'ion ofthL 'I'rustees in fiheranee of Ihe objects of ihc cliarily. lestricted fullds are fLLnds which are to be used in accordanLL Witli spccific relsrictions imposod by donors wliicli have bccn r¢iised by the charity 'for particular purpos¥s. Tli¢ ¢osl' ofjraising alld adtninistering such funds are c]wged against tbo qpccfiL fund. 'I'hc aiin dLid use of eucli rcstrictcd fund 15 set out iii tlic nol¢,%' to the ful(¢11 stdl¥monts. (c) INCOMr, All inco]ne IS Tecogllised in the Slalemellt of14'inaLICl£il ActLVltitts wliLn Ihc conditions fur receipt have beer] met and there 18 reasonJblo aSsWL¢ of receipt, Where a claini for i'CPdyrnLnt ol income tax h£1S or will bc made such irlcome is glossed lip for tlje tax t'ccoverdbl¢. TIIL following policies circ applied to incoinc. - DONATIONS Inwiiic is accounted for whell receivablL'. Any lax re¢ovei'able relalinu to the donations is a¢counl'od for wheii r¢¢civLd. - 8IJBCRIPI'ION tNCOMI-, Subscription incoine is accounted for lid covei'% the period of subscription comiii¢nciiig thcrcfTQm. (d) CIMRII'ABLI=, 4XPLNDI'IURLI Direct CliLtable oxponditurc includcs all expeiiditUTe diiectly rel<lted to tLi¢ objects of the chai'ily Ic nd i.s accounted foi. wben the Trustetts hdvc a¢oopted a legal or moral obligatioll to meet thc Lxpendilure. Suppoit and governance cosls are included within cliaTiLJlilc cxpenditure. (e) FJXED A8%'bTS ¢ixed asset arc stat¢d at cost less accuinulated depreciation. 'fhe Losts of minor addilion,q i.e, tho.ie costingy less than £1,000 ai'c iiot capitalised. Depi'cciation is provided ut rates c&lculutLd to writc of£ th cost of each asset over its expected usi'ful li'f¢. Music is depr¢Giated at O % diie to tlie nature of tlie asset.
CITY OF CAMBRTDGE SYMPFIONY ORCFIESTRA PACJB 7 FINANCIAI. STATEMENTS FOR ITIE YEAR ENDED 31 ST AUCJUST 2024 NOTE, S I'O T14E FINANCIAL s'fA TEMLNI'.8 CHARII"ABLE ACTIVII"IES DIRF.CT COSTS Box Office cliargcs Charity donalions Cost of progr¢unmLs Insurance IT softvai'e Miscellalleous expenses Music storage Production coinpany fees Advertisiiig SubscTlPtions Bank charges 2024 2023 1,743 1,145 1,230 151 144 362 464 27,242 994 392 196 2,445 L,645 924 143 302 1,245 569 28,584 1,172 385 148 34,063 37,562 GovfRNANCE COSTS Independent Examinei's Fce 'I'OI'AL CI4AIIITABLL LO.81'S' 840 34,903 37,562 rRUSTEE TIiANSAC'I'IONS The following. paymeiits were made I'o the Trugtees for thL reimburscillent of eKpens¢s paid on bLhdlf ufthc charity, or for servicos provided but not related to the offi¢¢ or WOTIC done in the Tole of I"rustee.' 2024 2023 J) J3artlett J l)etter l) Ilatmnond S Ilimscha £1,486 - cost olpi'ognmme5 £ldvertiSiLig' £0 niisLclldiieous expenses £65 iniSGellaneoiis expenscs £75 miscellancous ttxpeiisL8 £0 £0 Any services the trustee5 (d related Pdrties receive fi'ojn the chtLrity ¢ire on thc s2trnc basis ( otlier members of the oharily and membcr8 of tlie public, During the year t]Ib Gh<WAty made a loan to a production company CCSO I)roductions Ltd whicli is jointly owiied by two trustees, P l-lammond and A Reid for tl)c solc pui'pose OL. obtaiiiing Oi'chL8tril lax credit i'elicf on produclions. The tax Gr¢dit obldinod and loaiis pussed back to the charity, The n¢l outEtanding sutn at 3 R st August 2024 was £1 1,758 whitih was rcpaid on 8th November 2024. TANGIBLE FIXF,D ASSET8 - CURREN'I, YbAR cos'i, At 15l Septejnber 2023 and 31st August 2024 DEPIiECIAI'ION At I st S'eptcinbei. 2023 aiid 31 yl August 2024 NET BOOK VALUL AI. 3 1ST AIJGUS'I, 2024 Music 2,437 2,437 TANGIBLL FIXE,D AssfTS - PIUOR YfAR cosi, At 1st Seplernba- 2022 and 31 st August 2023 DEPRECIATON At 1st Scpiember 2022 and 31 si Augiist 2023 NEI. 1300K VALUE AT 3 Ls'f AlJ(ilJST 2023 Miisic 2,437 2,437
ci'ry OF CAMBRIDGE SYMPFIONY OIICHESI'IIA PACJE 8 FINANLJAL STATLMLqN rs i-, OR I'14Li YFAR 318'r AIJGUS'f 2024 NOI'ES TO I'I.[E4 l-, INANCIAL SI'ATEMFNT DEB TOIIS - DIJE WI'I'HIN ONL YLIAR 2024 2023 Loan to CCSO Productions I.td 39.000 39,000 CRLDIT()II8 - DUL WII'FIIN ONE, YFAR 2024 2023 Accruals ]d de1¢ed income Du¢ lo CCSO Productions Ltd 1,171 27,242 28,413 28,739 28,739 STATEMLNf OF fuNDS - 2024 bllwd 1.8l 8cptsmber 2023 cllwd 3 Ist August 2024 Income ]xp(Thd]tLlre lJnrcstictLd funds Rests'iclcd fulld5 44,239 500 39,739 (34,903) 49,075 500 Total fiLn(ts 44,739 39,739 (34,903) 49,575 STATEMENT Of I,"IJNDS - 2023 cifwd 31 st August 2023 1st Scptembei. 2022 Tncoine Expcnditure Unresti'icl'ed funds RestiiLtcd funds 33,647 500 48,154 (37,562) 44,239 500 'I'oLol funds 34,147 48,154 {37,562) 44,739 Restricted fund - You1 Lornposers project. 'fhc pui'p05e of tlic fund is to enable the orcheltrd lo provide opportunities foi. yout)g coinposers lo develop their ski Ils t11rou h¢iving ih¢ir coinpositions workshopped, rcliearsed oi- publicly performed. S'I'ATrF COSTS None of the trugtees reccived romuncration or (illy other benLfiL% frojn dio charity during 2024 or 2023.