REGISTERED COMPANY NUMBER: 05325475 (England and Wales) REGISTERED CHARITY NUMBER: 1108066
Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 April 2023
for
Southern Sinfonia
Cooper Associates Accountants Ltd 40 St James Buildings St James Street Taunton Somerset TA1 1JR
Southern Sinfonia
Contents of the Financial Statements for the Year Ended 30 April 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 12 |
| Detailed Statement of Financial Activities | 13 |
Southern Sinfonia
Report of the Trustees for the Year Ended 30 April 2023
Introduction
Trustees Annual Report
Southern Sinfonia’s Trustees Board has continued to strengthen the Charity’s financial status and governance systems during the year 2022 to ‘23, ensuring a strong basis for the continued success of the Orchestra and an attractive offer for our professional freelance musicians. Their ongoing dedication to Southern Sinfonia is greatly valued and appreciated. We hold four to five Board meetings yearly to review all aspects of the Charity with interim planning meetings as necessary.
Our aim for the coming year is to increase the number of public events in which we take part.
OBJECTIVES AND ACTIVITIES
Southern Sinfonia's objectives remain the same as in previous reports and are to promote, advance, develop and maintain public education in, and appreciation of, the art and science of music in all its aspects by presentation of public concerts, collaboration with other arts bodies and musical societies and through education projects.
ACHIEVEMENT AND PERFORMANCE
Artistic Director's Report
This year has been a recovery period after the many challenges of the Covid 19 Pandemic. We are emerging with a renewed sense of optimism as many of our partners have also been returning to their musical activities and we have been able to work with them.
Highlights have been a number of performances for local care homes in the Taunton area – a much needed tonic for the residents whose lives were so severely impacted by the pandemic. We have performed in concerts with some of our regular Southwest based choral society partners and engaged in education work when possible. We have also released a further CD recording – this time Matthew Coleridge’s Requiem with Convivium Records. The project has proved very successful for the orchestra, with the CD being chosen as ‘album of the week’ on Classic FM.
We are developing our current residency in Taunton, based at Queens College and will continue to expand our activities on all fronts. Southern Sinfonia remains committed to the future of classical music for entertainment And education in all its forms and for all ages and we maintain our ambition to widen our geographical reach. We plan to offer performances further into the South-West region as well as continuing our work in central south and south-east England.
FINANCIAL REVIEW
Financial position
The charity generated a surplus in this year of £2,911 compared with £5,796 in the previous year. It received donations of £530 compared with £2,465 in the previous year. The trustees are satisfied with the position given the external financial pressures at the present time.
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Southern Sinfonia
Report of the Trustees for the Year Ended 30 April 2023
FINANCIAL REVIEW
Reserves policy
Ideally Southern Sinfonia would wish to hold a reserve to help fund the organisation's development and to reduce the impact of any concerts generating less booking income than estimated. In practice, like many organisations operating in the Arts in the current difficult funding climate, the principal challenge is to obtain sufficient income from a range of sources to cover costs of activities, and this has resulted in a dearth of funding that could be set aside as a reserve. Moreover, if a major donor were to materialise, the use of any donation would need to pay attention to the benefactor's preferences and priorities. Nevertheless, the intention is to build up the organisation's business and reputation so that such donations become more likely, including, if possible, the creation of an endowment which would act as a reserve.
Going concern
After making appropriate enquiries, the trustees have reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
FUTURE PLANS
The coming year will be used to develop our networks and publicity and plan for performances up to three years in advance. The emphasis will be on consolidating healthy finances and delivering community and education activity and larger public performances whenever possible in line with our statement of intent .
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Charity constitution
The company commenced activities on 1st May 2006, on which date the assets and liabilities of the former charity Southern Sinfonia (registered charity number 1002443) were transferred into the incorporated charity The company is registered as a charitable company limited by guarantee - charity registration number 1108066.
The principal objective of the charitable company is the promotion of classical music through education and orchestral performance.
Recruitment and appointment of new trustees
The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Memorandum and Articles of Association.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05325475 (England and Wales)
Registered Charity number
1108066
Page 2
Southern Sinfonia
Report of the Trustees for the Year Ended 30 April 2023
Registered office Ripland House West Hatch Taunton TA3 5RN
Trustees
S J Chalk Musician E O Jenkins Director Of Music Lady Norrington Mrs J O'Donnell Consultant (resigned 6 August 2022) Mrs S Read Speech And Language Consultant D V Russell(resigned 30 April 2023)
Independent Examiner
Cooper Associates Accountants Ltd 40 St James Buildings St James Street Taunton Somerset TA1 1JR
Approved by order of the board of trustees on 25 January 2024 and signed on its behalf by:
................................................................. Mrs S Read - Trustee
Page 3
Independent Examiner's Report to the Trustees of Southern Sinfonia
Independent examiner's report to the trustees of Southern Sinfonia ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (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 2006 Act').
Having satisfied myself that the accounts 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 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 statement
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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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 accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Kevin Parsons FCCA Cooper Associates Accountants Ltd 40 St James Buildings St James Street Taunton Somerset TA1 1JR
Date: 25 January 2024
Page 4
Southern Sinfonia
Statement of Financial Activities for the Year Ended 30 April 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 530 Charitable activities Charitable activities 27,986 Total 28,516 EXPENDITURE ON Charitable activities Charitable activities 25,605 NET INCOME 2,911 RECONCILIATION OF FUNDS Total funds brought forward 10,742 TOTAL FUNDS CARRIED FORWARD 13,653 |
2022 Total funds £ 2,465 19,015 21,480 15,684 5,796 4,946 10,742 |
|---|---|
The notes form part of these financial statements
Page 5
Southern Sinfonia
Balance Sheet 30 April 2023
| 2023 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 17,614 CREDITORS Amounts falling due within one year 5 (3,961) NET CURRENT ASSETS 13,653 TOTAL ASSETS LESS CURRENT LIABILITIES 13,653 NET ASSETS 13,653 FUNDS 6 Unrestricted funds 13,653 TOTAL FUNDS 13,653 |
2022 Total funds £ 13,828 (3,086) 10,742 10,742 10,742 10,742 10,742 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.
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The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of 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 statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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Balance Sheet - continued 30 April 2023
Southern Sinfonia
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. S Read - Trustee
The notes form part of these financial statements
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Southern Sinfonia
Notes to the Financial Statements for the Year Ended 30 April 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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Southern Sinfonia
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2023 nor for the year ended 30 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2023 nor for the year ended 30 April 2022.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 2,465 |
| Charitable activities | |
| Charitable activities | 19,015 |
| Total | 21,480 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable activities | 15,684 |
| NET INCOME | 5,796 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 4,946 |
| TOTAL FUNDS CARRIED | |
| FORWARD | 10,742 |
continued...
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Southern Sinfonia
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
| 4. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Computer | ||||
| equipment | ||||
| £ | ||||
| COST | ||||
| At 1 May 2022 and 30 April 2023 | 2,439 | |||
| DEPRECIATION | ||||
| At 1 May 2022 and 30 April 2023 | 2,439 | |||
| NET BOOK VALUE | ||||
| At 30 April 2023 | - | |||
| At 30 April 2022 | - | |||
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Other creditors | 3,961 | 3,086 | ||
| 6. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.5.22 | in funds | 30.4.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 10,742 | 2,911 | 13,653 | |
| TOTAL FUNDS | 10,742 | 2,911 | 13,653 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| TOTAL FUNDS | 28,516 | 25,605 | 2,911 |
continued...
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Southern Sinfonia
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
6. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.5.21 | in funds | 30.4.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 4,946 | 5,796 | 10,742 | |
| TOTAL FUNDS | 4,946 | 5,796 | 10,742 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 21,480 | (15,684) | 5,796 | |
| TOTAL FUNDS | 21,480 | (15,684) | 5,796 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement At 1.5.21 in funds £ £ Unrestricted funds General fund 4,946 8,707 TOTAL FUNDS 4,946 8,707 |
At 30.4.23 £ 13,653 |
|---|---|
| 13,653 |
continued...
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Southern Sinfonia
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
6. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | Movement | |
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 49,996 | (41,289) | 8,707 | |
| TOTAL FUNDS | 49,996 | (41,289) | 8,707 |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2023.
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