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|||||Page|
|---|---|---|---|---|
|Report of|the Trustees||||
|Report of|the Independent||Auditors|27|
|Statement|of Financial|Activities||30|
|Balance Sheet||||31|
|Statement|ofCash Flows|||32|
|Notes to the Financial||Statements||33|
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|Focus area|Key performance
indicator|||
|---|---|---|---|
||Partners
report positive impact on practice relating to:|||
||1.
Engaging
with new segments
oftheir community|||
||2.
Engaging
with their community
in new ways|||
||Projects deliver orchestral
experiences
that connect participants,|||
||audiences
and performers
in shared experiences.|||
|Programme||||
||Orchestras
report positive impact on practice
in developing||inclusivity|
||and relevance|||
||Increase the average percentage
of projects featuring|diverse||
||creative practitioners
including:
Commissions
of new work||(including|
||collaborative
compositions)
from diverse artists.|||
|Communications|Online engagement
increases against 2020/21 baseline|||
##
|Impact and Insight'„:|Impact and reporting
systems are updated
meaningful
analysis for the Board.|and|refined|refined|to provide|
|---|---|---|---|---|---|
||Board set target and action plan for Orchestras||Live|governance,||
|Resour'ces:, Govemanc'e|internal systems
and processes to cement|an|inclusive||approach|
|:and Expertise '.||||||
||ACE approval
of2022/23 business
plan|||||
||Reported
progress towards
achieving
Core funding|||target for||
||2021/22 in terms of:|||||
||1.
Funds raised towards core costs|||||
||2.
Engagement
with strategic funders|||||
|'Resource's: Income '".||||||
||Budget spent on programme
of activity coming||from|external sources||
||Income coming from new sources, setting|growth targets for future||||
||years|||||
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|||||2022|2022|2022|2021|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||Notes|||||
|INCOME FROM:||||||||
|Grants, donations
and legacies||||562,950|99,027|661,977|776,577|
|Charitable
activities||||168,224||168,224|152,114|
|Investments||||2,558||2,558|3,345|
|Total income||||733,732|99,027|832,759|932,036|
|EXPENDITURE ON:||||||||
|Raising funds||||54,917||54,917|45,925|
|Charitable
activities||||815,783|186,921|1,002,704|560,210|
|Total expenditure||||870,700|186,921|1,057,621|606,135|
|NET (EXPENDITURE) / INCOME BEFORE TAX|||8|( 136,968)|( 87,894)|( 224,862)|325,901|
|Corporation
tax credit|||10|16,153||16,153|10,996|
|NET (EXPENDITURE) / INCOME||||( 120,815)|( 87,894)|( 208,709)|336,897|
|Transfers
between
funds|||15|||||
|Net (outgoing)
/ incoming|resources|before||||||
|other recognised
gains and losses||||( 120,815)|( 87,894)|( 208,709)|336,897|
|Other recognised
gains and losses||||||||
|Actuarial
gains
/ (losses) on defined||benefit||||||
|pension schemes||||200,000||200,000|( 80,000)|
|Net movement
in funds||||79,185|( 87,894)|( 8,709)|256,897|
|Total funds brought
forward||||495,225|136,416|631,641|374,744|
|Total funds carried forward|||15|574,410|48,522|622,932|631,641|
##
|||||||2022|2022|2021|2021|
|---|---|---|---|---|---|---|---|---|---|
||||||Notes|||||
|Fixed assets||||||||||
|Tangible assets||||||||||
|Current assets||||||||||
|Debtors: falling due||within one year|||12|46,577||23,360||
|Debtors: falling due||after more than one year|||12|60,000||60,000||
|Cash at bank and|in|hand||||37,778||29,661||
|Cash on deposit||||||686,766||840,950||
|||||||831,121||953,971||
|Liabilities||||||||||
|Creditors: amounts||falling due within oneyear|||13|(142,189)||( 81,689)||
|Net current assets|||||||688,932||872,282|
|Creditors: amounts||falling due after more than||||||||
|one year|||||14||||( 47,641)|
|Net assets excluding|||pension|liability|||688,932||824,641|
|Defined benefit pension|||scheme|liability|20||( 66,000)||( 193,000)|
|Total net assets|||||||622,932||631,641|
|The funds ofthe|charity|||||||||
|Unrestricted
funds|||||||640,410||688,225|
|Pension reserve|||||||( 66,000)||( 193,000)|
|Restricted funds|||||||48,522||136,416|
|Total charity funds|||||||622,932||631,641|
##
||||||||2022|2022|2021|2021|
|---|---|---|---|---|---|---|---|---|---|---|
||||||Notes||||||
|Cash flows from operating|activities:||||||||||
|Net cash (used in) / provided|by operating||||activities|A||( 98,615)||271,543|
|Cash flows from investing|activities:||||||||||
|Interest received|||||||2,548||4,093||
|Net cash provided
by investing
activities||||||||2,548||4,093|
|Cash flows from financing|activities:||||||||||
|Cash inflows from new borrowing|||||||||50,000||
|Repayments
of borrowing|||||||( 50,000)||||
|Net cash (used in) / provided|by financing|||activities||||( 50,000)||50,000|
|Change
in cash and cash|equivalents||in the year|||||( 146,067)||325,636|
|Cash and cash equivalents|at the beginning||||ofthe year|||870,611||544,975|
|Cash and cash equivalents|at the end||ofthe year|||||724,544||870,611|
|Represented
by:|||||||||||
|Cash at bank and
in hand||||||||37,778||29,661|
|Cash on deposit||||||||686,766||840,950|
|||||||||724,544||870,611|
|A. Reconciliation
ofnet expenditure||to||net cash flow||from|operating|activities|||
|Net (expenditure)
/ income for the year||||||||( 208,709)||336,897|
|As per the Statement ofFinancial Activities|||||||||||
|Adjustments
for:|||||||||||
|Interest receivable
Defined benefit pension scheme - finance cost|||||||( 2,558)
3,000||( 3,345)
, "1,000||
|Defined benefit pension scheme -service cost|||||||70,000||23,000'||
|(Increase) / decrease
in debtors|||||||( 23,207)||41,506||
|Increase
/ (decrease)
in creditors|||||||62,859||( 127,515)||
|||||||||110,094||( 65,354)|
|Net cash (used in) / provided|by operating||||activities|||( 98,615)||271,543|
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||||||2022|2021|
|---|---|---|---|---|---|---|
||Arts Council England
National
Portfolio grant||||487,950|487,950|
||Charitable
foundations
and other donations:||||||
||Arts Council Create Space NLP||||38,784||
||Association
ofJewish Refugees||||2,500||
||Chivers Trust||||2,000||
||Culture Recovery Fund|||||92,846|
||Darlington
Borough Council|||||4,214|
||Derbyshire
County Council|||||6,377|
||The D'Oyly Carte Charitable|Trust||||3,000|
||Esmee Fairbairn
Foundation||||55,000|10,000|
||Foyle Foundation||||20,000||
||Ganzoni
Charitable
Trust||||1,000||
||Garfield Weston Foundation|||||25,000|
||The Harold
Hyman Wingate|Foundation||||3,750|
||Mayfield
Valley Arts Trust|||||5,000|
||North Walsham
HAZ Cultural|Consortium|||10,000||
||NYMAZ|||||3,000|
||Peter Sowerby Foundation||||10,875|11,500|
||Radcliffe Trust|||||3,500|
||Selby Town Council||||500|1,000|
||Weston Culture
Fund|||||107,500|
||The Wixamtree
Trust|||||5,000|
||Unrestricted
donations|||||340|
||Project and conference
contributions||in kind||33,368|6,600|
||||||661,977|776,577|
||The comparative
figure includes|restricted||income of2157,441.|||
|3|INCOME FROM CHARITABLE|ACTIVITIES|||||
||||||2022|2021|
||Partnership
investments||||161,839|151,673|
||Promoter and other partner
contributions||||3,039||
||Consultancy
and commission
fees||||3,346|441|
||||||168,224|152,114|
##
|INCOME FROM INV|ESTMENTS|||
|---|---|---|---|
|||2022|2021|
|Essex Pension
Fund|bond interest|10||
|Hodge Bank deposit|interest|1,736|2,051|
|Charity Bank deposit|interest|760|1,244|
|CAF Bank and other|interest|52|50|
|||2,558|3,345|
|EXPENDITURE ON|RAISING FUNDS|||
|||2022|2021f|
|Staff costs||53,513|44,833|
|Other fundraising
costs||1,404|1,092|
|||54,917|45,925|
|EXPENDITURE ON|CHARITABLE ACTIVITIES|||
|||2022|2021|
|Activity costs funded|directly|131,627|31,466|
|Activity costs funded|by grants|294,031|57,312|
|Creative
digital producer costs||15,220||
|Project costs in kind||33,368|6,600|
|Direct costs ofconsultancy
services||695||
|Staff costs||237,411|216,391|
|Allocation of support|costs (note 7)|290,352|248,441|
|||1,002,704|560,210|
|7|SUPPORT COSTS||||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||Staff costs||||217,968|196,245|
||Staff recruitment||||2,150|120|
||Defined benefit pension|finance|cost - see Note 20||3,000|1,000|
||Training
and conferences||||2,234|690|
||Premises costs||||11,517|6,615|
||PR and communications||||4,720|8,226|
||IT and computer costs||||3,450|1,902|
||Printing
and stationery||||10|149|
||Postage and telecommunications||||884|943|
||Travelling
and subsistence||||7,970|( 20)|
||Accountancy fees and|payroll|||26,140|24,933|
||Legal and professional|fees|||3,204|786|
||Bank charges||||94|75|
||Miscellaneous
expenses||||1,768|831|
||Governance
costs:||||||
||Trustees' expenses for attending
meetings||||775|( 139)|
||Trustee board development||||140|650|
||Auditors'
remuneration|for audit services|||3,750|4,200|
||FRS 102report and actuarial||valuation|costs|578|1,235|
||||||290,352|248,441|
|8|NET (EXPENDITURE)|/ INCOME|||2022|2021|
||Net (expenditure)
/ income is stated after|||charging:|||
||Auditors'
remuneration|for audit services|||3,750|4,200|
|9|STAFF COSTS||||2022|2021|
||Gross salaries||||324,347|320,513|
||National
Insurance
contributions||||29,264|29,636|
||Pension
contributions||||83,720|82,750|
||Defined benefit pension|service|cost - see Note 20||70,000|23,000|
||Pension scheme administration||||1,561|1,570|
||||||508,892|457,469|
##
|10|TAXATION||||2022|2021|
|---|---|---|---|---|---|---|
||Orchestra Tax|relief - repayable||credit|16,153|10,996|
|11|TANGIBLE FIXEDASSETS||||||
||||||Fixtures,||
||||||fittings and||
||||||equipment|Total|
||Cost||||||
||Brought forward|at 1 April 2021|||3,421|3,421|
||Carried forward|at 31 March|2022||3,421|3,421|
||Depreciation||||||
||Brought forward|at 1 April 2021|||3,421|3,421|
||Carried forward|at 31 March|2022||3,421|3,421|
||Net book value||||||
||At 31 March 2022||||||
||At 31 March 2021||||||
|12|DEBTORS||||||
||||||2022|2021|
||Amounts
falling|due within one year:|||||
||Trade debtors||||22,303|1,200|
||Tax recoverable||||16,153|10,996|
||Other debtors,|prepayments|and accrued income||8,121|11,164|
||||||46,577|23,360|
||Amounts
falling|due after more than one year:|||||
||Essex Pension|Fund bond|||60,000|60,000|
##
##
|13|CREDITORS: AMOUNTS|CREDITORS: AMOUNTS|FALLING|DUE WITHIN ONE YEAR|DUE WITHIN ONE YEAR|||
|---|---|---|---|---|---|---|---|
|||||||2022f|2021|
||Covid 19bounce|back loan|due within||one year||2,359|
||Trade creditors|||||42,983|8,049|
||Other tax and social security|||||7,964|10,525|
||Accruals|||||67,869|46,497|
||Deferred income|||||23,373|14,259|
|||||||142,189|81,689|
||Deferred income|comprises:||||||
||Income deferred|from the|previous|year||14,259|81,164|
||Released to the|statement|offinancial||activities|( 14,259)|( 81,164)|
||Arising during the|current year:||||||
||Amounts
invoiced
in advance|||||23,373|3,384|
||Grants required|to be spent
in future|||periods||10,875|
|||||||23,373|14,259|
|14|CREDITORS: AMOUNTS||FALLING|DUE AFTER MORE THAN ONE YEAR||||
|||||||2022f|2021f|
||Covid 19bounce|back loan|due after|more than one year|||47,641|
||||||||47,641|
##
|15|MOVEMENT
IN FUNDS - CURRENT YEAR|MOVEMENT
IN FUNDS - CURRENT YEAR||Net|Transfers||
|---|---|---|---|---|---|---|
||||At 1April|movementin|between|At 31|
||||2021|funds|funds|March 2022|
||Unrestricted
funds||||||
||General
Fund||174,721|( 387,463)|436,115|223,373|
||PR &Communications
(designated)||6,079||( 4,574)|1,505|
||Partnership
Fund (designated)||364,272|138,288|( 146,673)|355,887|
||Programme
Fund (designated)||63,280|487,775|( 536,075)|14,980|
||Projects Fund (designated)||79,873|( 289,066)|253,858|44,665|
||Consultancy
8 Commission|(designated)||2,651|( 2,651)||
||||688,225|( 47,815)||640,410|
||Pension reserve||( 193,000)|127,000||( 66,000)|
||||495,225|79,185||574,410|
||Restricted funds||||||
||Partnership
Fund (restricted)||1,239|( 1,239)|||
||Arts Council Create Space NLP|||19,091||19,091|
||Scops Arts Trust||5,000|( 5,000)|||
||Peter Sowerby Foundation||9,125|( 9,125)|||
||Weston Culture
Fund||102,500|( 73,069)||29,431|
||Projects||18,552|( 18,552)|||
||||136,416|( 87,894)||48,522|
||TOTAL FUNDS||631,641|( 8,709)||622,932|
##
|Net movement
in funds,
incl|uded
in the above,|are as follows:||||
|---|---|---|---|---|---|
|||||Other||
|||||recognised
gains I|Movement|
|||Incoming|Resources|losses &|before|
|||resources|expended|tax|transfers|
|Unrestricted
funds||||||
|General
Fund||101,109|( 504,725)|16,153|( 387,463)|
|Pension reserve|||( 73,000)|200,000|127,000|
|Partnership
Fund (designated)||138,288|||138,288|
|Programme
Fund (designated)||487,950|( 175)||487,775|
|Projects Fund (designated)||3,039|( 292,105)||( 289,066)|
|Consultancy
8 Commission|(designated)|3,346|( 695)||2,651|
|||733,732|( 870,700)|216,153|79,185|
|Restricted funds||||||
|Partnership
Fund (restricted)|||( 1,239)||( 1,239)|
|Arts Council Create Space NLP||38,784|( 19,693)||19,091|
|Scops Arts Trust|||( 5,000)||( 5,000)|
|Peter Sowerby Foundation||10,875|( 20,000)||( 9,125)|
|Weston Culture
Fund|||( 73,069)||( 73,069)|
|Projects||49,368|( 67,920)||( 18,552)|
|||99,027|( 186,921)||( 87,894)|
|TOTAL FUNDS||832,759|( 1,057,621)|216,153|( 8,709)|
##
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|16|MOVEMENT
IN FUNDS - PRIOR YEAR|MOVEMENT
IN FUNDS - PRIOR YEAR|MOVEMENT
IN FUNDS - PRIOR YEAR||Net|Transfers||
|---|---|---|---|---|---|---|---|
|||||At 1April|movement in|between|At 31|
|||||2020|funds|funds|March 2021|
||Unrestricted
funds|||||||
||General
Fund|||110,579|( 308,366)|372,508|174,721|
||PR 8 Communications|(designated)||||6,079|6,079|
||Partnership
Fund (designated)|||304,396|129,779|( 69,903)|364,272|
||Programme
Fund (designated)|||8,500|487,950|( 433,170)|63,280|
||Projects Fund (designated)|||5,893|( 50,947)|124,927|79,873|
||Consultancy
8 Commission||(designated)||441|( 441)||
|||||429,368|258,857||688,225|
||Pension reserve|||( 89,000)|( 104,000)||( 193,000)|
|||||340,368|154,857||495,225|
||Restricted funds|||||||
||Partnership
Fund (restricted)|||2,239|( 1,000)||1,239|
||Foyle Foundation|||5,250|( 5,250)|||
||Scops Art Trust|||10,000|( 5,000)||5,000|
||Peter Sowerby Foundation|||625|8,500||9,125|
||Weston Culture
Fund||||102,500||102,500|
||Projects|||16,262|2,290||18,552|
|||||34,376|102,040||136,416|
||TOTAL FUNDS|||374,744|256,897||631,641|
##
##
||||||||Other||
|---|---|---|---|---|---|---|---|---|
||||||Incoming|Resources|recognised
gains I|Movement
before|
|||||resources||expended|losses|transfers|
|Unrestricted
funds|||||||||
|General
Fund|||||156,425|( 475,787)|10,996|( 308,366)|
|Pension reserve||||||( 24,000)|( 80,000)|( 104,000)|
|Partnership
Fund (designated)|||||129,779|||129,779|
|Programme
Fund (designated)|||||487,950|||487,950|
|Projects Fund (designated)||||||( 50,947)||( 50,947)|
|Consultancy
&Commission||(designated)|||441|||441|
|Restricted funds|||||774,595|( 550,734)|( 69,004)|154,857|
|Partnership
Fund (restricted)|||||6,377|( 7,377)||( 1,000)|
|Foyle Foundation||||||( 5,250)||( 5,250)|
|Scops Art Trust
Peter Sowerby Foundation|||||11,500|( 5,000)
( 3,000)||( 5,000)
8,500|
|Weston Culture
Fund|||||107,500|( 5,000)||102,500|
|Projects|||||32,064|( 29,774)||2,290|
||||||157,441|( 55,401)||102,040|
|TOTAL FUNDS|||||932,036|( 606,135)|( 69,004)|256,897|
|Details ofdesignated|and restricted||funds are as shown||in Note 15.||||
|ANALYSIS OF NET|ASSETS BETWEEN FUNDS - CURRENT YEAR||||||||
|||||||Unrestricted|Restncted|Total|
|||||||funds|funds|fundsf|
|Fund balances at 31|March|2022 are represented||by:|||||
|Tangible fixed assets|||||||||
|Net current assets||||||640,410|48,522|688,932|
|Defined benefit pension scheme|||provision|||( 66,000)||( 66,000)|
|||||||574,410|48,522|622,932|
##
##
##
##
|ANALYSIS OF NET|ASSETS BETWEEN FUND|S -PRIOR YE|AR|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
|Fund balances at 31|March 2021 are represented|by:||||
|Tangible fixed assets||||||
|Net current assets|||735,866|136,416|872,282|
|Creditors: amounts|falling due after more than|one year|( 47,641)||( 47,641)|
|Defined benefit pension scheme provision|||( 193,000)||( 193,000)|
||||495,225|136,416|631,641|
##
##
||At 31|At 31|
|---|---|---|
||March|March|
|Principal actuarial assumptions:|2022|2021|
|Salary increases|3.15'/o|2 75o/o|
|Pension increases (CPI)|3.15'/o|2 75o/o|
|Discount rate|2 60o/|2 00o/o|
|assumed|
life expectations
on retirement
at age 65are:|||
|---|---|---|---|
|||At 31|Af31|
|||March|March|
|||2022|2021|
|||Years|Years|
|Refiring|today|||
|Males||21.60|21.60|
|Females||23.70|23.60|
|Retiring|in 20years|||
|Males||23.00|22.90|
|Females||25.10|25.10|
##
|||||Fair value|Fair value|
|---|---|---|---|---|---|
|||||at31March|at31March|
|||||2022|2021|
|Equities||||1,043,000|954,000|
|Gilts||||41,000|40,000|
|Other bonds||||76,000|77,000|
|Property||||142,000|110,000|
|Cash / temporary||investments||44,000|73,000|
|Alternative
assets||||215,000|178,000|
|Other managed|funds|||175,000|112,000|
|Total market value||ofassets||1,736,000|1,544,000|
|Present value ofscheme|||liabilities - funded|( 1,802,000)|( 1,737,000)|
|Deficit in the scheme||||( 66,000)|( 193,000)|
|Amounts
reco|gnised
in the Stateme|nt of Financial Activities:|||
|---|---|---|---|---|
||||2022|2021|
|Current service|cost (net ofemployee|contributions)|153,000|105,000|
|Net interest cost / (credit)|||3,000|1,000|
|Administration|expenses||1,000|1,000|
|Total operating|charge||157,000|107,000|
##
##
|PENSION OBLIGA|TIONS c|TIONS c|ontinued|ontinued||||
|---|---|---|---|---|---|---|---|
|Movements
in the|present||value ofdefined benefit obligations||were as follows:|||
|||||||2022|2021|
|At 1 April 2021||||||1,737,000|1,201,000|
|Current service cost||||||153,000|103,000|
|Interest cost||||||34,000|28,000|
|Change
in financial|assumptions|||||( 78,000)|410,000|
|Change
in demographic||assumptions|||||( 14,000)|
|Experience gain on|defined||benefit obligation|||4,000|( 10,000)|
|Benefits paid net of|transfers|||in||( 73,000)|( 8,000)|
|Past service costs,|including|||curtailments|||2,000|
|Employee
contributions||||||25,000|25,000|
|At 31 March 2022||||||1,802,000|1,737,000|
|Movements
in the|fair|value||ofthe charity's share ofthe scheme assets were:||||
|||||||2022|2021|
|At 1 April 2021||||||1,544,000|1,112,000|
|Interest income||||||31,000|27,000|
|Return
on assets less interest||||||126,000|306,000|
|Administration
expenses||||||( 1,000)|( 1,000)|
|Employer
contributions||||||84,000|83,000|
|Employee
contributions||||||25,000|25,000|
|Benefits paid net of|transfers|||in||( 73,000)|( 8,000)|
|At 31 March 2022||||||1,736,000|1,544,000|