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|||Page|
|---|---|---|
|Report ofthe Trustees|||
|Report ofthe Independent|Auditors|28|
|Statement of Financial Activities||31|
|Balance Sheet||32|
|Statement ofCash Flows||33|
|Notes to the Financial Statements||34|
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|Foous area|Nsy performance
indicator|||||
|---|---|---|---|---|---|
||Partners
report positive impact on|practice relating|to:|||
||L
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||||||
||Orchestrss
report positive impact|on practice
in developing|||inciusivity|
||snd relevance|||||
||Increase ths average percentage|ofprojects featuring||diverse||
||creative practitioners
including:
Commissions
ofnew work (including|||||
||collaborative
compositions)
from diverse artists.|||||
||Development
ofstrategic
Ol partners
communications|||plan||
||skills and knowledge
on inclusive|communications|practice|||
|Communications|New advocacy strategy|||||
||Attendance
figures maintained
for|Regenerate
events||||
||Trustees agree and set individual|advocacy plans||||
##
||Identify key areas and tools to gather|evidence|from|the sector to|the sector to|
|---|---|---|---|---|---|
|Impact and Insight|support
producing,
advocacy and funding
development
plans
Update impact and reporting
systems
to provide
meaningful||||analysis|
||for the Board|||||
||Board set target and action plan for Orchestras||Live|governance,||
|Resources.- Governance|internal
systems
and processes to cement an Inclusive approach|||||
|and Expertise||||||
||2023-26 Arts Council England
NPO|application|successful|||
||Reported progress towards achieving|Core funding||target for||
||2022/23
in terms of:|||||
||1.
Funds raised towards core costs|||||
||2.
Engagement
with strategic funders|||||
|Resources: 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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|||||2023|2023|2023|2022|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||Notes|||||
|INCOME FROM:||||||||
|Grants, donations
and legacies|||2|556,950|76,502|633,452|661,977|
|Charitable
activities|||3|215,993||215,993|168,224|
|Investments|||4|7,944||7,944|2,558|
|Total income||||780,887|76,502|857,389|832,759|
|EXPENDITURE ON:||||||||
|Raising funds|||5|70,127||70,127|54,917|
|Charitable
activities|||6|856,493|72,570|929,063|1,002,704|
|Total expenditure||||926,620|72,570|999,190|1,057,621|
|NET EXPENDITURE BEFORETAX|||8|( 145,733)|3,932|( 141,801)|( 224,862)|
|Corporation
tax credit|||10|25,550||25,550|16,153|
|NET EXPENDITURE||||( 120,183)|3,932|( 116,251)|( 208,709)|
|Transfers
between funds|||14|||||
|Net outgoing
resources|before other|||||||
|recognised
gains and losses||||( 120,183)|3,932|( 116,251)|( 208,709)|
|Other recognised
gains|and losses|||||||
|Actuarial
gains I(losses)|on defined|benefit||||||
|pension schemes||||731,000||731,000|200,000|
|Net movement
in funds||||610,817|3,932|614,749|( 8,709)|
|Total funds
brought
forward||||574,410|48,522|622,932|631,641|
|Total funds carried forward|||14|1,185,227|52,454|1,237,681|622,932|
|||||2023|2023|2022|2022|
|---|---|---|---|---|---|---|---|
||||Notes|||||
|Fixed assets||||||||
|Tangible assets||||||||
|Current assets||||||||
|Debtors: falling due|within one year||12|178,178||46,577||
|Debtors: falling due|after more than one year||12|60,000||60,000||
|Cash at bank and in hand||||17,555||37,778||
|Cash on deposit||||624,799||686,766||
|||||880,532||831,121||
|Liabilities||||||||
|Creditors: amounts|falling due within one year||13|( 244,851)||( 142,189)||
|Net current assets|||||635,681||688,932|
|Net assets excluding||pension scheme|||635,681||688,932|
|Defined benefit pension||scheme asset / (liability)|19||602,000||( 66,000)|
|Total net assets|||||1,237,681||622,932|
|The funds ofthe charity||||||||
|Unrestricted
funds|||||583,227||640,410|
|Pension reserve|||||602,000||( 66,000)|
|Restricted funds|||||52,454||48,522|
|Total charity funds|||14||1,237,681||622,932|
##
|||||||2023|2023|2022|2022|
|---|---|---|---|---|---|---|---|---|---|
|||||Notes||||8|6|
|Cash flows from|operating|activities:||||||||
|Net cash used
in|operating|activities|||A||( 88,860)||( 98,615)|
|Cash flows from|investing|activities:||||||||
|Interest received||||||6,670||2,548||
|Net cash provided|by investing
activities||||||6,670||2,548|
|Cash flows from|financing|activities:||||||||
|Repayments
of borrowing||||||||( 50,000)||
|Net cash used
in|financing|activities|||||||( 50,000)|
|Change
in cash|and cash|equivalents|in|the year|||( 82,190)||( 146,067)|
|Cash and cash equivalents||at the beginning||of the year|||724,544||870,611|
|Cash and cash equivalents
at the end of||||the year|||642,354||724,544|
|Represented
by:||||||||||
|Cash at bank and
in hand|||||||17,555||37,778|
|Cash on deposit|||||||624,799||686,766|
||||||||642,354||724,544|
|A. Reconciliation|of net expenditure||to net cash flow||from|operating|activities|||
|Net (expenditure)|I income|for the year|||||( 116,251)||( 208,709)|
|As per the Statement
ofFinancial Activities||||||||||
|Adjustments
for:||||||||||
|Interest receivable||||||( 7,944)||( 2,558)||
|Defined benefit|pension scheme - finance|||cost||1,000||3,000||
|Defined
benefit|pension scheme - service|||cost||62,000||70,000||
|(Increase)
in debtors||||||( 130,327)||( 23,207)||
|Increase
in creditors||||||102,662||62,859||
||||||||27,391||110,094|
|Net cash used
in|operating|activities|||||( 88,860)||( 98,615)|
##
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|2|INCOME FROM GRANTS, DONATIONS|INCOME FROM GRANTS, DONATIONS|INCOME FROM GRANTS, DONATIONS|AND LEGACIES|||
|---|---|---|---|---|---|---|
||||||2023|2022|
|||||||6|
||Arts Council
England
National
Portfolio grant||||487,950|487,950|
||Charitable
foundations
and other|donations:|||||
||Arts Council Create Space NLP|||||38,784|
||Association
of Jewish Refugees|||||2,500|
||The Austin
and Hope Pilkington||Trust||1,000||
||The B0 Davies Charitable
Trust||||500||
||Borough Council of King's
Lynn and West Norfolk||||4,250||
||Chapman
Charitable
Trust||||1,000||
||Chivers Trust|||||2,000|
||Creative
Darlington||||2,000||
||The D'Oyly Carte Charitable|Trust|||3,000||
||Esmee Fairbairn
Foundation||||36,000|55,000|
||Fowler Smith and Jones Trust||||2,000||
||Foyle Foundation|||||20,000|
||Ganzoni
Charitable
Trust|||||1,000|
||Garfield Weston Foundation||||30,000||
||The Joseph and Annie Cattle|Trust|||3,000||
||The Leche Trust||||1,500||
||Leeds Conservatoire||||33,700||
||Norfolk County Council||||1,500||
||North
Norfolk District Council||||7,600||
||North Walsham
HAZ Cultural|Consortium||||10,000|
||Peter Sowerby Foundation|||||10,875|
||Redcar Rotary Club||||300||
||The Scope Arts Trust||||15,000||
||Selby Town Council|||||500|
||The Thistle Trust||||2,000||
||Project and conference
contributions||in kind||1,152|33,368|
||||||633,452|661,977|
||The comparative
figure includes|restricted||income of699,027.|||
|3|INCOME FROM CHARITABLE|ACTIVITIES|||||
||||||2023|2022|
|||||||2|
||Partnership
investments||||210,944|161,839|
||Promoter and other partner
contributions|||||3,039|
||Consultancy,
commission
and other||income||5,049|3,346|
||||||215,993|168,224|
##
##
##
|INCOME FROM IN|VESTMENTS|||
|---|---|---|---|
|||2023|2022|
|Essex Pension
Fund|bond interest|1,274|10|
|Hodge Bank deposit|interest|426|1,736|
|Charity Bank deposit|interest|5,345|760|
|CAF Bank and other|interest|899|52|
|||7,944|2,558|
|EXPENDITURE ON|RAISING FUNDS|||
|||2023|2022|
|Staff costs||68,465|53,513|
|Other fundraising
costs||1,662|1,404|
|||70,127|54,917|
|EXPENDITURE ON|CHARITABLE ACTIVITIES|||
|||2023|2022|
|||5|F.|
|Activity costs funded|directly|84,655|131,627|
|Activity costs funded|by grants|274,196|294,031|
|Creative
digital producer costs||17,780|15,220|
|Project costs in kind||1,152|33,368|
|Direct costs of consultancy
services||1,280|695|
|Staff costs||228,326|237,411|
|Allocation of support|costs (note 7)|321,674|290,352|
|||929,063|1,002,704|
##
|7|SUPPORT COSTS||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||||||||6|6|
||Staff costs||||||225,734|217,968|
||Staff recruitment||||||295|2,150|
||Defined benefit pension|finance||cost - see Note 20|||1,000|3,000|
||Workforce development||||||6,199||
||Training
and conferences||||||2,438|2,234|
||Premises costs||||||11,530|10,627|
||Insurance||||||867|830|
||PR and communications||||||5,407|4,720|
||IT and computer costs||||||4,296|3,510|
||Printing
and stationery||||||27|10|
||Postage and telecommunications||||||651|884|
||Travelling
and subsistence||||||14,266|7,970|
||Accountancy fees and|payroll|||||27,080|26,140|
||Professional
consultancy||fees||||8,350||
||Legal and professional|fees|||||892|3,204|
||Bank charges||||||65|94|
||Miscellaneous
expenses||||||1,691|1,768|
||Governance
costs:||||||||
||Trustees' expenses
for||attending||meetings||2,236|775|
||Trustee board development||||||125|140|
||Auditors'
remuneration||for audit||services||6,475|3,750|
||FRS 102 report and actuarial|||valuation||costs|2,050|578|
||||||||321,674|290,352|
|8|NET EXPENDITURE||||||2023|2022|
||||||||8||
||Net expenditure
is stated||after|charging:|||||
||Auditors'
remuneration||for audit||services||6,475|3,750|
|||||
|---|---|---|---|
|STAFF|COSTS|2023|2022|
|Gross salaries||340,549|324,347|
|National|Insurance
contributions|30,559|29,264|
|Pension|contributions|87,864|83,720|
|Defined|benefit pension service cost -see Note 19|62,000|70,000|
|Pension|scheme administration|1,553|1,561|
|||522,525|508,892|
##
||||||
|---|---|---|---|---|
|TAXATION|||2023|2022|
|Orchestra
and|Film Tax relief - repayable|credit|25,550|16,153|
|TANGIBLE FIXEDASSETS|||||
||||Fixtures,||
||||fittings end||
||||equipment|Total|
||||5|5|
|Cost|||||
|Brought forward|at 1 April 2022||3,421|3,421|
|Disposals|||( 791)|( 791)|
|Carried forward|at 31 March 2023||2,630|2,630|
|Depreciation|||||
|Brought forward|at 1 April 2021||3,421|3,421|
|Eliminated
on disposal|||( 791)|( 791)|
|Carried forward|at 31 March 2023||2,630|2,630|
|Net book value|||||
|At 31 March 2023|||||
|At 31 March 2022|||||
##
##
##
|12|DEBTORS|||||
|---|---|---|---|---|---|
|||||2023|2022|
||Amounts
falling due within one year:|||||
||Trade debtors|||148,638|22,303|
||Tax recoverable|||25,550|16,153|
||Other debtors,
prepayments||and accrued income|3,990|8,121|
|||||178,178|46,577|
||Amounts
falling due after more than one year:|||||
||Essex Pension
Fund bond|||60,000|60,000|
|13|CREDITORS: AMOUNTS
FALLING DUE WITHIN ONE YEAR|||||
|||||2023|2022|
|||||8||
||Trade creditors|||9,809|42,983|
||Other tax and social security|||26,581|7,964|
||Accruals|||144,154|67,869|
||Deferred
income|||64,307|23,373|
|||||244, 851|142,189|
||Deferred income|comprises:||||
||Income deferred|from the previous year||23,373|14,259|
||Released to the|statement|offinancial
activities|( 23,373)|( 14,259)|
||Arising during
the|current year:||||
||Amounts
invoiced
in advance|||54,307|23,373|
||Grants required|to be spent|in future periods|10,000||
|||||64,307|23,373|
|14|MOVEMENT
IN FUNDS - CURRENT YEAR|MOVEMENT
IN FUNDS - CURRENT YEAR|MOVEMENT
IN FUNDS - CURRENT YEAR||Net|Transfers||
|---|---|---|---|---|---|---|---|
|||||At 1April|movement in|between|At 31|
|||||2022
8|funds|funds|March 2023f|
||Unrestricted
funds|||||||
||General
Fund|||223,373|( 396,850)|370,751|197,274|
||PR &Communications|(designated)||1,505||( 1,505)||
||Partnership
Fund (designated)|||355,887|181,392|( 197,860)|339,419|
||Programme
Fund (designated)|||14,980|473,384|( 488,364)||
||Projects Fund (designated)|||44,665|( 317,367)|319,236|46,534|
||Consultancy
& Commission||(designated)||2,991|( 2,991)||
||Direct Activities (designated)||||( 733)|733||
|||||640,410|( 57,183)||583,227|
||Pension reserve|||( 66,000)|668,000||602,000|
|||||574,410|610,817||1,185,227|
||Restricted funds|||||||
||Arts Council Create Space NLP|||19,091|( 19,091)|||
||Scops Arts Trust||||10,000||10,000|
||Leeds Conservatoire||||31,021||31,021|
||Weston Culture
Fund|||29,431|( 29,431)|||
||King's Lynn and West|Norfolk BC|||4,250||4,250|
||Projects||||7,183||7,183|
|||||48,522|3,932||52,454|
||TOTAL FUNDS|||622,932|614,749||1,237,681|
##
##
|||||Other||
|---|---|---|---|---|---|
|||incoming|Resources|recognised
gains I|Movement
before|
|||resources|expended|losses 6 tax|transfers|
|||8||||
|Unrestricted
funds||||||
|General
Fund||106,496|( 528,896)|25,550|( 396,850)|
|Pension reserve|||( 63,000)|731,000|668,000|
|Partnership
Fund (designated)||181,392|||181,392|
|Programme
Fund (designated)||487,950|( 14,566)||473,384|
|Projects Fund (designated)|||( 317,367)||( 317,367)|
|Consultancy
& Commission|(designated)|4,271|( 1,280)||2,991|
|Direct Activities (designated)||778|( 1,511)||( 733)|
|||780,887|( 926,620)|756,550|610,817|
|Restricted funds||||||
|Arts Council Create Space|NLP||( 19,091)||( 19,091)|
|Scope Arts Trust||15,000|( 5,000)||10,000|
|Leeds Conservatoire||33,700|( 2,679)||31,021|
|Weston Culture
Fund|||( 29,431)||( 29,431)|
|King's Lynn and West Norfolk BC||4,250|||4,250|
|Projects||23,552|( 16,369)||7,183|
|||76,502|( 72,570)||3,932|
|TOTAL FUNDS||857,389|( 999,190)|756,550|614,749|
##
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|15|MOVEMENT
IN FUNDS - PRIOR YEAR|MOVEMENT
IN FUNDS - PRIOR YEAR||Net|Transfers||
|---|---|---|---|---|---|---|
||||At 1April|movement
in|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
& 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|
||Scope Art 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||
|||incoming|Resources|recognised
gains I|Movement
before|
|||resources|expended|losses|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
& 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|
|Seeps Art 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)|
##
||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||8|8||
|Fund balances at 31 March 2023 are represented||by:||||
|Tangible|fixed assets|||||
|Net current assets|||583,227|52,454|635,681|
|Defined|benefit pension scheme provision||602,000||602,000|
||||1,185,227|52,454|1,237,681|
##
##
|ANALYSIS OF NET ASSETS BETWEEN FUNDS|- PRIOR|YEAR|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||F|8||
|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|
##
##
##
||||At 31March|At 31March|
|---|---|---|---|---|
|Principal|actuarial|assumptions:|2023|2022|
|Salary increases|||2.80%|3.15%|
|Pension|increases|(CPI)|2.80%|3.15%|
|Discount|rate||4.80%|2.60%|
|||At 31March|At 31 March|
|---|---|---|---|
|||2023|2022|
|||Years|Years|
|Retiring|today|||
|Males||21.10|21,60|
|Females||23.50|23.70|
|Retiring|in 20years|||
|Males||22.30|23.00|
|Females||25.00|25.10|
##
||||Fair value at|Fair value at|
|---|---|---|---|---|
||||31March|31March|
||||2023|2022|
|Equities|||1,061,000|1,043,000|
|Gilts|||27,000|41,000|
|Other bonds||||76,000|
|Property|||151,000|142,000|
|Cash Itemporary||investments|59,000|44,000|
|Alternative
assets|||291,000|215,000|
|Other managed|funds||252,000|175,000|
|Total market value||ofassets|1,841,000|1,736,000|
|Present value ofscheme liabilities - funded|||( 1,239,000)|( 1,802,000)|
|Deficit in the scheme|||602,000|( 66,000)|
##
|Amounts
reco|gnised
in the Stateme|nt ofFinancial Activities:|||
|---|---|---|---|---|
||||2023|2022|
|Current service|cost (net of employee|contributions)|149,000|153,000|
|Net interest cost / (credit)|||1,000|3,000|
|Administration|expenses||1,000|1,000|
|Total operating|charge||151,000|157,000|
##
##
##
|Movements
in the present|Movements
in the present|value ofdefined benefit obligations|value ofdefined benefit obligations|were as follows:|||
|---|---|---|---|---|---|---|
||||||2023|2022|
|At 1 April 2022|||||1,802,000|1,737,000|
|Current service cost|||||149,000|153,000|
|Interest cost|||||47,000|34,000|
|Change
in financial assumptions|||||( 778,000)|( 78,000)|
|Change
in demographic|assumptions||||( 36,000)||
|Experience gain on defined||benefit obligation|||47,000|4,000|
|Benefits paid net oftransfers|||in||( 17,000)|( 73,000)|
|Past service costs, including|||curtailments||||
|Employee
contributions|||||25,000|25,000|
|At 31 March 2023|||||1,239,000|1,802,000|
|Movements
in the fair|value||ofthe charity's share ofthe scheme assets were:||||
||||||2023|2022|
||||||E|6|
|At 1 April 2022|||||1,736,000|1,544,000|
|Interest income|||||46,000|31,000|
|Return on assets less interest|||||( 40,000)|126,000|
|Other actuarial
gains
/ (losses)|||||4,000||
|Administration
expenses|||||( 1,000)|( 1,000)|
|Employer
contributions|||||88,000|84,000|
|Employee
contributions|||||25,000|25,000|
|Benefits paid net of transfers|||in||( 17,000)|( 73,000)|
|At 31 March 2023|||||1,841,000|1,736,000|
|Actual return on scheme|assets||||6,000|157,000|