Reglstared Company Number.. 5988211 (England and Wales) Reglstered Charlty Number: 1117211 ORCHESTRAS LAir REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR ORCHESTRAS LIVE
ORCHESTRAS CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Report of the Independent Audltors 25 Statement of Financial Activities 28 Balance Sheet 29 Statement of Cash Flows 30 Notes to the Financial Stat8ments 31
ORCHESTRAS L REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of th8 Charities Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities, in accordance with the applicable Financial Reporting Standard FRS 102, effective January 2019. INCORPORATION The charitable company was incorporated on 3 November 2006 and commenced trading on 1 April 2007. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 5988211 (England and Wales) Registered Charlty numbgr 1117211 Reglstered Office 3 Sheaf Street Leeds LS10 1HD During the year a secondary administrative presence was retalned at.. Th8 Muslc Base, Kings Place, 90 York Way, London N19AG Trustees Jeremy Clay Musician and Educator Peter Leslie Colllns NHS Chief Medical Offlcer (executive director) Natalle Sarah Ellis Arts Manager Acatrln Mererid Griffiths Joum81ist Helen Elizabeth Harrison Conductor and Music Direclor Michelle Hines Finance and Arts Community Engagement Consultant Matthew Littlewood Investm8nl Banker Carollne Frances Maurice Govemance and Compliance Consultant ARebecca Jane Saunders Retail Consultant Natasha Solano Operations Manager Anthony David Stoller Broadcasting Academic Matthew Swann Recruitment & Organis8tional Change Consultant /Arts Manager Joanne Claire Towler Arts Manager A Willlam Daniel Watson Communications Consullant Asimone Ellouise Wlllls Tansley Music Researcher until 28 November 2023 ' from 28 November 2023 Company Secretary Nancy Buchanan Chlef Executlva Sarah Derbyshire Auditors DJH Mitten Clarke Audit Limited St George's House 56 Peter Street Manchester M2 3NQ page 3
ORCHESTRAS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Our vlsion Is that 'Orchestras are for Everyone, and that everyone has the opportunity to enjoy the Ilfe-enhancing benefits of orchestral music. We are committed to engaging people of all ages and backgrounds, and particularly those In historically under-invested. non-metropolitan communities in England, in creating work that harnesses the transformative power of orchestral music to inspire, bring joy and support wellbeing. Orchestras Live has been evolving for nearly 60 years. We believe that our work stands the best chance of success when it is founded on a listening culture. designed through consultation and collaboration with the diverse individuals and communities with whom we engage. This supports resilience and secures a legacy for the innovative work that we undertake, leading positive change in the sector and impacting our beneficiaries for the good. Our prlmary beneflciaries are audlences and participants l.e. those whom we engage with live orchestral experiences through projects, workshops and performances with a focus on children and young people, families, older people and marginalised groups. Our co- productions develop new ways of presenting live orchestral experiences that bring people In their local communities together with professional orchestras to collaborate, co-curate and co-create new, live orchestral experiences. Our inclusive approach is central to ensuring that co-productions are relevant to the communities in which they are based, engage new audiences. respond to the needs of under-invest8d communities and drive innovation in the orchestral sector. In turn, this work brings direct and distinctive benefits to our stakeholder partners,. the country's leading professional chamber and symphony orchestras, promoters (including venues both traditional and unexpected), local authorities. music education hubs (MEHS), academlc institutions, Local Cultural Education Partnerships (LCEPS), community organisations, museums, heritage and cultural organisations libraries, public sectorlcultural consortia, health and social care providers amongst others. Through their work in partnership with us they develop new models, reinforce their own organisations, support skills development within their workforce and help drive best practice in the orchestral sector to break down barriers where historic structural inequities have perpetuated barriers to access. Our Objects, taken from the Memorandum and Articles of Associatlon as incorporated 3 November 2006, are to.. (a) promote, maintain, improve and advance education and the Arts, in particular musical education and musical Arts, by: (i) organising, managing and providing orchestras. orchestral, instrumental, vocal and cross-artform perfomances and related educational activities; and (li) assisting local and regional authorities, festivals, concert promoters and other bodies in organising, managing and providing orchestras, orchestral. instrumental, vocal and cross-artform performances and related educational activities; and (b) carry out any other purpose which is charitable under the laws of England and Wales from time to time. page 4
ORCHESTRAS LA4 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 This report covers our Business Plan for 2023124, the first year of a renewed multi-year funding period as a National Portfolio Organisation (NPO) of Arts Council England. OURWORK DURING 2023124 Publlc Beneflt The trustees have paid due regard to the Charity Commission's guidance on public benefit In declding what activities the charity should undertake, a summary of which is given below. In 2023124 Orchestras Llve continued to play a vital role In bringing excellent orchestral music to culturally under-served audiences and communities throughout England. Post- pandemlc, we continue to think how things could be done differently to develop new kinds of creative and artistic collaboratlons, and to broaden audlences and cultural participatlon. We have maintalned our focus on in-person delivery and perfomianc8s whllst creatlng opportunities for a hybrid approach, blending digital and live platforms. This provided continulty of engagement with high quality, Inclusive orch8Stral experiences involving a wide range of people in under-lnvested locations. Responses illustrate the power of muslc to connect people across divides and in uncertain times. 'Our opportunities to be involved in th8 community are limited. This mad& us feel really included." Care settlng feedback, Music & the Movies Classically Yours Wlthernsea with Manchester Camerata Durlng the year w8 maintained our relatlonships with 41 locally based partners. In collaboratlon with other stakehold8rs, together we delivered 44 projects and concerts engaging people in 41,015 orchestral experlences across England. Our events featured 18 professional orchestras through a combination of creative workshops, liv8 performances, live streams, digitavhybrid productions and online interactions. In addltlon, we reached a further 25,150 people during the year through our website and 1,801 subscrlbers each month through our e-newsletter. Our topical Tea Break videos reached a total of 355 vlewers. In 2023124, 86 % of our partners said that they would not have produced the activity wlthout us. 760/0 of all current activity partners responding to our Needs Analysis sald Orchestras Llve had significant or some impact on how they have been able to work overall. "Working with OL. means we can collaborate with a first class, inspirational orchestra . and deliver meaningful, life-impacting projects. You also give a 'seal of approval, and confid8nce to other funders to support us." Partner feedback The Sky Engine- JAM on the Marsh, London Mozart Players All of our work Is about making the incredible music, artistry and skills of renowned British professional orchestras accessible to all sectors of society. Community and artistic partners benefit from our distinctive focus on community consultation and engagement, enabling them to consider how orchestras can best contrlbute to community coheslon and wellbeing. Orchestras can play a role in building confidence amongst people of any age to engage with each other, with their locality and with cultural activity. ' The immersive nature of the programme and the naturalness of the interactions has made a life-long impact on the Ghildren and the ripple effect has been seen in families and the wider community. Bramley Vale School page 5
ORCHESTRAS LAiKr REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 has reassessed the importance of music within our curriculum as a result of the positive impact of working with Orchestras Live." Headteacher, Bramley Vale Primary School, Bolsover District This level of quality, inspiration and creativity has a profound effect on the partlcipants in Orchestras Live's events and projects as well as bringing related societal benefits to their locations. During the year we ran a pilot project evaluation of a community focused project in the East Riding of Yorkshire, using the Social Value Engine. Mapped against the universally accepted UN Sustainable Development Goals, the result indicated that a social value of £8.73 was achleved for every £1 spent. 'We have found the projects to consistently offer opportunities for students to play important roles and contribute in meaningful and creative ways. They are also inclusive 8S they frequently bring students together from many different settings and with different abilities, making all feel like they are a valuable p8rt of the proj8Gt. Lastly, they provide exceptional value for money, by ensuring the quality of provision is extrgm8ly high, there are always considerable numbers of students involved and that the fees involved are affordable." Partner feedback, Suffolk Music Hub- Musical Connections with OAE The following examples show the wide range of musical experlences we and our partners developed with people across England in 2023124. Cultural communltles Evldence1 2 shows that Inherent inequalities experienced by indivlduals and groups prevent them from accessing high quality orchestral experiences as participants and audiences. Through a nationally significant network of sustainable local and regional partnerships, we prioritlse work with people whose communities have suffered historlc under-investment, one of the consequences of which is a lack of infrastructure or context to realise their full creative potential. Arts Council England's 2019 publication on Arts, culture and rural communitles states that 'predominantly rural, areas have experienced the greatest decline in cultural spend, at 32.7 % 3 In 2023124, 510/0 of Orchestras Live's activity budgets and 48 % of our Producers, time targeted local authority areas within Arts Council England's designated Levelling Up for Culture Places, identified using data relating to Arts Council investment, public engagement with culture and creativity, deprivation, children and young people, ethnicity, and disability. Our co-productions place the emphasis on co-creation and co-curation. working with not for local communities, giving people a stake in their cultural programmes and challenging the orchestral sector to be radical and relevant. "Please can we have more of the same. We are a deprived area and the event made me feel uplifted." Audience feedback, BBC Concert Orchestra Prom in Great Yamiouth We embrace our participants, creativity and champion the relevance of their work alongside orchestras, standard repertoire, fostering a broader understanding of new music and digital productions amongst the profession and communities alike. Of new work produced, 72Q/o involved community co-creationlcollaborative composition. Fancourt D, Mak HW (20201 Whal barrlers do people eXenrA lo engaging in the arts? Strudural equallon modelllng of the relationship been IndNidual characteristirs and capabilities, cyportunlllas. and ryK)tivalions to enga. PLOS ONE 15131.. e0230487. hllps.'Ildol.org110.13711joumal.pone.0230487 Moore J {19981 Poverty and Access lo the Arts= inequalitses In arts 8ttgndarKe. Cultural Trends 8131 > ' AMP and Bloom Ajts ConsLtanCY {20241 Gone in the r. musical opportunities In i801aled Englarml. page 6
ORCHESTRAS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 CASE STUDY Bolsover Cultural Corrldor 2023124.. connectlng communltles thmugh creatlvlly The Bo150ver Dlstrfcl.. Cultural CoTrldor project. launched In February 2024. alming to enhance cultufal access and engagement In under-served fomier mining communities in Bolsover. Thls place-based orchestral music inillative brought professional musician5 to collaborate with local residents, foslerlng sustainable creative Infrastructure and meaningful connecllons through shared projects and performances. In partnershlp with Music in The Round and local organlsalions such as Ooe Lea Centre and Bramley Vale School, tho project introduced professlonal musiclans to varfous community groups. celebratlng Bolsovels pasl, present, and future identity. 'Il brought cullure lo the cèntr8 and the communlty." Community membgr The Inltlal phas8 spanned Ihree days. featurfng dynamlc minl-conc8rts and workshops that engaged particlpanls and built community bonds. Aclivilies Included sessions al the Ooe Lea Centr&, Glapwell Cenlre. and Bramley Vale School, whore muslc-making and slorylelllng led lo new composltlons. On the last day all the groups werè Invited to allend a public concert presented by the Conson8 Quartel. The project's success was reflected in enthusiastic feedback from communlty members and particlpanls, hlghlighting the programme's Impact on cultural engagement and confidence In muslc. 'Wh&n all of Ihem playad th8 muslc. 11 was Ilke a m8glcal port811o another world.. Bramley Vale pupll Thls In111818ucce58 has spearheaded an èxpanslon of local partnets and deeper community Involvemenl Includlng the formation of a communily choir. Work wlll continue in th8 comlng financial year lo form a coherent framework for creative aclivllies across small village communltles. "[My favourile aspect wasj seeing the rang8 of engagement by the Ioc81 communlly from 2 yrs old to 86 and people from different walks of life." Community leader. Bolsover DSslrfct Insplrlng Chlldren and Young People We produce first-time and pathway orchestral experlences for children and young people that incorporate young people's voice. encouraging partners to innovate, offering progression opportunities that are inclusive and support children to achieve their potentlal and develop a lifelong love of muslc. 70./0 of all current activity partners responding to our Needs Analysis said Orchestras Live had significant or some impact on their practice relating to engaging young people and families. We engage chlldren and young people in creative activlty that supports their wellbelng, adds value to a curriculum in which music is under threat, and enables them to explore contemporary issues in relation to society, wellbeing and environmental responsibility. 'For me, [the greatest impact of this project was] seeing all instrumentalists feel welcome and that their ideas were relevant and suitabl8. Everyone was involved in the creative process, even some young pupils with Special Needs who don't usually get involved with any kind of ensemble playing. Also having the instrumentalists in school come together to form a18rge ensemble was very special indeed .. the pride they felt from this amazing achievement will have a long lasting impact." Durham Music Service for Darlo Creates with Royal Northern Sinfonia In line with our regional development strategy. we build strategic partnerships with music education hubs {MEHs), youth-focused charities and organisations. and Local Cultural Education Partnerships to target cold spot areas. page 7
ORCHESTRAS LA4 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 'As an organisation the insightful, meaningful and creative ways Orchestras Live work has enabled thousands of young people to engage in Orchestral music over the past two years... [put them] ... at the forefront of orchestral miisic and bringing orchestras to a new audience across Norfolk.. Partner feedback, Norfolk Music Hub Durlng the year we collaborated wlth 17 MEHS, engaging with children from the early years In mainstream and special schools. and involving families and carers in their children's experience. CASE STUDY Deaf Parspectlves, Suffolk.. local hlstory Insplrlng the d/Deaf communlty A collaboration with Suffolk Archives focused on the dlDeaf community in Bury Sl Edmunds, Insplred by Walton Burrell (1863-1944), a profoundly deaf photographer. The project engaged dlDeaf children and young people from Weslgale Communlty Primary School and King Edward Vl School, both ol which have Deaf Resource Bases. Aclivilies Included participants creallng music and photography that explored their lives and locality, inspired by Burrell's exlensive photographic work. Key partners included Orcheslras Live. Brillen Sinfonia, Suffolk Music Educallon Hub, and the Offshoot Foundallon, with contributions from Deaf flaulist Ruth Monlgomery and other professional artists. The project. conducted in the autumn tem) of 2023, culminated In a concert at King Edward Vl School. Students performed four new music pieces inspired by Burrell's photos, which were displayed durlng the performance. The concert. filmed and available on Suffolk Archives, YouTube channel, highlighted the students. creatlvity and brought Burr611's work lo a broader audlèn&g. "I know not to und8r8slimate ¢WDeaf peoplè. but I was very Inspired by what I saw and 8njoyad.' Audience member The proje¢l had a lasting impact. Sludents displayed incr•as8d1gv8ls ol confidence and have a go. attitud8' with sever81 continuing lo play Inslrumenls. induding one 51udenl al the primary school learning lo play gullar In a band, and two more taking up drums. Three Year 9 sludenls expressed enlhusi8sm for music al GCSE prompting the school lo Ilalse with the exam board to lallor the course to dlDeaf chlldren. 'When Ihe man was playing Ihe c8110 I could feel it in my chesl...I felt involved slill.. Sludent Learning resources and an onllne display of Burr811's story photos extended the project's reach and Influencè. Improvlng Health and Wellbelng We create projects that use the power of live music to support individuals to Ilve well and engage fully in their cornmunities. In 2023124, 87 % of our surveyed audiences and participants said taking part in our projectslattending our events had a positive impact on their mental wellbeing,. 900/0 reported increased feelings of belonging or feeling part of their community. With local and regional partners. we design developmental, bespoke work to address issues including dementia, loneliness, mental health and marginalisation. 590/0 of all current activity partners responding to our Needs Analysis said Orchestras Live had significant or some impact on their practice relating to health and wellbeing. 'I've realised I haven't been able to go any live music for a long time.. firstly, because of Covid and then because I've had a baby. I was actually quite emotional at points to hear instruments live again and share it with my son. Thank you for giving pantS of young children a chance to see musicl" Audience feedback. A Day at the Pondlmausam, OAE, North Yorkshire page 8
ORCHESTRAS LA4JL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Durlng the year we have continued our role as convener of an informal working group to promote better understanding and collaboration between the orchestral and healthcare sectors- Orchestras in Healthcare, The group comprises representatives of the Associatlon of British Orchestras, National Association for Arts in Hospitals (NAHN), BBC Concert Orchestra and Orchestras Live. We ran the second UK-wide Orchestras in Healthcare survey and published a report, deepening understanding of the scope and depth of this work. While celebrating successful collaborations, the report calls for further research to illustrate the social value of this work, aiding effective storytelling for policymakers, funders, and commissioners. The report reinvigorates the cross-sector Orchestras in Healthcare consortium, promising more networking and advocacy opportunlties in the coming year. .1 welcome this report whlch celebrates the work of orchestras in healthcare, a riGh and wide range of work that goes on across the Gountry In various S8ttings achieving positive outcomes for pati8nts. l am pleased to see that Orchestras in Healthcare will continue to work with key organisations such as the National Centre for Creative H8alth, Arts CounGiI England, and other sector wide bodies to build a robust evidence base, demonstrating the value of this work." James Sanderson, Director of Community Health Seniices and Personalised Care, NHS England Our programme in 2023124 delivered work wlth many different communities, In small and large-scale care settings and In isolated communities where loneliness Is a common and debllitating experience for many. CASE STUDY Good Company, Essex.. creatlv• support for people Ilvlng wlth dementla and thèlr cfirers Good Company Is a collaboralive projecl In Breniwood. Essex. Involving artlstlc organlsallons and peoplé living with dementia, alongside their family ¢areTS. Th8 initialiva, supported by the Alzheimef s Soclety, offers an innovallve solution to closlng the health Inequality gap for those in the communlty Ilving with demenlla by givlng them greater agency. Inleracllon and engagement with Ihelr carers, lamllies. local communllles and services. Pariicipants engage In w80kly creative sessSons at Brenlwood Theatre, Including reminiscence arts, dance. music. and co-creallon acllvltles. Those sesslons, led by artists from Age Exchange. Green Candle Dance, and Sinfonia Viva, alm to enhance well-belng, Identity, and relatlonships. Two local Asslslanl Muslc Leaders have also been recruited lo suslaln th8 program's Impacl in thè future. .1 was amazed al Alan. He actually sang 'Abl8 my boy.and got 8 round of applause. I dldny know he knew tho words, it was a song his father always sang, I think he surprised hlmself. If you kn8w Alan, singing 8 song to slrangers was Ihe last thing he would ev8r do. I was so pleased." Margaret (partner of Alan, who lives wilh dementia) Deslgned as a prevenllon and early inteNention program, Good Company Supports cognltlve reablernenl, confldence. sell-expression, and physic81 health. conlribuling lo prolonged indopendenl living. The sessions offer a blend of social inler8ction, pastoral care. and creative arts lo benefit both partlcipants and caffjrs. The proje has tumed Brenlwood Theatre into a creative hub for dementia supp)rt and has been evaluated by the University of Essex to inform Its ongoing d8velopmenl. Funded by the UK Shared Prosperity Fund. the Improved Betler Care Fund and other st8keholders, Good Company is a partnership beiween Orchestras Live. Sinfonia Viva. Age Exchange, Gre8n Candle Dance. Breniwood Thealre. Brentwood Borough Councll and the Alzheimefs Society. page 9
ORCHESTRAS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Workforce development We are committed to investing in training for music leaders and musiclans. and nurturing new talent entering the sector. We aim to support the development of a diverse orchestral workforce, maximizing access and opportunity and retaining local skills for the delivery of orchestral experiences of the highest quality. 760/0 of all current activity partners responding to our Needs Analysis said Orchestras Live had significant or some impact on their practlce relating to finding partnersltalent; 570/0 said we had significant or some impact on their practlC8 relating to skills development. "ffhe proj8ct] involved a process of auditioning local Southampton artists to be part of the creation of material and the performances. The audition proc8ss was thorough and inclusive, and the artistic working, including very h8lpful feedback [from Orchestras Livej was fulfilling. We were very happy with the quality of [th8 local artists] music and involvement, . [one of whom] has recently been offered an Arts Council Development Award . .80 this Is a very positive direct outcome of the project." Partner feedback, The Ripple Effect, Southampton In 2023124.. 67 % of artists featured in Orchestras Live projects (who responded to our monitoring survey, 47 % response rate) were from a demographic background historically under-represented in the sector. 57 % of composers working on Orch8stras Llve projects (who responded to our survey) were from a historically under-represented background. This has contributed to our sector leadership regarding workforce dev8lopment and diversity. "Orchestras Live has supported our EDI research and led the way in calling for better EDI in orchestras." Membershiplcampaign organisation (Needs Analysls response) CASE STUDY New Connecllons, Leeds.. creaeive muslc leadershlp and ¢alen¢ development Our partnershlp with Leeds Conservatolre, Inllialed in 2022, provides stud8nls vAlh Iralnlng and experience in orcheslral community muslc making. Over three years of action learning, our collaboration aims lo develop sludenls, skills in muslc leadership within community 5ellings, foslerlng deeper connections wilh the city's diverse communities. enriching the students. educational experience and the city's musical landscape. The first year, 2023, involved a pilot project as part of the Conservatoire's Knowledge Exchange programme. engaging groups such as Made with Music, Meeting Point Leeds. and Burley and Woodhead Church of England Primary School in co-creation and performance with the students and professional musicians from Manchester Camerat8, The program includes In-depth skills development. creative projects, and a culminating concert, enabling students lo apply their learning In Tral-world sellings. An exlemal evaluation highlighted the project's positive impacts. with 93% of participants rating their experience as very good and 89% of audiences feeling il improved their well-bging. 89% of participants said the project made them feel more confident about doing new things. Three new piece5 of music were co-created and performed. showcaslng Ihe project's success in fostering artistic citizenship and community engagement. Insights from the evaluation will guide the future development of the New Connection5 programme. Partners have established an annual skills programme offer covering music leading. inclusion and reflective practice to enhance skills and complement project work. page 10
ORCHESTRAS L REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Drlvlng Incluslon As a national producer, Orchestras Live is in a unique position to engage orchestras, promoters and investing partners in new approaches to address inequalities of access and opportunity. 63 % of als current activity partners responding to our Needs Analysis said Orchestras Live had slgnificant or some impact on their practice relating to diversity and inclusion. "twa have felt Orchestras Live s impact in] creating opportunities for collaboration with disabl8d musicians whose lived experiences are helping to inform our approaches to greater inclusion across all elements of our work." Partner feedback, Sinfonia Viva (Needs Analysis response) We are commltted to embracing diversity and eliminating discrimination as an employer, as a provider of opportunities and servlces and within the wider orchestral sector. We alm to create and promote a culture that respects and values individuals, differences, that promotes dignity, @quality. inclusion and diversity. and that encourages individuals to develop and maximise their true potential. This means reflecting critically on issues of diverslty and inclusion within all that we do. identifying and taking appropriate action to reduce inequality and improve equity of opportunity. Our Dlverslty, Incluslon and Relevance Commlttee meets quarterly and reports dlrect to the Board. Initiatlves taken during the year include: Membership of the Fair Access Principles and Black Lives in Music and engagement with other national bodies e.g. Equality & Human Rights Commission, Musicians Union, PRS Keychange Contributions to Music Mark conference (Decolonislng the Music Curriculum) and Music Education Council roundtable (Race and Music Education) Featuring a range of different voiceslexperiences in our Tea Break film series to provoke and challenge both ourselves and our audiences Active engagement in Arts Council England's Fair and Inclusive Classical Music Midlands action research project, aiming to support young people from all backgrounds to access careers In the classical music industry Membership of Arts Council England's Fair and Inclusive Classical Music Data Group. Embedding inclusive practice in our recruitment of staff, creative practitioners and trustees, in lin8 With our Inclusion Policy, including systematic collection of demographlc data Collecting data to monitor demographics and experiences of those who make and experlence our work (stafflartistslaudienceslparticipants) Internal and external training for employees around issues of diversity and inclusion, building from awareness to confidence in having open conversations and taking action to address issues Staff and trustee surveyslappraisals to understand experience of inclusion and identify where change may be needed to ensure an inclusive working environment Deslgnating a member of staff as OL'S intemal EDI lead. Dlgltal Innovatlon Digital technology and its use in the cultural sector was transformed by the response to Covid-19. Rapid change continues to offer new opportunities for distribution and extending the reach of live performances. as well as innovative ways to engage with diverse participants. Orchestras Live brings a creative and innovative approach to the creation of page 11
ORCHESTRAS LAIV REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 digital content and explores presentational approaches. including the combination of live and digital in 'hybrid' performances, that can engage new audiences. CASE STUDY: Love Storles, S¢arborough.' audlo mu$l¢ trall telllng Scarborough'$ love storlos Love Slorles, a collaborative projecl wlth ARCADE. aimed lo use orchestral rnuslc lo naffale real- life love stories Irom the Scarborough community. By engaging wilh the Communlly through workshops and a slory-galhering campaign. ARCADE collected over 100 love slorles inspired by Soulh Cliff Gardens. These stories were then Iransfomied into a digital audio trail featuring muslc co-crealed by eLtmmunily members, composef Jac*ie Walduck. and musicians from Sinfonia Viva and Scarborough Spa Orchestra. The project nol only showcased Scarborough's romanlic history bul also supported Scarborough Spa Orchestra's and local muslc leaders. development of creallve communlty practlces in musical co-creallon and community engagement. -Whal an amazlng expgrlgnce thls Lov8 Stories proi8cI has been. We have always kepl our preclous story to ourselves. Thank you for the wonderful opportunity lo share il with famlly, friends and Ihe wortd." Rusty and Ron. members of the community $lorytelllng ensemble In July 2023, audiences were invited lo explore South Cliff Gardens and immerse themselves in the audio trail, which combined storytelling. p081ry, music, and song. The Love Slorles audio trail. divided into five chapters, was recorded live al Scarborough Library's concert hall and Is available online for streaming. The project provided Scarborough Sp8 Orcheslra musicians with an opportunlly lo nnect in a n8w way with the local community and share IheSr ensemble's unlque herllage. "Belng able lo play my flute to help cr88le Ihese melodies and 8nh8nG8 Ihe slorylelleffs words has b88n a r88lprivllege." Kathy Seabrook. mu$l¢l8n. Scarborough Spa Orchestra Love Slorles was produced by ARCADE. co-produced with Orchestras Llve and Slnfonla Vlva, and commlssloned by North Yorkshlre Coundl. Impact and Inslght Orchestras Live has an outcomes-based approach to its work whlch is driven by the data we collect and analyse to measure impact, learn from results and share insight. In 2023124 we further embedded the role of Impact and Insight analysis. Data informs us how effectively our partnerships deliver on business plan objectives, provides the Board with Impact analysls and ensures stakeholders benefit from our insight. "Orchestras Live is a perfect example of a small but mighty charity that really und8rstands how to use data to shap8 and change what it does and how to do it in the best possible way.. Data Orchard, Data Maturity Assessment report To inform our strategic and project planning, we draw on external sources and internal data: Arts Council England's list of Levelling Up for Culture and Priority Places Additional mapping against existing Local Cultural Education Partnerships and Creative People and Places initiatives Organisational knowledge combined with sector consultation flagging up local authorities at risk of diminishing cultural provision Annual Partner Surveys Targeted audience and participant research delivered using ACE'S Impact & Insight Toolkit and through bespoke research designed with partners Sector Needs Analysis (biennial). Our 2023 Needs Analysis has informed our business plan for 2023124- 2025126 and delivery in 2023124. The next Needs Analysis will be conducted by Autumn 2025. page 12
ORCHESTRAS LA4 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 We monitor the effectiveness of our activities against planned outcomes through.. Feedback from project participants, audiences, partners and delivery artists End of project reports collecting feedback from partners and orchestras Independent evaluations Academic research Demographic data and experience feedback from audiences, partlcipants, artists and candidates involved in recruitment Reflections meetings internally with Producerteam, feedlng headllne findlngs and action points back to the trustees via Board reporting New 'Deep Dive, Evaluations. exploring a specific partnership or project in greater depth to inform our strategic approach We undertake robust Internal evaluatlon and reporting of every project's performance against its objectives, using detailed reports and analysis to help improve the effectiveness and increase the impact of our work. CASE STUDY: So¢lal Value Englne. Classl¢ally Yours, East Rldlng ol Yorkshlre Councll.. addr•sslng the Challenge to evldence Soclal Return on Investment When East RidSng Council Introduced us to the Social Valu8 Engin6, a lool develop8d wllh Rose Regenerallon to measure soclal value, we were eager to apply it to our work. Soclal value measures thè posllive Impa¢1 of activities on commLtnllies. b8yond financial profit. By evaluating the soclal value of our Classlcally Yours programme in WilhernsealHornsea. we almed to provlde concrete evldence of Ils Impact. The programme involves crealive projects wilh care settlngs and schools, culminating in Intergeneratlonal performances wllh Manchester Camerala and local cholrs. Uslng th8 Social Value Engine. the data we gathered from participants. communlty partners, artlsts and audiences, was translated into measurable soclal value. The pllot project reveal6d that Classlcalty Yours delivered £8.73 of soclal valu8 for every £1 spent, aligned with flve UN Sustainable Development Goals. This positive outcome affirmed our observations and demonslrated the slgnlflcant Impacl of our Vrk on the communlty. The Soclal Value Engln8'8 ablllly to objectively measure and mMunicate the benefits of our cultural inilialives has proven invaluable. W6 are now expanding thè use of this tool across varlous projects and sharlng our findings with stakeholders. including Arts Council England, to advocate for thè value of cultural aclivS1ie5 and Inform future planning and programmlng. Communlcatlons and Advocacy Communications is an integral part of all our delivery, from hlghllghting the profile and impact of our partnership projects to raising our profile within and beyond the orchestral sector and championing the needs of our beneficiaries to national and local decisionmakers. We maxlmise the potential of our networks and stakeholder groups- locally. reglonally, nationally and internationally- to promote the impact, value and learning from our work. 78 % of our partners and sector contacts responding to the Needs Analysis see Orchestras Live as a changemaker in the sector. Our advocacy plan aims to raise our profile outslde of the immediate orchestral and perforrning arts sectors. During the year we have continued to build active Ilnks with stakeholders and networks in the broader charity sector. national and local government, as well as the health and wellbeing sectors. We played a prominent role in the Associatlon of page 13
ORCHESTRAS LAW REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 British Orchestras annual conference in January 2024, where we launched the second report in our Orchestras in Healthcare research. Other conferencelseminar contributions include the Culture Health and Wellbeing Alliance, Music Mark (music education membership organisation), Music Education Council. and the Mastercard Music Trailblazers panel. Our Communications and Insight & Impact functions are inter-related so that internal and external communications build on impact measurement to support advocacy and business development. We use a range of communication tools to strengthen Orchestras Live's brand position, extend and deepen impact through digital distribution and champion under-represented audiences. Our communications strategy has challenging targets for increasing engagement and reach across our online platforms. Our ebulletin list maintained a relatively stable subscriber base at 1,801 (2022123: 1,839) subscribers, we had 3,326 Twitter I X followers (2022123: 3,308) and increased our reach on Instagram with 1,106 followers (2022123: 925) and Linkedln with 1,331 followers (2022123: 859) following work to increase the frequency of our content. Our website reach for the year was 25,150 (2022123.. 12,372) and analytics demonstrate a higher percentage of our website traffic coming from our social media channels and referrals from our regular ebulletins. We documented the impact of the organisation and our communicatlons in our 2023124 impact review.. htt s:Ilwww.orchestraslive.or .uklour-im act-202324 Following the launch of our informal Tea Break s8ri8s in 2020121, 3 more episodes were produced and published in 2023124. achieving a total of 355 vlews. Tea Break interviewees Included: Bradley Wilson (Underscore- The People's Orchestra), Ruth Montgomery, muslc leader and musician, and Nii Kwartey Owoo, trainee music leader. Performance Management We malntain a bespoke IT system to record and analyse all data arising from our work in an Integrated reporting format. The Board of Trustees has access to all govemance information through a dedicated Intranet. The Orchestras Live 'Dashboard' _ a tailored reporting system utilising excel data to feed Into a powerpoint document, allowing us to measure our performance against the detailed quantitative annual targets set out in our Business Plan - Is updated quarterly for Board review. Self-evaluation takes place on a regular basis through staff meetings and annual appraisals which result In a structured year-round work plan with objectives for each team member. During the year we also sunieyed staff regarding their experience of Wellbeing and Development within the organisation. Results have infomed initiatives to support a dynamic. resilient staff team and a Staff Wellbeing and Development Framework. Orchestras Live is a National Portfolio Organisation (NPO) of Arts Council England. 2023124 was the first year of a new three-year funding period to March 2026, the outcomes and targets for which had been agreed with Arts Council England in line with our business plan. Page 14
ORCHESTRAS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 We measured performance against Key Performance Indicators and Progress Indicators in the following areas: Programme Delivery, Impact and Insight. Communications. Income Generation. Governance and Operations (Ambition & Quality; Diversity, Inclusion & Relevance; Dynamism. Environmental Responsibility). At the year end, we had exceeded, met or were on track to meet these indicators of progress. Fundlng Development and Income Generatlon We were delighted that our principal funder, Arts Council England, confirmed our National Portfolio Organisation status for a further three years from April 2023. with an uplift in recognition of our plans to deepen our impact through new Community Impact Co-ordinator posts and build our resilience through a new Business Innovation Strategy. Despite a challenging economic environment, we take heart that many local authorities continua to priorltise their relationship wlth us, with levels of Investment maintained and - In som8 cases - exceeded. Maxlmising and div8rsifying voluntary income continues to be an imperatlve, however, with support from trusts and foundations critical to underpinning our developmental work. Despit8 a challenglng external environment, we have been grateful for vital funding towards our core costs from the Esmée Fairbairn Foundation (3-year grant commencing 2021122) and the Garfield Weston Foundation (2-year grant commencing 2022123). Funding from the Scops Arts Trust (2-year grant commencing 2022123) Is supporting a mix of core and project costs in the Midlands. Other grants towards project activity were secured from the Joseph and Annie Cattle Trust. Three Monkies Trust, Th8 Hull and East Riding Charitable Trust, Hays Trav81 Foundation, The Joicey Trust, The Catherine Cookson Charitable Trust, Michael Cornish Charitable Trust, The Radcliffe Trust. Ovingdean Hall Foundation, The Belstead Ganzoni Charitable Settlement, Slr James Knott Trust, The Gillian Dickinson Trust and Chivers Trust. We were also pleased to rec8ive project grants from funding programmes run by Derbyshire County Council and Essex County Council. The Orchestras Live team also supported and advlsed partners on a number of their own fundralsing bids forjoint work, levering £55,500 of extra local Investment into local ommunltles, We continued to see positive results from the augmentation of the Funding Development leam in 2022, through an increase in fundraising activity, revised systems to inform strategic plans and adoption of a new database. In 2023124 we developed and adopted a Buslness Innovation Strategy to support our Business Plan objectives to diversify income sources for the organisation. The position of Business Innovation Manager has been created and will be appointed early in the 2024125 financial year. Throughout 2023124. our senior management and Board of Trustees continued to actively monitor our financial and operational position. Our sincere thanks go to all our supporters over the past year, without whom our work would not be possible. Environmental Sustalnablllty As a charity with a national remit, Orchestras Live recognises its responsibility both to embed and to promote best practice in carbon friendly emissions policies. paga 15
ORCHESTRAS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Our business model is built on the ethos of collaboration: we work with a neork of partners to enhance local orchestral activity that supports shared priorities for social impact, including environmental sustainability. We seek to develop a national infrastructure in which high quality. innovative and engaging orchestral provision thrives, with an orchestral sector that is relevant to its communities and audiences, and environmentally responsible. As well as these social motivatlons, we are committed to comply with regulations as they apply to our organisation. and to ensure that we have the capacity to do so. In recognition of the current climate crisis, led by our Environmental Responsibility Working Group, we have strengthened our commitment to environmental responsibility across the organisation to take focused action and achieve greater impact. Durlng 2023124 we Implemented the following key environmental commitments: A data collection plan to provid8 operational carbon footprint and set metrics for improvement Provide carbon literacy training for all staff and trustees Adopt internal green digital guidelines informed by a website audlt Communicate with delivery partners to convey our environm8ntal policy ambitions and assess their alignment Hold conversations Wlth partners to embed considerations about environmental r8sponsibility In programme and project planning Use our sector leadership role pro-actively to advocate for action, in planning discussions with partners. To support this, we have incorporated Environmental Responsibility in our Partnership Principles reinforcing the requirement for partners to align with our objectives in this area from 2023124 onwards. Organlsatlon: staff and operatlonal structure During 2023124, our staff team Increased from eleven (8.4 FTE) to fourteen (11.6 FTE). It is led by the Chlef Executive, who reports to the Board of Trustees. Our structure aims to: Support a dynamlc business model malntaining our agile approach and able to respond to the challenges ahead Build and develop a resilient team with scope for succession planning and greater diversity Provide a framework for regional growth and a medium to long term plan ft)r business development. page 16
ORCHESTRAS LAI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ORCHESTRAS Board Organogram Chl•f Ex•¢utlv• ••ms OPIELOPME14T& MANAGEMENT General Manastr He ol D¢¥eluwerlpft Fundlr81)e¥elopmEntCo. oltor IrThi¥4llDnMatta6erplt PRODUCnC StDioICrealiYe PIDder A¢8n31 plod¢15- North & MWlaDd5 1145IGHT& COMMUIIICATIONS (ommunulhin5 Slialeii%tph Comths Officer I1nd &Conleoll lut1•, Oata & kn5ightAI hdmthA%5i%unlph Stakelioldef Servlces l ¢rArmJnlty •DyDM•nt Ceniial Seivlces OperaiioThs 04141nsWt & Impxt FINrr Prod1 North Prnourtbjry Oakn&lMhtANly%t Fln4rKe Furdlry D•vElopm•ntCoorflr••lor Reseoicli ApplkLttiL¥ CthtwotwJqAdw¢ts£y R•iloNI plodr- Comfflunltylmyrt Co•Ydlntyvs m1th4- Naih- f451 *tOlMIts& PayroN AHl%tshtpfv Our partnerships are managed by the Senlor Creative Producer, and Regional Producers for the North and Midlands, each with responsibility for specific geographical areas in line with our strategy for phased regional growth, supportlng an entrepreneurial approach to income generation and new business models. As part of our NPO funding agreement with Arts Council England, In 2023124 we grew our team with the addition of three regionally based Community Impact Coordinators, whose role is to support the Producer team in deepening impact and growing partnerships in their respective regions. The Communications Strategist leads on brand management and our overall communications strategy across all platfomis, supported by the Communlcatlons Officer (Brand and Content), a role which was enhanced in 2023124. The Production, Data and Insight Analyst plays a central role linking communications, impact analysis, data and finance across all our activities. The post is supported by a part-time Data and Administration Assistant. The Head of Development (previously titled Funding Development Manager) raises vital resources towards fixed costs and specific projects, supported by the Funding Development Co-ordinator. The General Manager is responsible for the day-to-day management of all aspects of Orchestras Live's organisational, financial. administrative and governance affairs, including risk and compliance. Our registered office is In Leeds and we have two co-working spaces there and one desk at Kings Place in London. Our cloud-based systems have continued to provide a stable base for OL'S operations. Since April 2022 we have operated a home workinglhybrid staff working arrangement designed to maximise economies whilst factoring in environmental considerations, efficient use of time and our premises and staff wellbeing and resilience. page 17
ORCHESTRAS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The accountancy firm Lindeyer Francis Ferguson acts as Orchestras Live's financial managers. They have tailored an accountancy system to Orchestras Live's needs. enabling a high degree of clarity on the financial affairs of the charity. We engage the independent company Citation to provide HR and employment advice. FUTURE PLANS Orchestras Live's Business Plan for the period 2023124 to 2025126 sets the organisation on a path of growth - for the organisation, for our audiences and participants, and for the orchestral sector itself. Our three-year strategy will test and develop new ideas and ways of working, as well as extend our influence and leadership within the orchestral sector. We will strengthen and implement reglonal strategies to deep8n impact, engage wlth new people and explore new ways of creating. performing. and presenting orchestral experiences through: Delivering a programme of actlvity. co-produced with partners, providing high quality, Inclusive orchestral experiences involving a wide range of people In under- invested locations Working closely with existing and new Music Education Hub partners to meet the challenges of providing high quality orchestral experiences for children and young people throughout England Deepening our impact at community level, forging new partnerships in places where cultural investment has been low, but where civic ambition is high. We will support positive change In the orchestral sector through: Leading and engaging with debates and events that support positive change towards removing barriers and increasing access to high quality, live orchestral experiences Continulng to emphasise the equal value of performance and engagement work, both In terms of organisational and artistic priorities Advocating for the role of music in improving the population's health and wellbeing and championing community Co-creation. We will support our organisation's resilience and sustainability through: Implementing a new Business Innovation strategy, focused on the provislon of bespoke consultancy services for a range of external stakeholders Providing a working environment that supports staff wellbeing as well as personal and professional development. We will continue to embed and to promote best practice in carbon frlendly emissions policies through: Analysing data to set actions to reduce our operational carbon footprint Identifying tangible actions for progress in 2024125 through our Environmental Responsibility working group Continued consultation with partners aiming to understand the environmental impact of projects Using Creative Climate Tools (Julie's Bicycle) to conduct a full carbon calculation for one co-produced project. page 18
ORCHESTRAS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 We will continue to address inequalities of access and opportunity, both in the sector and in our own organisation, through: Ensuring open and transparent communications to support inclusive recruitment of new trustees and staff from under-represented groups Collecting and analysing data from participants. audiences, artists, stsff and Board to improve the experiences people have with Orchestras Live Advocating for positive chang8 for a more equitable and inclusive sector. PRINCIPAL RISKS AND UNCERTAINTIES The risks and uncertainties faced by Orchestras Live are reviewed on an ongoing basis by the trustees. In addition, the Finance Committee reviews the status of the financial risks at its quarterly meetings. and the full Board reviews the status of all the risks at each meeting. Scenario planning and a related programme of policies. actions and timelines is undertaken regularly. Risks- and the strategies in place for managing those rlsks- are assessed for their strategic, financial and operational impact over the next 12 months and in the longer term. The principal risks and uncertainties have been Identified as: Government-led economic polici8s destabilise our operating context, while cultural and education policies do not support creativity. These also impact on the abllity of our community-based partners to deliver the local producer role we rely on. Core-cost fundraising failing to meet our income projections, potentially reducing our reserves levels below the minimum set by the Board. Regarding maintenance of long-term funding from our major stakeholder. Arts Council England (ACE). the Board closely monitors performance and how we articulate the clos8 alignment of Orchestras Live's strategic priorities with ACE'S Investment Principles. Arts Council England has consistently rated Orchestras Live's risk to them as a grant-holder as 'minor' throughout the year. The risks associated with Orchestras Live's membership of the defined benefit local government pension scheme are primarily managed by fOard budgetary provision to accommodate the cash flow implications of addresslng any deficit. Members of the specialist pensions team at EY provide us with bespoke advice on all matters relating to our membership of th8 Essex Pension Scheme, Including provislon of assumptions to be used under FRS 102 reporting. FINANCIAL REVIEW Total incoming resources amounted to £1,134,424 (2022123: £857,389) and total resources expended were £1,114,138 {2022123: £999.190) so that there were net incoming resources before tax and other gainsllosses of £20,286 (2022123: net outgoing resources of £141,801). Total funds carried forward at the balance sheet date amounted to £618,273 (2022123 as restated: £635,681), divided into restricted funds of £26,697 (2022123: £52,454) and unrestricted (including designated) funds of £591,576 (2022123 as restated., £583,227), of which £311,622 (2022123: £339,419) is designated for use in partnership with specific investing partners. The FRS 102 report at 31 March 2024 identified a surplus in Orchestras Live's pension fund reserve which had previously been included as an asset on the balance sheet even though P8g8 19
ORCHESTRAS LAiy REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 the funds were not available to the charity. However, treatment of this surplus has been changed by the actuary and aligned with their interpretation of IFRIC14, incorporating an asset ceiling which leads to a nil value asset on the balance sheet. This aligns with Charity Commission guidance that any surplus or deficit in the pension fund should be excluded when calculating the charity's free reserves. To aid comparison with the prior year, the accounts for 2022123 have be8n restated as if an asset ceiling were incorporated for that year too. During the year, funds not required for short-term working capital purposes were held in deposit accounts with notice periods varying from instant access to 95 days. In June 2023, Hodge Bank withdrew its banking facilities for charities and the decision was taken to open new deposit accounts with a variety of institutions to provide improved protection under the FSCS. At 31 March 2024, funds were held with the following institutions.. CAF Bank Ltd, Cambridge & Counties Bank. Charity Bank, Hampshire Trust Bank. Hinckley & Rugby Buildlng Society, Redwood Bank and United Trust Bank. In addltlon, a deposit of £60,000 is lodged In escrow with Essex County Councll In respect of any pension deficit accrued by Orchestras Live. Orchestras Live has no property or materlal assets other than cash on deposit. Reserves Pollcy Orchestras Live is a reglstered charity and does not attempt to g8nerate profits. Th8 majority of Orchestras Live's income is raised through payments for services (charged to local authority and other promoter partners), through grants or contributions from Arts Council England and various Trusts and Foundations, and from consultancy and commissions. The majority of thls funding is received in advance of expenditure and the interest derlved from investment of these funds is a further source of income for Orchestras Live. However, OL is reliant on income streams over which it has limited control and therefore needs to ensure that its core operational costs can be covered for an appropriate period, should any of the income streams be unexpectedly reduced or delayed. As an ongoing policy, Orchestras Live will therefore aim to maintain unrestricted Reserve Funds sufficient to cover a minimum of the next three months, operational activity. (budgeted at £174,000 for 2024125), This figure varies from year to year, Is forward looking, and is calculated by dividing by four the total allocation to Overhead expenses in the approved budget for any given year. Free unrestricted funds (funds excluding restricted funds, designated funds and fixed assets) of £186,379 at 31 March 2024 (2023.. £197,274) met this policy objective. In additlon. the trustees continuously assess the risk relating to the financial context in which Orchestras Live operates and its potential impact on the organisation. They have identified the need to ensure that the charity can not only cover its operational expenditure for three months but can also carry out its charitable activities for the same period, while noting that Orchestras Live does not provide essential services to vulnerable beneficiaries. Trustees actively manage the finances of the charity: forecast figures are monitored and financial risks are reviewed formally on a quarterly basis to inform forward financial planning and ensure that a sufficient level of reserves is held. Trustees have considered Charity Commission guidance on charity reserves and building resilience (CC19- updated June 2023). page 20
ORCHESTRAS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Orchestras Live and its financial services provider Lindeyer Francis Ferguson continue to proactively manage income. expenditure and cash flow projections at a very detailed level. These are reviewed by the Board and the Finance Committee at least quarterly. Deslgnated Funds Unrestricted reserves may be classed as 'designated' for a specific purpose. for example for a major IT infrastructure project, the capital cost of which may be amortized over a number of years. Any designated funds are in addition to those required to cover three months, operational activity. Partnership Investments made to Orchestras Live by partners are payments for s8rvices and therefore unrestricted income. Orchestras Llve will designat8 a proportion of this income, whether from the current financial year or previous years, as Partnershlp Funds for US8 In specific local authority areas. Partnership Funds are in additlon to those required to cover three months, operational activity. Restrlcted Funds Funds provided to Orchestras Live as grants or charitable donations for a specific purpose are identified separately in the accounts. Care is taken to ensure that such funds are used only for the purpose for which they were provided. Penslon Fund At the balance sheet date, the pension fund VRS in surplus by £794,000 (2022123: surplus of £602,000). This valuation under FRS 102 was based on actual data at 31 March 2024. The r8suIt represents the charity's share of assets less liabilities within the Local Government Pension Scheme administered by the Essex Penslon Fund and is described In Note 19 to the financial statem8nts. The result is calculated using various actuarial estimates as set out in Note 19. These are based on underlying variables which are outslde the charity's control and which can fluctuate significantly. Any deficit is partially covered to the extent of £60,000 (2022123: £60,000) by an escrow bank account in the charity's name held by Essex County Councll. The Essex Pension Fund's next triennial review will take place at 31 March 2025, with revisions to employer contributions taking effect from 1 April 2026. Orchestras Live's trustees continue to give careful consideration to the implicatlons of employer contributions when calculatlng cash flows and setting the annual budget. Investments As part of their Financial Management service. Llndeyer Francis Ferguson (LFF) advises Orchestras Live on cash flow, enabling the maximisation of interest receivable on funds held. Socially Responsible Investlng Orchestras Live believes that a return on investment can be achieved in many ways and may not be purely financial. Trustees also note evolving Charity Commission guidance regarding the ESG risk profile of any investments. Therefore. should the policy of Orchestras Live change at any point in the future, leading to the making of investments in addition to cash deposits, trustees would seek to make reasonable efforts to consider environmental, social and governance factors in their decision making. including but not limited to- the identification of any organisations or individuals that have or facilitate a particularly negative impact on the environment (climate change, resource depletion, waste, page 21
ORCHESTRAS LAQfL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 pollution. deforestation). on society (human rights, modern slavery, child labour, worklng conditions, employee relations)., or low standards of governance (bribery and corruption, executive pay, board diversity and structure. political lobbying and donations, tax strategy). From the perspective of impact investing, it is also acknowledged that contemporary principles of stewardship and engagement may be preferable to avoidance in many cases. trustees will therefore consider whether there is potential for influence to effect positive change in a company, thereby realising a positive ESG impact. It is noted that the Essex Penslon Fund is a discrete entity and its funds are run vla a discretionary mandate. Trustees have considered Charity Commission guidance on charities and investment matters (CC14 updated August 2023). Potential alternative investment opportunities available to charities are sought and reviewed by the Finance Committee In July each year. A formal revlew of the Policy on Reserves and Investments is undertaken by trustees at least annually. Remuneratlon Pollcy Durlng the year. Remuneration Commlttee reviewed the Remuneratlon Policy for 2024125, The Policy adopts a banded approach, weighed against industry benchmarks, to ensure a fair and anonymised system providing flexibility alongside cost control with regard to remuneration and holiday entitlement. The bandings are reviewed annually by Remuneration Committee to ensure continuation of an even distributlon. These bands wlll be utilised by the Committee when awarding annual increments. thus enabling differentiation within the workforce without breaking down decisions to an individual lev81. Orchestras Live Is an accredited Real Living Wage employer. The remuneratlon of the CEO is determined by trustees by giving due consideratlon to market rates in the sector, performance and affordability. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The charity is controlled by its governing document, a deed of trust, and constitutes a Ilmlted company, limited by guarantee, as defined by the Companies Act 2006. Governance Orchestras Live is governed by a skilled, committed and diverse Board. currently made up of 11 trustees. The Board has a strong track record of robust governance and self- assessment, and since 2016 has operated a rolling public trustee recruitment programme. The Board is committed to recruiting trustees with a broad range of skills. expertise and lived experience. In 2022 we reviewed our processes to establish an inclusive, open recruitment process that would support applications from Black, Asian. and ethnically diverse, Dldeaf and disabled candidates as they are currently under-represented on our Board. Four trustees retired in 2023124, having served their full term. Two new trustees were appointed during the year, with further trustee recruitment taking place in 2024125. A full Trustee Skills Audit is undertaken prior to Irustee recruitment to identify gaps, review diversity and inform our recruitment process. We ensure that each potential trustee understands the charity's expectations of them and a comprehensive schedule outlines the page 22
ORCHESTRAS LVL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Induction process, both leading up to and after the formal appointment. We offer access support for people who face barriers to inclusion, meeting in accessible venues, being flexible in scheduling meetings at different times of day and covering travel expenses. The Board meets at least four times a year, including an annual strategy discussion and a board development session. Induction is provided for new trustees and training opportunities are offered to those who are new to trusteeship. Additional training is also provided to reinforce understanding and skills relating to topical strategic issues such as the environment and diversity and inclusion. Trustees are actively involved In strategic, financial and business planning with dedicated Finance, Diversity Inclusivity & Re18vance and Remuneration Committees. Since 2021 these have been augmented by working groups {trustees and staffj focused on Environmental Responsibility, Ambition & Quality, and Dynamism. In addition to ongoing financial monitoring and regular review of the risk register, trustees monitor performance vla a quarterly Dashboard. Informed by data captured and managed on a bespoke IT system. Trustees have a dedicated section on OL'S Intranet; through a secure. bespoke online login, trustees can access all gov@rnance, financial and monitoring information at any time, as part of an entirely paper-free governance process. The Board is committed to driving Orchestras Live's work to make a more equitable orchestral sector and to ensuring that the organisation's governance and internal systems cement an Inclusive approach across all our processes. The Board is also committed to understanding the organisation's environmental impact and to ensure that future plans Incorporate actions to mitigate that impact. Withln approved pollcles, buslness and financial plans, the trustees have agreed to delegate routine items to the staff team, led by the Chief Executive and Company Secretary. The trustees held an open tender to appoint independent auditors for the 2022123 audlt. Following rigorous scrutiny of the applications received, DJH Mitten Clarke were appolnted for an initial three-year period. Dr Tony Stoller CBE is Chair of the Board. We are in the process of recruiting his successor as he will have completed two 3-year terms in November 2024. Helen Harrison is Vice- Chair and Chair of the Finance Committee, which meets quarterly. Jo Towler is Chair of the Diversity, Inclusivity and Relevance Committee which meets quarterly. The Remuneration Committee meets as required and is chaired by Matt Littlewood. The trustees have reviewed their governance policies and practice against the Charity Governance Code for smaller charities (updated 2020) and are satisfied that they are following its guidance. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparlng the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable page 23
ORCHESTRAS LAiKfL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 company for that period. In preparing those financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the flnancial statements comply with the Companies Act 2006. They are also responslble for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregulariti8S. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the trustees are aware, there is no relevant information of which the charitable company's auditors are unaware. Additionally, the trustees have taken all the necessary steps that they ought to have taken as trustees in order to make themselves awar8 of all relevant audit information and to establish that the charitable company's auditors are aware of that Information. This report has been prepared in accordance with the provisions applicab18 to companies 8ntitled to the small companies exemption. ON BEHALF OF THE BOARD: N H Buchanan- Company Secretary Date.. 3 0(kvkn 2oZLtr page 24
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ORCHESTRAS LIVE Opinion We have audited the financial statements of Orchestras Live the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of inancial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial re orting framework that has been applied in their preparation is applicable law and United ingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 The Financial Reporting Standard applicable sn the UK and Republic of Ireland,. In our opinion the financial statements". give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdorn Generall Accepted AGGounting Practice, including Financial Re orting Standard 102 Financial Reporting Standard applicable in the UK and Republic of Ireland and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast si nificant doubt on the charitable company's ability to continue as a going concern for a perio of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report, including the trustees, report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial staternents does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. page 25
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ORCHESTRAS LIVE Opinion on other matters prescribed by the Companies Act 2006. In our opinion, based on the work undertaken in the course of the audit: the information iven in the Trustees. Annual Report, which includes the Directors, Report preparegfor the purposes of company law. for the financial year for which the financial statements are prepared is consistent with the financial statements. The Trustees, Annual Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowled e and understanding of the charitable company and its environment oblained in the course of t e audit, we have not identified material misstatements in the Trustees, Annual. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you, if our opinion: adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records ad returns; or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, Annual Report. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to Issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assuran, but is not a guarantee that an audit conducted In accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irre9ularities, includin fraud, are instances of non-compliance wth laws and regulations. We design procedures In ine with our responsibilities. outlined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below- In preparation for our audit we identified areas of laws and regulations which we considered could have a material effect on the financial statements. This information was obtained via discussions with management and from our general commercial and sector experience. The directors also provide us with written representation of all the key and fundamental industry specific laws and regulations with they are required to adhere to. These were then communicated to the whole of the audit team at our audit planning meeting. page 26
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ORCHESTRAS LIVE As a charitable company, non-complianGe with the Charities Act 2011, Companies Act 2006 and the conditions of government and non-government grant funding were assessed to be most relevant. Our audit procedures to respond to these risks included". Enquiries with management. Inspection of board minutes, legal invoices and other correspondence" Challenging of management assumptions and judgements in relation to accounting estimates. Review of journals entered throughout the year. Substantive transaction testing. pro Auditing tan ere are always inherent limitations that non-compliance is not detected. Non-compliance with laws and regulations is often further removed from the events and transactions reflected in the financial statements and material misstatements due to fraud can be deliberately concealed from auditors. for example through misrepresentation, forgery or collusion. riate A further descri tion of our responsibilities for the audit of the financial statements is located on the FinanciaFReporting Council's website at ww.frc.org.uklauditorsresponsibilsties. This description forms part of our Report of the Independent Auditors. Use of our report This report is rnade solely to the charitable company's trustees, as a body, in acGordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not acce t or assume any responsibility to anyone other than the charitable company and the charitab e company's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Christopher Abbott FCA, Senior Statutory Auditor For and on behalf of DJH Audit Limited, Statutory Auditor St George's House 56 Peter Street Manchester M2 3NQ page 27
ORCHESTRAS LIVE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THEYEAR ENDED 31 MARCH 2024 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2023 Total funds As restated Notes INCOME FROM: Grants, donations and legacies 750,114 118,620 868,734 633,452 Charltable activities 210.136 210,136 215,993 Investments 55.554 55,554 7,944 Total income 1.015.804 118,620 1,134,424 857.389 EXPENDITURE ON: Raising funds 70.642 70,642 70,127 Charilable 8cllvllSes 899.119 144,377 1,043,498 929,063 Total expendlture 969.781 144,377 1,114,138 999,190 NET INCOME I (EXPENDITURE) BEFORE TAX 46,043 (25,757) 20,286 (141,801) Corporatlon tax crodtt 10 10.306 10,306 25.550 NET INCOME I {EXPENDITUREI 56.349 (25,757) 30,592 (118.251) Transfers between funds 14 Nel Incomlng I loutgolng) resources before other recognlsed galns and losses 56,349 (25,7571 30.592 { 116,251) Other recognlsed galng and losses Actuarial (losses) I gains l on defined benefit pension schemes 19 { 48,000) (48,000) 129,000 Net movement In funds 8,349 (25,757) (17,408) 12.749 Total funds brought fOard.. As origin811y stated Prior period adjustrnent 1.185.227 { 602.000) 52.454 1,237,881 { 602,000) 622,932 As restaled 583,227 52.454 635,681 622,932 Total funds carrled fOard 14 591,576 26,697 618,273 635,681 page 28
ORCHESTRAS LIVE BALANCE SHEET AS AT 31 MARCH 2024 2024 2024 2023 2023 As r8Stated As r6stated Notes Flxad assets Tangible assets 11 Current assets Debtors: falling due wilhln one year Debtors.. falling due after more than one year Cash on deposit.. more than three months Cash on deposit.. less than three months Cash at bank and In hand 12 12 72.173 60,000 240.003 378.151 23,144 178.178 60,000 624,799 17,555 773.471 880,532 Llabilitlas Creditors- amounts falling due within one year 13 (155.198) { 244,851) Net current assots 618,273 635,881 Not assots excludlng pènslon scheme 618,273 635,681 Defined benefil pension scheme liability Total net assets 618,273 635,681 The funds of tho charlty Unrestricted funds Pension reserve R8Stricted funds 591.576 583,227 26.697 52,454 Total charity funds 14 618,273 635,681 The financial statements were approved by the Board of Truslees on on its behalf by: o.Seo.knW 2vl. and were signed T Sloller- Truste H Harrison - Trustee Company number: 5988211 page 29
ORCHESTRAS LIVE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2024 2023 2023 Notes Cash flows from operatlng actlvltles: Net cash used in operating activities {49,136) (88,860) Cash flows from Investing actlvltles: Interest received Cash placed on deposit for more than three months 48,080 (240,003) 6,670 Net cash provided by Investing activitles (191,923) 6,870 Change In cash and cash equivalents In th• year (241,059 (82,190) Cash and cash equival8nts at the beglnning of the year 642.354 724,544 Cash and cash equlvalents at the end of the year 401.295 642,354 Represented by: Cash al bank and in hand Cash on deposit., less than three months 23,144 378,151 17,555 624,799 401,295 642,354 A. Reconclllatlon of not oxpenditure to net cash flow from operatlng actlvlllos Net (expenditure) l income for the year As per the Slalement of Financial Activities 30,592 { 116,251) Adjustments for.. Interest receivable Defined benefit pension scheme - finance cost Defined benefit penslon scheme - service cost (Increase) in debtors Increase in creditors { 55.554) { 31.000) (17.000) 113.479 (89,653) (7,944) 1,000 62,000 { 130,327) 102.662 (79,728) 27,391 Net cash used in operating activities (49,136) (88.860) page 30
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 1 ACCOUNTING POLICIES The prlnclpal accounting policles adopted. judgements and key SoUrS of estimatlon uncertainty in the preparation of the financial statements are as follows: Basls of preparatlon The financlal statements hav8 been prepared in accordance with "Accounting and Reporting by Charlties.. Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Fin8nclal Reporling Standard applicable in the UK and Republic of Ireland (FRS 102). (effective 1 January 20191- {Charilies SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Ihe Companies Act 2006. Orchestras Liva meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognlsed al historical cost or transaction value unless otherwse slated in tha relevant accounting policy note(s). There are no materlal uncertainties about the charitys ability to conlinue, and so the going concern basls of accounting has been adopted. The flnancial slatemenls are presented in pounds sterling and rounded to the nearest pound. Income Income from donations and grants is recognlsed when the charity Is entitled lo the funds, the recelpt Is probable and the amount can be measured reliably. For donations, this 15 usually on receipt. For grants, this is usually when a formal offer is made in writing. unless the grant contains lerms and conditions outslde of the charily's control whlch musl b8 met before the charity is entitled lo tha funds. Where grants are received in response to a proposal including a budgeted timescale. such that the timescale for the expenditure 15 implSclt In the grant agr8ement. the income is recognised in accordance with that timescale. Income from charitable activities is recognised over the period to which the income relates, Partnershlp investments are usually invoiced for a period coinciding with th8 charity's accounllng year. Where partnership investments are invoiced In advance, the income is deferred. Promoter and other parlner contributions are invoiced for specific events and are recognised when the event takes place. The Trustees consider that the charity has one charitable activily as described In the Trustees, Report. Investment income is recognised when recelvable. Interest is accounted for as accrued income where is it due but has not yet been credited. Contributions In kind relate to resources and venue hire donated for specific purposes or prolects and are recogni58d wlthin both incomlng resources and resources expend8d. Contributions in klnd are recognised when th8 charity has control over the items. any conditions associated with them have been met. Ihe recelpt of economic benefit is probable and the amount can be measured reliably. The donations are valued on the basis of the market value of the resources and venue hire received. page 31
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 ACCOUNTING POLICIES contlnuad Expenditure Expenditure Is recognised when a present legal or constructNe obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be requir8d to settle the obligation, and the amount can be estimaled reliably. Expenditure has been classified under headings that aggregate all costs related to the category.. (i) Expenditure on ralslng funds includes an allocation of the staff costs of the charity's funding development staff and the a5soclaled travel and subsistence expenses. (11> Expenditure on chaTllable activities includ85 the cost of projects funded dlreclly and projects funded by way of grants to organisatlons, the staff costs of th8 production team and an allocation of the staff costs of the Chief Execulive Officer. Support costs relat&d lo the charltable activitias are included. Staff costs have been allocated to expenditure headlngs on the basis of an estlmate of the amount of tlme spent by staff members in each area. Support costs have been allocated to the single material activity undertaken by the charity. Support costs are those functions that assist the work of the charity but do nol directly relale to the charitable activities, and include governance costs. Taxatlon The charity is exempt from corporation t8x on its charitable aclivities. It is able to claim Orchestra Tax Relief for quallfying projecls. Fund accountlng Unrestrlcled funds can be used In accordance 1th the charitab18 objectives at th8 discretion of the Trustees. Deslgnated funds ar8 unrestrlcted funds which ar8 set aside by the Truslees for specific purposes. Restricted funds can only be used for the particular restricted purposes wthin the objects of the charfty. Reslriclions arise when specified by the donor or when funds are raised for particular restricted purposes. Tanglblo flxod assets and depreclation Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculat8d to write off the cost less estimaled realisable value of eaGh asset over ils expected useful life, as follows.. Office equipment: Fully depreciated Assets costing less than £1.000 are not capitalised. Debtors Trade and oth&r debtors are recognised at the settlement amount due. PrepanentS are recognlsed al th8 invoiced cost prepaid. Cash at bank and in hand Cash and bank and in hand includes cash on instant-access current a¢Unt and in hand. P8g8 32
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 ACCOUNTING POLICIES contlnued Cash on deposlt Cash on deposit includes cash in deposit or savings accounts and on accounts requiring notice before wlthdrawals can be made.cash on deposit with an Initial term or notice period of greater than three months does not form part of cash and cash equivalents. Creditors Creditors are recognised when a present legal or conslwctive obligalion exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and th& amount can be estlmated reliably. Creditors are recognised at the settlement amount. Flnan¢lal Instrumenls The charity only has financial Instruments of a klnd that qualify as basic financial instruments. Short term basic flnancial instruments are initially recognised at transaction value and subsequently measured at Iheir settlement value. Pension8 The charity operates a defined beneflt pension scheme for pemianent employees administered by Essex County Council which is part of the Local Gov8mment Pension Scheme (LGPS). Contributions payable to empbyees. pension schemes are recognised in the Statement of FinanGial Actlvllles in the year they are payable. The LGPS is a funded scheme and the assets are held separately from those.of the charity in separat8 trustee- administered funds. Pension scheme assets are measured at fair value and Ilabilities are measured on an actuarial basis using the projected unit credit method and dlscounted at a rate equivalenl to the curr8nt rate of return on a high quality corporale bond of equivalent term and currency lo the liabilities. The actuarial valuations are obtained al least triennially and are updated at each balance sheet date. The amounts charged to the Statement of Financial Activities are the current service costs and the costs of scheme introductions, benefit changes, Settlements and curtailments. They are included as part of staff costs whgn they are incurred. Net inlerest on the net defined benefit liability Is also recognlsed in the Statement of Financial Activities and comprises Ihe interest cost on the defined beneflt obligation and inlerest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of Ihe period by the rale used to discount the benefit obligations. The difference between the interesl income on the 5chem8 assets and the actual return on the scheme assets is recognis8d in other recognised gains and losses. Acluarial gains and losses are recognised immediately in other recognised gains and losses. When the pension scheme is in a surplus position the present value of the economic benefil. commonly referred to as the asset ceiling is reduced to nil on the basis that it is considered to be highly unlikely that the charity will be able to recover the surplus through reduced conlribution in the future or through refunds. Status Orchestras Live is a charitable company limrted by guarantee incorporated In England and Wales. In the event of the company being wound up. the liability in respect of Ihe guarantee is limited to £1 per member of the Gharlty. The address of the registered office is Duke Studios, 3 Sheaf Street. Leeds LS10 1 HD. page 33
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2 INCOME FROM GRANTS. DONATIONS AND LEGACIES 2024 2023 Arts Council England National Portfolio grant Charitabl8 foundallons and olher donations: The Academy M8dia Ltd Age Exchange The Austin and Hope Pilkington Trust The B O Davles Chariiable Trust The Belstead Gazonl Charilable Trust Borough Council of King's Lynn and West Norfolk Catherine Cookson Charitable Trust Chapman Charitable Trust Chivers Trust Create Yarmouth Creatlve Darlington The D'oyly Carte Charitable Trust D8rbyshire County Council Esmée Fairbairn Foundation Essex County Councll Arts and Cultural Fund Fowler Smith and Jones Trust Garfleld Weston Foundation Gillian Dickinson Trust Hays Travel Foundatlon Hull and East Riding Charltsble Trust Th8 Joicey Trust The Joseph and Annie Cattle Trust The Leche Trusl Leeds Conservatoire The Michael Cornish Charitable Trust Mid Suffolk District Council Norfolk County Council North Norfolk Dlstricl Council North Yorkshire Music Hub {NYMAZ) Ovlngdean Hall Foundation The Radcliffe Trust Redcar Rotary Club The Scops Arts Trust The Sir James Knott Trust The Thistle Trust The Three Monkies Trust Indlvidual donations Projacl and conference contributions In kind 689,314 487,950 800 3,575 1,000 500 1,000 4,250 500 4,250 1,000 2,000 1,500 2,000 2,000 3,000 19,166 30,000 12,000 36,000 2,000 30,000 30,000 10,000 3,000 2,500 2,000 5,000 3,000 1.500 33,700 1,000 2,000 1,500 7,600 7,307 2.500 5,000 300 15,000 15,000 5,000 2,000 5,000 122 7,200 1,152 868,734 633,452 The comparalive figure includes restricted income of £76.502. pag8 34
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 3 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Partnership investments ConsultanGy, commission and other income 206,986 3,150 210,944 5,049 210,136 215,993 4 INCOME FROM INVESTMENTS 2024 2023 Essex Pension Fund bond interest Deposit account interest CAF Bank and other interest Defined benefit pension finance income - see Nole 20 4,030 17,893 2,631 31,000 1,274 5,771 899 55.554 7.944 S EXPENDITURE ON RAISING FUNDS 2024 2023 Staff costs Other fundralslng costs 69,578 1,064 68.465 1.662 70,642 70,127 page 35
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 6 EXPENDITURE ON CHARITABLE ACTIVITIES 2024 2023 Activity costs funded directly ActSvily costs funded by grants Creative digital producer cosis Project costs in kind Direct costs of consultancy services Staff costs Allocation of support costs (note 7) 153,649 323,715 84,655 274.196 17,780 1,152 1,280 228,326 321.674 7,200 8,000 243,692 307,240 1,043,496 929,063 Activities funded directly relate to those events for whSch Orchestras Live is the creativ& producer or co- producer. Orchestras Live works in partnership with local authorities (g grantees totalling £162,920 (2023: 11 grantees totalllng £126,933)), music education hubs and other not for profit partners (16 grantees tot811ing £136,325 (2023., 16 grantees totalling £147,263)) to deliver its charitable activities. To enable high quality, live orchestral muslc to take place in under-served parts of England. Orchestras Live provides grants to these partner organlsalions to support the costs of d81ivering activily. Grants are made only to organisations working in partnership wth Orchestras Live, collaboraling closely to ensure th8 activity delivers Orchestras Live's objectives. Individually material grant recipients were East Riding of Yorkshlre Council (total £60,294) and Vlva Chamb8r Orchestra (total £37,552) (2023: LeicestershSre County Councll (total £34,800)). The comparative figure Includes expenditure from restricled funds of £72,570. pag6 36
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 7 SUPPORT COSTS 2024 2023 Staff costs Staff recruitment Defined benefit pension finance cost- see Nota 20 Workforce development Trainlng and conferences Premises Costs Insurance PR and communications IT and computer costs Printing and stationery Postag& and telecommunications Travelllng and subslstence Accountancy fees and payroll Professional consultancy fees Legal and professional fees Bank charges Miscellaneous expenses Governance costs: Trustees. expenses for attending meetings Trustee board development Auditors, remuneration for audit seNices FRS 102 report and acluarlal valualion costs 19g,883 2.657 225.734 295 1.000 6,199 2,438 11,530 867 5,407 4.296 27 651 14.266 27,080 8.350 892 65 1,691 1.149 2,853 13,623 908 5,670 5,530 1.069 24,820 30,430 4,141 80 2,612 2.142 448 7,175 2.065 2,236 125 6,475 2,050 307,240 321,674 8 NET INCOME I (EXPENDITURE) 2024 2023 Net expenditure is slated after charging: Audilors, remuneration for audit Services 7,175 6,475 page 37
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 9 STAFF COSTS 2024 2023 Gross salaries National Insurance conlrlbutions Penslon contributions Defined ben8fil pension service cost- see Note 19 Pension scheme administralion 404.539 35.102 88,976 { 17,000) 1.536 340,549 30,559 87,864 62,000 1,553 513,153 522,525 Penslon Contributions relate wholly to defined benefit schemes. At the y8ar end accrued employer contributlons were £1,337 {2023', £1,257). The average number of employees was thirteen (2023.. eleven). One employee recelved employment benefits (excluding employer pension contributions) in the range £80,00110 £90,000 in the year {2023: one employee). During the year eleven employees accrued b8neflts uniler a defined benefit scheme and three accrued beneflts under a deflned contribution scheme. 10 TAXATION 2024 2023 Orchestra and Film Tax relief - repayable credit 10,306 25,550 11 TANGIBLE FIXED ASSETS Fixlures, fittings and equlpment Tol81 Cost Brought forward at 1 April 2023 2,830 2,630 Carried foward at 31 March 2024 2.630 2,630 Depreclation Brought forward at 1 April 2023 2,630 2.830 Carried forward al 31 March 2024 2,630 2,630 N•t book value At 31 March 2024 At 31 March 2023 page 38
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12 DEBTORS 2024 2023 Amounts lalling due within one year.. Trade debtors Tax recoverable Olher debtors, prepayments and accrued income 46.241 10,306 15,626 148,638 25,550 3,990 72,173 178,178 Amounts falling due after more than one year.. Essex Pension Fund bond 80.000 60,000 13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade credltors Other tax and social security Accruals Deferred income 4,155 9.708 100.335 41,000 9,809 26,581 144,154 64.307 155,198 244,851 Deferred income comprises.. Income deferred from the prevSous year Released to the statement of financial activities Arlslng during the current year.. Amounts invoiced in advance Grants required to be spent in future periods 64,307 (64,307) 23.373 (23,373) 41,000 54,307 10.000 41,000 64,307 pag8 39
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14 MOVEMENT IN FUNDS- CURRENTYEAR At l Apnl 2023 as restated Net movement in funds Transfgrs between funds At31 March 2024 Unrastrict•d funds General Fund Designated Funds: Communlty Impact Co-ordinator Fund Partnership Fund Programme Fund Projects Fund Consultancy & Commission Direct Activities 197,274 (501.153) 490,258 186,379 34.000 (205.921) (654.665) 330,228 7,885 (1,785) 34,000 311,822 33.500 26,075 339,419 178,124 688,165 (350,687) (7,885) 1,785 46.534 583,227 8,349 591,576 Pension reserve 583.227 8,349 591,576 R6strlcted funds Scops Arts Trust Leeds Con8ervaloir6 King's Lynn and West Norfolk BC Gillian Dickinson Trust The Radcliffe Trust The Three Monkies Trust Projects 10.000 31,021 4.250 10,000 (31,021) 4,250 8,500 4,500 1,197 (4.683) 4,500 1,197 2.500 7.183 52,454 (25.757) 26,697 TOTAL FUNDS 635,681 (17.408) 618,273 In the prlor period. the deficit on the pension reserve was partly covered by ihe bond held wtth the Ess8X Pension Fund- see Note 12. pag8 40
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14 MOVEMENT IN FUNDS- CURRENT YEAR continued Net movement in funds. included in the above. are as follows: Other recognised R8sources gains / expended losses & tax Movement before Iransfers Incomlng resources Unrestrlcted funds General Fund Deslgnated Funds: Partnershlp Fund Programme Fund Projects Fund Consultancy & Commlsslon Direct Activitles Pension reserve 114.216 { 625,675) 10,306 { 501,153) 178,124 689,314 178,124 688,165 (350,887) (7,885) 1,785 { 1,149) (350.687) { 8,000) (1,250) 17.000 115 3,035 31.000 { 48,000) 1.015,804 (969,761) { 37,694) 8.349 Roslrlcted fund8 Scops Arts Trust Leeds Conservatoir8 King's Lynn and West Norfolk BC Gillian Dickinson Trust The Radcliffe Trusl The Three Monkies Trust Projects 15,000 7,200 4.250 10.000 5.000 5.000 72.170 (15,000) (38,221) (31,021) 4,250 (10,000) (500) (3,803) { 76,853) 4,500 1,197 (4,683) 118,620 { 144,377) { 25,757) TOTAL FUNDS 1,134,424 (1.114.138) (37,694) { 17.4081 The purpose and planned use of the material designated funds is as fdlows: Partnershlp Fund The Partnership Fund Includes involced partnership investments which are set aside by Trust8es for activity involving those partners. Allocations from Ihis fund are made to the Project5 Fund when events are planned. Balances wlh pathers which have not moved for Iwo years or more are kept under review and may be released if further activity with that partner is unlikely. Programmo Fund The Programme Fund receives the Arts Council England National Portfolio grant, and transf8rs are made both to the General Fund to cover staff and overhead costs. and to the Projects Fund lo support events. paga 41
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14 MOVEMENT IN FUNDS - CURRENT YEAR continued Projects Fund The Projects Fund is used to track income and expenditure for individual events. It includes invoiced promoter and oth8r pather contributions to specific events. as well as allocations from the Partnership Fund and Programme Fund. and event expenditure is paid out. The year end balance comprises funding allocated to events which will take place in the ensuing financial year. Projects which are funded by restricted granls and donations are dealt with as separate restricted funds. The restricted funds arise from grants and donations to fund particular projects or it8ms of expendllure. and unused income is carried forward to cover future expendlture on those areas. Details of restricted funds actlve durlng the year are as follows: Scops Arts Trust This fund conlains a sing18 year grant supporting Classlcally Yours, project development in the North and our Region81 Producer- North post. Leeds Conservatolr• Thls fund contains a grant from Leeds Conservatoire to support the 2023 New Connections Knowledge Exchange Project, part of a three-year partnership to enhance Conservatoire students. skills training with early career experlence in orchestral community muslc making. Klng s Lynn and West Norfolk BC This fund is part of a three-year Service Level Agreement been Orchestras Live and the Borough Council which supports our co-production work for Ihe benefit of people in West Norfolk. Gllllan Dlcklnson Trust This fund contsins a grant supporting our activity in Darlington giving children and young people excitlng opportunSlles to collaborate and p8rform with professional orchestras. The Radcllffe Trust This fund contains a grant towards an intergenerational, participalory music making and performance project In Sudbury. Suffolk, engaging adults with additional needs, and older people including those living with dementla. The Three Monkles Trust Thls fund conlalns a grant towards our programme of activity engaging children and young people In th8 East Riding of Yorkshire through co-creative and performance opportunities with professional orchestras. Project Funds These funds contain grants and donations contributed towards speclflc proj8cts. pag8 42
ORCHESTRAS LNE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15 MOVEMENT IN FUNDS - PRIOR YEAR AS RESTATED Net n70vement in funds Transfers belween funds At 1 Apn'l 2022 At31 March 2023 Unrestricted funds General Fund Deslgnated Funds.. PR & Communications Partnership Fund Programme Fund Projects Fund Consultancy & Commission Direct Aclivities 223.373 (396.850) 370.751 197,274 1,505 355,887 14,980 44,665 (1,505) (197.860) (488.364) 319,236 (2,991) 733 181,392 473,384 (317,367) 2.991 (733) 339,419 46,534 640,410 (57,183) 583,227 Pension reserve (66.000) 66.000 574,410 8,817 583,227 Rostrlctod funds Arts Councll Create Space NLP Scops Art Trust Leeds Conseryatoire Weston Culture Fund King's Lynn and West Norfolk BC Projects 19,091 { 19,091) 10.000 31,021 (29,431) 4.250 7.183 10,000 31.021 29,431 4,250 7.183 48,522 3,932 52.454 TOTAL FUNDS 622.932 12,749 635,681 page 43
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15 MOVEMENT IN FUNDS - PRIOR YEAR conllnued Net movemenl in funds. included in th8 above. are as follows: Olher recognised gains / losses Movement before transf&rs Incoming resources Resources expended Unrestrloted funds General Fund Designat8d Funds: Partnership Fund Programme Fund Projects Fund Consullancy & Commission Direct Activities Pension reserve 106,496 { 528.896) 25,550 (396,850) 181.392 487.950 181,392 473,384 (317,367) 2.991 (733) 66,000 (14,566) (317,367) (1,280) (1,511) (63,000) 4.271 778 129.000 780,887 (926,e20) 154.550 8.817 Restrlcted funds Arts Council Create Space NLP Scops Art Trust Leeds Conservatoire Weston Culture Fund King's Lynn and Wesl Norfolk BC Projects { 19.091) (5,000) (2,679) (29.431) (19,091) 10,000 31,021 (29,431} 4,250 7,183 15,000 33.700 4.250 23.552 (16,3691 76,502 (72,570) 3,932 TOTAL FUNDS 857,389 { 999.190) 154,550 12,749 Details of designat8d and restricted funds are as shown in Note 14. 16 ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrestricted funds Restricted funds Total funds Fund balances at 31 March 2024 are represented by: Tangible flxed ass&ts Net Current assets Defined benefit pension scheme provision 591.576 26,697 618,273 591,576 26,697 618,273 page 44
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17 ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR YEAR Unrestricted funds Restricted funds Total funds Fund balances at 31 March 2023 are represented by: Tangible flxed assels Net current assets Defined beneflt pension scheme provision 583,227 52,454 635,681 583,227 52,454 635,681 18 RELATED PARTY TRANSACTIONS The Board of Trustees and the Chief Executive Officer are considered to be th8 charlty's key management personnel. There were no Trustees, remuneration or other benefits during the current or prlor period. Trustees were reimbursed expenses of £1,906 (2023: £1.741), in respect of thirteen (2023: eleven) Trustees for travel and subsistence costs. In addition. conference atl6ndance, trainSng. venue hire and m8eting refreshmenl costs amounting to £236 (2023: £520) were met by Ihe charity on behalf of the Board of Trust@es. During the year. an amount of £500 (2023: £Nil) was paid to one Trustee In respect of consultancy services provided under a contract for services. The total amount of employee benefi'ls (including employer's pension conlrlbutionsl CeiVed by key management personnel during the year was £101.628 (2023: £100,056). page 45
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19 PENSION OBLIGATIONS Durlng the year. all of the charivs pennan8nt empEoyees were members of a defined benefit pension sch8me which is part of the Local Government Penslon Scheme (LGPS). administered by Essex County Councll. The pension costs are assessed in accordance with advice from independent qualified actuaries. The last acluarial valuation of the LGPS was 31 March 2022 and the next is due on 31 March 2025. The LGPS is a funded defined b&nefit sch&me. with th8 assets held in separate trustee-adminlstered funds, The tolal contributions paid for the year ended 31 March 2024 were £112,426 (2023.. £112,915), of whlch employer's contributions were £87,72212023: £87,851) and 8mployees' contributions were £24,704 (2023: £25,064). The agreed contribution rates for future years are 23.2010 for 2024125 plus £6.250. At 31 March Al 31 March 2Q24 2023 Princlpal actuarial assumptlons: Salary increases Pension Increase5 {CPI) Discount rate 2.950 2,95°/0 2.80¥ The current mortality assumptions include sufficient allovRnce for future improvements in mortality rates. The assumed life expeclations on retirement at ag8 65 are: At 31 March At 31 March 2024 2023 Years Years Retiring today Males Females 20.80 23.30 21.10 23.50 Relirlng in 20 years Males Females 22.00 24.70 22.30 25.00 page 46
ORCHESTRAS LIVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19 PENSION OBLIGATIONS contlnued The charity's share of the assets and liabilities of the scheme, and the expected rale5 of return, were., Fair value at Fair valu8 8t 31 March 31 March 2024 2023 As restated Equlties Gilts Property Cash I temporary investments Alternative assets Other managed funds 1.200.000 39,000 149,000 53,000 329,000 395,000 1,061,000 27,000 151,000 59,000 291,000 252,000 Total market value of assets 2,165,000 1,841,000 Present value of scheme liabilities - funded Impact of asset ceiling (1,371,000) (1.239,000) (794,000) (602.000) Net defined benefit asset The expected retum on plan's assets is based on the long-term future expected Investment return for each assel class as at Ihe beginning of the period. The retums on gills and other bonds are assumed to be the gilt yield and corporate bond yield (with an adju51menl to reflect default risk) respectively at the relevant date. Tha returns on equities and property are then assumed to be a margin above gill yields. Amounts rocognlsed In the Stslement of Flnanclal Actlvltles: 2024 2023 Current service cost (net of employee contributions) Net interest {credit) I cosl Admlnistration expenses 70,000 (31,000) 1,000 149,000 1,000 1,000 Total operating charge 40,000 151,000 page 47
ORCHESTRAS LWE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19 PENSION OBLIGATIONS conttnued Movemenls In the present value of defined benefit obllgations were as follows: 2024 2023 At 1 April 2023 Current service cost Interest cost Change In financial assumptions Change in demographic assumptions Experience gain on defined benefit obligation Beneflts paid net of transfers in Past servlce costs, including curtailments Employee contribulions 1.239,000 70,000 60.000 8.000 (17,000) 5.000 { 19,000) 1,802,000 149,000 47,000 (778,000) (36,0001 47,000 { 17,000) 25,000 25,000 Al 31 March 2024 1,371,000 1.239,000 Movements In the falr value of the charlty's share of the scheme assets were: 2024 2023 At 1 Aprll 2023 Interest income Return on assets less interest Other actuarial gains l (losses) Administration expenses Employer contributions Employee conlribullons Benefits paid net of transfers In 1,841.000 91,000 140.000 1.736,000 46,000 (40,000) 4,000 (1,000) 88,000 25,000 { 17.000) { 1,000) 88,000 25,000 (19,000) At 31 March 2024 2,165,000 1,841,000 Actual return on scheme assets 231,000 6,000 The estimated value of employer contrlbutions for the year ending 31 March 2025 Is £87,000. 20 PRIOR PERIOD ADJUSTMENT A change in accounting policy has been applied to the financial statements to reflect the application of the asset ceiling in respect of the benefit pension scheme whtch was in a surplus position at current and prior Period balance sheet dates. The trustees consider that this presents a more tw8 and fair view. This has resulted in a reslatement In the prior period to reduce the 8Ctuarial galn by £602.000 with a corresponding reduction of the defined benefit pension scheme assel from £602,000 to £NII. The adjustment reduced deslgnated funds in the prior period by £602,000. page 48