## **THE COBWEB ORCHESTRA** (A company limited by guarantee) Report and Financial Statements Year ended 31[st] March 2021 Charity number: 1118758 Company number: 6057812 Annual return 2020-21 The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 1 ## **THE COBWEB ORCHESTRA** ## **Report of the trustees for the year ended 31[st] March 2021** The trustees are pleased to present their report together with the financial statements of the charity for the year ending 31[st] March 2021. ## **Reference and Administrative Information** Registered Charity no: 1118758 Company registration no: 6057812 Registered office: Hawkrigg 89 Gilesgate Durham DH1 1HY Bankers: The Co-operative Bank plc. PO Box 250 Skelmersdale WN8 6WT ## **Directors and Trustees** The directors of the charitable company (the charity) are its trustees who, for the purpose of charity law and throughout this report, are collectively referred to as the trustees. The trustees serving during the financial year were as follows: Mr. J. Bond (Chair- October 2020) Dr. M. H. Cave (Chair- November 2020ff) Mrs. R. Tanner (Secretary) Mr. S. Baines (Treasurer) Mrs C Ball (Assistant Treasurer) Dr. M. H. Cave Ms J. Greene Mr. J. Hoggett Dr. T. Mason Revd. W. Rigby Ms K Scott-Hughes Ten trustees were elected to serve from October 2020 - October 2021. Dr Emma Pearson and Mr Richard Stamp were elected to the Board in October 2020. Mr J. Bond and Mrs. C. Ball resigned at the AGM in October 2020. At the first meeting of the Trustees following the AGM, Dr Michael Cave was elected Chair. ## **Appointment of Trustees** The members of the board of trustees are responsible for the policy and general management of the affairs of the association. Trustees are elected at the Annual General Meeting and serve for 3 years, one third retiring annually. The Committee may co-opt up to four further members to hold office up to the conclusion of the next Annual General Meeting. All members are circulated with invitations to nominate trustees prior to the AGM advising them of the retiring trustees and requesting nominations for the AGM. The Chairperson and Honorary Officers are elected for 3 consecutive years. The trustees have no interest in shares in the trust, which is a company limited The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 2 by guarantee. ## **Structure, Governance and Management** The trustees present their report and the financial statements for the year ended 31[st] March 2021, which comply with current statutory requirements, with the company’s governing document and with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). ## **Governing Document** The Cobweb Orchestra is a charity, which together with its property shall be administered and managed in accordance with its constitution adopted on April 6[th] 2007 by the members of the executive committee. The Trust is a limited company by guarantee governed by its Memorandum and Articles of Association with no share capital, being limited by guarantee. ## **Organisation** The board of trustees, which can have up to 12 members, administers the charity. The board meets quarterly and there are sub-committees covering finance, human resources, membership, distinctiveness, fundraising, programming, promotion and marketing. The board contracts services for administration and creative direction as well as hiring conductors and musicians as and when required. The organisation does not have any directly employed staff. ## **Statement of Trustees’ Responsibilities** The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of the affairs of the charity and the incoming resources and application of resources, including the net income or expenditure for the year. In preparing those financial statements, the trustees are required to: - select suitable accounting policies and apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Objectives and Activities** The objectives of the charity are: To advance, improve, develop and maintain public education in, and appreciation of, the art and science of music in all its aspects. The Cobweb Orchestra began as a 10-week course with one group in one venue with a small number of players. In October 2006 the organisation started to consider independence from North The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 3 Music Trust for various reasons. Before becoming independent from North Music Trust, there was a series of meetings to establish what the potential membership wanted from a new organisation. The answer – much the same as has always been on offer. A working party, set up as a result of these early meetings, set out to achieve this objective. As a result of the consultation process The Cobweb Orchestra became a company limited by guarantee in January 2007 and achieved charitable status in March 2007. The Cobweb Orchestra has maintained its open access policy and this features strongly in its charitable objectives, which feature in its Memorandum and Articles. These objectives continue to be its guiding light. We now run nine regular orchestral groups across northern England, in Northumberland (Morpeth), Newcastle, County Durham (Dipton, Spennymoor and Ludworth), York and Cumbria (Dalston and Tebay). These groups are open-access, with no auditions or quotas and attendance is open to both the general public and members of the charity. In addition, we run events and concerts across the region, drawing together members of our regular groups with other musicians and arts organisations. These include study days, longer weekend workshops to consider larger works or chamber music and programmes focused on the development of members' skills, such as composing or conducting. ## **Achievements and Performance** This year has continued without in-person meetings because of Cobweb restrictions - On March 16[th] 2020 our Chairman cancelled all further events in the light of the impending lockdown due to the Coronavirus pandemic, and our Director took up the challenge of providing a programme of virtual events - These included the Cobweb Virtual orchestra which has performed several times, an online musical Book Club and a series of “Concert Parties” at which individuals play from their homes for the enjoyment of others - In October we marked our 25[th] Anniversary with a programme of solo and joint performances, reminiscence and celebration - Further new ideas, including online Masterclasses and recitals from local professional musicians - In May 2021 an “in person” event was held to test the limitations of social distancing on performance and to inform the creation of a rigorous Risk Assessment policy. It was hoped to be able to gradually return to our regular programme of meetings as members wishes and as government guidelines allowed. (This did in fact happen.) ## **Public Benefit Statement** The trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charities Commission in exercising their powers and duties. ## **Financial Review** The income on total funds for the period amounted to £28,370 (2020: £77,866) against running costs of £22,906 (2020: £76,179), giving a total surplus of £5,464 (2020: £1,687). The total balance of unrestricted funds at the period end, including non-current assets, amounted to £37,513 (2020: £32,049) with a further £328 (2020: £328) held for restricted purposes. We aim under our reserves policy to hold around 20% - 25% of annual unrestricted expenditure in available reserves (net current assets in the balance sheet), to mitigate financial risks. The reported surplus for the period brings our available unrestricted reserves to £23,013 (2020: £17,280). This equates to more than 100% (2020: 23%) of unrestricted expenditure for the period, which, following a number of years of reported deficits, is comfortably within our target range. The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 4 However, it should be noted that, as a result of the ongoing Covid-19 pandemic, expenditure for the period was vastly different to previous periods, and thus this ratio is not directly comparable. ## **Plans for the Future** We, as a board of trustees, continue to review our future calendar of events to ensure we offer a programme that will meet the needs of our members, whilst cognisant of the fact that the makeup of our membership may be considerably altered as a result of the ongoing situation. We have undertaken a survey of our membership to ascertain the level of engagement we were likely to enjoy as we return to a semblance of “normality.” Social distancing, mask wearing and regular ventilation now form part of our regular routine at all meetings. We work with the committees at our community venues to ensure safety and confidence for our members at all times. The trustees have been meeting monthly and then every 2 months (rather than quarterly) to keep a watching brief on the situation, both financial and vis-à-vis membership, and to support the sterling efforts of our Director and Events Administrator. ## **Risk Review** The trustees have identified and reviewed the major risks to which the charity is exposed, and systems have been established to mitigate these risks. A Risk Assessment Policy, focused particularly on the issues around Covid-19, has been drawn up which we intend to operate in conjunction with the policies of the venues we hire, as and when we are able to return to in-person activities.. ## **Exemptions** This report is prepared in accordance with the special provisions of Section 415A of the Companies Act 2006 relating to small companies. This report was approved by the Trustees on 17.12.21 And signed on their behalf by ________________________ Mrs. R. Tanner Secretary The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 5 Independent Examlners Report Report to the trusteeshnembers of The Cobweb Orthestra on AcL))unts for the year ended 31 March 2021, sel oul on the fc41owing pages. Respective responslbllltles of the Charity and the Independenl Examiner As members of the Charity you are responsible lor the preparation of the financial siatements" you CL)nsider that the audit requirement of Regulation 3{31 and section 14412) ot thè Charities Act do not appiy and that an Independent examination is needed. It is my responsibility lo: Examine the finanaal statements under s.145 of the 2011 Act., Follow the procedures laid down in the General Directrons given by the Charities Commission, under section 14515)Ibl of the 2011 Act.. and State whether any particular matters have cx)me to my attention Basis of Examiner's sLitement My examination was carried out in aco)rdance with General Directions given by the Charity Commissioners. An examinallon indudes a review of the accounting records kept by the tharity and a txjmparfson of the acccHJnts presented wslh these records. "It also indudes ￿nsIderatI￿ of any unusual items or disdosures in the accounts, and seeknng expian*ions Irom the trustees con￿MIng any such matters. The procedures undertaken do not provide all the evidence thal woukl be r4uired in an audil and consequently, I do not express an audit opinion on these accounts. Independent Examlner's statement In connection wtth my examinalton. no matter has come to my attevrtion 11 whith gives me reasonable cause to believe that in any material respect, the requirements: to keep acc(Krnting records in accordan(E with section 130 of the Act,. and to prepare accounls which agree with the accounting re￿rdS and ¢￿mplY with the accounting requirements of the 2011 Acl have been compromised" and 2) to which, In my opinion. attention should be drawn in order to enable a proper understanding of the accounts to reached. Andr** French Sign&J The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 sTATEMEp￿ OF FINANCIAL ACTIVITIES Restrlctsd Unr•strfctod 202041 201940 fund* Tol•l fvnd¥ TotAI fund Note In¢•m• •nd •ndowm•nts from". Donattins and legades Charltable a￿￿t￿8 18.489 9,804 77 18,489 9,804 77 4,055 73,748 63 Investments Total 28,370 28,370 77,866 ExpendI￿re on: Ralshg funds Charitable act￿11￿9s Governanc8 400 22,506 400 22,506 1,054 74,925 200 Totsl 22.906 22.906 78.179 Not In¢omo11oXP0ndl￿rO) 5.464 5.464 1.687 Tran8for8 botsveen fund8 othor rocognlsod galns I Ios8e8 Net mov¥m•nt In fvnds 5,464 5.464 1.687 Reron¢lliation of fvnd¥'. Total fvnds brDught forward 328 32.049 32.377 30.690 T+thl fvnds carried ft¥rw•ril 328 37,513 37.841 32.377 The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 BALANCE SHEET Restrlctsd Unr•$trlct•d funds 2020Q1 Tolal fitn 2019QO Total funds >te Jnds Nonrtlan¢e %*ith the prov$ion$ applKable to wrTpan￿5 subie¢t to the $tyo11 ¢ompaniè$' ￿gim￿. Mr5. R.Tanner se¢￿tary The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 1. AccountlrvJ pollcles 1.1 Accounting Convention Thes8 finan￿al stat8m8nts hav8 be8n pr8pared under Ihe historic costconvention and in accordance wilh FRS 102 leffective Jan 20151, the CornpaniesAct 2006 and Ihe requirornents of Ih Charib'85 SORP 2019. The tDJSte85 consid8r that th8 cornpany is 8 public b8nefit 8ntity. These accounts are therefDfe PTepared on a going-concem ba51S. 12 MatorLql uncertalnty over golng concorn Du8 to lh8 current Covid-19 outbreak, the orchestra has13ken the decision. in lin8 wilh governrn8nt advice, to coa5e its rnajor charitable activitie5 Ilhe running of orch85tra 6vent51 until such time as social distancing ￿aSure5 are lifted. Our ability to conkn'nuo to operate in Ihe long temi is Iherefore dependent upon the lenglh oftime Ihese measures are in force. The trustees considerthat sufficient resèrves aro in placè to COP0 wilh Ihe most likely scenarios for longth of ttrslricknons. Thèse accounts are the￿fore prepa￿d on a going-concem basis. However. due to the significant uncertainty in tsming of these ￿$￿¢tionS. which is outside the control of the orchestra. these conditions Pfesenta material unc4rtainty overthe orchèstras ability to continue as a going concem. 12 ChaNJe In a¢¢ounUNJ reference date During th8 year, the orchestra changed its accounting reference dat9 during the year from the 5 April to 31 K18rch, slightry short8ning Ihe currentaccounting period. 1 A Incoming r•sources All incorning resources ar8 induded on Ihe StAt8mont of Finan￿al Activiti85 wher the charity 15 18gally 8ntiI8d to th8 incorne and th8 amountcan b8 quantifi8d with rea50nabl8 accuracy. Def8￿ed incomo balance5 3ri58 wh8n participarJts in cha¥itabl8 activiti85, for 8xample r85id8ntial ev8nts, pay in advance. 1.5 Resourcos 8xp8nthd Expendibjre is accounted fDron an accruals ba515 and has been classified under headings Ihat aggregat8 all costs r81at8d to Ihe category. Where costs cannot b8 direcuy attribut8d to parbcular headings Ihay have baen alloeAted to actiwtios on a basis cL)n$i5tsntwith Ihe usè of rostsurcos. The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 1.6 Tangible ftxed a88et8 Tangible fixed assets cornprise the orche8trab rnu3ic library Isheet music, assoaated storage units and print'ng facilitiesl and instruments for use by Ihe orchestra. The initial carying value of donated assets is tsken to be the lower of replacement cost and recoverable amountat the dats it is received. The value in use is assunwd to be equal to the current replacement cost For the instrument bank and music library storage. depreciabon calculated on a 10% ieducing balance basis on cos( for ITr*lat8d equipmant, depreciation is calculated on a 20% r8ducbng balance basis on Sheet music is not dtrprtsciated. as its condition and value dèpands chiolly on tt)e extent of use ralhèr Ihan age. It is therefore 5ubj8Ctto an annu81 imp8irm8nt review. 1.7 Taxatityn The charity 15 8xemptfrom corporation tax on its charitable actiwties underth8 primary pU￿oS8 trading gxempbon. 1.8 Fund a¢¢ountlng Unre5tricte¢J funds can b• usod in accordancè with Iha tharilable objoetiv¥s at tha disttstion of Ihè trustees. Restricted fiJnd$ can only be used for parbcular restricted purposeswilhin Ihe objects of the charity. Resirictions arise when specified by the donor or when funds are raised for parbcular purposes. 1.9 Slgnincantjudgments and estlmate¥ The trustees do not consider there to be the need forany significantjudgments or estimates in applying these accounting policiès, given the simpliaty ofthe charitys operab"ons. therthan as reportad in the paragraph abov8 r8garding Material unc8rtaAntyovergoffng conc8m, th8r8 are no 8ssumption5 orother sources of estirnation uncertainty at the reporbng da¢e which may give rise to a significant risk of cau%ng material adjugbnentto the carrying value of assets and liabilits.os within the next reporb'ng period. 1.10 Donated goods and 80rv¥ces Trustees and members olthe charity o)ntribute as general volunteers to a numberof key areas of operab"ons. Thosè indude managing the music library and general administration ol membership and w88klygroups. Under 6.18 ofth8 2019 SORP, thes8 5ervic85 are not recognis8d in Ih858 accounts. The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 10 2. Incom• 2020-21 201940 Restrictsd Unrestricted funds funds Total funds Total funds t>onatlons and l•gaelos Donation3 Grtt aid 15,873 2,616 18,489 15,873 2,616 18,489 2,921 1.134 4,055 Charitabl• activitios Event fees 3.459 3,459 27,462 14251 37,218 7.300 1,742 451 Fee refunds Subs¢xplN)ns meMbe￿hIP Fund raising events Olher income Gr8nls 409 5.116 800 20 409 5,116 800 20 9,804 9.804 73,748 Inv8Stment Income Interest reeeivablg 77 77 63 Total Incomlng r•sourc•s 28,370 28,370 77.866 The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 3. R•s¢xw¢•i 8xpndod 2020-21 201940 ReJtrict•d funds Unr•slriGted Totsl funds Totalfur Expendknwo on r4l9lnBfunds Proff￿tional expenses Repairs and renewals IT & Webslte costs Professional sub5cripbons Fundraisng trading.. costs of good5 sold and othercosts 335 46 60 366 35 365 35 365 247 1,054 400 400 ExpondkLW• on eharMabl• atUviti•s Musicians, fees Condutlorstses Venu? hire Events management HI￿ ofplant machinery8nd music Telecomrnunication5 Po8lag8 and stationary Travel expen5e5 Refrpshtnents and Sundriès Insurgnce Depreriation offixed assets Impalrm8nts offixed assets 2.565 13,577 167 5,501 2.565 13,577 187 5501 20.162 28,230 18,236 6.286 282 282 150 303 2.332 639 132 294 132 269 132 269 22,506 22,506 74,925 oth•r •xp•nditur• Accounting and bank fees 200 22.908 22.906 78,179 See following page for explanation ofc¥editenty Relates kn the charitys independent examination ofthe aca)unts Tru¥tee¥' r*mu￿ra￿On and expeThs¢¥ Purchases made by trustees on behalfofthe orchestra and reirnbursed totalled £510. for 2 tnJst8851£323 in 2019-20 fDr 3 trustees). No travel expenses were clairned bylnjstees during 2020-21 or 201W20. The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 12 4. TaThgkn￿ fttèdassets Ilbrary Instr￿¢￿1 b•nk Totsl Cost At1 Aprfl 2020 Addition5 ImpaiFmentslrevaluabon8 Disposals At 31 March 2021 12,920.00 4,609.00 17,529.00 12.920.00 4,609.00 17.529.00 At 1 April 2020 Impairnents Irevaluabons Charge forlhe year Disp05a15 Al 31 March 2021 282.00 2.478.00 2,760.00 56.00 213.00 269.00 338.00 2,691.00 3,029.00 Not book v8lu At 31 M4rGh 2020 12,638.00 2131.00 14 769.00 At 31 March 2021 12.582.00 1,918.00 14.500.00 S. Trade and other recelvablgs 2020-21 2019-20 Trade rec&lvables Giftaid claims Prepayments A￿rUed income 240 1,074 1,291 240 761 1,618 41 2.605 6. Trade and other payabknty 2020-21 2019-20 Deferred income Trade payables and accruals 908 4,243 2.180 7,262 7. Movemont In fundb At 1 Awll 2020 kneom• Ex￿nd￿Ur• Fund transf•rs At 31 Mareh 2021 37,513 Unrestricted funds Restricted funds- CDCF Ludworth grant Re8ln'cted fvnd8- other 32.049 28,370 122.9061 328 32,377 328 37,841 28,370 22,906 At 6 Awll 2019 kncomo ExpOnd￿Ure Fund tran8hr8 147 At 31 March 2020 32,049 Unre3tricled ftjnds Restricted funds- CDCF Ludwoth grant Restrieted funds- othar 29,807 77,866 175,7651 14141 414 475 30,690 {1471 328 32,377 77066 76.179 The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758