THE COBWEB ORCHESTRA
(A company limited by guarantee) Report and Financial Statements Year ended 31[st] March 2023
Charity number: 1118758 Company number: 6057812 Annual return 2022-23
The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758
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THE COBWEB ORCHESTRA
Report of the trustees for the year ended 31[st] March 2023
The trustees are pleased to present their report together with the financial statements of the charity for the year ending 31[st] March 2023.
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:
Dr. M. H. Cave (Chair) Mrs. R. Tanner (Secretary) Mr. S. Baines (Treasurer) Ms. S. Baker Mr. A. Forsyth Ms J. Greene Dr. S. Orr Dr. E. Pearson Dr. C. Preston Mr. R. Stamp
The Cobweb Orchestra holds its Annual general Meeting in October. Ten trustees were elected to serve from October 2022 - October 2023. Revd. W. Rigby and Ms. K. Scott-Hughes resigned at the AGM in October 2022 and Mr. Andrew Forsyth and Dr. Silvia Orr were elected.
The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758
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Structure, Governance and Management
The trustees present their report and the financial statements for the year ended 31[st] March 2023 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 currently meets every two months but more usually quarterly and there are sub-committees covering Finance, Human Resources and Publicity 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:
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 Music Trust for various reasons. Before becoming independent from North Music Trust, there was
The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758
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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), Teesside (Billingham), 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
The Cobweb continued to return to its usual pattern of weekly meetings for its local groups and occasional/regular weekend workshops. The effects of the lockdown period have not been excessive and we are glad to be able to report a return almost to our previous levels of attendance. We continue to work to attract new membership.
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Our nine local groups, across Northumberland, Tyneside, County Durham, Cumbria, Teesside and York continue to meet regularly during term time. The group in Tebay, Cumbria has a new leader and has benefitted from the injection of enthusiasm that a new leader brings.
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In October 2022, our long time and founder Director retired and we welcomed a new Music Director, Mr. Mark Edwards. He is a talented and experienced conductor working with community groups across the North East and further afield. He works to build on the ethos and enthusiasm of his predecessor whilst stamping his own style on the organisation going forward.
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Our joint weekend workshops have concentrated on major symphonies during this year. The Haydn Project (to play all Haydn symphonies over nearly 5 years) was completed. The ‘Meet your new Director’ sessions included symphonies by Tchaikovsky, Mendelssohn and Beethoven and our re-instated “Month of…” meetings in January worked through the 4 symphonies of Brahms. At the “Big Play” event all groups come together and each presents a work, this year the theme being “Composers whose name began with S”
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The Cobwebs Chamber group also re-established its programme of meetings and concerts
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 total incoming funds for the period amounted to £71,897 (2022: £43,111) against running costs of £72,698 (2022: £47,165), giving a total deficit of £801 (2021: surplus of £4,054). The total balance of unrestricted funds at the period end, including non-current assets, amounted to £32,658 (2022: £33,459) with a further £328 (2022: £328) held for restricted purposes.
The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758
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Under our reserves policy we aim to hold around 20% - 25% of annual unrestricted expenditure in available reserves (net current assets in the balance sheet), to mitigate financial risks. At the balance sheet date, the available unrestricted reserves totalled £18,941 (2022: £19,574) which equated to around 26% (2022: 42%) of unrestricted expenditure for the period.
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 and hopefully attract new members. We continue to work with our community venues to ensure safety and confidence for our players at all times. The trustees have returned to 2 monthly and now quarterly meetings where we keep a watching brief on the situation, both financial and vis-à-vis membership, and to support the sterling efforts of our Director, appointed in May 2022, who began officially in October 2022) and our Events Administrator without whom our smooth running would hardly be possible.
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, remains in place until we are confident that we are clear of any risk of relapse, which we operate in conjunction with the policies of the venues we hire, as we continue 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 15 January 2024
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
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STATEMENT OF FINANCIAL ACTIVITIES
| Restricted Unrestricted 2022-23 funds funds Total funds Note £ £ £ Income and endowments from: Donations and legacies 2 - 5,177 5,177 Charitable activities 2 - 66,686 66,686 Investments 2 - 34 34 Total - 71,897 71,897 Expenditure on: Raising funds 3 - 1,296 1,296 Charitable activities 3 - 71,402 71,402 Governance 3 - - - Total - 72,698 72,698 Net income/(expenditure) - (801) (801) Transfers between funds - - - Other recognised gains / losses - - - Net movement in funds - (801) (801) Reconciliation of funds: Total funds brought forward 328 33,459 33,787 Total funds carried forward 328 32,658 32,986 |
2021-22 Total funds £ 5,135 37,970 6 |
|---|---|
| 43,111 | |
| 475 46,690 - |
|
| 47,165 | |
| (4,054) | |
| - - |
|
| (4,054) | |
| 37,841 | |
| 33,787 |
The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758
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BALANCE SHEET
| Restricted Unrestricted 2022-23 Note funds funds Total funds Non-current assets £ £ £ Tangible fixed assets 4 - 13,717 13,717 Current assets Debtors 5 - 5,453 5,453 Cash at bank and in hand 328 36,350 36,678 328 41,803 42,131 Creditors falling due within one year 6 - (22,862) (22,862) Net current assets 328 18,941 19,269 Total assets less current liabilities 328 32,658 32,986 Net assets 328 32,658 32,986 Funds Unrestricted funds 7 32,658 32,658 Restricted funds 7 328 328 Total funds 328 32,658 32,986 |
2021-22 Total funds £ 13,885 3,623 39,304 |
|---|---|
| 42,927 (23,025) |
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| 19,902 | |
| 33,787 | |
| 33,787 | |
| 33,459 328 |
|
| 33,787 |
For the financial year in question, the company was entitled to exemption under section 477 of the Companies Act 2016 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
________ 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
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1. Accounting policies
1.1 Accounting Convention
These financial statements have been prepared under the historic cost convention and in accordance with FRS 102 (effective Jan 2015), the Companies Act 2006 and the requirements of the Charities SORP 2019. The trustees consider that the company is a public benefit entity. These accounts are therefore prepared on a going-concern basis.
1.2 Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Deferred income balances arise when participants in charitable activities, for example residential events, pay in advance.
1.3 Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
1.4 Tangible fixed assets
Tangible fixed assets comprise the orchestra's music library (sheet music, associated storage units and printing facilities) and instruments for use by the orchestra.
The initial carrying value of donated assets is taken to be the lower of replacement cost and recoverable amount at the date it is received. The value in use is assumed to be equal to the current replacement cost. For the instrument bank and music library storage, depreciation calculated on a 10% reducing balance basis on cost, for IT related equipment, depreciation is calculated on a 20% reducing balance basis on cost. Sheet music is not depreciated, as its condition and value depends chiefly on the extent of use rather than age. It is therefore subject to an annual impairment review.
1.5 Taxation
The charity is exempt from corporation tax on its charitable activities under the primary purpose trading exemption. Nil CT600 Corporation Tax Returns are filed with HMRC as and when requested.
1.6 Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes.
1.7 Significant judgments and estimates
The trustees do not consider there to be the need for any significant judgments or estimates in applying these accounting policies, given the simplicity of the charity's operations. Other than as reported in the paragraph above regarding Material uncertainty over going concern, there are no assumptions or other sources of estimation uncertainty at the reporting date which may give rise to a significant risk of causing a material adjustment to the carrying value of assets and liabilities within the next reporting period.
1.8 Donated goods and services
Trustees and members of the charity contribute as general volunteers to a number of key areas of operations. These include managing the music library and general administration of membership and weekly groups. Under 6.18 of the 2019 SORP, these services are not recognised in these accounts.
The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758
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2. Income
| 2. Income | ||
|---|---|---|
| Donations and legacies Donations Gift aid Charitable activities Event fees Weekly subscriptions Membership Fund raising events Other income Grants Investment income Interest receivable Total incoming resources |
2022-23 Restricted funds Unrestricted funds Total funds £ £ £ - 3,591 3,591 - 1,586 1,586 - 5,177 5,177 - 18,283 18,283 - 39,953 39,953 - 7,405 7,405 - - - - 1,045 1,045 - - - - 66,686 66,686 - 34 34 - 71,897 71,897 |
2021-22 Total funds £ 4,383 752 |
| 5,135 4,725 26,459 6,505 - 281 - |
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| 37,970 6 |
||
| 43,111 |
The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758
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| 3. Resources expended 2022-23 Restricted funds Unrestricted funds Total funds Expenditure on raising funds £ £ £ Promotional expenses - - Repairs and renewals - - IT & Website costs - - Professional subscriptions - 412 412 Fundraising trading: costs of goods sold and other costs - 884 884 - 1,296 1,296 Expenditure on charitable activities Musicians' fees and Musical Director's fee - 12,400 12,400 Conductors fees - 30,479 30,479 Venue hire - 18,347 18,347 Events management - 6,286 6,286 Hire of plant, machinery and music - - Telecommunications - 144 144 Postage and stationary - 382 382 Travel expenses - 1,883 1,883 Sundry expenses - 400 400 Insurance - 183 183 Depreciation of fixed assets - 898 898 Impairments of fixed assets - - - - 71,402 71,402 Other expenditure Accounting and bank fees - - - Total resources expended - 72,698 72,698* |
2021-22 Total funds £ 14 - 35 426 - |
|---|---|
| 475 1,430 31,805 4,385 7,036 - 140 180 706 13 163 832 - |
|
| 46,690 - |
|
| 47,165 |
- See following page for explanation of credit entry
** Relates to the charity's independent examination of the accounts
Trustees' remuneration and expenses
Purchases made by trustees on behalf of the orchestra and reimbursed totalled £357, for 1 trustee (£180 in 2021-22 for 3 trustees). No travel expenses were claimed by trustees during 2022-23 or 2021-22.
The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758
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4. Tangible fixed assets
| 4. Tangible fixed assets | 2012-13 |
|---|---|
| Cost At 1 April 2022 Additions Impairments / revaluations Disposals At 31 March 2023 Depreciation At 1 April 2022 Impairments / revaluations Charge for the year Disposals At 31 March 2023 Net book value At 31 March 2022 At 31 March 2023 |
Music library Instrument bank Total £ £ £ 13,137 4,609 17,746 101 629 730 - - - - - - |
| 13,238 5,238 18,476 978 2,883 3,861 - - - 662 236 898 - - - |
|
| 1,640 3,119 4,759 |
|
| 12,159 1,726 13,885 |
|
| 11,598 2,119 13,717 |
5. Trade and other receivables
| 6. Trade and other payables | 2022-23 £ Trade Debtors 1,657 Gift aid claims 1,585 Prepaid expenses 2,211 Accrued income - 5,453 2022-23 £ Deferred income 14,832 Trade payables and accruals 8,030 22,862 |
2022-23 £ Trade Debtors 1,657 Gift aid claims 1,585 Prepaid expenses 2,211 Accrued income - 5,453 2022-23 £ Deferred income 14,832 Trade payables and accruals 8,030 22,862 |
2021-22 £ 1,763 371 1,489 - 3,623 2021-22 £ 13,150 9,875 23,025 |
|---|---|---|---|
| 7. Movement in funds Unrestricted funds Restricted funds – Leigh Fairlie Legacy Restricted funds – other Unrestricted funds Restricted funds – CDCF Ludworth grant Restricted funds – other |
At 1 April 2022 Income 33,459 71,897 - - 328 - |
Expenditure Fund transfers (72,698) - - - - - |
At 31 March 2023 32,658 - 328 32,986 At 31 March 2022 33,459 - 328 33,787 |
| 33,787 71,897 | (72,698) - | ||
| At 1 April 2021 Income 37,513 43,111 - - 328 - |
Expenditure Fund transfers (47,165) - - - - - |
||
| 37,841 43,111 | (47,165) - | ||
The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758
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Independent Examinerfs Report Report lo the Irusteeslmembers of the Cobweb Orchestra on Ac¢ount$ for the period ended 31, March 2023, gel out on the following pages. Respective responsibilities of the Charity and the Independent Examlner As members of the charity you are responsible for the preparation of the financial stalemenls,. you consider that the audit requirement of regulation 313) and section 144(21 of the Charities Act do not apply and that an independent examination is needed. It is my responsibility to.. Examine the financial statements under s.145 of the 2011 Act., Follow the procedures laid down in the General Directions given by the Charity Commission under ge¢tion 145{5llbl of the 2011 Act., and State whether any particular matters have come to my atterrtion 8asis of Examlnevs statement My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with these records. It also in¢ludes nSIderatIon of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on these accounts. Independent Examlner's Statemènt Sn connection with my examination, no matter has come to my attention 11 which gives me reasonable ¢ause to believe that in any material respect, the requirements.. to keep accounting records in accordance with section 130 of the Act., and lo prepare accounts which agree with the accounting records and comply with the accounting requiremenls of the 2011 Act have been compromised,. and 2) to which in my opinion, attention should be drawn in order lo enable a proper understanding of the accounts to be reached. Andrew French Dale.. The Cobweb Orchestra is registered in England as a company limited by guarantee, no. 6057812 and as a charity, no. 1118758 12