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← Eso (2006) Limited

2024-08-31-accounts

REGISTERED COMPANY NUMBER: 05908862 (England and Wales) REGISTERED CHARITY NUMBER: 1119621

Report of the Trustees and Financial Statements for the Year Ended 31st August 2024

for

ESO (2006) Limited

Richards Sandy Partnership Ltd Chartered Certified Accountants Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU

ESO (2006) Limited

Contents of the Financial Statements for the Year Ended 31st August 2024

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Cash Flow Statement 7
Notes to the Cash Flow Statement 8
Notes to the Financial Statements 9 to 17
Detailed Statement of Financial Activities 18 to 19

ESO (2006) Limited

Report of the Trustees for the Year Ended 31st August 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 31st August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principle aim of the company is to advance, improve, develop and maintain public education in and appreciation of, the arts and science of music, in particular the art of classical music by any means as the directors see fit.

The tagline of the company has recently changed to "The International Orchestra of Elgar Country". This line embodies the orchestra's current trajectory - enjoying international renown for its highly acclaimed recordings and world-wide reputation while staying true to its West Midlands/Share roots. The company engages musicians and hires venues in order to promote concerts at its own risk. It also seeks funding from a variety of sources ranging from Trust and Foundations to individual donations in order to provide a secure funding base for its concert and recording activities and to fund the administration of the orchestra.

The orchestra is also engaged to perform at concerts promoted by other organisations and to record classical repertoire. The company has an active education programme. Examples of these activities include the development of a beginners' orchestra (for music students studying grades 1 - 3) and an intermediate orchestra (for students studying grades 4 - 7). The company also takes music into the community through its Homes and Hospices programme whereby musicians perform for the elderly and infirm who find it difficult to leave the home to attend concerts.

Public benefit

The trustees have complied with their duty to have a regard to public benefit guidance published by the Charities Commission, the trustees consider that the charity meets the public benefit requirements of the Charities Act 2011 by carrying out its normal activities.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the year the charity participated in the Elgar Festival 2024, with the Elgar Gala Concert organised by the charity being considered the heart of the Elgar Festival.

The charity arranged Beyond the Horizon concerts at Malvern Theatre and The Mount Without, Bristol as part of its 'Music for Humans' season. Other performances undertaken by the charity in the year included Blown Away, Echoes of Oppression, Desire For Life and Universe of the Mind. The charity also arranged several Relaxed performances that were free to attend.

The charity arranged for Corinne Frost and Stephen Warner (aka "DownsideUp") and the ESO Wind Ensemble to perform a selection of music for various Dementia Meeting Centres.

The charity also organised ESO Youth autumn spring and summer orchestra courses for beginner, intermediate and advanced levels. Orchestral discipline is matched by improvisation and sheer fun with the primary aim of helping children develop musicianship, confidence and sociability. The varied activities on each course include full and sectional orchestral rehearsals as well as singing, group improvisation, solo masterclasses and games and every course concludes with an informal concert.

This year the charity also organised additional ESO Youth training events for harps and strings.

The charity also runs a digital library of past concerts that members have access to in exchange for a monthly donation to the charity. Membership includes other benefits, including exclusive content, discounted tickets and regular newsletters.

The charity also sells CDs of its productions, available on its online store.

FINANCIAL REVIEW

Financial position

Total income from the year was £467,899 (2023 - £671,345). Last year the charity received exceptional levels of support relating to Covid-19 recovery and whist performance income and grant income have all fallen compared to last year, the current year's level of income is comparable to pre-pandemic levels.

Total expenditure for the year was £501,895 (2023 - £622,836). The level in expenditure has decrease approximately in line with the fall in income.

Page 1

ESO (2006) Limited

Report of the Trustees for the Year Ended 31st August 2024

FINANCIAL REVIEW

Principal funding sources

The charity is funded by a mixture of income generated from concerts, ESO Youth, sale of CDs and other charitable activities undertaken and grants and donations received from Arts Council England, various charitable trusts and members of the public.

Reserves policy

Unrestricted reserves at the year end were £134,232 (2023 - £186,910). Excluding funds held as tangible fixed assets of £2,820 (2023 - £2,969), free reserves were £131,412 (2023 - £183,941).

Restricted reserves at the year end were £22,211 (2023 - £3,529).

The trustees have reviewed the charity's needs for reserves in accordance with the guidance issued by the Charity Commission and have taken into account the desirability of holding sufficient funds to meet unexpected disruption of the income flow.

The trustees aim to hold unrestricted reserves to approximately three month's expenditure, with the level of unrestricted funds held at the year end being approximately 3 month of expenditure (2023 - approximately 3 months of expenditure). The trustees are working to increase reserves moving forward.

FUTURE PLANS

The charity plans to participate in the 2025 Elgar Festival.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charitable company is controlled by its governing document, its Memorandum and Articles of Association, and constitutes a limited company registered in England and Wales, limited by guarantee, as defined by Companies Act 2006.

Recruitment and appointment of new trustees

Appointments are made by election as the Annual General Meeting following requests from members.

Organisational structure

The charity is run by its board of trustees, who delegate the day-today running of the charity to it's chief executive officer Seb Lovell-Huckle.

The charity engages The Music Agency to assist with the booking of musicians who perform at the charity's concerts.

Induction and training of new trustees

New trustees receive an induction from the chair of trustees.

Key management remuneration

Key management remuneration is determined by the board of trustees.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Trustee indemnity provisions

The Articles of Association state that the charity shall indemnify the trustees against any liability incurred by them in their capacity as trustees, to the extent permitted by Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

05908862 (England and Wales)

Registered Charity number

1119621

Registered office

16-20 Deansway Worcester Worcestershire WR1 2ES

Page 2

ESO (2006) Limited

Report of the Trustees for the Year Ended 31st August 2024

Trustees

Mr R J Adey Dr C A Barnett Mr D Blake Dr J T Godfrey OBE Ms M G Mueller Mr G Sheffield Mr J Summers Mr B Turner (resigned 1.9.23)

Independent Examiner

Melissa Jean Godwin ACCA Richards Sandy Partnership Ltd Chartered Certified Accountants Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU

Chief Executive Officer

Mr S W Lovell-Huckle

Musician booking agent

The Music Agency Crynallt Llancarfan Vale of Glamorgan CF62 3AD

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on .....28/11/24........................................ and signed on its behalf by:

==> picture [207 x 45] intentionally omitted <==

----- Start of picture text -----
GO [OLG] A
----- End of picture text -----

........................................................................ Dr J T Godfrey - Trustee

Page 3

Independent Examiner's Report to the Trustees of ESO (2006) Limited

Independent examiner's report to the trustees of ESO (2006) Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Melissa Jean Godwin ACCA

Richards Sandy Partnership Ltd Chartered Certified Accountants Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU

Date: 06/12/2024

Page 4

ESO (2006) Limited

Statement of Financial Activities

for the Year Ended 31st August 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
97,968
Charitable activities
6
Concerts
78,091
Education
89,591
Other Activities
-
Other trading activities
4
288
Investment income
5
120
Tax credits
85,283
Total
351,341
EXPENDITURE ON
Charitable activities
7
Concerts
261,663
Education
64,335
Support Costs
78,021
Total
404,019
NET INCOME/(EXPENDITURE)
(52,678)
RECONCILIATION OF FUNDS
Total funds brought forward
186,910
TOTAL FUNDS CARRIED FORWARD
**134,232 **		 Restricted
funds
£
116,558
-
-
-
-
-
-
116,558
97,376
500
-
97,876
18,682
3,529
22,211		 2024
Total
funds
£
214,526
78,091
89,591
-
288
120
85,283
467,899
359,039
64,835
78,021
501,895
(33,996)
190,439
156,443		 2023
Total
funds
£
343,954
107,229
94,904
387
3,303
252
121,316
671,345
498,206
19,177
105,453
622,836
48,509
141,930
190,439

The notes form part of these financial statements

Page 5

ESO (2006) Limited

Balance Sheet 31st August 2024

2024 2023
Unrestricted Restricted Total Total
funds funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 15 2,820 - 2,820 2,969
CURRENT ASSETS
Debtors 16 125,091 - 125,091 162,675
Cash at bank 29,548 22,211 51,759 44,065
154,639 22,211 176,850 206,740
CREDITORS
Amounts falling due within one year Amounts falling due within one year
17		 (23,227) - (23,227) (19,270)
NET CURRENT ASSETS 131,412 22,211 153,623 187,470
TOTAL ASSETS LESS CURRENT LIABILITIES TOTAL ASSETS LESS CURRENT LIABILITIES 134,232 22,211 156,443 190,439
NET ASSETS **134,232 ** 22,211 156,443 190,439
FUNDS 19
Unrestricted funds 134,232 186,910
Restricted funds 22,211 3,529
TOTAL FUNDS 156,443 190,439

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ...........28/11/24................................. and were signed on its behalf by:

GOLF ............................................. A

Dr J T Godfrey - Trustee

The notes form part of these financial statements

Page 6

ESO (2006) Limited

Cash Flow Statement for the Year Ended 31st August 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Interest received
Net cash provided by investing activities
Cash flows from financing activities
Concessionary loans received
Concessionary loans repaid
Net cash (used in)/provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
£
20,574
20,574
120
120
20,000
(33,000)
(13,000)
7,694
44,065
51,759		 2023
£
(42,457)
(42,457)
252
252
13,000
-
13,000
(29,205)
73,270
44,065

The notes form part of these financial statements

Page 7

ESO (2006) Limited

Notes to the Cash Flow Statement for the Year Ended 31st August 2024

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2024
£
Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)
(33,996)
Adjustments for:
Depreciation charges
149
Interest received
(120)
Decrease/(increase) in debtors
37,584
Increase/(decrease) in creditors
16,957
Net cash provided by/(used in) operations
20,574
ANALYSIS OF CHANGES IN NET FUNDS
At 1.9.23
Cash flow
At
£
£
Net cash
Cash at bank
44,065
7,694
44,065
7,694
Debt
Debts falling due within 1 year
(13,000)
13,000
(13,000)
13,000
Total
31,065
**20,694 **		 2023
£
48,509
156
(252)
(84,326)
(6,544)
(42,457)
31.8.24
£
51,759
51,759
-
-
51,759

2. ANALYSIS OF CHANGES IN NET FUNDS

The notes form part of these financial statements

Page 8

ESO (2006) Limited

Notes to the Financial Statements for the Year Ended 31st August 2024

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling, which is the Charity's functional currency. All financial information presented in sterling has been rounded to the nearest pound, except when otherwise indicated.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from grants and donations is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Income from grants is only deferred when the charity has to fulfil conditions not yet met before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from the provision of sponsorship, courses, performances and other services are recognised on delivery of those services.

Income from the sale of CDs is recognised when the customer takes ownership of the CD.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Music library - 5% on reducing balance Computer equipment - 20% on cost

TAXATION

The charity is exempt from corporation tax on its charitable activities.

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 restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

PENSION COSTS

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

DONATED SERVICES

Donated facilities and services when received, provided the value of the gift can be measured reliably, on the basis of the value that the charity would pay in the open market for an alternative item that would provide a benefit to the charity equivalent to the donated service. Where the value of the gift cannot be measured reliably, no provision is included within the accounts.

Page 9

continued...

ESO (2006) Limited

Notes to the Financial Statements - continued for the Year Ended 31st August 2024

1. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS

The charity has elected to apply the provisions of Section 11' Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the charity becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction.

CONCESSIONARY LOANS

Concessionary loans received from third parties on which no interest is to be charged are measured at historical cost.

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

The valuation of donated services (both within income and expenditure) is based on estimations of what the charity would pay in the open market for an alternative item that would provide a benefit to the charity equivalent to the donated service. Donations were in the form of room hire, marketing and other concert costs and were provided by various donors.However, these valuations are subject to a number of assumptions that cannot be directly verified and may vary to the actual prices that the charity would pay for acquiring equivalent services on the open market.

During the year ESO (2006) Limited received donated services & facilities valued at £59,306 (2023 - £57,462).

3. DONATIONS AND LEGACIES

Donations
Grants
Donated services & facilities		 2024
£
18,343
136,877
59,306
214,526		 2023
£
52,659
233,833
57,462
343,954

Page 10

continued...

ESO (2006) Limited

Notes to the Financial Statements - continued for the Year Ended 31st August 2024

3. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

Arts Council England
Worcester City Council
Grants from charitable trusts less than £20,000 each
4.
OTHER TRADING ACTIVITIES
Sponsorship income
5.
INVESTMENT INCOME
Bank interest
HMRC interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Performance income
Concerts
Course fees
Education
Shop sales
Education
Other income
Other Activities
7.
CHARITABLE ACTIVITIES COSTS
Concerts
Education
Support Costs		 Direct
Costs (see
note 8)
£
359,039
64,835
-
423,874		 2024
£
69,750
-
67,127
136,877
2024
£
288
2024
£
120
-
120
2024
£
78,091
86,865
2,726
-
167,682
Support
costs (see
note 9)
£
-
-
78,021
78,021		 2023
£
97,954
8,000
127,879
233,833
2023
£
3,303
2023
£
195
57
252
2023
£
107,229
82,888
12,016
387
202,520
Totals
£
359,039
64,835
78,021
501,895

Page 11

continued...

ESO (2006) Limited

Notes to the Financial Statements - continued

for the Year Ended 31st August 2024

8. DIRECT COSTS OF CHARITABLE ACTIVITIES

8.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Musician's & courses fees
Soloists & conductor's fees
Hire of halls, music and instruments
Marketing & publicity
Other production costs
Event management fees
9.
SUPPORT COSTS		 2024
£
219,147
68,420
53,173
57,957
8,021
17,156
423,874		 2023
£
276,924
78,803
35,759
66,621
31,193
28,083
517,383
Governance
Management
costs
£
£
Support Costs
73,581
4,440
Support costs, included in the above, are as follows:
2024
Support
Costs
£
Wages
49,080
Pensions
1,004
Subcontractors - general administration
-
Subcontractors - grant manager
13,287
Bookkeeper
4,211
Insurance
1,614
Subscriptions and licences
2,393
Other support costs
1,391
Bank charges
452
PR manager
-
Depreciation on tangible fixed assets
149
Independent examiner's fees
4,440
78,021
10.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2024
£
Depreciation - owned assets
149
Donated services
**(59,306) **

Page 12

continued...

ESO (2006) Limited

Notes to the Financial Statements - continued for the Year Ended 31st August 2024

11. INDEPENDENT EXAMINER'S FEES

Fees payable to the charity's independent examiner is as follows:

Independent examination
Assurance work regarding grant funding returns
Theatre tax credit and gift aid claim submissions
Bookkeeping and payroll services
Companies House filings		 2024
£
2,220
2,220
990
3,139
82
8,651		 2023
£
2,760
3,840
-
2,342
61
9,003

12. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st August 2024 nor for the year ended 31st August 2023.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31st August 2024 nor for the year ended 31st August 2023.

13. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Chief Executive Officer
Administrator		 2024
£
49,080
1,004
50,084
2024
1
1
2		 2023
£
42,000
983
42,983
2023
1
-
1

No employees received emoluments (excluding pension costs) in excess of £60,000.

Total remuneration (including pension costs) paid to key management for the year was £43,004 (2023 - £42,983).

14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
142,864
Charitable activities
Concerts
106,146
Education
79,899
Other Activities
387
Other trading activities
3,303
Investment income
252
Tax credits
121,316
Total
454,167		 Restricted
funds
£
201,090
1,083
15,005
-
-
-
-
217,178		 Total
funds
£
343,954
107,229
94,904
387
3,303
252
121,316
671,345

Page 13

continued...

ESO (2006) Limited

Notes to the Financial Statements - continued for the Year Ended 31st August 2024

14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
EXPENDITURE ON
Charitable activities
Concerts
340,134
158,072
Education
3,132
16,045
Support Costs
54,279
51,174
Total
397,545
225,291
NET INCOME/(EXPENDITURE)
56,622
(8,113)
RECONCILIATION OF FUNDS
Total funds brought forward
130,288
11,642
TOTAL FUNDS CARRIED FORWARD
186,910
3,529
15.
TANGIBLE FIXED ASSETS
Music
Computer
library
equipment
£
£
COST
At 1st September 2023 and
31st August 2024
6,711
3,638
DEPRECIATION
At 1st September 2023
3,742
3,638
Charge for year
149
-
At 31st August 2024
3,891
3,638
NET BOOK VALUE
At 31st August 2024
2,820
-
At 31st August 2023
2,969
-
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Trade debtors
-
Theatre tax credits
93,774
Accrued income
29,144
Prepayments
2,173
**125,091 **		 Total
funds
£
498,206
19,177
105,453
622,836
48,509
141,930
190,439
Totals
£
10,349
7,380
149
7,529
2,820
2,969
2023
£
1,549
132,280
26,651
2,195
162,675

Page 14

continued...

ESO (2006) Limited

Notes to the Financial Statements - continued for the Year Ended 31st August 2024

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other loans (see note 18)
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Concessionary loans		 2024
£
-
18,298
1,627
209
3,093
23,227
2024
£
-		 2023
£
13,000
-
1,867
209
4,194
19,270
2023
£
13,000

18. LOANS

Concessionary loans

Concessionary loans relates to an interest free loan provided by one of the trustees which is repayable on demand.

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
The Bransford Trust
Care Home Fund
Recording Project Fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Arts Council England - Music For Humans
The Bransford Trust
Care Home Fund
ESO Youth
Recording Project Fund
TOTAL FUNDS		 At 1.9.23
£
186,910
-
-
3,529
3,529
190,439
Incoming
resources
£
351,341
68,500
3,500
33,038
500
11,020
116,558
467,899		 Net
movement
At
in funds
31.8.24
£
£
(52,678)
134,232
534
534
7,128
7,128
11,020
14,549
18,682
22,211
(33,996)
156,443
Resources
Movement
expended
in funds
£
£
(404,019)
(52,678)
(68,500)
-
(2,966)
534
(25,910)
7,128
(500)
-
-
11,020
(97,876)
18,682
(501,895)
**(33,996) **

Page 15

continued...

ESO (2006) Limited

Notes to the Financial Statements - continued for the Year Ended 31st August 2024

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.9.22
£
Unrestricted funds
General fund
130,288
Restricted funds
Care Home Fund
11,642
Recording Project Fund
-
11,642
TOTAL FUNDS
141,930
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
454,167
Restricted funds
Arts Council England - Musical Life in Elgar
Country
97,955
Arts Council England - Mayflower on the
Sea of Time
39,250
Care Home Fund
9,399
CEO Fund
40,000
The Epic Of Gilgamesh
3,000
ESO Youth
16,045
Recording Project Fund
11,529
217,178
TOTAL FUNDS
671,345		 Net
movement
At
in funds
31.8.23
£
£
56,622
186,910
(11,642)
-
3,529
3,529
(8,113)
3,529
48,509
190,439
Resources
Movement
expended
in funds
£
£
(397,545)
56,622
(97,955)
-
(39,250)
-
(21,041)
(11,642)
(40,000)
-
(3,000)
-
(16,045)
-
(8,000)
3,529
(225,291)
(8,113)
(622,836)
48,509

Arts Council England - Music For Humans

Relates to funding received from Arts Council England to fund performances undertaken by the English Symphony Orchestra.

Arts Council England - Musical in Elgar Country

Relates to funding received from Arts Council England, supported by other grant providers, to fund performances undertaken by the English Symphony Orchestra.

Arts Council England - Mayflower on the Sea of Time

Relates to funding received from both an external Arts Council England funded project and a private individual to organise a concert which includes a performance of Philip Sawyers' 'Mayflower on the Sea of Time'.

Bransford Trust Fund

Relates to funding received from the Bransford Trust to assist with running ESO Youth harp days and relaxed performances.

Care Home Fund

Relates to funding received from The Eveson Charitable Trust, Rathbone and various individual donors and other charitable trusts to organise a series of concerts performed at residential care homes.

CEO Fund

Relates to funding received from John Ellerman Foundation to help finance the employment of a chief executive officer.

Page 16

continued...

ESO (2006) Limited

Notes to the Financial Statements - continued for the Year Ended 31st August 2024

19. MOVEMENT IN FUNDS - continued

The Epic Of Gilgamesh

Relates to a donation received from an individual to organise a concert inspired by the Epic Of Gilgamesh.

ESO Youth Fund

Relates to funding received from various individual donors and charitable trusts to provide an education in orchestral music for young individuals.

Recording Project Fund

Relates to funding received from The Stephen R Gerber Trust to fund a recording project.

20. RELATED PARTY DISCLOSURES

J T Godfrey, a trustee of the charity, gave the charity donations totalling £90 (2023 - £nil). At the year end the charity owed J T Godfrey £nil (2023 - £13,000) in regards to an interest free concessionary loan which is repayable on demand.

Music Company International Limited, a company controlled by M G Mueller who is a trustee of the charity, provided support in kind totalling £2,000 (2023 - £nil).

Page 17

ESO (2006) Limited

Detailed Statement of Financial Activities for the Year Ended 31st August 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Donated services & facilities
Other trading activities
Sponsorship income
Investment income
Bank interest
HMRC interest
Charitable activities
Course fees
Performance income
Shop sales
Other income
Tax credits
Tax credits current year
Total incoming resources
EXPENDITURE
Charitable activities
Musician's & courses fees
Soloists & conductor's fees
Hire of halls, music and instruments
Marketing & publicity
Other production costs
Event management fees
Support costs
Management
Wages
Pensions
Subcontractors - general administration
Subcontractors - grant manager
Bookkeeper
Insurance
Subscriptions and licences
Other support costs
Bank charges
PR manager
Carried forward		 2024
£
18,343
136,877
59,306
214,526
288
120
-
120
86,865
78,091
2,726
-
167,682
85,283
467,899
219,147
68,420
53,173
57,957
8,021
17,156
423,874
49,080
1,004
-
13,287
4,211
1,614
2,393
1,391
452
-
73,432		 2023
£
52,659
233,833
57,462
343,954
3,303
195
57
252
82,888
107,229
12,016
387
202,520
121,316
671,345
276,924
78,803
35,759
66,621
31,193
28,083
517,383
42,000
983
28,200
13,460
2,403
1,314
1,294
1,752
591
6,700
98,697

This page does not form part of the statutory financial statements

Page 18

ESO (2006) Limited

Detailed Statement of Financial Activities for the Year Ended 31st August 2024

Management
Brought forward
Depreciation
Governance costs
Independent examiner's fees
Total resources expended
Net (expenditure)/income		 2024
£
73,432
149
73,581
4,440
501,895
**(33,996) **		 2023
£
98,697
156
98,853
6,600
622,836
48,509

This page does not form part of the statutory financial statements

Page 19