2023-12-31-accounts

Draft 11/11/24

THE HANOVER BAND FOUNDATION

Registered charity number: 1138061

TRUSTEES' REPORT AND ACCOUNTS FOR THE PERIOD FROM 1 JULY 2022 TO 31 DECEMBER 2023

Draft 11/11/24

THE HANOVER BAND FOUNDATION

CONTENTS

	Page
Charity information	1
Trustees' Report	2 to 4
Statement of Financial Activities	5
Balance sheet	6
Notes to the financial statements	7 to 9

Draft 11/11/24

THE HANOVER BAND FOUNDATION

CHARITY INFORMATION

Chairman Laurie Watt Trustees Laurie Watt David Cooper MBA FCA Ken Bodfish OBE (retired 29 September 2023) Stephen Neiman (appointed 29 September 2023) Charity Registration Number 1138061 Principal Address Tarrant Place 65 Tarrant Place Arundel BN18 9DJ Website www.thehanoverband.com

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THE HANOVER BAND FOUNDATION

TRUSTEES' REPORT

FOR THE PERIOD FROM 1 JULY 2022 TO 31 DECEMBER 2023

The Trustees present their report and accounts for the 18 month ended 31 December 2023.

The Trustees have informally assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate the exposure to major risks. Grant applications are considered by the Trustees and grants are given to deserving cases consistent with the charity's objectives.

Statement of Public Benefi t

The Foundation has complied with the Charities Act 2011 requiring the organisation to have due regard to the public benefit guidance published by the Charities Commission. The Foundation's charitable objectives are to educate and inform the public in the performance practices of the 17th, 18th and 19th centuries, via concerts and outreach programmes which are undertaken through the following activities:

1. Expanding educational projects that link historical events and inventions with music. Such projects, under the generic title 'Nurturing the Next Generation', give opportunities to young students to engage in tutorials, courses and performances with members of The Hanover Band;

2. Encouraging attendance at concerts by children and young adults through a subsidised ticket scheme, and, where practicable, encouraging young students to attend rehearsals and engage with the players on a one-to-one basis;

3. Organising regular courses and workshops in music of the 17th-19th centuries for our audiences;

4. Performing baroque and classical repertoire in key supported communities in London and the South East;

5. The development of The Hanover Band record label, firstly by licensing Hanover Band recordings from the back catalogue and also through recordings for release on the new label;

6. Developing further The Hanover Band as an organisation of artistic excellence and ambitious vision.

Charity Structure and Risk

There are currently three Trustees who govern the charity and meet quarterly. Their duties, inter alia, include the assessment of artistic and financial plans to ensure that they are consistent with the Charity's objectives; and the evaluation of risks facing the Trustees in pursuing their aims.

The day to day administration of the charity is undertaken by the Chief Executive Officer, and his team who conduct the charity's affairs, within the framework and budget set by the Trustees. The Trustees have resolved to broaden the skill base of the Board and have also appointed a separate advisory Development Board.

Their primary responsibility is the identification and delivery of medium- and long-term funding to enable the expansion of the orchestra's performance, recording and education activity.

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Draft 11/11/24

THE HANOVER BAND FOUNDATION

TRUSTEES' REPORT

FOR THE PERIOD FROM 1 JULY 2022 TO 31 DECEMBER 2023

Induction of New Trustees

As part of the process of induction of a new Trustee, consideration is given to their skills, knowledge and experience needed for the effective governance of the charity. New Trustees are given a copy of the trust deed, latest report and accounts, appraised of the application of the charitable objectives and advised of their legal obligations as laid down by statute.

Financial Review

The financial statements have been prepared in accordance with the accounting policies set out on page 10 and comply with the governing document, statutory requirements and the Statement of Recommended Practice Accounting and Reporting by Charities (SORP), applicable to charities.

All income is treated as unrestricted funds and is recognised in the financial year in which the gift is received.

The Statement of Financial Activities is shown on page 8. Total income for the eighteen months was £626,433 (12 months to 30 June 2022: £380,787), and net deficit was £104,133 (2022 £40,395). The challenge is to match the receipt of voluntary income against the expenditure on concerts, education and outreach. The Trustees regularly monitor the Charity's finances and where necessary have relied on borrowings to assist cash flow.

The Trustees confirm that the Charity's assets, together with pledged income, are available and adequate to fulfil the Foundation's obligations, and acknowledge, the need to re-establish a robust reserves policy.

There is no doubt, that the effects of the pandemic remain a problem in attracting audiences tour our concerts. Although our box office income has been sustained over the eighteen-month period under review and our subscriber patrons have remained totally loyal, we are experiencing a lower attendance at concerts, despite those attending having bought tickets.

The period in review has not been easy, but Trustees have taken solace from the continual financial support of the Patrons towards the Charities work, which has enabled the Foundation to switch it’s concert giving programme to a schedule of engagements that produce an income to the Foundation over the next eighteen months.

Working in Partnerships:

The Foundation recently announced a new partnership with ICCM to perform and record Beethoven’s Missa Solemnis (from a new edition published by Barenreiter and to be recorded by Signum Records); a partnership with Leon Bosch to perform and record the 40 previously unpublished symphonies of Viennese composer Johannes Matthias Sperger (1750-1812) for Naxos Records.

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Draft 11/11/24

THE HANOVER BAND FOUNDATION

TRUSTEES' REPORT

FOR THE PERIOD FROM 1 JULY 2022 TO 31 DECEMBER 2023

Musical and Artistic Direction:

The Foundation will be announcing in the Spring 2025 to appoint a new Music Director and General Manager for the Orchestra from January 2026.

Finally, I should like to take this opportunity to thank my colleagues for their time, support and guidance through a very difficult and challenging time for the Foundation. I should also like to record my thanks to Stephen Neiman for without him and his consummate enthusiasm and positive leadership many of the projects would not have been delivered. Stephen became a trustee in September 2023 and from that point does not draw a salary.

Laurie Watt

Chair of Trustees

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THE HANOVER BAND FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

Note INCOME Voluntary donations Event and engagement income Grant income Job retention scheme grants Total Income EXPENDITURE Charitable expenditure 2 Administrative expenses 4 Bank & legal charges 4 Interest payable Total Expenditure Net movement in funds Total funds brought forward Total funds carried forward Net (deficit)/income	General fund £ 444,287 157,146 25,000 - 626,433 580,771 136,404 3,992 9,399 730,566 (104,133) (104,133) 25,954 Unrestricted Funds (78,179)	2023 Total £ 444,287 157,146 25,000 -	2022 Total £ 215,178 64,288 95,904 5,417
		626,433	380,787
		580,771 136,404 3,992 9,399	269,347 149,385 78 2,372
		730,566	421,182
		(104,133)	(40,395)
		(104,133) 25,954	(40,395) 66,349
		(78,179)	25,954

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Draft 11/11/24

THE HANOVER BAND FOUNDATION

BALANCE SHEET

Notes Fixed assets Intangible assets Tangible assets 3 Current assets Stocks and goods for resale Debtors 6 Cash at bank Creditors and loans 5 Net current (liabilities)/assets Total assets less current liabilities Loans greater than 1 year 6 Total assets less current liabilities Represented by: Unrestricted funds: General funds 7 Total funds	£ 30,865 42,206 12,030	2023 £ 21,000 3,555 24,555 (84,576) (60,021) (18,157) (78,178) (78,179) (78,179)	£ 30,865 95,897 13,270	2022 £ 21,000 5,688
	85,101 (169,677)
				57,991 (32,037)
				25,954
				25,954
				25,954

The financial statements were approved by the Trustees and authorised for issue on …...................... and signed on behalf of the Trustees by

Laurie Watt Chairman

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THE HANOVER BAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD FROM 1 JULY 2022 TO 31 DECEMBER 2023

1 Principal accounting policies

Basis of accounting

The financial statements have been prepared in accordance with applicable law and UK Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Income

Donations and grants are accounted for on receipt or when receivable from donors who have pledged with reasonable certainty, at the estimated value of investments donated, or the actual value of cash donated. Project grants are accounted for either upon receipt or when in the case of a specific project grant crossing two or more financial years the project grant shall be recognised at the beginning of the project planning by the charity and recognised in the Statement of Financial Activities. Other voluntary income and donations, and any gift aid relief, are accounted for on receipt by the charity, and recognised in the Statement of Financial Activities.

Expenditure

Expenses and grants payable are recognised in the accounts when they are incurred by the charity.

Depreciation

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value, of each asset over its expected useful life. The useful economic lives of expedition equipment items are reviewed and adjusted annually. The brought forward values are then written off over this period. Depreciation is calculated on the following basis:

calculated on the following basis:
Music library	Nil
Equipment & fittings	20% straight line basis
Computers & peripherals	20% straight line basis

Reserves

The charity holds reserves in order to fund future charitable activities and grants in furtherance of the charitable objectives.

2 Charitable expenditure

Events costs Artists' fees Education projects Recording costs Fundraising costs	Unrestricted funds 2023 2022 £ £ £ 128,885 128,885 33,176 431,324 431,324 189,193 7,462 7,462 13,837 3,000 3,000 7,267 10,100 10,100 25,874 580,771 580,771 269,347

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THE HANOVER BAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD FROM 1 JULY 2022 TO 31 DECEMBER 2023

3 Fixed assets

Cost At beginning of period At end of period Depreciation At beginning of period Charge for the period At end of period Net book value At 31 December 2023 At 30 June 2022 All fixed assets are held in direct furtherance of the charity's objects. 4 Administrative expenses Rent and rates Wages and salaries Staff training and welfare Meetings expenses Cleaning Advertising and leaflet distribution Telephone Travel & subsistence Printing, postage & stationery Repairs and maintenance - General Depreciation Insurance Computer & website costs Subscriptions and conference Equipment hire Sundry expenses	Music library £ 21,000 21,000 - - - 21,000 21,000	Office equipment £ 14,920 14,920 9,232 2,133 11,365 3,555 5,688 2023 2022 £ £ 4,064 8,745 89,907 120,385 5,550 1,835 - 1,282 - - 4,809 - 4,638 1,879 7,813 4,531 1,775 1,004 5,273 2,133 1,655 1,421 984 3,705 2,917 2,071 1,758 347 780 2,898 1,630
		136,404 149,385

4 Other expenditure

Legal fees Bank charges Accountancy Independent Examiners' fee	Unrestricted funds 2023 2022 £ £ £ 2,143 2,143 - 599 599 78 1,250 1,250 - - - -
	3,992 3,992 78

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Draft 11/11/24

THE HANOVER BAND FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD FROM 1 JULY 2022 TO 31 DECEMBER 2023

6 Debtors Debtors and accrued income Other debtors 5 Creditors: amounts falling due within one year Trade creditors VAT & PAYE/NIC taxes Sundry creditors and accruals Bank overdraft Loans	2023 2022 £ £ 856 95,897 41,350 -
	42,206 95,897
	38,073 21,182 87,681 64,148 1,248 14,999 8,148 - 34,527 8,400
	169,677 108,729

6 Creditors: amounts falling due after one year

Creditors: amounts falling due after one year
Bank Loans	18,157 32,037
	18,157 32,037

A £42,000 Bounce Back Loan was received in May 2020, which was increased in December 2020 by a further £8,000. The amount repayable in the next year is £8,400 (2022: £8,400).

7 Analysis of fund balances: movement in resources

At beginning of period £ Unrestricted funds General fund 25,954 Total Unrestricted Funds 25,954	Incoming resources £ 626,433 626,433	Outgoing resources £ (730,566) (730,566)	At end of period £ (78,179)
			(78,179)

8 Registered charity

The charity is registered in England (No. 1138061) and as such is not liable to tax.

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