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
1
Draft 11/11/24
## **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.
2
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.
3
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
4
Draft 11/11/24
## **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|
5
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
6
Draft 11/11/24
**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|
|---|---|
7
Draft 11/11/24
**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|
8
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.
9