REGISTERED CHARITY NUMBER: 1151321 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR THE PEOPLE'S ORCHESTRA E R Grove & Co Limited Grove House Coombs Wood Court Steel Park Road Halesowen Wesl Midlands 862 8BF
THE PEOPLE'S ORCHESTRA CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Independent Examine$ Report ststement of Flnancial Actlvltles 10 Balance Sheet Cash Flow Ststement 12 Notè8 to the Cash Flow Ststement 13 Note8 to the Financial Ststements 14 10 20 Detalled Statement of Financlal Actlvltie8 21
THE PEOPLE'S ORCHESTRA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report with the financial statements of the chaflty for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191 OBJECTIVES AND ACTIVITIES Objectives and aims To advance. improve. develop and maintain the public education, health and appreciation of the arts and music in all aspects by any means the Iruslees see fil. including Ihough the presentation of public concerts, events and the maintenance of musical ensembles To further such charilable purpose or purposes al the trustees in their absolute discretion shall think fit particularly through bursaries. Significant activities The People's Orchestra has successfully provided opportunities lo local communities lo appreciate and participate in live orchestral music and choral performances The Orchestra has placed significant importance on ils role in providing volunteering opportunities and these have provided tangible employment OL*lcomes. In recognition of this service the People's Orchestra was awarded the Queen's Award fof Voluntary Service in 2021 and became a National Portfolio Organisation in 2023. By developing a new way in which orchestras and choirs are organized. structured and performed we offer more amateur musicians the opportunity lo continue lo develop their skills and perform. Our structure also supports the employment of a wider number of arts professionals across a number of disciplines thus conlribuling lo their ongoing development and creating sustainable financial models lo enable them lo remain working within the arts In Sandwell. whilst at the same lime expanding around the whole of the United Kingdom, including South Wales and the northern Highlands of Scotland. The organisalions model of using a number of volunteer placements creates further opportunities for arts managers and adminislratofs lo get involved in a live orchestra or choir and gain important expefience of 811 aspects of orchestra and choir life. This strengthens their CVS and opens doors lo further employment opportunities The charity also seeks to create a number of legacies and archives through the creation of new compositions. licensing and the capture of perfomiances which can be released on a number of digital and media platforms. The evidence base relating lo the positive effects of music making and music education has grown exponentially. Working alongside our partners. The Peoples Orchestra is helping lo change the landscape of amateur music making in the Midlands as academic institutions. government departments and a range of researchers around the world, publish Studies Showing how music can transform lives. 11 is a fact that music making. and the power of creative expression can change lives for the better. Page 1
THE PEOPLE'S ORCHESTRA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Public benefit The primary objective of The People's Orchestra Is lo advance. Improve, develop and maintain public education. and appreciation of, the arts and music, including public concerts. (ecilals and the maintenance of musical ensembles. To further such charitable purpose or purposes as the Iruslees, in their absolute discretion shall think fit, particularly through the making of grants, bursaries and donations The Iruslees confirm that they have referred lo the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and In planning future activities and setting the grant making policy for the year In line with this guidance, The People's Orchestra Charity has always aimed to support any membef of the public who can play any instrument to a grade 7 slandard or above and who wishes lo loin. The charity provides a music plarfomi to allow these musicians lo continue lo perform and leam and awards grants, bursaries and donations lo musicians with low income should funds be available. Monies may be made available lo musicians lo cover membership fees, travel costs and other educational costs. The charity also provides musicians with educational opportunities lo increase their cfealive learning This may be through workshops and courses. lo increase mL¢sicians learning, performance skills and includes specialist leaching as required, hosting public concert, recitals and other events for the benefit of players and members of the public. The charity also increases awareness of orchestra playing lo reduce elitism by working with and support other charities with similar purposes {music and arts). Charity Iruslees have a duly lo report in the Trustee's Annual Report on their charity's public benefit. They should demonslrale Ihal.. The people who receive support are enlilled lo do so according lo criteria sel out in the charity s objects. All The People's Orchestra'5 projects are cenlered on adults and young people. Trusle6s have therefore satisfied themselve5 that The People's Orchestra meets the public benefit reouiremenls, and they confirm that they have laken due regard of the Charity Commission's general guidance on publi¢ benefit. A number of quotes from volunteers demonstrate the value The People's Orche51ra ha5 added lo volunteerfs lives.. Since leaving The People's Orchestra, I went on to set up my own community intere81 company. MASA Creatives, a creative agency sourcing work, training and exhibition plaiforms- I have le8rnl a lol during my lime at The People's Orchestra. bul the most important of all has probably been learning the process behind turning an initial markeling idea into a reality" "I have learnt the important concepls of employment, responsibility, organizing and working hard" Page 2
THE PEOPLE'S ORCHESTRA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities We believe that if people challenge themselves, reach for Iheir goals and believe in what they are doing. they can change their lives and the lives of those around them for the better. By providing positive settings, we are able lo build self-confidence and skills, whilst sUPPOrting wellbeing. We accomplish this through hosting greal live musi performances. Following Covid, in 2022 and 2023 we became involved in the UK Government Kickstart program which was designed lo help young people, under 25, gain useful employment through work experience. training and encouragement. The organizalion was able to offer 44 young people the opportunity lo work with the Orchestra and Choifs. and of those 19 went on lo gain permanent employment. The organizalion has also given continuing employment lo four young people from the programme who are developing their skills and knowledge of the sector The People's Orchestra has a huge social impact, including.. Providing 4000+ work placement days per year for unemployed people Helped 1200+ unemployed people closer into work, education of training since inception Raised awareness and support of good causes including suicide, blood cancer and the donor register unernploymenl and social welfare. mental health, male For every £1 invested in The People's Orchestra, £27 is invested back Into the communilylindependently verified) Our artistic impact is also impressive., Supported new composition held in the Dream Works Library Provide over 1,000 hours professionally led training sessions each year for up lo 250 musicians and almost 1,000 choral performers World and UK premiere performances and commissions by award winning composers Live lo film performances with musicians composinglperforming original scores Award winning music students gain marks In excess of 920/0 in final year projects Our Reach Seen by over one million people al the Commonwealth Games handover Ceremony Performed 10 live events to over 5000 people The charity exceeded ils performance largels and ils promotion through traditional and social media channels was many limes higher than expected Inearly 1 million per year) Orchestral music engagement increased among local audiences. as measured by the number of people allending a The People's OrGheslTa concert as their first laste of live classical music. We estimate around 3,000 people who were entirely new to live classical music attended over a the pèriod since covid. Additional opportunities have now been afforded to musicians who have not played for a few years. bul still wish lo perform in our Rusty Players Orchestras and a more specialist The Peoples Big Band, both for prolamateur players lo train, gain confidence and perfom. We have also created a new opportunity for under-represented communities to be involved in Orchestra music with Ihe creation of a Global Majority Orchestra This Orcheslia has preformed several concerts during the financial year and Is growing constantly. Hosting seven Show Choirs and massed choir and orchestra concerts. enabling those with no performing experience lo show off their newly acquired skills. Audience feedback showed strong satisfaction wilh the standard of the pertormance5, Wlth 90Vo believing that the performance was 'very good, {the highest possible rating) and the remaining 10°/tr believing the performance was good. There was no negative feedback other than one lo¢alion where access was restricted and lighting poor for the audience, Audience feedback conducled independently by Cloud Chamber in Aprillmay 2017 showed The majority of respondents (860/0} had seen a live performance from The People's Orchestra. and on average rated the orchestra's performance 9 OLrl of 10 (where 10 is the besl possible scorel In terms of overall satisfaction, the vast majority of respondenls (98D/o) would recommend The People's Orchestra lo a friend. Page 3
THE PEOPLE'S ORCHESTRA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Highlights include The orchestra was chosen by the BBC as one of the be51 and most inspirational orchestras in the UK recording at Maida Vale Studios and Halle St Peter5 fof the BBC series All Together Now. The Great Orchestra Challenge. Enabling 850 musicians lo perform music live by providing Ltp lo 750 hours of professionally led rehearsals and 16 live performances. Creating work experience opportunilies for 124 unemployed people with 81 Vo gaining paid employment Support 100 people with welfare benefit claims and entillemenls Helping create 6 new works and compositions Increased ils musical instrument bank Growing a library of music in excess of 240 pieces Working with Pfofessionals including conductors, composers and choirs The evaluation highlighted that The People's Ofcheslra has generated a range of extremely positive outcomes for ils main stakeholder 9roups' Players clearly enjoy the musical and social experience of being part of the orchestra. They have reported improved skills. greater self-confidence and an increased ability lo enjoy their music. They really appreciate being part of an organisalion Ihal also supports people into work through volunteering Judged on thei< employment outcomes. volunteers have gained important workplace skills and experience al The People's Orchèstra which serve them well when they leave. Audiences enjoyed themselves, and the concerts have brought orchestral music lo a significant proportion of the local population who would not otherwise have allended such a concert. Some notable comments from the verbatim responses from playèrs included th8 following., "Il gives me great joy being part of such a vibrant group of dedicated musicians. I've made new friends and done lols of exciting and varied gigs - concerts. flash mobs, a summer Ball, TV programmes, recording sessions, elc 'Being with like-minded in¢Jividuals that have a mutual passion for film music. It has massively helped improve my sight-reading skills which used to be a major Issue for me and would pul me off from gellin9 Involved with things due lo my lack of confidence In that area. Il's given me a real interest In 3 new genre of music which has18d lo having an idea of what I want lo do with my career in the future. "Gained more experience In orchestral work, meeting new people that I can musically associate with and playing wider varieties of repertoire. "I've mel and conversed with people who make music fun and enjoyable The People's Orchestra is a great way for people who wouldn't normally be exposed to playing in an ensemble the opportunity lo play In concerts and have the experience wilhoul any problerrt8." Respondents were asked about the wider skills The People's Orchestra has helped them develop 29 verbatim responses wer8 received. Many respondents reported a stronger sense of self-confiden¢e.' "Il gave me a big confidence boost in many ways from travelling about more lo mofe confidence leaching thè flute It has built my confidence and introduced me lo other like minded people who af8 now some of my closesl friendsl 'The People's Orchestra continues to help me lo develop my confidence, which I can take into other aspects of my life. I enjoy the friendly and supportive atmosphere of the orchestra" The Peoplè's Orchestra was also cited as building leam-working skills, given Its emphasi8 on collaboration within the or¢he51ra'. "Playing in an Ofcheslra helps you relate to others and helps you see the importance of team work. Patience. hard work. understanding, having fun and relaling lo others. All very uselul life skills Playing to audiences has Improved my confidence. "When having general meelings, I learnt how to appropriately air my views" Building on the emphasis on collaborative work of The People's Orchestra. improved communications skills wefe cited as an important skill developed by players.. For two participants. the project was important in helping them to deal with mental health issues.. Page 4
THE PEOPLE'S ORCHESTRA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 "Speaking as a Sufferer of depression. I have found my rnood swings afe less frequent I'vé had a bad lime personally Including a suicide altempl ..The People's Orchestra l.. I have really kept me going" The unique experience of The People's Orchestra was a highlight for some, in particular the opportunity lo record professionally was valued". 'The unique opportunities that we gel at The People's Orchestra. being on TV, being an on-stage band 81 events, flash mobbing and recording music fof composers all help d151inguish us from "just another instrumenlalisl" and I think this shows we have commitment which is beneficial whether looking for work or experience inside or outside of the music industry" Recording for the BBC allowed me to experience what Il would be like If l ever recorded a music video or went Into a professional orchestra in the future I have also improved in my orchestral playing, working with other musicians Other skills and experiences expressed Included being able lo Inspire others le.g. students of music teachers). development of friendships and the importance of socialising within the orchestra" Internal and external factorn study by the Gefman Socio-Economic Panel in 2013, staled the following "Music Improves cognitive and non-cognitive skills more than twice as much as sports. Ihealre or dance ' In addition, the study found that children who lake music lessons "have better school grades and are more conscientious, open and ambitious In addition lo the sheer joy of playing music, there are so many additional benefits 11 impfoves reading and verbal skills, and helps children gel good marks In exams. 11 raises IQ, encourages listening and helps children learn languages more quickly. 11 slrenglhens the motor cortex and improves working memory and long-lemi memory for visual stimuli. 11 helps people lo manage anxiety, enhances self-confidence, Belf-esteem and social and personal skills 11 slows the effects of ageingl That's got to be good newsl 11 also encourages Creativity - no Surprises there. Music also improves malhemalical and spalial-temporal reasoning. Research has shown that there are differences in the brains of children raised in impoverished environments that affect their ability lo learn. While more affluent students do better in school than children from lower income backgrounds, we are finding that musical training can aller the neThous system lo create a better learner and help offset this academic gap" Dr Nina Kraus, North Weslem University By encouraging musicians already taught lo Grade 7+ by local educational service provision lo continue playing and performing, new generations learn music and so becoming beller learner5. The People's Orchestra was established lo fill a gap which exists in the lack of opportunities lo play orchestral music for accomplished musicians who had left education and were not intending lo became professional musicians. Traditionally most opportunities lo play orchestral music are linked lo education such as via local music hubs and educational aulhorilies, schools. colleges and universities. Once an individual had left education, where they may have been playing orchestral music for many years, opportunities lo be part of an orchestra may no longer exist For many students leaving school. college or university meant their access lo music provision from local authorities and music hubs, Including leaching. the availability of opportunities to play as part of an orGhestra and somètimes access lo inslrumenls Gan be cut off abruptly So while Govèrnment and schools reduce the amount of music teaching available lo young people we feel The People's Orchestra should begin to position itself lo fill the gap and encourage music playing in the home, especially if not provided elsewhere. Page 5
THE PEOPLE'S ORCHESTRA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Financial position Total Income received during the year amounted to £498.78212023 £392,046) and lolal expenditure £497,784 12023 £428.7501. The nel increase In funds was £998 12023 decrease £36,704) The decrease in the Pfevious financial period was lafgely due lo expenditure being carried out al the start of the period, when the income had already been accounted foi Previously Arts Council England Gfanls were for National Lottery Proiecl Grants. £23.000, and National Portfolio. £200.000. Income Included donations and grants from the following organisations, wilhoul who the charity would not be able lo continue with the volume of chafltable work achieved on an annual basis. Arts Council England National Portfolio Grants, Arts Council England National Lottery Proiecl Grants Clolhworkers Foundation Garfield Weston Foundation John Feeney Charitable Trust Alex Ferry Foundation 29th May 1961 Charitable Foundation Ty Cerdd Charitable Trust Sainlbury TrLhSt Baron Davenport Trusl £200.000 £23.000 £15,000 £25.01)0 £5.000 £5,000 £3.000 £1,500 £1,000 £750 The People's Orchestra has learnt a lol about how to manage an orchestra and has become a much more experienced. successful and well-run organisation creating a strong foundation for the futLtre The chaflty still faces the same key ommon challenge that affects so many other orchestras and similar artistic enterprises, and that is the ability lo raise sufficient funding lo cover ils costs The map of sustainable income generation for The People's Orchestra will look very varied in the long term. because il is not a traditional orcheslfa, and for the many reasons which afe core lo ils ethos and success l&.g. volunteer involvement, amateur players. open access. focused on performing lo non-tradilional audiences). The rapid growth In the number of Choirs has also added lo the range of performances that are now offered. from the Global Majority Orchestra. playing more traditional orchestra music, through the Big Band to full Orchestra and choir ensembles with over 500 performers on stage al once. The People's Orcheslra earns 29.10 of ils income (which is judged encouraging result given the unique nature of what Is still a relatively new organizalionl and is the norm for orchestras of ils type This proportion will IncTease now that the orchestra is more established and a growing choral section. The People's Orchestra continues lo seek out ils own new ideas for income 9eneration. Re8errfe8 poIIcy As a registered charity, The People's Orchestra does not attempt lo generate profits The majority of ils funding. from Arts Council England, from grants and charitable donations, is ieceived in advance of expenditure, the interest derived from investment of these funds femains a source of income for the charity. The People's Orchestra is reliant on income streams over whi¢h il has limited control and therefore needs lo ensure that its core operational c051s can be covered for an appropriate period. should any of the income streams be unexpe¢ledly reduced or delayed Remuneration Policy The remuneration of the CEO is determined by Trustees by giving due consideration lo markel rates w¢thin the sector. performance and affordability Going concem The Challenges We Face The Covid Pandemic of 2020 resulted in the Orcheslras and Choirs having lo move online and restri¢led any performing opportunities until December 2021 During this time the Govemmenl provide support through Job Retention Scheme funding and The Arts Council provided support through various "Bounce Back" Grants. The Government also introduced the Kickslart Scheme where the Orchestra was able lo employ 44 young unemployed people lo work on Production. Adminislralion, Social Media and Graphic Design. This type ol support fit within the normal support offered to the unemployed through the volunteer schemo. with a salary supported by the Government This allowed The Peoples Orchestra to promote the organization through a period of bèing unable lo perfom) and also provided vital additional funding to cover basic operating Gosl5. STRUCTURE. GOVERNANCE AND MANAGEMENT Govemlng document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. The charity is a regislered Charity registered with the Charity Commission in England and Wales from 21 March 2013. Page 6
THE PEOPLE'S ORCHESTFIA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees The charity runs an open recruitment process for recruiting new Iruslees, advertising opportunities on Ils website Vacancies are also published through social media and other forums The 8oard looks for individuals with skills and experience that will complemenl and enhance the existing Board and progress the work of the charity Inductlon and tralning of new trustees Trustees are In regular contact with recognized sour¢es of training and professional development. Key management muneration Remuneration of key managernenl personnel Is managed by the CEO of the organization, along with the Finance Manager and Chair of the Board of Trustees. The Ofganization Is a 'Living Wage" employer and maintains al least that level or femuneralion for all employees. The organizalion maintains a full Risk Register following government guidelines and includes re¢ruilmenl and succession planning Total salaries (including National Insurancè and Pension conlributionsl were £272,762 in year ending March 2024, there were no Kickslart salaries within this peiiod, financed by government grant 12023 £169.563 and £41,764 kickstart, respectively}. Rlsk management The Board of Trustees. working alongside the senior management team, keep organizalional risk under review and mitigate risk with a range of measures including planning, Insurance and inlemal procedures. Main Rl8k8 Charitable fundraising becoming increasingly competitive post.Covid due to cost of living crisis. Mitigatlon - The organizalion became a National Portfolio Organisalion from the 1st April 2023 and has also has iwo trainee bid writers working alongside the existing resources. The aim is to develop these resources furthe¥ to maintain external funding levels. The organizalion h88 always kept the number of salaried staff at a minimLJm and offers work placements and volunteering opportunities lo students in felaled educational environments The organi2alion was awarded the Queens Award for Voluntary Service and has an exlended Ifack record of successftsl work placements. The Salaried slam are complimented by self-employed specialists in certain areas of Ihe business, such as Finance, Health and Safely and HR. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1151321 Prlncipal addre88 Town Hall Lodge Road Wesl Bfomwich 870 8DY Trustees Mrs S Marshall Ms A Sohal Mr A Sandham Mr J Powell Independent Examiner E R Grove & Co Limited Grove House Coombs Wood Court Steel Park Road Halesowen Wesl Midlands B62 8BF Page 7
THE PEOPLE'S ORCHESTRA REPORT OF THE TRUSTEES FOR THE YEAR ENDEO 31 MARCH 2024 Approved by order of the board of trustees on 26 July 2024 and signed on Its behalf by: £ LLIC., Mrs S Marshall- Trustee Page 8
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PEOPLE'S ORCHESTRA Independent exarninèr's report to the trustee8 of The People's Orchestra I report lo the charity Iruslees on rny examination of the accounts of The People's Orchestra (the Trust) for the yeaf ended 31 March 2024. Responsibilltles and basis of report As the charity Iruslees of the Trust you are responsible for the preparation of the accounts in accordance with the fequiremenls of the Charities Act 2011 I'lhe Act'i. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)Ib} of the Act. Independent examinees Statement Since your charity's gfOSS Income exceeded £250,000 your examiner musl be a member of a listed body. I can confirm that l am qualified lo undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have compleled my examination I confifm that no material matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect". accounting records were not kepl in respect of the Trust as required by Section 130 of the Act., or the accounts do not accord with Ih05e records. or the accounts do not comply with the applicable requirements concerning Ihe form and conlenl of accounts sel out In the Charities (Accounts and Reports) RegLSlalions 2008 other than any requirement that the accounts give a true and fair view which is nol a matter considered as part of an independent examination. I have na concerns and have come across no other maller5 in connection with the examination lo which attention should be drawn In this report In order to 8nable a proper understanding of the accounts lo be reached. Steven Lomas E R Grove & Co Limited Grove House Coombs Wood Court Steel Park Road Halesowen Wesl Midlands 862 88F 26 July 2024 Page 9
THE PEOPLE'S ORCHESTRA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 155.866 325,000 480,866 378.876 Other trading activities Other income 17.917 17,917 7432 5,738 Totsl 173,783 325.000 498,783 392,046 EXPENDITURE ON Raising funds 192 29,039 29.231 25,029 Charitable activities Concerts and performances Staff Costs Marketing and developing audiences 40,700 790 1,487 111,396 263,001 32,980 152,096 263,791 34,467 111,633 233,313 31,702 Other 5,293 12,907 18,200 27,073 Total 48,462 449.323 497,785 428,750 NET INCOMEIIEXPENDITURE) Transfers between funds 125,321 194 1124,3231 11941 998 (36,7041 13 Net rnovernent In funds 125,515 1124,517> 998 136,7041 RECONCILIATION OF FUNDS Total funds brought fOard 32,801 201.988 234,789 271.493 TOTAL FUNDS CARRIED FORWARD 158,376 77.471 235,787 234.789 The notes form part of these financial statements Page 10
THE PEOPLE'S ORCHESTRA BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted funds Notes FIXED ASSETS Tangible assets 38.743 43,471 82,214 36,810 CURRENT ASSETS Stocks Deblofs Cash at bank and in hand 10 2.832 114,421 63,186 2,832 114,421 97,186 23,780 187,851 34,000 180.439 34,000 214,439 211,631 CREDITORS Amounts falling due within one year 12 (60,8661 160,866) {13,652} NET CURRENT ASSETS 119,573 34.000 153.573 197,979 TOTAL ASSETS LESS CURRENT LIABILITIES 158,316 77,471 235.787 234,789 NET ASSETS 158,316 77.471 235,787 234,789 FUNDS Unreslricled funds Restricted funds 13 158,316 77.471 32,801 201,988 TOTAL FUNDS 235.787 234,789 The financial slalemenls were approved by the Board of Trustees and aulhonsed for issue on 26 July 2024 and were signed on its behalf by 3 IUO Mrs S Marshall - Twslee The notes form part of these financial statements Page11
THE PEOPLE'S ORCHESTRA CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 134,039} {12,1601 Nel cash used in operating activities 134,0391 (12,1601 Cash flows from investing activities Purchase of tangible fixed assets {56,6261 120,578) Nel cash used In investing activities 156.6261 120.578) Change In cash and cash equivalents Sn the reporting perlod Cash and cash equlvalents at the beginning of the reportSng perlod (90.6651 132,7381 187,851 220,589 Cash and cash equival8nts at the end of the reportlng period 97.186 187.851 The notes fofm part of these financial statements Page 12
THE PEOPLE'S ORCHESTRA NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET INCOMEIIEXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net incomellexpenditurel for the reporting period las per the ststement of Financial Activities) Adjustments for: Depreciation charges Profil on disposal of fixed assets Increase in stocks Ilncreaselldecrease in debtors Increase in creditors 998 136,71)41 11.222 8.080 11211 12.8321 190,641) 47,214 12,919 3.666 Net ca8h used In operatlons 134,039) {12,1601 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash al bank and in h8nd 187,851 190,665> 97.186 187,851 190.685) 97.186 Total 187,851 190,665) 97,186 The notes fom part of these financial statements Page13
THE PEOPLE'S ORCHESTRA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial slalemenls of the charity, which is a public benefit enlily under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and Ihe Charities Act 2011 . The financial statements have been prepared under the historical cost convention, Income All income Is recognised in the Statement of Financial Activities once Ihe charity has entitlement lo the funds. il is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal Of conslruclive obligalion committing the harity lo that expenditure. it is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably Expenditure Is accounted for on an accrua15 basis and has been classified under headings that aggTegate all cost related lo the category Wh8re costs cannol be diiectly attributed to particular headings they have been allocated lo activities on a basis consistent with the use of resources Tanglble flxed assets Depreciation Is provided al the following annual rates in order to write off each assel over its eslimaled useful Fixtures and fittings Molor vehicles Computer equipment 1 OVO on reducing balance 25Vo on Teducing balance 209h on reducing balance Sto¢k8 Stocks are valued al the lower of cost and n81 realisable value. after making due allowance lor obsolete and slow moving Items. Taxation The charity is exempt from lax on Its charitable activities. Fund accounting Uniestricled funds Gan be used in accordance with the charitable objectives at the discretion of the trusta88, Reslricled funds can only be used for particular reslricled purposes within the objects of the charity. Reslficlions arise when specified by the donor or when funds are raised for particular restricled purposes. Further explanation of the nature and purpose of each fund is included in the notes lo the financial stalemenls. DONATIONS AND LEGACIES 2024 2023 Membership fees Donations Grants 113,797 10.700 356,369 57,499 4.779 316.598 480.866 378,876 Grants received, included in the above. are as follows.. 2024 2023 Other grants 356,369 316,598 Page 14 continued...
THE PEOPLE'S ORCHESTRA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 OTHER TRADING ACTIVITIES 2024 2023 Ticket sales and merchandising 17,917 7.432 RAISING FUNDS Other trading actlvities 2024 2023 Support costs 29.231 25,029 CHARITA8LE ACTIVITIES COSTS Support costs {see note 6} Direct Costs Totals Concerts and performances Staff costs Marketing and developing audiences 152.096 263.791 152.096 263,791 34,467 34,467 415,887 34,467 450,354 SUPPORT COSTS Governance costs Management Depreciation Totals Other Ifading activities Other resources expended Marketing and developing audiences 7.664 12.907 34,467 5.929 5,293 15.638 29,231 18.200 34.467 55,038 11,222 15.638 81.898 TRUSTEES, REMUNERATION AND BENEFITS Trustee8' expense8 There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 98,483 280,413 378,876 Other trading activities Other income 6.324 5,738 1,108 7,432 5,738 Total 110.525 281.521 392,046 EXPENDITURE ON Raising funds 8.552 16,477 25,029 Charitable activities Concerts and performances Staff costs Marketing and d6veloping audiences {79.952) 133,299 29,847 191,585 100.014 1,855 111.633 233.313 31,702 Other 15.027 12.046 27.073 Page 15 continued.
THE PEOPLE'S ORCHESTRA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund funds Total funds Total 106,773 321,977 428,750 NET INCOMEIIEXPENDITUREI 3.752 140.4561 136.704) RECONCILIATION OF FUNDS Total funds brought fornvard 29,048 242.445 271,493 TOTAL FUNDS CARRIED FORWARD 32,800 201,989 234.789 TANGIBLE FIXED ASSETS Fixtures and fittings Motor vehicles Computer equipmenl Totals COST Al l April 2023 Additions 12,533 1,023 51,563 1,250 64.096 56.626 54,353 Al 31 March 2024 13,556 54,353 52,813 120.722 OEPRECIATION Al 1 April 2023 Charge for year 4,485 881 22.801 5,812 27,286 11.222 4,529 Al 31 March 2024 5,366 4.529 28,613 38.508 NET BOOK VALUE Al 31 March 2024 8,190 49.824 24,200 82,214 Al 31 March 2023 8,048 28.762 36,810 10. STOCKS 2024 2023 Stocks 2,832 11. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors Prepayments 4.363 55.415 54,643 533 3.884 19.363 114,421 23.780 Page 16 continued...
THE PEOPLE'S ORCHESTRA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 12. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Taxation and social security Other creditors 4,816 1,454 54,596 8.356 553 4.743 60,866 13.652 13. MOVEMENT IN FUNDS Net movement in funds Transfers beeen funds Al 31.3.24 At 1.4.23 Unrestricted funds General fund 32,801 125,321 194 158.318 Restricted funds Lottery grant Kickslart Designated Henry Smilh Small Tfusts Garfield Weston Projects Clothworkers 48.738 3.790 20,000 18,000 15,220 21,113 75,127 148,7381 17191 {2,7181 19.0001 19,2201 12,1131 {65.5651 13.750 (194> 2.877 17.282 9.000 6.000 19.000 9.562 13,750 201,988 {124,323) (194) 77,471 TOTAL FUNDS 234.789 998 235.787 Nel movement in funds. Included in the above are as follows.. Incoming resoufces Resources expended Movement In funds Unrestricted funds General fund 173,783 148,462) 125,321 Rostricted fund8 Lollery grant Kickstart Designated Henry Smith Small Trusts Garfield Weston Projects ACE General Clolhworkers ACE NPO 23,000 (71.7381 17181 12.7181 (45,000) {12.220} 127.113) 165,565) 123,0001 11.2501 (200,0011 (48,7381 {7191 12,7181 (9,000) (9,220) {2.113) 165,5651 36.000 3,000 25.000 23.000 15,000 200.001 13.750 325,000 {449,3231 1124.323) TOTAL FUNDS 498.783 1497.785) 998 Page17 continued..
THE PEOPLE'S ORCHESTRA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 13. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 31 3.23 At 1.4.22 Unrestricted funds General fund 29.048 3,753 32,801 Restricted funds Lottery grant Kickslart Designated Trusthouse Henry Smith Recovery Local giving Small Trusts Youth Music Garfield Weston Projects 21.000 24,605 20.000 11,730 7,920 3,000 10,735 1.500 26,978 25,000 89.977 27,738 (20,8151 48.738 3.790 20.000 {11,7301 10,080 13,0001 {10,7351 13,720 {26,9781 13,8871 114,8501 18,000 15,220 21,113 75,127 242.445 140,4571 201.988 TOTAL FUNDS 271,493 136,7041 234.789 Comp8rative nel movement in fvnds, included in the above are as follows. Incoming resources Resources expended Movement In funds Unrestrlcted funds General fund 110,525 1106,772) 3,753 Restricted funds Lottery grant Kickstart Truslhouse Henry Smith Recovery Local giving Small Trusts Youth Music Garfield Weston Proiecls 75,658 51,881 {47,9201 {72,6961 (11,7301 {39,7701 13,0001 {10,7351 122,1801 126.978> 128.887) 158.082) 27,738 120,815) 111,730) 10.080 {3,000) 110,735) 13.720 {26.9781 13.887) {14,8501 49.850 35,900 25.000 43.232 281,521 (321.978) 140.457) TOTAL FUNDS 392,046 (428,750) 136.704) Page 18 continued...
THE PEOPLE'S ORCHESTRA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 13. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows". Net movement in fL&nds Transfers beeen funds At 31.324 At 1.4.22 Unrestricted funds Genefal fund 29.048 129,074 194 158.316 Restrlcted funds Lottery granl Kick5tart Designated TTuslhouse Henry Smith Recovery Local giving Small Trusts Youth Music Garfield Weston Projects Clothworkers 21,000 24,605 20,000 11.730 7,920 3,000 10,735 1.500 26.978 25.000 89.977 121,0001 121,5341 12,7181 111,7301 1,080 13,0001 110.7351 4.500 126.978) 16.000} {80.4151 13.750 1194) 2.877 17,282 9,000 6,000 19,000 9,562 13.750 242.445 1164.7801 (194) 77.471 TOTAL FUNDS 271,493 135,7061 235.787 A current year 12 months and prior year 12 months combined net movement in funds, included in the above ar8 as follows.. Incoming resources Resources expended Movement in funds Unrestrictsd fund8 General fund 284,308 1155,234) 129.074 Restrlcted funds Lollery grant Kickslart Designaled Truslhouse Henry Smith Recovery Local giving Small Trusts Youth Musi Garfield Vveslon Projects ACE General Clolhworkers ACE NPO 98.658 51,880 (119,6581 173 4141 12,7181 111,7301 184 7701 13.0001 (10,7351 {34,400} {26.978} 156,000) 1123,647) 123,0001 11,2501 {200,0011 121.0001 121,534) {2,718) 111.730) 1.080 13,0001 (10.7351 4.500 126,9781 16.0001 180,415) 85,850 38,900 50.000 43.232 23.000 15.000 200.001 13,750 606,521 {771,3011 1164.7801 TOTAL FUNDS 890.829 1926.535) 135,708) Page 19 continued
THE PEOPLE'S ORCHESTRA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 14. CAPITAL COMMITMENTS 2024 2023 Contracted but not provided for In the financial slalements 54.353 15. RELATED PARTY DISCLOSURES The charity Is owed £55.415 12023. £60.0001 from The People's Production Cornpany Ltd. The People's Production Company Ltd is under the control of Mrs S Marshall. The amount owed Is lo cover the cost of future orcheslfal productions the proceeds of which will be made available lo the charity in due course The loan bears no interest. This loan has been fully repaid after the balance sheet dale bul before the date the accounts were approved. Page 20
THE PEOPLE'S ORCHESTRA DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacieg Membership fees Donations Grants 113,797 10.700 356.369 57,499 4.779 316,598 480,866 378,876 Other trading activities Tickel sales and merchandising 17.917 7.432 Other incomè Insurance proceeds 5,738 Total Incomlng resources 498.783 392,046 EXPENOITURE Charitable actlvities Concert and event costs Siaft - choir Staff - artistic Staff - social impact 62,762 98.467 209.487 45.171 109,800 49,639 135.524 46.555 415.887 341.518 Support cost8 Management Rent Insurance Subscriptions Postage and slalionery Motor expenses Marketing 7.664 857 6.689 10.689 1.361 27,778 17.080 858 8,201 7,846 1,595 24,579 55,038 60,159 Depreclation Fixtures and fillings Motor vehicles Computer equipment Loss on sale of tangible fixed assets 881 4,529 5,812 893 7.187 {1211 11,222 7,959 Governance costs Accountancy Book-keeping costs Management fees 1,512 14.126 2,184 10.930 6,000 15,638 19,114 Total ro$our¢¢$ exp¢nd¢d 497.785 428,750 Net Incomel{expendlturel 998 {36,7041 This page does not form part of the statutory financial statements Page 21