REGISTERED COMPANY NUMBER: 08253439 (England and Wales) REGISTERED CHARITY NUMBER: 1151704
Unaudited Financial Statements for the Year Ended 31 July 2022 for
The Bardi Orchestra (A Company Limited By Guarantee)
The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP
The Bardi Orchestra (A Company Limited By Guarantee)
Contents of the Financial Statements for the Year Ended 31 July 2022
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 to 11 |
| Notes to the Financial Statements | 1 2 to 18 |
| Detailed Statement of Financial Activities | 19 |
The Bardi Orchestra (A Company Limited By Guarantee)
Reference and Administrative Details for the Year Ended 31 July 2022
TRUSTEES J C Hanson (Chairman) T D Hobbs (Vice-Chairman - resigned 12.2.2022) R S Calow (Orchestra Manager) D R Calow J D Crew (resigned 12.2.2022) secretary until 12.02.2022) C A Taylor C Cowen (Treasurer) L H Clark (Secretary - appointed 24.11.2021) REGISTERED OFFICE 75 Severn Road Oadby Leicester Leicestershire LE2 4FW
REGISTERED COMPANY NUMBER 08253439 (England and Wales)
REGISTERED CHARITY NUMBER 1151704
INDEPENDENT EXAMINER The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP BANKERS National Westminster Bank plc Oadby Branch 5 The Parade Oadby Leicester LE2 5BB
Page 1
The Bardi Orchestra (A Company Limited By Guarantee)
Report of the Trustees for the Year Ended 31 July 2022
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 31 July 2022. 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).
The Charity is registered and is a company limited by guarantee governed by its Articles of Association dated 3 April 2013 and amended on 28 January 2018.
All Trustees, who are also Directors of the Company, are appointed annually, with nominations open to all paid-up members of the Orchestra. Nominations are voted on at the Annual General Meeting by those paid-up members present at the meeting. There must be a minimum of 4 directors and there is no maximum. There are no prescribed posts, other than the Chairman, and there are no particular requirements beyond those set in Company Law. Trustees are not required by the Articles to be members of the Charity or playing members of the Orchestras.
STRUCTURE, GOVERNANCE AND MANAGEMENT THE CHARITY
The Bardi Orchestra Limited is a Registered Charity, No. 1151704. The charity is a company limited by guarantee registered at Companies House in England and Wales, No. 08253439.
Its governing document is its Memorandum and Articles of Association; this document places no specific restriction on the way the company can operate or on its investment powers other than that the company is established for charitable purposes.
PRINCIPAL AIMS AND OBJECTIVES
The company's principal aims, as stated in its Articles of Association, are:
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a) to advance, improve, develop and maintain public education in, and appreciation of, the art and science of music in all its aspects by any means the directors see fit, including through the presentation of public concerts and recitals; and
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b) to further such charitable purpose or purposes as the directors in their absolute discretion shall think fit but in particular through the making of grants and donations.
The Charity's main activity is the production of amateur orchestral concerts (either by the main Bardi Symphony Orchestra or the ancillary Bardi Wind Orchestra, collectively "the Orchestras") for performance to the general public, predominantly in Leicestershire and Rutland.
ORGANISATION
The company is run by a Board of voluntary Trustees in accordance with the company's Articles of Association and the relevant legislation. The Trustees are responsible for policy decisions, and appoint a professional Music Director to help them carry out the tasks involved in achieving the aims of the company.
PEOPLE WITH SIGNIFICANT CONTROL
In accordance with the Small Business, Enterprise and Employment Act 2015 the company keeps a register of its 'people with significant control'. The company had no PSCs during the period under review.
RISK MANAGEMENT
The Trustees have identified the principal risk to the charity as being a lack of guaranteed funding support, which could result in an inability to continue to meet its objectives.
To mitigate this risk, the Trustees aim to maintain a minimum reserve and operating cash equal to one year's operational expenditure. Careful annual budgeting (which is reviewed and updated at each Trustee's meeting), tight controls on expenditure, and effective fundraising from commercial and individual sponsors and Charitable Trusts are important factors in achieving this goal.
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The Bardi Orchestra (A Company Limited By Guarantee)
Report of the Trustees for the Year Ended 31 July 2022
The Board maintains a written Risks Register, identifying planned mitigations for each known risk. This will be discussed, updated and agreed on an annual basis.
PUBLIC BENEFIT
The Trustees have had regard to the Charity Commission's guidance on public benefit and to its supplementary guidance on fee charging, and believe that the Charity complies with Charity Commission requirements. Audience members are presented with exciting and innovative performances of the highest quality, offering not only pleasurable cultural experiences, but also occasional challenges, and opportunities to extend their musical knowledge.
The Charity aims to foster links and joint initiatives with schools and other educational organisations to encourage young people of all backgrounds in their music education. This includes the Bardi Young Musician programme, which offers young people of exceptional musical promise the opportunity to perform a significant work with the Bardi Symphony Orchestra.
All the venues used for concert performances are accessible to wheelchair users. Wheelchair spaces are available, and can be reserved with a complimentary seat for a companion. Guide dogs are welcome, and an induction loop at the De Montfort Hall improves the quality of sound for concert-goers with hearing difficulties.
In setting ticket prices and charges, the Trustees give careful consideration to the accessibility of the charity's concerts to those on low incomes and to young people. Concessionary prices are available for full-time students, senior citizens and the unemployed, and price reductions are also offered for multi-concert season tickets. Take-up of concessionary-priced tickets and season tickets is consistently high.
CHAIRMAN'S REPORT FOR THE YEAR AND ACHIEVEMENT OF OBJECTIVES
I am delighted to be writing my third report as Chair, at the end of a year when the Bardi Orchestra were once again able to resume giving public concert performances following eighteen months of enforced silence brought about because of the Covid-19 pandemic.
Following extensive planning for various different scenarios, the way was finally clear for the Orchestra to open its 2021-22 season at De Montfort Hall in October 2021. The pandemic cast a long shadow over the season, with audiences still somewhat tentative about venturing to large scale events, but nonetheless we were able to present a varied programme of four major symphony concerts in De Montfort Hall which were reasonably well attended.
The Season opened in October '21 with a classical programme, including works by Saint Saens and Mendelssohn, featuring two prominent local soloists: Organist David Cowen and former Bardi Young Musician, violinist Amalia Young. November, by contrast, saw a concert of Stage and Screen favourites attracting the highest audience figures of the year. This was followed in March '22 by a concert on the theme of Fantasy and Adventure with music by Dukas, Poulenc and Rimsky-Korsakov. In the light of the continuing Ukraine War, we were proud to play the National Anthem of Ukraine at the beginning of the concert and in the light of the shocking humanitarian impact of the war, a bucket collection was made for the Disasters Emergency Committee ('DEC') Ukraine appeal. This raised in excess of £1k which was gratefully acknowledged by the DEC, a global humanitarian Charity of which I am proud to be Honorary Treasurer.
The DMH season concluded in May '22 with a much anticipated all-Elgar programme including Elgar's First Symphony and his 'Cello concerto with soloist Lydia Shelley, which had originally been planned for May 2020.
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The Bardi Orchestra (A Company Limited By Guarantee)
Report of the Trustees for the Year Ended 31 July 2022
CHAIRMAN'S REPORT FOR THE YEAR AND ACHIEVEMENT OF OBJECTIVES - continued
Alongside these concerts, the Orchestra gave their annual concert in partnership with Leicester Grammar School, which involved school students playing concerto movements accompanied by the orchestra, while other students played alongside Bardi Orchestra members. The programme, devised in conjunction with the school's Music department, featured works from the GCSE syllabus which students are currently studying and included some interactive audience participation activities via mobile devices. This successful partnership continues to be extremely valued by the Bardi Orchestra and plays an important part in our outreach activities to encourage the next generation of musicians.
The 2022 Bardi Young Musician concert took place at English Martyrs' Catholic School in June (postponed from January 2022) and the winner of this annual competition, run since 2012, was 18 year old french horn player Francesca Penny.
The other ensemble under the Bardi 'umbrella', the Bardi Wind Orchestra ('BWO'), gave a delightful concert in the Hollycroft Park at Hinckley in September '21 at the request of the Hinckley and Bosworth Borough Council. A first large-scale event for both since the pandemic, the concert drew a large and enthusiastic audience of around 2,000 people. Sadly, the BWO had to cancel their popular Christmas concert, deemed unwise because of rising numbers of Covid infections in the population. BWO were once again invited by Hinckley and Bosworth Borough Council to present what was a highly successful open air concert in Hollycroft Park to celebrate the Queen's Platinum Jubilee in June '22. The concert was unticketed but the enthusiastic audience for this concert was estimated to be in excess of 5,000. BWO's eagerly anticipated annual fundraising charity family concert in partnership with the Oadby and Wigston Lions Club was held at the De Montfort Hall in June raising funds for the East Midlands Air Ambulance.
Public benefit
The Orchestra is passionate about ensuring that its programming, venues and audience profiles cover a wide and varied spectrum, and is delivered in partnership with other local organisations. The commitment to the musical development of young people is demonstrated through the Bardi Young Musician series, and through the partnership with Leicester Grammar School in which the orchestra performs annually a concert featuring the School's developing musicians.
Finances
As the Treasurer reports below, in the face of lower audience participation numbers and reduced ticket income post-pandemic the fact that we were able to meet these commitments is due to the continued subscriptions of the members of the Orchestra, on which we rely, and our generous supporters. Particular mention must be made of the T.S.Shipman Trust and the Edith Murphy Charitable Foundation, both of which maintained their long-standing financial support of the Orchestra throughout the year under review.
It is a pleasure to record once again our sincere thanks to all of these loyal supporters, and of course our audiences, without whom the Bardi would simply not be able to survive.
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The Bardi Orchestra (A Company Limited By Guarantee)
Report of the Trustees for the Year Ended 31 July 2022
FINANCIAL REPORT FOR THE YEAR
With the exception of the BWO Christmas concert in December 2021, all programmed concerts for the season took place as planned. The Orchestra’s income for the period under review was £71,111 (2021: £16,802) and total expenditure amounted to £67,210 (2021: £14,241), giving a surplus for the year of £3,901 (2021: £2,561).
Income for the year was generated by membership fees, the Principals Club and the Friends of the Bardi, together with a number of generous donations from other supporters, which enabled us to cover the costs of the season. Engagement fee income was generated by the BWO's two outdoor concerts for Hinckley & Bosworth Borough Council.
In addition, an amount for Orchestra Tax relief of £13,270 in respect of the 2021/2022 season has been accrued. Gift aid on eligible donations in the year amounted to £2,152 (2021: £1,007).
£1,005 was raised by bucket collections at the March concert in aid of the Disasters Emergency Committee "Ukraine appeal". This is included in total income and in expenditure within Donations.
GOING CONCERN
Coronavirus impact
The Trustees do not anticipate that the COVID-19 pandemic will result in a significant adverse financial impact on the Bardi Orchestra over the next 12 months and beyond.
The Orchestra complies with all Government requirements in respect of COVID-19 risk assessments.
Impact of the UK leaving the EU
The Bardi Symphony Orchestra's current Music Director is resident in Germany and the Charity is required to follow temporary visa requirements in order for him to visit the UK as a performing artist. Any costs associated with this process are not anticipated to be significant in the next 12 months.
The Charity has registered for a GB EORI number, as some music repertoire hired for concerts may occasionally need to be sourced from the EU. The financial consequences of additional VAT and Customs Duties in respect of this are anticipated to be minimal.
The UK government have confirmed that Orchestra Tax relief continues to be available after 1 January 2021 and therefore this value source of income will be maintained.
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The Bardi Orchestra (A Company Limited By Guarantee)
Report of the Trustees for the Year Ended 31 July 2022
GOING CONCERN – continue
Principal sources of funding
The principal source of funding for the Charity is ticket sales from public performances and fees for paid engagements undertaken by the Orchestras.
In addition, the Charity's members pay an annual subscription and the Principals' Club and Friends of the Bardi raise funds from annual donations towards the running cost of the Orchestras.
The Charity is also fortunate to receive donations from a number of Charitable Trusts and corporate organisations in support of its work and a small amount of income is raised by corporate advertisements in concert programmes, the sale of programmes and sales of CDs and merchandise at the front of house stall on concert days.
The Charity claims Gift Aid payments on eligible donations and makes an annual claim for Orchestra Tax relief on qualifying costs.
The Trustees review working capital on a monthly basis to ensure sufficient cash is retained to meet the ongoing requirements of the Charity and maintains a robust policy on reserves.
RESERVES POLICY
The Trustees have set a minimum target for reserves to fully cover the committed, contracted costs for the following season in order to keep the programme for that season viable and to allow the Orchestra to continue in the event of a major downturn in income. Contracted costs typically relate to the hire costs for our main venue, the De Montfort Hall and fees for our conductor and soloists.
At 31st July 2022, the charity's unrestricted fund stood at £68,786, which fully covers committed costs for the coming season.
RELATED PARTIES
Trustees receive no remuneration or other benefits in connection with their Trustee role with the charity. Payments made to Trustees in return for services rendered and payments made to connected parties are disclosed in full in Note 7 to the Accounts.
The Charity adheres to Charity Commission rules in respect of all payments to Trustees and has policies in place for the approval of such payments by the unconflicted Trustees.
RECRUITMENT, APPOINTMENT AND TRAINING OF TRUSTEES
All Trustees, who are also Directors of the Company, are appointed annually, with nominations open to all paid-up members of the Orchestra. Nominations are voted on at the Annual General Meeting by those paid-up members present at the meeting.
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The Bardi Orchestra (A Company Limited By Guarantee)
Report of the Trustees for the Year Ended 31 July 2022
RECRUITMENT, APPOINTMENT AND TRAINING OF TRUSTEES - continued
There must be a minimum of 4 directors and there is no maximum. There are no prescribed posts, other than the Chairman, and there are no particular requirements beyond those set in Company Law. Trustees are not required by the Articles to be members of the Charity or playing members of the Orchestras.
A formal policy of Trustee training and induction is in place, in accordance with Charity Commission guidance.
DECLARATION
The company has taken advantage of the small companies' exemption in preparing the report above.
Approved by order of the board of trustees on 15 December 2022 and signed on its behalf by:
J C Hanson – Chair
C Cowen - Treasure
Page 7
Independent Examiner's Report to the Trustees of The Bardi Orchestra (A Company Limited By Guarantee)
Independent examiner's report to the trustees of The Bardi Orchestra (A Company Limited By Guarantee) ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2022.
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
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Mrs L G Parkes ACA FCCA ICAEW The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP
Date: 15 December 2022
Page 8
The Bardi Orchestra (A Company Limited By Guarantee)
Statement of Financial Activities for the Year Ended 31 July 2022
| 31.7.22 | 31.7.21 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 2 | 26,204 | 100 | 26,304 | 16,782 |
| Charitable activities | |||||
| Concerts | 3 | 44,807 | - | 44,807 | 20 |
| Total | 71,011 | 100 | 71,111 | 16,802 | |
| EXPENDITURE ON | |||||
| Charitable activities | 4 | ||||
| Concerts | 67,110 | 100 | 67,210 | 14,241 | |
| NET INCOME | 3,901 | - | 3,901 | 2,561 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 64,885 | 200 | 65,085 | 62,524 | |
| TOTAL FUNDS CARRIED FORWARD | 68,786 | 200 | 68,986 | 65,085 |
The notes form part of these financial statements
Page 9
The Bardi Orchestra (A Company Limited By Guarantee) (Registered number: 08253439)
Balance Sheet 31 July 2022
| 31.7.22 | 31.7.21 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| CURRENT ASSETS | ||||||
| Debtors | 10 | 14,784 | - | 14,784 | 765 | |
| Cash at bank and in hand | 57,068 | 200 | 57,268 | 66,133 | ||
| 71,852 | 200 | 72,052 | 66,898 | |||
| CREDITORS | ||||||
| Amounts falling due within one year | 11 | (3,066) | - | (3,066) | (1,813) | |
| NET CURRENT ASSETS | 68,786 | 200 | 68,986 | 65,085 | ||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 68,786 | 200 | 68,986 | 65,085 | ||
| NET ASSETS | 68,786 | 200 | 68,986 | 65,085 | ||
| FUNDS | 12 | |||||
| Unrestricted funds | 68,786 | 64,885 | ||||
| Restricted funds | 200 | 200 | ||||
| TOTAL FUNDS | 68,986 | 65,085 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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The Bardi Orchestra (A Company Limited By Guarantee) (Registered number: 08253439)
Balance Sheet - continued 31 July 2022
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 15 December 2022 and were signed on its behalf by:
J C Hanson - Trustee
C Cowen - Trustee
The notes form part of these financial statements
Page 11
The Bardi Orchestra (A Company Limited By Guarantee)
Notes to the Financial Statements for the Year Ended 31 July 2022
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.
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.
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.
Taxation
The charity is exempt from corporation tax on its charitable activities. Expenses are inclusive of VAT where applicable.
Fund accounting
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are receivable as general funds.
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash in hand and cash on deposits.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
continued...
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The Bardi Orchestra (A Company Limited By Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
| 2. | DONATIONS AND LEGACIES | ||
|---|---|---|---|
| 31.7.22 | 31.7.21 | ||
| £ | £ | ||
| Subscriptions | 3,763 | 3,760 | |
| Sponsorships & donations | 5,822 | 7,066 | |
| Friends of the Bardi | 1,297 | - | |
| Gift Aid & Orchestra Tax Relief | 15,422 | 5,956 | |
| 26,304 | 16,782 | ||
| 3. | INCOME FROM CHARITABLE ACTIVITIES | ||
| 31.7.22 | 31.7.21 | ||
| £ | £ | ||
| Ticket sales | 32,741 | 20 | |
| Programme & Advertising | |||
| sales | 306 | - | |
| Other Income | 1,060 | - | |
| Orchestra fees (paid | |||
| engagements) | 10,700 | - | |
| 44,807 | 20 |
continued...
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The Bardi Orchestra (A Company Limited By Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
| 4. | CHARITABLE ACTIVITIES COSTS | |||
|---|---|---|---|---|
| Direct | Support | |||
| Costs (see | costs (see | |||
| note 5) | note 6) | Totals | ||
| £ | £ | £ | ||
| Concerts | 65,674 | 1,536 | 67,210 | |
| 5. | DIRECT COSTS OF CHARITABLE ACTIVITIES | |||
| 31.7.22 | 31.7.21 | |||
| £ | £ | |||
| Instrument hire/transport | 1,186 | 1,432 | ||
| Instrument repairs | 944 | 2,101 | ||
| Marketing and adverts | 2,450 | 800 | ||
| Design and print | 2,142 | - | ||
| Miscellaneous | 6,111 | 1,728 | ||
| DMH charges | 23,195 | - | ||
| Other venue hire charges | 2,185 | 2,040 | ||
| Artists' Fees & expenses | 26,176 | 4,480 | ||
| Donations away | 1,285 | 250 | ||
| 65,674 | 12,831 | |||
| 6. | SUPPORT COSTS | |||
| Governance | ||||
| costs | ||||
| £ | ||||
| Concerts | 1,536 | |||
| Support costs, included in the above, are as follows: | ||||
| 31.7.22 | 31.7.21 | |||
| Total | ||||
| Concerts | activities | |||
| £ | £ | |||
| Independent Examination | 1,536 | 1,410 |
continued...
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The Bardi Orchestra (A Company Limited By Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
7. TRUSTEES' REMUNERATION AND BENEFITS
The trustees' remuneration or other benefits for the year ended 31 July 2022 and for the year ended 31 July 2021:
In accordance with the Charity's Articles, trustees do not receive remuneration for carrying out their duties as a trustee of the Charity.
Trustees' expenses
Four trustees (2021: two) were reimbursed for expenses paid on behalf of the Charity totalling £859 (2021: £278).
Payments for services rendered
During the year, payments of £3,510 (2021: £400) were made to D Calow and R Calow for services rendered to the Charity.
D Calow and R Calow are trustees of the charity and also joint partners trading as Calow Creative, who provide music hire and design and print services. These payments were allowed in accordance with the governing document, the Memorandum and Articles of Association updated on 28th January 2018.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted funds fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 16,782 - Charitable activities Concerts 20 - Total 16,802 - EXPENDITURE ON Charitable activities Concerts 14,241 - NET INCOME 2,561 - Transfers between funds (200) 200 Net movement in funds 2,361 200 RECONCILIATION OF FUNDS Total funds brought forward 62,524 - TOTAL FUNDS CARRIED FORWARD 64,885 200 |
Total funds £ 16,782 20 16,802 14,241 2,561 - 2,561 62,524 65,085 |
|---|---|
continued...
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The Bardi Orchestra (A Company Limited By Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
9. INDEPENDENT EXAMINATION FEE
The amount paid to the independent examiner for the independent examination was £1,536 (2021: £1,410) including VAT.
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| 31.7.22 | 31.7.21 | |
| £ | £ | |
| Other debtors | 13,695 | 101 |
| Prepayments and accrued income | 1,089 | 664 |
| 14,784 | 765 | |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.7.22 | 31.7.21 | |
| £ | £ | |
| Trade creditors | 825 | - |
| Accruals and deferred income | 2,241 | 1,813 |
| 3,066 | 1,813 |
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
12. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.8.21 | in funds | 31.7.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 62,793 | 2,904 | 65,697 |
| Friends of Bardi fund | 2,092 | 997 | 3,089 |
| 64,885 | 3,901 | 68,786 | |
| Restricted funds | |||
| Young Musician Fund | 200 | - | 200 |
| TOTAL FUNDS | 65,085 | 3,901 | 68,986 |
continued...
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The Bardi Orchestra (A Company Limited By Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 69,714 | (66,810) | 2,904 |
| Friends of Bardi fund | 1,297 | (300) | 997 |
| 71,011 | (67,110) | 3,901 | |
| Restricted funds | |||
| Young Musician Fund | 100 | (100) | - |
| TOTAL FUNDS | 71,111 | (67,210) | 3,901 |
Comparatives for movement in funds
| Net | Transfers | |||
|---|---|---|---|---|
| movement | between | At | ||
| At 1.8.20 | in funds | funds | 31.7.21 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 60,432 | 2,561 | (200) | 62,793 |
| Friends of Bardi fund | 2,092 | - | - | 2,092 |
| 62,524 | 2,561 | (200) | 64,885 | |
| Restricted funds | ||||
| Young Musician Fund | - | - | 200 | 200 |
| TOTAL FUNDS | 62,524 | 2,561 | - | 65,085 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 16,802 | (14,241) | 2,561 |
| TOTAL FUNDS | 16,802 | (14,241) | 2,561 |
continued...
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The Bardi Orchestra (A Company Limited By Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 July 2022
13. RELATED PARTY DISCLOSURES
In addition to the payments made to the trustees disclosed in Note 7, the Charity reimbursed expenses amounting to £500 (2021: £nil) to a family member of C Cowen, who is a trustee of the Charity.
The Charity paid £2,875 (2021: £800) to Calow Music Design Limited, a company controlled by I Calow, son of D Calow, a trustee of the Charity. These payments were made for digital services rendered to the Charity, including updating and improving the website, operation of social media and other aspects of e-marketing for the Charity.
During the year, Nine (2021: eight) trustees made personal donations to the Charity amounting to £650 (2021: £600). No benefits were received as a result of these donations.
14. ULTIMATE CONTROLLING PARTY
The charity was under the control of the Trustees throughout the current and previous year.
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The Bardi Orchestra (A Company Limited By Guarantee)
Detailed Statement of Financial Activities for the Year Ended 31 July 2022
| 31.7.22 | 31.7.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Subscriptions | 3,763 | 3,760 |
| Sponsorships & donations | 5,822 | 7,066 |
| Friends of the Bardi | 1,297 | - |
| Gift Aid & Orchestra Tax Relief | 15,422 | 5,956 |
| 26,304 | 16,782 | |
| Charitable activities | ||
| Ticket sales | 32,741 | 20 |
| Programme & Advertising sales | 306 | - |
| Other Income | 1,060 | - |
| Orchestra fees (paid engagements) | 10,700 | - |
| 44,807 | 20 | |
| Total incoming resources | 71,111 | 16,802 |
| EXPENDITURE | ||
| Charitable activities | ||
| Instrument hire/transport | 1,186 | 1,432 |
| Instrument repairs | 944 | 2,101 |
| Marketing and adverts | 2,450 | 800 |
| Design and print | 2,142 | - |
| Miscellaneous | 6,111 | 1,728 |
| DMH charges | 23,195 | - |
| Other venue hire charges | 2,185 | 2,040 |
| Artists' Fees & expenses | 26,176 | 4,480 |
| Donations away | 1,285 | 250 |
| 65,674 | 12,831 | |
| Support costs | ||
| Governance costs | ||
| Independent Examination | 1,536 | 1,410 |
| Total resources expended | 67,210 | 14,241 |
| Net income | 3,901 | 2,561 |
This page does not form part of the statutory financial statements
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