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2023-03-31-accounts

Company number: 8523283 Charity number: 1155738

(A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

AURORA ORCHESTRA

CONTENTS

Page
Reference and administrative details 1
Trustees’ report 2
Independent auditors’ report 12
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19

AURORA ORCHESTRA

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023

Trustees Elizabeth Forgan DBE Chair
Nicholas Hardie (retired November 2023)
Andrew Hochhauser KC
Michael Laven
Jenny Lewis (retired November 2023)
Alistair Lomax (retired November 2023)
Ben Lumsden
Rachel Mortimer
Louise Smith (appointed July 2023)
Suzanne Szczetnikowicz
Sharon Zhu
Company registered number 8523283 (England and Wales)
Charity registered number 1155738
Registered office The Music Base
Kings Place
90 York Way
London N1 9AG
Senior Management Team John Harte Chief Executive and Company Secretary
Jane Mitchell Creative Director
Alana Grady Senior Concerts Manager
Helen McKeown Development Manager
Jane Walker Finance Manager
Independent Auditors Lindeyer Francis Ferguson Limited
North House, 198 High Street
Tonbridge
Kent TN9 1BE
Principal Bankers CAF Bank Ltd
25 Kings Hill Avenue
West Malling
Kent ME19 4JQ

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AURORA ORCHESTRA

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report together with the audited financial statements of the charity for the year to 31 March 2023. The Trustees confirm that the annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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). This report is also the Directors’ Report under company law.

The reference and administrative information set out on page 1 forms part of this report.

Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Structure, Governance & Management

Aurora Orchestra is a charitable company limited by guarantee. It is governed by its Memorandum and Articles of Association, dated 9 May 2013, amended by a special resolution of 5 December 2016.

Objects

The objects of the charity are to promote, maintain, improve and advance education particularly in the appreciation of music in all its forms through the presentation of public concerts.

Organisation

The Board of Trustees (set out on page 1) must have a minimum of three members. It convenes for a minimum of four meetings each year in pursuit of the objectives described below.

John Harte (Chief Executive) acts as Secretary to the Board. Principal Conductor Nicholas Collon, Creative Director Jane Mitchell and several members of the management team also attended board meetings during the period. Player interests were represented by Player Representative Sébastien van Kuijk with other guest attendees invited on an ad hoc basis.

Board Committees

The Board supports the orchestra’s administrative team on an ongoing basis through a group of committees with particular areas of responsibility. These currently include the following:

The Board agrees formal Terms of Reference for each committee.

Trustee Appointment, Induction and Performance Review

The Appointments and Governance Committee regularly audits the collective skills and experience of the board, identifying skills gaps and making recommendations to the board on trustee recruitment. Any new Trustee must be appointed by a resolution of the existing Trustees, and the board aims to ensure that its membership reflects a diverse range of views and backgrounds. New Trustees will meet with the Chair and Chief Executive prior to joining the Board. Induction and training of new Trustees is handled by the board’s Appointments and Governance Committee; the Committee Chair and Chair of Trustees also meet annually with all Trustees individually to review performance, identify any particular training needs, and set objectives for the year ahead.

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Management

Aurora Orchestra’s management team during the 2022/23 financial year comprised the following:

Risk Management

The Trustees have conducted a review of the major risks to which the charity is exposed, and systems have been established to mitigate those risks. Procedures have been put in place to minimise both external and internal risks and these procedures are periodically reviewed to ensure that they still meet the needs of the charity. The Trustees are satisfied that the Trust's assets attributable to each of its individual funds are available and adequate to fulfil its obligations in relation to those funds.

Key risks identified and managed in this period included:

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Mission statement and measuring success

Aurora’s activity during this financial year was shaped by its 2022–2025 Business Plan, which incorporated the following mission statement:

Aurora creates vibrant musical adventures that share a passion for orchestral music with the broadest possible audience. We produce vivid and intensely powerful musical experiences combining the very highest performance quality with creative presentation and an exceptional breadth of artistic horizons. We harness the extraordinary versatility of the chamber orchestra to make orchestral music speak in powerful new ways for first-time listeners and lifelong classical devotees alike.

The organisation’s work continues to be underpinned by four key values as follows:

In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘Public Benefit: Running a Charity’ (PB2). The Trustees believe that the quality, breadth, and accessibility of Aurora’s work means that the orchestra’s programme offers a clear public benefit.

The orchestra’s current business plan sets out the following specific objectives for the period 2022– 2025:

1) Develop a vibrant digital offer worthy of the Aurora brand: launch Aurora’s online learning resources and teacher CPD programme nationally; set in motion new digital initiatives in partnership with key collaborators which allow Aurora to blaze a trail in the online realm.

2) Build organisational resilience: Move towards more sustainable financial and staffing models, including growing new revenue streams, reducing pressure on key creative roles, and building reserves.

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3) Deliver a vibrant and distinctive programme of live activity which builds on Aurora’s sectorleading reputation for quality and creativity: plan and deliver a live programme of outstanding quality and innovation, focused particularly around a small number of key venue relationships.

4) Realise the extraordinary potential of Aurora’s programme to reach new audiences for classical music: Through live and online activity, achieve a measurable step-change in expanding the reach of our work beyond established classical audiences.

The orchestra’s progress over the period 2022–2025 is measured against these four objectives, as well as against specific key performance indicators agreed with Arts Council England as part of the organisation’s National Portfolio Organisation funding agreement. These included a series of agreed outcomes supporting Arts Council England’s current 10-year strategy Let’s Create , and agreed measures around ACE’s four current Investment Principles. Significant progress was made in 2022/23 against each of the objectives, as shown in the detailed activity summary and financial review set out below.

Artistic Summary 2022/23

2022/2023 saw Aurora’s rapid post-pandemic regrowth continue, with the orchestra’s busiest season of live activity to date reaching a combined live audience of over 45,000 people (36,000 in the UK and a further 9,000 internationally). In addition to mounting full concert seasons at Kings Place and Southbank Centre and an expanded programme of UK touring, the orchestra also resumed international activity with appearances in Austria, Belgium, Germany and Ireland. Further investment was also made in Aurora Classroom, the orchestra’s digital learning platform aimed at supporting music teaching in primary school and SEND settings.

1. Southbank Centre series

After six seasons as an Associate Orchestra, in April 2022 Aurora joined the Southbank Centre’s family of Resident Orchestras as part of the first change to the venue’s roster of resident ensembles in a generation.

In its first year as Resident Orchestra Aurora delivered three major projects at Southbank Centre showcasing its signature memorised performance strand, and vividly illustrating the range of theatrical and educational possibilities which this approach can unlock. In June 2022 (Royal Festival Hall) the orchestra welcomed Ukrainian violinist Valeriy Sokolov for his debut appearance with the orchestra, performing Tchaikovsky’s Violin Concerto as part of a programme also featuring a memorised performance of Shostakovich’s ninth symphony. The symphony was introduced by one of Aurora’s distinctive staged introductions, presented by Nicholas Collon with Tom Service. The orchestra toured versions of this programme to Bury St Edmunds and the Kölner Philharmonie in Cologne.

In September 2022 the orchestra revived its landmark Orchestral Theatre staging of Berlioz’s Symphonie fantastique, infused with theatrical lighting, costume, set design and choreographed player movement. Guest actor Mathew Baynton appeared as Berlioz for a production at the Royal Festival Hall which used the composer’s score, letters, and other contemporaneous accounts to bring audiences under the skin of the music. The orchestra also toured the symphony in concert alongside Ravel’s first piano concerto to Antwerp, Bregenz and Hamburg (with Alexandre Tharaud as soloist), and to Warwick and Dublin (with pianist Tom Poster).

In March 2023 the orchestra returned to the Queen Elizabeth Hall for the world premiere of Héloïse Werner’s newly-commissioned For Mira, written in memory of the composer Mira Calix, presented alongside two works by Beethoven – his fifth symphony (performed here from memory) and the fourth piano concerto with Jan Lisiecki as soloist. The orchestra also presented its memorised Beethoven 5 in several other contexts. These included touring appearances alongside Lisiecki in Heidelberg and Munich, as well as a concert for care home residents presented at Bristol Cathedral in association with Bristol Beacon. The symphony also formed the centrepiece of a second project at the Printworks nightclub venue in Rotherhithe: a pair of immersive performances delivered to a combined audience of

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c. 4,000 people. Configured in an ‘exploded’ layout which allowed the audience physically to explore the orchestra as it performed in the vast space of a building that once housed Europe’s largest printing press, Aurora’s players presented the Beethoven symphony alongside newly-commissioned electronic music by Nwando Ebizie.

For younger audiences Aurora premiered a new concert theatre work for young audiences by Martin Suckling, The Wolf, the Duck and the Mouse, inspired by the illustrated children’s book of the same name by Mac Barnett and Jon Klassen. Also on offer for young children and families (February 2023) was Debussy and the Snow Elephant, a revival of one of Aurora’s intimate multi-sensory storytelling concerts based around the music of Debussy.

"Tom Service, a fired-up presence on stage, together with Collon are in danger of becoming one of the greatest double acts in musical presentation… This would not have been so satisfying without the superlative playing of Aurora Orchestra throughout, entirely from memory, with pinpoint precision in the strings, a choral-like weight from the woodwind and virtuosic displays from the brass, all delivered with infectious enthusiasm.”

(**** Bachtrack on Aurora’s Shostakovich 9 at the Royal Festival Hall).

"[Werner’s work] was the centrepiece of a programme that had begun with an outstandingly fresh, punchy account of Beethoven’s Fourth Piano Concerto… The piece gives the Aurora musicians the space to explore their personal trove of associations by quietly describing places that have personal significance to them. It’s an introspective piece which grows out of lapping, disjointed chords until the textures threaten to disintegrate, when a pair of bassoons restore order with a consoling lament. It’s a direct, touching act of remembrance.”

(* The Guardian on Werner/Beethoven)

"In the vaulted splendour of Bristol Cathedral, another pioneering ensemble, the Aurora Orchestra under the baton of Nicholas Collon, reminded us that music matters at every stage of life… The ancient building’s height and resonance (I counted seven seconds’ reverb on a particular end-of-movement chord) made an already immersive experience overwhelming, as well as thrillingly loud. Tears were shed."

(* The Observer on Aurora’s care homes concert at Bristol Cathedral)

2. Kings Place series

Aurora delivered a full season of live activity as Resident Ensemble at Kings Place, including several performances as part of the venue’s year-long Voices Unwrapped series.

The year started with a first collaboration with the BBC Singers, with Sophie Jeannin conducting a programme featuring music by Caroline Shaw, Reena Esmail, Vaughan Williams and Tomás Luis de Victoria, as well as James Macmillan’s setting of Seven Last Words from the Cross. The concert was recorded for broadcast on BBC Radio 3. Also as part of Voices Unwrapped, Aurora presented a collaboration with tenor Nicholas Mulroy, who co-curated a mixed programme of Baroque music and 20th-century Latin American song in new chamber arrangements – perhaps the first time Bach, Purcell and Monteverdi have shared a concert billing with Silvio Rodriguez, Mercedes Sosa and Victor Jara. The 2023 season concluded with a rare performance of Shostakovich’s 14th symphony, performed in the original Russian by soloists Elizabeth Atherton and Peter Rose as part of a programme also featuring works by Mahler and Britten.

During the 2022/23 financial year the orchestra also belatedly concluded its complete cycle of Mozart’s piano concertos – a 25-concert journey originally intended to conclude in 2020 but extended by the intervention of the pandemic. Pianist Javier Perianes made his debut as soloist with the orchestra for a performance of Mozart’s final Piano Concerto, no. 27 in B flat (July 2022), marking the first time in history a British orchestras has ever presented all 27 concertos live in concert as part of a single concert series. Other Kings Place performances in this season included the Orchestral Theatre production for children Schumann and Pepper the Monkey (July 2022), and a first contribution to Kings Place’s 2023

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‘Sound Unwrapped’ season (February 2023) featuring works by Gershiwn, Debussy, George Benjamin and John Adams.

"You invariably come away from an Aurora Orchestra concert with ears refreshed and mind revived… After a couple of numbers, I ceased to worry if the high concept behind this cross-continental, crosscentury fusion really worked (Mulroy cites “themes of love, power, faith, and the poetic imagination”). It was enough that soloist and players combined to lead the way through an arresting, sometimes ravishing, landscape studded with vocal and instrumental treasures… We finished gratified by the quality and integrity of all the music-making on the way."

(**** The ArtsDesk on Aurora’s collaboration with Nicholas Mulroy)

“The playing was terrific in its precision, detail and drive."

(**** The Guardian on Shostakovich 14 at Kings Place)

"a powerful performance by the Aurora Orchestra and the conductor Nicholas Collon. Unflinching, bleak, fierce, this was a reading that didn’t shy away from the symphony’s darkest corners.”

(**** The Times on Shostakovich 14 at Kings Place)

3. Other live highlights

Aurora returned to the BBC Proms (July 2022) for a sold-out appearance featuring guest soloist Patricia Kopatchinskaja as violinist for Shostakovich’s first violin concerto; the orchestra also performed Beethoven’s fifth symphony from memory, preceded by one of its signature staged introductions to the piece.

External co-productions included a collaboration with Fiery Angel Productions, presenting touring performances of Peppa Pig: My First Concert, a theatrical concert designed to give young children their first experience of classical music and orchestral instruments. Hosted by characters from the popular television series Peppa Pig, the production was co-devised and scripted with Aurora Creative Director Jane Mitchell, and toured to venues in London, Bristol, Birmingham, Manchester and Edinburgh.

The orchestra was also invited to appear as part of a Royal Opera House / Britten Pears Arts coproduction of Britten’s opera The Rape of Lucretia, with performances at Snape Maltings (October 2022) and the Linbury Teatre (November 2022).

"A Prom can give you width of musical experience, or depth, but rarely both. Either you're enthused and entertained and leave with a smile on your face, or you get a profound spiritual journey that makes you reluctant to applaud at the end. The wonderful thing about this Prom was that we got both"

(*, The Telegraph on Aurora’s performance at the BBC Proms)

"An exceptionally thrilling performance and it drove the audience close to frenzy."

(* The Times, Aurora at the Proms)

"In the pit Corinna Niemeyer led a coruscating account of the work, the thirteen soloists from the Aurora Orchestra playing this fascinating score which brims with invention as if their lives depended on it."

(* Music OMH on The Rape of Lucretia)

"Peppa Pig: My First Concert is a must see for all the family and especially a fantastic way to engage children in culture that is rich in our society and history."

(Get the Chance, Wales)

4. Learning programme

Across the financial year 2022/23, Aurora Classroom evolved from initial development phase (academic year 2021/22) to 'soft launch’ (academic year 2022/23). This shift coincided with the appointment of

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three specialist staff – two Learning Resources Producers and one Learning Director – to lead on this aspect of the orchestra’s work from summer 2022.

Over the course of the financial year, the Aurora Classroom platform had 22 subscribing schools, plus a further four schools continuing to use the platform for free in return for their continued support in resource development. Online CPD was delivered for these schools, and two further dedicated sessions were held in Southend-on-Sea for a cluster of ten schools, and online for the six ’Thurrock Trailblazer’ schools. Production of our second unit of content, Meet the Instruments, began in October 2022 and continued for the remainder of the financial year. This was a much larger undertaking than the creation of Aurora and the Magical Toy Box due to the five distinct programmes written for the different year groups, totalling over 800 audio tracks and 200 films.

We recruited a further ten schools with ‘free’ subscriptions from January 2023 to support our piloting of this second unit in EYFS, KS1 and SEND settings. In contrast to the large number of piloting schools in 2021/22, we decided to focus more closely on a small group of ‘beacon’ schools for the Meet the Instruments pilot and forge closer relationships with individual schools to encourage future paid subscription to the platform.

We were pleased to host our first 'Teacher CPD Day’ at Southbank Centre, with venue hire provided in-kind owing to our Resident Orchestra status, in March 2023. This event was free for teachers to attend and comprised two classroom-based workshops led by our Learning Resources Producers Helen Mead and Sarah Lloyd, a vocal workshop led by Lucy Hollins, and a percussion workshop led by Aurora percussionist Owen Gunnell. The day, attended by 30 teachers, culminated with a short presentation of Aurora Classroom and performance of Beethoven and the Dinosaurs.

Whilst much of our learning work this year focused on the digital offer for younger children, this year also saw the development of resources for secondary schools, starting with Berlioz’s Symphonie fantastique: this included 150 discounted tickets for the orchestra’s performance at Royal Festival Hall, a pre-concert talk for Southbank’s ‘Encounters’ programme, and a resource available on TES.com for A-level Music teachers to download.

All at Aurora were deeply saddened to learn of the news of the sudden death of Nicholas Snowman OBE in March 2023. Nicholas was a close friend and supporter of the orchestra for over a decade, including as a Trustee from 2016–2022. He had been particularly closely involved in the planning of the Rite of Spring project for summer 2023, and the production was subsequently dedicated to his memory. Trustees pay warm tribute to Nicholas' enormous contribution not only as a champion of Aurora but more broadly as a tireless and hugely effective advocate for music and music education in the UK and internationally over the past half century.

Financial Review

During 2022/3 the orchestra continued to rebuild its financial position following the disruption caused by Covid-19. Earned income exceeded pre-pandemic levels, in turn allowing the delivery of an unprecedented volume of high-quality artistic activity. The return of international touring income was a particularly welcome driver of growth, as was the government’s decision to extend its post-pandemic uplift to Orchestra Tax Relief rates as a means of catalysing increased output. The latter allowed the company to be bolder in scaling up our activity following the uncertainty of the previous two years, and was a major factor underpinning a doubling of overall income in 2022/23 compared with the prior year. Income for the year ending 31 March 2023 was £1,788,217 (compared with £946,212 in 2021/22), of which 81% comprised earnings from performance and learning activity and associated tax reliefs; 5% regular core funding from Arts Council England as a National Portfolio Organisation; 5% philanthropic gifts from individual supporters; and the remainder grants from trusts and foundations. The orchestra disbursed over £1.3 million in direct project costs (2021/22: £499,557), representing 72% of overall expenditure, the majority of which comprised fees to freelance players and other artists, with just under £210,000 or 11% (2021/22: as restated £129,419) spent on direct staffing costs. The net financial result for the year was a small deficit in unrestricted funds totalling £3,537.

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Contributed income fell as expected compared with the previous year as temporary additional support from Arts Council England through the Culture Recovery Fund came to an end. The orchestra was the grateful recipient of several major grants, including renewed support from the Karlsson Játiva Charitable Foundation for creative learning activity and the Parabola Foundation towards the Kings Place programme, funding from Cockayne–Grants for the Arts for performances under the umbrella of Aurora’s Southbank Centre series, and an award from the RPS Audience Fund for experimental work at Printworks.

The orchestra’s balance sheet as at 31 March 2023 showed unrestricted reserves at £286,545 as well as £56,485 in restricted grant funding carried forward for expenditure in 2023/24 (2021/22: £290,082 unrestricted reserves; £118,000 restricted). The unrestricted reserves position is in excess of the board’s current target for the 2023/24 year, and offers some modest headroom for artistic investment going into a season in which the orchestra will tackle its most ambitious touring project to date – an Orchestral Theatre staging of Stravinsky’s The Rite of Spring.

The economic outlook for arts organisations continues to be very uncertain, with the cost of living crisis continuing to impact on individual donors and correspondingly increased pressure on the resources of organisational funders. Within this context Aurora continues to develop new revenue streams to increase financial resilience, including by expanding subscription income from Aurora Classroom in 2023/24 as well as continuing to build international touring revenues.

Reserves Policy

The Trustees understand the need to build up sufficient reserves to provide a degree of financial security for the orchestra's ongoing operations. The Board currently sets its unrestricted reserves target at 6 months’ worth of core overhead expenditure (equivalent to £273,929 for the 2023/24 financial year).

At the balance sheet date, unrestricted reserves were £286,545, 105% of the board’s target level. Free reserves (being unrestricted reserves less tangible assets) were £271,816 (2022: £282,142).

Environmental Impact

The Trustees are committed to ensuring that the orchestra takes steps to minimise its environmental impact. This includes regular reporting to Julie’s Bicycle on the carbon footprint of its artistic programme and taking environmental impact into account when planning touring activity (e.g. booking train over air travel wherever possible for international tours).

Fundraising disclosures

The Trustees have considered the provisions of section 13 of the Charities (Protection and Social Investment) Act 2016, and note the following:

Following a thoroughgoing review of the orchestra’s data processing policies in light of the introduction of the EU General Data Protection Regulation 2018, an updated organisational Privacy Policy is published on the orchestra’s website.

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Future plans

During the course of the year Aurora’s team made plans for an increasingly ambitious programme of creative output. In addition to activity to be delivered as part of ongoing residencies at Southbank Centre and Kings Place, a particular focus of artistic planning since the year end was a new Orchestral Theatre production based around Stravinsky’s Rite of Spring planned for summer 2023. This reached the later stages of development during the 2022/23 FY, with detailed creative work in collaboration with projection designer Anouar Brissel, consulting director James Bonas and a number of other external creative partners. Aurora’s Rite was successfully staged at the BBC Proms and Helsinki Festival in August/September 2023, garnering unprecedented critical acclaim. Plans are already underway to revive the production in a future season, wth interest from a number of prospective international host promoters.

The expansion of Aurora Classroom continued following the year end, with the launch of a second unit of work on the platform (‘Meet the instruments’), and plans for a new Key Stage 2 unity inspired by Beethoven’s ‘pastoral’ symphony in development for 2024. Aurora’s creative learning team are working in collaboration with a number of concert venue partners to scale up the impact of the platform nationally, offering subscriptions to local schools networks as well as planning linked live performances and teacher training to be delivered in the local venues.

The orchestra aims to maintain its commitment to diverse programming and commissioning, with 2023/24 collaborators including Debasmita Bhattacharya, Anna Meredith, Anna Thorvaldsdottir, Sidiki Dembele and Anouar Brissel. Expanding the orchestra’s international touring programme continued to be a major strategic focus, including confirmed plans for Aurora’s largest-scale tour to date in March 2025. The board and artistic team have also begun planning for Aurora’s 20th-anniversary season in 2025, including several commissions and Orchestral Theatre projects.

Trustees’ responsibilities statement

The Trustees (who are also directors of the charity for ·purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the income resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies. Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees’ report is approved has confirmed that:

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This report has been prepared in accordance with the provisions applicable to small companies subject to the small companies’ regime in Part 15 of the Companies Act 2006.

Approved by order of the members of the board of Trustees on 20 December 2023 and signed on their behalf by:

Dame Elizabeth Forgan (Chair) Chair

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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2023

Opinion

We have audited the financial statements of Aurora Orchestra (“the charitable company”) for the year ended 31 March 2023, which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2023

We obtained an understanding of the legal and regulatory framework applicable to the preparation of the financial statements of the charitable company, and the procedures that management adopt to ensure compliance. We have considered the extent to which non-compliance might have a material effect on the financial statements, and in particular we identified: the Companies Act 2006, FRS102 and the Charities SORP.

We have also identified other laws and regulations that do not have a direct effect on the amounts or disclosures within the financial statements, but for which compliance is fundamental to the charitable company’s operations and to avoid material penalties, including GDPR / data protection regulations, employment law, health and safety, and taxation legislation particularly concerning Orchestra Tax Relief.

Having reviewed the laws and regulations applicable to the charitable company, we designed and performed audit procedures to obtain sufficient appropriate audit evidence. Specifically, we:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including considering how fraud might occur. This was performed by:

We then designed audit procedures in response to the risks identified, including performing detailed substantive testing with an appropriate risk factor on player payments and grant income, post period end review, detailed review of the Orchestra Tax Relief claim and vouching to supporting evidence, and substantive testing of the expenditure applied to all material restricted funds.

The audit has been planned and performed in in accordance with auditing standards, however, because of the inherent limitations of audit procedures there remains a risk that we will not detect all irregularities, including those that may lead to material misstatements in the financial statements. There are inherent difficulties in detecting irregularities, and irregularities that result from fraud may be more difficult to detect than irregularities that result from error, for example due to concealment, override of controls, collusion or misrepresentations. In addition, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less audit procedures are able to identify it.

14

AURORA ORCHESTRA

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2023

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

A S Healey FCA CTA DChA Senior Statutory Auditor For and on behalf of: Lindeyer Francis Ferguson Limited

Statutory Auditors Chartered Accountants

Date: 21 December 2023

North House 198 High Street Tonbridge Kent TN9 1BE

15

AURORA ORCHESTRA (A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
Total
Expenditure on:
Raising funds
5
Charitable activities
6
Total
Net (expenditure) / income
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward:
Total funds carried forward		 2023
£
128,151
1,402,989
878
1,532,018
108,663
1,426,892
1,535,555
( 3,537)
-
( 3,537)
290,082
286,545
Unrestricted
funds		 Restricted
funds
2023
£
218,449
37,750
-
256,199
-
317,714
317,714
( 61,515)
-
( 61,515)
118,000
56,485		 Total
funds
Total
funds
2023
2022
£
£
346,600
447,451
1,440,739
498,438
878
323
1,788,217
946,212
108,663
102,098
1,744,606
801,879
1,853,269
903,977
( 65,052)
42,235
-
-
( 65,052)
42,235
408,082
365,847
343,030
408,082
As restated		 Total
funds
Total
funds
2023
2022
£
£
346,600
447,451
1,440,739
498,438
878
323
1,788,217
946,212
108,663
102,098
1,744,606
801,879
1,853,269
903,977
( 65,052)
42,235
-
-
( 65,052)
42,235
408,082
365,847
343,030
408,082
As restated
946,212
102,098
801,879
903,977
42,235
-
42,235
365,847
408,082

The statement of financial activities includes all grains and losses recognised in the year.

16

AURORA ORCHESTRA (A company limited by guarantee)

BALANCE SHEET AS AT 31 MARCH 2023

Note
Fixed assets
Tangible assets
11
Current assets
Stocks
Debtors
12
Cash at bank and in hand
Creditors:amounts falling due
within one year
13
Net current assets
Creditors:amounts falling due
after more than one year
14
Total net assets
The funds of the charity:
Unrestricted funds
Restricted funds
15		 2023
£
597
726,319
114,299
841,215
( 368,470)		 2023
£
14,729
14,729
472,745
( 144,444)
343,030
286,545
56,485
343,030		 2022
£
597
309,003
263,079
572,679
( 109,001)		 2022
£
7,940
7,940
463,678
( 63,536)
408,082
290,082
118,000
408,082

The financial statements were approved by the Board of Trustees on 20 December 2023 and were signed on its behalf by:

Dame Elizabeth Forgan (Chair)

Company number: 8523283

17

AURORA ORCHESTRA (A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Note
Cash flows from operating activities:
Net cash used in operating activities
A
Cash flows from investing activities:
Purchase of tangible fixed assets
Investment income
Net cash used in investing activities
Cash flows from financing activities:
Repayments of borrowing
Cash inflows from new borrowing
Net cash provided by / (used) in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
B
A. Reconciliation of net income to net cash flow from
operating activities
Net (expenditure) / income per the Statement of Financial Activities
Depreciation charges
Investment income
(Increase) in debtors
Increase in creditors
Net cash used in operating activities
B. Analysis of cash and cash equivalents
Cash at bank and in hand
C. Analysis of changes in net debt
At the beginning of the year
Cash flows
Maturity analysis
At the end of the year		 Cash at
bank
£
263,079
( 148,780)
-
114,299		 2023
2022
£
£
( 249,572)
( 83,942)
( 9,925)
( 4,520)
878
323
( 9,047)
( 4,197)
( 40,161)
( 29,618)
150,000
-
109,839
( 29,618)
( 148,780)
( 117,757)
263,079
380,836
114,299
263,079
( 65,052)
42,235
3,136
3,294
( 878)
( 323)
( 417,316)
( 173,845)
230,538
44,697
( 249,572)
( 83,942)
2023
2022
£
£
114,299
263,079
Due within
one year
£
£
( 31,602)
( 63,536)
-
( 109,839)
( 28,931)
28,931
( 60,533)
( 144,444)
Due after one
year
Bank loans		 2022
£
( 83,942)
( 4,520)
323
( 4,197)
( 29,618)
-
( 29,618)
( 117,757)
380,836
263,079
42,235
3,294
( 323)
( 173,845)
44,697
( 83,942)
2022
£
263,079
( 144,444)

18

AURORA ORCHESTRA (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 ACCOUNTING POLICIES

Basis of preparation of the financial statements

The financial statements have been prepared in accordance with "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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Aurora Orchestra meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial statements are presented in pounds sterling and rounded to the nearest pound.

Going concern

The Trustees have assessed that there are no significant doubts in the company's ability to continue as a going concern. As a result, the financial statements have been prepared on a going concern basis.

Income

Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal offer is made in writing, unless the grant contains terms and conditions outside of the charity's control which must be met before the charity is entitled to the funds, in which case the income is resognied when the conditions have been met. Where grants are received in response to a proposal including a budgeted timescale, such that the timescale for the expenditure is implicit in the grant agreement, the income is recognised in accordance with that timescale.

Income from charitable activities is recognised in the period in which the relevant services are delivered. Income from performance-related grants in connection with the charitable activities is recognised to the extent that the performance-related criteria have been met.

Expenditure

Expenditure is recognised on the accruals basis when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably.

Expenditure is classified by activity. Direct costs attributable to a single activity are allocated directly to that activity. Support costs which are not attributable to a single activity are apportioned between those activities on the basis of estimated usage, calculated as the proportion of directly attributable staff costs.

Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives.

19

AURORA ORCHESTRA (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 ACCOUNTING POLICIES continued

Fund accounting

General funds are unrestricted funds which can be used in accordance with the charitable objectives at the discretion of the Trustees.

Designated funds are a subset of unrestricted funds and represent funds set aside by the Trustees for specific future purposes or projects.

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 purposes.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated realisable value of each asset over its expected useful life, as follows:

Computers and office equipment 25% on the straight line basis Musical equipment and library 10% on the straight line basis Music stands 16.7% on the straight line basis

Assets costing less than £250 are not capitalised but are recognised as expenditure in the Statement of Financial Activities in the year incurred.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Financial instruments

The charity only has financial instruments of a kind that qualify as basic financial instruments. Short term basic financial instruments such as trade debtors and trade creditors are initially recognised at transaction value and subsequently measured at their settlement value. Long term basic financial instruments such as bank loans are initially recognised at transaction value and subsequently measured at amortised cost using the effective interest method.

Leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

Payments to defined contribution pension schemes are charged as an expense as they fall due.

Prior period adjustment

During the period, the charity reviewed its methodology for the allocation of staff and support costs. For comparability, the prior period has been restated on the same basis. The effect on the prior period was to reduce expenditure on raising funds and increase expenditure on charitable activities by £14,359.

20

AURORA ORCHESTRA (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2 STATUS

Aurora Orchestra is a company limited by guarantee with the company registration number 08412045 (England and Wales) and the charity registration number 1155738. The address of the registered office is The Music Base, King's Place, 90 York Way, London N1 9AG.

3 INCOME FROM DONATIONS AND LEGACIES

INCOME FROM DONATIONS AND LEGACIES
Donations
Grants
In the preceding period, income of £173,000 was restricted.
Grants included above were as follows:
The Arnold Clark Community Fund
Arts Council England (National Portfolio)
Arts Council England (Culture Recovery Fund)
Cockayne - Grants for the Arts and The London Community Foundation
Coronavirus Job Retention Scheme
Garrick Charitable Trust
John Lyon's Charity
Signatur - The Karlsson Játiva Charitable Foundation
The Lucille Graham Trust
The Nugee Foundation
The Radcliffe Trust
The Reed Foundation
The Royal Philharmonic Society Audience Fund
The Samuel Gardner Memorial Trust
The Astor Foundation
PRS Foundation's The Open Fund for Organisations
PRS Foundation's Resonate programme
Three Monkies Trust
New Berlioz Edition Trust
Vaughan Williams Foundation		 2023
£
96,581
250,019
346,600
1,000
93,519
-
20,000
-
-
25,500
50,000
3,000
-
-
5,000
25,000
1,500
1,500
8,000
2,000
2,000
10,000
2,000
250,019		 2022
£
63,915
383,536
447,451
-
93,519
145,016
25,000
7,001
4,000
23,000
50,000
-
1,500
4,500
-
25,000
-
-
-
3,000
2,000
-
-
383,536

21

AURORA ORCHESTRA (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4 INCOME FROM CHARITABLE ACTIVITIES

INCOME FROM CHARITABLE ACTIVITIES
Performance fees
Learning and participation income
Performance-related grants
Orchestra and Film Tax Relief credit
Programme sales, sales of recordings and reimbursed costs		 2023
£
911,772
33,803
35,750
457,977
1,437
1,440,739		 2022
£
306,147
13,853
35,000
136,791
6,647
498,438

In the prior period a grant of £35,000 has been reclassified to income from charitable activities based on the performance-related nature of the grant agreement.

5 EXPENDITURE ON RAISING FUNDS

Fundraising staff costs
Direct fundraising costs
Support costs allocated		 2023
£
45,038
18,503
45,122
108,663		 2022
£
39,499
9,828
52,771
102,098

6 EXPENDITURE ON CHARITABLE ACTIVITIES

Orchestral activity
Orchestral activity		 Direct
costs
2023
£
1,326,197
1,326,197
Direct
costs
2022
£
499,557
499,557		 Direct staff
costs
2023
£
209,010
209,010
Direct staff
costs
2022
£
129,419
129,419		 Support
costs
2023
£
209,399
209,399
Support
costs
2022
£
172,903
172,903		 Total
2023
£
1,744,606
1,744,606
Total
2022
£
801,879
801,879

In the preceding period, expenditure of £273,000 was applied to restricted funds.

22

AURORA ORCHESTRA (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7
DIRECT COSTS
Artists and freelancers
Venue hire
Music and instrument hire
Commissioning
Travel and subsistence
Other direct costs
8
SUPPORT COSTS
Support costs comprise:
Support staff costs
Freelance staff
Marketing and website
Staff expenses and recruitment
Premises costs
Insurance
Other office costs
Bank charges and interest
Depreciation
Governance costs:
Legal and professional fees
Audit and accountancy
9
NET (EXPENDITURE) / INCOME
Net (expenditure) / income is stated after charging/(crediting):
Operating lease rentals
Depreciation
Auditors' remuneration for audit services		 2023
£
798,393
144,329
67,066
27,833
286,625
1,951
1,326,197
2023
£
47,963
70,669
67,826
19,151
13,073
2,900
11,532
12,271
3,136
-
6,000
254,521
2023
£
13,020
3,136
6,000		 2022
£
363,720
76,356
17,275
18,706
22,725
775
499,557
2022
£
34,981
50,362
69,415
9,467
8,903
2,748
16,237
7,420
3,294
17,847
5,000
225,674
2022
£
8,820
3,294
5,000

23

AURORA ORCHESTRA (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10 STAFF COSTS

Gross salaries
Employer's National Insurance contributions
Employer's pension contributions
Freelance fees:
Artists
Direct freelancers
Administrative freelancers		 2023
£
262,365
22,148
17,498
302,011
728,780
69,613
70,669
869,062		 2022
£
183,420
14,544
5,935
203,899
351,819
11,901
50,362
414,082

The average number of persons employed by the charity during the year was 9 (2022: 5).

One employee received remuneration amounting to more than £60,000 in the year (2022: one).

11 TANGIBLE FIXED ASSETS

£
Cost
At 1 April 2022
47,648
Additions
9,925
At 31 March 2023
57,573
Depreciation
At 1 April 2022
39,708
Charge for the year
3,136
At 31 March 2023
42,844
Net book value
At 31 March 2023
14,729
At 31 March 2022
7,940
Computers &
equipment		 Total
£
47,648
9,925
57,573
39,708
3,136
42,844
14,729
7,940

24

AURORA ORCHESTRA (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12 DEBTORS
Trade debtors
Prepayments and accrued income
Other debtors
13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans
Trade creditors
Other taxation and social security
Accruals and deferred income
14 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans: long term		 2023
£
171,559
541,730
13,030
726,319
2023
£
60,533
240,633
7,957
59,347
368,470
2023
£
144,444
144,444		 2022
£
4,320
304,596
87
309,003
2022
£
31,602
45,453
15,103
16,843
109,001
2022
£
63,536
63,536

The bank loans are unsecured and carry interest at a fixed rate of 6.5%.

25

AURORA ORCHESTRA (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15 MOVEMENT ON FUNDS

CURRENT YEAR
Restricted funds
Performance programme:
Rite of Spring R&D
Martin Suckling collaboration
King's Place programme
Immersive experimental concert
formats
Wolf, Duck, Mouse project
Performances at Printworks and
Queen Elizabeth Hall
Berlioz Symphonie Fantastique
project
Héloïse Werner commission
Memory Champions
Augurs of Spring
Learning and participation:
Aurora Classroom and schools'
performances
Unrestricted funds
General fund
Total funds		 Brought
forward
£
7,000
8,000
45,000
10,000
-
-
-
-
-
-
48,000
118,000
290,082
290,082
408,082		 Income
£
-
-
37,750
25,000
2,000
20,000
10,000
8,000
1,000
30,375
122,074
256,199
1,532,018
1,532,018
1,788,217		 £
( 3,000)
( 8,000)
( 82,750)
( 35,000)
( 2,000)
( 20,000)
( 10,000)
( 8,000)
( 1,000)
( 15,890)
( 132,074)
( 317,714)
( 1,535,555)
( 1,535,555)
( 1,853,269)
Expenditure		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Carried
forward
£
4,000
-
-
-
-
-
-
-
-
14,485
38,000
56,485
286,545
286,545
343,030

26

AURORA ORCHESTRA (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15 MOVEMENT ON FUNDS continued

PRIOR YEAR
Restricted funds
Performance programme
Learning and participation
Unrestricted funds
General fund
Total funds		 Brought
forward
£
58,000
160,000
218,000
147,847
147,847
365,847		 Income
£
92,000
81,000
173,000
773,212
773,212
946,212		 £
( 80,000)
( 193,000)
( 273,000)
( 630,977)
( 630,977)
( 903,977)
Expenditure		 Transfers
£
-
-
-
-
-
-		 Carried
forward
£
70,000
48,000
118,000
290,082
290,082
408,082

16 ANALYSIS OF NET ASSETS BETWEEN FUNDS

CURRENT YEAR
Tangible fixed assets
Net current assets
Creditors: amounts falling due within one year
PRIOR YEAR
Tangible fixed assets
Net current assets
Creditors: amounts falling due within one year		 £
14,729
416,260
( 144,444)
286,545
7,940
345,678
( 63,536)
290,082
Unrestricted
funds		 Restricted
funds
£
-
56,485
-
56,485
-
118,000
-
118,000		 Total funds
£
14,729
472,745
( 144,444)
343,030
7,940
463,678
( 63,536)
408,082

17 FINANCIAL COMMITMENTS

At 31 March 2023 the charity was committed to future minimum lease payments under non-cancellable operating leases as follows:

operating leases as follows:
2023 2022
£ £
Due within one year 1,260 840

27

AURORA ORCHESTRA (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18 RELATED PARTY TRANSACTIONS

The key management personnel are considered to be the trustees and the Senior Management Team.

There were no trustees' remuneration, reimbursed expenses nor other benefits during the current or preceding period.

During the year the trustees donated a total of £18,000 inclusive of Gift Aid (2022: £16,313 including Gift Aid), none of which involved conditions which would, or might, require the charity to alter significantly the nature of its existing activities.

The total amount of employee benefits (including employer's pension contributions) received by key management personnel during the year was £209,274 (2022: £107,948).

28