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2023-03-31-accounts

Page
Trustees and advisors
Report ofthe Trustees 2 —11
Auditors
Report		 12-16
Statement offinancial activities 17
Statement offinancial position 18
Cash flow statement 19
Notes to the financial statements 20 —29

Trustees Giles Gibbons (Chair)
Clarence Adoo MBE
Rylan Gleave (appointed 1 May 2022)
Mark Cosgrove (resigned from board 13Sept 2022)
Dr Kate Marsh (appointed 1May 2022)
Jane Jones (resigned from board 11Sept 2023)
Louise Mitchell
Kevin Satizabal (joined 1May 2022)
Anna Starkey (resigned from board 13Sept 2022)
Company
number		 07874922
Registered
charity number		 1163725
Registered offic Second Floor, The Station
Silver Street
Bristol, BS12AG
Auditors Westcotts (SW) LLP
80 Oxford Street
Burnham
on Sea
Somerset, TAB 1EF
Executive Team:
Chief Executive: Jonathan
Harper
Artistic Director: Charles
Hazlewood
Programming
Director (Deputy CEO):		 Hannah
Williams Walton
Head of Communications: Laura Evans
Funding
and Transformation		 Consultant: Lauren Schoiey*
Management
staff:
Associate Music Director: Lloyd Coleman
Senior Producer (Projects): Luke Macpherson
Senior Producer (Artist Development): Helen Edwards
General
Manager:		 Esther Poole
Marketing
Manager:		 Ben Horton
Support services:
Finance
Ik Accounting:		 FD Works
HR Support: Narrow
Quay		 HR
ITSupport: GoTo IT
~denotes Freelance staff member

Notes Unrestricted Restricted 2023 2022
funds funds Total funds Total funds
Restated
Income from:
Charitable activities 274,119 274,119 248,701
Trusts and Foundations 181,726 73,786 255,512 293,000
Donations
and		 legacies 98 98 2,510
Orchestra tax relief 294,471 294,471 64,480
Grants 253,582 253,582 367,182
Other 15,259 15,259 15,282
Total 1,019,255 73,786 1,093,041 991,155
Expenditure on:
Charitable activities 469,977 73,786 543,763 490,080
Other 539,453 539,453 446,279
Total 1,009,430 73,786 1,083,216 936,359
Net movement In funds 9,825 9,825 54,796
Total funds brought forward 191,185 22,917 214,102 159,306
Total funds carried forward 201,010 22,917 223,927 214,102

Notes 2023 2022
Fixed assets:
Tangible assets 6,097 4,533
Current assets:
Debtors 225,817 57,361
Cash at bank and in hand 156,796 378,203
382,613 435,564
Liabilities:
Creditors;
amounts		 falling due
within one year (164,783) (225,995)
Net current assets 217,830 209,569
Total net assets 223,927 214,102
The funds ofthe charity:
Restricted funds 22,917 22,917
Unrestricted
funds		 201,010 191,185
Total charity funds 10,11 223,927 214,102

2022
2023 Restated
Cash flows from operating activities f f
Net income 9,825 54,796
Depreciation 2,563 2,255
Change
in trade and other		 debtors (168,456) 62,150
Change
in trade and other		 creditors (61,212) (140,774)
Net cash flow generated
from operating		 activities (217,280) (21,573)
Cash flows from investing activities
Purchase oftangible fixed assets (4,127) (388)
Change
in cash and cash equivalents		 in the year (221,407) (21,961)
Cash at bank and In hand at beginning ofthe year 378,203 400,164
Cash at bank and in hand at end ofthe year 156,796 378,203
Analysis ofchanges
In net		 funds
Balance Balance
1April2022 Cash flows 31March 2023
Cash at bank and in hand 378 203 221407 156796
Balance Balance
1April 2021 Cash flows 31March 202
Cash at bank and in hand 400 164 (21961) 378 203

Unrestricted Restricted 2023
Musician
and performer		 fees 102,135 73,786 175,921
Technicians
and support		 fees 101,909 101,909
Equipment
hire		 45,035 45,035
Travel and subsistence costs 121,427 121,427
Other direct costs 79,742 79,742
Musicians
Support fund		 19,729 19,729
Cancellation
costs
469,977 73,786 543,763
Unrestricted Restricted 2022
Restated
Musician
and performer		 fees 183,290 50,954 233,344
Technicians
and support		 fees 57,975 57,706
Equipment
hire		 24,236 24,236
Travel and subsistence costs 72,356 72,356
Other direct costs 61,030 37,946 98,976
Musicians
Support fund
Cancellation
costs		 3,462 3,462
402,080 88,000 490,080

Unrestricted Restricted 2023
E
Printing,
postage and stationery		 2,924 2,924
Rent 12,189 12,189
Insurance 2,002 2,002
ITcosts 6,651 6,651
Travel and subsistence 19,201 19,201
Bank charges 484
Sundry expenses 346 346
Subscriptions 1,376 1,376
Depreciation 2,563 2,563
Governance costs (note 4) 23,563 23,563
Management Ik staffing (note 5) 457,011 457,011
Marketing,
digital and PR		 11,143 11,143
539,453 539,453
Unrestricted Restricted 2022
Restated
f
Printing,
postage and stationery		 559 559
Rent 10,975 10,975
Insurance 1,880 1,880
ITcosts 12,471 12,471
Travel and subsistence 6,233 6,233
Bank charges 821 821
Sundry expenses 831 346
Subscriptions 1,752 1,376
Depreciation 2,555 2,563
Governance costs (note 4) 25,530 25,530
Management Ik staffing (note 5) 361,630 361,630
Marketing,
digital and PR		 21,342 21,3342
446,279 446,279

2023 2022
Audit fees 5,700
Accountancy 4,904
Bookkeeping 9,396 7,900
Independent examination 1,555
Legal and professional 8,467 11,571
23,563 25,530

The aggregate payroll costs were as follows: 2023 2022
Wages and salaries 394,879 322,607
Social security costs 33,931 24,465
Pensions 21,326 10,598
Other staff costs 6,875 3,960
457,011 361,630

Office and IT
equipment
f
Cost
At 1April 2022 15,411
Additions 4,127
At 31March 2023 19,538
Depreciation
At 1April 20212 10,878
Charge for the year 2,563
At 31March 2023 13,441
Net book value
As at31March 2023 6,097
As at 31March 2022 4,533
Debtors
2023 2022
Trade debtors 12,528
Other debtors 13,289 27,028
VAT 5,333
Orchestra tax relief 200,000 25,000
225,817 57,361

2023 2022
Trade creditors 8,324 41,681
Other creditors 46,990 167,628
Accruals and deferred income 94,838 10,280
VAT 2,748 6,406
Payroll 11,883
164,783 225,995

Balance
Balance 31March
1April 2022 Income Expenditure Transfers 2023
f E E f
Unrestricted funds 191,185 1,019,255 (1,009,430) 201,010
Restricted funds 22,917 73,786 (73,786) 22,917
214,102 1,093,041 (1,083,216) 223,927
Balance
Balance 31March
1April 2021
f		 Income
f		 Expenditure
E		 Transfers 2022
f
Unrestricted funds 136,389 903,155 848,359 191,185
Restricted funds 22,917 88,000 88,000 22,917
159,306 991,155 936,359 214,102

alysis ofnet assets between
funds
Unrestricted Restricted 2023
funds funds Total
Fixed assets 6,097 6,097
Debtors 225,817 225,817
Cash at bank and in hand 133,879 22,917 156,796
Creditors (164,783) (164,783)
201,010 22,917 223,927
Unrestricted Restricted 2022
funds funds Total
Fixed assets 4,533 4,533
Debtors 57,361 57,361
Cash at bank and in hand 355,286 22,917 378,203
Creditors (225,995) (225,995)
191,185 22,917 214,102

2023 2022
Within one year 10,854 10,656
Between two and five years
10,854 10,656
Comparative statement offinancial activities
Unrestricted Restricted 2022
funds funds Total funds
Restated
f
Income from:
Charitable activities 248,701 248,701
Trusts and Foundations 205,000 88,000 293,000
Donations
and legacies		 2,510 2,510
Orchestra tax relief 64,480 64,480
Grants 367,182 367,182
Other 15,282 15,282
Total 903,155 88,000 991,155
Expenditure on:
Charitable
activities		 402,080 88,000 490,080
Other 446,279 446,279
Total 848,359 88,000 936,359
Total funds brought forward 136,389 22,917 159,306
Total funds carried forward 191,185 22,917 214,102