OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-07-31-accounts

REGISTERED CHARITY NUMBER: 1164536

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 FOR SYMPHONY CONSORT

Levicks Chartered Accountants and Business Advisers 61 London Road Maidstone Kent ME16 8TX

SYMPHONY CONSORT

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021

Page
Report of the Trustees and Statement of Trustees’ 1 to 4
Responsibilities
Independent Examiner’s Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 12

SYMPHONY CONSORT

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 JULY 2021

The Trustees present their report with the financial statements of the Charity for the year ended 31 July 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) (FRS 102) 'Accounting and Reporting by Charities' effective from 1 January 2019.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1164536

Principal address:

Apartment 85 Anchorage Point Cuba Street London E14 8NF

Trustees:

D Ariyo J S Thompson (appointed 1.2.21) S A L Brown (appointed 11.1.21) B Scott (resigned 4.1.21 J Clifford (resigned 4.1.21) J Fyleman (resigned 4.1.21)

Independent Examiner:

Julie Griggs FCA Levicks Chartered Accountants and Business Advisers 61 London Road Maidstone Kent ME16 8TX

1

SYMPHONY CONSORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is controlled by its governing document, a constitution adopted 17 June 2015 as amended on 29 October 2015.

OBJECTIVES AND ACTIVITIES

Objectives and aims

To advance the Christian faith for the benefit of the public by such means as the trustees see fit.

Symphony consort is a charity that seeks to build platforms and create spaces so that together we can do more to better serve the community, culture and the church. Our presence intends to be a bridge that connects these elements.

Significant activities undertaken by the charity include Christian based events and initiatives, services for vulnerable adults and children.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Our activities are divided into four main sections: Unite, Create, Lead, and Help. Each section emphasizes the importance of our work to the community and the people we serve during these challenging years.

Unite

Tribe Festival

In response to the heightened need for connection and unity after the disruptions caused by the pandemic, we focused on planning the Tribe Festival. This global gathering, set to take place in Birmingham's City Centre in 2025, aims to bring people together from various backgrounds and foster a sense of belonging. By creating spaces for empowerment, equity, and equality, we support individuals in reaching their fullest potential and encourage them to contribute positively to their communities.

Create

Symphony Books

Recognizing the need for greater diversity and representation in the creative and cultural sectors, we established Symphony Books. Our publishing arm prioritizes amplifying the voices of minority authors, showcasing their unique perspectives and experiences. During a time when people increasingly seek understanding and connection, we believe that sharing these stories can foster empathy and inspire meaningful dialogue within our communities.

Symphony Records

Music has long been a powerful medium for expression and healing. With live performances halted due to Covid-19, we adapted our plans for Seth & A New Thing's UK and European tour to create a double-disk album, 'Songs and Stories,' in partnership with a charity. By capturing the essence of the tour in a single room and releasing it digitally, we aim to provide solace and inspiration to people worldwide during these trying times. Additionally, another album is in progress, with plans to record it in New York.

2

SYMPHONY CONSORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021

Lead

Strengthening Our People

During a period marked by uncertainty and change, the importance of strong leadership has become increasingly apparent. Our charity has focused on volunteer recruitment and management, as well as developing young leaders, to ensure that our communities have the support they need to navigate these challenges. By investing in the growth and development of our volunteers, we empower them to make a positive impact in their communities and beyond.

Help

Symphony Schools

Education is a crucial component of personal and community growth, and we recognize that it has been heavily impacted by the events of 2020-2021. Our Symphony Schools program aims to address educational inequalities by providing free core GCSE extra tuition classes to young, gifted Black boys. We believe that by investing in their education, we can help to level the playing field and create opportunities for these students to excel in their chosen fields.

We formed partnerships with organizations like DrBeats, House of Lords, and National Rail, and published and distributed an Impact Report.

Additional Activities

As communities continue to recover and rebuild, we have partnered with organizations such as TBN to host the Declaration New Year's Prayer Week, a large prayer TV program to provide spiritual support and encouragement. We have added new trustees and focused on building strong foundations to optimize our organization for the future. Notably, our founder, Seth, has left full-time work to dedicate his time entirely to our charity.

Over the past years, our charity has been dedicated to uniting communities, creating opportunities, leading by example

FINANCIAL REVIEW

Financial position

The net deficit for the year ended 31 July 2021 was £7,611 compared to a net deficit of £6,339 for the year ended 31 July 2020. As at 31 July 2021 the charity’s net liabilities were £13,932 compared to net liabilities of £6,321 at 31 July 2020.

The conditions indicate the existence of some uncertainty which may cast doubt regarding the charity’s ability to continue as a going concern. The charity has the continued support of its trustees and is satisfied that its creditors at the balance sheet date will continue to accept deferral of amounts due to them.

3

SYMPHONY CONSORT

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 JULY 2021

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2016, Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2016, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. 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.

STATEMENT OF DISCLOSURES TO THE INDEPENDENT EXAMINER

In so far as the Trustees are aware at the time of approving the Trustees’ annual report:

Approved by order of the board of Trustees on 26 July 2023 and signed on its behalf by:

James Thompson Stefan Brown Trustee

Trustee

4

SYMPHONY CONSORT

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF SYMPHONY CONSORT FOR THE YEAR ENDED 31 JULY 2021

I report on the accounts of Symphony Consort for the year ended 31 July 2021 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes set out on pages 6 to 12.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking of explanations the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner’s statement – matters of concern identified

I have considered the adequacy of the disclosure in the financial statements concerning the charity’s ability to continue as a going concern, The charity suffered a deficit of £7,611 (2020 deficit of £6,339) for the year ended 31 July 2021 and has net liabilities of £13,932 (2020 net liabilities of £6,321) at the balance sheet date. These conditions indicate the existence of some uncertainty which may cast doubt regarding the charity’s ability to continue as a going concern. The financial statements do not include any adjustments that would result if the charity was unable to continue as a going concern.

In connection with my examination, no material matters, except that referred to in the above paragraph, have come to my attention which gives me cause to believe that in any material respect:

I 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.

J A GRIGGS FCA

LEVICKS

Chartered Accounts and Business Advisers 61 London Road Maidstone Kent ME16 8TX

1 August 2023

5

SYMPHONY CONSORT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021

Unrestricted
funds
Notes
£
INCOMING RESOURCES
Incoming resources from generated funds
Voluntary income
2
25,183
Other incoming resources
3
24,367
Total incoming resources
49,550
RESOURCES EXPENDED
Charitable activities
4
51,458
Governance costs
5
1,500
Other resources expended
6
14,505
Total resources expended
67,463
NET OUTGOING RESOURCES
(17,913)
__
RECONCILIATION OF FUNDS
Total funds brought forward
(6,321)
Transfers between funds
-
TOTAL FUNDS CARRIED FORWARD
(24,234)		 31 July
2021
Restricted
Total funds
fund
£
£
25,714
50,897
-
24,367
25,714
75,264
15,412
66,870
-
1,500
-
14,505
15,412
82,875
10,302
(7,611)
_
_
-
(6,321)
-
-
10,302
(13,932)		 31 July
2020
Total funds
£
81,841
17,207
99,048
65,455
1,500
38,432
105,387
(6,339)
__
18
-
(6,321)

6

SYMPHONY CONSORT

BALANCE SHEET

FOR THE YEAR ENDED 31 JULY 2021

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
9
1,500
CURRENT ASSETS
Cash at bank
(15,406)
Debtors
10
12,994
(2,412)
CREDITORS
Amounts falling due within one year
11
(23,322)
NET CURRENT ASSETS
(25,734)
TOTAL ASSETS LESS CURRENT LIABILITIES
(24,234)
NET ASSETS
(24,234)
FUNDS
17
Unrestricted funds
(24,234)
Restricted funds
-
TOTAL FUNDS
(24,234)		 31 July 2021
31 July 2020
Restricted
Total funds
Total funds
fund
£
£
£
-
1,500
3,000
10,302
(5,104)
2,639
-
12,994
10,201
10,302
7,890
12,840
-
(23,322)
(22,161)
10,302
(15,432)
(9,321)
10,302
(13,932)
(6,321)
10,302
(13,932)
(6,321)
-
(24,234)
(6,321)
10,302
10,302
-
10,302
(13,932)
(6,321)

The financial statements were approved by the Board of Trustees on 26 July 2023 and were signed on its behalf by:

James Thompson Trustee

Stefan Brown Trustee

7

SYMPHONY CONSORT

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

1. ACCOUNTING POLICIES

Accounting framework

The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: the 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 issued in October 2019 and effective from 1 January 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK General Accepted Accounting Practice.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note below.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings 50% of cost Computer Equipment 50% of cost

Taxation

The Charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

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.

8

SYMPHONY CONSORT

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED

FOR THE YEAR ENDED 31 JULY 2021

2. VOLUNTARY INCOME

2.
VOLUNTARY INCOME
Donations

Gift aid
Donations - Symphony Schools (restricted)
3.
OTHER INCOMING RESOURCES
Fundraising events		 2021
£
22,390
2,793
25,714
50,897
2021
£
24,367
24,367		 2020
£
81,841
-
-
81,841
2020
£
17,207
17,207

The aggregate amount of trustee donations without restrictions to the charity amounts to £nil (2020: £nil).

The aggregate amount of trustee donations by trustees with restrictions to the charity amounts to £nil (2020: £nil).

4. CHARITABLE ACTIVITIES COSTS

Symphony
Unrestricted
Schools
£
£
Consultancy
10,150
14,105
Staff and volunteer costs
-
12,008
Programme Activity Costs
5,262
25,345
15,412
51,458		 Totals
£
24,255
12,008
30,607

66,870

9

SYMPHONY CONSORT

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 JULY 2021

5. GOVERNANCE COSTS

Accountancy fee
Independent Examiner’s fee
OTHER RESOURCES EXPENDED
Insurance, utilities, etc
Telephone
Advertising
Bank charges
Office costs
Consultancy fees
Subsistence
Bookkeeping
Depreciation
Other expenditure		 2021
£
960
540
1,500
2021
£
1,770
4,808
2,893
709
1,530
-
-
1,240
1,500
55
14,505		 2020
£
-
1,500

1,500
2020
£
1,064
5,183
12,092
1,070
3.377
14,905
301
-
-
440
38,432

6. OTHER RESOURCES EXPENDED

7. TRUSTEES' REMUNERATION AND BENEFITS

Trustees’ expenses

There were no trustee expenses or remuneration during the year.

10

SYMPHONY CONSORT

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 JULY 2021

8. STAFF COSTS

There were no staff costs during the year.

9. TANGIBLE FIXED ASSETS

COST OR VALUATION
At 1 August 2020
Additions
At 31 July 2021
DEPRECIATION
At 1 August 2020
Charge for year
At 31 July 2021
NET BOOK VALUE
At 31 July 2021
At 31 July 2020
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Gift aid
Other debtors
11
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade Creditors
Other creditors		 Fixtures
& fittings
£
1,804
-

1,804
1,804
-
1,804
-
-		 Computer
equipment
£
3,000
-
3,000
-
1,500
1,500
1,500
3,000
2021
£
8,468
2,793
1,733
__
12,994
2021
£
20,322
3,000
____
23,322		 Computer
equipment
£
3,000
-
3,000
-
1,500
1,500
1,500
3,000
2021
£
8,468
2,793
1,733
__
12,994
2021
£
20,322
3,000
____
23,322		 Totals
£
4,804
-
4,804
1,804
1,500
3,304
1,500
3,000
2020
£
8,468
-
1,733
_____
10,201
2020
£
20,322
1,839
_____
22,161

11

SYMPHONY CONSORT

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 JULY 2021

12. RELATED PARTY TRANSACTIONS

There were no related party transactions for the year ended 31 July 2021.

13. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS
Net movement in funds, included in the above ar
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Net
movement in
1 August
2020
funds
£
£
(6,321) (17,913)
(6,321)
(17,913)
-
10,302
(6,321)
(7,611)
e as follows:
Incoming
Resources
Resources
expended
£
£
49,550
(67,463)

25,714
(15,412)
75,264
(82,875)		 Transfers
between
funds
31 July
2021
£
£
(24,234)
-
(24,234)
-
10,302
-
(13,932)
Gains and
Movement in
losses
funds
£
£
-(17,913)
-
10,302
-
(7,611)

14. RRESTRICTED FUNDS PURPOSES

Symphony School funds are raised specifically for the project, to educate, equip and empower young gifted black boys by providing free core subject extra tuition classes in line with the National Curriculum.

15. GOING CONCERN

The charity suffered a deficit of £7,611 (2020 deficit of £6,339) for the year ended 31 July 2021 and has net liabilities of £13,932 (2020 net liabilities of £6,321) at the balance sheet date. These conditions indicate the existence of some uncertainty which may cast doubt regarding the charity’s ability to continue as a going concern. The charity has the continued support of its trustees and is satisfied that the creditors at the balance sheet date will continue to accept deferral of amounts due to them.

12