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2022-07-31-accounts

REGISTERED CHARITY NUMBER: 1164536

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 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 2022

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 2022

The Trustees present their report with the financial statements of the Charity for the year ended 31 July 2022. 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:

43 Lea Hill Road Birmingham B20 2AS

Trustees:

D Ariyo J S Thompson S A L Brown

Independent Examiner:

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

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SYMPHONY CONSORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

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

Introduction

In 2022, our organisation faced and overcame unique challenges, navigating the aftermath of the 2020 pandemic with a focus on recovery, innovation, and resilience. This report highlights our key initiatives and the adaptability we demonstrated in continuing to serve our communities effectively.

Symphony Schools: Bridging Educational Gaps

Our Symphony Schools program was pivotal in addressing educational disparities. Providing free GCSE tuition to young, gifted Black boys, we aimed to reduce educational inequalities and nurture future leaders, responding proactively to the educational disruptions caused by the pandemic.

Symphony Records: Adapting to a New Musical Landscape

With live performances halted, Symphony Records creatively adapted by transforming the Seth & A New Thing's tour into a digital album, 'Songs and Stories.' This not only kept the spirit of music alive but also connected us with a global audience, offering solace and inspiration in difficult times.

Symphony Festival: Promoting Unity and Connection

Despite cancelled events, our commitment to the Tribe Festival, a part of the Symphony Festival planned for 2025 in Birmingham's City Centre, remained steadfast. This initiative symbolises our effort to unite diverse communities, fostering empowerment and a sense of belonging.

Symphony Books: Amplifying Diverse Voices

Through Symphony Books, we amplified the voices of minority authors, contributing to the cultural diversity in literature. This initiative aligns with our commitment to fostering understanding and empathy through creative expression.

2

SYMPHONY CONSORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

Partnerships and Collaborations

A significant aspect of our work in 2022 involved partnering with various organisations. We provided them with essential support in the form of advice, guidance, project management, and facilitation. These collaborations were instrumental in extending our reach and impact, allowing us to contribute to a broader spectrum of community needs and initiatives.

Overcoming Challenges

Despite facing challenges such as a decline in volunteer engagement and financial strains, our organisation adapted and persisted. We remained committed to our mission, exploring new opportunities for growth and impact.

Financial Impact and Recovery

The decrease in donations necessitated a reassessment of our fundraising strategies. We explored new avenues for support, ensuring the sustainability of our initiatives and the continuation of our impactful work.

Conclusion

Reflecting on 2022, we are grateful for the support of our community and the resilience of our team. The challenges of the past year have not only tested but also strengthened our commitment to making a significant impact. Looking forward, we are excited about the potential for continued service, growth, and positive change.

FINANCIAL REVIEW

Financial position

The net surplus for the year ended 31 July 2022 was £776 compared to a net deficit of £7,611 for the year ended 31 July 2021. As at 31 July 2022 the charity’s net liabilities were £13,156 compared to net liabilities of £13,932 at 31 July 2021.

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 2022

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 5 January 2024 and signed on its behalf by:

James Thompson Trustee

Stefan Brown Trustee

Demi Ariyo Trustee

4

SYMPHONY CONSORT

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF SYMPHONY CONSORT FOR THE YEAR ENDED 31 JULY 2022

I report on the accounts of Symphony Consort for the year ended 31 July 2022 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:

to state whether particular matters have come to my attention.

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 made a surplus of £776 (2021 deficit of £7,611) for the year ended 31 July 2022 and has net liabilities of £13,156 (2021 net liabilities of £13,932) 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

11 January 2024

5

SYMPHONY CONSORT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022

Unrestricted
funds
Notes
£
INCOMING RESOURCES
Incoming resources from generated funds
Voluntary income
2
18,278
Other incoming resources
3
1,961
Total incoming resources
20,239
RESOURCES EXPENDED
Charitable activities
4
16,658
Governance costs
5
1,080
Other resources expended
6
3,530
Total resources expended
21,268
NET OUTGOING RESOURCES
(1,029)
__
RECONCILIATION OF FUNDS
Total funds brought forward
(24,234)
Transfers between funds
-
TOTAL FUNDS CARRIED FORWARD
(25,263)		 Restricted

fund
£
24,642
-
24,642
22,837
-
-
22,837
1,805
__
10,302
-
12,107		 31 July
2022
Total funds
£
42,920
1,961
44,881
39,495
1,080
3,530
44,105
776
__
(13,932)
-
(13,156)		 31 July
2021
Total funds
£
50,897
24,367
75,264
66,870
1,500
14,505
82,875
(7,611)
__
(6,321)
-
(13,932)

6

SYMPHONY CONSORT

BALANCE SHEET

FOR THE YEAR ENDED 31 JULY 2022

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
9
-
CURRENT ASSETS
Cash at bank
(12,131)
Debtors
10
1,446
(10,685)
CREDITORS
Amounts falling due within one year
11
(14,578)
NET CURRENT ASSETS
(25,263)
TOTAL ASSETS LESS CURRENT LIABILITIES
(25,263)
NET ASSETS
(25,263)
FUNDS
13
Unrestricted funds
(25,263)
Restricted funds
-
TOTAL FUNDS
(25,263)		 31 July 2022
31 July 2021
Restricted
Total funds
Total funds
fund
£
£
£
-
-
1,500
12,107
(24)
(5,104)
-
1,446
12,994
12,107
1,422
7,890
-
(14,578)
(23,322)
12,107
(13,156)
(15,432)
-
(13,156)
(13,932)
12,107
(13,156)
(13,932)
-
(25,263)
(24,234)
12,107
12,107
10,302
12,107
(13,156)
(13,932)

The financial statements were approved by the Board of Trustees on 5 January 2024 and were signed on its behalf by:

James Thompson Trustee

Stefan Brown Demi Ariyo Trustee Trustee

7

SYMPHONY CONSORT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

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 2022

2. VOLUNTARY INCOME

VOLUNTARY INCOME
Donations

Gift aid
Donations - Symphony Schools (restricted)		 2022
£
(2,427)
20,705
24,642
42,920		 2021
£
22,390
2,793
25,714
50,897

An adjustment of £10,201 has been made for debtors that should not have been brought forward from previous years, consequently donations were previously overstated.

3. OTHER INCOMING RESOURCES

Fundraising events 2022
£
1,961
1,961		 2021
£
24,367
24,367

The aggregate amount of trustee donations without restrictions to the charity amounts to £nil (2021: £nil).

The aggregate amount of trustee donations by trustees with restrictions to the charity amounts to £nil (2021: £nil).

4. CHARITABLE ACTIVITIES COSTS

Symphony
Unrestricted
Schools
£
£
Consultancy
-
1,350
Staff and volunteer costs
12,000
-
Programme Activity Costs
10,837
15,308
22,837
16,658		 Totals
£
1,350
12,000
26,145
39,495

9

SYMPHONY CONSORT

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 JULY 2022

5. GOVERNANCE COSTS

Accountancy fee
Independent Examiner’s fee		 2022
£
540
540
1,080		 2021
£
960
540
1,500

6. OTHER RESOURCES EXPENDED

Insurance, utilities, etc
Telephone
Advertising
Bank charges
Office costs
Bookkeeping
Depreciation
Other expenditure		 2022
£
2,950
(2,257)
756
888
(307)
-
1,500
-
3,530		 2021
£
1,770
4,808
2,893
709
1,530
1,240
1,500
55
14,505

An adjustment of £9,825 has been made for creditors that should not have been brought forward from previous years, consequently programme activity costs, telephone and office costs were previously overstated.

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 2022

8. STAFF COSTS

There were no staff costs during the year.

9. TANGIBLE FIXED ASSETS

COST OR VALUATION
At 1 August 2021
Additions
At 31 July 2022
DEPRECIATION
At 1 August 2021
Charge for year
At 31 July 2022
NET BOOK VALUE
At 31 July 2022
At 31 July 2021
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
3,000
-
1,500
2022
£
-
1,446
-
__
1,446
2022
£
10,498
4,080
____
14,578		 Totals
£
4,804
-
4,804
3,304
1,500
4,804
-
1,500
2021
£
8,468
2,793
1,733
_____
12,994
2021
£
20,322
3,000
_____
23,322

11

SYMPHONY CONSORT

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 JULY 2022

12. RELATED PARTY TRANSACTIONS

There were no related party transactions for the year ended 31 July 2022.

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
2021
funds
£
£
(24,234)
(1,029)
(24,234)
(1,029)
10,302
1,805
(13,932)
776
e as follows:
Incoming
Resources
Resources
expended
£
£
20,239
(21,268)

24,642
(22,837)
44,881
(44,105)		 Transfers
between
funds
31 July
2022
£
£
(25,263)
-
(25,263)
-
12,107
-
(13,156)
Gains and
Movement in
losses
funds
£
£
-
(1,029)
-
1,805
-
776		 31 July
2022
£
(25,263)

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 had a surplus of £776 (2021 deficit of £7,611) for the year ended 31 July 2022 and has net liabilities of £13,156 (2021 net liabilities of £13,932) 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