2023-08-31-accounts - Wolverhampton Symphony Orchestra

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Trustees’ Annual Report for the period

From : 1[st] September 2022 To 31[st] August 2023

Charity name: Wolverhampton Symphony Orchestra

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The object of the CIO shall be to promote, improve, develop and maintain public education in and appreciation of the art and science of music in all aspects by the presentation of public concerts and recitals and by such ways as the society through its committee shall determine from time to time.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The orchestra rehearsed weekly during school terms throughout the year. Concerts were held in November 2022, as well as March and June 2023.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	Trustees are aware of the Charity Commission guidance on public benefit and have been reminded of this.

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	The main achievements of the charity were the three concerts. Audiences for these events benefited from being able to listen to live orchestral music of a high standard. Young musicians of school age are given the opportunity to experience orchestral playing and repertoire beyond Youth Orchestra Standard

Review of the charity’s financial position at the end of the period	Para 1.21	As at 31stAugust 2023, the total orchestra funds stood at £17,941, an increase of £2876. The orchestra remains in a good position financially to fulfil its aims and objectives for the coming season
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The orchestra has a policy of holding operating reserves equivalent to 6 months concert plus fixed overhead costs (a minimum reserve of £5,000). This represents mitigation of the costs of putting on concerts even with no concert income. Some reserves, arising from donations to the orchestra, are also held to allow performance of less-performed works which would otherwise be too expensive to put on.
Amount of reserves held	Para 1.22	At the end of the period, donation reserves stood at £10,258 and operational reserves at £7,712. The balance of general funds is considered sufficient to cover reserves held in line with our policy, and the overall level held will be kept under review by the trustees.
Reasons for holding zero reserves	Para 1.22	N/A
Details of fund materially in deficit	Para 1.24	N/A
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	Trustees have no uncertainty about the orchestra continuing as a going concern. The principal source of income is subscriptions, and membership numbers remain healthy.

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Constitution as amended 3rdNovember 2022
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	CIO - Association Registered 21 Mar 2016 as amended on 31 Oct 2021 as amended on 03 Nov 2022
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Elected by members at AGM

Charity name	Wolverhampton Symphony Orchestra
Other name the charity uses
Registered charity number	1166140
Charity’s principal address	194 COMPTON ROAD WOLVERHAMPTON WV3 9JX

1 2 3 4	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
	David Cope	Chair
	Michael Clement	Secretary
	Lynn Curtis	Concert Manager
	Sean Massey	Librarian

Description of the assets N/A held in this capacity

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) David John Cope Position (eg Secretary, Chair Chair, etc) Date 5th October 2023

Registered CIO with Charity Commission No 1166140 FINAL ACCOUNTS for year ending Thursday, August 31, 2023

Brought forward at beginning
of theyear	15065

Receipts
Subscriptions	4,689
Concert Receipts	4,430
Gift Aid	1,660
Donations & Grants	1,580
Concert/Gig Fee	0
Play Day Income	205
Timp /Baffles Hire	130
Total Receipts	12,693
Payments
Rehearsal Room Hire	1,700
Concert Venue Hire	1,150
Extra Players	910
Soloists	800
Conductor: rehearsals	2,244
Conductor: Concert and playday	660
Leader	440
Making Music: Insurance and PRS	284
Publicity and Printing	0
Music Hire	1,533
Website	66
Miscellaneous	0
Total Payments	9,787
Receipts less Payments	2,906

Bank balance as at 31st August 2023	18,001
plus uncredited income	0
less uncleared cheques	60
revised bank balance as at	17,941
Cash book to date
Funds/Cash brought forward at beg of year	15,065
income	12,693
exp	9,817
Cash book balance ie actual balance	17,941

Variance	0