**REPORT OF THE TRUSTEES and FINANCIAL STATEMENTS for the year ended 5 July 2023**
**Registered Charity Number: 1170970**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
## **Report of the Trustees**
|1.|Classical Sheffield Objectives and Strategic Goals|Page 3|
|---|---|---|
|2.|Public benefit|Page 3|
|3.|Governance, structure and management|Page 4|
|4.|Activities, achievements and future plans|Page 5|
|5.|Thanks to funders, supporters and members|Page 9|
|6.|Statement of Trustee responsibilities|Page 9|
|7.|Financial Review|Page 10|
|8.|Independent Examiner’s Report|Page 11|
|9.|Financial Statements|Page 12|
||9.1
Statement of Financial Activities|Page 12|
||9.2
Balance Sheet|Page 13|
||9.3
Notes to the Financial Statements|Page 14|
|10.|CIO information – reference and administrative details|Page 17|
## **Report of the Trustees**
The Trustees present this report, together with the financial statements of the charity for the year ended 5 July 2023. The Trustees have adopted the provisions of 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 2015).
**Page 2 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
## **1. Classical Sheffield Objectives**
Having started life as a company in 2016, Classical Sheffield became a Charitable Incorporated Organisation (CIO) on 4th January 2017.
Trustees and members of the previous Steering Group established Classical Sheffield’s mission and vision through a process of debate and consultation with the classical music-making community of the city.
## **Vision**
Making more music, in more places, with more people
## **Mission**
Classical Sheffield is a local charity committed to championing classical music-making and connecting music-makers across the city of Sheffield.
## **Strategic goals**
Goal 1 Developing: cultivate a platform to strengthen and develop classical music-making in Sheffield
Goal 2 Advocating: be the voice of classical music-making across the city of Sheffield and beyond
Goal 3 Creating: enrich Sheffield’s cultural vibrancy through shaping a high-quality classical music offer
Goal 4 Building: actively support the vision to develop a physical home for classical musicmaking in Sheffield
## **Charitable objects**
The objects of the CIO as set out in the Constitution are _'to advance, improve, develop and maintain public education in, and appreciation of, the art and science of music in all its aspects by any means the Trustees think fit, including the presentation of festivals, events, public concerts and recitals’._
## **2. Public benefit**
Section 4 of the Charities Act 2006 requires trustees to have due regard to the public benefit guidance published by the Charity Commission. The trustees conduct an annual review of the public benefit derived from Classical Sheffield activities and are pleased to report that, despite the ongoing complications managing the various restrictions imposed by the COVID-19 pandemic, they have met this duty, the benefit being derived from the classical music events detailed in this report.
Members of the public have access to a high-quality website that is a ‘one-stop shop’ with regards to classical music-making across the city. All Classical Sheffield’s public information is written in plain, easy-to-understand English to enable anyone who is curious about classical music to find out more about what is on in the city and how to experience it.
Classical Sheffield continues to encourage voluntary and young music-making groups across Sheffield to collaborate with one another and with a range of musicians, performing a diverse repertoire of works, old and new, conventional and innovative.
**Page 3 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
Anyone based in and around Sheffield who is committed to the development and celebration of classical music in its widest definition can become a member of Classical Sheffield, whether an individual or a member of another group or organisation. Annual membership fees, which help support the operation of the CIO and deliver its programme, were collected for the first time in January 2018 and have been set as low as possible to enable anyone to become a member. Individuals or groups who lack the funds to become members are offered support to do so on a caseby-case basis.
Membership fees reflect the size of participating groups and organisations, and for 2022-23 were £1.80 per person, per year, with a minimum fee of £29 and a maximum of £180 (£5 minimum and £50 maximum for youth groups). Promoter members paid 0.65% of their annual income but with a similar minimum of £29 and a maximum of £180.
In return for their subscription, members are able to promote concerts, groups and organisations on the Classical Sheffield website, which has over 2,000 users per month on average, increasing to nearly 9,000 around the biennial Festival. Their events are also included in weekly listing bulletins and feature in Classical Sheffield social media, and of course all members are able to participate in festivals and events.
## **3 Governance, structure and management**
## **3.1 Governing document**
Classical Sheffield officially became a CIO (Charitable Incorporated Organisation) on 4 January 2017 and was entered onto the Register of Charities. It had previously been a limited company (number 10264934), incorporated 6 July 2016 and terminated 4 April 2017, with all assets and bank accounts transferred to Classical Sheffield, CIO.
The Constitution, drawn up on 16 December 2016, is based on the Charity Commission's model constitution for a CIO with voting members other than Trustees (the 'Association' model). The Constitution was accepted at the first AGM on 23 March 2018, and can only be amended at a meeting of the members.
## **3.2 Organisational structure**
Any member of Classical Sheffield may seek election to the Board of Trustees, as long as they are eligible under Charity Commission requirements. Trustees will normally be elected at the AGM, but may also be appointed by the existing Trustees during the course of the year. A Trustee Pack is sent to each Trustee following election; guidance documents produced by the Charity Commission help them to understand and meet their responsibilities as Trustees of a CIO.
The Trustees plan the activity of Classical Sheffield, meeting quarterly to ensure it benefits the public by meeting its charitable objects and supporting its members. They are helped by subgroups, each with a specific remit and agreed Terms of Reference, led by a Chair who is a Trustee, but with membership drawn from Classical Sheffield members and member groups. The Board of Trustees annually review the purpose and longevity of subgroups, as well as governance and policies.
The Trustees are responsible for appointing freelance officers to enable Classical Sheffield to meet its charitable objectives. In 2022/23 these were the Classical Sheffield Coordinator, Digital Marketing Officer and Web Developer. The Trustees are extremely grateful for the commitment and hard work of these individuals, who are listed in section 10 of this report.
**Page 4 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
## **4 Activities, achievements and future plans**
## **4.1 Activities and Achievements**
In 2022/23 events and audiences were still recovering from the pandemic and associated lockdowns, with many groups not having met or performed since autumn 2019. However, groups began to reconvene in spring 2022, and members’ activity gradually increased during the year.
Classical Sheffield supported members with returning to performing again during 2022. This included a pop up event in the city centre on The Moor as part of the Sheffield Festival Showcase Weekend 2022 on 3 September, featuring Crescent Recorders, Vivacity Choir, Thurgoland Community Choir and Sheffield Viola Ensemble. There were so many events happening around Christmas that Classical Sheffield decided to celebrate the huge amount of music taking place in the city during December. Posters and flyers highlighting the many events taking place were produced and distributed, creating a sense of city-wide community music-making with members supporting each other’s events. They were also all promoted on social media, building a greater online presence and engagement in advance of the 2023 Festival.
The 10th anniversary Festival Weekend took place from 17-19 March 2023, opening with a sell-out concert from Music in the Round and Ensemble 360 in Upper Chapel and culminating in a sell-out performance in Sheffield City Hall of Mahler’s _Resurrection_ Symphony, featuring four member groups conducted by George Morton. It was a huge success for all involved and we are so pleased with the results of the festival; there was an overwhelming buzz that was created from events taking place across the city, which helped to boost civic pride and excitement whilst bringing people together who are often hearing live classical music for the first time.
The whole event was evaluated by Dr Sarah Price (Lecturer in Music Industries, University of Liverpool) as part of her ongoing research into audiences for non-professional classical music events, and in particular how audiences engaged with the Festival. These insights will feed into future Classical Sheffield Festivals as well as inform the wider music sector.
Hallam Sinfonia, Sheffield Philharmonic Orchestra, Sheffield Philharmonic Chorus and Hallam Choral Society rehearse Mahler Symphony No.2 in Sheffield City Hall before the sell-out concert on 19 March
**Page 5 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
## Statistics of the Weekend:
- 72 hours of music-making
- 40 events in 10 venues
- over 1,000 musicians performed to more than 7,000 people
- 42 Classical Sheffield member groups took part
The survey question ‘what did you think of this performance’ produced the following word cloud:
## Highlights of the weekend:
- Special Classical Sheffield 10th anniversary commission, _**Being Human**_ **,** of 10 arrangements of pieces by folk star **Kate Rusby** , arranged by local choir leader **Kate Shipway** , premiered by four community choirs in Firth Hall on Sunday in the presence of Kate Rusby
- Over **1,000 people** watched **free live performances** in the **Winter Garden** on Saturday from 12 Classical Sheffield member groups, including around 50 young people in the Young Voices Choir, and several Young Music Makers performing in public for the very first time
- An open rehearsal from **The Hallé** on Friday attracted 150 people ahead of its evening concert in City Hall, attended by 800 people.
- Inaugural **Stella Jockel Young Composer Competition** led and organised by Sheffield Philharmonic Chorus, with joint winners Mason Birch and James Thomas sharing the first prize of £2,500 and their pieces being sung by Sheffield Philharmonic Chorus in City Hall as part of the performance on Sunday evening.
- Over **300 people** enjoyed a **free samba workshop** from Sheffield Music Hub Samba Band and Concord All Stars in Orchard Square
- A full house of over **1,400 people** enjoyed a performance of **Mahler Symphony No.2** in City Hall on Sunday evening in the presence of several dignitaries including **Oliver Coppard** , Sheffield City Region Mayor; **Dame Hilary Chapman** , Lord-Lieutenant of South Yorkshire; and **Sioned-Mair Richards** , Lord Mayor of Sheffield
**Page 6 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
## **Evaluation data**
Surveys were issued to audiences, and fully completed responses showed:
- 44% of attendees were not ‘friends and family’, showing its appeal to the wider city
- 34% were not regular attenders of classical concerts
- 6% said this was their first live classical music experience
- 12% had ‘stumbled on’ the performance, especially in the Winter Garden (29%)
- 15% of submitted forms were from people aged 17-35
The majority of respondents were from the South Yorkshire region (79%), with the remaining coming from Derbyshire (7%), elsewhere in the East Midlands (3%), elsewhere in Yorkshire and The Humber (2%), the North West (2%) and further afield. 228 respondents (42%) were regular concert-goers, 186 respondents were not (34%). For 34 respondents (6%), this was their first time hearing classical music live.
These statistics show that this Classical Sheffield Festival Weekend reached a significant number of people who do not usually attend classical concerts, and also attracted audiences from outside South Yorkshire. The performance of Mahler Symphony No.2 attracted the greatest number of people from further away, with only 56% of respondents coming from the South Yorkshire region.
## **Digital engagement**
With having the 10th Anniversary Weekend Festival in March 2023, traffic to our website and engagement on social media hugely increased year-on-year. Statistics and information for our digital and online activity as follows (with year-on-year comparison in brackets):
- 36,723 Visitors between July 22-July 23 (71% increase)
- 27,276 New users (30% increase)
- 43,764 Sessions on the website (44% increase)
- 87,352 Page views (20% increase)
- 2,100 Average monthly visitors (30% increase)
- Most clicked on page: 'Events' (same as previous year)
- The top ways people are coming to the website are Google Search / Direct Links / Facebook
- 464 Events uploaded by members in this period (2022: 353)
More people are engaging with Classical Sheffield on social media and the e-newsletter:
- Facebook: 1,192 Likes (8% increase)
- Facebook: 1,358 follows (8% increase)
- Twitter: 1,652 (5% increase)
- Email: 1,234 subscribers (11% increase)
- On average, 642 (48% of subscribers) open and engage with the weekly newsletter. Although this is likely due to it being a Festival year, it is worth noting that this figure is well above average for similar sector marketing communication (21.3%), showing that the newsletter is of interest to subscribers.
**Page 7 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
## **4.2 Future Plans**
Another Sheffield Festival Showcase Weekend in September 2023 gave groups an opportunity to perform to the passing public in Sheffield Central Library, and a general promotion of the seasonal activity in the region is planned for Christmas again.
Plans are underway for the Classical Weekend 21-23 March 2025, with a Working Group already in place, led by the Coordinator and supported by trustees. The theme will be families and young people, with the aim of encouraging members to think of ways of engaging young people as well as expanding the range of live music presented to appeal to audiences from a variety of different backgrounds. Links formed by members during the 2023 Festival Weekend are already continuing in the coming months and years, demonstrating its long-term legacy of sharing live music-making across the city.
Member groups are being asked to participate in Music in the Round’s 40th anniversary Sheffield Chamber Music Festival in May 2024, showcasing local music-making in Winter Garden as part of the anniversary celebrations, and it is planned for the world-class musicians of Ensemble 360 to be part of this event.
It is also proposed to update the website and its server during 2023/24, as it is becoming ever more of a focus for classical music in the city, and needs to be able to respond to increasing demand and provide more accessible and better information.
## **4.3 Thanks**
It has been an amazing year of music-making, seeing member groups beginning to perform again, and coming together to create some amazing events during the whole year, not just for the Festival Weekend. The trustees of Classical Sheffield are dedicated to the organisation and have been wonderful throughout the year. In 2022/23 the board expanded to 12 members, with Lucy Revis and George Nicholson joining as trustees, and their complementary experience of music-making is an exciting step forward for Classical Sheffield. Lucy is the inspiring Director of Sheffield Music School, interested in improvisation, pop and folk music as well as classical; and George Nicholson is Emeritus Professor of Music at The University of Sheffield, who keeps his creative hand in as Director of Sheffield Lydian Singers and President of the Sheffield Bach Society. Trustee Ruth Bacon stepped down in September 2022 after being involved with Classical Sheffield from its earliest days, and we would like to thank her for her support of the organisation over the last several years.
I would like to thank the members of the Finance & Fundraising Group for their constant support during the year, keeping on top of the finances and governance, especially the hard-working Treasurer Michael Buxton and Chair Anne Adams. Thanks are also due to Anne Adams, Sophie Anderson, Kate Shipway and Rose Wilcox for giving so much of their time and energy to the Working Group for Classical Weekend 2023. In particular, our Coordinator Rose has been an absolutely amazing producer of the Festival, submitting successful fundraising applications and planning events alongside developing relationships with new and long-standing members to produce a fantastic 10th Anniversary Festival Weekend.
## **Jo Towler, Chair, September 2023**
**Page 8 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
## **5 Thanks to funders, supporters and members**
Thanks are due to the generous organisations and individuals who fund and support our activities, especially Sheffield City Council for continuing to support us during another challenging year.
Special thanks are of course also due to our member groups and individuals, without whose passionate commitment to classical music in Sheffield, none of the achievements and performances listed in this report would have been possible. Members as of 5 July 2023:
Abbeydale Singers, Abbeydale Strings, Bakewell Choral Society, Black Velvet Clarinet Quintet, Bradfield Festival of Music, The Brigantes, Brian Wilshere, Candlelight Concerts, City of Sheffield Youth Orchestra, COMA Sheffield, Concerteenies, Crescent Recorders, Dore Gilbert & Sullivan Society, David Clover Festival of Singing, Darton Church, Elizabeth Charlesworth, Emma Hardy, Ensemble 360, Escafeld Chorale, First Position Strings, George Morton, Hailu Ni, Hallam Choral Society, Hallam Sinfonia, Hyuk Namkoong, Kaoru Bingham, Kristýna Farag, Lucy Phillips, Lucy Philips & Jonny Ingall, Music in the Round, Octogenesis, Opera on Location, Philip Collin, Platform 4, River Edis-Smith, Sheffield Bach Society, Sheffield Brass Network, Sheffield Cathedral, Sheffield Chamber Choir, Sheffield Chamber Orchestra, Sheffield Clarinet Ensemble, Sheffield City Trust (City Hall), Sheffield Lydian Singers, Sheffield Music Academy, Sheffield Music Hub, Sheffield Oratorio Chorus, Sheffield Philharmonic Chorus, Sheffield Philharmonic Orchestra, Sheffield Singers, Sheffield Symphony Orchestra, Sheffield U3A A Capella Singers, Sheffield Music Makers, Sheffield Theatres, Sheffield University Singers' Society, Sheffield Viola Ensemble, Sheffield Youth Orchestra, Shelley Walsh, Silver Spectrum, Singing In..., Sinsontes, Sonority, Stannington Mixed Choir, Steel City 5, Steel City Choristers, Sterndale Singers, The Endcliffe Orchestra, The Sheffield Chorale, The Singers, The University of Sheffield Concerts, Tom Pickles, Vivacity Choir, Waldershelf Singers, Westside Singers
Members that have joined since 5 July 2023: Madeleine Lake, Peak Music Society
We remain committed to providing opportunities for participation in high quality, accessible classical music both new and old, conventional and innovative, for increasing numbers of people from every part of Sheffield, so that our city truly experiences ‘ _more music in more places with more people’_ .
## **6 Statement of Trustee Responsibilities**
The Trustees are responsible for preparing the financial statements and annual report in accordance with applicable law and UK Accounting Standards. The Charities Act 2011 and Charity (Accounts and Reports) Regulations 2008 require 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, for that period. In preparing these financial statements, the Trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods of and principles in the Charity Statement of Recommended Practice;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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 2011, the Charity (Accounts and Reports)
**Page 9 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
Regulations 2008 and the Constitution. 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.
## **7 Financial Review (6 July 2022 to 5 July 2023)**
## **7.1 Overview**
Successful fundraising was vital to the success of Classical Weekend 2023, and we were fortunate to receive funding from five trusts and foundations, totalling £10,500 (see Note 9.3.2). Additional support from Sheffield City Council was also gratefully received, with their contribution for the year increasing to £4,000 (2022: £3,000). This income meant that the Festival Weekend could be promoted with significant marketing assets, with paid-for social media advertising being used for the first time. As a result, box office income for the Festival was £5,801, exceeding target by £476.
With several new members joining, and some members rejoining after the pandemic, income from subscriptions was £5,379 (2022: £4,028). With a few small donations from Amazon Smile and a contribution towards presenting an event in the Sheffield Showcase Weekend, total income for the year was £25,799 (2022: £7,058).
Expenditure for the year includes the annual costs for the Coordinator, Digital Marketing Officer, insurance and the independent examination, as well as the additional costs for the Festival Weekend for marketing support, promotion and Coordinator time, totalling £23,602 (2022: £7,290).
Our closing balance at the year-end for the Current Account was £10,567 and for the Premium Account (the reserves account) £9,040, totalling £19,607. This means we are now able to hold our Reserves Policy level in the Premium Account and use only the Current Account for day-to-day transactions, putting us in a healthy financial position and enabling us to plan for events during 2023/24 and beyond with confidence in an ever-increasingly volatile public funding environment.
## **7.2 Year on Year Comparison**
The financial strategy of the charity is to understand that there may be a need to carry forward a surplus during years where there has been a festival and a deficit in other years when Classical Sheffield plans small fringe events. This fluctuation in annual turnover is acceptable given the nature of an organisation presenting a biennial festival.
## **7.3 Risk Management**
The Trustees have developed a Risk Management Policy and have worked together to identify and mitigate the major risks to which the charity is exposed. Trustees regularly review these risks, including an annual review of organisational and financial risk, and are committed to monitoring a risk register and to continually improving the management of Classical Sheffield.
## **7.4 Reserves Policy**
The Reserves Policy is reviewed annually and is summarised here. Reserves may be needed to:
- enable Classical Sheffield to manage an unexpected need for funds, eg to enable a project to be moved forward quickly, or to secure a pre-event commitment.
- cover unforeseen day-to-day operational costs, for example, employing temporary staff to cover sickness absence of contracted staff, or replacing staff who suddenly leave.
- make up for a shortfall in income for particular projects where the income is already committed.
**Page 10 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
- provide funds needed to enable an orderly closure in the event of a decision to wind up Classical Sheffield.
Classical Sheffield has, and aims to maintain, a reserve of £9,000. Trustees aim to do this by prudent financial management, including seeking low-cost options wherever appropriate, reviewing the charity’s financial position at every Board meeting, and planning and delivering events within the budget restrictions agreed in advance.
## **7.5 Investment Powers and Policy**
Under the Memorandum and Articles of Association, the charity has the power to invest in any way the Trustees deem appropriate.
## **7.6 Fixed Assets**
The charity has no fixed assets.
## **8 Independent Examiner’s Report to the Trustees**
I report to the charity trustees on my examination of the accounts of Classical Sheffield for the year ended 5 July 2023.
## **Responsibilities and basis of report**
As the charity trustees of Classical Sheffield, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of Classical Sheffield as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Craig Williamson White Rose Accounting for Charities The Ghyll, Threaplan, Aspatria, CA72EL Date: 1 November 2023
**Page 11 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
_**More music in more places with more people**_
## **9. Financial Statements**
## **9.1 Statement of Financial Activities (including Income and Expenditure Account)**
**Year ended 5 July 2023**
|**INCOME**
Notes
Donations and legacies
9.3.2
Grants
9.3.2
Charitable activities
9.3.3
Investments
9.3.4
**Total**
**EXPENDITURE**
Raising funds
9.3.5
Charitable activities
9.3.6
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED**
**FORWARD**|**5 Jul 2023**
**Total funds**
**£**
5,397
14,600
5,801
25
25,823
1,008
19,594
20,602
5,221
14,260
19,481|**5 Jul 2022**
**Total funds**
**£**
4,057
3,000
-
1|
|---|---|---|
|||7,058
-
7,290|
|||7,290|
|||(232)
14,492|
|||14,260|
The statement of financial activities includes all gains and losses recognised in the period.
All income and expenditure derive from continuing activities.
**Page 12 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
## **9.2 Balance Sheet**
**Year ended 5 July 2023**
|Notes
**CURRENT ASSETS**
Cash at bank and in hand
**CURRENT LIABILITIES**
9.3.8
Creditors: amounts falling due within one
year
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
9.3.9
Unrestricted funds
**TOTAL FUNDS**|**5 Jul 2023**
**Total funds**
**£**
19,606
19,606
(125)
19,481
19,481
19,481
19,481
19,481|**5 Jul 2022**
**Total funds**
**£**
14,385|
|---|---|---|
|||14,385
(125)|
|||14,260|
|||14,260
|
|||14,260|
|||14,260|
|||14,260|
The financial statements were approved by the Board of Trustees on 01 November 2023 and were signed on its behalf by:
M Buxton –Trustee
Jo Towler – Chair
The notes form part of these financial statements
**Page 13 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
_**More music in more places with more people**_
## **9.3 Notes to the Financial Statements for the year ended 5 July 2022**
## **9.3.1. ACCOUNTING POLICIES**
## **9.3.1.1 Basis of preparing 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) issued in Oct 2019.
Classical Sheffield constitutes a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## **9.3.1.2 Cash flow statement**
The Trustees have taken advantage of the exemption in the Charities SORP from including a cash flow statement in the financial statements on the grounds that the organisation is a small charity with a turnover of less than £500,000.
## **9.3.1.3 Income**
Income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receipt is deemed to be probable, and the amount can be measured reliably. This includes receipt of membership subscriptions by member organisations where these are, in substance, donations rather than payment for goods or services, and grants of a general, noncontractual nature provided by government and charitable foundations.
## **9.3.1.4 Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
## **9.3.1.5 Taxation**
No provision has been made for taxation as the entity is a public benefit entity, which is exempt from UK direct taxation on its charitable activities.
## **9.3.1.6 Fund accounting**
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds. Income received for restricted funds is subject to specific conditions imposed by the donor or has been raised by the company for particular purposes. Designated funds comprise unrestricted funds that have been set aside by trustees for particular purposes.
**Page 14 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
## **Notes to the Financial Statements continued**
|**9.3.2. DONATIONS AND LEGACIES**
Donations
Grants
Subscriptions
Grants received:
Sheffield City Council
Sheffield Church Burgesses Trust
Sheffield Town Trust
Foyle Foundation
Freshgate Trust Foundation
**9.3.3. INCOME FROM CHARITABLE ACTIVITIES**
Ticket sales
**9.3.4. INVESTMENT INCOME**
Deposit account interest
**9.3.5. COSTS OF RAISING FUNDS**
Cost of fundraiser|**5 July 2023**
**£**
18
14,600
5,379
19,997
5,100
1,000
2,500
5,000
1,000
14,600
**5 July 2023**
**£**
5,801
**5 July 2023**
**£**
25
**5 July 2023**
**£**
1,008|**5 July 2022**
**£**
30
3,000
4,028|
|---|---|---|
|||7,058|
|||3,000
-
-
-
-|
|||3,000
**5 July 2022**
**£**
-|
|||**5 July 2022**
**£**
1|
|||**5 July 2022**
**£**
-|
**Page 15 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
_**More music in more places with more people**_
## **9.3.6. COSTS OF CHARITABLE ACTIVITIES**
|Direct Costs
Support Costs (including governance
costs)|**5 July 2023**
**£**
19,272
332
19,594|**5 July 2022**
**£**
6,930
360|
|---|---|---|
|||7,290|
## **9.3.7. TRUSTEES’ REMUNERATION AND BENEFITS**
While acting in the capacity of a Trustee, no person received remuneration or reimbursement of expenses for the period ending 5 July 2023. No Trustee received payment for professional or other services provided to the charity. There were no trustees' expenses paid for the period ending 5 July 2023.
## **9.3.8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Other creditors
**9.3.9. MOVEMENT IN FUNDS**
**Unrestricted funds**
General
**TOTAL FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Balance**
**at 6 July**
**2022**
**£**
14,260
14,260
**Balance**
**at 6 July**
**2022**
**£**
14,492
14,492|**5 Jul 2023**
**£**
**-**
125
125
**Income**
**Expenditure**
**£**
**£**
25,823
(20,602)
25,823
(20,602)
**Income**
**Expenditure**
**£**
**£**
7,058
(7,290)
7,058
(7,290)||**5 Jul 2022**
**£**
-
125|
|---|---|---|---|---|
|||||125|
|||||**Balance**
**at 5 July**
**2023**
**£**
19,481|
|||||19,481|
|||||**Balance**
**at 5 July**
**2023**
**£**
14,260|
|||||14,260|
## **9.3.9. MOVEMENT IN FUNDS**
## **9.3.10. RELATED PARTY DISCLOSURES**
There were no related party transactions for the period ended 5 July 2023
**Page 16 of 17**
## **Report of Trustees and Financial Statements for the year ended 5 July 2023**
## _**More music in more places with more people**_
## **10 CIO information - reference and administrative details**
## **10.1 Registered Charity Number**
1170970
## **10.2 Registered address**
4[th] floor, Sheffield Central Library, Surrey Street, Sheffield S1 1XZ
## **10.3 Trustees**
Anne Adams (Chair, Finance & Fundraising Subgroup)
Ruth Bacon (resigned 7 September 2022) Michael Buxton (Treasurer) Elizabeth Charlesworth Bill Clarke Georgina Hulse Jess O’Neill
George Nicholson (joined 1 December 2022) Nick Potter Lucy Revis (joined 1 December 2022) Judith Sunderland Jo Towler (Chair) Robert Webb
## **10.4 Coordinator**
Rose Wilcox
## **10.5 Independent Examiner**
Craig Williamson, White Rose Accounting for Charities, The Ghyll, Threapland, Aspatria CA7 2EL
## **10.6 Bankers**
Barclays Bank PLC, Pinstone Street, Sheffield S1 2HN
## **10.7 Freelance officers**
Classical Sheffield Coordinator: Rose Wilcox Digital Marketing Officer: Alexandra Burns Web Developer: Ian Parr
**Page 17 of 17**