DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
**The Charity Registration Number is :- 1174778**
## **The Henry Wood Chamber Orchestra**
**Trustees' Report and Financial Statements**
**30 June 2023**
**Domino Accounts (Hyde Park) Ltd** 42 Connaught Street Hyde Park London W2 2AA
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
## **Report and accounts for the year ended 30 June 2023**
|**Contents**|||
|---|---|---|
||**Page**||
|**Trustees' Annual Report**||1|
|**Statement of Trustees' responsibilities**||4|
|**Independent Accountant's Report**||5|
|**Statement of Financial Activities**||7|
|**Balance sheet**||11|
|**Notes to the accounts**||12|
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
## **Trustees' Annual Report for the year ended 30 June 2023**
The Trustees present their Report and Accounts for the year ended 30 June 2023.
## **Reference and administrative details**
## _**The charity name**_
The legal name of the charity is:- The Henry Wood Chamber Orchestra.
The charity is also known by its operating name, HWCO.
## _**The charity's areas operation and UK charitable registration.**_
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1174778.
The charity does not operate in any overseas jurisdictions.
## _**Legal structure of the charity**_
The charity is constituted as a Charitable Incorporated Organisation (CIO) in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the Charity Commission in England & Wales (CCEW) .
The governing document is dated 07 March 2017
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
The trustees are all individuals.
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DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
## **Trustees' Annual Report for the year ended 30 June 2023**
## **The principal operating address of the charity is:-**
C/o Timothy Evans Maitland Chambers, 7 Stone Buildings Lincoln's Inn, London WC2A 3SZ Telephone
## **The Trustees in office on the date the report was approved were:-**
Timothy Evans Christopher Gayford Christopher Landor
## **The following persons served as Trustees during the year ended 30 June 2023 :-**
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
## **The Chief Executive Officer to whom day to day management is delegated**
John Landor
## **Accountants**
Domino Accounts (Hyde Park) Ltd 42 Connaught Street London W2 2AA
## **Bankers**
Santander UK Plc, 2 Triton Square, Regent's Place, London NW1 3AN
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DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
## **Trustees' Annual Report for the year ended 30 June 2023**
## **Objects and activities of the charity**
## _**The purposes of the charity as set out in its governing document**_
The principal object of the Charity is the study and practice of fine orchestral and chamber music in order to foster public knowledge and appreciation of such music by means of public performance.
## _**A review of development, activities and achievements in this accounting period**_
The CIO was involved in two concerts this year: an orchestral concert on 3 December 2022 at St Mark’s Church, London NW1, featuring the Salomon Orchestra conducted by six developing conductors, and a piano recital on 23 June 2023 at St Martin-in-the-Fields Church, London WC2, featuring a young pianist, Dinara Klinton.
This relatively lower rate of concert activity was occasioned by a change in the relationship between the Charity and its usual performing venue, St Martin-in-the-Fields. Since the Covid 19 pandemic, new management and new directions for cultural activities at the church has meant that, despite strenuous lobbying, it has only recently become clear that the we will no longer be able to promote regular and frequent concerts at this venue in the future.
This is obviously a considerable challenge to the Charity, as the St Martin’s concerts have formed the backbone of its concert-giving activities over some 30 years. However, the Trustees also see it as an opportunity for a fresh start, to take new directions, and to rethink how the Charity might best fulfil its objects in the future.
The Music Director has responded by researching a wide variety of activities the charity could engage in, such as concerts at other venues, producing new concert formats, launching educational music activities, courses and retreats, partnerships with other organisations with corresponding objects, engaging new orchestras, promoting chamber concerts, and supporting young musicians and outreach programmes. As part of this research, he has attended a number of courses and seminars.
It also seemed an appropriate time to create an archive of the Charity’s activities, from past decades of audio and visual material from the many concerts promoted by the Charity over the years. As much of this material was originally on out-dated formats, considerable time and effort was required to gather it together, make transfers onto usable modern formats, and organise it. Apart from the value of this archive as historical record, it is envisioned that some of it could be reused by creating instructional videos for viewing on the internet for the benefit of the public. In conclusion, despite the new challenges the Charity faces, we are confident that, over time, we will gradually accelerate our activities and broaden our reach. We are helped by the fact that due to prudent management over the years, the Charity’s finances remain in a healthy position.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
## _**The policies and procedures for the induction and training of trustees**_
Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.
## _**The charity's financial position at the end of the year ended 30 June 2023**_
The financial position of the charity at 30 June 2023 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
|**Total Funds**
Unrestricted Revenue Funds available for
the general purposes of the charity
**Net income**|**2023**
**£**
4,250
151,075
151,075|**2022**
**£**
(15,690)
146,825
146,825|
|---|---|---|
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DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
## **Trustees' Annual Report for the year ended 30 June 2023**
## _**Policies on reserves**_
The Charity’s reserves policy to date has been, so far as possible, to maintain a basic revenue account reserve sufficient to pay the costs of 5 concerts. This is currently assessed at £60,000, leaving approximately £90,000 pounds. It is the Trustees’ policy to spend this money on the charity’s objects, but prudence dictates that at least some such expenditure should have an element of sustainability and growth. The reason this is so important to proceed in this way is that the charity can no longer rely on the concerts at St Martin-in-the-Fields, which, over 30 years, allowed the charity to break even at worst, and increase its reserves at best. The Trustees and Music Director spent last 12 months formulating a plan to replace the now lost St Martin’s revenue and considering new activities for the charity.
## **Statement of Trustees' Responsibilities**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP)
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-
- to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
- select suitable accounting policies and apply them consistently;
- 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;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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.
The Trustees are also responsible for the contents of the Trustees' report, and the responsibility of the Reporting Accountant in relation to the Trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.
This report was approved by the board of trustees on 17 January 2024.
**Mr Timothy Evans**
Trustee
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DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
## **Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 30 June 2023**
I report to the Trustees on my examination of the financial statements of the charity on pages 7 to 20 for the year ended 30 June 2023 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 12.
## **Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report**
As described on page 4, you, the charity's Trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination,
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Basis of Independent Examiner's Statement and scope of work undertaken**
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
5
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
## **Independent Examiner's Statement, Report and Opinion**
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by with Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements 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;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
I have no concerns and 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 financial statements to be reached.
## **Signed:-**
Yulia Hladio MAAT - Independent Examiner Domino Accounts (Hyde Park) Ltd 42 Connaught Street Hyde Park London W2 2AA
This report was signed on 18 January 2024
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DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra - Statement of Financial Activities for the year ended 30 June 2023**
## _**Statement of Financial Activities for the year ended 30 June 2023**_
|**Current year**
**Current year**
**Current year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**Income & Endowments from:**
Charitable activities
A2
516
-
**516**
Investments
A4
2,327
-
**2,327**
Other
A5
6,697
-
**6,697**
**Total income**
**A**
**9,540**
**-**
**9,540**
**Expenditure on:**
Charitable activities
B2
5,290
-
**5,290**
**Total expenditure**
**B**
**5,290**
**-**
**5,290**
**Net income for the year**
**4,250**
**-**
**4,250**
**Net income after transfers**
**A-B-C**
**4,250**
**-**
**4,250**
**4,250**
**-**
**4,250**
**Reconciliation of funds:-**
**E**
**Total funds brought forward**
146,825
-
**146,825**
**Total funds carried forward**
**151,075**
**-**
**151,075**
**Net movement in funds**
**SORP**
**Ref**|**Prior Year**
**Total Funds**
**2022**
**£**
26,613
924
-
**27,537**
43,227
**43,227**
**(15,690)**
**(15,690)**
**(15,690)**
162,514
**146,824**|
|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
**The notes attached on pages 12 to 20 form an integral part of these accounts.**
7
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
**The Henry Wood Chamber Orchestra - Statement of Financial Activities for the year ended 30 June 2023**
**The Henry Wood Chamber Orchestra - Resources applied in the year ended 30 June 2023 towards fixed assets for Charity use:-**
|Funds generated in the year as detailed in the SOFA
**Net resources available to fund charitable activities**|**2023**
**£**
4,250
**4,250**|**2022**
**£**
(15,690)
**(15,690)**|
|---|---|---|
**The notes attached on pages 12 to 20 form an integral part of these accounts.**
8
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
**The Henry Wood Chamber Orchestra - Statement of Financial Activities for the year ended 30 June 2023**
## **Movements in revenue and capital funds for the year ended 30 June 2023**
## **Revenue accumulated funds**
|**Unrestricted**
**Restricted**
**Funds**
**Funds**
**2023**
**2023**
**£**
**£**
Accumulated funds brought forward
146,825
-
4,250
-
**151,075**
**-**
**Closing revenue funds**
**151,075**
**-**
**Summary of funds**
**Unrestricted**
**Restricted**
**and**
**Funds**
**Designated funds**
**2023**
**2023**
**£**
**£**
Revenue accumulated funds
151,075
-
Recognised gains and losses before
transfers|**Total**
**Funds**
**2023**
**£**
146,825
4,250
**151,075**
**151,075**
**Total**
**Funds**
**2023**
**£**
**151,075**|**Last year**
**Total Funds**
**2022**
**£**
**162,514**
(15,690)
**146,824**
**146,824**
**Last Year**
**Total Funds**
**2022**
**£**
146,824|
|---|---|---|
**The notes attached on pages 12 to 20 form an integral part of these accounts.**
9
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
**The Henry Wood Chamber Orchestra - Statement of Financial Activities for the year ended 30 June 2023**
## **The Henry Wood Chamber Orchestra**
**Income and Expenditure Account for the year ended 30 June 2023 as required by the Companies Act 2006**
|**2023**
**£**
**_Income_**
Income from operations
515
Interest receivable
2,328
Other operating income
6,697
**Gross income in the year before exceptional items**
**9,540**
**Gross income in the year including exceptional items**
**9,540**
**_Expenditure_**
Charitable expenditure
3,981
Governance costs
1,309
Realised losses on disposals of social investments which are program
-
**Total expenditure in the year**
**5,290**
**4,250**
Tax on surplus on ordinary activities
-
**4,250**
**Retained surplus for the financial year**
**4,250**
**Net income after tax in the financial year**
**Net income before tax in the financial year**
Investment income|**2022**
**£**
26,613
924
-
**27,537**
**27,537**
42,327
900
-
**43,227**
**(15,690)**
-
**(15,690)**
**(15,690)**|
|---|---|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
## **The notes attached on pages 12 to 20 form an integral part of these accounts.**
10
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra - Balance Sheet as at 30 June 2023**
|Note
**SORP**
**Ref**
**2023**
**£**
**Fixed assets**
A
Investments held as fixed assets
6
A4
1
**Current assets**
B
Debtors
8
B2
650
Cash at bank and in hand
B4
152,389
**Total current assets**
153,039
**Creditors: amounts falling due**
**within one year**
9
C1
(1,965)
**Net current assets**
151,074
**The total net assets of the charity**
**151,075**
**Restricted funds**
-
**Unrestricted Funds**
Unrestricted Revenue Funds
14
D3
151,075
151,075
**Designated Funds**
**Total charity funds**
**151,075**
**The total net assets of the charity are funded by the funds of the charity,**|**2022**
**£**
1
650
147,323
147,973
(1,150)
146,823
**146,824**
-
146,824
146,824
**146,824**
**as follows:-**|
|---|---|
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts. The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 6.
The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
**Mr Timothy Evans**
Trustee Approved by the board of trustees on 17 January 2024
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DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
## **Notes to the Accounts for the year ended 30 June 2023**
## **1 Accounting policies**
## **Basis of preparation and accounting convention**
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
## **Going Concern**
The charitable activities are entirely dependent on trading revenues as well as continuing voluntary donations. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
## **Risks and future assumptions**
The charity is a public benefit entity. In determining the carrying amounts of certain assets and liabillities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.
## _**Policies relating to categories of income and income recognition**_
## **Nature of income**
Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
## **Categories of Income**
Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.
**Income from exchange transactions** is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.
**Income from a non-exchange transaction** is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
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DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
## **Notes to the Accounts for the year ended 30 June 2023**
## **Income recognition**
Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
## **Recognition of liabilities and expenditure**
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
## **Debtors**
Debtors are measured at their recoverable amounts at the balance sheet date.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle by obligation can be measured or estimated reliably. Creditors and provisions ar enormally recongnised at their settlement amount after allowing for any trade discounts due.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
There are no endowment funds.
13
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
## **Notes to the Accounts for the year ended 30 June 2023**
## **2 Liability to taxation**
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
## **3 Winding up or dissolution of the charity**
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
## **4 Significance of financial instruments to the charity's position**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value.
## **5 Remuneration and payments to Trustees and persons connected with them**
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
## **6 Investments held as fixed assets**
|**Investments**
**in**
**subsidiaries**
**£**
**Carrying values of investments**
At 1 July 2022
1
**At 30 June 2023**
**1**
**Analysis between fair value and historical cost**
Investments as above held at fair value
1|
**Listed**
**investments**
**£**
-
**-**
-|**Other**
**Classes of**
**Investment**
**£**
**-**
**-**
-|**Total**
**£**
1
**1**
1|
|---|---|---|---|
## **7 Subsidiary companies**
The name of the subsidiary undertaking is Henry Wood Chamber Orchestra Limited, registered in England & Wales with company number 10656453.
The aggregate amount of the holding company's investment in its subsidiary is **£1** , which represents 100% of the issued ordinary share capital of the subsidiary. The subsidiary is controlled by the holding company by virtue of the power to appoint directors to the board of the subsidiary.
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DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
## **Notes to the Accounts for the year ended 30 June 2023**
The subsidiary's activities relate to those of the holding company in that the subsidiary is a trading enterprise engaging in trades similar to the charitable activities of the holding company, and donates its entire taxable trading profit to the holding company by way of gift aid.
## **A summary of the unaudited financial statements of the subsidiary is :-**
|**_Assets and Funds_**
Aggregate amount of assets
Aggregate amounts of liabilities
Aggregate amount of funds
**_Profit and Loss_**
Turnover
Expenses
**_Net profit for the year before tax_**
**_Net profit for the year after tax and Gift Aid_**
**Funds retained within charitable subsidiaries**
The funds retained within the trading subsidiary and
included within the restricted funds in the notes to these
accounts are:-|**2023**
**£**
651
(650)
1
4,081
(4,081)
**-**
**-**
**2023**
**£**
-|**2022**
**£**
151
(150)
1
150
(150)
**-**
**-**
**2022**
**£**
-|
|---|---|---|
Amounts owing to and from the subsidiary are shown in the notes relating to creditors and debtors.
## **8 Debtors**
|**9**
**Creditors: amounts falling due within one year**
Accruals
**10 Contractual capital commitments**
At the financial year end, the charity had entered into contractual
commitments to acquire tangible fixed assets for the amounts shown. The
amounts have not been provided in the accounts.
Amounts owed to group undertakings and undertakings in
which the charity has a participating interest
Amounts owed by group undertakings and undertakings in
which the charity has a participating interest|**2023**
**£**
650
**2023**
**£**
1,315
650
**1,965**
**2023**
**£**
1
**1**|**2022**
**£**
650
**2022**
**£**
500
650
**1,150**
**2022**
**£**
1
**1**|
|---|---|---|
15
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
## **Notes to the Accounts for the year ended 30 June 2023**
|**11 Income and Expenditure account summary**
**At 1 July 2022**
Surplus after tax for the year
**At 30 June 2023**|**2023**
**£**
146,824
4,250
**151,074**|**2022**
**£**
162,514
(15,690)
**146,824**|
|---|---|---|
## **12 Related party transactions**
During the financial year there were no related party transactions that required disclosure.
## **13 Particulars of how particular funds are represented by assets and liabilities**
|**At 30 June 2023**
**Unrestricted**
**Designated**
**funds**
**funds**
**£**
**£**
Investments at valuation:-
_Fixed asset investments_
1
-
Current Assets
153,039
Current Liabilities
(1,965)
-
**151,075**
**-**
**At 1 July 2022**
**Unrestricted**
**Designated**
**funds**
**funds**
**£**
**£**
Investments at valuation:-
Fixed asset investments
1
-
Current Assets
147,973
-
Current Liabilities
(1,150)
-
**146,824**
**-**
**Change in total funds over the year as shown in Note 13 , analysed by**
**Funds**
**brought**
**forward**
**from 2022**
**Movement**
**in funds in**
**2023**
**See Note 15**
**£**
**£**
**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
146,825
4,250
**Total unrestricted and designated funds**
**146,825**
**4,250**
**Total charity funds**
**146,825**
**4,250**|**Restricted**
**Total**
**funds**
**Funds**
**£**
**£**
-
**1**
-
**153,039**
-
**(1,965)**
**-**
**151,075**
**Restricted**
**Total**
**funds**
**Funds**
**£**
**£**
-
**1**
-
**147,973**
-
**(1,150)**
**-**
**146,824**
**individual funds**
**Transfers**
**between**
**funds in**
**2023**
**Funds**
**carried**
**forward**
**to 2024**
**See Note 0**
**£**
**£**
**-**
**151,075**
**-**
**151,075**
**-**
**151,075**|
|---|---|
## **14 Change in total funds over the year as shown in Note 13 , analysed by individual funds**
16
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
## **Notes to the Accounts for the year ended 30 June 2023**
## **15 Analysis of movements in funds over the year as shown in Note 14**
|**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds|**Income **
**2023**
**£**
9,540
**9,540**|**Expenditure**
**2023**
**£**
(5,290)
**(5,290)**|**Other**
**Gains & Movement**
**Losses**
**in funds**
**2023**
**2023**
**£**
**£**
-
**4,250**
**-**
**4,250**|
|---|---|---|---|
## **16 The purposes for which the funds as detailed in note 14 are held by the charity are:-**
## _**Unrestricted and designated funds:-**_
These funds are held for the meeting the objectives of the charity, and to Unrestricted Revenue provide reserves for future activities, and, subject to charity legislation, are Funds free from all restrictions on their use.
## **17 Ultimate controlling party and liability of members**
The charity is under the control of its legal members.
If The Henry Wood Chamber Orchestra is wound up, the members of the organisation have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. At 30th June 2022 there were 3 members.
17
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
**Detailed analysis of income and expenditure for the year ended 30 June 2023 as required by the SORP 2015**
## _**This analysis is classsified by conventional nominal descriptions and not by activity.**_
## **18 Income from charitable activities - Trading Activities**
|**_Current year_**
**Current year **
**Unrestricted**
**Funds**
**2023**
**£**
**Primary purpose and ancillary trading**
-
516
**516**
**Current year **
**_Current year_**
**Unrestricted**
**Funds**
**2023**
**£**
Total income from charitable trading
516
**Total from charitable activities A2**
**516**
**Investment income**
**Current year **
**Unrestricted**
**Funds**
**2023**
**£**
Bank Interest Receivable
2,327
**Total investment income**
**A4**
**2,327**
**Total Primary purpose and ancillary**
**trading**
Sale of goods and services in
accordance with the charity's objects
Ticket Sales
**Total Income from charitable activities**|**Current year Current year**
**Restricted**
**Funds**
**Total**
**Funds**
**2023**
**2023**
**£**
**£**
-
**-**
-
**516**
**-**
**516**
**Current year Current year**
**Restricted**
**Funds**
**Total**
**Funds**
**2023**
**2023**
**£**
**£**
-
**516**
**-**
**516**
**Current year Current year**
**Restricted**
**Funds**
**Total**
**Funds**
**2023**
**2023**
**£**
**£**
-
**2,328**
-
**-**
**2,328**|**Prior Year**
**Total funds**
**2022**
**£**
30
26,583
**26,613**
**Prior Year**
**Total Funds**
**2022**
**£**
26,613
**26,613**
**Prior Year**
**Total Funds**
**2022**
**£**
924
**924**|
|---|---|---|
## **19 Total Income from charitable activities**
## **20 Investment income**
## **21 Other income and gains**
|**_Current year_**
**Total other income**
**A5**
Orchestra Tax Relief|**Current year **
**Unrestricted**
**Funds**
**2023**
**£**
6,697
**6,697**|**Current year Current year**
**Restricted**
**Funds**
**Total**
**Funds**
**2023**
**2023**
**£**
**£**
-
**6,697**
-
**-**
**6,697**|**Prior Year**
**Total Funds**
**2022**
**£**
-
**-**|
|---|---|---|---|
18
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
**Detailed analysis of income and expenditure for the year ended 30 June 2023 as required by the SORP 2015**
## **22 Expenditure on charitable activities - Direct spending**
|**_Current Year_**
**Total direct spending**
**B2a**
Management of charitable activities
Venue hire - Charitable activities
Services for charitable activities
Music Instruments & other equipment -
Charitable activities
Miscellaneous - Charitable activities
Musicians' fees - Charitable activities
Marketing and advertising of
charitable services
Sheet music for charitable activities
Production cost - Charitable activities
Travel and Subsistence - Charitable
Activities|**Current year **
**Unrestricted**
**Funds**
**2023**
**£**
-
410
815
-
2,560
-
157
-
39
-
**3,981**|**Current year Current year**
**Restricted**
**Funds**
**Total**
**Funds**
**2023**
**2023**
**£**
**£**
-
**-**
-
-
**410**
-
-
**815**
-
-
**-**
-
-
**2,560**
-
-
**-**
-
-
**157**
-
-
**-**
-
-
**39**
-
-
**-**
-
**-**
**3,981**|**Prior Year**
**Total Funds**
**2022**
**£**
**120**
**1,356**
**8,149**
**1,343**
**16,014**
**13,200**
**770**
**240**
**491**
**75**
**41,758**|
|---|---|---|---|
## **23 Support costs for charitable activities**
|**_Current Year_**|**Current year Current year Current year**
**Prior Year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Funds**
**Total Funds**|
|---|---|
|**_Administrative overheads_**|**2023**
**2023**
**2023**
**2022**
**£**
**£**
**£**
**£**|
|Office expenses|-
-
**-**
**521**|
|**_Professional fees paid to advisors other than the auditor or examiner_**||
|Other legal and professional|-
-
**-**
**48**|
|**Support costs before reallocation**|**-**
**-**
**-**
**569**|
|**Total support costs - Current Year**|**-**
**-**
**-**
**569**|
|The basis of allocation of costs between activities is described under accounting policies||
|All the expenditure in the prior year was unrestricted.||
The basis of allocation of costs between activities is described under accounting policies
19
DocuSign Envelope ID: 8782CCC2-1509-459B-B870-C0D405C50919
## **The Henry Wood Chamber Orchestra**
**Detailed analysis of income and expenditure for the year ended 30 June 2023 as required by the SORP 2015**
## **24 Other Expenditure - Governance costs**
|**_Current Year_**
Independent Examiner's fees
Accountancy fees
**Total Governance costs**|**Current year **
**Unrestricted**
**Funds**
**2023**
**£**
667
642
**1,309**|**Current year Current year**
**Restricted**
**Funds**
**Total**
**Funds**
**2023**
**2023**
**£**
**£**
-
**667**
-
**642**
**-**
**1,309**|**Prior Year**
**Total Funds**
**2022**
**£**
**-**
**900**
**900**|
|---|---|---|---|
All the expenditure in the prior year was unrestricted.
## **25 Total Charitable expenditure**
|**_Current Year_**
Total direct spending
**B2a**
Total support costs
**B2d**
Total Governance costs
**B2e**
**Total charitable expenditure**
**B2**|**Current year **
**Unrestricted**
**Funds**
**2023**
**£**
3,981
-
1,309
**5,290**|**Current year Current year**
**Restricted**
**Funds**
**Total**
**Funds**
**2023**
**2023**
**£**
**£**
-
**3,981**
-
**-**
-
**1,309**
**-**
**5,290**|**Prior Year**
**Total Funds**
**2022**
**£**
**41,758**
**569**
**900**
**43,227**|
|---|---|---|---|
All the expenditure in the prior year was unrestricted.
|**_Prior Year_**
Total direct spending
**B2a**
Total support costs
**B2d**
Total Governance costs
**B2e**
**Total charitable expenditure**
**B2**|**Prior Year**
**Unrestricted**
**Funds**
**2022**
**£**
41,758
569
900
**43,227**|**Prior Year**
**Prior Year**
**Restricted**
**Funds**
**Total**
**Funds**
**2022**
**2022**
**£**
**£**
-
**41,758**
-
**569**
-
**900**
**-**
**43,227**|
|---|---|---|
20