Trustees Report For the period 1[st] October 2022 to 31[st] July 2023
The Trustees present their report for the period ended 31[st] July 2023.
Structure, governance and management
The charity was established as a Charitable Incorporated Organisation on 27 October 2017. The charity is registered with the Charity Commission, number 1175404.
The Trustees who served during the year were: Ben Jennings Christopher Block Christina Leigh Clive Block Alexa Shepherd Tom Kidman (retired 3/09/2023)
The charity has a minimum of three and maximum of eight Trustees. The power of appointment and/or removal of a Trustee is vested in the members of the organisation. The trustees liability is limited and there is no requirement to contribute any funds on winding up.
The day-to-day administration of the charity is carried out by Ben Jennings.
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks.
Public Benefit
ln considering the strategies and policies of the Charity, the trustees have had due regard to the public benefit guidance published by the Charities Commission, in accordance with the Charities Act 2006. ln reviewing and developing Magna ties and future plans, careful consideration is given to the public
encourage the enjoyment of, and participation in music by the public at large. The ticket prices are purposely kept low though for regular venues they were increased for the 2022-23 season, this being the first increase since 2018. Prices now range from £12-£16 though the reduced price for under 18s remains at £2. The intention remains that the Orchestra's live performances are widely accessible.
Finance
The Trustees are responsible for preparing the accounts (Appendix 1.) in accordance with applicable law and UK generally accepted accounting practice.
Law applicable to charities in England and Wales requires the charity to prepare financial activities during the year and of its financial position at the end of the year.
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In preparing accounts giving a true and fair view, the trustees should follow best practice and
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Select suitable accounting policies and apply them consistently,
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Make judgements and estimates that are reasonable and prudent, State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the accounts,
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Prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records that disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the accounts comply with the Charities Act 2011 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.
The trustees were aware that the financial viability of the February concert was dependant on audience number and that a break-even point could not be guaranteed. However, this concert proved to represent the greatest contribution to the overall surplus.
In addition to ticket sales, there is income from bar donations and raffle ticket sales. The trustees also wish to recognise and express gratitude to those who support the charity by making donations and becoming Friends of Magna Sinfonia. The orchestra also benefits from Gift Aid, with many members Gift Aiding their subscriptions.
The accounts have been prepared in accordance with the accounting policies set out in note 1 of the A Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
th September to 31st
July. The reason for this was that the end of July was after the last event of the season but before the AGM - normally early September. This allows reports for the season just finished to be in place for presentation and approval at the AGM.
Total unrestricted funds as at the end of the 2021-22 season were £7,638 and at the end of the 2022-23 season were £12,551.
The accounts have been independently examined as required by the Charities Commission.
The Financial report (Appendix 1.) and Independent Examiners report (Appendix 2.) are separate documents which are found at the end of this report and are, as required submitted to the Charities Commission.
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Reserves Policy
ln accordance with best practice and Charity Commission guidance the charity maintains reserves in order to provide for contingencies that may arise in the future and to act as a buffer. The trustees define free reserves to be unrestricted funds which have not been designated for specific purposes. The Magna Sinfonia policy is to have in reserve an amount equivalent to the total cost of an average production. In line with this, the reserve amount is set at £7.000 and assets currently exceed this figure.
Orchestra Development
The trustees remain committed to the original objective for the orchestra, which was to provide an exciting platform for high-quality musicians (amateur through to professional) to experience top-quality conductors, varied repertoire, and a more focused, friendly setting in which to perform orchestral music. By maintaining this ethos, the orchestra has established a widely held reputation as premier amateur orchestra and has thrived.
Responsibility for the running of the orchestra and ensuring legal and Charity Commission compliance rests with the trustees, but the trustees may also co-opt members to assist with the running of the orchestra and are grateful to Bärbel Glaser, Caroline Poon and Christine Perry, who serve on the committee, taking on various roles.
2022-2023 Season
AGM and Season Launch
Sunday 11th September 2022 Parkstone Grammar School, Sopers Lane, Poole, BH17 7EP.
Season Launch
Rachmaninov Symphony No. 1
The Season Launch was not expected to be financially successful as it was funded solely by members donations. The event required funding of £835.15 over and above the donations received.
AGM
The meeting began at 2.30 pm and closed at 3.45 pm. The meeting was chaired jointly by Ben Jennings and Chris Block, who gave a summary of the 2020-21 season
As required by the Constitution, trustees are required to resign in rotation, but are eligible for re-election. In compliance, Chris Block & Ben Jennings resigned, but were re-elected by a unanimous vote by members.
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Autumn Concert: Symphonie Fantastique Saturday 15th October 2022, 7.30 pm All Saints Church, Castlemain Avenue, Southbourne, Bournemouth, BH6 5EH Programme
Dukas | Fanfare from La Peri Saint-Saens | Cello Concerto No. 1 Berlioz | Symphonie Fantastique Conductor: Natalia Luis-Bassa Soloist: Hannah McFarlane
This was a high-cost production and was expected to need financial support. In fact, the level of support was less than budgeted but did end with a deficit of £665.86 Audience: 123
Christmas Concert: Classical Christmas Crackers
Saturday 17th December 2022 3:00pm All Saints Church, Southbourne, Bournemouth, BH6 5EH A family friendly celebration featuring seasonal music and carols.
This was a light-hearted, low-cost production which yielded a surplus of £1,119.11. The number of tickets sold was disappointing at 88, but probably due to clashes with other seasonal events.
Spring concert: Carmina Burana
Saturday 25th February 2023 7:30pm
Lighthouse Arts and Entertainment Concert Hall, 21 Kingland Road, Poole, Dorset, BH15 1UG
The orchestra worked in partnership with SoundStorm Music Education Agency and was supported by Arts Council England. Performing alongside Magna Sinfonia were other musicians and a choir of 170 formed mainly of students from schools in Bournemouth, Christchurch and Poole.
Programme:
Adams | Short Ride in a Fast Machine Mussorgsky | Pictures at an Exhibition Orff | Carmina Burana
Soloists Isabelle Atkinson | Soprano, Morgen Michel | Tenor, Yuki Okuyama | Baritone
Conductor: Maxime Tortelier
production and fulfilled a long-held goal set by the trustees. The concert was judged a huge success by both musicians and the audience with many posting positive reviews. Working with young people was an important feature of the project, providing secondary school pupils with the opportunity to perform with a high-quality symphony orchestra and hopefully inspiring them to further involvement with music.
The principal factor determining the financial success of the event was audience number. A subsidy of £1,601.9 was received form SoundStorm Music Education Agency and the budget set for break-even was an audience of 445. In the event, 649 were sold ranging in price from £16.95 to £26.95 with under 18s able to attend for £6.95 and this resulted in the event being financially successful, creating a surplus of £3,091.72.
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Project Weekend: Mahler Symphony No. 5 Friday 31st March - Sunday 2nd April 2023 Parkstone Grammar School, Sopers Lane, Poole, BH17 7EP Conductor: Maxime Tortelier
This event was a continuation of the series of intensive rehearsals and play-through of In addition to members, the weekend also attracted musicians from further afield. As with previous project weekends there was no concluding public performance, though the play-through was open to invited family and friends.
The event was not expected to yield a surplus and in fact required a subsidy of £346.74.
Summer Concert: Music from Stage and Screen
Saturday 24th June 2023 All Saints Church, Castlemain Avenue, Southbourne, Bournemouth, BH6 5EH A programme of music from stage and screen
Bernstein | Symphonic Dances from West Side Story Copland | Rodeo Suite Williams | Star Wars Suite Conductor: Pete Harrison
The repertoire was expected to attract a larger than usual audience and this proved to be the case with 186 attending. With income exceeding budget and expenditure below budget, a surplus of £876.30 was generated.
2023-24 Season Programme
Season Launch and AGM
Sunday September 11[th] 2023 Parkstone Grammar School
Autumn Concert: Symphonic Spirituals
14[th] October 2023 7.30pm All Sants Church, Southbourne |American Suite | Slavonic Dances Florence Price | Symphony No. 1 Conductor:
Lighthouse
Sunday 22[nd] October 2023 Lighthouse, Poole. Joining Bournemouth Symphony Choir in the Concert Hall. This is an opportunity to support Lighthouse and work with this outstanding choir.
Vaughan Williams |Dona Nobis Pacem Rutter | Requiem Conductor: Gavin Carr
Christmas Concert: A Very Magna Christmas
Saturday 16[th] December 3.00pm - All Saints Church, Southbourne A family-friendly celebration featuring seasonal music and carols.
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Winter Concert: Famous Fifths Saturday 3[rd] February 2024 - Parkstone Grammar School, Poole Beethoven | Symphony No. 5 Sibelius | Symphony No.5 Conductor: Cayenna Ponchione
Summer Concert at The Priory
Saturday 25[th] May 2024 - Christchurch Priory Programme to commemorate 25 years since the Priory organ was rebuilt Bach | Toccata and Fugue in D minor (orchestral version) Poulenc | Concerto for Organ, Timpani and Strings Saint Saëns | Soloist: David Beeby Conductor: Peter Stark
End
This, the final version of Trustees Report was approved by the board of trustees at their meeting on 01.09.2024.
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APPENDIX 1.
Magna Sinfonia
Report of the Trustees for the period 1[st] October2022 to 31[st] July 2023
Statement of Financial Activities for the Period Ended 31[st] July 2023
| 2023 | 2022 | ||
|---|---|---|---|
| 10 months | 12 months | ||
| Note | £ | £ | |
| Income and Endowments from: | |||
| Donations and legacies | 2 | 12,106 | 12,285 |
| Other trading activities | 3 | 18,322 | 2,286 |
| ----------- | ----------- | ||
| 30,428 | 14,571 | ||
| ----------- | ----------- | ||
| Expenditure on: | |||
| Raising funds | 4 | 817 | 194 |
| Charitable activities | 5 | 24,698 | 12,749 |
| ----------- | ----------- | ||
| Total expenditure | 25,515 | 12,943 | |
| ----------- | ----------- | ||
| Net movement of funds | 4,913 | 1,628 | |
| Total unrestricted funds brought forward | 7,638 | 6,010 | |
| ----------- | ----------- | ||
| Total unrestricted funds carried forward | 12,551 | 7,638 | |
| ======= | ======= |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 9 to 12 form an integral part of these financial statements.
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Magna Sinfonia
Report of the Trustees for the period 1[st] October 2022 to 31[st] July 2023
Balance Sheet as at 31[st] July 2023
| 2023 | 2022 | ||
|---|---|---|---|
| 31 July | 30 September | ||
| Note | £ | £ | |
| Current assets: | |||
| Cash at bank and in hand | 12,635 | 5,986 | |
| Prepayments | 166 | 2,067 | |
| ----------- | ----------- | ||
| 12,801 | 8,053 | ||
| Creditors: amounts falling due within one | |||
| year | |||
| Accruals and deferred income | 250 | 415 | |
| ----------- | ----------- | ||
| Net current assets | 12,551 | 7,638 | |
| ----------- | ----------- | ||
| Net assets | 12,551 | 7,638 | |
| ======= | ======= | ||
| Funds of the charity: | |||
| Unrestricted income funds | 12,551 | 7,638 | |
| ----------- | ----------- | ||
| Total funds | 12,551 | 7,638 | |
| ======= | ======= |
The financial statements on pages 7 to 12 were approved by the trustees,
and authorised for issue on........01.09.2024............... and signed on their behalf by:
......................................... Ben Jennings Trustee
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Magna Sinfonia
Report of the Trustees for the period 1[st] October 2022 to 31[st] July 2023
Notes to the Financial Statements for the Period Ended 31[st] July 2023
1 Accounting policies
Statement of compliance
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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Magna Sinfonia meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
This represents the total value of all donated income and any other income receivable by the charity. This is accounted for on a receivable basis. Legacies are accounted for only once there is both the certainty of receipt and the ability to provide an accurate valuation.
Income from other trading activities
This represents monies received from ticket sales and other incidental receipts from concerts produced by the charity.
Expenditure
Resources are mostly expended on venue hire, musicians fees and other associated costs incurred in the production of concerts, as approved by the trustees during trustee meetings.
Raising funds
These are costs incurred in publicising concert events which generate income for the charity.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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Magna Sinfonia
Report of the Trustees for the period 1[st] October 2022 to 31[st] July 2023
Notes to the Financial Statements for the Period Ended 31[st] July 2023
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
meetings.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company 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 to charitable purposes.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
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Magna Sinfonia
Report of the Trustees for the period 1[st] October 2022 to 31[st] July 2023
Notes to the Financial Statements for the Period Ended 31[st] July 2023
| Note | 2023 | 2022 | |
|---|---|---|---|
| £ | £ | ||
| 2 Donations and legacies | |||
| Donations and subsidies | 3,257 | 1,296 | |
| Concert subscriptions | 7,441 | 9,836 | |
| Gift Aid reclaimed | 1,408 | 1,153 | |
| ----------- | ----------- | ||
| 12,106 | 12,285 | ||
| ----------- | ----------- | ||
| 3. Other trading activities | 2023 | 2022 | |
| £ | £ | ||
| Ticket sales and subscriptions | 16,525 | 1,802 | |
| Programmes and catering income | 1,797 | 484 | |
| ----------- | ----------- | ||
| 18,322 | 2,286 | ||
| ----------- | ----------- | ||
| 2023 | 2022 | ||
| 4 Expenditure on raising funds | £ | £ | |
| Advertising and publicity | 817 | 194 | |
| ----------- | ----------- | ||
| 2023 | 2022 | ||
| 5 Expenditure on charitable activities | £ | £ | |
| Venue hire | 10,126 | 2,183 | |
| 12,654 | 9,469 | ||
| Other concert production costs | 820 | 140 | |
| Administration | 556 | 957 | |
| Charitable donations | 292 | - | |
| Governance costs | 7 | 250 | - |
| ----------- | ----------- | ||
| 24,698 | 12,749 | ||
| ----------- | ----------- |
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Magna Sinfonia
Report of the Trustees for the period 1[st] October 2022 to 31[st] July 2023
Notes to the Financial Statements for the Period Ended 31[st] July 2023
| Note | 2023 | 2022 |
|---|---|---|
| £ | £ |
6 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration, benefits or expenses for the year under review. Four trustees were reimbursed a total of £1,928 for
| 2023 | 2022 | ||
|---|---|---|---|
| 7 | Governance costs | £ | £ |
| 250 | - | ||
| ----------- | ----------- |
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APPENDIX 2.
Magna Sinfonia
Independent 1[st] October 2022 to 31[st] July 2023
Independent Examiner's Report to the trustees of Magna Sinfonia
I report to the charity trustees on my examination of the accounts of the charity for the 10 months ended 31[st] July 2023 which are set out on pages 7 to 12.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts.
period under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:
Charity Commission (under section 145(5)(b) of the Charities Act, and
My examination was carried out in accordance with 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 explanations from 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 matters set out in the statement below.
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
the Charities Act or
I have come across no other matters in connection with the examination to
which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
.............................................................. 02.09.2024.
Alan Murray 72 Churchfield Road Poole Dorset BH15 2QP
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