2021-12-31-accounts

2021 Summary financials - Holborn Community Orchestra

PROFIT & LOSS			BALANCE SHEET
Income				2021	2020
Membership	£ 2,435.00		Trade debtors
Donation	£ 600.00		Prepayments
Ticket sales	£ 301.54		Cash	£ 1,371.42	£ 1,112.85
TOTAL INCOME	£ 3,336.54		Current assets	£ 1,371.42	£ 1,112.85
Costs			Trade creditors
Rehearsal venue	£ (810.00)		Acrruals
Conductor fees	£ (1,560.00)		Other creditors
Musicians	£ (530.00)		Current liabilities	£ 0.00	£ 0.00
Concert supplies	£ (62.75)
Software	£ (71.95)		Net assets	£ 1,371.42	£ 1,112.85
Marketing	£ (43.27)
TOTAL COSTS	£ (3,077.97)		Retained earnings	£ 1,371.42	£ 1,112.85
PROFIT	£ 258.57

1

Trustees’ Annual Report for the period

From 01/01/2021 Period start date To 31/12/2021 Period end date

Charity name: Holborn Community Orchestra

Charity registration number: 1181766

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	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 see fit, including through the presentation of public concerts and recitals
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The Holborn Community Orchestra is dedicated to organising accessible events, and building a community around love for music. All profits are re-invested in the orchestra, to improve and increase the opportunities for people to come together and play. Our musicians are of a range of backgrounds and levels, with ages ranging from 20s to 60s and diverse tastes in genres. We build on this diversity to form an open-minded, collaborative and inspiring amateur orchestra, which supports everyone of us in fulfilling their creative potential. Our events are designed to be accessible and affordable to most, and we welcome audiences of all ages and backgrounds to our performances.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The Holborn Community Orchestra is run by five trustees who are dedicated to help the charity deliver on its public benefit purpose. We are constantly looking for new ways of reaching out to new musicians and audiences to grow our community further, and of keeping our costs low to remain affordable to members and concert attendees.

Additional information (optional)

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SORP reference Para 1.38 Policy on grant making

Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	In 2021, HCO was able to renew with its pre pandemic activity, with weekly rehearsals gathering around 35 musicians of all ages and backgrounds to practice and socialise in a safe environment. The 2021 HCO membership was costed at £40 for a term of 10 rehearsals. Our ability to organise rehearsals is of huge value to the musicians who join us as members - for their musical development and fulfilment but also for their mental health, social anchorage and overall well being. The orchestra organised 2 quality yet affordable winter concerts, the first one as a relaxed performance welcoming children and individuals with special needs (tickets ranging from £0 to £5) and the second as a more traditional evening performance (tickets sold for £8). A total of 142 individuals attended those performances.

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Achievements against objectives set	Para 1.41

	Performance of fundraising
	activities against objectives	Para 1.41
	set
	Investment performance	Para 1.41
	against objectives
	Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	A small profit was made in 2021, which increased the charity’s reserves to £1,371. This is a healthy financial position to be in as we’re planning to increase our run rate costs in 2022 (bigger rehearsal space and higher conductor fees). We’re confident that our ticket sales revenue will increase in 2022 as we’ll be able to organise more events.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	Every term, the profit or loss of the orchestra is disclosed to the trustees for visibility, and at every AGM, the previous year’s final result is shared with the members alongside a proposal from the trustees for how profits are suggested to be invested / losses to be funded. We aim to hold at least 2 terms’ worth of cash burn to ensure our sustainability should one of our key suppliers fail us (rehearsal venue or conductor) or should income stop coming in for reasons out of our control (covid scenario). Anything on top of this minimum could be held for a specific reason (ambitious programming or audience targets, investment in equipment, etc.)
Amount of reserves held	Para 1.22	At the end of 2021, £1,371 was held in reserves - this is more than our 2x cash burn as we’re getting ready to hire a larger rehearsal venue and increase our conductor’s fees.
Reasons for holding zero reserves	Para 1.22	Not relevant
Details of fund materially in deficit	Para 1.24	Not relevant
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	Not relevant

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The charity’s principal sources of funds (including Para 1.47 any fundraising) Investment policy and objectives including any Para 1.46 social investment policy adopted

A description of the principal Para 1.46 risks facing the charity Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Constitution
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	CIO
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Trustees are elected every year to their specific positions by members during our AGM.

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Policies and procedures adopted for the induction and training of trustees	Para 1.51
The charity’s organisational structure and any wider network with which the charity works	Para 1.51
Relationship with any related parties	Para 1.51
Other

Reference and Administrative details

Charity name	Holborn Community Orchestra
Other name the charity uses
Registered charity number	1181766

Charity’s principal address 39 station crescent, N15 5BG, London

Names of the charity trustees who manage the charity

	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Hannah Leddy			~~(if any)~~
	Raphaelle Roux
	Stephen Cripps
	Alison Martin
	Alice Moore

Corporate trustees – names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity	None
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address adviser

Name of chief executive or names of senior staff members (Optional ~~information)~~

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

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

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Raphaelle Roux Position (eg Treasurer Secretary, Chair, etc)

Date 08/07/2024