Trustees’ Annual Report for the period
From 01/01/2023 Period start date To 31/12/2023 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 four 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)
You may choose to include further statements where relevant about:
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 2023, HCO changed rehearsing space to enable more members to join (45 permanent at the end of the year). We also performed ambitious programming, meant to challenge our members and allow our audience to discover and enjoy novel experiences. We’ve also had to start recruiting for a new conductor ahead of January 2024, as our existing one is moving to Spain. |
Additional information (optional)
You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 |
Other
Financial Review
| Review of the charity’s financial position at the end of the period |
Para 1.21 | As a reminder, we ended 2022 in a strong position, with over £2.5k in the bank following a record proft. This meant we started 2023 knowing we could aford to keep memberships and ticket prices the same even though our costs were going up (new rehearsal space for example). We could also choose to invest in opportunities that weren’t necessarily going to be proftable. This led us to make a small loss in 2023 (£353) which we look back on as intentional and controlled: on top of our increased running costs (St George Bloomsbury), we chose some ambitious programming which required hiring skilled musicians (trombone and piano soloist for our frst 2 concerts, and many deps for the Planets). We still ended the year with still plenty of cash in the bank to support ourselves and are aiming to have slightly leaner concert costs in 2024 to avoid digging too deep into our reserves. |
|---|---|---|
| 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 2022, £2,221 was held in reserves - this is more than our 2x cash burn as we’re getting ready to hire a larger rehearsal venue. |
| 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 |
Additional information (optional)
You may choose to include further statements where relevant about:
| 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. |
Additional information (optional)
You may choose to include further statements where relevant about:
| 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 (if any) |
|
|---|---|---|---|---|
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Hannah Leddy | |||
| Raphaelle Roux |
||||
| Stephen Cripps |
||||
| Alison Martin | ||||
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 18/01/2025
2023 Summary financials - Holborn Community Orchestra
| PROFIT & LOSS | BALANCE SHEET | |||||
| 2023 | 2022 | 2023 | 2022 | |||
| Income | ||||||
| Membership | £ 4,406.00 |
£ 2,768.00 |
Trade debtors | |||
| Donation | £ 441.00 |
£ 904.00 |
Prepayments | |||
| Ticket sales | £ 3,715.76 |
£ 4,226.42 |
Cash | £ 2,221.31 |
£ 2,574.67 |
|
| TOTAL INCOME | £ 8,562.76 |
£ 7,898.42 |
Current assets | £ 2,221.31 |
£ 2,574.67 |
|
| Costs | Trade creditors | |||||
| Rehearsal venue | £ (4,587.00) |
£ (3,605.00) |
Accruals | |||
| Conductor fees | £ (2,040.00) |
£ (2,150.50) |
Other creditors | |||
| Musicians | £ (1,694.15) |
£ (675.00) |
Current liabilities | £ 0.00 |
£ 0.00 |
|
| Concert supplies | £ (594.97) |
£ (264.67) |
||||
| Software | £ 0.00 |
£ 0.00 |
Net assets | £ 2,221.31 |
£ 2,574.67 |
|
| Marketing | £ 0.00 |
£ 0.00 |
||||
| TOTAL COSTS | £ (8,916.12) |
£ (6,695.17) |
Retained earnings | £ 2,221.31 |
£ 2,574.67 |
|
| PROFIT | £ (353.36) |
£ 1,203.25 |
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