Warwickshire Symphony Orchestra Warwickshire Symphony Orchestra CIO Trustees, Annual Report & Financial Statements for the year l August 2023 to 31 July 2024 Registered Charity no. 1186320
Warwlckshlre Symphony Orehestra (CIO) Year Ended 31 July 2024 Contents Page Charity Flelerence and Administrative Oelails The Chairfs Staterngnt The Treasu8 Report Trusle8s' Report Independenl Examlnels Report Statement ot Financial Activities Balanc8 Sh881 Notes to the Financial Statèments
Warwickshire Symphony Orchestra {ClO) Year Ended 31 July 2024 Charity Relerence and Administrative Details Charity registratlon number 1186320 Trustees C.Vo$s (Chairl J.Maynard ITreasurerl S.Coldicott (Minutes secretary & venue manager) G.Whiting (Orchestra manageil P.Hinks (Malcolm Rowson award} A.Ranslord (Ticket secretary) S.Kelham-Gardner (Librarian) J.Slattord (Programme planner & safeguarding officer) P.Wain (Website & $o¢ial media officer) R•g1otor•d Offl¢• 15 Lansdowne Circus Leaminglon Spa Warwickshire CV32 4SW Bank•rn Lloyds Bank 720 Lewi8ham High St London SE13 6JG Ind•p•nd•nt Examln•r G.Cox 8A FCA Dafferns LLP One Eastwood Binley 8usiness Park Harry Weston Road Coventry CV3 2UB
Warwlckshire Symphony Orehestra (CIO) Year Ended 31 July 2024 The Chair's Siatement 2023-24 l am pleased to feport that the 2023-2024 season for the orchestra has been successful musically, financially and in developing th9 organisation. Last season, we reported that audience numbers had improved but the impact ol Covid had not been lully shak8n oll. This year audiences were back lo or even better than pre-covid levels as evidenced by the frantic rush at our final concert to pul out many more chairs to COP9 With the unexpectedly high numbers who had turned up. We again have been grateful lor the leadership ol Floger Coull and George Ewart as conductor and leader respectively. who have led Ihe orchestra lo high standards. and lo master challenging pieces in every concert. For our first concert we welcorned back Callum Smart who played the Elgar violin concerto, one ol the largest and demanding concertos. The orchestra then rose lo the challenge ol Rachmaninov's Symphonic Dances. Our family concert led by our Associalg Conductor, Paul Leddinglon Wright, was on the theme ol Kings and Quegns. Amongst Ihg highlights was the audience singing along lo Rob¢rt Ramskill's arrangement ol Dancing Queen. For our spring concert the Drcheslra played two pieces from Smetana's Ma Vlasl, Vltava and the rarely played sarka. The second half. the long and challenging Symphony no 2 by Elgar, was very well received. Our final concert leatured two very popular pieces. First Emily Wilson caplivaled the audience playing Weberfs clarinet concerto no 1. Dvorak's New World Symphony followed this. During th8 year, we awarded the second Malcom Flowson bursary to Justin Karki. Thè bursary is in memory ol our lorrner chair, Malcolm Rowson, and is a biennial award lo supptsrt young, talented double reed players. Tha trustèes have baen very busy during the yéar working on developing further the organisalion ol ihe WSO. This has includèd daveloping the website and enhancing our social media presence, the publication ol the members, Handbook and safeguarding guidance lor all in the orchestra. The altermalh ol Ihg RAAC conerèlè problem in schools, which closed our main rehearsal hall at Myton School, has led lo much work during the year lo lind suitable rehearsal v9riugs. Historically, much ol the back office working including lh8 wèbsite, databases and systarns. prograrnme and brochure development and publication, has been done by a former Iruslee, Arnanda Laidler. She is in th8 process ol stepping down from this work and we are working lo lake this on board. We have a group of hard wor1(ing Irusteeg, SUPPOrted by volunteers and Members ol the orchestra, both 10 ensure the day-lo-day running ol th& orchestra and lo meet the challenges that face us. Our success would not be possible without their continued dedication to the WSO. Finally. this is my first year as chair of the Warwickshire Symphony Orchestra. I musl pay tribute lo rny predecessoi, Raymond Joyce, whose dedication and hard work over many years has led lo the orchestra being In the position that it is in today. And to the advice that he has given to help in the transition. He is ol course still playing in and 19ading the horn section. Chrlg Vo88, Chalr
WaThvickshire Symphony Orchestra (CIO) Year Ended 31 July 2024 The Treasurer'$ Report 2023-24 The linan¢ial statements Show the financial performance of ihe orchestra for the year ended 31 July 2024 and the financial position as al that dale, The overall financial p8rformance has resulted in a lolal surplus (net income) lor the year of £5,037 12022-23 £1,383). This has increased the general unreslricled funds ol the orchestra by £5,861, with net expenditure of £824 allocated lo the designated Malcolm Rowson fund as an award was made this year. The funds ol the orchestra al 31 July 2024 tolal £56,180, and are represented mainly by cash balances and the only tangible asset ol the orchestra, a sel ol timpani and trailer. Financially 2023-24 has beern a successful year lor the orchestra. A number of factors have conlribuled lo this. Firstly, the main activity of the orchestra, the putting on ol the four concerts detailed in the Chair's report, yielded a much better financial performance than in previous years. This was principally due to increased audiences, particularly for the June concert. Tickets remained al their 2022.23 pricos, and sales through rn8mbgrs and the orchestra's website were excellent. Concert and rehearsal costs have varied in 2023-24 in comparison with the previous year, with savings made on soloigls and music hire expenditure, which is often a large outtlow ol funds, and yet higher lickel commission and rehearsal venue hire costs as the orchestra has had to Use allernalive vanues due lo the RAAC issue5 al Myton School. Secondly, members. subscriptions were raised al the start ol the y8ar in anticipation of continued depressed audience numbers following the Covid-19 pandemic. As relerr8d to above, the size ol our audiences exceeded all expectations. In addition Gift Aid receipts were greater Ihan the estimates which had been made lor previous years. Thirdly, the orchestra has gainéd trom the higher interest rates prevalent lor most 012023-24, th8 ellecl ol which has beon lo almo81 double investment income. And linally, the orchestra has benelitted from donations and sponsorship of £1,372. Thanks are due to all donors and sponsors lor their generosity. Tr) conclude this report, thanks are also due lo all those who have given their lime in assisting in the running ol the orchestra's activities and who have had a positive impact on linancial mallors. This includes those Involvod in publicity, managing the orchestra's website, social media and lickel and programmg salè$ both bèlor& and al ¢oncerts. Thank you also lo those who have helped this year with subscriptions collection and the provision ol rehearsal r•fr8$hmènls. Jenny Maynard, Trna•ur•r
Warwlckshire Symphony Orcheslra {ClO) Year Ended 31 July 2024 Trustees, Report The Trustees present their report and the financial statements ol the Charity for Ihg year ended 31 July 2024. The Trustees have adopted the provisions ol the Sialemenl of Aecommgnded Practice ISORPI Accounting and Reporting by Charities" IFRS 1021 in preparing thè annual report and financial slalements ol the Charity. The financial slaternents have been Pfepared in accordance with the accounting policies set out in notes lo the accouTrls and comply with the Charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities.. Sialemenl of Recommended Practice applicable lo charities preparing their accounts n accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021, ssued in October 2019. Objèctives and activiti08 Th8 primary objective of the Charity is lo educale the public and promote the appreciation ol mu$1¢ by the performance ol orchestral music concerts. Another aim for the Charity 1$ lo Support young soloists and lo $n¢ourage younger players lojoin the ofchestra, by keeping subscriptions al an affordable level. The WSO has been performing in Learninglon and Warwick $in¢? 1940, and as the Leaminglon Orchestral Socioly boloro Ihal. Ils play¢rs ar¢ drawn from all ovor th8 county and beyond. The orchestra pertorms in many venues including Wamick Hall. All Saints Church and the Royal Spa Centre in Leaminglon, and Covèntry Cathedral. Over the years, the orchestra has worked with many illustrious soloists such as Peter Donohoé and Nadin8 Benjamin, and young performers including Gillian Blair, Louise Brailhwaite and Callurn Smart. In 2014 Roger Coull was appointed parman9nl principal Gonduclor., ho has 8nhanced the WSO Iradititsn ol achieving the very highest musical standard. The WSO'S rep8rtoir8 includes popular classical pieces and concertos, the annual family concert with Associate Conductor Paul Leddinglon Wright, working with choirs such as the Learnington Bach Choir and the Coventry Cathedral Chorus, and ambitious and major works such as Holst's Thè Planets, Elgar, Mahler and Shostakovich symphonies, Slravinsky's Firebird and Vgrdi's Requigm. Stru¢tur•, governanc• •nd rn4nag•m•nt The Charity wa5 eslablishad on 13 November 2019 and funds from thè unincorporated charity Warwickshire Symphony Orchoslra Soci8ty Icharlty no 5072681 wera transferred lo the Charitab18 Incorporated Organisalion {CIOl on 1 January 2020. The power of appointing an additional Trustee or a new Truslge or Truslees is vested in the members or the existing Tnjslees. The Trust does not have any employees., all Trustees are volunteers. The Tiuslees have assessed the major risks lo which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfièd that systems and procedures are in place lo miligale exposure lo the major risks. Main activities undertaken to further the charity'8 purposes for the public Ixn¢fit The Trustees have relgrred lo the guidance contained in the Charity Commission's genera5 guidance on public benefit when reviewing their aims and objectivès and in planning their future aclivrties. In particular, the Trustees consider how planned activities will contribute lo the aims and objèctives they have sel.
waCk$hire Symphony 0heStra (CIO) Year Ended 31 July 2024 Trustees, Report Iconlinued) Achi•vements and perfommncè Review of a¢tivltia• The ¢harity'8 Sncome is pnmarily obtalned from orchestral concerts and Income ended for the year ended 31 ju 2024 wa8 £28,46412023'. £23,422}. chatlty has made a surplus of £5,03712022: surp18 £1,383). Golng ¢<mcwft After maklng approprlate enquirleg, the Trustees have a reasonable expectation that the Charrty has adequate resources to conllnue in oper8tlonal existence for the foreseeable future. For thls reason, they ctmtinue to adopt the going concem basis In preparing the financial statements. R••orvM pollcy It is the pollcy of the Twstee5 to m8int8in sufficient cash reserves lo be avai18ble In the evenl of unfoTeseen clrcumslanees, beyond the control of the Trustees. which could adversely affect fvlure income or expendtture. The level malntslned is consitlered lo be prudent, and should enote stfftienl fvnd5 to be avallable to support th8 applkalion and costs of govwnance. The level of cash rwrves at 31 Juty 2024 wa8 £51,509 {2023.' £48.4531. The Trujtees conslder the Fosillon to be satssfactory. At 31 July 2024 the trust has free reserves 01 £53.64212023: £47,781J We approve the Trustees, Report In our capath as TnJstee$. On beham of the Board C. Vo$$ (Chair} D•te.' 11 November 2024
Warwlckshlre Symphony Orcheslra {ClO) Year Ended 31 July 2024 Independent Examlner's Report to the Trustees of Wanvickshire Syrnphony Orchestra (CIO) (the 'Charity') for Ihe year ended 31 July 2024 I report to the Charity Trustees on my examination of the accounts ol the Charity for the year ended 31 July 2024 which are set out on pages 7-14. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees ol th8 Charty you are responsible lor the preparation ol the accounts in aecordance with the requirgmenls ol the Charities Act 2011 I'lhe 2011 Act'l. I report in respecl of my examination ol the Charity's accounts cairied out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Dire¢iions given by the Charity Commission under seclion 14515llbl ol the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my gxaminalion. l Gan confirm that no matters have come lo my attention in connection with the examination giving me Cause to believe that in any material resp8cl'. Accounting re¢ords were not kept in respect of ltte Charity as required by section 130 01 the 2011 Act., or 2. Th8 accounts do not accord with those records,. or 3. Th? accounts do not comply with tho applicable requirements concerning the form and Content ot the accounts sel oul in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and lair, view which is not a maller considered as part ol an independent examination. I hov8 no concerns and have com8 across no other matters in conne10n with tho examination lo which attention Should be drawn in this r•port in order lo enable a proper understanding ol the accounts lo be reached. G.Cox BA FCA For and on behalf ol Dafferns LLP One Eastwood Harry Weston Road Binley Business Park Coventry CV3 2U8 Dated. Il JL)l(+
Wanviekshire Symphony Orchestra (CIO) Year Ended 31 July 2024 Stalement of Financial Activities Unrestricted Funds 2024 Total Funds 2024 Total Funds 2023 Note Incorne from: Donations and legacies Charitable activities Inveslrnenls 572 25.705 572 25.705 1.000 21,254 Totsl Inwme Expondlture on: Charitable activities 23,427 23,427 22,039 Total •xp•nditur• N•t Incom(exp0ndilUr•) 03 Transfers between funds Not mov•mont In lund8 Fleconclllatlon of lund•: Total funds brought lornard Total funds carried lorward The Statement ol Financial Activitlgs includes all gains and losses recognised in the year. The notes on pages 9 to 14 form part ol these financial slalement5.
Warwickshire Swnphony Orchestra {ClO) Year Ended 31 July 2024 &ance Shebt a8 at 31 July 2024 2024 2023 Fad A88•ts Tangible assets Curr•nt A*¥•ts Other debtors 5,411 3.357 Cash at bank and in hand 56,920 51.810 cTent Liabi41ios CTrthlorB: amounlB falling due rythin one year N•t curr A810ts 55 Not A880ts ChaTIty FuDd8 Unrestrthd fimds 11 Total Charmy Funds The financkl slatament8 wwe approved arKJ auth(Klsed lor Issue by the Board on 11 November 2024. Sbgned on behalf of Board ol Trustoes C. Vo88 Ichalr) J. Maynard ITasurI The noles OTr pages 9 to 14 fomi part ofthese financial 8t8tementS.
Warwickshire Symphony Orchestra {ClO) Year Ended 31 July 2024 Notes to the Financial Statements Accountlng pollcles 1.1 Bas13 of preparation of financial 8tstements The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Sialemenl ol Recommended Practice applicable lo charities preparing their accounts in accorclance with the Financial Reporting Standard applicable in the UK issued in October 2019, the Financial Reporting Standard applicable in the UK IFRS 1021 and the Charities Act 2011. The financial statements have been prepared lo give a true and lairf, view and have daparted from the Charities (Accounts and Reports) Flegulalions 2008 only lo the extent required to provide a true and lair view" This departure has involved lollowing the Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Roporting Standards app11cable in the UK and Republic ol Ireland issuèd in October 2019 rather than the Accounting and Reporting by Charities.. Stalomonl ol Recommended Practice effective from 1 April 2005 which has since baen withdrawn. The financial statements are prepared in Sterling which is the functional currency ol the Charity. Warwickshire Symphony Orchestra ICIOI meets the definition ol a public benefit enlily under FRS 102. Assets and liabilities are initially recognised at historic cost or transaction value unless otherwise slated in relevant accounting policy notes. The financial statements are prepared on a going concern basis undèr the historical c081 convention, modified to include certain ilems al lair value. The slgnificant accounting policies applied in the preparation ol these financial statements are sol out below. These policies have been consislenlly applied lo all years presenled unless oiherwise slated. 1.2 In¢om• All income is recogniséd oncè thè Charity has ènlillem8nt to th8 income, it is probable that the income will be received, and thè amount ol incoma recaivabla can be measured r91iably. For donations lo b8 r8cognised the Charity will have been notified ol the amounts and tho settlement dale in wnting. For legacies, 8nlitlamonl is the eartier of the Charity being nolilied ol an impending distribution or the legacy being received. At this point income is recognised. Income from Concert performance is recognised when the event has occurred. M9mbgrship subscription income is accountgd lor on an accruals basis. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is cognised al the time ol the donation. Interest on funds held on deposit is included when receivable and Ihe amount can be measured reliably by the Charity. Other income is recognised in the period in which il is receivable and lo the extent the goods have been provided or on completion ol the seNice.
Warwickshlre Symphony Orchestra (CIO) Year Ended 31 July 2024 Notes to the Financial Statements (Contlnued) 1.3 Expendlture All expenditure is accounted lor on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or conslruclive obligation to make payments to third parties. il is probable that the settlement will be required and the amount ol the obligation can be measured reliably. 1.4 Tangible Fixed Assets Tangible fixed assets are stalod al cost less accumulated depreciation. Cost includes costs directly attributsble lo making the asset capable ol oporaling as intend8d. Deprecialion is provided on all tangible fixed assels, al rates calculated lo wrilo oll the cost. less eslirnaled residual value, ol each asset on a syslemalic basis over ils expected useful lifg as ltsllows.. Equipment.. 10 yaars straight line 1.5 O•btor• Debtors receivable within one year are r8corded at tran8aclion price. 1.6 Liabiliti• Liabiliti8s are recognised when there 18 an obligation al the balance sheet dale as a result ol a past event, il is probable that a Iranster ol economic benefit will be required in settlement, and the amount ol the settlement can be eslimaled reliably. Liabilities are recognised al the amount that the Charity anlicipales il will pay lo settle the debt or the amount it has received as advan¢èd payment8 for the goods or services it must provide. 1.7 Fund a¢counting General funds are unreslricled funds which are available lor use at the discretion ol the Trustees in furtherance of the general objectives of the Charity and which have not been designal8d for other purposes. Unrestricted funds are availabl8 lor use al the discretion of the Trustees in furtherance of the general objectives ot the charity and which have not been designated lor other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purpose8. The aim and use ol each designated fund is set out in the noles lo the financial Statements. 10
Warwickshire Symphony Orchestra (CIO) Year Ended 31 July 2024 Notes lo the Fin8ncl81 Statemenls (Continued) 2 Income Irom donalions and lryacle8 2024 2023 Donatlons Legacies 572 Total Income trom donations and legacies were wholly attributablè lo unreslricled funds in both the curront and prec8ding year. 3 Incomè frorn eharltable actlvltle• 2024 2023 Ticket income Other concert income Sponsorship Mernbership subscription8 GiftAid Retreshmenls Other 13.306 1,257 800 7,815 2,198 229 loo 10,175 1,159 1.500 6.853 1,345 222 Tot•1 Income tTom charitable activities were wholly attributable to unrestricted funds in both the current and preceding year. 4 Income from Investments 2024 2023 Bank interest Total Income from investments were wholly attributable lo unrestricted funds in both the current and preceding year.
Warwickshire Symphony Orchestra (CIO) Year Ended 31 July 2024 Notes to Ihe Financlal Stalements {Conlinued) 5 Analys18 of •xpenditure on charbtable activltle8 2024 2023 Dlrert Costs Concert expenditur8 Rehearsal cosls Printing costs 10,493 8.90S 11,058 6.657 991 Su ort Costs Depreciation Gen9ral expens88 Malcolm Row$on Fund 350 689 944 3SO 1,798 Gov•rnanc• Co•1• Independent examinerf5 fee 900 900 Total charitable aclivitlgs Expendrture on charitable activities were wholly attributable to unr8slricled funds in both thè ¢urr8nl and preceding yaar. 6 Tru8tWg' •xp•n•o8 and remun•ratlon The Trustees nolther received nor waived any iemuneration or éxpanses during the y8ar12023 - £Nil}.
Warwickshire Symphony Orchestra (CIO) Year Ended 31 July 2024 Notes to the Flnanclal Statements {Contlnued) 7 Tanglbla fixed assets Equipment Cost Al 1 August 2023 Additions Disposals Al 31 July 2024 3,500 Depreclatlon Al 1 August 2023 Charge lor the year Disposals Al 31 July 2024 2,304 350 654 Net book value Ai 31 July 2024 Al 31 July 2023 Other debtor• 2024 2023 Other debtor8 Prepayments 4.637 774 2,447 Total 9 Credltors: amounts falllng due withln one year 2024 2023 Other creditors Accwals and deferred income 1,556 1,863 Total
WaThvlckshire Symphony Orcheslra (CIO) Year Ended 31 July 2024 Notes lo the Fln8ncial Statements (Conlinued) 10 Ststement of Fund8 Current Year Balance at 1 August 2023 Balance at 31 July 2024 Income Expendlture Unrestricted Fund8 General fund Designated lund= Malcolm Rowson Fund 47.781 362 28,344 120 122,4831 944 53.642 Total Th8 Malcolrn Rowson Fund is lo be used a$ a basis for an awardlgrani lor young talented double r88d players, as a Iribule lo Malcolm's memory, former Chair. 11 An8ly81s ol not as8èt8 by fund General Unrestricted Fur>d 2024 Do8lgnated Fund Total 2024 2024 Tangible assets Current assets Current liabilities 846 S3.738 942 e46 56,920 3,182 644 Totsl 12 R•lJt•d porty tr•nMclion8 There were no relalod party transactions during the year12023'. £nill. 14