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 Treasu￿￿8 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. wa￿￿Ck$hire Symphony 0￿heStra (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: surp1￿8 £1,383). Golng ¢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