2024-07-31-accounts

The Birmingham Philharmonic Orchestra Charitable Incorporated Organisation Registered Charity Number 1193786

Trustees’ Annual Report and Accounts

for the period from 1[st] August 2023 to 31[st] July 2024

Trustees’ Annual Report:

Objectives and Activities:

Trustees’ Annual Report:	Trustees’ Annual Report:
Objectves and Actvites:
Summary of the purposes of the charity as set out in the governing document	The objects of The Birmingham Philharmonic Orchestra Charitable Incorporated Organisaton (BPO CIO) are the advancement of the art and science of music, by the study, practce and public performance of music, and by such other actvites as the Birmingham Philharmonic Orchestra’s trustees mayfrom tme to tme determine.
Summary of the main actvites in relaton to those purposes for the public beneft, in partcular, the actvites, projects or services identfed in the accounts.	The BPO performed seven full orchestral concerts in 2023/24, one chamber concert and accompanied one choral concert, all for the public beneft. These included concerts in parts of the West Midlands which may not otherwise have access to full orchestras. Ticket prices were kept reasonable in order to enable public access to classical orchestral music. The BPO also provided signifcant playing and other opportunites for students at the Royal Birmingham Conservatoire and ran a ‘play alongside’ morningforyoung people.
Statement confrming whether the trustees have had regard to the guidance issued by the Charity Commission on public beneft.	The trustees confrm that they have read the Charity Commission guidance on public beneft and that the orchestra has complied with this guidance in this fnancialyear.
Additonal informaton:
Policyongrant making	N/A
Policy on social investment including program-related investment	N/A

A1.1

Contributon made by volunteers	The BPO’s members are all volunteers and give their tme and expertse for the beneft of the orchestra. Many members and their families also make a signifcant contributon to the running of the orchestra in a variety of diferent ways and involving considerable amounts of tme.
Achievements and Performance:
Summary of the main achievements of the charity, identfying the diference the charity’s work has made to the circumstances of its benefciaries and any wider benefts to society as a whole.	The concerts performed by the BPO in 2023/24 included concerts in Birmingham as well as in parts of the West Midlands which may not otherwise have access to full orchestras. Ticket prices were kept reasonable in order to enable public access to classical orchestral music.
Financial Review:
Review of the charity’s fnancial positon at the end of the period	BPO Productons Ltd. has put on concerts on behalf of the CIO and for it to be able to claim Orchestra Tax Relief on eligible costs; the benefts of which ultmately fow back to the CIO. A claim for £11,545 of Orchestra Tax Relief will be made. The overall fnancial outurn for the CIO was net incoming resources of £6,532. The cash positon at the year end stood at £19,522 (2023 - £22,066). All income and expenditure was as expected from the actvites of the orchestra during the season
Statement explaining the policy for holding reserves statng why they are held	The trustees’ normal policy on reserves is that not less than £20,000 should be held in the bank account at all tmes. On 29thApril 2024 trustees agreed temporarily to reduce the reserves limit to £15,000 untl the end of the fnancial year. Reserves are held so that the orchestra can contnue to functon in the event of an unexpected loss of income or increase in costs.
Amount of reserves held	As at 31stJuly 2024 the BPO CIO held £46,734 of reserves. This was composed of Fixed Assets of £2,945, Current Assets of £43,789 and Current Liabilites of £Nil.
Reasons for holdingzero reserves	N/A
Details of fund/s materiallyin defcit	N/A
Explanaton of any uncertaintes about the charity contnuing as a going concern	The trustees, having considered the orchestra’s fnancial positon, have no fundamental concerns as to the orchestra contnuing as a going concern. Trustees hope to rebuild the orchestra’s reserves over the next two to threeyears.
Additonal informaton:
The charity’s principal sources of funds (including any fundraising)	The BPO’s principal sources of funds are members’ subscriptons and fees / tcket sales for concerts.
Investment policy and objectves including any social investment policy adopted	N/A

A1.2

A descripton of the principal risks facing the charity	Priorites for the season address the BPO’s underly risks and contnue the work we have been doing: 1. Make substantve appointments to principal vacancies 2. Recruit new violin and double bass players 3. Increase audience numbers 4. Contnue the process of recruitng a new Music Director.
Structure, Governance and Management:
Descripton of the charity’s trusts:
Type of governing document	Consttuton (latest version: BPO CIO consttuton V1.1 20200312)
How is the charityconsttuted	Charitable Incorporated Organisaton
Trustee selecton methods including details of any consttutonal provisions eg electon to post or name of any person or body enttled to appoint one or more trustees.	Trustees are elected at the charity’s annual general meetng. Trustees are usually members of the orchestra who have been nominated to undertake a specifc role on the commitee because they are deemed to have the relevant skills and interest. Electon of trustees is covered in the consttuton sectons 12 & 13. The consttuton does not exclude non-members being nominated for electon as trustees if they have the skills and interest to fulfl a vacant positon on the commitee.
Additonal informaton:
Policies and procedures adopted for the inducton and training of trustees	New trustees are given relevant informaton and are briefed by the Chair and their predecessor in the role theywill undertake.
The charity’s organisatonal structure and any wider network with which the charity works	The commitee (board of trustees) has responsibility for managing the afairs of the orchestra. The BPO has two sub-commitees to which the commitee’s functons are delegated (programme planning and Principals Forum). It also has a wholly owned subsidiary, Birmingham Philharmonic Orchestra Productons Limited (company number 14307160) which puts on the concerts on behalf of the BPO CIO. The BPO Handbook gives more detail of how the orchestra is organised and run (as allowed under secton 26 of the consttuton)
Relatonshipwith anyrelatedpartes	Relatedpartytransactons are reported in the accounts.
Reference and Administratve details:
Charity name	The Birmingham Philharmonic Orchestra Charitable Incorporated Organisaton
Other name the charity uses	The orchestra is commonly known as the BPO.
Registered charitynumber	1193786
Charity’s principal address	Royal Birmingham Conservatoire, 200 Jennens Road, Birmingham, B4 7XR.
Names of charity trustees who manage the charity:

A1.3

	Trustee name	Ofce (if any)	Ofce (if any)	Dates acted if not for whole year	Name of person (or body) enttled to appoint trustee
	Charlote Eminson	Chair			N/A
	James Roberts	Treasurer			N/A
	Christopher Bertram	Secretary			N/A
	Joanna Matnson	Marketng & Publicity Lead / Concert Manager from 26.11.2023			N/A
	Isabel Baumber	Librarian		Resigned 26.11.2023	N/A
	Patricia Moore	Concert Manager		Resigned 26.11.2023	N/A
	Alastair Moseley	Programme PlanningLead			N/A
	Simon Smith	Principals Forum Chair			N/A
	Andrew Devereux	Marketngand PublicityLead		Appointed 04.02.2024	N/A
	Kay Mellor	Stage Manager		Appointed 21.04.2024	N/A
	Corporate trustees: Names of the directors at the date the report was approved		N/A
	Name of trustees holding ttle to property belonging to the charity		N/A
	Funds held as custodian trustees on behalf of others:
	Descripton of assets held in this capacity		N/A
	Name and objects of the charity on whose behalf the assets are held and how these fall within the custodian charity’s objects		N/A
	Details of arrangements for safe custody and segregaton of such assets from the charity’s own assets		N/A
	Exempton from disclosure:
	Reasons for non-disclosure of key personnel details		N/A
	Declaratons:
	The trustees declare that theyhave approved the trustees’ report above.
	Signed on behalf of the trustees:
	Signature
	Full name		Charlote Jane Eminson
	Positon		Chair
	Date		6thJanuary2025

A1.4

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF THE BIRMINGHAM PHILHARMONIC ORCHESTRA CIO

I report to the trustees on my examination (which is not an audit) of the accounts of the Birmingham Philharmonic Orchestra CIO (the Orchestra) for the year ended 31st July 2024.

Responsibilities and basis of report

As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Orchestra’s accounts carried out under section 145 of the 2011 Act and in carrying my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• 1) Accounting records were not kept in respect of the Orchestra as required by section 130 of the Act; or

• 2) The accounts do not accord with those records; or

• 3) The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report.

As a result of my review, I have made three recommendations which the Trustees will hopefully consider and act upon in order to further professionalise the financial management of the Orchestra. However, none of these aspects are issues which require further disclosure or comment within my formal examiner’s report. In preparing this report I would ask the trustees to note that my examination is not an audit.

Signed

John B Scruton

John Scruton 48, Private Road Mapperley Nottingham NG3 5FQ

Date: 1[st] January 2025

A1.5

Statement of financial activities

For the year ended 31[st] July 2024

	Notes	Unrestricted Funds	Unrestricted Funds
		2024	2023
INCOMING RESOURCES		£	£
General income
Subscriptons		11,400	11,276
Donatons		3,572	3,804
Income tax repaid under Gif Aid	2.1	2,328	2,395
Sub-total general income		17,300	17,475
Concert income
Concert fees received		8,285	9,276
Ticket sales		14,096	5,948
Programme sales		133	312
Sub-total concert income		22,514	15,536
Total income		39,814	33,011
RESOURCES EXPENDED	2.2
Concert expenditure
Concert costs		27,608	20,970
Travel costs		-	23
Artsts' fees		1,200	1,200
Music hire		150	198
Hire of halls		-	1,453
Marketng & Publicity		1,416	927
Postage		-	16
Subscriptons and insurances		1,427	817
Depreciaton		780	1,013
Bank charges		85	95
Sundry expenditure		616	169
Accountng and professional		-	1,054
PRS fees		-	145
Total expenditure		33,282	28,080
Net incoming/(outgoing) resources		6,532	4,931
Reconciliaton of funds
Total funds brought forward		40,202	35,271
Total funds carried forward		46,734	40,202
The notes onpages A1.10 to A1.12 formpart of these fnancial statements.

A1.6

Statement of cash flow

For the year ended 31[st] July 2024

Note Total Funds 2024 £ Cash from operatng actvites (2,544) Net cash provided by/ (used in) operatng actvites Purchase of fxed assets 3 - Net cash provided by / (used in) investng actvites - Change in cash & cash equivalents in the reportng period (2,544) Rounding adjustment Cash and cash equivalents at the beginning of the period 22,066 Cash and cash equivalents at the end of the reportng period 19,522 RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES Net income/(outgoing) resources for the reportng period (as per Statement of Financial Actvites) 6,532 Adjustments for: Depreciaton charges 3 780 (Increase)/decrease in debtors 4 105 Increase/(decrease) in creditors 5 (1,900) (Increase)/decrease in loan to related party (8,061) Net cash provided by (used in) operatng actvites (2,544)	Total Funds 2023 £ (6,582) - - (6,582)
	28,648 22,066 4,931 1,013 206 1,129 (13,861) (6,582)

The notes on pages A1.10 to A1.12 form part of these financial statements.

A1.7

Balance Sheet

At 31[st] July 2024

t 31st July 2024
		Total	Total
	Note
		Funds	Funds
		2024	2023
		£	£
FIXED ASSETS
Tangible assets	3	2,944	3,724
Investments		1	1
CURRENT ASSETS
Debtors and prepayments	4	2,345	2,450
Bank current accounts		19,522	22,066
Loan to related party		21,922	13,861
Total		43,789	38,377
CURRENT LIABILITIES
Amounts falling due within one year	5	-	1,900
Current assets less current liabilites		43,789	36,477
Total assets less current liabilites		46,734	40,202
REPRESENTED BY:
Orchestra funds		46,734	40,202
Total		46,734	40,202

The notes on pages A1.10 to A1.12 form part of these financial statements.

Approval:

The annual report and financial statements on pages A1.1 to A1.12 were approved at a meeting of the trustees of The Birmingham Philharmonic Orchestra CIO held on 6[th] January 2025 and signed on their behalf by:

Chair: Date: 6[th] January 2025 Treasurer: Date: 6[th] January 2025

A1.8

Notes to the Financial Statements

For the year ended 31[st] July 2024

Note 1: Basis of preparation

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP): Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The accounts (financial statements) have been prepared to give a “true and fair view” and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a “true and fair view”. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The charity constitutes a public benefit entity as defined by FRS 102.

Birmingham Philharmonic Orchestra Productions Limited was incorporated in August 2022 and is a wholly owned subsidiary of the charity. It was created to take advantage of the allowances provided by Orchestra Tax Relief. The purpose of this entity is to put on concerts on behalf of the charity and so it incurs most of the costs required to achieve this. All income continues to be received by the charity. Accordingly, amounts are loaned from the charity to this entity to allow it to operate.

• 1.2 Going concern: The charity has more than sufficient liquid resources (cash at bank) to sustain its usual activities (including any projected shortfall of incoming resources against outgoing resources) for at least the next twelve months.

• 1.3 Change in accounting policy: The accounts present a true and fair view and the accounting policies adopted are those outlined in note 1. There have been no changes in accounting policy during the year under review.

• 1.4 Changes to accounting estimates: No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).

• 1.5 Material prior year errors: There were no material prior year errors.

A1.9

Note 2: Accounting Policies

2.1 Income

Recognition of income

Income is included in the Statement of Financial Activities (SoFA) when:

• the charity becomes entitled to the resources;

• it is more likely than not that the trustees will receive the resources; and

• the monetary value can be measured with sufficient reliability.

Offsetting: There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants & donations: Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).

Tax reclaims on donations and gifts: Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

2.2 Resources expended and liabilities

Resources expended : Expenditure is included on an accruals basis.

Creditors: Creditors are measured at settlement amounts less any trade discounts.

Liability recognition: Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

2.3 Assets

Tangible fixed assets: Tangible fixed assets are stated in the financial statements at cost less accumulated depreciation.

Depreciation: Depreciation is calculated at the rate of 10% per annum on a straight-line basis to write off the cost of tangible assets over their estimated useful lives.

Debtors: Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

A1.10

Note 3: Tangible assets

		Musical Instruments	Music Library	Total
		£	£	£
	Asset cost
	Balance brought forward	6,148	15,766	21,914
	Additons	-	-	-
	Balance carried forward	6,148	15,766	21,914
	Accumulated depreciaton
	Balance brought forward	4,971	13,219	18,190
	Charge for the year	159	621	780
	Balance carried forward	5,130	13,840	18,970
	Net book value
	Balance brought forward	1,177	2,547	3,724
	Balance carried forward	1,018	1,926	2,944
Note	4: Debtors and prepayments
		Total	Total
		Funds	Funds
		2024	2023
		£	£
	Recoverable Gif Aid	2,300	2,393
	Accounts receivable	45	-
	Subscriptons & insurance pre-payments	-	57
	Total	2,345	2,450
Note	5: Creditors
		Total	Total
		Funds	Funds
		2024	2023
		£	£
	Accrued expenses	-	200
	Deferred income	-	1,700
	Total	-	1,900

Note 6: Trustees’ transactions

During the year, one trustee received reimbursement for costs necessarily incurred in the course of undertaking the Orchestra’s business totalling £1,286.

None of the trustees have received any remuneration or other benefit for undertaking their role as Trustee.

A1.11