Chalr's Introdurtlon It gfves me greai phasfft to intr0th1 this yeaf's Tnjslees. Rewi th• East Riding The pasi year has been (Th of toth arlistic athi6vemeni and financial sl•bilis8ti0n. Fo[lovn9 a period of necessary investrnent arKI recovery. are FY01 to repryt a surplus and the rthilth'fVJ of ERCO'S reserves. This twnarcurKI is a testament to the dedution of our musiclans, SUppters. aThJ volunteers- arwj to the resilierKe ol liv8 music in our regiffl. ERCO continues to evolve its 8Tslic iderty wf•le remainiThJ kn to its mission., to bring Inspiring, higptrqualty Chestral perforn to &kfKgnces across East Yorkshire. Fr(xn our educational with sdmls at Hull City Hall. to the cinematic Vibr of WndoNs of the W)rfd, to the joy ofThe in Dth2mber- exh rfance has ht our communty tryathr thrOh the plr of musio I would like to thank my fellow trustees. Musical trector, and all those Vh have supported us throughout tho yew. As we l(N)k thead to oppcKtunities. we remain Committ to artistic axcellffth. acc8ssitiility, arttj the shared ujbjral lrfe of thè rngon we serie. Signed: Chair of the Trustees East RidiThJ Concert Ordstra
A. Oblecllves and Activitles The East Rlding CorKert Orchestra (ERCO) exisls to enrlch atural lrfe in East Yorkshire through INe orchestr81 muslc, educolion, and c(Mnmunty ervJagemenL provide hi quality public concerts ar*J support musical development thrgh collaborations WFlh Sch1$ and arts (Yganlsatims. . Achlevements and Performance In the 2024-2025 financial year, ERCO continwd to deliver h[gUallty pubtic aTrJ educational perf(Ymances, reaching diverse anCeS across East Yorkshire. Key pwfomiartes irled. - 23 April 24- Hull Cty Hall.. Schools in parknwship V4ith St Marfs Collegg, introduang hundred$ of Year 7 pupils lo live orchestral musi¢. - 12 Odober 2024- B8verfey Parkway Cinoma: V¥lnd(Ms ofthe Vrfd. a cinematic celelxalion of global music feattiring original arrangemerts and allence interaction. - 7 December 2024- Beverley PaY Cinema: A hlghly successftA performarKe of The Snlywman. comlxning film and INe orchestra in a solth(Krt family event. C Flnanclal Revlew ERCO Conded thè finaal yearv•ith an operatirvj surplus of £6.235. This surplus was hIeVed through a balanc comtmnation of ticketed events, unrestricted arKI restricted grant funding. and other incomfrgenerating activities. Key investments induded musician fees, equipment hire, arKI promotional efforts to support audierce growlh and culknral (xrtre8Lh. Notably. the surplus enabl&d ERCO to cjear a brought-forward deficti of £2,809, ending the period wth a rA)sitive balance of £3.627. This reflects improved finarrial resilience and provides a moJ8st reserve to supm fvture prts3ramming. Compared to the previous year (Jul 2(r23- Mar 2024), which recor an operating loss of £9,153. this represents a significant financial recovery. D. Reserves Policy The charity aims to maintain unrestricted reserves equivalent to at least three months of core operdting costs to ensure finarJaI sustainability and resilience against unforeseen all8nges. E. Strurture, Governan and Management ERCO is govemed by 8 Board ofTrustees. 1¢h meets regularfy lo oversee ¢)p8rations and ensure compliance. Day-ttrday management is carried out by the Musical Dire and Finance Officer in accordance with trLthfr4yroved p)licies.
Profit & Loss
The East Riding Concert Orchestra
Accounting Year 2024/25
| Debit | Credit | |
|---|---|---|
| Turnover | 21,041 | |
| Sales | 7,542 | |
| Grants - Non Restricted | 8,000 | |
| Grants - Restricted | 5,498 | |
| add Other Income | 4,000 | |
| Grant Income | 4,000 | |
| less Cost of Sales | 11,984 | |
| Equipment Hire | 480 | |
| Musicians | 11,504 | |
| Gross Profit | 13,056 | |
| less Administration Expenses | 6,742 | |
| Office Costs | 22 | |
| Web Hosting | 752 | |
| Computer Software | 298 | |
| Printing | 297 | |
| Stationery | 42 | |
| Licenses and Permits | 1,590 | |
| Miscellaneous | 13 | |
| Auto Expenses | 428 | |
| Accommodation | 408 | |
| Advertising and Promotion | 1,398 | |
| Leasing Payments | 340 | |
| Accountancy Fees | 387 | |
| Music Score | 278 | |
| Charitable Donations | 142 | |
| Subscriptions | 147 | |
| Insurance | 199 |
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| less Depreciation | 80 | |
|---|---|---|
| Depreciation Charge | 80 | |
| Operating Profit | £6,235 | |
| less Drawings | £0 | |
| less Profit & Loss journal entries | £0 | |
| Retained Profit this period: | £6,235 | |
| Retained Profit brought forward: | -£2,609 | |
| Distributable Reserves / Retained Profit carried forward: | £3,627 |
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