CHARTrY NUMBER 1202139 READING YOUTH ORCHESTRA (FORMERLY FRIENDS OF READING YOUTH ORCHESTIiA) TRUSTEES. REPORT AND AccouNTS FOR THE YEAR ENDED 31 JULY 2024 UNAUDITED
READING YOUTH ORCHESTRA TRUSTEES. REPORT AND ACCOUPUS FOR ThE YEAR ENDED 31 JULY 2024 CONTENTS PAGE Trustees. Report ststemenl of Truslees. ResponsibitieS Statement ol Financial Actiwb'es Balance Sheet Notes to Financial Statements 8-11
READING YOUTH ORCHESTRA TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2024 The trustees submit their report together wtlh the finanoal statements for the year ended 31 July 2024. The financial ststements comply with the Charities Act 2011. the goveming documents and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). OBJECTIVES AND ACTNMES The objects of the Orchestra shall be: 1. To provide an inclusive. welcoming and sociable musical environment for young orchestral players. 2. To advance the musical education of young people who liv8 in andlor attend school in th8 Reading or surrounding areas through the provision of orchestral training and the opportunty to perfomi in publlc. 3. To further such community or musical purposes as the Committee shall thlnk fit. ACHIEVEMENTS AND PERFORMANCE Across Ihe year, there were beeen 34 arKI 38 members, which is a gi)od level of grovrth from last year (31-32 members). We provided our young players vth tennly perforynance opportunities during the year: End of term perfomiance in December 2023, featuring a mixture of orchestral Ix8ces, carols and pieces by soloists and small groups of students. Celebrated our 80th Anniversary in a prestigious concert alongside Reading Symphony Orchestra in April 2024. Our orchestra played music from Lord of th8 Rings, then joined the adult orchestra on stage for a huge perfonnance of Elgar's Enigma Variations. Invited parents and supporters to an endthof-tenn celebration of our sbjdents. work in Jun8 2024, featuring orch8Stral pl$ plus solos and small groups from the young playérs. In additlon to perfomlng, our members also bènefit from social events such as watching th8 Royal Philhamionic Orchestra perfom. and games and quiz nights. Our continued relationship th the Aldworth Philhamionic Orchestra. and our new relationship with Reading Symphony Orcheslra, have continued to open doors for several members to play as part of lo¢al adult orchestras in Several of their conorts. We continue to build our students musical knowledge and repertoi. probiding esteemed local musicians for coaching and support. We seek out vrkS to learn by both well-known and lesser-known composers, such as Verdi, Elgar. Von Suppe, and De Beriot, as well as perfoming works by our RYO alurnni. We also maintain our ongoing relationships with local schools The Abbey and St Joseph's, the latter providing us with our rehearsal venue. Page 1
READING YOUTH ORCHESTRA TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY 2024 FUTURE PLANS Without any major anniversaries or projects planned for this year. we have a 'regular' season ahead, with end of t8mi perfomiances for parents in the Autumn and Summer, and our fomial Spring Concert planned for March 2025. We are conts'nuing with our successful fomiat of inviting orchestra members to form small ensembles for these performances, and are looking into h¢)w We can support their rehearsal process further. W8 will continue to organise social events throughout the year. and have established a Social Committee as a sub%roup of the main committee for this purpose. including representstion from our young members. Behind the scenes, the rollout of our new Google Workspace is planned for September, which includes email and slorage for committee members, allowing for more efficient and smoother operations and ¢ommunication with members. PUBLIC BENEFIT The Trustees have considered the guidance notes provided by the Charity Commlsslon on "Charities and Public Benefit- when deciding on the activit18s for the year. In assisting develop both the musical talent and self<onfidence of young peopl8, the charity hopes to improv8 their lives and their contribution to Reading society. Pagè 2
READING YOUTH ORCHESTRA TRUSTEES, REPORT (CoNnNUED) FOR THE YEAR ENDED 31 JULY 2024 RESERVES POLICY In th& development period of the chartty reserves must be hekj lo ensure that sufficient funds ara available to commit lo the hire of rehears81 venue space costs as well as being able to meet any shortfall in the event that a concert perfomiance fails to attract sufficient tiek8t sales. Our resaN8S at th8 balan¢8 sheet date of £17.789 have achieved the £15,000 target level previously sel by the trustees. The Trustees are aware that signtfieant inflation 11 ¢rode these re$6rves. and as the orchestra grows. the demands for larger space lo operatè should inerèasa th¢16val of ro$8rvoS Put asido to manage the Charity In a resw$lble and resilient way. The Trustees consider a SerVe kvel of up to £25,000 appropriate at the current time. FINANCIAL REVIEW Inrne for the year tolalled £10.767 (2023.'£9.091). This indude$ £500 Share of ino)m• from th• Joint ¢on¢ert (2022.. ¢on¢ert ticket sales £1.032). Our ¢on¢•rt generated a suWu$ of £380 (2023."£462) which has been added lo our reserves. The funds available inc¥eased frcth £11,980 to £17,789. INVESTMENT POUCY The chadty holds Insuffidenl reserves to hold them In any olher forni than cash. Short tem) surpkns ea$h is placed in an inleresl-beanng deposit account. STRUCTURE, GOVERNANCE AND MANAGEMENT Reading Youth Orchestra can trace il$ roots back lo before the end of the war In 1944. Th8 Orch&stra was regislergd as a Charitable Incorporated Organisalion with the Charity Commission on 2 March 2023 wllh tharity number 1202139. Tho currant Constituon was amended by EGM spedal resolution dated 6 Awll 2022. R•f•r•nc• and adrnlnlstratlv• d•lall• The operations of the charity are directed from the ftlong address.. - 27 Gipsy Lane Wokingham Berkshire RG40 2 BN Page 3
READING YOUTH ORCHESTRA TRUSTEES, REPORT (CoNTr4UED) FOR THE YEAR ENDED 31 JULY 2024 TRUSTEES The tnjstees who have served during the year were as fdlows.. Melanle Le Breuilly Bgeky Stswardson Alastsir Lyon Natacha Chen¢hery Agnieszka Debleka Pippa Moore Seohyeon 8aek Chair Secretary TaSurer Committee member Committ88 member Committee member Playing member of the Orthestra {appointed 7 Sept 2023, resigned 31 Juty 2024) Committee member lapptynted 4 November 2023) Playing m8mber of the Orchestra lappoinled 22 Sept 2024) lulla Pantea Abi Saxton From tSme lo time. trustees are Invited to loln the tK)ard based on thelr passlon for the chartty's activities and the skills they can bring to strengthen the slIS of the board. New trustees are Inducted through mix of briefings on the working$ of the Chanty and guidance documents provid by the Charity Commission. BANKING ARRANGEMENTS The Fund operates a current account and business inslanl access de1t account, both accounts are held at Barclays Bank plc. Signed on behall of Iruslees.. Becky Slewardson Trustee and Ss¢rntary Date.. October 2024 Page 4
READING YOUTH ORCHESTRA TRUSTEES, RESPONSIBIUTES FOR THE YEAR ENDED 31 JULY 2024 The Trustees are responsible for preparing the Trustees. Report and the finala1 ststements in accordance with applicable law and regulatiMs. Charity law requires the Trustees to prepare finanaal statements for each financial year in accordance with United lQngdom Generalty Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable w. Under charity law the Trustees must Trot approve the financial statements unless they are satisfied that they give a tru8 and fair view of the state of affairs of the chanty and of its nel incoming resources for that pericmj. In preparing these financial statements, th8 trustees are required to: ensure that the most suitable accounting policies are established and applied consistenlty.. make judgements and eslimates which are reasonable ar pwden¢ state whelher the applicable accounting standards and ststement of recommended accounting practice have be8n followed, subject lo any material departures disclosed and explained in the rinancial statements- and Prepare the financial statements on a 'going o)n(xm' basis unless it is inappropriate to presum8 that the charity will continue in operation. The Trustees have overall re$p)nsibllrfy for ensuring that the ¢h8rity has appropriate Systems and controls. flnaneial and olheThvisé. They arg also responsib16 for keeping proper ac¢ounting records which dlsclose wllh reasonable accurd¢y at any b.me the financial position of the ¢harty and enabl8 them lo ensure that the financial stslements comply with the 2011 Charities Act. They are also responsible for safeguarding the assets of the charity and for their proper application as required by charity law, and hence for taking reasonable steps for the prevention and d8teclion of fraud and other irregularities and lo provide reasonable assurance that.. the charity is operating efficienuy and effectivety; 811888ets are Safeguarded against unauthorised use or di8P08thn and are property applied; proper records are maintained and financial Infomialion used thin the ¢harity. ty for publi¢8lion. Is reliable.. the charfty complles relevant laws and regulations. The Iruslees soNod during the year and up to the date of this rep)rt are set out on page 3. Page 5
READING YOUTH ORCHESTRA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024 2024 2023 INCOME Donalions Received Memberships and ticket sales Mu51¢ hire and other income Bank Interest Received 1,675 8,547 356 7,623 1,380 10,767 9,091 EXPENDITVRe Rehearsals and concerts Memberships, insurance and adminlstration Other costs 4,225 3,684 325 Net inmINd resources for the period Nel Movement In lunds 5.809 4,022 Balan¢6 broughl foThvard al 1 August 2023 Balance carried forwar(l at 31 Juty 2024 Ail operations are continuing. l income was unrestrlctad in the p8riod. All funds were UnstrIcted in the current and preceding year The notes on pages 8 to 11 fomi part of thes8 accounts Page 6
READING YOUTH ORCHESTRA BALANCE SHEET 31 JULY 2024 Notes 2024 2023 CURRENT ASSETS Debtors Cash at 8ank arKI in Hand 17,789 12,694 CREDrroRS.. Amount falling due thin one year Creditors TOTAL NET ASSETS 11 ACCUMULATED FUND Unreslrict8d De$lgnated 16,789 11,980 Total Fund• 11 Approved and aulhorised for issue by the tru$te8s M I l October 2024 and signed on their beham by: ml MELANIÈ LE BHEUILLY Tnjsleg LYON TREASURER The notes on pages 8 to 11 fomi part of these a¢¢ounts Page 7
READING YOUTH ORCHESTRA NOTES To THE AccouNTS FOR THE YEAR ENDED 31 JULY 2024 CHARITY INFORMATION The principal actiwty of the entity is the operation of Reading Youth Orchestra. The Orchestra is registered with the Charity Commission England and Wales. The principal address of the entlty Is 27 Gipsy Lane. Wokingham. Berkshire. RG40 2BN. ACCOUNTING POLICIES Ba$1¥ of Accountlng The a¢Unts have been prepared in accordance the Charities SORP (FRS102} applicablè lo charities preparing Ihair accounts in accord8n¢e with the Finanaal Reporting Stsndards 8pplicable in the UK and Republic of Irekqnd and the Charities Act 2011 and UK Generally Accepted Practicè as rt applies from 1 January 2019. The a¢ts)unts have been prepared to give a 'true and fair. view and have departed from the Charities {Accounts and Reports) Regulations 2008 onty lo the exienl required to provide a 'true and lair This departuro has invotved following Accounting and Reporting by Chanties preparing It1r accounts in accordance with the Finandal Roporting Standard applicable In the UK and Republic of Ireknd IFRS1021. Reading Youth Orchestra meets the definition of a public benefft entity under FRS 102. Assets and liabilities are inllialty recognised al historical ¢osl or transaction value unle$$ otherwise stated in the relevant acntIng policy note. The trustees havo consldered Ihe Cent financial serVeS and anticipated cash flows for the coming year and believe it appropriate lo adopt golng concern basis of accountlng In preparing Ihe finandal statements Crltlcal accountlng Judg•m•nts and k•y •oUr¢ of •sllmatlon uncortalnty In tho applicallon of the charity's accounting policres. thich aro desc41bed In note 2, trustees are requlred lo make judgements. 6slimal8s and assumptions aL)ul the carrwng value of assals and liabilllies that are not readily apparent from other source$. The estimatson and undertying assumpuons are based on historical experience and other fa¢tors that are considered to bo relevant. Actual resuns may diffar from these estsmat•s. The e$tlmales and undedying assumption$ are reviewed on an onoing basis. Revisions to accounting eslimales are recogni$ed In the in which the estimate is revised if the revision affects only that peri(MJ, or in the wriod of revision and future porK$ rf lh& r8vislon affects the Ixirrent and future periods. In the view of the trustees, no assumptlons eonceming the fvtur• or tIMatIOn uncertainty affgcting the assets and liabilities al the balance sheet dalo are likety lo result In a material adjustment to their caIng amounts in the next financial year. Page 8
READING YOUTH ORCHESTRA NOTES To THE Ac¢ouNTS (CONnMUEDI FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POUCIES {contlnued) d) Flnanclal In$trum•nts The charity onty has finanaal assets and finanryal liabilities of a knnd that qualify as basic ffinandal instruments. Basic finanual instruments are initsally recrynised at transaction value and subsequenlty measured at their setuemenl value. Income All incoming resources are induded in the stslement of financial activibes when the ents'ty Is entitled to Ih• Income, receipt is probable. and the amryJnt can be quantsfied with reasonabl8 aecuracy. Donated services and facilities are included at the value lo the Charlty wh8r• this can quanlified.GrftS-lrkInd have been induded al market value. The value of servicA ol volunteor¥ has not been included in these accounts. Expendltur• Resources expendod are accounted for on an acuuaL8 basis. Valuo Add•d Tax The Trust is precluded from registering for VAT as its arAivitses are exempt under18gls1a0n. Exp8nditure is staled inclusive of VAT. J) D•btor• Trade and other debtors are recognised al the setuement amount due after any trade dl$¢ounl offered. Prepayments are valued at the amount PpaId after tsking a¢¢ount of any trade discounts due. Cradltor• and provl•lon• Creditors and provisions are reeognised when Ihe Charity ho$ a psent obllga16on resulting from a past event that will probatAy resum in the transfer of funds lo a third party and the amount du• to settle the obllgatlon can be measured or ests'maled reliably. Page 9
READING YOUTH ORCHESTRA NoTes To THE AccouNTS IcoNnNUED> FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES (contlnued) Cash and cash Oquivants Cash is represented by cash in hand and deposits with finanual instttutions repayable without penahy on notice of not more than 24 hours. Cash equlvants are highty liquid investrnents that mature in no more than three ffths Irom the date of aulSItion and that are readity cDnvertible to known amounts of cash with insignificanl risk of change in value Taxallon HM R8venue & Customs has agraod that the entity is entitled to exemptson from income tax, being established for charitsble purposes only. Accordingly, no tax liability arise$ on any surplus derived from entsty's activ.88. ACCUMULATED FUND The fund and ils income and expendituro are unrestrlcted within the boundaries of tho obj¢¢tlves as shown in the Trustees. RewrL Ouring the year the Iruslees have estsblished a designated fvnd of £1.000 to support students develop their musical talont, or provide musical opportunibes which they may not otherwise be 8ble to afford. TRUSTEES REMUNERATION No trustees receNod any remuneration for services as a trustee during the y8ar12023: none). Ona Iruslee was paid £1,2(M) (2023." £1.2> for her rol8 as artistic diroctor and nduCtOr to th8 orchestra. This payment was authised in accordance with strict rules assoclaled wlth such payments set out In accordance within the ojnstituting documents. Donations. including related Gfft Ad. received from Trustees totallgd £nil (2023.. £nlO CREDITORS 2024 2023 Accrued o)$ts FINANCIAL INSTRUMENTS 2024 2023 Financial assets meaSUd at amortised cost Financial liabilities measured at amortised cost 17,789 8,458 Financial liabilibes measured * amortised cost comprise ottK*r txeditors and accruals. Page 10
READING YOUTH ORCHESTRA NOTES To THE AccouNTS (CONTMJED) FOR THE YEAR ENDED 31 JULY 2024 Anatysis of assets and liabilities between funds Fund balances at 31 Juty 2024 are represented by . 2024 2023 Cash at bank Other current assets 17,789 12,694 (714) Designated fund$ a held in cash. Page 11