## **Dovetail Orchestra Community Interest Organisation 1206563 Statement of Financial Activities for 16th January 2024 to 31st December 2024** The following accounts have been prepared in accordance with the Statement of Recommended Practice (SORP) issued by the Charity Commission to comply with the Executive Committee's obligations as the trustees of the Charity for keeping accounting records |**Income**
Donations
Prior Formation Income
Ticket Sales
Sales - Services
Sales - Products
**Grants**
Unrestricted
**Total Income**
**Expenditure**
_Direct Charity_
Musicians
Transport
Administration and Fundraising
Heating
Food & Drink
Workshops
Recording
Rent
Materials
Instruments
Insurance
Subscriptions
Marketing
Bank Charges
**Total Expenditure**
**Surplus/(Deficit)**|**2024**
**2024**
**2024**
**2024**
_General_
_South Glos_
_Bristol CC_
_Total_
_Restricted_
_Restricted_
_£_
_£_
_£_
_£_
8,174
8,174
5,010
5,010
2,282
2,282
617
617
109
109
40,750
40,750
6,700
6,700
3,740
3,740| |---|---| ||**56,942**
**6,700**
**3,740**
**67,382**| ||**2024**
**2024**
**2024**
**2024**
_£_
_£_
_£_
_£_
12,728
640
2,360
15,728
4,617
326
4,942
4,091
470
4,561
1,550
1,550
735
118
853
698
5,025
700
6,423
560
560
420
420
240
240
170
170
136
136
134
134
50
50
2
2| ||**26,130**
**5,665**
**3,974**
**35,769**| ||| ||**30,812**
**1,035**
**-233**
**31,614**| **Bank balance at 31[st] December 2024** **31,614** ## **Notes to the Accounts** 1. The accounts are prepared on a receipts and payments basis and no account has been taken of accrued/prepaid income or expenditure transferred on that date. ## **Reserves** Dovetail Orchestra’s reserves policy is designed in accordance with sound charity governance and is reviewed by the Trustees on an annual basis. The Trustees aim to hold 2 months of anticipated operating costs as unrestricted reserves, believing this target to be sufficient as Dovetail Orchestra has no salaried employees or premises. The amount held by Dovetail Orchestra at the end of 2024 was within this range. As Dovetail Orchestra is still a small organisation, the Trustees believe that a 2 month operating cost reserves policy is sufficiently prudent, whilst allowing the charity to maximise its use of funds to carry out its main service delivery and expand its operations. It is the aim of the Trustees to increase this reserves policy to cover 3 months of operating costs in the future, as the charity continues to grow. These accounts have been approved by the Board of Trustees Pippa Craggs, Chair, Dovetail Orchestra ## Chair ’ s Report for the Annual Accounts of Dovetail Orchestra As Chair of Dovetail Orchestra, I am pleased to present our annual report and financial statements for the year ending December 2024. This is our first set of accounts filed as a CIO, and demonstrates the strong foundations achieved through our fundraising and activities since our launch in 2022. Over the past year, we have made significant progress in delivering on our charitable objectives. Some of the highlights include: - Sustained growth of our regular weekly membership from 15 to 40 players, drawn from 17 countries. As we grow, we have successfully managed to balance our increasing cost base with grant awards and concert income, building a healthy unrestricted reserves fund to cover two months’ operating costs. - The introduction of a professional fundraiser, who has helped us gain grants from the Arts Council England, Bristol City and South Gloucestershire Councils, and a variety of small to medium-sized grant-making trusts including The Truemark Trust, The Edith M Ellis Charitable Trust, and The Nisbet Trust. - Partnerships with concert venues (e.g. Bristol Beacon and St George’s Bristol), charities (e.g. Aid Box Community) and organisations (e.g. Bristol Refugee Festival) that have helped expand our reach and work. - An increased delivery of concerts and workshops, and the recording of our first album, reaching diverse audiences in Bristol, South Glos and beyond. - The development of a board of Trustees, some of whom have lived experience of asylum-seeking issues and who have been instrumental through their knowledge of the sector. ## **Financial Overview** Our financial position reflects a healthy growth of grant-giving income year on year, ensuring that we can continue our work effectively. Key financial points from this year include: - Total income for the year was £67,382, with the main income sources being grants (£51k), donations (£5k) and ticket sales (£2k). - Expenditure amounted to £35,769, primarily allocated to music team costs (£16k), program delivery (£15k), and administrative expenses (£4.5k). - At the end of the year, our total funds stood at £31,614, ensuring financial sustainability and resilience for future activities. Our financial statements, prepared in accordance with relevant accounting standards and independently examined, reflect our commitment to transparency and accountability. ## **Challenges and Opportunities** The funding landscape for this sector remains competitive, as the need for supporting asylum-seekers remains firmly in the headlines. However, Dovetail Orchestra continues to offer a unique response, based on long-term intervention, creativity and the building of diverse skills. It is the view of this board that the Dovetail Orchestra offers an innovative and deeply effective response to the question of how to welcome and integrate displaced communities into this country. As the orchestra grows beyond 40 regular members so we need to consider running two groups, and the financial implications of that. This is being held in close review. Our mission is both to provide a sanctuary through music but also to ensure excellent levels of music-making. Bristol City Council announced a £52m funding gap in the year ending 2024. Our ability to continue workshops with Council-funded partners is impacted by that, however we are confident in securing alternative funding. Workshops remain a cost-effective means of reaching a variety of displaced and resettling people, and it is core to how we recruit new members. ## **Looking Ahead** As we move forward into the next financial year, our focus remains on strengthening our impact and sustainability. Key priorities include: - Enhancing governance through ongoing review of our policies and practices, improving operational efficiency and investing in our music teams and their leadership. - Strengthening financial resilience through growing our unrestricted reserves to three months’ operating costs. - Founding orchestras in Cardiff, North Finchley and Central London. Each will be dependent on local funding and strong partnerships. - Growing the work of the ‘Dovetail Ensemble’, a smaller group for more able musicians looking to gain professional experience, opportunities and contacts in the industry. They will act as a flagship for the wider work of the orchestra. - Expanding our applications to larger grant-making trusts and securing multi-year grants. - • Diversifying our income beyond ticket revenue and grants through launching an advocacy programme that will offer workshops to schools and organisations - Growing the team and the breadth of activities by appointing a steering group and a Lead for Advocacy and Community Engagement. ## **Acknowledgements** I would like to extend my sincere gratitude to my fellow trustees, our dedicated team, volunteers, partners and all those who have contributed to our success over the past year. Dovetail Orchestra remains an innovative and powerful organisation thanks to your continued input. Pippa Craggs Chair, Dovetail Orchestra March 26th 2025 **Independent Examiners Report to the Trustees of Dovetail Orchestra CIO (1206563)** ## **Respective responsibilities of Trustees and Examiner** The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the charities act) and that an Independent Examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general Direction, - given by the Charity Commission (under section 145(5)(b) of the Charities Act), and - to state whether particular matters have come to my attention ## **Basis of Independent Examiners Statement** My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with these records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in in audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below. ## **Independent Examiners Statement** In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that in, any material respect, the requirements to keep accounting records in accordance with section 130 of the Charities Act or to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. M J Bowles MJIB Accounting Ltd 20th February 2025