2025-03-31-accounts - Bournemouth Symphony Orchestra

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`Trustees’report`	`4`
`Independentauditor’sreport`	`18`
`Statementoffinancialactivities(includingincome& expenditureaccount)`	`21`
`Balancesheet`	`22`
`Cashflowstatement& notes`	`23`
`Notestothefinancialstatements`	`24`

25 September 2025

				`Total`	`(AsRestated)`
		`Unrestricted`	`Restricted`	`Funds`	`TotalFunds`
	`Note`	`Funds`	`Funds`	`2025`	`2024`
		`£`	`£`	`£`	`£`
`Income& endowmentsfrom:`
`Donationsandlegacies`	`{`	`1,430,227`	`-`	`1,430,227`	`1,644,722`
`Grants`	`2`	`2,873,146`	`-`	`2,873,146`	`2,920,518`
`Incomefromcharitableactivities:`
`Orchestralconcertsandrelatedwork`	`3`	`2,215,186`	`230`	`2,215,416`	`1,979,626`
`Participate`	`3`	`137,397`	`-`	`137,397`	`393,309`
`Incomefromothertradingactivities`	`4`	`141,202`	`-`	`141,202`	`134,071`
`Investmentincome`	`5`	`118,545`	`-`	`118,545`	`82,252`
`Totalincome`		`6,975,703`	`230`	`6,975,933`	`7,154,498`
`Expenditureon:`
`Costsofraisingfunds:`
`Commercialtradingoperations`	`6`	`474,599`	`-`	`474,599`	`338,845`
`Expenditureoncharitableactivities:`
`Orchestralconcertsandrelatedwork`	`7`	`7,391346`	`14,276`	`7,405,622`	`6,781,957`
`Education`	`7`	`638,278`	`-`	`638,278`	`791,412`
`Otherexpenditure:`
`Totalexpenditure`		`8,504,223`	`14,276`	`8,518,499`	`7,912,214`
`Net(expenditure)beforetax`		`(1,528,520)`	`(14,046)`	`(1,542,566)`	`(757,716)`
`Taxreceivable`		`1,620,273`	`-`	`1,620,273`	`1,395,419`
`Netincomeafter taxbefore`
`investmentgains/(losses)`		`91,753`	`(14,046)`	`77,707`	`637,703`
`Net(losses)/gainsoninvestments`		`10,038`	`-`	`10,038`	`170,083`
`Net(expenditure)/incomefortheyear`		`101,791`	`(14,046)`	`87,745`	`807,786`
`Netmovementinfunds`		`101,791`	`(14,046)`	`87,745`	`807,786`
`Reconciliationoffunds:`
`Totalfundsbroughtforward`		`5,825,667`	`34,498`	`5,860,165`	`5,052,379`
`Totalfundscarriedforward`		`5,927,458`	`20,452`	`5,947,910`	`5,860,165`

				`(AsRestated)`
	`Note`		`2025`	`2024`
			`£`	`£`
`Fixedassets`		`;`
`Tangibleassets`	`14`		`454 292`	`439342`
`Investments`	`15`		`1,885,279`	`{833,746`
			`2,339,571`	`2,273,088`
`Currentassets`
`Debtors`	`16`		`2,393,340`	`2,047,936`
`Cashatbankandinhand`			`2,207,667`	`2,462,273`
			`4,601,007`	`4,510,209`
`Liabilities`
`Creditors:amountsfallingduewithinoneyear`	`17`		`(984,436)`	`(923,132)`
`Netcurrentassets`			`3,616,571`	`3,587,077`
			`5,956,142`	`5,860,165`
`Creditors:amountsfallingdueaftermorethanoneyear`			`(8,232)`		`-`
`Netassets`			`5,947,910`	`5,860,165`
`Funds`
`Unrestrictedfunds:`
`Designatedunrestricted`	`20`		`450,000`	`450,000`
`Generalunrestricted`	`20`		`4'958,648`	`4,776,857`
`GeneralunrestrictedBSOET`			`518,810`	`598,810`
			`5,927,458`	`5,825,667`
`Restrictedfunds:`
`Restricted`			`20,452`	`34,498`
`Totalfunds`			`5,947,910`	`5,860,165`

				`(AsRestated)`
		`Note`	`2025`	`2024`
			`£`	`£`
`Cashusedinoperatingactivities:` `Taxationreceived` `Netcashusedinoperatingactivities`		`{`	`(1,645,844)` `1,391,160` `(254,684)`	`(1,084,139)` `1,331,847` `247,708`
`Cashflowsfrom investingactivities:`
`Interestincome`			`60,304`	`31,139`
`Proceedsfromthesaleofplantandequipment`
`Purchaseofplantandequipment`			`(57,482)`	`(24,109)`
`Dividendreceivedoninvestments`	`-`
`Netcashprovidedbyinvestingactivities`			`2,822`	`7,030`
`Cashflowsfromfinancingactivities:`
`Capitalelementofleaserepaid`			`(2,744)`	`(4,544)`
`Increaseincashandcashequivalentsintheyear`			`(254,606)`	`250,194`
`Cashandcashequivalentsatthebeginningoftheyear`			`2,462,273`	`2,212,079`
`Cashandcashequivalentsattheendoftheyear`			`2,207,667`	`2,462,273`
`1.Reconciliationofnetincometonetcashflowfrom`
`operatingactivities`
`Notestothecashflowstatement`
				`(AsRestated)`
			`2025`	`2024`
			`£`	`£`
`Netincomefortheyear`			`87,745`	`807,786`
`Adjustmentsfor:`
`Depreciationcharges`			`56,252`	`62,190`
`Investmentmanagementcosts`			`16,750`	`116`
`(Gains)/lossesoninvestments`			`(10,038)`	`(170,083)`
`Interestincome`			`(118,545)`	`(82,252)`
`Taxreceipt`			`(1,620,273)`	`(1,395,419)`
`Decreaseinstocks`			`-`	`834`
`Decreaseindebtors`			`(116,292)`	`(357,392)`
`Decreaseincreditors`			`58,597`	`50,081`
`Netcashusedinoperatingactivities`			`(1,645,844)`	`(1,084,139)`
`2.Analysisofcashandcashequivalents`			`2025`	`2024`
			`£`	`£`
`Cashinhand`
`Totalcashandcashequivalents`			`2,207,667`	`2,462,273`

		`(AsRestated)`
	`2025`	`2024`
	`£`	`£`
`Donations`	`577,777`	`531,653`
`Legacies`	`506,449`	`779,706`
`Membershipsubscriptions`	`90,092`	`92,047`
`Donatedservicesandfacilities`	`20,869`	`21,841`
`Grants(T&F)`	`235,040`	`219,475`
`Total`	`1,430,227`	`1,644,722`

		`2025`	`2024`
		`£`	`£`
	`ArtsCouncilEngland— corefunding`	`2,601,798`	`2,601,798`
	`OtherGrants`	`271,348`	`318,720`
	`Total`	`2,873,146`	`2,920,518`
`3.`	`Incomefromcharitableactivities`
		`2025`	`2024`
		`£`	`£`
	`Orchestralconcertsandrelatedwork:`
	`Ticketsales`	`1,576,359`	`1,338,446`
	`Engagementfees`	`628,898`	`563,744`
	`Recordingfees`	`48,160`	`39,523`
	`Programmesales`	`19,937`	`19,237`
	`Otherincome`	`2,062`	`18,676`
	`Total`	`2,275,416`	`1,979,626`
	`Education:`
	`Communitymusic`	`77,852`	`333,216`
	`Children& YoungPersons`	`59,545`	`60,093`
	`Total`	`137,397`	`393,309`

				`2025`		`2024`
				`£`		`£`
`Saleofmerchandise`				`29`		`-`
`Sponsorship`				`141,173`		`134,071`
`Total`				`141,202`		`134,071`
`vestmentincome`
				`2025`		`2024`
				`£`		`£`
`Quilter`				`58,241`		`51,114`
`BankInterest`				`60,304`		`31,138`
`Total`				`118,545`		`82,252`
`stofraisingfunds`
	`Direct`	`Other`	`Governance`	`Other`
	`Staff`	`Direct`	`Support`	`Support`	`Total`	`Total`
	`Costs`	`Costs`	`costs`	`costs`	`2025`	`2024`
	`£`	`£`	`£`	`£`	`£`	`£`
`Costsofraisingfunds`	`348,580`	`56,223`	`1,121`	`51,994`	`457,918`	`338,729`
`Investmentmanagementcosts`	`-`	`16,681`	`-`		`16,681`	`116`
`Total`	`348,580`	`72,904`	`1,121`	`51,994`	`474,599`	`338,845`

		`Other`	`Governance`	`Other`
	`DirectStaff`	`Direct`	`Support`	`Support`	`Total`	`Total`
	`Costs`	`Costs`	`costs`	`costs`	`2025`	`2024`
	`£`	`£`	`£`	`£`	`£`	`£`
`Orchestralandrelatedwork`	`4289,220`	`2,207,412`	`18.123`	`840,867`	`7,405,622`	`6,781,957`
`Education`	`382,421`	`181,823`	`1,562`	`72,472`	`638,278`	`791,412`
`Total`	`4,671,641`	`2,439,235`	`19,685`	`913,339`	`8,043,900`	`7,573,369`
`nalysisofgovernanceand`	`supportcosts`
			`Direct`
			`Staff`		`Total`	`Total`
			`Costs`	`Overheads`	`2025`	`2024`
			`£`	`£`	`£`	`£`
`Governancecosts`			`-`	`20,806`	`20,806`	`19,548`
`Finance,HRandIScosts`			`251,139`	`148,401`	`399,540`	`411,665`
`Managementcosts`			`193,680`	`17,055`	`210,735`	`215,026`
`Premisesandofficecosts`				`355,059`	`355,059`	`309,218`
`Total`			`444,819`	`541,321`	`986,140`	`955,457`

	`2025`	`2024`
`Netincomefortheyearisstatedaftercharging:`	`£`	`£`
`Depreciation`	`56,252`	`62,190`
`Auditor’sremuneration:`
`Auditfees`	`18,950`	`18,128`
`Non-auditfees`	`-`	`-`
`Operatingleaserentals:`
`Plantandmachinery`	`30,791`	`11,680`
`Otheroperatingleases`	`851`	`2,909`

	`2025`	`2024`
	`£`	`£`
`Salariesandwages`	`3,273,013`	`2,940,240`
`Socialsecuritycosts`	`342,724`	`304,017`
`Pensioncosts`	`290,299`	`265,087`
`Freelanceandothercosts`	`1,559,003`	`1,450,910`
`Total`	`5,465,039`	`4,960,254`
`Thenumberofstaffpaidover£60,000duringtheyearwas:`	`2025`	`2024`
	`No.`	`No.`
`£70,001` `-£80,000`	`2`	`{`
`£140,001` `-£150,000`	`\|`	`1`

	`2025`	`2024`
`:`	`No.`	`No.`
`Orchestra`	`52`	`48`
`Officeandmanagement`	`42`	`43`
`Total`	`94`	`91`

	`2025`	`2024`
	`£`	`£`
`ArtsCouncilEngland— corefunding`	`2,601,798`	`2,601,798`
`BCPCouncil`	`246,348`	`273,720`
`DorsetCouncil`	`-`	`20,000`
`PortsmouthCityCouncil`	`25,000`	`25,000`
`Total`	`2,873,146`	`2,920,518`
`axation`
	`2025`	`2024`
	`£`	`£`
`OrchestraTaxRelief`
`Taxcreditdue`	`1,641,551`	`1,412,438`
`Adjustmentinrespectofprioryears`	`-`	`44`
	`1,641,551`	`1,412,482`
`CorporationTax`
`Taxontaxableincomefortheyear`	`(21,278)`	`(17,063)`
`Adjustmentinrespectofprioryears`	`-`	`-`
	`(21,278)\|`	`(17,063)`
`Nettaxreceivablefortheyear`	`1,620,273`	`1,395,419`

	`Long`	`Fixtures,`
	`Leasehold`	`=computers&`	`Motor`
	`Buildings`	`equipment`	`Vehicles`	`Instruments`	`Total`
	`£`	`£`	`£`	`£`	`£`
`Costb/f1 April2024`	`300,000`	`582,971`	`9,754`	`330,526`	`1,223,251`
`Additionsintheyear`	`-`	`68,248`	`-`	`2,954`	`71,202`
`Disposalsintheyear`	`-`	`(74,714)`	`-`	`-`	`(74,714)`
`Costc/f31March2025`	`300,000`	`576,505`	`9,754`	`333,480`	`1,219,739`
`Dep'nb/f1 April2024`	`30,417`	`503,099`	`9,313`	`241,080`	`783,909`
`Chargefortheyear`	`5,000`	`44667`	`196`	`6,389`	`56,252`
`Eliminatedondisposal`	`-`	`(74,714)`	`-`	`-`	`(74,714)`
`Dep'nc/f31March2025`	`35,417`	`473,052`	`9,509`	`247469`	`765,447`
`NBV01/04/2024`	`269,583`	`79,872`	`441`	`89,446`	`439,342`
`NBV31/03/2025`	`264,583`	`103,453`	`245`	`86,014`	`454,292`

`Investments`
	`2025`	`2024`
	`£`	`£`
`Carryingvalue(marketvalue)atbeginningofyear`	`1,833,746`	`1,612,667`
`Additionstoinvestmentsatcost`	`-`	`26,263`
`Net(loss)/gainonrevaluation`	`51,533`	`194,816`
`Utilisationofcashaccount`
`Carryingvalue(marketvalue)atendofyear`	`1,885,279`	`1,833,746`
`Historicalcost`
`Cash`
`Managedfunds- Quilter`	`1,752,287`	`1,752,287`
`Total`	`1,752,287`	`1,752,287`
	`2025`	`2024`
`AnalysisofInvestments`	`£`	`£`
`Listedinvestments`	`1,791,005`	`1,797,316`
`Cash`	`94,274`	`36,430`
	`1,885,279`	`1,833,746`

		`(AsRestated)`
	`2025`	`2024`
	`£`	`£`
`Tradedebtors`	`122,643`	`241,186`
`Orchestrataxrelief` `Prepayments& advances`	`1,641,551` `629,146`	`1,412,438` `394,312`
`Total`	`2,393,340`	`2,047,936`
`reditors:amountsfallingduewithinoneyear`
	`2025`	`2024`
	`£`	`£`
`Tradecreditors`	`266,104`	`315,547`
`Taxation& socialsecurity`	`91,798`	`71,437`
`Accruals`	`239,135`	`143,942`
`Otherreceiptsinadvance`	`358,749`	`366,863`
`PensionContributions`	`25,902`	`25,343`
`Financelease`	`2,148`	`-`
	`984,436`	`923,132`

`5cust` `ome.`	`omercred`	`itbalances,membershipinadvanceanddefer`	`edsponsor`	`hipandtrusts`	`andfoundations`
				`2025`	`2024`
				`£`	`£`
`Balance`	`asat1`	`April`		`366,863`	`329,282`
`Amount`	`released`	`toincomeandexpenditureaccount`		`(366,863)`	`(329,282)`
`Amount`	`deferred`	`inyear`	`_`	`358,750`	`366,863`
				`358,750`	`366,863`

	`Restricted`	`Unrestricted`		`(AsRestated)`
	`Funds`	`Funds`	`Total`	`Total`
	`2025`	`2025`	`2025`	`2024`
	`£`	`£`	`£`	`£`
`Fixedassets`	`7,448`	`2,332,123`	`2,339,571`	`2,273,088`
`Currentassets` `Currentliabilities` `Total`	`13,004` `20,452`	`4,588,003` `(992,668)` `5,927,458`	`4,601,007` `(992,668)` `5,947,910`	`4'510,209` `(923,132)` `5,860,165`

							`Investment`	`“Transfer`
		`1April`	`Incoming`		`Outgoing`		`Gains/`	`Between`		`31March`
		`2024`	`Resources`		`Resources`		`(Losses)`	`Funds`		`2025`
		`£`	`£`		`£`		`£`	`£`		`£`
`RestrictedFunds`
`ConstantinoSilvestriWillTrust`		`7,448`	`230`		`(230)`		`-`		`-`	`7,448`
`JeffreyMachin`	`,`	`4348`		`-`	`(4,348)`		`-`		`-`		`-`
`PianoFund`		`22,702`		`-`	`(9,698)`		`-`			`13,004`
`Totalrestrictedfunds`		`34,498`	`230`		`(14,276)`					`20,452`
`Unrestrictedfunds`
`Designated:`
`NewLift`		`200,000`		`-`		`-`	`-`		`-`	`—200,000`
`NewTruck`		`250,000`		`-`		`-`	`-`		`-`	`250,000`
`Total`		`450,000`		`-`		`.`	`-`		`-`	`__450,000`
`Unrestricted:`
`Generalunrestricted`		`4,776,857`	`8,595,976`		`(8,504,223)`		`10,038`	`80,000`		`4,958,648`
`Generalunrestricted`	`BSOET`	`598,810`		`-`		`-`	`-`	`__(80,000)`		`518,810`
`Total`		`5,375,667`	`8,595,976`		`(8,504,223)`		`10,038`		`~`	`5,477,458`
`TotalUnrestricted`	`Funds`	`5,825,667`	`8,595,976`		`(8,504,223)`		`10,038`		`-`	`5,927,458`
`TotalFunds`		`5,860,165`	`8,596,206`		`(8,518,499)`		`10,038`		`~`	`5,947,910`

				`Investment`	`Transfer`		`(AsRestated)`
	`1April` `2023`	`Incoming` `Resources`	`Outgoing` `Resources`	`Gains/` `(Losses)`	`Between` `Funds`		`31March` `2024`
	`£`	`£`	`£`	`£`	`£`		`£`
`RestrictedFunds`
`ConstantinoSilvestriWillTrust` `JeffreyMachin` `PianoFund`	`7,448` `24,348` `31,341`	`208` `-` `-`	`(208)` `(20,000)` `(8,639)`	`-` `-` `-`		`-` `-` `-`	`7,448` `4,348` `22,102`
`Totalrestrictedfunds`	`63,137`	`208`	`(28,847)`				`34,498`
`Unrestrictedfunds`
`Designated:` `NewLift` `NewTruck` `Total`	`200,000` `250,000` `450,000`	`-` `-` `:`	`-` `-` `-`	`-` `-` `-`		`-` `-` `-`	`200,000` `250,000` `450,000`
`Unrestricted:`
`Generalunrestricted`	`3,940,432`	`8,549,709`	`(7,883,367)`	`170,083`		`-`	`4,776,857`
`GeneralunrestrictedBSOET` `Total`	`598,810` `4,539,242`	`8,549,709`	`(7,883,367)`	`170,083`		`:`	`598810` `5,375,667`
`TotalUnrestrictedFunds`	`4,989,242`	`8,549,709`	`(7,883,367)`	`170,083`		`-`	`5,825,667`
`TotalFunds`	`5,052,379`	`8,549,917`	`(7,912,214)`	`170,083`		`-`	`5,860,165`

`eratingleasecommitments` `minimumoperatingleasepaymentsareasfollows:`
	`2025`	`2024`
	`£`	`£`
`Withinoneyear`	`25,788`	`686`
`Betweenoneandfiveyears`	`27,233`	`686`
	`53,021`	`1,372`

	`1April2024`	`CashFlows`	`31March2025`
	`£`	`£`	`£`
`Cash& CashEquivalents`	`2,462,273`	`(254,606)`	`2,207,667`
`Borrowings`
`Financeleases`	`(10,942)`	`6,397`	`(4,545)`
`Netfunds`	`2,451,334`	`(248,209)`	`2,203,122`

					`(AsRestated)`
		`Unrestricted`		`Restricted`	`TotalFunds`
	`Note`	`Funds`		`Funds`	`2024`
		`£`		`£`	`£`
`Income& endowmentsfrom:`
`Donationsandlegacies`	`{`	`1,644,722`		`-`	`1,644,722`
`Grants`	`2`	`2,920,518`		`-`	`2,920,518`
`Incomefromcharitableactivities:`
`Orchestralconcertsandrelatedwork`	`3`	`1,979,418`		`208`	`1,979,626`
`Participate`	`3`	`393,309`		`-`	`393,309`
`Incomefromothertradingactivities`	`4`	`134,071`		`-`	`134,071`
`Investmentincome`	`5`	`82,252`		`-`	`82,252`
`Totalincome`		`7,154,290`		`208`	`7,154,498`
`Expenditureon:`
`Costsofraisingfunds:`
`Commercialtradingoperations`	`6`	`338,845`		`-`	`338,845`
`Expenditureoncharitableactivities:`
`Orchestralconcertsandrelatedwork`	`7`	`6,753,110`		`28,847`	`6,781,957`
`Education`	`7`	`791,412`		`-`	`791,412`
`Otherexpenditure:`
`Totalexpenditure`		`7,883,367`		`28,847`	`7,912,214`
`Net(expenditure)beforetax`		`(729,077)`		`(28,639)`	`(757,716)`
`Taxreceivable`		`1,395,419`		`-`	`1,395,419`
`Netincomeafter taxbeforeinvestment`
`gains/(losses)`		`666,342`		`(28,639)`	`637,703`
`Net(losses)/gainsoninvestments`		`170,083`		`-`	`170,083`
`Net(expenditure)/incomefortheyear`		`836,425`		`(28,639)`	`807,786`
`Transfersbetweenfunds`	`20`		`-`	`-`		`-`
`Netmovementinfunds`		`836,425`		`(28,639)`	`807,786`
`Reconciliationoffunds:`
`Totalfundsbroughtforward`		`4,989,242`		`63,137`	`5,052,379`
`Totalfundscarriedforward`		`5,825,667`		`34,498`	`5,860,165`