## **≥** CONCERTS SOCIETY
(A CHARITABLE COMPANY LIMITED BY GUARANTEE)
**Annual Report and Accounts for the year ended 31 March 2024** Company Number 62753 Charity Number 223882
TRUSTEES’ REPORT AND SUMMARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
|Reference and Administrative details|4|
|---|---|
|Chair’s Report|5|
|Chief Executive’s Review of the Year|6|
|2023/24 in Numbers|16|
|Summary Financial Information|18|
|Trustees’ Report|20|
|Independent Auditor’s Statement to the Members of Hallé Concerts Society|30|
|Consolidated and Aggregated Summary Income and Expenditure Account|32|
|Consolidated and Aggregated Statement of Financial Activities|33|
|Charitable Company Statement of Financial Activities|34|
|Consolidated and Aggregated and Charitable Company Balance Sheets|35|
|Consolidated and Aggregated Cash Flow Statement|36|
|Notes to the Accounts|37|
|Appendices - not forming part of the audited financial statements||
|Sponsors, Business Club and Workplace Choirs|60|
|Supporters|61|
|Members of the Hallé Concerts Society|64|
|Players|66|
|Orchestral Chair Endowments|67|
|Hallé Choir|68|
|Administration and contact details|69|
The Hallé Concerts Society gratefully acknowledges the financial assistance of Arts Council England, Manchester City Council and the Greater Manchester Combined Authority.
3
## REFERENCE AND ADMINISTRATIVE DETAILS
Registered Office: The Bridgewater Hall, Manchester M1 5HA
PATRON HRH The Duchess of Edinburgh gcvo
MUSIC DIRECTOR Sir Mark Elder ch, cbe
MEMBERS OF THE BOARD
Elected Debbie Francis obe Chair # Sharon Amesu # Alex Connock Darren Drabble # Tim Edge * Juergen Maier cbe Linda Merrick cbe John Phillips cbe * Merryl Webster #* Aileen Wiswell mbe #
Nominated by Manchester City Council Cllr Azra Ali
Nominated by the Greater Manchester Combined Authority Eamonn Boylan (until retirement from GMCA in May 2024) Cllr Janet Emsley
## EXECUTIVE TEAM
David Butcher Chief Executive and Company Secretary Ruth Harkin Finance Director $ - resigned June 2024 Natalie Atkinson $ - appointed June 2024
ORCHESTRAL NOMINEE Tom Osborne
AUDITOR Crowe U.K. LLP 3rd Floor The Lexicon Mount Street Manchester M2 5NT
SOLICITORS CMS LLP 1 The Avenue, Spinningfields Manchester M3 3AP
BANKERS Santander UK Plc 298 Deansgate, Manchester M3 4HH
Royal Bank of Scotland Plc St. Ann Street Manchester M60 2SS
INVESTMENT ADVISERS Cazenove Capital Part of: Liverpool House Schroder & Co Ltd Lower Bridge Street 2 Moorgate Chester CH1 1RS London EC2R 6DA
In March 2022 CCLA Investment Management was appointed as Investment Managers to replace Cazenove Capital. The transfer of assets took place in spring 2023 after this year of account
CCLA Investment Management Ltd One Angel Lane London EC4R 3AB
COMPANY REGISTRATION NO 62753
CHARITY REGISTRATION NO 223882
VICE PRESIDENTS Martin McMillan Edward Pysden $
* Member of the Audit Committee
# Member of the Nominations & Remuneration Committee $ Member of the Investment Committee
4
CHAIR’S REPORT
This financial year has been another year of growth and development for the Hallé, with performances attracting international acclaim, a 23% increase in audiences and a vast programme of educational activity across Greater Manchester.
Underpinning this success has been the role of our visionary Music Director, Sir Mark Elder, who is standing down after nearly 25 years at the Hallé. One cannot overstate the contribution Mark has made over these years, overseeing a period of sustained development and the Hallé’s re-emergence as “one of the world’s best orchestras” (The Times). On behalf of the Board I would like to thank him for his artistic leadership and unique championing of our education and ensembles programme, now one of the largest in Europe. The packed houses, not only in Manchester but around the country, are testament to the affection and esteem in which he is held by the public. We are delighted that this celebrated partnership continues through his appointment as our Conductor Emeritus, the first time in our long history that this title has been bestowed. We now eagerly await the arrival of Kahchun Wong, our new Principal Conductor and Artistic Advisor, who in previous visits to Manchester has made such an impression on audiences. We are lucky to have secured one of the future stars of the conducting firmament and look forward to welcoming him to Manchester in September as a new chapter begins for the Hallé.
Authority and Manchester City Council, whose ongoing support is critical to our existence. We are fortunate indeed to have a Mayor and a Leader who really get the value of culture in the city region. The generosity of these organisations and, of course, many sponsors, trusts and individuals, is central in enabling us to develop a vast programme of award-winning work across Greater Manchester and internationally.
Finally, I would like to pay tribute to my fellow Board members whose skills and commitment are so hugely important in supporting this great organisation, alongside our skilled and hugely committed management team. It has been a pleasure to work with them, as well as hearing our extraordinary musicians during this pivotal time in the Hallé’s history.
Debbie Francis obe Chair July 2024
Financially, I am pleased to report a strong performance where our balance sheet position is relatively healthy. This has been helped by the UK government’s decision to increase Orchestra Tax Relief permanently to 45%, a decision which has also assisted many orchestras of all sizes across the country. We are extremely grateful for continued funding from Arts Council England, the Greater Manchester Combined
5
CHIEF EXECUTIVE’S REVIEW OF THE YEAR
## INTRODUCTION
As our Chair Debbie Francis points out, whilst this has been an award-wining and bumper year full of thrilling artistic, educational and strategic projects, it is marked by Sir Mark Elder’s final season of concerts as Music Director. The laudatory response from critics and audiences has been immense and abundant. This praise has focused not only on the stellar music making of the season’s performances and recordings, but also on his contribution over 25 years and his permanent legacy.
_‘His tenure in Manchester, like that of his forbear John Barbirolli, has embodied values that are increasingly unfashionable in the orchestral world today: dedication to a place, stewardship of an institution, commitment to a repertoire, evolution of a sound, cultivation of a style. This Elgar [Symphonies 1 and 2] is in a sense the worthiest of farewells, a tribute not only to those 25 years, but also to what conducting can mean.’ New York Times_ . May 2024
_‘At the weekend, Sir Mark Elder handed over his baton as the conductor of the Hallé orchestra in Manchester. It was a truly stunning concert, and Sir Mark asked us to “treasure this great orchestra” and to “shout their quality from the rooftops”. So I am doing just that via the (Manchester) Guardian. Thank you for the music, Sir Mark.’ Guardian Letters_ . May 2024.
_Mahler’s fifth symphony was a perfect choice for Elder to display the rich talent that exists in every section of the orchestra ... strings sleek, brass trenchant, woodwind agile.’_ The Guardian
6
## CHIEF EXECUTIVE’S REVIEW OF THE YEAR
Whilst Mark is standing down as Music Director, he now becomes Conductor Emeritus, directing two major projects in Manchester and elsewhere each season, alongside our new Principal Conductor, Kahchun Wong. For me, it has been one of the happiest and most fruitful artistic partnerships over my four years as Chief Executive of the Hallé. I know I speak for everyone involved here in thanking Mark for his inspirational leadership and not little graft in taking the Hallé to its current heights. We look forward to many future projects in his new role with the orchestra.
## CONCERTS, RECORDINGS, BROADCASTS
Alongside Sir Mark’s final concerts, the season has also been invigorated with the launch of three new concert series, a brand new partnership with one of the leading composers of our time, Thomas Adès, the release of two discs on the Hallé label and a selection of brand new works by prominent composers, including Sir James MacMillan, Huw Watkins and Sir Stephen Hough.
In all, the season delivered over 112 concerts in Manchester, including our ever-popular Chamber and Relaxed concert series at Hallé St Peter’s and capacity schools’ concerts at The Bridgewater Hall. The orchestra performed a further 49 concerts across the UK, including farewell concerts for Sir Mark in Bristol, Basingstoke, Saffron Hall, Warwick Arts Centre, Nottingham, Sheffield, Bath, Aldeburgh, Edinburgh and London. In addition to UK activity, the orchestra embarked on a fourconcert tour of Spain in early 2024 with incoming Principal Conductor and Artistic Advisor, Kahchun Wong, who also joined the orchestra and choir to launch the 2024-25 season in a concert performance of Faure’s Requiem, paired with Malcolm Arnold’s Peterloo Overture.
Attracting new audiences to The Bridgewater Hall was the primary goal for the introduction of three new concert series, each carefully constructed to engage audiences. A new hour-long Rush Hour series starting at 6pm proved hugely popular for those wanting to experience live music during the early evening. Illuminating family concerts have nurtured the next generation of concert attenders and finally Hallé Presents, a contemporary music series, was launched to explore music
_‘[Kahchun Wong] will no doubt set Manchester alight when he succeeds Sir Mark Elder at the Hallé. Indeed, he will turn heads and move hearts wherever he goes.’_ The Arts Desk
7
## CHIEF EXECUTIVE’S REVIEW OF THE YEAR
that breaks boundaries, showcasing the versatility of the modern symphony orchestra. All three initiatives proved successful, with Hallé Presents receiving the most critical attention, including a sell-out Steve Reich Festival and collaborations with Jonny Greenwood of Radiohead and the legendary DJ / producer, Jeff Mills.
During the year we welcomed Thomas Adès as the Hallé’s Artist in Residence for the 2024-26 seasons, with the orchestra performing and recording his music, as well as commissioning and premiering new compositions. Without doubt one of the leading composers of our time, this burgeoning relationship resonated far and wide with ambitious programmes and 5-star reviews from _The Guardian_ and the _Times_ .
_‘A stupendous evening. Concerts like this one renew one’s faith in the ability of British orchestras to flourish, startle and exhilarate even in these problematic times.’ The Times_
Also receiving a clutch of 5-star reviews was the Hallé’s collaboration with Opera Rara in a concert performance of Verdi’s Simon Boccanegra in its original 1857 version. The concert featured the chorus of Opera North, a sensational cast and students from RNCM, in just one of a number of partnerships between orchestra and conservatoire. This concert was the culmination of a recording project and the recording is expected to be released in the 24/25 season.
The Hallé label also featured two releases, with the first focusing on the music of Dobrinka Tabakova, Artist in Residence from 2022-23, conducted by former Assistant Conductor, Delyana Lazarova; and the second Elgar Symphonies 1 and 2 conducted by Sir Mark Elder. Both releases have garnered much praise, the former being shortlisted for a BBC Music Magazine award.
Across the season there were return visits for soloists including Benjamin Grosvenor, Masabane Cecilia Rangwanasha, Jess Gillam, Sir Stephen Hough and Carolin Widmann, and debuts for conductors including Chloe van Soeterstede, Anja Bihlmaier and Alondra de la
_‘It was INCREDIBLE! The orchestra were just amazing! Whilst it initially just appealed because of the collab with Jeff, we will certainly be coming to the Hallé again!’_ Audience member on The Hallé Presents ... Jeff Mills
8
## CHIEF EXECUTIVE’S REVIEW OF THE YEAR
Parra. The season also saw Euan Shields take up the baton as Assistant Conductor, performing with both the Hallé and Hallé Youth Orchestra in Manchester and further afield.
Particular mention goes to Stephen Bell, the Hallé’s Associate Conductor, who led many memorable and packed Pops concerts ranging from film music evenings, musicals and tributes to classical crowd pleasers. Again, the Pops series has broadened its offer and continues to redefine what a modern orchestra can do.
Concluding the 2023-24 season, the Hallé featured in three prominent festivals; Aldeburgh, Edinburgh and the BBC Proms, with three carefully curated programmes centred around Mahler’s Symphony No 5. This was
chosen by Sir Mark for its full use of the orchestra and its triumphant tones, which he believes showcase the virtuoso qualities of the Hallé – ‘their fighting spirit, joie de vivre, determination and commitment to their music making’. The Proms performance was televised live and featured the full Hallé family of choirs in a performance of Sir James MacMillan’s Timotheus, Bacchus and Cecilia, which received 5-star reviews at its World Premiere performances in Manchester.
Finally, the Hallé was awarded a Royal Philharmonic Society award (Best Event) for Manchester Classical, a collaboration spearheaded by the Hallé. The festival celebrated the breadth, diversity and world-class quality of Manchester’s classical music scene, attracted new audiences and celebrated the unique spirit of collaboration across Manchester.
_‘…and the finale built its tension, through moments of great beauty from the woodwind, to the splendours of the brassy conclusion…this was strong indeed.’_
Robert Beale, The Arts Desk
9
CHIEF EXECUTIVE’S REVIEW OF THE YEAR
## HALLÉ CONNECT
Hallé Connect brings together all the Hallé’s work away from the formal concert platform, working across the whole community, from schools to care homes, nurturing young talent and bringing music in its broadest terms to those who may choose not to attend the concert hall. During the year Hallé musicians worked in various settings across Greater Manchester and beyond, releasing creativity and raising aspirations through very accessible and practical projects.
Following the retirement of Steve Pickett, Education Director, in July 2023, the Education and Ensembles departments were merged into a new and strengthened Hallé Connect department. Work continued with the overarching aim of bringing music to people wherever they happen to be – through projects in schools, care homes, hospitals and other community settings, through the nurturing of talent and by enabling opportunities for music to be a regular feature in people’s lives. The new department is already achieving a more holistic approach to our Connect work, with the ultimate aim of bringing more people of all ages into a deeper, more meaningful and longer-term engagement with the Hallé.
## HALLÉ CONNECT: EDUCATION
During the year our Education programme primarily focused on delivery across Greater Manchester and included the following project work:
**Adopt-a-Player** programme, involving a high school and three feeder primary schools, including a concert visit and working creatively around the repertoire with Hallé musicians. This took place in Bolton and Oldham.
**Hallé for Youth** multi-arts project for schools, inspired by the annual Hallé for Youth concert programme and involving four primary classes from Wigan and Bury. This was delivered in partnership with the Museum of Science and Industry and the Northern Ballet School.
**Hallé Inspire** , a curriculum-based composition and performance project which enhances class curriculum themes in four primary schools in deprived areas of Salford, Manchester, Tameside and Trafford.
**HALLÉ4BRASS** , using brass instrument learning as a focus for concentration, commitment and discipline to support excluded children at the Arbour Academy in Salford.
_‘The presenter was amazing and the music was fantastic! It was a hugely positive experience, which all our children (and staff) enjoyed.’_
Feedback for Hallé for Youth
10
CHIEF EXECUTIVE’S REVIEW OF THE YEAR
**SEND** programme including our long-standing residency at the Seashell Trust in Stockport and new relationships with Siemens Enthuse schools across Greater Manchester.
Our concerts for schools now cover every Key Stage through school life and it is a privilege to welcome over 32,000 children each year to the following concerts:
**Key Stage 1** concerts exploring the theme of animals.
**Come and Play with the Hallé** inspired by all things ‘Out of this World’ for Key Stage 2 children to play, sing and dance along with the Hallé. This concert was aimed at inspiring children learning instruments through the national Whole Class Instrumental Teaching Programme. The programme also played in Bradford, Nottingham, Derby, Stoke-onTrent and Sheffield.
**Hallé for Youth** for Key Stages 2 and 3 based on the international theme of ‘Cities of the World’. This programme also played in Sheffield.
**Set Works concert** for GCSE and A-level students, based on the theme of the Orchestra through the Ages.
Coach transport costs are still a real issue for all schools looking to undertake concert visits and nationally this is sadly preventing children from experiencing wonderful opportunities.
Additional in-school projects took place across the North West and beyond, with ‘Meet a Musician’ being our most popular and introductory-level project for schools.
In Stoke, a new 5-year partnership with the Character and Arts Foundation, led by the City Learning Trust, was launched in July 2023 with special concerts for schools in the Victoria Hall in Hanley. From September work in schools has covered every key stage, with a particular interest in early years and Key Stage 1 projects, ‘Storytime’ and ‘Hallé Magic’. Business Studies students have been involved through the ‘Impresarios’ project, which covers behind-the-scenes aspects of arts administration, such as artistic planning and budgeting.
The RNCM/Hallé Advanced Orchestral String Programme nurtured six post-graduate students during 2023-24. The students combined extensive professional playing experience, including mentoring from Hallé Principals, with tuition and chamber group work at the RNCM. Alongside this, our Professional Experience Scheme for undergraduate RNCM wind and brass players enabled 55 students to participate in workshops with Hallé players, with 13 progressing to playing professionally in the orchestra.
Our community programme continued to expand, bringing music to people in an appropriate and accessible way whatever their circumstances. Our relaxed concert days are joyous and to witness the incredible impact of live music on the audience members is a privilege. We are hoping to host even more relaxed concerts next year and took the relaxed concert orchestra into the Seashell Trust in July 2024.
During the year, work in local hospitals and care homes has continued to expand. The flagship project continues at Pendine Care Homes in Wrexham in North Wales and workshops have also taken place in care
11
## CHIEF EXECUTIVE’S REVIEW OF THE YEAR
homes across Greater Manchester, at Woodlands Hospital in Salford, at Wythenshawe Hospital in Manchester in partnership with Lime Arts, with the Afro-Caribbean Care Group in Manchester and with a group of disabled adults connected to L’Arche (an international charity supporting disabled people). This work brings relaxation, enjoyment, a sense of well-being and respite also for carers. The relationship with Carers Manchester continued with free concert tickets providing a moment of respite for carers and a planned expansion of this offer in 2024-5.
The return of Hallé Klezmer dance evenings in partnership with the Klezmorim of Manchester and Manchester University has brought an inclusive and participatory dance element, while Strictly Hallé dances introduced the art of ballroom and Latin dances.
## HALLÉ CONNECT: ENSEMBLES
The Hallé’s family of choirs and ensembles welcomed 700 people, aged 8 upwards, to sing and perform weekly with inspirational leaders. It has had an amazing year with many performance highlights and the first foreign youth summer tours for several years.
The Children’s Choir brought a new commission, ‘A Northern Song’, inspired and based on the works of Victoria Wood, to open the Manchester Classical weekend. The choir also stole the show at the Christmas Carol concerts and at the Youth Ensembles’ Celebration in March.
The Youth Training Choir had a fun weekend at the Kingswood Adventure Centre in Doncaster, returning to delight friends and family with a performance in The Bridgewater Hall Barbirolli Room as part of the Manchester Classical weekend.
The Youth Choir toured to Belgium, performing in Bruges and Ghent. The choir also enjoyed a workshop with Gesualdo Six, exploring early music styles, and performed beautiful a cappella motets as part of the Hallé’s Bruckner focus in February.
The Youth Orchestra toured the Rhineland region of Germany, performing in Koblenz, Bad Ems and Mendig. These concerts were the final concerts with Delyana Lazarova as HYO Music Director. Euan Shields took up the role in September 2023 and has brought his own energy and flair to the Youth Orchestra’s work this season.
The Hallé Choir valiantly performed all three of Elgar’s Oratorios over two weekends in June 2023. These performances were particularly memorable. The choir then joined the orchestra just weeks later for Rachmaninov’s The Bells as part of the BBC Proms at the Royal Albert Hall. Other highlights of the year included Rossini’s Stabat Mater and Brahms’ Requiem.
Our open access choirs – the Ancoats Community Choir and Choral Academy – remain joyous, accessible moments of music-making each week in Hallé St Peter’s. The Ancoats Community Choir performed as part of Manchester Classical and in various locations around the city through the year including Manchester Art Gallery and the Central Library. The Choral Academy structure has been changed to make
_‘... the Hallé Youth Choir ... an astonishingly good bit of unaccompanied singing which stayed dead in tune and reached its own ecstatic heights in just a five-minute span’_ The Arts Desk
12
CHIEF EXECUTIVE’S REVIEW OF THE YEAR
_‘It was brilliantly done by the Hallé players with Currie conducting… Vivid pixel stripes morphed into rich patterns, saturated with colour and texture. The music mirrored its transformations – the effect was mesmerising.’_ The Times
termly projects more accessible and linked to classic pieces in the choral repertoire, including Handel’s Messiah and Poulenc’s Gloria.
The Oasis Unity Choir in Gorton continues to welcome and support a diverse mixture of vulnerable adults and a translator assists sessions to ensure the local refugee communities can feel thoroughly welcome.
A special project with Durham Youth Orchestra was delivered in partnership with Orchestras Live and a new creation entitled Reflections on Five – inspired and written by the young musicians with support from Hallé players – was performed as part of the Hallé concert in Darlington Hippodrome in February.
and audiences. The Carol concerts alone achieved over £152k in ticket income.
During the year we have seen some fantastic growth in new bookers, with over 9.5k first-time bookers across this period. This can largely be attributed to the new programming described above, enabling us to market to new audiences through a more diverse range of channels, in particular the Hallé Presents and Rush Hour series and the Steve Reich Festival. As an example, 93% of the Jeff Mills bookers were new to file, with 6.5% of these booking again for something else in the 23/24 or 24/25 seasons. The Jonny Greenwood concert attracted 57% new bookers, with 5% of these bookers already returning for another event. This is a great position for us to build on, with the year having a key focus on retaining and re-engaging new bookers.
## COMMUNICATIONS AND DIGITAL
Sales in the 2023-24 financial year were strong, increasing by £227.5k (18.5%), and on average each concert made £2,309 more than in the previous financial year. For concerts at The Bridgewater Hall total audiences were up by impressive 23% on last year and Christmas continues to build on its success and grow in both income
Manchester Classical was a big undertaking, creating a brand from scratch, building a new website, marketing with limited time and budget and working collaboratively with other organisations to reach audiences. However, the overall campaign worked successfully and reached a significant audience (almost 5.5k), as well as nominations and awards that helped to raise the brand profile of the organisation.
13
CHIEF EXECUTIVE’S REVIEW OF THE YEAR
In digital activity, we achieved our first one million views on a single video on Instagram, achieving both quality and quantity in our output, with this period seeing the team post the highest volume of video content achieved to date. The team has also worked to capture and deliver high quality photography for every concert, including Manchester Classical and the Steve Reich Festival. This has enabled us to respond quickly to press requests, creating a positive impact on those relationships and supporting the very strong press coverage we have had across the period for both concerts and recordings.
We also saw significant growth in our social media followers and engagement across all channels, with Instagram the greatest increase at 269%. TikTok is still growing and we are trialling trends and working on diversifying our audiences through engaging with this platform. High quality and strategic content has also seen us achieve the most substantial increase in followers to date from organic (non-paid) content.
The Communications and Digital team members all stepped up brilliantly to deliver this activity despite reduced staffing whilst the Director of Communications & Digital role was vacant (from Nov 2023). They led the department through its busiest period and kept all tactical and operational activity running successfully, so to achieve such impressive growth and results is particularly noteworthy.
## HALLÉ VENUES
The Hallé’s own venues, Hallé St Peter’s and Hallé at St Michael’s, continue to be central to the success of all our artistic, educational and community projects, providing vital facilities, resources and opportunities for the whole of the Hallé’s ambitions.
Hallé St Peter’s, as the centre for the Hallé’s rehearsal and recording activities, provides space to deliver more of our plans for community engagement programmes, which are ever more inclusive and diverse in their reach. The venues are now fundamental to the operations of the Hallé’s Ensembles as home to weekly rehearsals for the Hallé Youth Orchestra and all six Hallé choral groups, as well as centres for auditions and summer courses.
The venues are at the centre of the musical world in Manchester, hosting rehearsals for BBC Philharmonic, Manchester Camerata, Manchester Collective, Northern Film Orchestra, The European Doctor’s Orchestra and others including community choirs like Manchester Proud Chorus and The Sunday Boys . Both venues are used for performances by external promoters including Fever by Candlelight, Hey Manchester, DHP Family, Grey Lantern, The Beauty Witch and English Folk Expo/ Manchester Folk Festival, and the ABRSM continues to use Hallé St Peter’s as its Manchester examinations centre.
14
## CHIEF EXECUTIVE’S REVIEW OF THE YEAR
In addition to music the venues hosted a wide variety of other commercial and community bookings. These included community consultation forums for Manchester City Council, wine tastings with Boutinot, receptions and dinners for the German Embassy (Hallé St Peter’s hosted the first German National Day Celebrations held by the Embassy outside of London), Minerva Fabrics celebrating 30 years of trading, Brother, CIIBSE and the Manchester Society of Architects. The venues also hosted training and conference events for Renekar, the General Medical Council and Factory International among others, together with numerous wedding and private clients’ events.
The venues’ impact on the Ancoats community has developed over this period with many local community groups and businesses making use of the spaces. Our public-facing commercial space in the building, run by catering partners, Café Cotton, continued to be a popular destination in spite of challenging trading conditions in the hospitality industry resulting from the cost of living crisis.
## DEVELOPMENT
We continue to work with some of the most inventive and visionary sponsors, patrons and foundations to deliver our ambitious fundraising targets in a way that promotes long term shared objectives and solutions to a challenging funding landscape for cultural organisations. We remain indebted to our most loyal supporters. Once again we have been supported by one Diamond Sponsor: Siemens, which confirmed a continuing commitment to the Siemens Hallé International Conductors Competition in March 2024, and four Major Sponsors: Brother, CMS, PZ Cussons and Edwardian Hotels. We have welcomed more support this year from our regular education sponsors and the Oglesby Charitable Trust has committed to five years of support for our Youth Orchestra and Professional Experience scheme. We received a large grant from the Foyle Foundation and are sorry that this trust has announced its intention to close in 2025. It has been a steady supporter of the Hallé since the first phase of the Hallé St Peter’s campaign in 2010.
Our Patrons’ base continues to grow and we have welcomed many new supporters, inspired by the contribution Sir Mark has made to the history of the organisation during his 25-year tenure. We are also drawing in new supporters eager to engage with Kahchun Wong.
In December 2023 our Development Director, Kath Russell, and I were proud to represent the Hallé as the main cultural representative in the GMCA Trade Mission to Japan. We are building plans to continue to contribute to similar international initiatives that support the growth and profile of Manchester on the worldwide stage.
In 2023 we worked with the Barbirolli Society to ensure its continuation by taking over the reins and incorporating the society into the Hallé’s Patrons’ scheme. We have inherited a unique set of photographs and personal items as part of this process, further adding to the richness of our archive.
For our work with the National Lottery Heritage Fund on the Hallé Archive, we have been invited to submit a follow- on proposal to secure the long-term future of the archive and ensure greater public access to what is undoubtedly one of the most important music archives in the world.
## PERSONNEL AND BOARD
During the year the orchestra said farewell to Sue Baker (Tutti Viola), Philippa Heys (Principal Second Violin), Nick Trygstad (Section Leader Cello), Jo Boddington (Piccolo) and Ken Browne (Principal Trumpet). We welcomed Dylan Edge (Tutti First Violin) and Heather MacLeod (Tutti Second Violin). We also concluded the recruitment process for the remaining leader position in the orchestra and we are delighted this was accepted by Emily Davis. Emily’s official contract with the orchestra will begin in October 2024. Alongside Roberto Ruisi, we have
without doubt two of the finest orchestra leaders in Europe.
Two key members of our Senior Management Team retired after long and dedicated years at the Hallé. It is no exaggeration to say that Steve Pickett’s 22 years at the Hallé have reinvented our education work which has touched and transformed the lives of thousands of people. Andy Ryans, our Communications Director, oversaw 27 seasons of concerts, developing audiences, the Hallé brand and digital expansion of the orchestra. All of us at the Hallé thank them and wish them well.
I am delighted that Naomi Benn, formerly our Head of Ensembles, has taken over as Head of Hallé Connect (merging ensembles and education), with Clare Webster appointed to the new position of Education and Outreach Manager. We also welcomed Bonnie Turnbull, formerly of the Royal Liverpool Philharmonic and HOME, who takes over as Director of Communications and Digital.
Finally, as I write, Ruth Harkin, our Finance Director of the past 7 years – who is retiring – is preparing these final audited accounts. (Another clean audit). Her financial and wider strategic stewardship of the Hallé’s finances has been exemplary over this time, including navigating the turmoil of Covid with such detail and care. The importance of Ruth’s time here cannot be overestimated and she leaves the Hallé in a much stronger financial position than when she joined. I know I speak for us all, not least the Board, in thanking her for her important contribution over this time. The bar is high but we are fortunate to have found a worthy successor in Natalie Atkinson, who joined us in June 2024.
More widely, I would like to acknowledge the extraordinary skill and inspiration of the Hallé musicians and management team: world-class in every sense, curating and producing performances and projects of exceptional quality and range and, crucially, inspiring and building audiences and the next generation of musicians.
David Butcher Chief Executive July 2024
15
## **≥** THE YEAR IN NUMBERS
## ORCHESTRA AND MANAGEMENT
**76** salaried musicians, with a 50/50% male/ female split comprising 75% British and 25% from 11 different countries from around the world
**44** administrative staff, with 27/73% male/ female split
## PERFORMANCE AND AUDIENCE
**100,000 +** concert-goers heard the Hallé. Audiences grew by **23%** compared to last year
**9,680** first time attenders (a growth of 36% on the previous year)
**112** performances in Manchester plus a further 49 across the UK and a tour to Spain
## DIGITAL
**4.41m+** people streamed from the Hallé own-label (a 70% increase on the previous year)
**4.2m+** unique views of Hallé video content including UK, US, Europe, Canada, Australia, Japan and India.
**6** radio and TV broadcasts
**1m+** heard the Hallé via TV and radio
**29%** increase in social media subscribers across all platforms
_‘First ever @the_halle concert tonight, and first visit to The Bridgewater Hall for Steve Reich’s Desert Music. Mesmerising.’_
Audience member on X
_‘Just a really nice event with a lovely atmosphere, will definitely come again’_
Audience feedback for Rush Hour
16
## HALLÉ CONNECT: EDUCATION
**22,000+** young people from Greater Manchester played with the Hallé
**8000+** attended Hallé for Youth concerts
**1000+** adults and young people attended relaxed concerts for people with dementia, disability and special educational needs
_‘The HYO have grown, concert after concert, under Euan’s thoughtful direction. I’m sure next season will seem them go even further.’_ Youth Orchesta parent
## HALLÉ CONNECT: ENSEMBLES
**400+** adult singers sang weekly across our adult choirs, contributing hugely to improved health and wellbeing
**300+** children and young people from across GM and beyond made music weekly for free with our inspirational musicians across our four youth ensembles
**100+** employees sang in our workplace choirs to improve their health and wellbeing in the workplace.
**200+** boys were supported through outreach sessions
**20+** specific singing sessions supported vulnerable adults to join in, feel welcomed, and have a break from the pressures of life and leave feeling valued and uplifted
**250+** children were involved in the Hallé Inspire programme
**55** undergraduate wind and brass players from the RNCM were supported by Hallé musicians and 13 played with the orchestra
**25+** specific singing sessions supported vulnerable adults to join in, feel welcomed, and have a break from the pressures of life and leave feeling valued and uplifted
**6** advanced string players from the RNCM were mentored by Hallé musicians and played with the orchestra throughout the year
**75,000+** people made music with the Hallé, of which over 55,000 were children and young people
17
## THREE YEAR FINANCIAL SUMMARY
The table below summarises the operating results of the Hallé group for the last 3 financial years.
|Year ended 31 March
**Income from normal charitable operations**
**excluding exceptional items**
Box office
Engagements, touring & broadcasting
Education & Hallé St Peter’s
Fundraising, Sponsorship & other income
Investment income
Revenue grants
Orchestra Tax Credit
TOTAL
**Operating costs**
Orchestra, related staff and other costs
Conductors, soloists and freelance
Hall hire & box office charges
Other performance related costs including touring
Marketing & Communications
Education & Hallé St Peter’s
Fundraising
Other
TOTAL
**Net operating (deficit)/surplus**
Transfer from Endowment
**(Deficit)/surplus**
**Total (deficit)/surplus for the year**
Total funds
Unrestricted before pension liability
Pension liability
Total unrestricted
Restricted
Endowment Funds
**TOTAL FUNDS**|2024
£000
1,483
1,280
790
1,051
125
3,208
2,713|2023
2022
%
£000
%
£000
%
14%
1,253
13%
1,049
11%
12%
1,091
11%
468
5%
7%
640
7%
272
3%
10%
1,181
12%
1,500
16%
1%
196
2%
104
1%
30%
3,207
34%
4,575
50%
26%
2,014
21%
1,291
14%|
|---|---|---|
||10,650|100%
9,582
100%
9,259
100%|
||4,844
803
911
1,822
606
1,245
352
517|44%
4,650
46%
4,166
48%
7%
781
8%
569
6%
8%
778
8%
647
7%
16%
1,592
16%
1,429
17%
6%
633
6%
570
6%
11%
1,013
10%
771
9%
3%
318
3%
324
4%
5%
367
3%
307
3%|
||11,100|100%
10,132
100%
8,873
100%|
||||
||**(450)**|**(550)**
**476**|
||272|220
234|
||**(178)**|**(330)**
**710**|
||**(178)**|**(330)**
**710**|
||||
|||2024
2023
2022
£000
£000
£000
1,977
1,621
1,476
(8,040)
(8,709)
(8,687)|
|||(6,063)
(7,088)
(7,211)
10,092
10,920
11,648
7,805
7,160
7,624|
|||**11,834**
**10,992**
**12,061**|
18
SUMMARY FINANCIAL INFORMATION
WHERE THE FUNDING CAME FROM
## 2023/24
Box Office - 14%
Engagements, touring and broadcasting - 12%
Education and Hallé St Peter's - 7%
Fundraising, sponsorship and other income - 10%
Investment income - 1% Revenue grants - 30% Orchestra Tax Credit - 26%
WHERE THE FUNDS WERE SPENT
## 2023/24
Orchestra, related staff and other costs - 44% Conductors, soloists and freelance - 7%
Hall hire and box office charges - 8%
Other performance related costs including touring - 16%
Marketing and Communications - 6%
Education and Hallé St Peter's - 11%
Fundraising - 3%
Other - 5%
19
## TRUSTEES’ REPORT
The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their annual report and the audited financial statements for the year ended 31 March 2024, in compliance with current statutory requirements, the governing documents and Charities SORP (FRS 102): Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland.
## REFERENCE AND ADMINISTRATIVE DETAILS
Details of the registered office, Trustees, principal officers and other relevant information are given on page 3.
The Hallé Concerts Society (“the Society”) is a company limited by guarantee, governed by its Articles of Association as amended and adopted by the Annual General Meeting in September 2022. It is registered as a charity with the Charity Commission.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
The Society’s Board of Trustees is responsible for its affairs and the Chief Executive reports to the Board on behalf of the Management and Staff. The Board consists of a maximum of 13 members appointed as follows:
## **Elected:**
Nominated by ten members of the Society, unless recommended by the Board
**Nominated** :
Nominated by Manchester City Council (1) and GMCA (2), appointed by the Board
The Board meets approximately 7 times a year to review strategy and operational performance and to set operating plans and budgets. Day to day management is delegated to the Chief Executive.
The Board has three standing committees with specific areas of responsibility and which make recommendations to the Board:
Audit Committee – responsible for overseeing the Society’s financial reporting, external audit and reviewing the Society’s internal control and risk management systems;
Nominations & Remuneration Committee – responsible for reviewing the structure, size and composition of the Board and the Trustee bodies of the Society’s related trusts, having regard to the balance and mix of skills required, and making recommendations to the Board about any adjustments deemed necessary. This Committee is also responsible for setting the procedure for recruitment of Board members and other senior appointments, for recommending appointments to the Board and setting the framework for remuneration of senior appointments; and
Investment Committee – responsible for overseeing the investment portfolio of the Society and its related entities.
Other ad hoc committees may also be formed to oversee special projects and their terms of operation are agreed in advance by the Board.
The members of the three standing committees are:
## **Audit Committee**
Tim Edge (Chair) * John Phillips * William Smith (co-optee) Merryl Webster *
## **Nominations and Remuneration Committee**
Darren Drabble * (Chair) Debbie Francis *
Merryl Webster * Aileen Wiswell *
## **Investment Committee**
John Schultz (Chair) $ John Eckersley $ David McKeith $ Edward Pysden $ Tim Seagrave^ Elizabeth Shepherd $ Ruth Harkin (resigned June 24) Natalie Atkinson (from June 24)
* Member of Hallé Board
$ Trustee of Hallé Endowment Trust
^ nominated by Manchester City Council
Full terms of reference for the standing committees and short CVs of Board members are available on the Hallé website, **www.hallé.co.uk** .
## TRUSTEES
All Trustees have an equal vote and have the statutory duties and obligations of Trustees.
All Trustees who are members of the Society are guarantors of the Society with a maximum liability of £5.
At each Annual General Meeting the Trustees who have reached the end of their term of office will retire and, if eligible, may stand for reelection. In accordance with the Articles of Association the following Trustees are due to retire in 2024 and will need to be re-elected (subject to their willingness to continue):
Alex Connock, Tim Edge and Merryl Webster. Alex Connock and Tim Edge have confirmed they will not be standing for re-election.
Eamonn Boylan (following his retirement from GMCA) and Alastair Nuttall are standing for appointment.
The Company Secretary ensures that appropriate induction and training is given to all Board members; for example, updates on new charity regulations are provided at Trustee meetings. Each new Trustee is provided with a pack of information about the Hallé and their responsibilities as Trustees and is given an opportunity for personal meetings with the Chair and senior management of the Society.
## STRUCTURE OF THE GROUP
The Hallé Concerts Society includes the Hallé Concerts Society Sickness and Benevolent Fund, which is a charity linked by a Charity Commission Uniting Direction. The Sickness and Benevolent Fund results are included as a restricted fund within the Society’s financial statements.
The Hallé Concerts Society Group (the Group) consists of the Hallé Concerts Society, its subsidiary Hallé Promotions Limited and two related trusts: the Hallé Endowment Trust and the Charles Hallé Foundation on the basis that they are subsidiaries of the Society.
The Society also has a connected charity, the Terence Judd Trust Fund, which was set up in memory of the pianist, Terence Judd, by his family, who still have an active interest in its activities. This connected charity is not consolidated or aggregated, in accordance with Statement of Recommended Practice (SORP) FRS 102.
## RISK MANAGEMENT AND INTERNAL CONTROL
The Trustees are responsible for ensuring that an effective system of internal financial control is maintained and operated by the Society.
20
## TRUSTEES’ REPORT
The system can provide only reasonable, and not absolute, assurance that assets are safeguarded, transactions authorised and properly recorded, and that material errors or irregularities are either prevented or detected within a timely period.
The system of internal financial control is based on a framework of regular management information; administrative procedures, including the segregation of duties; and a system of delegation and accountability.
- An extensive and award-winning education and outreach programme in Greater Manchester and beyond which engages over 75,000 people each year, (55,000 children and young people), across the whole community, from schools to universities, care homes to prisons, bringing music and creative experiences to those who may not attend the concert hall;
- Supporting the Hallé’s family of choirs welcoming, weekly, over 700 people aged 8 upwards to sing and perform with inspirational choral leaders, plus the Hallé Youth Orchestra.
In particular, it includes:
- A comprehensive budgeting system, with a strategic plan and an annual budget, which is reviewed and agreed by the Trustees;
- Regular reviews by the Trustees of periodic and annual financial reports, which indicate financial performance against approved budget and forecast;
- Clearly defined capital expenditure control guidelines;
- A review by the Audit Committee of the comments made by the external auditors in their management letter and other reports; and
- Procedures for monitoring progress against the strategic plan.
As part of the monitoring process, the Trustees have implemented a risk management strategy, which comprises:
- Regular review by management and an annual review by the Board of the risks which the Society may face and actions taken to mitigate identified risks (last review completed in July 2024);
- The establishment of systems and procedures to mitigate those risks identified; and
- The implementation of procedures designed to minimise any potential impact on the charity should any of those risks materialise.
## OBJECTIVES AND ACTIVITIES OF THE SOCIETY
The object of the Society, as stated in its Articles, is to promote the study, practice and knowledge of the art of music in the United Kingdom and elsewhere by the giving and arrangement of concerts, and other such means as is thought fit including, without limitation, performances of the Hallé Orchestra at The Bridgewater Hall, Manchester for the benefit of the public generally.
The Hallé’s mission is to be the exemplar of a progressive and relevant musical institution in contemporary society, with a programme of work on and off the stage illuminating a pioneering zeal which is celebrated internationally and treasured locally by its family of diverse communities. This is delivered through a wide range of activities including:
- Promoting concerts by the orchestra and by other artists and ensembles in Manchester as the principal resident orchestra at The Bridgewater Hall, performing a wide range of music for diverse audiences including concerts and events for schools and family concerts;
## PUBLIC BENEFIT
In shaping the objectives for the year and planning the Society’s activities, the Trustees considered the Charity Commission’s guidance on public benefit, including the guidance on fee charging. The Society relies on grants, donations, sponsorship, engagement fees and income from sale of tickets to cover its operating costs. Its work is also informed by the aims of its principal public funders including the Arts Council England (ACE) 2020-2030 “Let’s Create” strategy and the associated investment principles and framework. We work hard to ensure our activities reflect and further the social and cultural priorities of the Greater Manchester Combined Authority (GMCA) and Manchester City Council in ensuring the widest number of people in the region have the opportunity to experience the Hallé’s work. In setting the level of ticket prices and concessions, the Trustees give careful consideration to the accessibility of the Hallé to those on low incomes and with special needs. A special scheme for students provides them with access to heavily discounted tickets.
Schemes are in place to encourage attendance from those who would not ordinarily have access to concerts. The Hallé offers free tickets and programmes, as well as advice and support to many diverse groups including those targeted through the GMCA network.
Charges for education and outreach work aim to ensure those activities are accessible to the widest possible constituencies, whatever their means, and activity is targeted at schools and communities where there are limited opportunities for cultural involvement and where there may be multiple barriers to participation. Membership of the youth and children’s ensembles is free and, with the generous aid of our supporters, bursaries are available to help less well-off members. Membership of our adult ensembles is subject to voluntary donation (Hallé Choir) or a fee (Choral Academy, Community Choir), and where fees are charged, there is always a stated option for those on low incomes to attend and to contribute only what they can afford.
The extent of our outreach work, under our branded umbrella, HALLÉ CONNECT, is described in more detail in the Chief Executive’s Review of the Year and on the Hallé website. The website also makes video and audio content available, free of charge, to users across the world.
Events in Hallé St Peter’s and Hallé at St Michael’s are planned to encourage active participation from the local community and the charging structure for events offers heavily discounted rates for community groups.
- Performing concerts throughout the United Kingdom including residencies in Nottingham and Sheffield, appearances at major arts festivals such as the BBC Proms, Edinburgh International Festival and Aldeburgh Festival, together with regular engagements in Leeds, Blackburn, York, Hanley, Lincoln and elsewhere;
- Concert performances overseas acting as a cultural ambassador for the Greater Manchester region;
- The production of highly acclaimed recordings issued on the Hallé’s own label;
- Regular broadcasts and films for radio, television, the internet and other digital media;
21
TRUSTEES’ REPORT
## STRATEGIC REPORT
## **Achievements, performance and financial review**
The Group’s accounts have been prepared in accordance with Charities SORP (FRS 102).
The Statements of Financial Activities for the Group and the Society are set out on pages 32 and 33 and the consolidated and aggregated summary income and expenditure of the Group is given on page 31. A full review of the Society’s activities and achievements is set out in the Chair’s Statement and the Chief Executive’s Review of the Year, which have been approved by the Trustees.
reserves are essential both to support planned core activity over the next 5 years and to provide a buffer through difficult and uncertain times. Challenges over the next few years will include wider cost of living pressures including continuing high levels of inflation. These more recent challenges exacerbate the ongoing pressures of uncertainty over future public sector grants and the contributions required to meet the Pension Scheme deficit. As a result, despite the welcome extension of higher rate Orchestra Tax Relief, there remain many potential risks to the Hallé’s financial security and these reserves play a critical role in our financial resilience and ability to plan constructively for the future.
## **Review of 2023/24 financial results**
## **Overview of 2023/24 financial position**
The Income and Expenditure Account on page 31 shows that the Group generated a net deficit for the year of £178k (2023: deficit £330k). The Consolidated Statement of Financial Activities (SOFA) on page 32 is a more comprehensive presentation of the Group’s financial results, as it brings in the Endowment Fund and shows income and expenditure split between unrestricted and restricted categories. This statement also includes the actuarial loss on the defined benefit pension scheme and investment losses to give a full reconciliation of the movement in funds from 1 April 2023 to 31 March 2024.
We are pleased to report in the Statement of Financial Activities for 2023/24 an overall increase in funds of £842k for the Group and £333k for the Company. This increase in funds includes an actuarial gain of £336k in respect of the Defined Benefit Pension Scheme and the Group position includes £789k of unrealised gain on investments held mainly by the Hallé Endowment Trust. Both of these factors are described in more detail later in the report. It should however be noted that neither of these movements is crystallised, they reflect wider economic conditions and are managed over the longer rather than short term.
The position before investment and actuarial losses for the Group is a net deficit for the year of £283k. The deficit position is not a matter for concern as it is due to depreciation of £370k largely funded by specific restricted reserves, created from generous capital donations in previous years for particular capital schemes such as Hallé St Peter’s. Therefore a deficit within restricted funds is reasonable and results from planned expenditure against restricted reserves built from successful fundraising in previous years. Unrestricted funds, where the majority of our operational income and expenditure is recorded, have produced a surplus of £127k of income over expenditure and Endowment funds a surplus of £168k, before investment gain taken into account.
The surplus on unrestricted funds has only been possible due to the increased rate of Orchestra Tax Relief which orchestras have been able to claim since October 2021. We greatly appreciate therefore the government’s decision (announced in the Spring 2024 Budget) to permanently extend Orchestra Tax Relief at the higher rate of 45%.
Of the £11,834k in Funds at 31 March 2024 the majority of the funds are held in restricted reserves and permanent endowment funds, reduced by the liability on the defined benefit pension scheme:
Restricted reserves of £10,092k include over £6,000k in respect of the capital funding received for Hallé St Peter’s, which is used to cover the depreciation charges on the building as it is written off over its life.
Endowment Trust balances of £7,805k - only the income and investment gains are available to support expenditure because the capital is a permanent endowment.
Defined benefit pension liability – the deficit has reduced by £669k in the year, from £8,709k at 31 March 2023 to £8,040k at 31 March 2024.
Within the overall fund balances of £11,834k, expendable reserves are £4,561k (31 March 2023 £4,458k) and are explained in more detail in the Reserves section below. Expendable reserves have increased due to the surplus on unrestricted funds in this financial year. These expendable
## **Income**
A full analysis of income is provided in notes 5, 6 and 7 to the Accounts. Total income in 2023/24 amounted to £10.9m (2022/23 £9.7m).
The financial year 2023/24 has seen a welcome increase in income from concerts and education work of 20% compared to last year. This reflects continued recovery and growth in Bridgewater Hall audiences following the difficult years impacted by the pandemic, although this income is still not fully at the previous level. Despite the environment continuing to be challenging due to general cost of living and economic pressures, 2023/24 also saw a full schedule of schools concerts and engagements around the UK, as well as a successful tour to Spain which generated a positive financial contribution as well as artistic recognition.
Income from charitable activities also includes the income generated from our venues in Ancoats – Hallé St Peters and Hallé St Michaels. We are pleased to report increased external hire and catering income from these venues, in addition to the valuable cost savings generated from having our own rehearsal space.
Donations and legacy income includes £3.2m revenue grants from Arts Council England (ACE), Greater Manchester Combined Authority (GMCA) and Manchester City Council (MCC). This represents 30% of our income, providing essential security for funding and planning our activities. We are grateful for this continued support and pleased that this income has been approved by ACE and GMCA for the period 2023-26.
Other donations and legacy income has largely maintained its position in 2023/24 in spite of a difficult fundraising environment for individual fundraising and trusts/foundations, arising from wider economic problems. The apparent reduction in Group donations compared to last year is due to a large restricted grant from Garfield Weston to support digital development at the Hallé, released in 2022/23 when the equipment was purchased.
Corporate sponsorship income is reported under “Activities for Generating Funds”. Once again, despite a challenging environment for business during 2023/24, our key sponsorship relationships continue to flourish and provide essential support. The reduction compared to 2022/23 arises from the biennial nature of the Siemens Hallé International Conductor competition which was held in 2022/23, with additional support from Siemens in addition to their generous annual sponsorship.
Investment income for the Group is £344k, an increase of £54k compared to the previous year. This should be viewed together with the unrealised gain on investments of £789k, as the investments are managed on a total return basis. More detail on investment performance is provided in the investment section of this report. A grant of £312k from the Endowment Funds was approved by the Endowment Trustees for 2023/24 (2022/23: £300k) and this is reflected in the transfers between funds in the SOFA. The grants from the Endowment Fund are an essential source of reliable income for the Society.
Orchestra Tax Relief (OTR) now forms a major element of our income
22
## TRUSTEES’ REPORT
base, helping to address the pressures caused by real terms reductions in revenue grants. Both 2023/24 and 2022/23 have benefitted from the temporary doubling of the claim percentage to 50%. The reason for the increase of £700k compared to last year is partly due to high inflation and partly due to under accrual of the claim in 2022/23. The year- end provision is necessarily based on an estimate with the actual claim not being fully calculated until later in the following accounting year and changes in orchestra activity following the pandemic increased the difficulty in calculating the estimate. The estimated claim for 2023/24 is £2,390k and demonstrates the importance of this income stream. As noted above we are therefore very supportive of the decision to extend OTR at the rate of 45%.
and financial risks facing the Society and will have adequate resources to continue in operation for at least 12 months from the signing date of these consolidated financial statements. They therefore consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.
## **Subsidiaries**
The Society’s wholly owned subsidiary, Hallé Promotions Limited, did not trade during the year.
## **Hallé Concerts Society Sickness and Benevolent Fund**
## **Expenditure**
A full analysis of expenditure is given in note 9. Total resources expended amounted to £11.2m (2022/23: £10.2m), an increase of £1.0m on last year.
The majority of the increase in expenditure relates to increased costs of concerts and education activities: 2023/24; £10.3m (2022/23 £9.5m), an increase of 8%. The bulk of the costs within this heading, approximately £5m, are staff salaries. All costs have been impacted by inflation, particularly staffing costs, with a pay award of 5% during the year and concert costs at The Bridgewater Hall which increase each year with a contract linked to RPI. Costs in 2023/24 also reflect the increase in concert activity compared to 2022/23 including concerts to mark Sir Mark Elder’s final season with the Hallé. The impact of high fuel costs also led to increased costs for running our Hallé St Peter’s and Hallé St Michael’s venues.
Fundraising costs of £344k (2022/23: £305k) mainly comprise staffing costs of the team.
The increase in Investment Management costs reflect higher fees from the new investment manager as agreed by the Investment Committee and higher investment values (fees are charged as a percentage).
The other main expenditure heading is pension costs of £517k (2022/23: £367k) associated with the defined benefit scheme: these comprise net interest of £392k on the liability and £125k administrative costs of the scheme. These costs are as calculated in accordance with financial reporting standards by a professional actuary. The approach is different from that used for the formal actuarial valuations required by the Pensions Regulator which form the basis of the recovery plan agreed periodically with the Pension Scheme Trustees and under which the Hallé paid £725k into the pension scheme to reduce the deficit in 2023/24 plus £125k administration costs.
The Hallé Concerts Society Sickness and Benevolent Fund, which is a charity linked by a Charity Commission Uniting Direction, holds investments, which, at the discretion of the Society, may be applied to assist employees of the Society who are in temporary distress through poverty or sickness.
The Sickness and Benevolent Fund is treated as a restricted fund of the Hallé Concerts Society for the purposes of the Company and Consolidated Statement of Financial Activities and is overseen by the Board of the Society. The income from this fund has traditionally been used to meet the costs of physiotherapy treatment and similar expenses. In 2018/19 the Board agreed that the cost of the premium for the health insurance for orchestra players fitted within the objectives of the Fund and that the Fund would plan to cover this cost in the future (although this will be regularly reviewed in respect of affordability and longer-term planning for the Fund). The cost charged to the Fund in 2023/24 is £54k (2022/23: £58k) in addition to physiotherapy and similar benefits of £8k (2022/23: £8k).
## **Charles Hallé Foundation**
The Charles Hallé Foundation holds funds raised from public donation, legacies and fundraising events. These funds are applied, at the discretion of the Foundation Trustees, to fund projects by the Society which would not otherwise be funded from core grant income. In 2023/24 the Charles Hallé Foundation received £260k in donations and legacies (2022/23: £348k) and raised £6k (2022/23: £9k) net income through fundraising events. Funds of £360k (2022/23: £258k) were transferred to the Society to support educational and other projects. Total funds at 5 April 2024 were £15k (2023: £110k).
## **Hallé Endowment Trust**
## **Going concern assessment**
The Trustees have adopted the going concern basis in preparing these accounts after assessing the forecast reserves position together with the principal risks and a range of scenarios which would place pressure on the forecast reserves, including the wider political and economic environment.
The Trustees have considered the going concern position through modelling of a prudent Base forecast which was then stress-tested for a number of potential downside factors. The forecast goes through to March 2026; this shows positive expendable reserves in excess of the target of £3 million with both the Base and more pessimistic forecasts.
The Trustees also considered liquidity and the review of cash forecasts shows adequate cash reserves over the period.
The Trustees have also based their going concern assessment on the potential for management actions to mitigate any worsening scenario.
The Hallé Endowment Trust holds long-term investments, the income from which is available to the Society, at the discretion of the Endowment Trustees, to further the education of the general public in the study, appreciation and practice of music and the allied arts through supporting the activities of the Society. The Endowment Trust comprises two funds – the Main Endowment and the Catalyst Endowment, which was established following an Arts Council England initiative which provided endowment match funding to donations received by the Hallé.
From 2017 the Trustees have adopted the total return approach to investment for the Main Fund under the powers granted in Section 4 of the Trusts (Capital and Income) Act 2013. The Catalyst Fund initially remained under permanent endowment rules as it is an Arts Council based fund and subject to different arrangements from the Main Fund. A proposal to the Arts Council for the Catalyst Fund to be managed on a total return accounting basis was agreed in a Declaration of Trust signed 1 January 2023 and the Trustees implemented this approach for the Catalyst Fund for this financial year ending 31 December 2023.
Taking the above factors into account, the Trustees have a reasonable expectation that the Charity will be able to manage the operational
23
TRUSTEES’ REPORT
The power of total return permits the Trustees to invest permanently endowed funds to maximise total return and to apply an appropriate portion of the unapplied total return to income each year. The Trustees’ decision was taken in order to enable increased flexibility in the financial support provided by the Endowment to the Hallé Concerts Society.
The Hallé Endowment Trust has a year-end of 31 December; however, for the purposes of consolidation into the Group accounts, the results for the 12 months to 31 March 2024 are consolidated into the 31 March 2024 Group financial statements.
The results of the Endowment Trust included in the consolidated results are as follows: during the 12 months to 31 March 2024 the Hallé Endowment Trust received donations and legacies of £29k and generated investment income of £217k (comparator figures from 2023 Group accounts for 12 months: £59k donations and legacies and £207k investment income). The investment gain consolidated into the group accounts is £749k (2023: loss of £362k). A grant of £312k was awarded to the Society in 2024 (2023: £300k). Total funds held by the Hallé Endowment Trust at 31 March 2024 were £7,763k (2023: £7,158k). More information regarding the investment performance is provided in the Investment Policy section below.
## **Hallé 2058 Foundation**
The Hallé 2058 Foundation is treated as a restricted fund for the purposes of the Statement of Financial Activities and is overseen by the Board of the Society. The fund includes monies raised by the Hallé Appeal and supplements the core funding of the Society by striving to support the following: the Society’s artistic and educational programmes and initiatives such as the Hallé’s youth and outreach activities including, inter alia, the Hallé Youth Orchestra, Hallé Youth and Children’s Choirs and the Hallé Assistant Conductor programmes together with any new initiatives and developments in this area. Net income in 2023/24 was £38k (2022/23: £43k), increasing the fund balance to £1,124k.
## **Significant changes in fixed assets**
Significant changes in fixed assets are detailed in note 12 of the financial statements. Fixed assets are held either for direct charitable purposes or to provide additional revenue for charitable purposes through event and catering income, as with the multi-use spaces at Hallé St Peter’s. Now that the Hallé St Peter’s capital project is complete there have been no major movements in fixed assets other than the annual depreciation charge (£372k) which is largely funded from the restricted funds set up with the donations to acquire these assets.
## **Investment policy**
The Investment sub-committee reviews the investment strategy and performance of the Society and its related entities.
During 2022/23 the discretionary management of the Group’s investment portfolios moved from Cazenove Investment Managers (a subsidiary of Schroders) to CCLA Investment Management Limited with the transfer of assets being completed in April 2023.
The investments are held in CCLA’s COIF Charities Ethical Investment Fund. Separate Investment Portfolios are held for the Main Endowment
Fund and the Catalyst Endowment Funds (comprising the Hallé Endowment Fund), the Sickness & Benevolent Fund and the Terence Judd Trust.
The majority of investments are held by the Hallé Endowment Trust within the Main Endowment Fund and the Catalyst Endowment Fund. A total return approach is adopted for the investment strategy, such that the investment objective focus is on maximising the overall investment return (gains and income) rather than maximising investment income.
The following investment policies and strategy have been adopted by the Trustees of the individual trusts:
The investment objective is to maintain the real value of capital whilst generating a sustainable and reliable income.
The aim is to maximise the total investment return and a balanced attitude to risk is accepted by the Trustees in order to achieve this.
The target of the investment strategy is to maximise total return, with a target of CPI +4% per annum over the long term, by definition without distinguishing between capital return and income return.
There are currently no restrictions on the Trustees’ power to invest and the Trustees have not adopted an ethical investment policy, in order that their flexibility to invest is not restricted; however, the Trustees wish to follow a proactive ESG stance as a matter of investment policy, believing that ESG related risks, including climate change risks, are an important component of investment risk and that organisations that soundly manage these risks are more likely to be financially sustainable over time. The trustees require the Investment Manager to integrate analysis of relevant ESG issues into their investment processes. The Trustees will monitor how the Investment Manager takes ESG issues into account in practice on a regular basis.
Taking the above factors into account CCLA have selected the COIF Charities Ethical Investment Fund as suitable for the investment policies of the individual Hallé associated Trusts and will keep this suitability under regular review.
The COIF Charities Ethical Investment Fund is a multi-asset, long-term fund with a diversified and balanced spread of investments including equities, bonds, property and cash. It excludes investments where >10% of revenue is from activities including oil and gas extraction, armaments, tobacco, alcohol and gambling.
## **Investment performance**
The investment performance for the year to 31 March 2024 has shown a full recovery of the losses experienced in 2022/23, reflecting wider investment markets in the same period.
When investment income, investment manager fees and investment gain are taken into account the overall investment return in the year to 31 March 2024 was 13.1% compared to a negative -1.2% in 2022/23. The target return of CPI+4% was 7.4% for the same period and the portfolio performance in 2023/24 therefore exceeded this target, It should be noted, however, that the target return of CPI+4% is an average target over the longer term and in the previous year’s performance was well below target.
The Investment Committee also monitor performance compared to a comparator benchmark and the ARC Steady Growth Charity index representing a peer group benchmark.
24
TRUSTEES’ REPORT
## **Annualised Performance - information provided by CCLA**
## **As at 31 March 2024 (%)**
COIF Charities Ethical Investment Fund (net of fees) ARC Steady Growth Charity Index (Peer group) Comparator Benchmark (75% MSCI World Index*/25% other) CPI +4%
|**1**|**year**|**3**|**years**|**5**|**years**|**10**|**years**|
|---|---|---|---|---|---|---|---|
||13.1||7.3||8.9||9.2|
||9.7||3.8||5.0||5.4|
||16.7||7.8||7.5||7.7|
||7.4||11.5||9.3||7.8|
*MSCI global is a stock index designed to track broad global equity-market performance
Although the Hallé investments have only been held in CCLA’s COIF Charities Ethical Investment Fund for the past year, the longer-term comparisons provided by CCLA are provided for context on the performance of the Fund. Over the longer term it can be seen that the COIF fund has performed well against target and benchmarks. In more recent time periods the CPI+4% target has not been achievable due to exceptionally high inflation rates. In the past year the performance has fallen behind the comparator benchmark due to under representation
in the “Magnificent 7” of tech investments for various stock specific reasons. In addition CCLA do not hold stocks in oil, gas or banks which are all areas which increased in value as a result of the Ukraine war and related supply issues.
The graph below illustrates the total returns for Hallé investment performance compared to benchmark and target over the last six years, since total return was adopted for the Main Endowment.
## **Investment Performance of Hallé Portfolios over 6 years**
Both funds are now invested in the COIF Charities Ethical Investment Fund and have grown ahead of the relevant sector benchmark (ARCACI) but did not achieve the CPI+4% target due to continuing high levels of inflation over this period. In earlier years, from December 2021 the Main Endowment Fund had exceeded the CPI+4% target as well as the sector benchmark. Over the same period the Catalyst Fund had fallen behind target because income-producing investments had not performed as well.
The priority for the Trustees remains the longer term performance of the investments to provide support for the Society in the future. The Trustees are confident that the investment policy provides a good basis to achieve the investment objective over the medium and longer term and to secure this outcome
## **Reserves**
In accordance with the Charities Statement of Recommended Practice (SORP) FRS 102 the Society has taken into account the risks facing the Charity in order to formulate an appropriate reserves policy.
The Trustees reviewed and approved the reserves policy in July 2024. The policy is stated below:-
In accordance with the Charities Statement of Recommended Practice (SORP) FRS 102 the Society has taken into account the risks facing the Charity in order to formulate an appropriate reserves policy. The major financial risks are perceived to be the general economic environment, inflationary pressures, reductions in public sector funding (a major risk before the pandemic) and the defined benefit pension liability.
25
TRUSTEES’ REPORT
The Society aims to maintain expendable reserves at a level which will enable the Society to provide for contingencies, withstand periods of poor trading conditions or, in extreme circumstances, to manage a fundamental restructure of the orchestra’s activities. On this basis the Trustees have set a target for expendable reserves of approximately £3,000k to represent 6 months of fixed costs. This reflects the significant level of fixed costs borne by the Society, particularly in respect of salaries (with a 70+ contract orchestra), our contractual commitment to The Bridgewater Hall and payments to reduce the defined benefit liability required under the recovery plan agreed with the pension trustees.
For the purposes of this policy the Trustees define expendable reserves to be the General Fund and those restricted reserves where the funds are given to support activities which fall within the Society’s core purpose. The level of expendable reserves at 31 March 2024 is £4,561k (31 March 2023 £4,458k). The Trustees consider their expendable reserves at 31 March 2024 to comprise the General funds of the Group £1,837k, plus the reserves of the Hallé 2058 Foundation of £1,124k, plus the Monument and Oglesby revenue reserves of £1,600k.
The Trustees consider the level of reserves to be in line with the target of £3,000k. The balance exceeds the target but this is prudent to allow extra headroom to manage the challenges and risks of the next financial year and beyond. The Monument and Oglesby reserves hold the balance (£1,600k) of the £2,500k raised in respect of the overall St Peter’s revenue fundraising target of £2,500k, to support activities in Hallé St Peter’s.
It is acknowledged that the expendable reserves include restricted reserves which have been given for specific purposes to support developmental activity and their disposition is overseen by the Board.
As reported in previous years, the recognition of the defined benefit scheme pension liability under FRS 102 clearly has a major impact on the reported unrestricted reserves of the Group and the Society. The liability at 31 March 2024 is calculated as £8,040k (2023: £8,709k). Although this is significant, the liability is not crystallised at this date and is updated annually to reflect market conditions and other actuarial assumptions.
## **Defined benefit pension liability**
The pension liability in the financial statements is calculated in line with financial reporting standards, whereas the formal actuarial valuation, normally carried out on a triennial basis, is the one recognised by The Pension Regulator. It is this latter valuation which forms the basis of the recovery plan and deficit payments to be made by the Society over future years. Further detail on the pension scheme liability is provided in note 22 of the financial statements. The liability is significant and presents a major risk for the Society. The Board of the Society works collaboratively with the separate board of Pension Scheme Trustees to meet Pension Regulator requirements and to balance pension obligations with the future financial security of the Hallé Concerts Society, recognising that the two priorities are closely linked.
The last complete triennial actuarial valuation was carried out as at 31 March 2022 and produced a liability of £9.1m. The Society agreed a recovery plan with the Pension Trustees to pay off the shortfall which requires the Society to make payments of £550k per annum from 1 April 2023 until December 2028 increasing at 2% per annum. In addition, the Society will make two additional lump sum payments of £175k each in January 2024 and January 2025 and bear the pension scheme administrative expenses directly. It is this plan which is reflected in these 2023/24 Annual Accounts.
## **Equity, Diversity, Inclusion and Belonging**
The Hallé is embedded in its city region and aims to embrace and reflect the diversity of Greater Manchester in all areas of its work and
workforce - musicians, staff, board, participants and audiences. Our aim is to be a truly inclusive and relevant organisation with a workforce, audience and participants as diverse as the communities we serve. We believe this is fundamental to the Hallé Concert Society’s future success and our ability to continue our positive contribution to culture and society in Greater Manchester and on the global stage.
An Equity, Diversity, Inclusion and Belonging (EDIB) Plan has been approved by the Board as part of this commitment to embrace and embed EDIB across all areas of our work, including programming, talent development, workforce, leadership and governance. It is monitored by an EDIB sub-group which reports to the Board, and internally at Senior Management Team and departmental team meetings. The plan will align with a new strategic plan for 2024-27 which includes recommendations from a Hallé commissioned audit on the orchestra’s EDIB from Charlotte Sweeney Associates.
We want our workforce to be more representative of all sections of society at all levels in the organisation, and reflect the ethnic mix and diversity of Greater Manchester. We believe that the range of perspectives and experience diversity brings is an asset to our organisation. Our ambition is to ensure that all employees and job applicants are given equal opportunity. We’re committed to providing equality and fairness to all in our employment and not provide less favourable treatment on the grounds of age, disability, gender identity, marriage and civil partnership, pregnancy and maternity, race, ethnic origin, colour, nationality, national origin, religion or belief, or sex and sexual orientation. But simply having a diverse workforce is not enough. We want to build an inclusive environment, where everyone can develop to their full potential.
We also want to create an inclusive, welcoming environment for visitors, artists and all those who work with the Hallé Concerts Society. We celebrate our differences, and recognise the importance of teams reflecting the communities they serve.
## **Environmental responsibility**
The operations of the Hallé Concerts Society have an effect on the local, regional and global environment. We are committed, as an organisation, to continually monitor and improve upon our environmental performance and support Greater Manchester’s Zero Carbon initiative. Environmental regulations, laws and codes of practice set the minimum standards of our environmental performance. Greater Manchester has set an ambitious net Zero Target of 2038, ahead of the UK target of 2050 (which is in line with the Paris Agreement).
The Hallé aim to work to best sustainable policy and practice wherever possible. We recognise that this is an area where there is always room for learning and improvement. Through training, networking and knowledge-sharing we intend to develop our work in this area and enable our staff to become sustainability champions, supporting and inspiring our communities, audiences, partners and stakeholders through action and engagement.
The Hallé works to minimise our environmental impacts from the buildings we own and operate, and to continually monitor and report on our activities in order to better understand and improve our performance. We are fortunate that the Hallé St Peter’s extension was designed and delivered to a high technical standard with considerable attention paid to energy efficiency and sustainability but accept that innovation in this area is constant and we have sought to make improvements wherever possible, including the installation of solar panels during the 2023-2024 financial year.
As a cultural leader, with a trusted voice and a broad reach to audiences we will seek to engage our audience by providing focus on environmental issues through our artistic planning and our education and outreach work, often through the work of Hallé Connect. We are a member of GMAST (the Greater Manchester Arts Sustainability Team) and actively support Greater Manchester’s Zero Carbon strategies. We
26
share GMAST’s belief that the growth of our sector can be advanced through innovative low-carbon initiatives and endeavours. It is our aim to place sustainability, wherever possible and appropriate, into the heart of our organisation, its operations and programming.
The Hallé’s Environmental Working Group has representatives from all department and exists with the intention of actively pursuing a reduction in the Hallé’s carbon impact. Departments monitor, measure and develop plans for reduction of carbon within our operational activities. The group, the majority of whom have received Carbon Literacy training, takes collective responsibility to develop greater engagement from the Hallé Senior and Operational Management Teams, members of the administration, Board, Orchestra and Ensembles and eventually members of the Society and Hallé audiences.
The immediate aims for the group are to seek to reduce the carbon footprint of our administrative activities and our venues. Longer term the group will consider how we can positively impact on the travel/ touring plans and behaviours of the Orchestra, Ensembles and our audiences. A long term aim of the group is to deliver the Hallé’s first Carbon Neutral concert as part of the Hallé work towards meeting Manchester’s Net Zero target of 2038.
## **Fundraising practices**
The majority of the Hallé’s fundraising is targeted at charitable trusts, companies and individuals who already have a relationship with the orchestra, such as regular audience members. There is very little fundraising from the wider general public. The Society’s fundraising strategy is overseen by its Trustees and all its fundraising activity is conducted in line with the Fundraising Regulator’s Code of Fundraising Practice. The implementation of our fundraising strategy is mainly delivered by an in-house fundraising team with support from a professional fundraiser on bids to charitable trusts and foundations. This person does not carry out fundraising with the general public.
The Hallé is pleased to confirm that it has received no complaints in relation to its fundraising activity over the course of the 2023/24 year.
## **Pay policy for senior staff**
The Trustees consider the key management personnel to comprise the Trustees and the Chief Executive. All Trustees give of their time freely and no Trustee received remuneration in the year. The Board is responsible for setting the salary of the Chief Executive and delegates the setting and annual review of the Chief Executive’s salary to the Nominations and Remuneration Committee. The Chief Executive’s salary is normally increased in line with other management and administration salaries within the Society.
## **Plans for future periods**
The Trustees’ key area of focus continues to be the long-term financial sustainability of the Society. This has always been a challenge and the Trustees will continue to work towards a balanced financial position and, with careful budget management, to rebuild and maintain a reasonable level of reserves that will allow the Hallé to plan for a sustainable future.
We will continue to work closely with our public sector partners including ACE, GMCA and Manchester City Council and with ASM Global who operate our main venue at The Bridgewater Hall. We will also continue to work closely with the Trustees of the defined benefit pension scheme, in the interests of pensioners and the Society, to manage the challenges posed by the scheme.
As described in detail in the going concern note on page 19 we have a reasonable expectation of continuing in business beyond the next 12 months
A new ambitious Strategic Plan for 2024-27 has been produced, with wide consultation, led by the CEO and Board, also embracing a Hallé commissioned GDEIB (Global Diversity, Equity and Inclusion Benchmark) review. Over the next three years we will build with increased focus and intention on this fresh, diverse, pioneering face for Manchester’s orchestra, alongside the great music of the classical canon. Through our Hallé Connect work we aim to deepen and expand the number of people we work with in the North West, embracing our venues as a catalyst for cultural change. This global programming, plurality and diversity will express our Mancunian and pioneering zeal as both a local and an international ambassador, championing music, growing its diverse audiences and an exemplar of the modern symphony orchestra.
Looking ahead to next season, we eagerly await the arrival of Kahchun Wong who joins us as our new Principal Conductor and Artistic Advisor, succeeding Sir Mark Elder, who becomes Conductor Emeritus. Musically next season could be considered one of the Hallé’s most diverse and ambitious yet, demonstrating a rich seam of music and artists which really has something for everyone. We revisit some of the greatest classics by Beethoven, Bruckner, Mahler, Stravinsky and Vaughan Williams in what we hope will be illuminating performances which feel newly minted. As an orchestra that commissioned and premiered many of these former works, we celebrate the very latest music from composers including Thomas Adés, Unsuk Chin, Kaija Saariaho and Huw Watkins. We welcome back great artists such as Masabane Cecilia Rangwanasha, Sir Stephen Hough, Delyana Lazarova, Pavel Kolesnikov, Roderick Williams and Marta Gardolinska, and there are debuts for Mariam Batsashvilli, Stephanie Childress, Elborg Hemsing and Cedric Tibergnian.
New initiatives from last season continue: the hugely popular hour-long Rush Hour concerts starting at 6pm and Hallé Presents…featuring unique collaborations which this year include Philip Glass, Angelique Kidjo, Honey Dijon and Nitin Sawnhey. Thomas Adès continues his acclaimed role as our Artist-in-Association and Associate Stephen Bell, Assistant conductor Ewan Shields and Leader Roberto Ruisi are central and featured throughout the season. Finally, Sir Mark Elder returns in his first year as Conductor Emeritus, to conduct Strauss’ momentous Alpine Symphony and the world premiere of Huw Watkins’ Concerto for Orchestra written especially for Mark and the Hallé musicians.
Our off platform work – Hallé Connect – which encompasses our celebrated ensembles and education programme, will continue to deepen roots across the North West and further afield. Looking ahead, we aim to continue to develop and expand our Hallé Connect programme of work and continue to improve people’s lives through music across the three pillars of education, community outreach and ensembles opportunities. Schools are where we can inspire the most musicians and audiences of the future, so we aim to add regular Early Years activities, and ensure our ongoing offer for schools across all key stages complements and contributes to School Improvement Plans and class learning objectives. We will target singing, specifically to encourage more boys to sing. We will continue to reach out and engage with a number of communities and cultural levelling-up spots across GM – notably Bolton, Bury, Oldham, Rochdale, Tameside and Wigan, as well as consolidating the expanding partnership in Stoke, and County Durham in partnership with Orchestras Live.
We aim to increase family and community music-making opportunities through workshops, relaxed concerts, family concerts, open access youth ensembles opportunities (including a non-auditioned children’s choir and youth orchestra outreach project), and community singing workshops for all ages. We aim to ensure music literacy or any additional needs are not an obstacle to engagement. We will develop bespoke programmes in response to community consultation and need to offer respite, enjoyment and a better quality of life, for example in hospitals, care homes, day centres and with specific communities. We also aim to develop an intermediate youth orchestra support offer through weekend / holiday courses that complement music service work and enable young people to experience nurturing ensembles that are not available elsewhere.
27
## TRUSTEES’ REPORT
We are fortunate to have our Hallé Venues – St Peter’s and the Oglesby Centre and St. Michael’s, alongside our home at Bridgewater Hall. As the operations at Hallé St Peter’s and Hallé at St Michael’s continue to grow and thrive, we have identified the need and will to strengthen our current team and have come to the conclusion that the Hallé Venues team will best be served by the addition of a dedicated professional with specific responsibilities for sales and events management.
## **Principal risks and uncertainties**
The Trustees consider the major risks facing the Society are:
- Financial vulnerability from the general economic environment including the impact on audiences;
- Continued pressure on public funding and uncertainty as to future government policy/funding for arts/culture;
- The threat of reduced income from box office, engagements, corporate sponsors and donors, and;
- Underfunding of the Hallé Concerts Society Retirement Benefit Scheme, which was closed to future benefit accrual in July 2006.
As explained earlier in this report, in order to mitigate the effects of these, there is a robust risk management framework in place, overseen by the Audit Committee and approved by the Board with ongoing monitoring of management actions and of changes in the Society’s risk profile.
28
STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES OF THE HALLÉ CONCERTS SOCIETY IN RESPECT OF THE TRUSTEES’ ANNUAL REPORT AND THE FINANCIAL STATEMENTS
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the group and company financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice) including FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company and of the group’s excess of income over expenditure for that period. In preparing each of the group and company financial statements, the Trustees are required to:
## **Disclosure of information to independent auditor**
The Trustees who held office at the date of approval of this Trustees’ report confirm that, so far as they are each aware, there is no relevant audit information of which the company’s auditor is unaware; and each Trustee has taken all the steps that they ought to have taken as a Trustee to make themselves aware of any relevant audit information and to establish that the company’s auditor is aware of that information.
## **Auditor**
In accordance with Section 485 of the Companies Act 2006, a resolution for the reappointment of Crowe U.K. LLP as auditor of the group and company will be proposed at the Annual General Meeting, together with a resolution empowering the Trustees to fix their remuneration.
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
By Order of the Board
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- assess the group’s and the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
- use the going concern basis of accounting unless they either intend to liquidate the group or the company or to cease operations, or have no realistic alternative but to do so.
Debbie Francis Chair and Trustee 26 July 2024
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that its financial statements comply with the Companies Acts. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the group and to prevent and detect fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
29
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF HALLÉ CONCERTS SOCIETY
## OPINION
We have audited the financial statements of Hallé Concerts Society (‘the charitable company’) and its subsidiaries (‘the group’) for the year ended 31 March 2024 which comprise the Consolidated and Aggregated Summary Income and Expenditure Account, Consolidated and Aggregated Statement of Financial Activities, the Charitable Company Statement of Financial Activities, the Consolidated and Aggregated and Charitable Company Balance Sheets, the Consolidated and Aggregated Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
## In our opinion the financial statements:
give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 March 2024 and of the group’s income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
## OTHER INFORMATION
The Trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion based on the work undertaken in the course of our audit
## BASIS FOR OPINION
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the trustee’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s or the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
- the information given in the Trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors’ report included within the Trustees’ report have been prepared in accordance with applicable legal requirements.
## MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the Trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate and proper accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit
30
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF HALLÉ CONCERTS SOCIETY
## RESPONSIBILITIES OF TRUSTEES
As explained more fully in the Trustees’ responsibilities statement set out on page 24, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## EXTENT TO WHICH THE AUDIT WAS CONSIDERED CAPABLE OF DETECTING IRREGULARITIES, INCLUDING FRAUD
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the
charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations were Employment legislation.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
## USE OF OUR REPORT
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Vicky Szulist Senior Statutory Auditor
For and on behalf of
Crowe U.K. LLP Statutory Auditor The Lexicon Mount Street Manchester M2 5NT
Date: 14 August 2024
**31**
CONSOLIDATED AND AGGREGATED SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024
|Gross income from charitable operations
Orchestra Tax Credit
Total income from continuing operations
Total expenditure for continuing operations
Deficit on ordinary activities for the year before transfers and asset disposals
Net expenditure after interest and charges, before transfers
Transfer from endowment funds
Net expenditure for the year
Dealt with by:
The Society
Subsidiary company and related trusts|Total
Total
Note
2024
2023
£’000
£’000
7,937
7,568
2,713
2,014|
|---|---|
||10,650
9,582
(11,100)
(10,132)|
||(450)
(550)|
||(450)
(550)
19
272
220|
||(178)
(330)|
||(43)
(450)
(135)
120|
||(178)
(330)|
Total income comprises £10,459k for unrestricted funds and £191k for restricted funds (2023: £9,085k and £497k respectively). A detailed analysis of income and expenditure is provided in the Statement of Financial Activities on page 33.
Income and expenditure totals are shown after eliminating intra-group transactions.
A detailed analysis of expenditure is provided in the Statement of Financial Activities and notes 8 and 9.
The Group had no recognised gains or losses other than the surplus in both the current and preceding years and the movements in other recognised gains and losses as shown in the Statement of Financial Activities.
In both the current and preceding years the surplus calculated on an historical cost basis is not materially different from the reported results as above.
The Summary Income and Expenditure Account is derived from the Statement of Financial Activities on page 33 which, together with the notes to the accounts on pages 37 to 59 provides full information on the movements during the year on all funds of the Group.
During the year, the Group has neither discontinued any of its operations nor acquired any new ones.
The notes on pages 37 to 59 form part of these financial statements.
32
## CONSOLIDATED AND AGGREGATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
|Note
Income and endowments from:
Donations and legacies
5
Income from charitable activities
Orchestral activity and education
6
Income from other trading activities
Activities for generating funds
7
Income from investments
Other incoming resources
Orchestra Tax Credit
**Total income and endowments**
Expenditure
Expenditure on raising funds:
Costs of activities for raising funds
8
Investment management expenses
Expenditure on charitable activities
Orchestral activity and education
9
Other expenditure
Retirement Benefit Scheme costs
22
**Total expenditure**
**Net (expenditure)/income and net movement in funds before**
**gains and losses on investments**
Net gain/(loss) on investments
13
**Net income/(expenditure) before transfers**
Transfers between funds
19
**Net incoming/(outgoing) resources before other recognised gains and losses**
Other recognised gains and losses
Actuarial gain/(loss) on defined benefit pension scheme
22
**Net movement in funds**
Reconciliation of funds
Total funds brought forward at 1 April
**Total funds carried forward at 31 March**
**18**|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
Total
Total
2024
2024
2024
2024
2023
£’000
£’000
£’000
£’000
£’000
3,859
179
29
4,067
4,156
3,553
-
-
3,553
2,984
221
-
-
221
291
113
12
219
344
290
2,713
-
-
2,713
2,014|
|---|---|
||**10,459**
**191**
**248**
**10,898**
**9,735**|
||344
-
-
344
305
-
8
60
68
32
9,471
761
20
10,252
9,463
517
-
-
517
367|
||**10,332**
**769**
**80**
**11,181**
**10,167**|
||**127**
**(578)**
**168**
**(283)**
**(432)**
-
40
749
789
(376)|
||**127**
**(538)**
**917**
**506**
**(808)**
562
(290)
(272)
-
-|
||**689**
**(828)**
**645**
**506**
**(808)**
336
-
-
336
(262)|
||**1,025**
**(828)**
**645**
**842**
**(1,070)**|
||(7,088)
10,920
7,160
10,992
12,062|
||**(6,063)**
**10,092**
**7,805**
**11,834**
**10,992**|
All incoming and outgoing resources derive from continuing operations. The Group has no gains and losses other than those recognised in this Statement of Financial Activities.
The accompanying notes on pages 37 to 59 form part of these financial statements.
Total investment income amounted to £344k (2023: £290k) of which £113k (2023: £71k) was unrestricted, £12k restricted (2023: £125k) and £219k (2023: £94k) accounted for within the Endowment Fund.
33
## CHARITABLE COMPANY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
|Note
Income and endowments from:
Donations and legacies
5
Income from charitable activities:
Orchestral activity and education
6
Income from other trading activities
Activities for generating funds
7
Income from investments
Other incoming resources
Orchestra Tax Credit
**Total income**
Expenditure
Expenditure on raising funds:
Costs of activities for generating funds
8
Investment management expenses
Expenditure on charitable activities
Orchestral activity and education
9
Other expenditure
Retirement benefit scheme costs
22
**Total expenditure**
**Net income/(expenditure) and net movement in funds before gains**
**and losses on investments**
Net gains/(losses) on investments
13
**Net incoming/(outgoing) resources before other recognised gains and losses**
Transfers
Other recognised gains and losses
Actuarial gain/(loss) on defined benefit pension scheme
22
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward at 1 April
**Total funds carried forward at 31 March**
**18**|
Unrestricted
Restricted
Endowment
Funds
Funds
Funds
Total
Total
2024
2024
2024
2024
2023
£’000
£’000
£’000
£’000
£’000
4,271
179
-
4,450
4,307
3,553
-
-
3.553
2,984
204
-
-
204
274
109
12
-
121
77
-
-
2,713
2,713
2,014|
|---|---|
||**10,850**
**191**
**-**
**11,041**
**9,656**|
||
332
-
-
332
297
-
8
-
8
1
9,468
759
-
10,227
9,442
517
-
-
517
367|
||**10,317**
**767**
**-**
**11,084**
**10,107**|
||**533**
**(576)**
**-**
**(43)**
**(451)**
-
40
-
40
(14)|
||
**533**
**(536)**
**-**
**(3)**
**(465)**|
||250
(250)
-
-
-
336
-
-
336
(262)|
||**1,119**
**(786)**
**-**
**333**
**(727)**|
||(7,201)
10,878
42
3,719
4,446|
||
**(6,082)**
**10,092**
**42**
**4,052**
**3,719**|
All incoming and outgoing resources derive from continuing operations. The charitable company has no gains and losses other than those recognised in this Statement of Financial Activities.
The accompanying notes on pages 37 to 59 form part of these financial statements.
Total investment income amounted to £121k (2023: £77k) of which £109k (2023: £70k) was unrestricted and £12k restricted (2023: £7k).
34
## CONSOLIDATED AND AGGREGATED AND CHARITABLE COMPANY BALANCE SHEETS AT 31 MARCH 2024
Hallé Concerts Society (A Charitable Company Limited by Guarantee) Company Number 62753
|Note
**Fixed assets**
Tangible assets
12
Investments
13
**Current assets**
Debtors
14
Cash at bank and in hand
**Liabilities:**
**Creditors:**amounts falling
due within one year
15
**Net current assets**
Total assets less liabilities excluding pension liability
Pension liability
22
**Total assets less liabilities including pension liability**
**Capital funds**
Endowments
**Income funds**
Restricted funds
**Unrestricted funds:**
Other charitable funds
Pension reserve
**Total Funds**
**18**|Group
Group
Company
Company
2024
2023
2024
2023
£’000
£’000
£’000
£’000
6,454
6,760
6,170
6,460
7,885
7,153
354
322|
|---|---|
||14,339
13,913
6,524
6,782|
||6,139
4,165
6,279
4,667
1,305
3,142
1,186
2,477|
||7,444
7,307
7,465
7,144
(1,909)
(1,519)
(1,897)
(1,498)|
||**5,535**
**5,788**
**5,568**
**5,646**|
||19,874
19,701
12,092
12,428
(8,040)
(8,709)
(8,040)
(8,709)|
||**11,834**
**10,992**
**4,052**
**3,719**|
||7,805
7,160
42
42
10,092
10,920
10,092
10,878
1,977
1,621
1,958
1,508
(8,040)
(8,709)
(8,040)
(8,709)|
||(6,063)
(7,088)
(6,082)
(7,201)|
|||
||**11,834**
**10,992**
**4,052**
**3,719**|
The notes on pages 37 to 59 form part of these financial statements.
These financial statements were approved by the Board of Trustees and signed on its behalf on 26 July 2024 by
Debbie Francis Chair Tim Edge Chair of Audit Committee
35
CONSOLIDATED AND AGGREGATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024
|**Cash outflow from operating activities**
**Cash flows from investing activities:**
**Interest and dividends**
Interest received
Interest paid
Dividends received
**Net cash inflow from investing activities**
**Capital expenditure and financial investment**
Payments to acquire tangible fixed assets
Payments to acquire fixed asset investments
Receipts from sales of fixed asset investments
**Net cash outflow from capital expenditure and financial investment**
Reconciliation of net cash flows to movement in net funds
Decrease in cash and cash equivalents in the year
Cash and cash equivalents at 1 April
**Total cash and cash equivalents at 31 March**
**Notes to the group cash flow statement**
**Reconciliation of net movement in funds to net cash flow from operating activities**
Net incoming/(outgoing) as per the SOFA
Depreciation charge
Increase in debtors
Increase/(Decrease) in creditors
(Decrease)/Increase in pension fund liability
(Gain)/Loss on investments
Interest received
Interest paid
Investment income
**Net cash outflow from operating activities**|2024
2023
£’000
£’000
**(2,086)**
**(3,184)**|
|---|---|
||113
76
(2)
(2)
229
213|
||**342**
**287**|
||(66)
(118)
(275)
(514)
248
319|
||**(93)**
**(313)**|
||(1,837)
(3,210)
3,142
6,352|
||**1,305**
**3,142**|
|||
||842
(1,070)
372
376
(1,974)
(2,145)
390
(456)
(669)
22
(705)
376
(115)
(76)
2
2
(229)
(213)|
||**(2,086)**
**(3,184)**|
|**Analysis of net debt**
Cash at hand and in bank||
|---|---|
||At 1
At 31
April 2023
Cash flow
March 2024
£’000
£’000
£’000
3,142
(1,837)
1,305|
||**3,142**
**(1,837)**
**1,305**|
The notes on pages 37 to 59 form part of these financial statements.
36
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## 1 STATUS OF CHARITABLE COMPANY AND LIABILITY OF MEMBERS
The Hallé Concerts Society is a registered charity and a company limited by guarantee, incorporated in the UK. The registered office is: The Bridgewater Hall, Manchester M1 5HA.
Each member undertakes to contribute to the assets of the Society in the event of the Society being wound-up during the time he is a member, or within one year of ceasing to be a member. In the case of Subscribing Members this sum shall not exceed £5, but in the case of Permanent Members such sum shall not exceed the amount which the Board determined and agreed with the member when he or she became a member of the Society.
## 2 ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the Group’s financial statements.
## **a) Basis of preparation**
The financial statements have been prepared in accordance with applicable accounting standards, in accordance with 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) (Charities SORP), and the Companies Act 2006. The accounts are prepared under the historical cost accounting convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to the accounts.
The Society meets the definition of a public benefit entity under FRS 102.
The Society is considered to be a qualifying entity under FRS 102 and has taken advantage of the reduced disclosure framework of FRS 102 in respect of certain disclosures for the Company. No separate Company cash flow statement is included.
## **b) Preparation of accounts on a going concern basis**
The Trustees have adopted the going concern basis in preparing these accounts after assessing the forecast reserves position together with the principal risks and a range of scenarios which would place pressure on the forecast reserves, including the wider political and economic environment.
The Trustees have considered the going concern position through modelling of a prudent Base forecast which was then stress-tested for a number of potential downside factors. The forecast goes through to March 2026; this shows positive expendable reserves in excess of the target of £3 million with both the Base and more pessimistic forecasts.
The Trustees also considered liquidity and the review of cash forecasts shows adequate cash reserves over the period.
The Trustees have also based their going concern assessment on the potential for management actions to mitigate any worsening scenario.
Taking the above factors into account, the Trustees have a reasonable expectation that the Charity will be able to manage the operational and financial risks facing the Society and will have adequate resources to continue in operation for at least 12 months from the signing date of these consolidated financial statements. They therefore consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.
## **c) Basis of consolidation and aggregation**
The statement of financial activities (SOFA) and balance sheet of the Company include the Sickness and Benevolent Fund (a charity linked by a Charity Commission Uniting Direction).
The income and expenditure account, SOFA and balance sheet of the Group consolidate the financial statements of the charity and the results of the charity’s subsidiaries, with the exception that movements in endowment funds are not aggregated in the income and expenditure account in accordance with the SORP.
The Hallé Endowment Trust has a year end of 31 December and the Charles Hallé Foundation a year end of 5 April. For the purposes of consolidation, the results of the Hallé Endowment Trust to 31 March 2024 are aggregated into the 31 March 2024 Group financial statements. Further information is included in note 24. The Charles Hallé Foundation has been aggregated based on the financial statements as at 5 April 2024.
The Society has taken advantage of section 408 of the Companies Act 2006 in not presenting its own income and expenditure account.
37
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## ACCOUNTING POLICIES (CONTINUED)
## **d) Income**
Income from box office admissions, engagement fees and education workshops is included in incoming resources in the period in which the relevant performance takes place. Income relating to performances which take place after the year end is deferred.
Grants receivable from funders for general purposes are taken to the statement of financial activities in the year to which they relate.
All other income is recognised when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution, the grant of probate where known or the legacy being received. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution.
Gifts in kind are included in income when they are receivable. Gifts of shares are held at market value but not recognised as a realised gain until all restrictions on disposal have been met.
Income in the form of grants from the permanent endowment is unrestricted.
Orchestra tax relief is recognised in the period to which it relates. The Society claims Orchestra Tax Relief as it is a qualifying Orchestral Production Company, which undertakes qualifying concerts. For 2023/24 the relief is payable at a rate of 50% of qualifying expenditure (80% of the creative and production costs incurred).
## **e) Taxation**
The Society is a registered charity and by virtue of its trading activities being in fulfilment of the objects of the Charitable Company, the Charitable Company is exempt from corporation tax on all charitable activities. The charge for taxation on the subsidiary company’s noncharitable activities is based on the profit for the year.
## **f) Expenditure**
All expenditure is accounted for on an accruals basis, inclusive of irrecoverable VAT.
The costs of raising funds represents the costs of securing sponsorship and donations for the funds for the Society. Resources expended which form part of the Group’s trading activities are separately disclosed in fundraising trading.
The cost of activities in furtherance of the Group’s charitable objectives include costs directly incurred in undertaking those activities. Costs for future performances are deferred until the period in which the relevant performance takes place. Where costs cannot be directly attributed to particular categories they are apportioned on a basis consistent with the average consumption of resources as set out in the notes.
Governance costs represent the costs associated with the governance arrangements of the Group which relate to the strategic management of the Group as opposed to those costs associated with fundraising or charitable activity. They include the costs of external audit, legal and professional advice for Trustees and the costs of constitutional and statutory compliance.
Support costs relating to a single activity are allocated directly to that activity. Where support costs relate to several activities they have been apportioned on a basis consistent with the average consumption of resources as set out in note 10.
## **g) Irrecoverable VAT**
Irrecoverable VAT is charged against the category of expenditure for which it was incurred.
## **h) Funds**
Unrestricted funds are those funds available for use at the discretion of the Trustees in the furtherance of the general objectives of the charity.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The purpose of each restricted fund is set out in note 18.
Within the Hallé Group there are two permanent endowment funds which are held within the Hallé Endowment Trust: the Main Endowment Fund and the Catalyst Endowment Fund.
The principal activity of the Hallé Endowment Trust is to maintain a capital endowment fund and to apply the annual income of that fund in perpetuity towards the education of the general public in the study, appreciation and practice of music and the allied arts by furthering and supporting the objects and work of the Hallé Concerts Society. As at 1 January 2017 the Trustees adopted the total return approach to investment accounting for the Main Endowment Fund, under the powers granted in Section 4 of the Trusts (Capital and Income) Act 2013. This allows any increase in the value of an investment to be treated as income. The Catalyst Endowment Fund is held as a segregated fund within the fund of the Hallé Endowment Trust under the terms of a Trust deed dated 29 October 2012 between the Hallé Concerts Society and the Arts Council of England (ACE). From 1 January 2023 the Trustees also adopted the total return approach to investment accounting for the Catalyst Fund following approval from ACE.
Transfers between funds represent grants made by subsidiaries from restricted and endowment funds to the Society to support its activities in accordance with the terms of the subsidiary’s trust deeds.
38
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## ACCOUNTING POLICIES (CONTINUED)
## **i) Tangible fixed assets**
Assets with a purchase cost of less than £500 are not capitalised. All assets are held at cost except for certain musical instruments which were revalued.
Depreciation is provided so as to write off tangible fixed assets over their expected useful lives in equal instalments, as follows:
Fixtures and Fittings: Three to ten years Motor Vehicles: Five years Music Library: Five years Musical Instruments: Ten to twenty-five years Leasehold property: Twenty-five years
The musical instrument held by the Hallé Endowment Trust is re-valued at market value by the Trustees periodically based on the Trustees’ review of recent sales values of similar instruments.
The leasehold of Hallé St Peter’s was acquired from the Homes and Communities Agency for a period of 999 years at a peppercorn rent. The terms of the lease place restrictions on the use of the building and its disposition and therefore no value is placed on the leasehold itself.
## **j) Investments**
Investments are included at fair value, measured at bid value. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year. In relation to the Hallé Endowment Trust, the Trustees adopted a total return approach to the permanent endowment with effect from 1 January 2017. The return on investments determines the ability of the Endowment Trust to make grants to the Society.
Investments in subsidiary undertakings are valued at cost.
## **k) Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for any obsolete or slow-moving items.
## **l) Pension costs**
The Charitable Company’s defined benefit pension scheme was closed to future accrual in July 2006. For that scheme, current and past service costs and the interest cost and expected return on assets are charged to resources expended, and are allocated to appropriate expenditure categories. Actuarial gains and losses are recognised immediately in ‘other recognised gains and losses’.
The defined benefit scheme is funded, with the assets of the scheme held separately from those of the group, in a separate Trustee administered fund. The scheme’s assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent currency and term to the scheme liabilities. Actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The resulting defined benefit asset or liability is presented separately after other net assets on the face of the balance sheet.
The Society also operates a defined contribution pension scheme (Group Personal Pension Plan) for which the amount charged to the Statement of Financial Activities in respect of pension costs is the contributions payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either other creditors or prepayments in the balance sheet.
## **m) Accounting estimates and judgements**
Key sources of estimation uncertainty
In the application of the Group’s accounting policies, which are described above, the Trustees are required to make judgements, estimates and assumptions concerning the future. The resulting estimates will, by definition, seldom equal the related actual results. The estimates and associated assumptions are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are detailed below:
## **Defined benefit scheme**
The Company has an obligation to pay pension benefits to certain employees. The cost of these benefits and the present value of the obligation depend on a number of factors including: life expectancy, salary increases, asset valuations and the discount rate of corporate bonds. Management estimates these factors in determining the net pension liability in the balance sheet. The assumptions reflect historical experience and current trends.
See note 22 for the disclosures relating to the defined benefit pension scheme.
## **Orchestra Tax Relief**
Included within debtors is a provision for the receipt of Orchestral Tax Relief (OTR) to the extent that it is probable that funds will be received and can be reliably estimated. The amount receivable is measured at management’s best estimate of the claim at the end of the reporting period. The charity estimates the amount of OTR that will be received based on the eligible expenditure incurred during the year and by flexing amounts included in previously submitted returns. The eligible expenditure is determined in accordance with the guidelines provided by HM Revenue & Customs (HMRC) and includes direct expenditure on the production and performance of orchestral concerts.
There are no critical accounting judgements.
39
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## 3 MOVEMENT IN FUNDS
i) The net movement in funds is stated after charging:
|gg
Auditor remuneration - audit: - Group (including Society)
- Society alone
other services relating to taxation for the Group and the Society
Depreciation|2024
2023
£’000
£’000
21
20
17
16
3
1
372
376|
|---|---|
## 4 SUBSIDIARY COMPANY
The Hallé Concerts Society owns the whole of the issued ordinary share capital of Hallé Promotions Limited, a company registered in England. The company undertook no transactions during the year.
## 5 DONATIONS AND LEGACIES
|DONATIONS AND LEGACIES
Group
Grants receivable
Revenue grants receivable:
Arts Council England
GM Combined Authority
Manchester City Council
**Total revenue grants receivable**
**Total grants receivable**
Donations and similar income
Fundraising donations
Membership subscriptions
Legacies and bequests
**Total donations and similar income**
**Total grants and donations**|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
Total
2024
2024
2024
2024
£’000
£’000
£’000
£’000
2,122
-
-
2,122
749
-
-
749
337
-
-
337|
|---|---|
||**3,208**
**-**
**-**
**3,208**|
||**3,208**
**-**
**-**
**3,208**|
||507
179
29
715
25
-
-
25
119
-
-
119|
||**651**
**179**
**29**
**859**|
|||
||**3,859**
**179**
**29**
**4,067**|
|Comapny
**Grants receivable**
Revenue grants receivable:
Arts Council England
GM Combined Authority
Manchester City Council
**Total revenue grants receivable**
**Total grants receivable**
**Donations and similar income**
Fundraising donations
Membership subscriptions
Legacies and bequests
**Total donations and similar income**
**Total grants and donations**|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
Total
2024
2024
2024
2024
£’000
£’000
£’000
£’000
2,122
-
-
2,122
749
-
-
749
337
-
-
337|
|---|---|
||**3,208**
**-**
**-**
**3,208**|
||**3,208**
**-**
**-**
**3,208**|
||919
178
-
1,097
25
-
-
25
119
-
-
119|
||**1,063**
**178**
**-**
**1,241**|
|||
||**4,271**
**178**
**-**
**4,449**|
40
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## DONATIONS AND LEGACIES (CONTINUED)
|
Group
**Grants receivable**
Revenue grants receivable:
Arts Council England
GM Combined Authority
Manchester City Council
**Total revenue grants receivable**
**Total grants receivable**
**Donations and similar income**
Fundraising donations
Membership subscriptions
Legacies and bequests
**Total donations and similar income**
**Total grants and donations**
Company
**Grants receivable**
Revenue grants receivable:
Arts Council England
GM Combined Authority
Manchester City Council
**Total revenue grants receivable**
**Total grants receivable**
**Donations and similar income**
Fundraising donations
Membership subscriptions
Legacies and bequests
**Total donations and similar income**
**Total grants and donations**|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
Total
2023
2023
2023
2023
£’000
£’000
£’000
£’000
2,122
-
-
2,122
749
-
-
749
335
-
-
335|
|---|---|
||**3,206**
**-**
**-**
**3,206**|
||**3,206**
**-**
**-**
**3,206**|
||360
372
59
791
30
-
-
30
129
-
-
129|
||**519**
**372**
**59**
**950**|
|||
||**3,725**
**372**
**59**
**4,156**|
|||
||Unrestricted
Restricted
Endowment
Funds
Funds
Funds
Total
2023
2023
2023
2023
£’000
£’000
£’000
£’000
2,122
-
-
2,122
749
-
-
749
335
-
-
335|
||**3,206**
**-**
**-**
**3,206**|
||**3,206**
**-**
**-**
**3,206**|
||670
372
-
1,042
30
-
-
30
29
-
-
29|
||**729**
**372**
**-**
**1,101**|
||**3,935**
**372**
**-**
**4,307**|
41
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## 6 INCOME FROM CHARITABLE ACTIVITIES
|INCOME FROM CHARITABLE ACTIVITIES||
|---|---|
|**Orchestral concerts and related work**
Box office income (Manchester promotions)
Engagement income
Income from overseas touring
Broadcasts, recordings and other income
Education and outreach
Hallé St Peter’s & Hallé at St Michael’s
**Total income from charitable activities**|Group and
Group and
Company
Company
2024
2023
£’000
£’000
1,483
1,253
1,060
958
130
-
90
133|
||2,763
2,344
490
363
300
277|
||**3,553**
**2,984**|
Income from charitable trading activities was all unrestricted as in the previous year.
## 7 INCOME FROM OTHER TRADING ACTIVITIES
|
**Sponsorship and other income**
Corporate sponsorship
Fundraising events
Other income
**Total activities for generating funds**|Group
Group
Company
Company
2024
2023
2024
2023
£’000
£’000
£’000
£’000
182
261
182
261
17
17
-
-
22
13
22
13|
|---|---|
||**221**
**291**
**204**
**274**|
Income from other trading activities was all unrestricted as in the previous year.
## 8 EXPENDITURE ON RAISING FUNDS
|EXPENDITURE ON RAISING FUNDS
Fundraising salary & administration costs
Allocated support costs
**Total expenditure on raising funds**|Group
Group
Company
Company
2024
2023
2024
2023
£’000
£’000
£’000
£’000
302
265
290
257
42
40
42
40|
|---|---|
||**344**
**305**
**332**
**297**|
Expenditure on raising funds was all unrestricted as in the previous year.
42
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## 9 COSTS OF CHARITABLE ACTIVITY
|COSTS OF CHARITABLE ACTIVITY||
|---|---|
|
Group
**Orchestral concerts and related work**
Orchestra, related staff and other costs
Conductors and soloists
Overseas tours
Travel and subsistence
Hall hire
Sundry concert costs
Music and instrument hire
Recording costs
Marketing & Communications
Box office charges
Programme costs
Depreciation
Support costs
Education and outreach
Direct Education costs
Choir, Youth Orchestra, Youth Choir, & Children’s Choir
Support costs
Hallé St Peter’s & Hallé at St Michael’s Costs
Operational costs
**Total charitable expenditure**|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
Total
2024
2024
2024
2024
£’000
£’000
£’000
£’000
4,783
61
-
4,844
532
273
-
805
123
-
-
123
235
-
-
235
745
-
-
745
147
-
-
147
104
-
-
104
64
-
-
64
606
-
-
606
166
-
-
166
35
-
-
35
23
333
16
372
757
1
4
762|
||**8,320**
**668**
**20**
**9,008**|
||294
42
-
336
382
46
-
428
42
-
-
42|
||**718**
**88**
**-**
**806**|
||433
5
-
438
**433**
**5**
**-**
**438**|
||**9,471**
**761**
**20**
**10,252**|
43
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## COST OF CHARITABLE ACTIVITY (CONTINUED)
|F CHARITABLE ACTIVITY (CONTINUED)||
|---|---|
|
Group
**Orchestral concerts and related work**
Orchestra, related staff and other costs
Conductors and soloists
Travel and subsistence
Hall hire
Sundry concert costs
Music and instrument hire
Recording costs
Marketing & Communications
Box office charges
Programme costs
Depreciation
Support costs
Education and outreach
Direct Education costs
Choir, Youth Orchestra, Youth Choir, & Children’s Choir
Support costs
**Hallé St Peter’s & Hallé at St Michael’s Costs**
Operational costs
**Total charitable expenditure**|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
Total
2023
2023
2023
2023
£’000
£’000
£’000
£’000
4,584
66
-
4,650
424
357
-
781
231
-
-
231
647
-
-
647
95
-
-
95
85
-
-
85
63
5
-
68
632
-
-
632
131
-
-
131
33
-
-
33
24
336
16
376
718
3
-
721|
||**7,667**
**767**
**16**
**8,450**|
||264
25
-
289
292
75
-
367
40
-
-
40|
||**596**
**100**
**-**
**696**|
||316
1
-
317|
||**316**
**1**
**-**
**317**|
||**8,579**
**868**
**16**
**9,463**|
Company charitable expenditure is analysed on page 43.
44
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## COST OF CHARITABLE ACTIVITY (CONTINUED)
|
Company
**Orchestral concerts and related work**
Orchestra, related staff and other costs
Conductors and soloists
Overseas tours
Travel and subsistence
Hall hire
Sundry concert costs
Music and instrument hire
Recording costs
Marketing & Communications
Box office charges
Programme costs
Depreciation
Support costs
Education and outreach
Direct Education costs
Choir, Youth Orchestra, Youth Choir, & Children’s Choir
Support costs
**Hallé St Peter’s & Hallé at St Michael’s Costs**
Operational costs
**Total charitable expenditure**|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
Total
2024
2024
2024
2024
£’000
£’000
£’000
£’000
4,783
61
-
4,844
532
272
-
804
123
-
-
123
235
-
-
235
745
-
-
745
147
-
-
147
104
-
-
104
64
-
-
64
606
-
-
606
166
-
-
166
35
-
-
35
23
333
-
356
754
-
-
754|
|---|---|
||**8,317**
**666**
**-**
**8,983**|
||294
42
-
336
382
46
-
428
42
-
-
42|
||**718**
**88**
**-**
**806**|
||433
5
-
438|
||**433**
**5**
**-**
**438**|
||**9,468**
**759**
**-**
**10,277**|
45
## NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## COST OF CHARITABLE ACTIVITY (CONTINUED)
|AA A||
|---|---|
|COST OF CHRITBLE CTIVITY (CONTINUED)
Company
**Orchestral concerts and related work**
Orchestra, related staff and other costs
Conductors and soloists
Travel and subsistence
Hall hire
Sundry concert costs
Music and instrument hire
Recording costs
Marketing & Communications
Box office charges
Programme costs
Depreciation
Support costs
**Education and outreach**
Direct Education costs
Choir, Youth Orchestra, Youth Choir, & Children’s Choir
Support costs
**Hallé St Peter’s & Hallé at St Michael’s Costs**
Operational costs
**Total charitable expenditure**|Unrestricted
Restricted
Endowment
Funds
Funds
Funds
Total
2023
2023
2023
2023
£’000
£’000
£’000
£’000
4,584
66
-
4,650
424
357
-
781
231
-
-
231
647
-
-
647
95
-
-
95
85
-
-
85
63
5
-
68
632
-
-
632
131
-
-
131
33
-
-
33
24
336
-
360
715
1
-
716|
||**7,664**
**765**
**-**
**8,429**|
||264
25
-
289
292
75
-
367
40
-
-
40|
||596
100
-
696|
||316
1
-
317|
||316
1
-
317|
||**8,576**
**866**
**-**
**9,442**|
46
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## 10 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS
|
Group
Management and Finance
Sundry office & operational costs
Professional and consultancy fees
Company
Management and Finance
Sundry office and operational costs
Professional and consultancy fees|Orchestral
work
Education
Fundraising
Total
2024
2024
2024
2024
£’000
£’000
£’000
£’000
452
25
25
502
233
13
13
259
77
4
4
85|
|---|---|
||**762**
**42**
**42**
**846**|
|||
||Orchestral
work
Education
Fundraising
Total
2024
2024
2024
2024
£’000
£’000
£’000
£’000
450
25
25
500
233
13
13
259
71
4
4
79|
||**754**
**42**
**42**
**838**|
|Group
Management and Finance
Sundry office & operational costs
Professional and consultancy fees
Company
Management and Finance
Sundry office & operational costs
Professional and consultancy fees|Orchestral
work
Education
Fundraising
Total
2023
2023
2023
2023
£’000
£’000
£’000
£’000
446
25
25
496
220
12
12
244
55
3
3
61|
|---|---|
||**721**
**40**
**40**
**801**|
|||
||Orchestral
work
Education
Fundraising
Total
2023
2023
2023
2023
£’000
£’000
£’000
£’000
445
25
25
495
220
12
12
244
50
3
3
56|
||**715**
**40**
**40**
**795**|
Support costs are apportioned on a percentage basis reflecting the time spent working to support each area of activity.
47
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## 11 (A) STAFF NUMBERS AND COSTS
The average number of staff employed during the year, analysed by category, was as follows:
|The average number of staff employed during the year analysed by category was as follows:||
|---|---|
|, ,
Orchestral musicians
Administrative and other non-playing personnel|Group and
Group and
Company
Company
2024
2023
Number
Number
75
75
47
48|
||122
123|
|The aggregate payroll costs of these persons were as follows:
Salaries and fees
Employers’ National Insurance contributions
Employers’ Group Personal Pension Plan pension contributions|Group and
Group and
Company
Company
2024
2023
Number
Number
3,923
3,907
413
408
488
460|
|---|---|
||4,824
4,775|
## 11 (B) REMUNERATION OF TRUSTEES AND EMPLOYEES
The Trustees consider the Key Management Personnel to comprise the Trustees and the Chief Executive. The Trustees receive no remuneration nor reimbursement of expenses and derive no financial benefit from their services to the Society. Employee benefits amounting to £135k (2023: £127k) were received by Key Management Personnel in 2023/24. The Chief Executive’s pay is reviewed each year and normally raised in line with other management salaries.
The number of employees whose emoluments (salaries and benefits in kind) amounted to more than £60,000 during the year was as follows:
||2024|2023|
|---|---|---|
||Number|Number|
|£60,000-£70,000|1|1|
|£110,000-£120,000|1|1|
The employers’ contribution to the Hallé Group Personal Pension Plan for the above employees was £20k (2023: £19k).
48
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## 12 TANGIBLE FIXED ASSETS
|Group
**Cost or valuation**
At 1 April 2023
Additions
**At 31 March 2024**
**Depreciation**
At 1 April 2023
Charge for the year
**At 31 March 2024**
**Net book value**
**At 31 March 2024**
At 31 March 2023
Company
**Cost or valuation**
At 1 April 2023
Additions
**At 31 March 2024**
**Depreciation**
At 1 April 2023
Charge for the year
**At 31 March 2024**
**Net book value**
**At 31 March 2024**
At 31 March 2023|Leasehold
Music
Musical
Fixtures
Motor
Total
Property
Library
Instruments
& Fittings
Vehicles
£’000
£’000
£’000
£’000
£’000
£’000
7,401
95
1,019
732
81
9,328
-
-
-
66
-
66|
|---|---|
||**7,401**
**95**
**1,019**
**798**
**81**
**9,394**|
||1,303
95
591
541
38
2,568
311
-
27
24
10
372|
||**1,614**
**95**
**618**
**565**
**48**
**2,940**|
||**5,787**
**-**
**401**
**233**
**33**
**6,454**|
||6.098
-
428
191
43
6,760|
|||
||7,401
95
619
732
81
8,928
-
-
-
66
-
66|
||**7,401**
**95**
**619**
**798**
**81**
**8,994**|
||1,303
95
491
541
38
2,468
311
-
11
24
10
356|
||**1,614**
**95**
**502**
**565**
**48**
**2,824**|
||**5,787**
**-**
**117**
**233**
**33**
**6,170**|
||6,098
-
128
191
43
6,460|
Lincoln Stradivarius - The Hallé Orchestra enjoys the use of the Lincoln Stradivarius free of charge. The violin is on loan from the people of the City of Lincoln to whom it was bequeathed in 1970. The Hallé pay for the upkeep of the violin and its insurance, the cost of which is included in expenses. The violin is not included within fixed assets as it remains the property of the City of Lincoln.
Capital commitments - At 31 March 2024 the Society had capital commitments of £nil (2023: £nil).
Revaluations - The Music Library and Musical Instruments held by the Society itself were re-valued on an open market basis at 31 March 1998 to £30k and £179k respectively. In accordance with Charities SORP FRS 102 and with the transitional provisions of FRS 102, these valuations have not been updated as this is considered to be the deemed cost. Under the historical cost convention accounting rules, the net book value of the Music Library and Musical Instruments at 31 March 2024 would have been £nil. The musical instrument held by the Hallé Endowment Trust was revalued to £400k as at 1 January 2017. The revaluation was undertaken by reference to the Coutts index by the Hallé senior management team. Under the historical cost convention accounting rules, the net book value of the instrument at 31 December 2023 would have been £nil in the Endowment Trust’s books.
All tangible fixed assets are used for direct charitable purposes.
49
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
|13
INVESTMENTS
Fair value at 1 April 2023
Net disposals
Additions
Change in market value
Investment Manager Fees charged directly to Fund
**Fair value at 31 March 2024**||
|---|---|
||Group
Company
£’000
£’000
7,153
322
(248)
-
275
-
788
40
(83)
(8)|
||**7,885**
**354**|
In March 2022 CCLA Investment Management were appointed as Investment Managers to replace Cazenove Capital. The final transfer of assets took place in April 2023 with the disposals from Cazenove Capital and the purchase of assets within CCLA Investment management represented by the disposals and additions figures above. There was no additional monies invested in or withdrawn from the portfolios in the year.
The following table shows the valuation and allocation of assets at 31 March 2024. The majority of holdings are in common investment funds.
|Quoted investments:
Global equities
Infrastructure & Operating Assets
Fixed Interest
Cash & Near Cash
Property
Contractual & Other Income
Private Equity & Other
Derivatives|Group
Company
£’000
%
£’000
%
5,636
71.48
253
71.47
720
9.13
32
9.04
633
8.02
29
8.19
172
2.18
8
2.26
362
4.59
16
4.52
98
1.24
4
1.13
263
3.34
12
3.39
1
0.02
-
-|
|---|---|
||**7,885**
**100**
**354**
**100**|
|**Shares in Group companies**
At cost
Provision for impairment
**Quoted investments:**
At fair value|Group
Group
Company
Company
2024
2023
2024
2023
£’000
£’000
£’000
£’000
1
1
1
1
(1)
(1)
(1)
(1)
~~-~~
~~-~~
~~-~~
~~-~~|
|---|---|
||
|
||7,885
7,153
354
322|
||**7,885**
**7,153**
**354**
**322**|
All investments are held at fair value, except for shares in group companies. Investments in UK equities (and bonds) are traded on quoted public markets primarily the London Stock Exchange. Holdings in common investment funds and Unit Trusts are at bid price. The basis of fair value for quoted investments is equivalent to market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).
The Society holds the following investments in Group companies registered in England. The investments represent 100% of the issued ordinary share capital of the following company:
100 £1 ordinary shares in Hallé Promotions Limited, a company engaged in publicity and advertising which was dormant throughout the year.
In addition to the aforementioned subsidiary, the following trusts are aggregated on the basis that they are considered to be subsidiaries of the Society: Hallé Endowment Trust and Charles Hallé Foundation; the Hallé Concerts Society Sickness and Benevolent Fund is linked under a Charity Commission Uniting Direction and therefore included within the Company figures.
50
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
The aggregate of the share capital and reserves/funds as at 31 March 2024 and of the income or expenditure for the period ended on that date for the subsidiary undertakings were as follows:
|for the subsidiary undertakings were as follows:|||
|---|---|---|
||Aggregate of||
||share capital|Income/|
||and reserves/funds|(expenditure)|
||£000|£000|
|Hallé Endowment Trust (charity number:286145)|7,763|(144)|
|Charles Hallé Foundation (charity number:236149)|15|(95)|
|Hallé Promotions Limited (company number:02592501)|5|-|
## 14 DEBTORS
|Trade debtors
Amounts owed by group charities
Other debtors
Orchestra Tax Relief due from HMRC
Other prepayments and accrued income|Group
Group
Company
Company
2024
2023
2024
2023
£’000
£’000
£’000
£’000
765
337
765
337
-
-
207
664
122
199
113
199
4,734
3,252
4,734
3,252
518
377
460
215|
|---|---|
||**6,139**
**4,165**
**6,279**
**4,667**|
All debtors fall due within one year.
## 15 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|Note
Trade creditors
Amounts owed to connected charities
Taxation and social security
Other creditors
Deferred income
16
Accruals|Group
Group
Company
Company
2024
2023
2024
2023
£’000
£’000
£’000
£’000
330
255
330
255
12
11
-
-
117
109
117
109
117
54
128
65
712
420
707
420
621
670
615
649|
|---|---|
||**1,909**
**1,519**
**1,897**
**1,498**|
## 16 DEFERRED INCOME
|DEFERRED INCOME||
|---|---|
|As at 1 April 2023
Amount released to incoming resources
Amount deferred in the year
**As at 31 March 2024**|Group
Company
£’000
£’000
420
420
(420)
(420)
712
707|
||**712**
**707**|
Deferred income at 31 March 2024 includes £483k of income awarded to fund activities in 2024/25. The remaining deferred income is sales relating to concerts which take place after the year end.
51
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## 17 FINANCIAL INSTRUMENTS
|
Financial assets measured at amortised cost
Financial assets measured at fair value
Financial liabilities measured at amortised cost|2024
2023
£’000
£’000
7,444
7,307|
|---|---|
||7,885
7,153|
||1,909
1,519|
Group financial assets measured at amortised cost are cash, trade debtors, other debtors, prepayments and accrued income. Impairment losses charged to financial assets measured at amortised cost in the year amounted to £nil (2023: £nil).
Group financial assets measured at fair value are the investments.
Group financial liabilities measured at amortised cost are trade creditors, other creditors and accruals.
## 18 ANALYSIS OF TOTAL FUNDS
|Group
Unrestricted reserves
General funds
Designated funds:
St Peter’s maintenance fund
St. Michael’s maintenance fund
Pension reserve
**Total unrestricted funds**
Restricted funds
Fixed asset reserves
Hallé St Peter’s (HSP) capital fund
HSP capital fund - Phase 2
ACE capital funding – Phase 2
Monument artistic
Monument St Peter’s revenue
Oglesby St Peter’s revenue
Oglesby revenue challenge
Hallé St Peter’s artistic fund
Education and outreach
Hallé 2058 Foundation
Sickness & Benevolent fund
CHF Restricted
Hallé Endowment Trust
**Total restricted funds**
Endowment Funds
HET Endowment fund
HCS Endowment fund
**Total endowment funds**
**Total funds**|Actuarial &
At 31 March
Investment
At 31 March
2023
Income
Expenditure
Losses
Transfers
2024
£’000
£’000
£’000
£’000
£’000
£’000
1,516
10,459
(9,940)
-
(198)
1,837
45
-
-
-
15
60
60
-
-
-
20
80
(8,709)
-
(392)
336
725
(8,040)|
|---|---|
||**(7,088)**
**10,459**
**(10,332)**
**336**
**562**
**(6,063)**|
||150
94
(46)
-
-
198
680
-
(82)
-
-
598
528
-
(241)
-
-
287
4,840
-
-
-
-
4,840
1,363
-
(270)
-
-
1,093
1,000
-
-
-
(250)
750
500
-
-
-
-
500
356
-
(6)
-
-
350
91
-
-
-
-
91
15
-
(6)
-
-
9
1,086
39
(1)
-
-
1,124
271
12
(71)
40
-
252
-
46
(46)
-
-
-
40
-
-
-
(40)
-|
||**10,920**
**191**
**(769)**
**40**
**(290)**
**10,092**|
||7,118
248
(80)
749
(272)
7,763
42
-
-
-
-
42|
||**7,160**
**248**
**(80)**
**749**
**(272)**
**7,805**|
|||
||**10,992**
**10,898**
**(11,180)**
**1,124**
**-**
**11,834**|
52
NOTES TO THE ACCOUNTS (forming part of the financial statements)
## ANALYSIS OF TOTAL FUNDS (CONTINUED)
|Company
Unrestricted reserves
General funds
Designated Funds:
St Peter’s Designated Fund
St. Michael’s Designated Fund
Pension reserve
**Total unrestricted funds**
Restricted funds
Fixed asset reserves
Hallé St Peter’s capital fund (HSP)
HSP capital fund - Phase 2
ACE capital funding – Phase 2
Monument artistic
Monument St Peter’s revenue
Oglesby St Peter’s revenue
Oglesby revenue challenge
St Peter’s artistic fund
Education and outreach
Hallé 2058 Foundation
Sickness & Benevolent fund
**Total restricted funds**
**Endowment Funds**
HCS Endowment fund
**Total endowment funds**
**Total funds**|Actuarial &
At 31 March
Investment
At 31 March
2023
Income
Expenditure
Losses
Transfers
2024
£’000
£’000
£’000
£’000
£’000
£’000
1,403
10,850
(9,925)
-
(510)
1,818
45
-
-
-
15
60
60
-
-
-
20
80
(8,709)
-
(392)
366
725
(8,040)|
|---|---|
||**(7,201)**
**10,850**
**(10,317)**
**366**
**250**
**(6,082)**|
||150
94
(46)
-
-
198
680
-
(82)
-
-
598
528
-
(241)
-
-
287
4,840
-
-
-
-
4,840
1,363
-
(269)
-
-
1,094
1,000
-
-
-
(250)
750
500
-
-
-
-
500
356
-
(6)
-
-
350
91
-
-
-
-
91
14
46
(52)
-
-
8
1,086
39
(1)
-
-
1,124
270
12
(70)
40
-
252|
||**10,878**
**191**
**(767)**
**40**
**(250)**
**10,092**|
||42
-
-
-
-
42|
||**42**
**-**
**-**
**-**
**-**
**42**|
|||
||**3,719**
**11,041**
**(11,084)**
**376**
**-**
**4,052**|
## **Restricted funds:**
All restricted funds are used in line with the original restrictions imposed by the donors.
- The fixed asset reserves represent monies provided for capital expenditure which in accordance with applicable accounting standards will be reduced over the useful lives of the assets in line with their depreciation.
- The Hallé St Peter’s Capital Funds and “ACE capital funding – Phase 2” represent monies received to support both the original conversion of Hallé St Peter’s, Ancoats into a rehearsal centre and the Phase 2 extension completed in November 2019. In accordance with applicable accounting standards these reserves will be reduced over the useful lives of the assets in line with their depreciation.
- The Monument funds represent funding received for revenue support for Hallé St Peter’s Phase 2 and to support the artistic programme.
- The Oglesby funds represent challenge funding from the Oglesby Trust pledged to match other funding raised, together with funding raised from supporters to match the Trust’s gift to support activity at Hallé St Peter’s.
- The Hallé St Peter’s Artistic fund represents a restricted donation for the purposes of enhancing the environment at Hallé St Peter’s.
- The Hallé 2058 Foundation Funds represent monies received in support of the fundraising effort for the Hallé’s 150th birthday combined with the funds raised by the earlier Hallé Public Appeal.
- The Sickness and Benevolent Fund and Hallé Endowment Trust funds represent donations and investments held for the restricted distributable purposes of those trusts.
- The Education and outreach funds represent funds received in support of specific educational and outreach projects.
- The Charles Hallé Foundation restricted funds represent funds received from a variety of donors for specific educational and outreach projects. Those funds are disclosed in the accounts of the Charles Hallé Foundation.
53
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## ANALYSIS OF TOTAL FUNDS (CONTINUED)
## **Endowment funds**
Endowments amounting to £42k (2023: £42k) represent the amounts received from members under Article 25 of the Articles of Association.
Funds held in the Hallé Endowment Trust are in respect of public donations received. All endowment funds are in respect of permanent endowments. The Catalyst Endowment Fund was originally an Arts Council initiative matching £ for £ donations raised up to a maximum of £1,000k, achieved in May 2015. All funds raised for the Catalyst Fund are invested in a separately designated fund within the Hallé Endowment Trust.
## 19 TRANSFERS BETWEEN FUNDS
|||
|---|---|
|TRANSFERS BETWEEN FUNDS
Group
Transfers between funds
HET donation to Society funds
HET Catalyst donation to Society funds
HET Endowment to Restricted
HCS restricted to HCS unrestricted
**Total transfers between funds**|Unrestricted
Restricted
Endowment
Total
Funds
Funds
Funds
2024
2024
2024
2024
£’000
£’000
£’000
£’000
229
-
(229)
-
83
-
(83)
-
-
(40)
40
-
250
(250)
-
-|
||**562**
**(290)**
**(272)**
**-**|
## 20 ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS
|ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS||
|---|---|
|Balances at 31 March 2024 represented by:
Tangible assets
Investments
Current assets
Current liabilities
Pension liability
**Total net assets/(liabilities)**|Unrestricted
Restricted
Endowment
Total
Funds
Funds
Funds
2024
2024
2024
2024
£’000
£’000
£’000
£’000
362
5,808
284
6,454
-
354
7,531
7,885
3,349
3,931
164
7,444
(1,734)
(1)
(174)
(1,909)
(8,040)
-
-
(8,040)|
||**(6,063)**
**10,092**
**7,805**
**11,834**|
|Balances at 31 March 2023 represented by:
Tangible assets
Investments
Current assets
Current liabilities
Pension liability
**Total net assets/(liabilities)**|Unrestricted
Restricted
Endowment
Total
Funds
Funds
Funds
2023
2023
2023
2023
£’000
£’000
£’000
£’000
330
6,130
300
6,760
-
322
6,831
7,153
2,792
4,468
47
7,307
(1,501)
-
(18)
(1,519)
(8,709)
-
-
(8,709)|
|---|---|
||**(7,088)**
**10,920**
**7,160**
**10,992**|
In respect of the Hallé Endowment Trust, the Charles Hallé Foundation and the Hallé Concerts Society Sickness and Benevolent Fund, there are adequate funds available to fulfil the obligations of the trusts.
Also included within other restricted funds are reserves in respect of fixed assets as disclosed in note 18. Current assets in endowment funds include £684k held in cash (2023: £284k).
54
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## 21 STATEMENT OF CHANGES IN RESOURCES AVAILABLE FOR CHARITABLE GROUP’S USE
|Net movement in funds for the year
Net (increase)/decrease in tangible fixed assets for direct charitable purposes
**Net movement in funds available for future activities**
Net movement in funds for the year
Net (increase)/decrease in tangible fixed assets for direct charitable purposes
**Net movement in funds available for future activities**|Unrestricted
Restricted
Endowment
Total
Funds
Funds
Funds
2024
2024
2024
2024
£’000
£’000
£’000
£’000
1,025
(828)
645
842
(32)
322
16
306|
|---|---|
||**993**
**(506)**
**661**
**1,148**|
|||
||Unrestricted
Restricted
Endowment
Total
Funds
Funds
Funds
2023
2023
2023
2023
£’000
£’000
£’000
£’000
122
(728)
(464)
(1,070)
(59)
301
16
258|
||**63**
**(427)**
**(448)**
**(812)**|
22 PENSIONS
Defined contribution pension scheme
Since 1 April 2014 the Hallé Concerts Society auto enrols all eligible employees into a contributory Group Personal Pension Plan (GPPP) with Royal London. Prior to this, a contributory Stakeholder Scheme was offered to all permanent employees with Standard Life. Employees joining the GPPP contract directly with Royal London. All contributions are charged to the income and expenditure account as they arise. Contributions are made under a salary sacrifice arrangement The pension cost charge for the current year was £490k (2023: £466k).
## Defined benefit pension scheme
The Society’s defined benefit pension scheme (the Hallé Concerts Society Retirement Benefits Scheme) which provided benefits based on final pensionable salary, was closed to future accrual of benefits from 1 July 2006. The assets of the Scheme are held separately from those of the Society in a Trustee-administered fund.
The full triennial actuarial valuation at 31 March 2022 showed a deficit of £9,160k on the Trustees’ (technical provisions) funding basis.
The Trustees agreed a plan with the Society following the 2022 valuation to pay off the deficit by 31 December 2038. This requires the Society to make payment of £550k for 1 April 2023-31 March 2024, increasing at 2% per annum and to bear the administration costs of approximately £100k per annum. In addition, two lump sums of £175k are due, the first in January 2024 and the second in January 2025. The contributions from the Society reflected in these Annual Accounts are based on this plan.
The 31 March 2023 defined benefit obligation includes a loading to reflect the estimated additional liability arising in respect of the requirement to equalise Guaranteed Minimum Pensions (GMPs) in the Scheme following the October 2018 High Court ruling in respect of the Lloyds pensions schemes.
The Society contributed £850k to the Scheme in the 2023/24 financial year including administration expenses of £125k.
55
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## PENSIONS
The pension liability under the FRS102 accounting requirements is calculated separately by a qualified independent actuary as shown below. The following information relates to the Group and the Company.
|The following information relates to the Group and the Company.||
|---|---|
|Change in benefit obligation
Benefit obligation at start of year
Current service cost company only, including administration expenses
Interest cost
Actuarial gain on obligation
Benefits paid
Administration expenses paid
Benefit obligation at end of year
Change in scheme assets
Fair value of scheme assets at start of year
Expected return on scheme assets
Actuarial losses on assets
Employer contributions
Administration expenses paid
Benefits paid
Fair value of scheme assets at end of year
Funded status
Components of pension cost
Amounts recognised within other expenditure
Administration expenses paid
Net interest cost (on defined benefit liability)
Total pension cost recognised within other expenditure
Re-measurements recognised in other recognised gains and losses
Actuarial losses on the assets
Actuarial gains on the liabilities
Total gain/(loss) recognised in other recognised gains and losses|2024
2023
£’000
£’000
19,000
25,700
125
135
873
695
(1,017)
(6,562)
(856)
(833)
(125)
(135)|
||18,000
19,000|
||10,291
17,013
481
463
(681)
(6,824)
850
607
(125)
(135)
(856)
(833)|
||9,960
10,291|
||(8,040)
(8,709)|
|||
||2024
2023
£’000
£’000
125
135
392
232|
||517
367|
||(681)
(6,824)
1,017
6,562|
||336
(262)|
|All pension costs for the current and preceding year are recognised in unrestricted funds.
Scheme assets
The major categories of Scheme assets, measured at fair value are:
Asset category
Equities/Diversified growth
Government bonds
Cash and net current assets
The expected return on assets:
Actual return on scheme assets (£’000)||
|---|---|
||2024
2023
£’000
£’000
5,224
4,860
3,625
2,975
1,091
2,456|
||9,960
10,291|
||2.10%
2.10%
(200)
(6,361)|
56
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
The major weighted average assumptions used by the Actuary to determine benefit obligations were:
|The major weighted average assumptions used by the Actuary to determine benefit obligations were:|||
|---|---|---|
|Discount rate|4.8%|4.7%|
|Rate of increase in salaries|N/A|N/A|
|Rate of increase in future pensions in payment for members|||
|retiring on or after 1/8/1993 inflation linked up to 5%|3.1%|3.25%|
|Rate of increase of in future pensions in payment for|||
|members retiring before 1/8/1993 3% fixed|3%|3%|
|Rate of future inflation (RPI)|3.3%|3.3%|
|Rate of future inflation (CPI)|2.8%|2.5%|
Weighted average life expectancy for mortality tables used to determine benefit obligations at 31 March
||2024|2023|
|---|---|---|
|Mortality table pre- and post-retirement|100% S3PA|93% S3PA|
||YOB|YOB|
||CMI 2023|CMI 2020|
||1.25%|1.25%|
|Pre-retirement|||
|Life expectancy at 65 of male member currently aged 45|23|24|
|Life expectancy at 65 of a female member currently aged 45|25|26|
|Post-retirement|||
|Life expectancy of male member currently aged 65|21|23|
|Life expectancy of a female member currently aged 65|24|25|
|Allowance for early retirements|No|No|
|Allowance for members to commute pension for tax free cash|Maximum Allowed at|Maximum Allowed at|
||80% of value commuted|80% of value commuted|
## 23 RELATED PARTY TRANSACTIONS
The Charitable Company has relied on the exemption in FRS 102 (s33.1A), which does not require the disclosure of transactions between wholly-owned subsidiaries which are consolidated.
The Society has a connected charity: the Terence Judd Trust. This Trust made contributions to the Society of £7k (2023: £4k) for administration costs during the current year and was owed £11k by the Society (2023: £12k) at the year end.
The contact address of the connected charity is The Bridgewater Hall, Manchester.
None of the Trustees receive remuneration or other benefit from their work with the Hallé.
During the year and post the year end, Cllr. Azra Ali, Eamonn Boylan and Cllr Janet Emsley were either employees or elected representatives of local authorities which are major funders of the Hallé and with which the Hallé has worked in partnership on Education and Outreach projects.
## 24 CONSOLIDATION OF HALLÉ ENDOWMENT TRUST
The year end for the subsidiary entity, the Hallé Endowment Trust is 31 December. For the purposes of consolidation the results of the Hallé Endowment Trust to 31 March 2024 (12 months) are aggregated into the 31 March 2024 Group financial statements. The fund balances increased by £265k in the 3 month period from 31 December 2023 (£7,498k) to 31 March 2024 (£7,763k) mainly due to investment returns in the period.
## 25 TOTAL RETURN INVESTMENT
Under the powers granted in Section 4 of the Trusts (Capital and Income) Act 2013, a resolution to adopt the total return approach for the Main fund was made by the Trustees on 8 February 2018 effective from 1 January 2017. The Catalyst Fund initially remained under permanent endowment rules as it is an Arts Council based fund and subject to different arrangements from the Main Fund. A proposal to the Arts Council for the Catalyst Fund to be managed on a total return accounting basis was agreed in a Declaration of Trust signed 1 January 2023 and the Trustees implemented this approach for the Catalyst Fund for this financial year ending 31 December 2023.
The Trustees identified the value of the gifts of permanent endowment received since the establishment of both funds and this set the baseline value of the gift component of the endowment to which any subsequent gifts of endowment are added. Within each of the Main Fund and the Catalyst Fund this is referred to as the “original endowment” and forms the initial “Investment Fund”. The difference between the total value of endowment funds and the value of the gift component at the point when total return was adopted represents the opening balance of Unapplied Total Return (UTR) for each fund. The UTR is classed as part of the Endowment fund until it is allocated to income.
57
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## TOTAL RETURN INVESTMENT(CONTINUED)
The power of total return permits the Trustees to invest permanently endowed funds to maximise total return and to apply an appropriate portion of the unapplied total return to income each year. Until the power is exercised to transfer a portion of unapplied total return to income, the unapplied total return remains invested as part of the permanent endowment.
The Trustees decide in each year how much of the UTR is transferred to income funds and so available for expenditure as grants to the Society. In the year to 31 December 2023 the Trustees made a transfer of £229k from the Main Fund and £83k from the Catalyst Fund from the respective UTR in each fund to unrestricted income funds, enabling the making of grants to the Society of £229k from the Main Fund and £83k from the Catalyst Fund. In making this decision the Trustees have taken account of the return on investment for the year, the long-term sustainability of the investment funds after considering various levels of transfer to income and the income needs of the Society.
Under the regulations (Section 4 of the Trusts (Capital and Income) Act 2013) charities have the power to add part of the UTR to the Investment Fund. The amount that can be added annually is capped and is calculated by reference to the increase in inflation and the value of the Investment Fund. The purpose of such a transfer is to maintain the real value of the Investment Fund. The Trustees have agreed that they will consider on an annual basis whether to make such a transfer and that the appropriate inflation index to use is CPI. For the year ended 31 December 2023 the trustees agreed to transfer £101k from the UTR of the Main Fund to the Investment Fund of the Main Fund and not to make a transfer from the Catalyst UTR to the Catalyst Investment Fund. The latter decision reflects the differing reserves policies of the Main and Catalyst Funds – in turn arising from their different duration and background.
The tables below show the breakdown of the endowment funds between the Investment Fund element and the Unapplied Total Return (UTR), firstly for the Main Fund and then for the Catalyst.
These are shown for the year to 31 December 2023 because this is the relevant statutory accounting period for the Endowment Funds. The total value of the Main Endowment Fund at 31 December 2023 is £4,383k of which £2,903k is Investment Fund and £1,480k is UTR. The total value of the Catalyst Fund at 31 December 2023 is £3,115k of which £2,694k is the investment Fund and £420k is UTR.
## Main Endowment
|The investment fund and application of total return to permanent
endowment funds
Opening value of endowment:
Gift component of permanent endowment (incl. £120k instrument)
Unapplied total return
Total
Revaluation reserve – Instrument
Total Endowment 1/1/2023
Movement in unapplied total return and endowment in the year:
Gifts received
Investment return: dividends and interest
Investment return: recognised and unrecognised gain
Investment management costs
Allocations of Unallocated Total Return (UTR) in the year:-
Unapplied total return allocated to income
Unapplied total return allocated to Investment Fund
Net movement in the reporting period
Revaluation reserve – Instrument
Total Endowment movement in year
Gift component of permanent endowment
Investment Fund
Unapplied total return
Total
Revaluation reserve – Instrument
Total Endowment 31/12/2023||
|---|---|
||Trust for
Unapplied
Total
investment
Total Return
Endowment
£’000
£’000
£’000
2,634
-
2,634
-
1,310
1,310
2,634
1,310
3,944|
||184
-
184|
||2,818
1,310
4,128|
||-
-
-
-
143
143
-
387
387
-
(30)
(30)
-
(229)
(229)
101
(101)
-|
||101
170
271|
||(16)
-
(16)|
||85
170
255|
||2,735
-
2,735
-
1,480
1,480|
||2,735
1,480
4,215|
||168
-
168|
||2,903
1,480
4,383|
58
NOTES TO THE ACCOUNTS
(forming part of the financial statements)
## TOTAL RETURN INVESTMENT – CATALYST (CONTINUED)
The investment fund and application of total return to permanent endowment funds
|Opening value of endowment:
Gift component of permanent endowment (incl. £120k instrument)
Unapplied total return
Total Endowment 1/1/2023
Movement in unapplied total return and endowment in the year:
Gifts received
Investment return: dividends and interest
Investment return: recognised and unrecognised gain
Investment management costs
Allocations of Unallocated Total Return (UTR) in the year:-
Unapplied total return allocated to income
Unapplied total return allocated to Investment Fund
Total Endowment movement in year
Gift component of permanent endowment
Investment Fund
Unapplied total return
Total Endowment 31/12/2023|Trust for
Unapplied
Total
investment
Total
Endowment
Return
£’000
£’000
£’000
2,668
-
2,668
-
175
175|
|---|---|
||2,668
175
2,843|
||26
-
26
-
103
103
-
249
249
-
(23)
(23)
-
(83)
(83)
-
-
-|
||26
246
272|
||2,694
-
2,694
-
421
421|
||2,694
421
3,115|
## 26 OPERATING LEASE COMMITMENTS
At 31 March 2024 the total Group and Charity’s future minimum lease payments under non-cancellable operating leases was:
|At 31 March 2024 the total Group and Charity’s future minimum lease payments under|non-cancellable operating leases was:|
|---|---|
|Amounts due within one year
Amounts due between one and five years
Amounts due after five years
**Total**|Group
Group
Company
Company
2024
2023
2024
2023
£’000
£’000
£’000
£’000
19
18
19
18
32
43
32
43
-
-
-
-|
||**51**
**61**
**51**
**61**|
59
SPONSORS, BUSINESS CLUB AND WORKPLACE CHOIRS AT AUGUST 2024
## DIAMOND PARTNER
## MAJOR SPONSORS
With thanks to Manchester Airports Group for 30 years of support.
**----- Start of picture text -----**
19 CHAPMAN HOLMES 88
CATERING & EVENTS OF DISTINCTION
NEW YORK
NORTHERN QUARTER
PICCADILLY
ST PETER’S SQUARE
**----- End of picture text -----**
## HALLÉ BUSINESS CLUB
PLATINUM GOLD SILVER Brother BDO LLP Beaverbrooks Greater Manchester Chamber of Commerce Tony and Daniela Coxon Elcometer Esprit Group Kuit Steinart Levy LLP
## MANY THANKS TO OUR FAMILY OF WORKPLACE CHOIRS
BAE Systems • BASF plc • BDO LLP • Bolton NHS Foundation Trust • Carol Kendrick Centre • The Nightingale Centre The Oasis Centre • Siemens plc • Stockport Council
60
SUPPORTERS AT AUGUST 2024
## **CONDUCTOR’S CIRCLE**
John & Margaret Allen Dr Anne R Fuller Pat Kendall-Taylor Professor Chris Klingenberg Patrick & Tricia McDermott David & Mary McKeith Dr & Mrs Ian McKinlay OBE Penny Moore, for Terry, who loved the Hallé Carole Nash OBE Mike & Joanna Sambrook In memory of Lynne In memory of Alfred & Brenda Burley In memory of Helen Cleary
## **MAESTOSO**
Brian & Valerie Bailey Dr Susan M Brown Mr David A Budgett Mrs S. Davnall Valerie & Peter Dicken Mrs Juliet Gibbs Andrew Hay & Nicola Kitching Mark Kenrick John & Pat Turner In memory of Jennifer MacPherson
## **CRESCENDO**
Mr Jon & Dr Carol Ashley Mike & Ros Barton Richard Binch & in memory of
Audrey David & Maggie Blackburn Mrs Vivienne Blackburn Clair Boyes Dr Christopher Brookes Dr & Mrs Michael & Diana Cavanagh Lawrence David Cody & in memory of Mr & Mrs L. J. Cody Philip Crookall Mr A Fowell Mr & Mrs J. Fox Mr Richard Garnett Chris & Karen Halicki Miss Lynne Hamilton Dr Andrew Hardman Mrs C. A. Harmer Ms Val Hawkin David Haworth Margaret Heaton Mr John Hopwood & Dr Julia Morrison Professor Nicholas & Dr Mary Jones Kenneth Kay Mr Michael Leach Mr Colin Lomax
Dr Alexander Marsland Mr Vincent Marsland Sir Charles Nightingale Mr John D Owens Mr D Pritchard AC & CJ Riddington T. G. Roberts Will Roddy Judith & Patrick Rutter John & Susan Schultz Dieter Senn Mr David Shipley Mrs E. G. Tonge Sheila Tonge Mr John Turner Lynne & Derek Waterfield Philip & Helen Wiles Judi Winterson & David Hoyle Craig & Margaret Wright For music In memory of Brenda Owens In memory of Father David Peters
## **INTERMEZZO**
Dr D Yvonne Aplin Joan Ball Tony Bates Professor Tony Berry Mr Keith A Bevan Mrs Margaret Bradshaw Barbara & Anthony Butcher Jonathan & Elizabeth Clowes Pamela Craig Sarah Crouch Peter J Dawson Mr Anthony Doust Rev’d & Mrs J F Ellis Charlie Fleischmann Ann Flowerday Debbie & Paul Francis Jeremy & Gillian French Mr John Hannah Mrs Bessie Harper Callum Harvey Mr & Mrs D Hawkes Peter & Audrey Hewer Mr Peter Hocking J E Hoffmann & B J Harrocks Chris Hughes, to mark 45 years with the Hallé Choir Mr Simon Hutchence Dr Keith Jeffery & Patrick Geary Mrs Wendy Jeffs Mr J G Knox Mr & Mrs B H Lawrence Mr & Mrs R W Lee Mr Alan Lowe Mr Kevin Lyons Mr T Marsden John & Mary McPeake Stephen & Jacqueline Miley
Mrs Alison Milford Miss Maire Morton John Nickson & Simon Rew Joan & Graham Rogers Dr T & P E Schur Sandra Stone & in memory of Martin Stone Mr & Mrs Suter Phil Thornley Mrs M Warrener Mr J C White Professor Richard Whitley Mr John Wildman In memory of Jean Dowling In memory of Albert Mesrie In memory of Arthur Newton, from his family and friends
## **SCHERZO**
Mr Peter Adamson Mr Timothy R Ades Dr Katherine M Adler Ms Seifa Afiesimama Mrs J Ainsworth Mr Roger Ainsworth Vin Allerton Dr P J Alvey Dr Peter Barberis Mr Michael Barley Mrs J E Baxendale Mr Steve Best Mr D J Bird Mr Stuart Bishop Mr & Mrs E J Booth Dr Howard Booth Mr David Bradley Arnold & Brenda Bradshaw Philip Broughton Mr Andrew Bryan Peter Burgess Tina Bywater Miss Christine S Catherall Mrs B Y Chubb Mrs Kathleen Cleary Mrs Gina Collison Mr David Cooke Mrs Frances Critchley Mr John Critchley Hilary & Adrian Curtis Mrs J D Darwent Dr D Dawson Dr Jeffrey J Dean & Dr Penelope M Gouk Mr & Mrs B A DeSousa Mrs Marie Dixon Mr Paul Durham Mr E Alan Eaves Chloe Eissa-Hoyos Miss E Evans Professor Patrick Farrell David Farrow
Mr Alan Freeman Dr Tim Gartside Mrs Elaine M Gavin Mr Adrian Gerrard Mrs J Gill Mrs Mary Glynn Mr Christopher Grafham Mr & Mrs R Green Mr & Mrs S R Lancelyn Green Mrs Caroline Greenwood Mr John D Gregory Dr R Gregory Mr J B Haddow Dr I M Hall Paul & Amanda Hamblyn Mr C W Hampson Brian & Bridget Harris Mr Simon Harrison Patricia Hart Mrs J M Hartley Mr N V Haynes Mrs Dorothy Heaton Mr Cliff Heckle Donald & Carolyn Henderson Mrs G Hewitt Miss Pauline Hickey Mrs Sheila Hill Peter & Charlotte Hill Mrs J M Hindshaw Mrs Janet Holwill Dr W Hoyle Mrs Glynys Hunter Dr Steven Hurst Joyce Hytner Alma Jones, & in memory of Frank David & Fae Jones Christine & Michael Jones Mr Trefor Jones Miss Brunhilde Kay Clare Knight Jennifer & Paul Lingwood Mr Harry Lipson Mrs Dorothea Livesey Virginia & Peter Lloyd Mr F P S & Mrs D A B Marriott Dr & Mrs P J Marriott Mr P Marsh & Ms H M Bennett Mrs C Mason Dr Michael Mattison Mrs E McCrone Mrs Angela McMenemy Dr David Miers Mr David Milner Mr Jeff Milner Mrs Jean Moorhouse & in memory of the late Mr Peter Moorhouse Ms Kathleen Morris Miss Jean Motler Mr P K Murphy Mr David Odling Mr & Mrs Damian O’Doherty
61
SUPPORTERS AT AUGUST 2024
William & Janet Ollier In memory of O Calvert Mr John Peaker In memory of Mr Tom Chadwick Dr John Pearson In memory of Liz Glynn David & Elizabeth Pioli In memory of D S Goodes Mr D Radley In memory of Dr D B Jones Mr Peter Ramsden In memory of Meinir McDonald Mrs Beryl Ratcliffe In memory of Patsy Pringle Kathleen & Alasdair Renfrew In memory of Dr Barbara Smith Angus & Jenny Reynolds In memory of Arthur Stanley Mr Paul Reynolds Thompson David & Elly Roberts In memory of John Wallace Tonge Elizabeth & Hugh Roberts Mrs A Rose Mrs Susan Rowlands Professor Michael G Rusbridge Mr D. S. John & Jackie Say Mrs Jan Schofield Mr James A Scott Mr Simon Shelbourn Mr C & Mrs T Shepherd Mr Michael J Shiels Mr & Mrs G R Slater Charles & Helen Smith Mr & Mrs C Smith Mr Roger Smith Mr Alan Spier Mr & Mrs R T Stafford Stephen Stockton Mr Frank Stoner & Mrs Margaret Dudley-Stoner Mrs Norma Swan Mrs M. E. Thompson Mr John Thomson Mrs Jean Tracy Tom Uprichard Mrs Barbara Upton Mr Peter & the late Mrs Diana van der Feltz Jeffrey & Judith Wainwright Mr Brian Walker Mr R B Walsh F T Walters Mrs Anne Ward Mr & Mrs J M Watson J Christopher Whitehead Mr A Whittaker Gladys Williams & in memory of Dennis Dodge Mr Thomas Williams Ron Wilson Barry Wood Hilary & the late Noel Woodhead Mrs Ann Woolliscroft Dr J M Worth D & M Wright David & Veronica Yates Dr David Yorke A music lover In memory of my parents In memory of Margaret Brailsford
62
## SUPPORTERS AT AUGUST 2024
The Monument Trust The Oglesby Charitable Trust
Esmée Fairbairn Foundation The Foyle Foundation Granada Foundation Garfield Weston Foundation The Kirby Laing Foundation The Liz and Terry Bramall Foundation The National Lottery Heritage Fund Paul Hamlyn Foundation The Victoria Wood Foundation The Wolfson Foundatioxn The Zochonis Charitable Trust
29th May 1961 Charity The Band Trust The Beaverbrooks Charitable Trust The Boris Karloff Foundation Boshier Hinton Foundation Church Burgesses Educational Foundation D’Oyly Carte Charitable Trust Duchy of Lancaster Benevolent Fund DWF Foundation Fenton Arts Trust Fidelio Charitable Trust Garrick Charitable Trust The Gisela Graham Foundation The Grand Trust CIO The Greater Manchester High Sheriff’s Police Trust The Harding Trust The Ironmongers’ Company John Horniman’s Children’s Trust John Thaw Foundation The Irving Memorial Trust Land and Co Foundation The Lee and Barkirgian Family Trust McLay Dementia Trust N. Smith Charitable Settlement The Nugee Foundation Peter Cunningham Memorial Fund Cecil Pilkington Charitable Trust Pilkington General Charity Q Charitable Trust The Radcliffe Trust Rainbow Dickinson Trust The R K Charitable Trust RUSI (The Royal United Services Institute) Sir George Martin Trust Sale Mayoral Fund The Sobell Foundation The Thistle Trust Thriplow Charitable Trust and others who wish to remain anonymous
## **HALLÉ FAMILY OF BENEFACTORS**
Mrs A. Alford Mr C. K. Andrews Mr and Mrs Black In Memory of Rabbi Felix Carlebach from his family, friends and supporters Pamela Cate Mr Peter Copping Miss Rebecca Louise Finch Mrs Vivian Glass Mr Harry Johnson Mr A. and the late Mrs A. Johnson Kenneth Kay Mr C. H. Pooley Brian and Glenna Robson Bernadette Rudman Mr and Mrs R. P. Shepherd JP DL Lynne and Bob Spencer Mr and Mrs Brian Tetlow
## **HOLDERS OF THE HALLÉ SILVER MEDAL**
## **FOR PHILANTHROPY**
John & Margaret Allen Stewart Grimshaw Michael and Jean Oglesby Terry and Penny Moore Arthur Reynolds Jurgen Maier David McKeith Stuart Robinson Robin Phillips
## **2058 FOUNDATION**
PRINCIPAL BENEFACTORS Manchester Airport Mr Martin McMillan obe and Mrs Pat McMillan The Oglesby Charitable Trust Fred Nash and Carole Nash obe Tiger Developments CIM Investment Management Ltd DLA Piper LLP Rothschild MAJOR BENEFACTORS Peter Heath David and Mary McKeith Brother (UK) Ltd PZ Cussons plc Nigel Warr David Wertheim and Family Kirby Laing Foundation Kobler Trust Martin and Jacqueline West The 2058 Foundation is a restricted fund of the Hallé Concerts Society established in the Hallé’s 150th Anniversary year to support specific artistic and education projects.
## **SUPPORTERS OF THE OGLESBY CENTRE AT HALLÉ ST PETER’S**
The Oglesby Charitable Trust The Monument Trust The Dunard Fund The Foyle Foundation Garfield Weston Foundation Granada Foundation The Kirby Laing Foundation Victoria Wood Foundation The Wolfson Foundation and all those who supported The Oglesby Challenge and those who wish to remain anonymous
## **AMERICAN PATRONS**
Caroline Firestone Rita Z. Mehos Christa Percopa Arthur Reynolds Annette Vass
## **LONDON PATRONS**
Joyce Hytner John Nickson and Simon Rew
63
MEMBERS OF THE HALLÉ CONCERTS SOCIETY AT AUGUST 2024
Dr John Ackroyd Mr T. Carr Mr Paul Adkins Ms Annabel Carter Miss M. Adshead Mr Jon Cartmel Mr R. Aitchison Mrs Pamela A Cate Mr Mohammed Amin Miss Christine Catherall Mrs Gerlinde Anten Mr J. Chadwick Mrs Dorothy Aplin Dr Austin Chambers Mrs Janet Aslan Dr G. Christie Mr M. Baggott Mrs F. Christou Ms Elaine Bagley Mr Stuart Clark Mr & Mrs B Bailey Mrs Janet Clark Dr Peter Barberis Dr Joan Clarke Dr Roger Neil Barton Mr M. Clayton Dr A. Basey Mrs Kathleen Cleary Lorna Beacock Mr Lawrence Cody Dr Robert Beale Mr E. Coldrick Mr Patrick Beesley Miss P. Coley Mr R. Behrend Mr Alex Connock Mrs Alison Bell Mrs Pauline Coombs Mr Gordon W Bell Mr Jim Cowell Mr Martyn Bennett Mr Martin Cox Mr Neil Bennett Ms Pamela Craig Dr Eileen Bentley and Helen Lennie Mrs Margaret Croker Mr I. Berridge Mr Philip Crookall Professor Anthony Berry Ms Sarah Crouch Mr Duncan Berry Dr C. Cundy Mr John Biggins Mr M. Cunningham Mr A. Birch Mrs Pamela Cunningham Mrs Ann Birch Dr Ian Curbishley Mr D. Bird Mr D. Dale Mr Michael Birkett Mr N. Daniels Mr & Mrs L. Black Mrs Kathleen Davies Mrs Helen Blackburn Mr G. Davies Mrs S. Blake Miss E. Davis Miss J Blanksby Mrs Sarah Davnall Mrs S P Boffey-Longworth Mr Peter Dawson Mr Clive Bond Mr Alan Dean Mr Martin Bond Mr D. Dearden Mr A. Booth Mr D. Delahunty Mrs Nora Booth Mr B Desousa Mr John Bowden Prof Peter Dicken Mr David Bradley Rev H Dickinson Mrs Margaret Bradshaw Mr John Dickinson Mr David Brailsford Mrs Lynda Dobbie Mr Mark Brailsford Mr A. Dorney Mrs P. Brannon Mr Darren Drabble Miss M Bridge Mr S. Dugdale Ms Elisabeth Bridgford Mr James Dunn Dr Patricia F Brien Dr Paul Durham Mr Edwin Brockbank Mrs Valerie Edminson Dr Christopher Brookes Dr D. Edwards Mr Philip Broughton Mr John Edwards Mrs Gwyneth Brown Dr Francisco Eissa Barroso Mr Martin Brown Dr Rosemary Ellerby Mrs Maxine Buchanan Mrs Beryl Emery Mr David Burgess Mr David Emery Miss Tracy Burns Janet Emsley Mrs J. Burslem Mr J. Evans Mrs Deborah Butterworth Jane Fairclough Mr Peter Cameron-Brown Professor Patrick Farrell Mrs G. Campbell Mr David Farrow
Mr J H Fisher Mr Norman Fitt Mr B Fitton Mrs Evelyn Flett Miss Beryl Footman Miss Margaret Forster Mrs Monica Foster Rev K Foulkes Mrs Eileen Fox Mr John Fox Mr Alistair Fox Mrs A Rita Fox Mrs C. Frieze Mr J. Froggatt Mrs Barbara Fryers Dr Anne Fuller Professor John Garside Ms Karen Gedd Mr J. Geddes Dr Geoffrey Gee Mr Adrian Gerrard Miss Daphne Gifford Mrs Kathleen Gildon Dr D. Gillibrand Venerable R. Gillings Mrs Sylvia Gilmore Mrs S. Gledhill Miss G M Glover Mr I. Glover Mr Martin Glynn Mrs Barbara Goodall Mr Keith Gorton Mrs Rhoda Gouldsbrough Mrs Evelyn Grafham Mrs Margaret Gray Mrs V Graystock Mrs Linda Green Mr Ronald Green Mrs Audrey Green Mr Neil Greening Mr Michael Greenwood Mr J. Haddow Dr I. Hall Mr David Hall Mr Gordon Hall Mr M Hall Mrs Valerie L Hallam Mrs Y. Hallworth Mrs Clare Hambleton Mr C. Hampson Mr P. Hampson Mrs Jane Hampson Mr Colin Hankey Roger Hardcastle Mr E. Hardman Ruth Harkin Mrs Helen Harrington Richard Harrington The Venerable R. Harris Mr David Harrison Mr Graham Hart
Mrs Ann Hart Mr Callum Harvey Dr Joan Hassall Ms Val Hawkin Mr David Haworth Mr Russell Haydon Mr Richard Hayes Mr Peter Heath Mr Peter Hesham Mrs Barbara Heywood Mrs Jennifer Hindshaw Mr D. Hines Mr Nicholas Hodgson Mrs Moya Hollinrake Mr N. Holt Mrs E. Holt Mr Michael Hosker Mrs Valerie Hotter Mr James Howell Dr W. Hoyle Mr J. Hoyle Mrs J. Hudson Mrs C. Hughes Mr David Hughes Mrs Glynys Hunter Mrs A. Hurrell Mrs Kathleen Hurst Miss Judith A Hutton Mr John Hytner Mrs Helen Ireland Mrs Sylvia Isted Miss Carol Jackson Mrs Freda Jenkins Mr Steven Jennings Dr Richard Johnson Mr Derek Jones Mr P. Jones Mr Trevor Jones Dr David Llewellyn Jones Mrs A. Jones Mr G Jones Mr Trefor Jones Miss Shirley Jones Mr Kenneth Kay Mr David Kay Mr Martin Kay Mrs J. Kaye Mr Stuart Kempster Mrs Angela Kendrick Mr W. Kerr Mr J. King Harry Kippax Dr H J Klass Mr R. Kletz Mrs Diana Kloss Mr John Knox Mrs Audrey Lamb Dr Deborah Larah Mr Michael Leach Mr Charles Ledigo Mrs Jane Lee
64
MEMBERS OF THE HALLÉ CONCERTS SOCIETY AT AUGUST 2024
Mr Richard Leigh Dr Roger Parr Mrs Judy Spencer Mr David Lewis Mr L W S Parry-Williams Mrs Susan Stamford Mrs W Leyden Mr D. Parsons Mrs C. Stead Ms M. Linton Professor David Parsons Mr B. Stickings Mr G. Lipschitz Mrs A. Peach Mrs Sandra Stone Mrs M. Lloyd Alan Pearce Miss Margaret Stordy Miss C. Lloyd Mr Robert Pearson Mr P. Stott Mr M A Lloyd Mr Roger Pearson Dr & Mrs Ian Stout Dr Denise Lomas Mrs Annette Percy Mr D. Swindell Miss Stella Lowe Mr D. Pettifor Mr J. Syner Mrs Olive Lumb Mr Neville Phillips Mr Shefali Talukdar Henry Mr I. MacKay Mr John Phillips Mr David Tatlock Professor Sir Netar Mallick Miss Gwen Pickford Mrs J. Taylor Mrs P. Mann Mr & Mrs D. Pioli Mr M. Taylor Mrs B. Marples Mrs M. Pritchard Mrs M Taylor Michael Marsh Mr Frederick Purslow Miss W. Taylor Mr J. Marshall Shaw Mr Edward Pysden Mr Ian Taylor Mr M. Masters Miss Moira Rabbitt Mr D. Taylor Mr A. McAllister Mr P. Radnan Mr Ian Taylor Mr Martin McDonald Mr Brian Rains Mrs J. Taylor Mr Peter McIlwham Dr B S H Rarity Mr Mike Taylor Mr Robert McIntyre Dr Graham Read Dr C. Terrell-Nield Mr David McKeith Dr G. Rees Mr C. Thickett Mr Martin McMillan Mr Michael Rhatigan Mrs P Thompson Ms Jennifer McNamee Dr Jennifer Rich Mr John Philip Thornley Mrs Shirley Meadowcroft Mrs Mavis Richardson Mrs Madge Thornton Mr R. Merry Mr Victor Roberts Mr G. Thornton Mrs June Messenger Mr Terence Gordon Roberts Mr John Throup Mr Richard Middlehurst Mr Stuart Robinson Mr D. Tickle Mr S. Miley Mrs J. Roper Mrs Margaret Toft Mrs Kate Mollo Mrs A. Christine Rose Mrs Elizabeth Tonge Mr Rodney Mollo Mrs G. Ross Sir Simon Towneley Dr Brian Molyneaux Mr Roger Rostron Mrs Susan Tully Dr Andrew Moore Mrs E Rowland Mr John Turner Mrs Penny Moore Ms Bernadette Rudman Mr John Turner Mrs Jean Moorhouse Ms Katharine Russell Mr T I Uprichard Mr Philip Morey Miss M. Ruxton Mrs Carol Anne Wafer Mr S. Morley Mr Andy Ryans Mr Donald Wagstaff Mr J B Morrell Miss E. Ryner Mr Ian Wallace Mr George M Morton Mrs Jennifer Sandland Mr John Walsh Miss J. Motler Mrs Karen Sandler Mr D. Walton Mrs J Winterson Mr Christopher Sargent Mr J. Watson Mrs Christine Muller Mrs Margaret J Scott Mr D. Watson Mrs E. Mulliner Mr James Scott Merryl Webster Mr P. Murphy Mr Derek Seex Mrs Wendy Westoby Dr Nayyar Naqvi Ms Pam Senior Mrs Sybil Westwood Mr Michael Neale Ms Philippa Sharp Charlotte Westwood Mr Jeremy Nolan Mr David Shearing Mr John Whibley Mr W. Norbury Mr David Shepherd Mr J. White Miss F. Nutt Mr Michael Shipley J Christopher Whitehead Mr David Odling Dr David Shreeve Mrs Rosemary Whitesman Mrs Margaret Odling Mr Christopher Simon Richard D Whitley Mrs Jean Oglesby Mr Bryan Simons Mr G Whittle Mr D. Oglivy Mr Antony Slater Ms Josephine Wiggans Professor Pedro Oliveira Mr Clive Smart Mr John Wildman Mr Martin Olley Mr F. Smith Mr Roger Williams Mr A. Openshaw Sir Warren Smith Mr Thomas Williams Miss Christine Owen Mr D. Smith Mrs Margaret Williams Mr Geoffrey Owen Mr Charles Smith Miss W P Williamson Mr John Owens Miss Pauline Smith Mr R. Willis Miss Barbara Pape Mr Bob Spencer Mr T Windsor
Mr P Wolstencroft Mr A. Woods Miss Anna Woolley Mrs Ann Woolliscroft Mr Jeffrey Worden Mr Peter Worrell Miss Myra Worsley Dr J. Worth Mr Norton Wragg Dr David Yorke Dr R. Yule
65
## PLAYERS AT AUGUST 2024
## FIRST VIOLINS
Roberto Ruisi leader Emily Davis leader Sarah Ewins associate leader Tiberiu Buta Zoe Colman Steven Proctor Helen Bridges † Nicola Clark † Victor Hayes † John Gralak † Michelle Marsh † Katie Jackson Eva Petrarca Dylan Edge
SECOND VIOLINS Marie Schreer
section leader Paulette Bayley Rosemary Attree Caroline Abbott † Grania Royce † Christine Davey † Elizabeth Bosworth † John Purton Yu-Mien Sun Heather MacLeod
## VIOLAS
Timothy Pooley †
section leader Julian Mottram † Martin Schäfer Piero Gasparini † Robert Criswell † Gemma Dunne † Chris Emerson † Cameron Campbell Victoria Stephenson
CELLOS Simon Turner Dale Culliford † David Petri † Jane Hallett Clare Rowe Paul Grennan Jonathan Pether Lucy Arch
DOUBLE BASSES Billy Cole
section leader Daniel Storer Yi Xin Han † Beatrice Schirmer † Rachel Meerloo Natasha Armstrong
## FLUTES
Amy Yule section leader Sarah Bennett
OBOES Stéphane Rancourt section leader Virginia Shaw †
COR ANGLAIS Thomas Davey †
CLARINETS Sergio Castelló López section leader Rosa Campos-Fernandez
BASSOON Elena Comelli CONTRABASSOON Simon Davies
## HORNS
Laurence Rogers †
section leader Matthew Head Julian Plummer † Richard Bourn † Andrew Maher
TRUMPETS Gareth Small †
section leader Tom Osborne
TENOR TROMBONES Katy Jones section leader Rosalyn Davies †
TUBA Ewan Easton mbe †
TIMPANI John Abendstern
PERCUSSION David Hext †
section leader Riccardo Lorenzo Parmigiani † Erika Öhman
HARP Marie Leenhardt †
66
## ORCHESTRAL CHAIR ENDOWMENTS AT AUGUST 2024
## CONDUCTOR EMERITUS
SIR MARK ELDER CH CBE Mr Martin McMillan obe and Mrs Pat McMillan
CHIEF EXECUTIVE DAVID BUTCHER Hamish and Sophie Forsyth
LEADER
ROBERTO RUISI Penny Moore
ASSISTANT CONDUCTOR, EUAN SHIELDS PZ Cussons, Sir Mark & Lady Elder, the Fenton Arts Trust, Fidelio Charitable Trust
CHORAL DIRECTOR, MATTHEW HAMILTON In memory of Alison Wilkie-Davies
## FIRST VIOLINS
SARAH EWINS Elaine and Neville Blond Charitable Trust
TIBERIU BUTA Dr Anne R Fuller
ZOE COLMAN John Geddes
POSITION VACANT In memory of Jennifer MacPherson
POSITION VACANT Mrs Vivienne Blackburn for Michael
HELEN BRIDGES Professor Chris Klingenberg
POSITION VACANT In loving memory of Kaye Tazaki, from his family and the Hallé
KATIE JACKSON Philip & Helen Wiles
## SECOND VIOLINS
MARIE SCHREER Patrick & Tricia McDermott
PAULETTE BAYLEY Karen Farquhar
ROSEMARY ATTREE In memory of the late Marie and Jack Levy
CAROLINE ABBOTT Peter and Mary Jones
JOHN PURTON In loving memory of Michael Hall
## VIOLAS
TIMOTHY POOLEY Dr Susan M Brown
MARTIN SCHÄFER David and Beryl Emery
PIERO GASPARINI Mrs Jane Fairclough
CHRIS EMERSON Bolton Opus Group
GEMMA DUNNE In memory of Diz Shirley and happy days at Chipping Camden
## CELLOS
PRINCIPAL, POSITION VACANT Sandra Stone and in memory of Martin Stone
SIMON TURNER In memory of Mrs G E Whitehead DALE CULLIFORD Prestbury Opus Group
DAVID PETRI K and S Coen
JANE HALLETT Professor Sir Netar Mallick
CLARE ROWE Nina Harris
JONATHAN PETHER Charlotte Westwood
POSITION VACANT In loving memory of Dorothy Hall
## DOUBLE BASSES
BILLY COLE Edmundson Electrical Ltd
YI XIN HAN In memory of Stella and Harold Millington
NATASHA ARMSTRONG John and Pat Garside
RACHEL MEERLOO In loving memory of Hilmary Quarmby, a lifelong lover of music and friend of the Hallé
DANIEL STORER Jonathan Clowes
## FLUTES
AMY YULE Mr Peter Heath
SARAH BENNETT In loving memory of Mrs Anna Drackley
## PICCOLO
JOANNE BODDINGTON In memory of Ronald Marlowe
## OBOE
STÉPHANE RANCOURT Paul Brooks, retired Chair of the Barbirolli Society
VIRGINIA SHAW Alison Wilkinson
## COR ANGLAIS
THOMAS DAVEY In loving memory of Douglas Crawford
## CLARINET
SERGIO CASTELLÓ LÓPEZ The Hallé Choir
## BASS CLARINET
POSITION VACANT Shared Trust
BASSOONS
PRINCIPAL, POSITION VACANT In memory of Miss Amy Alexandra Morris
ELENA COMELLI Anonymous
## HORNS
In memory of Arthur Bevan and Enid Roper
LAURENCE ROGERS In memory of C K Andrews
JULIAN PLUMMER Sir Warren Smith RICHARD BOURN Shared Trust
## TRUMPETS
GARETH SMALL Shared Trust POSITION VACANT Shared Trust
TOM OSBORNE Penny Moore
## TROMBONE
KATY JONES Sylvia Kendal in memory of Ivor Rowe
## TUBA
EWAN EASTON In memory of Carol Ray
## TIMPANI
JOHN ABENDSTERN In memory of Alan and Vivian Glass
## PERCUSSION
DAVID HEXT Rosemary Whitesman ERIKA ÖHMAN In loving memory of Jim Russell rba;
HALLÉ YOUTH ORCHESTRA
BASSOONS Mr C R and Mrs E Anslow PERCUSSION I & E Brett
CELLOS
The Holland-Frickes Mr John Summers obe
WOODWIND AND CELLOS In memory of Peter & Helen Pearce Anonymous
HALLÉ YOUTH CHOIR SOPRANOS AND ALTOS Mr and Mrs Smith
HALLÉ CHOIR Jane Hampson ALTOS Chris Hughes
Sincere thanks also to those who have made donations to the Chair Endowment programme during the recent months.
67
## ≥ CHOIR AT AUGUST 2024
Tracey Adlem Elizabeth Alberti Peter Aldred Lizzy Allerton Vin Allerton Thom Andrewes Christopher Ashfield Dawn Ashworth Laurie Bailey Charlotte Ballard Jonathan Barber Jennifer Barnes Barbara Barratt Ellie Baxter Alice Beckwith Natalie Bennett Jami Bennett Steve Best Paul Beswick Joshua Blunsden Paul Brennan Ruth Broadfield Maryna Brochwicz- Lewinski Sophia Brown Joanna Brown Rachel Brown Sarah Bunting David Burgess Thomas Burrow Grace Card Rémi Castaing Xander Castle-Bradley Katy Cavanagh Yu Chinen Jamie Choi Martha Clayton Rowena Cockerham Jacob Coley Elizabeth Conway Jim Cowell Merel-Magali Cox Ian Critchley Claire Croft Georgina Crosswell Ildiko Csige Roger Darling Daphne Dawson Ian Dayes Victoria Denard Ted Downer-Wills Jonny Downing Ben Dunsmore Molly Dyer Linda Edmondson Grace Edwards John Elliott Christopher Elliott Elaine Evans Catherine Evans David Evans Gill Faragher
Stuart Fielding Charlotte FitzGerald Yvonne Flood Tony Flynn Tamandra Ford Katherine Foxall Kate Fuggle Claire Garety-Govind Gillian Gibson Rachel Glascott Oliver Gorton Leah Greaves Chris Green Judith Greenwood Darcey Durham Grigg Rachel Grimshaw Tom Guest Tim Hammond Claire Harbourne Sarah Harding Emelie Harding Jackie Harmer Jessica Harper Sally Harris Alice Henery Ellen Heslop Owen Hewson Tara Hill Eleanor Hobbs Carys Holden Sara Holroyd Chris Holroyd Charlotte Hopkinson Rachel Hopper Christopher Hopper Chris Hughes Martha Hulme Sara Humber Eleanor Jackson Ella Jackson Mimi Johnson Glesni Jones Ruth Jones Rhiannon Jones William Jowett Graham Keen Mairead Kelly Fiona Kennon Rob Kerr Paul Kilbey Clare Knight Amoah Koranteng-Addo Anna Korbel Magdalena Kowal Humphrey Kwaah Po Lin Lai Jocelyn Lavin Eileen Lee Emily Ley Jen Liem-Hewitt Virginia Lloyd
Alison Lloyd Williams Katharine Longworth Liz Lord Larissa Lourenço Jenny Lucking Hector Macandrew Neil Mackenzie Clare MacKinnon Alexandra Maliphant Joseph Martin Sammy Matthewson Olivia May Bethany May Áine McCarron-Shipman Sue McKinlay James McLean David Metcalfe Isabelle Milner Kate Milner Rebecca Montgomery Daisie Moore Myome Mortimer-Davies Gay Morton Helena Morwood Emma Mulvany Anya Munro Elizabeth Murray Andrea Murray Jeremy Nelson Judith Newton Max Noble Susan Oates Annabel Ohene Alexander Oldroyd Rémy Oudemans Barbara Oxley Alessandra Palidda Meg Parnell Angela Partington Judy Paskell Andrew Paterson Abi Paton-Perry Stuart Perkins Jo Pink John Piper Alison Playfoot Eugene Pozniak Tessa Quayle Oliver Railer Maureen Rammell Lorna Reader Libby Reeve Sax Rendell Jemima Richardson-Jones Marion Ridd Cathy Riddington Eirwen Roberts Laura Roberts Olivia Robinson Annie Rogers Graham Rogers
Caragh Rooney Colin Scales Elizabeth Scott Imogen Scoular Katherine Seddon Jo Sharples Jenny Sherwood Kathryn Smethurst Anthony Smith John Smith Helen Smithurst Iryna Sokirko Nigel Spooner Jamie Steele Charlotte Stevenson Sue Stirzaker Dorothy Stoddard Nigel Stones Anna Strowe Sidarth Surya Sara Szabo Ruth Taylor Sarah Taylor Anna Thomas Kirsty Thorpe Hannah Thorpe Cliff Tinker Rob Tolefree Jean Tracy Damson Tregaskis Wendy Walker Rowena Ward Merryl Webster Charles Whelan-Hicks Rebecca White Maeve Whittaker Roger Williams Jill Wills Nicola Wilson Thomas Winstanley Elinor Wolstenholme Ian Wood Rebecca Woolley Angus Yardley Crystal Lok Man Yu
CHORAL DIRECTOR Matthew Hamilton ACCOMPANIST David Jones VOCAL COACH Margaret McDonald VOCAL COACH Richard Strivens ASSOCIATE HALLÉ CHOIR DIRECTOR Fanny Cooke CHAIR Elizabeth Allerton SECRETARY Sammy Matthewson TREASURER Steve Best
68
## ADMINISTRATION AND CONTACT INFORMATION AT AUGUST 2023
**PRINCIPAL CONDUCTOR AND ARTISTIC ADVISOR** Kahchun Wong
**CONDUCTOR EMERITUS** Sir Mark Elder ch cbe
**ASSOCIATE CONDUCTOR, POPS** Stephen Bell
**ASSISTANT CONDUCTOR**
Euan Shields
**CHORAL DIRECTOR** Matthew Hamilton
**YOUTH CHOIR DIRECTOR** Stuart Overington **YOUTH TRAINING CHOIR DIRECTOR** Matthew Roughley
**CHILDREN’S CHOIR DIRECTOR** Shirley Court
**COMPOSER EMERITUS** Colin Matthews
**ARTIST-IN-RESIDENCE** Thomas Adès
## **CHIEF EXECUTIVE’S OFFICE**
David Butcher * Linzi Watts
**FINANCE** Natalie Atkinson Matthew Wyatt Curtis Dixon Nicky Patel
**VENUES** Martin Glynn * Tyrone Holt Imogen Fahey David Barker Liam Burke Karon Knapman
**ARTISTIC PLANNING** Anna Hirst * Louise Hamilton Andrea Stafford Sue Voysey † Tamzin Aitken
## **SPONSORSHIP AND FUNDRAISING**
Kath Russell * Eleanor Roberts † Caragh Rooney Louise Harvey Beth Wright
## **COMMUNICATIONS AND DIGITAL**
Bonnie Turnbull * Peter Naish † Liz Barras Anna Shinkfield Harriet Hall † Alex Burns David Hughes
## **ARCHIVE**
Eleanor Roberts † Heather Roberts Charlie Booth Harriet Hall † Stuart Robinson †
† 20 years service
* HEAD OF DEPARTMENT
**CONCERTS** Jenny Nicholls * Lucy Turner Hannah McGuire
**GENERAL ENQUIRIES** info@halle.co.uk
**www.halle.co.uk**
**ORCHESTRA MANAGEMENT** Chris Lewis
**LIBRARY** Louise Brimicombe Emily Crichton
**STAGE MANAGEMENT** Dan Gobey Lawrie Bebb
**HALLÉ CONNECT**
Naomi Benn * † Clare Webster Jessica Harper Jodie Buckland Alex Munro Rosie Sutton Rachel Graff
69
Follow us:[the_halle • ] thehalle •[TheHalleOfficial • ][the_halle • ][the_halle]
71