REGISFERED COMPAf4Y NIIMBEIL- (￿3?1316 (EttEknDd and W8les) REGISTERED CHARITY NUMBER: 250921 REPO T OF THE TRUSTEES AP4D UDITED FIP4ANCIAL sfATEM R THE YEAR ENDED 31 MARCH 2024 PHILH RMONIC SIKIETY LTD Ch*Éot Hwse Limited Brightsm Fast Su&sLx VE PHILHAR￿m NIC SoCI￿LL￿ BR1GTrITO.NAm￿ .. . oNTE￿I￿￿LHE FIY¢lYCI.4L STATEMEPffS FOR THE I'EAR EYDED31 MAR H 2024 Chairmall's Rep)rt Report of th¢ Trnstees 3 10 12 Indtpendtnt Eiaminer's Report 13 StaterneDt of finantiAI AetivitKs 14 BAlY4ne¢ Shttt 15 to 16 C¥h Flow Statemettt 17 Nott5 to the C&sh Flow Ststement Notes to the fiN#tt¢tsl Stattmtllts 19 10 26 BRIGHTON & H VE PHILHAIi MAN'S REPORT FOR THL YEAR EI¥4DED ARCH 21124 This ycar made a cow10t￿ (kCE￿On ￿ gear up for our r£nt¢nar)' in our 99th 8e&wn. This has tYtKJuced a 'onderfull)' divetse and ambitious for Brighiffl. B). far ow tDoA ambitio￿ prO￿￿me for many ye￿¥ included corK•ts thai r(Thsed ￿ a rang¢of¢(￿￿￿ttS wagner￿ It is otsr third s¢asm with music dire(J(r Joanna M&Gre8or at heltll we C{Miill￿ SJW￿fiE1lY devcloping the visibility and repwion of the orcheth Not Imlv has the orc*estrn ￿￿er1#¢d fr￿n J03mia's 1￿C[ShIp blli alw from her brilliani musicianship. This h&s séyn her ccntsc stage in m￿). of ow LlTh*tts featuring &s a soloist perfonning Ger5hwin's Piano Conc¢rto iTr F. Arvo VJJt's La￿ern￿￿ atml Spiegel in Spiegel alongside Ifaikr Ruth Roger4 works by Sakamo¢o. and her a]bum tkrp Rivcr with ANJY Alon￿11￿ thi& sh¢ ￿nth￿kd concests &8 diverse&s Sid¢walk DarKe58t￿ Mighty Rtvcr. Ce1th￿ing WomoL (kn progrdmme &)niinue5 kn grow the q￿lity of the ￿che￿.5 ptrr0nnaT￿ This is in PHrt a resuli of often doubling hear5aJ time before e¥h rwl¢ing in excq￿￿￿1 t￿rf¢xm#[￿Zs ofthc most cTrdlenging work. We opened to a very encowing and enthusaasti¢ a￿j1￿￿e for OLtr first cotKTn featUTing the music of Bern5teii CJ¢r5hwin. Ivts aThl Adatns. (￿r Lovemusit £12 tickcts a fant&4iC of ￿￿k-up aLvJie]tr with the feel gtyjd factorof Bun*in'5 Symph(xJic DwKYs from West Side sÉ#ti]￿ tht. vne for the rest of the Our next concert focused on the music of j(￿[￿￿5 arrangments of cult Mfy)ndo¥5 danc¢5 that bring u5 a unique s(MJnd of swing and concert dmv an audiLmce of l(Kh) and feawjul awlwmed ja72 soloists including one of the UK'5 besL-knoMm pl8ya& s&xotAJonia ATrJ) sly￿ tkspite being tKrhaps a fringe figure in the bla&siul ii'odd, th¢ event brought in a ]arge mv a￿llence f¢A the orchtstrn ￿ well as delighting existing audienc￿ with M(M)ndog'senthr￿l¥n8 mw. Our Winter 8015¢ire concert suc¢essfv]Iv uni*d all audiLiJces Fffinging ￿gethLy the wmp05tr Arvo part atmi blending th¢ mort familiar thrwgh Silrlius, se£otx5 symphon).. This drem. the iargcst alldience of the se&4)n outside or the New Yfarf5 Eve Gai& In tkcemtr*r we cimtinued new tswJilioTh of r*rfiwming a semi-st8ged version of 8 ChTiStma8 Carol with the brdss of BPO. Unfortunately, covid St￿￿k s￿l31 fraturoj guest a*or Pip Torrvttk Thamkmly Paul Ryajj stepFKd in at the last minuk al￿ with gr￿ sucw. We a]sA) Dir¢L%or Richa￿ Williams fur his tscelleni s￿Bin Continu>J stXSOtJ highlights includ￿1 a sy)I&oLrt New Yeats Eve vienT￿se Viith Wdno Lllie Laugharne. We did o day5 of rehLw5￿ ￿1th n￿1> IIXI pla)'eTS 0￿￿age for the epi¢ & VIiKg¢r adaptstion of Wwetr5 Rin& We wer¢ extremel} excited io eXperier￿ tA)m@s b￿1]fiLlI}. r¢fvEbishtuI Corn LxLhange for The Soldierfs Tale again direckd wonderfully bv IknLhard Williams a¢bJ featuring knlliant Aliwir &s tkvil. Iniernationaj Women'5 Day w&8 celelK¥t¢d by ￿ I*￿48ndIng contat f¢thriThg music by ciKnrM)scts and FA)Ioi Ayanna Wiuer-JdM]5t(xJ. Ourse&on fiT* brwght an iTL¥Jiiing pTogrthnmeol BriltWL TveilL Sak8moto gryj Debu55y. Thi8 wonderful Seawo ha5 rcajly gtvcn mifKktKe to Ixlllinue w thive the [￿0￿mIng atkl ow &y)irati( forward forthe ¢thtetws' St￿0 In i¢m)s of orchethi pu%)nncl, w¢ have enjo)'Ixl our plajers and pr]na￿S risrng ts) the chajlcnge of the progrdtnme. A ial Tnention s￿￿ld go ￿ Leader Ruth Roga5 and Cfrtg*Jtt Kickv S%ire4Je5' for t￿lT brilliant pla) ing. Like%￿ls¢ mw¢¢Ting the rA)wer of a Wagmian horn 5ecti(m is M ￿all undenakillg John James Alexei W￿kIn5 should be singlLYl out for thiss Our team h&s (x)ntinued ts) work e¥tremely hard behind the Sce￿5 to ¢XLwfL the of the orche5tr& (hjr gentt￿ manager Guy Morley (xmiinuts to work three thv5 a Hi.% role is ll&n]Ments￿ to ￿p￿rt Joatw's proEfdmme and continue thc great marketing thHt th¢ 4Yches¢¥a ¢njo%k He Is now joined by Gill thii¢s as (￿Yal10￿% Ma[￿er. tr￿lanc¢ l.'iXLr Torn wrait￿ aThJ K&e Fargl*r ￿ wntinues ty Frovi¢k cx(xll¢nt fllwKial L￿￿￿1 ensuring the ongoing sthbility of the manwu)i tearn Page I BRI.GHTQt¥ * HOVE PHILHA C.HAIILMAN'S REPORT FOR THE ¥EAR ENDED31 MAR In Itrn15 Ot. fllndraistng. Me haye Lxtremel! l(we to ￿)ntin￿ to recctve ge[￿￿￿8 les￿le& le￿¢le9 ¢nablc us lo enter CaLh ncli" Sca￿ ￿¥th the oinfjdenie ofcash flow and the abili¢v all￿. Joanna ambitious in herprogratnTning. building new" audienc£s aJMI ￿1111}. forthe orche5Wd into lis se¢L￿d LLYJtup. Speaknng of cenienaN. we are delighted to ha￿¢ Fwllik fotw*d ￿ ￿t]¢orDIng 14Uf)' Dai't¢s to her new role replacing Andrew. COm￿n &$ CEO. Il'e ii.ish Andmi" e￿eTh. sllc£e&s in his e¥¢iting role at Aldbon)tsgh. r matketing ei)ntinues to grow ￿7th Gill'5 aThJ Gui"s ey*r1e￿. OLtr Prttwship with Sfxiaj mojia agenc). Social Fir¢n}' 15 incrLYsinglJ proi i(ting a stsble fw digi&d campaigns arKi is proklljg sllc£e&sful irt getiing m.ord oui to a %￿h1)ll audiencL. el"tdern in the increa*d iicka Ille a150 launched a irauiifijl nei% ￿ebS￿le with designers 'hit¢spac¢ arvj Intro I IK. W'c ma ovcrdll salts tsrgets for thc 99th Ow rKW look Is ready to 5L¥)w&gse our prol¢ssional orLhestra IVT th¢ irni¢TW" aTMI k)'otxl. I would like to th￿￿k the Iloard ot I'ruths for their suprN)rL AtMJr¢a Cifelli ha5 handed oier the 'knon' lo me ￿lth the orchem in a wonger and MO￿ stsble ￿)SIti￿ than She found it in. No mean fi* considering the challenge5 of the Covid season* M). thanks to htt for her ongoing and she h&s 8gr(xyJ to on compaw 5ecretsry. h knowledge dnd is in￿luable. l am fvcry happ). that we ii'clcorn¢d Imjr principal i"iol& Caroline Harri￿n io the this fJnan¢ial Neat. Iler influerke 15 alteadv bciTrg fclt bringing t￿￿￿11¢ [￿1. thinking io the Bob COOL wr trtasufL'r. h&% exlrernel￿ diligeni i ensuring ihat wntinue to build a financi￿ t￿l(lon to enswe the h￿1th5 fillurt of the or¢h¢5tra. Nornian Jacob5 continue5 to prokide tni8luable d%wience 10 the BoaThJ artd l i%"elLome wlleagu¢ Law)¢ CLwlo' to ihe BO￿ ￿h0 join&1 w'hcn I did. I graietriil tor all ihc lime Iho" gi¥"e ￿ thc li is ￿111 a Kern" diflÈthJli time for the drts in the UK the %%'tralth of k[￿￿11l￿gL and on the iK)ard 15 far rGqching and C{￿11n￿e5 10 help the orchesu? io buck the trend &% go from %treneih io st￿ngth inio the exciting nthl cen*naTh Chsir of the board of TTWtcts st¥lement fortht year e4dimE 31 MaTrh 2024 Brighton & IloN'c Philharmonic $(KI￿). l.imtted Tr￿e2 BRIGHTON VE ERED N . IWM71316 REPORT THF TRUSTEES FOR THE YEAR ENDED31 MARCH 2024 The Énjsttrs wlw) aTe a]so diraloT5 of the charity for th¢ twknes of tlx c(￿p￿teS Act 21W pr¢s¢nt their rerrf)rt with the financia] swements of the charity the vear emkyj 31 Yarth 2024. 1 he tnw have adopted the proi'tsions of ALL4)uniing and Re￿rtill8 by of Re¢omrnctMkd P￿1￿ at4)li¢able to charities preparing their accounis in aecothLf ￿7th tlK Itnanciai Rerthin8 Standard amlicable in and Republic of Ireland IFRS 102) leff¢rtiN"e l Januar). 20191. OBJECTIVES Af4D ACTIVITIES Objettlvtt and *im$ Our Mission SLqILllllLmL adood tn 2018. states PUryMW£5 ar¥J ￿lIVI[leS of the clwity 8Je ￿ enrich the livts of people in Brighton & Hove. aThl bevond. iy ¢klivering Vdri&i iEJtM)vativ4 engaging and concert pro8r&))me4 tErtorn)ed at ihe very highest le¥el b%. the professional musia￿$ of the Brighton PhIlhm￿Onic (hchestr Th¢ s￿Iety was ¢*ablished to and the k]kn¥ledge and apprecia¢iM of music and gentrally to 8th'a[￿e the £wse of M￿lC. li aÈms to brI￿g pleasure to the I￿1 ci)tnJnunity' through providing high quality. varied Cl￿]￿ tllU5ic rKogrdmm< wtsftssioThaily wformLyi 81 pric￿ * th¢ within Society's aV￿[able resoutv* to include a of concerts and r￿11815 of arti&i¢ valu¢ for the £ni￿M￿lL a￿1 ejucation ofthe I(￿7 atKJ wider Lommuttit).. Page 3 BRIGHTOIY & HOVE PHILHAR REGiSfERED.NU￿lBER: (M)371316 REPORTOFTHETRULTEE FOR THE I'EAR EFiD£D 31 MARCH 1024 OwE￿IVEs AWD AcfiviTIES Significant atttviti¢5 As ouilincil in ovr Mi¥sion %tsi¢cm¢nt Imentiontd prnIo￿lI l. ow i ision is lo k recogni5ed and valued a key part of th¥ rich ¢ul¢uial Tnix in Brighton and Hoic. wri¢hing the liicsofpwple ill the cit) and bejond. Ow arti#i¢ fvalues aTE'. lthtlu$ivity.. We to dcmiwstratc th￿ music is iruli inclusi1¢ with 8n is divu5¢ arwj Tele%'ant for all. while retaining respect Ourmusic￿ heriiage. and nurturing our Friend&" Extellenoe.. We 5tTiVt 10 provide music of outsthThling quajiii, excitcs ￿t￿￿'er hears ￿. bringing every n¢xe io lilc.. ￿ ith Ihc Brighion Philham)onic Orch£￿ra ￿ the of li"¢ do but Jnlwing thamkn music. recital& and othcr mu5iral gerKe SustsinAbilitv: We are comrnitiLNJ ts) securing the i￿￿re of the S(K'tetJ and the orth¢stra bv adopting s(AJnd land environM¢ntsll)' trieryJl)"l otKrning and em1￿￿18 ￿ChnolO&￿' io build ow digits] profjk and exiend our rcach: CoMaborntloD: We will work with l(uE. twi￿81 a￿1 a)[nm￿lIie& cultures aE￿ arts or8ani5atiolls to inspir& delighi and grow alldier*es in BrighioTh & Hovr. EdutatKpn: We *ek to nunur¢ m￿lca1 gro￿th. and gfflerall!" tsi ￿l'ar￿¢ the cw5e of mu5io bv in5PtriDg our audithc and the ¥nu5iciaHs of the fututt. and b). rrn¢Aitig assiAiThg the llud).. p￿tLE. knowledge 8md appr¢ciBtiQD of musiL. TIK irugees norni8]lJ anend perfonnarKe& arml Tehe¥vsaEk ￿ Brighion lkne in Order to med th¢ musiciarLS and audience. to share our artistic i￿v¢S and io h￿. ansi.er or th their%'iL'i%* Concerts: Our prugramme ot'aLti¥ities is norn￿1￿ mwh on knlding CUK%rts in Brighton and 14ova thereby bringing th¢ aTLs to th¥ loc￿ and i%"idercommunip". We %%'LYe fortunate to able to plt ￿ six concerts w the Brighton tkne. A fijrther naTrnted c(>nc¢rt held ￿ Si Luke s Churnh in Brighion. J(Tranna m￿regor and (wjr princi]￿ string pla>￿5 rtrforncd in chamber eoncerrs ai ihe GulbLmkian Arts C.eDtre. Ci)niLYburw aTrJ Ihc Allentx)rwgh Centre fi)r the Creatii"e Arts ￿ the Llnii'ersiii. of susse￿ 'The concert at the AttentKvough Ccntre M"&% presented ID &54Ki&ion w'ith Sthngs Aitache(t A third chatnber wtK¢rt ￿lIh our ensemble. Brighton FesliYa] CtrM)nLS and Brighton F&i%'al Ythjih Choir ￿rforM￿ ￿ All ￿nts LhurLh. Flo%e. Publlo benefit In shapin£ our objeclives the %"ear atxl planning our *1￿711¢& the tr￿￿tee5 have considerLd the Charit¥. ComTnI￿on'S gllidance ￿ public bcnefiL The Society c(>niinuL% to arrange an annual progr￿mMe orc(HjL*r￿ held in Iwal and xetssime ￿ a]1 TDcmbers uf the publiL. In setting Iht lthel of iiikei prices arKI ¢¢)￿esSiOn￿ tk Irustces gai"e c8r¢ful eonsidcration to the uLces5ibiliiJ for thos¢ on lffii inLll)me& ConC￿s1Onar￿. ￿CeS are mwjc a%"•lahl& a particular emphasis on uraging i'oung¢rwle io allLiJd ¢1￿1(al fOTt¢•ty Volunteers lJp io tw'elk'e volunteers (most of iithom are memkys of the &Kict%"l assia iiith lari1)￿% offitt-related h%k& distribute publicit) tnal¢ria15 and programmc& al￿ a¢￿ard ￿'c[￿S and TKrfomiw¢e& enabling lO￿tr #aly costs than w)u]d othcNi5e be the ths¢ Page4 BRtG OVEP LHA ONIC IE LTD Gl BER: 71316 REPORT OF THE TR 'STEES OR THE YEAR ENDED31 H 2024 ACHIEVEMEprf AND PERFORMANCE Charitable activities The Soctcty taken tk decision ￿ invest in an ambitious and high q￿lIty. Lry)rxert pn)grdmme to build audien(M and Tepuraiton. The S(Kidy is 8lw prqiarin8 for its Cthiojary Scawn in 2024ll5. which trlebrn*5 ye￿5 since the first oncert was held by the 8vmplMmi¢ StrirE Play¢rf in H(TrveTown Hall on 18 Ma%. 1925. In ylXT5 the &￿]¢ty h&5 receiFd 0[￿b￿lIa1 Iwi¢& It rM)x5ible ￿ Sup[￿ ￿U81 C￿Cert Costs from le￿1<% receiv<1 exh yw. tIK &Kid)' iSc￿c¢m￿ to ￿hle¥C a SLL4wnable trni financi￿ tKbsition. ConciYt5 conlinlle 10 be ￿bjttt kn eost pre&q]r& prticular]y for m￿e ambitio￿8 larg￿ xale works which rqui] longer ￿hearsal time and suitable rehear￿ venues (ge￿ra]IV in IA)rMkn). Tr of the office tearn refie¢ts the l¢veS and LomploNity of thlnistratiie rquired forc0[￿ts and ev• Inwtne from corkert ticket Sal￿ in 2023ll4 has prevI￿S ye4T& tsjl for cMcerts fell Sh￿ of expectations. The seek5 w athith'e a i)aiaEKe in is pwme in apr￿￿ io ￿StIng aTrJ new audience The holding of ¢o*¢erts in th¢ evenings alld on different days of we¢k (rather traditionally Sunday aftUn￿￿5l is part oifinding m Omimum to &tsact audieff The 21Y23124 was the St￿￿d SÉX￿ during which a r(Mnplae prtvdmme ￿]d folloiving the pandanic. Audiences havc welmmed the ￿urn of live Errfornjdr￿ but there is g)me th'ilknce th￿ the nLllnber5 attending Iti'e ￿'ents h rthced from rffe-rth¥k7nÈc levels nem. pattenLS of ￿hUral and leisure wAivitJ have b￿0m¢ es￿b]IShed. The 2023124 fjnaticiai year includ&8the find o)TKCrt ofthe5t&w Sea SongK which w&$ held 7 April 2024. Th¢ programmes for 2024r25 *uent years will C4MJi1n￿ to evolw fft s¢¢ktn8 lo incre￿¢ audience number ThL' Ès ￿50 refinrng its marketing arwj &h'enising strdiegy to ￿tter di]wt its limited rL%ources iti attracting audien¢¢s. much gI￿er em￿asiS is given to mtsji The reputaiion of the Brighton t4JilhaTmoni¢ (hrkna to ￿ ￿th￿*d following a funhtr ￿ceSsful concert 5ts5on underthe dir￿llOn of m￿Greg￿. The Fl(wd ha% enjoyed a peTiLKI of thilitv. with mtThFrr ￿l￿t￿g eXrttIa]￿ wider artistic and rultural seLiOts. The further ￿r¢ngthenjng of the B(wd remains a [￿0￿1¥. During the ye4r& the orrfyation of the S(Kiety ben¢fittd from iL%' exrerience&1 al￿ ConEnjtkn￿ ￿T. Li)mpising a Get￿81 Manw. Ormti￿S and Finanee Manager. A [￿1$ continue5 to be thc dev¢i(went ofnew markaing itaiiiallw emph&sts on g)aa] media This has repiac¢d more tr*jitiOn￿ tnarkatng and wh"ertisin& which kni'e provtyj ILSS cffedive itk rcceni yedr& A new logo and dcsign identity have ￿ct￿$fi￿]), illtriNJwd rwramme& n¢wskttersaDd the Siriety's web 51 We remain very grdieful to St*)n￿ a￿1 donots for their continwj supprt trA)th tw finaTrciat ￿k)n￿l0￿5 artd attcfidatK£ at Viflual meetings to COTthw the &Yiet%'s FAJsine& BRI HTQNJ H VE PIJILJlARM￿wlc SOCIETY LTD.￿l5rERED NUMBEILJb)171 REPORT OF THE TRUSTEES FOR THE I'EAR EN I ￿lARcH lin4 ACflIEI'EMENT A ThD PERFoR￿lANcE Invt51m¢ni ptrfornian¢e "Ihe bontinues to hold a ¢urrnmi ￿COUnt Mith CAF Bank. tor its da)'_t(Hlay p￿￿￿. A curr¢n¢ a(toiint h&$ been 0￿￿ed Llojds Bank for Brighion Or¢hestrai Pr￿Ual(￿ Limi￿. The &Kiav has taken adi'aThtage vf intreased inrL7L* rthes b! ptacing furyjs noi to meet costs in the Near #head in ierrD d¢pusits with (hc NationiiidL' tjuilding and Vsrgin NIOn￿.. These Le￿ dew)5its profvide worthw'hile T¢tums ort shon tenn inN'tstments. 44hhle wiial prertio I￿￿estMe[￿l ￿lICY remwns un(kr rcvithi., t•rticulath. Is onl). a limited nLunber of high 5tstet banks are pr¢pared to accept dewsits where a curr¢ni a￿{￿]￿( is Th)1 8]9) hc141 11 is liTrel)" io io the rdnge of Short iemi inw&%tmLnt& whilc m￿n107n1ng thc ￿11￿. or￿pits1 pre5erb"atiO]L The S￿Iety is not vet in a r*)siiion lo ¢Th￿Ider longer *m) investments. It is It?*￿Ied to (k￿elOP a policy f(w I￿ger ienn inTrestmens in ?024125 and io ap￿int an ex*rnal i￿￿¢s￿ne￿I manager. A wtious rK)licy M'ill be adopted ithich SLrks to maintsin the v￿lle ot"inve5tments in rtal tertn& Page 6 BRIGHTON OVEP HAR OIYIC SOCIETY LTD STER NUM .110371316 REPORTOFTHE TRusfEES R THE YEAR ENDED 31 MARCH 2(124 FINANCIAL REVIEW Financial positio The result5 lor the year to 31 March 2024 aTMI the pre¢a]ing fIn￿ClaI yw &e xt in the Sithnajt of Financial Activities IKIOW. The S(Kiety hold5 an a[￿￿al ¢(MK%rt ￿0g￿me which is similtr in swe aTMI s￿1¢ one year ￿ the rKxL The overa]I cosi of the conLYrt wogramme therefote rmaiTLS trwlly * the same kvcl. As conctn ex1￿n￿S are gamlty by ticket a rei*iveiy st8n1fi¢￿Tht tKt C05t ￿ in ihe v¢ar from the programme. Th¢ thirustrative and oYe¥htad C￿ of the kniety ￿s0 inC￿led in the vear. twtly ]tfl¢cting investmeni in JE-bTandin8 and m&rketin& Wtthin th￿¢ c4)M& a high￿ level of eXp￿dI￿TL. (OTht￿ 4aff was requir&1 in 5UPP)rt of ts concen p￿￿[Irne. CthL731 th￿l5¢￿tIOn c<￿5 1i.ert largelv unchange£. The Socicty Iw continued to knefit fr(￿n kntiaE Iwie& A Signifi£￿t ILgkn. of £310.(KKJ ￿1Ved in the J from th¢ estate of the laic Syli'ia Si John. This Iwy was a￿j greatl)" agsisted the financial Wb5ition of the SoLia% in the J¢ar. &)me TesLdU￿ I￿)1nLyiLs rttettred from a numF£r of L*at¢s duTin8 the ve4r. iotalling £60.5(X). Further residual 4mounLS t(thi1￿ £117.￿* ¥wE c trom the late tk)rtrn Taylor. £125.IW from the late Mavis Rtvnolds and £120,IKKI from th¢ late Jean F.Ilard. All gifts to th¢ Society, wa]1 and help the l(Kw ￿ ￿Tri￿bility of the kniety and the of th¢ annual cotw programmc. Surp1￿￿(der￿It) f•r year largcly as a Te5ult of legacie& the r Inancia] re5uli for the 5.￿r Hvuld have IKen a sub8aniiaJ surplu5 before taking in to C{￿S11]eratiOn the prLNJuction With prtyjwtion costs h&vrrE i1￿rra￿d signifi&gnd> for 2024. the net outtum for th¢ year ￿#5 a defi¢il of 411.561) 12023 surp1￿ of £147.9221. Th uth)'Ing ()perating 4kfJcii of the Socicty bef(kre legacit5 was £382,1kn1 12023: £187.078 Cornpantffive figures In ihe previous )'w ¢(tsts i￿￿ted in the subsidiary. Brighton Orchtstral P￿lUCIl0￿S Lfd Mere includeJ &$ a single figure. This year, tht c(w have rEfiixtrd in the &cwJts of ¢harity wmler the of costs In￿r[￿] (see no* 6 and 71. sour￿ of ID¢ome Total income for the yvdr ￿ £548J57 (2023: £5￿702) ffflthi the fi￿1 con¢i7t [m8rd￿t held in rhe yw. incird fuT￿ing wurce5 of the in the ye4rMrrE: £119.92112023.. £130.4631 from ii¢kd sal £58.136 I2tr23.. £43239) in tnv&stmeni illLX)m< grants and ￿]Ved fmm owts and individu￿S.. £370,511) {2023: £335.(%K)) frtyn Iwi& ExpelldithTe A full analysis of exrthrt[￿Te on chartthble ￿liV1tiL5 is gii'cn irt no* 7. eX￿￿lture wnounteil lo £243.354 for BHPS al￿¢. 12023.. £IW.174X but omll £5￿.118 120?3: £3fA).780) tsk'tng in ¢oncert cl)￿$ 4￿t unthr Ilrighto OrchestrJ Pr¢thill￿ (MJ of &Kiet)". Pa8¢ 7 B_IUG.IrroN & HOvE.PHILHARM￿￿lc SOCIETY LTD REGISTERED NUMBEIL. 71316 REPORT OF THE TRUSTEES FINANCIAL REVIEM. Reserves ￿11¢Y Resernes are needed io bridg¢ the gap the spending arxt re¢¢iiuTr8 of T¢￿￿T¢£￿ and ¢0 cover unplanned nergtn¥ies and other thpendiiure. Th¢ tn￿tt5 C4)nsidLY th￿ rwv¢5 51Mwld maintsind at a minitnum level of L?iO.IKX). b￿d ort six months, oFraLing L￿s tn an a￿.￿ge 0￿811￿8 %'&gr. Actual free are £1.7(XJ.485 • 31 March 2￿4. ￿h1¢h is Iwl). atiributsble to 1¢8w income in the prnious year being tx)l￿ered by lurther legw inc￿¢ of £370.>lK) this)'car. lTh¢ SIKietv is es8eniiallN' ￿1]ing on rE￿￿'t5 to fund the annua] CLth¢ert pwm& opernting and oi'ethead& 'lhe underlying olmtional deficit (before leEacie51 in 20J? r24 £3L•.(bl. t)ue io the re£eipt of legacies of £370.500 the reduction in resetNes in the vearw¥ limikyl io £1 1.561. Coitkxwntern "Iht S￿iLt) is in the fortuna* [￿5)(lOn of besn8 receipi of sulwiiial legaci¢& 14.hich ajlowed it to (X)lJ¢irtue during th¢ p¢riod of the p￿e￿iL to resume aT￿ enhdnLe its annua] ptwamme ofconcerts. The lev¢1 of legacie5 rec¥Èi'ed aryj eiwved pro%'idcs mc ccrtairrtN' th￿ the kniety will k able to meet its tuture tinancial obli8ation5 for somL )cars ahthL conw￿1[%". the ￿1[1 ￿ able to ￿￿tInUe o¢xrating sutt¢8sfully as a going ron¢ern and the a¢¢omts haN'e th•Ytore PTe1w￿l on 8 going b￿1 The PrtNiurtfftoD cOm￿nY After Ihe ¢nd ol" the )"ear. it ￿carne 8PWi that the PnKluai¢)n c1)m￿V would wuirtd to ac4xKmt for vat on any Losts recharg￿ to the parent lharin. and the itharits. ￿0￿[d ￿ unable to rEcoTrer (hi5 for timwe peri(Mls. thc tharity "511 IK. able to claim an! t&x rdiefs due UTL4kr (h¢hestra Tax Relief atxl as wh the sqwa* priMhEction u)mpany is not rcquirtxl. The parent charits. th•rfore d￿7{￿%1 that oll¢e the pr￿U¢Ll￿ eompan) had claimed and rcceiv￿l anj t&K Érliets d￿ up to 31 March 2024. *)d 5¢rt1d amv i'aL litibilip. and an!" th abli8ation& ii ￿Thi1d up. Ab. a resulL il was dtthded thal ￿ c05[5 incurred in tl* cOMp￿Y for t￿ vear oded 31 March 2024 i¥Duld be mi)]t Property rEflwed in the ￿COunts0f the Cl￿￿. ￿1¢ 6 aJMI 71 FUTURE PLANS Society ￿0p[e0 ihe strat41' ol invtsling in its concen proEramme to build reputation and to extujd lis audience. lis &spiralion is Lo transiti￿ ￿ a EX￿l￿On 14.here iLS dnnuai pr(Eramme of coNc¢rts ss sttsiainablc from ticket salek sp)n50r5hip. tundraising and I￿ethen1 ÉrKome. bul recognisin8 that gme 4>pli(ation of rttetves is likely io b¢ ￿r￿sSar).. operatio￿71￿. the kn'iet). Mill coniinue to rc¥1￿ ztxl enhal￿e its administrativ< financial aTKi WWdnisational pr(Ke55¢s. In particular. O￿tr ihe ntii ivar it is jn*ftd￿ ￿. - continue tv develop astratrgic plan f(Kthe nexi 5 )'ea - build uwn Ihc tundraising initiaitVLS N'hich art plan￿￿1 lorthe 7>24-25 >ear. - further dcN'elopour¢ommunicaiion 4ULd mark'eting Ard[￿￿": - reaeh new audience5 thmugh t￿rfOrn￿llc{S in icnue5 outside the irnmoji￿e Brightr*n a . fwther develop our web pre5erKe and rKomNe our bT￿. Page 8 BRtGHTON & HOVE PH Nl ETY LTD ISTERLD N MBEIL. RE RT OF THE TRL'sfEES FOR THE YEAR ENDED MARCH 21124 STRLICTURE, GOVERNANCE AIYD MA.YAGEMENr Governing doturnen¢ The Society is a company limi*d by gua￿1￿ n¥#oEd at (A)mrAni(% Ilouse IrEgi5traiti>n nuM￿r 3713161 and a eharity ￿giStered with th¢ Charity Commission {wsiratii)n numF*r ISIMI). Thc Swidy is governed by its Mcmornlldum and Articles of As5(Kiation dated 9 IkcemlKr 1911 atKI la5L *nen¢kd on 6 Novemt*r 2022. Metnber5hip of the knety is OTKn io The ￿dInary mtmF*ts or¢ the Frialth ofth¢ knidy. In the event of windin¥ up of Ihe &KieN. Lwh Mem1￿ u[1de￿¢S ￿ UMItrii￿Ie to any liabilitscs to a limit of guin￿ Ilwo wd5 and ten The &K'iety adorted revised meM￿¥J￿￿ and Articles of at its General Meeting on 6 Nov¢Tllber 2(r22. The revised aniclÉz ¢Eosely follow the ChaTtty Commission M￿￿1 fornj Reernititte￿ aDd appoinlmtntof Hew tntyit¢s As sa out ￿ the Memordndurn and Artic1¢5 of A￿1&1￿ tl* busin￿ of the is mw]aged by a B08rd or M￿ageMLY￿ ¢thJSiSting of up w nine elec￿1 mem The m¢Yn[￿ of thc of Managcmwi arr dtre£tys charitable L￿]npanV and its tnwc(% for the purrx ot Charit￿ law". The elecied mLrynlKirs haTr"e 5m'd durtng ).￿ra¥ (brtst(Ys a￿1 tru￿£¢5 wer¢ &8 noted on page 10. Th¢ Board of man￿anent is re￿￿1b￿ the ovmll govunw of tk lThe EJo8rd meets Six times 8 year. sU￿¢0MMi¢l￿S are t￿tabliShed as r¢quire41 matnli. covering finall￿ ar￿ incotrie gentyionlTnthetin& At each AGM orR third of the dirttt(rs rdire in T(ts¢v)n and may tkn sta￿1 for ]r4leaioTh by the rnern￿ No m¢ml of the Biwd may sErye for Illo￿ than ye•¥ (tsvo years cla￿¢ before Slth a membu is ¢ll￿ble for re-elect20n}. The Irustett have the rower to fill a cas]81 vrncy in the Bfftrd of Mawtmu)i aTrJ to appoini a person a5 additional mvnkr. Those alwin￿l must el&xion at the nexi AGM atd aF¢ subject to thc general rules uvfflng retiremthi and electio￿ oldirecw All mcmb¢r5 of the Sociely are Lirculatrd with inviwions to n(Mninate memkn to the Bogrd rxior kn the AGM and advising theTn of ￿ ]rtiring mL¥nlKr& The B(wd has Tegwd re￿Ul￿ne￿I for an). 5￿Ci￿lS1 sktljs nttikd when considering awK*iniing an ￿llI￿al member. PORTOFTHE TRI.STEES 'EAR fr.N STRI.'CTI'.RE. GOVERNANCE AND,lqAIYAGEmE￿r OrganisatiDnAI strneture The staifing arrangttnents of the S(*ieh" are yJbj¢LI to ￿Trtinu(￿ rc¥iew io LryLgJre that a [￿of￿￿10naI appnwh is tsken to (klii"crJ" Ot an ambi12ous corKert pTh￿raMme. The Societ> is manag¢d trjv a C]cn¢rni Managiy. kJ' Y¢swxtsibility" i% the mmJir*tion of all 05Frcts ofthe aT￿Ual progr￿￿me of p¢rforniwK¢s. The G¢n¢rJ Manager i5 SUp￿rt￿ ￿. an OF¢rations Nlanagcr, r¢sJxmsibiliti¢5 include Spon￿rship and mLnnEership aaii'iiies. An OpLYations C(M)rdinati)r Mas aprM)inted in 20?4 to fiffther Siren￿hen the oflitt team. reLogntsin8 the le%'el of iiY)rt twuired to sijtte&sfu]1￿ deliver an aNiuai programme ol OTchLsiral conctr(& The otrice team also include5 a FinatKc Manager. ts re8W￿ble fw the finan¢ia] affairs of the S(Ki￿. including payment of musieiansand prqMTatith] of m*MgemeM finarKial sthtemert I'he kniety anploys a 'Fixerf. reS[A￿lb1¢ for ananwg the of musicims for rehearsals and pcrforniano All ot.the statTare &Kiety are ￿l-time an￿1ntr￿c￿& with %)me b&si Casua] stslff Hre emplo)"oJ os required ￿ wi5t rArticul8rly iiith cvents and s(Mne T￿lIne office wsks. Music Director The Music Dire￿Or of the Brighion thlhrnonic Orrhe5tra is MaLfffegor CBf.. The Musi¢ Threaor is re5PK)ll5ibl¢ for the overall artistic dirertiort ol the Orchcsrt includillg ihe SelL￿10ft and pwming of the annual concert season. This is a paid part.timc aNh)intmenL oft b&sis of a th]re-}&qr jo￿n& MaLfjregor has apN)inted fora sccond th[￿yE￿Ilym. C￿men¢4￿g V4ith the2023ll4 se45(KL Our volunteers VolunteeT5 of iihom arE members of tk S(Kidyl distritrArte publicity m&aiais aT¥J prngrnmme& and s*wanl events atKi ￿rforMan(*S enabling lO￿tr offe1￿th8ll would (Hhernise InductioD training of triis1tt5 Ncw trust{￿ undergo an orienwion briefing ¢okering their Icgal (knligaitorLS urth rlorit)" and compam. law. thc Chorits. CoMmi￿10n guidance on publiL F*nelii. wntent ul" Ihe MtmoThNdum aThl Articles of A%￿1&10￿. the ¢i)mmittee and deLi8ton.making pr(Lt55es. thL" bu5ille55 pian and rLx¢ni finanl]￿ ￿rf(￿That￿ ofthe chwity,. TnLSW are encouraged to attend appropriaic cxiLmaJ traininge￿¢￿t$ i%hue th￿¢ llill fatiiitatr the uniknak.ing Lil'th¢iT Tole. Wider nth*ork Friends of tht Srtitty I'he Friend% the mcmbL4s of the kn.iets haie their regular TKW3]ew aThJ be￿efit from priority tK)oking arrangemens fortick￿k ds well as ￿Lia1 discounts and The number of Frie[￿￿. at 31 ma￿ ?024 i¥75 336 131 March 20?J: 362K The Sc¢iety' is grateful for the continued 5UPPUrt ofr'ihe Fri¢nd%'The Fricn&s JJ¢ ke%, ￿ the suLxY&s of fiuure plan Pag¢ 10 BRI IETY LTD ISTERED BEIL. 316 REPORT OF THE TRusfEES FOR THE YEAR EIYDEDJI MARCH 21124 STRucfuRE, GOVERNANCE AND MAIYAGEMEr Rtl#¢ed p4rtit Thc S(Kiety 5¢t up a 9Jbsidiar)' 'Bright￿ (￿￿￿5￿ LImi￿j, on 22 2022 for the puT￿lseS of claiming Or¢h￿ra1 Relief on rehea￿￿ cos This is a wholly subsidiary orth¢ &)cia)'. The kniet! the company with sufficient fijnth to m(%1 reh¢aTsal costs lin¢lwiiog the hire ol Jxemiw aEMI rnusictan5' feesl ThL' companN h&5 rto iTKOrnC, other than t re¢l￿Tn￿ from HMRC. The Tft c(stsofthec4yntr￿. atr md by th¢ St￿1&v ￿ the of the financial year. One of ￿r tTUStL*ts is a musician at¥J ￿formS with Orthtsm They YecL'ive the same T￿n￿eration &s an wuivaieot playtr in the OrchLZtr& (A)mpluTh￿. corK¢rt tickets are tnLqe¢s wish ts) bring guests as pan of the p￿M￿l0￿ ofthe Orchcstr& ThetnL*Jees T￿tIve no other tet*fits from theirwork the Any cor￿c￿lOn ￿ween a t￿￿et or employee oftht charity 8 txiNJuction I￿7￿.. Frfornier ￿ vemte must be disclo%xi h) the full board of tr￿s1￿$ in the same as ￿Y thr contr2au￿ relatior6hÈp a ￿l￿trd ppty. In th¢ I￿¢ charit} has a close telati(Mthip John C8rewe Brigh1￿ {kch￿tra Tn￿ a C1￿1V ￿h]ch 5hare5 the Trust's Passion for OrctKStr￿ torycert& and with Brighton th)￿¢ & Brightsm Feyiial which the Brighton tkne CoJK¢rt Hall WI￿ the Rtsk thattagement - aj) annual r¢view of t￿ risks the Gharit¥ may f￿. - the establishmeni of systffljs and pr￿re510 mitig* kn TÉ&*5 ]demifi￿ in the plwL and impteMtht*j￿ of prL￿1[res deSig￿d tsi minimise any rAxen¢iat imp￿1 Im the charity should those risks mateTiaJi5C. This work has id¢ntifJed m¢dium and long¢r I￿rn fi[W￿la] ￿Ina￿lItt). 15 the rnaior finart¢ia] risk for the charitv. A key clcmeni in the manag¢ment of fyjanciai risk is c(xtttnuing oi the ￿$¢￿¢5 wTrlicy of the S(Kiay atjd (he r¢*ntion of 5ufficieM working wiial. Alto]lion h&s also F*en on w￿fina￿la7 risks *t5ing heahh a[￿ safdy of our memkn: musicians ar audiert& REFEREYCE Ali"D ADMifilSTRATIVE DEfAILS R*gi5tered Comp4Thy numl)¢r (M)371316 IF.ngland and Walinted IW5Q023) N G JaLobs J Ciill lapwjinied 1517Q0241 Ittdepettd*nt Examiner Dr Shona F ￿'ardrop C.A. c.hariot House Limiied L'hartered Accournants 44 Grand Parade Brighion tr.ast Su& 0￿￿tr$ J￿nd MacCir¢gtsr. CBF. IMu5iL Dijtdorl Barry W()rd.%iiorth ICoThJuctor Lau¢we) Honor4ry Offleers P(1sition vaLthi IPresiden¢i John Ivic¢-Pr¢sidenil Dal'id I louse IVi¢e-Pr(sidenil J1￿kIe Ljihell. OBE {Viee-PTrsidcntl Ronald Power. MBE IViee-Presidenl) Kgm Platt Ivice-Presidenll Approved by orderof txmrd of trU￿S on..-....._......._....- JABri Pa8e 12 IN Blu MIN PORT THE TRusfE VE HILHARM IC SOCIETY LTD N&H Indeptlld¢nt eS**biuer's report to th¢ of BrightoA & Hovt Philharnonk Sotltty Lld (Uhe CowpHny') I rerth to the charity on my cxamirt*im of the accounts of the Comp￿) ￿￿the year ended 31 March 2024. R¢sponsibllities and bA5i8 of Trport As the Ch￿tY.S tru￿¢¢$ of the CrnIt￿n5' land also its dir￿￿￿5 for the pw of CoMp￿Y la%*1 you aTe re5w)nsible for the p￿￿at1{￿ of th¢ ￿Out)IS in ac￿rdanlE with teqthkrnnthtsof th¢C(Mnpanke8Aa 2(￿ Ilhe 21X>6 Acti. Having ￿lS[led myself that the acc(￿1￿ of the ComrAnv are MLM requÈred ts, ￿ audited ul￿er Pari 16 of the 2(M)6 Art and atE cli8ible f{￿ indepenthnt ewnirwti(XL I rerM)rt in res1￿1 of In). C￿l￿10n of your chariTh s ￿COUnts as carried undcr Section 145 ot" th¢ ChaTitifs Art 2011 I'￿ l Ad'l In wing ¢x]t my examin￿10￿ I have followed the Directions Eiven by the Cltarity CommissiM ur¥kr Section 145151 Iblof the •OI I A lode￿Id¢￿t examiner's st*teth¢#t inc¢ YOUT charii)'s gross ittcotne exceeded £2￿.(￿KTr yojr exami[￿ m)Jst a m￿n￿r of a li5t¢4J tr￿y. l Can confl that l aTll 4￿lifIed to wlkrtakn th¢ ewiinal￿ a memFxY ofthe Instit￿¢ of Ch￿tered AC￿￿tatIts of scolla￿ M'hi¢h is ott ofthe li*ed Wie I have compl¢t¢d my l o)nfirm matters Imve C{￿ ￿ my attention in &)nnethon with the examination ￿vin8 me to Eelieve: accouniing recoTds were kept in Erw of the asrqwirnj by seL%1￿ 386 ofthe 2(Mkn A¢ or the acc(Kmts do txx accord with rtton￿. the accounts do not ¢OTnpl)' with th¢ &¢￿[[￿￿n8 requirtments of knion 396 of the Jxkn A¢4 1)ther th￿ any rtyuireTnent th& the ac¢(Mmts giv¢ a •Ki fair view whith is nol a matttr c£M]sidered as W of an independent exanination- or thc a￿ollnts have not F*en ￿Epared in with ￿ malMK& prirKiples of the Ststement or iiecommet¥knl Pradice for rntin8 a￿] rewiing bi. clwiiies (applicable w charitiL￿ preparing their accounts in xcor(l￿te with thc Financi￿ Rerrf)rting SthTthrd arvlieablc the L K a[￿ Republic of lTeland {FRS 10211. I hav¢ no ¢OTKcm5 arKi hove me ￿ I￿ (kn mauers in ¢onnLYtion the tt,585 1.69&457 15,489 TOTAL FLTr4DS 1.702J85 1.713,946 The ¢harithble comFWy 15 cntitl¢d io from atyjil utKkr ￿lon 477 of the Compsmie5 Act 2{m￿ f(r the year ended 31 Ilarth *024. The m¢mtr¢rs haye requirEd tr Comw to rt4ain an ?￿lIt of its finaTKial for the ycar thdtyj 31 March 2(r24 in acc(Kdw w(h kntion 476 Ord￿ C(mp*Jies Act 2(Kkn. The trustees ￿k]￿WI￿J8e theirTcswi￿il1tse5 f ensuring the charitsble keeps &C￿[nI￿8 rwonls cornply with Sedions 386 387 of the Companics Affl 2(XXTr and preparing fiTrancta] ststemenLS Ththich wve a t￿￿ arKI fair Triew of the qate oCatTairs of the dkaTitable C(Mpa￿. as at the end of ¢ath fu￿￿la1 vear and of its swplus or defictt for tth firwKtal l'ear in accordance wilh the ItqilsremenL8 of Sections 394 and 395 and (th¢Th¥i￿ LThipl% Mith rwuttrments of Il* ConPpani￿ Act 2(N)6 rel￿1￿8 to fi￿claI sla1￿CTrl￿ sohr ￿9[1)11¢ab]¢ chaTitsbie CoMp￿y. Ibl P4e 15 Contim￿J... BRIGHT1￿%& H.QVE PHILHA.RTrIONLC SOCJETY LTD (REGISTERED NU.MBER: IA)37131 These financi￿ stsiemenLS ha%'e been in ￿7th the Fxovisi(KJs a￿)licable lo charitsble companies bject to the small companies regime. 5tatEmertts weTt approi.ed h the B(wd of TnLStws ￿ authoris¢d fly is$￿ on *1 LoL*... and were signed on its behdf b)": rigdl￿. Tnjs The Mies forn? TWT Ot"th* r]nancil Page 16 BRI HT CASH FLOW STATE￿IEyT FOR THE YEAR ENDED31 M RCH 21124 2024 2023 C8sh ftOY45 from oper&ting *tttvib Cash genLThted fro￿ 0[￿ratiorks 140.217) 54.650 Net c&sh (used inVpTovided by ¢Jpmtin8 ￿tIvitt￿ 140217) 54.650 Casb IIow5 from invt5tiDg *tdvltles Pllrch￿ of fixcd in%'cxments Int¢rtsi received 11(M)} 30,650 Net ￿ proyided by investing &1iviti£s 30,650 Change ID ￿skn *lld ¢*th equivxleRts the Teporting ptriod C￿h tash t4Usvaknts At the l*giDDiDg of the re￿)rthlE {9367) 61594 1.647.883 1.585289 Cash and eqtyivgknts at the •f the reporting ptrkn 1.638J16 1.647,883 )Krfcs lorn of tt*se gatrments P¥8e 17 BRICHTON & HOVE PHILHARM.QNIC SOCIETY LTD .S TO THb. CASH FLOII. sr.4TENIEYT DTr'D 31 *IARC-.H RECONCILIATIO￿ OF l¥4ET {EXPEP*DITUREVINCOME TO NET CASH FU)W FROM OPERATI￿G.*criViTIEs 2024 2023 Net {tI￿nditure￿iDr0me for the reportiDg perirKI per the Statement of Finantial Adiwities) Adjustments for. 111.5611 147.W22 {311.6501 15.8491 1.426 6.417 18.(M41 141.6251 19.3971 134.2(X>l Motretneni in iniercwl￿i%. Wa¥ DecreaOlincrea5el irt (kMor5 Inc￿￿{dECreaSel in ¢￿d[torS eash lused Inyprovided b). optr•llon$ 140.217) 54.650 ANALYSISOF CHAliGES lli PIET FUPIDS A( 114n3 Cth flow At 3113124 Net c.ash at bank Jnd I￿nd I.IA7.883 9.567} 1.638.316 1.647.883 19.5671 1.638.316 Totsl 1.fy17.883 19.5671 1.638.316 lThc tmrt olkn fitwKial swements Page 18 BRIGHT E PHIL TY LTD NOTES TO THE FINAP*CIAL sfAT FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIF B¥sis of preparing the Statements Thc flnanci￿ sMtements of ihe charitsble which is a bencfit entity under FRS 102. have t*en pre1W￿ in xcoTh1a￿e M'ith the Chariries SORP IPRS 1021 'Accouniing and Rerth5llg b> Charilies.. Swetnent of R¢v)Jntno¥kd Pr￿ti￿ applit￿le io chari11￿ t￿t￿ng their ￿nts in &Y4)nkn¢e with the FinanGi&l R¢porting Standard applitxblc in the UK Imd Re￿bIlL of Irelanti IFRS 1021 (effl￿1ve l January 2019),. Fin&rtciaJ Re[￿)rrIng SthTKSard 102 The Financi￿ R¢rffling Sthndth appli(xble in and Republic of Ireland. and Companies ALt 2(Mh The financial s￿L￿￿ents h41¢ b¢Lm plEpa￿d Lumkr the historical cost conv¢ntiotL wkth the ex¢epti￿ of invemws which ar ÈncluW atTnwkct V￿Ue. Ineome A]1 income is rccogttÉsed irt the StatemeN of Acliviiits orKL the dwii) has attitleM￿lI to li is probable that the income will be receivoj atml the ¥Tll0Lmt￿Tr ￿ mrawrd reliably. Exptnditu Liabilitie5 are r￿O￿l￿1 ext*t¥litt]FE &s a legal or (xjnstru￿Ive obligation commilting the charity to that expendiitsre. it i$ w(thble th* a traiisfL7 of eLThOmiC ￿fits requijed in s¢ttlemLni and thc amount of the obligatiort w be meagjrul reliablv. Ex￿[m]itUTe 15 for on an a. Where costs (gmnot ￿ dircctly attributed io particular headillg5 tlw. have all(Ka¢d to &tiviiies on a basis consistrnt ￿7th the use of Taution The CiwtiN is ¢on5idLYLNI LO ]xss the tests Set in p￿ I S￿￿￿]e 6 Fitwtt Act 2010 and therefo￿ il m¢¢ts the defini¢ion of a charitable C￿￿1>. for UK CoTtM)ration l A¢c4Trrdingl> the Charity is tK)tentially from taxati￿ in respert of tnLM)me or r￿¢1￿cd w'ithin c￿L￿)￿¢S coveral by Chapter 3 Pan I l LoryKntion Tax Act 2010 or Seaion 256 ofthe l aXoti￿ of C]wgethle Gatn5 Aci 1992, to th¢ extrnt that such inc(Kne ￿gaInS aTr a￿lled exclusively to charitablL' pl1r￿j$c Unre&Ti¢ted fiTh15￿Tr in aLrcth with thedwitsble obitixive5 discreti￿OF the tn Restricted funds only ￿ used for rAni¢ular r£stric*d PUTWW within the (knjtxts of the chwity. Restrictions ise wh¢n wificd by donor or wkn are rai￿￿ forwtiaJ]wrt¥JiLled Furtherexplawion oftheTWture of¢ath fiuMI is I￿[￿ in n(tss finWI￿ 5tatemtsJ Pension C¥￿ts other p￿t-retI￿￿ell1 bEDellts The charitable co[n￿) operates a ￿.fined LXMllribuii￿ pension xlwne. c￿tr¥I￿tionS payable io the charitsble company's ￿)sIon schcme are charged to the Ststemejrt of l.inaJKiai Acui'ities in the ￿lOd ttF w,hich they relate. Page 19 BRIGHTON & HOVE PHILHAKIIONIC.SQ.CIEf.Y LT iy(yrES TO THE FIN.4NCIAL ST.4TEMENTS- coDtIn￿td LUHLYEAR EliDED H 2024 tK)NATIONS AND LEGACIES 2024 2023 Iknations iftwd Legacies Membership fee5 lJ46 1.895 370.51M> 8.045 2.522 335.(XKJ 6.571 381.786 348.633 OTHER TRADINC A￿1VITIEs 2024 2023 FwJdraisinE eveii 6.362 INVESTMENT INCOME 2024 20?3 De￿)$11 ￿cOl1ft1 tniere5t 30.650 IPICOME FROII CHAIUT.4BLE ACnTrTtIFS 2024 2023 Aaivity rjck'et sales rA)nsorships FAlucaiion project 119.921 15.3 130.463 15.2 tkntne CO￿ ￿On l36.12l 145.663 CHARITABLE ACTIVITIFS COSTS Supwrt 05151set note 81 Costs (see n￿7) Totsls Dome co￿Ert SLX8on 368.345 191.773 560,118 The e%￿ndit￿re ligures for s'ear eNlcd 31 Marth ?024 include b16.76A ofcyaK1iiwe incuFr&J b). Brighton Orch¢5trdl Pr￿Ju￿10￿5 l.imit￿ the ￿￿dIa[). CoETr￿n1. The expermlitllre h&5 iKen ￿lleL￿d in the aLx)ve figurL'S ￿ ihe costs dircali. in¢JrrLal in puuing on the corKats and therefor¢ in g￿￿&ing the ticket sale5 in the chariti.. This 8mouN is ITh¢1￿11 in the treak"Ih)ii* of costs in 7. TON& VE PHILHARMONIC IETY LII) NOTES T THE FINAYCIAL STATEMEY75- conlinued FOR THE YEAR ETrDED 31 MARCH 2024 DIREcr cosrs OF CHARITABLE A￿1VITIEs 2W24 Or¢heth￿I8rtlsts ConG¢rt mgJw Pn)gruTntnes Marketing atml communie*i(x Other dirccl Equipment hi Travel Music Direc InstFurneni hire Instrument insurance Veiue hire PriNJucttoTr c￿ts 163.529 8.71rf) 174,(Y)7 25.460 313 15,568 654 62 6,?44 2.458 21243 41.4(M) 13.892 289 36.1 41.985 368J45 252J18 SUPPORT COSTS Management 191.773 Suprth (xw& included in the as folloThs: 2024 2023 Tota] tiTrities Wagfs P 1,453 38,390 172 7.If2? 26.953 191.773 108,462 Pa8e 21 con¢inuc41.. BRI HTON & HOVE PHILHARMONIC SOCIEILLID E*"_OTES TO_THE FINAL*4 IAL ST.4TE%IEliTS-eoDtiDued TRL'sfEES' REML.NEIL4TION AYD BENEFJTS Ttr￿re ￿tre no IT￿, reMune￿i0n or (Ahcr knefits Year eTthd 31 Marth 2024 nor for the )'ear ended 31 M8r¢h 20J? . Trustee5' expense5 r¢ were no (ru*￿ [￿Id fortt￿ &eareThkd31 March 2024 nor the )'e8T endeil 31 M8]th 2023. IIL STAFF COSTS 2024 2(123 Wages and 5al8ric5 Oth¢r ￿51￿n Lxists 48.454 1.329 14.651 434 49.783 15.085 The ai"erage monthlj" numF*rof cmploiee5 dwing the1'ear￿¥ as folloms.. 2024 2023 No emplovcc5 fLteived a))olwnems in excess of £elJ.(th. Kev Management P¢rwMel. M"ho are considcKd to k the trust￿& the ge[K￿ manager and th¢ operatlOll5 man4Ttr. receii'ed TemUr￿ra1ion (including emplo)'crs Awl(￿al i[￿laT￿ and pension c4mthbutions} for )'¢gr ended 31 Mwth 2024 ot't49.783 12n?3= £15.0851. COIMPAiL4TIVES FOR THE STATEMEYT OF FINAYCIAL.4CTII'ITIES t InrtStriCE&I Restha funds futK15 IYCOI¥IE ENII)OWTrIENTS FROM Donaiions l¢¥a¢iLS 34&633 348.633 ChHrTt*blt ActiiTh Domc co[￿eTt stason I30.463 1521M) 145.663 (Xhv ¢￿ing ￿1vIll¢S Invethert i￿(mne 6362 6J62 Total 493.502 152(K> 508.702 EXPEYDITI'RE O Ch8ritsble activides tknme LvnLert SL&wn 3EA).169 611 360.780 f*ET INCOME 133.333 14.589 147.922 RECONCILIATION OF FUTr4DS Tothl fur¥Js bwught foTh¥anl 1.565.124 1.56&024 Page 22 continu&f... CHTON PHI Nic TY LID NOTES TO THE FINANCL4L sfATEIIE FOR THE IFAR E,YDED31 MARCH 2024 ii. COMPARATIV￿ FOR THE ￿ATEmElYT0F FINA ThCIAL AC7IVITIES- continued RLStri¢tcd fimds TOTAL FUNDS CARRIED FORWARD 1.698.457 15.489 1,713.946 FIXED A&SET INVESTMEiYrs Shares in utmknakings MARKET VALUE At l April 2023 and 31 Mwch 2024 NET BOOK VALU At 31 March 2024 At 31 March 2023 13. DEBTORS 2024 2(r23 Arn￿￿ts falling due wtthin y¢ar. Trdde d¢knrs Ami)unts owed by grow) Other debtors PrLPdJments' dTLd awuaj i]￿¢ 24.057 47,474 22.(rf)I 41,625 4.540 10.985 10.754 84.174 79.751 Amouttts falling thle aftermore than yw. (Mher thbiors 857 857 85,031 Detrfors due aftermore thHn {￿eYear rtntsi thrM>stt re£ov¢rable ¢)n thechritys I¢￿j otTiecs. BRIGHTON * HOVE PHILHAILMOlYlC socirri'_LTD NOTES TO THE FIY.4YCI.4L ST.4TE%IETrIIS-tODtiDutd 14. CREDJTORS: AMOLNTS FALLING DUE WITHIN OYE YEAR 2024 2023 Trade ¢reditors securih. artd otherL*xes (hhcrerL'diiors Accrned eipen 16.170 915 677 3J( 12263 2.382 21.062 14.64) MOVEMEwf IN FUNDS MO￿em￿l in funds Ai 3113n4 At 114123 UTrre5tTiCted fuDd5 Gcncd 1.69&457 2.128 1.71X).585 Restrided funds StK)nsorships EduL7tion pmjeLX 14.589 (14.589) 15.489 {13.6891 TOTAL FUNDS 1.713.946 -702.385 Net movement in i￿l￿ded in thealx)ve are as follows: lrtoming Resounxs Movemeni resources exr¢nded in funds Umrestrirttd G¢n¢rni furtd 531357 (530229} 1128 Restricted futtds Spjnburships EduLation project 15.31K) 129.8891 114.589) IL?IM) 129,8891 113.6891 TOTAL Fuf4DS 548.557 1560.118} P4e 24 conunued.. N & HOVE PHILHARMONIC IETY LTD NOTES TO T IN.4P4CIAL STATE￿IENT￿o¥￿lled FOR THE YEAR ENDED 31 MARCH 2024 15. MOVEMEIYT JIY FUNDS-thThtinDt Cornpara¢tves for movemth¢ iti fu*ds Net moN'emeTht in fill)ds At 311J123 Ai 114122 Utyrestrided Genera] fund lJ65.124 133J33 1,698,457 Restricted fund$ Spinsorships Educ&iot% projeci 14589 14.589 14.589 15.489 TOTAL FUNDS 1566.024 147.922 1.713.946 CoMpa￿lve nd Tttov¢mart in fwbJ& i¥KIth in dMwewe45 follow In¢ominE Movem¢ni in fuThJ5 Unrestritted Gefi¢￿ fund 493.502 13fAI.169} 133J33 Restricttd fvnds 1521MI (611) 14.589 T(yfAL FUNDS 508.702 136AI.780) 147,922 16. RELATED PARTY DISCIA)SURES There were no relatLul ¢rawcti￿$ forth¢ Yew¢￿ 31 March JQ4. PENSION NOTE thjring the year the chants. made conthiKrtiotLS of £lJ29 to defll￿ rontsib￿lon rfflsion s¢h&ne& At 31 March 2024 £677 wa5 io rwion woiid continuryl.. PRIGHT0Tr4 & H￿VE PHILHARMOh"IC sQ£lE￿ OTES T THE Fl%.4%CIALSTATEME)￿S- >'OK"I'HE Tr"E.4R E) 18. POST BALANCE SHEET EN'EYTS After thc end of the N"ear. li 1￿Me ap[￿reM the Pr￿ctIon c&npm!' I￿ould ￿ wqvijrd to aCc￿nt for vat on o￿V costs Techargcd io thc paTeThi eharip.. aTh1 the chariLI' i%(wld ￿ unable io nYoK'cr this vaL "lthe paThl chaTitN' Iherefore decided that once the pr￿ll￿10￿ eomtAm.' ￿ Claim￿ and re¢eiNed anK' Teliefs due. and a￿￿¥￿nted lor the *at liabilit!. ar￿ anv d)li￿lO[l* li WOUt￿ L4). For luiutE peri(xl& the LhariÈ} "ill I￿Ur all pr(xJuaion cost5 ar￿ ￿"111 claim the relief du Py26