Charity Number: 253972
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
TONBRIDGE PHILHARMONIC SOCIETY
CONTENTS
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Report of the Trustees | 2 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 |
TONBRIDGE PHILHARMONIC SOCIETY
LEGAL AND ADMINISTRATIVE INFORMATION
Registered charity number: 253972
Principal office address: 7 Broad Oak Brenchley Kent TN12 7NN
Trustees and Executive Committee:
Chairman Deputy Chair Deputy Chair Hon. Secretary Hon. Treasurer Choral Chair Choral Deputy Chair Orchestral Chair Orchestral Deputy Chair Digital Officer Marketing Officer Marketing Officer
Robert Skone James Rosie Serpis (retired 29 June 2024) Ken Morgan (appointed 4 September 2024) Joanna Mace Graham Bignell Stewart Dearsley Kate Howlett Jane Urquhart Patrick Glencross Patrick Glencross Josephine Willoughby (retired 16 October 2024) Caroline Taluy (co-opted on 16 October 2024)
Independent Examiner:
James Mathieson FCA Lindeyer Francis Ferguson Limited Chartered Accountants North House 198 High Street Tonbridge Kent TN9 1BE
Bankers:
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
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TONBRIDGE PHILHARMONIC SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
The trustees present their report and the unaudited financial statements for the year ended 31 August 2024.
Legal and administrative information
The trustees confirm that the report and financial statements of the charity comply with the current statutory requirements, the requirements of the governing document, and the provisions of "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)" (effective 1 January 2019) (Charities SORP (FRS 102)).
The information set out on page 1 forms part of this report.
Structure, governance and management
The Tonbridge Philharmonic Society (“the Society”) is a registered charity governed by the Constitution of the Society last updated on 2 June 2021. It is a non-profit making organisation managed by a committee of 9 members.
All trustees are members of the executive committee which meets regularly to administer the society. There are sub-committees to review matters in more detail and report back to the executive. When there is a vacancy on the trustee board, the membership is advised and anyone who is interested must be proposed and seconded by two other members. Trustees are elected or re-elected by the members at the Annual General Meeting of the Society.
Objectives and activities
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.
The Society’s principal objects, as defined in its constitution, are to advance, improve, develop, and maintain public education in, and appreciation of, the art and science of music in all its aspects by any means the trustees see fit, including through the presentation of public concerts and recitals.
Achievements and performance for the public benefit
Membership remained steady during the year, with new members balancing those lost. We put on the full schedule of five concerts, with audience numbers roughly similar to the previous year. Ticket prices and membership subscriptions have been maintained at the same level, although it is recognised that, barring significant increases in audiences and / or membership, they cannot remain there much longer as costs continue to increase. We have seen substantial rises in costs of venue hire, printing and music hire, whilst we have also given inflation-related increase to our professional musicians.
The Family Carol concert was, as always, very successful, enabling us to donate £2,000 to Scott Projects Trust.
Financial Review
The Society’s accounts for the year ended 31 August 2024 are set out in the Statement of Financial Activities, Balance Sheet and the related Notes. For the year the Society made a surplus of £1,540 (2023: deficit of £360). The Balance Sheet indicates that the Society has total funds at 31 August 2024 amounting to £59,489 (2023: £57,949). £1,245 (2023: £1,330) of this has been allocated to the Morrish Fund for assisting members to finance their subscription in cases of hardship. The Fund supports 1 member (2023: 1).
The Society’s continued aim is to hold sufficient reserves to enable it to pay all its concert costs if an event were cancelled due to unforeseen circumstances and to make alternative arrangements for at least one
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TONBRIDGE PHILHARMONIC SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
year. The balance of free reserves at 31 August 2024 of £58,244 (2023: £56,619) is considered adequate to meet that objective.
Statement of Trustees’ responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
Charity law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity 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 charity and of its surplus or deficit for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP (FRS 102);
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the executive committee and signed on its behalf by:
Robert Skone James Chairman
Date: 4 March 2025
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TONBRIDGE PHILHARMONIC SOCIETY
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF TONBRIDGE PHILHARMONIC SOCIETY
I report to the trustees on my examination of the accounts of Tonbridge Philharmonic Society (‘the Charity’) for the year ended 31 August 2024.
Responsibilities and basis of report
As the Charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
James Mathieson FCA Lindeyer Francis Ferguson Limited Chartered Accountants North House, 198 High Street Tonbridge, Kent TN9 1BE
Date: 24 March 2025
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TONBRIDGE PHILHARMONIC SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
| Note Income from: Donations and legacies 3 Charitable activities 4 Bank interest Total income Expenditure on: Charitable activities 5 Total expenditure Net income / (expenditure) and net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Total funds 2024 £ 29,281 19,180 2,681 51,142 49,602 49,602 1,540 57,949 59,489 |
Total funds 2023 £ 29,872 19,101 617 |
|---|---|---|
| 49,590 | ||
| 49,950 | ||
| 49,950 | ||
| (360) 58,309 |
||
| 57,949 |
There were no restricted funds in the current nor preceding period.
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TONBRIDGE PHILHARMONIC SOCIETY
BALANCE SHEET AS AT 31 AUGUST 2024
| Note Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total net assets The funds of the charity: General fund Designated funds Total funds 9 |
£ £ 1,355 62,496 63,851 (4,362) 59,489 59,489 58,244 1,245 59,489 2024 |
£ £ 1,137 59,302 60,439 (2,490) 57,949 57,949 56,619 1,330 57,949 2023 |
£ £ 1,137 59,302 60,439 (2,490) 57,949 57,949 56,619 1,330 57,949 2023 |
|---|---|---|---|
| 57,949 | |||
| 56,619 1,330 |
|||
| 57,949 |
The accounts were approved by the Executive Committee on 4 March 2025 and signed on its behalf by:
Robert Skone James - Chairman
Graham Bignell - Treasurer
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TONBRIDGE PHILHARMONIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
1 STATUS
Tonbridge Philharmonic Society is a charity registered in England and Wales, with charity number 253972. The principal office is 7 Broad Oak, Brenchley, Kent, TN12 7NN.
2 ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
2.1 Basis of preparation
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - ("Charities SORP FRS 102"), the Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") and the Charities Act 2011.
Tonbridge Philharmonic Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policies.
There are no material uncertainties about the charity's ability to continue, and so the going concern basis of accounting has been adopted.
The financial statements are prepared in pounds sterling, which is the functional currency of the charity, and rounded to the nearest £1.
2.2 Income
Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal offer is made in writing, unless the grant contains terms and conditions outside of the charity's control which must be met before the charity is entitled to the funds. For subscriptions, this is over the period to which the subscription relates.
Concert income is recognised when the event takes place.
Where income is received in advance of a subscription period or event, the income is recognised as deferred income.
2.3 Expenditure
Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. Expenditure includes irrecoverable VAT.
Expenditure has been classified under headings that aggregate all costs related to the category.
Support costs, including governance costs, are those costs relating to functions which assist the work of the charity but do not directly relate to its activities. These all relate to the charity's single charitable activity.
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TONBRIDGE PHILHARMONIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
2 ACCOUNTING POLICIEScontinued
2.4 Financial instruments
The charity only has financial instruments which are classified as basic financial instruments. Shortterm debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in the Statement of Financial Activities.
2.5 Fund accounting
All funds held by the charity are unrestricted funds. General funds are those funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.
| 3 Income from donations and legacies Subscriptions Friends and Patrons Gift Aid Other donations and legacies 4 Income from charitable activities Concert income Sales of music Workshop subscriptions |
2024 £ 23,148 1,650 4,128 355 29,281 2024 £ 16,515 917 1,748 19,180 |
2023 £ 23,283 1,210 4,940 439 |
|---|---|---|
| 29,872 | ||
| 2023 £ 18,204 897 - |
||
| 19,101 |
During the year the charity acted as agent in respect of a concert (Family Carols) which was put on in conjunction with Tonbridge Round Table to raise funds for local charities. Since the net proceeds of the concert is donated to nominated named charities, the funds do not belong to the charity or to Tonbridge Round Table. In 2024, the income collected by the charity was £5,630 and it incurred costs of £3,009 and then paid out donations to the named charities of £2,552. The difference of £69 was owed by the charity to Tonbridge Round Table but this was not pursued and so has been treated as a donation.
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TONBRIDGE PHILHARMONIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
| 5 Expenditure on charitable activities Direct costs: Rehearsals Musicians - rehearsals Room hire Other rehearsal costs Concert costs Musicians - concerts Venues Other concert costs Music hire and purchase Subscription bursaries Support costs (see below) Total direct costs 6 Support costs Stationery, publicity & other costs Making Music subscription Website costs Bank charges Governance costs Independent examination fees 7 Debtors Prepayments |
2024 £ 16,910 5,580 1,931 10,125 3,431 4,722 2,437 85 4,381 49,602 2024 £ 2,685 543 193 60 900 4,381 2024 £ 1,355 1,355 |
2023 £ 14,348 5,887 1,185 12,020 6,013 4,862 1,788 85 3,762 |
|---|---|---|
| 49,950 | ||
| 2023 £ 2,194 574 86 68 840 |
||
| 3,762 | ||
| 2023 £ 1,137 |
||
| 1,137 |
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TONBRIDGE PHILHARMONIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
| 8 Accruals Deferred income Deferred income Opening deferred income Released to statement of financial activities Incoming resources deferred in current year Creditors: amounts falling due within one year |
2024 £ 900 3,462 4,362 1,650 ( 1,650) 3,462 3,462 |
2023 £ 840 1,650 |
|---|---|---|
| 2,490 | ||
| 990 ( 990) 1,650 |
||
| 1,650 |
Deferred income is in relation to subscription fees for the 2025 season paid in advance.
9 Movement on funds
| Current period General unrestricted fund Designated funds: The Morrish Fund |
1 Sept 2023 £ 56,619 1,330 57,949 |
Income £ £ 51,142 ( 49,517) - ( 85) 51,142 ( 49,602) Expenditure |
Transfers £ - - - |
31 Aug 2024 £ 58,244 |
|---|---|---|---|---|
| 1,245 | ||||
| 59,489 |
The Morrish Fund has been established for assisting members to finance their subscription in cases of hardship.
| Prior period General unrestricted fund Designated funds: The Morrish Fund |
1 Sept 2022 £ 56,974 1,335 58,309 |
Income £ £ 49,590 ( 49,865) - ( 85) 49,590 ( 49,950) Expenditure |
Transfers £ ( 80) 80 - |
31 Aug 2023 £ 56,619 |
|---|---|---|---|---|
| 1,330 | ||||
| 57,949 |
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TONBRIDGE PHILHARMONIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
10 Related party transactions
The charity's key management personnel are the trustees. No trustees received any remuneration, benefits or reimbursement of expenses (other than for those expenses incurred on the charity’s behalf by the Trustees as agent for the charity) during the period (2023: none).
During the year, the spouse of one trustee charged fees for orchestral services amounting to £3,610 (2023: £3,155). In order to manage this conflict of interest, the trustee in question is removed from all discussions and decisions concerning this supply of services.
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