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2022-04-30-accounts

Norwich Philharmonic Society

Registered Charity No. 264425

Financial Statements

Year ended 30th April 2022

Trustees Annual Report for the period 1 May 2021 to 30 April 2022

Charity's principal address Mrs C Dixey Rushlight Barn Birch Way Mundham Norwich NR14 6EN

Website http://www.norwichphil.org.uk

Charity Trustees

Mrs Caroline Dixey Chairman Ms Catrina Nixon Vice Chairman Ms Alison Rhodes Secretary Ms Kate Anetts Treasurer & Friends’ Secretary Mrs Sue Prutton Front of House Manager Mrs Sally West-Lindell Choir Secretary Ms Alexandra Atherton Choir Representative Mrs Frances Beadle Choir Representative Mr Rob Barnes Orchestra Secretary Mrs Judy Tryggvason Orchestra Representative Mr Steve Kent-Davies Orchestra Representative

Structure, Governance and Management

Governing Document

Norwich Philharmonic Society is constituted as an arts and music trust with the Charity Commission under charity number 264425. It is governed by a constitutional document.

Recruitment and appointment of trustees

Trustees are elected annually at the AGM (excluding the Chairman and Vice Chairman who are elected every third AGM).

The trustees are responsible for the recruitment of new trustees, who are elected at the AGM. If the Society needs to replace a trustee mid-season, the trustees will appoint as they see best for the Society.

Potential trustees are invited to attend a meeting and/or meet with the chairman to discuss the position in greater detail. This allows due consideration of the person’s eligibility, personal competence, specialist knowledge and skills. On appointment to the committee all new members are briefed on the aims of the Society and the responsibility they hold.

Organisation Structure

The charity trustees are responsible for the general control and management of the charity, covering the running of the Society and the concerts held. They give their time freely and receive no remuneration or other financial benefits other than reimbursement for expenditure on behalf of the Society

The trustees meet together as a body at least four times a year and are responsible for all the decisions taken in relation to the running of the Society and the concerts held. To assist in the smooth running of the charity the trustees have set up sub committees to oversee aspects of the concert organisation, including publicity, choir and orchestra

Risk Management

The trustees have assessed the risks the charity faces and have implemented systems to mitigate these. The trustees are satisfied that systems are in place, or arrangements are in hand, to manage the risks that have been identified. In particular insurance cover is in place, and the finances are kept under regular review

Objectives and Activities

The Society aims to educate the public in the arts and sciences, and in particular the art and science of music, by the presentation of concerts and other activities.

The Society holds five concerts each year, these are supplemented by the subscriptions of the Society's members together with fundraising events held during the year.

The trustees have given due regard to the Charity Commission’s guidance on public benefit and have complied with their duties as detailed in the Charities Act 2011 with regard to public benefit. Careful consideration has been given to the accessibility of the Society to as wide a community as possible. Reduced membership rates are offered to student members of the Choir and Orchestra and reduced price admission to all concerts is offered to students.

Financial Review

We budgeted to make a one-off loss to allow for fewer, socially distanced ticket sales and for the choir and orchestra to perform separately in line with the Covid restrictions, offering two extra orchestral concerts and using a small professional band to accompany the choir in March. The loss was further increased by the lastminute cancellation of the Christmas concert and by lower than expected attendance at the first two concerts of the season and the season resulted in a deficit of £17,064.

Capital purchases of £4,620 were made, covering acoustic screens and staging,. There were no payments to Trustees during the year. Net receipts for the year are a one-off deficit of £17,064.

Reserves Policy

The committee has agreed that the Society should work to a break-even budget each year, once the concert financial performance and other sources of income have been taken into account.

The Society aims to maintain unrestricted net current assets of around 100% of the concert season expenditure, (currently £50,000 - £60,000) to cover any significant fall in income and as a contingency against unexpected events and any shortfall in cash flow.

Restricted fund reserves are maintained in accordance with the benefactors’ wishes.

Any remaining net current assets are treated as designated funds, set by the committee for development, education and training and for capital projects.

Development, education and training covers special performances, development and sustainability, commissioning a choral work and encouraging a younger membership.

Capital projects covers the purchase and replacement of instruments and equipment, also renewals and repairs.

Norwich Philharmonic Society holds an adequate level of unrestricted net current assets as reserves (£62,883). Total net assets (£106,272) include investment assets held in relatively low yield, low risk investments. This policy is subject to periodic review by the committee.

Bankers

HSBC Bank of Scotland Lloyds Bank 18 London Street PO Box 1000 PO Box 1000 Norwich, NR2 1LG BX2 1LB Andover

Independent Examiner

Crispin de Boos

The White House, Sandford Lane, Eccles, Norwich NR16 2PB

Declaration

The trustees declare that they have approved the Trustees’ Report above.

Signed on behalf of the charity’s trustees

L C Dixey (Chair) date 20 June 2022

Norwich Philharmonic Society Year ended 30 April 2022 RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 30 APRIL 2022

Norwich Philharmonic Society
Year ended 30 April 2022
RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 30 APRIL 2022
Receipts
unrestricted £
restricted £
total £
Subscriptions
14,530
14,530
Prior year receipts
-
-
Mahler 3 this year
-
-
Concert income
21,811
21,811
Fundraising
1,656
1,656
Donations & Legacies
531
531
Gift Aid
6,870
6,870
General
-
-
Interest
35
35
Choir training
2,000
2,000
Income from investments
1,362
1,362
Total receipts
46,847
2,000
48,847
Payments
unrestricted £
restricted £
total £
Membership administration
163
163
Fundraising
73
73
Concerts
58,822
58,822
General administration
216
216
Insurance, subs, audit
630
630
Deposits prepayments
184
184
Mahler3 this year
-
-
Capital purchases
4,620
4,620
Investment purchases
-
-
Choir training
-
-
Orchestra training
1,203
1,203
Prior year
-
-
Total payments
65,911
-
65,911
Net Receipts
(19,064)
2,000
(17,064)
Cash funds brought forward
81,887
1,153
83,040
Transfer of restricted/designated funds
0
Cash funds carried forward
62,823
3,153
65,976
ASSETS AND LIABILITIES AS AT 30 April 2022
unrestricted £
restricted £
total £
COIF deposit account
10,189
10,189
Virgin Money deposit
20,409
20,409
Cash at bank
32,225
3,153
35,378
Current assets
62,823
3,153
65,976
Debtors
(1)
2,000
2,000
Liabilities - accrued
(2)
(1,940)
(1,940)
Net current assets
62,883
3,153
66,036
Investments at cost
33,854
33,854
Fixed assets (see below)
6,382
6,382
Total net assets
103,119
3,153
106,272
FIXED ASSETS
net book value
at 1/5/21
Additions
Depreciation
at 25%
net book value at
30/4/22
£
£
£
Timpani, trailer, equipment
100
299
Instruments, folders
92
276
celeste, glockenspiel, cases
742
2,225
staging & acoustic screens
4,620
1,155
3,465
music stands
33
98
drum cases, engraving
7
20
4,620
2,127
6,382
NOTES
2021/22
(1) Debtors
Gift Aid
2,000
2,000
(2) Liabilities
-
music hire
800
-
PRS
630
100 club
510
-
1,940
2021/22
2021/22
2021/22
3,889
2,966
131
26
£
398
368		 2020/21
£
11,988
238
1,221
1,071
260
4,293
15
135
2,000
1,210
22,431
2020/21
£
154
550
12,780
303
457
960
-
1,555
1,350
2,498
20,608
1,823
81,217
0
83,040
2020/21
£
10,181
20,382
52,477
83,040
5,000
88,040
33,854
3,889
125,783
2020/21
5,000
5,000
-

L C Dixey (Chair)

K B Anetts (Treasurer)

1

Norwich Philharmonic Society Year ended 30 April 2022

Independent Examiner’s report

I report on the accounts of the Norwich Philharmonic Society for the year ended 30 April 2022 which are set out on the preceding pages.

Respective responsibilities of Trustees and Examiner

The charity’s trustees are responsible for the preparation of the accounts.

The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act), and that an independent examination is needed. It is my responsibility to:

Basis of the Independent Examiner’s report

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below.

Independent Examiner’s statement

In connection with my examination, no matter has come to my attention:

· to keep accounting records in accordance with section 130 of the 2011 Act and

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Independent Examiner

date 10 June 2022

Crispin de Boos The White House Sandfield Lane Eccles Norwich NR16 2PBi