Norwich Philharmonic Society
Registered Charity No. 264425
Financial Statements
Year ended 30th April 2023
Trustees Annual Report for the period 1 May 2022 to 30 April 2023
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 (to December 2022) Mrs Sally West-Lindell Choir Secretary Ms Alexandra Atherton Choir Representative Mr Paul Henderson Choir Representative Mr Rob Barnes Orchestra Secretary Mrs Judy Tryggvason Orchestra Representative Mr Steve Kent-Davies Orchestra Representative Mrs Alison Guy Public Representative Mr Simon Suter Public 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 and to members of the Norfolk Youth Orhestra.
Financial Review
We budgeted to break even, with a concert deficit to be offset by subscriptions, fundraising and Gift Aid. These offset sources of income were as budgeted. Concert expenses were lower but concert income was below the budgeted figure. Income also includes a one-off donation towards the future Strangers project with the N&N Festival in 2025, (this donation is held as a Restricted fund) and so the season overall resulted in a surplus of £2,390
Capital purchases of £1,319 were made, covering timpani maintenance. There were no payments to Trustees during the year. Net receipts for the year are a surplus of £2,390.
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 (£63,437). Total net assets (£107,431) 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, Sandfield 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
L C Dixey (Chair) date 17 May 2023
Norwich Philharmonic Society Year ended 30 April 2023 RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 30 APRIL 2023
| Receipts Subscriptions Prior year receipts Receipts next year Strangers project Concert income Fundraising Donations & Legacies Gift Aid General Interest Choir training Orchestra training Income from investments Total receipts Payments Membership administration Fundraising Concerts General administration Insurance, subs, audit Deposits prepayments N&N Festival Capital purchases Investment purchases Choir training Orchestra training Prior year Total payments Net Receipts Cash funds brought forward Transfer of restricted/designated funds Cash funds carried forward |
unrestricted £ restricted £ total £ 14,809 14,809 - - - - 2,000 2,000 32,913 32,913 3,024 3,024 748 748 3,471 3,471 - - 264 264 200 200 250 250 1,409 1,409 56,888 2,200 59,088 unrestricted £ restricted £ total £ 256 256 1,603 1,603 51,222 51,222 755 755 708 708 - - - - 1,319 1,319 - - - - 616 616 220 220 56,698 - 56,698 190 2,200 2,390 62,823 3,153 65,976 0 63,013 5,353 68,366 2022/23 2022/23 |
2021/22 £ 14,530 - 52 - 21,811 1,656 531 6,870 - 35 2,000 1,362 |
|---|---|---|
| 48,847 | ||
| 2021/22 £ 163 73 58,822 216 630 184 - 4,620 - - 1,203 - |
||
| 65,911 | ||
| (17,064) 83,040 0 |
||
| 65,976 |
ASSETS AND LIABILITIES AS AT 30 April 2023
| FIXED ASSETS Timpani, trailer, equipment Instruments, folders celeste, glockenspiel, cases staging & acoustic screens music stands drum cases, engraving NOTES (1) Debtors (2) Liabilities |
unrestricted £ restricted £ total £ COIF deposit account 10,400 10,400 Virgin Money deposit 20,463 20,463 Cash at bank 32,150 5,353 37,503 Current assets 63,012 5,353 68,365 Debtors (1) 3,600 3,600 Liabilities - accrued (2) (3,175) (3,175) Net current assets 63,437 5,353 68,790 Investments at cost 33,854 33,854 Fixed assets (see below) 4,787 4,787 Total net assets 102,078 5,353 107,431 net book value at 1/5/22 Additions Depreciation at 25% net book value at 30/4/23 £ £ £ 75 224 69 207 556 1,669 866 2,599 25 74 5 15 - 1,596 4,787 2022/23 Gift Aid 3,000 Piano fund 600 3,600 - concert costs 2,005 publicity 400 PRS 700 100 club 70 3,175 L C Dixey K B Anetts 2022/23 3,465 6,382 2,225 98 20 £ 299 276 |
unrestricted £ restricted £ total £ COIF deposit account 10,400 10,400 Virgin Money deposit 20,463 20,463 Cash at bank 32,150 5,353 37,503 Current assets 63,012 5,353 68,365 Debtors (1) 3,600 3,600 Liabilities - accrued (2) (3,175) (3,175) Net current assets 63,437 5,353 68,790 Investments at cost 33,854 33,854 Fixed assets (see below) 4,787 4,787 Total net assets 102,078 5,353 107,431 net book value at 1/5/22 Additions Depreciation at 25% net book value at 30/4/23 £ £ £ 75 224 69 207 556 1,669 866 2,599 25 74 5 15 - 1,596 4,787 2022/23 Gift Aid 3,000 Piano fund 600 3,600 - concert costs 2,005 publicity 400 PRS 700 100 club 70 3,175 L C Dixey K B Anetts 2022/23 3,465 6,382 2,225 98 20 £ 299 276 |
unrestricted £ restricted £ total £ COIF deposit account 10,400 10,400 Virgin Money deposit 20,463 20,463 Cash at bank 32,150 5,353 37,503 Current assets 63,012 5,353 68,365 Debtors (1) 3,600 3,600 Liabilities - accrued (2) (3,175) (3,175) Net current assets 63,437 5,353 68,790 Investments at cost 33,854 33,854 Fixed assets (see below) 4,787 4,787 Total net assets 102,078 5,353 107,431 net book value at 1/5/22 Additions Depreciation at 25% net book value at 30/4/23 £ £ £ 75 224 69 207 556 1,669 866 2,599 25 74 5 15 - 1,596 4,787 2022/23 Gift Aid 3,000 Piano fund 600 3,600 - concert costs 2,005 publicity 400 PRS 700 100 club 70 3,175 L C Dixey K B Anetts 2022/23 3,465 6,382 2,225 98 20 £ 299 276 |
2021/22 £ 10,189 20,409 35,378 |
|---|---|---|---|---|
| 65,976 | ||||
| 2,000 (1,940) |
||||
| 66,036 | ||||
| 33,854 6,382 |
||||
| 106,272 | ||||
| 2021/22 2,000 |
||||
| - 1,596 6,382 |
||||
| Gift Aid Piano fund concert costs publicity PRS 100 club L C Dixey |
||||
| 2,000 | ||||
| - - |
||||
| - | ||||
| K B Anetts |
L C Dixey
L C Dixey (Chair)
K B Anetts (Treasurer)
1
Norwich Philharmonic Society Year ended 30 April 2023
Independent Examiner’s report
I report on the accounts of the Norwich Philharmonic Society for the year ended 30 April 2023 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:
-
examine the accounts under section 145 of the Charities Act,
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follow the procedures laid down in the general Directions given by the Charity Commission
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under section 145(5)(b) of the Charities Act, and
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state whether particular matters have come to my attention.
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:
- (1) which gives me reasonable cause to believe that in any material respect the requirements
· to keep accounting records in accordance with section 130 of the 2011 Act and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met or
(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 17 May 2023
Crispin de Boos The White House Sandfield Lane Eccles Norwich NR16 2PB