_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,_ - _follow the procedures laid down in the general Directions given by the Charity Commission_ - _under section 145(5)(b) of the Charities Act, and_ - _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_