Norwich Philharmonic Society
Registered Charity No. 264425
Financial Statements
Year ended 30th April 2024
Trustees Annual Report for the period 1 May 2023 to 30 April 2024
Charity's principal address Mrs C Dixey Rushlight Barn Birch Way Mundham Norwich NR14 6EN
Website http://www.norwichphil.org.uk
Charity Trustees Caroline Dixey Chairman Catrina Nixon Vice Chairman Alison Rhodes Secretary Kate Anetts Treasurer & Friends’ Secretary Sally West-Lindell Choir Secretary Alexandra Atherton Choir Representative Paul Henderson Choir Representative Rob Barnes Orchestra Secretary Judy Tryggvason Orchestra Representative Steve Kent-Davies Orchestra Representative Caroline Furniss Orchestra Librarian Alison Guy Public Representative 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. Two Family Concerts during the year brought in new audiences with young families.
Financial Review
We budgeted for a small deficit (£723) to allow for high projected costs for the cathedral concert in March. Higher income and lower (but still expensive) costs on this event balanced the lower income and higher costs than expected on the other concerts in the season.
A capital purchase of £1,650 was made, for tubular bells.
There were no payments to Trustees during the year.
Net receipts for the year are a surplus of £3,320. Allowing for outstanding costs on concerts and administration gives a working net surplus of £1,551.
Reserves Policy
The Society works to a break-even annual budget, with the expected concert financial deficit offset by subscriptions, fundraising and Gift Aid income.
The Society aims to maintain unrestricted net current assets of around 100% of the concert season expenditure, (currently £60,000 - £65,000) 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 (£75,647). Total net assets (£115,632) include investment assets held in relatively low yield, low risk investments. This policy is subject to periodic review by the committee. Grants and donations of £7,000 towards the Strangers project are held in a separate account, which will be returned to donors if the project does not take place..
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 (Chair) date
| Norwich Philharmonic Society Year ended 30 April 2024 RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 30 APRIL 2024 Receipts unrestricted restricted total £ Concert income 42,747 42,747 Family concerts income 6,336 6,336 Subscriptions 18,221 18,221 Fundraising 9,674 9,674 Gift Aid 3,970 3,970 Donations & Legacies 574 574 Interest 724 724 Investment income 1,199 1,199 Choir training, Koblenz - - Orchestra training - - Strangers project - Total receipts 83,445 - 83,445 Payments unrestricted restricted total £ Concerts costs 60,268 60,268 Family concerts costs 4,735 4,735 Fundraising 6,474 6,474 Membership administration 91 91 General administration 664 664 Insurance, subs, audit 738 738 Capital purchases 1,650 1,650 Choir training, Koblenz 2,051 2,051 Orchestra training 57 57 Choral conductor selection 250 250 Deposits prepayments 57 57 Prior year 3,091 3,091 Strangers project - Total payments 78,074 2,051 80,125 Net Receipts 5,371 2,051 - 3,320 Cash funds brought forward 63,013 3,353 66,366 Transfer of restricted/designated funds 0 Cash funds carried forward 68,384 1,302 69,686 ASSETS AND LIABILITIES AS AT 30 April 2024 unrestricted restricted total £ Cash Funds COIF deposit account 10,870 10,870 Virgin Money deposit 20,666 20,666 Cash at bank 36,848 1,302 38,150 Total Cash Funds 68,384 1,302 69,686 Other monetary assets (debtors) 1 5,500 5,500 Liabilities 2 1,763 1,763 Current assets (net) 75,647 1,302 76,949 Investment assets (at cost) 33,854 33,854 Retained (fixed) assets 3 4,829 4,829 Total assets 114,330 1,302 115,632 NOTES (1) Debtors Gift Aid 5,500 Piano fund grant 5,500 (2) Liabilities Concert costs 553 Family concert 200 PRS 500 100 club 510 1,763 (3) Retained assets net book value at 1/5/23 £ Additions £ Depreciation at 25% £ £ NBV at 30/4/24 Timpani, Trailer, Equipment 56 168 Instruments, Cases 56 167 Celeste, Glockenspiel 417 1,252 Staging & Acoustic Screens 650 1,949 Music Stands 19 56 Tubular Bells 1,650 413 1,238 1,650 1,610 4,829 2023/24 2023/24 2023/24 2,599 4,788 1,669 74 224 222 |
Strangers account 5,000 5,000 Strangers - - 5,000 2,000 7,000 Strangers 7,000 7,000 7,000 7,000 |
2022/23 £ 32,913 14,809 3,024 3,471 748 264 1,409 200 250 2,000 |
|---|---|---|
| 59,088 | ||
| 2022/23 £ 51,222 1,603 256 755 708 1,319 - 616 - - 220 - |
||
| 56,698 | ||
| 2,390 65,976 0 |
||
| 68,366 | ||
| 2022/23 £ 10,400 20,463 37,503 |
||
| 68,365 | ||
| 3,600 (3,175) |
||
| 68,790 | ||
| 33,854 4,787 |
||
| 107,431 | ||
| 3,000 600 |
||
| 3,600 | ||
| 2,005 400 700 70 |
||
| 3,175 | ||
L C Dixey L C Dixey (Chair)
K B Anetts K B Anetts (Treasurer)
29-May-24
29-May-24
1
Norwich Philharmonic Society Year ended 30 April 2024
Independent Examiner’s report
I report on the accounts of the Norwich Philharmonic Society for the year ended 30 April 2024 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
Crispin de Boos The White House Sandfield Lane Eccles Norwich NR16 2PB