_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,_ - _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_ _Crispin de Boos The White House Sandfield Lane Eccles Norwich NR16 2PB_