Registored Charity Number: 265052 NOR THAMPTON SYMPHONY ORCHESTRA FINANCIAL STATEMENTS AND TRUSTEE'S ANNUAL REPORT FOR YEAR ENDING ST 31 JULY 2024
NORTHAMPTON SYMPHONY ORCHESTRA Registered Charity Number. 265052 Légal and AdmlnlstratI Infomlation Page 1 Legal Name: Northampton Symphony Orchestra Registerod Charity Numbor. 265052 Addres•: 29 Valents'ne Way GEat Billlng Northampton NN3 9XD Tru•t•••: Mrs R Chapman - Chair Mrs C Hunt-vice Chair (appointsd 27.09.2023) Mr N Dean - Treasuw Mrs C Rich Mr F Jordan Mr S Blundell Ms J Grant Mi E Hall Ms C Malrtsk Mr M Sweet (resigned 27.09.2023) Mrs J Henderson (resigned 27.09.2023} Mrs S Bunker (appointed 27.09.2023) Mr G Tear (appointed 27.09.2023) Indopend•nt Examin•r: Brenda Peers-Ross 29 Diift Road Selsey West Sussex P020 OPW Bankers: Co•OP Bank PO Box 250 Skelmersdakg WN8 6wr
NORTHAMPTON SYMPHONY ORCHESTRA Registered Ctrarity Numbér.. 265052 Report of the Tru8tsos for tho y•ar endod 31 Juty 2024 Structure, Governan¢? and Managemont Type of governing documenL Constrtution adopted 12 June 1974 as amended 16 Juty 2003 and 17 June 2009 How Ihe charity is ¢onstiiuted.' AS1a'0n of mwnbers. Trustee selectbon methods.. Trustees are appointed or reappointed annualty at the Annual General Meeting Northampton Symphony Orchestra is a member of Making Music whh provides helpful advbce and s8rwces. Pago 2 ObJectlv•s and actlvities Summary of tho Objectiv of tho Charity To advance, improve. develop, and maintain public education in thè art and science of music in all aspects by th8 presentation of public orchestral concerts.. and for the general purposes of such charilable tM)dies or for such other wrposes as shall be exclusively charrtable as the cornmrttee may from tlne to time decide. Summary of the m•ln actlvltl•s In rolatlon to obJ•cts The Orchestra presented six concerts during this year. including fr48 for the general public and a final concert foi Friends of the Orchestra. Achl•vements and Perfomiance This has been a challenging year for the Orchestra. The Orchestra was able to perfom the usual six concerts during Ihis season. Due to ongoing cost increases and the losses made by the Orchesira over the last two sea80ns, the Commthe rnade the difficult decision to marginally increase ticket prices for this season. Despite this, our audience numbers remained consistent throughout the season. We therefore received incorne from ticket sales. sub51XiPtions. fundraising frorn EasyFundraising and raffle tkcket6 from the Friends conc8rL We have had the usual venue hire costs, MUSK hire. solobsl fees, Musical Director and Leador fees, and any other ad h(K fees relevant lo the running of the Orchestra. Memr$hIP We are again delighted to welcome back existing members arKI also to walcome some new ones. Given some ongoing cosl increases and the losses made by the Orchestra over the last trAo seasons. the C<)mmittee made the diffiwR docision to slighdy raise subscriptions for this season in order to cover rehearsal costs and ensure that the Orchestra can continue to operate. Friend•. Scheme The Friends. scheme continues to operate during this year. and the income frcm them Is vitally important to the Orchestra. and we thank them for their support for last year and in the coming year.
NORTHAMPTON SYMPHONY ORCHESTRA Registered Chanty Number. 265052 Page 3 Report of tho Trustees for the yoar endod 31 Juty 2024 Ticket Salos We have remained with our FX)licy to offer discounted seats to children at all ¢on¢erts, and have also started to offer a discount to NMPAT members and their families. as well as a group booking discount, in order to encourage and build higher audience members. We have also started offering 88ason tickets so audience members can attend a full season of conrtS at a discounted pric8. which has been a very Success1 initiative. Thanks Appreciation is due to all who ser4*e on the (xrfnrnittee. These essential rol88 have been fulfilled by considerae time Sacrif and without which the Orchestra could not operate. Thanks also goes lo our Musical Director for his support and guidance. We are also pleased to welcome new Vice Chair this season, along wilh a n8w Friends Secretsry and Orchestra Manager. We also 8xt8nd thanks to our preVuS Chair call Ricti, who has taken on the role of Secretary for this season. FUr• Plans We corrtinue to look forward lo hearsalS perfomiing challenging and innovating program$, inspiring audiences. and giving Northampton xcess to an Orchestra it can be proud of. Flnanclal Ravlaw The 0hestra,5 primary income is still member subs(xiptions to cover rehears81 costs and ticket sales to cover concert costs. The Frhgnds, m8mb8rship covers the costs of the Friends concert at the end of the season. Our rnaift expenses are rehearsal costs. concert hall and music hire and Conductorfs fees. The soloist fees for our concerts in Mah and June were covered by donations from a supporter of the Orchestra who wishes to remain anonymous, so we extend OUT thanks to them. We also reNe a donation from a member of Ihe Orchestra, Len Nobbs, who Sadly passed away during the season, and very kindly bequeathed some funds to the Orchestra. Ro8erv08 poIIcy Thè commrttee continued to deliver its policy whereby the unrestricted funds not committed (the free reserves) held by the chanty should b8 at least 12 months ofthe resources expended. Inv8•tmèni poIIcy The Orchestra has again benefrtted from the interest received from reseNes held at Markot Harborough Building Society in both the 60 day and 7-day notlce accounts. Bolh accounts are held under dual signatory and are protected by the FSCS and are held under dual signatory. Risk rovlew As sufficient funds are hekl in reserve, the is no immediate risk. However. the commlttee will otInUe to assess the situation and aGt acryxdingty.
NORTHAMPTON SYMPHONY ORCHESTRA Registered Charity Nurnb8r'. 265052 Page 4 Roport of the Trustees for the year ended 31 July 2024 Tru8tèe8 Members of the committee. who are trustees for the purpose of charity law. during the financial year are set out on page 1. Independent Examlner• CVS Northamptonshir8. the Independent Examiners who have been doing the examlnation of our accounts for many years. sadty closed rts doors for trading on June 2024. How8v8r. Brenda Peer&Ross. Ihe accountant from CVS who has been perfomiing the indepeTrJent examinations for us, is cx)ntinuing role independently. and has been appointed to undertake an Independent EXaMinatn of the Orchestra's accounts during the year and has expressed willingness to continue in that capacity. This report has been prepared in accordance with the Statement of Rernmended Practice SORP (FRS1021 Iss1 1•t October 2019, and the Charfties Act 2011. Publ1¢ Boneflt Statsment Northampton Symphony Ofche5tra promotes classical concerts which increase the anUnt of quality Ip40 classical music concerts in the Northamptonshire ar8a The Orchestra provides heavity discounted seals for und8r sixteens to encourage appreciation of orchestral music in the young. Through weekly rehearsals local musicians are provided an opportunty to engage in the art of classical music perfom)ance by playing in one of the leading amaleur orchestras in the UK. NSO does not provide tuitK)n. Responsibilities of the trustees The main obligation of the committee in preparing the 8ccounts 15 to gNe a Irue and falr vlew of the Orchestra's incoming resources and applicalTron of resources during the year and of it8 State of affairs at the end of the year. The committee ts responsible for maintaining prop8r accounting records which disclose with reasonablè accuw at any time the fi'nancial position of the Orchestra and to enable them to ensure that the financial statement$ cornp with the Statement of Recommended Pracbce A¢¢ountlng and Reporting by Charities. The committee is also responsible for safeguarding the assels of the Orchestra and hence for taking reasonable steps for the prevention and detection of fraud and other forms of abuse. Doclaration The trustees declare that they have approved the trustees, report and financial statements at a commiitee meeting held September 2024. Signed on behalf on Ihe t>oard of trustees. Mrs R Chaprnan ChairThrustee
Brenda Peers-Ross 29 Drift Road Selsey Chichè8ter West Sussex P020 OPW Independent Examinerfs Report to the Trustees ot NORTHAMPTON SYMPHONY ORCHESTRA Reglstered Charlty Number: 265052 I r8POrt on the accounts of the charity for the year eThJ8d 31# Juty 2024, whith arè set out on pages 6 10 10 of the financial report. Page 5 Thi8 report is rnle solely to ts Trust08s in accordarKe with Se1 4313) of the Charities Act 2011. My work has been undertaken so that I m4hl stsle to the Trustees thosè matters which I am required lo stste to them in an irKlependent examine¢s pty1 arAI for no other purpose. To fvlle$l extent pemiitted by law. I do not accept responsibilty lo anyon6 other than the Tru8tee$ for my work, for thls report. or for the opwiions I have form&J. Ro•p•etlv• Y••pon•lblllllM of tru•to0• and examlner As described on p48 5 the Charity's Twstees are responsible for the preparation of ac¢ount$'. you consider thal the audit requirements ol Section 144 12} of the charit Act 2011 (the Acll doe$ not appty. It 1$ my responsibilty to state. on th8 basis ol procedures sp8¢rfied in tho General Directlons glven by the Charity C¢vnmission und8r Sect 156 of the Art, whether pa7ty¢ular matters hav8 1)Th to my attenlion. Ba•1• ol Ind•p•nd•nt •xamln•f• •t•tsm•nt My examinatson was carried out in a¢¢ordance with general Directions given by th8 Charrty Commission. An examination includes a revw of the a¢countsng records kept by th8 charity and comparison of the accounts, presented wth those re¢ords. 11 al80 includes nSerat)n of any unusual ttems OT disclosures of the accounts and seekiThJ explanations from you as trustee8 c£Jnceming any such matters. The procedures undertaken do not prO¥e all the evKlence that would be required in an audit, and consequentty no opinion 15 given as lo whether the accoLsnts prèsént a 'truo and fair v,. th8 report is limthj to those matter8 8Ot out in th8 statement below. Ind•pendgnt Examln•ff• •t•tom•nt I hav8 completed my examination. I Confi that no rnatte have ¢>Jme io my attention". which me reasonable cause to believe that in any maten'al r88pect thè requirements.. to keep acc¢)untlng recx)rds in accordance with Secli)n 130 of tho Acl.. to prepare Onts which accord with the accounting rerJJrd¥ and to comply wrth the a¢cA)untirKJ rncords of the Ac* have not been mot. or in my opinKJn, attention Should be drawn to enable a proper understanding of the accounts to be Teach. Brenda Peers•Ross FMAAT. ACIE 5th September 2024
NORTHAMPTON SYMPHONY ORCHESTRA Registered Chanty No. 265052 Page 6 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024 unrtrIctad Re8trict8d 2024 2023 Not• Incomo and Endowm•nts fr(xn: Donalions and Legacies Charitable Aclivibes Investments 6,317 31,704 1,317 6,317 31.704 1.317 43 39.381 656 28,018 479 27.917 T¢)tal In¢om• and •ndowm•nts 39.381 Ewndltur• on: Raising Funds Charitable Activities other Total EXpendIr0 30,958 30.958 31.370 30.958 30.958 31,370 Net Incom(Expendlrfj} 8.423 8,423 3,453 Tran8fer bet4Ken funds N•1 mov•m•nt In fund• 8,423 8.423 (3.453) Total funds brought forward 48.776 48,778 52,229 Totsl fund¥ Garrl•d ft)rw4rd 57.199 57,199
NORTHAMPTON SYMPHONY ORCHESTRA Registsre(I Charity No. 2650S2 Poge 7 BALANCE SHEET AS AT 31 JULY 2024 Unmtrkted R¢•triGted 2024 2023 Currenl A8••t• Debtor Cash at 8ank a1 in Harxl 51 59.040 59,091 51 S9,040 59,091 22 49,771 49.793 Cr•ditorn - Amounts falling du• within ono y•4r 1,892) 1,892) 11.892 1,892 1,017 1,017 Net curnent a¥wts (liabilitw) 57,199 57,199 48,776 Net assets Iliabililies) 57,199 57,199 48,776 Tot•1 Unr••trkl•d RMtrl¢t•d 31.07.24 Tot•1 31.07.23 Charfty Fund•: Unre8lric*ed Fund8 R8Stri¢led Funds 57,199 57,199 48,778 57.199 57, .77 The financlal statements were approved by the Board of Trustees on 2rKI September 2024 and and signed on Iheir behaff. Mr8 R Chapman ChalrrrnMts• Notes on pages 8 to 10 form part of IIE thancial slaternents.
NORTHAMPTON SYMPHONY ORCHESTRA Registered Charity No. 265052 P•go 8 Notes to tho Accounts ACCOUNTrNG POLICIES PRINCIPAL ACCOUNTING POUCIES Basis of preparation The financial staternents have been prepared uNler the historical cost convention. Thè financial statements have been prepared in accordance with the Ststem8nl of Recommended Prartice. "A¢Gotsnting and ReFthing by Chaiiw" aThJ SORP (FRS1021 i88ued on 1st October 2019, and applKAble UK AoyJuntir¥J Standard and the Charities P£t 2011. Fixod Ass•ts There are no fixed a88ets. Incom• Income is brought into xcount on r8cavable basks In the year in receNed. Intanglbl• Incom• Intangibl& income, in the lorm of donated fa01rt8 and voluntary help etc., is not induded In Ihe th'nancial statements Sin it is not considered pra¢kn'cable to quantify such income. Expendltur Expenditure is ¥tsted inclusiw of value athjed tax, is brought into account in the year In which il 18 due. Ragources expended are allocated lo the particular activrty whore th8 Costs relate8 directly to the activity. Unrngtrlct•d fund• Unrestrictsd funds aro donations aftd Oth Irthming resource6 recewable or generated for the objects of the charfty Wittrt fvther spe¢if* puwws and aTe as general funds. Desbgnated funds aro unrostricled funds a desKJnated by the eorrmittee for particular purposes. Re8trlct•d fund• Restricted funds are to be u$8d for Speaf purpD8e8 as Lgid dr ty tho donormunder. There are currentty no re8tricbJ funds.
NQRTHAMPTON SYMPHONY ORCHESTRA Registered Charity No. 265052 Page 9 Notes to the Accounts 2024 2023 Charltable Actlvltle Members Subscription Fundraising Friends of NSO Ticket sales Grft Aid 11.328 183 2.065 16.798 1.330 31.704 11.328 183 2.065 16.798 1,330 31.71M 9.845 194 1.600 13.144 1,235 26,018 Ch4rltabl• klivlti Unr•stricted Re¥tri¢ted 2024 2023 Rehearsal costs Printrng, marketirYJ Soloist5 Conductors concert fees Leaders. concert fees Other cOn(rt expenses Sundnes, insurance etc. Concert hall hlre Music hire Extra players fees Musical instrumwts tuning el¢ Website PorfomirKJ Trahts etc. Independent examination 9.544 1,659 2.458 9,245 1,244 3,600 3,150 1.659 2,458 1.120 3.385 1.120 3,385 599 3,847 1.706 1.060 569 788 3,348 543 3,212 2,059 2,275 726 3.847 1,7 569 359 30,958 359 30,958 480 31,370 DpbtsT• UnM•tri¢tsd R•¥tri¢t•d 2024 2023 other Pre-paKI HMRC 51 51 22 51 51 22 Ca•h at bank arKI in hand 2024 2023 Current Account Market Harborough Building Scciety Ca$h in hand 3,313 55,667 60 59,040 3,313 55.687 60 59.040 880 48,851 80 49,771
NORTHAMPTON SYMPHONY ORCHESTRA Registered Charty No. 2e5052 Page 10 Notos to tho Accounts Note Crodltors: amounts falling du• wrthin on• y•ar UTrr•8trl¢t•d R•8tri¢lod 2024 2023 &Jndry Credrtors Accruals (1,5921 3001 11,692 (1.5921 3001 1.892 {617) 4001 1.017 2024 6 UnrHtr1Ct fund• Op•nlng 8•14nce IAov•m•nt Movement 01.08.23 In Out Clo•lng Balance Tran8f•rn 31.07.24 Gener81 Reser4e 48.776 48,776 39.381 39,381 130,958 30,958 57,199 57.199 Unrestricled hjnds Opening Balan¢ Mo¥ernent Mo¥eThwt 01.08.22 In Out Closing BalanGry 31.07.23 Transfers Gen8r81 Re8e 52,229 .229 27.917 27.917 31,370) 31,370 48,778 48,776 The tru8tee8 agreed to desrgnale unfegtricted fuThls to build up 8 - 12 months general reser¥es to cover running co8t8 in thè event of a SYnrfant drop in fundirvj. 2024 Ro8tri¢t•d fund• Op•nlng There no restn'cted funds Balanc• Mov•m•nt IAov•m•nl 01.08.23 In Out CIo8sng Bal¥nco Tran•f•rn 31.07.24 Comparative 2023 Restricted lunds Openlng There are restrided lunds Balance MoVemrt llknmt 01.08.22 In Out Closing 8alan 31.07.23 Transfers 8 Ultlmats Controlllng Party Northampton SyThphony Orche5tr4 is a registerj tharity contro15ed aThJ man&Jed by the trustees named pagé 1 of the TrLtstee's Annual Repc¥L