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2021-07-31-accounts

THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2021

FINANCIAL STATEMENTS

THE HERTFORD SYMPHONY ORCHESTRA

YEAR ENDED 31 JULY 2021

Page 1

THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2021

CONTENTS

Orchestra information 3
Orchestra Committee Report 4
Orchestra Committee’s responsibilities 5
Independent Examiners Report 6
Balance Sheet 7
Income & Expenditure Account 8
Notes to the accounts 9-10

Page 2

THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2021

ORCHESTRA INFORMATION

Music Director/Conductor Tom Hammond Leader Margaret Holter Chairman: Andy Medhurst Honorary Secretary: Nick Gazey Honorary Treasurer: Monique Blackford Independent Examiner Matt Nendick Orchestra Committee Members:- See Committee’s report Registered Office 35 St Leonard’s Road, Bengeo, Hertford, Herts, SG14 3JW Charity Registration Number 270513 Bankers National Westminster Bank Plc 104 Fore Street Hertford Herts SG14 1YY

Page 3

THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2021

ORCHESTRA COMMITTEE’S REPORT

The Orchestra Committee presents their report and accounts for the year ended 31 July 2021.

Principle Activities:

The principle activities of the Orchestra in the year under review are to promote live music by putting on concerts in the East Herts area including involving schools in Children’s and Christmas concerts, and to increase the standards of the local amateur musicians by engaging professional musicians to work with and tutor.

Season Review :

A summary of the Orchestra’s results for the year is found on page 7 to the financial statement.

The Orchestra continues to obtain its main income from concerts given for the general public and from subscriptions from its members, Friends and Patrons, however during the Covid-19 Pandemic and Government Restrictions, it was not possible to perform any concerts during this season.

The expenditure is related to the costs of putting on the rehearsals and associated expenses of insurance, Making Music Membership and other indirect costs.

Orchestra members were able to meet for rehearsals when government restrictions permitted and the invitation to play was extended to players outside of the usual membership.

The ability to switch from our usual rehearsal venue at Mill Mead School to the Ware Drill Hall (considered a Covid-safe venue) was key to the orchestra continuing to play music.

In November 2020 we received a generous donation from the Robert Kiln Charitable Trust following the winding up of the Trust. HSO will use this donation to continue the wonderful children’s concerts. Therefore this money has been ring-fenced for activities associated with this concert.

Orchestra Committee Members:

The following people served on the Orchestra Committee during the year.

Chairman: Andy Medhurst (Trustee) Librarian: Jane Eldred Honorary Secretary: Nick Gazey Orchestra Manager: Diana Salthouse Honorary Treasurer: Monique Blackford Andrew Pummell Katie Neilson Jill Valentine Chris Woodrow Margaret Holter (Leader) Claire Lovegrove.(Trustee)

Signed on behalf of the Orchestra Committee

Monique Blackford Honorary Treasurer 25 May 2022

Date:

Page 4

THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2021

STATEMENT OF THE ORCHESTRA COMMITTEE’S RESPONSIBILITIES

Charity law requires the Orchestra Committee to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the Orchestra and of the surplus or deficit for that period. In preparing those statements, the Orchestra Committee is required to:

The Orchestra Committee is also responsible for maintaining proper accounting records as required by Part 8 of the Charities Act 2011, which disclose with reasonable accuracy at any time the financial position of the Orchestra and which are sufficient to show and explain the Orchestra’s transactions and enable them to ensure that the financial statements are in accordance with the accounting and reporting framework provided by the Charities Act 2011.

It is also responsible for safeguarding the assets of the Orchestra, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 5

THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2021

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HERTFORD SYMPHONY ORCHESTRA

Page 6

THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2021

BALANCE SHEET £
31.07.2021		 £
31.07.2020
Fixed Assets
Staging
Stage piano, case & stand
Total Fixed Assets
Less Depreciation
Net Fixed Assets
Current assets
Debtors: amounts falling due
within one year
Debtors: amounts falling due
after one year
Reserve
Treasurer's Current Account
Pre-Payments
Total current assets
LESS
Creditors: amounts falling
due within one year
Creditors: amounts falling
due after one year
Equipment
Total Net Assets
REPRESENTED BY:
Accumulated Fund Brought
Forward From previous year
Current Year
Surplus/(Deficit)
Accumulated Fund
Carried Forward
1,449
214
40,000
11,806
0		 65
595
660
82
578
2,163
302
15,000
10,651
250
28,366
985
177
1,162
27,204
27,782
28,290
-508
27,782
53,469
18
208
226
Approved By: Date
Chairman A Medhurst 17.05.2022
Trustee A Medhurst 17.05.2022
Treasurer HM Blackford 17.05.2022

Page 7

THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2021

Income and Expenditure Account to 31 July 2021

Note
INCOME
Ticket Sales
(4)
0
HSO Subscriptions
3,538
FOHO Subscriptions
77
Gift Aid
1,232
Programme advertising
200
Refreshments
0
TOTAL INCOME
5,047
LESS
DIRECT COSTS
Rehearsal Costs
(5)
4,527
Venue Hire
0
Staging
0
Professional Expenses
(6)
0
Instrument Hire
0
Posters
0
Concert Programmes
0
First Aid
0
4,527
GROSS
SURPLUS/DEFICIT
520
Donations Received
(7)
26,019
LESS
INDIRECT COSTS
Depreciation
69
Brochures and Programme
Covers
0
Advertising
0
Performing Rights &
Making Music Membership
275
Miscellaneous Costs
93
Insurance
132
Administration Costs
0
569
NET SURPLUS/DEFICIT
25,970
Write Offs
(8)
52
CURRENT YEAR SURPLUS/DEFICIT
25,918
2020-2021
£		 9,914
6,562
1,715
1,283
25
115
19,614
6,785
3,070
280
10,754
0
512
660
300
22,360
-2,746
3,750
82
145
115
605
130
132
0
1,209
-205
303
-508
2019-2020
£		 9,914
6,562
1,715
1,283
25
115
19,614
6,785
3,070
280
10,754
0
512
660
300
22,360
-2,746
3,750
82
145
115
605
130
132
0
1,209
-205
303
-508
2019-2020
£
-205
303
-508

Page 8

THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2021

NOTES TO THE ACCOUNTS

1. Accounting Policies

a) Basis of Accounting:

The Charities (Accounts and Reports) Regulations 2008 require the methods and principles of The Statement of Recommended Practice - Accounting and Reporting by Charities (SORP), issued in March 2005 to be followed when accounts are prepared under the Charities Act 2011

SORP sets out the recommended practice for the purpose of preparing the Trustees' Annual Report and for preparing the accounts on the accruals basis.

b) Income:

Income this season represents subscriptions, donations and Gift aid on donations..

c) Cashflow statement:

The Orchestra Committee has taken advantage of the exemptions in Financial Reporting Standard No. 1 from producing a cashflow statement on the grounds that it is a small charity.

d) Depreciation:

Depreciation is provided on all fixed assets, so as to write off the assets over their useful economic lives:

e) Taxation

The Orchestra is not able to claim rebates on Value Added Tax.

2. Income

The income and surplus/deficit are attributable to the principle activities of the Orchestra.

The Orchestra maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the principle activities of the Orchestra.

Restricted funds have been provided to the Orchestra for particular purposes and it is the policy of the Orchestra Committee to carefully monitor the application of those funds in accordance with the restrictions placed upon them.

3. Reserve

The Orchestra has a policy of maintaining adequate reserves to accommodate a reasonable degree of unforeseen financial circumstances and to provide a sound financial basis for undertaking innovative activities, either independently or in conjunction with other societies. Such non-routine activities would normally carry a higher financial risk than the usual pattern of concerts in Hertford.

The donation of £25,000 from the Robert Kiln Charitable Trust has been added to the Reserves.

Page 9

THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2021

2019-2020

NOTES TO THE ACCOUNTS 2020-2021

£ £

Note 4 Ticket Sales
November
Christmas
Children's
March
May
June/July
Note 5 Rehearsal Costs
Hall Hire
Music Hire incl commissions
Conductor
Guest Conductor
Leader
Note 6 Professional Expenses
Conductor
Leader
Soloist & Expenses
Professionals
Note 7 Income From Donations
Unrestricted Funds
Donations
East Herts Lottery
Easy Fundraising
Restricted Funds
Robert Kiln Charitable Trust
Donations In Memory of Roy Jones
Total Income From Donations
Note 8 Write Offs
Unpaid programme advertising &
Subscriptions
Disposal of Staging (Value at 31.07.2020)		 0
0
0
0
0
0
0
1,200
18
1,880
120
1,309
4,527
0
0
0
0
0
240
18
21
279
25,000
740
25,740
26,019
52		 1,887
2,791
3,026
2,210
0
0
9,914
832
1,499
2,520
240
1,694
6,785
2,930
1,115
1,285
5,424
10,754
5
0
45
50
3,700
0
3,700
3,750
303

Page 10