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: - select suitable accounting policies and then apply them consistently. - make judgments and estimates that are reasonable and prudent; and - prepare financial statements on a going concern basis unless it is inappropriate to presume that the Orchestra will continue in its business. - state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements. 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