THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2022
FINANCIAL STATEMENTS
THE HERTFORD SYMPHONY ORCHESTRA
YEAR ENDED 31 JULY 2022
Page 1
THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2022
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 2022
ORCHESTRA INFORMATION
Music Director/Conductor Tom Hammond Leader Margaret Holter Chairman: Andrew Medhurst Honorary Secretary: Nick Gazey Honorary Treasurer: Monique Blackford 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 2022 ORCHESTRA COMMrrTEE'S REPORT Th• Ord comm1•8 iY8awts trir r•wt and ¢rtS the yew ended 31 JY 21Y22. Prlnclpal Aclivib••: TIN8 athiliel Cknhestra In the y•ar revvwi are to promote muslc by putting on concert8 in the East Herts m iTrSudiry invdviry s¢hoth in Children's aTra Christma$ c(mcert$. and to incr& 8tandard8 b¢•1 ffluoklanj by wof•sional MLwici to work and tutor. A •ummary d the Ck<w8lr•'8 r•¥ for ljw yew * Ind on p•go 7 to t StnL T thhe8tr8 e<x)tlnue8 to ottsin most of its income Iyorn eonwts glventrlP wilic andfr<Nn $ubKaiptions fr( 118 membws. Fri•nd8 and Patran8. The exrwMJthirB o rvlated to thg c4)sts of puttwvJ on the8e concert (r•P•4r•al and wrfornilrrfJ colts) 2021.2022 wa• o twh 88a•M fty IM rycho•tra. Ats in Novomb•r aTrJ l)ec•mber (including world w8mi•re of SLwnds ol the F¢xest) rebjmlng after a alOn wrth no PerfM•Dce$, 1 orchestra was devasted by th• 8udd•n dèath ol thth'r Music Dnctor and Conductor. Ttyn lknmond, at the •nd ol Decamber 2021. HSO fcthn• Ihlt FKe¥i¢xM HSO IAu•i¢ tknct0rnlcoU¢tty1 Jonath Mann Gwry Com•ll were able to at short n1(* to c¢YnF4•10 th• ••4•0n that T¢yn h•d ry•0d, wh coThJ0r Darwel Audien¢e rNJmb•rn wern than W•VKXth 4•a•orn. Lmrt wa• to b• oxpctod Ylth the Covid.19 restrict¢on8. Or¢h••tr• Commht•• IAornb•r•: Chalmian: Andrv4¥ M8dhur8t (TnJ8t••) Honorary S•cr•tsry: Nick Gauy Honor•ry Tr••surnr. Mmyue 81ackYo Jam Eklrod ILitTrrian) Katie Nei18on Jill Valent Chris Woothow Margaret Hotter {L&•der) Slgn•d on b•half ol th• or¢htr• Commllt•• N. Gazey (Hono Page 4
THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2022
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 2022 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HERTFORD SYMPHONY ORCHESTRA ••(r 145(5Xb) rA • 2011 *rt •AI Page 6
THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2022 BALANCE SHEET 31.07.2022 31.0721 Flx•d AA8•ts Swlng Stagé pi•no. C & ¥¢wbd Totsl Flx•d Aw•t• 4S7. 526 14at Fix•d A•••ts Curr•nt asselA 0•bt.. due wihin on• ye•r Debtr: nnI lalliig du• •fter (¥ y Rcert D¢¥k 7.313 1.449 1(X) 24.107 15,IX(I 15,0 Trfrasurf• Cwrnnt enI Tatsl ¢urff•nt •••tr 52.841 LESS Ci&1ttor.' (fue y C11#L¥s.. du• 4fter on• y•w 18 140 63,245 Total N•t AM•1• REPRESENTED BY: c¢wNkni•d Fwno ev Forwinl FMI Jw 4•44 25.MO Aceumulat•d Fund Carri•d Forward $3,71 D•t• Chowman z6y 08.11.2022 Page 7
THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2022
Income and Expenditure Account
| 2021-2022 | 2020-2021 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| INCOME | |||||
| Ticket Sales | (4) | 9,878 | 0 | ||
| HSO Subscriptions | 10,644 | 3,538 | |||
| FOHO Subscriptions | 806 | 77 | |||
| Gift Aid | 2,450 | 1,232 | |||
| Programme advertising | 0 | 200 | |||
| Refreshments | 0 | 0 | |||
| TOTAL INCOME | 23,778 | 5,047 | |||
| LESS | |||||
| DIRECT COSTS | |||||
| Rehearsal Costs | (5) | 10,206 | 4,527 | ||
| Venue Hire | 2,954 | 0 | |||
| Staging | 764 | 0 | |||
| Professional Expenses | (6) | 12,505 | 0 | ||
| Instrument Hire | 0 | 0 | |||
| Posters | 306 | 0 | |||
| Concert Programmes | 920 | 0 | |||
| First Aid | 449 | 0 | |||
| 28,105 | 4,527 | ||||
| GROSS | |||||
| SURPLUS/DEFICIT | -4,327 | 520 | |||
| Donations Received | (7) | 3,134 | 26,019 | ||
| INDIRECT COSTS | |||||
| Depreciation | 69 | 69 | |||
| Brochures and Programme | |||||
| Covers | 0 | 0 | |||
| Advertising | 21 | 0 | |||
| Performing Rights | 473 | 275 | |||
| Miscellaneous Costs | 952 | 93 | |||
| Insurance | 137 | 132 | |||
| Administration Costs | 0 | 0 | |||
| 1,651 | 569 | ||||
| CURRENT YEAR SURPLUS/DEFICIT | -2,844 | 25,970 | |||
| Write Offs | 0 | 52 | |||
| CURRENT YEAR SURPLUS/DEFICIT | -2,844 | 25,918 |
Page 8
THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2022
NOTES TO THE ACCOUNTS
Note 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 represents ticket and programme sales, advertising sponsorship, subscriptions, grants, donations, Gift aid on donations and refreshment sales.
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 at the following rates to write off the assets over their useful economic lives:
Plant & Equipment 20% on written down value
e) Taxation
The Orchestra is not able to claim rebates on Value Added Tax.
Note 2 Income
The income and surplus/deficit are attributable to the principal 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 principal activities of the Orchestra.
Restricted funds have been provided to the Orchestra for a specific purpose 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.
Note 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.
Page 9
THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2022
| Note 4 Ticket Sales November Christmas 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 Robert Kiln Charitable Trust Raffle East Herts Lottery Easy Fundraising Restricted Funds Donations in memory of Roy Jones Donations Total Income From Donations |
2021-2022 2020-2021 £ £ 2,091 0 1,080 0 0 2,193 0 2,054 0 2,460 0 9,878 0 2,510 1,200 1,094 18 3,120 1,880 864 120 2,618 1,309 10,206 4,527 3,200 0 1,360 0 199 0 7,746 0 12,505 0 2,022 240 0 25,000 187 209 18 30 21 2,448 25,279 0 740 686 0 686 740 3,134 26,019 |
|---|---|
Page 10