THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2022 

## FINANCIAL STATEMENTS 

## THE HERTFORD SYMPHONY ORCHESTRA 

YEAR ENDED 31 JULY 2022 

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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**|



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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 

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THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2022
ORCHESTRA COMMrrTEE'S REPORT
Th• Ord*** comm￿1•8 iY8awts tr*ir r•wt and *¢￿￿rtS the yew ended 31 J￿Y 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•s*ional MLwici￿ to work and tutor.
A •ummary d the Ck<*w8lr•'8 r•¥￿ for ljw yew * I￿nd on p•go 7 to t￿ St￿nL
T￿ thhe8tr8 e<x)tlnue8 to ottsin most of its income Iyorn eonwts glventrlP* wilic andfr<Nn $ubKaiptions
fr(￿ 118 membws. Fri•nd8 and Patran8. The exrwMJthirB o rvlated to thg c4)sts of puttwvJ on the8e concert
(r•P•4r•al and wrfornilrrfJ colts)
2021.2022 wa• o twh 88a•M fty IM rycho•tra. Ats in Novomb•r aTrJ l)ec•mber
(including world w8mi•re of SLwnds ol the F¢xest) rebjmlng after a ￿alOn wrth no Perf￿M•Dce$, 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¢ tknct0rnlco￿U¢tty1 Jonath￿ Mann Gwry Com•ll
were able to at short n￿1(* to c¢YnF4•10 th• ••4•0n that T¢yn h•d ry•0￿d, w￿h coThJ￿￿0r 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¢h￿tr• Commllt••
N. Gazey (Hono
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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. 

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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
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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**: ￿n￿nI* lalliig du•
•fter (¥￿ y
Rc*ert D¢¥k
7.313
1.449
1(X)
24.107
15,IX(I
15,0
Trfrasurf• Cwrnnt ￿e￿nI
Tatsl ¢urff•nt ••*•tr
52.841
LESS
Ci&1ttor*.'
(fue y
C1￿1#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
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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**|



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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. 

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THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2022 

|**Note 4**<br>**Ticket Sales**<br>November<br>Christmas<br>March<br>May<br>June/July<br>**Note 5**<br>**Rehearsal Costs**<br>Hall Hire<br>Music Hire incl commissions<br>Conductor<br>Guest Conductor<br>Leader<br>**Note 6**<br>**Professional Expenses**<br>Conductor<br>Leader<br>Soloist & Expenses<br>Professionals<br>**Note 7**<br>**Income From Donations**<br>**Unrestricted Funds**<br>Donations<br>Robert Kiln Charitable Trust<br>Raffle<br>East Herts Lottery<br>Easy Fundraising<br>**Restricted Funds**<br>Donations in memory of Roy Jones<br>Donations<br>**Total Income From Donations**|**2021-2022**<br>**2020-2021**<br>£<br>£<br>2,091<br>0<br>1,080<br>0<br>0<br>2,193<br>0<br>2,054<br>0<br>2,460<br>0<br>**9,878**<br>**0**<br>2,510<br>1,200<br>1,094<br>18<br>3,120<br>1,880<br>864<br>120<br>2,618<br>1,309<br>**10,206**<br>**4,527**<br>3,200<br>0<br>1,360<br>0<br>199<br>0<br>7,746<br>0<br>**12,505**<br>**0**<br>2,022<br>240<br>0<br>25,000<br>187<br>209<br>18<br>30<br>21<br>**2,448**<br>**25,279**<br>0<br>740<br>686<br>0<br>**686**<br>**740**<br>**3,134**<br>**26,019**|
|---|---|



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