THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2024 ## FINANCIAL STATEMENTS THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2024 Page 1 THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2024 ## **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 2024 ## ORCHESTRA INFORMATION Music Director/Conductor Jonathan Mann Leader Emily Groom 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 2024 ## **ORCHESTRA COMMITTEE’S REPORT** The Orchestra Committee presents their report and accounts for the year ended 31 July 2024. ## **Principle Activities:** The principal 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 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 most of its income from concerts given for the general public and from subscriptions from its members, Friends and Patrons. The expenditure is related to the costs of putting on these concerts (rehearsal and performing costs) The Orchestra welcomed back Jonathan Mann as Music Director and Conductor. The orchestra had the fantastic experience of playing Mahler 1 in November with guest conductor Daniel Hogan, together with the Mozart clarinet concerto, played beautifully by Meline Le Calvez. Jonathan brought all his usual enthusiasm to a great Winter Wonderland Christmas concert featuring an excellent dancer, a new idea that everyone seemed to enjoy. In the spring, Jonathan brought four student conductors along for a masterclass on Brahms 4, and in March the Orchestra returned to All Saints Church in Hertford to perform again with the fantastic trumpet player Chris Avison. His rendition of the Hummel trumpet concerto was superb and Brahms 4 was well received. In May the Orchestra had the great pleasure of playing our first concert under the direction of guest conductor Michal Oren. Michal brought such musicality to the performance and the orchestra hopes to work with her again in the future. At the end of the season, the children’s concerts, ‘Musical Fairytales’, featuring guest Lucy Drever, proved to be one of the Orchestra’s most successful Children’s Concerts. ## **Orchestra Committee Members:** The following people served on the Orchestra Committee during the year. Chairman: Andrew Medhurst Chris Woodrow Honorary Secretary: Nick Gazey Katie Neilson Honorary Treasurer: Monique Blackford Richard Salthouse Andrew Pummell Amie Boddy Emily Groome (Leader) Jane Eldred (Librarian) Diana Salthouse (Orchestra Manager) Page 4 THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2024 ## **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 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HERTFORD SYMPHONY ORCHESTRA I report lo Ihe truste•s on my exarninatK)n CA 8¢¢￿Thts ol Hortkrfd Syynpkny ¢>c￿Stro l¢f t f ended 31 J￿Y 2024. aro s•1 wt on pages 7 10 10. •spon•lblMtl•• and bas1• ol r•wt: Th• chanWs truslws arn lor IM Wep•rn1￿ ol th• acco￿1$. I report in rosped of my examinalion of the acc(Kmt8 ¢wri8d oul undef Secti￿ 145 of the Charilies Act 2011. arKI m cal￿n9 ¢yJI my examffial￿, I lolowed al the appkable Dirocbon5 9Non by Ihe Chanty Ccrnmisslc￿ w¥J•f s•dion 145(SXb) ol I￿ Acl. lTrd•p•nd•nl •xamln•rf• •t4t•m•rt I have cornpleted my OxrnlK￿. I Ihat rn male(wl matters h•v• come lo my attefitK￿ conneclM)n wilh Ihe examinalKJn vknKh gNes me cause to bel*ve Ihal in. any material resFed.' . Iho aCC￿nI1￿ records tN)I acaxdawi Wlth soclKx) 130 of tho chan1￿6 Acl. or lh• accI￿ntS 8c¢**31.07.2024**|**£**
**31.07.2024**||**£**
**31.07.23**| |---|---|---|---|---| |**Fixed Assets**
Stage piano, case & stand
Less Depreciation
**Net Fixed Assets**
**Current assets**
Debtors: amounts falling due
within one year
Debtors: amounts falling due
after one year
Refreshments stock
Petty Cash
Robert Kiln Donation
Reserve
Treasurer's Current Account
**Total current assets**
**LESS**
Creditors: amounts falling due
within one year
Creditors: amounts falling due
after one year
Pre-Payments Stock for
refreshments
**Total Net Assets**
**REPRESENTED BY:**
**ccu**
**u ated**
**u d**
**oug t**
**Forward From previous**
**Current Year**
**Surplus/(Deficit)**
**Accumulated Fund Carried**
**Forward**|3,187
0
39
100
23,573
15,000
9,292|||388
69
**319**
3374
456
39
100
24107
15000
9280
**52356**
718
297
39
**1054**
**51302**
**51621**
**50856**
**765**
**51621**| ||**51192**|||| ||1058
21
39|||| ||**1118**|||| |||||| |**Approved By:**||**Date**| |---|---|---| |Chairman|Andrew Medhurst|30.05.2025| |Trustee|Chris Woodrow|29.05.2025| |Treasurer|Monique Blackford|29.05.2025| Page 7 THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2024 ## **Income and Expenditure Account** |||**2023-2024**||**2022-2023**|| |---|---|---|---|---|---| ||**Note**|**£**||**£**|| |**INCOME**|||||| |Ticket Sales|(4)||13146||13,908| |HSO Subscriptions|||12328||11,452| |FOHO Subscriptions|||1284||497| |Gift Aid|||1815||2,092| |Refreshments|||961||816| |Programme Sales|||293||0| |**TOTAL INCOME**|||**29827**||**28,765**| |**LESS**|||||| |**DIRECT COSTS**|||||| |Rehearsal Costs|(5)|10826||10,157|| |Concert Venue Hire||2571||2,500|| |Professional Expenses|(6)|13414||12,509|| |Staging||750||600|| |Posters||884||634|| |Concert Programmes||700||497|| |First Aid||526||489|| |**G OSS**||**29671**||27,386|| |**SURPLUS/DEFICIT**|||**156**||**1,379**| |**Donations Received**|(7)||**1011**||**1,727**| |**INDIRECT COSTS**|||||| |Depreciation||69||69|| |Brochures||412||215|| |Advertising||437||75|| |Performing Rights||298||275|| |Miscellaneous Costs||160||1,008|| |Insurance||151||143|| |Purchases for Refreshments||419||556|| |||**1945**||**2,341**|| ||||||| |**CURRENT YEAR SURPLUS/DEFICIT**|||**-778**||**765**| ||`||||| |**Write Off's (**8)||Debtors|-936||0| |||Creditors|418||0| |**CURRENT YEAR SURPLUS/DEFICIT**|||**-1297**||**765**| Page 8 THE HERTFORD SYMPHONY ORCHESTRA YEAR ENDED 31 JULY 2024 ## **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 2024 |**NOTES TO THE ACCOUNTS**
**2023-2024**
£
**Note 4 Ticket Sales**
November
2,940
Christmas
2,693
March
2,099
May
2,117
June/July
3,297
**13,146**
**Note 5 Rehearsal Costs**
Hall Hire
3,023
Music Hire incl commissions
1,328
Conductor
3,378
Guest Conductor
480
Leader
2,618
**10,826**
**Note 6 Professional Expenses**
Conductor
3210
Leader
1150
Soloist & Expenses
1897
Percussion
4027
Professionals
3130
**13414**
**Note 7 Income From Donations**
**Unrestricted Funds**
Raffle
368
Donations
0
Donations for Sounds of the Forest CD
0
East Herts Lottery
418
Conducting Workshop
200
Easy Fundraising
26
**1011**
**Restricted Funds**
0
**0**
**Total Income From Donations**
**1011**
**Note 8 Debtors Write-Offs**
Unpaid Subscriptions from(22-23)
Refund of NatWest incorrect debit unresolved (19-20)
**Total Debtor write-off's**
**Creditor Write-Offs**
**Total Creditor write-off's**
Malcolm Arnold Trust contribution towards music hire not received (22-23)
Travelling expenses for Soloist Christmas Concert not claimed (21-22)
3rd Hoddesdon Scouts staging cheque not cashed (19-20)
Estimated PRS not charged by Spotlight Theatre (21-22)
Haileybury School Refreshments Christmas Concert not charged (22-23)|**2022-2023**
£
3,033
2,483
3,167
1,727
3,497| |---|---| ||**13,908**| ||2,360
979
3,720
480
2,618| ||**10,157**| ||3300
1220
1106
3693
3190| ||**12509**| ||273
4
115
302
200
24| ||**918**| ||809| ||**809**| ||| ||**1727**| ||356.25
480.00
100.00| ||**936.25**| ||107.60
50.00
140.00
120.00| ||**417.60**| Page 10