DocuSign Envelope ID: 582EC835-198D-42EF-91FE-4FAE37BA5BF8
Registered number: 01430784
NORTHERN CHAMBER ORCHESTRA LIMITED DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
BWP Inspire Ltd
DocuSign Envelope ID: 582EC835-198D-42EF-91FE-4FAE37BA5BF8
Northern Chamber Orchestra Limited Directors' Report and Unaudited Financial Statements For The Year Ended 30 June 2023
Contents
| Page | |
|---|---|
| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Income and Expenditure Account | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6—8 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Income and Expenditure Account | 9 |
DocuSign Envelope ID: 582EC835-198D-42EF-91FE-4FAE37BA5BF8
Northern Chamber Orchestra Limited Company Information For The Year Ended 30 June 2023
| Directors | Mrs Naomi Coverley |
|---|---|
| Dr John Bush | |
| Mr Conrad Marshall | |
| Mr Stephen Threlfall | |
| Mr Constantine Biller | |
| Kate Grimoldby | |
| Mr John Phillips | |
| Mr Thomas Philpott | |
| Mr Simon Gilks | |
| Secretary | Mr Ronald Graham |
| Company Number | 01430784 |
| Registered Office | Charter Buildings |
| 9 Ashton Lane | |
| Sale | |
| Greater Manchester | |
| M33 6WT | |
| Accountants | BWP Inspire Ltd |
| Charter Buildings | |
| Ashton Lane | |
| Sale | |
| Greater Manchester | |
| M33 6WT |
Page 1
DocuSign Envelope ID: 582EC835-198D-42EF-91FE-4FAE37BA5BF8
Northern Chamber Orchestra Limited Company No. 01430784 Directors' Report For The Year Ended 30 June 2023
The directors present their report and the financial statements for the year ended 30 June 2023.
Directors
The directors who held office during the year were as follows:
Mrs Naomi Coverley Dr John Bush Mr Conrad Marshall Mr Stephen Threlfall Mr Constantine Biller Kate Grimoldby Mr John Phillips Mr Thomas Philpott Appointed 21/09/2022 Mr Simon Gilks Appointed 09/02/2023
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr John Phillips Director
Date
Page 2
DocuSign Envelope ID: 582EC835-198D-42EF-91FE-4FAE37BA5BF8
Northern Chamber Orchestra Limited Accountant's Report For The Year Ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Northern Chamber Orchestra Limited for the year ended year which comprise the Income and Expenditure Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the directors of Northern Chamber Orchestra Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Northern Chamber Orchestra Limited and state those matters that we have agreed to state to the directors of Northern Chamber Orchestra Limited in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that Northern Chamber Orchestra Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Northern Chamber Orchestra Limited. You consider that Northern Chamber Orchestra Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Northern Chamber Orchestra Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Signed
02/11/2023
BWP Inspire Ltd Charter Buildings Ashton Lane Sale Greater Manchester M33 6WT
Page 3
DocuSign Envelope ID: 582EC835-198D-42EF-91FE-4FAE37BA5BF8
Northern Chamber Orchestra Limited Income and Expenditure Account For The Year Ended 30 June 2023
| Notes TURNOVER Cost of sales GROSS SURPLUS/(DEFICIT) Administrative expenses Other operating income OPERATING DEFICIT AND DEFICIT BEFORE TAXATION Tax on Deficit DEFICIT AFTER TAXATION BEING DEFICIT FOR THE FINANCIAL YEAR |
2023 £ 111,215 (110,856) 359 (100,309) 46,872 (53,078) 36,429 (16,649) |
2022 £ 141,431 (166,513) |
|---|---|---|
| (25,082) (103,520) 102,997 |
||
| (25,605) 21,109 |
||
| (4,496) |
The notes on pages 6 to 8 form part of these financial statements.
Page 4
DocuSign Envelope ID: 582EC835-198D-42EF-91FE-4FAE37BA5BF8
Northern Chamber Orchestra Limited Balance Sheet As At 30 June 2023
| Notes FIXED ASSETS Tangible Assets 4 CURRENT ASSETS Stocks 5 Debtors 6 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 7 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Income and Expenditure Account MEMBERS' FUNDS |
2023 £ £ 12,500 12,500 479 36,429 87,013 123,921 (65,137) 58,784 71,284 71,284 71,284 71,284 |
2023 £ £ 12,500 12,500 479 36,429 87,013 123,921 (65,137) 58,784 71,284 71,284 71,284 71,284 |
2022 £ £ 12,500 12,500 479 25,146 88,302 113,927 (38,494) 75,433 87,933 87,933 87,933 87,933 |
2022 £ £ 12,500 12,500 479 25,146 88,302 113,927 (38,494) 75,433 87,933 87,933 87,933 87,933 |
|---|---|---|---|---|
| 12,500 58,784 |
12,500 75,433 |
|||
| 123,921 (65,137) |
113,927 (38,494) |
|||
| 71,284 | 87,933 | |||
| 71,284 | 87,933 | |||
| 71,284 | 87,933 | |||
| 71,284 | 87,933 |
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr John Phillips
Director
Date
The notes on pages 6 to 8 form part of these financial statements.
Page 5
DocuSign Envelope ID: 582EC835-198D-42EF-91FE-4FAE37BA5BF8
Northern Chamber Orchestra Limited Notes to the Financial Statements For The Year Ended 30 June 2023
1. General Information
Northern Chamber Orchestra Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 01430784. The registered office is Charter Buildings, 9 Ashton Lane, Sale, Greater Manchester, M33 6WT.
Page 6
DocuSign Envelope ID: 582EC835-198D-42EF-91FE-4FAE37BA5BF8
Northern Chamber Orchestra Limited Notes to the Financial Statements (continued) For The Year Ended 30 June 2023
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 0 Fixtures & Fittings 0 Computer Equipment 0
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 7
DocuSign Envelope ID: 582EC835-198D-42EF-91FE-4FAE37BA5BF8
Northern Chamber Orchestra Limited Notes to the Financial Statements (continued) For The Year Ended 30 June 2023
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2022: 3)
4. Tangible Assets
| Cost As at 1 July 2022 As at 30 June 2023 Depreciation As at 1 July 2022 As at 30 June 2023 Net Book Value As at 30 June 2023 As at 1 July 2022 5. Stocks Stock 6. Debtors Due within one year Trade debtors Other debtors 7. Creditors: Amounts Falling Due Within One Year Trade creditors Other taxes and social security VAT Other creditors Accruals and deferred income |
Plant & Machinery £ 12,500 |
Fixtures & Fittings £ 1,417 |
Fixtures & Fittings £ 1,417 |
Computer Equipment £ 2,139 |
Total £ 16,056 |
|---|---|---|---|---|---|
| 12,500 | 1,417 | 2,139 | 16,056 | ||
| - | 1,417 | 2,139 | 3,556 | ||
| - | 1,417 | 2,139 | 3,556 | ||
| 12,500 | - | - | 12,500 | ||
| 12,500 | - | - | 12,500 | ||
| 2023 £ 479 479 2023 £ - 36,429 36,429 2023 £ (318) 5,950 1,683 (86) 57,908 65,137 |
2022 £ 479 |
||||
| 479 | |||||
| 2022 £ 25,146 - |
|||||
| 25,146 | |||||
| 2022 £ 8,346 4,292 1,668 90 24,098 |
|||||
| 38,494 |
8. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 8
DocuSign Envelope ID: 582EC835-198D-42EF-91FE-4FAE37BA5BF8
Northern Chamber Orchestra Limited Detailed Income and Expenditure Account For The Year Ended 30 June 2023
| TURNOVER Sales COST OF SALES Direct costs Other direct costs GROSS SURPLUS/(DEFICIT) Administrative Expenses Wages and salaries Employers NI Employers pensions - defined contributions scheme Staff training Travel expenses Rent Computer and IT consumables Insurance Printing, postage and stationery Advertising and marketing costs Telecommunications Accountancy fees Legal fees Subscriptions Bank charges Credit card charges Sundry expenses Other Operating Income Grants and subsidies received Other income - contributing to other operating income Other coronavirus grant income OPERATING DEFICIT DEFICIT BEFORE TAXATION Tax on Deficit Orchestral Tax Credit relief DEFICIT AFTER TAXATION BEING DEFICIT FOR THE FINANCIAL YEAR |
2023 £ £ 111,215 93,160 17,696 (110,856) 359 72,455 (32) 1,670 95 416 45 1,896 1,675 525 18,196 326 1,270 42 813 35 627 255 (100,309) 40,947 5,925 - 46,872 (53,078) (53,078) (36,429) 36,429 (16,649) |
2023 £ £ 111,215 93,160 17,696 (110,856) 359 72,455 (32) 1,670 95 416 45 1,896 1,675 525 18,196 326 1,270 42 813 35 627 255 (100,309) 40,947 5,925 - 46,872 (53,078) (53,078) (36,429) 36,429 (16,649) |
2022 £ £ 141,431 136,096 30,417 (166,513) (25,082) 76,730 134 1,717 242 257 - 9,312 1,575 221 11,189 373 211 - 780 30 692 57 (103,520) 94,245 7,580 1,172 102,997 (25,605) (25,605) (21,109) 21,109 (4,496) |
2022 £ £ 141,431 136,096 30,417 (166,513) (25,082) 76,730 134 1,717 242 257 - 9,312 1,575 221 11,189 373 211 - 780 30 692 57 (103,520) 94,245 7,580 1,172 102,997 (25,605) (25,605) (21,109) 21,109 (4,496) |
|---|---|---|---|---|
| 72,455 (32) 1,670 95 416 45 1,896 1,675 525 18,196 326 1,270 42 813 35 627 255 |
76,730 134 1,717 242 257 - 9,312 1,575 221 11,189 373 211 - 780 30 692 57 |
|||
| 359 (100,309) 46,872 |
(25,082) (103,520) 102,997 |
|||
| 40,947 5,925 - |
94,245 7,580 1,172 |
|||
| (36,429) | (21,109) | |||
| (53,078) (53,078) |
(25,605) (25,605) |
|||
| 36,429 | 21,109 | |||
| (16,649) | (4,496) |
Page 9