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