CHARITY REGISTRATION NUMBER: 282212 Haffield Philharmonic Orchestra Unaudited Financial Statements 31 July 2024 JANE WATERS 1 Barleycroft Green Welwyn Garden Cty Herts AL8 6JY
Haffield Philharnionic Orchestra Financial Statements Year ended 31 July 2024 Page Trustees, annual report Independent examinels report to the trustees Statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements
Hatfield Philharnionic Orchestra Trustets. Annual Report Year ended 31 July 2024 The trustees present their report and the unaudiied financkgl staterrEnts of the charity for the year ended 31 July 2024. Reference and administratlve detsils Registsred charity name Hatfield Philhar[•nic Orchestra Charity rggistrntion number 282212 Prfncipal office Timbers Cheverells Green Markyate Herts AL3 8RN The trustees Ms J Bedwell Mrs C Tewson Mts J Tothill Mr R Houghton Mrs H Grant Miss S Eversden Independent examiner Ms Jane Waters 1 Barleycroft Green Wefvryn Garden Cty Herts AL8 6JY Structure. governance and management The Haffield PhilhamniC Orchestra perfomis underthe narre the de Havilland Philharmonic Orchestra. The charity is an unincorporated soaety receiving swnsorship from the University of Hertfordshire Arts and subscription 1ftme from members and patrons of the orchèstra. The orchestra is managed by a committee of trustees together aSSistsn from a programming committee and the conductor of the orchestra. On 20 July 2017 the Trustees set up a subsidiary company. de Havilland Philharmonic Productions Ltd, for the purpose of producing the concerts in order to claim Orchestral Tax Relief on the costs. These accounts are not consolidated into the charity accounts, but all costs in¢urred by the subsKliary company. excepting Orchestral Tax Relief, are reimbursed directly.
Hatfield Philharmonic Orchestra Trustees. Annual Report(conYnu80) Year ended 31 July 2024 Objectives and activilles The objects of the society are: - to advance, improve, develop and maintain publiceducation in, and appreciation of, the art and science of music in all its aspects, by any mean5 the trustees see fft. including through the presentation of public oncerts and recitsls., - to fvrther suth charitable purtx)se or pvrposes as the trustees in their absolute discretion shall think fft bul in particular through the making of grants and donatrons. In addition lo public conrtS and recitals, the Society encourages tmmUnty engagement through a variety of methods., a non*xclusive description is provided below. Merobership of the Society is open to anyone over the age of 18 and UHArts advertise the orchestra to all students, music and non-music students alike. Students who are nol members of the orchestra may also attend rehearsals and the orchestra will rehearse and programTne student compositN)ns for perf0mlan at suitable occasions. Members ol the orchestra are avaikqble, as appropriate, for photc%Jraphy for publicty purposes and can also be available. either individually or in small groups. for interview purposes. to produce material for publicty and community engagement. The SocEty works wtth 8rb.st James Mayhew, to produce an innovatwe perfompnce, with the aim of engaging children and families with classical music. Our famity concert also enables us to work with a local reading group charity. James Mayhew is supported in his schwl engagement activitie5 by the orchestra through provision of funds and advice as appropitate. Athigvements and perfonnance The orchestra rehearses for and performs 7 concerts during the academic year. the conrtS taking pla at the Weston Auditorium at the Unrversity of Hertfordshire. The concerts are usually reasonably attended, in particular the Iwo concerts in November together wilh the illustrator James Mayhew. Financial revigw The orchestra beneffts from sponsorship for all its conrtS from the UnNersty of Hertfordshire, Arts department, and this income together wilh subscription income. income from orchestra patrons and the Claiming of gift-aid and orchestra tax relief an5 that the orchestra usualty breaks even over the year. In the 23124 year the orchestra made a small profft of £1,620122123: a ioss of £5,025}. The orchestra maintains futKls of £49.13712023.. £47,517ito subsidise ftjture concerts in the event of a change in funding. As in the ptior year Universrty of Hertfordshire, Arts subsidises the orchestra such that the orchestra reS £2,00012022: £2.0001 in fixed fijnding per cOnrt plus a percentsge of the ticket sales. The Orchestra are grateful that the Universjty have confimEd an increase in ticket fvnding to £3,000 per concert for the 24125 Season.
Haffield Philhamionic Orchestra Trustee5' Annual Report (conlln Year ended 31 July 2024 The trustees. arsnual rewwt was approved on 7 November 2024 and Signed on behalf of the board of trustees by.. Ms J Bedwell Trustee Mr R Houghton Trustee
Hatfield Philharnionic Orchestra Independent Examiner's Report to the Trustees of Haffield Philhamionic Orchestrd Year ended 31 July 2024 I report to the trustees on my examination of the financial statements of Hatfield Philharmonic Orchestra {'the chaiity'l for the year ended 31 July 2024. Responsibillties and basls of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Chartties Act 2011 {Ihe ACVI. I reF)Ort in respect of my examination of the chaTWs financial statements Carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under sectK)n 145{5llb) of the Ac Independent examlne*s statement I have completed my examinats'on. I confirm that no material matters have come to my attention in connection with the examination gmng me cause to believe that in any material respect. accounting records were not kept in respect of the ¢hanty as required by section 130 of the Act", or the financial statements do not accord with those records.. or the financial ststements do not comply wrth the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports} Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter consdered as part of an independent examinats"on. I have no cOnmS and have come across other matters in connection wtth the examination to which attention should be drawn in this report in order to enab a proper understanding of the accounts lo be reached. Ms Jane Walers IndeFendent Examiner 1 Barleycroft Green Welwyn Garden City Herts AL8 6JY 7 November 2024
Hatfield Philharmonic Orchestra Statement of Financial Activities Year ended 31 July 2024 2024 Unrestricted Restricted funds TS Total funds Totsl fvnds 2023 Income and endowments Donations and legacies Charitable activsties Inveslrnent incoff Other income 22,516 425 22,516 425 386 11.065 17,141 277 140 7,593 25,151 11.065 Total income 34,392 34,392 Expenditure Expenditure on charitable activities Total expendlture 32.772 32,772 30,176 30,176 32.772 32,772 Nel incomellexpendlture) and not movernent in funds 1.620 1.620 15,0251 Reconciliation of funds Total funds brought forward Total funds carrled forward 45,399 47,019 2.118 2.118 47.517 52,542 49,137 47.517 The statement of financial activf(ies includes all gains and losses recognised in the year. All income and expenditure derive from continuing activib"es. notes on pages 8 to 14 fomi part ofthese finar18] ststements.
Haffield Philhamionic Orchestra Statement of Financial Position 31 July 2024 2024 2023 Fixed assets Investments 14 Current assets Debtors Cash at bank and in hand 15 13,366 35,769 12,875 34,640 49,135 49,135 47,515 Not current assets 47,515 47.517 Totsl assets less current liabilltles 49.137 Funds of the charity Reslricled funds unrestn.cted funds 2,118 47,019 2,118 45,399 47,517 Total charity funds 16 49.137 These financial statements were approved by the board of trustees and authorised for issue on 7 November 2024, and are signed on of the tvjard by.. Ms J Bedwell Trustee Mr R Houghton Trustee The notss on pages 8 to 14 forni part oftheBe financial stst•ments.
Haffield Philharmonic Orchestra ststement of Cash Flows Year ended 31 July 2024 2024 2023 Cash flows from operating aclivltles Net incomel{expenditurel 1,620 15,0251 Adjustments for.. Other interest receivable and similar income Interest payable and similar charges (386) 1140) 111 Changes in.- Trade and other debtors 14911 743 11,7451 16,7991 Cash generated from operatr.ons Interest paid Interest received 1111) 140 386 Net cash froml{used inl operating aclivities 1.129 16,7701 Net increasel(decreasel in cash and cash equivalents Cash and cash equivalents at b8ginnlng of year Cash and cash ¢quivalents at tnd of year 1.129 34.64D 16,7701 41,410 35,769 34,640 The notes on pages 8 to 14 fomi part of the88 financial statsm•nts.
Haffield Philharmonic Orchestra Notss to the Financial Statements Year ended 31 July 2024 General inforniation The charty is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal olTre is Timbers, Cheverell$ Green. Markyate, Herts. AL3 8RN. statement of compliance These financial statements have been prepared in compliance h FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Pfacttce applicable lo charittes preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Iland IFRS 1021 (Charities SORP IFRS 10211 and the Chartties Act 2011. Accounting policies Basis of pr¢pardtlon The financial statements have been prepared on the historical cost basis, as modified by the revaluat'on of certain financial assets aiKI liabilrties and investment properties measured at fair value through income or expendrture. The financial staterrents are prepared in sterling, which is the functional currency of the entrty. Going concem The accounts are prepared on a going concem basis. The Tnjstees consider that there are no material uncertainties that cast significant doubt on the charity's ability to conb.nue as a going concem. Judgements and key sources of e816malion uncertainty The preparation of the financial statements requires management to make judgernents, estimates and assumptions that affect the amounts reported. These &b"mates and judgements are continually reviewed and are based on experience and other factors, including expectations of fvture events that are believed to be reasonable under the circumstsnces. Significant judgements The Trustees consmder that the judgents 12part from those involving e5timationsl that management have made in the process of applying the entrty's accounting policies have no significant effect on the amunts recognised in the financial StstentS. Key sources of ests"mation uncertainty Accounting estimates and assumptions are made con*ming the fijture and, ty their nature, wtll rarety equal the related actual outcome. The Truslees consider that Ihe key assumptions and other sources of estimatron uncertainty have no significanl risk of causing a material adjustrnent to the arrying amounts of assets and liabilib.es vthin the nexi financial year.
Hatfield Philharnionic Orchestra Notes to the Financial Ststements (contin Year ended 31 July 2024 Accounting policles (CO0) Fund accounting Unrestricted fvJrEds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated fvnds are unrestn.cted fijnds earmarked by the trustees for particular fvture project or commitment. Restricted funds are subjected to restrictions on their expendire declared by the donor or through the terms of an appeal, and fall into one of iwo sutrrfiasses." restricted income funds or endowment funds. Incoming r0ree8 All income is included in the ststerr*nt of financial activib'es when entitlement has passed to the charity, rt is probable that the economic beneffls associated wrth the transaction will flow to the charity and the amount can be reliabty measured. The following specific policies are applied to particular categories of income.. - income from donattons or grants is recognised when there is evidence of enb'wement to the gift, reIpt is probable and its amount be measured reliabty. - legacy income is recognised when receipt is probable and entrtlement is eslablished. - income from donated facilities and seryices are recognised in the accounts when received rf the value can be reliabty measured. No atrKsunts are induded forthe contribution ofgeneral volunteers. - income from contracts for the supply of ServIS is recognlsed wrth the delNery of the contracted seNice. This is classffied as unrestficted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed rf unspent, in which case it may be regarded as restricted. - income from tax relief is rectsJnised in the year to which it relates.
Hatfield PhilhanTronic Orchestra Notss to the Financial Statements (c(¥rfiftu Year ended 31 July 2024 Accountlng policies {conllnu¢dJ Resources èxpended Expendtture is recognised on an acLnJals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fvlty recovered. and is classified under headings of the statement of financial activities lo which it relates". expenditu on raising funds includes the costs of all fundraising activitr"es. evenls, non- charitable trading actsvities, and the sale of donated goc*Js. expenditure on charitable activities includes all costs incurred by a charity in undertaking tivities that ftjrther its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the goveman¢e of the charity apportioned to charitable activities. otheiexpendtture includes all expendrture that is neither related to raising fvnds for the chanty nor part of its expenditure on chatitsbie ath"vihes. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single actNty are allocated directly to that activity. Shared costs are apportioned beeen the activities they conthbule to on a reasonable, justifiable and consistent basis. Financial instruments A financtal asset or a financial Itability is recognised only when the entity becomes a party to the contractual provisions of the instrumenL Basic financial instruments are initialty rec(KJnised at the amount r1vable or paable including any related Iransactron costs, untess the arrangement constitutes a financing transactron, where it is recognised at the present valije of the future payments dIoUnted at a market rate of interest for a similar debt instrument. Current assets and current 1habi1"eS are subsequenuy measured at the cash orother consideration expected to be paKI or received and rtot dts¢ounted. L)onations and legacies Unrestricted Total Funds Unfestricted Total Funds Funds 2024 Funds 2023 Sponsorship UH Arts Income 22,516 22,516 17,141 17,141 Charitable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Income from sale of programmes 425 425 277 277 10
Hatfield Philharnonic Orchestra Notes to the Financial Statements (condndI Year ended 31 July 2024 Investmgnt income Unreslricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Bank interest recewable 140 140 Other incomg Unrestr Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Members subscripbons Patron subscriptions Gift aid 9,255 30 1,780 11,065 9,255 30 1.780 6,259 158 1.176 6,259 158 1.176 11. 7.593 7,593 Expenditure on ¢harltable activltles by nd type unrestri Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Rehearsing for and performing conTrrts Support costs 32.737 35 32.737 35 29.230 946 29.230 946 32.772 32.772 30.176 30,176 Expgnditure on charitsble actlvities by activity type Activtties undertakeri directly Support Totsl funds costs 2024 Total ftjnd 2023 Rehearsing for and perfoming concerts Governance costs 32.737 32.737 29,230 35 32.737 35 32.772 30,176 10. Analysls of support Costs Totsl 2024 Total 2023 Finance costs 111 11. Independent ¢xamlnation fees No fees were charged by the Independent Examiner. 12. Stsff costs 11
Haffield Philhannonic Orchestra Notes to the Financial Statements Icoftthiwd) Year ended 31 July 2024 12. Staff costs {conthiued) The average head count of employ during the year was Nil12023.' Nil). No employee received employee beneffts of more than £60.0(X) during the year12023'. Nil). 13. TTUStee rernunerdtion and expenses No remuneration or other benefits from employment with the charity or a reiated entity were received by the trustees. 14. Investments Shares in group undertaklng Cost or valuatlon At 1 August 2023 and 31 July 2024 Impalmient Al 1 August 2023 and 31 July 2024 Carying amount At 31 July 2024 At 31 July 2023 Al investments shown above are held at valuation. 15. Debtors 2024 2023 Other debtors 13,366 12,875 The debtors mainty relate lo anKJunts owed by de Havilland Philhaffln PrcKJuctions Ltd in relation the Orchestra Tax Relief. 12
Haffield Philhamionic Orchestra Notes to the Financial Statements (ctythwdj Year ended 31 July 2024 16. Analysi$ of charitable funds Unrgstricted funds At 1 August 202 At IncoffE Expenditure 31 July 2024 General fvnds 45.399 34,392 {32,772) 47,019 At 1 August 202 At Income Expenditure 31 Juty 2023 General fvnds 50,424 25,151 130.1761 45,399 Restri¢t¢d funds At 1 August 202 At Income ExFenditure 31 July 2024 R Kitchenman Fund J Mayhew Fund 1.800 318 1,800 318 2,118 2,118 At 1 August 202 At Income Expendrture 31 Juty 2023 R Kitchenman Fund J Mayhew Fund 1,800 318 1,800 318 2,118 2,118 17. Anatysis of nel assets betlveen fvnds Unrestricted Funds Restricted Total Funds Funds 2024 Current assets 47,019 2.118 49,137 Unrestricted Funds Restricted Total Funds Funds 2023 Currenl assets 45,399 2.118 47,517 13
Hatfield Philhamionic Orchestra Notes to the Financial Statements (¢ortinu6d) Year ended 31 July 2024 18. Flnancial instruments The carrying amount for each eategory of ffinancial instrUnt is as follows" 2024 2023 Financial assets that are debt Instruments measured at amortised cost Financial assets that are debt instruments Sured at amortised cost 49.137 47,515 19. Analysis of ¢hanges In ngt debt At At 1 Aug 2023 Cash flows 31 Jul 2024 Cash at bank and in hand 34,640 1,129 35,769 20. R8lated parties The Charity has a 100% subsidiary. De Havilland Philham)onic Productions Limited. This company was set up for the express purpjse of claiming Orchestra Tax Relief {"OTR"l on all concert production costs. In order to facilitate this the Charity roans a maximum of £7,000 per concert to DHP Productions Ltd to fund the costs ofeach concert At the end of the year an amount equalling the total cost of the concerts less any OTR is billed to the Charity. In this year the amount billed to the Charty was £32.737 (2023 £28,948}. DHP Production Ltd then Makes the claim for relpf leaving the subsidiary coinpany with no profit or loss. The OTR receivable is £9,25512023 £9,276}. 14