CHARrrY REGISTRATION NUMBER: 282212 Haffield Philharmonic Orchestra Unaudited Financial Statements 31 July 2025 JANE WATERS 1 Barleycroft Green Welwyn Garden City Herts AL8 6JY Hatfield Philhannonic Orchestra Financial Ststements Year ended 31 July 2025 Page Trustees, annual report Independent examineffs report to the trustees Statement of financial acttvities Statement of financial posib'on Statement of cash flows Notes to the financial statements Haffield Philhannonic Orchestra Trustees. Annual Report Year ended 31 July 2025 The tTUStees p￿sent their report and the unaudited financial statements ofthe charity forthe yearended 31 July 2025. R•ference and adminbtrdtlve detal Registered ¢harlty namo Chaffty reglstrdtion number Principal offlcè Haffield PhIlharr￿n￿ Orchestra 282212 Timbers Cheverells Green Martyate Herts AL3 8RN The trustees Ms J Bedwell Mrs C Tewson Mrs J Tothill Mr R Houghton Mrs H Grant Miss S Eversden Independent examiner Ms Jane Waters 1 Badeycroft Green WeWn Garden Ctty Herts AL8 6JY Structure, governance and managemont The Hatfield Philharmonic Orchestra perfornis under the name the de Havilland Philhamionic Orchestra. The charity is an unincorporated society re￿Ning swnsorship from the University of HertFordshire Arts and subscription income from members and patrons of the orchestra. The orchestra is managed by a committee of trustees together with assistan￿ from a programming committee and the conductor of the orchestra. On 20 July 2017 the Trustees set up a subsidrary company. de Havilland Philharynonic Productions Ltd, for the purp)se of producing the con￿rtS in order to claim Orchestral Tax Relief on the costs. These accounts are not Consol￿ated into the charity accounts. but all costs incurred by the subsidiary company, eX￿Pting Orchestral Tax Relief. are reimbursed directly. Haffield Philhamionic Orchestra Trustees. Annual Report f¢onbnu Year ended 31 July 2025 Obiectlves and actlvities The objects of the society are." -to advance, improve, develop and maintsin publ￿ education in. and appreciation of. the art and science of music in all its aspects. by any means the trustees see fi( including through the preSentat￿n of public con￿rtS and recitals", - to fvrther such chartlable puryx)se or PUTFoses as the trustees in their absolute discretion shall think fft but in particular through the making of grants and donations. In addition to public concerts and recitals. the Swety encourages communrty engagement through a variety of methcKls" a non*xclu$ive descn"ptN)n is provid&J below. Membership of the Society is open to anyone over the age of 18 and UHArts advertise the orchestr8 to all students. music and non-music students alike. Students who are not members of the orchestra may also attend rehearsals and the orchestra will rehearse and programme student compositions for performance at suitable occasions. Members of the orchestra are available. as approprrate. for photography for publicity purposes and can also be available, etther individualty or in Small groups. for interview purposes, to produce material for publicty and community engagemenL The Society works with artist James Mayhew, to produce an innovatwe perforn￿n￿, with the aim of engaging children and families wtth classical music. Our lamity concert also enables us lo work with a local reading group chanty. James Mayhew ts supported in his school engagement activittes by the orchestra through provision of funds and advi￿ as appropriate. Achlevements and performance The orchestra rehearses for and perfr)rms 7 concerts during the academic year. the concerts taking place at the Weston Auditorium al the Universty of Hertfordshire. The concerts are usually reasonably attended, in parb"cular the tsyo concerts in November together wrth the illustrator James Mayhew. Financlal revi•w The orchestra benefits from sponsorship for all its concerts from the UnNersTty of Hertfordshire, Arts department, and this income together with subscription ino)rrE, income frorn orchestra patrons and the claiming of grft-aid and orchestra tax relief means that the orchestra usually breaks even over the year. In the 24125 year the orchestra made a surplus of £7.785 (23124.. a surplus of £1,620) The orchestra maintains fijnds of £56.92212024." £49.137) to subsidise future concerts in the event of a change in funding. As in the prior year Universty of Hertfordshire. Arts subsidises the orchestra such that the orchestra r￿1VeS £3.000 {2024'. £2,000) in fixed funding per Concert plus a percentage of the ticket sales. The Orchestra are gralefvl for the fijnding received from the Untversity without which the orchestra would not be able to conb.nue with such ambitious programmes. Hatfield Philharnionic Orchestra Trustses. Annual Report{coftUft¢• Year ended 31 July 2026 The trustees, annual reFort was approved on the board of trustees by.. 2025 and signed on behalf of L,(0 frrfl Ms J Bedwell Trustee Mr R Houghton Tnjstee Haffield Philharnionic Orchestra Independent Examine￿$ Report to the Trustees of Hatfield Philharnionic Orchestrd Year ended 31 July 2025 I report to the trustees on my examinalion of the fina￿la1 slatements of Haffield Philham)onic Orchestra I'the charity'l for the year ended 31 Jijty 2025. Responsibilltios and basis of rèport As the trustees of the chanty you are responsible for the preparab.on of the financial ststements in accordance wtth the requirements of the Chartties Act 2011 {'the A¢r). I report in respect of my examination of the charity's finanaal 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 ComMiss￿n under section 14515)(b) ofthe Act Independent examinerfs statement I have 1￿Mpleted my examination. l Confimi that no material matters have come to my attention in connection with the examinats.on giving me cause to believe that in any material resiEcL accounting records were not kept in respect of the ¢hanty as required by se¢tion 130 ot the ACL or the financial statements do not accord with those r￿rdS., or the financial statements do not comply with the applicabje 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 wh￿h is not a matter ¢J)nsidered as part of an independent examination. I have no COn￿rnS and have come across no other matters in Connection with the examinatton to which attention should be drawn in this re￿t in order to enable a proper Unde￿tandIng of the accounts to be reached. Ms Jane Waters Independent Examiner 1 Barleycroft Green Wewn Garden City Herts AL8 6JY Lé) 202L Haffield Philharnionic Orchestra ststement of Financial Activities Year ended 31 July 2025 2025 Unrestricted Restricted funds nds Totsl funds Total funds 2024 Income and èndowments Donations and legacies Charitable activities Investrnenl income Other ir¢come 31.836 31.836 22,516 425 470 12,471 44,777 470 12.471 11,065 34,392 T4)tal Income Expenditure Expenditure on charitable activtti.es T¢)tal expenditure 44,777 34.874 2.118 36,992 32,772 32.772 34.874 2.118 36,992 Net incomel{expenditure) and net movement in fvnds 9.903 {2.1181 7.785 1,620 Reconciliation of funds Total fur>ds brought forward Total funds ¢arrled forward 47.019 2.118 49.137 47,517 56,922 56,922 49.137 The statement of financial activrties includes all gains and losses recc4Jnised in the year. All income and expenditure derive from conttnuing &b"viknes. Th• notes on pa9es 8 to 14 form part ofitEse financial ststements. Haffield Philharnionic Orchestra Statement of Financial Position 31 July 2025 2025 2024 Fixed assots Investments 14 Curront assets Debtors Cash at bank and in hand 15 13,433 43,487 13,366 35,769 56,922 56,922 Net current assets Total a869ts less current Ilabilities 49,135 49,135 56,922 49,137 Funds ofthe chartty Restricted funds Unrestricted fijnds Total charity funds 2,118 47,019 49,137 56,922 16 56,922 These financial staten*nts were approved by the Ix)ard oftrustees and authorised for issue on 2024, and are signed on behaff of the tx)ard by: Ms J Be(hvell Tnjstee Mr R Houghton Trustee The notes on pagts 8 to 14 forni part of the¥e firwncSal statèments. Hatfield Philhamonic Orchestra Statement of Cash Flows Year endèd 31 July 2025 2024 2023 Cash flows from operdtlng aclivitles Net incomel(expenditurel Adjustments for Other interest recervabfe and similar income Interest payable and similar charges Changes in." Trade and other debtors Cash generated fmm operations Interest paid Interest r￿1Ved Net cash froml(used in) operating acbvities 7,785 1,620 (470) 1386) {6n 7.248 1491) 743 470 7.718 1.129 Net incr¢a8el{decreasg) In cash and ¢ash equivalents Cash and cash equlvalents at b¢9inning of yoar Cash and cash equlvalents at end of year 7,718 35,769 1,129 36,640 43,487 35,769 The notes on pagts 8 to 14 forn? pArt of thes• financial ststem•nts. Haffield Philharnionic Orchestra Notes to the Financial Statements Year ended 31 July 2025 Gengfdl infonnatlon The charity is a public benefit entity and a registered ¢harrty in England and Wales and is unin¢orporated. The address ofthe prrncipal Offi￿ is fimbers, Cheverells Green, Markyate, Herts, AL3 8RN. Statement of eomplian¢e These financial statements have been Pfepared in Complian￿ with FRS 102. The Financsal Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practice applicable to charttEs preparing their &counls in accordarTrce with the Financial Reporting Standard applicable in the UK and Re￿bI￿ of Ireland IFRS 102) {Charities SORP IFRS 102}l and the Chartties Act 2011. Accountin9 poll¢ies Basis of preparation The financial statenEnts have been prepared on the historical cost basis, as modified by the revaluation of ￿rtain financial assets and liabilitses and investrnent properb.es measured at fair value through income or expenditure. The financial statements are prepar&J in sterfing. wh￿h is the functh)nal currency of the entity. Going con¢em The accounts are prepared on a going COn￿M basis. The Trustees consider that there are no material uncertainties that cast significant doubt on the charty's ability to conts-nue as a going COn￿rn. Judgements and key sources of estlmation uncertalnty The preparation of the financial statewts requires management to make judgements, estimates and assumptions that affect the amounts reF¥)rted. These estimates and judgements are continually reviewed and are based on experien￿ and other factors. including expe¢lations of future events that are believed to be reasonable under the circumstan￿. Significantjudgements The Trustees consider that the judgemertts {apart from those Invo￿1ng estimations) that management have made in the process of apptying the entty'5 accounting policies have no significant effect on the amounts recognised in the financial ststements. Key Sour￿ of estimation uncertainty Accounting estimates and assumptions are made cOn￿mIng the ftrtU￿ and. by their natLtre will rarely equal the related actual outcome. The Trustees consider that the key assumptions and other sources of estimation uncertainty have no signiffcant risk of causing a matettal adjustment to the carrying amounts of assets and liabilities within the next financial year. Haffield Philhamionic Orchestra Notes to the Financial Statements Year ended 31 July 2025 Accounting policies (¢othued) Fund accounting Unrestricted funds are available for use at the dis¢retion of the trustees to fvrther any of the charity's purFW)ses. Designated fijnds are ￿n￿StriCted fvnds eaM￿rked by the trustees for particular fLthre project or commithEnt Resthcted funds are subjected to restricti.ons on their exFendTture declared by the donor orthrough the terms of an appeal, and fall into one of tsvo gJb-¢lasses.' restricted income fvnds or endowment funds. Incoming resources All inc4)me is included in the statement of financial activities when entitlement has passed lo the ¢hanty, it is probable that the economic beneffts asso¢oted wtth the trarFsaction will flow to the charity and the amount can be reliabty measured. The followng specific wlrcies are applied to parb"cular categories of income.. - income from donats.ons or grants is recognised when there is evidence of entilement lo the gift, receipt is probable and its amount can be measured reliabty. - legacy income is recognised when r￿lpt is probable and entiuement ts estsblished. - income from donated facilibes and servrtss are recognised in the accounts when received if the value can be reliably measured_ No amounts are included forthe contribution of general volunteers. - income from contracts for the suppty of setvtis is recognised wrth the delivery of the contracted service. This is classffied as unrestrrcted funds unless there is a contractual requirement for it lo e spent on a particular PUTF()se and retumed rf unspen( in which case it may be regarded as restricted. - income from tax ￿lief is recc¥Jnised in the year to which it rdates. Haffield Philhamionic Orchestra Notes to the Financial Statements (C￿￿11￿¢￿) Year ended 31 July 2025 Accountlng policies (¢onthl￿dI Resource8 expended Expenditure is r6rognised on an accruals basis as a liatslty ts ir￿U1red. Expendtture includes any VAT which cannot be fvlty recovered. and is classified under headings of the statement of financial activities lo which it relates.. expenditure on raising fvnds indudes the costs of all fvndraising activrties, events. non- charitable trading activities. and the sale of donal8J goods. expendtture on charitable activrties indudes all costs incurred by a charity in undertaking activities that further its chatitabie aims for the benefft of its beneficiaries, including those support costs and costs relating to the govemance of the chanty apportioned to charitable activities. other expenditure includes all expenditure that is neither ￿lated to raising funds for the charity nor part of its eynditure on charitable acbvrties. I costs are allocated to expendFture categories reffecting the use of the resou￿. Direct costs attributable to a single activity are allocated directly to that acbvFty. Shared Costs are apportioned betsveen the activrtres they contribute to on a ￿aSOnable, justs'fiable and consistent basis. Finan¢ial Instrnments A finan¢ral asset or a finanaal liability is reccgnFsed onty when the entty becomes a paty to the contractual provisions of the instrument Basic financial instruments are initially recognised al the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a ffnancing transaction, where it is recognised at the present value of the futu￿ payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilittes are subsequently rr￿ured at the cash or other consideration expected to be paid or recENed and not discounw. Donations and legacies Unrestr￿ed Totsl Funds Unrestricted Totsl Funds Funds 2025 Funds 2024 Sponsorship UH Arts Income 31.836 31.836 22,516 22,516 Charitablg aclivities Unrestrtcted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Income from sale of programn 425 425 10 Haffield Philharmonic Orchestra Notss to the Financial Statements (Ctythu Year ended 31 July 2025 Invesknent income UnreStrirt￿ Totsl Funds Unrestr￿ed Total Funds Funds 2025 Funds 2024 Bank inlerest r￿1Vable 470 470 386 Other income Unrestricted Total Fundy Unrestricted Total Funds Funds 2025 Funds 2024 Members subscriptions Patron subscriptions Donations Gift aid 9,408 430 933 1,700 9.408 430 933 1,700 9,255 30 9,255 30 1,780 11.065 1,780 12.471 12.471 11,065 Expgnditure on charitablè actfvi¢ies by fund type Unrestrthd Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Rehearsing for and perfomiing concerts Support costs 36,957 35 36,957 35 32.737 35 32,737 35 36,992 36,992 32.772 32.772 Expendlture on charitable actlvities by activlty ty Activrtres undertaken diredy Support Total funds costs 2025 Total fund 2024 Rehearsing for and perfomling ¢oncens Governan￿ costs 36.957 32,957 35 32,737 35 35 36.957 36,992 32,772 10. Analysis of support costs Total 2025 Total 2024 Finance costs 11. Independent gxaminatlon fees No fees were charged by the Independent Examiner. 12. Staff costs 11 Hatfield Philharmonic Orchestra Notes to the Financial Statements Iconthu• Year ended 31 July 2025 12. Staff costs (conlinu8dJ The average head count of ery)kiyees during the year was Nil (2024.. Nil). No employee received empioyee benefits of than £60.000 during the year {2024". Nill. 13. Tntstee remuneration and expenses No remuneration or other benefits from employment wth the charity or a related entrty were received by the trustees. 14. Inv•5tmgnts Shares In group undertaking Cost or valuation At 1 August 2024 and 31 Juty 2025 Impaimient At 1 August 2024 and 31 July 2025 Carrying amount At 31 July 2025 At 31 July 2024 l investrnenls shown al>ove are held at valuation. 15. Debto 2025 2024 Other debtors 13,433 13,366 The debtors mainly relate to amounts owed by de Havilland Philharynonic Productions Ltd in relab.on the Orchestra Tax Relief. 12 Hatfield Philhamionic Orchestra Notes to the Financial Ststements (cuthue4 Year ended 31 July 2025 16. Anatysis of charitable fvnds UnroStrKtsd funds At 1 August 24 At Income Expendf(ure 31 July 25 44.777 (34,874) 56,922 General funds 47,019 At 1 August 23 Income Expenditure At 31 July 24 34.392 {32.772) 47.019 General fvnds 45.399 Restricted funds At 1 August 24 Income Expenditure At 31 July 25 R Kitchenman Fund J Mayhew FLEnd 1.800 318 11,8001 1318} 2.118 1 August 23 InconE Expenditure At 31 Juty 24 1,800 318 R Kitchenman Fund J Mayhew Fund 1.800 318 2.118 2,118 17. Analysi$ of net assets between funds UnrestrTCted Funds Restricted Total Funds Funds 2025 Current assets 56,922 49,137 Unrestricted Funds Restricted Total Funds Funds 2024 Current assets 47,019 2,118 49,137 13 Hatfield Philhamionic Orchestra Notes to the Financial Statements f¢ontinuedJ Year ended 31 July 2025 18. Finan¢ial Instfumgnts The carrying an￿￿nt for each category offinanaal instrument as folbws.. 2025 2024 Financlal assets that are debt instruments measured at amortised cost Financial assets that are debt instruments measured at amorbsed cost 56,922 49,137 19. Analysis of change8 In net debt At At 1 Aug 2024 Cash flows 31 Jul 2025 35.769 Cash at bank and in hand 7.718 43,487 20. Related parties The Charty has a 1CK)% subsidiary, De Havilland Philharmonic Productions Limited. This company was set up for the express purpose of claiming Orchestra Tax Relief I'OTR") on all cOn￿rt producb.on costs. In order to facilrtate this the Charity loans a maximum of £7,000 per concert lo DHP Productions Ltd to fund the costs of each concerL 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 airKJunt billed to the Charity was £36,957 12024 £32,737). DHP Production Ltd then makes the claim for relief leaving the subsidiary tx)mpany wlth no profft or loss. The OTR receivable is £10.710 {2024 £9.2551. 14