BUSHEY SYMPHONY ORCHESTRA
## BUSHEY SYMPHONY ORCHESTRA
REPORT AND ACCOUNTS 31 JULY 2022
|Contents|Page No|
|---|---|
|Annual Report|1|
|Report of the Trustees|3|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Accounts|7|
|Independent Examiner's Report|9|
BUSHEY SYMPHONY ORCHESTRA
Page 1
ANNUAL REPORT for the year ended 31 July 2022
## **Chair's Report**
We were grateful to be able to enjoy a full and successful season this year, although Covid contingency planning remained an important part of the committee’s work in the run up to each concert. We began the year with socially distanced seating, reverting during the course of the year to a more regular audience seating arrangement. Audiences enjoyed the fruits of the orchestra’s hard work and George Vass’s excellent and imaginative programming as we found joy again in live music making. George Vass, Martin Smith and Alison Wyatt, our three professionals, (conductor, leader and principal second violin respectively), led, supported and coached the membership to enable us to achieve the high standards towards which we always strive. Thanks to each of them for all their hard work.
Our Benefactors and Friends continue to provide the orchestra with essential financial support. We are very grateful for their loyalty and generosity, and glad that we are once again able to offer a tangible return, over and above our simple survival which they so generously supported during the pandemic. Brian and Jill McAdam have continued to work hard on the orchestra’s behalf, looking after the Benefactors and Friends, and we are grateful to them.
The Chair and Secretary roles changed hands at the last AGM. Jim Hall has taken on the vacant secretary role, Joanna Buxton continues as Treasurer, Karen Dore as Orchestra Manager, and Sue Stephens on publicity. Peter Lewy has continued to provide an invaluable service to the orchestra running the box office. He will be standing down during the coming year, having, with typical generosity, offered to stay on until his replacement is trained. I would like to record my thanks for all his hard work and service. Debbie has kindly stepped in to take over the Librarian role. The new committee has worked extremely well together, holding efficient and focussed meetings via Zoom. I have been very grateful for all of my trustee colleagues’ industry and reliability, which makes my job as Chair less onerous than it might otherwise be.
Lana Wood
Date:
BUSHEY SYMPHONY ORCHESTRA
Page 2
## **Financial Report**
We are continuing to see the inevitable financial implications of the Coronavirus pandemic on the 2021-2022 season. Whilst ticket sales have been hard to predict and lower than in previous years, there have been two positive outcomes to our financial planning and therefore position. The first is a temporary increase in the amount of Orchestra Tax Relief we are able to claim from Inland Revenue (we claimed 50% instead of the usual 25% for three of the four concerts in the 2021-2022 season), the benefit of which we will see during the current season. The second is an earlier push for Friends and Benefactors to commit to supporting us through their sponsorship and subscriptions which ensured we could begin the 2022-2023 season with a more certain start.
As last year, Income and Expenditure are not usefully comparable with previous years. By the end of the financial season the total net assets were up to £10,606 from £7,579 in 2021. We asked for the usual contribution to member subs, this year. Concerts inevitably cost us more to put on than we make from ticket sales, but our accounts are supported by member subscriptions, OTR and Gift Aid claims. These are all higher than in previous years.
Bushey Symphony Orchestra will still need to consider its financial position carefully as the elevated rate of OTR is due to end before the end of the 2022-2023 season.
Our reserves are in a good state which will make it easier for us to react flexibly to the changing situation. However we still need to be mindful that unusual measures may need to continue into future seasons as well. We hope to continue making music for the benefit of our audience, membership and supporters. Where possible we would also like to support our professional musician colleagues, many whose livelihoods have been badly affected by the pandemic.
Finally, I'd like to thank all members, benefactors, friends, supporters and audience for their patience and continuing support.
## Joanna Buxton
Date:
## **Conductor's Report**
The Bushey Symphony Orchestra bravely mounted a four-concert season of Sunday matinee concerts during the 2022/23 season, using a socially-distanced seating plan for three of them. The programme included a range of symphonies by Beethoven, Berwald, Gade and Haydn with concertos by Max Bruch (for clarinet and viola with soloists Sarah Jenkins and Rosalind Ventris), Mendelssohn (for violin with Benjamin Nabarro) and Dvorak (for cello with Gemma Rosefield). The BSO’s leader, Martin Smith, delighted a large audience with Vaughan Williams’ ‘The Lark Ascending’.
The orchestra continued to offer practical playing experience for young professional musicians, with the committee and general membership working extremely effectively, ensuring the smooth running of the organisation. The orchestra’s audience numbers gradually increased as the season progressed.
The BSO continues its partnerships with The Grange Academy, Bushey as a concert venue and with St Margaret’s School, Bushey, where it is afforded a light and airy rehearsal space, with excellent facilities. The orchestra continues to grow, but still has difficulty in attracting string players of the necessary standard.
George Vass
Date:
BUSHEY SYMPHONY ORCHESTRA
Page 3
REPORT OF THE TRUSTEES for the year ended 31 July 2022
The Trustees have the pleasure in presenting their report and consolidated financial statements of the charity and its subsidiary for the year ended 31 July 2022, which have been prepared in accordance with the standards set out in the Statement of Recommended Practice for charities, issued by the Charity Commissioners for England and Wales.
## **Objective and activities**
The primary aim of the Bushey Symphony Orchestra (BSO) is to advance the education of the public in the art of music, in particular with regard to orchestral performances. All the income and property of the BSO is applied to this aim.
When planning our activities for the year we have considered the Commission's guidance on public benefit and believe that this requirement is met through:
- the presentation of public concerts given by the orchestra.
- welcoming members of all adult ages and from a wide range of backgrounds and musical capabilities.
- providing opportunities for members to develop their musical skills and knowledge of musical repertoire.
- • Encourage young people to be involved in classical music with reduced price membership fees and ticket prices.
## **Charity details**
The full name of the charity is the 'Bushey Symphony Orchestra'. The BSO is an unincorporated association with a constitution adopted 19 February 1985 amended 24 November 2015 as its governing document and is controlled by a committee of officer trustees. It is a registered charity with the Charity commissioners under number 292080. None of the trustees receive any remuneration or benefit in respect of their duties on behalf of the BSO. The address of the BSO is 2 Armitage Close, Loudwater, Rickmansworth WD3 4HL.
The trustees of the BSO are its committee members elected at the AGM. Those trustees who have served during the year are as follows:- Duncan Brown (Chairman, acting Secretary, retired 13.12.2021), Lana Wood (Chair, from 14.12.2021), Jim Hall (Secretary, from 14.12.2021) Gary Taylor (Treasurer, retired 5.4.2021), Joanna Buxton (Treasurer, from 6.4.2021) Stephen Greengrass (Orchestra Manager, retired 5.4.2021), Karen Dore (Orchestra Manager, from 6.4.2021) Sue Stephens (Publicity) and Peter Lewy (Box Office). In addition George Vass attended the management committee meetings held throughout the year. Stephen Greengrass and Gary Taylor officially resigned from their positions as Orchestra Manager and Treasurer in April 2021. The Committee wishes to thank both Stephen and Gary for their hard work and commitment during their lengthy service.
The BSO's bankers are Barclays Bank plc. The Independent Examiner is Peter Aubusson whose address is shown at the foot of his report.
## **Reserves policy**
The BSO aims to start each season with a reserve at least covering the greatest total deficit that could be reasonably expected to accumulate during the season.
## **Risk management**
The trustees have examined if there are any major risks the BSO faces and consider that, apart from public liability against which they have taken out insurance, the BSO's management committee reviews and reports ensure no other major risk is likely to arise or if it did that immediate action would be taken to minimise the extent of any risk.
BUSHEY SYMPHONY ORCHESTRA
Page 4
REPORT OF THE TRUSTEES for the year ended 31 July 2022 continued
## **Financial structure and review**
On 8[th] August 2017 the Trustees set up a subsidiary company, BSO Production Ltd, for the purpose of producing concerts in order to claim Orchestra Tax Relief on production costs. Income and Expenditure for Bushey Symphony Orchestra and its wholly owned subsidiary BSO Production Ltd (company number 10904611) have been consolidated for this report.
Total income in the year ended 31 July 2022 was £25,678 which includes £5,813 expected from the HMRC Orchestra Tax Relief scheme and Gift Aid scheme. We performed four concerts this season albeit with limited seating due to post pandemic social distancing requirements. Total expenditure was £22,651. BSO finished the year with £10,606 and the financial state of affairs of the BSO as at 31 July 2022 was satisfactory.
## **Statement of trustees' responsibilities for the financial statements**
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the BSO's incoming resources and application of resources during the year and of its state at the end of the year. In preparing those financial statements they are required to select suitable accounting policies and then apply them consistently, make judgements and estimates that are reasonable and prudent, 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, and prepare the statements on a 'going concern' basis unless it is inappropriate to presume the BSO will continue in operation.
The trustees’ responsibilities include keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and ensuring that the financial statements comply with the Charities Acts. The trustees are also responsible for safeguarding the BSO's assets and hence for taking reasonable steps for the prevention of fraud and breaches of law and regulation.
We hereby approve the financial statements and notes set out on the following pages.
On behalf of the trustees
Lana Wood Chair
Date:
BUSHEY SYMPHONY ORCHESTRA
Page 5
## STATEMENT of FINANCIAL ACTIVITIES for the year ended 31 July 2022
## INCOME AND EXPENDITURE
|**Incoming resources**
Concert tickets, programmes and refreshments
Subscriptions - members
Subscriptions – friends and benefactors
Advertising
Bank Interest
Sponsorship, donations and other funding (note 5)
HMRC Tax Relief (note 4)
Other income
**Total income**
**Resources expended**
Conductor's rehearsal and concert fees
Soloists' fees
Leader's fees
Extra players' fees
Hire of halls
Music/Instrument hire
Making Music subscription/PRS/insurance
Sales and publicity, printing, stationary and website
Administrative and miscellaneous costs
BSO Production Commissioning Fee (Note 8)
**Total resources expended**
Net (outgoing)/incoming resources for the year
Balances brought forward 1 August 2021
**Balances carried forward 31 July 2022**|**2022**
**2021**
**Consolidated Consolidated**
Total
Funds
£
Total
Funds
£
8,250
1,709
4,000
975
6,045
90
500
0
0
1
880
49
5,812
852
191
125
**25,678**
**3,801**
4,760
1,325
1,150
0
1,880
630
8,095
1,345
3,400
840
1,074
170
779
550
1,224
215
289
91
-
-
**22,651**
**5,166**
3,027
(1,365)
7,579
8,944
**10,606**
**7,579**|
**2022**
**2021**
**Charity**
**Charity**
Total
Funds
£
Total
Funds
£
8,250
1,709
4000
975
6,045
90
500
0
0
1
880
49
1,000
190
191
125|
|---|---|---|
|||
**20,866**
**3,139**|
|||
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
17,839
4,504|
|||
**17,839**
**4,504**|
|||3,027
(1,365)
7,579
8,944|
|||
**10,606**
**7,579**|
The Bushey Symphony Orchestra has no recognised gains or losses other than those included in the above Consolidated Statement of Financial Activities and therefore no statement of recognised gains and losses has been presented. There is no difference between the net incoming resources for the year as shown in the Consolidated Statement of Financial Activities and their historical cost equivalents.
BUSHEY SYMPHONY ORCHESTRA
Page 6
BALANCE SHEET at 31 July 2022
|Total Funds
Unrestricted fund
Balance as at 31 July 2022
**Total Funds**
Represented by
Total net assets
Amount Owed by BSO Subsidiary (Note 9)
Debtors and prepayments
(Note 6)
Balances at bank
Current account
Deposit account
Sales account
BSOP account
Cash in Hand
Less accrued expenses and income received in
advance (Note 7)
**Total net assets**|**2022**
**2021**
**Consolidated Consolidated**
£
£
10,606
7,579
**10,606**
**7,579**
-
-
6,003
853
1,794
3,061
318
2,457
2,133
1,719
2,628
1,770
6,873 9,007
150
150
(2,420)
(2,430)
**10,606**
**7,579**|**2022**
**2021**
**Charity**
**Charity**
£
£
10,606
7,579|**2022**
**2021**
**Charity**
**Charity**
£
£
10,606
7,579|
|---|---|---|---|
|||**10,606**
**7,579**||
|||7,016
1,997
1,190
190||
|||1,794
318
2,133
-|3,062
2,457
1,719
-|
|||4,245 7,238
150
150
(1,995)
(1,995)||
|||**10,606**
**7,579**||
The notes to the Accounts form part of the Financial Statements. The Financial Statements comprising the Consolidated Statement of Financial Activities, Consolidated Balance Sheet and Notes were approved by the Trustees and were signed on behalf of the Bushey Symphony Orchestra by:-
Lana Wood, Trustee [Date: ]
Joanna Buxton, Trustee [Date: ]
BUSHEY SYMPHONY ORCHESTRA
Page 7
## NOTES TO THE ACCOUNTS for the year ended 31 July 2022
1 Basis of accounting These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102) Update Bulletin 1) and the Charities Act 2011.
## 2 Cash Flow Statement
The BSO qualifies as a small company under the terms of the Companies Act and is exempt from the requirement to publish a Cash Flow Statement under Charities SORP(FRS 102) Update Bulletin 1
## 3 Accounting policies
The financial statements have been prepared under the historical cost convention and the principal accounting policies are as follows:-
(a) All income and expenditure, including donations, sponsorship, bank and investment income is included in the Statement of Financial Activities on an accruals basis.
(b) The BSO is a registered charity and is exempt from all forms of taxation on its charitable activities.
(c) The BSO receives assistance in the form of donated services or facilities comprising management services by the trustees and other committee members and services by the independent examiner. No financial quantification of these intangible services has been included in the financial statements as the amount is not considered material.
(d) The BSO's assets are represented by one unrestricted general fund.
## 4 HMRC Tax Relief
|Gift Aid
Orchestra Tax
Relief
Estimate for year
Adjustment for
previous year|**Consolidated Consolidated Charity**
**Charity**
**2022**
**2021**
**2022**
**2021**
£
£
£
£
1,190
190
1,190
190
4,813
662
-
-
0
0
-
-|
|---|---|
||5,813
852
1,190
190|
Gift Aid tax recoverable for a fiscal year to 5 April is included in the financial statements ending 31 July in which that 5 April falls.
Orchestra Tax Relief (OTR) included within the financial statements represents the Trustees’ best estimate of the amount that will be recovered from HMRC in respect of the year ended 31 July. If the actual amount received from HMRC differs from the previous years estimate, it is shown here as an adjustment.
- 5 Sponsorship, donations and other funding
|Sponsorship and Benefactor Scheme
Donations|**Consolidated and Charity**
**2022**
**2021**
£
£
6,545
-
880
49|
|---|---|
||7,425
49|
BUSHEY SYMPHONY ORCHESTRA
Page 8
## 6. Debtors and Prepayments
||**Consolidated**|**Consolidated**|**Charity**|**Charity**|
|---|---|---|---|---|
||**2022**|
**2021**|**2022**|**2021**|
||£|
£|||
|Estimated Gift Aid Claim|1,190|190|1,190|190|
|Estimated HMRC OTR Payment|
4,813|
662|-|-|
||6,003|852|1,190|190|
7 Accrued Expenses and Advance Income
|Hall Hire
OTR Service
PRS
Advance Income for 2021/22
Music Hire|**Consolidated Consolidated Charity**
**Charity**
**2022**
**2021**
**2022**
**2021**
£
£
£
£
-
160
-
-
425
175
-
-
-
-
-
-
1,995
1,995
1,995
1,995
-
100
-
-|
|---|---|
||2,420
2,430
1,995
1,995|
## 8. BSO Production Commissioning Fee
|BSO Production Commissioning Fee||
|---|---|
|BSO Production Expenditure
HMRC OTR
Rounding
Commissioning Fee|**Charity**
**Charity**
**2022**
**2021**
£
£
22,651
5,166
(4,813)
(662)
1-|
||17,839
4,504|
## 9. Amount Owed by BSO Subsidiary
|Amount owed B/F
BSO subsidiary loan
Less Commissioning Fee
Payment already made
Rounding|**Charity**
**Charity**
**2022**
**2021**
£
£
1,997 5,716
22,859
6,500
(17,839)
(4,504)
-
(5,716)
1
-|
|---|---|
||7,016
1,997|
BUSHEY SYMPHONY ORCHESTRA
Page 9
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BUSHEY SYMPHONY ORCHESTRA (CHARITY NO. 292080)**
I report on the accounts of Bushey Symphony Orchestra for the year ended 31 July 2022, which are set out on pages 5 and 6.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:
- examine the accounts under section 145 of the Charities Act;
- follow the procedures laid down in the general Directions given by the Charity
- Commission (under section 145(5)(b) of the Charities Act); and
- state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that, in any material respects, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act;
- • to prepare accounts which accord with the accounting records and comply with
- the accounting requirements of the Charities Act have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Independent Examiner Date**
Peter Aubusson 21 Jennings Road, St Albans Herts AL1 4NU