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# REGISTERED COMPANY NUMBER 01689619 ( England and Wales) REGISTERED CHARITY NUMBER 514479 

# Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 August 2020 for 

The Friends of the City of Sheffield Youth Orchestra Limited (A Company Limited by Guarantee) 

Heather Lea Business Services 

49 Heather Lea Avenue Sheffield $17 3DL 



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THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED (A Company Limited by Guarantee) 

## Contents of the Financial Statements for the Year Ended 31 August 2020 

||||
|---|---|
||Page|
|Report ofthe Trustees|1--3|
|Independent Examiner's Report|4|
|StatementofFinancial Activities|5|
|Balance Sheet|6|
|NotestotheFinancialStatements|7--12|





q 

THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED (A Company Limited by Guarantee) 

Report of the Trustees for the Year Ended 31 August 2020 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of the Accounting and Reporting by Charities: 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) (effective | January 2019). 

## REFERENCE AND ADMINISTRATIVE DETAILS 

The Friends of the City of Sheffield Youth Orchestra is a company limited by guarantee and a charity with trustees who are elected at the Annual General Meeting. 

## Trustees 

ME Anderson (Appointed | January 2020) Ash A G Ash § J (Resigned | January 2020) Cropper K Czauderna C Hodgson B J Hodgson J WM Jarvis T (Resigned 2 January 2020) Jellinek Dr DA ( Appointed 1 January 2020) LiL (Resigned 3 November 2020) K Shah (Resigned 3 November 2020) A R Shrimpton (Appointed 3 November 2020) Woodhead E K (Resigned 3 November 2020) 

Registered Office 49 Heather Lea Avenue Sheffield $17 3DL 

Company Secretary Hodgson B J 

## Independent Accountant 

D Mangles FCA 

Heather Lea Business Services 49 Heather Lea Avenue Sheffield $17 3DL 

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THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED 

( A Company Limited by Guarantee) 

## Report of the Trustees for the Year Ended 31 August 2020 

## REFERENCE AND ADMINISTRATIVE DETAILS — (Continued) 

Registered Company number 01689619 

Registered Charity number 514479 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## Governing document 

The charity is controlled by its governing document, its memorandum and articles, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

The Friends of the City of Sheffield Youth Orchestra Limited is an incorporated body and was established on 31 December 1982. It is a registered charity, no 514479. 

## Risk Management 

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. We consider that the systems we have in place to mitigate such risks appear to be adequate in normal circumstances. 

## OBJECTIVES AND ACTIVITIES 

## Significant activities 

The principal activity of the company continues to be to work for the advancement of the education of the public in appreciation of the art and science of music by aiding and fostering the orchestral training of young musicians from within the City of Sheffield and surrounding areas. 

## FINANCIAL REVIEW 

## Reserve Policy 

It is the policy of the company to maintain unrestricted funds at a level that equates to approximately 1 year's unrestricted expenditure. This varies depending on whether home or overseas tours are undertaken, and averages at around £95,000. This would be sufficient to cover all costs and concerts for an average year. 

Due to the Covid-19 pandemic, both the Spring and Summer courses were cancelled during the 2019/2020 financial year, resulting in a significant underspend on direct expenditure compared with previous years, and a reduction in Concert and Course income. 

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THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED ( A Company Limited by Guarantee) 

## Report of the Trustees for the Year Ended 31 August 2020 

## STATEMENT OF TRUSTEES' RESPONSIBILITIES 

The trustees (who are also the directors of The Friends of the City of Sheffield Youth Orchestra for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. 

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and the application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements the trustees are required to 

- select suitable accounting policies and apply them consistently 

- observe the methods and principles in the Charity SORP 

- make judgements and 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 trustees are responsible for the keeping of proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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, 

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 

By order of the Board 

B J Hodgson Secretary 

Dated 16 November 2020 

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THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED 

(A Company Limited by Guarantee) 

## Independent Examiner's Report to the Trustees of The Friends of the City of Sheffield Youth Orchestra Limited 

## Independent examiner's report to the trustees of The Friends of the City of Sheffield Youth Orchestra Limited (‘the Company’) 

I report to the charity trustees on my examination of the accounts of Company for the year ended 31 August 2020 

## Responsibilities and basis of report 

As the charity's trustees of the Company (and also its directors for the purposes of company law ) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act") ‘ 

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination ofyour charity's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. 

## Independent examiner's statement 

I have completed my examination . I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

- 1) accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 

- 2) the accounts do not accord with those records; or 

- 3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 

- 4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ] 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enabje a proper understanding of the accounts to be reached D Dp FR Mangles FCA P Qasr Yours Dated 16 November 2020 Heather Lea Business Services Chartered Accountants 49 Heather Lea Avenue Sheffield 

$17 3DL 

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THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED 

(A Company Limited by Guarantee) 

## Statement of Financial Activities for the Year Ended 31 August 2020 


**----- Start of picture text -----**<br>
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Note|Courses|Other|Other|Total|Total|
|Unrestricted|Restricted|Unrestricted|2020|2019|
|Funds|Funds|Funds|
|E|£|£|£|£|
|INCOME|FROM|
|Patrons|-|.|7,598.00|7,598.00|7,286|
|Membership|-|-|6,300.00|6,300.00|7,810|
|Grants and donations|2|-|-|10,500.37|10,500.37|5,050|
|Concerts|3,911.53|-|-|3,911.53|7,370|
|Courses|9,752.82|-|-|9,752.82|32,788|
|Sundry receipts|.|-|375.80|375.80|220|
|Programmes|100.00|-|-|100.00|247|
|Refreshments|411.00|-|-|411.00|223|
|Bank|interest|2|-|-|486.96|486.96|323|
|Sale of|C Ds|42.00|-|-|42.00|281|
|Alumni|-|-|3,311.99|3,311.99|-|
|Total|Income|14,217.35|-|28,573.12|42,790.47|61,598|
|EXPENDITURE ON|
|Direct|costs|17,113.28|-|2,150.36|19,263.64|68,580|
|Total|Expenditure|3|eea17,113.28|£05.05-|2,150.36|19,263.64|98,96068,580|
|NET INCOMEXEXPENDITURE)|(|2,895.93)|-|26,422.76|23,526.83|(|6,982)|
|RECONCILIATION OF FUNDS|
|Transfers|between|funds|2,895.93|-|(|2,895.93)|-|-|
|-|-|23,526.83|23,526.83|(6,982)|
|Funds|brought|forward|-|500.00|98,870.05|99,370.05|106,352|
|TOTAL FUNDS CARRIED FORWARD|£|~|£|500.00|£122,396.88|£|122,896.88|<£|99,370|

**----- End of picture text -----**<br>


The notes form part of these financial statements 

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THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED 

(A Company Limited by Guarantee) 

## Balance Sheet At 31 August 2020 


**----- Start of picture text -----**<br>
2020 2019<br>Notes £ £ £ £<br>FIXED ASSETS<br>Tangible assets 4 292.00 4,583<br>CURRENT ASSETS<br>Debtors 5 6,956.52 1,179<br>Cash at bank and in hand 118,293.48 106,019<br>125,250 107,198<br>CREDITORS<br>Amounts falling due within one year 6 2,645.12 2,546<br>NET CURRENT ASSETS 122,604.88 104,652<br>TOTAL ASSETS LESS CURRENT LIABILITIES 122,896.88 109,235<br>NET ASSETS £ 122,896.88 109,235<br>FUNDS<br>Unrestricted 7 122,396.88 105,852<br>Restricted 8 500.00 500<br>122,896.88 106,352<br>TOTAL FUNDS FUNDS £ 122,896.88 106,352<br>**----- End of picture text -----**<br>


## TOTAL FUNDS FUNDS 

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020 

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006. 

The trustees acknowledge their responsibilities for 

- a) ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Act 2006 and 

- b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable companies 


**----- Start of picture text -----**<br>
The financial statements were approved by the Board of Trustees on 16 November 2020 and were signed on its<br>behalf by<br>M. dwleromr BY!Hohn<br>M E Anderson B J Hodgson<br>Trustee Trustee<br>**----- End of picture text -----**<br>


The notes form part of these financial statements 

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THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED ( A Company Limited by Guarantee) 

## Notes to the Financial Statements 

## for the Year Ended 31 August 2020 

## 1 ACCOUNTING POLICIES 

## 1.1)Basis of preparing the financial statements 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP ( FRS 102) ' Accounting and Reporting by Charities: 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) (effective | January 2019)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention 

## 1.2) Income 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured accurately. 

## 1.3) Expenditure 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer ofeconomic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## 1.4) Taxation 

The charity is exempt from corporation tax on its charitable activities. 

1.5) Tangible fixed assets Assets that are capitalised are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life as follows: 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|Office equipment|25%|straight|line|
|Music|stands|15%|straight|line|
|Electrical|Musical|instruments|25%|straight|line|
|Other|Musical|instruments|15% straight|line|

**----- End of picture text -----**<br>


## 1.6) Fund accounting 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

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## THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED 

(A Company Limited by Guarantee) 

Notes to the Financial Statements for the Year Ended 31 August 2020 

## 2 INCOME 

||||Restricted|Unrestricted|Unrestricted||Total||Total|
|---|---|---|---|---|---|---|---|---|---|
||||Other||Other||2020||2019|
||||£||£||£||bs|
|Grants and donations||||||||||
|Otherdonations|||-||2,992.29||2,992.29||1,500|
|Gift aid|.||-||3,008.08||3,008.08||3,550|
|James Neill Trust Fund|||-||1,000.00||1,000.00||-|
|Sheffield GrammarSchool Exhibition Foundation|||-||1,500.00||1,500.00||-|
|SheffieldTown Trust|||-||2,000.00||2,000.00||-|
|||£<br>-<br>£<br>10,500.37<br>£<br>10,500.37<br>———————————————————————————————$———————||||||£<br>5,050<br>———————————emes||
|Bank interest||||||||||
|Bankinterest||£|-|£|486.96|£|486.96|£|323|



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THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED 

(A Company Limited by Guarantee) 

## Notes to the Financial Statements for the Year Ended 31 August 2020 

## 3 EXPENDITURE 

|EXPENDITURE|||||||||
|---|---|---|---|---|---|---|---|---|
||Restricted||Unrestricted|||Total||Total|
||Other||Courses|Other||2020||2019|
||||E|£||£||£|
|Printing, postage, stationery& telephone||.|-|-||-||71|
|Accountancy||.|:|450.00||450.00||900|
|Bank charges||-|-|66.00||66.00||60|
|General expenses|:|-|-|236.38||236.38||157|
|CD/DVDrecording costs||-|.|61.90||61.90||117|
|Course accommodation, feesandexpenses||-|10,622.78|-||10,622.78||57,500|
|Insurance||-|.|635.34||635.34||930|
|Honorarium||-|4,407.00|-||4,407.00||4,590|
|Web sitecosts||-|-|493.15||493.15||19|
|Depreciation||-|1,183.00|-||1,183.00||3,108|
|Performing Rights||-|-|-||-||148|
|Recording license||-|.|-||-||98|
|Various players hired||-|.|-||-||250|
|Flyers||.|21231|-||212.31||-|
|Coastercosts||-|-|.||.||126|
|Instrument Repairs||-|-|-||-||224|
|Subscription||-|-|50.00||50.00||196|
|Photographs||-|-|=||-||185|
|Repairs cables etc||-|-|( 2.09)||( 2.09)||6|
|Computersoftware||-|-|-||-||68|
|Travel costs||.|-|-||-||123|
|Winter party||-||159.68||159.68||-|
|Fleeces||-|688.19|-||688.19||-|
||£<br>SS|.<br>£<br>17,113.28<br>£<br>2,150.36<br>00=—————oooloOoOeeee|||£|19,263.64|£|68,876|



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a 

THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED 

(A Company Limited by Guarantee) 

## Notes to the Financial Statements for the Year Ended 31 August 2020 

|4 Tangible fixed assets|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||Office||Music|Electrical|||Musical||Trailer||Total|
||Equipment|||Stands|Instruments||Instruments||||||
|||£||=||£||£||£||£|
|Cost|||||||||||||
|As at 31 August2019||6,788.98||1,500.00||846.00||17,763.00||1,400.00||28,297.98|
|Disposals||||-||.||.||||3|
|Additions||--||-||-||-||-||-|
|As at31 August2020||6,788.98||1,500.00||846.00||17,763.00||1,400.00||28,297.98|
|Depreciation|||||||||||||
|As at31 August2019||5,877.98||1,499.00||844.00||17,762.00||840.00||26,822.98|
|On disposals||-||||=||.||si||z|
|Charge forthe year||903.00||-||-||-||280.00||1,183.00|
|As at31 August2020||6,780.98||1,499.00||844.00||17,762.00||1,120.00||28,005.98|
|Net book value|||||||||||||
|At 31 August2019|£<br>8.00<br>_—EEE<br>ss||¢£<br>100<br>£<br>200<br> EE||||€£<br>100<br> =———SSSOlle||£<br>280.00<br>Olle||£<br>292.00<br> ——————————||
|At 31 August 2018|£|911|¢£|1|£|2|¢&£|1|¢€£|560|¢£|1,475|
|||||||||||2020||2019|
|||||||||||£||=|
|5 Debtors|||||||||||||
|Prepayments||||||||||6,956.52||1,488|
||||||||||£|6,956.52|£|1,488|
|6 Creditors :Amounts fallingdue|due|within oneyear|year||||||||||
|Accruals and provisions||||||||||2,645.12||9,612|
||||||||||£|2,645.12|£|9,612|



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THE FRIENDS OF YHE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED 

(A Company Limited by Guarantee) 

## Notes to the Financial Statements 

## for the Year Ended 31 August 2020 

## 7 MOVEMENT IN FUNDS 


**----- Start of picture text -----**<br>
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|31|August|Incoming|Outgoing|Transfers|31|August|
|2019|resources|resources|2020|
|£|£|5|£|£|
|Unrestricted|funds|
|General|fund|98,870.05|42,790.47|19,263.64|-|122,396.88|
|Restricted|funds|
|Staging|(Siemans|Vai)|500.00|-|-|.|500.00|
|TOTAL FUNDS|£|99,370.05|<£|42,790.47|£|19,263.64|£|-|£|122,896.88|
|Comparatives|for movement|in|funds|
|31|August|Incoming|Outgoing|Transfers|31|August|
|2019|resources|resources|2018|
|z|£|£|E|£|
|Unrestricted|funds|
|General|fund|105,851.91|61,598.49|68,580.35|-|98,870.05|
|Restricted|funds|
|Staging|(Siemans|Vai)|500.00|-|-|-|500.00|
|TOTAL FUNDS|£|106,351.91|<£|61,598.49|£|68,580.35|£|-|£|99,370.05|
|—ooOOuOu“c__= a|—————————————————————_—_—____—————————————|

**----- End of picture text -----**<br>


## 8 TAXATION 

The company is a registered charity and therefore is exempt from Corporation Tax 

## 9 TRUSTEES' REMUNERATION AND BENEFITS 

There was no trustees’ remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019. 

- 10 Trustees' Expenses There were no trustees’ expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019. 

## 11 VOLUNTEERS 

The charity benefits from volunteers who spend many hours working on its behalf. Some volunteers do not claim out of pocket expenses. It is impossible to place a value on this voluntary help. 

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7 

THE FRIENDS OF THE CITY OF SHEFFIELD YOUTH ORCHESTRA LIMITED 

## (A Company Limited by Guarantee) 

## Notes to the Financial Statements for the Year Ended 31 August 2020 

## 12 OTHER HELPERS 

On each course held by the trust it uses self employed music teachers as tutors to assist the conductor in the preparation of the concert and all these people receive some remuneration. 

## 13 AVERAGE NUMBER OF EMPLOYEES 

The average number ofemployees during the year was NIL (2019 NIL) 

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