Registered Charity number 800007 The Insurance Orchestral Society Financial Statements 31 July 2024 Crayshott Woodlands Road West Byfleet 14 6JW
The Insurance Orchestral Society Financial statements 2024 Registered Charity 800007 Contents Charity Information Report of the Trustees Independent Examinerfs Report Income and Expendlture Statement Accumulated Funds Notes to the Accounts
The Insurance Orchestral Society Financial statements 2024 Registered Charity 800007 Charity Information Trustees Mr A E Grant (Chairman) Mr P Austin Mr T Frederikse (Concert Manager) Mr D J Thorne (Treasurer and Orchestra Manager) MsSSToo Independent Examlner Mr R M Mansfield Bankers HSBC Canada Place Canary Wharf London E14 SAH Reglstered Offlce Crayshott Woodlands Road West Byfleet KT14 6JW Reglstered charlty number 800007
The Insurance Orchestral Society Financial statements 2024 Registered Charity 800007 Report of the Trustees The activities of the Insurance Orchestral Society remained unchanged during the financlal year under revlew. The sole actlvlty of the Society remalned the -London Phoenix Orchestra" performing its usual schedule of five concerts in the 202312024 season, in support of a very successful Centenary Year. As in previous years, the Soclety has been fortunate to partner wlth and support varlous charltles to the mutual benefit of both organisations and this past season was no exception. The Society continues to actlvely seek new charitable partnerships for future seasons. In normal years the financlal obllgations of the Society are met through the support of the President, Vice Presidents, Friends, Honorary Life Member5, Players, and its Corporate Members. To some degree, partnering with Corporates and charities helps to mitigate some Costs, whlch alleviates continued financial pressures. The Committee continues to keep the financial, cultural and environmental sltuatlons under revlew to facilltate the contlnuatlon of playing and performlng, conslstent with our resource5 and with the welfare of our players, patrons and the surrounding communlty In mlnd. The Trustees can conflrm that there have been no 'serlous Incldents, to report in the year to 31 July 2024, as deflned by the Charity Commission In thelr Guidance for Trustees. The mission of the Orchestra has been unchanged since its foundation In 1924; to provlde cultural recreation to people working In the Insurance industry and to be one of the best amateur orchestras in the Clty of London. The Orchestra celebrated its Centenary In the concerts performed durlng the perlod covered by these accounts. My thanks go to Lev Parikian for his leadership and creatlve guldance as our Conductor and to all members of the Committee for the generous glvln8 of their time free of charge In support of thls Society. Special thanks go to Re8 Brown, our President, who has tirelessly worked to support the Society and attract London market insurance flrms to 5UPPOrt our Orchestra. Finally, I would like to thank David Thorne who acts in the dual capacity as our Honorary Treasurer and Orchestra Secretary. His quiet efforts usually go unnotlced, but they are substantial and we remain hugely grateful to him. Alan E Grant Chairman On behalf of the Trustees
The Insurance Orchestral Society Financial statement5 2024 Registered Charity 800007 Independent Examinerfs Report Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of The Insurance Orchestral Soclety On accounts for the year ended 31st July 2024 Charlty no (If any) 800007 Set out on pages Respertlve The charlty's trustees are responslble for the preparatlon of the accounts. responslbllltles of trustees The charIt5 trustee5 conslder that an audit is not requlred for thls year and examlner under sectlon 144 of the Charltles Act 2011 (the Charltles Act) and that an Independent examlnation 15 needed. It Is my responsibility to: examine the accounts under sectlon 145 of the Charltles Act, follow the procedures lald down In the general Directlons given by the Charlty Commisslon (under sectlon 145(5)(b) of the Charities Act, and state whether particular matters have come to my attention. Basls of Independent My examination was carried out in accordance wlth 8eneral Dlrectlons given examlnerfs Statement by the Charlty Commission. An examlnatlon Includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It a150 includes consideration of any unusual items or disclosures In the account5, and seekin8 explanations from the trustees concerning any such matters. The procedures undertaken do not provlde all the evidence that would be required in an audit. and consequently no opinion is given a5 to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below.
The Insurance Orchestral Society Financial statements 2024 Registered Charity 800007 Independent examlner's statement In connection with my examination, no matter has come to my attention l. which gives me reasonable cause to belleve that in, any material respect, the requirements: to keep accounting record5 in accordance with 5ectlon 130 of the Charities Act; and to prepare accounts which accord with the accounting records and comply wlth the accountlng requirements of the Charlties Act have not been met; or 2. to whlch, In my opinion, attentlon should be drawn In order to enable proper understanding of the accounts to be reached. Sl8ned: Date: Name: Rlchard Mansfleld Relevant professlonal quallflcatlon(s) or body (If any): BA (Hons) In Accountancy Address: 25 Ridgeway Gardens London N6 5XR
The Insurance Orchestral Society Financial statements 2024 Registered Charity 800007 Income and Expenditure Statement Flgures in £ For the year ended 31 July 2024 2024 2023 Change Note INCOMING RESOURCES Subscrlptions and donatSons 40,766 43,045 {2,2791 Player subscrlptlons 10,426 12,148 11,722) Tax rebates 2,552 3,367 18151 Concert Income 13,082 9,488 3,594 Other Income 25 58 1331 Tot•1 Incomln8 resources 66,851 68,106 11,255) RESOURCES EXPENDEO Professlonal fees 22,670 17,049 5,621 Hlre char8es 34,359 28,683 5,676 Marketlng and prlntlng 5,774 3,239 2,535 Box office comm1s51on and ¢har8es 2,266 1,601 665 Corporate hospltallty 5,944 2,814 3,130 Sundry 4,224 1,044 3,180 Total r•sOUt$ expended 75.237 54N30 20,807 Net Incomlngl(out8olni) resources {8,3861 13,676 122,0621 Openlnl a¢¢umulated funds 30,420 16,744 13,676 Closlng accumulated funds 30020 18,386)
The Insurance Orchestral Societv Financial statements 2024 Registered Charity 800007 Accumulated Funds Figures In £ As at 31 July 2024 2024 2023 Change HSBC Communlty 21,981 30,369 {8,3881 HSBC BMM COIF 45 43 Total Ac¢umulated Funds 22,034 30.420 8,386 Note: All Corporate subscrlptions lincludln8 multiple year subscrlptlon51 are allocated to income In the year In whlch they are recelved. Corporate subscrlptlons relatlng to future perlods Included wlthln closing accumulated funds were: Less than l year 14,424 14,487 More than l year 1,086 6,385 Total 15,510 20,871 AE Grant Chairman DJ Thorne Treasurer Approved and authorised for issue by the board of trustees on 025
The Insurance Orchestral Society Financial statements 2024 Registered Charity 800007 Notes to the Accounts Figures in For the year ended 31 July 2024 I Subscrlptlons and donatlons Corporates Vlce Presldents and Friends Donatlons 2024 35,750 1,6(X) 3,416 40,766 2023 37,850 2,81X) 2,395 43,045 Change 12,100) 11,200) 1,021 (2,2791 2 Tax rebates No. of Glft Ald ellgible donors Total Glft Ald ell8ible donatlons 2024 49 10,185 2023 63 13,462 Change 1141 13,277) Tax reclaimed in current year: 2022123 2023124 Total tsx recovered In current year: 3,367 2,552 2,552 3,367 1815) 3 Concert Income Tlcket sales Programme sales 2024 12,690 392 13,082 2023 9,280 208 9,488 Change 3,41Q 3.594 4 Professlonal fees Regular professlonals Sololsts Concert extras ZOZ4 12,854 1,716 8,100 22,670 Z023 12,319 1,000 3,730 17.049 Chan8e 535 716 4,370 5,621
The Insurance Orchestral Society Financial statements 2024 Registered Charity 800007 5 Hlre charges Concert hall hire Rehearsal venue hire Muslc hire Instrument hlre 2024 21,494 5,642 4,369 2,854 34,359 2023 19,279 6,090 1,859 1,455 Z8.683 Change 2,215 {448) 2,510 1,399 5.676 6 Marketlng and prlntln8 Printin8 and artwork Marketln8 2024 5,678 96 5,774 2023 3,071 168 Chan8e 2,607 172} 2.535 3.239 7 Sundry Total 2024 4,224 2023 1,044 Chan8• 3,180 The fl8ure for 2024 Includes £2,424 In respect of the commlsslon of a new work In celebratlon of the Qrche5tra's centenary.