2023-12-31-accounts

----- Start of picture text -----
No
----- End of picture text -----

National Children's Orchestras of Great Britain

Registered company number: 02471385 Registered charity number: 803026 (England and Wales)

Audited financial statements for the year ended

31 December 2023

National Children's Orchestras of Great Britain For the year ended 31 December 2023 Contents

----- Start of picture text -----
|||||| |---|---|---|---|---| |Page| |Report|of the Trustees|1| |Independent|Auditor's|Report|15| |Statement|of|Financial|Activities|19| |Balance|Sheet|20| |Cash|Flow Statement|21| |Notes to the Cash|Flow Statement|22| |Notes to the|Financial|Statements|23|

----- End of picture text -----

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2023

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 December 2023. The Trustees have adopted the provisions of 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 1 January 2019).

GOVERNANCE, STRUCTURE AND MANAGEMENT

Governance Framework

The National Children's Orchestras of Great Britain is a charitable company limited by guarantee, incorporated on 19 February 1990 having acquired the whole of the assets, liabilities and activities of the National Children’s Orchestra, being a charitable trust created by a deed of trust dated 16 August 1978. The company was set up under a Memorandum of Association which established the objects and powers of the company and is governed under revised Articles of Association, adopted by the Board on 14 August 2019. The charity has no subsidiary undertakings.

The trustees (who are also the charity’s members) meet quarterly to receive management information from various areas of organisational governance and operations and to agree the strategic direction of the charity. Members meet once annually for the AGM. The Finance Committee also meet at least four times a year, prior to each Full Board Meeting, to approve and monitor financial control, reporting and authorisation systems to secure best practice standards of project control, financial forecasting, annual budgeting and quarterly financial reporting.

During 2023 the Board approved revised Terms of Reference for Members, the Trust Board and the Finance Committee and revised Scheme of Delegation from the trustees to the Executive Team. These are to be reviewed at least annually.

The day-to-day running of the charity is delegated to the Executive Team. However, there are clear areas of decision making retained by the Board (which are outlined in the charity’s governance framework and policies) and established reporting frameworks to allow the Board to make these decisions effectively. NCO’s policies also contain clear thresholds for reporting to the Board in areas such as Health and Safety, Data Protection, Finance and Safeguarding to facilitate robust monitoring by the charitv’s trustees.

A clear Scheme of Delegation from the Executive Team to the Senior Team was also created in 2023 and management grades introduced to reflect levels of delegated responsibility and accountability throughout the organisation.

Remuneration

Remuneration is reviewed annually by the Finance Committee for recommendation to the Board. In 2023, the Board agreed to make National Children’s Orchestras of Great Britain a Real Living Wage employer and staff salaries were adjusted accordingly throughout the year.

During 2023, a review of roles, responsibilities and remuneration was undertaken, including a salary benchmarking exercise. It resulted in the creation of clear pay bands for staff (aligned to the Organogram) which the Board approved in the December 2023 meeting.

Trustees are revising executive pay in 2024 and will agree an updated Remuneration Policy.

Trustee Induction and Training

As with staff recruitment, National Children’s Orchestras of Great Britain require references and enhanced DBS checks for new Trustees, in line with the charity’s Safeguarding Policy. New trustees are provided with access to the Safeguarding Policy, Articles of Association and Code of Conduct upon appointment.

A Code of Conduct specifically for Trustees was adopted in 2023.

Trustee induction includes a meeting with both the Chief Executive and the Chair of the Trust Board and the assignment of a buddy from the group of existing trustees.

A trustee audit was conducted in 2023, including a review of training. The data has been used to compile a succession and recruitment plan.

A

Report of the Trustees National Children’s Orchestras of Great Britain For the year ended 31 December 2023

Training and induction processes will be reviewed in 2024, following a Board self-evaluation exercise.

Administrative Information and Reference

Registered Company number 02471385 (England and Wales) Registered Charity number 803026

Registered Office and Principal Office Unit 2.3, Streamline Building 436-441 Paintworks

Bristol BS4 3AS

Trustees Louise Mitchell (Chair) (reappointed 31 May 2023) Janet Baker (Honorary Treasurer) Rosie Benneyworth (Lead Health and Safety Trustee) George Caird (reappointed 30 July 2023) Miranda Francis (Lead Safeguarding Trustee) . Fiona Harvey Beth Higham-Edwards Kadiatu Kanneh-Mason Jonathan Mayes (Vice Chair - elected Vice Chair 31 May 2023. Lead Environmental Trustee) Uchenna Ngwe William Norris Laetitia Stott Brian Weir (Lead Safeguarding Trustee) Christine Wu Lucy Maguire

Finance Committee Members Janet Baker (Hon. Treasurer) Rosie Benneyworth George Caird (resigned from committee 31 May 2023) Fiona Harvey Jonathan Mayes William Norris (appointed to committee from 31 May 2023)

Founder

Vivienne Price MBE

Executive Leadership Sophie Lewis - Chief Executive Catherine Arlidge MBE - Artistic and Educational Director

2

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2023

Auditors

Saffery LLP St Catherine’s Court Berkeley Place Clifton Bristol BS8 1BQ

Bankers Lloyds TSB Bank PLC 64 High Street Epsom Surrey KT19 8AT

CHARITABLE PURPOSE AND ACTIVITIES

Our Vision, Mission and Values

Vision To be a place where children (and grown-ups) flourish through music.

Mission

Our mission is to enable children aged 8-14 to flourish:

e through the power of learning and playing music together e by empowering them creatively and supporting their development and ambition e by prioritising their wellbeing, hearing their voices and responding to what matters to them.

Values

Ambition —for children, our team, our organisation and our sector to realise our individual and collective potential. Happiness — we want to make everyone’s lives measurably happier and healthier because they are part of what we do, and they feel they belong. Creativity — we believe that everyone is creative and support ideas and experiences that develop creativity, a skill which is invaluable and applicable in our day-to-day working and personal lives.

Honesty - we are true to ourselves and others and are rooted in evidence that tells us what we are doing well and what we can improve.

Respect — we actively listen to children, staff and partners and are constantly evolving what we do and how we do it. We respect each other whatever our views or backgrounds and we encourage self-respect.

Our Aims and Objectives

Based on stakeholder consultation, NCO’s new Strategic Plan was approved by the Board in 2023 and covers the subsequent three-year period. Based on ten key priorities, progress towards targets and milestones will be informed by data collection and our evaluation framework and reviewed regularly by the Senior Management Team and Board.

1. | Musical ambition is achieved through excellence in orchestral training Inspiring educators and artists support all children to develop their musicianship and ambition through our distinctive learning framework and well-pitched, diverse programming.

2. Improving Equity Diversity and Inclusion is essential

3. We believe that everyone should have fair opportunities to participate, work or engage with NCO. We are committed to creating a welcoming place where everyone feels they belong. We are making changes to our programme, organisation and communications to ensure that Equity, Diversity and Inclusion are at the centre of our plans and that we constantly learn and improve through review and reflection.

4. Children are listened to, and it makes a difference

Our programme offers opportunities for children to explore their voice, contribute to our activities and inform our plans.

3

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2023

1. Creativity is integral to our programme and is valued We will take every opportunity to support creativity across our programme and encourage children to take artistic risks through musical experimentation.

2. More children participate in, through and beyond NCO Our Projects Programme will continue to grow as will our community, engagement and partnership activities so that we reach more children each year and support progression within NCO and to other opportunities for young musicians.

3. More people attend and participate in our performances We will expand our audiences beyond our participant families and will nurture children and families who are not currently engaged with us through concert day activities, community engagement and partnerships.

4. Partnerships are key to our success We will learn and grow from partnerships with a range of organisations committed to widening access, community engagement, workforce development, research, and health and wellbeing - as muchas we will share our expertise and ambitions.

5. Wearea sector leader We will share our expertise and learning with our industry colleagues and beyond.

9,	Health and happiness for all, includingwider society
	We will explore how music drives health and happiness and will work with expert partners to support the wellbeing of
	everyone who engages with NCO.
10.	Wearea stronger organisation
	We will increase our profile, reach, engagement, diversity and relevance. NCO will constantly strive for increased financial
	sustainability.
Our	ProgrammeFramework

Auditions: NCO selects c. 650 children aged 8-14 via an annual audition process that opens in May, concluding in October. Each successful applicant is offered a place in one of NCO’s two programme strands and all children participate in NCO Online.

NCO Projects Programme: Four symphony orchestras for children aged 8-14 currently based in South London, North London, Birmingham and Bolton. Each orchestra meets twice per year for a non-residential weekend in March and June. NCO’s Projects Programme is designed for children from a wider age range to explore large scale orchestral playing, some of whom are taking part in these activities for the first time.

NCO Online programme: A member website hosts digital resources and live events designed to support musical learning and preparation as well as social inclusion and confidence leading up to each activity.

NCO Horizons Programme: Includes additional community and engagement activities, reaching new participants and delivered in partnership with venues, schools, music hubs and social impact organisations. NCO Horizons Student Placement Insights and Tutor Experience Programmes are both professional development and training opportunities for young people from across the UK in higher education.

Our Learning Framework

NCO’s learning framework is based on four key components:

Mastery and Ambition: NCO engages diverse, inspiring, effective, representative and open-minded music teams to support each child’s musical and creative development and confidence. Children learn from tutors and conductors and each other. NCO’s music programming is well pitched, consisting of ambitious repertoire at all levels of activity.

Creativity: NCO offers a safe space for all children to explore their creativity, experiment musically and take artistic risks. They do this through their musical activities including composition and improvisation, body percussion and spoken word. Creative practice feeds excellence and builds critical thinking; it enables less confident children to shine and brings experimentation and new ideas fizzing to the surface.

4

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2023

Wellbeing: Supporting the emotional and physical wellbeing of the children in NCO is central to everything we do. Children flourish at NCO through the power of learning and playing music together, because we empower them creatively, support their ambition and respond to what they say matters to them.

Child Voice: NCO empowers children to find their voices and share their opinions so that they can begin to shape their identity as a musician and young person in this world and help us share with others what they want from their musical experiences, what they care about outside music, and what world they want to live in. They become informed, empathetic, respectful advocates for the power of music education, orchestras, and for NCO.

Public Benefit

The Trustees have had regard to the Charity Commission's guidance on the Public Benefit requirement under the Charities Act 2011.

NCO fulfils a unique, strategic national role as a distinctive pathway for children with outstanding creative potential at a key time as they transition from primary to secondary school. NCO provides high quality opportunities for children to take part in musical learning outside school. NCO is a significant progression route and connector in music education for children from all backgrounds.

Alongside progression opportunities, NCO creates positive learning, engagement, progression and wellbeing outcomes for children, and the adults who work with the charity. Many children may not otherwise have these opportunities due to socioeconomic barriers to access and inclusion, such as fewer economic and educational privileges and other challenges which could include where they live or their ethnicity.

NCO's work supports the current and future health of the artform of music by supporting young orchestral musicians and practitioners, creating new audiences and advocates for orchestral music, showcasing incredible and varied repertoire and supporting exciting new music commissions.

2023 Key Achievements

The second full year of activity since the pandemic, 2023 was a year full of powerful moments of musical achievement and emotional joy. NCO’s seven symphony orchestras are like no other; big, bold and packed with children who want to explore orchestral playing and love collaborating with young musicians from all corners of the UK — making connections and friendships that often end up lasting a lifetime. NCO’s National orchestras performed 6 public concerts, receiving standing ovations at each and every one and developing a growing audience over the year. It was also the year that NCO became a National Portfolio Organisation and a National Youth Music Organisation through joint funding from Arts Council England and the Department for Education.

During the year

• ° 656 children aged 8-14 from across the UK participated in NCO activity. NCO’s Projects Programme membership grew by 10% compared to the previous year.

• e NCO’s programme structure supports musical progression: 57 children moved from 2022 Projects to 2023 Nationals; 52 children are moving from 2023 Projects to 2024 Nationals

• ° NCO's National orchestras tackled challenging programmes with incredible individual and collective musicianship, including Symphonie Fantastique, Pines of Rome and An American in Paris. They also performed new commissions including 3 South African Songs arranged by Andrew Cottee and explored more new work with the LA Philharmonic’s 2021 commission by Gabriella Ortiz, Kauyumari.

• e 47% of NCO’s 2023 members were from a global majority or mixed heritage background and 18% benefited from NCO’s Financial Support Programme, enabling children from lower income families to take part.

• ° Artistic programme diversity was achieved through 50% female conductors, 80% guest artists from a black/mixed heritage background, performances of works by 7 female composers and 9 composers from a global majority background and 7 new commissions including Rapper Dance by Amit Anand and Ben Lunn as part of NCO’s partnership with ABRSM’s diversity led Composer Mentoring programme (Writingfor Music Education ).

• e There were 17 young presenters at NCO performances, including 9 who spoke about what the environment means to them at Under 13 Orchestra’s ‘There’s No Planet B’ Concert. 71 members signed up to be Creative Ambassadors, producing childled social media content.

• e NCO’s Surround Sound initiative continued to offer creative music making opportunities for all National members. Children told us that creativity gave them the opportunity to discover new skills.

5

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2023

• e NCO Horizons was launched through a First Experience ticket scheme, supporting audience development in Poole, Sheffield, Basingstoke and Woolwich in collaboration with local Music Hubs, Schools and Services. 14 young people participated in NCO Horizons Student Placement Programmes.

• e A new evaluation framework was embedded, measuring the musical and social impact of NCO’s activities for all beneficiaries, their families and the adults we work with. NCO's 2023 Impact Report includes some the findings.

NCO Membership 2023

NCO’s auditions process is designed to be as open as possible so that as many young aspiring musicians from across the UK are enabled to take part. Totally free of charge, application is by simple video recording which can be taken at home ona phone and submitted to NCO. Particular care is taken to ensure that our adjudication and moderation panels are aware of any additional needs and adjustments.

Children auditioning come from state schools, fee-paying schools, special schools, specialist music schools and some are home educated. Many might attend their local Music Hub, or they might be brand new to making music in ensembles and orchestras. Applications are increasing from young musicians involved in partnership and associated grass roots music organisations including Nucleo, Awards for Young Musicians and Future Talent.

In 2023 NCO’s membership consisted of 656 children aged 8-14 years old as core participants: 329 National Orchestral members and 327 Projects Orchestral members. All participants engaged with NCO’s Online Programme.

NCO celebrates the diversity of its membership because it makes its orchestras and organisation better. In 2023, 47% of members represent the global majority and 18% were supported via NCO’s Financial Support Programme that ensures that no child misses out.

National Programme 2023

NCO’s National Programme represents the limitless creative potential that exists among younger aged musicians in the UK today. Through orchestral residencies and public performances, children exceed all musical expectations whilst exploring their creativity and discovering their identity, learning how to support their wellbeing and making lifelong memories and friendships. NCO’s 2023 National Programme consisted of three age-banded orchestras for 329 children in school years 7 (Under 12), 8 (Under 13) and 9 (Main).

The concert was phenomenal; if you shut your eyes you wouldn’t have guessed these musicians were young teens. And with such a difficult programme too! Simply outstanding. - Audience Member, Main Orchestra Summer Concert

NCO’s Surround Sound project brings children in NCO’s National orchestras together in 42 mixed instrument groups (14 per National Orchestra), to improvise, compose and collaborate to create and perform new music that they can be proud of.

• 2023 Surround Sound highlights include: e Main Orchestra explored their concert theme No place like Home, ultimately producing a massed performance of Around the World in 80 Bars supported by Creative Lead, Jonathan James.

• The Under 12 Orchestra created their own Surround Sound Symphony in four movements based on their concert theme of Shimmer, Glimmer Glow with Creative Lead Lucy Drever.

Surround Sound is an incredible way to unleash creativity and make new friends through the bonds of music. | also enjoyed learning about the possible sounds that different instruments can create. - Main Orchestra Member NCO supported child wellbeing at National residentials including physical fitness sessions with Ninja Warrior Henry Cookey, teamwork with Commonwealth Gold Medallist Fencer Claire Bennett, injury prevention and improving posture with physiotherapist Sarah Upjohn and mindfulness and performance coaching with Tom Taffinder. Each Wellbeing Lead spent 2-3 days at all 6 NCO residentials supporting children and NCO's freelance workforce.

Children had multiple opportunities to give feedback about NCO’s programmes including interactive polls during online sectionals and reflective time capsule postcards. NCO’s National members also came together to feedback via Orchestra Councils.

6

Report of the Trustees National Children’s Orchestras of Great Britain For the year ended 31 December 2023

71 members signed up to be Creative Ambassadors, producing child-led social media content for NCO including videos about themselves, their instruments, the music they liked and NCO’s programme. There were 17 young presenters at NCO performances, including 9 who spoke about what the environment means to them at Under 13 Orchestra’s ‘There’s No Planet B’ Concert.

Main Orchestra Residency 1 —8 April 2023 Home is where the heart is Ethy! Smyth The Wreckers Overture George Gershwin Porgy and Bess, “Summertime” and “I got plenty o nothin” George Gershwin An American in Paris 3 South African Songs, arranged by Andrew Cottee e Sibisi - Negate kwenzenjani e Tyamzashe- Isthanwa sam e Makeba - Lakushona Ilanga Ottorino Respighi Pines of Rome Dominic Wheeler conductor

Yolisa Ngwexana soprano and Chuma Sijeqa baritone Lighthouse Poole, 8 April 2023

Under 13 Orchestra Residency 9- 16 April 2023 Music for Movement Aram Khachaturian Gayane Suite

Alexander Borodin Polovtsian Dances Marquez Conga del Fuego Nuevo Leonard Bernstein West Side Story: Somewhere and Mambo Arturo Marquez Danzon no.2 Jose Antonio Prado Que Rico Mambo

Natalia Luis Bassa Conductor

juan Carlos Maggiorani, Orchestral choreographer Lighthouse Poole, 16 April 2023

Under 12 Orchestra Residency 9 —15 April 2023 Let's Dance Antonin Dvorak Slavonic Dance no 8

Doreen Carwithen Suffolk Suite

Samuel Coleridge Taylor Bamboula Percy Grainger Irish tune and Shepherd’s Hay Toru Takemitzu Waltz Leroy Anderson Blue Tango Pyotr Ilyich Tchaikovsky Pas de Deux from the Nutcracker Jose Antonio Prado Que Rico Mambo Rebecca Miller, Conductor NCO Young Presenters Denstone College, Dorset 15 April 2023

Main Orchestra Residency 23-30 July 2023 Dreams ,Myths and Fantasies Paul Dukas Sorcerer’s Apprentice

Bernard Herrmann Prelude and Nightmare from Vertigo Gabrielle Ortiz Kauymari Hector Berlioz Symphonie Fantastique Jonathan Bloxham Conductor NCO Young Presenters Anvil, Basingstoke 30 July 2023

7

Report of the Trustees National Children’s Orchestras of Great Britain For the year ended 31 December 2023

Under 13 Orchestra Residency 6-18 August 2023 There is no Planet B Leonard Bernstein Slava Jean Sibelius Finlandia Rachel Portman Endangered Gustav Holst Jupiter from The Planets Hans Zimmer Earth Benjamin Britten Dawn and Storm from the Four Sea interludes, Peter Grimes Debbie Wiseman Carnival of the Endangered Animals (arranged for NCO) Aram Khachaturian Gayane “Fire” Conductor Andy Morley NCO Young Presenters Sheffield Town Hall 13 August 2023 Under 12 Orchestra Residency 31 July— 6 August 2023 Shimmer, Glitter, Glow William Walton Crown Imperial Grace Williams Penillion Moderato Cantando Samuel Coleridge Taylor Petite Suite: Tarantelle Malcolm Arnold Scottish Dance 3 Maurice Ravel Mother Goose Suite Finale Edvard Grieg Hall of the Mountain King John Williams Harry Potter Symphonic Suite Monty Norman James Bond theme John Barry Goldfinger, Diamonds are Forever John Williams Indiana Jones: Kingdom of the Crystal Skull Helen Harrison Conductor NCO Young Presenters Portsmouth Guildhall, 6 August 2023

Main Orchestra 18/19 November Winter Weekend George Gershwin Porgy and Bess, “Summertime” and “I got plenty o nothin” George Gershwin An American in Paris 3 South African Songs, arranged by Andrew Cottee e Sibisi - Negate kwenzenjani e = Tyamzashe - Isthanwa sam ° Makeba - Lakushona Ilanga Hector Berlioz Symphonie Fantastique Dominic Wheeler conductor Yolisa Ngwexana soprano and Chuma Sijega baritone NCO Young Presenters

This was the final NCO performance of 2023, marking the end of the Main Orchestra’s membership as they move on to new opportunities for 14+ aged musicians. Many of these musicians will have been with NCO for six years including throughout the pandemic.

As our third child leaves NCO, we have been looking back with gratitude over 11 years of involvement with this incredible organisation. Our eldest children, now at university, play regularly alongside friends from their time at NCO. - Parent of an NCO National Member & 2 Alumni

Projects Programme

After the successful pilot of NCO Projects in 2022, NCO’s evaluation helped shape the second year of this programme strand in 2023; building on what worked, learning from what could be improved, and further enriching the experience for the children based on their feedback and that of our freelance workforce.

NCO’s four Projects Programme orchestras each met twice th roughout the year for two creative, non-residential weekends of music making in Birmingham, Bolton and London. Their instrumental skills were supported by our inspiring and experienced conductors, including Natalia Luis-Bassa and Otis Enokido-Lineham, who guided them to connect as an orchestra and experience the joy and achievement of playing together.

Children were also supported by student mentors from Royal Northern College of Music, Trinity Laban, Royal College of Music, Royal Birmingham Conservatoire and Royal Welsh College of Music and Drama.

8

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2023

With a theme for each weekend, Move and Groove and Feel the Pulse, children also played newly commissioned music from young composers identified via our partnership with ABRSM. Rapper Dance, was written especially for NCO Projects children by Amit Anand and Ben Lunn and featured a section of body percussion that lifted the energetic piece to new heights.

Projects members were also joined by an extraordinary group of young guest artists, who they could identify with and by inspired by, including cellist Sheku Kanneh-Mason, violist Jordan Bak, oboist Armand Djikoloum and flautist Helen Wilson. Each weekend culminated in a sharing performance for families and friends, where the children could perform together and celebrate their successes.

In 2023, 327 children participated in this programme. Children told us that NCO is fun and made them feel happy and excited. They felt inspired and ready to learn. Our Day in the Life of Projects film represents the energy, fun and accomplishment of our jam—packed Projects orchestral weekends. A Day in the Life of NCO Projects (youtube.com)

NCO has inspired me, and as my first time in an orchestra, | was very excited and | enjoyed it - NCO Projects Member, aged 8

Spring Projects Orchestras Move and Groove Ryan Linham Waltz for Pencils and Pens Amit Anand and Ben Lunn Rapper Dance Antonin Dvorak Slavonic Dance Opus 46, No. 8 Pyotr Hyich Tchaikowsky Theme from Swan Lake Jacques Offenbach Can Can Sistema Scotland Blame it on the Boogie Otis Enokido-Lineham Conductor, Goldsmiths College, Lewisham 4/5 March 2023 Jonathan Bloxham Conductor, St Helens School, Northwood 4/5 March 2023 Natalia Luis Bassa, Conductor, Five Ways School, Birmingham 11/12 March 2023 Caroline Hobbs Smith, Conductor, Bolton School, Bolton 11/12 March 2023

Summer Projects Orchestras Fee/ the Pulse John Philip Sousa Liberty Bell Nikolai Rimsky-Korsakov Dance of the Tumblers George Frederick Handel Music for the Royal Fireworks] Leroy Anderson Waltzing Cat Sistema Scotland Ritmos Ciganos Caroline Hobbs-Smith, Conductor, Goldsmiths College, Lewisham 10/12 June 2023 Natalia Luis Bassa, Conductor, St Helens School, Northwood 10/11 June 2023 Robert Hodge, Conductor, Ruddock Performing Arts Centre, Birmingham 3/4th June 2023 Veronica Urrego, Conductor, Bolton School, Botton 3/4" June 2023

| just wanted to say thank you for the wonderful weekend of music my son had. We came to see the final performance yesterday and saw him smile and achieve so much in only a couple of days, and that is phenomenal. He spoke really highly about all the tutors, music teachers, conductor and friends he made. - Projects Programme Parent, 2023

Online Programme

NCO’s hugely successful online programme was established during the pandemic and remains an integral part of the annual membership. All 2023 members took part in NCO’s online programme, which helps children prepare musically and feel more confident when they arrive on the first day of activity.

Resources and online events supported musical learning, creativity and wellbeing. There were 154 hours of online activities and hundreds of resources including: 4 hours of inspiring webinars with guests including BBC Young Musician of the Year Finalists; orchestral choreographer Juan Carlos Maggiorani; and singer Chuma Sijeqa, 116 hours of online sectionals and creative challenges. Children told us that their favourite part of the online programme was getting to meet their tutors and fellow musicians before activity. Our feedback also tells us that this additional support helped ensure that all children and their families felt engaged, inspired and welcome at NCO.

NCO’s You Tube channel has hours of fun and inspiring content that is publicly available and was created via our Online Programme. ncogb — YouTube

9

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2023

Horizons Programme

NCO’s new Horizons Programme launched this year and focussing on research and development with further expansion of existing projects and new initiatives launching in 2024. These include a new First Experience ticket scheme, Student Placement Programmes, First Access schools' concerts and community engagement activities on concert days.

NCO Student Horizons NCO is committed to creating pathways into the music education and classical music industries. In 2023, 6 students took part in our tutor mentoring programme, to explore and learn from our unique approach to orchestral training. 8 students mentored NCO musicians as part of our Projects Programme.

In 2023 NCO developed partnerships with conservatoires and universities, signposting students to apply to NCO Student Horizons placement opportunities in mentoring and tutoring from 2024.

NCO First Experiences 2023 Throughout 2023 NCO’s First Experience tickets were offered to children and their families living locally to our national concert venues in Poole, Sheffield, Basingstoke and Woolwich who are members of their Music Hub. It is intended to roll this initiative out across all public concerts in 2024.

Audience and Reach

7 NCO Orchestras performed 15 concerts in Basingstoke, Birmingham, Bolton, London, Poole, Portsmouth and Sheffield. More than 4,000 audience members joined us, including 115 children and families who engage with their local music hub who visited us for their first NCO experience, with free NCO First Experience tickets.

We expanded and deepened our audience engagement through our social media channels. We used more content by children, including our Creative Ambassadors and shared our refreshed organisational strategy through our Music Matters campaign.

Our child-led content during residentials resulted in the best engagement and reach across the year on our Instagram and Facebook platforms. This year we reached over 131,000 people on Facebook, an 8% increase on last year and had a 108% and 6% increase in page visits on Facebook and Instagram respectively. We have 4.5% more Facebook followers, 17% more Instagram followers and 3% more Twitter/X followers. NCO’s YouTube channel has been viewed 56,276 times.

Risk Management

Significant work was undertaken by a risk management working group (comprised of trustees, the Chief Executive and an external consultant) in 2023 to review the risk register, the processes for reviewing the register and how risk and control mitigations are reported to the Board.

The improved organisational risk register is reviewed quarterly by the Senior Leadership Team and is then a standing item at each Board meeting. A specific financial risk register is similarly reviewed quarterly by the Finance Director and is a standing item at each Finance Committee meeting.

A Risk Management Policy was also written in 2023 to collate and clarify the charity’s approach to risk management and the levels of delegated responsibility in relation to risk.

At the close of 2023 these were the four most significant risk areas:

° Child Protection and Safeguarding The Risk Management Policy cemented that the most important risk area for NCO is in relation to Child Protection and Safeguarding. The Board undertakes an annual review of safeguarding policy and practice and two trustees have specific safeguarding responsibility. The Safeguarding Policy details appropriate levels of training provided to those who work with NCO. A Safer Recruitment Policy was also adopted by the Board in 2023. All staff and volunteers at NCO must have a Disclosure and Barring Service (DBS) check. The Head of Safeguarding and Support maintains exceptional safeguarding of children and supports their wellbeing and happiness through dynamic pastoral care.

10

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2023

• ° Health and Safety There is a Health and Safety Policy in place which details control mitigations in this area, including specifying the use of Risk Assessments and processes to be followed to ensure the safety of adults and children during activity and of staff and visitors to the office. The Health and Safety Policy was reviewed in 2023 and the amendments were approved by the Board. A health and safety policy compliance audit was also conducted and shared with NCO’s Health and Safety Lead Trustee.

• e Orchestra Tax Relief Uncertainty about the level of Orchestra Tax Relief continued to be a concern throughout 2023. Financial forecasting and budgeting was completed with this risk area in mind.

• e Economic Factors

Inflation costs continued to be a risk area for 2023. Again, rising costs were anticipated in forward budgets and regular reforecasting exercises were undertaken by budget holders throughout 2023 to closely monitor the real impact of the economic landscape on the agreed budget.

FINANCIAL REVIEW

The Statement of Financial Activities for the year is set out on page 19. Total income comprised £1,445,953 for unrestricted funds, £100,530 for restricted funds. Total expenditure was £1,409,149 in unrestricted expenditure and £108,190 in restricted expenditure. As at 31 December 2023 the reserves of the charity were £702,937 of which £35,556 are restricted.

Income

Total income was up by £223,605 compared to the previous year.

NCO is extremely grateful to all its supporters during 2023. Raised income increased by £159,413. NCO received £225,002 in new statutory funding as a National Portfolio Organisation with joint support from the Arts Council of England and Department for Education. This new income represents 75% of the annual grant amount awarded (£300,000) as funding began partway through NCO’s financial year on 1 April 2023. NCO is deeply thankful for this support and to be in receipt of ACE NPO funding for the next four years. £213,550 was achieved through Trusts and Foundations and a significant donation increased Individual Giving to £49,459.

Earned income also increased by £64,192, achieved through a minimal increase in fee levels for National members and increased box office income. The Charity benefited from £279,052 in Orchestral Tax Relief and £4,361 claim for the year in Gift Aid (following an over-accrual of previous years but now settled during 2023) in the accounting period.

Expenditure

Expenditure increased by £162,018 compared to the previous year. This is due to increasing costs in relation to activity and overheads, the introduction of new permanent staff roles to support fundraising, engagement and inclusion alongside growing and investing in NCO’s freelancers.

Reserves Policy

£257,216 is held in designated funds, to protect the charity should a natural disaster re-occur and to cover expenditure ona rebranding exercise. £339,945 is available as free reserves from total unrestricted funds of £410,165 after excluding tangible fixed assets of £70,220. Having reviewed the charity's reserves policy in April 2022 and in light of the crisis caused by the covid19 pandemic, Trustees identified and agreed that £500,000 should be retained in unrestricted reserves to ensure that the charity is able to continue to deliver essential services for its beneficiaries should a similar event occur again. A two-year view was taken to reflect the fact that the consequences of an event such as a pandemic extend beyond any one financial year. Trustees will actively review this reserves policy on an ongoing basis.

11

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2023

Restricted Reserves

These funds are maintained through annual fundraising activities. NCO receives specific donations and grants from which only specific disbursements may be made. An explanation of each restricted reserve and the purposes for which it may be expended are given in note 20. Apart from the Bursary Fund noted below, there are no specific periods of time during which these funds must be expended. Over the next three years, NCO intends to draw down specific restricted reserves to support the charity’s ongoing mission and objectives.

The charity maintains a Bursary Fund to ensure that financial assistance is available to cover all or part of the costs of membership of any child whose family qualifies in the year of membership. All raised income for the purpose of financial aid is attributed to the Bursary Fund restricted reserve and spent down during the year. The Board considers that a fund should be maintained for this purpose and it is intended to achieve incremental increases in reserves each year over the next five years. The remaining balance is nil.

As shown shown in note 20,

As shown shown in note 20, a number of previously restricted funds have been transferred to unrestricted funds in the year, with the consent of relevant parties.

Raised Income

NCO wishes to thank ail its incredibly generous supporters and funders who helped make the achievements and activities outlined above possible during 2023. Without their support, NCO would not be able to offer outstanding opportunities for children to nurture and develop their musical skills and confidence achieved through the delivery of our programmes.

• NCO seeks to raise income annually from four distinct sources: e Statutory funding from Government schemes such as the Arts Council of England. e Donations from individuals via specific schemes such as NCO Friends, or one-off donations. ° Grants from Trusts, Foundations or other grant-giving bodies. e Funding from corporate organisations in the form of sponsorship.

Funding from any source can be restricted for a specific use, or unrestricted to spend as the charity needs for its core purpose. NCO codes every gift according to any agreement regarding restrictions to ensure it is directed as intended.

NCO’s Development Team comprises of a part-time Director and full-time Manager, supported by a recently appointed Administrator. NCO has an Ethical Fundraising Policy agreed by its Board of Trustees which guides the organisation on best practice according to the Code of Practice issued by the Fundraising Regulator. There were no complaints or queries of any nature for any raised incame in 2023. All development activity adheres to HMRC’s rules on Gift Aid and GDPR guidance and regulation, overseen by NCO’s Board.

2023 was the first financial year in which NCO received revenue funding from the Arts Council of England and Department for Education as a new National Portfolio Organisation and National Youth Music Organisation. This new funding was initially set for a 3-year period but was extended to 4 years, therefore until March 2027.

NCO is greatly appreciative of our ongoing partnership with ABRSM. The partnership provides important funding for NCO and valued co-working in shared areas of interest, including the ABRSM Composer Mentoring programme which focuses a diverse cohort of young composers on writing for music education, including a special piece for NCO Projects children.

NCO’s Projects programme benefitted from support from a range of Trusts and Foundations. We would especially like to thank The Linder Foundation and The Garfield Weston Foundation. The Foyle Foundation and the Cecil King Memorial Foundation also supported NCO’s activity alongside many smaller grant givers.

NCO’s strong foundation of funding support for our Financial Support programme enabled 115 children to take up membership that would otherwise have been unaffordable for them. NCO’s Financial Support programme was made possible through a multiyear grant from The Leverhulme Trust as well as a growing number of smaller Trusts and Foundations, some of which support children from a specific region. NCO is immensely grateful to each of these funders.

12

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2023

NCO’s individual donors, in particular Patrons, Friends, and NCO member families bolstered fundraising by joining schemes or renewing support and donating to our Music Matters appeal (launched towards the end of 2023 and ongoing). A larger one-off individual donation from a member’s family created a positive fiscal impact on our Individual Giving target, alongside increased donations through our new and ongoing ‘Music Matters’ campaign. NCO is extremely grateful to each one of our individual supporters for their funding support and for the encouragement they give each child when attending NCO concerts.

There is expectation that the ongoing challenging landscape for fundraising will continue in 2024. Significant competition for support, driven by rising costs and decreasing funds available, is likely to primarily affect fundraising outcomes from private Trusts and Foundations.

Going concern

The board is mindful that NCO may continue to deploy some financial reserves to meet the challenges of the ongoing economic situation. In particular, this relates to increased costs associated with venues and suppliers driven by the inflationary pressures that continue to affect the UK economy, negatively affecting the charity’s expenditure and income streams.

The board expects this to have an impact on both raised income for 2024 and programme expenditure. This impact is somewhat mitigated by public funding of £300,000 pa from the Arts Council of England/Department for Education, extended to a fourth year to March 2027 and the UK Treasury's decision to set Orchestra Tax Relief at 45% permanently. NCO’s Board and Finance Committee will convene quarterly to review the charity's financial position and strategy. The Arts Council of England will also review any financial risk to the charity as a mandatory requirement of the new NPO funding arrangement.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also directors of National Children's Orchestras of Great Britain for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

• @ select suitable accounting policies and then apply them consistently; e observe the methods and principles in the Charities SORP (FRS 102); e make judgements and estimates that are reasonable and prudent; e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

• In so far as the trustees are aware: e there is no relevant audit information of which the charitable company’s auditor is unaware; and ° the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the reparation and dissemination of financial statements may differ from legislation in other jurisdictions.

13

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2023

AUDITORS

The auditors, Saffery LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by the board of trustees on eA DAZ and signed on its behalf by:

4A ff f iW J Baker - Trustee Y

14

Independent Auditor's Report to the members and trustees of National Children's Orchestras of Great Britain For the year ended 31 December 2023

Opinion

We have audited the financial statements of National Children's Orchestras of Great Britain for the year ended 31 December 2023 which comprise the statement of financial activities, balance sheet, cash flow statement and the related notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

¢ give a true and fair view of the state of the charitable company’s affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and e have been prepared in accordance with the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK}) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information we are required to report that fact.

We have nothing to report in this regard.

15

Independent Auditor's Report to the members and trustees of National Children's Orchestras of Great Britain For the year ended 31 December 2023

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• e the information given in the Trustees’ Annual Report which includes the Directors’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• e _ the Trustees’ Annual Report which includes the Directors’ Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the the Trustees’ Annual Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• e adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• e the financial statements are not in agreement with the accounting records and returns; or ° certain disclosures of trustees’ remuneration specified by law are not made; or

• @ we have not received all the information and explanations we require for our audit jor © the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and to take advantage of the small companies exemption in preparing the Trustees’ Annual Report and the Strategic Report.

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 13, the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

16

independent Auditor's Report to the members and trustees of National Children’s Orchestras of Great Britain For the year ended 31 December 2023

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities: We assessed the susceptibility of the charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charitable company by discussions with trustees and updating our understanding of the sector in which the charitable company operates.

Laws and regulations of direct significance in the context of the charitable company include The Companies Act 2006, and guidance issued by the Charity Commission for England and Wales.

In addition, the charity is subject to other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to its ability to operate or to avoid a material penalty. These include health and safety and safeguarding for children.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www. frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

17

Independent Auditor's Report to the members and trustees of National Children's Orchestras of Great Britain For the year ended 31 December 2023

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the Opinions we have formed. Michael Strong (Senior Statutory Auditor) Date: for and on behalf of Saffery LLP, Statutory Auditor St Catherine's Catherine's Court

Date: St Catherine's Catherine's Court Berkeley Place Clifton Bristol BS8 1BQ

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

18

National Children's Orchestras of Great Britain Statement of financial activities for the year ended 31 December 2023

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |Funds|Funds|2023|2022| |£|£|£|£| |Note| |Income|and|endowments|from:| |Donations|and|legacies|3|409,350|100,530|509,880|350,467| |Charitable|activities|4| |Concerts|38,823|-|38,823|33,136| |Regionals|110,348|-|110,348|100,106| |Membership|fees|592,907|-|592,907|579,750| |Other trading|activities|5|2,918|-|2,918|2,714| |Investments|6|12,555|-|12,555|1,061| |Other|7|279,052|-|279,052|255,644| |Total|1,445,953|100,530|1,546,483|1,322,878| |Expenditure|on:| |Raising funds|8|100,115|-|100,115|82,042| |Charitable|activities|9| |Programmes|(including|online)|1,156,249|-|1,156,249|1,101,828| |Auditions|12,825|-|12,825|11,308| |Concerts|139,260|-|139,260|45,628| |Bursaries and|Scholarships|700|108,190|108,890|114,515| |Total|1,409,149|108,190|1,517,339|1,355,321| |Net|gains/(losses)|on|instruments|15|-|-|-|-| |Net gains/(losses)|on|investments|16|1,353|-|1,353|(1,905)| |Net income/(expenditure)|38,157|(7,660)|30,497|(34,348)| |Transfers|between funds|20|43,070|(43,070)|-|-| |Net movement|in funds|20|81,227|(50,730)|30,497|(34,348)| |Total funds|brought forward|586,154|86,286|672,440|706,788| |Total funds|carried|forward|20|667,381|35,556|702,937|672,440|

----- End of picture text -----

19

National Children's Orchestras of Great Britain Balance Sheet

as at 31 December 2023

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2023|2022| |Unrestricted|Restricted|Total funds|Total funds| |£|£|£|£| |Note| |Fixed|assets| |Tangible|assets|15|70,220|-|70,220|69,335| |Investments|16|15,838|-|15,838|14,485| |86,058|-|86,058|83,820| |Current|assets| |Debtors|17|317,066|-|317,066|312,456| |Cash|at|bank and|in|hand|956,717|35,556|992,273|867,689| |1,273,783|35,556|1,309,339|1,180,145| |withinCreditors:one amountsyear|falling due|18|(692,460)|7|(692,460)|(591,525)| |Net current assets|581,323|35,556|616,879|588,620| |Total|assets|less current|liabilities|667,381|35,556|702,937|672,440| |Net assets|667,381|35,556|702,937|672,440| |Restricted|funds|20|35,556|86,286| |Unrestricted|funds|20|667,381|586,154| |Total|charity funds|702,937|672,440|

----- End of picture text -----

The notes at pages 23 to 35 form part of these accounts

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

Approved by the trustees on 23 /0S/2 & and signed on their behalf by:

----- Start of picture text -----
L'Wlitchell - Trustee
AW,
Baker - Trustee
----- End of picture text -----

20

National Children's Orchestras of Great Britain Cash Flow Statement

for the year ended 31 December 2023

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Notes|2023|2022| |£|£| |Cash|generated from|operating|activities| |Cash generated from|operations|1|113,832|(288,585)| |Net cash|(used|in)/provided|by|operating|activities|113,832|(288,585)| |Cash|flows from|investing|activities| |Purchase|of tangible fixed|assets|(1,803)|(1,632)| |Proceeds|from|disposal|of tangible|fixed|assets|-|-| |Interest|received|12,555|1,061| |Net cash|provided|by/(used|in)|investing|activities|10,752|(571)| |Change|in|cash|and|cash|equivalents|in the|reporting period|2|124,584|(289,156)| |Cash|and|cash|equivalents|at the|beginning|of the|reporting|period|867,689|1,156,845| |Cash|and|cash|equivalents|at the|end|of the|reporting|period|992,273|867,689|

----- End of picture text -----

21

National Children's Orchestras of Great Britain Cash Flow Statement

for the year ended 31 December 2023

Notes to the Cash Flow Statement

1 Reconciliation of net income/(expenditure) to net cash flow from Operating activities

					2023	2022
					£	£
	Net income/(expenditure) forthe reporting period
	(asper thestatementoffinancial activities)				30,497	(34,348)
	Adjustments for:
	Depreciation charges				918	490
	(Gains)/losses on investments				(1,353)	1,905
	Interest received Gain on disposal offixed assets				(12,555) -	(1,061) -
	(Increase)/decrease in debtors (Decrease)/increase in creditors				(4,610) 100,935	(256,222) 651
	Netcash provided by/(used in)operating activities				113,832	(288,585)
2	Analysis ofchanges in netfunds	At1 January	1 January	1 January		At31 December
				2023	Cash flow	2023
			£		£	£
	Net cash
	Cash atbankand in hand			867,689	124,584	992,273
	Total			867,689	124,584	992,273

22

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2023

1 Statutory information

National Children's Orchestras of Great Britain is a charitable company limited by guarantee and domiciled in England and Wales. The Charity is registered in England and Wales, Registered Company number 2471385, Registered Charity number 803026. The registered office and principal office is Unit 2.3, Streamline, 436-441 Paintworks, Arnos Vale, Bristol, BS4 3AS.

The principal activity of the Charity is to foster and develop the early musical talent of children aged between 8 and 14 years from across the UK, providing world-class opportunities for orchestral training and performance.

2 Accounting policies

Basis of preparing the financial statements

The financial statements of the charitable company, 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 1 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, with the exception of investments and musical instruments which are included at market value.

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 and SORP (FRS 102) the financial reporting standards applicable in the UK and Republic of Ireland and Companies Act 2006.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Charity's accounting policies which are described above, trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Depreciation

Assets are written down over their estimated useful lives. The actual lives of the assets may differ from these estimates. The lives of the assets are kept under review and adjusted as appropriate.

Valuation of musical instruments

Musical instruments are carried at an estimation of their market value, based upon external valuations and the judgement of the Trustees.

23

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2023

Allocation of costs between activities As a small charity many costs incurred, including staff time, cover more than one activity. These costs are allocated to activities based on the key cost drivers and best estimates of staff time on each activity.

Going concern

The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable entity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. The Trustees have concluded that there is a reasonable expectation that the charitable entity has adequate resources to continue in Operational existence for the foreseeable future, and there are no material uncertainties. The charitable entity therefore continues to adopt the going concern basis in preparing its financial statements.

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 reliably.

In particular:

Donations are recognised when the amount of the donation is known and the receipt of funds is probable.

Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions are met, the amount can be measured reliably, and in line with the timing implied by any multi-period grant agreements.

Legacies are recognised when the amount is known with reasonable certainty and the receipt of funds is probable. This may be earlier than the date of receipt of funds where appropriate notification has been received from those dealing with the estate.

Membership income is recognised in the accounting year the membership relates to. Any advance payments of membership are deferred to the period to which they relate.

Income from Concerts and Regionals is recognised once the event has taken place. Any advance payments are deferred.

Income from trading activities is recognised upon sale of the associated merchandise.

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 of economic 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 costs 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.

Grants relate to bursaries and scholarships for attending the courses run by the Charity. Where a member of the Orchestra awarded a grant does not attend, the associated grant is cancelled.

Allocation and apportionment of costs

Costs are allocated to the different activities of the charity on an actual basis where possible. Where costs incurred relate to a number of activities these are apportioned on the basis of time spent on those activities.

24

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2023

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Music - 20% on cost Fixtures and fittings - 20% on cost

Fixed assets are stated at cost less accumulated depreciation. Items purchased for less than £200 are not capitalised and are expensed through the Statement of Financial Activities.

Musical instruments

Musical instruments are held at valuation and are not depreciated. These are revalued every five years with movements in the market value being taken to the Statement of Financial Activities in the year of revaluation. Individual instruments valued at less than £200 each are written off.

Taxation

National Children's Orchestras of Great Britain is registered as a Charity with the Charity Commission under number 803026. Because of its charitable status, National Children's Orchestras of Great Britain is exempt from United Kingdom taxation on its surplus income and capital gains.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can 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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Trade and other debtors

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of any impairment.

Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised costs, net of impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other shortterm highly liquid investments with original maturities of three months or less and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

25

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2023

Trade and other creditors

Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Investments

Investments are carried at their market value with movements in the market value being taken to the Statement of Financial Activities in the year.

26

National Children's Orchestras of Great Britain Notes to the financial statements

for the year ended 31 December 2023

3 Donations and legacies

Donations Government grants Tax recovered

----- Start of picture text -----
||| |---|---| |2023|2022| |£|£| |284,009|349,013| |225,002|-| |869|1,454| |509,880|350,467|

----- End of picture text -----

The charity received government grants, defined as funding from Arts Council England and Department for Education to fund charitable activities. The total value of such grants in the period ending 31 December 2023 was £250,002 (2022: £nil). There are no unfulfilled conditions or contingencies attaching to these grants.

4 Income from charitable activities

----- Start of picture text -----
|||||| |---|---|---|---|---| |2023|2022| |£|£| |Concert|income|38,823|33,136| |Regionals|income|110,348|100,106| |Membership fees|592,907|579,750| |742,078|712,992| |Other trading trading|activities| |2023|2022| |£|£| |Other|revenue|2,918|2,714| |2,918|2,714| |Investment|income| |2023|2022| |£|£| |Investment|income|12,555|1,061| |12,555|1,061| |Other income income| |2023|2022| |£|£| |Orchestra|Tax|Relief|279,052|255,644| |279,052|255,644| |Raising funds funds| |2023|2022| |£|£| |Raising donations and|legacies| |Staff costs|88,281|73,259| |Other costs|11,834|8,783|

----- End of picture text -----

• 5 Other trading trading activities

Other revenue

• 6 Investment income

----- Start of picture text -----
7 ~~ Other income income
----- End of picture text -----

• 8 Raising funds funds

—[100,115"][82,042]

27

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2023

9 Charitable activities costs

	Direct costs	Grant funding	Support costs	Totals 2023
		ofactivities	(see note 11)
		(see note 10)
	£	£	£	£
Programmes (including online) Auditions	584,856 12,825	- -	571,393 -	1,156,249 12,825
Concerts	139,260	-	-	139,260
Bursaries and scholarships	781	108,109	-	108,890
	737,722	108,109	571,393	1,417,224
	Direct costs	Grant funding	Support costs	Totals 2022
		of activities	(see note 11)
		(see note 10)
	£	£	£	£
Programmes (including online)	619,680	-	482,148	1,101,828
Auditions	11,308	-	-	11,308
Concerts	45,628	-	-	45,628
Bursariesandscholarships	500	114,015	-	114,515

677,116 114,015 482,148 1,273,279

10 Grants payable

Grants payable
	2023	2022
	£	£
Bursaries and scholarships	108,109	114,015
The total grants paid to individuals during the yearwas as follows:
	2023	2022
	£	£
Grant	108,109	114,015

All grants relate to bursaries provided to individuals as a subsidy towards their membership fees and travel costs.

11 Support costs

----- Start of picture text -----
Management Governance Totals 2023
£ £ £
Programmes (including online) 547,758 23,635 571,393
547,758 23,635 571,393
Management Governance Totals 2022
£ £ £
Programmes (including online) 465,793 16,355 482,148
465.793 16,355 482.148
----- End of picture text -----

28

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2023

12 Net income/(expenditure)

Net income/(expenditure) is stated after charging:

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2023|2022| |£|£| |Auditor’|remuneration|11,340|9,810| |Auditors'|remuneration|for|non|audit|work|3,060|2,760| |Depreciation|- owned|assets|918|490|

----- End of picture text -----

13 Trustees' remuneration and benefits

There were no trustees’ remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022, except as disclosed in Note 23

Trustees’ expenses

Trustees' expenses in respect of attendance at board meetings during the period totalled fnil (2022: £52.50).

14 = Staff costs

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2023|2022| |£|£| |Wages|and|salaries|436,362|341,453| |Social|security|costs|36,371|29,262| |Pension|costs|10,785|9,118| |483,518|379,833| |The|average|monthly|number|of employees|during the|year was|as|follows:| |2023|2022| |£|£| |15|12|

----- End of picture text -----

There were no employees whose employee benefits (excluding employer pension costs) exceeded £60,000 for the current or previous year

The Orchestras employed 180 freelancers during the year (2022: 179), who workeda total of 925 days (2022: 925 days).

The social staff provide pastoral support for the members of[the][Orchestras,][whilst][ tutors][help][with][the][musical][elements.] These staff are paid on a per session basis.

29

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2023

15 Tangible fixed assets

Tangible fixedfixed assets
	Music		Instruments	Fixtures and	Totals
				fittings
		£	£	£	£
Cost/Value
At 1January2023 Additions Disposals	21,720 - -		67,525 . -	73,650 1,803 -	162,895 1,803 -
At31December2023	21,720		67,525	75,453	164,698
Depreciation
At 1January2023 Charge fortheyear	21,519 180		- -	72,041 738	93,560 918
Eliminated on disposals	-		-	-	-
At31December2023	21,699		-	72,779	94,478
Net Book Value
At31December 2023	21		67.525	2.674	70,220
At31December 2022	201		67.525	1,609	69,335
External valuations were obtained forthe musical instruments in 2021,		thattotalled £67,525. It		isthe opinion ofthe	the Trustees
thatthere has been nomaterial movementtothevalueofthe instruments the 31 December2023 yearend.			sincetheexternalvaluationswereobtained, up to
‘Fixed asset investments
					Listed
					investments
					£
Marketvalue
At1January2023 Revaluations					14,485 1,353
At31December2023					15,838
Net book value
At31December2023					15,838
At31December2022					14,485
There were no investment assets outside the UK.
Debtors:amountsfallingduewithinoneyear				2023	2022
				£	£
Tradedebtors Prepayments Taxrecoverable				5,330 28,323 283,413	5,880 23,735 282,841
				317,066	312,456

• 16 ‘Fixed asset investments

17 Debtors: amounts falling due within one year

30

National Children's Orchestras of Great Britain Notes to the financial statements

for the year ended 31 December 2023

18 Creditors: amounts falling due within one year

Creditors: amounts falling duefalling duedue within one yearyear	2023	2022
	£	£
Trade creditors	13,594	18,161
Social securityand othertaxes	11,586	8,530
Deferred income	644,130	542,570
Accruals	23,150	22,264
	692,460	591,525

Further information on deferred income is provided in note 24.

19 Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

			2023	2022
			£	£
Within one year			11,185	9,846
Between one and five years			-	-
			11,185	9,846
Lease payments recognised as an expense intheyearamounted to£42,615		(2022: £41,048).
Movement in Funds
	At1/1/23.	Netmovement	Transfers	At 31/12/23
		in funds	between funds
	£	£	£	£
Unrestricted funds
General fund	376,154	38,157	(4,146)	410,165
Unrestricted -designatedfunds
Rebranding Reserve	-	-	47,216	47,216
Risk Reserve	210,000	-	-	210,000
	586,154	38,157	43,070	667,381
Restricted funds
Bursary fund	-	(7,660)	7,660	-
Scholarshipfund E Rorison winteraward	1,792 4,031	- -	(1,792) (200)	- 3,831
Accessand progression	17,470	-	:	17,470
FGuthrie	1,522	-	(1,522)	-
Vivienne Price memorial fund	14,255	-	>	14,255
1978 association	47,216	-	(47,216)	-
	86,286	(7,660)	(43,070)	35,556
Totalfunds	672,440	30,497	-	702,937

• 20 Movement in Funds

31

National Children's Orchestras of Great Britain Notes to the financial statements

for the year ended 31 December 2023

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |Net|movement|in|funds,|included|in|the|above|are|as follows:| |incoming|Resources|Gains|andlosses|Movement|in| |resources|expended|funds| |£|£|£|£| |Unrestricted|funds| |General fund|1,445,953|(1,409,149)|1,353|38,157| |Unrestricted|- designatedfunds| |Rebranding|Reserve|-|-|-|-| |Risk|Reserve|-|-|-|-| |1,445,953|(1,409, 149)|1,353|38,157| |Restricted|funds| |Bursary fund|100,530|(108,190)|-|(7,660)| |Scholarship fund|-|-|-|-| |E|Rorison|winter award|-|-|-|-| |Access|and|progression|-|-|-|-| |F|Guthrie|-|-|-|-| |Vivienne|Price|memorial|fund|-|-|:|-| |1978|association|-|-|-|-| |100,530|(108,190)|-|(7,660)| |Total funds|1,546,483|(1,517,339)|1,353|30,497| |Comparatives|for movement|in|funds| |At|1/1/22.|Net movement|Transfers|At 31/12/22| |in funds|between|funds| |£|£|£|£| |Unrestricted|funds| |General fund|369,137|6,817|200|376,154| |IT replacement|fund|-|-|-|-| |Office|move|-|-|-|-| |Risk reserve|210,000|-|-|210,000| |ge|pre| |2224579,137|ST6,817|00200|S586,154586,154| |Restricted|funds| |Bursary fund|36,743|(41,165)|4,422|-| |Scholarship fund|1,792|-|-|1,792| |E|Rorison|winter award|4,231|-|(200)|4,031| |Access and|progression|17,470|-|-|17,470| |F Guthrie|1,522|-|-|1,522| |Vivienne|Price memorial fund|18,677|-|(4,422)|14,255| |1978|association|47,216|-|-|47,216| |127,651|(41,165)|(200)|86,286| |Total funds|706,788|(34,348)|-|672,440|

----- End of picture text -----

32

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2023

Comparative net movement of funds included in the above are as follows:

Comparative net movement of funds includedmovement of funds includedof funds includedfunds includedincluded in the above are as follows:the above are as follows:above are as follows:are as follows:as follows:follows:	Comparative net movement of funds includedmovement of funds includedof funds includedfunds includedincluded in the above are as follows:the above are as follows:above are as follows:are as follows:as follows:follows:
Incoming Resources Gainsandlosses Movement in resources expended funds £ £ £ £
Unrestricted funds
General fund 1,250,028 (1,241,306) (1,905) 6,817 Unr stricted -designatedfunds ITreplacement fund
- - - Office move	-
- - - Risk reserve	-
- - -
	-
DeeS 1,250,028 (1,241,306) (1,905) 6,817
Restrictedfunds
Bursary fund
72,850 (114,015) - Scholarshipfund zs n : E Rorison winteraward	(41,165) .
- - - Access and progression	-
- - - F Guthrie	-
- - - Vivienne Price memorial fund	-
- - - 1978 association	-
- - -
	:
eeSS
72,850 (114,015) - Total funds	(41,165)
1,322,878 (2,355,321) {1,905) SS IS)	(34,348) __(34,348)
Designated funds:
Rebrandingreserve
Thisfund isdesignatedforthePurposeofupdating theCharitiesbranding,includingourwebsite.
Risk Reservefund
Thisfund isdesignatedforriskconsidered force majeureoranynatural disaster. Ithasbeen calculated usinganestimate of irretrievable costs inthese circumstances. Atwo-yearviewwastaken to reflectthefactthattheconsequences ofan event such as apandemic extend beyond anyone financial year. Trustees will activelyreview this reserves Policyon anongoing basis,
Restricted funds:
Bursaryfund This fund is maintained through annual fundraising activities. NCO receives specific donations from which only bursary Paymentsmaybe made. Distributions are madeannuallytosupportthemembershipofchildrenfromlowerincome families whomightotherwise notbeable totakeuptheirplaces.Aswellas contributions toallorpartoforchestramembershipfees, financialassistance isalsoavailabletowardsthecostsoftravellingtocourses,overnightaccommodationfor familieswhohave long distances to travel, subsidised concert tickets andNCO regional orchestra rehearsal fees.Awards are made against a sliding scale on the basis ofannual household income. Applications are scrutinised, and awards made, byan internal NCO panel.TheNCOBoardregularlyreviewsbursaryexpenditureandscalestoensurethatNCOisofferingasmuchhelpas fundraising allows.

Scholarship fund TheConductor.Scholarship This hasfund beenis toutilisedbe usedin fullforin thescholarships current year.to be granted at the discretion of the Artistic Director and Principal E Rorison winter award

Elizabeth Rorison, a former trustee of NCO, bequeathed £5,000 towards an annual winter concert award,

Access and progression This fund represents money received to support the engagement activities. F Guthrie ThisMrs hasFaith been Guthrie,utiliseda formerin full NCOin the Trustee, current generously supports year. certain NCO projects and provides bursaries from time to time.

33

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2023

Vivienne Price memorial fund This fund has been established through donations made to NCO in memory of Vivienne Price MBE, NCO's Founding Patron, and the proceeds of a ‘Grade-One-athon’ fundraising activity undertaken by NCO tutors, Trustees and staff during 2015. The proceeds will be distributed over time at the discretion of the Artistic Director and Principal Conductor towards: scholarships for children who might not otherwise be able to take up their places, an annual prize to a member of Under 13 Orchestra, and the purchase of musical equipment for the general benefit of current and future members of NCO orchestras.

This1978 fund Associationrepresents money donated by Mr John and Mrs Faith Guthrie to support the establishment of a legacy fund for the charity. As agreed with the donors, this has been transferred to a designated funds in full in the current year.

TransfersThe transfers between between funds funds represents the contribution from restricted funds towards core activities of the charity and the purchase of fixed assets, as agreed by the donor, for use in core activities.

----- Start of picture text -----
|||||| |---|---|---|---|---| |Analysis of net assets between funds|Unrestricted|Designated|Restricted funds|Total| |Year to 31 March 2023|£|£|£|£| |Tangible fixed assets|70,220|70,220| |Fixed investments|15,838|15,838| |Net current assets|324,107|257,216|35,556|616,879| |Total funds|410,165|257,216|35,556|702,937| |Unrestricted|Designated|Restricted funds|Total| |Year to 31 March 2023|£|£|£|£| |Tangible fixed assets|69,335|69,335| |Fixed investments|14,485|14,485| |Net current assets|292,334|210,000|86,286|588,620| |Total funds|376,154|210,000|86,286|672,440|

----- End of picture text -----

21 Employee benefit obligations Pension contributions amounting to £10,785 (2022: £9,118) were recognised as an expense in the SoFA in respect of the Charity’s defined contribution pension scheme. These costs are charged in full to unrestricted funds. 22 Contingent liabilities The client has an obligation under their rental lease to make good the property at the end of the lease. No provision has been made for this liability as the cost cannot be reliably quantified. 23 Related party disclosures

During the year a number of the trustees made donations to the Charity, these were made without condition.

During the year 2 trustees, L Stott and B Weir, were paid a total of £7,007 (2022: £6,641) for services as tutors. The son of R Benneyworth, a Trustee, was paid a total of £2,029 for services as support staff. The fees paid were in line with those paid to other tutors and staff providing similar services to the Charity.

34

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2023

,

24 ~~ ~Deferred income

Accruals and deferred income includes the following items of income which have been deferred as at 31 December 2023:

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2023|2022| |Membership|£|£| |deferred|at|1 January 2023| |Released|[to]|[income]|[in][ the year]|531,065|468,492| |Grant|[funding]|[received]|[in][ advance]|(531,065)|(468,492)| |Membership deferred at 31|December 2023|-|11,505| |644,130|531,065| |644,130|542,570| |Membership|SSSSS=—==— i|—_—| |advance|relates|to the calendar year,|places are awarded at the end of|the Previous year and fees are often received in| |followingof year theis startdeferred, of that year.|In accordance with the accounting policy, membership income received|in relation to the| |25|Post balance sheet events|

----- End of picture text -----

The Trustees have no Post balance sheet events to report.

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |26|Comparatives for the statement of financial|activities| |Unrestricted|Restricted funds|Total funds| |funds| |Income|and|Endowments from|£|£|£| |Donations|and|legacies| |Charitable|activities|277,617|72,850|350,467| |Concerts| |Regionals|33,136|-|33,136| |Membership|[fees]|100,106|-|100,106| |Other trading|activities|579,750|-|579,750| |Investment|[income]|2,714|-|2,714| |Other|[income]|1,061|-|1,061| |255,644|-|255,644| |Total|a| |Expenditure|on|1,250,028|72,850|1,322,878| |Raising funds| |Charitable|activities|82,042|-|82,042| |Residencies| |Auditions|1,101,328|1,101,828| |Concerts|11,308|-|11,308| |Bursaries and scholarships|45,628500|114,015-|114,51545,628| |Total|I eee| |Net|1,241,306|114,015|1,355,321| |Net|sains/(losses) on investments|(1,905)|-|(1,905)| |Income/(Expenditure)|6,817|(41,165)|(34,348)| |Transfers|between funds| |Net movement|in funds|200|(200)|:| |Total|funds brought forward|7,017|(41,365)|(34,348)| |579,137|127,651|706,788| |Total|[funds][ carried][ forward]|a|———| |SSS586,154|EE.86,286|672,440672,440|

----- End of picture text -----

35