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← National Children's Orchestras Of Great Britain

2024-12-31-accounts

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 2024

National Children's Orchestras of Great Britain For the year ended 31 December 2024 Contents

Page
Report of the Trustees 1
Independent Auditor's Report 16
Statement of Financial Activities 20
Balance Sheet 21
Cash Flow Statement 22
Notes to the Cash Flow Statement 23
Notes to the Financial Statements 24

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

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 2024. 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).

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) Janet Baker (Honorary Treasurer) (resigned 31 July 2024) Rosie Benneyworth (Lead Health and Safety Trustee) (resigned 25 September 2024) Stuart Burns (appointed 12 December 2024) George Caird Miranda Francis (Lead Safeguarding Trustee) (resigned 31 July 2024) Fiona Harvey (resigned 31 July 2024) Beth Higham-Edwards (reappointed 23 May 2024) Kadiatu Kanneh-Mason (reappointed 23 May 2024) Lucy Maguire (reappointed 23 May 2024) Jonathan Mayes (Vice Chair, Lead Environmental Trustee) (reappointed 23 Mar 2024) Alison Mears Esswood (appointed 12 December 2024) Uchenna Ngwe William Norris (reappointed 23 May 2024) Laetitia Stott Roger Tomlinson (appointed 12 December 2024) Brian Weir (Lead Safeguarding Trustee) (resigned 31 July 2024) Christine Wu (reappointed 23 May 2024)

Finance Committee Members

Janet Baker (Hon. Treasurer) (resigned 31 July 2024) Rosie Benneyworth (resigned 25 September 2024) Stuart Burns (appointed 12 December 2024) Fiona Harvey (resigned 31 July 2024) Jonathan Mayes (reappointed 23 May William Norris (reappointed 23 May 2024) Christine Wu (reappointed 23 May 2024)

Founder

Vivienne Price MBE

Executive Leadership

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

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

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:

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

2. Improving Equity Diversity and Inclusion is essential

3. 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.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

4. Creativity is integral to our programme and is valued

5. 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.

6. 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.

7. 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 much as we will share our expertise and ambitions.

8. We are a sector leader

We will share our expertise and learning with our industry colleagues and beyond.

9. Health and happiness for all, including wider 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. We are a stronger organisation We will increase our profile, reach, engagement, diversity and relevance. NCO will constantly strive for increased financial sustainability.

Our Programme Framework

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 National Programme: Three age-banded symphony orchestras (Under 12 Orchestra – Year 7, Under 13 Orchestra – Year 8 and Main Orchestra – Year 9). Each orchestra meets twice per year (Spring and Summer) for a 7/8 day residency and final performance. NCO’s Main Orchestra also performs a farewell concert in November in London.

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:

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.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

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.

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.

2024 Key Achievements

2024 was a year of growth in applicants, participants, audiences, activities and reach. NCO launched a new series of initiatives designed to extend its impact and influence across, and in partnership with, music education. This is just the beginning; it is intended as a signal of the charity’s determination to support access and progression for children who may not otherwise take part.

Child Voice is fundamental to NCO’s ethos. 2024 saw significant expansion in this area of work through the Young Presenters and Creative Ambassadors programmes. Children and families also informed NCO’s new brand framework with input from staff, activity teams, NCO’s board and supporters. Expertly led by Morris Hargreaves McIntyre, NCO’s new brand and website will launch in May 2025. Critically, this year saw a major focus on Equity, Diversity and Inclusion, with all NCO’s stakeholders engaged in workshops and consultation to inform an EDI Action Plan in partnership with EDI consultancy SLS360.

More information about the year in review can be found in NCO’s 2024 Impact Report: Impact Report | The National Children's Orchestras of Great Britain

During the year

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

NCO Membership 2024

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 on a phone and submitted to NCO. 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 have increased by 40% since 2023 from young musicians involved in partnership and associated grass roots music organisations including Nucleo, Young Sounds and Future Talent. Auditions numbers during 2024 for 2025 membership grew by 10% to 1050.

In 2024 NCO’s membership consisted of 662 children aged 8-14 years old as core participants: 315 National Orchestral members and 347 Projects Orchestral members. All participants engaged with NCO’s Online Programme.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

National Programme 2024

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).

We were utterly blown away by the quality of the musicianship displayed. I found it very emotional! The sheer joy of the children was delightful and shone through their performance.

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.

Expert creative leads – Jonathan James, Delia Stevens, John Barber, Ed Babar and Sarah Freestone – supported tutors to facilitate child-led creative music making through training and mentoring during each residential. Creativity is scored 4.1 out 5 by the children who enjoyed opportunities to create new music and interpret pieces in new ways.

NCO supported child wellbeing at National residentials including physical fitness sessions with Ninja Warrior Henry Cookey, teamwork with Commonwealth Fencer Claire Bennett, injury prevention and improving posture with physiotherapist Sarah Upjohn, mindfulness and performance coaching with Tom Taffinder and the ergonomics of string playing with Sophie Till. Each Wellbeing Lead spent 2-3 days at all 6 NCO residentials supporting children and adults.

The last three years of NCO have been, quite frankly, the best times of his life. He has grown up, developed musically, gained an increased sense of responsibility and made friendships that are way beyond special, ones that I’m confident will last forever. All through being in NCO. Parent of National Member

Children had multiple opportunities to give feedback about NCO’s programmes including interactive polls during online sectionals and via Orchestra Councils. In addition, NCO Changemakers was introduced, enabling detailed and cumulative feedback from 34 children who represent the breadth of NCO’s membership and programmes.

222 Nationals 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 40 young presenters at NCO performances, including 8 who spoke about what the environment means to them at Under 13 Orchestra’s ‘There’s No Planet B’ Concert.

A Day in the Life of the National programme

- Main Orchestra Residency 7 14 April

Benjamin Britten Young Person’s Guide to the Orchestra Kristina Arakelyan You’ve got a Friend in Me (new commission) Teresa Carreno (arr. Rachel Wick) Mi Teresita John Williams Nimbus 2000 Paul Dukas Fanfare La Peri Ed Argenziano Stinkin’ Garbage

Jose Antonio Prado Que Rico Mambo Modest Mussorgsky Pictures at an Exhibition Andrew Morley conductor Bristol Beacon, 14 April 2024

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

– Under 13 Orchestra Residency 30 March 6 April 2024 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 Lighthouse Poole, 6 April 2024

Under 12 Orchestra Residency 31 March – 6 April 2024 Let's Dance

Antonin Dvorak Slavonic Dance no 8 Claude Debussy ‘Ballet’ from Petite Suite Doreen Carwithen Suffolk Suite Samuel Coleridge Taylor Bamboula Roland Barrett Arabian Dances 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 Port Regis School, Dorset 6 April 2024

Under 13 Orchestra Residency 27 July – 3 August 2024 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” Arturo Marquez Congo del Fuego Nuevo Matthew Quinn Conductor Bristol Beacon, 3 August 2024

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

Main Orchestra 9/10 November 2024 Winter Weekend

Modest Mussorgsky Pictures at an Exhibition Dimitri Shostakovich Symphony No. 5 Andrew Morley conductor Woolwich Works, London

This was the final NCO performance of 2024, marking the end of the Main Orchestra’s membership as they move on to new opportunities for 14+ aged musicians.

Being part of NCO has been like finding my people, my community – the place where I truly belong. I feel so privileged and honoured to have had the opportunity to be part of it all

Projects Programme

NCO’s four Projects Programme orchestras each met twice throughout 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 Helen Harrison and Veronica Urrego, who guided them to connect as an orchestra and experience the joy and achievement of playing together.

Project orchestras across the country loved the Guess Who? themed programmes, where every piece of music described a character - from James Bond to Sleeping Beauty, from Edward Elgar’s Fairies and Giants to Georges Bizet’s Toreadors. They also discovered new commissions and arrangements including the ABRSM Composer Mentor Scheme Commission Las Mariposos by José Guillermo Puello, as well as Train Driver’s Day, a new body percussion piece by Ryan Linham and new arrangements of Mary Poppins, Duke Ellington’s Sophisticated Lady and Alan Menken’s ‘A Friend like Me’ from Aladdin.

Projects orchestras also welcomed amazing guest artists Aaron Akugbo, Jonny Abrahams, Jess Gillam and Nikolaj Henriques. Our Projects North Orchestra summer concert featured children from Bolton Music Service playing side-by-side for a special performance of Mary Poppins.

In 2024, 347 children participated in this programme with 256 signed up as Creative Ambassadors and 48 Young Presenters. Children reported that NCO is fun and welcoming and the sectionals are helpful. The Day in the Life of Projects film represents the energy, fun and accomplishment of NCO’s jam-packed Projects orchestral weekends. A Day in the Life of NCO Projects (youtube.com)

Summer Projects Orchestras Guess Who?

Richard Sherman and Robert Sherman arr. Ryan Linham Mary Poppins Overture Monty Norman arr. Bob Cerulli James Bond

Duke Ellington arr. Ryan Linham Sophisticated Lady

Georges Bizet ‘Habanera’ and ‘Toreador’ from Carmen Suite No. 2 Alan Menken arr. Ryan Linham ‘A Friend Like Me’ from Aladdin Pyotr Ilyich Tchaikovsky ‘Waltz’ from Sleeping Beauty

Natalia Luis-Bassa, Conductor, Goldsmiths College, Lewisham 15/16 June 2024 Rob Hodge, Conductor, St Helens School, Northwood 15/16 June 2024 Caroline Hobbs Smith, Conductor, Handsworth Girls School, Birmingham 8/9 June 2024 Greg Beardsell, Conductor, Bolton School, Bolton 8/9 June 2024

NCO’s THE place to be! You make a lot of friends, music and more! My other favourite thing about NCO is that the conductors are very funny and kind.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

Online Programme

NCO’s hugely successful online programme was established during the pandemic and remains an integral part of the annual membership.

All NCO 2024 Projects and National members took part in the Online Programme, which helps children prepare musically and feel more confident when they join in-person orchestral activities. Resources and online events also supported musical learning, creativity and wellbeing.

There were: 5 hours of inspiring webinars featuring BBC Young Musician of the Year Finalists; environmentalist and musician Adrian Bending; stars of sport and wellbeing Claire Bennett & Henry Cookey; and artists Aaron Akugbo, Nikolaj Henriques & Jonny Abraham.

The final webinar featured a panel of NCO Parents and Carers, as well as Kadiatu Kanneh Mason, and gave advice for parents on supporting brilliant young musicians.

14 orchestra meet-ups took place featuring ‘getting to know each other’ games, quizzes, musical learning and more. Children fed back that their favourite parts of the online programmes were taking part in games and quizzes and meeting other people.

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

Horizons Programme

NCO’s new Horizons Programme launched in 2023, focussing on research and development with further expansion of existing projects and new initiatives that launched in 2024.

NCO connected children aged 4-16 with free, open access musical and orchestral opportunities, including: a first access school concert, progression pathway workshops in partnership with music hubs, side-by-side performances with NCO orchestras, student placements and free first experience tickets to public concerts.

37 children took part in our collaboration with Bristol Beacon Music Hub , exploring Benjamin Britten’s Young Person’s Guide to the Orchestra with NCO music tutors, before performing side-by-side with the Main Orchestra as part of a big Family Concert at Bristol Beacon. NCO Horizons: Family Concert at Bristol Beacon

It’s been such an amazing opportunity for my daughter to be part of this event, it’s given her a greater appreciation of orchestral music and performance and really inspired her as a musician. Parent/Carer on Bristol Beacon Music Hub side-by-side Project

420 children engaged with an interactive school concer t at The Redeemer Primary School in Blackburn, taking part in musical games and quizzes to support children’s understanding of the ingredients needed for music making. The school’s choir also enjoyed a performance with NCO tutors of The Bare Necessities!

26 musicians from Bolton Music Service’s Junior Orchestra expanded their learning of a Mary Poppins Medley with NCO music tutors, before performing side-by-side with the Projects North Orchestra at their orchestral weekend. They also enjoyed their very own private Q&A session with guest saxophonist Jess Gillam.

National members were filmed rehearsing as part of a new partnership collaboration with Bristol Beacon and Cathedral Schools Trust and Oak National Academy , who together are writing an innovative primary music curriculum for thousands of children across England.

Furthermore, NCO’s Horizons placements gave impactful opportunities for students, creating pathways into music education and classical music.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

14 students took part in NCO’s Tutor Experience Placements at National residentials. They shadowed NCO tutors to gain experience in rehearsal planning, coaching styles, engagement and wellbeing, group dynamics and behaviour and creative composition.

24 students took part in NCO’s Insights Placements , playing in our Projects orchestras to provide support and role-modelling, leading some sectionals and assisting with child engagement, and managing dynamics.

Students came from numerous conservatoires and universities including Royal College of Music, Royal Academy of Music, Royal Northern College of Music, Royal Welsh College of Music and Drama, Guildhall School of Music and Drama, Royal Birmingham Conservatoire and Trinity Laban Conservatoire of Music and Drama.

This placement was brilliant because you become part of the NCO team, you get to learn on your feet and develop your skills right there in the orchestra.

Audience and Reach

7 NCO Orchestras performed 15 concerts, in Bristol, Poole, Portsmouth, Birmingham, Bolton and London. More than 4600 audience members attended, including 60 children and families who engage with their local music education hub who visited for their first NCO experience, with free NCO First Tickets.

At Bristol Beacon, families of young children brand new to NCO and even orchestral music enjoyed the Family Concert programme. In 2024 as part of NCO Horizons, the charity also began to open up rehearsals, with a group from Wessex Multi Academy Trust visiting one of the summer residentials.

NCO’s child-centred and child-led social media content exposed the life, joy and friendship in all NCO’s activities. The most engaging piece of content was a reel created at the Main Orchestra summer residential, achieving 6,769 views, engaging 177 accounts and receiving 167 likes.

NCO has 16.8% more Facebook followers and 25.1% more followers on Instagram, than last year. NCO’s YouTube channel was viewed 51,344 this year, with 2700 hours of NCO footage watched.

Future Plans

NCO will continue to run its Nationals, Projects, Online and Horizons Programmes, investing in the team and programme planning to ensure efficient and professional delivery of activities. Key developments will include:

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

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 2024 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 charity’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

NCO has a remuneration policy and a set of clear pay bands for staff which is reviewed annually by the board. Trustees reviewed executive pay in 2024 and approved an updated policy.

Alongside policy review, the Board reviews salaries on recommendation from the Chief Executive and Finance Committee in relation to % increases to be implemented from 1 January each year. The amount of any increase will be guided by CPI inflation, informal benchmarking with other arts organisations and Real Living Wage guidelines. NCO is a Real Living Wage employer.

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.

There is a Code of Conduct specifically for Trustees. 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 was used to inform a recruitment process for new Trustees in 2024 following the retirement of several Trustees. This resulted in 3 new appointments in December 2024 with 2 further appointments to be approved at the 2025 AGM. To support this period of transition for both the Board and Finance Committee, Jonathan Mayes (Vice Chair) and William Norris (Trustee) were re-elected for a further year and will retire in July 2025.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

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 2024 these were the four most significant risk areas:

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.

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 2024 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.

Uncertainty about the level of Orchestra Tax Relief was partly mitigated through HMT’s decision in 2024 to set the level of relief at 45% permanently. This does not however guarantee this income source in the future. Financial forecasting and budgeting were completed with this risk area in mind.

Inflation costs continued to be a risk area for 2024. Again, rising costs were anticipated in forward budgets and regular reforecasting exercises were undertaken by budget holders throughout 2024 to closely monitor the real impact of the economic landscape on the agreed budget. Furthermore, recent changes in relation to VAT on school fees risk NCO being charged VAT on school hire invoices. Forward budgets include contingency and a VAT review will be commissioned in 2025 to confirm NCO’s VAT position.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

FINANCIAL REVIEW

The Statement of Financial Activities for the year is set out on page 20. Total income comprised £1,918,113 for unrestricted funds (2023: £1,445,953), £82,700 for restricted funds (2023: £100,530). Total expenditure was £1,471,289 in unrestricted expenditure (2023: £1,409,149) and £98,775 in restricted expenditure (2023: £108,190). As at 31 December 2024 the reserves of the charity were £1,133,686 (2023: £702,937) of which £446,680 are designated (2023: £257,216) and £19,481 are restricted (2023: £35,556).

Income

Total income was up by £454,330 compared to the previous year.

NCO is extremely grateful to all its supporters during 2024. Raised income increased by £326,178. NCO received £300,000 in new statutory funding as a National Portfolio Organisation with joint support from the Arts Council of England and Department for Education. £129,014 was achieved through Trusts and Foundations, £41,800 in Individual Giving, and £23,000 in corporate sponsorship. NCO received an extraordinary gift of £337,308 in this year.

Earned income also increased by £128,152, achieved through a minimal increase in fee levels for National members and increased box office income. The Charity benefited from £366,524 in Orchestral Tax Relief and £4,934 claim for the year in Gift Aid in the accounting period.

Expenditure

Expenditure increased by £52,725 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

Unrestricted Reserves

Having reviewed the charity’s reserves policy in March 2025, Trustees identified and agreed that £600,000 should be retained in unrestricted reserves in line with increased turnover to ensure that the charity is able to continue to deliver essential services for its beneficiaries. Future planning is fundamental to the charity’s operation, combining the seasonal nature of annual activities with the necessity of planning programmes more than one year ahead. The reserves policy reflects the need to provide a degree of security to support advance planning over longer timescales, and to provide confidence to stakeholders that plans are soundly based and funded.

£600,000 is available as free reserves from total unrestricted funds of £667,525 after excluding tangible assets of £67,525.

A further £446,680 is held in designated funds. £210,000 is set aside to cover the cost of cancellation should a pandemic or similar event take place in the future. In 2025, £53,000 will be spent to cover the remaining cost of rebranding and the development of a new website. £183,680 will be spent down over a period of 3 to 5 years to match fund specific activities that are designed to increase access for young musicians to take part in NCO.

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Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

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 Section 20 below. Over the next three years, NCO intends to draw down specific restricted reserves to support the charity’s ongoing mission and objectives.

Raised Income

NCO wishes to thank all its incredibly generous supporters and funders who helped make the achievements and activities outlined above possible during 2024. 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:

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 an 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 income in 2024. All development activity adheres to HMRC’s rules on Gift Aid and GDPR guidance and regulation, overseen by NCO’s Board.

2024 was the second 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, with a 4th year (2027/2028) pending confirmation of extension funding in May 2025.

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 particularly like to extend our thanks to the Cecil King Memorial Foundation, as well as the Kirby Laing Foundation for their continued support of NCO’s Projects programme since seed-funding the pilot in 2022.

NCO’s strong foundation of funding support for our Financial Support programme enabled 76 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.

NCO’s individual donors, in particular Patrons, Friends, and NCO member families bolstered fundraising by joining schemes, renewing support and making one-off gifts. 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.

NCO received an extraordinary gift this year through a deeply generous legacy donation from the late Joyce Fretwell, a dedicated supporter of NCO and music education. This remarkable contribution will strengthen our reserves, support our rebrand and new website, and establish a designated fund for organisational development. Most importantly, it ensures that her legacy will help more children experience the transformative power of NCO in the years to come. There is an expectation that the ongoing challenging landscape for fundraising will continue in 2025. Significant competition for support, driven by rising costs and decreasing funds available, is likely to primarily affect fundraising outcomes from Trusts and Foundations.

[14]

Report of the Trustees National Children's Orchestras of Great Britain For the year ended 31 December 2024

Going concern

The board is mindful that NCO may continue to deploy some financial reserves to meet the challenges of the ongoing economic situation. 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 2025 and programme expenditure.

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:

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:

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.

AUDITORS

The auditors, Saffery LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by the board of trustees on……………………………………………..and signed on its behalf by:Thursday 19 June 2025

~~……………………………………………………………………….~~

L Mitchell - Trustee

[15]

Independent Auditor's Report to the members and trustees of National Children's Orchestras of Great Britain For the year ended 31 December 2024

Opinion

We have audited the financial statements of National Children's Orchestras of Great Britain for the year ended 31 December 2024 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:

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.

16

Independent Auditor's Report to the members and trustees of National Children's Orchestras of Great Britain For the year ended 31 December 2024

Opinions on other matters prescribed by the Companies Act 2006

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

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:

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 15, 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.

17

Independent Auditor's Report to the members and trustees of National Children's Orchestras of Great Britain For the year ended 31 December 2024

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.

18

Independent Auditor's Report to the members and trustees of National Children's Orchestras of Great Britain For the year ended 31 December 2024

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) for and on behalf of Saffery LLP, Statutory Auditor

Date: 20 June 2025 St 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

19

National Children's Orchestras of Great Britain Statement of financial activities for the year ended 31 December 2024

Note
Income and endowments from:
Donations and legacies
3
Charitable activities
4
Concerts
Projects
Membership fees
Other trading activities
5
Investments
6
Other
7
Total
Expenditure on:
Raising funds
8
Charitable activities
9
Auditions
Concerts
Bursaries and Scholarships
Total
Net gains/(losses) on instruments
15
Net gains/(losses) on investments
16
Net income/(expenditure)
Transfers between funds
20
Net movement in funds
20
Total funds carried forward
20
Total funds brought forward
Programmes (including online)		 Unrestricted
Funds
£
753,358
42,921
120,148
602,584
2,682
29,896
366,524
1,918,113
102,256
1,212,521
14,509
141,502
501
1,471,289
-
-
446,824
-
446,824
667,381
1,114,205		 Restricted
Funds
£
82,700
-
-
-
-
-
-
82,700
-
-
9,931
-
88,844
98,775
-
-
(16,075)
-
(16,075)
35,556
19,481		 Total
2024
£
836,058
42,921
120,148
602,584
2,682
29,896
366,524
2,000,813
102,256
1,212,521
24,440
141,502
89,345
1,570,064
-
-
430,749
-
430,749
702,937
1,133,686		 Total
2023
£
509,880
38,823
110,348
592,907
2,918
12,555
279,052
1,546,483
100,115
1,156,249
12,825
139,260
108,890
1,517,339
-
1,353
30,497
-
30,497
672,440
702,937

20

National Children's Orchestras of Great Britain Balance Sheet as at 31 December 2024

2024 2023
Unrestricted Restricted Total funds Total funds
£ £ £ £
Note
Fixed assets
Tangible assets 15 69,448 - 69,448 70,220
Investments 16 - - - 15,838
69,448 - 69,448 86,058
Current assets
Debtors 17 418,863 - 418,863 317,066
Cash at bank and in hand 1,340,065 19,481 1,359,546 992,273
1,758,928 19,481 1,778,409 1,309,339
Creditors: amounts falling due
within one year		 18 (714,171) - (714,171) (692,460)
Net current assets 1,044,757 19,481 1,064,238 616,879
Total assets less current liabilities 1,114,205 19,481 1,133,686 702,937
Net assets 1,114,205 19,481 1,133,686 702,937
Restricted funds 20 19,481 35,556
Unrestricted funds 20 1,114,205 667,381
Total charity funds 1,133,686 702,937

The notes at pages 24 to 36 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 and signed on their behalf by:19 June 2025

……………………………………………………

L Mitchell - Trustee

21

National Children's Orchestras of Great Britain Cash Flow Statement for the year ended 31 December 2024

Notes
Cash generated from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed assets
Proceeds from disposal of investments
Interest received
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the reporting period
2
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period		 2024
2023
£
£
321,539
113,832
321,539
113,832
-
(1,803)
-
-
15,838
29,896
12,555
45,734
10,752
367,273
124,584
992,273
867,689
1,359,546
992,273

22

National Children's Orchestras of Great Britain Cash Flow Statement for the year ended 31 December 2024

Notes to the Cash Flow Statement

1 Reconciliation of net income/(expenditure) to net cash flow from operating activities net cash flow from operating activities net cash flow from operating activities
2024 2023
£ £
Net income/(expenditure) for the reporting period
(as per the statement of financial activities) 430,749 30,497
Adjustments for:
Depreciation charges 772 918
(Gains)/losses on investments - (1,353)
Interest received (29,896) (12,555)
Gain on disposal of fixed assets - -
(Increase)/decrease in debtors (101,797) (4,610)
(Decrease)/increase in creditors 21,711 100,935
Net cash provided by/(used in) operating activities 321,539 113,832
2 Analysis of changes in net funds
At		 1 January At 31 December
2024 Cash flow 2024
£ £ £
Net cash
Cash at bank and in hand 992,273 367,273 1,359,546
Total 992,273 367,273 1,359,546

23

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2024

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.

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.

(24

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2024

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 Projects 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.

(25

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2024

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.

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 2024

3 Donations and legacies

Donations
Legacy income
Government grants
Tax recovered		 2024
£
193,814
337,308
300,002
4,934		 2023
£
284,009
-
225,002
869
836,058 509,880

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 year ended 31 December 2024 was £300,002 (2023: £250,002). There are no unfulfilled conditions or contingencies attaching to these grants.

4 Income from charitable activities

Concert income
Projects income
Membership fees
Other trading activities
Other revenue
Investment income
Investment income
Other income
Orchestra Tax Relief
Raising funds
Raising donations and legacies
Staff costs
Other costs		 2024
£
42,921
120,148
602,584		 2023
£
38,823
110,348
592,907
765,653 742,078
2024
£
2,682		 2023
£
2,918
2,682 2,918
2024
£
29,896		 2023
£
12,555
29,896 12,555
2024
£
366,524		 2023
£
279,052
366,524 279,052
2024
£
91,501
10,755		 2023
£
88,281
11,834
102,256 100,115

5 Other trading activities

6 Investment income

7 Other income

8 Raising funds

(27)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2024

9 Charitable activities costs

Current year
Programmes (including online)
Auditions
Concerts
Bursaries and scholarships
Prior year
Programmes (including online)
Auditions
Concerts
Bursaries and scholarships		 Direct costs
£
619,370
24,440
141,502
701
786,013
Direct costs
£
584,856
12,825
139,260
781
737,722		 Grant funding
of activities
(see note 10)
£
-
-
-
88,644		 Support costs
(see note 11)
£
593,151
-
-
-		 Totals 2024
£
1,212,521
24,440
141,502
89,345
88,644 593,151 1,467,808
Grant funding
of activities
(see note 10)
£
-
-
-
108,109		 Support costs
(see note 11)
£
571,393
-
-
-		 Totals 2023
£
1,156,249
12,825
139,260
108,890
108,109 571,393 1,417,224

10 Grants payable

Bursaries and scholarships
The total grants paid to individuals during the year was as follows:
Grant		 2024
£
88,644		 2023
£
108,109
2024
£
88,644		 2023
£
108,109

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

11 Support costs

Programmes (including online) Programmes (including online)

Management
£
542,726		 Governance
£
50,425		 Totals 2024
£
593,151
542,726 50,425 593,151
Management
£
547,758		 Governance
£
23,635		 Totals 2023
£
571,393
547,758 23,635 571,393

(28)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2024

12 Net income/(expenditure)

Net income/(expenditure) is stated after charging:

Net income/(expenditure) is stated after charging:
2024 2023
£ £
Auditor' remuneration 11,640 11,340
Auditors' remuneration for non audit work 3,180 3,060
Depreciation - owned assets 772 918

13 Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023, except as disclosed in Note 23.

Trustees' expenses

Trustees' expenses in respect of attendance at board meetings during the year totalled £186 (2023: £nil).

14 Staff costs

Wages and salaries
Social security costs
Pension costs
The average monthly number of employees during the year was as follows:		 2024
£
417,361
34,482
8,877		 2023
£
436,362
36,371
10,785
460,720 483,518
2024
15		 2023
15

The average monthly number of employees during the year was as follows:

There was one employee whose total employee benefits (excluding employer pension costs) were between £60,000 - £70,000

The Orchestras employed 183 freelancers during the year (2023: 180), who worked a total of 1,863 days (2023: 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 2024

15
Tangible fixed assets
Cost
At 1 January 2024
Additions
Disposals
At 31 December 2024
Depreciation & impairment
At 1 January 2024
Charge for the year
Eliminated on disposals
At 31 December 2024
Net Book Value
At 31 December 2024
At 31 December 2023		 Music
£
21,720
-
-		 Instruments
£
169,850
-
-		 Fixtures and
fittings
£
75,453
-
-		 Totals
£
267,023
-
-
21,720 169,850 75,453 267,023
21,699
21
-		 102,325
-
-		 72,779
751
-		 196,803
772
-
21,720 102,325 73,530 197,575
- 67,525 1,923 69,448
21 67,525 2,674 70,220

External valuations were obtained for the musical instruments in 2021, that totalled £67,525. It is the opinion of the Trustees that there has been no material movement to the value of the instruments since the external valuations were obtained, up to the 31 December 2024 year end.

16 Fixed asset investments

Market value
At 1 January 2024
Revaluations
Disposals
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
17
Debtors: amounts falling due within one year
Trade debtors
Prepayments
Tax recoverable
There were no investment assets outside the UK.		 2024
£
4,797
38,247
375,819		 Listed
investments
£
15,838
(15,838)
-
-
15,838
2023
£
5,330
28,323
283,413
418,863 317,066

(30)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2024

18
Creditors: amounts falling due within one year
Trade creditors
Social security and other taxes
Deferred income
Accruals		 2024
£
3,190
1,854
677,822
31,305		 2023
£
13,594
11,586
644,130
23,150
714,171 692,460

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:

Within one year
Between one and five years		 2024
£
11,185
-		 2023
£
11,185
-
11,185 11,185

Lease payments recognised as an expense in the year amounted to £45,636 (2023: £42,615).

20 Movement in Funds

Unrestricted funds
General fund
Unrestricted - designated funds
Rebranding Reserve
Risk Reserve
Organisational development
Restricted funds
Bursary fund
E Rorison winter award
Access and progression
Vivienne Price memorial fund
Total funds		 At 1/1/24
£
410,165
47,216
210,000
-		 Net movement
in funds
£
467,704
(20,880)
-
-		 Transfers
between funds
£
(210,344)
26,664
-
183,680		 At 31/12/24
£
667,525
53,000
210,000
183,680
667,381 446,824 - 1,114,205
-
3,831
17,470
14,255		 (5,944)
(200)
(9,931)
-		 5,944
-
-
(5,944)		 -
3,631
7,539
8,311
35,556 (16,075) - 19,481
702,937 430,749 - 1,133,686

(31)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2024

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Unrestricted - designated funds
Rebranding Reserve
Risk Reserve
Organisational Development
Restricted funds
Bursary fund
E Rorison winter award
Access and progression
Vivienne Price memorial fund
Total funds
Comparatives for movement in funds
Unrestricted funds
General fund
Unrestricted - designated funds
Rebranding Reserve
Risk reserve
Restricted funds
Bursary fund
Scholarship fund
E Rorison winter award
Access and progression
F Guthrie
Vivienne Price memorial fund
1978 association
Total funds		 Incoming
resources
£
1,918,113
-
-
-		 Resources
expended
£
(1,450,409)
(20,880)
-
-		 Gains and losses
£
-
-
-
-		 Movement in
funds
£
467,704
(20,880)
-
-
1,918,113 (1,471,289) - 446,824
82,700
-
-
-		 (88,644)
(200)
(9,931)
-		 -
-
-
-		 (5,944)
(200)
(9,931)
-
82,700 (98,775) - (16,075)
2,000,813 (1,570,064) - 430,749
At 1/1/23
£
376,154
-
210,000		 Net movement
in funds
£
38,157
-
-		 Transfers
between funds
£
(4,146)
47,216
-		 At 31/12/23
£
410,165
47,216
210,000
586,154 38,157 43,070 667,381
-
1,792
4,031
17,470
1,522
14,255
47,216		 (7,660)
-
-
-
-
-
-		 7,660
(1,792)
(200)
-
(1,522)
-
(47,216)		 -
-
3,831
17,470
-
14,255
-
86,286 (7,660) (43,070) 35,556
672,440 30,497 - 702,937

(32)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2024

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

Unrestricted funds
General fund
Unrestricted - designated funds
Rebranding Reserve
Risk reserve
Restricted funds
Bursary fund
Scholarship fund
E Rorison winter award
Access and progression
F Guthrie
Vivienne Price memorial fund
1978 association
Total funds		 Incoming
resources
£
1,445,953
-
-		 Resources
expended
£
(1,409,149)
-
-		 Gains and losses
£
1,353
-
-		 Movement in
funds
£
38,157
-
-
1,445,953 (1,409,149) 1,353 38,157
100,530
-
-
-
-
-
-		 (108,190)
-
-
-
-
-
-		 -
-
-
-
-
-
-		 (7,660)
-
-
-
-
-
-
100,530 (108,190) - (7,660)
1,546,483 (1,517,339) 1,353 30,497

Unrestricted reserves

Having reviewed the charity’s reserves policy in March 2025, Trustees identified and agreed that £600,000 should be retained in unrestricted reserves to ensure that the charity is able to continue to deliver essential services for its beneficiaries. Future planning is fundamental to the charity’s operation, combining the seasonal nature of annual activities with the necessity of planning programmes more than one year ahead. The reserves policy reflects the need to provide a degree of security to support advance planning over longer timescales, and to provide confidence to stakeholders that plans are soundly based and funded.

£600,000 is available as free reserves from total unrestricted funds of £667,525 after excluding tangible assets of £69,448.

A further £446,680 is held in designated funds to protect the charity should a natural disaster occur, eg pandemic, by covering the costs of cancellation (£210,000), to fund the remaining expenditure in relation to rebranding and the development of a new website (£53,000) and to support future organisational development through new activities (£183,680).

Designated funds:

Rebranding reserve

This fund is designated for the purpose of updating the Charities branding, including our website.

Risk Reserve fund

This fund is designated for risk considered force majeure or any natural disaster. It has been calculated using an estimate of irretrievable costs in these circumstances. 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.

Restricted funds:

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 below. Over the next three years, NCO intends to draw down specific restricted reserves to support the charity’s ongoing mission and objectives.

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National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2024

Bursary fund

This fund is maintained through annual fundraising activities. NCO receives specific donations from which only bursary payments may be made. Distributions are made annually to support the membership of children from lower income families who might otherwise not be able to take up their places. As well as contributions to all or part of orchestra membership fees, financial assistance is also available towards the costs of travelling to courses, overnight accommodation for families who have long distances to travel, subsidised concert tickets and NCO regional orchestra rehearsal fees. Awards are made against a sliding scale on the basis of annual household income. Applications are scrutinised, and awards made, by an internal NCO panel. The NCO Board regularly reviews bursary expenditure and scales to ensure that NCO is offering as much help as fundraising allows.

Scholarship fund

The Scholarship fund is to be used for scholarships to be granted at the discretion of the Artistic Director and Principal Conductor. This has been utilised in full in the current year.

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

Mrs Faith Guthrie, a former NCO Trustee, generously supports certain NCO projects and provides bursaries from time to time. This has been utilised in full in the current year.

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.

1978 Association

This fund represents 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.

Transfers between funds

The transfers between 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.

Analysis of net assets between funds

Year to 31 December 2024
Tangible fixed assets
Net current assets
Total funds
Year to 31 December 2023
Tangible fixed assets
Fixed investments
Net current assets
Total funds		 Unrestricted
£
69,448
598,077
667,525		 Designated
£
-
446,680
446,680		 Restricted funds
£
-
19,481
19,481		 Total
£
69,448
1,064,238
1,133,686
Unrestricted
£
70,220
15,838
324,107
410,165		 Designated
£
-
-
257,216
257,216		 Restricted funds
£
-
-
35,556
35,556		 Total
£
70,220
15,838
616,879
702,937

(34)

National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2024

21 Employee benefit obligations

Pension contributions amounting to £8,877 (2023: £10,785) 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 £3,846 (2023: £7,007) for services as tutors (B Weir resigned as a Trustee on 31 July 2024). The son of R Benneyworth, a Trustee until her resignation on 25 September 2024, was paid a total of £2,418 (2023: £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.

24 Deferred income

Accruals and deferred income includes the following items of income which have been deferred as at 31 December 2024:

Membership deferred at 1 January 2024
Released to income in the year
Membership deferred at 31 December 2024		 2024
£
644,130
(644,130)
677,822		 2023
£
531,065
(531,065)
644,130
677,822 644,130

Membership relates to the calendar year, places are awarded at the end of the previous year and fees are often received in advance of the start of that year. In accordance with the accounting policy, membership income received in relation to the following year is deferred.

25 Post balance sheet events

The Trustees have no post balance sheet events to report.

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National Children's Orchestras of Great Britain Notes to the financial statements for the year ended 31 December 2024

26 Comparatives for the statement of financial activities

Income and Endowments from
Donations and legacies
Charitable activities
Concerts
Projects
Membership fees
Other trading activities
Investment income
Other income
Total
Expenditure on
Raising funds
Charitable activities
Residencies
Auditions
Concerts
Bursaries and scholarships
Total
Net gains/(losses) on investments
Net Income/(Expenditure)
Transfers between funds
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
409,350
38,823
110,348
592,907
2,918
12,555
279,052		 Restricted funds
£
100,530
-
-
-
-
-
-		 Total funds
£
509,880
38,823
110,348
592,907
2,918
12,555
279,052
1,445,953 100,530 1,546,483
100,115
1,156,249
12,825
139,260
700		 -
-
-
-
108,190		 100,115
1,156,249
12,825
139,260
108,890
1,409,149 108,190 1,517,339
1,353
38,157
43,070		 -
(7,660)
(43,070)		 1,353
30,497
-
81,227
586,154		 (50,730)
86,286		 30,497
672,440
667,381 35,556 702,937

(36)