OFFICIAL- Publlc. This Informatloll has been clead for unrestricted distribution.. THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA Reglstered Charity No. 803751 ACCOUNTS FOR THE YEAR ENDED 30JUNE 2024 . OFFICIAL- Public
OFFICIAL- Public. This Information has been cleared for unrestrlcted distrlbutson.. THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITY NO: 803751 TRUSTEES, REPORT The Charity is registered as The Society of the Guildford Symphony Orchestra and its reglstration number 15 803751, Objectives, Adminlstration and Management of the Charlty The objects of the Charity are to promote, develop and maintain public education and appreciation of the art of muslc In all its aspects by the presentation of public concerts and recitals, and by any other such ways as the soclety through its committee shall determine from time to time. The general control and mana8ement of the society Is In the hands of a committee of Trustees conslstlng of a chalr, vlce chalr, secretary, treasurer, and not more than seven other members. The Trustees are elected at the Annual General Meeting. There are a number of supporting committee members with specific roles but these members do not have votin8 rights. Publlc 8eneflt The trustees have paid due regard to the guidancelssued by the Charlty Commlssloners on publlc beneflt In declding what activities the society shall undertake as detailed in the review of the year, particularly the guidance relatin8 to the advancement of the arts. Scope of Report and Accounts This report and the annexed accounts relate to the operations of thls charlty only; a separate report and accounts are prepared by the Frlends of the Gulldford Symphony Orchestra. Governlng Document The Charlty operates under the scheme approved by the Charity Commissioners on 3 August 1990. Names of Trustees Tlmothy Johnson (Chair) Jane Kumar Ivlce Chairl Felicity Howgate (Secretary) Abi8ail Fairhurst (Treasurer) Katherine Atkinson Princlpal Address 24 Hillcrest Gardens, Esher, Surrey KTIO OBS Agents and Advisers Bankers- HSBC, 33 The Borough, Farnham, Surrrey, GU9 7NJ Tax accountants - Scott-moncrieff, Exchange Place 3, Semple Street, Edinbur8h, EH3 8BL Independent Examiner- A P Garrood ACA, 23 George Road, Guildford, Surrey, GUI 4NP . OFFICIAL- Publlc
OFFICIAL- Public. This Infoimatlon has been cleared foi unrestricted distribution. THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITY NO: 803751 TRUSTEES. REPORT (continued) How the Charity Operates An Annual General Meeting must be held each year and a speclal meetlng may be called at any time by the Commlttee or one third of the members, on not less than twenty-one days, notice being given to the Trustees of the matters to be discussed. The Annual General Meeting is held just before the end of each calendar year. At this meeting all aspects of the Charity's operations are reviewed, the accounts approved, Trustees and Offlcers appolnted and other relevant matter5 considered. Any policy matters needing decisions, or whlch are raised by the Trustees, are discussed. Revlew of the Year 2023/24 was the Guildford Symphony Orchestra IGSO'S) first full season of 5 concerts followin8 the Covld pandemic. Our season of concerts opened with a Family Concert at the Guildford Spectrum - thls annual concert Is part of our misslon to introduce a new generation to the wonders of music. Our November concert at GLlve featured as Its centre piece Rachmaninov's iconic 2nd Symphony, timed to mark the 150th anniversary of the composer's birth. The concert also featured Tchalkovsky's ever popular flrst plano concerto, performed by Chrlstos Fountos. The annual showcase of up and comlng musical talent took place at St Catherine's School in February 2024. Our Classiques de Paris themed spring concert at Charterhouse featured Cesar Frank's 2nd Symphony and our conductor's own compsltlon Reflectlons sur I'amour. The season finalse at GLlve featured a programme of works by Richard Strauss, including hls Don Juan overture and Four Last Songs, and a second half of ever popular waltzes by Johann Strauss. We were encouraged by the healthy audiences attendlng our season as a whole, wlth total audlence at just under 2000 over the season, whlch is broadly slmilar to our long term trend. We were especially encouraged by the number of under 18s who attend our concerts. Tickets are available for this age group for free as we encourage young people to develop their interest in music. We remain extremely grateful to our audience for continuing to SUPPOrt Ilve classic muslc performed by people from Guildford to people from Guildford. vve d150 weiLvITieu SUITie Iiew Pldyer5 iu Iiie o)v uuriiig Irie 5eiisvfii Pdriiy iriruugri Irie ueiier v151r)Iiiiy we have secured for our activitles through joining Making Music, the charity whose purpose Is to help leisure time music flourish. It's so heartening that maklng live music remains such an important part of many of our lives, and that GSO continues to perform attractive programmes performed to a high standard and is therefore able to bring in new members. OFFICIAL- Public
OFFICIAL- Public. Thls informatlon has been cleared for unrestricted distributlon. THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITY NO: 803751 TRUSTEES, REPORT {continued) Finally, some thank yous. Flrst, all members of the GSO are dedicated to attending rehearals and concerts to demonstrate their love of performing music, and are the bedrock of the orchestra's on 80ing activities. Our Music Director Darrell Davison continues to provide ourstanding musical inspiration, leadership and behind the scenes. Finally, I'd like to thank my fellow Trustees, Officers and Committee members, all of whom work tirelessly to keep the orchestra running and musically and financlally successful. Flnanclal Report Overall, compared to the prevlous year, we achleved a healthy flnancial performance. Income decreased due to reduced tlcket revenue, and with costs broadly comparable, our net loss before Investment activities was £12,281), an adverse movement from the gain of £2,279 in the prevlous year. After taklng account Investment galns, the Smpact on our funds was sll8htly positive. Our total reserves at a healthy £58,580. Whlle these reserves are still substantial, we need to continue to work to Increase our Income and mana8e our costs In future years. Rlsk Management The Trustees have reviewed the major risks to whlch the Society Is exposed and systems have been establlshed to mitigate these risks. The charity's pollcy is to hold Sufficient reserves to fund the administratlon of the charlty over at least the next slx to twelve months, In addltlon, the COIF Investment Fund Is held to provlde the charlty wlth further reserves as and when they may be needed. Finallyi we are confident that we can rely on additlonal s pport from funds held by the Friends of the Orchestra if it oh Chair 50n . Il IQLS .OFFICIAL- Publlc
THE SOCIEfY OF THE GUILDFORD SYMPHONY ORCHESTRA ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITY NO.. 803751 INDEPENDENf EXAMINER'S REPORT TO THE TRUSTEES OF THE soaETY OF THE GUILDFORD SYMPHONY ORCHESTRA I report to the trustees on my examlnatlon of the accounts of the above charity I the Trust ) forthe year ended 30 June 2024. As the charlty's trustees, you are are responsible for the preparatlon of the accounts In accordance wlth the requlrements of the Charltles Act 20111"the Art"}. I report In respect of my examlnatlon of the Trusvs accounts carrled out under sectlon 145 of the 2011 Act and In carrylng out my examlnatlon, I have followed all the appllcable Dlrectlons glven by the Charlty Commlsslon under sectlon 145{5)Ib) of the Act. Independent Examlner's St4tem•nt I have completed my examlnatlon. I conflrm that no materlal matters have come to my attentlon In connectlon wlth the examlnatlon whlch glves me cause to belleve that In, any materlal respect: the accountlng records were not kept In accordance wlth sectlon 130 of the Charltles Act,. or the accounts dld not accord wlth the accountln6 record5; or the accounts dld not comply wlth the appllcable requlrements concernlng the form and content of accounts set out In the Charltles (Accounts and Reports) Re8ulatlons 2008 otherthan any requlrement that the accounts 8lve a 'true and falrf vlew whlchls not a matter consldered as part of an Independent examlnatlon. I have no concern5 and have come across no other matters In connectlon wlth the examlnatlon to whlch attentlon should be drawn In thls report In order to enable a proper understandlng of the accounts to be reached. ••//• Ig/f/20Z< A P Garrood ACA 23 George Road Gulldford Surrey GUI 4NP
OFFICIAL- Public. This infom)atlon has been cleared for unrestricted dist¥ibutlon. THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITY NO: 803751 STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted funds Jellinek fund General fund Note Soclal fund Total 2024 Total 2023 Incomlng resources Income from: Donations Charltable activities Other tradin8 activities Investments Other Total 10,431 29,358 10,431 29,358 2,196 169 13,223 19,524 1,969 20 2,196 169 39,958 2,196 42,154 34,736 Resources expended Expendlture on: Raising funds Charltable actlvltles Other Total Net (expendlture)/lncome before Investment Ilosses)18alns Net (lossesl/galns on Investments Net {expendlture)/lncome Transfers between funds Net movement In funds 205 205 41,846 2,213 44,264 240 29,272 2,945 32,457 41,846 2,213 44,059 205 14,101) 1,991 {2,110} 3,412 1,302 2,279 1,641 3,920 3,412 3,412 14,1011 1,991 14, 1011 1,991 3,412 1,302 3,920 Reconclllatlon of funds: Total funds brought forward Total fund5 carrled fonmard 22,626 18,525 9,521 11,512 24,111 27,523 56,258 57,560 52,338 56,258 OFFICIAL- Public
OFFICIAL- Public. Thls informatlon has been tleared for unrestricted distributlon. THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITY NO: 803751 BALANCE SHEEr Unrestricted funds 2024 2023 Note Current assets Debtors Short term investments Cash at bank and in hand Total current assets 233 37,653 11,014 48,900 12,622 34,241 18,539 65,402 Creditors: amounts fallin8 due wlthin one year 3,389 9,144 Net assets 45,511 56,258 Funds of the charltv Unrestricted funds Total funds 57,560 57,560 56,258 56,258 Slgned by the Chalr on behalf of all the Trustees: ohnson OFFICIAL- Public
OFFICIAL- Publit. This informatton has been cleared for unrestricted distributlon.. THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITY NO: 803751 NOTES TO THE ACCOUNTS Note I: Accountlng Policles Basis of Ac¢ountlng These accounts have been prepared under the historical cost convention with items recognised at cost or transactlon value unless otherwise stated in the relevant note{s} to these accounts and with the Statement of Recommended Practice: Accounting and Reportin8 by Charities preparing their accounts In accordance with the Flnancial Reportin8 Standard applicable in the UK and Republlc of Ireland (FRS 102) Issued on 16 Julv 2014. Income All incoming resources are Included in the Statement of Flnanclal Activities when the charlty is legally entitled to the income and the amount can be quantified with reasonable certainty. Fund Accountlng Unrestrlcted funds can be used in accordance wlth the charity's charitable objectives at the discretlon of the Trustees. The Jellinek Fund was created as the result of a specific bequest to the Society, but no restrlctions were placed on the purpose5 for which it can be used. It Is therefore shown separately, as an unrestricted fund. Restricted funds can only be used for partlcular restrlcted purposes wlthln the objects of the charlty. Restrlctions arise when specifled by the donor or when funds are ralsed for speclfled restrlcted purposes. The Society does not have any restricted funds. Taxatlon The charity is exempt from corporatlon tax on Its charitable activities. However, the Society files annual Corporation Tax returns In order to take advantage of Orchestra Tax Relief. OFFICIAL- Public
OFFICIAL- Public. This information has bèen cleared for unrestricted distribution.. THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITY NO: 803751 NOTES TO THE ACCOUNTS Note 2: Income 2024 2023 Donatlons Members, subscriptions Tax recovered on subscriptions Grants and donatlons 8,580 1,351 500 10,431 8,658 1,540 3,025 13,223 Charltable actlvltles Revenue from concerts Ticket selllng costs Sale of programmes and programme advertlsing Concert income Orchestra tax relief cla Imed 22,857 12,6701 16,600 19121 20,187 9,171 29,358 15,688 3,836 19,524 Other tradlng actlvltles Social events 100 Club Other income Easy fundralslng 1,886 310 1,174 480 315 2,196 1,969 Investment Income Bank and building society interest 169 20 OFFICIAL- Publlc
OFFICIAL- Public. This information has been cleared for uniestricted distribution.. THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITY NO: 803751 NOTES TO THE ACCOUNTS Note 3: Expendlture 2024 2023 Ralslng funds Subscriptions and donations Social activities 100 Club prizes 205 205 240 240 Charltable actlvltles Orchestra fees and expenses Soloist's fees Conductors, fees and expenses- concerts Hire of concert halls Hire of muslc- concerts Performing rights Hire of instruments and equipment Advertisln8 and printin8 Sundry Costs directly related to concerts 10,200 3,400 2,620 13,262 1,249 71 6,967 1,000 1,800 9,273 1,550 71 3,214 480 34,496 1,605 206 22,472 Conductors, fees and expenses- rehearsals Hire of rehearsal hall Hlre of muslc- rehearsals Other costs 4,200 3,150 4,490 2,310 7,350 6,800 Total 41,846 29,272 Other Independent examlner's remuneratlon Postage and stationery Insurance IT costs Professlonal fees relatlng to Orchestra Tax Relief clalm Sundry expenses 250 290 84 255 664 1,440 212 2,945 354 1,440 169 2,213 OFFICIAL- Public
OFFICIAL- Publit. This Information has been clearèd for nStriCted dlstribution.. THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITY NO: 803751 NOTES TO THE ACCOUNTS Note 4: Details of certaln Items of expenditure Trustee remuneratlon, expenses and related party transactions No trustees were pald remuneration or expenses in either of the years ended 30 June 2024 or 2023. There were no related party transactions with any trustee in either of the years ended 30 June 2024 or 2023. Fees for examlnatlon of the accounts 2024 2023 Independent examlner's fee for reportlng on the accounts 250 290 Note 5: Investment assets Current asset Investments 2024 2023 Carryin8 {marketl value at beginnlng of year Add: addltlons to 5nvestments at cost Less: dlsposals at carryln8 value Add/ldeductl: net gain/llossl on revaluation Carrylng (market) value at end of year 34,241 32,600 3,412 37,653 1,641 34,241 Analysls of Investments 2024 2023 Investments Ilsted on a recognised stock exchange or held In common Investment funds, open ended investment companies, unit trusts or other collective investment schemes 37,652 34,241 The balance at 30 June 2024 comprises: COIF Charities Investment Fund 98.41 Accumulation Units COIF Charitles Fixed Interest Fund - 1,330.07 Accumulation UnltS 25,356 12,296 37,652 22,801 11,440 34,241 The Society received no income from the investments during the year12024- £nill. -io- . OFFICIAL- Public
OFFICIAL- Public. This Information has been Cleared for unrÈstricted distrlbution.. THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITY NO.. 803751 NOTES TO THE ACCOUNTS Note 6: Debtors: amounts falling due wlthln one year 2024 2023 Prepayments Accrued income 233 12,049 12,282 249 12,373 12,622 Note 7: Credltors and accruals: amounts falllng due wlthln one year 2024 2023 Creditors- The Friends of the Gulldford Symphony Orchestra Accruals Deferred Income 1,578 1,811 231 2,347 6,566 9,144 3,389 Note 8: Movements of major funds Fund balances brought forward Fund balances carrled forward Incomlng Out8oln8 Galns and resources resources losses 2024 Fund name$ General fund Social fund Jellinek fund 22,626 9,521 24,111 56,258 39,958 2,196 (44,0591 (205) 18,525 11,512 27,523 57,560 3,412 3,412 42,154 {44,264} 2023 Fund names General fund Social fund Jellinek fund 22,076 7,792 22,470 52,338 32,767 1,969 132,217) (240) 22,626 9,521 24,111 56,258 1,641 1,641 34,736 {32,4571 11- . OFFICIAL- Public
OFFICIAL- Publlc. This informatiori h15 been ¢leared forunrestrlctéd distrlbtstion. THE SOCIETY OF THE GUIIDFORD SYMPHONY ORCHESTRA ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30JUNE 2024 CHARITY NO: 803751 NOTES TO THE ACCOUNTS Note 9: Concerts Una Clark Mar 2024 Young Charter- Artists house Sept 2023 Nov 2023 Family G-Llv¢ June Z024 Total 2023- G.Llve Total 2022- 23 Income Tlcket sales Tlcket selllng costs Programme sales 2,714 1601 10,124 11,3571 1,518 11721 2,109 12421 6,343 18391 22,808 12,6701 14,282 19121 2,654 8,767 1,346 1,867 5,504 20,138 13,370 Expendltur• Orchestra fees and expenses Sololst's fee5 Conductors, fees and expenses - ¢on( Hlre of concert halls Hlre of muslc Performlng rlghts (where separatèl Hlre of Instruments and equlpment Advertlslng and prlntln Sundry 1,305 650 410 1,500 175 2,140 500 600 5,522 165 350 1,600 410 600 57 3,275 650 600 400 331 71 3,000 10,070 3,400 2,620 13,262 1,248 71 6,967 1,000 1,800 9,274 1,550 71 600 5,240 520 863 429 35 9,391 552 14 3,583 658 85 6,070 637 346 10,343 3,139 480 34,290 1,605 206 22,473 4,903 PROFITIILOSSI 12,2491 16241 12,2371 14,2031 14,8391 114,IS21 19,1031 In the above analysls. rehearsal costs are not allocated to Indlvldual concerts. -12-
OFFICIAL- Public. This information has been cleared for unrestricted distrlbution.. THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA INCOME & EXPENDITURE 2023-24 2023-24 2022-23 INCOME Members, subscriptions Tax recovered on subscriptlons & donations Grants and donations Social events 100 Club Interest 8,580 1,351 500 1,886 310 169 12,796 8,658 1,540 3,025 1,489 480 20 15,212 EXPENDITURE Concerts- Income (see separate sheet) Less: Concerts - expendlture {see separate sheet) Net loss on concerts 20,187 34,496 (14,3091 15,688 22,472 16,784) Hlre of rehearsal hall Conductors, fees & expenses 100 Club- prlzes Insurance Independent Examlner's remuneration IT and Sundry expenses 3,150 4,200 205 354 250 169 22,637 2,310 4,490 240 255 290 960 15,329 NET OPERATING PROFIT/{LOSS) FOR THE YEAR {9,841} (117) Corporation tax refunded Less: accountancy fees re tax return preparation 9,171 1,440 7,731 3,836 1,440 2,396 (LOSS)/GAIN ON INVESTMENTS 3,412 1,641 NET (LOSS)/pROFIT FOR THE YEAR 1,302 3,920 Reserves held by Orchestra Reserves held by Friends Total reserves 57,560 20,088 77,648 56,258 19,923 76,181 nEcifi