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THE SOCIETY OF THE GUILDFORD SYMPHONY ORCHESTRA
Reglstered Charity No. 803751
ACCOUNTS
FOR THE YEAR ENDED
30JUNE 2024
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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
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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.
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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
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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

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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
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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
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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.
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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
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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
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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.
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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-
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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.
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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