NI CHARITY REF - 102506 HARD RAIN SOLOISTENSEMBLE (a charitable association) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2023 CONTENTS Page Contents Charity Information and Officers Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2023 CHARITY INFORMATION AND OFFICERS BOARD OF TRUSTEES Gail Prentice Pauil O'Reilly Jonny McGeown James Cunningham CHAIR TREASURER SECRETARY INDEPENDENT EXAMINER Donald R Minshull FCA ACCOUNTANT Minshull & Co Chartered Accountants and Statutory Auditor 19 Crescent Business Park LISBURN BT28 2GN BANKERS Bank of Ireland 364 Lisburn Road BELFAST BT9 6GL REGISTERED ADDRESS Queen's University Belfast School of Arts English and Languages Sonic Arts Research Centre 4 Cloreen Park BELFAST BT9 5HN NOR THERN IRELAND CHARITY REFERENCE NUMBER 102506
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES. REPORT The trustees, who also act as trustees for the charitable activities of the company, present their annual report together with the financial statements for the year ended 31 March 2023. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the trustees, annual report in accorandance with the Charities SORP (FRS102) and Charities Act (Northern Ireland) 2008. The trustees have elected to prepare the financial statements in accordance with UK GAAP and confirm that the reporting framework that has been applied in their preparation was the Charities SORP (FRS102). TRUSTEES The trustees of the charity during the financial year were as stated on page 2. OBJECTIVES AND ACTIVITIES The objectives of the charity are to promote and improve modern and contemporary chamber music and works of artistic merit for the public benefit by the provision of events, performances, information, exhibitions and training as the Committee shall determine to advance education and promote learning about the creative processes involved in the production and performance of modern and contemporary chamber music to develop appreciation and encourage participation in the performance of modern and contemporary chamber music to advance education through the promotion and support of modern and contemporary chamber music and, in this respect, promoting concerts using postgraduate soloists and local composers of music for the benefit of their education to encourage the artistic creativity and enhance the general knowledge and understanding of the beneficiaries in modern and contemporary chamber music and related musical and cultural activities to advance any other exclusively charitable purpose in connection with the art of modern and contemporary chamber music and other related musical, cultural and artistic activities as the directors, may from time to time, decide in accordance with the law of charity ACHIEVEMENTS During the year the charity has obtained funding from many sources. This has enabled it to take part in the following activities and events Hard Sonorities at Queen's University Belfast Ulster Youth Orchestra workshop and concert Corcoran in Dublin New Horizons at Queen'5 University Belfast Academy of Urbanism at Ulster Museum Schoenberg Revisited with Maiden Voyage Dance at Queen's University Belfast Musicahora Festival in Chile Various instnjment performance workshops Augmented Vocality Ink Still Wet Vl Hard Rain SoloistEnsemble Featured Young Artists Recital Inner as part of International Women's Day Various Pierrot Lunaire events and activities therefore the objectives are being achieved in a very positive manner. RELATED PARTIES There are no related parties to report save the board of trustees. RESULTS The deficit for the year was £13,517 (2022.. £ 16,512 surplus)
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES. REPORT (continued) CHARITABLE STATUS The charity is an unincorporated charitable association. It is registered with the Charity Commission for Northern Ireland under reference number 102506. PUBLIC BENEFIT The direct benefits flowing from the purposes (l) The benefits flowing from this purpose are in the the raising of awareness of art/music as a passive or active activity that enables the population to enhance their quality of life through participation/ engagement in culture, arts and leisure activities. The improvement of interpretation of this music offers the population a quality of provision in line with other major cities. In addition, we believe that communities can now benefit, socially and culturally, from exposure to this music that has been previously difficult to access (2),The benefit which flows from these is that the organisation broadens the understanding and enriches (3) cultural awareness, particularly in young people, for contemporary music. We make this music accessible through a programme of workshops enabling engagement and participation. More widely we improve awareness of the music amongst the general public through our promotion and concert programming (4) The benefit ftowing from this purpose is seen in the boost the existence of our organisation provide5 to musical artists locallyi both performers and composers. The ensemble encourages the appreciation of art music, that originates in our community, by the wider local community. The ensemble encourages players and composer5 to become involved in music that is non-commercial, but has instead genuine creative artistic merit at its core (5) The benefit flowing from this purpose 15 in the broadening out of the general remit of the ensemble as a means of attracting and building new audiences of people within the community for thi5 music. Benefits are capable of being demonstrated, proven and evidenced through monitoring the breadth of music that we promote throughout our seasons, noting the number of local composers programmed and number of local works performed, the number of premiere performances and the number of repeat performances. Audience surveys are used at events to assess audience satisfaction information is collated and used to inform future events thereby improving the direct benefit to the public. In workshops stLJdents and participants are surveyed to ensure that they are benefiting directly from the event. Activities such as the organisation's engagement with art students demonstrate the broadening of our activities where we feel the music might benefit a wider audience base or attract young people outside the spectrum of modern and contemporary music and encourage them to become actively or passively involved. Our work in specially organized workshops with young composers and performers and through a series of pre-concert talks given throughout our programme, helps young people improve the technical language required to cofflmunicate and helps them build confidence in their creative and expressive abilities. This benefit is demonstrated in and evidenced by an improved capability and facility in their studies as a result. Letters of recommendation from their professors are testament to this outcome. No harm arises from our purpose. The only private benefits flowing from our purposes are that musicians and composers, who are the subject of our season's focus, stand to benefit in terms of their own professional experience, and while the organization seeks to -promote contemporary music- as stated in its objects, artists careers will be promoted as incidental to that. Normally HRSE do not charge for educational workshops and concert activities have pricing arrangements to include concessions for unemployed. Indeed, we have use "test drive the arts" a facility that allows anyone to sign up for pre-allocated tickets at no charge to allow them to engage with our ensemble for the first time. The beneficiaries are the general public and young people {14-25 year olds) and no one connected to the organisation gains a private benefit which is more than incidental to carrying out the purposes. FINANCIAL REVIEW & RESERVES POLICY Reserves at 31 March 2023 were £13,991 The company'5 core expenditure is well controlled due to the nature of the operations. It continues to expand its charitable and fund raising activities to ensure it reaches as many people as possible. The profile of expenditure is a5 agreed with the funders when applicable. Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objective5 of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is seSout in the notes to the financial statements if
Hard Rain SoloistEnsemble FINAIVCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES, REPORT (continued) FINANCIAL REVIEW & RESERVES POLICY (continued) identified as such. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. IMPACT OF COVID-19 The impact of coranavirus restrictions meant that there had been a reduction in physical in-person gatherings for performances and workshops and an increase in online activity. Now back to normal there has been no impact on the charity's sustainability due to the relatively low overhead model. The trustee5 are satisfied that the charity can continue to endeavour to achieve its objectives. GOING CONCERN The trustees, having considered the charity's income streams, financial means and strategy for dealing with issues such as the impact of Covid-19, over the next 12-18 months, are satisified that the going concern basis is appropriate. FUTURE PLANS As stated above the charity continues in its attempt to find relevant funders and projects to further its objectives in the coming years. AUDIT EXEMPTION In accordance with the provisions of the Charities Act (Northern Ireland) 2008 the charity is exempt from the statutory audit requirement. INDEPENDENT EXAMINER The independent examiner, Donald R Minshull FCA of Minshull & Company, Chartered Accountants and Statutory Auditor, offers himself for re-appointment. ype text here Gail Prentice Trustee BY ORDER OF THE BOARD Date 12 May 2023
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF Hard Rain SoloistEnsemble I have examined the financial statements, on pages 7 to 12, which comprise the Statement of Financial Activities, Balance Sheet and related notes of Hard Rain SoloistEnsemble for the year ended 31 March 2023. The financial reporting framework that has been applied in their preparation is applicable law and Charities SORP (FRS 102) and the accounting policies set out therein. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of accounts. The charity's trustees consider that an audit is not required for this year under section 65 of the Charities Act (Northern Ireland) 2008 and that an independent examination is needed. Et is my responsibility to examine the accounts under section 65 of the Charities Act follow procedures laid down in the general directions given by the Charity Commisssion for Northern Ireland under Section 65(9)(b) of the Charities Act state whether particular matters have come to my attention. Basis of independent examiner's statement My examination was carried out in accordance with general directions given by the Charity Commission for NI, a5 required under section 65(9)(b) of the Charities Act (Northern Ireland) 2008. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair. view and the report is limited to those matters set out in the statement below. My role is to state whether any material matters have come to my attention giving me cause to believe.. l. That accounting records were not kept in accordance with Section 63 of the Charities Act 2. The the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters l. to 4. listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matter5 that require drawing to your attention.
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2023 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 INCOME Note restricted unrestricted total total Activities for generating funds Concert Fees Donations Income fmm Charitable Activities Revenue grants and contracts credited Investment Income Bank interest 23,575 1,355 23,575 1,355 6,564 1,066 60,820 60,820 73,751 30 30 198 60,820 25,010 85,830 81,579 EXPENDITURE Expenditure on Charitable Activities Artists Fees Travel Expenses Accommodation Piano Expenses Equipment Purchase Commissions Prizes Workshop Fees Score Hire 29,105 7,764 I,ioi 6,540 35,645 7,764 5,469 150 24,442 4,369 150 3,049 1,913 4,500 1,525 6,500 6,500 2,036 loo 2,036 553 453 171 Total (46,606) (11,511) (58,117) (35,600) Income less charitable activities direct costs 14,214 13,499 27,713 45,979 Charitable activities - support costs Insurance Online Management Equipment repairs and leasing Postage, stationery and office supplies Advertising and publicity Artistic Director & Concert Manager Training & conferences Bank interest and charges Depreciation Sundry expenses Governance costs Accountancy & Audit Fees Legal and professional fees 248 164 80 204 204 469 142 2,408 21,647 452 368 549 142 4,744 33,000 1,213 393 2,336 11,353 3,496 24,000 200 113 33 94 40 284 127 40 284 52 900 624 900 624 Total (14,214) (27,016) (41,230) (29,467) Net in/(out)ward resources for the period 2 (13,517) {13,517) 16,512 Balance brought forward at l April 2022 27,508 27,508 10,996 Balance carried forward at 31 March 2023 13,991 13,991 27,508 The charity made no other gains or losses during the year other than those stated above The notes on pages 9 to 12 form part of these accounts
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2023 BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Note Fixed Assets 600 Current Assets Grants receivable Cash at bank and on hand 1,000 13,531 28,070 14,531 28,070 Liabilitie¢ (amounts falling due within one year) Revenue grants deferred Accruals Other taxes 240 901 562 1,141 562 Net Current Assets 13,391 27,508 Net Assets 13,991 27,508 FUNDS General reserve 13,991 27,508 Restricted Funds Balance at 31 March 2023 13,991 27,508 For the financial year in question the charity was entitled to exemption under Section 65 of the Charities Act (Northern Ireland) 2008 relating to small charities. No one has required the charity to obtain an aud it of its accounts for the year in question. The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to the accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to charities subject to the Charities SORP (FRS 102). Approved, and authori5ed to be issued, by the Board of Trustees on the date below and signed on its behalf by Gail Prentice Trustee Date 12 May 2023 The notes on pages 9 to 12 form part of these accounts
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2023 NOTES TO THE FINANCIAL STATEMENTS I. ACCOUNTING POLICIES The following accounting policies have been used consistently in dealing with items which are considered material in relation to the charity's financial statements. (a) Basis of Preparation The Iinancial statements have been prepared in accordance with 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 - Charities SORP (FRS102), the Financial Reporting Standard applicabale in the The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transacton value unless otherwise stated in the relevant accounting policy note. (b) Reconciliation With Previous Generally Accepted Accounting Practice In preparing the accounts, the trustees have decided that in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 no restatement of comparative items was required. (c) Preparation of the Accounts on a Going Concern Basis The company reports £13,517 cash outflow for the year and the trustees have formulated a strategy that will secure the immediate future of the company for the next 12 to 18 months and on that basis the charity is a going concern. (d) Income Income is recognised when the company has entitlement to the funds, any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants, of a revenue nature. is recognised when the company has entitlement to the funds. any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not repayable to the funder. Capital grants are amortised in line with the depreciation of the associated assets, the purchase of which has been fijnded by said grants. (e) Donated Services and Facilities Donated profe55ional Services and donated facilities are recogni5ed as income when the company has control over the item, any conditions associated with the donated item have been met. the receipt of economic benefit from the Use of the item by the charity is probable and the economic benefit can be measured reliably. In accordance with the Charties SORP (FRS 102) general volunteer time is not recognised. On receipt. donated professional Services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain service5 or facilities of equivalent economic benefit on the open market. a corresponding amount is then recognised in expenditure in the period of receipt. (f) Interest Receivable Interest on funds held on deposit is included when receivable and the amount can bemeasured rellably by the company, normally upon notification of the interest paid or payable by the financial institution. (g) Fund Accounting Unrestricted funds are available to spend on activitie5 that further any of the purpoes of the company. Designated funds are unrestricted funds of the charity that the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the company's work.
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR TrIE YEAR ENDED 31 MARCH 2023 NOTES TO THE FINANCIAL STATEMENTS (continued) (h) Expenditure and Irrecoverable Value Added Tax Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be requireed and the amount of the obligationcan be measured reliably. Expenditure is classified under the following activity headings: costs of raising funds comprise the costs of commercial trading expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the company governance and support costs include all other costs Unrecovered Value Added Tax is charged as a cost against the activity for which the expenditure was incurred. Support Costs Support costs are disclosed separately in the Statement of Financial Activities. (i) Tangible Fixed Assets and depreciation Tangible fixed assets Costing £200 or more are stated in the accounts at original cost less depreciation in order to write off the cost of fixed assets, over their estimated useful lives, using the following annual rate Fixtures, fittings and equipment 25.000/0 (k) Debtors Debtors and accrued income are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid. Cash at Bank and in Hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less From the date of acquisition or opening of the deposit or simialr account. (m) Creditors and Provisions Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after any discounts. (n) Financial Instruments The company only has financial assets and financial liabilitie5 of a kind that qualify as basic Financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. (o) Exemption from preparing a cashflow statement Exemption has been taken from preparing a cashflow statement on the grounds that the company qualifies as a small company. (p) Charity status and n7embers liability The charity is an unicorporated association. The members are the trustees as listed page 2. 2. DEFICIT/SURPLUS FOR THE YEAR IS STATED AFTER CHARGING: Accountancy Fees Examination Fees 550 350 10-
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2023 NOTES TO THE FINANCIAL STATEMENTS (continued) 3. TRUSTEES The trustees received no emoluments nor expenses during the period. 4. PERSONNEL Number of personnel The average weekly number of persons engaged by the charity, excluding trustees, during the year was: 2023 number 2022 number Managerial and administration The remuneration paid to these persons was Artlstic Director and Concert Manager 33,000 24,000 33,000 24,000 No employees had employee benefits in excess of £60,000 (2022: £nil). As the above persons are self employed there are no associated pension costs. 5. TANGIBLE FIXED ASSETS Fixtures & Fittings TOTAL COST at l April 2022 Additions 640 640 at 31 March 2023 640 640 DEPRECIATION at l April 2022 Charge for the Year 40 40 at 31 March 2023 40 40 NET BOOK VALUE at 31 March 2023 600 600
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2023 NOTES TO THE FINANCIAL STATEMENTS (continued) 6. RESTRICTED FUND GRANTS AND FEES 2023 2022 Funder Arts Council Northern Ireland Queen's University Belfast Culture Ireland Arts Council Northern Ireland - Stability and Renewal Fund Performing Rights Society Fund 26,827 13,885 6,348 55,925 3,350 1,476 13,000 13,000 Total amount5 received in year 60,059 73,751 Amount accrued at 31 March 2023 Amount deferred at 31 March 2023 1,000 (240) Credit to Statement of Financial Activities 60,820 73,751 7. RESTRICTED FUNDS SUMMARY Opening Balance Income/ Expenditure/ Credits Transfers Closing Balance Arts Council Northern Ireland Queen's University Belfast Culture Ireland Performing Rights Society Fund 26,587 14,885 6,348 13,000 {26,587) (14,885) (6,348) (13,000) Total 60,820 (60,820) . RELATED PARTY There were no related party transactions to note. 9. STATUTORY INFORMATION Hard Rain SoloistEnsemble is an unincorporated association. The charity's Charity Commission for Northern Ireland's reference can be found on the company information page. The presentation currency of the financial 5tatementS IS the Pound Sterling {£). 12-