NI CHARITY REF - 102506 HARD RAIN SOLOISTENSEMBLE (a charitable association) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024 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 2024 CHARITY INFORMATION AND OFFICERS BOARD OF TRUSTEES Gail Prentice Paul O'Reilly Jonny McGeown 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 En91ish and Languages Sonic Arts Research Centre 4 Cloreen Park BELFAST BT9 5HN NOR THERN IRELAND CHARIff REFERENCE NUMBER 102506
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024 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 2024. 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 (FR5102). 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 conlemporary 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 A New Beginning concert at Queen's University Belfast Under The Sky concert at Queen's University Belfast Ink Stil I Wet VII premieres Hard Rain Soloi5tEnsemble Featured Young Artists Recital Plugged In International Woman's Day concert Ulster Youth Orchestra join concert at Harty Room, Queen'5 University, Belfast classical.NE Showcase Concert at Holzmarkt, Berlin Gallery Music concerts at the U15ter Museum and Hugh Lane Gallery Workshops for clarinet, flute, composition, duo , other ensembles and audio engineering Continuing to build a library of recordings, online Commisions for Raymond Deane, Stephen Gardner, Rebecca Doherty, Sarah Colgan, Orly Watson, Sam Chambers, Laura Heneghan and Kevin Free 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, and no transactions to report. RESULTS The surplus for the year was £5,808 (2023.. £ 13,517 deficit)
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REPORT (continued ) CHARITABLE STATUS The charity 15 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 awarerTress 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 flowing from this purpose is seen in the boost the existence of our organisation provides to musical artists locally, 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 composers to become involved in music that is non-commercial, but has instead genuine creative a rtistic merit at it5 core (5) The benefit flowing from this purpose is 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 this 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 performance5 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 students 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 communicate 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 ticket5 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 2024 were £19,799 The company's core expenditure is well controlled due to the natu re 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 as 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 objectives 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 se¥out in the notes to the financial statements if
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024 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 trustees 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 deali ng 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. rentice stee BY ORDER OF THE BOARD Date 17 June 2024
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 3 1 March 2024. 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. It 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, as 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 matters that require drawing to your attention. Donald R Minshull FCA Minshull & Co Chartered Accountants and Statutory Auditor Date 17 June 2024 19 Crescent Business Park LISBURIV B T28 2GN
Hard Rain SoloistEnsemble FINAIVCIAL STA TEMENTS FOR THE YEAR EJVDED 31 MARCH 2024 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 INCOME Note restricted unrestricted total total Activities for generating funds Concert Fees Donations Income from Charitable Activities Revenue grants and contracts credited Other income 3,478 760 3,478 760 23,575 1,355 104,017 104,017 1,500 60,820 50 1,500 Investment Income Bank interest 70 70 30 104,017 5,808 109,825 85,830 EXPENDITURE Expenditure on Charitable Activities Artists Fees Travel and Accommodation Expenses Accommodation Piano Expenses Equipment Purchase Commissions Prizes Workshop Fees Score Hire 39,635 12,364 39,635 12,364 35,645 13,233 900 900 150 7,206 7,206 6,500 2,020 190 2,020 190 2,036 553 Total (62,315) (62,315) (58,117) Income less charitable activities direct costs 41,702 5,808 47,510 27,713 Charitable activities - support costs Insurance Equipment repairs and leasing Postage, stationery and office Supplies Advertising and publicity Artistic Director & Concert Manager Bank interest and charges Depreciation Sundry expenses Governance costs Accountancy & Audit Fees Legal and professional fees 675 710 13 6,139 31,675 281 40 377 675 710 13 6,139 31,675 281 40 377 452 549 142 5,112 33,000 127 40 284 1,140 652 1,140 651 900 625 Total (41,702) (41,702) (41,230) Net in/{out)ward resources for the period 2 5,808 5,808 (13,517) Balance brought forward at l April 2023 13,991 13,991 27,508 Balance carried forward at 31 March 2024 19,799 19,799 13,991 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 2024 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed Assets 560 600 Current Assets Grants receivable Cash at bank and on hand 2,000 26,906 1,000 13,531 28,906 14,531 Liabilitie4 (amounts falling due within one year) Revenue grants deferred Accruals Other taxes 6,895 2,772 240 900 9,667 1,140 Net Current Assets 19,239 13,391 Net Assets 19,799 13,991 FUNDS General reserve 19,799 13,991 Restricted Funds Balance at 31 March 2024 19,799 13,991 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 audit 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 authorised to be issued, by the Board of Trustees on the date below and signed on its behalf by Gail Prentice Trustee Date 17 June 2024 The notes on pages 9 to 12 form part of these accounts
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS I. ACCOUNTING POLICIES The following accounting policies have been used con515tently in dealing with items which are considered material in relation to the charity's financial statements. (a) Basis of Preparation The financial 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 (FRSI 02), 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 unles5 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 wa5 required. (c) Preparation of the Accounts on a Going Concern Basis The company reports -£5,808 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 funded by said grants. (e) Donated Services and Facilities Donated professional services and donated facilities are recognised 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 15 probable and the economic benefit can be measured reliably. In accordance with the Charties SORP (FRS 1021 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 services or facilitie5 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 deposlt is included when receivable and the amount can bemeasured reliably 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 activities 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 speciffied are to be solely used for particular areas of the company's work.
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS (continued) (h) Expenditure and Irrecoverable Value Added Tax Expenditure 15 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 activitie5 undertaken to further the purposes of the company governance and support Costs include all other cost5 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. (il Tangible Fixed Assets and depreciation Tangible fixed assets costing E200 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 25.00 % 33.33Q/o (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 acqui51tion or opening of the dep051t or 5imialr 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 ffinancial liabilities 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 members liability The charity is an unicgrporated association. The members are the trustees as lisled page 2. 2. DEFICIT/SURPLUS FOR THE YEAR IS STATED AFfER CHARGING: Accountancy Fees Examination Fees 790 350 10-
Hard Rain SoloistEnsemble FINAIVCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024 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 charityi excluding trustees, during the year was.. 2024 2023 number number Managerial and administration The remuneration paid to these persons was Artistic Director and Concert Manager 31,675 33,000 31.675 33,000 No employees had employee benefits in excess of £60,000 (2023: £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 2023 Additions 640 640 at 31 March 2024 640 640 DEPRECIATION at l April 2023 Charge for the Year 40 40 40 40 at 31 March 2024 80 80 NET BOOK VALUE at 31 March 2024 560 560
Hard Rain SoloistEnsemble FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS (continued) 6. RESTRICTED FUND GRANTS AND FEES 2024 2023 Funder - Arts Council Northern Ireland Queen's University Belfast Culture Ireland British Council Performing Rights Society Fund 79,411 8,510 3,251 5,500 13,000 26,827 13,885 6,348 13,000 Total amounts received in year 109,672 60,060 Amount accrued at l April 2023 Amount deferred at l April 2023 (1,000) 240 Amount accrued at 31 March 2024 Amount deferred at 31 March 2024 2,000 (6,895) 1,000 (240) Credit to Statement of Financial Activities 104,017 60,820 7. RESTRICTED FUNDS SUMMARY Opening Balance Income/ Expenditure/ Credits Transfers Closing Balance Arts Council Northern Ireland Queen's University Belfast Culture Ireland PerformirTrg Rights Society Fund British Council 74,986 7,510 3,251 13,000 5,270 (74,986) (7,510) (3,251) (13,000) (5,270) Total 104,017 (104,017) 8. 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 statements is the Pound Sterling {£). 12-