Charty Registration No. N1106395
Company Reglstration No. N1636612 (Northern Ireland)
THE ULSTER ORCHESTRA FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
harbiiisoii
iiiulholland

THE ULSTER ORCHESTRA FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustogs
MrAndrew Dougal OBE
Mrs Frances Gibson
IAr (Victor) Alan Hewitt
Mr (Patrick Mark) Paul Hunt
Mr Michael Alexander
Mr Peter Spratt
Sècretary
Mrs Barbara McKinley
Charity nUM￿r
N1106395
Company nurnber
N1636612
Registered office
Seymour House
9 Gloucester Street
Belfast
Antrim
Northern Ireland
BT14LS
Independent examiner
Harbinson Mulholland
Centrepoinl
24 Omieau Avenue
Belfast
Co. Antrim
Northem Ireland
BT2 8HS

THE ULSTER ORCHESTRA FOUNDATION
CONTENTS
Pa99
TTUStees' report
Independent examinerfs report
Statement of financial activities
Stslemenl of financial position
Notes to the financial statements
6-11

THE ULSTER ORCHESTRA FOUNDATION
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report and financtal $latsments for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 10
the financial slalemenls and comply with the Foundation's Arkncles of Association, the Companies Act 20C6
and 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 102)" (as amended for accounting periods commencing from 1 January 20161.
Objectives and activitie8
The Foundation's object is the promotion of the study, practice and kno¥￿edge of the art of Music in Northem
Ireland and elsewhere by the giving and arrangement of concerts and other such means as il is though fit
including, wilhoul limitation, the provision, maintenance or improvement of perfomiances, educational
activities and community engagement by the Ulslei Orchestra at venues in Northem Ireland and elsewhere
where it is for the benefit of the public generally.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what artivilie$
the Foundation should undertake.
Achlevements and perforniancè
Flnancial review
The results for the year are set out on page 4.
The directors. policy is lo ensure that suffjcient unrestricted reserves ale available to cover c￿e
adminislralion, fund-raising and support Costs, without which the charity could not function, and to provide for
known fvture developmenls. liabilities and uncertainties. The level of reserves is rewewed on an ongoing
basis.
The trustees has assessed the major risks to which the Foundatlon 18 exposed. and are satisfied that systems
are in place to mitigate exposure lo the major risks.
COVID 19
At the beginning of 2020 there was a global outbreak of COVIt>19. The Charity has conts'nuerj to operate
throughout th8 pericd.
Stru¢turgJ governance and management
The Foundation is a company limited by guarantee and was incorporated on 23 February 2016. There are 6
trustees and now trustees can be appointed at a properly convened meeting up to the maximum permitted in
the Foundation's Articles of Association
The tfustees. who are also the director8 for the purpose of company law. and who seNed during the year and
up lo the dale of signature of the financial statements were..
MrAndrew Dougal OBE
Mrs Frances Gibson
Mr (Victor} Alan Hewitt
Mr IPalrid( Mark) Paul Hunt
Mr Michael Alexander
Mr Gerald Lavery
Mr Pgler Sprati
(Resigned 24 September 2020)

THE ULSTER ORCHESTRA FOUNDATION
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
None of the trustees has any beneficial inleTesl In the company. All ofthe trustees are members of the
company and guarantee lo contribute £1 in the event of a wnding up.
The trustee
' report was approved by the Boaid of Trustees.
Mr (Patric
Chairman
ark) Paul Hunt
Mr (Victor) Alan Hewltt
Trustee
Dated.. ..l.i&.:..I,U-.....knLI

THE ULSTER ORCHESTRA FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE ULSTER ORCHESTRA FOUNDATION
We report lo the trustees on our examination of the financial ststemenls of The U151er Orchestra Foundation
(the Foundation) for the year ended 31 March 2021.
Responslbllltle8 and basis of report
As the twstees of the Foundation land also its directors for the purposes of company lawl you are
responsible for the preparation of the financial statements and you have considered the audit requirement of
Section 65{3) of the Charities Act INI) 2008 (the Act}. H8ving satisfied ourselves that the charity is not
subject lo audit under company law. and is eligible for independent examination. il is our responsibility lo..
examine the accounts under section 65 of the CharitiesAcl {Northern Ireland) 2008-
follow the procedures laid down in the general Directions given by the Charity Commission for
Northem Ireland under seclioft 6519llbl of the Charities ACL
stste whether particular mallers have come to our attention.
Independent examlnerfs Statement
We have examined your charity accounts as fequired undeT Section 65 of the Charities Act and our
examination was cariied out in accordance with the general Difeclions given by the Charity Commission for
Northern Ireland under section 65(9llbl of the Charities Act. The examination included a review of the
accounting records kept by the charity and a comparison of the accounts presented with those re¢ords. It
also included consideration of any unusual items or disclosures in the a￿unts, and seeking explanations
from you as charity trustees eoncerning any such matters.
Our role is lo state whether any material matters have come to our attention giving us cause lo believe..
That accounting records wers not kopt in respect of the Foundation as required by sects'on 386 of the
2006 Act,. or
the financial slalements do not accord with those records.. or
That the financial slalements do not comply with the accounting requirements of section 396 of the
Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended
practi￿ applicable lo charities preparing their accounts in accordance with the Financial Reporting
Stsndard applicable in the UK and Republic of Ireland.
That there is further information needed for a proper understsnding of Ihe accounts to be reached.
We have completed our examination and have no concems In respect of the matters {11 to (41 listed above
and, in conne¢lion with following the Directions of the Charity Commission for Northern Ireland, we have
-f_ound_no matters that_ require drawing to your attention.
PLa-LilV I i[IcLQ
Harbinson Mulholland
Chartered Accountants
Centrepoinl
24 Ormeau Avenue
Belfast
Co. Antrim
BT2 8HS
Northem Ireland

THE ULSTER ORCHESTRA FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOMEAND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
Unrestrlcted Rostrleted
fund$
funds
2021
2021
Total Unrestricted Restricted
f¥Jnds
funds
2020
2020
Total
2021
2020
Notes
Donations and legacies
5.0¢)0
5.000
30.516
17,811
48,327
Charltable activities
5.448
5,448
27,473
16,596
44.069
Net lexpendlturovincome
for the yearf
Nat movement in funds
{4481
14481
3.043
1,215
4,258
Fund balances at 1
April 2020
12,104
13,715
25,819
9,061
12.500
21,561
Fund balances at 31
March 2021
11,656
13,715
25,371
12,104
13,715
25.819
The stalement of finarFcial aclfvilles includes all gains and losses ￿COgniSed in the year.
All income and expenditure derive from continuing activities.
The slalement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.

THE ULSTER ORCHESTRA FOUNDATION
STATEMENT OF FINANCIAL POSITION
ASAT31 MARCH2021
2021
2020
Notes
Curont assets
Cash at bank and in hand
34,424
30.595
Cr•ditors: amounts falllng dug within
one year
{9,053)
(4,776)
Nel current assets
25.371
25,819
Incomo funds
Restricted funds
Unrestricted funds
13,715
71,656
13,715
12.104
25,371
25,819
The company is entiued to the exemption from the audit requirement contalned in section 4T1 of the Companies
A￿ 2006, for the year ended 31 March 2021.
The directors acknowledge their responsibilrties for complying wlh th8 requirements of the Companies Act 2006
th respect to accounting records and the preparation of financial statements.
The fftembers have not required the company to obtain an audit of ils flnan¢ial statements for the year in
question in accordance wth section 476.
These finandal slalements have been prepared in a￿)rdance %Aqlh the provisions applicable lo coThpanies
subject to the small companies regime.
sl tements were approved by the Trustees on A'.rt.. 1 è I I
The fin
n¢1
Mr (Patr.
Trust90
k Matkl Paul Hunt
Company Registration No. N1636612

THE ULSTER ORCHESTRA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
ACCOUn￿n9 pollcle8
Charfty InfoTmatlon
The Ulster Orchestra Foundation is a private company limited by guarantee incorpoialed in Northern
Ireland. The registered Offi￿ is Seymour House. 9 Gloucester Street, Belfast, Anlrim, 8T1 4LS, Northern
Ireland.
1.1 A¢countlng conventlon
The financial statements have been prepared in accordance wtth the Companies Act 2006 and'Accounting
and Reporting by Ch8rilies'. Statement of Recommended Practice applicable lo charities preparing their
accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland
(FRS 1021. {as amended for accounting periods commencing from 1 January 20161. The Foundation 1$
Public Bgnefit Entity as defined by FRS 102.
The Foundation has taken advantsge of the provisions in the SORP for charities apptying FRS 102 Update
Bulletin 1 not lo prepare a Statement of Cash Fl¢)WS.
The financial slalements are prepared in sterling, which is the functional currency of the Foundation.
Monetary amounts in these financial statements are rounded to the neare51 £.
The financial slalements have been prepared under the historical cost Convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the lime of appioving the financial slatemenls. the trustees have a reasonable expectatton that the
Foundation h2s adequate resources lo continue in operational existence for the foreseeable future. Thus
the trustees continue lo adopt the going concem basis of accounting in preparing the financial statements.
1.3 Charitsble funds
Unrestricted funds are available for use at the discretion of the trustees in fL5rtherance of Iheir tharilable
objectives.
Reslrlcted funds are Subject lo speciflc conditions by donors as lo how they may be used. The purposes
and uses of the restricted fvnds are set out in the notes lo the financial statements.
Endowment funds are Subject to specific Conditions by donors that the capitsl musl be mainlained by the
Foundation.
1.4 Income
Inwme is Tecognised when the Foundation is legally entitled to il after any perfom7ance conditions have
been met, the amounts can be measured reliably. and it is probable that income will be rece(ved.
Cash donations are reeognised on re￿ipl. Other donalions are recognised once the Foundation has been
notified of the donation, unless performance conditions require deferral of the amount. Income lax
recoverable in ￿latIon lo donations received under Gift Aid or deeds of covenant is recognis$d at the time
of the donalton.
Legacies are wognised on receipt or otheTh¥ise if the Foundation has been not¢fied of an impending
dislribulion. the amount is known, and receipt is expected. If the amount is not known. the legacy is treated
as a conkn"ngent asset.

THE ULSTER ORCHESTRA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Accounting poli¢les
(Continued)
1.5 EX￿ndIture
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity lo the
expenditure. All expenditure is accounted for on an accruals basis and has been classified undèr headings
that aggregate all ￿$1S related lo the category.
Charitable expendtture comprises those cost5 in¢LFrred by the charity in the delivery of its activrties and
services for its beneficiaries. 11 includes both costs that can be allocated directly lo such actNilies and those
costs of an indirect nature necessary to support them.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposits held at C811 with banks, other short-tem7 liquid
investments with Original maturities of three months or less, and bank overdrafts. Bank overdrafts are
shown within borrowings in current liabilities.
Baslc flnancial assots
Basic finanaal assets. which include debtors and cash and bank balances, are initially measured at
transaction pri￿ including transacliofi costs and are subseqLfenlly carried al amortised cost using the
effective interest method unless the arrangement conslilulgs a financing Iransaclion, where the Irar*saclion
is measured al the present value of the fulufe receipts discounted at a market rate of interest. Financial
assets classified as receivable within one year are not amorti5ed.
Bas1¢ flnan¢lal Ilabllitles
Basic financial liabilities, including Creditors and bank loans are inttialty recognised al transaction pri
unless the arrangement conslilules a finanung Iransaclion, where the debt instrument is measured at the
present Value of the future payments discounted al a market rate of interest. Financial liabilities classified
as payable within one year are not amortised.
Debt instrijments aro subsequently carried al amgrtised cosL using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquifed in the ordinary course
of operations from suppliers. Amounts payable are classified as current liabilities if payment 15 due within
one year or less. If not. they are presented as n0n-Cur￿nt liabilities. Trade CTedilors are recognised initialty
at transaction price and subsequently measured al amortised cost using the effective interest method.
Derecognition orfinancial Ilablllties
Financial liabilities are derecognised when the Four%dation's eontractual obligations expl￿ or a
discharged or cancelled.
Critlcal accountlng estlmatss and 5udgemonts
In the application of the Foundation's accounting policie5, the trustees are required to make judgements,
eslimales and assumptions about the carying amount of assets and liabilities that a￿ not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and
other factors that are considered lo be relevant. Actual results may differ from these estimates.
The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting
eslimales are re￿gnised in the period in which the estimate is revised where the revisson affects only that
period. or in the period of the revision and future periods where the revision affects both CUTrenl and future
periods.

THE ULSTER ORCHESTRA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Donatlons and loga¢ie$
Unrestrlctsd Unrestricted Restricted
nds
funds
funds
Total
2021
2020
2020
2020
Donations and gifts
5,000
30.S16
17.811
48,327
Charitablo a¢tSvltles
2021
2020
Management costs
Advertising
Book cost
Donation to Ulster Orchestra
4.277
6.110
108
16,596
20,000
4,277
42.814
Share of support wsts (see note 5)
Share of governance costs (see note 5}
61
1.110
55
1,200
5,448
44,[￿9
Analy$i$ by fund
Unrestricted funds
Restricted funds
5,448
27.473
16.596
For the year ¢ndo(f 31 March 2020
Unrestricted funds
Restricted fvnds
27.473
16,596
44,069

THE ULSTER ORCHESTRA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Support costs
Support Govomance
costs
costs
2021
Support Governance
costs
C051s
2020
Bank charge
61
61
S5
55
Accountancy
1,110
1,110
1,200
1.200
61
1,110
1,171
55
1,200
1,255
Analysed betsveen
Charitable aclivrtles
61
1,110
1,171
1,200
1.255
Trustsos
None of the trustees lor any persons connected with them) weived any remuneration or benefits from the
Foundation during the year.
Employees
The ave¥age monthly number of employees during the year was..
2021
Numbor
2020
Numb9r
Total
Credltor8: amounts falllng dua wlthln on• year
2021
2020
Trade creditors
Accruals and deferred income
7.943
1,110
4.776
9,053
4,776

THE ULSTER ORCHESTRA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
Restrfctgd fund$
The income funds of the chartty include festricled funds comprising the following unexpended balances of
donations and grants held on trust for specific purposes=
Movement in fund8
Movement
In fund8
Balance at
Incomlng
r950urc95
Balancè at
l April 2020
In¢oming
Balan¢e at
resour¢es 31 March 2021
1 Apdl 2019
expended
Book sponsorship
McGinnislBraidwater
D Thompson
12.500
6.811
10.000
1.000
116,596>
2,715
10,000
1,000
2,715
10,000
1,tXIO
12.500
17.811
{16,5961
13,715
13,715
10 Unrestrlcted fund$
Movement in funds
Incomlng
R950urc95
Balance at
ro9oyr¢•s
•xp6nd¢d 31 Alarch 2021
Balance at
1 Aprfl 2020
Unrestricted funds
12,104
s.ooo
{3,7161
13.388
11 Analysis of net assets between funds
Unrestricted Rostrf¢tod
funds
funds
2021
2021
Total Unrestricted Restricted
funds
funds
2020
2020
Totsl
2021
2020
Fund balances al 31
March 2021 ar8
represented by..
Cuttenl assetsl
11,656
13,715
25,371
12,104
13,715
25,819
11.656
13,715
25,371
12,104
13,715
25,819
10-

THE ULSTER ORCHESTRA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
12 Relatsd party transactions
Transactlon8 wlth related parties
During the year the Foundation entered into the following transactions with related parties..
Donation made
2021
2020
Other related parti&5
20,000
The Foundation also incurred management costs from an other related party of £4.277 12020 - £6,110}
during the year.
The balance owed to related parties at 31 March 20211s £7.94312020 £3,666).