## **BELFAST MUSIC SOCIETY LIMITED** ## **MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ The Members present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Companies Act 2006 and "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 and Republic of Ireland (FRS 102) (effective 1 January 2019)". ## **Objectives and activities** Belfast Music Society exists to present chamber music concerts, which it has been doing since 1921, and as such meets the public benefit test by encouraging the playing and appreciation of chamber music. The Members have paid due regard to guidance issued by the Charity Commission in deciding what activities the Society should undertake. ## **Achievements and performance** Belfast Music Society has presented an Annual International Festival of Chamber Music at Queen's University Belfast since 2005, consolidating the previous long-running subscription series into a single event. Over the years, BMS's season has grown to include the Northern Lights Mini-Fest, Night Music, Chamber Babies & Cherubs, and a diverse programme of education and outreach activities. In recent seasons, we further expanded our offerings to include BMS CHILL, a series of classical music concerts tailored for people with additional needs, facilitated by RiChmusicNI, specialists in music education for individuals with special needs. The 2023-2024 season marked an exciting return to a full slate of live performances. The International Festival of Chamber Music showcased world-class musicians such as Michael McHale, The Marmen Quartet, and Ailish Tynan & James Baillieu, captivating audiences with a blend of technical brilliance and emotive performances. Our Northern Lights Mini-Fest featured an eclectic programme including Peter Moore & Friends, The Nightingale Trio and Fionnuala Ward & David Zucchi combining classical traditions with contemporary perspectives. Education and community engagement also took centre stage, with our Chamber Babies & Cherubs concerts continuing to inspire young audiences, while workshops and masterclass initiatives connected students with chamber music in creative and accessible ways. This vibrant season demonstrated the resilience and evolution of Belfast Music Society, ensuring chamber music remains a vital and inspiring presence in the cultural life of Belfast. ## **Financial review** The Statement of Financial Activities for the year is set out on page 4. The accumulated funds decreased by £5,776 to £68,341 _(_ 2023: £74,117). ## **Reserves policy** The Society's policy is to retain a level of free reserves to enable it to stage next year’s International Festival which will take place in March. As the Society is primarily publicly funded through the Arts Council for Northern Ireland, there is a risk to future funding from, among other things, a change in public policy, and our reserves are held to cover this eventuality. - 1 - ## **BELFAST MUSIC SOCIETY LIMITED** ## **MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **Risk management** The Members have overall responsibility for ensuring that the Society has in place an appropriate system of controls, financial and otherwise, to provide reasonable assurance that: - the Society is operating efficiently and effectively; - its assets are safeguarded against unauthorised use or disposition; - proper records are maintained and financial information used within the Society or for publication is reliable; - the Society complies with relevant laws and regulations; and - the Society's systems of financial control are designed to provide reasonable, but not absolute assurance against material misstatement or loss. The major risks to which the Society is exposed, as identified by the Society members, have been reviewed and systems have been established to mitigate those risks. ## **Structure, governance and management** Belfast Music Society operated since 1921 as an unincorporated association, but incorporated as a Company Limited by Guarantee on 29 March 2016. The Society is governed and managed by a Board. The term of office for Officers is four years which is renewable, but no Officer may serve for more than eight years without a break. Board members also serve a four-year term which is renewable once. The Members, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: J Harmar-Smith K Gordon I H Lindsay B McGeown R McNair B Aiken (Resigned 29 August 2023) Mr A J Kirby (Appointed 1 May 2023) Dr J Licinic Van Walstijn (Appointed 20 July 2024) ## **Statement of society members' responsibilities** The Society members are responsible for preparing the Society's annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice). The Members' report was approved by the Board of Members. .............................. ## **J Harmar-Smith** Chair Dated: ......................... 17/12/24 - 2 -