Company registration number.. N1035573 Charity registration number.. 106890 Camerata Ireland (A company limited by guarantee) Annual RetK)rt and Financial Statements for the Year Ended 31 March 2024
Camerata Ireland Contents Charity Accounts 1 lo17 Reference and Administrative Details Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10
Camerata Ireland Reference and Administrative Details Trustees Michael Gerard D'Arcy Noreen Ann Wright Simon Taylor Kieran Richard Tobin Rosemary Margarel O'mahony Roger Alan Pollen Mr Barry Douglas Secretary Charity Registration Number 106890 Company Registration Number N1035573 The charity is incorporated in Northern Ireland. The Coutyard Clandeboye Estate Bangor County Down BT19 1RN Registered Office Independent Examiner RBCA Limited Linenhall Exchange 26 Linenhall Street Belfast BT2 88G Page 1
Camerata Ireland Trustees. Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024. Objectives and activities The companys objectives have been set out below. Musicians Pro-actively research and seek out the best Irish musicians. from north and south, both emerging from conservatories and colleges in Ireland and overseas and those already established, to play in the orchestra. Ensure that the best of players are motivated and facilitated to perfom with Camerata Ireland, without diminishing their other freelance opportunities. Ensure that all Irish players, at home or abroad, are aware of Camerata Ireland and the opportunities to play with it as a vehicle for professional development. Create opportunities for Irish and intemational soloists and conductors to perfomi with Camerata Ireland. Education and outreach Discover and encourage the young musician at an advanced stage in their musical development or starting their professional music career. by offering performance and mentoring opportunities. This would be through masterclasses at the Clandeboye Festival in Co Down every August, but also by inviting young musicians on tour with Camerata Ireland where they can perform alongside our established musicians as members of the orchestra or as soloists. Mission statement Camerata Ireland, a world-class chamber orchestra from the island, north and south. expresses the vitality and excellence of Irish musicianship by performing, at home and abroad, under the artistic leadership of international pianist Bary Douglas. In setting objectives and planning activities for the year. the Trustees continue to give careful consideration to the Charity Commission for Northem Ireland's guidance on public benefit to ensure that the activities have helped to achieve the charitys purposes and provide a benefit to the beneficiaries. Page 2
Camerata Ireland Trustees. Report Public benefit Camerata Ireland's activities benefit the Northern Ireland public by offering high quality classical chamber music events during its annual Clandeboye Festival at a range of accessible prices. The Camerata Ireland chamber orchestra benefits the young, emerging musicians, from across the island of Ireland, who get the opportunity to perfomi with established musicians and visiting internationally acclaimed soloists. Established musicians from across the island of Ireland get the opportunity to work with internationally acclaimed soloists and bring their talents to a wider audience on both sides of the border. Music students benefil from the Clandeboye Festival Academy programrne through which they receive free masterclasses wth visiting international soloists, as well as the opportunity to showcase their talents in performance. Many of the music students benefit from ongoing opportunities to perform with Camerata Ireland. Camerata Ireland's educational project work benefits children. young people, their families and wider communities by bringing high quality classical music performances to disadvantaged areas. Camerata Ireland's international touring activities raise awareness internationally of the high standard of classical musicianship across the island of Ireland. It also helps to develop the careers of the emerging and estsblished musicians who perform with the orchestra. The benefits from Camerata Ireland's activities can be demonstrated through the ongoing popularity of the Clandeboye Festival and invitations to the orchestra to perfomi internationally. Many of the music students who have participated in the Clandeboye Festival Academy have gone on to develop professional careers in music. an outstanding example of whom is the pianist Michael McHale. One of Camerata Ireland's most recent education projects Harmony North involved 9 post-primary schools in North Belfast and culminated in a performance at the Kennedy Centre in Washington to mark the anniversaries of the Battle of the Somme and the 1916 Easter Rising. The charity benefits the following Northern Ireland public including young emerging classical musicians and established classical musicians from across the island of Ireland. Students, children, young people, their families and wider communities in disadvantaged areas of Northern Ireland. The wider classical music wodd across the island of Ireland International audiences for classical music emanating from the island of Ireland. Page 3
Camerata Ireland Trustees. Report Achievements and performance 2023-24 was a year of recovery and renewal for Camerata Ireland, following the downturn in activity and audiences that had occurred due to the Covid-19 pandemic. The season also marked 25 years since the orchestra was founded by Barry Douglas in response to the Good Friday Agreement, and, fittingly, coincided with the relaunching of the orchestra's international touring programme. The first concert of the season was a highly successful and well-attended concert in the National Concert Hall, Dublin in June 2023, continuing the orchestra's residency at this great venue. The 22nd Clandeboye Festival took Pla in August 2023, with 13 concerts taking place over 8 days in the Clandeboye Estate, Co. Down. The festival was a great success, celebrating, as always, the very best of international and home-grown talent, and with a significant increase in audience numbers compared to the previous year. Camerata Ireland perfonned at 2 concerts during the festival, both of which were recorded for a later broadcast on Classic FM. The Camerata Ireland Academy- Camerata Ireland's young artist development programme - returned as a live residential course for the first time since before the pandemic with 11 students taking part in master-classes and rehearsals, and perfonning at the Young Musician's Showcase. The young musicians were awarded bursaries supported by the Dufferin Foundation and Flax Trust. The orchestra's anniversary celebrations commenced in February 2024 with the launch of a concert series at the National Concert Hall. Dublin Camerata 25 at NCH with two further concerts scheduled to take place later in the year. This was followed by a 3-concert US Tour in March, with performances in Manasses VA, Troy NY and New York's Carnegie Hall. In March 2024, Camerata Ireland was honoured to receive a generous legacy from the estale of Dr Louise Rene Cooke. Dr Cooke was a music lover and longtime attendee of the Clandeboye Festival as well as having a prestigious career as a plant pathologist and academic. Trustees and officers The trustees and officers serving during the year and since the year end were as follows: Trustees- Michael Gerard D'Arcy Noreen Ann Wright Simon Taylor Kieran Richard Tobin Rosemary Margaret O'mahony Roger Alan Pollen Ms Julie Hastings (resigned 27 November 2023) Page 4
Camerata Ireland Trustees. Report Structure, governance and management The charity is governed by its Memorandum and Articles of Association. Camerata Ireland is a company limited by guarantee, as defined by the Companies Act 2006. The charity was registered with the Charities Commission Nl on 15 December 2017. Risk Management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Recruitment and appointment of trustees Trustees are recruited based on their experience and expertise. Financial review The legacy from Dr Cooke along wth a Gift Aid Claim for 2019-2023 resulted in a surplus of £44,623. The total funds at 31 March 2024 were £39,068. The trustees aCknoedged the positive impact of the legacy on Camerata Ireland, and agreed that this sum should be held in the organisation's reserve account. Policy on reserves The level of reserves held at 31 March 2024 was £39,068. It is the chariws policy to hold at least 6 months. running costs in reserve. Statement of trustees. responsibilities The trustees (who are also the directors of Camerata Ireland for the purposes of company law) are responsible for preparing the truslees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 Yhe Financial Reporling Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to= select suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial staternenls on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other iegUlarities. Page 5
Camerata Ireland Trustees. Report 10 Dec 2024 The annual reporl was approved by the trustees of ihe charity on behalf by- and signed on ils Kieran Richard Tobin Trustee Page 6
Camerata Ireland Independent Examiner's Report to the trustees of Camerata Ireland ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of Camerata Ireland (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act {Northem Ireland) 2008 (the '2008 Act.) and Companies Act 2006 ('the 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of Camerata Ireland are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 65 of the Charities Act (Northern Ireland) 2008 ('the 2008 Act'}. In carrying out my examination I have followed the Directions given by the Charity Commission for Northem Ireland under section 65{9)(b) of the 2008 Act. Independent examiner's statement I have completed my examination and have no concems in respect of the matters (1) to {4) listed below 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. 1. accounting records were not kept in respect of Camerata Ireland as required by section 386 of the 2006 Act., or 2. the accounts do not accord with those records" or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination: or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK an(i Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. L¥LA L4J Brian Stewart RBCA Limited Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG 12 Dec 2024 Date:............................. Page 7
Camerata Ireland Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds General Restricted funds Total 2024 Total 2023 Note Income and Endowments from: Donations and legacies Other Irading activities Other income 155.583 81,642 4.832 136.198 291,781 81,642 4,832 159,493 63,294 9,828 Total Income 242.057 136.198 378,255 232.615 Expenditure on: Raising funds Charitable activities (176,050) (21,384) {136,198) (312.248) (21,384) (222,572) (27,697) Total Expenditure (197.434) (136,198) (333.632) (250,269) Net incomel(expenditure) 44,623 44,623 (17.654) Net movement in funds 44.623 44,623 (17,654) Reconciliation of funds Total funds brought forward (5,555) 39,068 (5,555) 39,068 12,099 Total funds carried forward 14 5,555 All of the charity's activities derive from continuing operations during the above periods. The funds breakdown for 2023 is shovln in note 14. The notes on pages 10 to 17 fonn an integral part of these financial statements. Page 8
Camerata Ireland (Registration number: N1035573) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets 1,565 2,086 Current assets Debtors Cash at bank and in hand 12 128,454 85 26,816 88 128,539 26.904 Creditors: Amounts falling due within one year 13 91,036 34.545 Net current asselsl(liabilities) 37,503 7.641 Net assetsl(liabilities) 39,068 {5,555) Funds of the charity: Unrestricted income funds Unrestricted funds 39,068 5,555) Total funds 14 39,068 5,555) For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 10 De{lAlanCIal statements on pages 8 to 17 were approved by the trustees. and authorised for issue on and signed on their behalf by: Kieran Richard Tobin Trustee The notes on pages 10 to 17 form an integral part of these financial statements. Page 9
Camerata Ireland Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charity status The charity is limited by guarantee, incorporated in Northem Ireland, and consequently does nol have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is= The Courtyard Clandeboye Estate Bangor County Down BT191RN 2 Accounting policies Statement of compliance 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 and Republic of Ireland (FRS 1021} (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation Camerata Ireland meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The financial statements are prepared in sterfing. which is the functional currency of the entity. The level of rounding is to the nearest £ Sterling. Going concern The financial statements have been prepared on a going concern basis. Exemption from preparing a cash flow statement The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Income and endowments All income is recognised once the charity has entitlement to the income. it is probable that the income will be received and the amount of the income receivable can be measured reliably. Page 10
Camerata Ireland Notes to the Financial Statements for the Year Ended 31 March 2024 Grants receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is reqUId and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources. wth ntral staff costs allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raising funds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. for example, allocating property costs by floor areas. or per capita, staff costs by the time spent and other costs by their usage. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets costing £49.055 or more are initially recorded at cost. less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation. less any estimated residual value. over their expected useful economic life as follows: Asset class Fixtures & Fittings Depreciation method and rate 25°/o on Reducing balance method Page 11
Camerata Ireland Notes to the Financial Statements for the Year Ended 31 March 2024 Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method. less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer setllement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least iwelve months after the reporting date. they are presenled as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. 3 Income from donations and legacies Unrestricted Restricted Total Total Funds Funds 2024 2023 Donations 38,871 30.212 38,871 30,212 100,079 24,927 11.192 86,500 24,358 Legacies Grants - ACNI 100.079 24,927 11,192 94,454 5,681 Granls - Culture Ireland Grants - Other Sponsorship 86.500 35,000 155,583 136,198 291.781 159,493 Page 12
Camerata Ireland Notes to the Financial Statements for the Year Ended 31 March 2024 4 Income from other trading activities Unrestricted funds General Total funds Total 2023 Events income. Concert receipts 81.642 81,642 63,294 81.642 81,642 63,294 5 Expenditure on raising funds a) Costs of trading activities Unrestricted funds General Restricted funds Total 2024 Total 2023 Note Concert costs 176.050 136.198 312,248 222,572 176,050 136.198 312,248 222,572 6 Expenditure on charitable activities Unrestricted funds General Total 2024 Total 2023 Note Allocated support costs 21.384 21,384 27.697 7 Trustees remuneration and expenses Payments of £6.750 {2023 :£3.970} were made to Mr M G D'Arcy. a trustee of the company, during the year in respect of professional ServIS provided to the company. Page 13
Camerata Ireland Notes to the Financial Statements for the Year Ended 31 March 2024 8 Staff costs The aggregate payroll costs were as foll0v. 2024 2023 Wages and salaries Pension cost 32,000 960 17,762 400 32,960 18,162 The monthly average number of persons (including senior management I leadership team) employed by the charity during the year expressed as full time equivalents was as follows.. 2024 2023 No Employees No employee received emoluments of more than £60,000 during the year. Page 14
Camerata Ireland Notes to the Financial Statements for the Year Ended 31 March 2024 9 Independent examinerfs remuneration Independent Examination fee for the year is £1,700 (2023- £1,600). 10 Taxation The charity is a registered charity and is therefore exempt from taxation. 11 Tangible fixed assets Furniture and equipment Total Cost At 1 April 2023 49,056 49,056 At 31 March 2024 49.056 49,056 Depreciation At 1 April 2023 Charge for the year 46,970 521 46,970 521 At 31 March 2024 47.491 47,491 Net book value At 31 March 2024 1,565 1,565 At 31 March 2023 2,086 2,086 12 Debtors 2024 2023 Trade debtors Prepayments 30,694 97,760 17,999 8,817 128,454 26,816 Page 15
Camerata Ireland Notes to the Financial Statements for the Year Ended 31 March 2024 13 Creditors: amounts falling due within one year 2024 2023 Bank overdraft Trade creditors Other taxation and social security Other creditors 56,926 976 3,161 29,973 17,709 2,883 8,506 5,447 91,036 34.545 The bank overdraft is secured by a floating charge over the assets of the charity. 14 Funds Balance at 1 April 2023 Incoming resources Resources expended Balance at 31 March 2024 Unrestricted funds General (5,555) 242,057 {197,434} 39,068 Restricted funds 136.198 (136,198) Total funds (5,555) 378,255 (333.632) 39.068 Balance at 1 April 2022 Incoming resources Resources expended Balance at 31 March 2023 Unrestricted funds General 12.099 132.480 (150.134) (100.135) (5,555) Restricted funds 100,135 Total funds 12,099 232.615 (250,269) {5,555) The specific purposes for which the funds are to be applied are as follows: ACNI grant income of £100,079 was restricted to core costs and program costs. Culture Ireland income of £24,927 was restricted to the costs in relation to the US tour. Ards and North Down grant income of £6.192 was restricted to Clandeboye Festival 2024. AIDF grant income of £5.000 was restricted to the costs in relation to the US tour. Page 16
Camerata Ireland Notes to the Financial Statements for the Year Ended 31 March 2024 15 Analysis of net assets between funds Unrestricted funds General Total funds at 31 March 2024 Tangible fixed assets Current assets Current liabilities 1,565 128,539 (91,036) 1,565 128.539 (91,036) Total net assets 39,068 39.068 Unrestricted funds General Total funds at 31 March 2023 Tangible fixed assets Current assets Current liabilities 2,086 26,904 {34,545) 2,086 26.904 (34,545) Total net assets {5,555) {5.555) Page 17