INVERNESS SYMPHONY ORCHESTRA FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 SCOTT15H CHARITY NUMBER: SC047808 INVERNESS SYMPHONY ORCHESTRA INFORMATION (AT DATE OF SIGNING REPORTI SCOTTISH CHARITY NUMBER SC047808 COMMITTEE Sue Ll8htman- Chair Paul Wllson - Treasurer Catharine McKav Sharen Kingham Davld Cushman Susanna Leslie Mark 05borne Aki Maruyama Leggett Janet Wardle CHARITY'S PRINCIPAL ADDRESS Carn Mhor Blackpark Inverness IV3 8PW SECRETARY Pavl Wilson FCCA 9 Harris Road Inverness IV2 3LS TREASURER Paul Wilson FCCA 9 Harris Road Inverness IV2 3LS BANKERS Barclays Bank PIC Edinburgh 3 Leice5tershlre LE87 2BB INDEPENDENT EXAMINER Rhona Wilson BA FCCA 17 Holm Oell Drlve Inverness IV2 4GX INVERNESS SYMPHONY ORCHESTRA MANAGEMENTCOMMITTEE REPORT FOR THE YEAR ENDED 31 ocfoBER 2025 The management committee, who are also trustees, present the financial statements for the year ended 31 October 2025. stru¢turei governance and management The Orchestra was registered on 9 October 2017 as The Ness Sinfonia and subsequently n4 changed it5 name to Inverne55 Symphony Orchestra on 22 January 2024 In recognitlon of Its continued 8rowth. Inverness Symphony Orchestra Is a recoBnised charity, Charity Number SC047808. The charlty is governed by its constitution and managed by its Management Commlttee. The committee members who seNed durln8 the year were as follows: Sue Ll8htman- Chalrperson Paul Wilson Treasurer Catharlne McKay Sharen Kingham David Cushman Susanna Leslle Maggie Broad IRetired 19 November 20251 Mark Osborne Akl Maruyama Leggett Janet Wardle (Appointed 24" February 20251 Re¢rultment and appolntment of trustees All of the trustees are appointed or re-appolnted by the members at our annual general meetlng. Gov¢rnlng document Inverne55 Symphony Orchestra Is a charltable incorporated organlsatSon and the purposes and adminlstration arrangements are set out in our constitution. Responslbllltles of the trustees The trustees are responsible for the strateglc direction, governance and for keeplng proper accounting record5 that disc105e with reasonable accuracy at any time the financial positlon of the charity. They also manage the day-to-day runnin8 of the charity. To facilitate the effectlvene55 of the charity* some tru5tee5 hold a role which contributes to operations Including flnance, administration and pro8ramme related activltles. The accounts are prepared In accordance with the terms of the Charities and Trustee Investment Iscotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006 as amended. It Is also the trustee's responsiblllty to ensure the asset5 of the charlty are safeguarded, taking Pfeventative measures for the detection of Irre8ularitie5 and fraud, INVERNESS SYMPHONY ORCHESTRA MANAGEMENTCOMMIThEE REPORT {CONTINUEDI FOR THE YEAR ENDED 31 ocfoBER 2025 Rl$k management The trustees have a duty to Identify, assess. act on and revlew the risk to whSch the charlty is exposed and ensure appropriate systems are In place to provide reasonable assurances to mitigate exposure to major risks. Charltable purposes The principal object of the charity as recorded In our constltution is to maintain, Smprove and advance the education of the publlc in the art of the science of music, in partlcular, orchestral music, in (but not excluslvelyl the Hlghlands of Scotland. Revlew of ActlvStle$ Actlvltles contlnued wlth weekly term-tlme rehearsals and successful, well attended concerts In Inverness at the conclusion of the Autumn, Spring and Summer term5. Membership numbers grew once a8ain during the year with a regular attendance of 60+ musicians in the orchestra now being the norm. Spln off ensembles of orchestra members collaboratln8 wlth other muslcal groups in the Inverness area continue to be very well supported. These well-attended event5 are a valuable addltlon to the charltable activities of the orchestra and further ralse awareness In the running of successful music making opportunlties In the local communitv. Plans for the fvture Events and opportunitles will contlnue to be developed to keep raising the awareness of classical music withln the local community, FID•nclal revlew As shown in the ￿ceIptS and payment5 Statement, the charity made a surplus of £8,808 for the year12024 - Surplus £6,678). At 31 October 2025, the balance of funds held in the bank account was £26,00612024 - £17,198). Reserves The Management Committee are of the opinion that formally benchmarkin8 a specific target level of reserves is not wholly appropriate f¢Jr the charity and its a¢tlvities. In the opinion of the Management Committee, the assets of the charlty are adequate to fulfll Its objectives. INVERNESS SYMPHONY ORCHESTRA MANAGEMENTCOMMITTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCT08ER 2025 Donated 5ervlces There were no donated facilities or services in the year ended 31 October 2025. Slgned on behalf of the committee members: Sue Llghtmin Date., 4th May 2026 INVERNESS SYMPHONY ORCHESTRA INDEPENDENT EXAMINERSREPORT I report on the accounts of the charlty for the year ended 31 Ortober 2025 whlch Comprlse a statement of receipt5 and payments, statement of balances and the related notes. Use olmyreport Thls report is made solely to the charitls trustee5, as a body, In accordance wSth Section 44 of the Charltie5 and Trustee Investmènt (Scotlandl Act 2005. My exarnlnatlon has been undertaken so that I mlght state to the ¢harit¢s trustees those matters l am required to state to them In an lfidependent examlner's report and for no other purpose. To the fullest extent permltted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustee5 as a body, for my examlnation, for the report, or for the opinion5 1 have formed. Respectlve responslbllltles of trustee5 and Independentexamlner The charitrfs trustees are responslble for the preparatlon of the accounts In accordance wlth the lerms of the Charities and Trustee Investment (Scotlandl Act 2005 arbd the Charilles Accounts (Scotlandl Re8ulatlon5 2006 las amendedl. The charity Iru5tees conslder that the audit requlrement of Regulatlon 10111 Idl of the Accounts Regulatlons does not apply. It is rny respon5Iblllty to examlne the account5 as requlred under sectlon 44111 Icl of the Act and to s(ate whether partlcular matters have come to mv attentlon. Basls of Independent examlnee5 Statement My examlnotion Is carried out In accordance with Regulatlon 11 of the Charltles Accounts Iscollandl Re8ulatlon$ 2006 las arnendedl. An examinatlon include5 a review of the accountlng records kept by the charlty and a cornparlson of the accounts presented with those record5. It also Include5 consideratlon of any unusual Items or dlsclosures In the accounts and seeks eMplan8tlon5 from the trustees concernin8 such matters. The procedures undertaken do not provl(le all the evldence that would be requlred In an audlt, and consequently I do not express an audlt oplnlon on the vlew glven by the accounts. Independentexamlner'5 Statement In Ihe course of rny examlnation, no matter has come to my attentlon.. al whlch glves mè reasonable cause to belleve thal In any materlal respect the requlrements.. to keep accountlng record5 in accordance wlth section 4411llal of the 2005 Act and Regulallon 4 of the 2006 Accounts Regulatlons as amended, and to prepare accounts whlch accord wlth the accounting records and comply wlth Re8ulatlon 9 of the 2006 Accounts re8ulatlons as amended have not boen met, or bl to which In rny oplnlan, attentlon should be drawn In order to enable a proper understandin8 of the accounts to be reached Date.. 4, May 2026 NBme- Professlonal quallficatlon: Address.. Rhona Wilson BA FCCA thartered Certlfled Accountant 17 Holm Dell Drlve, Inverness, IV2 4GX INVERNESS SYMPHONY ORCHESTRA STATEMENTOF RECEIPTSAND PAYMENTS FOR THE YEAR ENDED 31 ocfoBER 2025 2025 2024 RECEIPTS RECEIPTS FROM CHARITABLE AcnvinES Concert Recelpts Sub5¢rlptlons Glft Ald Recovered 4,736 17,337 3,585 3.140 12,29S 4.347 25.658 19,782 RECEIPTS FROM FUNDRAISING Spon50rship Donatlons, Grants & Sundry Income 1,75S 1,072 2,827 Total Recelpts PAYMENTS COST OF CHARITABLE AcnviTIES Professional Feès Venue & Performance Costs Instrument & Muslc Purchase Adml nlstratlve & Governance 12,171 2,634 11,080 1,790 2,045 3,061 Total Payments SURPLus/IDEFICIT) FOR TrIE YEAR J I funds a re unrestrlcted (Note 21 INVERNESS SYMPHONY ORCHESTRA STATEMENT OF BALANCES AT 31 OCTOBER 2025 2025 2024 BANK Openlng Balance 17,198 10,520 Surplus Ioeflcitl for the year 8,808 6,678 Closln8 bank balance DONATED & OThER ASSETS 6.025 6,025 UNRESTRICTED FUNDS The flnancial statements were approved by the Management Committee on 4th May 2026 and were signed on thelr behalf by: Sue Ll8htman Trustee & Chllr Paul Wllson Trustee & Treasurer INVERNESS SYMPHONY ORCHESTRA NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCfOBER2025 I. ACCOUNTING POLICIES Basls of accountin8 The accounts have been prepared on the receipts and payments basls and In accordance wlth the Charlties & Trustee Investment (Scotlandl Act 2crfJ5 and the Charities Accounts Iscotlandl Regulatlons 2006 la5 amended). 2. FUNDS Unrestrlcted funds are those that may be used at ihe dlscretlon of the trustees In furtherance of the objects of the charity. The trustees maintain a single unrestricted fund for the day-to- day runnlnB of the charlty. There are no restrlcted funds. 3. TRUSTEE EXPENSES No expenses were paid on behalf of the trustee5 during the year12024- £NIII. 4. TRUSTEE REMUNERATION No trustee received remuneration durlng the year12024- £NIII In their capacity as trustee.