The trustees present their annual report and financial statements for the year ended 31 July 2023.
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 Charities Act 2011, 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).
The charity's objects are:
The promotion of education and training in music (in particular in the art of performance of orchestral music) for young people.
To educate the public in the art of music by promoting public performances, concerts and recitals.
The relief of unemployment in particular among young people and those studying music or training for a musical career.
Orchestra Europa is a pioneering UK-based organisation. Its aim is to change the lives of young people through the medium of classical music and to enhance the future of orchestral playing. Through combining performance opportunities and educational initiatives, Orchestra Europa nurtures new talent in a supportive and motivating environment.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year.
Aims of charity
The overarching aim of Orchestra Europa is to change the lives of young people through the medium of classical music. The core of its work is the inspiring and enriching of a future generation of audiences and players through furthering the learning and development of young musicians at the start of their careers.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity had minimal activity due to continued recovery from Covid.
Orchestra Europa is, above all else, dedicated to creating a future for classical music. We believe education is the single most effective way to achieve this. Our musicians are educators, whether they are performing in an educational broadcast, concert, or on tour. The priority is to re-understand the relationship between musician and listener.
As a direct response to the above mission statement we have developed the following three key programme areas:
Access
Through strategic partnership we engage with schools and educational authorities on a global scale. We promote the art of music making that utilises our fellows and associates as tutors. This in turn helps to create a continuous cycle of musical education, one that is sustainable indefinitely.
Youth
We support postgraduate musicians who are invited to spend up to three years as fellows or associates with the orchestra. Through performance opportunities we stretch their group playing skills alongside international artists. In addition our mentoring programme provides a valuable skills-exchange forum allowing our musicians to work with leading players from some of the world's greatest orchestras.
Orchestra
Our musicians are educators, whether they are performing in and educational broadcast, concert, or on tour. The priority is to re-understand the relationship between musician and listener, in doing so we disrupt the status quo.
We believe the above programme offers Orchestra Europa Limited exciting opportunities for future collaboration which in turn supports the overall aim in creating a future for classical music.
The Trustees' reserve policy is to achieve a position whereby the charity has reserves which equate to approximately 5% of the estimated annual budget to act as a contingency to cover and unforeseen expenditure. This has not been possible during the financial year end. However, we are actively working to achieve this position within the next year.
The charity continues to broaden its fundraising with continued support from trusts and foundations, a strong base of individuals and friends, and a small number of corporates who help with core funding and gifts in kind.
The unrestricted fund is in deficit at the year end. This is due to governance incurred exceeding the funds raised within the year. There has been some challenging years in terms of fundraising and as such the Trustees' took out a loan to cover future governance costs. The Trustees are confident that fundraising will return to normal within the next year.
The Trustees expect the charity to continue to educate and train young people in the art of orchestral music.
Due to Covid-19, the fundraising ability of the charity was impacted. As such the Trustees' took steps to cover short-term liabilities (including taking a loan to cover short term debts). We expect fundraising to increase within the next year allowing the charity to return to normal practice.
The charity is a company limited by guarantee.
Orchestra Europa is a company limited by guarantee and registered as a charity under the Charities Act. The charitable company is governed by its Memorandum and Articles of Association. Orchestra Europa was incorporated as a company on 17 July 2006 (registered company number 05877721 and registered by the Charity Commission on 12 September 2006 charity number 1116089).
The trustees, 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:
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The charity is committed to diversity in its makeup by recruiting Trustees with varied geographical, social, economic, environmental, business and cultural backgrounds and skills and by maintaining an age and gender balance.
At 31 July 2023 the charity has negative funds of £12,410 (2022 - £11,566). The charity is therefore reliant on the support of its trustees who have made donations to meet liabilities since the year end and have committed to continue to do so for the foreseeable future. Having made appropriate enquiries and considered future cashflows of the charity the trustees are not aware of any reasons why the charity will not be able to meet its liabilities as they fall due for the foreseeable future. As a result the trustees have continued to adopt the going concern basis of accounting.
The Trustees report was approved by the Board of Trustees.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Orchestra Europa Limited for the year ended 31 July 2023, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Orchestra Europa Limited and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Orchestra Europa Limited and the charity's trustees as a body, for our work or for this report.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Orchestra Europa Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 23 Nevill Street, Abergavenny, Monmouthshire, NP7 5AA.
The financial statements have been prepared in accordance with the Charities Act 2011, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At 31 July 2023 the charity has negative funds of £12,410 (2022 - £11,566). The charity is therefore reliant on the support of its trustees who have made donations to meet liabilities since the year end and have committed to continue to do so for the foreseeable future. Having made appropriate enquiries and considered future cashflows of the charity the trustees are not aware of any reasons why the charity will not be able to meet its liabilities as they fall due for the foreseeable future. As a result the trustees have continued to adopt the going concern basis of accounting.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Government grants are recognised under the accruals model in the periods to which the benefit of the grants relate.
Liabilities and related expenditure are recognised in full in the accounts as soon as obligation arises.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Insurance
Bank charges
The average monthly number of employees during the year was:
The remuneration of key management personnel is as follows.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
There were no disclosable related party transactions during the year (2022 - none).
The unrestricted fund was in deficit as at the year end, with a balance of £12,410 (2022 - £11,566).