CBSO Report Accounts 1617

2016-17
report and
accounts
Benjamin Ealovega
Supported by
cbso.co.uk
chair’s report
“this has once again been a year of

exceptional achievement, both on and off
the world’s concert stages”
It is with great pleasure that I am able to public money continues to be under great I would like to thank my fellow trustees, the
present to you the 2016-17 annual report of pressure this remains a significant challenge. musicians, staff and choruses, and everyone
the City of Birmingham Symphony Orchestra, Birmingham City Council’s financial difficulties else involved with the CBSO on your
my fifth year as Chair of the Trustees. have been widely reported and are well commitment and passion for this organisation. I
understood by all of us, but it remains am extremely grateful to all of you for your
It is clear from the pages that follow that this has disappointing that their grant towards the work support for everything that we do.
once again been a year of exceptional of the CBSO – which they have supported since
achievement, both on and off the world’s the Orchestra’s foundation in 1920 – is now, In particular this year I would like to pay tribute
concert stages. The appointment of Mirga after further cuts of 25% in each of 2016 and to Stephen Maddock’s exceptional 18 years of
Gražinytė-Tyla as Music Director, after our 2017, back at levels last seen in the 1980s. The service as our Chief Executive, which received
extensive world-wide search, is already paying Council’s financial contribution is now well much-deserved recognition when he was
off handsomely in memorable performances, below 10% of our total income, which is very awarded an OBE in the New Year’s Honours. The
great reviews and touring invitations. It is also low even by UK standards, never mind CBSO owes its current success in no small
helping us to attract some significant new international ones. We have been working hard measure to Stephen’s leadership.
donations, a vital priority for the Orchestra if we with the Council and other local partners,
are to maintain and enhance our artistic quality through the new Culture Central organisation,
and reputation as one of the best in the world. to come up with a better way of supporting
culture in this city and region. It may be that the
Indeed our fundraising for the year just ended new political landscape, with West Midlands
was yet again the highest in the CBSO’s history
Mayor Andy Street, can help find some new
at nearly £1.3m. It included some especially
solutions here.
generous multi-year gifts, such as that from the
Clive & Sylvia Richards Charity towards our work Bridget Blow CBE
On a national level, we are pleased to have been
with young people, as well as an increased draw Chair of Trustees
retained in Arts Council England’s National
from the endowment which is managed by the
Portfolio, albeit at the standstill level which
CBSO Development Trust. I would like to thank
means that our ACE funding will have been
all of our donors, funders and sponsors,
essentially flat (and thus significantly cut in real
including the CBSO Development Trust and its
terms) for more than a decade. Like everyone
chair Chris Loughran, for their continued
else we await with interest and no little anxiety
support for the Orchestra and its varied
activities, and also to thank Simon Fairclough the outcome of the government’s Brexit
and his Development team for their valuable negotiations: the orchestral world is
contribution. international (and specifically European) by its
very nature and any major limitations on our
Ticket income from our concerts in Birmingham ability to connect with artists and audiences
also reached an all-time high of nearly £2.4m, from outside the UK will have a big impact on
which is testament to the excellent work of our our work.
Marketing team under Abby Corfan’s direction
as well as to the impact of Mirga’s arrival. The Fortunately the new Orchestra Tax Relief
work of our choruses and education teams, scheme, introduced in 2016 by HMRC, is
under Lucy Galliard’s expert guidance, has also helping us balance the books in the meantime.
seen the CBSO bring great music – and the Thanks to the tireless work of Annmarie Wallis
chance to make music – to many more people and her Finance colleagues, we have kept a
in our schools and communities who would not tight grip on our budgets, enabling us to fulfil
otherwise be able to attend our concerts. the artistic and educational mission of the
charity while ensuring that we can hand the
All of this excellent work can only happen, and CBSO on to future generations – and enjoy our
at this level of excellence, if we keep our upcoming centenary in 2020 – in the best
finances under control, and at a time when possible shape.
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chief
executive’s
report
Upstream Photography
During the 12 months covered by the report next three years. A Radio 4 documentary about flew the flag for Birmingham in July at a special
which follows, there were a number of new her first year in the job was broadcast in July, weekend in Albert, northern France, to mark the
beginnings to be celebrated at the CBSO: our and a TV documentary is also in production. centenary of the Battle of the Somme.
first tour to China; the arrival of a number of Reaction to plans for her second season as
players to key positions in the Orchestra; our Music Director was also very positive when we Within the CBSO team there have been a few
first concerts at the splendidly redeveloped announced them in April. comings and goings, and we continue to
New Street Station; enthralling premieres of prioritise the filling of vacancies within the
new music by Hans Abrahamsen, John Luther But of course there were a great many other Orchestra as fast as we can while also
Adams, Daniel Kidane and others; and most things going on in 2016-17, including our two maintaining (and ideally improving) artistic
significantly of all, the first concerts with our themed seasons Our Shakespeare and The standards. All our musicians have worked
new Music Director Mirga Gražinytė-Tyla. Spirit of England. Highlights of the former tremendously hard last year, and I would like to
included a terrific concert of Romeo and Juliet record my thanks to them, as well as to the
Mirga’s first concerts in her new role could in versions by Tchaikovsky, Bernstein and equally industrious staff team who have helped
hardly have been more high profile: two sold- Prokofiev, as well as a memorable semi-staged us to another excellent year in financial terms as
out performances in August at home in account of Verdi’s final masterpiece Falstaff, well as artistically. My outstanding colleagues
Symphony Hall, then in London at the BBC conducted by our outgoing Principal Guest on the Senior Management Team have played a
Proms, with live radio and a TV broadcast the Conductor Edward Gardner. Our English theme significant part in these achievements, as has
next week. These concerts, an entirely in 2016-17 included a rare performance of the Board under Bridget’s watchful eye and our
characteristic mix of Mozart (the overture to Elgar’s sombre choral work that gave the series many volunteers. But my final word of thanks
The Magic Flute), a new work (the London its title, conducted by Nicholas Collon, and must go to the thousands of audience
premiere of Hans Abrahamsen’s let me tell you) three very varied music theatre works: Handel’s members, donors and sponsors whose
and a big symphony (Tchaikovsky’s Fourth) had Semele, Sullivan’s The Yeomen of the Guard enthusiastic support makes the CBSO the great
the national critics reaching for their and Holst’s Sāvitri. We also welcomed back institution that it is, and one which I am
superlatives, and featured on most people’s Mirga’s predecessor Andris Nelsons, gave a immensely proud to lead.
highlights list from last year’s Proms. Together concert alongside the British Paraorchestra,
with Mirga’s next concert in November (Haydn, celebrated the 25th birthday of our beloved
Serkšnytė and Mahler), they announced the Symphony Hall and played along to a live
arrival of a major conducting talent, and led to screening of Disney’s Frozen!
her being shortlisted for Royal Philharmonic
Society Music Awards in two categories. Further afield, CBSO ensembles took part in
four concerts at the BBC Proms, and the Stephen Maddock
The global interest in this new conductor- Orchestra and choruses appeared as usual at CBSO Chief Executive
orchestra relationship – which has further concert halls and festivals around the UK on a
cemented the CBSO’s near-legendary status in regular basis. The touring programme was also
identifying and nurturing young talent – shows ambitious: a seven-concert tour of Japan in June
no sign of abating any time soon. We have 2016 with Kazuki Yamada, and a five-concert
recently returned from our first international tour of China (including two concerts in
tour together – four concerts at major German Birmingham’s twin city of Guangzhou as well as
festivals – and I am currently working on plans visits to Shanghai and Beijing). In addition, the
for a further twelve tours with Mirga over the Youth Chorus and its conductor Julian Wilkins
“my final word of thanks must go to the

thousands of audience members, donors and
sponsors whose enthusiastic support makes
the CBSO the great institution that it is”
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CITY OF BIRMINGHAM SYMPHONY ORCHESTRA
CONTENTS
Page
Chair’s Report 2
Chief Executive’s Report 3
Report of the Trustees 5
Report of the Auditors 19
Statement of Financial Activities 20
Balance Sheet 21
Statement of cash flows 22
Accounting Policies 23
Notes to the Financial Statements 27
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REPORT OF THE TRUSTEES
for the year ended 31 March 2017
The trustees are pleased to present their report together with the financial statements of the charity for
the year ended 31 March 2017, which are also prepared to meet the requirements for a directors’ report
and accounts for Companies Act purposes.
OBJECTIVES AND ACTIVITIES
Principal Activity
The principal activity of the charity is to provide a wide access to music for audiences and participants,
within the West Midlands region and beyond, through its concert performances and its extensive
education and choral activities.
Mission and Objects
The mission of the charity is to offer musical excellence in performance and education, for the widest
possible audiences, covering a broad repertoire including new music, via a family of instrumental and
choral ensembles, led by a world class symphony orchestra, which act as ambassadors for Birmingham,
the West Midlands and the UK.
The objects of the charity, as stated in its memorandum and articles, are:
• To carry on, as a going concern, the undertaking of the orchestra known as the City of
Birmingham Symphony Orchestra.
• To promote, maintain or improve musical education and to encourage the arts of music, mime,
drama, singing and dancing.
• To undertake or assist in undertaking the organisation and management of bodies of musical
performers, performances involving the playing of music, lectures in the studies of music, other
educational activities connected with music and bodies of students or persons interested in
music in any part of the world.
• To promote education in or the appreciation or practice of music, or the production of musical
works, or the invention or improvement of musical instruments or of any means of reproducing
music, by financial or other inducements or awards.
Key Activities
The strategy employed to achieve the charity’s objectives is to undertake the key activities listed below.
• Promoting concerts in Birmingham as the resident orchestra at Symphony Hall, performing a

wide range of music, including evening and matinée subscription concerts, a series of lighter
symphonic repertoire on Friday nights, and schools’, family and early years concerts.
• Concert performances at other venues in the United Kingdom, including appearances at major
arts festivals.
• Concert performances around the world, acting as a cultural ambassador for the City of
Birmingham, the Midlands and the UK.
• Regular broadcasting work on radio and television and the release of CDs for a variety of
recording companies.
• An extensive education programme in schools and local communities, offering around 72,300
engagements each year, including a successful Youth Orchestra.
• Running three “unpaid professional” choruses, one each for adults, young people and children,
and one un-auditioned community choir, all of which perform with both the CBSO and other
musical groups.
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• Management of CBSO Centre, which is the Orchestra’s rehearsal and administrative home, but
also functions as a medium-scale performance venue, and stages a series of mainly lunchtime
chamber concerts by CBSO players as well as being let out to other arts organisations.
STRATEGIC REPORT
The Trustees of the Charity are pleased to approve the following Strategic Report in their capacity as
company directors.
Achievements and Performance
Overview
The Orchestra gave 119 (2016: 120) orchestral concerts during the year, reaching over 190,000 (2016:
183,000) audience members.
Our new music director Mirga Gražinytė-Tyla took up her position in August 2016 and under her direction
and with our many guest artists the Orchestra has enjoyed an exceptional year both artistically and
financially.
Artistically we received eighteen 5* reviews during the year, with widespread acclaim for the first concerts
with our new music director Mirga Gražinytė-Tyla, as well as for a range of our other concerts.
Financially we had another year of better-than-budget achievement. Ticket sales were ahead of budget,
helped by our new partnership with Classic FM and Mirga Gražinytė-Tyla’s appointment, whilst fundraised
income was 19% higher than in the previous year thanks to the continued generosity of the Orchestra’s
many supporters – individuals, companies and charitable trusts – whose annual gifts are vital for the
Orchestra’s ongoing sustainability.
We have benefited from new legislation that came into force on 1 April 2016 which enables orchestras to
claim a tax credit on expenditure incurred in putting on concerts both in the UK and overseas. This new
relief brings orchestras in line with other performing arts sectors and creative industries, and recognises
the significant contribution that they make to the economy.
Key to our artistic strength are our musicians and whilst we said goodbye to long-serving members David
Russell & Ian Ludford (Cello), Andrew Lane (Piccolo), Tom Millar (Double Bass) and Eugen Popescu (Viola)
we also welcomed six few faces: Toby Kearney (Principal Percussion & Timpani), Kate Suthers (Section
Leader 2nd violin), Hetty Snell (Principal Cello), Jeremy Bushell (Principal French Horn), Colette Overdijk
(Tutti 1st violin) and Anthony Alcock (Section Leader Double Bass).
Away from the platform our long-standing Chief Executive Stephen Maddock was awarded an OBE in the
New Year Honours’ list for Services to Music, particularly in the West Midlands. Simon Halsey our Chorus
Director was also made a Fellow of the Royal College of Music.
Birmingham Concerts
During the year the Orchestra performed 78 concerts in our orchestral home at Symphony Hall
Birmingham, where highlights included:
• Eight concerts with our new music director Mirga Gražinytė-Tyla, including symphonies by
Tchaikovsky, Haydn, Mahler and Beethoven, new music by Abrahamsen and Serkšnytė, and four
sold-out schools’ concerts for pupils in Key Stage 3.
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• A concert to mark the 25th birthday of Symphony Hall, conducted by Birmingham-born

conductor Jamie Phillips, and featuring a new commission by Birmingham-trained composer
Ryan Latimer.
• New music by Hans Abrahamsen (Left, alone), John Luther Adams (UK premiere of his Pulitzer
Prize-winning Become Ocean) and Breakbeat by Daniel Kidane, played by the CBSO Youth
Orchestra.
• Two performances of Disney’s Frozen: In Concert, presented in partnership with Symphony Hall.
• The latter stages of Our Shakespeare, which reached its climax in a semi-staged performance of
Verdi’s final opera Falstaff, conducted by our outgoing Principal Guest Conductor Edward
Gardner, and featuring the great Italian baritone Ambrogio Maestri in the title role.
• The return of our former Music Director Andris Nelsons, for a concert of Peter Maxwell Davies’
Trumpet Concerto and Bruckner’s Symphony No. 4.
• A series of concerts as part of our theme The Spirit of England, including orchestral rarities by
Walton, Elgar and Britten as well as operas by Handel (Semele), Holst (Savitri) and Sullivan (The
Yeomen of the Guard).
• An imaginative collaboration with the British Paraorchestra, featuring a new work by composer
Lloyd Coleman for a combined orchestra of musicians with disabilities plus the CBSO.
• Concerts in our popular Friday Night Classics series, including the music of Queen, a screening of
the silent movie Ben-Hur with live music by Carl Davis, two collaborations with Classic FM, and a
night with conductor and comedian Rainer Hersch.
Members of the Orchestra gave further performances at its rehearsal home, CBSO Centre, including:
• 15 Notelets concerts featuring small ensembles playing for children aged 0-5 and their families.
• 18 Centre Stage concerts of chamber music played by CBSO musicians as part of the Osborn
Chamber Music Programme.
• 4 sold-out Relaxed concerts for special schools pupils with a 10-piece CBSO Ensemble and young
learning-disabled actors from the Open Theatre Company.
We also gave a farewell concert at the Adrian Boult Hall before its demolition along with the rest of
Birmingham Conservatoire, three performances of Cold Calling: The Arctic Project (a co-commission with
Birmingham Rep) and two free performances at New Street Station with our Assistant Conductor
Jonathan Bloxham.
Other UK concerts
The Orchestra also performed 13 other concerts in the United Kingdom, which included:
• A televised BBC Proms concert with Mirga Gražinytė-Tyla (marking her London debut) and
soprano Barbara Hannigan, including the London premiere of Hans Abrahamsen’s Let me tell
you.
• A late-night Prom with American jazz saxophonist and composer Kamasi Washington, conducted
by Jules Buckley.
• A performance of Elgar’s The Dream of Gerontius at the Brighton Festival, with Edward Gardner
and the Brighton Festival Chorus.
• A concert of English music at the Newbury Spring Festival with mezzo Alice Coote and conductor
John Wilson.
• Concerts in Nottingham, Cheltenham, Malvern, Stoke, Leeds, Coventry and Reading.
Overseas Touring
The Orchestra made two overseas tours in 2016-17.
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In June/July 2016 the Orchestra made a seven-concert tour of Japan with conductor Kazuki Yamada and
soloists Hisako Kawamura (piano), Pieter Wispelwey (cello) and Kazuhito Yamane (violin). This featured
concerts in Kurashiki, Nagoya, Osaka, Yokohama, Yamagata, Niigata and at Tokyo’s famous Suntory Hall.
This was the Orchestra’s seventh visit to Japan, and as always the concerts were enthusiastically received
by capacity audiences.
The Orchestra also made its long-awaited first tour to China across the New Year period December 2016/
January 2017. We gave five concerts with conductor Vassily Sinaisky and soloist James Ehnes, in
Birmingham’s twin city Guangzhou (two concerts on 30 and 31 December), and in Changsha, Shanghai
and Beijing. The final concert, in Beijing’s magnificent National Centre for the Performing Arts, was
sponsored by the University of Birmingham and attended by a large group of UK and Chinese academics
invited by the University’s China Institute.
The Youth Chorus also made a short visit to Albert in northern France in July 2016, to give a concert (and
sing at a church service) as part of the commemorative events to mark the centenary of the Battle of the
Somme. They were joined by the Lord Mayor of Birmingham, Deputy Leader of Birmingham City Council, a
quartet of CBSO musicians and their conductor Julian Wilkins.
Broadcasting and Recording
Eight CBSO concerts were broadcast on BBC Radio 3 including a live relay of Mirga Gražinytė-Tyla’s August
2016 BBC Proms debut concert (which was also broadcast on BBC 4 TV).
The Orchestra also made its first ever CD recording for Deutsche Grammophon: Paganini’s Violin
Concerto No. 1 and the rarely-heard Violin Concerto by Wolf-Ferrari (Francesca Dego, violin, Daniele
Rustioni, conductor). In addition we worked with Sky Arts on Animal Symphony, a film looking at animals’
response to music, featuring a new commission from acclaimed British composer Nitin Sawhney.
Our Choruses
Our adult CBSO Chorus undertook two engagements with the BBC Philharmonic, including a performance
of Haydn’s Creation to open their 2016-17 season in Manchester.
The CBSO Youth Chorus had a very busy year, starting with a performance of Stravinsky’s Symphony of
Psalms, and Bernstein’s Chichester Psalms alongside the Hallé Youth Choir and the BBC Philharmonic at
the Bridgewater Hall, Manchester.
During August 2016 the CBSO Youth Chorus joined forces with the National Youth Orchestra of Great
Britain and Edward Gardner to give three performances of Holst’s The Planets, at Symphony Hall, Snape
Maltings and the Royal Albert Hall as part of the 2016 BBC Proms. This performance was also the first BBC
Prom to be streamed live throughout the world. The Youth Chorus recorded The Planets at Symphony
Hall for Chandos, and this recording was Classic FM’s disc of the week in November 2016.
In September 2016 the CBSO’s Chorus department again undertook the management of the BBC Proms
Youth Choir, with members of our Youth Chorus singing alongside choirs from the University of
Birmingham, University of Aberdeen, the National Youth Choir of Wales and a consortium of county
ensembles from the South East of England. This choir of over 250 young singers performed Verdi’s
Requiem on the penultimate night of the BBC Proms with the Orchestra of the Age of Enlightenment
under the baton of Marin Alsop, a performance that was shown live on BBC television.
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Learning & Participation Activities
The CBSO‘s extensive learning and engagement programme has many strands of activity, including
concerts for young audiences, work in primary, secondary and special schools across the region, a
dementia programme, projects supporting gifted and talented young musicians including the CBSO
Youth Orchestra, a partnership with Birmingham Conservatoire and a 200-strong community choir.
Within the year there were around 72,300 engagements with our Learning & Participation programme
from across the West Midlands.
Partnerships are key to the expansion of our learning & engagement programme and we will continue to
work closely with schools, the Music Education Hubs, higher education institutions and other relevant
bodies to develop and deliver projects which meet the needs of the communities we serve.
Highlights of the learning & engagement programme included:
• Our first Community Choirs Summer Showcase concert featuring CBSO Young Voices,
Handsworth Community Choir and our 200-strong SO Vocal choir at Town Hall Birmingham to a
near capacity audience.
• A new partnership with the Ninestiles Academy Trust involving seven schools (four primary and
three secondary) working with teams of CBSO musicians, a creative writer and a professional
composer to develop a new work combining songs and orchestral movements inspired by Holst’s
Planets Suite, which will be premiered at Symphony Hall in summer 2017.
• A new quartet in residence programme at Cheltenham Preparatory School and College to
support the development of young string players.
• We welcomed back CBSO Youth Orchestra alumnus, conductor Jamie Phillips, in February 2017
to give the world premiere of a CBSO commission, Breakbeat by Daniel Kidane, in addition to
Britten’s Piano Concerto with CBSO artist in residence Steven Osborne and Vaughan Williams’
magnificent Symphony No. 2 (A London Symphony).
• In January 2017 the CBSO’s music director Mirga Gražinytė-Tyla conducted four sold-out
concerts for Key Stage 3 pupils (11–14 year olds). Free tickets were available for Year 7 pupils
from Birmingham state schools thanks to funding from Services for Education as part of their
ongoing partnership with the CBSO through the Birmingham Music Education Hub.
• In November 2016 the CBSO was awarded a major grant from Youth Music, a national lottery
funder, to enable the development of our residency programme in three special schools in
Worcestershire, Birmingham and Solihull. This funding will not only provide ongoing activities for
the next two years, but will also enable the CBSO to train and support a larger pool of musicians
who are able to deliver creative projects for young people with severe learning and physical
disabilities.
• Our partnership with the Extra Care Charity continued, with older people living with dementia in
three different Extra Care Villages across Birmingham benefiting from regular music-making
activities with CBSO musicians.
• Throughout the year our schools packages have become increasingly popular, particularly the
Musical Storytimes Project for 3–5 year olds. We have delivered 40 sessions across 16 different
West Midlands Schools benefiting over 1,200 children.
• In September 2016 we began our Spirit of Birmingham project supported by Qatar Airways,
working with six primary schools, CBSO musicians and music theatre composer Eamonn O’Dwyer.
The children will be performing their new piece alongside a 10-piece CBSO ensemble in summer
2018 at Symphony Hall.
• Project Remix, the CBSO’s non-auditioned training orchestra, provided opportunities for 80
young instrumentalists from across the West Midlands to rehearse and perform alongside CBSO
musicians. This year’s ensemble was joined by singers from the Birmingham Ormiston Academy,
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and conducted by CBSO Assistant Conductor Jonathan Bloxham, to give a performance of

orchestral arrangements of pop songs written by Birmingham-based bands and artists.
Our volunteers
The charity relies on a significant number of volunteers who, as well as assisting with the stewarding of
events and performances at CBSO Centre, also support the administrative staff with marketing, research
and other duties.
All of our trustees act in a voluntary capacity. As well as fulfilling their Board duties they help with the
fundraising activities of the charity and offer support to the senior management team, staff and players.
Financial Review
Overall financial performance for the year, before the actuarial deficit on the Defined Benefit Pension
Scheme, was an operational surplus of £0.4m (2016: operational deficit of £0.1m). This was a good result
in a year planned largely without a full programme with our new Music Director and in which there were a
lower number of both UK and overseas engagements.
The year’s performance was significantly improved by the introduction of Orchestra Tax Relief without
which there would have been a loss. Whilst this is a very positive initiative, and one which will help the
CBSO to continue to deliver on its mission of providing world-class performances for the widest possible
audiences, it is important to note that Orchestra Tax Relief does not fully make up for the c40% cuts in
public funding that the CBSO has experienced over the past 10 years. With further reductions in public
funding likely in the future we still need to build our external incomes, with the support of all our
audiences, patrons and sponsors, as we look to secure our financial sustainability through the next 100
years.
Income for the year was £9m (2016: £8.6m). The principal funding sources of the charity in the year were:
• revenue grant income from Arts Council England of £2,180,983 (2016: £2,180,983) and from
Birmingham City Council of £882,482 (2016: £1,148,283). Whilst our Arts Council Grant was in
line with previous awards our City Council grant reflects a 23% reduction on that received in the
previous year with a further 25% reduction anticipated in the year ahead;
• almost £1.3m (2016: £1.08m) of sponsorship and donations received from trusts, individuals and
corporate supporters. This total included an element of a multi-year pledge from the Clive &
Sylvia Richards Charity towards the cost of the CBSO’s work with young people;
• £3.3m (2016: £3.6m) in ticket income for Symphony Hall concerts and fees from orchestral
touring;
• an estimated £0.8m (2016: £nil) in respect of an initial Orchestra Tax Relief claim;
• other earned income from charitable activities including our learning & engagement
programmes, grants from our separately held Endowment Fund and fees for use of our CBSO
Centre performance and office facilities.
A full analysis of expenditure on charitable activities is given in note 7. Total expenditure amounted to
£8.6m (2016: £8.7m).
There was a significant charge this year for our Defined Benefit Pension Scheme which results from the
impact of poor corporate bond yields and higher inflation forecasts on the value attributed to the
Scheme’s liabilities. The resulting £3.86m actuarial loss (2016: £0.009m actuarial gain), whilst measured
at a single point in time, does reflect the ongoing challenge that the Orchestra faces in meeting the
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future costs of this Scheme. The next triennial valuation of the scheme is due in April 2018 and this may
have consequences for future contribution levels.
Plans for future periods
As part of its ongoing sustainability planning and to support and inform its fundraising activities and public
funding grant applications the CBSO Board maintains a robust strategic business planning cycle to
support its artistic excellence, reach and financial sustainability.
The current planning cycle covers the period up to 2022 and includes the following key priorities:
• Maximising the benefit, both artistically and financially, from our relationship with our music
director Mirga Gražinytė-Tyla;
• Planning and delivering a great centenary year in 2020, with special concerts and events around
the world, in the community and online;
• Improving our financial position by growing annual income streams and building both our
General Reserve and Endowment Funds;
• Making the CBSO and its activities ever more reflective of the diversity of the West Midlands
through targeted concert, audience development and learning & engagement activities;
• Advocacy work with our public funders and other government agencies to secure the best deal
for the finances of arts organisations in the future.
Alongside this we will continue to deliver and plan an ambitious and exciting artistic programme, the
highlights of which include:
• Tours with Mirga Gražinytė-Tyla to the most prestigious venues and festivals worldwide, including
German festivals (July 2017), Dublin (August 2017), Lucerne (September 2017), Germany and
Belgium (November 2017), Hungary, Austria and Germany (April 2018), Europe (September and
November 2018), with further tours planned for 2019 onwards including Vienna, Spain, USA,
China and Japan;
• An exciting 2017-18 concert season which includes a large-scale festival to mark the centenary
of the death of Claude Debussy, plus further centenary tributes to Lili Boulanger and Leonard
Bernstein;
• Visits to all the major UK festivals including BBC Proms (six concerts in 2017 involving CBSO
forces), Aldeburgh, Cheltenham, Edinburgh, Lichfield, Norfolk & Norwich and Brighton;
• A collaboration with Birmingham Opera Company in 2019 for a large-scale opera production
conducted by Mirga Gražinytė-Tyla;
• A series of landmark commissions for our centenary seasons 2019-20 and 2020-21, comprising
pieces for the whole CBSO family and across the range of our concert strands;
• Chorus collaborations with choirs, orchestras and festivals in London, Manchester, Paris,
Barcelona and Sydney;
• An extension of our work with Birmingham partners including projects with Birmingham
Conservatoire (who move into their new purpose-built campus in September 2017), BCMG, Town
Hall Symphony Hall, Birmingham Opera, Ex Cathedra and Culture Central.
Fundraising Practices
In the context of reduced reliance on public funding, fundraising from the private sector is an increasingly
large element of the charity’s income stream, and is vital for the organisation’s ongoing sustainability.
The fundraising approach taken during the year was to solicit funds from individuals, companies and
charitable trusts. The charity is grateful to all those who contributed.
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Fundraising was carried out by the charity’s in-house development team, with a professional trusts
fundraiser retained on a freelance basis to offer cost-effective support in drafting applications and
ensuring a high standard of reporting. To monitor his performance, employees of the charity check and
send out all applications and reports, and regular meetings and conversations take place.
During the year the charity voluntarily subscribed to the new Fundraising Regulator and our contracts and
processes are currently being updated to ensure that all staff adhere to the fundraising standards set out
in the Regulator’s Code of Fundraising Practice.
During the year the charity received one complaint about its fundraising work, from a retired member of
the Orchestra who was sent information about the membership scheme in error. The charity apologised
and took immediate action to ensure former employees do not receive fundraising information in the
future.
Much of the Orchestra’s revenue comes from ticket buyers and donors whose relationships with the
charity have developed over several decades. The charity takes particular care to maintain these
relationships by avoiding being unreasonably persistent or placing undue pressure on potential donors to
give money. It:
• Places the value of ‘respect’ at the heart of its Fundraising Plan which is approved by the board of
trustees and informs the day-to-day work of the charity’s fundraisers. The plan states: ‘in our
fundraising work we will treat current and potential donors with respect, being polite and honest,
avoiding being overly aggressive, and being especially careful not to take advantage of donors in
vulnerable circumstances’;
• Ensures procedures and systems are in place to avoid making persistent direct marketing or face-
to-face requests of the same individual for support;
• Excludes individuals who have asked not to receive fundraising information from relevant
communications;
• Ensures a high proportion of the money required is in place before each financial year begins –
either through donations received or through expected renewals from regular supporters – thus
ensuring that communications with potential donors can take place without pressure to secure
an immediate gift.
Risk management
The trustees are aware of the need to assess the risks faced by the charity and respond in such a way as to
manage those risks appropriately. A risk register is maintained in which risks are scored for likelihood and
impact and appropriate risk management strategies are established. Individual senior managers and the
Audit & Risk committee are responsible for monitoring the register which is formally reviewed by the
Charity’s Board on a regular basis.
The trustees consider that the major risks facing the charity are:
• The likelihood of reduced income from public funders;

• The threat of reduced box office income;
• Underfunding of the (closed) CBSO Defined Benefit Pension Scheme;
• The loss of support from sponsors, trusts, foundations and individual donors;
• An increased legislatory environment.
A focus on the relevant key performance indicators (KPIs) and good relationships with our key funders,
Pension Scheme trustees and suppliers ensure that these major risks are constantly monitored and
appropriate corrective action taken.
12
In addition we have a strong system of internal control and comprehensive management reporting
processes which include:
• A robust strategic planning and annual budgeting system, which is approved and reviewed by the
Trustees.
• Regular reviews by the Trustees of quarterly and annual financial reports which monitor financial
performance against approved budget and forecasts.
• Consideration of all financial issues by the Audit & Risk committee and subsequent feedback to
the Trustees.
• A formal internal audit programme which covers the key risk areas on a three-year cycle.
• Formal limits on staff members’ ability to authorise expenditure.
• Segregation of duties amongst members of staff in so far as it is possible.
Reserves
In accordance with best practice and Charity Commission guidance the charity maintains free reserves in
order to provide for contingencies that may arise in the future. This is particularly necessary given the
current public funding landscape and its dependence on a number of variable income streams including a
substantial level of ticket sales. For the purposes of this policy the Trustees define free reserves to be the
General unrestricted reserve.
At 31 March 2017 total reserves were (£2,813,000) (2016: £613,000) of which £4,028,000 (2016:
£4,247,000) were restricted and (£6,841,000) (2016: (£3,634,000)) were unrestricted. Unrestricted
reserves are comprised of a General reserve of £1,202,000 (2016: £619,000) and a deficit of £8,043,000
(2016: £4,253,000) on the Pension reserve.
With the introduction of Orchestra Tax Relief the Trustees are pleased to be able to report an increase in
the level of General unrestricted reserve during the year, from £0.6m to £1.2m, but remain mindful of the
continued financial pressures in the years ahead. The trustees’ target for free reserves is to increase these
to a level which would allow them to withstand any fluctuations in trading conditions or, in extreme
circumstances, manage an orderly wind-down of the Orchestra’s activities. On this basis the trustees have
set a longer-term target for free reserves of between £2m to £2.5m and are committed to setting
budgets which will allow, given its current low base, reasonable progress to be achieved by March 2020.
The trustees will continue to review progress towards the achievement of its longer-term free reserves
target on a regular basis.
The recognition of the Defined Benefit Scheme pension liability under FRS102 has this year had a
significant effect on the reported unrestricted reserves of the Charity. This liability is updated annually to
reflect market conditions and other actuarial assumptions and in the year showed a £3.8m increase to
£8.04m (2016: £4.25m). Although this is a very significant change it does not mean that an immediate
liability for this amount becomes payable, nor that there will be any short-term cash flow impact for the
charity.
The most recent actuarial valuation of the Scheme was carried out as at 5 April 2015. This showed a slight
increase in the overall scheme deficit (to £4.8m) and a recovery plan, which included only a small increase
in the level of annual CBSO contribution whilst maintaining the end period of May 2034, was agreed with
the Scheme Trustees. Valuations are undertaken every three years and the next triennial actuarial
valuation is due as at 5 April 2018.
13
Investment Policy
The Charity’s stated objective is that the real value of the assets and the income derived from them be
maintained and enhanced over the long term by investment in cash and other suitable investments in
accordance with its future business plans and the annual budget that is approved by the Board of the
CBSO.
In order to meet these objectives the Trustees have appointed an investment adviser to manage its
portfolio of cash and other suitable investments on an advisory basis. In the context of guidance issued by
the Charity Commission, and following the appropriate assessments the Trustees of the CBSO have
instructed that the Charity’s investments should be managed on a medium-low risk basis.
The proportions of the Charity’s investments that are invested in cash, fixed income investments,
structured investment products, and other collectivised investment vehicles is reviewed with the
appointed investment adviser on a regular basis.
Public Funding and Going Concern
The Charity is supported by grant-aiding bodies. Revenue grant income from this source amounted to
£3,063,465 representing 34% (2016: 39%) of the Charity’s total income.
Grants from Arts Council England are agreed up to 31 March 2018, at levels consistent with those
currently received. In June 2017 CBSO’s status as a National Portfolio Organisation (NPO) was confirmed
for a further four years, covering the period April 2018–March 2022, at levels consistent with those
currently agreed. Whilst this is a conditional offer, which is subject to the completion of a formal funding
agreement and sufficient funds being made available from the National Lottery, it represents continued
support for the work of the orchestra and a recognition that it achieves a strong match with Arts Council
England’s mission of ‘Great arts and culture for everyone’.
Grants from Birmingham City Council have been agreed up to 31 March 2018 at a level of £0.7m. Whilst
this represents a further 25% reduction on the level of grant received in the year to 31 March 2017 this
was a better settlement than might have been expected and recognises the strategic importance of the
CBSO and its role as a high profile ambassador for the City. Following the establishment of the wider West
Midlands Combined Authority and the appointment of a regional mayor, Andy Street, the CBSO is
working with all parties and through the devolution agenda to improve its local public funding position.
Apart from its public funding, the CBSO has a broad range of other income sources including most
recently the introduction of Orchestra Tax Relief and it is not critically dependant on any other single
organisation for funding. A number of sponsorship and other funding agreements are in place which run
for more than two years after the balance sheet date. In addition to performances at Symphony Hall, a
significant number of engagements are confirmed for the twelve months ahead.
As the Charity has an improved and positive level of general reserves, a significant cash balance, the
benefit of Orchestra Tax Relief as well as other sources of income and the continued support of its major
funders and the CBSO Development Trust, the trustees consider the going concern basis to still be
appropriate for the preparation of these financial statements.
Public Benefit
In considering the strategies and policies of the Charity the trustees have had due regard to the public
benefit guidance published by the Charity Commission, in accordance with the Charities Act 2011.
14
Our latest Business Plan continues to champion education, learning and audience/community
engagement as key priorities and sets out appropriate strategies and activities to enable us to deliver
against our objectives in this area.
A key priority is increased diversity and participation in musical activities across Birmingham and the West
Midlands, ensuring that everyone in the region has the opportunity to experience our work, regardless of
age, background or financial means. This is also informed by the priorities of our key public funders;
Birmingham City Council and Arts Council England who have recently chosen Birmingham as the home
for a new and important piece of work around diversity in the arts.
We achieve this by:
• offering substantial discounts on the price of concert tickets for families, students, and school
children, and those in receipt of benefits.
• broadcasting our performances for free on radio and online, in partnership with BBC Radio 3 and
others.
• delivering a series of affordably-priced concerts specifically designed for families at Symphony Hall
and for toddlers at CBSO Centre.
• targeting our learning and engagement activity at schools and communities where there are limited
opportunities to get involved in cultural activity and where there are often multiple barriers to
participation.
• ensuring this participatory activity and our work with young musicians is free or heavily subsidised, to
ensure financial barriers are removed.
• working in partnership with a range of organisations, including the regional music services,
Performances Birmingham, Birmingham Conservatoire and the University of Birmingham to reach
more people.
• creating opportunities for people of all ages and backgrounds to perform in prestigious venues, often
with the Orchestra, including regular events at Symphony Hall and performances at the BBC Proms.
REFERENCE AND ADMINISTRATION DETAILS
Charity Registration number: 506276

Company Registration number: 1262018
Registered Office: CBSO Centre, Berkley Street, Birmingham, B1 2LF
Our advisers
Auditors RSM UK Audit LLP St Philips Point, Temple Row, Birmingham B2 5AF
Bankers HSBC Bank plc 130 New Street, Birmingham B2 4JU
Solicitors Shakespeare Martineau No. 1 Colmore Square, Birmingham B4 6AA
Insurance Brokers JLT Speciality Limited 3rd floor, 45 Church Street, Birmingham B3 2RT
The directors of the charitable company (the charity) are its trustees for the purpose of charity law.
The trustees and officers serving during the year and since the year end are as follows:
Trustees: Bridget Blow CBE # (Chair)

Patrick Verwer # (Deputy Chair)
Catherine Arlidge MBE (resigned 25 July 2016)
Julian Atkinson (resigned 5 July 2017)
Clive Bawden * (Trustee For Finance)
15
Cllr Sir Albert Bore (appointed 18 April 2017)

Cllr Randal Brew
Tony Davis (appointed 1 April 2016)
David Gregory (appointed 5 July 2017)
Cllr Matthew Gregson (resigned 13 November 2016)
Joe Godwin (appointed 1 April 2016)
Sir Dexter Hutt (resigned 17 July 2017)
Jane Jarvis #
John Osborn
Roger Pemberton #
Graham Sibley * (appointed 25 July 2016)
Peter Sinclair (resigned 30 September 2016)
Lucy Williams * (appointed 1 April 2016)
Chief Executive Stephen Maddock OBE
Company Secretary Annmarie Wallis Director of Finance
Other Senior Staff: Abby Corfan Director of Marketing & Digital

Simon Fairclough Director of Development
Lucy Galliard Director of Learning & Engagement
Zoe Poyser (until June 2017) Director of Concerts
Jenny Chadwick (from Director of Concerts
September 2017)
Senior Music Officers Mirga Gražinytė-Tyla Music Director

Simon Halsey CBE Chorus Director
#
* Member of Audit & Risk Committee Member of Nominations Committee
STRUCTURE, MANAGEMENT AND GOVERNANCE
Governing Document
City of Birmingham Symphony Orchestra (CBSO) is a company limited by guarantee governed by its
Articles of Association dated 23 July 2015. It is registered as a charity with the Charity Commission.
Anyone over the age of 18 can become a member, and there are currently 606 members, each of whom
agrees to contribute a sum not exceeding £1 in the event of the charity being wound up.
Organisation
The Board of Trustees administers the charity. The board meets around six times a year and there are
Board committees covering Remuneration, Nominations and Audit & Risk and an Artistic Forum. A Chief
Executive is appointed by the trustees and together with the other senior staff manages the day-to-day
operations of the charity.
16
Appointment of trustees
Most directors are appointed by the board, with reference to a skills audit, and on the recommendation of
the Nominations Committee. Members may put themselves forward for consideration by the
Nominations Committee. All trustees nominated through this process are subject to ratification by
members at the Annual General Meeting
There are four additional directors, two of whom are nominated by Birmingham City Council and two by
the players. Directors nominated in this way are not subject to members’ ratification.
Trustee induction and training
New trustees undergo a thorough induction to brief them on their legal obligations under charity and
company law, the content of the Articles of Association, the committee structure and decision-making
processes, and the mission, budget and financial performance of the charity. During the induction
process they meet key employees and other trustees. Throughout their terms trustees are provided with
regular updates on their duties as a trustee and general Charity governance. They are also encouraged to:
• broaden their understanding of the Charity’s activities by spending time with key staff, attending
concerts/other events and participating in project and other working groups;
• attend appropriate external training which will assist them in carrying out their duties.
Trustee Liability Insurance
The Charity holds Trustee Liability insurance on behalf of its Directors and Officers at a cost of £3,863
(2016: £3,740).
Pay policy for senior staff
The board of trustees and the senior management team comprise the key management personnel of the
Charity in charge of directing and controlling, running and operating the CBSO on a day-to-day basis. All
trustees give up their time freely and no trustee received remuneration or any expenses in the year.
Details of any trustee related party transactions are disclosed in note 19 to the accounts.
The pay of the senior management team is reviewed annually and normally increased in accordance with
the annual pay award made to all of the Charity’s other administrative staff in April of each year.
Benchmarking of salaries is carried out as required and adjustments made where necessary to ensure
parity with similar roles in the orchestral sector and/or comparable local organisations.
Trustees’ responsibilities in relation to the financial statements
The trustees (who are also directors of City of Birmingham Symphony Orchestra) are responsible for
preparing the Trustees' Report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which 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 the 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 then apply them consistently;

• observe the methods and principles in the Charities SORP;
17
• make judgments and estimates that are reasonable and prudent;

• prepare the financial statements 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 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 irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information
included on the charity’s website. Legislation in the United Kingdom governing the preparation and
dissemination of financial statements may differ from legislation in other jurisdictions.
Statement as to disclosure of information to auditors
The trustees who were in office on the date of approval of these financial statements have confirmed, as
far as they are aware, that there is no relevant audit information of which the auditors are unaware. Each
of the trustees has confirmed that they have taken all the steps that they ought to have taken as directors
in order to make themselves aware of any relevant audit information and to establish that it has been
communicated to the auditor.
Auditors
A resolution will be proposed at the Annual General Meeting that RSM UK Audit LLP be re-appointed as
auditors to the Charity for the ensuing year.
ACKNOWLEDGEMENTS
The Board of the CBSO would like to express its deep appreciation to the large number of people and
organisations that support the activities of the Orchestra. Primary amongst these are:
• CBSO’s major donors, benefactors, circle supporters, patrons and friends;

• The Orchestra’s corporate members and supporters;
• Trusts and Foundations which generously support all aspects of our work;
• The City of Birmingham Orchestral Endowment Fund;
• Members and supporters of the CBSO Development Trust
The board is also grateful for the vital ongoing support of the Orchestra’s public funders, Arts Council
England and Birmingham City Council.
The board is appreciative of the deep commitment of the Orchestra’s musicians, administrative staff and
volunteers who help to maintain its standing as a word-class orchestra.
This report, incorporating the Strategic Report, was approved by the trustees on 17 July 2017.
By order of the trustees

Bridget Blow CBE (Chair)
18
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS
OF CITY OF BIRMINGHAM SYMPHONY ORCHESTRA
Opinion on financial statements

We have audited the financial statements of City of Birmingham Symphony Orchestra (the ‘charitable company’) for
the year ended 31 March 2017 which comprise the Statement of Financial Activities, the Balance Sheet, the
Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 “The
Financial Reporting Standard applicable in the UK and Republic of Ireland”.
In our opinion the financial statements:

- give a true and fair view of the state of the charitable company’s affairs as at 31 March 2017 and of its incoming
resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
Scope of the audit of the financial statements

A description of the scope of an audit of financial statements is provided on the Financial Reporting Council’s website
at http://www.frc.org.uk/auditscopeukprivate
Opinion on other matter prescribed by the Companies Act 2006

In our opinion the information given in the Trustees’ Report and the incorporated Strategic Report for the financial
year for which the financial statements are prepared is consistent with the financial statements and, based on the
work undertaken in the course of our audit, the Trustees’ Report and the incorporated Strategic Report have been
prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified any material misstatements in the Trustees’ Report and the incorporated
Strategic Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to
you if, in our opinion:
• adequate accounting records have not been kept, or returns adequate for our audit have not been received
from branches not visited by us; or
• the financial statements are not in agreement with the accounting records and returns; or
• certain disclosures of trustees’ remuneration specified by law are not made; or
• we have not received all the information and explanations we require for our audit.
Respective responsibilities of trustees and auditor

As explained more fully in the Statement of Trustees’ responsibilities set out on page 17 the trustees (who are also
the directors of the charitable company for the purposes of company law) are responsible for the preparation of the
financial statements and for being satisfied that they give a true and fair view.
Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law
and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing
Practices Board’s (APB’s) Ethical Standards for Auditors.
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16
of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s
members those matters we are required to state to them in an auditor’s report and for no other purpose. To the
fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable
company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we
have formed.
MICHAEL HUGGINS (Senior Statutory Auditor)

For and on behalf of RSM UK AUDIT LLP, Statutory Auditor
Chartered Accountants
St Philips Point, Temple Row
Birmingham B2 5AF 17 July 2017
19
STATEMENT OF FINANCIAL ACTIVITIES
(including income and expenditure account)
Unrestricted Total Total

Funds Restricted Funds Funds
General Funds 2017 2016
Notes £’000 £’000 £’000 £’000
INCOME FROM:
Voluntary Income
- Donations & Legacies 2 836 459 1,295 1,082
- Grant Income 3 3,064 - 3,064 3,390
Charitable Activities 4 4,480 163 4,643 4,160
Investments 5 2 - 2 2
Other 6 2 - 2 -
TOTAL 8,384 622 9,006 8,634
EXPENDITURE ON:
Raising Funds 7 311 10 321 293
Charitable Activities 7 7,635 612 8,247 8,443
TOTAL 7,946 622 8,568 8,736
NET INCOME/(EXPENDITURE) FOR THE YEAR 9 438 - 438 (102)
Transfers between funds 15 219 (219) - -
Other recognised (losses)/gains:

Actuarial (loss)/gain on defined benefit pension 14 (3,864) - (3,864) 9
scheme
NET MOVEMENT IN FUNDS (3,207) (219) (3,426) (93)
RECONCILIATION OF FUNDS
Fund balances brought forward (3,634) 4,247 613 706
FUND BALANCES CARRIED FORWARD (6,841) 4,028 (2,813) 613
All income and expenditure and the resulting net movement in funds arise from continuing operations.
There are no recognised gains or losses other than the net movement in funds for the year.
20
BALANCE SHEET
31 March 2017 Company Registration No. 01262018
Notes 2017 2017 2016 2016

£’000 £’000 £’000 £’000
FIXED ASSETS
Tangible assets 11 4,114 4,325
CURRENT ASSETS
Stock 1 3
Debtors 12 1,529 671
Cash at bank and in hand 941 1,062
2,471 1,736
CREDITORS: Amounts falling due within one year 13 (1,355) (1,195)
NET CURRENT ASSETS 1,116 541
NET ASSETS excluding Pension Liability 5,230 4,866
DEFINED BENEFIT PENSION SCHEME LIABILITY 14 (8,043) (4,253)
TOTAL NET (LIABILITIES)/ASSETS (2,813) 613
THE FUNDS OF THE CHARITY
RESTRICTED FUNDS 15 4,028 4,247
UNRESTRICTED FUNDS:
General reserve 16 1,202 619
Pension reserve 16 (8,043) (4,253)
GENERAL RESERVE including Pension reserve (6,841) (3,634)
TOTAL FUNDS (2,813) 613
The financial statements on pages 20 to 38 were approved by the board of directors and authorised for issue on 17
July 2017 and are signed on its behalf by:
Bridget Blow
Trustee
Clive Bawden
Trustee
21
STATEMENT OF CASH FLOWS
For the year ended 31 March 2017
2017 2016
£’000 £’000
Cash flows from operating activities:

Cash used in operating activities (87) (6)
Cash flows from investing activities:

Interest receivable 2 2
Proceeds from sale of property, plant and equipment - 5
Purchase of property, plant and equipment (36) (95)
Net cash used in investing activities (34) (88)
Change in cash and cash equivalents in the year (121) (94)

Cash and cash equivalents at the beginning of the year 1,062 1,156
Cash and cash equivalents at the end of the year 941 1,062
Reconciliation of net income/(expenditure) to net cash flow

from operating activities
Net income/(expenditure) for the year 438 (102)

Interest receivable (2) (2)
Depreciation charges 247 253
Defined Benefit Pension Scheme (74) (69)
Decrease in stocks 2 23
Increase in debtors (858) (19)
Increase/(decrease) in creditors 160 (90)
Net cash used in operating activities (87) (6)
Analysis of cash and cash equivalents
Total cash and cash equivalents 941 1,062
22
ACCOUNTING POLICIES
1. ACCOUNTING POLICIES
GENERAL INFORMATION
City of Birmingham Symphony Orchestra is a charitable company incorporated in England and does not have
share capital. The charity is governed by its Articles of Association.
The address of the Charity’s registered office is CBSO Centre, Berkley Street Birmingham, B1 2LF.
BASIS OF ACCOUNTING
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 102) (effective 1 January 2015) -
(Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102) and the Companies Act 2006.
City of Birmingham Symphony Orchestra 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.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
preparation of the financial statements are set out below:
BASES AND DEFINITION OF INCOME AND EXPENDITURE
Income:
• Income is stated net of value added tax and represents amounts invoiced to third parties and amounts
receivable from members and donors.
• Income relating to concert performances is credited to the income account when the concert has
been performed.
• Income received in respect of future periods is deferred until such time as the charity has entitlement.
• Gift aid donations are inclusive of recoverable income tax.
• Income from legacies is credited to the income account when the charity is legally entitled to the
income, the amount can be quantified with reasonable accuracy and receipt is probable.
• Grants of a revenue nature are credited to income in the period to which they relate.
• Grants of a capital nature are credited to a restricted fund account and to income over the useful
economic life of the asset in line with depreciation.
• Orchestra Tax Relief income is recognised based on a prudent estimate of the amount of qualifying
expenditure and applying the repayment rates set out in current HMRC legislation.
Interest receivable:
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the
charity; this is normally upon notification of the interest paid or payable by the bank.
Expenditure:
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it
is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure is classified under the following activity headings:
• Raising funds comprises fundraising costs, which are incurred in raising funds for the charity.
• Charitable activities includes expenditure on the maintenance of the orchestra, marketing and staging
concerts, broadcasting and recording, learning & engagement and activities at CBSO Centre.
23
ACCOUNTING POLICIES
Support Costs:
Support costs are those functions that assist the work of the charity but do not directly undertake charitable
activities. These costs have been allocated on a basis consistent with the use of the resources. The bases on
which support costs have been allocated are set out in note 8.
Donated services:
The value of services provided by volunteers has not been included in these financial statements.
Translation of foreign currencies:

Transactions denominated in foreign currencies are translated at the rate of exchange on the day the
transaction occurs. Assets and liabilities denominated in foreign currencies are translated at the exchange rate
ruling at the balance sheet date. Exchange differences are included in the statement of financial activities.
Irrecoverable VAT:
All expenditure is classified under activity headings that aggregate all costs related to that category.
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
TAXATION
The charitable activities of the company are not subject to taxation; therefore no provision for taxation is
required.
FUNCTIONAL CURRENCY
The financial statements are presented in sterling which is also the functional currency of the Charity.
FIXED ASSETS AND DEPRECIATION

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses. Depreciation is
provided on all tangible fixed assets, other than assets under the course of construction, at rates calculated to
write off the cost or valuation of each asset to its estimated residual value on a straight line basis over its
expected useful life, as follows:
Long term leasehold property 20 – 50 years

Technical, stage & musical equipment 5 – 20 years
Plant, fixtures, computers & motor vehicles 3 – 10 years
Works of Art 10 years
Individual assets under £1,000 are written off in full in the year of purchase.
FINANCIAL INSTRUMENTS
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured at their
settlement value.
STOCKS
Stocks, consisting of promotional items, are stated at the lower of cost and net realisable value. Net realisable
value is based upon estimated selling prices less costs of disposal. Provision is made for obsolete and slow
moving items.
TRADE DEBTORS
Trade and other debtors which are receivable within one year are initially recognised at the transaction price
and subsequently measured at amortised cost, being the transaction price less any amounts settled and any
impairment losses.
24
ACCOUNTING POLICIES
CASH AND BANK BALANCES

Cash and bank balances includes cash and short term highly liquid investments with a short maturity of three
months or less from the date of acquisition.
TRADE CREDITORS AND LIABILITIES

Trade creditors payable within one year are initially measured at the transaction price and subsequently
measured at amortised cost, being the transaction price less any amounts settled.
Liabilities are recognised when either a constructive or legal obligation exists.
FUND ACCOUNTING
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general
objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors.
The cost of raising and administering such funds are charged against the specific fund. The aim and use of
each restricted fund is set out in note 15 to the financial statements.
RETIREMENT BENEFITS
Defined contribution plans
For defined contribution schemes the amount charged to the Statement of Financial Activities is the
contributions payable in the year. Differences between contributions payable in the year and contributions
actually paid are shown as either accruals or prepayments.
Defined benefit plans

For defined benefit retirement plans, the cost of providing benefits is determined using the projected unit
credit method.
Asset/Liability
The net defined benefit liability represents the present value of the defined benefit obligation minus the fair
value of plan assets out of which obligations are to be settled. Any asset resulting from this calculation is
limited to the present value of available refunds or reductions in future contributions to the plan.
The rate used to discount the benefit obligations to their present value is based on market yields for high
quality corporate bonds with terms and currencies consistent with those of the benefit obligations
Gains/losses
Gains and losses are recognised in the Statement of Financial Activities.
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the charity’s accounting policies, which are described above, the Trustees are required to
make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not
readily apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revision affects only that period or
in the period of the revision and future periods if the revision affects both current and future periods.
The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next financial year are discussed below.
25
ACCOUNTING POLICIES
Defined Benefit Pension Scheme Actuarial assumption

The present value of the defined benefit pension scheme liability depends on a number of factors that are
determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net
cost for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 14,
will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects
results from the latest full actuarial valuation performed at 6 April 2015 has been used by the actuary in valuing
the pension’s liability at 31 March 2017. Any differences between the figures derived from the roll forward
approach and a full actuarial valuation would impact on the carrying amount of the pension liability.
Orchestra Tax Relief

The accrued income in respect of Orchestra Tax Relief depends on a number of factors that are determined by
management. The main assumption in this area is the amount of ‘qualifying expenditure’.
26
NOTES TO THE FINANCIAL STATEMENTS
2 DONATIONS AND LEGACIES

Year ended Year ended
31 March 2017 31 March 2016
£’000 £’000
Trusts 405 435

Donations, Membership and Legacies 736 531
Sponsorship 154 116
1,295 1,082
Income from donations and legacies was £1,295,000 (2016: £1,082,000) of which £836,000 was
unrestricted (2016: £741,000) and £459,000 was restricted (2016: £341,000).
3 GRANT INCOME
31 March 2017 31 March 2016
£’000 £’000
Arts Council England grant 2,181 2,181

Birmingham City Council grant 883 1,148
Other: Capital grant - 61
3,064 3,390
Arts Council England and Birmingham City Council grant income is wholly unrestricted.
Capital grant income, which is wholly restricted, relates to monies received from Arts Council England to
fund the refurbishment of CBSO Centre. Monies received in the financial year to 31 March 2016
represent the final retention payment payable one year after project completion.
4 INCOME FROM CHARITABLE ACTIVITIES

31 March 2017 31 March 2016
£’000 £’000
Birmingham Concerts and promotions 2,390 2,187

Other UK engagements 431 533
Overseas engagements 463 884
Broadcasting and recording 73 103
Learning & Engagement 354 349
CBSO Centre income 132 104
Orchestra Tax Relief 800 -
4,643 4,160
Income from charitable activities was £4,643,000 (2016: £4,160,000) of which £4,480,000 was
unrestricted (2016: £4,045,000) and £163,000 was restricted (2016: £115,000).
27
5 INVESTMENT INCOME
31 March 2017 31 March 2016
£’000 £’000
Interest receivable 2 2
Investment income is wholly unrestricted.
6 OTHER INCOME
31 March 2017 31 March 2016
£’000 £’000
Disposal of fixed assets 2 -
Other income is wholly unrestricted.
7 ANALYSIS OF TOTAL EXPENDITURE

Support &
Direct governance Total Total
Costs costs (note 8) 2017 2016
£’000 £’000 £’000 £’000
RAISING FUNDS:
Fundraising expenses 82 239 321 293
CHARITABLE ACTIVITIES:
Birmingham concerts and
promotions 4,154 650 4,804 4,573
Other UK engagements 607 133 740 758
Overseas engagements 894 138 1,032 1,439
Concert marketing and
advertising 271 406 677 674
Broadcasting and recording 102 37 139 140
Learning & Engagement 398 278 676 687
CBSO Centre 3 176 179 172
SUBTOTAL 6,429 1,818 8,247 8,443
TOTAL 6,511 2,057 8,568 8,736
Expenditure on raising funds was £321,000 (2016: £293,000) of which £311,000 was unrestricted
(2016: £278,000) and £10,000 was restricted (2016: £15,000).
Expenditure on charitable activities was £8,247,000 (2016: £8,443,000) of which £7,635,000 was
unrestricted (2016: £8,002,000) and £612,000 was restricted (2016: £441,000).
28
8 ANALYSIS OF SUPPORT AND GOVERNANCE COSTS
The Charity identifies the cost of its support functions and the costs which relate to the governance
function. These costs are apportioned between the activities of the Charity pro rata in line with the
value of usage. Staff costs have been allocated by time spent.
Support Governance Total Basis of

costs Costs 2017 apportionment
£’000 £’000 £’000
Salaries (including pensions) 995 119 1,114 Time spent

Rent, rates & service charge 92 - 92 Income
Maintenance, buildings & equipment 147 - 147 Income
Professional charges - 87 87 Governance
Depreciation 247 - 247 Income
General expenses 370 - 370 Income
1,851 206 2,057
9 NET INCOME/(EXPENDITURE) FOR THE YEAR

31 March 2017 31 March 2016
£’000 £’000
This is stated after charging:
Auditors remuneration
- for audit services 15 12
- for non-audit services 5 5
Depreciation of tangible fixed assets 247 253
10 STAFF COSTS & TRUSTEE REMUNERATION

31 March 2017 31 March 2016
£’000 £’000
Wages and salaries 3,480 3,480

Social security costs 333 322
Pension costs 91 91
3,904 3,893
Pensions costs are allocated to activities in proportion to the related staffing costs incurred and are
wholly charged to unrestricted funds.
29
10 STAFF COSTS & TRUSTEE REMUNERATION (Continued)
The average monthly number of full-time equivalent employees during the year were as follows:

31 March 2017 31 March 2016
No. No.
Senior Management 6 6
Other Office Staff 29 28
Orchestra 69 69
104 103
The number of employees whose emoluments, excluding pension contributions but including
benefits in kind, were in excess of £60,000 in the year ended 31 March was:
2017 2016
No. No.
£60,001 to £70,000 1 1
£90,001 to £100,000 - 1
£100,001 to £110,000 1 -
The employers’ contribution to the CBSO Group Stakeholder Plan for the above employees was
£2,400 (2016: £2,400).
The key management personnel of the charity comprise the Chief Executive and the Directors for
Finance, Development, Marketing & Digital, Concerts and Learning & Engagement. The total
compensation including national insurance and pension contributions payable to the key
management personnel of the charity was £376,308 (2016: £378,212).
The charity benefits greatly from the involvement and enthusiastic support of its many volunteers,
details of which are provided in our Trustee Report. In accordance with FRS102 and the Charities
SORP (FRS102), the economic contribution of general volunteers is not recognised in the accounts.
The Trustees who are members of the orchestra received salaries and other payments/benefits on
the same pay scale as those paid to other playing members in respect of their performance with the
orchestra. All other charity trustees were not paid or received any other benefits from employment
with the charity in the year (2016: £nil) neither were they reimbursed expenses during the year
(2016: £nil).
A trustee indemnity insurance premium of £3,863 (2016: £3,740) was paid in the year.
30
11 FIXED ASSETS
Plant,
Technical, fixtures,
Long term stage & computers
leasehold musical and motor
property equipment vehicles Works of Art Total
£’000 £’000 £’000 £ ‘000 £’000
COST
At 1 April 2016 4,717 1,088 784 18 6,607
Additions 23 9 4 - 36
At 31 March 2017 4,740 1,097 788 18 6,643
DEPRECIATION
At 1 April 2016 1,519 484 261 18 2,282
Charged in the year 111 51 85 - 247
At 31 March 2017 1,630 535 346 18 2,529
NET BOOK VALUE
At 31 March 2017 3,110 562 442 - 4,114
At 31 March 2016 3,198 604 523 - 4,325
On 15 May 2014, as a condition of the Arts Council England grant towards the refurbishment of CBSO
Centre, the Charity executed a 20 year legal charge over the building. This charge gives Arts Council
England a first legal mortgage over CBSO Centre up to an amount of the £1.32m grant award.
12 DEBTORS
2017 2016
£’000 £’000
Trade debtors 132 262

Other debtors 149 103
Prepayments and Accrued Income 1,248 306
1,529 671
Accrued income includes an estimate for an initial claim under the Orchestra Tax Relief legislation
of £800,000 (2016: £nil).
31
13 CREDITORS: Amounts falling due within one year
2017 2016
£’000 £’000
Trade creditors 515 590

Other creditors 37 156
Taxation and social security costs 103 2
Deferred income 351 183
Accruals 349 264
1,355 1,195
Deferred income:
2017 2016
£’000 £’000
At 1 April 2016 183 218

Amount deferred in year 351 183
Amount released to income
earned from charitable activities (183) (218)
At 31 March 2017 351 183
Deferred income consists of project specific amounts in respect of education and other charitable
activities, Chorus membership fees and rent invoiced in advance.
Included within other creditors is £28,080 (2016: £27,476) of unpaid pension contributions.
32
14 PENSION AND SIMILAR OBLIGATIONS
An approximate actuarial valuation of the Defined Benefit Scheme was carried out by a qualified
independent actuary as at 31 March 2017.
The major financial assumptions used by the actuary were:
2017 2016
Discount rate (% p.a) 2.70% 3.60%

Salary increase rate (% p.a) 2.00% 1.40%
Rate of revaluation in deferment (% p.a)
- CPI max 5% p.a 2.00% 1.40%
- CPI max 2.5% p.a 2.00% 1.40%
Pension increase rate (% p.a)
- RPI, capped at 5% p.a 3.25% 2.90%
- RPI, capped at 3% p.a 3.00% 2.90%
- RPI, capped at 2.5% p.a 2.50% 2.50%
- CPI, capped at 2.5% p.a Price 2.00% 1.40%
inflation rate (% p.a) 3.25% 2.90%
Consumer inflation rate (% p.a) 2.00% 1.40%
2017 2016
Years Years
Life expectancy at age 65:
Current pensioners - Men 22 22
Current pensioners - Women 24 24
Future pensioners now 40 - Men 23 23

Future pensioners now 40 - Women 25 26
Mortality table – pre and post retirement S2PA with S2PA with
CMI 2016 CMI 2014
1.00% 1.00%
At the balance sheet date the fair value of the assets of the Scheme was made up as follows:
2017 2016
£’000 £’000
Target Return Funds 11,597 11,463

Equities 2,034 1,637
Property 3,255 3,226
Bonds – UK index linked gilts 2,441 1,977
Bonds - Corporate 1,017 950
Cash - 89
Total 20,344 19,342
33
14 PENSION AND SIMILAR OBLIGATIONS (Continued)
Balance Sheet:
2017 2016
£’000 £’000
Present value of Scheme liabilities (28,387) (23,595)

Fair value of scheme assets 20,344 19,342
Deficit in Scheme (8,043) (4,253)
In addition the trustees held insured annuities. The value of these annuities has been excluded from the
assets and liabilities. Their inclusion would have a neutral effect on the deficit figure as the liability value
is exactly matched by the value of the insurance policy held.
The employer’s best estimate of company contributions to be paid in respect of the Scheme during the
financial year ending 31 March 2018 is £344,000.
The scheme does not invest in the employer’s own property or other assets.
Analysis of the amount charged to the Statement of Financial Activities

2017 2016
£’000 £’000
Interest on Scheme liabilities 834 849

Interest on Scheme assets (685) (702)
Administration costs 113 113
Amount charged to operating costs 262 260
Actuarial loss/(gain) on Scheme liabilities 4,824 (1,179)

Actual (gain)/loss on Scheme assets (960) 1,170
Total expense 4,126 251
Total return on Scheme assets 1,645 (468)
Changes in the present value of the defined benefit obligation are as follows:
2017 2016
£’000 £’000
Opening defined benefit obligation 23,595 24,610

Interest cost 834 849
Benefit paid (866) (685)
Actuarial loss/(gain) 4,824 (1,179)
Closing defined benefit obligation 28,387 23,595
34
14 PENSION AND SIMILAR OBLIGATIONS (Continued)
Changes in the fair value of scheme assets are as follows:

2017 2016
£’000 £’000
Opening scheme assets 19,342 20,279

Expected return on assets 685 702
Employer contributions 336 329
Benefits paid (866) (685)
Administration costs (113) (113)
Actuarial gain/(loss) 960 (1,170)
Closing scheme assets 20,344 19,342
2017 2016 2015 2014 2013

£’000 £’000 £’000 £’000 £’000
Experience arising on Scheme liabilities
Amount - (520) - - (800)
% of present value of funded obligations 0% (2.2%) 0% 0% (3.7%)
Experience arising on Scheme assets

Amount 960 (1,170) 1,605 (261) 1,191
% of Scheme assets 4.7% (6.0%) 7.9% (1.4%) 6.5%
Total amount recognised in SOFA as

Gains & Losses (3,864) 9 (514) (618) (622)
% of present value of funded obligations (13.6%) 0% (2.1%) (2.8%) (2.9%)
Present value of Scheme liabilities (28,387) (23,595) (24,610) (22,325) (21,787)

Fair value of Scheme assets 20,344 19,342 20,279 18,480 18,257
Deficit in Scheme (8,043) (4,253) (4,331) (3,845) (3,530)
15 RESTRICTED FUNDS
1 April 31 March
2016 Income Expenditure Transfers 2017
£’000 £’000 £’000 £’000 £’000
CBSO Centre reserve 3,123 - - (84) 3,039

Arts Council capital grant 1,050 - - (115) 935
Youth Orchestra reserve 69 - - (16) 53
Capital equipment reserve 5 - - (4) 1
Education & Chorus reserve - 375 (375) - -
Charitable activities reserve - 247 (247) - -
4,247 622 (622) (219) 4,028
35
15 RESTRICTED FUNDS (Continued)

1 April 31 March
2015 Income Expenditure Transfers 2016
£’000 £’000 £’000 £’000 £’000
CBSO Centre reserve 3,237 - - (114) 3,123

Arts Council capital grant 1,080 61 - (91) 1,050
Youth Orchestra reserve 84 - - (15) 69
Capital equipment reserve 17 - - (12) 5
Education & Chorus reserve - 334 (334) - -
Charitable activities reserve - 122 (122) - -
4,418 517 (456) (232) 4,247
Name of Restricted Fund Description, Nature and Purposes of the Fund
CBSO Centre reserve The CBSO Centre reserve comprises amounts received by grants
and used to fund both the initial build and future enhancements
of CBSO Centre. The transfer in the year is equivalent to the
depreciation charge on the assets.
Arts Council capital grant The Arts Council Capital Grant represents monies received from
Arts Council England to support the refurbishment of CBSO
Centre. In line with the terms of this grant, the monies received
are shown as a separate restricted grant. The transfer in the year
is equivalent to the depreciation charge on the assets to which
the grant relates.
Youth Orchestra reserve The Youth Orchestra reserve comprises funds donated by the
Midlands Youth Orchestra and a subsequent legacy to be used in
support of the CBSO Youth Orchestra. £15,000 of the grant was
transferred for these purposes during the year.
Capital equipment reserve The Capital Equipment reserve comprises amounts received by
grants and donations to fund the purchase of fixed assets. The
transfer in the year is equivalent to the depreciation charge on
the assets.
Education & Chorus reserve The Education & Chorus reserve represents monies received
from Trusts, Foundations and Corporate sponsors to fund our
Learning & Engagement work in schools and the wider
community.
Charitable activities reserve The Charitable Activities reserve represents monies from Trusts
and individual sponsors to support other charitable activities
including large-scale concerts and the Music Director and
Orchestra Leader positions.
36
16 UNRESTRICTED FUNDS
Actuarial
Balance Surplus loss on Balance
1 April in pension 31 March
2016 year scheme 2017
£’000 £’000 £’000 £’000
General reserve 619 583 - 1,202

Pension reserve (4,253) 74 (3,864) (8,043)
(3,634) 657 (3,864) (6,841)
Actuarial
Balance Surplus gain on Balance
1 April in pension 31 March
2015 year scheme 2016
£’000 £’000 £’000 £’000
General reserve 619 - - 619

Pension reserve (4,331) 69 9 (4,253)
(3,712) 69 9 (3,634)
17 NET ASSETS BY FUND

Restricted Unrestricted Total
2017 2017 2017
£’000 £’000 £’000
Funds are represented by:
Fixed assets 3,974 140 4,114

Current assets/ (liabilities) 54 1,062 1,116
Defined benefit pension liability - (8,043) (8,043)
4,028 (6,841) (2,813)
37
17 NET ASSETS BY FUND (Continued)

Restricted Unrestricted Total
2016 2016 2016
£’000 £’000 £’000
Funds are represented by:
Fixed assets 4,178 147 4,325

Current assets/ (liabilities) 69 472 541
Defined benefit pension liability - (4,253) (4,253)
4,247 (3,634) 613
18 CAPITAL COMMITMENTS
Future capital expenditure contracted for, but not provided in the financial statements as at 31 March
2017 was £21,915 (2016: £nil).
19 RELATED PARTY TRANSACTIONS
The following trustees during the year were nominated by Birmingham City Council, a major public
funder of the charity; Cllr Sir A Bore and Cllr R Brew.
On 22 April 2013 the CBSO Pension Trustee Limited was incorporated as a wholly owned subsidiary of
the charity. The CBSO Pension Trustee Limited acts as the corporate trustee for the charity's defined
benefit pension scheme. There have been no transactions during the year and thus the CBSO Pension
Trustee Limited is not consolidated within these accounts.
20 POST BALANCE SHEET EVENTS

In June 2017 the charity received a substantial legacy of £795,000, which is to be applied equally over
a period of eight years, for general charitable purposes.
38
City of Birmingham Symphony Orchestra
with grateful thanks to the cbso’s supporters - as at 17 July 2017
EXCEPTIONAL SUPPORT Mrs Jennifer Brooks in memory of David (*Julia Åberg)

We are particularly grateful for the exceptional support of the following Mary Brown in memory of Neville (*Elizabeth Golding)
people this year: Helen Chamberlain in memory of Allan Chamberlain
(*Sally Morgan)
£50,000+ Gay & Trevor Clarke (*Bryony Morrison)
Barry and Frances Kirkham Dr Anthony Cook & Ms Susan Elias
John Osborn in support of the Osborn Music Directorship John Cunningham-Dexter
An anonymous donor in support of the Leader’s position Julian & Lizzie Davey
Clive & Sylvia Richards Charity (Principal Supporter of the CBSO’s work with Dr Judith Dewsbury in memory of Tony (*Kate Setterfield)
young people) Alan Faulkner
Elisabeth Fisher (*Colette Overdijk)
BENEFACTORS (£10,000+) Wally Francis
Tony Davis & Darin Qualls in support of the Assistant Conductorship J Godwin
Peter & Jane How Anita & Wyn Griffiths
Maurice & Sheila Millward (*Chris Yates) Tony Hall
Jerry Sykes in support of keynote concert programming David & Margaret Handford (*David Powell)
Cliff Hubbold
symphony circle (£5,000+) Lord Hunt of Kings Heath
Keith & Mavis Hughes
John Cole & Jennie Howe (*Peter Campbell-Kelly)
Alison & Jamie Justham (*David Vines)
J P Cooper
Mrs T Justham in memory of David
Lord Digby & Lady Patricia Jones of Birmingham
(*Michael Seal, Associate Conductor)
Valerie Lester (*Jacqueline Tyler)
John & Lisa Kent (*Veronika Klírová)
Felonious Mongoose in memory of Dolores (*Richard Blake)
Charles and Tessa King-Farlow
Sheri & Janet Tullah (*Graeme Littlewood)
Beresford King-Smith in memory of Kate (*Heather Bradshaw)
and our other anonymous supporters.
Lorraine & David Knibb (*Jon Quirk)
Tim Marshall (*Austin Rowlands)
concerto circle (£2,500+)
David R Mayes OBE
The Barwell Charitable Trust (*David Gregory) Carole McKeown & David Low
Allan & Jennifer Buckle (*Jonathan Holland) Derek W Mear & Maureen Al-Kishtaini (*Colin Twigg)
Jill S Cadbury (*Charles Wall) Philip Mills
Isabel, Peter and Christopher in loving memory of Nigel & Ann Mundy
Ernest Churcher (*Elspeth Dutch) Paul & Elaine Murray
Charlie & Louise Craddock (*Kirsty Lovie) Ian C Norton
Anita Davies & the Newport Music Coach Andrew Orchard & Alan Jones
(*Jeremy Bushell) Rob Page
Mike & Tina Detheridge (*Andrew Herbert) Roger Pemberton & Monica Pirotta (*Angela Swanson)
Gill & Jonathan Evans (*Charlotte Skinner) Julie & Tony Phillips (*Elizabeth Fryer)
Len Hughes & Jacquie Blake (*Anthony Alcock) Roger and Jenny in memory of Juliet
Chris & Jane Loughran (*Jonathan Martindale) Rosalyn & Philip Phillips
Duncan Fielden & Jan Smaczny (*Michael Kidd) Ian Richards
Patrick & Tricia McDermott Eleanor Sinton (*Adrian Spillett)
(*Helen Edgar & Rachael Pankhurst) Mark & Amanda Smith
Frank North (*Kate Suthers) William Smith
Angela O’Farrell & Michael Lynes Mr M & Mrs S A Squires
(*Dianne Youngman & Toby Kearney) Tenors of the CBSO Chorus (*Joanna Patton)
John Osborn (*Gabriel Dyker) Alan Titchmarsh MBE (*Zoë Beyers)
Gerard Paris (*Amy Marshall) Basil & Patricia Turner (*Marie-Christine Zupancic)
Simon & Margaret Payton (*Julian Atkinson) Richard Usmar
Margaret & Alan Rogers (*Moritz Pfister) Mr R J & Mrs M Walls
Graham Russell & Gloria Bates (*Ruth Lawrence) Michael Ward
Lesley Thomson (*Caroline Simon) Robert Wilson (*Emmet Byrne)
Diana & Peter Wardley (*Oliver Janes) John Yelland OBE & Anna (*Catherine Bower)
and our other anonymous supporters. Mike & Jane Yeomans in memory of Jack Field
(*Michael Jenkinson)
OVERTURE circle (£1,000+) and our other anonymous supporters.
Mike & Jan Adams (*Eduardo Vassallo)
Lady Alexander of Weedon The following players are supported by anonymous members of the
Katherine Aldridge in memory of Chris Overture, Concerto and Symphony Circles, to whom we are very grateful:
Miss J L Arthur (*Julian Walters)
Amy Thomas Joanna Patton
Kiaran Asthana
Rainer Gibbons Mark Phillips
Viv & Hazel Astling
Mark Goodchild Adam Römer
John Bartlett & Sheila Beesley (*Mark O’Brien)
Amanda Lake Jane Wright
Michael Bates
Julie Bowker in memory of Ronnie (*Mark Doust) * Player supporter
39
GOLD PATRONS Sheila & Ian Sonley Naomi & David Dyker
(£650+ per year) Andy Street Linda & William Edmondson
Mr M K Ayers John & Dorothy Tesh Mr O H & Mrs J M Edwards
Christine & Neil Bonsall Tony & Hilary Vines A dedication to Elaine
Mike Bowden Roy Walton Robert van Elst
Mr C J M Carrier Julie & Simon Ward Miss E W Evans
Tim & Ruth Cherry Stephen Williams Dr D W Eyre-Walker
Tim Clarke & family Geoff & Moira Wyatt Jack & Kathleen Foxall
Professor & Mrs M H Cullen and our other anonymous supporters. Susan & John Franklin
Robin & Kathy Daniels Professor J E Gilkison & Prof T Hocking
Jenny Dawson PATRONS (£250+ per year) Stephen J Gill
Carol & Mervyn Dobson Jill Godsall
Mr H & Mrs T Allibon
Professor Sir David Eastwood Laura Greenaway in memory of David
Mr J C & Mrs L Ankcorn & family
Mr G L & Mrs D Evans Richards
David John Arrowsmith
Geoff & Dorothy Fearnehough John Gregory in memory of Janet
Val and Graham Bache
Nicola Fleet-Milne Roger & Gaye Hadley
Leon & Valda Bailey
Anne P Fletcher Miss A R Haigh
Mr & Mrs S V Barber
Ray Foulkes Mary & Tony Hale
Andrew Barnell
Mr R Furlong & Ms M Penlington Mr P & Mrs S Barnes Mr W L Hales
Averil Green in memory of Terry Green Mr & Mrs Barnfield Ros and John Hamburger
Richard Hartree Di Bass Malcolm Harbour
Mr A P G Hilton Mr P G Battye Ian Hartland
Charles & Jan Keil Drew Baxter Ann & Phil Haywood
Mr S J & Mrs A M Lloyd Peter & Jane Baxter Keith R Herbert
Paddy & Wendy Martin Paul Beckwith Keith Herbert & Pat Gregory
Miss C Midgley Mr I L Bednall Mr E L & Mrs M J Hill
Magdi & Daisy Obeid Peter & Gill Bertinat Hanne Hoeck & John Rawnsley
Dianne Page Mrs Ann Billen Susan Holmes in memory of Peter
Phillipa & Laurence Parkes Michael & Beryl Blood Mrs C and the late Mr J A Horton
Professor & Mrs A Rickinson Steve Bloor & Joy Shand Brenda Howell
Professor N K Shinton Bridget Blow CBE Valerie & David Howitt
Canon Dr Terry Slater Mr M & Mrs T Brazier Penny Hughes
Dr Barry & Mrs Marian Smith Dr Jane Flint Bridgewater Margaret & David Hussey
Pam & Alistair Smith & Mr Kenneth Bridgewater Mr R M E & Mrs V Irving
Ian and Ann Standing Mr Arthur Brooker Basil Jackson
Rimma Sushanskaya M. L. Brown Richard & Jean Johnson
Janet & Michael Taplin Mr W S Brown Mr & Mrs G Jones
Mr R P & Mrs S Ward Mr & Mrs J H Bulmer Mr Michael & Mrs Elaine Jones
Mr E M Worley CBE & Mrs A Worley Mr G H & Mrs J M Butler John Jordan
and our other anonymous supporters. Benedict & Katharine Cadbury Mr M N Jordan
Peter & Jeannie Cadman Paul Juler
sILVER PATRONS Carole & Richard Chillcott Mrs P Keane
(£450+ per year) Dr J & Mrs S Chitnis Rodney and Alyson Kettel
Dr and Mrs Andrew Clayton Mr & Mrs R Kirby
J & M Adnitt
Sue Clodd and Mike Griffiths Mr A D Kirkby
Richard Allen & Gail Barron
Dr A J Cochran Professor & Mrs R J Knecht
Mr A D & Mrs M Campbell
MrJ E & Mrs D M Cooke Michael and Di Larkam
Christine & John Carroll Mr J F & Mrs M J Lloyd
Professor J H & Mrs S M Coote
Mrs A P Crockson Professor David London
Luned Corser
Dr. Margaret Davis & Dr. John Davis Dr P A Manfield
David & Marian Crawford-Clarke
Mrs D R Greenhalgh Geoff & Jean Mann
Mrs Hilary Crosby
Miss D A Hirons Professor Peter T. Marsh
Maurice & Ann Crutchlow
John and Jenny Kendall Mrs P E Culley James & Meg Martineau
Rebecca King, in loving memory of Ian Mr A Dain Dr & Mrs Bernard Mason
M. E. Ling Stephen & Hilary Daly Geoff & Jenny Mason
Dr Jillian Mann MBE Robert & Barbara Darlaston Neil Maybury
Andrew & Linda Murray Trevor Davis Mr A A McLintock
Richard Newton Kath Deakin Patro Mobsby
Mrs A J Officer Mark Devin Nigel & Sarah Moores
Liz & Keith Parkes Dr J Dilkes & Mr K A Chipping & Norah Morton
Mr R Perkins & Miss F Hughes family Mrs E Mould
The Revd. Richard & Mrs Gill Postill Brian & Mary Dixon P J & H I B Mulligan
Clive & Cynthia Prior John Drury Mrs M M Nairn
Dr & Mrs R C Repp Lady Cecilia Dugdale Richard & Shirley Newby
Gillian Shaw Catherine Duke Joseph Newman & Marianne Joseph
40
with grateful thanks to the cbso’s supporters - as at 17 July 2017
Brian Noake Roger & Sue Whitehouse DONORS TO THE CBSO ENDOWMENT FUND
Miss B M Norman in memory of Eric Mr William & Mrs Rosemary Whiting Mike & Jan Adams
Ms E Norton OBE Pippa Whittaker Arts for All
In memory of Jack & Pam Nunn John and Pippa Wickson Viv & Hazel Astling
Mr & Mrs R T Orme Mr G R & Mrs P Willcox The Barwell Charitable Trust
S J Osborne Mrs J Williams In memory of Foley L Bates
Nigel Packer John & Daphne Wilson Bridget Blow CBE
Chris and Sue Payne Sarah & Kenneth Wilson Deloitte
Graham and Bobbie Perry John Winterbottom Miss Margery Elliott
Richard and Janice Pether Mr David Wright & Dr Rachel Parkins Simon Fairclough
Gill Powell & John Rowlatt and our other anonymous supporters Sir Dexter Hutt
Eileen Poxton in memory of Reg Poxton Irwin Mitchell Solicitors
C Predota and our Friends The Justham Trust
Roger & Edwina Preston Mrs Thelma Justham
Eileen & Ken Price Barry & Frances Kirkham
John Randall BEQUEST PATRONS
Chris & Jane Loughran
Gillian & Derek Rawson In memory of Chris Aldridge Mazars Charitable Trust
Mr D J Reeve The late Terence Baum Andrew Orchard & Alan Jones
Dr A L Reynolds & Miss B Stenhouse The late Elizabeth Bathurst Blencowe John Osborn
Peter & Shirley Robinson The late Mr Peter Walter Black Margaret Payton
Trevor Robinson Allan & Jennifer Buckle Roger Pemberton & Monica Pirotta
David & Jayne Roper The late Miss Sheila Margaret Burgess Smith David Pett
Helen Rowett & David Pelteret The late Colin W Clarke Pinsent Masons
Patricia Rowley The late Roy Collins Martin Purdy
Dr Gwynneth Roy The late Mr Peter S. Day Peter & Sally-Ann Sinclair
Vic & Anne Russell The late Mary Fellows Jerry Sykes
Carole & Chris Sallnow Valerie Frankland Alessandro & Monica Toso
Stephen Saltaire Jill Godsall Patrick Verwer
Terry & Tamara Savage The late Mrs Marjorie Hildreth R C & F M Young Trust
Miss S Scott Mr Trevor & Mrs Linda Ingram
Dr & Mrs Shrank Robin & Dee Johnson
Keith Shuttleworth Alan Jones & Andrew Orchard
Richard & Elizabeth Simons Ms Lou Jones
Peter & Sally-Ann Sinclair The late William Jones
Mr A M & Mrs R J Smith The late Mr & Mrs F. McDermott & Mrs C. Hall
Ed Smith Peter Macklin
Mary Smith & Brian Gardner in memory of The late Myriam Josephine Major
John and Jen The late Peter & Moyra Monahan
Peter J & Dorothy Smith The late Arthur Mould
Ray Smith The late June North
Dr A T & Mrs U R Smyth Stephen Osborne
Pam Snell Gill Powell
Gabrielle Stanley The late Mrs Edith Roberts
Anne Stock Philip Rothenberg
Andrew Stubbs The late Mr Andrew Roulstone
Mr & Mrs J B Stuffins The late Thomas Edward Scott
J E Sutton Mrs C E Smith & Mr William Smith
Miss K V Swift Pam Snell
Michael & Barbara Taylor The late Mrs Sylvia Stirman
John Turner The late Mrs Eileen Summers
Lucy Turner John Taylor
John & Anne Turney Mr D M & Mrs J G Thorne
Mrs J H Upward Mrs Angela & Mr John Watts
Professor & Mrs J A Vale Alan Woodfield
William & Janet Vincent
Eve Vines
Stephen Vokes & Erica Barnett
Peter Walling
Kit Ward
Revd T & Mrs S Ward
Ann Warne
Mrs M L Webb
Elisabeth & Keith Wellings
Bill & Helen Welsh
Mr & Mrs J West
41
thank you
The support we receive from thousands of individual donors, public funders, businesses and private
foundations allows us to present extraordinary performances and to create exciting activities in
schools and communities. Your support makes such a difference and is much appreciated.
Strategic Partners Corporate Partners

Official Airline Partner
Major supporter of the Spirit of Birmingham project
Major programme sponsor Major sponsor of Mirga

Gražinytė-Tyla's inaugural concert Major Supporter of CBSO Fanfare Project
Partners in Orchestral Development

Hotel Partner
William King Ltd
Trusts and Foundations

29th May 1961 Charitable Trust J Paul Getty Jnr Charitable Trust
The Andor Charitable Trust Grantham Yorke Trust
Angus Allnatt Charitable Foundation The Grimmitt Trust
The Lord Austin Trust The Joseph Hopkins Charity
The Rachel Baker Memorial Charity The Kirby Laing Foundation
The Bishop of Birmingham’s Charitable Trust Lillie Johnson Charitable Trust
Birmingham Bodenham Trust Limoges Charitable Trust
Bite Size Pieces MFPA Trust Fund for the Training of
The Boshier-Hinton Foundation Handicapped Children in the Arts
The Charles Brotherton Trust The Oakley Charitable Trust
The Edward & Dorothy Cadbury Trust The S and D Lloyd Charity
The R V J Cadbury Charitable Trust The Helen Rachael Mackaness Charitable Trust
William A Cadbury Charitable Trust The James Frederick and Ethel Anne Measures Charity
CBSO Development Trust The Misses C M Pearson & M V Williams Charitable Trust
City of Birmingham Orchestral Endowment Fund The Perry Family Charitable Trust
The John S Cohen Foundation The Austin and Hope Pilkington Trust
The George Henry Collins Charity The Quality of Life Charitable Trust
www.prsformusicfoundation.com
The Ernest Cook Trust Quayle Charitable Trust
The D’Oyly Carte Charitable Trust The Radcliffe Trust
Baron Davenport’s Charity The Bernarr Rainbow Trust
Dumbreck Charity The Ratcliff Foundation
Dunard Fund Clive & Sylvia Richards Charity
The W E Dunn Trust The M.K. Rose Charitable Trust
The Elgar Society The Saintbury Trust
John Ellerman Foundation St Thomas’s Dole Charity
The Eveson Charitable Trust The Thousandth Man – Richard Burns Charitable Trust
Esmée Fairbairn Foundation The Roger and Douglas Turner Charitable Trust
George Fentham Birmingham Charity GJW Turner Trust
Fidelio Charitable Trust Wilmcote Charitrust
The Garrick Charitable Trust The Alan Woodfield Charitable Trust
Thank you also to our many Benefactors, Circles members,

Patrons and Friends for their generous support.

CBSO Centre, Berkley Street, Birmingham, B1 2LF | +44 (0)121 616 6500 | [email protected]
facebook.com/thecbso twitter.com/thecbso cbso.co.uk
Patron: HRH The Earl of Wessex KG GCVO | Music Director: Mirga Gražinytė-Tyla | Chief Executive: Stephen Maddock OBE | Chair: Bridget Blow CBE
Registered in England and Wales no. 1262018 | Registered charity no. 506276 | All information correct at time of publication. Subject to change, subject to availability.

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What is discussed in the Chair's report?

What is discussed in the Chair's report?

What challenges does the CBSO face in maintaining its finances?

What challenges does the CBSO face in maintaining its finances?

2016-17

“this has once again been a year of

“my final word of thanks must go to the

Chief Executive’s Report 3

Report of the Trustees 5

Report of the Auditors 19

Statement of Financial Activities 20

Statement of cash flows 22

Notes to the Financial Statements 27

OBJECTIVES AND ACTIVITIES

Mission and Objects

• Promoting concerts in Birmingham as the resident orchestra at Symphony Hall, performing a

Achievements and Performance

• A concert to mark the 25th birthday of Symphony Hall, conducted by Birmingham-born

The Orchestra made two overseas tours in 2016-17.

Broadcasting and Recording

Learning & Participation Activities

Highlights of the learning & engagement programme included:

and conducted by CBSO Assistant Conductor Jonathan Bloxham, to give a performance of

Plans for future periods

• The likelihood of reduced income from public funders;

Public Funding and Going Concern

We achieve this by:

REFERENCE AND ADMINISTRATION DETAILS

Charity Registration number: 506276

Trustees: Bridget Blow CBE # (Chair)

Cllr Sir Albert Bore (appointed 18 April 2017)

Chief Executive Stephen Maddock OBE

Company Secretary Annmarie Wallis Director of Finance

Other Senior Staff: Abby Corfan Director of Marketing & Digital

Senior Music Officers Mirga Gražinytė-Tyla Music Director

STRUCTURE, MANAGEMENT AND GOVERNANCE

Trustee induction and training

Trustee Liability Insurance

Pay policy for senior staff

Trustees’ responsibilities in relation to the financial statements

• select suitable accounting policies and then apply them consistently;

• make judgments and estimates that are reasonable and prudent;

Statement as to disclosure of information to auditors

• CBSO’s major donors, benefactors, circle supporters, patrons and friends;

By order of the trustees

Opinion on financial statements

In our opinion the financial statements:

Scope of the audit of the financial statements

Opinion on other matter prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Respective responsibilities of trustees and auditor

MICHAEL HUGGINS (Senior Statutory Auditor)

Unrestricted Total Total

Charitable Activities 4 4,480 163 4,643 4,160

TOTAL 8,384 622 9,006 8,634

Raising Funds 7 311 10 321 293

Charitable Activities 7 7,635 612 8,247 8,443

TOTAL 7,946 622 8,568 8,736

NET INCOME/(EXPENDITURE) FOR THE YEAR 9 438 - 438 (102)