CHARITY STATUS
IPC Status
Effective Date: 1 Apr 2006 to 1 Apr 2012
A member of Central Fund for Arts Organization under National Arts Council.
Auditor
Ernst & Young |
| Charity Registration No.: |
48-0003303-X |
| Charity Registration Date: |
29 October 1993 |
| Constitution: |
Singapore Symphonia Company Limited |
| Date of Establishment: |
19 May 1978 |
| Business Registration No.: |
1978001125M |
|
INCOME STATEMENT
| |
2008$ |
2007$ |
2006$ |
2005$ |
2004$ |
| INCOME |
|
|
|
|
|
| Rental |
732,130 |
925,624 |
865,370 |
985,029 |
1,103,163 |
| Sponsorship |
986,371 |
1,041,182 |
1,199,146 |
982,500 |
1,264,885 |
| Sale of Tickets |
770,347 |
810,258 |
981,719 |
1,044,131 |
1,441,852 |
| Commission |
689,312 |
619,369 |
588,893 |
541,302 |
517,426 |
| Surplus from Projects |
1,467,030 |
0 |
391,616 |
473,760 |
318,761 |
| Engagement of Musicians |
281,310 |
96,076 |
47,513 |
222,870 |
67,805 |
| Interest Income |
24,350 |
21,302 |
18,042 |
16,209 |
11,009 |
| Other Income |
112,024 |
130,207 |
119,048 |
193,584 |
68,497 |
| Total Income |
5,062,775 |
3,664,018 |
4,211,347 |
4,459,385 |
4,793,398 |
| EXPENDITURE |
| Staff Cost |
10,428,937 |
9,676,430 |
9,372,851 |
9,247,775 |
8,904,506 |
| Depreciation |
148,949 |
207,635 |
148,327 |
218,143 |
122,102 |
| Auditor's remuneration |
20,000 |
20,000 |
20,000 |
20,000 |
20,000 |
| Artist fees |
1,372,215 |
1,431,486 |
1,532,929 |
1,170,143 |
1,472,180 |
| Publicity |
542,164 |
694,027 |
669,675 |
838,498 |
885,725 |
| Freelance fees |
592,046 |
544,362 |
411,291 |
457,685 |
295,937 |
| Hiring of concert hall |
604,816 |
535,890 |
578,720 |
625,599 |
700,297 |
| Other operating expenses |
1,063,811 |
1,093,609 |
831,804 |
760,696 |
874,864 |
| Total Cost & Expenses |
14,772,938 |
14,203,439 |
13,565,597 |
13,338,539 |
13,275,611 |
| Excess of expenditure over income from operating activities |
(9,710,163) |
(10,559,421) |
(9,354,250) |
(8,879,154) |
(8,482,213) |
Grant from Ministry of Information,
Comm and the Arts |
5,000,000 |
4,892,641 |
5,000,000 |
5,000,000 |
- |
| Income from Singapore Totalisator Board |
5,500,000 |
5,500,000 |
5,000,000 |
4,737,000 |
5,989,500 |
| Excess of expenditure over income |
789,837 |
(166,780) |
645,750 |
857,846 |
(2,492,713) |
| Transferred from Endownment Fund Reserve |
| Net surplus of Investment Account |
(418,460) |
3,454,320 |
1,589,572 |
1,383,228 |
1,668,001 |
Cash withdrawal during the financial
year |
0 |
0 |
0 |
1,700,000 |
2,000,000 |
(Deficit) / surplus transferred
to General Fund |
371,377 |
3,287,540 |
2,235,322 |
3,941,074 |
1,175,288 |
CASHFLOW STATEMENT
|
2008$ |
2007$ |
2006$ |
2005$ |
2004$ |
| CASH FLOW FROM OPERATING ACTIVITIES |
| Operating (deficit) / surplus before taxation |
371,377 |
3,287,540 |
2,235,322 |
3,941,074 |
1,175,288 |
| Gain on dispoal of fixed assets |
0 |
0 |
0 |
(490) |
- |
| Depreciation of fixed assets |
148,949 |
207,635 |
148,327 |
218,143 |
122,102 |
| Interest income |
(24,350) |
(21,302) |
(18,042) |
(16,209) |
(11,009) |
| OPERATING CASH FLOW BEFORE REINVESTMENT IN WORKING CAPITAL |
495,976 |
3,473,873 |
2,365,607 |
4,142,518 |
1,286,381 |
| Increase / Decrease in receivables |
(3,065,288) |
860,491 |
(1,288,35) |
532,377 |
(678,297) |
| Increase / Decrease in prepaid operating expenses |
(22,961) |
(52,529) |
32,399 |
- |
- |
| Increase / Decrease in payables and accruals |
2,126,793 |
(503,380) |
796,981 |
590,445 |
522,995 |
| Increase / Decrease in investments |
418,460 |
(3,454,319) |
(2,372,101) |
762,140 |
(534,596) |
| Increase / Decrease in Endowment Fund Reserve |
- |
- |
782,528 |
(2,145,368) |
(1,133,405) |
| Increase in fixed deposits pledged to bank |
- |
- |
- |
- |
(130,000) |
| CASH (USED IN) / GENERATED FROM OPERATIONS |
(47,020) |
1,330,896 |
317,060 |
3,882,112 |
(666,922) |
| Interest income received |
24,350 |
21,302 |
18,042 |
16,209 |
11,009 |
| Donations received |
2,567,430 |
529,792 |
243,951 |
180,659 |
200,008 |
| NET CASH (USED IN) / PROVIDED BY OPERATING ACTIVITIES |
2,544,760 |
1,881,990 |
579,053 |
4,078,980 |
(455,905) |
| CASH FLOW FROM INVESTING ACTIVITIES |
| Purchase of property, plant and equipment |
(83,986) |
(162,562) |
(135,416) |
(203,476) |
(163,472) |
| Proceeds from disposal of fixed assets |
0 |
- |
- |
490 |
- |
| NET CASH FLOW USED IN INVESTING ACTIVITIES |
(83,986) |
(162,562) |
(135,416) |
(202,986) |
(163,472) |
| Net (decrease)/increase in cash and cash equivalents |
2,460,774 |
1,719,428 |
443,637 |
3,875,994 |
(619,377) |
| Cash and cash equivalents at beginning of financial year |
9,055,615 |
7,336,187 |
6,892,550 |
3,016,556 |
3,635,933 |
CASH & CASH EQUIVALENTS AT END OF
FINANCIAL YEAR |
11,516,389 |
9,055,615 |
7,336,187 |
6,892,550 |
3,016,556
|
BALANCE SHEET
| |
2008$ |
2007$ |
2006$ |
2005$ |
2004$ |
| Fixed Assets |
386,559 |
451,522 |
496,595 |
509,506 |
524,173 |
| Investments |
30,003,100 |
30,421,560 |
26,967,241 |
24,595,140 |
25,357,280 |
| CURRENT ASSETS |
| Debtors |
4,457,834 |
1,392,546 |
2,253,037 |
1,029,963 |
1,562,340 |
| Prepaid operating expenses |
108,371 |
85,410 |
32,881 |
- |
- |
| Cash and cash equivalents |
11,646,389 |
9,185,615 |
7,466,187 |
7,022,550 |
3,146,556 |
|
16,212,594 |
10,663,571 |
9,752,105 |
8,052,513 |
4,708,896 |
| CURRENT LIABILITIES |
| Payable and accruals |
(7,145,641) |
(5,018,848) |
(4,515,468) |
(3,718,487) |
(3,128,042) |
| NET CURRENT ASSETS |
9,066,953 |
5,644,723 |
5,236,637 |
4,334,026 |
1,580,854 |
|
39,456,612 |
36,517,805 |
32,700,473 |
29,438,672 |
27,462,307 |
| ENDOWMENT FUND |
42,863,990 |
40,296,560 |
39,766,768 |
39,522,817 |
39,342,158 |
| ENDOWMENT FUND RESERVE |
(16,719,317) |
(16,719,317) |
(16,719,317) |
(17,501,845) |
(15,356,477) |
|
26,144,673 |
23,577,243 |
23,047,451 |
22,020,972 |
23,985,681 |
| GENERAL FUND |
13,311,939 |
12,940,562 |
9,653,022 |
7,417,700 |
3,476,626 |
|
39,456,612 |
36,517,805 |
32,700,473 |
29,438,672 |
27,462,307 |
|
