IPC Status
Renewed until 1 April 2024
Unique Entity Number
197801125M
Charity Registration Date
29 October 1993
Auditor
Ernst & Young LLP
Constitution
Singapore Symphonia Company Limited
Date of Establishment
19 May 1978
Read Our Highlights for FY1920 (pdf, 1MB)
FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
---|---|---|---|---|---|
$ | $ | $ | $ | $ | |
Revenue | |||||
Sponsorship | 579,169 | 752,013 | 937,204 | 1,352,424 | 1,083,660 |
Sale of tickets | 1,996,196 | 2,347,361 | 1,647,177 | 2,316,908 | 1,895,638 |
2,575,365 | 3,099,374 | 2,584,381 | 3,669,332 | 2,979,298 | |
Other items of income | |||||
Commission income | 847,324 | 768,752 | 827,765 | 805,082 | 895,365 |
Donations | 1,441,321 | 3,481,359 | 3,126,543 | 1,259,034 | 173,154 |
Interest income | 31,694 | 27,331 | 25,041 | 28,486 | 31,863 |
Income from Cultural Matching Fund | 2,228,683 | 1,292,947 | 0 | 0 | 0 |
Income from Temasek Foundation Nurtures | 826,498 | 860,000 | 900,000 | 789,300 | 797,350 |
Unrealised fair value gain on investments | 0 | 0 | 372,537 | 3,977,250 | 106,463 |
Investment income from bonds and investments | 2,884,685 | 2,806,935 | 2,674,806 | 0 | 0 |
Investment income | 0 | 0 | 0 | 0 | 0 |
Instrument donation income | 0 | 0 | 0 | 707,609 | 0 |
Rental income | 7,091 | 9,292 | 0 | 0 | 0 |
Other income | 620,579 | 803,122 | 732,211 | 652,884 | 786,359 |
Total income | 11,463,240 | 13,149,112 | 11,243,284 | 11,888,977 | 5,769,852 |
EXPENDITURE | |||||
Staff costs | 14,307,349 | 15,140,050 | 14,747,693 | 14,071,800 | 13,374,632 |
Depreciation of property, plant and equipment | 494,293 | 645,425 | 592,361 | 172,404 | 111,785 |
Depreciation of right-of-use assets | 1,085,138 | 0 | 0 | 0 | 0 |
Auditor's remuneration | 30,904 | 30,730 | 30,712 | 30,720 | 30,755 |
Artiste fees | 1,413,587 | 1,475,429 | 1,464,020 | 1,893,783 | 1,445,676 |
Publicity | 1,106,170 | 1,272,369 | 1,102,015 | 1,323,452 | 1,073,579 |
Freelance fees | 548,211 | 488,080 | 574,199 | 227,134 | 383,074 |
Hiring of concert hall | 691,806 | 720,431 | 826,076 | 782,498 | 715,795 |
Audience development and outreach expenses | 428,314 | 564,576 | 420,751 | 559,538 | 598,996 |
VCH Programme expenses | 746,223 | 1,377,627 | 962,588 | 909,104 | 222,746 |
SNYO expenses | 511,715 | 917,470 | 838,752 | 306,956 | 277,019 |
SSCC expenses | 354,380 | 350,389 | 426,224 | 442,607 | 340,467 |
Singapore Symphony Chorus ("SSC") expenses | 165,807 | 131,162 | 98,715 | 125,396 | 120,106 |
NPVC expenses | 330,030 | 0 | 314,035 | 0 | 0 |
Expenditure on Fundraising projects | 0 | 478,209 | 247,094 | 125,048 | 0 |
Other operating expenditure | 1,382,306 | 2,249,443 | 2,002,657 | 1,535,456 | 1,445,182 |
Finance costs | 34,686 | 0 | 0 | 0 | 0 |
Investment expenses | 293,900 | 264,967 | 292,305 | 0 | 0 |
Unrealised fair value loss on investments | 3,360,180 | 2,141,910 | 0 | 0 | 0 |
Expenditure: Operating | 27,284,999 | 28,248,267 | 24,940,197 | 22,505,896 | 20,139,812 |
Expenditure: Special projects | 129,780 | 321,162 | 217,061 | 60,020 | 0 |
Total Expenditure | 27,414,779 | 28,569,429 | 25,157,258 | 22,565,916 | 20,139,812 |
Excess of expenditure over income from operating activities | (15,951,539) | (15,420,317) | (13,913,974) | (10,676,939) | (14,369,960) |
Grant from Ministry of Culture, Community and Youth/National Arts Council | 11,800,000 | 12,200,000 | 12,600,000 | 12,870,980 | 11,757,493 |
Grant from Singapore Totalisator Board | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 |
Surplus of income over expenditure | (151,539) | 779,683 | 2,686,026 | 6,194,041 | 1,387,533 |
Transfer to Specific Fund | 0 | 0 | 0 | (1,706,763) | (1,157,510) |
Surplus before taxation | (151,539) | 779,683 | 2,686,026 | 4,487,278 | 230,023 |
Income tax expense | 0 | 0 | 0 | 0 | 0 |
Surplus for the financial year, representing total comprehensive income for the financial year | (151,539) | 779,683 | 2,686,026 | 4,487,278 | 230,023 |
FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
---|---|---|---|---|---|
$ | $ | $ | $ | $ | |
Cash flows from operating activities | |||||
Surplus of income before expenditure | (151,539) | 779,683 | 2,686,026 | 6,194,041 | 1,387,533 |
Adjustments for: | |||||
Unrealised fair value loss/(gain) on investments | 3,360,180 | 2,141,910 | (372,537) | (3,977,250) | (106,463) |
Depreciation of property, plant and equipment | 494,293 | 645,425 | 592,361 | 172,404 | 111,785 |
Depreciation of right-of-use assets | 1,085,138 | 0 | 0 | 0 | 0 |
Net loss on disposal of property, plant and equipment | 0 | 81 | 0 | 0 | 0 |
Interest income | (31,694) | (27,331) | (25,041) | (28,486) | (31,863) |
Finance costs | 34,686 | 0 | 0 | 0 | 0 |
Unrealised exchange (gain)/loss | (74,316) | (22,388) | 236,507 | 0 | 0 |
Investment income | (2,884,685) | (2,806,935) | (2,674,806) | 0 | 0 |
Operating cash flows before changes in working capital | 1,832,063 | 710,445 | 442,510 | 2,360,709 | 1,360,992 |
(Increase)/Decrease in trade and other receivables | 20,687 | (715,732) | 3,435,917 | 1,825,029 | (617,752) |
(Increase)/Decrease in grant receivables | (1,581,845) | (1,018,155) | (195, 531) | 0 | 0 |
(Increase)/Decrease in prepaid operating expenses | 10,212 | 56,222 | (170,427) | 33,234 | (44,441) |
Increase/(Decrease) in payables and accruals | (1,135,174) | 871,327 | (3,583,681) | (3,631,476) | 204,841 |
Cash flows (used in)/generated from operations | (854,057) | (95,893) | (71,212) | 587,496 | 903,640 |
Interest received | 31,694 | 27,331 | 25,041 | 28,486 | 31,863 |
Donations received | 0 | 0 | 0 | 477,751 | 615,454 |
Cash used in touring projects | 0 | 0 | (129,401) | (1,227,956) | (39,851) |
Net cash flows (used in)/generated from operating activities | (822,363) | (68,562) | (175,572) | (134,223) | 1,511,106 |
Cash flows from investing activities | |||||
Purchase of property, plant and equipment | (64,509) | (191,517) | (2,041,928) | (936,127) | (167,110) |
Proceeds from disposal of property, plant and equipment | 0 | 12,500 | 0 | 0 | 0 |
Net disposal/(purchase) of investments | (500,000) | 6,341,080 | (1,384,045) | 0 | 0 |
Changes in cash held by investment fund managers | 293,900 | (4,525,113) | 1,676,350 | 0 | 0 |
Increase in fixed deposits | (362) | (945) | (358) | (939) | (358) |
Net cash flows generated from/(used in) investing activities | (270,971) | 1,636,005 | (1,749,981) | (937,066) | (167,468) |
Cash flows from financing activities | |||||
Payment of lease liabilities | (1,146,360) | 0 | 0 | 0 | 0 |
Capital contribution | 500,000 | 0 | 0 | 0 | 0 |
(646,360) | 0 | 0 | 0 | 0 | |
Net (decrease)/increase in cash and cash equivalents | (1,739,694) | 1,567,443 | (1,925,553) | (1,071,289) | 1,343,638 |
Cash and cash equivalents at beginning of the financial year | 11,512,106 | 9,944,663 | 11,870,216 | 12,941,505 | 11,597,867 |
Cash and cash equivalents at end of the financial year | 9,772,412 | 11,512,106 | 9,944,663 | 11,870,216 | 12,941,505 |
FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
---|---|---|---|---|---|
$ | $ | $ | $ | $ | |
Non-current assets | |||||
Property, plant and equipment | 1,566,157 | 2,179,968 | 2,646,458 | 1,196,891 | 433,168 |
Right-of-use assets | 596,250 | 0 | 0 | 0 | 0 |
Investments | 76,081,707 | 76,276,786 | 77,405,340 | 71,051,141 | 63,626,448 |
78,244,114 | 78,456,754 | 80,051,798 | 72,248,032 | 64,059,616 | |
Current assets | |||||
Trade and other receivables | 1,497,640 | 1,518,327 | 802,595 | 4,342,981 | 4,337,046 |
Grant receivables | 9,900,000 | 8,318,155 | 7,300,000 | 7,000,000 | 8,830,964 |
Prepaid operating expenses | 211,545 | 221,757 | 277,978 | 107,551 | 140,785 |
Pledged deposits | 130,000 | 130,000 | 130,000 | 130,000 | 130,000 |
Fixed deposits | 68,719 | 68,357 | 67,412 | 67,054 | 66,115 |
Cash and cash equivalents | 9,772,412 | 11,512,106 | 9,944,663 | 11,870,216 | 12,941,505 |
21,580,316 | 21,768,702 | 18,522,648 | 23,517,802 | 26,446,415 | |
Total assets | 99,824,430 | 100,225,456 | 98,574,446 | 95,765,834 | 90,506,031 |
Current liabilities | |||||
Payables and accruals | 5,225,823 | 6,252,692 | 5,576,454 | 9,410,135 | 13,041,611 |
Contract liabilities | 86,784 | 195,089 | 0 | 0 | 0 |
Lease liabilities | 347,066 | 0 | 0 | 0 | 0 |
5,659,673 | 6,447,781 | 5,576,454 | 9,410,135 | 13,041,611 | |
Net current assets | 15,920,643 | 15,320,921 | 12,946,194 | 14,107,667 | 13,404,804 |
Non-current liabilities | |||||
Provision for reinstatement cost | 250,000 | 250,000 | 250,000 | 0 | 0 |
Lease liabilities | 38,621 | 0 | 0 | 0 | 0 |
288,621 | 250,000 | 250,000 | 0 | 0 | |
Total liabilities | 5,948,294 | 6,697,781 | 5,826,454 | 9,410,135 | 13,041,611 |
Net assets | 93,876,136 | 93,527,675 | 92,747,992 | 86,355,699 | 77,464,420 |
Equity | |||||
Endowment Fund | 65,070,170 | 64,570,170 | 64,221,170 | 60,385,502 | 56,537,308 | General Fund | 25,134,934 | 25,286,473 | 24,506,790 | 21,820,764 | 17,333,486 |
Specific Fund | 3,671,032 | 3,671,032 | 4,020,032 | 4,149,433 | 3,593,626 |
Total equity | 93,876,136 | 93,527,675 | 92,747,992 | 86,355,699 | 77,464,420 |