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Facts & Figures

Charity Status

IPC Status
Renewed until 1 Apr 2018

Unique Entity Number:
197801125M

Charity Registration Date:
29 October 1993

Auditor
Ernst & Young LLP

Constitution:
Date of Establishment

Singapore Symphonia Company Limited
19 May 1987

INCOME AND EXPENDITURE ACCOUNT FOR THE financial YEAR ENDED 31 MARCH 2016

INCOME FY2016 FY2015 FY2014 FY2013 FY2012
Sponsorship 1,083,660 1,125,997 1,081,963 1,056,515 672,311
Sale of tickets 1,295,313 1,231,204 1,486,952 1,254,345 996,926
Commission income 895,365 858,528 891,828 902,900 886,559
Surplus / (Deficit) from projects 173,154 (142,091) 556,517 (28,479) 1,595,895
Audience development and outreach income 600,325 613,354 328,071 380,445 276,204
Singapore National Youth Orchestra ("SNYO") income 501,159 0 0 0 0
Singapore Symphony Children's Choir ("SSCC") income 386,851 194,273 154,228 0 0
Interest income 31,863 28,590 28,568 26,626 23,214
Income from Singapore Totalisator Board Trust Fund 0 0 600,000 1,250,000 780,000
Income from Temasek Foundation Nurtures Trust Fund 797,350 789,557 794,507 792,771 790,000
Investment income 0 600,000 650,000 0 0
Other income 383,349 158,236 442,855 130,294 65,729
Total income 6,148,389 5,457,648 7,015,489 5,765,417 6,086,838
EXPENDITURE
Staff cost 13,374,632 12,646,568 11,825,901 11,672,385 11,575,385
Depreciation of property, plant and equipment 111,785 245,599 79,158 73,429 87,936
Auditor's remuneration 30,755 37,446 37,555 40,720 45,254
Artist fees 1,445,676 1,649,811 1,755,970 1,691,457 1,393,544
Publicity 1,073,579 751,974 792,544 711,933 666,830
Freelance fees 383,074 315,004 625,385 442,852 397,080
Hiring of concert hall 715,795 718,233 818,148 778,009 828,025
Audience development and outreach expenses 598,996 635,367 672,442 422,075 290,061
Victoria Concert Hall ("VCH") Programme expenses 222,746 137,103 0 0 0
SNYO expenses 277,019 0 0 0 0
SSCC expenses 340,467 235,541 159,437 0 0
Singapore Symphony Chorus ("SSC") expenses 120,106 25,956 66,160 0 0
Other operating expenditure 1,445,182 1,438,502 1,424,383 1,239,132 1,738,538
Total Expenditure 20,139,812 18,837,104 18,257,083 17,071,9922 17,022,653
Excess of expenditure over income from operating activities (13,991,423) (13,379,456) (11,241,594) (11,306,575) (10,935,815)
Grant from Ministry of Community, Culture and Youth 11,272,493 11,500,000 8,000,000 8,000,000 7,000,000
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 1,281,070 2,120,544 758,406 693,425 64,185
Transfer to Specific Fund (1,157,510) (1,600,000) (600,000) (600,000) 0
Net surplus / (deficit) of Investment Account 106,463 5,282,954 701,494 2,179,217 (2,446,402)
Surplus / (Deficit) transferred to General Fund 230,023 5,803,498 859,900 2,272,642 (2,382,217)

STATEMENT OF CASH FLOW FOR THE FINANCIAL YEAR ENDED 31 MARCH 2016

CASH FLOW FROM OPERATING ACTIVITIES FY2016 FY2015 FY2014 FY2013 FY2012
Surplus / (Deficit) before taxation 1,387,533 7,403,498 1,459,900 2,872,642 (2,382,217)
Net fair value gains on investments (106,463) (5,282,954) (701,494) (2,179,217) 0
Depreciation of property, plant and equipment 111,785 245,599 79,158 73,429 87,936
Investment income 0 (600,000) (650,000) 0 0
Interest income (31,863) (28,590) (28,568) (26,626) (23,214)
Bad debts written off 0 0 0 0 10,078
OPERATING CASH FLOW BEFORE CHANGES IN WORKING CAPITAL 1,360,992 1,737,553 158,996 740,228 (2,307,417)
Increase / Decrease in receivables (617,752) (7,614,245) (956,843) 1,101,223 (513,256)
Increase / Decrease in prepaid operating expenses (44,441) 47,821 (63,689) (20,205) (1,300)
Increase / Decrease in payables and accruals 204,841 4,222,225 627,408 581,861 (486,277)
Increase / Decrease in investments 0 0 0 0 0
CASH FLOWS (USED IN) / GENERATED FROM OPERATIONS 903,640 (1,606,646) (234,128) 2,403,107 (877,754)
Interest received 31,863 28,590 28,568 26,626 23,214
Donations received 615,454 293,474 277,935 398,733 281,152
Cash used in touring projects (39,851) (596,033) 0 0 0
Net cash flows (used in) / generated from operating activities 1,511,106 (1,880,615) 72,375 2,828,466 (573,388)
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment (167,110) (407,957) (45,764) (30,939) (54,705)
Realisation of cash from Fund Manager 0 600,000 650,000 0 0
Increase in fixed deposits (358) (925) (357) (1,355) (640)
Net cash flows generated from /(used in) investing activities (167,468) 191,118 603,879 (32,294) (55,345)
Net (decrease) / increase in cash and cash equivalents 1,343,638 (1,689,497) 676,254 2,796,172 (628,733)
Cash and cash equivalents at beginning of financial year 11,597,867 13,287,364 12,611,110 9,814,938 10,443,671
Cash and cash equivalents at end of financial year 12,941,505 11,597,867 13,287,364 12,611,110 9,814,938

STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2016

ASSETS FY2016 FY2015 FY2014 FY2013 FY2012
NON-CURRENT ASSETS
Property, plant and equipment 433,168 377,843 215,485 248,879 291,369
Investments 63,626,448 62,500,360 57,817,406 32,550,982 30,387,671
CURRENT ASSETS
Receivables 13,168,010 12,550,258 4,936,013 3,979,170 5,080,393
Prepaid operating expenses 140,785 96,344 144,165 80,476 44,365
Pledged deposits 130,000 130,000 130,000 130,000 130,000
Fixed deposits 66,115 65,757 64,832 64,475 63,120
Cash and cash equivalents 12,941,505 11,597,867 13,287,364 12,611,110 9,814,938
26,446,415 24,440,226 18,562,374 16,865,231 15,132,816
CURRENT LIABILITIES
Payables and accruals (13,041,611) (12,836,770) (8,614,545) (7,987,137) (7,405,276)
Net Current Assets 13,404,804 11,603,456 9,947,829 8,878,094 7,727,540
77,464,420 74,481,659 67,980,720 41,677,955 38,406,580
Endowment Fund 56,537,308 55,174,229 55,480,755 47,357,207 46,958,474
Endowment Fund Reserve 0 0 0 (16,719,317) (16,719,317)
56,537,308 55,174,229 55,480,755 30,637,890 30,239,157
General Fund 17,333,486 17,103,463 11,299,965 10,440,065 8,167,423
Specific Fund 3,593,626 2,203,967 1,200,000 600,000 0
77,464,420 74,481,659 67,980,720 41,677,955 38,406,580
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