FACTS & FIGURES

CHARITY STATUS

IPC Status
Renewed until 1 Apr 2018
Unique Entity Number:
Charity Registration Date:
197801125M
29 October 1993
 
Auditor
Ernst & Young LLP
Constitution:
Date of Establishment
Singapore Symphonia Company Limited
19 May 1987
 

INCOME AND EXPENDITURE ACCOUNT FOR THE 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 Education Foundation Trust Fund
797,350
789,557
794,507
792,771
790,000
 
Income from Cultural Matching Fund
0
0
300,000
0
0
 
Investment income
0
600,000
650,000
0
0
 
Other income
383,349
158,236
142,855
130,294
65,729
 
Total income
6,148,389
5,457,648
7,015,489
5,765,417
6,086,838
 
EXPENDITURE
FY2016
FY2015
FY2014
FY2013
FY2012
 
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
17,071,992
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
 
Excess of expenditure over income
1,281,070
2,120,544
758,406
693,425
64,185
 
TRANSFERRED FROM ENDOWMENT FUND RESERVE
FY2016
FY2015
FY2014
FY2013
FY2012
 
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
2,430,496
 
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
FY2016
FY2015
FY2014
FY2013
FY2012
 
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

NON-CURRENT ASSETS
FY2016
FY2015
FY2014
FY2013
FY2012
 
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