REGISTERED COMPANY NUMBER: 02690838 (England and Wales) REGISTERED CHARITY NUMBER: 1010064
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
BADINAGE
BADINAGE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
BADINAGE REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023
TRUSTEES Tracey Anne Kellett Patrick Maddams (resigned 18.11.2022) Michael Louise Bradley (resigned 18.11.2022) David Edwin Rowland (appointed 18.11.2022) Nicholas Anthony Holme (appointed 18.11.2022) COMPANY SECRETARY Paul Stephen Carroll REGISTERED OFFICE Hill View Farm Fressingfield Suffolk IP21 5PY REGISTERED COMPANY NUMBER 02690838 (England and Wales) REGISTERED CHARITY NUMBER 1010064
Page 1
BADINAGE (REGISTERED NUMBER: 02690838)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Principal objects of the Charity are to promote, maintain and advance public education and extend public knowledge of all aspects and music generally, and especially Classical and Baroque chamber music, particularly by the presentation of concerts and the performance of music.
ACHIEVEMENT AND PERFORMANCE
The Charity has continued to create high-level performance opportunities in connection with its intensive work with emerging artists from extremely disadvantaged backgrounds. A number of innovative education projects, which have been launched to mark and celebrate the celebration of the 40th anniversary of Badinage in 2016, have been continuing and they include major composition projects for children in Newham, East London. Regular workshops have been created which involve school-children in the preparations for, and presenting of, especially tailor-made music involving them all and at their individual level of music competence. A series of important recordings are being lined-up in 2023/4 and prepared as part of the 40th anniversary of Badinage.
FINANCIAL REVIEW
Funds in surplus
The Charity has a surplus of income over expenditure for the year of £616 (2022: £386).
The total surplus carried forward at the year-end amounts to £5,425 (2022: £4,809).
Reserves policy
The General Fund represents the unrestricted funds arising from past operating results. It also represents the free reserves of the Charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Badinage is a charitable company limited by guarantee, incorporated on 25 February 1992 and registered as a charity. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, the members are required to contribute an amount not exceeding £1.
Recruitment and appointment of new trustees
Trustees shall be persons who through residence, occupation, employment or otherwise, have special knowledge of the area of benefit or who are otherwise, able by virtue of their personal or professional qualifications to make a contribution to the pursuit of the objects of the Charity.
Risk management
The Trustees have a duty to identify the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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BADINAGE (REGISTERED NUMBER: 02690838)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
TRUSTEES' RESPONSIBILITY STATEMENT
The Trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standard and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the surplus, or deficit, of the charitable company for that period. In preparing those financial statements, the Trustees are required to
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are responsible and prudent;
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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 which disclose, with reasonable accuracy, at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for the safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small companies.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 9 December 2023 and signed on its behalf by:
Tracey Anne Kellett - Trustee
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BADINAGE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 62,493 EXPENDITURE ON Charitable activities Musicians fee 61,877 NET INCOME 616 RECONCILIATION OF FUNDS Total funds brought forward 4,809 TOTAL FUNDS CARRIED FORWARD 5,425 |
2022 Total funds £ 118,133 |
|---|---|
| 117,747 | |
| 386 4,423 |
|
| 4,809 |
The notes form part of these financial statements
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BADINAGE (REGISTERED NUMBER: 02690838)
BALANCE SHEET 31 MARCH 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 4 | 1,059 | 1,059 |
| CURRENT ASSETS | |||
| Debtors | 5 | 5,395 | 4,779 |
| CREDITORS | |||
| Amounts falling due within one year | 6 | (1,029) | (1,029) |
| NET CURRENT ASSETS | 4,366 | 3,750 | |
| TOTAL ASSETS LESS CURRENT | LIABILITIES | 5,425 | 4,809 |
| NET ASSETS | 5,425 | 4,809 | |
| FUNDS | 7 | ||
| Unrestricted funds | 5,425 | 4,809 | |
| TOTAL FUNDS | 5,425 | 4,809 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 9 December 2023 and were signed on its behalf by:
Tracey Anne Kellett - Trustee
The notes form part of these financial statements
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BADINAGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
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the requirements of Section 7 Statement of Cash Flows;
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the requirement of paragraph 3.17(d);
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the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c).
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
continued...
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BADINAGE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
| 3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|---|
| Unrestricted | |||
| fund | |||
| £ | |||
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 118,133 | ||
| EXPENDITURE ON | |||
| Charitable activities | |||
| Musicians fee | 117,747 | ||
| NET INCOME | 386 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 4,423 | ||
| TOTAL FUNDS CARRIED FORWARD | 4,809 | ||
| 4. | TANGIBLE FIXED ASSETS | ||
| Fixtures | |||
| and | |||
| fittings | |||
| £ | |||
| COST | |||
| At 1 April 2022 and 31 March 2023 | 3,645 | ||
| DEPRECIATION | |||
| At 1 April 2022 and 31 March 2023 | 2,586 | ||
| NET BOOK VALUE | |||
| At 31 March 2023 | 1,059 | ||
| At 31 March 2022 | 1,059 | ||
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Other debtors | 5,395 | 4,779 |
continued...
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BADINAGE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 7. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 4,809 4,809 Incoming resources £ 62,493 62,493 At 1.4.21 £ 4,423 4,423 Incoming resources £ 118,133 118,133 |
2023 2022 £ £ 1,029 1,029 Net movement At in funds 31.3.23 £ £ 616 5,425 616 5,425 Resources Movement expended in funds £ £ (61,877) 616 (61,877) 616 Net movement At in funds 31.3.22 £ £ 386 4,809 386 4,809 Resources Movement expended in funds £ £ (117,747) 386 (117,747) 386 |
2023 2022 £ £ 1,029 1,029 Net movement At in funds 31.3.23 £ £ 616 5,425 616 5,425 Resources Movement expended in funds £ £ (61,877) 616 (61,877) 616 Net movement At in funds 31.3.22 £ £ 386 4,809 386 4,809 Resources Movement expended in funds £ £ (117,747) 386 (117,747) 386 |
2022 £ 1,029 |
|---|---|---|---|---|
| 386 |
continued...
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BADINAGE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.21 | in funds | 31.3.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 4,423 | 1,002 | 5,425 |
| TOTAL FUNDS | 4,423 | 1,002 | 5,425 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 180,626 | (179,624) | 1,002 |
| TOTAL FUNDS | 180,626 | (179,624) | 1,002 |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
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BADINAGE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Total incoming resources EXPENDITURE Charitable activities Musicians fees & expenses Support costs Finance Bank charges Other Telephone Administrative expenses Website CD Replication Governance costs Accountancy and legal fees Total resources expended Net income |
2023 £ 62,493 62,493 52,807 105 1,051 7,314 - - 8,365 600 61,877 616 |
2022 £ 118,133 |
|---|---|---|
| 118,133 88,946 92 3,054 16,573 2,592 5,890 |
||
| 28,109 600 |
||
| 117,747 | ||
| 386 |
This page does not form part of the statutory financial statements
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