## **THE ST. MARY'S CHURCH PORTSEA MUSIC FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31ST MARCH 2023** |**2023**
**Unrestricted**
**Restricted**
**Total**
**Fund**
**Funds**
**Funds**
Note
**£**
**£**
**£**
**INCOMING RESOURCES**
Voluntary Income
2a
3,423
194,951
198,374
Activities for generating funds
2b
939
268
1,207
Income from investments
2c
1,185
-
1,185
Income from Foundation activities
2d
277
-
277
**TOTAL INCOMING RESOURCES**
5,824
195,219
201,043
**RESOURCES EXPENDED**
Foundation Activities
3a
2,522
194,167
196,689
Governance
3b
-
-
-
**TOTAL RESOURCES EXPENDED**
2,522
194,167
196,689
**NET INCOMING (OUTGOING)**
**RESOURCES**
3,302
1,052
4,354
**LOSSES / GAINS ON INVESTMENTS**
4
(2,223)
-
(2,223)
**NET MOVEMENT OF FUND**
1,080
1,052
2,132
**BALANCE BROUGHT FORWARD**
49,452
43,789
93,240
**BALANCE CARRIED FORWARD**
5
50,531
44,841
95,372|**2023**
**Unrestricted**
**Restricted**
**Total**
**Fund**
**Funds**
**Funds**
Note
**£**
**£**
**£**
**INCOMING RESOURCES**
Voluntary Income
2a
3,423
194,951
198,374
Activities for generating funds
2b
939
268
1,207
Income from investments
2c
1,185
-
1,185
Income from Foundation activities
2d
277
-
277
**TOTAL INCOMING RESOURCES**
5,824
195,219
201,043
**RESOURCES EXPENDED**
Foundation Activities
3a
2,522
194,167
196,689
Governance
3b
-
-
-
**TOTAL RESOURCES EXPENDED**
2,522
194,167
196,689
**NET INCOMING (OUTGOING)**
**RESOURCES**
3,302
1,052
4,354
**LOSSES / GAINS ON INVESTMENTS**
4
(2,223)
-
(2,223)
**NET MOVEMENT OF FUND**
1,080
1,052
2,132
**BALANCE BROUGHT FORWARD**
49,452
43,789
93,240
**BALANCE CARRIED FORWARD**
5
50,531
44,841
95,372|**2022**
**Total**
**£**
383,724
671
1,514
222| |---|---|---| ||5,824
195,219
201,043
2,522
194,167
196,689
-
-
-
2,522
194,167
196,689
3,302
1,052
4,354
(2,223)
-
(2,223)
1,080
1,052
2,132
49,452
43,789
93,240
50,531
44,841
95,372|386,131| |||363,109
-| |||363,109| |||23,022
9,166| |||32,189
61,052| |||93,240| ## **THE ST. MARY'S CHURCH PORTSEA MUSIC FOUNDATION BALANCE SHEET 31ST MARCH 2023** |**THE ST. MARY'S CHURCH PORTSEA MUSIC FOUNDATION**
**BALANCE SHEET**
**31ST MARCH 2023**|**THE ST. MARY'S CHURCH PORTSEA MUSIC FOUNDATION**
**BALANCE SHEET**
**31ST MARCH 2023**|**THE ST. MARY'S CHURCH PORTSEA MUSIC FOUNDATION**
**BALANCE SHEET**
**31ST MARCH 2023**||| |---|---|---|---|---| |**Notes**
**2023**
**£**
**£**
**INVESTMENTS at Market Value**
4
CBF Investment Fund - Income Units
43,705
CBF Investment Fund - Fixed Interest Securities Fund
8,952
52,657
**CURRENT ASSETS**
CBF Deposit Account
-
Natwest Current Account
36,939
Loan to PCC
5,776
Debtors
-
42,715
Less Creditors
-
42,715
95,372
**FUNDS**
Unrestricted
5
59,697
Restricted
5
35,675
95,372|||**2022**
**£**
**£**
45,315
9,564|| ||-
36,939
5,776
-|52,657






42,715
95,372
59,697
35,675
95,372|-
19,585
18,776
-|54,879






38,361| ||42,715
-||38,361
-|| |||||| |||||93,240| |||||58,618
34,622| |||||93,240| **Approved by the Trustees on 1st July 2023 and signed on their behalf** **…………………………………. Revd. Canon Bob White** ## **THE ST. MARY'S CHURCH PORTSEA MUSIC FOUNDATION NOTES FORMING PART OF THE ACCOUNTS 31ST MARCH 2023** ## **1. Accounting Policies** ## **(a) Basis of Accounting** The accounts have been prepared on the historical cost convention and are in accordance with applicable accounting standards and the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP) 2005. ## **(b) Income** All income is recognised in the year in which it is received. Income tax recoverable on Gift Aid donations is recognised when the income is recognised. ## **(c) Income from Investments** ## **(d) Expenditure** All expenditure is included on an accruals basis. ## **2. INCOMING RESOURCES** |a. Voluntary Income
Donations and Grants
Gift aid
Organist Grant (CO-OP)
b. Generating Funds
Fundraising
Portsmouth Lottery
Amazon SMILE
100 Club
c. Income from Investments
Interest on CBF deposit account
Dividends
d. Income from Foundation activities
Concerts and Organ recitals
Contributions to Tour
e. Unrealised Investment Surplus
**TOTAL INCOMING RESOURCES**|**2023**
**2022**
**Unrestricted**
**Restricted**
**Total**
**Total**
**Fund**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**£**
1,427
194,951
196,378
378,368
74
-
74
421
1,922
-
1,922
4,934| |---|---| ||3,423
194,951
198,374
383,724| ||757
-
757
347
15
-
15
80
23
-
23
26
144
268
412
218| ||939
268
1,207
671| ||-
-
-
-
1,185
-
1,185
1,514| ||1,185
-
1,185
1,514| ||277
-
277
222
-
-
-
-| ||277
-
277
222| ||| ||(2,223)
-
(2,223)
9,166| ||3,601
195,219
198,820
395,297| **6** ## **THE ST. MARY'S CHURCH PORTSEA MUSIC FOUNDATION NOTES FORMING PART OF THE ACCOUNTS (continued) 31ST MARCH 2023** ## **3. RESOURCES EXPENDED** |a. Foundation activities
Director of Music Fees
Music Lessons
Assistant Organist
Concert Costs
Chorister Rewards
Bursaries
Subscriptions
Organ Fund
Choir Tours
b. Governance
Bank Charges
**TOTAL RESOURCES EXPENDED**
**4. INVESTMENTS**
Quoted investments
Market Value at 1st April
Unrealised surplus
Market Value at 31st March
Historical Cost at 31st March 2011
**5. Reserves**
Unrestricted - General Fund
Restricted - Choir Tour Fund
- 100 Club Prize Fund
- Organist Fund
- Organ Fund|**Unrestricted**
**Restricted**
**Fund**
**Funds**
**£**
**£**
754
-
1,300
-
-
364
111
-
-
-
-
600
357
-
-
193,203
-
-|**2023**
**2022**
**Total**
**Total**
**Funds**
**Funds**
**£**
**£**

754
1,331

1,300
936

364
270

111
-

-
271

600
60

357
280

193,203
359,961

-
-|**2023**
**2022**
**Total**
**Total**
**Funds**
**Funds**
**£**
**£**

754
1,331

1,300
936

364
270

111
-

-
271

600
60

357
280

193,203
359,961

-
-| |---|---|---|---| ||2,522
194,167|
196,689
363,109|| ||-
-|-
-|| ||2,522
194,167|
196,689
363,109|| ||**Opening**
**Income**
**Balance**
**£**
**£**
58,618
3,601|**2023**
**2022**
**£**
**£**
54,879
45,713
(2,223)
9,166|| |||52,657|
54,879| |||25,109
**Expenditure**
**Closing**
**Balance**
**£**
**£**

(2,522)
59,697|25,109| ||**£**
**£**
441
-
-
268
4,664
-
29,517
194,951|**£**
**£**

-
441

-
268

(964)
3,700

(193,203)
31,265|| ||34,622
195,219|
(194,167)
35,675||