Charity registration number: 1052126
CORY BAND TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Cory Band Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2—4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Comparative Statement of Financial Activities | 7 |
| Statement of Financial Position | 8 |
| Notes to the Financial Statements | 9—16 |
Cory Band Reference and Administrative Details For The Year Ended 31 December 2024
| Trustees | Mr N Blockley |
|---|---|
| Mr R A Davies | |
| Mr J Southcombe | |
| Charity Number | 1052126 |
| Principal Address | Ty Cory |
| Former Hebron Chapel | |
| Church Street | |
| Ton Pentre | |
| CF41 7AD | |
| Independent Examiner | Kara Williams BSc BFP FCA |
| Ellis Lloyd Jones LLP | |
| Chartered Accountants | |
| 11 Park Square | |
| Newport | |
| NP20 4EL |
Page 1
Cory Band Trustees' Report For The Year Ended 31 December 2024
The trustees present their report and the financial statements for the year ended 31 December 2024.
Objectives and Activities
Aims and Objectives
The objectives of the Cory Band are to educate the public in the musical arts, and in particular, the art of Brass Band playing; to further the development of public appreciation and taste in the said art by the presentation of concerts and other activities; to provide equipment, tuition, and all amenities necessary for the musical education of playing members; and for the social intercourse and general interests of members. Additionally, to support any charitable object that the committee shall direct.
The aims of the Charity for 2024 included:
-
developing new projects for the band alongside the Musical Director, Philip Harper;
-
performing consistently on the contest stage and look to win a major title;
-
developing and diversifying the type of concert engagements with a mix of promoter and self-promoted projects;
-
developing the Cory 10 Piece offering;
-
continuing to develop the Cory Academy initiative.
The management of the band will prepare a full calendar of rehearsals and performances, so that all members can be well prepared. The majority of rehearsals and performances will be directed by the Musical Director, Philip Harper. The management of the band will arrange sub-committees to ensure that all major aims for the year are achieved.
Through these goals, the band aims to promote the brand of The Cory Band at every opportunity and represent Wales with pride. These actions will ensure that the band remains at the very top of Brass Bands in the World.
Public Benefit
The Trustees believe that the charity benefits the public by providing access to music to all. It supports the development and appreciation of Brass Band music as an art form through dedicated rehearsals of all genres of music and performances in concerts and competitions which are open to the public. The band takes part in recordings which enable more people to enjoy the music and not just those who attend events. The band is dedicated to supporting the existence of the Brass Bands in Wales through youth development via Cory Academy, player development and commissioning of new music for the Brass Band repertoire.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Achievements and Performance
Main Achievements
-
During the year, the band agreed a significant partnership with Adams Percussion, who agreed to become the band’s long-term percussion partner and the band now have 2 sets of Adams Percussion equipment for rehearsals and performances.
-
Cory Band won the Brass in Concert Championships with their new musical programme ‘ The Magnificent Seven’ created by Musical Director Philip Harper.
-
Cory Band performed for the Composers Competition and Gala Concert for 2024 European Championships in Lithuania.
Educational Projects
Composition contest held in conjunction with Royal Welsh College of Music & Drama.
Held a 'Side by Side' event as part of Brass Band Residency at Royal Welsh College of Music & Drama.
Competitive success
11th place in the British Open
...CONTINUED
Page 2
Cory Band Trustees' Report (continued) For The Year Ended 31 December 2024
Main Achievements - continued
-
4th place in the National Championships of Great Britain
-
1st place in Brass in Concert
Financial Review
Financial Position
Total income for the year was £246,317 (2023: £274,241) and total expenditure was £162,325 (2023: £181,982). Donations included £20,000 of restricted income in relation to the European Contest Fund. The majority of income during the year was from charitable activities with £97,694 received from concerts (£108,598). The Trustees and wider Band wish to thank their supporters for their generous donations totalling £104,504 during the year (2023: £143,053). A new partnership with Adams Percussion was agreed with £40,000 sponsorship income recognised which relates to the market value discount received for new percussion instruments purchased in the year. Recording income of £8,841 was received in 2024 (2023: £2,500), although the release of the music was delayed until 2025 and so there was an overall decrease in CD and merchandise sales to £8,693 (2023: £17,269). There was an overall surplus of £70,795 on unrestricted funds (2023: surplus of £99,062) due to the sponsorship received through the percussion partnership. Unrestricted funds carried forward were £206,338, (2023: £135,543) including the desiganted builidng fund of £117,842 (2023: £119,447).
There was a restricted income donation of £20,000 this year and the restricted expenditure of £6,803 in the year related to depreciation charges for capital expenditure in previous years, as the assets are depreciated over their useful life (2023: £6,803). This created a surplus of £13,197 on the restricted fund in the year (2023: deficit of £6,803). The total restricted funds at 31 December 2024 were £37,181 (2023: £23,984). Total funds carried forward are £243,519 (2023: £159,527).
The financial climate for a musical organisation such as Cory Band remains challenging. Rising costs of travel and accommodation continues to impact the profitability of concerts undertaken and competition attendance in the UK and Europe, where there is minimal financial reward even if successful which can outweigh the costs to attend. The Trustees continue to review projects undertaken to balance the financial impact during these challenging times whilst continuing to meet the charity's objectives. The band is grateful for the various concert promoters who provided rewarding projects during the year and also to the numerous individual benefactors who generously donated throughout the year. Going into 2025, the management team will continue to assess the operating costs for the band and look at additional ways to generate income in line with the band's aims and objectives.
Plans for future periods
The Trustees will :
-
strive for continued excellence of performance on the contest and concert stage;
-
increase the activity and focus in the development of children and youth in learning to play a brass instrument; and
look for future opportunities for diversifying income streams and activities.
Structure, Governance and Management
Governing Document
The Cory Band is an unincorporated charity, (Charity number 1052126) which was registered with the Charity Commission on 16th January 1996. It is governed by its constitution, which was amended at a general meeting held on 28 September 2009.
Trustee Selection Methods
New Trustees will also be the appointed officials of the band as agreed and approved through the Annual General Meeting. These positions will be appointed from playing and non-playing members of the band. Individual skills and experience will be considered for these roles and agreed in line with the Constitution of the band.
All new Trustees will undertake any development training, which is deemed necessary for the role, and will be supported by the outgoing official for an agreed period of time.
Page 3
Cory Band Trustees' Report (continued) For The Year Ended 31 December 2024
Risks
Loss of Grant Income
Grant income is applied for in order to support specific projects. This form of income is unpredictable by nature and so the charity does not rely on it for it's basic operations and has multiple other sources of income. If in the future, grants were not made available, then the delivery of the full organisation objectives would be impacted. If this was the case, the associated costs for delivering those programmes would need to reduce accordingly.
Diminishing Audiences
The trustees have seen, in recent years, that audience figures are generally dropping for all arts organisations. Particularly with brass bands, the average age of the audience is a concern as it is generally an elderly audience. The Trustees are trying to address this with increasing educational work and promoting the band by different means, particularly developing global online audiences.
Cancelled Concerts
There is always a risk that a venue or promoter may cancel a concert at short notice because of a lack of audience. There is also risk involved when using promoters with regards to recovering payment once the event has taken place. The Trustees address this by providing as much support as possible to the promoters to market every concert. They also try to make sure that advance payment terms are adhered to.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Neil Blockley (Oct 31, 2025 19:21:18 GMT+4)
Mr N Blockley Trustee 31/10/2025
Robert Austin Davies (Oct 31, 2025 15:29:26 GMT)
Mr R A Davies Trustee
Page 4
Cory Band Independent Examiner's Report to the Trustees of Cory Band For The Year Ended 31 December 2024
I report to the trustees on my examination of the accounts of Cory Band (the Trust) for the year ended 31 December 2024.
Responsibilities and Basis of Report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Kara Williams
Kara Williams (Oct 31, 2025 15:32:22 GMT)
Kara Williams BSc BFP FCA 31/10/2025 11 Park Square Newport NP20 4EL
Page 5
Cory Band Statement of Financial Activities For The Year Ended 31 December 2024
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities: Concerts Contests Other trading activities 4 Other 5 EXPENDITURE ON: Charitable activities: 7 Concerts Contests Recordings Cory Academy Support cost NET INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 16 |
Unrestricted funds £ 84,504 97,694 4,962 21,432 17,725 |
Restricted funds £ 20,000 - - - - |
2024 Total funds £ 104,504 97,694 4,962 21,432 17,725 |
2023 Total funds £ 143,053 108,598 1,750 20,840 - |
|---|---|---|---|---|
| 226,317 | 20,000 | 246,317 | 274,241 | |
| (97,523) (44,337) (8,159) (2,157) (3,346) |
(6,803) - - - - |
(104,326) (44,337) (8,159) (2,157) (3,346) |
(109,591) (55,422) (10,487) (1,903) (4,579) |
|
| (155,522) | (6,803) | (162,325) | (181,982) | |
| 70,795 | 13,197 | 83,992 | 92,259 | |
| 70,795 135,543 |
13,197 23,984 |
83,992 159,527 |
92,259 67,268 |
|
| 206,338 | 37,181 | 243,519 | 159,527 |
The notes on pages 9 to 16 form part of these financial statements.
Page 6
Cory Band Comparative Statement of Financial Activities For The Year Ended 31 December 2024
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities: Concerts Contests Other trading activities 4 EXPENDITURE ON: Charitable activities: 7 Concerts Contests Recordings Cory Academy Support cost NET INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 16 |
Unrestricted funds £ 143,053 108,598 1,750 20,840 |
Restricted funds £ - - - - |
2023 Total funds £ 143,053 108,598 1,750 20,840 |
|---|---|---|---|
| 274,241 | - | 274,241 | |
| (103,808) (54,742) (10,147) (1,903) (4,579) |
(5,783) (680) (340) - - |
(109,591) (55,422) (10,487) (1,903) (4,579) |
|
| (175,179) | (6,803) | (181,982) | |
| 99,062 | (6,803) | 92,259 | |
| 99,062 36,481 |
(6,803) 30,787 |
92,259 67,268 |
|
| 135,543 | 23,984 | 159,527 |
The notes on pages 9 to 16 form part of these financial statements.
Page 7
Cory Band Statement of Financial Position As At 31 December 2024
| Notes FIXED ASSETS Tangible Assets 11 CURRENT ASSETS Stocks 12 Debtors 13 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 14 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: Amounts Falling Due After More Than One Year 15 NET ASSETS FUNDS OF THE CHARITY Restricted Funds Unrestricted Funds TOTAL FUNDS 16 |
Unrestricted funds £ 221,690 |
Restricted funds £ 17,181 |
2024 Total funds £ 238,871 |
2023 Total funds £ 180,567 |
|---|---|---|---|---|
| 221,690 4,900 5,988 5,646 |
17,181 - - 20,000 |
238,871 4,900 5,988 25,646 |
180,567 5,300 1,121 2,247 |
|
| 16,534 (11,886) |
20,000 - |
36,534 (11,886) |
8,668 (29,708) |
|
| 4,648 | 20,000 | 24,648 | (21,040) | |
| 226,338 | 37,181 | 263,519 | 159,527 | |
| (20,000) | - | (20,000) | - | |
| 206,338 | 37,181 | 243,519 | 159,527 | |
| 37,181 206,338 |
23,984 135,543 |
|||
| 243,519 | 159,527 |
On behalf of the board
Neil Blockley (Oct 31, 2025 19:21:18 GMT+4)
Robert Austin Davies (Oct 31, 2025 15:29:26 GMT)
Mr N Blockley Mr R A Davies Trustee Trustee 31/10/2025
The notes on pages 9 to 16 form part of these financial statements.
Page 8
Cory Band Notes to the Financial Statements For The Year Ended 31 December 2024
1. General Information
Cory Band is an unincorporated charity registered with the Charity Commission, registered charity number 1052126. The principal address is Ty Cory, Former Hebron Chapel, Church Street, Ton Pentre, CF41 7AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements 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 Charities Act 2011.
The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose. Restricted funds are to be used for specific purposes as laid down by the donor.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2.3. Incoming Resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
2.4. Resources Expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Page 9
Cory Band Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line Leasehold 12% straight line Plant & Machinery 12% straight line Motor Vehicles 20% straight line Uniforms, instruments, percussion and music 5-33% straight line Computer Equipment 20% straight line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the statement of financial activities. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the statement of financial activities.
2.7. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.8. Financial Instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
3. Income from Donations and Legacies
| Donations and gifts Member subscriptions and sponsorships |
Unrestricted funds £ 44,504 40,000 |
Restricted funds £ 20,000 - |
2024 Total funds £ 64,504 40,000 |
|---|---|---|---|
| 84,504 | 20,000 | 104,504 |
Page 10
Cory Band Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
| Donations and gifts Member subscriptions and sponsorships 4. Income from Other Trading Activities CD sales and merchandise Recording fees Other income 5. Other Income Gain on disposal of tangible fixed assets held for charity's own use 6. Net Income/(Expenditure) The net income is stated after charging/(crediting): Depreciation of tangible fixed assets - owned Gain/Loss on disposal of tangible fixed assets 7. Analysis of Expenditure Concerts Contests Recordings Cory Academy Support cost |
Unrestricted funds £ 142,065 988 |
Restricted funds £ - - |
2023 Total funds £ 142,065 988 |
|---|---|---|---|
| 143,053 | - | 143,053 | |
| Activities undertaken directly £ 104,326 44,337 8,159 2,157 475 |
2024 Unrestricted funds £ 8,693 8,841 3,898 |
2023 Unrestricted funds £ 17,269 2,500 1,071 |
|
| 21,432 | 20,840 | ||
| 2024 Unrestricted funds £ 17,725 |
2023 Unrestricted funds £ - |
||
| 2024 £ 15,679 (17,725) |
2023 £ 13,985 - |
||
| Support costs (see note 8) £ - - - - 2,871 |
2024 Total £ 104,326 44,337 8,159 2,157 3,346 |
||
| 159,454 | 2,871 | 162,325 |
Page 11
Cory Band Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
| Concerts Contests Recordings Cory Academy Support cost 8. Support Costs General administration Governance costs General administration Governance costs 9. Independent Examiner's Remuneration Independent examination of the financial statements 10. Average number of employees There were no employees during the current or previous year. |
Activities undertaken directly £ 109,591 55,422 10,487 1,903 - |
Activities undertaken directly £ 109,591 55,422 10,487 1,903 - |
Support costs (see note 8) £ - - - - 4,579 |
2023 Total £ 109,591 55,422 10,487 1,903 4,579 |
|---|---|---|---|---|
| 177,403 | 4,579 | 181,982 | ||
| 2024 £ 2,592 |
2024 Support cost £ 279 2,592 |
|||
| 2,871 | ||||
| 2023 Support cost £ 1,376 3,203 |
||||
| 4,579 | ||||
| 2023 £ 3,203 |
||||
Page 12
Cory Band Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
11. Tangible Assets
| Cost As at 1 January 2024 Additions Disposals As at 31 December 2024 Depreciation As at 1 January 2024 Provided during the period Disposals As at 31 December 2024 Net Book Value As at 31 December 2024 As at 1 January 2024 Cost As at 1 January 2024 Additions Disposals As at 31 December 2024 Depreciation As at 1 January 2024 Provided during the period Disposals As at 31 December 2024 Net Book Value As at 31 December 2024 As at 1 January 2024 12. Stocks CD stock & merchandise |
Land & Property Freehold £ 120,249 - - |
Plant & Machinery £ 66,594 - - |
Motor Vehicles £ 28,855 - - |
Uniforms, instruments, percussion and music £ 122,555 81,594 (32,933) |
|---|---|---|---|---|
| 120,249 | 66,594 | 28,855 | 171,216 | |
| 802 1,605 - |
29,586 7,991 - |
28,855 - - |
100,464 4,318 (25,322) |
|
| 2,407 | 37,577 | 28,855 | 79,460 | |
| 117,842 | 29,017 | - | 91,756 | |
| 119,447 | 37,008 | - | 22,091 | |
| Computer Equipment £ 27,458 - - |
Total £ 365,711 81,594 (32,933) |
|||
| 27,458 | 414,372 | |||
| 25,437 1,765 - |
185,144 15,679 (25,322) |
|||
| 27,202 | 175,501 | |||
| 256 | 238,871 | |||
| 2,021 | 180,567 | |||
| 2024 £ 4,900 |
2023 £ 5,300 |
Page 13
Cory Band Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
| 13. Debtors Due within one year Other debtors 14. Creditors: Amounts Falling Due Within One Year Bank loans and overdrafts Other creditors Accruals and deferred income 15. Creditors: Amounts Falling Due After More Than One Year Other creditors 16. Movement in Funds As at 1 January 2024 £ Unrestricted funds General: General unrestricted fund 16,096 Designated: Designated building fund 119,447 Total unrestricted funds 135,543 Restricted funds Cory Academy 289 Arts Council of Wales - Resilience Fund 1,593 The Coalfields Regeneration Trust 3,640 RCT Council - Welsh Church Act Fund 18,462 European Contest Fund - Total restricted funds 23,984 Total funds 159,527 |
13. Debtors Due within one year Other debtors 14. Creditors: Amounts Falling Due Within One Year Bank loans and overdrafts Other creditors Accruals and deferred income 15. Creditors: Amounts Falling Due After More Than One Year Other creditors 16. Movement in Funds As at 1 January 2024 £ Unrestricted funds General: General unrestricted fund 16,096 Designated: Designated building fund 119,447 Total unrestricted funds 135,543 Restricted funds Cory Academy 289 Arts Council of Wales - Resilience Fund 1,593 The Coalfields Regeneration Trust 3,640 RCT Council - Welsh Church Act Fund 18,462 European Contest Fund - Total restricted funds 23,984 Total funds 159,527 |
Income £ 226,317 - |
2024 £ 5,988 2024 £ 661 6,245 4,980 11,886 2024 £ 20,000 Expenditure £ (153,917) (1,605) |
2023 £ 1,121 |
|
|---|---|---|---|---|---|
| 2023 £ 846 21,253 7,609 |
|||||
| 29,708 | |||||
| 2023 £ - |
|||||
| As at 31 December 2024 £ 88,496 117,842 |
|||||
| 135,543 | 226,317 | (155,522) | 206,338 | ||
| 289 1,593 3,640 18,462 - |
- - - - 20,000 |
(109) (1,593) (840) (4,261) - |
180 - 2,800 14,201 20,000 |
||
| 23,984 | 20,000 | (6,803) | 37,181 | ||
| 159,527 | 246,317 | (162,325) | 243,519 |
Page 14
Cory Band Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
| Unrestricted funds General: General unrestricted fund Designated: Designated building fund Total unrestricted funds Restricted funds Cory Academy Arts Council of Wales - Resilience Fund The Coalfields Regeneration Trust RCT Council - Welsh Church Act Fund Total restricted funds Total funds |
As at 1 January 2023 £ 36,481 - |
Income £ 153,992 120,249 |
Expenditure £ (174,377) (802) |
As at 31 December 2023 £ 16,096 119,447 |
|---|---|---|---|---|
| 36,481 | 274,241 | (175,179) | 135,543 | |
| 398 3,186 4,480 22,723 |
- - - - |
(109) (1,593) (840) (4,261) |
289 1,593 3,640 18,462 |
|
| 30,787 | - | (6,803) | 23,984 | |
| 67,268 | 274,241 | (181,982) | 159,527 |
Desiganated Building Fund
The designated building fund consists of the freehold net book value of Ty Cory, the charity's rehearsal space that was kindly gifted to the charity during 2023. The expense each year relates to the depreciation charge over it's estimated useful life of 50 years.
Cory academy
The purpose of the Cory Academy fund is to pay for instruments and tutors for the Cory Academy, a youth outreach programme of the Cory Band.
Arts Council of Wales resilience & cultural recovery funds
These grants were received to support the revenue and committed overhead costs of the charity during the Covid-19 pandemic and to enable the organisation to return strongly when restrictions for Arts organisations and venues eased. The funds also enabled the band to purchase individual recording equipment to develop their remote online performances for a global audience and to develop new projects such as Virtual Online Brass Workshops and the Cory Online Championships. Depreciation of the equipment purchased will be allocated to the fund each year in line with the use of the asset.
Coalfields Regenerations Trust
This grant was received towards the costs of refurbishing and improving the charity's new base, Ty Cory, and the money was spent on the demolition of the existing internal structure and funding new windows to ensure the facility was suitably sound proofed. Depreciation of these improvements will be allocated to this fund each year to match the use of the asset for which the fund was received.
RCT Council - Welsh Church Act Fund
This grant was received towards the full internal refurbishment and re-configuration of the former Hebron Chapel (now known as Ty Cory) to create a suitable and accessible rehearsal and recording facility and additional community space for use by the charity and wider community. The money was spent on the leasehold property improvements in the year. Depreciation of these improvements will be allocated to this fund each year to match the use of the asset for which the fund was received.
European Contest Fund
This fund created in 2024 relates to income received towards the costs of the Band attending the 2025 European Championships. The income will be spent in 2025 when the band attends the event.
Page 15
Cory Band Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
17. Transactions with Trustees
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
No trustee expenses have been incurred.
18. Related Party Disclosures
During the year, Mr N Blockley, trustee, incurred costs of £14,371 (2023: £15,051) on behalf of the charity. The charity repaid Mr N Blockley £28,850 (2023: £5,250) during the year. At 31 December 2024, the charity owed Mr N Blockley £2,043 (2023: £16,522).
Total donations by trustees without conditions were £60 funds (2023: £60).
Page 16
Cory Band 2024 accounts & letter of rep
Final Audit Report
2025-10-31
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"Cory Band 2024 accounts & letter of rep" History
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Agreement completed. 2025-1(k31 - 15.'32'.22 GMT ELLIS LLOYD JONES Adobe A<robat Sign
Cory Band Ty Cory Former Hebron Chapel Church Street Ton Pentre Rhondda Cynon Taff CF41 7AD
Ellis Lloyd Jones Audit Limited 11 Park Square Newport NP20 4EL
Dear Sirs
We hereby confirm to the best of our knowledge and belief, having made appropriate enquiries of other trustees and officials of the charity, the following representations given to you in connection with your independent examination of the financial statements for the period ended 31 December 2024.
Representations
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1 We acknowledge as trustees our responsibility for making accurate representations to you and for the accounts which you have prepared on our behalf for the charity.
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2 We confirm that all accounting records have been made available to you for the purpose of your work and that all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all trustee and members’ meetings, have been made available to you.
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3 We confirm that, at the balance sheet date, the charity had no liabilities or provisions other than those recognised and no contingent liabilities other than those disclosed in the financial statements.
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4 We confirm that there had been no events since the balance sheet date which require disclosure or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.
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5 We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
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6 We confirm that there are no laws or regulations that are central to the charity’s ability to conduct its business.
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7 We confirm that, in our opinion, the charity’s financial statements should be prepared on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs.
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8 We confirm that you were not aware of any transactions with related parties requiring disclosure in the financial statements other than the disclosures made in note 18.
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9 We confirm that all grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income.
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10 We acknowledge our responsibility for the design and implementation of internal controls to prevent and detect fraud.
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11 We confirm that there have been no actual or suspected instances of fraud involving trustees, management or employees who have a significant role in internal control or that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud by former trustees, employees, regulators or others.
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12 We confirm that we are not aware of any matters of material significance that should be reported to the Charity Commission.
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13 We confirm that the value of stock at £4,900 is reasonably stated as at 31 December 2024.
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14 We confirm that the split in the accounts of the costs between concerts, contests, recordings, Cory Academy and education projects is reasonable.
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15 We confirm that there were no other loans made to the charity by trustees or other related parties, apart from the expenses incurred and repayments made to Mr N Blockley in the year as per note 18 to the accounts.
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16 We confirm that the breakdown of expenses incurred and repayments made to Mr N Blockley reflects all transactions in the year and the balance owed at 31 December 2024 is £2,043.
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17 We confirm that Trustees made a total of £60 in donations to the charity during the year ended 31 December 2024 and no conditions were attached to the donations.
Yours faithfully
We confirm that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and experience (and, where appropriate, of inspection of supporting documentation) sufficient to satisfy us that we can properly make each of the above representations to you.
Neil Blockley (Oct 31, 2025 19:21:18 GMT+4)
Robert Austin Davies (Oct 31, 2025 15:29:26 GMT)
………………………………………… ………………………………………… Mr N Blockley Mr R A Davies
On behalf of the trustees
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