Draft Financial Statements at 22 March 2024 at 14:49:07
Charity registration number 1059501
Company registration number 03265081 (England and Wales)
HYDE BAND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Draft Financial Statements at 22 March 2024 at 14:49:07 HYDE BAND
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | G Cook | |
|---|---|---|
| Mrs J Easterbrook-Grimmett | ||
| Mr J Cook | ||
| N Grimmett | ||
| P Jung | (Appointed 28 February 2023) | |
| R Wright | (Appointed 28 February 2023) | |
| A Johnson | (Appointed 28 February 2023) | |
| S Howes | (Appointed 26 January 2024) | |
| Secretary | N Grimmett | |
| Charity number | 1059501 | |
| Company number | 03265081 | |
| Registered office | Woodville (formerly Winston) | |
| New Road | ||
| Mockbeggar | ||
| Ringwood | ||
| BH24 3NJ | ||
| Independent examiner | Hill Osborne | |
| Tower House | ||
| Parkstone Road | ||
| Poole | ||
| BH15 2JH |
Draft Financial Statements at 22 March 2024 at 14:49:07 HYDE BAND
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 10 |
Draft Financial Statements at 22 March 2024 at 14:49:07 HYDE BAND
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their annual report and financial statements for the year ended 31 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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
Public benefit statement:
“The object of the Charity is defined within paragraph 3(A) of the Memorandum and Articles of Association of Hyde Band, namely to advance education through the performance, promotion, support and encouragement of music and in particular the training, performance, promotion, encouragement and appreciation of music”
Objectives and aims
The advancement of education through performance, promotion, support and encouragement of music. In particular, the training, performance, promotion, encouragement and appreciation of music.
The charitable objects will be achieved by establishing the band as a financially stable band with committed and loyal players, supporters and band officers and to provide performances of the highest musical standard to encourage and promote the appreciation of brass band music within both the local and wider community.
Other strategies include the continued introduction into the senior band of players from the established training band.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Significant activities
2023 has been a busy year for the band and this year we have played at many engagements such as concerts at Breamore House, Woodgreen Cricket Pitch, Fordingbridge Steam Up, St Francis Church in Salisbury, RBL Ferndown and as always we led the Remembrance parade in Fordingbridge and at Christmas we played Carols at The Old Beams, The Railway – Fordingbridge, The Bat & Ball and The potting Shed as well as all around Fordingbridge in the evenings We delivered Christmas concerts at Sandy Balls, Greyfriars in Ringwood to name but a few.
During 2023 We also competed in West of England Regionals in Torquay in March and The WBBA Winter Contest in Ringwood in November.
The “Dream Team’ that is Phil Randall and Nigel Seaman continues to work tremendously well for the band and the playing members very much enjoy playing under such an experienced and talented pair. We will hear from both of them later in the meeting and can only hope that they feel the same way about conducting us.
We continue to rehearse at Hale Park House and will do until the new band room is ready for us. In addition, the band hall build has finally started.
We are very thankful for all the donations and grants that we have received so far. But still need to raise much more. Now that building has started the fund that we have already raised are being used on materials etc… We were also unfortunate enough to have our Septic Tank stolen from the Band Hall Build site.
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Draft Financial Statements at 22 March 2024 at 14:49:07 HYDE BAND
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
The new committee would welcome any new ideas for fundraising.
At present we are again knuckling down hard for the West if England Regionals in Torquay in March.
In conclusion the outgoing directors would like to thank all players, members, life members, the president and vice presidents and of course our supporters over that past year. We would also like to extend our thanks to all those who have donated to Building for Brass fund.
Achievements and performance
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
G Cook
Mr J Easterbrook-Grimmett (Resigned 1 March 2023) Mrs J Easterbrook-Grimmett Mr J Cook S Bird (Resigned 1 February 2023) N Grimmett P Jung (Appointed 28 February 2023) R Vincent (Appointed 28 February 2023 and resigned 26 January 2024) R Wright (Appointed 28 February 2023) A Johnson (Appointed 28 February 2023) S Howes (Appointed 26 January 2024)
Organisational structure
The company is managed by a board of directors who act as trustees.
The trustees' report was approved by the Board of Trustees.
.............................. Mrs J Easterbrook-Grimmett Director and Trustee Dated: .........................
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Draft Financial Statements at 22 March 2024 at 14:49:07 HYDE BAND
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HYDE BAND
I report to the trustees on my examination of the financial statements of Hyde Band (the charity) for the year ended 31 December 2023.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
Lucia Ball FCA Hill Osborne
Tower House Parkstone Road Poole BH15 2JH
Dated: .........................
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Draft Financial Statements at 22 March 2024 at 14:49:07 HYDE BAND
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 2 | 22,430 | 9,074 |
| Charitable activities | |||
| Engagement fees | 3 | 4,337 | 4,345 |
| Investments | 4 | 207 | 25 |
| Total income | 26,974 | 13,444 | |
| Charitable activities | 5 | 15,570 | 13,681 |
| Net income/(expenditure) and movement in funds | 11,404 | (237) | |
| Reconciliation of funds: | |||
| Fund balances at 1 January 2023 | 33,613 | 33,850 | |
| Fund balances at 31 December 2023 | 45,017 | 33,613 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Draft Financial Statements at 22 March 2024 at 14:49:07 HYDE BAND
BALANCE SHEET
AS AT 31 DECEMBER 2023
| Notes Fixed assets Tangible assets 9 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities The funds of the charity Unrestricted funds |
2023 £ 28,182 720 |
£ 17,555 27,462 45,017 45,017 45,017 |
2022 £ 30,861 600 |
£ 3,352 30,261 |
|---|---|---|---|---|
| 33,613 | ||||
| 33,613 | ||||
| 33,613 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on .........................
..............................
Mrs J Easterbrook-Grimmett
Trustee
Company registration number 03265081 (England and Wales)
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Draft Financial Statements at 22 March 2024 at 14:49:07 HYDE BAND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
Charity information
Hyde Band is a private company limited by guarantee incorporated in England and Wales. The registered office is Woodville (formerly Winston), New Road, Mockbeggar, Ringwood, BH24 3NJ.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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Draft Financial Statements at 22 March 2024 at 14:49:07 HYDE BAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
(Continued)
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. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Freehold land and assets in the course of construction are not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Donations and gifts | 22,430 | 9,074 |
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Draft Financial Statements at 22 March 2024 at 14:49:07 HYDE BAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
| 2 | Income from donations and legacies | (Continued) | |
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Donations and gifts | |||
| Donations | 12,637 | 7,678 | |
| Donations Gift Aid | 2,729 | 1,396 | |
| Gift Aid reclaim | 7,064 | - | |
| 22,430 | 9,074 | ||
| 3 | Income from charitable activities | ||
| Engagement | Engagement |
||
| fees | fees | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Engagement fees | 4,337 | 4,345 | |
| Analysis by fund | |||
| Unrestricted funds | 4,337 | 4,345 | |
| 4 | Income from investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Deposit account interest | 207 | 25 |
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Draft Financial Statements at 22 March 2024 at 14:49:07 HYDE BAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
5 Charitable activities
| Administration Insurance Rent & Services Musical director fees Contest expenses Subscriptions Accountancy fees |
2023 £ 1,059 1,474 - 7,110 4,934 165 14,742 828 15,570 |
2022 £ 1,139 1,315 972 5,380 3,810 387 |
|---|---|---|
| 13,003 678 |
||
| 13,681 |
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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Draft Financial Statements at 22 March 2024 at 14:49:07 HYDE BAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
9 Tangible fixed assets
| Tangible fixed assets | ||
|---|---|---|
| Land and | ||
| buildings | ||
| £ | ||
| Cost | ||
| At 1 January 2023 | 3,352 | |
| Additions | 14,203 | |
| At 31 December 2023 | 17,555 | |
| Carrying amount | ||
| At 31 December 2023 | 17,555 | |
| At 31 December 2022 | 3,352 | |
| Creditors: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Accruals and deferred income | 720 | 600 |
10 Creditors: amounts falling due within one year
11 Designated funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| Movement | Movement | |||||
|---|---|---|---|---|---|---|
| in funds | in funds | |||||
| Balance at | Incoming | Balance at |
Incoming | Balance at | ||
| 1 | January 2022 | resources | 1 January 2023 | resources | 31 December | |
| 2023 | ||||||
| £ | £ | £ | £ | £ | ||
| Bandroom | 20,068 | 5,185 | 25,253 | 2,000 | 27,253 | |
| 20,068 | 5,185 | 25,253 | 2,000 | 27,253 |
12 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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