DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Contents
| Reference and administrative details | 2 |
|---|---|
| Trustees' Report | 2 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 |
DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Reference and Administrative details
Charity Name: The Royal Scottish Country Dance Society, London Branch Registered Charity No: 1067690
Trustees
The following persons held office as Trustees during the period to 31 March 2024, through to the Annual General meeting on 08 June 2024.
Joanne Lawrence Chair Richard Clarke Vice Chair Mel Rowland Secretary Simon Wales Treasurer Adam Brady, Elaine Davies, David Hall, Margaret Moore, Wendy Morris, Thelma-Jane Robb and Margaret Shaw
Examiner Helen Ives, ACA 80 Bladindon Drive, Bexley. DA5 3BN Bankers Bank of Scotland 33 Old Broad Street Branch, PO Box 1000, BX2 1LB
Trustees' Report for the year to 31st March 2024
Structure, Governance and Management
Historical Information
The Society was formed in 1923 as the Scottish Country Dance Society, becoming the Royal Scottish Country Dance Society in 1951. The London Branch was formed in 1930 and is a registered charity, governed by the constitution adopted on 16 May 1997, as subsequently amended.
Governance structure
The Branch is governed in accordance with relevant UK Laws and regulations, and in further order of precedence:
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a) The registered charity’s Constitution and Rules
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b) Motions passed by the Branch in General Meeting
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c) Decisions made by the Management Committee
The Management Committee is the governing body of the Branch and meets at least 4 times a year.
Appointment of Trustees
Elections are held annually by the Branch in General Meeting. Only Branch members aged 18 or over can be elected to the Committee, and when elected, automatically become Trustees. The Chair is elected for a three year term.
On 31 March 2024 there were 7 ordinary members of the Committee. All Trustee positions are voluntary and unpaid, as are all other support roles created by the Management Committee as necessary, such as Membership Secretary, Reel Editor, Reel Business Editor and Archivist.
Society and Branch Membership
The Society is based in Scotland with a worldwide membership. Members form autonomous Local Associations traditionally named Branches which link to the Society by a licence agreement.
London Branch membership in March 2024 was 258 annual members, 75 life members and 42 second branch members - a small increase in annual members, but an overall decrease on the previous year. About 99 members have opted to receive The Reel electronically, but some receive both a paper and electronic copy.
Objectives and Activities
The principal objective of the Branch is to advance the education of the public in the London area in traditional Scottish country dancing.
This is fulfilled by:
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a) Preserving and furthering the practice of traditional Scottish dances
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b) Providing or assisting in providing instruction in the dancing of Scottish country dances
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c) Promoting the enjoyment and appreciation of Scottish country dancing and music by any suitable means
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DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Trustees' Report for the year to 31st March 2024 (Continued)
Achievements and performance during the year
2023-24 has been a season of innovation and introduction with new classes and a new venue plus new musicians, new dancers, and an extended range of teachers.
RSCDS London Branch’s objectives for this season were to continue work on widening its appeal to new dancers and to support the existing Beginners/Improvers and Technique class members. We wanted to provide greater opportunities for more advanced dancers with monthly teaching sessions as well as an advanced Dancing Achievement Award course. We also hoped to access training for new MCs.
The delivery of these plans has been helped significantly by our new venue, at Maria Fidelis School, near Euston Station. We have been made very welcome, the facilities are excellent, and the convenient location has made it much easier for (most) people to get there. We are looking forward to holding our Day School and Musicians’ Workshop there in October.
Regular weekly classes have continued at St Columba’s and Richmond as well as at Maria Fidelis. Class numbers remain strong, supplemented by enthusiastic new dancers from Richmond and the 8 week Beginners’ course at Maria Fidelis, as well as people returning to dance after a gap of some years. Six of our younger dancers travelled to Cambridge for Spring Fling and RSCDS London Branch will be very well represented at RSCDS Summer School too.
Our first new monthly class, the Tuesday Social (introduced in 2022 for dancers in their 20s and 30s), has continued to flourish. This season we added a monthly Technique class (for intermediate and more advanced dancers), a Fast-Paced Social Dance class (for advanced and very advanced dancers) and, since January, a Children’s class in partnership with St Columba’s Church. It has been most encouraging to welcome so many new and returning dancers to these classes and we are grateful to the teachers, musicians and administrators who have made it possible.
The Dancing Achievement Award (DAA) course which we proposed to run did not attract enough interest to proceed but we were delighted to support the RSCDS Basic Teaching Skills course, delivered by serTA, which has provided 6 new MCs for London and the South-east. In place of the DAA, we hope to launch a ‘Festival’ Class in the new season with the objective of taking one or more teams of dancers to a non-competitive dance festival in Summer 2025.
Dance attendance has continued to strengthen, beginning with high numbers at the Kensington Gardens dances in August and peaking with the phenomenally well attended (and well catered) Burns event in January. The New Season dance has continued as the exception to this positive trend and so we have decided to try a fresh approach, launching our 2024-25 season with a Saturday Tea Dance at Maria Fidelis School.
We have been fortunate to have been able to underwrite new (and longstanding) activities from Branch funds and the successes described above have shown a reassuring return on investment. We will continue to invest in the development of Scottish country dancing in London. Towards this end, the management committee has reviewed the bursaries previously available from the Branch and has approved a range of funding opportunities for dancers, musicians and teachers to access training and extend their experience. These, as well as information regarding all classes, events and other branch matters, will be publicised via the Branch website, relaunched in June 2023, and via social media, eUpdate and The Reel.
In conclusion, thanks are due to all those who have contributed to the Branch’s successes: in no small part due to Joanne Lawrence whose three-year term as Chair has finished, and to Mel Rowland, who is stepping down after supporting the Branch so well as committee member and Honorary Secretary since 2019.
The Branch continues to thrive due to the interest and commitment of its teachers, musicians, caterers, organisers, MCs and, of course, dancers - too many to mention by name here but all playing a valuable role in the life of RSCDS London Branch. Thank you and we look forward to dancing together in the new season and beyond.
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DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Trustees' Report for the year to 31st March 2024 (Continued)
Financial Review for the year 1 April 2023 – 31 March 2024
At 31 March 2024 the Branch's net worth of £72,041 (2023 £75,046) was represented by the undernoted funds:
| 2024 | 2023 | |||
|---|---|---|---|---|
| General Fund | 61,028 | 63,633 | ||
| Ireland | 3,344 | 3,544 | ||
| Anniversary Fund | 2,069 | 2,069 | ||
| Helen Brown | 5,000 | 5,000 | ||
| Teaching Awards | 600 | 800 | ||
| Total net worth | £ | 72,041 |
£ | 75,046 |
The value of these funds is supported by the Branch's holdings of investments and cash at hand, shown in the Balance Sheet.
Reserves Policy
The policy for unrestricted reserves is to hold sufficient funds to enable the activities of the Branch to take place in the face of poor income generation in any year. The budget is balanced each year, with some specific items being funded from designated funds. The reserves have decreased this year by an unrealised loss on investments of £934, a much healthier performance than last year.
The designated funds have been donated for specific purposes and are spent in accordance with the donor's request.
Results for the year
The accounts show a net operating loss of £2,071, before the unrealised loss on investments of £934.
Classes
With class fees of £18,722 and costs of £23,990, classes have cost us £5,268 which is on a par with last year. Halls have been more expensive, but this has been offset by increased attendance in all classes. We continue to invest in the development of the Tuesday Socials, which is bringing more younger dancers to other classes and events, in London and further afield such as RSCDS Spring Fling.
Family Activities
A monthly Children's Class has just restarted with the support of St Columba's Church, and the costs here reflect our investment.
Dances
Income of £11,663 and expenditure of £8,156 meant a surplus of £3,507. This was largely as a result of an enormously successful Burns ceilidh. The one dance which is making a substantial loss is the New Season dance, so we are changing this for September 2024 with an afternoon tea dance.
Publicity and The Reel
The Reel made a loss of £1,404 which was a slight improvement on last year. Advertising revenue has not picked up, and we have no commercial advertisers any more. The Committee has decided to continue to make this investment in our publicity. There was £1,911 expenditure on publicity, mostly for the open air dancing in Kensington Gardens, and also the website. This was just less than the £2,000 budget we had set.
Administration Costs
The only other figure to comment on is the admin costs of £673. This is made up as follows:
Postage, secretarial and other £284 Insurance £105 AGM Expenses £159 Examiner £100 Church Officer leaving gift £25
Committee meetings were again on Zoom, so there were no costs for Branch committee meetings this year.
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DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Trustees' Report for the year to 31st March 2024 (Continued)
Financial Review for the year 1 April 2023 – 31 March 2024 (Continued)
Donations and Legacies
Donations and legacies raised a further £147. Most donations benefited from the tax reclaim from HMRC for gift aid.
We are very fortunate to have the various bequests which enable us to tackle projects in the knowledge that we have sufficient funds to back them up. We made one award from the Bill Ireland fund for two young dancers to attend the RSCDS Spring Fling and made a contribution to serTA towards the cost of a course attended by London Branch members.
Membership
Annual membership has risen slightly, but second branch membership has declined. The RSCDS subscription will be increasing again in July 2024, and the effect of that on numbers remains to be seen.
Investment Income
Investment income from Charifund Units was slightly up, and contributed a total of £2,971.
Statement of Trustees Responsibilities
Company law requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources for that period.
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.
In preparing financial statements giving a true and fair view, the Trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgements and estimates which are reasonable and prudent;
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State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with relevant legislation. They are also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware:
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There is no relevant audit information of which the Charity’s examiner is unaware, and
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The Trustees have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the examiner is aware of that information.
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DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Trustees' Report for the year to 31st March 2024 (Continued)
Financial Statements
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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 issued in October 2019.
This report has been prepared in accordance with all relevant legislation.
This report was formally approved by the Trustees, and signed on their behalf by: Noayvune [AW DocuSigned by: Joanne Lawrence 4D8BD41043F 3484... Trustee / Chair
Date: 6/3/2024
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DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Independent Examiner's Report to the Management Committee of the Royal Scottish Country Dance Society London Branch
I report on the accounts for the Royal Scottish Country Dance Society London Branch for the year ended 31st March 2024, which are set out on pages 2 to 14.
Respective responsibilities of Trustees and Examiner.
As the Charity's Trustees 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 Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
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:
1 accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2 the accounts do not accord with those records; or 3 the accounts do not comply with the applicable requirements concerning the form and content 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.
Signed:
Date: 6/3/2024 5CED48E3D56545C... Name: Helen Ives ACA Institute of Chartered Accountants of England and Wales Address: 80 Bladindon Drive, Bexley. DA5 3BN
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DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Statement of financial activities for the year ended 31 March 2024
| Notes Income Donations and legacies Investments Income from charitable activities Subscriptions Branch Fees RSCDS HQ Subs collected Generated Income Class Fees Practice Dances Sales of Books, recordings accessories Newsletter "The Reel" Total Charitable activities Fund raising activities Total income Expenditure Expenditure on charitable activities Subscriptions RSCDS subs paid over to HQ Paypal and Direct Debit Charges Activities undertaken directly Hire of halls for classes Teachers, musicians & incidental expenses Family Activities Practice Dances Publicity, including printing Travel etc. teacher / musician training Newsletter "The Reel" 2 Support costs charitable activities Total Expenditure on charitable activities Expenditure on Fund Raising 2 Support Costs Raising Funds Total expenditure Net gains/(losses) on investments Net income before transfers 8 Gross transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward Net income / (loss) before other recognised |
General Fund £ £ 147 2,971 1,688 5,943 7,631 18,722 11,663 0 4,232 34,616 42,247 0 45,366 (5,943) (618) (6,561) (15,030) (8,960) (110) (8,156) (1,911) 0 (5,636) (673) (40,476) (47,037) 0 0 (47,037) (1,671) (934) (2,605) 0 (2,605) 63,633 61,028 |
General Fund £ £ 147 2,971 1,688 5,943 7,631 18,722 11,663 0 4,232 34,616 42,247 0 45,366 (5,943) (618) (6,561) (15,030) (8,960) (110) (8,156) (1,911) 0 (5,636) (673) (40,476) (47,037) 0 0 (47,037) (1,671) (934) (2,605) 0 (2,605) 63,633 61,028 |
Designated Funds £ £ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (400) 0 0 (400) (400) 0 0 (400) (400) 0 (400) 0 (400) 11,413 11,013 |
Designated Funds £ £ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (400) 0 0 (400) (400) 0 0 (400) (400) 0 (400) 0 (400) 11,413 11,013 |
Total 2024 £ £ 147 2,971 1,688 5,943 7,631 18,722 11,663 0 4,232 34,616 42,247 0 45,366 (5,943) (618) (6,561) (15,030) (8,960) (110) (8,156) (1,911) (400) (5,636) (673) (40,876) (47,437) 0 0 (47,437) (2,071) (934) (3,005) 0 (3,005) 75,046 72,041 |
Total 2024 £ £ 147 2,971 1,688 5,943 7,631 18,722 11,663 0 4,232 34,616 42,247 0 45,366 (5,943) (618) (6,561) (15,030) (8,960) (110) (8,156) (1,911) (400) (5,636) (673) (40,876) (47,437) 0 0 (47,437) (2,071) (934) (3,005) 0 (3,005) 75,046 72,041 |
Total 2023 £ £ 307 2,885 1,848 5,485 7,333 14,524 9,925 54 4,440 28,943 36,276 0 39,468 (5,485) (344) (5,829) (10,730) (9,417) 0 (7,964) (1,628) (300) (5,917) (865) (36,821) (42,650) 0 0 (42,650) (3,182) (3,337) (6,519) 0 (6,519) 81,565 75,046 |
Total 2023 £ £ 307 2,885 1,848 5,485 7,333 14,524 9,925 54 4,440 28,943 36,276 0 39,468 (5,485) (344) (5,829) (10,730) (9,417) 0 (7,964) (1,628) (300) (5,917) (865) (36,821) (42,650) 0 0 (42,650) (3,182) (3,337) (6,519) 0 (6,519) 81,565 75,046 |
|---|---|---|---|---|---|---|---|---|
| (47,037) | (400) | (47,437) | (42,650) | |||||
| (1,671) (934) (2,605) 0 |
(400) 0 (400) 0 |
(2,071) (934) (3,005) 0 |
(3,182) (3,337) (6,519) 0 |
|||||
| (2,605) 63,633 |
(400) 11,413 |
(3,005) 75,046 |
(6,519) 81,565 |
|||||
| 61,028 | 11,013 | 72,041 | 75,046 |
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DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Balance Sheet as at 31st March 2024
| Desigated | |||||
|---|---|---|---|---|---|
| Notes | General Fund | Funds | 2024 Total | 2023 Total | |
| £ | £ | £ | £ | ||
| Fixed assets: | |||||
| 3 | Tangible Assets | 0 | 0 | 0 | 0 |
| 4 | Investments | 50,308 | 0 | 50,308 | 51,242 |
| 50,308 | 0 | 50,308 | 51,242 | ||
| Current Assets: | |||||
| Stock | 0 | 0 | 0 | 0 | |
| 5 | Debtors | 23 | 0 | 23 | 61 |
| Cash in bank and in hand | 11,913 | 11,013 | 22,927 | 25,280 | |
| 11,936 | 11,013 | 22,950 | 25,341 | ||
| Liabilities: | |||||
| 6 | Creditors: amounts falling due within one year | (1,181) | 0 | (1,181) | (1,461) |
| Net Current Assets | 10,756 | 11,013 | 21,769 | 23,880 | |
| Total Assets less Current Liabilities | 61,064 | 11,013 | 72,077 | 75,122 | |
| 7 | Creditors: amounts falling due after one year | (36) | 0 | (36) | (76) |
| Total net assets | 61,028 | 11,013 | 72,041 | 75,046 | |
| The funds of the charity: | |||||
| 8 | Unrestricted Funds | 61,028 | 11,013 | 72,041 | 75,046 |
| Total Charity Funds | 61,028 | 11,013 | 72,041 | 75,046 |
Joanne Lawrence, Trustee / Chair[[Yawrure]][[Soave]] DocuSigned by: 6/3/2024 Date: 4D8BD41043F 3484...
[[Yawrure]] |[[Soave]] DocuSigned by: 6/3/2024
For and on behalf of the Management Committee
The notes on pages 10 to 14 form part of these accounts
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DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Notes to the Accounts for the Year ended 31st March 2024
1 Accounting Policies
The following accounting policies have been applied consistently in dealing with the items which are considered material in relation to the Charity's financial statements.
Basis of accounting
The financial statements have been prepared under the historical cost convention with items recognised at cost or fair value unless otherwise stated in the relevant notes to these financial statements.
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Charity constitutes a public benefit entity as defined by FRS 102.
Going concern
The financial statements have been prepared on a going concern basis which assumes that the Charity will continue in operation for the foreseeable future. Having considered the future operations of the Charity, the Trustees consider that the going concern basis is appropriate for the preparation of these financial statements.
Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are recognised when the Charity has evidence of the entitlement to the gift, receipt is probable and its amount can be measured reliably. Entitlement usually arises immediately upon receipt, however, in the event that a donation is subject to conditions that require a level of performance before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that those conditions will be fulfilled in the reporting period.
Income tax recoverable on Gift Aid donations is recognised when the respective donation has been recognised and the recoverable amount of income tax can be measured reliably; this is normally when the donor has completed the relevant Gift Aid declaration form. Income tax recoverable on Gift Aid donations is allocated to the same fund as the respective donation unless specified by the donor.
Income from other trading actives includes income earned from both trading activities to raise funds for the Charity and income from fundraising events and is recognised when the Charity has entitlement to the funds, it is probable that these will be received and the amounts can be measured reliably.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.
Investment income is recognised when the unit holders right to receive payment is established, measured at the fair value receivable. Generally, this is upon notification from the investment advisor once the dividend has been declared.
Other income represents income that cannot be reported under the other analysis headings provided within the Statement of Financial Activities and is recognised when the Charity is entitled to the income, it is probable that it will be received and the amount can be measured reliably by the Charity.
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DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Notes to the Accounts for the Year ended 31st March 2024
1 Accounting Policies (continued)
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 settlement will be required and the amount of the obligation can be measured or estimated reliably.
Liabilities are measured on recognition at historical cost and then subsequently measured at the best estimate of the amount to settle the obligation at the reporting date. The exception is that certain financial instruments must be adjusted to their present value; these include financial liabilities where settlement is deferred for more than 12 months after the reporting date.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes. It includes the costs of all fundraising activities and events together with those costs incurred in seeking donations, grants and legacies.
Expenditure on charitable activities includes all costs incurred by the 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. The cost of charitable activities presented in the Statement of Financial Activities includes the costs of both direct service provision and the payments of grant awards if applicable.
Other expenditure includes all expenditure that is neither related to raising funds for the Charity nor part of its expenditure on charitable activities and is recognised when it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Support costs are incurred supporting the Charity's activities and include expenditure associated with administrative and finance functions and governance. These support functions are shared across the Charity's activities and are apportioned across those activities in order to arrive at the full cost for each reported activity. The method of apportionment adopted by the Charity is outlined in the notes to the financial statements.
Support costs include the costs of independent examination in accordance with the SORP.
Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Tangible fixed assets
Tangible fixed assets, other than property, are measured initially at cost. Depreciation is provided at the following rates calculated to write off the cost less residual value of each asset over its expected useful life:
Equipment - 10% straight line
Fixed Asset investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market value. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals through out the year.
Stock
Stock is valued at the lower of cost and estimate net realisable value. Stock is reviewed at the reporting date by the Trustees and provided for where appropriate.
Debtors
Debtors are measured at their recoverable amounts, being the amount the Charity anticipates it will receive in settlement of the debt (net of any discounts offered and provision against bad debt). Prepayments are valued at the amount prepaid at the reporting date. A provision is made for any debtors outstanding for more than one year.
Creditors
Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of economic benefit - generally in the form of a cash payment - to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Subscriptions are included as income over a the life of the subscription. The balance of the subscriptions that have not yet been taken to income are shown under Creditors.
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DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Notes to the Accounts for the Year ended 31st March 2024
1 Accounting Policies (continued)
Fund accounting
Funds are classified as either Restricted Funds or Unrestricted Funds, defined as follows:
Restricted Funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the Charity. The Charity currently does not have any Restricted Funds.
Unrestricted Funds are expendable at the discretion of the Trustees in furtherance of the objects of the Charity. If parts of the Unrestricted Funds are earmarked at the discretion of the Trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the Trustees' discretion to apply the fund.
VAT
The Charity is not registered for VAT.
2 Support Costs
| General | Designated | |||
|---|---|---|---|---|
| Fund | Funds 2024 Total 2023 Total | |||
| £ | £ | £ | £ | |
| Administration Costs | 414 | 0 | 414 | 581 |
| AGM Expenses | 159 | 0 | 159 | 184 |
| Examiner | 100 | 0 | 100 | 100 |
| Total Support Costs | 673 | 0 | 673 | 865 |
Support costs are allocated to Charitable Acitivities.
3 Tangible fixed assets
| Cost At 1st April At 31st March Depreciation At 1st April At 31st March Net book value At 31st March Listed Investments Fair value (market value) At 1st April Additions Revaluations At 31st March Historic cost At 31st March The following holdings represent more than 5% of the Charity's total investments: M&G Charifunds |
2024 2023 £ £ 2,163 2,163 |
|---|---|
| 2,163 2,163 |
|
| 2,163 2,163 |
|
| 2,163 2,163 |
|
| 0 0 |
|
| 2024 2023 £ £ 51,242 54,579 0 0 (934) (3,337) |
|
| 50,308 51,242 |
|
| 41,196 41,196 |
|
| 50,308 |
- 4 Listed Investments
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DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Notes to the Accounts for the Year ended 31st March 2024
5 Debtors
| Debtors | |
|---|---|
| Other Debtors | 2024 2023 £ £ 23 61 |
| 23 61 |
- 6 Creditors: Amounts falling due within one year
| Creditors: Amounts falling due within one year | |
|---|---|
| Payments received on account Reel Deferred Income Branch Deferred Income General Creditors |
2024 2023 £ £ 0 30 262 332 725 718 194 381 |
| 1,181 1,461 |
7 Creditors: Amounts falling due after one year
| Reel Deferred Income | 2024 2023 £ £ 36 76 |
|---|---|
| 36 76 |
8 Unrestricted Designated Funds
| Opening Bank Balance at 1st April Expenditure Closing Balance at 31st March |
Ireland Anniversary Fund Helen Brown Teaching Awards 2024 2023 £ £ £ £ £ £ 3,544 2,069 5,000 800 11,413 10,713 (200) 0 0 (200) (400) 0 |
|---|---|
| 3,344 2,069 5,000 600 11,013 11,413 |
Purposes of Unrestricted Funds
General Fund - represents the Charity's accumulated reserves and encompasses all income and expenditure relating to the Charity's primary activities.
Bill Ireland Memorial - to be used to make grants to young dancers from the London area to attend summer, winter or youth schools or to subsidise attendance at teacher training courses run by the Society.
Anniversary Fund - Launched by appeal in 2010 to fund training of teachers and outreach to young dancers.
Helen Brown - to digitise archives and support young musicians.
Teaching Awards - to pay for grants for teacher training.
Fund Transfers
There were no funds transfers made in the year to 31 March 2024
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DocuSign Envelope ID: D47B1CFA-8EDE-4F15-A9EF-B15257F8293C
The Royal Scottish Country Dance Society London Branch Trustees' Report and Financial Statements 31 March 2024
Notes to the Accounts for the Year ended 31st March 2024
9 Contribution earned on Charitable Trading
| Contribution earned on Charitable Trading | |
|---|---|
| Sales of Books, recordings accessories Costs of Books, recordings, accessories sold Contribution before write-off Write-off of Bookstall Stock Contribution after write-off |
2024 2023 £ £ 0 54 0 0 |
| 0 54 0 0 |
|
| 0 54 |
The recognition of Income and Expenses of Charitable Trading is on an accruals basis. Income reported in the Statement of Financial Activities relates only to sales during the year, and purchases includes the cost of books sold, not the cost of books purchased during the year.
10 Related party transactions
Three Trustees (2023 - three) received payments totaling £4,848 (2023 £3,972) for services rendered for teaching or playing at classes.
| S Wales Teaching classes D Hall Teaching at the day school and other classes D Hall Playing at dances A Brady Playing for classes and at dances |
2024 2023 £ £ 1,652 1,512 321 260 650 830 2,225 1,370 |
|---|---|
| 4,848 3,972 |
11 Trustees' Expenses
Two Trustees (2023 - five) were reimbursed expenses of £590 (2023 £1,141) for Administration Expenses, AGM Expenses, Class Costs and Publicity Costs.
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