Annual Report 2023 to 31[st] March 2023
East Anglian Traditional Music Trust (EATMT) Red Gables Ipswich Road Stowmarket Suffolk IP14 1BE
www.eatmt.org.uk T: 07495 054669 Registered Charity 1082774
EATMT ANNUAL REPORT 2022-23 WWW.EATMT.ORG.UK
East Anglian Traditional Music Trust
Registered Charity 1082774
Annual Report for year ended 31[st] March 2023
Red Gables Ipswich Road Stowmarket Suffolk IP14 1BE
www.eatmt.org.uk
Contents
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| Page | |
|---|---|
| Trustees and Staff | 4 |
| Infrastructure | 5 |
| Report from the Chair | 7 |
| Review of Activities | 8 |
| Statement on Public Benefit | 18 |
| Review of the Transactions and Financial Position | 19 |
| of the Charity |
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Trustees and Staff
East Anglian Traditional Music Trust Registered Charity No 1082774
Patrons
Gloria Buckley (MBE) Lesley Dolphin Mark Murphy Katie Howson
Chair
Ivan Cutting
Trustees
Miriam Stead Lindsay Want Eammon Andrews
Administrator/Director
Alex Bartholomew
Office Address
Red Gables Ipswich Road Stowmarket Suffolk IP14 1BE
Bankers
HSBC 12 Tavern Street Ipswich Suffolk IP1 3AZ
The Trustees submit their annual report and the audited financial statements for the year ended 31[st] March 2023.
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Infrastructure
The East Anglian Traditional Music Trust (EATMT) is an independent registered charity and has been in existence since 2000.
Charitable objectives
The charity’s main objective is to advance education in the traditional folk music of East Anglia and other areas, including folk songs, tunes, dances, customs and traditions. In order to achieve this the Trust organises workshops, classes, concerts, lectures, exhibitions, community and schools projects, carries out research and archiving work, and publishes resources.
Organisation of the Charity
The charity’s governing document is the Declaration of Trust executed on 8 June 2000. The Board of Trustees, comprising the Chair and Trustees as set out on page 4 governs it.
Board members give their time to the charity on a purely voluntary basis. Whilst the success of the charity is dependent on the efforts of its members and volunteers, it is important that its work is supported by well trained and professional staff. The Administrator/Director is responsible to the Board for managing the charity to implement its strategy.
Method of Appointment of Trustees
Trustees are nominated and elected in accordance with the Declaration of Trust. New Trustees are provided with relevant information and training opportunities.
Governance and Internal Control
The Trustees meet three times a year; this includes meetings to review the strategy and performance and to agree the operating plans and budgets.
Company and Charity Law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the Trustees have:
selected suitable accounting policies and then applied them consistently
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made judgements and estimates that are reasonable and prudent
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prepared the financial statements on the going concern basis.
The Trustees have overall responsibility for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also 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 the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that:
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the charity is operating efficiently and effectively
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its assets are safeguarded against unauthorised use or disposition
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proper records are maintained and financial information used within the charity or for publication is reliable and
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the charity complies with relevant laws and regulations
The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:
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a strategic plan and an annual budget approved by the Trustees
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regular consideration by the Trustees of financial results, variance from budgets and non-financial performance
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delegation of authority and segregation of duties
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identification and management of risks
The Trustees are pleased to report that the charity’s internal financial controls, in particular, conform to guidelines issued by the Charity Commission.
EATMT’s set of jig dolls
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Report from the Chair
We are starting to view the new horizons following the pandemic, to see audiences starting to return to attending concerts and lectures, and therefore some progress in repairing our traditional timetable of events. With the exception of the sad demise of our Queen in September 2022, which resulted in the complete cancellation of our Traditional Music Day plans, this has proved possible.
The big news of 22-23 was the award of a substantial National Lottery Heritage Fund award for the Vaughan Williams’ Folk project, which is described below and which stretches into 2023-24 and is clearly going to illustrate both the potential of EATMT to mount new projects, but also to bring in a new cast of creatives, facilitators and all round project personnel.
Once again the activities are a testament to both the drive of our small staff team and the demand from our friends, supporters and audiences (often the same people) to see the work of the charity continue and recover.
New work and new audiences are being sought and found, in schools, care homes, new venues and online. This constant refreshing of our ways of working is one of the few benefits of the pandemic and driven by the sheer necessity for inventing a new normal.
Special thanks must go to Alex for her sterling work in keeping the Trust on an even keel and consolidating the move to Red Gables, to our donor who has funded the extra space there, to my fellow Trustees who have continued their governance role through a rocky period, and to Nicky Stockman whose application for the Ralph Vaughan Williams project to Heritage Fund marks a solid beacon for the Trusts future as we go into 2023-24.
Ivan Cutting – Chair of Trustees
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A Review of Activities
Report from the Administrator/Director
A success of a National Lottery Heritage Funded project in the spring of 2022 set EATMT off with a fantastic start to the new financial year.
Hot off the heels of the Suffolk County Council funded Covid Recovery Project which was run in the last quarter of the previous year, Heritage Project expert Nicky Stockman worked closely with Administrator/Director Alex Bartholomew on a bid for a Vaughan Williams’ based project.
The aim was to run a project to coincide with the RVW 150 year of national celebrations of the English composer Ralph Vaughan Williams, and at the start of the new financial year, we learned that we had been successful in winning just short of £66k to run an 18 month long project across the region in celebration of Vaughan Williams’ Folk Song collecting in East Anglia.
Whilst it didn’t quite sit in line with the full year of RVW 150, it DID take place during Vaughan Williams’ actual 150[th] year (though for the purposes of this Annual Report, it ran over two financial years).
This 3-Stranded Project involved weaving some events alongside already planned events as well as creating new one-off events. It collaborated with local and national organisations, and it worked with researchers and experts of Vaughan Williams’ folk song collecting and helped share this work across a wider audience. We worked across four counties delivering workshops in Schools and local community groups and we also worked with a small number of specially selected young musicians (aged 16-25) which was to lead to two showcase concerts in the summer of 2023.
In this financial year, the project proposal was showcased at FolkEast – East Anglia’s annual folk festival in August 2022, it was launched (following an aborted launch at Traditional Music Day as a result of the death of Queen Elizabeth and
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royal protocol) in October 2022, a Research Conference was held in November 2022 and we selected 9 young, talented musicians to work with from January 2023 to September 2023. All events were recorded and are available to view via www.eatmt.org.uk, where you will also find several podcasts which were produced throughout the length of the project.
The Planned Return of 2 Firm Favourite Events
Following a gap of 5 years, we started to ramp up the preparations for the return of our day of workshops (Melodeons & More) and Traditional Music Day. Under the guidance of volunteers Judy and Eammon (Trustee) Andrews, and at a new venue for EATMT in the middle of rural Suffolk
( Wingfield Barns ) this new-look workshop event was launched in May under the slightly tweaked name “More than Melodeons”. With sponsorship from Acorn Instruments (who also set up stall for the event) and Andrews Building Surveyors and funding from Mid Suffolk Disctrict Council, a day of workshops with an evening concert was successfully delivered.
For the first time workshops extended to fiddles, whistles and song workshops with multi instrumental workshops encouraging more than squeezeboxes. There was obvious nervousness all round with this event – both as a new-ish event for EATMT and for attendees who had had two years of restrictions regarding social interaction. We were very grateful to musician Nick Hart who stepped in at the last minute to replace tutor Jack Hogsden who was hit with Covid the day before the event.
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The organising of Traditional Music Day under the expert direction of our Voluntary Artistic Director, Alan Bearman, stepped up considerably, buoyed by the inclusion of the launch of the Vaughan Williams’ Folk project which was set to coincide with this now long awaited day.
Much work was undertaken over the year to have this event ready to deliver on September 10[th] and nothing could have prepared us for the disappointment that was to happen 48 hours prior to the event – the death of a Monarch. For an event run across the town – with music, song and dancing planned in the streets and in venues such as the Royal British Legion, Scout Centre and the local church – it was clear this event was not going to be able to be run. Thwarted for a third consecutive year, we quickly secured venues and planned artists the following year retreated to think of plan B for our planned (and legally binding) Project Launch and future events.
Before this event, however, we had a successful move into Cambridgeshire in July for Stepdance Day where we inspired new and keen dancers who have now set up a regular monthly “Stepping in Cambs” Sunday afternoon session.
We also continued to promote this wonderful tradition at the Strumpshaw Tree Fair which was treated to stepping from Fiona Davies, Ron White, Chris Gill and others and music from Chris Holderness and Friends.
We took our spot in the Instrumental Area at FolkEast (key partners in our VWF Project) in August 2022 and as well as running our usual stall, we promoted the Vaughan Williams’ Folk project – launching our search for young musicians and promoting the launch and research conference with a talk from
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Alan Helsdon with musical extracts from Norfolk fiddler Chris Holderness. We also ran the 2[nd] Stepdance Competition in the FolkEast Dance Tent following two workshops run by Fiona Davies and Cambridgeshire stepper Michael Czarnobaj and made the first Vaughan Williams’ Folk Podcast.
Two young stall helpers Eliza and Nez
Winner Ethan Beal
Three Judges Pam Ross, Fiona Davies and Patron Gloria Buckley
Gordon Ruddock Bursaries
This financial year saw local dancer, ceilidh caller and whistle/flute player Poppy Price-Dowhan receive a bursary towards the Burwell Bash Summer School which took place in person in the Summer of 2022. In 2023 she set up some classes called “Accessible Ceilidhs” – encouraging disabled and able bodied dancers to get dancing together, to work with each other, and suggesting how one might call at a ceilidh with a mix of physical abilities in a dance.
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Isabella Paine received a bursary to receive a block of lessons from fiddler James Delarre as part of the Bursary Scheme.
Local auctioneers helped EATMT sell a number of items that were remaining from our Covid Years donations. They run a regular Music Memorabilia auction which some of property was put into and sold. Bishop & Miller have kindly agreed to not take commission on any items sold in their forthcoming auctions.
A Young Visitor from America
EATMT and particularly Alex and family were honoured to have young American Traditional Folk Song enthusiast Nora Rhodes stay in the late Spring of 2022.
Nora’s visit to Europe was plagued by Covid but that was to our benefit and she stayed with us longer than originally planned.
She spent time editing a chapter that she had written for a forthcoming publication on Traditional Song, worked on British Library archives under the guidance of Steve Roud and she helped re create a Maypole resource for EATMT. She also attended two international song conferences – speaking at one of them on her research on a US folk song collection of Eloise Hubbard Linscott.
Archives
Essex Based folk dance educator, Pam Warren, passed her dance archives on to EATMT at the start of the financial year. Pam had been teaching folk dance for over 75 years and had a wealth of dance sets with music. This remains a physical collection for the moment with the aim to make it digital and shareable in future years.
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Website and technology
CFB Solutions , SDC Hosting & Support Ltd and Unicorn Designers continued to provide the technical support required. The Podcast series developed in the previous financial year continued to be added to by its creator, Jake LeeSavage and he also dipped his toes into film making for our Vaughan Williams’ Folk Project.
Gradually, EATMT finds itself attracting a younger audience (in addition to its long standing supporters!) and so armed with a young team involved in the Vaughan Williams’ Folk project, we delved into the land that is Instagram in addition to our Facebook page.
Individuals continute to contribute to various articles on the website over the year which were promoted via the quarterly newsletters.
Lives Remembered
We are always sad to hear of the passing of our regular supporters, volunteers and musicians but here is a trio particularly worthy of mentioning.
John Howson – Co Founder and previous Co-Director of EATMT
It was with great sadness to report that in June 2022, John Howson died peacefully at home after a short illness. He has left behind a legacy which his wife Katie, also Co-Founder and previous Co-Director continues to work on. Katie agreed to become a Patron of EATMT in the spring of 2023.
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James Abbott
The sudden death of regular stepdancer and champion supporter of the Trust shook the local Traditional Stepdancing community in October 2022.
Lennie Whiting
A few months later in the Spring of 2023,
another stepdancer, this time the great Lennie Whiting, passed away after a spell in hospital.
All three are huge losses to Traditional Music, Song and Dance – all with a passion to keep the heritage of Stepdancing, Music and Song alive.
Newsletters
Since its existence, EATMT has prepared newsletters which are mailed and emailed out generally on a quarerly basis to over 1600 people. Since 2019 these newsletters have appeared on our website and now feature as part of the Trust’s archive. At some point we hope to have a record of all newsletters availabe for reference on the website.
A series of 3 Spring Newsletters kicked off the new year with promising news of our NLHF Project and the return of two major historical events. A Summer Newsletter, Autumn and then Winter Newsletter were created with a short February update reminding supporters of what was coming up in the Spring of 2023.
News: More than Melodeons, Summer stepdancing and the Death of a Monarch 2022
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Friends’ Scheme, Donations, Book Sales & Instrument Hire
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Income from our Friends’ Scheme is an important addition to the finances and we are delighted to report that renewals continue on an annual basis. There has been a slight increase in new members joining the scheme and we hope to encourage more in the coming years as we start to get back into some normality and have more live events.
Book sales have been steady and promising over the last year – particularly Blyth Voices which is linked strongly to our Vaughan Williams’ Folk Project - and our Instrument Hire Scheme proves to be ever popular. This year we had the addition of additional English Concertinas via local restorer Mike Acott who is working with EATMT to offer a short term ‘Try Before You Buy’ scheme for instruments he has for sale. Hire fees come to EATMT as well as a donation once that instrument is sold.
Thanks
We are grateful for the continued regular support of our local councils – Stowmarket Town and Mid Suffolk & Babergh District. We are also thankful to Suffolk County Council’s Locality Budget fund which enabled additional funding from Stowmarket’s Count Councillor, Cllr Scarfe and contributed to the marketing of Traditional Music Day.
Of course, particular mention must go to our biggest funder for the first of two years, the National Lottery Heritage Fund which has enabled the Trust to focus on the 18 month long project “Vaughan Williams’ Folk”. Winning this funding bid arrived at a pivotal point for the Trust – and is the largest funded project in the Trust’s history.
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Without the support of these funding pots, of our regular volunteers and our regular and loyal Friends and Supporters, the Trust would not exist. Nor would it exist without the time given by its Trustees. We are grateful to Frances Hammond who has acted as the Trust’s Independent Financial Examiner.
Thanks also go to our landlord “Mid Suffolk Voluntary Organisation Forum” at Red Gables who continue to work alongside us and other local voluntary organisations in the “hub”.
We continue to be affiliated with the English Folk Dance and Song Society and are pleased to have collaborated further with a number of additional organisations over the year including the Burwell Bash, the Traditional Song Forum, FolkEast and the Vaughan Williams Society as well as with local businesses including local Auction house, Bishop & Miller.
Past EATMT projects have been supported by:
Adnams Charity Alfred Williams Charitable Trust Arts Council England Awards for All (National Lottery) Britten-Pears Foundation Colyer-Fergusson Charitable Trust The Concertina Trust Community Champions Foundation for Sport and the Arts Heritage Lottery Fund Hervey Benham Charitable Trust Joint Morris Organisation King’s Lynn & West Norfolk Borough Council Mid Suffolk District Council National Lottery Heritage Fund Norfolk County Council RVW Society
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South Norfolk District Council Stowmarket Town Council Suffolk County Council Waveney District Council
Postcard to Russell Wortley from musician Billy Cooper. Part of the Russell Wortley’s Dulcimer Collection that EATMT are in possession of
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Statement on Public Benefit
The objectives, and review of achievements and performance sections of this report clearly set out the activities which EATMT undertakes for public benefit. The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Commission in determining the activities undertaken by the Charity.
Reserves Policy
In the light of the COVID-19 pandemic and the threat posed to small charities, the Trustees replaced their old Reserves Policy at their AGM on 8[th] October 2020 with the following:
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The General Reserve should be built up to a level which would finance a reasonable period in which to run down the organisation’s operations in the event of a major loss of income. In the current circumstances the Trustees believe this reserve should be £15k, which would allow the Charity to operate at a basic level for a year.
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There should also be a Development Reserve to allow future activities to be resourced or provide matching resources for potential grant applications. This should be at least £10k
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Restricted Reserves will be consequent upon funding for projects lasting more than one year.
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That the level of all Reserves should be reviewed in line with this policy on an annual basis.
Review date: Policy Reviewed October 2022.
Next review due October 2023.
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Review of the transactions and financial position of the charity
The format of the financial statements and accounts is in accordance with the recommendations of the Statement of Recommended Practice for Charity Accounts. There have been no changes to accounting policies.
Results for the period
The Income and Expenditure Account shows a net deficit on unrestricted funds for the year ended 31 March 2023 of (£6,192) (31 March 2022 £1,209 surplus). There is a surplus on all unrestricted funds of £23,924 (31 March 2022 £30,116) with total reserves at 31[st] March 2023 of £31, 701.
Financial position at balance sheet date
The Board considers that the charity’s financial position at the balance sheet date is satisfactory.
Instruments
The Trustees are pleased to report that legacies of instruments continue to be left to the Trust either for hire or for sale to augment the Trust’s income. The accounts reflect solely the income from instruments sold that have been received from the legacy and a conservative value on other legacy material. As and when this material and other donated instruments are sold the income will be recognised within the accounts.
Degree of financial dependency
As mentioned above, the charity is dependent on the voluntary efforts of its members and volunteers. However, there is no significant degree of dependence on any single member or small group of members in respect of voluntary effort for financial contributions.
Political contributions
The charity made no political contributions during the year.
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Independent Examiner
In accordance with the Charities Act 2011, the financial statements have been independently examined by Frances Hammond.
I confirm that the financial accounts reflect a true and fair view of the activities of the organisation.
By order of the Board, Ivan Cutting, Chair
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| East Anglian Traditional Music Trust | |||||||||
| Year ended 31 March 2023 | |||||||||
| Income and Expenditure | |||||||||
| Statement of Financial Activities | |||||||||
| Note | Unrestricted | Restricted | Total | 2022 | |||||
| £ | £ | £ | £ | ||||||
| INCOMING RESOURCES | 2.1 | ||||||||
| Grant income | |||||||||
| MSDC Grant | 1,000 | 1,000 | 2,000 | ||||||
| Stowmarket Town Council | 480 | 480 | 360 | ||||||
| MSDC & Babergh Restart Grants | 2,698 | 2,698 | 2,802 | ||||||
| SCC CCFC Grant | 0 | 0 | 7,600 | ||||||
| Full Cost Recovery Grant Re VWFP | 894 | 894 | 0 | ||||||
| Scarff Locality Grant (TMD Promo costs) | 1,000 | 1,000 | 0 | ||||||
| Vaughan Williams Folk Project Grant | 23,619 | 23,619 | 0 | ||||||
| Grant income | 29,691 | 0 | 29,691 | 12,762 | |||||
| Events Income | |||||||||
| Ticket Sales | 1,611 | 1,611 | 11,048 | ||||||
| SundryEvent Income | 0 | 0 | 550 | ||||||
| Fees Receiveable | 10 | 10 | 187 | ||||||
| Hire Fees | 1,695 | 1,695 | 1,277 | ||||||
| Events Income | 3,316 | 0 | 3,316 | 13,062 | |||||
| Other Income | |||||||||
| Donations and Legacies | 3,063 | 3,063 | 5,688 | ||||||
| Friends Income | 2,755 | 2,755 | 2,915 | ||||||
| Merchandise | 974 | 974 | 1,927 | ||||||
| Sale of instruments & record collection received from legacy |
250 | 250 | 976 | ||||||
| Other Income | 84 | 84 | 172 | ||||||
| Bank Interest | 22 | 22 | 1 | ||||||
| Other Income | 7,148 | 0 | 7,148 | 11,679 | |||||
| TOTAL INCOME | 40,155 | 0 | 40,155 | 37,503 | |||||
| RESOURCES EXPENDED | 2.2 | ||||||||
| Staff Costs | 3 | 9,464 | 9,464 | 8,911 | |||||
| Accommodation and Office Costs | 3 | 9,269 | 9,269 | 8,176 | |||||
| Event Costs | 3 | 4,565 | 4,565 | 15,692 | |||||
| Other Costs | 3 | 23,049 | 23,049 | 3,515 | |||||
| TOTAL RESOURCES EXPENDED |
46,347 | 0 | 46,347 | 36,294 | |||||
| SURPLUS/(DEFICIT) | (6,192) | 0 | (6,192) | 1,209 | |||||
| Reserves B/F | 30,116 | 7,777 | 37,893 | 28,907 | |||||
| Balance carried forward | 23,924 | 7,777 | 31,701 | 30,116 | |||||
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| East Anglian Traditional Music Trust | ||||
| Balance Sheet as at 31 March 2023 | ||||
| Note | 31 March 2023 | 31 March 2022 | ||
| FIXED ASSETS | 2.3 | |||
| Computers/Equipment | 11,167 | 11,167 | ||
| Office Equipment | 734 | 734 | ||
| Instruments Melodeons | 6,334 | 6,334 | ||
| Dep'n Computers/Equipment | (11,167) | (11,167) | ||
| Dep'n Office Equipment | (734) | (734) | ||
| TANGIBLE FIXED ASSETS | 6,334 | 6,334 | ||
| CURRENT ASSETS | ||||
| DEBTORS | ||||
| SundryDebtors & Prepayments | 1,804 | 760 | ||
| 1,804 | 760 | |||
| Bankand Cash | ||||
| Current Account | 33,148 | 30,625 | ||
| Deposit Account | 5,088 | 5,066 | ||
| PettyCash | 61 | 63 | ||
| Paypal | 37 | 27 | ||
| Cash at bankand in hand | 38,334 | 35,781 | ||
| CURRENT LIABILITIES | ||||
| Creditors | 0 | 0 | ||
| Income received in advance | (13,899) | (4,698) | ||
| Credit Card Account | (872) | (284) | ||
| CURRENT LIABILITIES | (14,771) | (4,982) | ||
| NETCURRENT ASSETS | 25,367 | 31,559 | ||
| 31,701 | 37,893 | |||
| FUNDS | ||||
| Unrestricted Funds | 23,924 | 30,116 | ||
| Restricted Funds | 6 | 7,777 | 7,777 | |
| 31,701 | 37,893 | |||
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East Anglian Traditional Music Trust Notes to the Financial Statements Year ended 31 March 2023
Note 1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts 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 on 16 July 2014 the Financial Reporting Standard applicable in the United Kingdom and Republic of • and with Ireland (FRS 102) • and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
Note 2.1 Income
Recognition of income
These are included in the Statement of Financial Activities (SOFA) when: • the charity becomes entitled to the resources • it is more likely than not that the trustees will receive the resources; and • the monetary value can be measured with sufficient reliability. Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. Grants and donations Grants and donations are only included in the SOFA when the general income recognition criteria are met. Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has been a grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met. Tax reclaims on donations and gifts Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustee's annual report. Income from interest This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. Income from membership subscriptions Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.
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East Anglian Traditional Music Trust Notes to the Financial Statements Year ended 31 March 2023 Note 2.2 Expenditure and liabilities Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Depreciation
Depreciation is provided at rates calculated to write down the cost or initial valuation of other assets on a straight line basis over the expected useful life to their estimated residual value. The depreciation rates in use are as follows: Computers and equipment - 1 year Office equipment - 1 year The stock of melodeons retain their value and are not therefore depreciated. Assets with a purchase price of less than £100 are written off in the year of purchase. Restricted funds Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund together with a fair allocation of support costs. Unrestricted funds Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the Trust. Creditors The charity has creditors which are measured at settlement amounts less any trade discounts. Basic financial instruments The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS 102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS 102 SORP.
Note 2.3 Assets
Tangible fixed assets for use by charity These are capitalised if they can be used for more than one year, and cost at least £100. They are valued at cost. The depreciation rates and methods used are disclosed in note 2.2. Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
Note 3 Analysis of resources expended
| Unrestricted | Restricted | 2023 | 2022 | |||
| Analysis | £ | £ | £ | £ | ||
| Staffcosts | ||||||
| Salaries & Subcontractors | 8,176 | 8,176 | 8,000 | |||
| Travel/Subsistence | 1,288 | 1,288 | 851 | |||
| Stafftraining | 0 | 0 | 60 | |||
| Total | 9,464 | 0 | 9,464 | 8,911 | ||
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East Anglian Traditional Music Trust Notes to the Financial Statements Year ended 31 March 2023
| East Anglian Traditional Music Trust | |||||
| Notes to the Financial Statements | |||||
| Year ended 31 March 2023 | |||||
| Note 3 Analysis of resources expended(continued) | |||||
| Unrestricted | Restricted | 2023 | 2022 | ||
| Analysis | £ | £ | £ | £ | |
| Accommodation and | |||||
| Office costs | |||||
| Propertyexpenses | 5,290 | 5,290 | 4,411 | ||
| Telephone | 622 | 622 | 547 | ||
| Postage | 703 | 703 | 283 | ||
| Insurance | 927 | 927 | 920 | ||
| Other office | 181 | 181 | 837 | ||
| Computer services | 1,546 | 1,546 | 1,178 | ||
| Total | 9,269 | 0 | 9,269 | 8,176 | |
| Unrestricted | Restricted | 2023 | 2022 | ||
| Analysis | £ | £ | £ | £ | |
| Event costs | |||||
| PromotionalCosts | 710 | 710 | 1,018 | ||
| Artists' Fees | 1,675 | 1,675 | 10,350 | ||
| VenueFees | 475 | 475 | 601 | ||
| Supplies andParts | 36 | 36 | 307 | ||
| SundryEvents | 557 | 557 | 2,128 | ||
| Projectmanagement | 0 | 0 | 1,275 | ||
| Research | 0 | 0 | 13 | ||
| TMDUnrecoverable costs | 1,112 | 1,112 | 0 | ||
| Total | 4,565 | 0 | 4,565 | 15,692 | |
| Unrestricted | Restricted | 2023 | 2022 | ||
| Analysis | £ | £ | £ | £ | |
| Other costs | |||||
| Subscriptions | 86 | 86 | 174 | ||
| BankCharges | 93 | 93 | 199 | ||
| Sundry Costs | 199 | 199 | 356 | ||
| Depreciation | 0 | 0 | 2,319 | ||
| Instrumentrepairs | 0 | 0 | 320 | ||
| Vaughan WilliamsFolk Project Costs | 22,071 | 22,071 | 0 | ||
| Equipment | 350 | 350 | 147 | ||
| Gordon Ruddock Bursaries | 250 | 250 | 0 | ||
| Total | 23,049 | 0 | 23,049 | 3,515 | |
| Note 4 | |||||
| 4.1 Trustee expenses | |||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Numberoftrusteeswhowere paid expenses | 0 | 0 | |||
| Nature ofthe expenses | Travel/subsistence | ||||
| Totalamount paid | 0 | 0 | |||
| 4.2 Fees for examination or audit of the accounts | |||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Independent examiner's orauditor'sfees | None | None | |||
| Other fees (forexample:advice, consultancy,accountancy | |||||
| services) paid to theindependent examinerorauditor | None | None | |||
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EATMT ANNUAL REPORT 2022-23 WWW.EATMT.ORG.UK
| East Anglian Traditional Music Trust | |||||
| Notes to the Financial Statements | |||||
| Year ended 31 March 2023 | |||||
| Note 5 Staff Costs | |||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| 5.1 Gross wages,salaries and subcontractors | 8,176 | 8,000 | |||
| Employer's National Insurance costs | 0 | ||||
| Pension costs | 0 | 0 | |||
| Total staff costs | 8,176 | 8,000 | |||
| 5.2 The average number of employees in theyear was 1. | |||||
| Note 6 Movement in Restricted Funds | |||||
| At the start of the Year |
Incoming Resources |
Resources Expended |
Balance at Year end |
||
| £ | £ | £ | £ | ||
| Melodeons | 5,601 | 5,601 | |||
| Publication Fund | 2,176 | 2,176 | |||
| Total Funds | 7,777 | 0 | 0 | 7,777 | |
| Note 7 Purpose of Restricted Funds | |||||
| Melodeons | |||||
| Funds providedforthe purchase of instrumentsfor loan/hire to assist thoseinterestedin | |||||
| learning to play. | |||||
| Publication Fund | |||||
| Funds specifically providedforthe publicationof materialarisingfromtheTrust'sworkandresearch. | |||||
| Note 8 Transactions with Related Parties | |||||
| Name oftrustee or related party | 2023 | 2022 | |||
| £ | £ | ||||
| Therewereno payments to trustees or related parties | 0 | 0 | |||
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EATMT ANNUAL REPORT 2022-23 WWW.EATMT.ORG.UK
Independent Examiner’s Report to the Trustees of the East Anglian Traditional Music Trust
Accounts for the Year ended 31 March 2023
The accounts are set out on pages 21-26.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).
The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act,
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to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general directions given by the Charity Commission. 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in any material respect:
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EATMT ANNUAL REPORT 2022-23 WWW.EATMT.ORG.UK
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of the 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.
Frances Hammond FCCA Chartered Certified Accountant Freshfields St Mary’s Road Creeting St Mary Ipswich IP6 8LZ
23[rd] January 2024
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