CHARITY REGISTRATION NUMBER: 1085724
The National Youth Brass Band of Great Britain Unaudited Financial Statements
31 March 2022
The National Youth Brass Band of Great Britain
Financial Statements
Period from 1 January 2021 to 31 March 2022
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 7 |
| Statement of financial activities | 8 |
| Statement of financial position | 9 |
| Notes to the financial statements | 10 |
The National Youth Brass Band of Great Britain
Trustees' Annual Report
Period from 1 January 2021 to 31 March 2022
The trustees present their report and the unaudited financial statements of the charity for the period ended 31 March 2022.
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 published in October 2019.
Reference and administrative details
The National Youth Brass Band of Great Britain
Registered charity name
Charity registration number
Charity registration number 1085724 Principal office 7 Regents Mews Biddenham Bedford MK40 4DL
The trustees
Mr John M Gillam Chairman Mr Harry R Armor Mr Brett Baker Mr Duncan A Beckley Mr Sean L Chandler Ms Lorraine Childs Mr Ewan Easton Ms Lisa Fitzgerald-Lombard Mr Philip Goodwin Mr Trevor J Green Mr John Maines (Resigned 31 December 2021) Mr Malcolm W Marsden Mr Stephen P Plant Mr Richard Robinson Mr Daniel Stenhouse Mr Gary Walczak Mrs Monica Walczak Mr Stuart A Watts OBE Mr John M Gillam Mr Alun F Williams (Appointed 1 May 2021)
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The National Youth Brass Band of Great Britain
Trustees' Annual Report (continued)
Period from 1 January 2021 to 31 March 2022
Founder Dr Denis Wright President E Howarth Vice presidents G Brand H R Armor B Tovey (Died 13 July 2022) Chief Executive Officer Mark Bromley Director of Artistic Planning Robert Childs Operations Manager Richard Milton Audience Development Pearl Lovegrove (from 3 January 2022) Manager Funding Development Louise Shaw Manager Finance Manager M W Marsden (until 31 August 2021) Philip Holt FCA FCIE (from 1 September 2021) Web site www.nybbgb.org.uk Independent examiner A J McLaren FCA Beever and Struthers, Chartered Accountants St George's House 215-219 Chester Road Manchester M15 3HU Bankers Barclays Bank plc Reliance Bank Solicitors Slater Heelis 86 Deansgate Manchester M3 2ER
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The National Youth Brass Band of Great Britain
Trustees' Annual Report (continued)
Period from 1 January 2021 to 31 March 2022
Structure, governance and management
History
The National Youth Brass Band of Great Britain ("the Band" or "the Charity") was established in 1952.
On 14th November 2000, a Company Limited by Guarantee was incorporated and subsequently registered as a charity on 22 March 2001. The transfer of the assets of the un-incorporated charity to the limited company was completed on 15 January 2002.
At a general meeting on 31st October 2020, the trustees resolved to convert from a charitable company to a charitable incorporated organisation (CIO) and appointed seven trustees to be the "first trustees" of The National Youth Brass Band of Great Britain CIO. The main task of these trustees was to work with management to operationalise the CIO as a functioning entity. The conversion, using the foundation model, was completed, and registered at Companies House and the Charity Commission on 3rd March 2021. A further 10 Trustees were appointed on 25th March 2021.
Governing document
The Charity is governed by a foundation model constitution adopted on 22 February 2021.
The trustees are all members of the CIO.
Bramwell Tovey
Trustees were saddened to learn of the death of one of the organisation’s Vice Presidents, Bramwell Tovey, on 13 July 2022.
His tenure as Artistic Director between 2006 and 2020 saw him inspire countless young brass band players – many of whom have gone on to make music a major part of their lives. His legacy is lasting, and the memories people have of his kindness, generosity of spirit, fun and above all his brilliance at communicating his love of music will endure. He was a world class musician who The National Youth Brass Band of Great Britain will forever be grateful to have been associated with.
Recruitment and Appointment
The Trustees of the charity serve for a term of 3 years after which they can be re-elected for a further term of 3 years. Following a second term Trustees must retire for a minimum of two years following which they may be considered for re-election.
Organisation
The Board of Trustees meet regularly to administer the Charity. They are supported by the Chief Executive Officer who oversees the day-to-day operation of the Charity.
Risk Management
The Trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations of the charity and are satisfied that systems are in place to mitigate exposure to the major risks facing the charity. The Trustees have also put into place mechanisms to frequently review potential risks and the measures in place to mitigate those risks.
3
The National Youth Brass Band of Great Britain
Trustees' Annual Report (continued)
Period from 1 January 2021 to 31 March 2022
Objectives and activities
Objectives
The objects of The National Youth Brass Band of Great Britain CIO are:
To advance education and in particular education in music and to encourage and advance education and training of children and young people in the playing of brass band instruments.
To form and run on a national basis in Great Britain a children's brass band, youth brass band and other ensembles composed of such persons.
Activities
The Charity comprises a Youth Band and a Children's Band.
For the Youth Band the Charity selects young people between the ages of 14 and 19, by way of audition throughout the year and across the length and breadth of the country, to receive additional tuition in the playing of brass instruments.
The Youth Band holds two residential courses each year at which the young people receive training in the playing of brass bands instruments. The Charity promotes the playing of brass band instruments by the young people by organising several concerts each year at which they perform.
The Charity also includes the work of a Children's Band for children aged between the ages of 8 and 14. The Children's Band holds one residential course each year at which the children receive training in the playing of brass bands instruments. The Charity then promotes the playing of brass band instruments by the children by organising several concerts at which they perform. Membership of the Children's Band is gained by way of audition.
When planning our activities for the year the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance "public benefit: running a charity (PB2)" and how those activities will contribute to the charities aims and objectives as detailed below.
The Trustees have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance, as published by the Charities Commission.
Achievements and performance
Due to the Covid-19 pandemic the Youth Band could not hold its Easter 2021 residential course. Instead, it held a hybrid course consisting of online tuition, playing and seminars followed by three live ensemble days in Manchester, Worcester, and London during the half term holiday in June 2021, as permitted by prevailing Covid-19 regulations. Material from this hybrid event was then used to create an online concert.
Prevailing Covid-19 regulations permitted residential courses to be held for both the Children's and Youth Bands in July and August 2021 respectively at Repton School, Derbyshire. In an abundance of caution the end of course concerts for both bands were held in the open air in the school grounds. New players for both bands were selected from auditions held online in 2020/21.
In October 2021 the Youth and Children's Bands recorded a selection of works from the Summer residential course repertoire in Pears Hall at Repton school and released a CD of these works in December 2021. At the same session, the Bands recorded a series of Christmas carols which were released to online streaming platforms in the run up to Christmas 2021.
In January 2022 the Charity held the semi-finals and finals of its competition for young conductors (aged 20 to 30) which was funded by the Garfield Weston Foundation. The winner of that competition was appointed associate guest conductor for the Youth Band residential course in August 2022.
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The National Youth Brass Band of Great Britain
Trustees' Annual Report (continued)
Period from 1 January 2021 to 31 March 2022
In March 2022 the Youth Band, in collaboration with the local music education hub, performed in the Sefton Festival of Brass, an inspirational music education event for children in the formative stages of playing brass instruments.
Grants and Awards
During the period, the Charity awarded 19 grants, totalling £8,337 to individual players (2020 - 5 grants to individuals totalling £1,732). These grants were from a number of restricted funds and the balances on these funds, to be used in future periods amounted to £6,725 (2020 - £500).
Financial review
During the period, the Charity received donations amounting to £23,588 (2020 - £2,560), gifts under the Friends Scheme of £5,358 (2020 - £4,365) which included related Gift Aid claims of £766 (2020 - £782) and grant funding totalling £190,382 (2020 - £119,263).
The total expenditure on charitable activities amounted to £223,275 (2020 - £43,169) with governance and other resources expensed totalled £35,758 (2020 - £70,058) during the year.
The total reserves at the year end stand at £286,486 (2020 - £258,422). The total fixed assets of the charity amounted to £4,886 (2020 - £4,272).
In-kind Support
The Charity received in kind support of £20,000 (2020 - £nil) from the Royal Marines Band Service as part of the partnership agreement during the period. This included:
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a) performing in and producing a joint video recording of Dan Price's Andromeda;
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b) making band personnel and officers available for online masterclasses and talks for the Easter 2021 online course;
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c) making an officer available to judge the Harry Mortimer competition at the Summer 2021 residential course and providing a performance opportunity for the winner at a Royal Marines Band concert;
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d) making an officer available to judge the NYBBGB Garfield Weston conductors' competition; e) creating and producing 24 tuition videos for the advanced series of the brass Building Block project.
In kind support of £1,000 was also received from Well Pharmacy for COVID tests and sanitising products to keep the band safe and well at the 2021 Children's and Youth Band residential courses.
Reserves Policy
The funds are necessary to enable the charity to fulfil its objectives, to meet existing commitments and to enable the charity to meet its day to day working capital requirements.
The trustees seek to maintain a level of free reserves (that is funds not tied up in fixed assets and restricted funds) that will enable the Charity to sustain its operation over a period when the income generation may be curtailed temporarily or permanently.
At their meeting on 14 May 2022, Trustees approved a new Reserves Policy to ensure that the Charity retains sufficient resources to continue normal activity in the event of a cessation of funding (equivalent to the net cost of two residential courses and some six months of core costs) plus sufficient resources to wind the Charity up in a proper fashion, should Trustees so decide. In financial terms this equates to £130,000. Trustees resolved to designate the £83,127 Maud Wright Fund, with the balance of £46,873 coming from unrestricted funds, as the Reserves Fund.
5
The National Youth Brass Band of Great Britain
Trustees' Annual Report (continued)
Period from 1 January 2021 to 31 March 2022
Plans for future periods
In accordance with the business plan the Trustees are looking to explore further projects to achieve the charity's objectives. 2022 is the Band's 70th anniversary and for which a full programme of residential courses, concerts and events is being planned.
The trustees' annual report was approved on 13 August 2022 and signed on behalf of the board of trustees by:
MR JOHN M GILLAM
Trustee and Chairman
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The National Youth Brass Band of Great Britain
Independent Examiner's Report to the Trustees of The National Youth Brass Band of Great Britain
Period from 1 January 2021 to 31 March 2022
I report to the trustees on my examination of the financial statements of The National Youth Brass Band of Great Britain ('the charity') for the period ended 31 March 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements 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.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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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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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 accounts to be reached.
A J MCLAREN FCA
Independent Examiner
St. George's House 215-219 Chester Road Manchester M15 4JE
27 September 2022
7
The National Youth Brass Band of Great Britain
Statement of Financial Activities
Period from 1 January 2021 to 31 March 2022
| Year to | |||||
|---|---|---|---|---|---|
| Period from | 1 Jan 21 to 31 Mar 22 | 31 Dec 20 | |||
| Unrestricted | Restricted | ||||
| funds | fundsTotal funds | Total funds | |||
| (restated) | |||||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 21,969 | 218,358 | 240,328 | 126,188 |
| Charitable activities | 5 | 79,104 | – | 79,104 | 6,000 |
| Other trading activities | 6 | 3,072 | – | 3,072 | 814 |
| Investment income | 7 | 337 | – | 337 | 508 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 104,482 | 218,358 | 322,841 | 133,510 | |
| ================================ | ================================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 8 | 8,786 | 25,649 | 34,435 | 3,637 |
| Costs of other trading activities | 9 | 1,309 | – | 1,309 | 1,177 |
| Expenditure on charitable activities | 10,11 | 23,978 | 235,668 | 259,647 | 113,227 |
| --------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 34,073 | 261,317 | 295,391 | 118,041 | |
| =========================== | ================================ | ================================ | ================================ | ||
| Net gains on investments | 14 | 614 | – | 614 | – |
| --------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income | 71,023 | (42,959) | 28,064 | 15,469 | |
| =========================== | ================================ | ================================ | ================================ | ||
| Transfers between funds | (49,178) | 49,178 | – | – | |
| --------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net movement in funds | 21,845 | 6,219 | 28,064 | 15,469 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 240,990 | 17,432 | 258,422 | 242,953 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 262,835 | 23,651 | 286,486 | 258,422 | |
| ================================ | ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 10 to 26 form part of these financial statements.
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The National Youth Brass Band of Great Britain
Statement of Financial Position
31 March 2022
| Statement of Financial Position 31 March 2022 |
|||
|---|---|---|---|
| 31 Mar 22 | 31 Dec 20 | ||
| (restated) | |||
| Note | £ | £ | |
| Fixed assets | |||
| Investments | 19 | 4,886 | 4,272 |
| Current assets | |||
| Stocks | 21 | 2,245 | – |
| Debtors | 22 | 25,955 | 3,395 |
| Cash at bank and in hand | 304,372 | 281,641 | |
| -------------------------------- | -------------------------------- | ||
| 332,572 | 285,036 | ||
| Creditors: amounts falling due within one year | 23 | 50,972 | 30,886 |
| -------------------------------- | -------------------------------- | ||
| Net current assets | 281,600 | 254,150 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 286,486 | 258,422 | |
| -------------------------------- | -------------------------------- | ||
| Net assets | 286,486 | 258,422 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Restricted funds | 23,651 | 17,432 | |
| Unrestricted funds | 262,835 | 240,990 | |
| -------------------------------- | -------------------------------- | ||
| Total charity funds | 27 | 286,486 ================================ |
258,422 ================================ |
These financial statements were approved by the board of trustees and authorised for issue on 13 Aug 22, and are signed on behalf of the board by:
MR JOHN M GILLAM
Trustee and Chairman
The notes on pages 10 to 26 form part of these financial statements.
9
The National Youth Brass Band of Great Britain
Notes to the Financial Statements
Period from 1 January 2021 to 31 March 2022
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 7 Regents Mews, Biddenham, Bedford, MK40 4DL.
2. Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The 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 the 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 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.
The accounting period was extended to 31 March 2022 and represents 15 months of activity. The comparative figures were for the prior period of 12 months to 31 December 2020.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The charity does not include a cash flow statement on the grounds that it is applying the Charities SORP (FRS 102) for smaller charities.
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The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
3. Accounting policies (continued)
Judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities, within the next financial year, are the levels of future funding and expenditure on charitable activities.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
11
The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
12
The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
3. Accounting policies (continued)
Investments in associates (continued)
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value taken through income or expenditure. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
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The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
3. Accounting policies (continued)
Government grants (continued)
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Where investments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
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The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
4. Donations and legacies
| Donations and legacies | |||
|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Donations received | 15,642 | 7,945 | 23,588 |
| Gifts | |||
| Friends Income (including Gift Aid) | 5,358 | – | 5,358 |
| Grants | |||
| Arts Council England | – | 148,796 | 148,796 |
| Worshipful Company of Musicians | – | 2,400 | 2,400 |
| Bursary grants | – | 217 | 217 |
| Garfield Weston Foundation | – | 15,000 | 15,000 |
| Simon Gibson Trust | – | 5,000 | 5,000 |
| 29th May 1961 Charity | – | 5,000 | 5,000 |
| The Radcliffe Trust | – | 3,000 | 3,000 |
| The Steel Charitable Trust | – | 10,000 | 10,000 |
| Government grant income | 969 | – | 969 |
| Other donations and legacies | |||
| The Royal Marines Band Service | – | 20,000 | 20,000 |
| Well Pharmacy | – | 1,000 | 1,000 |
| --------------------------- | -------------------------------- | -------------------------------- | |
| 21,969 | 218,358 | 240,328 | |
| =========================== | ================================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| (restated) | |||
| £ | £ | £ | |
| Donations | |||
| Donations received | 1,211 | 1,349 | 2,560 |
| Gifts | |||
| Friends Income (including Gift Aid) | 4,365 | – | 4,365 |
| Grants | |||
| Arts Council England | – | 119,263 | 119,263 |
| Worshipful Company of Musicians | – | – | – |
| Bursary grants | – | – | – |
| Garfield Weston Foundation | – | – | – |
| Simon Gibson Trust | – | – | – |
| 29th May 1961 Charity | – | – | – |
| The Radcliffe Trust | – | – | – |
| The Steel Charitable Trust | – | – | – |
| Government grant income | – | – | – |
| Other donations and legacies | |||
| The Royal Marines Band Service | – | – | – |
| Well Pharmacy | – | – | – |
| ----------------------- | -------------------------------- | -------------------------------- | |
| 5,576 | 120,612 | 126,188 | |
| ======================= | ================================ | ================================ |
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The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
5. Charitable activities
| 5. | Charitable activities | ||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2020 | ||
| (restated) | |||||
| £ | £ | £ | £ | ||
| Easter course | 2,350 | 2,350 | – | – | |
| Summer course | 49,200 | 49,200 | – | – | |
| NCBBGB course | 27,160 | 27,160 | – | – | |
| Concerts | 394 | 394 | – | – | |
| Nat Youth at home course | – | – | 6,000 | 6,000 | |
| --------------------------- | --------------------------- | ----------------------- | ----------------------- | ||
| 79,104 | 79,104 | 6,000 | 6,000 | ||
| =========================== | =========================== | ======================= | ======================= | ||
| 6. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2020 | ||
| (restated) | |||||
| £ | £ | £ | £ | ||
| Sale of CD's, Photographs, Ties and | |||||
| Polo Shirts | 3,072 | 3,072 | 814 | 814 | |
| ======================= | ======================= | ============== | ============== | ||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2020 | ||
| (restated) | |||||
| £ | £ | £ | £ | ||
| Investment income | 337 | 337 | 508 | 508 | |
| ============== | ============== | ============== | ============== | ||
| 8. | Costs of raising donations and legacies | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Costs of raising donations and legacies - Donations | 8,786 | 25,649 | 34,435 | ||
| Exceptional costs of raising donations and legacies | – | – | – | ||
| ----------------------- | --------------------------- | --------------------------- | |||
| 8,786 | 25,649 | 34,435 | |||
| ======================= | =========================== | =========================== | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| (restated) | |||||
| £ | £ | £ | |||
| Costs of raising donations and legacies - Donations | – | – | – | ||
| Exceptional costs of raising donations and legacies | – | 3,637 | 3,637 | ||
| -------------- | ----------------------- | ----------------------- | |||
| – | 3,637 | 3,637 | |||
| ============== | ======================= | ======================= |
16
The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
9. Costs of other trading activities
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Costs of other trading activities - Shop | costs | 1,309 | – | 1,309 | |
| ======================= | ============== | ======================= | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| (restated) | |||||
| £ | £ | £ | |||
| Costs of other trading activities - Shop | costs | – | 1,177 | 1,177 | |
| ============== | ======================= | ======================= | |||
| Expenditure on charitable activities | by fund type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Courses and Awards | 1 | 159,728 | 159,729 | ||
| Concerts and Auditions | 2,174 | 10,161 | 12,335 | ||
| Youth music projects | – | – | – | ||
| Support costs | 21,803 | 65,779 | 87,583 | ||
| --------------------------- | -------------------------------- | -------------------------------- | |||
| 23,978 | 235,668 | 259,647 | |||
| =========================== | ================================ | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| (restated) | |||||
| £ | £ | £ | |||
| Courses and Awards | 532 | 34,316 | 34,848 | ||
| Concerts and Auditions | – | 1,525 | 1,525 | ||
| Youth music projects | – | 590 | 590 | ||
| Support costs | – | 76,264 | 76,264 | ||
| -------------- | -------------------------------- | -------------------------------- | |||
| 532 | 112,695 | 113,227 | |||
| ============== | ================================ | ================================ | |||
| Expenditure on charitable activities | by activity type | ||||
| Activities | |||||
| undertaken | Grant funding |
Support | Total funds | Total fund | |
| directly | of activities |
costs | 2022 | 2020 | |
| £ | £ | £ | £ | £ | |
| Courses and Awards | 151,392 | 8,337 |
51,211 | 210,940 | 41,054 |
| Concerts and Auditions | 12,335 | – |
– | 12,335 | 1,525 |
| Youth music projects | – | – |
– | – | 590 |
| Governance costs | – | – |
36,372 | 36,372 | 70,058 |
| -------------------------------- | ----------------------- | --------------------------- | -------------------------------- | -------------------------------- | |
| 163,727 | 8,337 |
87,583 | 259,647 | 113,227 | |
| ================================ | ======================= | =========================== | ================================ | ================================ |
10. Expenditure on charitable activities by fund type
11. Expenditure on charitable activities by activity type
17
The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
12. Analysis of support costs
| Analysis of support costs | ||||
|---|---|---|---|---|
| Courses and | Governance | |||
| Awards | costs | Total 2022 | Total 2020 | |
| £ | £ | £ | £ | |
| Staff costs | 24,487 | – | 24,487 | – |
| Premises | 1,415 | – | 1,415 | 1,331 |
| Communications and IT | 649 | – | 649 | – |
| Finance costs | 296 | – | 296 | 108 |
| Governance costs | – | 36,372 | 36,372 | 70,058 |
| Miscellaneous costs | 6,689 | – | 6,689 | 2,666 |
| Stationary, publicity and advertising | – | – | – | 2,101 |
| Travel and meeting costs | 2,038 | – | 2,038 | – |
| Legal and consultancy fees | 15,597 | – | 15,597 | – |
| --------------------------- | --------------------------- | --------------------------- | --------------------------- | |
| 51,171 | 36,372 | 87,543 | 76,264 | |
| =========================== | =========================== | =========================== | =========================== |
In the current and previous year, the support costs included governance costs as follows:
| 31 Mar 22 | 31 Dec 20 | |
|---|---|---|
| (restated) | ||
| £ | £ | |
| Salaries | 25,000 | 18,321 |
| Pension costs | 516 | 367 |
| Independent Examiners fees | 1,308 | 1,308 |
| Legal, professional and consultancy fees | 8,548 | 12,112 |
| Council meetings | – | 955 |
| Honoraria | 1,000 | 36,995 |
| --------------------------- | --------------------------- | |
| 36,372 | 70,058 | |
| =========================== | =========================== |
13. Analysis of grants
| Analysis of grants | ||
|---|---|---|
| Period from | ||
| 1 Jan 21 to | Year to | |
| 31 Mar 22 | 31 Dec 20 | |
| (restated) | ||
| £ | £ | |
| Grants to individuals | ||
| 0 Maude Wright Award (2020 - 1) | – | 482 |
| 2 Worshipful Company of Musicians Award to individuals (2020 - 3) | 1,200 | 1,200 |
| 1 The William Patterson Trophy Award (2020 - 1) | 50 | 50 |
| 16 Grants to individuals (2020 - 0) | 7,087 | – |
| ----------------------- | ----------------------- | |
| 8,337 | 1,732 | |
| ----------------------- | ----------------------- | |
| Total grants | 8,337 | 1,732 |
| ======================= | ======================= |
18
The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
14. Net gains on investments
| Net gains on investments | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2020 | |
| (restated) | ||||
| £ | £ | £ | £ | |
| Gains/(losses) on listed investments | 614 ============== |
614 ============== |
– ============== |
– ============== |
15. Independent examination fees
Period from 1 Jan 21 to Year to 31 Mar 22 31 Dec 20 (restated) £ £ Fees payable to the independent examiner for: Independent examination of the financial statements 1,308 1,308
16. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| Period from | ||
|---|---|---|
| 1 Jan 21 to | Year to | |
| 31 Mar 22 | 31 Dec 20 | |
| (restated) | ||
| £ | £ | |
| Wages and salaries | 65,001 | 18,321 |
| Employer contributions to pension plans | 1,248 | 367 |
| --------------------------- | --------------------------- | |
| 66,249 | 18,688 | |
| =========================== | =========================== |
The average head count of employees during the period was 3 (2020: 3). The average number of full-time equivalent employees during the period is analysed as follows:
| 31 Mar 22 | 31 Dec | 20 | |
|---|---|---|---|
| No. | No. | ||
| Band management | 1 | 1 | |
| Administration | 2 | 2 | |
| -------------- | -------------- | ||
| 3 | 3 | ||
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total remuneration paid to key management personnel for services provided to the charity was £25,000 (2020:£8,333).
19
The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
17. Trustee remuneration and expenses
Trustee Remuneration, Honoraria and Expenses
| Trustee Remuneration, Honoraria and Expenses | ||
|---|---|---|
| 2022 | 2020 | |
| £ | £ | |
| Vice Presidents | ||
| Mr Bramwell Tovey | – | 11,484 |
| Councillors | ||
| Mr John Maines | 1,000 | 1,000 |
| Dr Nicholas Childs | – | 6,890 |
| ----------------------- | --------------------------- | |
| 1,000 | 19,374 | |
| ======================= | =========================== | |
| The following fees were paid to trustees in respect of work undertaken on behalf of | the charity. | |
| Fees were paid on normal commercial terms. | ||
| 2022 | 2020 | |
| £ | £ | |
| Trustees | 6,520 | 2,120 |
| ======================= | ======================= | |
| Reimbursement of expenses incurred to attend council meetings | ||
| 2022 | 2020 | |
| £ | £ | |
| Trustees | – | 445 |
| Vice Presidents | ||
| ============== | ============== | |
| Reimbursement of other expenses incurred on behalf of the charity | ||
| 2022 | 2020 | |
| £ | £ | |
| Trustees | 3,518 | 29 |
| ======================= | ============== |
The following fees were paid to trustees in respect of work undertaken on behalf of the charity. Fees were paid on normal commercial terms.
No honoraria amounting to more than £60,000 were during the period (2020 - Nil).
Indemnity insurance is taken out to cover the potential liability of trustees.
During the period, 7 Trustees were reimbursed expenses and received fees amounting to £11,038 (2020 13 trustees - £15,670).
18. Transfers between funds
The transfer from Unrestricted Reserves to the Arts Council Fund of £49,178 arose as a result of the excess of expenditure over income and brought forward balances on this restricted fund.
20
The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
19. Investments
| Investments | |||
|---|---|---|---|
| Shares in | |||
| Listed | group | ||
| investments | undertakings | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| At 1 January 2021 | 4,271 | 1 | 4,272 |
| Additions | – | – | – |
| Fair value movements | 614 | – | 614 |
| ----------------------- | -------------- | ----------------------- | |
| At 31 March 2022 | 4,885 | 1 | 4,886 |
| ======================= | ============== | ======================= | |
| Impairment | |||
| At 1 January 2021 and 31 March 2022 | – | – | |
| ============== | ======================= | ||
| Carrying amount | |||
| At 31 March 2022 | 4,885 | 1 | 4,886 |
| ======================= | ============== | ======================= | |
| At 31 December 2020 | 4,271 | 1 | 4,272 |
| ======================= | ============== | ======================= | |
| The above carrying amounts are recognised as follows: | |||
| Shares in | |||
| Listed | group | ||
| investments | undertakings | Total | |
| £ | £ | £ | |
| At 31 March 2022 | |||
| Held at fair value | 4,885 | – | 4,885 |
| Held at historical cost less impairment | – | 1 | 1 |
| ======================= | ============== | ======================= | |
| At 31 December 2020 | |||
| Held at fair value | 4,271 | – | 4,271 |
| Held at historical cost less impairment | – | 1 | 1 |
| ======================= | ============== | ======================= |
Listed investments
The aggregate market value of listed investments is £4,885 (2020: £4,271).
Financial assets held at fair value
Valuation
All investments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds, unit trusts and open ended investment companies are at the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).
The significance of financial instruments to the ongoing financial sustainability of the charity is considered in the financial review and investment policy and performance sections of the Trustees' Annual Report.
21
The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
20. Investment entities
Since 30 November 2015, the company has owned 100% of the issued share capital of The National Children's Brass Band of Great Britain Limited, a company registered in England and Wales.
The National Children's Brass Band of Great Britain Limited is dormant and has never traded. The Charity is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the Charity as an individual entity.
21. Stocks
| 21. | Stocks | ||
|---|---|---|---|
| 31 Mar 22 | 31 Dec 20 | ||
| (restated) | |||
| £ | £ | ||
| Finished goods and goods for resale | 2,245 | – | |
| ======================= | ============== | ||
| 22. | Debtors | ||
| 31 Mar 22 | 31 Dec 20 | ||
| (restated) | |||
| £ | £ | ||
| Trade debtors | 8,624 | – | |
| Prepayments and accrued income | 17,331 | 2,629 | |
| Gift aid income tax recoverable | – | 766 | |
| --------------------------- | ----------------------- | ||
| 25,955 | 3,395 | ||
| =========================== | ======================= | ||
| 23. | Creditors: amounts falling due within one year | ||
| 31 Mar 22 | 31 Dec 20 | ||
| (restated) | |||
| £ | £ | ||
| Trade creditors | 2,232 | 1,848 | |
| Accruals and deferred income | 47,329 | 28,590 | |
| Social security and other taxes | 890 | 194 | |
| Amounts due on unpaid share capital of subsidiary undertaking | 1 | 1 | |
| Other creditors | 520 | 253 | |
| --------------------------- | --------------------------- | ||
| 50,972 | 30,886 | ||
| =========================== | =========================== | ||
| 24. | Deferred income | ||
| 31 Mar 22 | 31 Dec 20 | ||
| (restated) | |||
| £ | £ | ||
| At 1 Jan 21 | 21,135 | – | |
| Amount released to income | (21,135) | – | |
| Amount deferred in period | 42,744 | 21,135 | |
| --------------------------- | --------------------------- | ||
| At 31 Mar 22 | 42,744 | 21,135 | |
| =========================== | =========================== |
22
The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
25. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,248 (2020: £367).
26. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 31 Mar 22 | 31 Dec | 20 | |
|---|---|---|---|
| (restated) | |||
| £ | £ | ||
| Recognised in income from donations and legacies: | |||
| Government grants income | 969 | – | |
| ============== | ============== |
27. Analysis of charitable funds
Unrestricted funds
| At 1 Jan | Gains and | At 31 Mar | ||||
|---|---|---|---|---|---|---|
| 2021 | Income | Expenditure | Transfers | losses | 2022 | |
| £ | £ | £ | £ | £ | £ | |
| General funds | 157,863 | 104,482 | (34,073) |
(49,178) | – | 179,094 |
| Maud Wright | ||||||
| Fund | 83,127 | – | – |
– | – | 83,127 |
| Revaluation | ||||||
| Reserve Fund | – | – | – |
– | 614 | 614 |
| -------------------------------- | -------------------------------- | --------------------------- | --------------------------- | -------------- | -------------------------------- | |
| 240,990 | 104,482 | (34,073) |
(49,178) | 614 | 262,835 | |
| ================================ | ================================ | =========================== | =========================== | ============== | ================================ | |
| At 1 Jan | Gains and | At 31 Dec | ||||
| 2020 | Income | Expenditure | Transfers | losses | 2020 | |
| (restated) | ||||||
| £ | £ | £ | £ | £ | £ | |
| General funds | 145,497 | 12,898 | (532) |
– | – | 157,863 |
| Maud Wright | ||||||
| Fund | 83,127 | – | – |
– | – | 83,127 |
| Revaluation | ||||||
| Reserve Fund | – | – | – |
– | – | – |
| -------------------------------- | --------------------------- | -------------- | -------------- | -------------- | -------------------------------- | |
| 228,624 ================================ |
12,898 =========================== |
(532) ============== |
– ============== |
– ============== |
240,990 ================================ |
Maud Wright Fund - this unrestricted fund represents the donations received from the Estate of the Late Mrs Maud Wright for the charitable activities of the Charity in respect of the Youth Band and the Children's Band.
Revaluation Reserve Fund - this unrestricted fund represents the aggregate unrealised gains on the revaluation of the investments held by the Charity which are marked to market at the end of each accounting period.
23
The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
27. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | ||||||
|---|---|---|---|---|---|---|
| At 1 Jan | Gains and | At 31 Mar | ||||
| 2021 | Income | Expenditure | Transfers | losses | 2022 | |
| £ | £ | £ | £ | £ | £ | |
| William Patterson | ||||||
| Trophy Fund | 500 | – | (50) |
– | – | 450 |
| Arts Council Fund | 15,149 | 148,796 | (213,123) |
49,178 | – | – |
| Worshipful | ||||||
| Company of | ||||||
| Musicians | – | 2,400 | (1,200) |
– | – | 1,200 |
| In Memory of | ||||||
| Philip Biggs | 1,783 | – | – |
– | – | 1,783 |
| GWF Fund | – | 15,000 | (9,857) |
– | – | 5,143 |
| Bursary Fund | – | 12,162 | (7,087) |
– | – | 5,075 |
| Summer Courses | ||||||
| Fund | – | 10,000 | (10,000) |
– | – | – |
| 70th Anniversary | ||||||
| Fund | – | 10,000 | – |
– | – | 10,000 |
| RMBS Fund | – | 20,000 | (20,000) |
– | – | – |
| --------------------------- | -------------------------------- | -------------------------------- | --------------------------- | -------------- | --------------------------- | |
| 17,432 | 218,358 | (261,317) |
49,178 | – | 23,651 | |
| =========================== | ================================ | ================================ | =========================== | ============== | =========================== | |
| At 1 Jan | Gains and | At 31 Dec | ||||
| 2020 | Income | Expenditure | Transfers | losses | 2020 | |
| (restated) | ||||||
| £ | £ | £ | £ | £ | £ | |
| William Patterson | ||||||
| Trophy Fund | 550 | – | (50) |
– | – | 500 |
| Arts Council Fund | 12,145 | 119,263 | (116,259) |
– | – | 15,149 |
| Worshipful | ||||||
| Company of | ||||||
| Musicians | – | 1,200 | (1,200) |
– | – | – |
| In Memory of | ||||||
| Philip Biggs | 1,634 | 149 | – |
– | – | 1,783 |
| GWF Fund | – | – | – |
– | – | – |
| Bursary Fund | – | – | – |
– | – | – |
| Summer Courses | ||||||
| Fund | – | – | – |
– | – | – |
| 70th Anniversary | ||||||
| Fund | – | – | – |
– | – | – |
| RMBS Fund | – | – | – |
– | – | – |
| --------------------------- | -------------------------------- | -------------------------------- | -------------- | -------------- | --------------------------- | |
| 14,329 | 120,612 | (117,509) |
– | – | 17,432 | |
| =========================== | ================================ | ================================ | ============== | ============== | =========================== |
24
The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
27. Analysis of charitable funds (continued)
William Patterson Trophy Fund - this restricted fund represents the balance on a donation from the family of William Patterson, a Salvation Army bandmaster who died in 2005. This award is given annually to a baritone trombone or euphonium player, along with a trophy.
Arts Council Fund - this restricted fund represents all the donations received from Arts Council England to the Charity, as a National Portfolio Organisation, for the charitable activities of the Charity in respect of the Youth Band and the Children's Band.
Worshipful Company of Musicians Fund - this restricted fund represents all the donations received from The Worshipful Company of Musicians, to provide bursaries in respect of the Youth Band and the Children's Band.
In Memory of Philip Biggs- this restricted fund represents the remaining balance of the donations received from individuals to honour the memory of Philip Biggs. These funds will be used to digitise the music scores in the Charity library.
GWF Fund - this restricted fund represents all the donations received from the Garfield Weston Foundation to: support our fundraising activity and develop new programmes; to grow our fundraising by developing an alumni engagement programme, alumni and donor database and legacy fundraising materials; to develop our outreach work by piloting two approaches - inspiring school visits led by our teenage members and masterclasses with our soloists for music hubs; and hold a national conducting competition to contribute to the opportunities available for young (aged 18-30) brass band conductors.
Bursary Fund- this restricted fund represents all the donations received from individual donors and charities and companies using the specific funding pages of various webgiving sites. These funds are used to provide bursary funds to participants to the courses and concerts put on by the Charity.
Summer Courses Fund - this restricted fund represents all the donations received from donors who are providing support for the Summer course in 2021.
70th Anniversary Fund - this restricted fund represents all the donations received from donors who are providing support for the forthcoming Anniversary celebrations.
RMBS Fund - The Royal Marines Band Service ("RMBS") restricted fund represents all the In-Kind donations received from the Royal Marines Band who are providing support for: performing in and producing a joint video recording of Dan Price's Andromeda; making band personnel available for online masterclasses and talks for the Easter 2021 online course; making an officer available to judge the Harry Mortimer competition at the Summer 2021 residential course and providing a performance opportunity for the winner at a Royal Marines Band concert; making an office available to judge the NYBBGB Garfield Weston conductors' competition; and creating and producing 24 tuition videos for the advanced series of the brass Building Block project.
25
The National Youth Brass Band of Great Britain
Notes to the Financial Statements (continued)
Period from 1 January 2021 to 31 March 2022
28. Analysis of net assets between funds
| Analysis of net assets between funds | |||
|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 4,886 | – | 4,886 |
| Current assets | 308,921 | 23,651 | 332,572 |
| Creditors less than 1 year | (50,972) | – | (50,972) |
| -------------------------------- | --------------------------- | -------------------------------- | |
| Net assets | 262,835 | 23,651 | 286,486 |
| ================================ | =========================== | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| (restated) | |||
| £ | £ | £ | |
| Tangible fixed assets | 4,272 | – | 4,272 |
| Current assets | 267,604 | 17,432 | 285,036 |
| Creditors less than 1 year | (30,886) | – | (30,886) |
| -------------------------------- | --------------------------- | -------------------------------- | |
| Net assets | 240,990 | 17,432 | 258,422 |
| ================================ | =========================== | ================================ |
29. Financial instruments
The carrying amount for each category of financial instrument is as follows:
| 31 Mar 22 | 31 Dec 20 | |
|---|---|---|
| (restated) | ||
| £ | £ | |
| Financial assets measured at fair value through income and expenditure | ||
| Financial assets measured at fair value through income and | ||
| expenditure | 4,885 | 4,271 |
| ======================= | ======================= |
30. Prior year adjustments
The Statement of Financial Activities and the Statement of Financial Position at 31 December 2020 have been restated to better comply with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
There were no material changes to the total figures in the Statement of Financial Activities as a result of this restatement. However, the opening restricted funds at 31 December 2019 were adjusted by £500 arising on the incorrect allocation of William Paterson Trophy funds to deferred income in the year ended 31 December 2020 and the reclassification of the tangible fixed asset investments of £4,272 which had previously been included in cash balances.
26