## _**Trustees Annual Statement**_
09/01/2025
The Cherubim Trust continued to raise funds and acquire instruments for loan to students. It presented a number of musical events during the year, and expanded its social media coverage.
## **THE CHERUBIM MUSIC TRUST BALANCE SHEET AS AT 31 JULY 2024**
|**FIXED ASSETS (Note 1)**
Instruments at cost brought forward
Additions at cost and valuation during year
**CURRENT ASSETS**
Current Account - Natwest
Deposit Account - Shawbrook
Deposit Account - CAF Gold
Current Account - CAF 2
Deposit Account - Saffron
Paypal Account
**Current Liabilities**
Balance on SaxOphone
VAT
**Nett Current Assets**
**ACCUMULATED FUND**
Opening Balance as at 1st August 2023
Instruments gifted
Surplus for the year|2024
£
220
40000
30125
13148
85000
457
168950
0
344|£
291029
30954
321983
168606
490589
331805
19000
139784
490589|2023
£
270
10000
24917
2495
0
2863
40545
2370
-2598|£
274311
16718|
|---|---|---|---|---|
|||||291029
40773|
|||||331802|
|||||328065
0
3740|
|||||331805|
Note 1:
Instruments are entered in the Balance Sheet at purchase price or estimated value if donated. At 31 July 2024 the total insured value of the Trust's instruments was £486850 and the insured value of third party instruments placed with the Trust for loan was £114200.
## **THE CHERUBIM MUSIC TRUST INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024**
|**INCOME**
Donations and sponsors
Subscriptions
Interest
Gift Aid
Concerts/Events
Instrument insurance Awardee Payments
Instrument Rental Charges
Instruments Sold
**Less: EXPENDITURE**
Sales and Marketing
Instrument maintenance
Website & promo
Transportation
School Workshops/Facilities
General Expenses
Concert promotion
Concert fees
**ADMINISTRATION**
Salaries and fees
Instrument insurance
Management Expenses
Bank charges
**NET SURPLUS FOR THE YEAR**|2024
£
171500
3797
1802
81
8084
4758
7132
4085
4336
4465
1085
1086
4052
713
4475
20212
35708
3652
1715
168
41243|£
201239
61455
139784|2023
£
18285
4549
339
149
19405
2477
5865
1194
1247
2104
1413
3540
1164
5710
16372
26901
2727
975
354
30957|£
51069
47329|
|---|---|---|---|---|
|||||3740|
We have completed the above Income and Expenditure Account without carrying out an audit from the books, vouchers, information and explanations supplied to us.
3rd December 2024
PRYOR BEGENT FRY & CO.
97 Meneage Street, Helston, Cornwall
CHARTERED ACCOUNTANTS
Independent Examiner's Report to the Trustees of
THE CHERUBIM MUSIC TRUST
We report on the accounts of the Trust for the year ended 31 July 2024, which are set
out on the attsched pages.
Respective Responsibilities of Trustees and Examiner
The Charity's Trustees are responsible for the preparalion of the accounts. The
Charity's Trustees consider that an audit is not required for this period (under section
144 of The Charities Act 2011 (The Charities Act), and that an independent
examination is needed. It is our responsibility to:
Examine the accounts (under section 145 of The Charities Act),
To follow the proLedures laid dowii in tlie General Directions given b). the
Charity Commission (undci. sLction 145(5)(B) of Tlie Charities Act. and
To state wliether particular mailers have come to our atlention.
Basis of Independent Examiner's Report
Our examination was carried out in aLLordanLe with thc GLneral Directioiis given by
the Charily Commissioners. An examination includes a review of the aLcounting
records kept by the C'liarity and a coniparison ot. the accouiits presenled with those
rccords, It also includcs considL'ratioii of ali). unusual ilL'ms or disclosures in thL'
accounts. and seeking explanations Irom thL trustee.% concLriiiiig any sucli Inatters,
ThL proL'cdiirLs undcrtak'Ln do noi providL all ihL' Lvidcncc ihal would bL rLquirLd in
ali audit. and L()nsequeiiily no opiiiioii is gijN'en as to whetlier the aLcounts prLscnt il
true and fair view and ihe report is liinitcd to ihose niatters set out in the statement
below.
Independent FJxaminer's Statement
In connection with our examination, no maller has come to our attention:
which g)ives us reasonable cause to believe ilial in any material respect the
requir¥ments.'
To keep accoiinting records in accordan¢e w'itli section 130 of The Charities
Act
To prepare accounts which accord with the accountiiig records and comply
with the accoiint requircments ot" The Charities Act Iiave iiot beei) niet
(2)
to which, in our opinion. attention sliould be drawn in order to enable a proper
understanding of the accounts to be reached.
,FCA
Pryor, Begent, Fry & Co
CHARTERFD ACCOUNTANT
97 Meneage Street,
Helston,
Cornwall.
TR13 8RE
Dated.. 5 December 2024