2022-07-31-accounts

Trustees. Annual Report for the peiiod To usy 2021 Section A Reference ap,d administration dciai.S Charfty n•rn V*y 1092645 chai￿ FYinclp•l addrns clo Wye Valley Music PostGode GL15 6SJ Offlct{Wary) Chairperson Il•me of p•rnon (orbotty) •nlftl¢d Corinna Amold Alice HcwJge David Michael Treasurer Mthael Geofftey Haine8 Manager 10 11 12 13 14 15 16 17 18 19 20 Names of the tru$teeb forthe charity. rfany. {for •xample. any custothan tsustoes) TAR M4rrh 2012

Ind•pgndent Yew Tree H(Ke. E&%t & Sl Bri￿& Gk. GL15 6TQ Section B Structure, overnance and management Descrfpoon of the charl￿$ tnmts You may choose to include a(Idftlonal infornatm. whern relevant, aboul: adopted for the induciKXI training of trustees: . the charitys CKganis8iKJn stnjcture and any wider works; • relationshyp wilh any parl8S; risks and the system and prcr*Jure5 to riwage Soction C Objectives and activities and educatN)n of the puuic: chartty set out in its govamlry documont TAR Marth 2012

The Scmietys aim of wov¥Jing op￿￿￿ kn youTrJ MUS￿ was fulFdled by including 1 0)rmtWhe￿ sludeFts from ihe Royal Welsh College of Musr perf￿rned. The Scwiety has h&J rega￿ to the guidance is5￿1 by the Charity The chamber musr ￿ wesenl is ofa qually rarety otheThYr heard in siies, email and letter (X￿aCt kn. Ixth5 arKI fyers. Sludents onty nomirol adrnrssion. The ofaIt￿mI￿ the publlc has risen in Summary of the main actlvlties undertaken fiwth• pubjlc benefft in relati￿) to thoso oblocts (includ• lthln th18 section the statsrtuy declaratlon thattrustets hav• had regard to thè guid•n¢• Issued by the Charity CommSssh>n on publF b•nefrt) resull of the extension of the wli¥ibes of the Soclety from mainly St Briavel8 to the wIderW￿ Valleyam. rfated tty the adopti￿ oftha Wye Valley Musi TAR IAard12012

• contritrArt1￿ fi￿Je TAR Marrh 2012

during the Section E Financial review TAR Marth 2012

In doll¢tt the chwilys soutces of any I￿KIr8￿1ng)." WVM has ttvo outreach programmes which are financially self-sufficieftt and noT reliant on any WVM funding: Wye Valley Music in School which brings live music into local primary schools. and Wy¢ Vall¢y Musi¢ in Mind ivhich brings music io people living with dementia and th¢ir careTS. Their fvnding 15 grani and donation based; both rais¢ money from small ¢hariti¢s.' adopted. Section F Otlier optional information Furth8r SrfftXTh￿n atTht tha ¢harty (n ￿ obtslnèd fr￿n the charivs ￿b￿le. https.IA￿.Wyeva1leYrnUs1C.org.uk Section G Declaration Full nvn•(•) Co f i *)IIA Z3 TAR Mwth2012

Income and Expenditures

Year Ended July 31st, 2021

Income	2021-2022	2020-2021	2019-2020
WVM
MembershipSubscriptions	4567	2429	2801
Ticket Sales	12733	2261	6567
Concert related extras	0	0	194
Sponsorship	0	0	225
Donations	664	400	525
Programme cover advertising	0	0	300
Other income	0	0	100
Gift Aid recovered	0	0	1083
WVM Total Income	17963	5090	11795
WVM in Mind
Sponsorship	8750	0	n/a
Donations	215	813
Other	125	0
WVM in Mind Total income	9090	813
WVM inSchools
Sponsorship (Lark Trust)	3543	3500	4000
Other	230	500	0
Donations	295	129	0
WVM inSchools Total Income	4067	4129	4000
TOTAL INCOME	31121	10032	15795
EXPENDITURE
WVM
Musicians	9810	2196	4917
Venue hire	1029	200	824
Page turning	80	50	60
Piano tuning	450	75	140
Programme design	898	60	0
MakingMusic	140	200	163
Communications and website	586	207	338
Marketingandpublicity	0	0	920
Concert related extras(refunds)	35	0	227
Insurance	95	91	91
Administration	2	250	2359
Graphic design	60	59	401
Equipmentpurchases	338	0	0
Advertising	0	0	958
Brochure distribution	0	0	240
Printingand stationary	50	0	94
Donations	0	9	19
Gifts	0	0	100
WVM Expenditure Total	13573	3397	11851
WVM Income - Expenditure	4390	1693	-56
WVM in Mind
Musicians	4105	0	n/a
Venue Hire	308
Administration	252	104
Other	69

WVMiM Expenditure Total	4734	104
WVMiM Income - Expenditure	4356	709
WVM inSchools
Musicians	3809	1200	2499
Other	0	399	0
WVMiS Expenditure Total	3809	1599	2499
WVMiS Income - Expenditure	258	2530	1501
TOTAL EXPENDITURE	22116	5100	14350
TOTAL INCOME - EXPENDITURE	9004	4932	1455
Cash held at 31st July 2022
Current account	£21,242	£12,238
Deposit account	£2,720	£2,712
Total	£23,962	£14,950
Physical Assets
Piano(insured value £41000)	£14,500	£14,500
Piano stool	£545	£545
Four lamps	£260	£260
Lighting stands with lamps	£197	£197
Dehumidifier	£105	£105
Piano Cover	£288	£288
Piano wheels	£338	n/a
Electronic piano	£200	n/a
Total	£16,433	£15,895

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinefs report on the accounts Section A Independent Exèrniner s Report July 31° 2022 any) &5 dwity rfv Trusn 27A)7r2022 2011 fthe P£n. I report In respeci of my e￿Ir01￿)n of the Tnrfs ￿)UnIS ￿lfIed out under section 145 ofthe 2011 AGt and in Ca￿y1￿j my examination. I have folknhtd the applKable DiredNYlS given by ￿ Chaiity C(Mnmiss￿n under sedi)n 145(5)(b) of the Art. Independent I have ccffipleted my examinatkn. I confimi that material matte15 have examlnefs slatomont corne to my attentton (other th8n that disclosed telow") in connectton vAth the ex￿InatIon gives me to belkve that tn, any material the Act or slgned: qualificadorfsl or body (rf any): Octolwr 2018 IER

Section E 04s¢lo£Jr¢ h￿￿lig￿ mattw5 olccrtem (see CC32, any items thatthe examiner wyshes to dis¢lose. IER October 2018

Wye Valley Music- Charlty Number 1092645- Review of Accounts- 2021122 Summary Overall. the AC￿Unts are an accurate statement of the flnances of the Wye Valley Music society. All checks were ok, and the Accounts were consistent with the documentatlon supplied. There was one concem: There was no documentation for some significant expense items. so not all payments could be verlfied. Details of all the checks are given below, together wlth a few note5 and observatlons. InfvmTatlon supplled.. Copie5 of involces Bank statements for Lloyds and CCLA accounts System prlnts of all Income and Expenses transactlons. Account Summary Asset Ilst Checks.. Ac•)unt5 vs bunk5tatements The accounts were recorded on the Moneydance system, whlch is closely Integrated to the bank account. Two sample months of bank transactions were checked a8alnst the Moneydance prlnts. All checked out ok. Subsequent detall checks were a8alnst prints of the account5 from the Moneydance system. Checks.. Recelpts All ticket payments and most donatlons were input directly by members via the Tlcketsource system. All Ticketsource transactions cross•checked ok to the accounts. Almost all membership payments are made dlrect through the bank. Four payments were entered manually ok. It was not Posslble to check that every manual donation and membership payment had been paid in, or that they had been entered corrertly. All Income transactlons were correctly allocated to the approprlate account. Checks." Payments All payments In the biggest expense cate8orle5 {Performers, Musicians, Venue Hlre, Programme Des & Print, and Comm5 & Websltel, and a sample of payments In other categories, were checked agalnst involces. There was supportin8 documentstion for most payments in the biggest expense ategories. except for eight payments to Performers, three payments to Musicians, and the regular payments to the email and marketln8 company. All sample payments had matching invol¢e5, and all sample Invoices had matchln8 payments. All payments were correctly allocated to the approprlate account. Checks.. Account Summary The Account Summary was checked a8ainst the totals on the detall lists of receipts and payments- all checked out ok. SubtotsSs and Overall tota15 all checked out ok.

Checks.. Cash Held The opening and closing bank balancesfor the current and deposit accounts were checked a8ainst the Bank statements~ all checked out ok. The Lloyds opening bank balance plus Receipts less Payments reconclled with the closing bank balance Che(ks.' Physlcal Assets No check5 were done on the exISten￿ or walue of the Physical Assets.

Notes and Obser¥ations- Re¢elpts No bank paying book was supplied. As there were relatively few items paid in manually. this was not a major concern. Like last year, no Glft Aid was reclaimed. Thi5 can still be reclaimed next year but would have been better included in thi5 yearfs accounts. Payments A lot of searching was needed to flnd invoices to match payments. It Is important that all Invoices are filed at the tlme they are paid. A5 mentioned in the summary, several payments to Performers and Muslclans had no paperwork. It Is not easy persuade artists to submit invoices, but any paperwork would help. such as email confirmation of receipt of payment. Cash Held It would be extremely usefvl if thls also showed the opening bank balances. Thi5 would enable a clear reconciliation wlth the publlshed accounts from the prevlous year and indicate how much thlngs have changed over the year. The yleld on the CCLA COIF Investment account has rlsen. It mlght be worth investing more of the Charity funds. PhyslcalAsset5 Assets been valued on their cost. Whlle this is normal with cash accounting, the current value may be substantlally dlfferent. Th15 is particularly important wlth the plano, and insurance cover should be kept in line wlth the replacement cost. Charlty The name on the Charity Register is still St. Brlavels Music Society. This should be changed to reflect the current name. The 2019-2021 financial results on the Charlty Re8iSter are slightly d5fferent from the published accounts. Income on the Charity reglster is £10185, down by £7 from the accounts, possibly due to the13te Inclusion of E7 Interest from the savings account? Expenditure Is up by £1, probably lust roundlng.