## **CHESTER MUSIC SOCIETY** **TRUSTEES' ANNUAL REPORT for the year ended 31 July 2023** Reference & Administrative Details: **Charity Name:** Chester Music Society **Charity Number:** 1099094 **Company Number** 4793760 **Principal address:** c/o Dr D Taylor, 77 Mill Lane, Upton, CH2 1BS **Registered Office:** UHY Hacker Young, St John's Chambers, Love Street, Chester CH1 1QN **Main Banker:** NatWest, PO Box No 8, 33 Eastgate Street, Chester CH1 1XA **Members of the Board of Trustees** , who are also directors, on the date the report was approved or during the financial year: Michael Clarke (Chairman) Penny Clarke (Vice Chairman) Sue Russell (Secretary) David Taylor (Treasurer) Sue Taylor (Assistant Treasurer) John Wishlade (Publicity) Co-opted John Ferrari Jon Penn Berkeley Ranby ## **Structure, Governance & Management** The Charity is a Company Limited by Guarantee, governed by its Memorandum and Articles of Association. It is registered as a Charity with the Charity commission. The Board of Trustees meets at least five times a year; day to day management of the activities is in the hands of three sectional committees and designated sub- committees of the Board. Any funds surplus to requirements are held in interest bearing deposit accounts or recommended investments which are reviewed on a regular basis. One third of the trustees who are subject to retirement by rotation are elected annually at the Company’s Annual General Meeting. All Board Members are volunteers and unpaid. There is a simple vetting procedure for new Board Members and they are provided with an information pack about the charity and their responsibilities. The Charity is a member of Making Music, the UK’s foremost umbrella group for amateur music. This assists with technical and developmental aspects of the Charity’s activities. ## **Objectives and Activities** The Charity’s objects are to provide, maintain, improve and advance education in the widest sense of the word by furthering public appreciation of music (Memorandum of Association para. 4). The Charity aims to play a significant part in Chester’s on-going cultural life as one of the strategic arts organisations in the city. It provides a varied programme of predominantly classical music that would not otherwise be provided in the city and surrounding region by commercial organisations. It contributes to the cultural richness of the city and to diversifying the social life of the city centre. The Charity is organised into three sections: - - Showcase Concerts provide a platform for local amateur and semi-professional performers from the Chester and neighbouring areas. Opportunities for performance experience are also given to local schools and colleges. - The Choir: provides musical participation for up to 150 adults of all ages and performs high quality concerts using amateur and professional musicians from the Chester area and beyond. - Celebrity Concerts bring national and international professional chamber music artists to our Chester audience. Promotion and implementation of events outside the remit of the three sections are the responsibility of specific sub-committees of the Board of Trustees. - 1 - The Charity takes a leading role in the promotion and coordination of musical life in Chester and in cultural initiatives provided by Cheshire West and Chester Council. The Trustees have full regard to the Charity Commission’s guidance on public benefit. The Charity’s aims and activities fulfil the public benefit requirement of the Charities Act, 2011. Its charitable purposes are concerned with the advancement of education and the advancement of musical culture. They also contribute to the advancement of citizenship and community development through the opportunities offered to all age groups to hear, participate in, and organise a varied range of musical events. The Charity’s beneficiaries are all those in the Chester region and elsewhere who wish to experience its activities as audiences, performers and members. Ticket Prices and Subscriptions are set achieve break even against operating cost and expenses as far as is possible. Discounted tickets and subscriptions are offered to unemployed people, people with disabilities, school children and students. The Society takes a robust and systematic approach to assessing and managing risk. The Risk Register identifies possible risks to the Company and is reviewed on a regular basis. Any new risks that have arisen and any ongoing risks already identified are discussed and acted upon where possible at each Board meeting. The main risks that the Society identified in the current period are the failure to recover membership post the pandemic with consequent loss of income and potential ongoing viability of all sections of the society. The Society has identified mitigation plans to deal with these eventualities both now and going forward. A comprehensive range of Policies exist for implementation by the Board of Trustees and the wider society membership. These are reviewed on a regular basis and comprise the following topics, - GDPR - Financial Reserves - Investment - Safeguarding Children and Vulnerable Adults - Health and Safety - Equal Opportunities New Trustees are usually recruited following a period as members of subcommittees or sections and in some cases are co-opted prior to appointment. This ensures, alongside the induction programme that new trustees are aware of their responsibilities. ## **Achievement & Performance** 2022-23 saw the return to a level of activity last seen pre-Covid. A successful and enjoyable string workshop was held in July at Abbeygate College. There were 42 participants playing together in various chamber groups with guidance from experienced tutors. November saw the return of the Young Musicians Competition with a good level of entries across a wide range of instruments and ages. This was also held at Abbeygate College and was highly successful and a very highs standard of musicianship was witnessed. The venue was considered ideal for this type of event with several rehearsal spaces being available and the advantage of an excellent small theatre for the actual performances. The Choir Section looked forward to returning to some sort of normality in Season 22-23. Budgets were prepared on a somewhat pessimistic basis to allow for the fact that audiences would probably not return to full strength for some time. In an attempt to balance the books, the annual membership fees were increased by 75%. This did not appear to affect member numbers which were similar to the previous year at around 140. Wesley Methodist Church remained the Choir’s rehearsal venue throughout the year. Progress was made with the staging during the season - missing and damaged components have been resolved, AAM (the staging contractor) has progressively become more efficient and consequently the cost has reduced to c. £2,400 per concert, AAM now liaise directly with cathedral staff. The Society’s relationship with the Cathedral staff improved over the year, but there were still several issues to negotiate. However, new ways of - 2 - working were found to accommodate these. The first Choir Concert of the Season was VaughanWilliams Sea Symphony. Ticket sales were better than expected – 364 versus the budgeted 316. An increase of 15% over the previous year's November concert. The next concert was Christmas Crackers. There was a different format this year due to only one night’s availability in the cathedral. Ticket sales were 708 with all seats sold (the last seats being sold on the day which suggests supply equalled demand). Roger McGough had to cancel on the day but fortunately Nick Fry was able to step in at short notice. One upside of this was that Nick’s fee was considerably lower hence increasing income! The one-night format also maximised revenue. The March concert (Brahms) attracted 240 ticket sales which was disappointing for an orchestra concert (budget = 316). The May concert (Requiems) sold 225 tickets which was again disappointing (budget = 316), although for a concert without a full orchestra, the budget was probably overly optimistic. Final costs for the season resulted in a minor surplus. Other Choir activities were the annual Singing Day in St Marys Creative Centre in March and a social fund-raising event at Easton Hall last June. These were both very enjoyable and an overwhelming success. This year a Choir Members’ 5 Yearly Survey was undertaken as is normal at the end of the Music Director’s contract of engagement. The opportunity was also taken to ask the choir members for their opinions on various other matters apart from the MD’s performance. Overall, the respondents were in favour of re-appointing Graham Jordan Ellis as Music Director. lIn summary, the 22-23 season was very positive and some major steps to recovery were achieved. The Celebrity Concert section put on a series of six concerts starting on the 12[th] October 2022 and concluding on 8[th] March 2023. With continuing audience uncertainty after Covid a cautious approach was again taken with budgeting of artists fees and the number of subscribers was again set at a maximum of around 80. In the event we had a total of 71 subscribers. Individual concert ticket sales were again made available for all concerts with varying results ranging from 9 to 50 additional seats sold per concert. Total audience numbers remain well below the pre covid highs of 130 plus. All of the concerts were of an excellent standard and contained many fine moments of music making. The series welcomed back Martin Roscoe performing solo works for Piano. He provided another wonderful piano recital and was particularly thrilled to be made our new President of the Society this year. The Showcase Section held a limited series of 5 live concerts in the 2022-23 season. Schools’ participation which in the past has been a significant part of Showcase series were non-existent due to great reluctance of any school to offer performing groups or soloists. For the first time since Covid Subscription Tickets were offered and 15 members participated. This is down by over 50% based on pre-Covid levels. Average attendance was 55 per concert which is considered a reasonable number based on historic levels. This resulted in a small deficit of around £315 which was easily covered by additional income from members donations from a previous cancelled concert. CMS activities enrich the experience of participants and contribute to the Society’s aim of “furthering the public appreciation of music”. The Board of Trustees owes its volunteers a large debt of thanks and would like to take this opportunity to pay tribute to the hard work, dedication and enthusiasm of the many people who contribute to the success of the organisation. The BoT are extremely grateful for all the donations and support received during the season across all the Sections, and in particular from many members associated with the Choir Section. ## **Financial Review.** The financial resources held by the Society are sufficient to allow it to pursue its prime objective of furthering education and the public appreciation of music. The Statement of Financial Activities for 2022/23 shows that the total available funds at year end stood at £150,986 with a net negative movement in funds of £1,672compared with a net positive movement of £12,403 in 2021/22. Net incoming funds of £633 led to unrestricted funds of £107,583 compared with £106,950 in 2021/22. Net outgoing funds of £2,305 resulted in restricted funds of £43,402 against £45,708 in 2021/22. The Notes to the Accounts show that within the - 3 - unrestricted funds two designated Funds, totalling £11,621, remained at year end. Restricted funds have four named Funds, required to be used for specific named purposes. There are no Funds materially in deficit. Market uncertainty has resulted in our investments sustaining a loss of £2,268 to £65,239, compared to a loss of £5,121 in 2021/22. Overall, our attitude to investment risk is lower medium and we have a moderate ability to bear an investment loss. The Society does not take into account social, environmental or ethical considerations in its investment policy. The Society’s tangible fixed assets that could be disposed of to potentially provide resources for future activity are Choir staging currently valued at £34,752 and a Steinway piano currently valued at £12,038. Our annual income comes from subscriptions, donations, ticket sales, fund raising and investments. Our expenditure is connected with both performing and promoting live concerts and necessary administration. This year the normal activities of the Society were planned with budgets set taking into account the ongoing reducing effects of Covid-19 on audience numbers. These programmes were all successfully completed with no need for any unplanned support from the reserves. Throughout this last year regular on-line meetings of the Board of Trustees and sub-committees continued to ensure proper management of the Society and financial matters were regularly monitored and discussed. In particular no restricted funds were used inappropriately. Overall, the financial position, including the reserves, of the Society are such that it is able to plan and run a normal season for 2023/24, whilst being aware that the remaining ongoing effects of Covid-19 and the Energy crisis and increasing production costs require careful monitoring and vigilance in order to react where necessary to changing circumstances and remain financially secure. ## **Policy on Reserves** The Society continues to set aside sufficient reserves to enable its programme of concerts and events in order to meet the Charity’s aims. The society aims to hold reserves of about £48,000. The society employs no staff, owns no buildings or any ongoing leases and therefore the effect of unplanned closure to beneficiaries is extremely low. The following considerations are monitored regularly by the Board of Trustees. - Some activities are not income bearing or with low income (Young Musician competition and the schools programme) but contribute significantly to the society’s overall objectives. - The age demographic of our audience and membership is on the older side with the potential to see reductions in both audience and membership numbers. - We need to ensure that we have sufficient reserves to cover a significant underperformance on planned membership or audience figures. - We need to have sufficient reserves to ensure that we are able to manage our cash flow. - We need to ensure that we have sufficient reserves to cover any uninsured catastrophic losses in the year. - We need to build reserves to replace some of the restricted funds created from a generous gift that the society deploys. This will enable the society to continue those activities for which the funds are designated as they become depleted. The ongoing assessment and management of risk, prudent management of resources and planning to ensure sufficient reserves ensures that services are maintained. ## **Plans and Outcomes for 2022-23** Plans for 22/23 season - Consolidate existing membership numbers and attract new ones. _**OUTCOME: Membership numbers continue to decline slowly as some older members cease to participate and only a few new younger members come in.**_ - 4 - - Attract new committee members to protect against likely future retirements. _**OUTCOME: No new committee members were attracted.**_ - Work within whatever guidance prevails to ensure our rehearsals and venues are safe. _**OUTCOME: All sections produced and implemented risk assessments and checklists for their activities. Compliance with venue owners’ requirements was maintained throughout.**_ - Build back to a full programme of events. _**OUTCOME: This was generally achieved albeit with reduced audience numbers in most cases. Schools remain reluctant to participate in performance and workshops.**_ - Ensure appropriate budgeting and marketing through the difficult post Covid period to ensure the Society’s ability to continue through the coming years. ## _**OUTCOME: Successfully achieved as described in the Financial Report.**_ ## **Plans for the Future** Plans for 23/24 Season - Continue to consolidate existing membership numbers and find ways to attract new ones. - If possible, find new committee members, especially for the Celebrity Concert and Showcase Sections, Future retirements are inevitable as the age demographic slowly increases. - Work within whatever guidance prevails to ensure our rehearsals and venues are safe. - Maintain a full programme of events. - Encourage more participation from local schools in our workshops and performance opportunities. - Maintain appropriate budgeting and marketing to ensure the Society’s ability to continue through the coming years. ## **Funds held as Custodian Trustees;** The Charity does not hold funds on behalf of any other charity. ## **Responsibilities of Trustees** The trustees are responsible for preparing the Trustees Report and financial statements in accordance with applicable law and regulations and in accordance with the UK generally accepted accounting practices. Company law requires the trustees to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the end of the year and of the incoming and outgoing resources for the year then ended. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently, making judgements and estimates that are reasonable and prudent. The trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its activities. Company law requires that the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees 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. ## **Declarations** The Trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees: M_Gke Michael Clarke, Chairman Date: 15/11/23 - 5 - Independent Examiner's Report We report on the accounts of the Chester Music ScKiety, a Tegistered charity and a company limited by guarantee for the year ended 31 July 20￿, as attached. Responsibilities and basi5 of report The charity's trustees are responsible for the preparation of the accounts. The eharity's trustees Consider that an audit is not required for this year under section 144 of the ChaTities Act 2011 and that an independent examination is required. Having satisfied ourselves that the charity is not subject to audit under eompany law, and is eligible for independent examinatioTh it is our responsibility to: Examine the accounts under section 145 of the Charities Act, Follow aIl applicable directions given by tELe Charities Cornmission under section 14515)(b} of the ChaTities Ac¢ and To state whether tnatteTS have come to our attention Basis of Independent Examiners statelnent Our examination wa5 conducted in accordance with the directions and guidance given by the Charity Commission. An examination includes a review of the accountin￿ records kept by the charity and a comparison of the accounts presented with those recoras. It also incIudes consideration of any unusual items OT dI￿10s￿re$ and seeking explanations Erom the trustees concerning any such matters. The procedures undertaken do not piovide evidence that would be required in an audit, and consequently no opinion is givpn as to whether the accounts present a'true and faif view, and the report is limiied to those matters set out Rn ttLe statement below. Independent Examiner's Statement We have completed our examination. We confirm that no material rnaters have come to our attention; Which gives us Teasonable cause to believe that in, any material respect the requArernents,' to keep accounttng records in accnrdance with section 130 of the Charities Act,. and to prepare accounts which accord with the accounting records and comply with the accounting req￿TerneThts of the Charities Act have not been met,. or To which, in our opinion, attention should be drawn to enable a Proper understanding of the accounts to be reached. Ann Lovatt FMAAT Date; 28 February 2024 Trident Tax and A¢¢ountancy Ltd Yr Hen Banc Business CÈntre, High Street. CaeTwrle, FIintslure LL12 9EU ## **CHESTER MUSIC SOCIETY STATEMENT OF FINANCIAL ACTIVITIES** (including summary income and expenditure account) Company Number: 4793760 Registered Charity: 1099094 For the year ended 31 July 2023 |**Note**
**Income**
**Income and endowments from:**
Donations and legacies
Charitable activities
Other trading activities
Investments
Separate material item of income
Other
Total income
**Expenditure**
2
**Expenditure on:**
Raising funds
Charitable activities
Other
Total expenditure
**Net income/(expenditure) before tax for**
**the reporting period**
Tax payable
**Net income/(expenditure) after tax**
**before investment gains/(losses)**
Net gains/(losses) on investments
5
**Net income/(expenditure)**
**Extraordinary items**
**Transfers between funds**
11
**Other recognised** **gains/(losses):**
Gains and losses on revaluation of fixed assets
for the charity’s own use
Other gains/(losses)
**_Net movement in funds_**
**_Reconciliation of funds:_**
Total funds brought forward at 1 August
10
**_Total funds carried forward at 31 July_**
9|**2023**
**Unrestricted**
**£**
38,394
38,133
13,180
390
255
**90,352**
3,385
82,254
2,562
**88,201**
2,151
0
2,151
(1,518)
633
0
0
**633**
106,950
**107,583**|**2023**
**Restricted**
**£**
0
5
0
0
0
**5**
0
1,560
0
**1,560**
(1,555)
0
(1,555)
(750)
(2,305)
0
0
**(2,305)**
45,708
**43,402**|**2023**
**Total**
**£**
38,394
38,138
13,180
390
255
**90,357**
3,385
83,814
2,562
**89,761**
596
0
596
(2,268)
(1,672)
0
0
**(1,672)**
152,658
**150,986**|**2022**
**Total**
**£**
45,723
27,495
11,278
38
0| |---|---|---|---|---| |||||**84,533**| |||||1,676
63,709
1,624| |||||**67,009**| |||||17,524
0
17,524
(5,121)
12,403
0
0| |||||**12,403**| |||||140,255| |||||**152,658**| 7 CHESTER MUSIC SOCIETY Company Number: 4793760 Registered Charity: 1099094 For the year ended 31 July 2023 STATEMENT OF FINANCIAL posmoN At 31 Jdy 2023 At 31 July 2022 FIXED ASSETS Tangible Assets Invèstments 46.789 65.239 112,028 49.301 67,507 116.808 Total fix&J As$8ts CURRENT ASSETS DèbtOTS'. amounts fallir4J due wilhin 1 year Amounts falling due wrthin more than 1 year Pr&payments lor next sèason Cash 8t Bank & in hand 6.257 30 257 40.198 46.742 16 30 913 46,937 47.896 Totsl ¢)Jrr8nl 0898ts Creditors.. amounts fallin9 due ¥￿thin one year Amounts fall￿n9 due wthin more than one year Ac¢ru815 15,1401 16341 16,2721 17,7851 Net ¢urronl as8•Wlliabllili88) 38,957 38,gFI 35,850 35,8SO TOTAL NET A8SETSIILIABILmESI THE FUND8 OF THE CHARITY Rastriet¢d Sn¢ome funds Revalu8tion restricted - InV￿tmonts UnreStr￿ted funds.. Rgvalu81ion unreslrictod- Invegtn*nts 42,219 1,183 103.527 4,056 43,775 1,933 101,376 5,574 Tdal FuTrJs The compony w9$ enlthedto &xempllon from tmdgr$477 ofths Cry8ni8s Act 2(￿6 rèlating to small Gompanbs. Tho momb•rs h8vg not wuired the company to obt8ln On Jutht in with 476 of the Ctsmpanies AGI 2006. The dArectors acknowl8dgo t1￿1r r9spon&thliti•s forcrylylng wlth th8 r89t￿nIs of the Cryaniés A¢t 4wlh Trsp8cl to accounting rocord$ and thg prnporation of accounts. Thesg accounts have tseen pmp8r&d irt 8¢¢0rf8nce wth Ihe applK8bl& to smaw Gompanles suty8cI lo Ihe sm811 companies rwine and lrt a¢wd8nGe ￿th FRS102 SORP. Siqn8d by one crf trusleesloirectors on b8hall of ￿1 Ihe tnjsteesldireclors Svdnature Print Name Dale ol approval D. J. TAYLOR 1>Nov-23 IA. CLARKE 1&Nov-23 Signature of directu authenticatir¥J aCCoL￿ts bwro Sent to Compar*s H￿$¥ Si9na¢ure Pn'nt Name S. J. RUSSELL ## **CHESTER MUSIC SOCIETY** ## **NOTES TO THE ACCOUNTS** For the year ended 31 July 2023 ## **1.1 Company status** The charity is a company limited by guarantee. In the event of the charity being wound up the liability in respect of the guarrantee is limited to £1 per member of the charity. ## **1.2 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 and with the Charities Act 2011. In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparitive items were required. No restatements were required. The charity constitutes a public benefit as defined by FRS 102. ## **1.3 Going concern** There are no material uncertainties about the charity's ability to continue and so the going concern basis of accounting has been adopted. ## **1.4 Change of accounting policy** The accounts have been prepared in accordance with FRS 102. ## **1.5 Income** Income is recognised in the Statement of Financial Activities (SOFA) when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. Grants and donations are included in the SOFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP). ## **1.6 Expenditure** Expenditure and creditors are recognised when a present legal and constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required to settle the obligation, and the amount can be measured reliably. Expenditure is measured on an accruals basis. Resources expended are allocated to the particular activity where the cost directly relates to that activity. ## **1.7 Fund accounting** Unrestricted funds are shown separately in the SOFA. They are available for use at the trustee's discretion in furtherance of the general objects of the charity. Restricted funds are those subject to specific conditions imposed by the donors or have been raised for a particular purpose. The cost of raising and administering such funds is charged to the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statement. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Investment income and gains are allocated to the appropriate fund. ## **1.8 Assets and depreciation** Tangible fixed assets used for charitable purposes are stated at cost less depreciation and all repairs are written off as incurred. Depreciation is currently charged at 5%. 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. ## **1.9 Investments** Investments are stated at market value as at the balance sheet date. The SOFA includes the net gains and losses arising in the revaluation and disposals of investments during the year. Investment income is accounted for on an accruals basis. Unrealised gains and losses are calculated by comparing previous balance sheet valuation to the year end valuation. 9 ## **2 Analysis of expenditure by activity** |**Activity**
Society general
Celebrity Concerts
Choir
Showcase
Total
**3**
**Fees for examination of accounts**
Cost of independent examination
**4**
**Tangible Fixed Assets**
**Cost**
on acquisition
**NET BOOK VALUE**
At 31 July 2022
Additions in year
Value prior to depreciation charge
Depreciation on assets brought fwd
Depreciation on additions in year
Depreciation for year
NET BOOK VALUE at 31 Jul 2023
**5**
**Investments**
Quilter Cheviot Managed Portfolio
At 1 August 2022
Unrealised gain (loss)
At 31 July 2023
**6**
**Debtors and prepayments**
Debtors due within 1 yr
IncomeDebtors due more than 1 year
Pre-payments - next season
Total
**7**
**Creditors, accruals & provision**
Creditors due within 1 year
Creditors due more than 1 year
Accruals
Old Accruals written off
**8**
**Cash at bank and in hand**
Short term deposits
Cash at bank and in hand
Total|**Raising**
**Funds £**
0
232
3,105
48|**Charitable**
**Activities £**
6,616
9,929
65,564
1,704|**Other**
**£**
2,512
0
50
0|**Total**
**£**
9,128
10,162
68,719
1,752| |---|---|---|---|---| ||3,385|83,814
**2022**
**£**
150
**Fixtures**
**Fittings &**
**Equipment**
**£**
**PIANO**
19,250
12,671
0
12,671
634
0
634
12,038
**Restricted**
**£**
21,933
(750)
21,183
**2023**
**£**
6,257
30
257
6,544
**2023**
**£**
0
0
7,785
7,785
634
**2023**
**£**
1,288
38,910
40,198|2,562
**£**
**STAGING**
37,554
36,630
0
36,630
1,878
0
1,878
34,752
**Total**
**£**
67,507
(2,268)
65,239
**2022**
**£**
16
30
913
959
**2022**
**£**
5,140
634
6,272
12,046
**2022**
**£**
1,283
45,654
46,937|89,761| ||**2023**
**£**
720
**Unrestricted**
**£**
45,574
(1,518)|||| ||44,056|||| |||||| 10 |**9**
**Funds in the current reporting period**
**Balance**
**Brought forward**
**£**
**Restricted Funds**
Choir Trips Fund
2,649
Celebrity Concerts Baxter Fund
28,070
Piano Maintenance Fund
4,050
Young Musicians' Fund
9,006
43,775
Revaluation (Deficit) Gain Investments
1,933
45,708
**Unrestricted Funds**
Designated:
- Showcase Activities Fund
10,391
- Hallett Memorial Fund
914
Other Charitable Funds
90,071
101,376
Revaluation (Deficit) Gain Investments
5,574
106,950
**Total**
**152,658**|**9**
**Funds in the current reporting period**
**Balance**
**Brought forward**
**£**
**Restricted Funds**
Choir Trips Fund
2,649
Celebrity Concerts Baxter Fund
28,070
Piano Maintenance Fund
4,050
Young Musicians' Fund
9,006
43,775
Revaluation (Deficit) Gain Investments
1,933
45,708
**Unrestricted Funds**
Designated:
- Showcase Activities Fund
10,391
- Hallett Memorial Fund
914
Other Charitable Funds
90,071
101,376
Revaluation (Deficit) Gain Investments
5,574
106,950
**Total**
**152,658**|**Resource**
**incoming**
**£**
0
2,068
88,284
90,352
90,352
**90,352**|**Resource**
**outgoing**
**£**
55
0
1,500
1,555
1,555
1,752
86,449
88,201
88,201
**89,756**|**Transfers**
**between**
**funds**
**£**
0
0
0
0
**0**|**Revaluation**
**Gain (Loss)**
**£**|**Balance**
**At end**
**£**
2,593
28,070
4,050
7,506| |---|---|---|---|---|---|---| ||43,775
1,933||||(750)|42,219
1,183| ||45,708||||(750)|43,402| ||10,391
914
90,071|||||10,707
914
91,906| ||101,376
5,574||||(1,518)|103,527
4,056| ||106,950||||(1,518)|107,583| ||**152,658**||||**(2,268)**|**150,986**| The Choir Trips Fund is restricted to use by the Choir on their concert trips. The restricted Celebrity Concerts Baxter Fund contains donations restricted for use by the Celebrity Concerts section The restricted Piano Maintenance Fund is to help maintain the quality of the piano used in the Celebrity Concerts series The restricted Young Musicians' Fund is to provide bursaries for outstanding young musicians and to facilitate access to live classical music performance for young people. The designated Showcase Activities Fund is set aside for the future stability of the Showcase Section. The designated Hallett Memorial Fund is set aside for use in activities in memory of Geoffrey & Lila Hallett |**10**
**Funds in the previous reporting period**
**Balance**
**Brought forward**
(Funds defined above)
**£**
**Restricted Funds**
Choir Trips Fund
2,744
Celebrity Concerts Baxter Fund
28,070
Piano Maintenance Fund
4,400
Young Musicians' Fund
9,006
44,220
Revaluation (Deficit) Gain Investments
3,398
47,618
**Unrestricted Funds**
Designated:
- Showcase Activities Fund
10,762
- 2021 Fund
15,000
- Hallett Memorial Fund
914
- Choir Staging Fund
38,000
Other Charitable Funds
18,731
83,406
Revaluation (Deficit) Gain Investments
9,230
92,636
**Total**
**140,255**|**10**
**Funds in the previous reporting period**
**Balance**
**Brought forward**
(Funds defined above)
**£**
**Restricted Funds**
Choir Trips Fund
2,744
Celebrity Concerts Baxter Fund
28,070
Piano Maintenance Fund
4,400
Young Musicians' Fund
9,006
44,220
Revaluation (Deficit) Gain Investments
3,398
47,618
**Unrestricted Funds**
Designated:
- Showcase Activities Fund
10,762
- 2021 Fund
15,000
- Hallett Memorial Fund
914
- Choir Staging Fund
38,000
Other Charitable Funds
18,731
83,406
Revaluation (Deficit) Gain Investments
9,230
92,636
**Total**
**140,255**|**Resource**
**incoming**
**£**
0
237
17,162
67,135
84,533
84,533
**84,533**|**Resource**
**outgoing**
**£**
96
350
446
446
607
37,554
28,402
66,563
66,563
**67,009**|**Transfers**
**between**
**funds**
**£**
0
0
(15,000)
(17,608)
32,608
0
**0**|**Revaluation**
**Gain (Loss)**
**£**|**Balance**
**At end**
**£**
2,649
28,070
4,050
9,006| |---|---|---|---|---|---|---| ||44,220
3,398||||(1,465)|43,775
1,933| ||47,618||||(1,465)|45,708| ||10,762
15,000
914
38,000
18,731|||||10,391
0
914
0
90,071| ||83,406
9,230||||(3,656)|101,376
5,574| ||92,636||||(3,656)|106,950| ||**140,255**||||**(5,121)**|**152,658**| The designated 2021 Fund was set up for events associated with the 75th Anniversary celebrations of the Society. These did not take place due to Covid and Fund closed in 2022. The designated Choir Staging Fund was set aside for purchase of the tiered choir staging. After purchase of staging, Fund closed in 2022. ## **11 Transfers between funds** Transfers between unrestricted and restricted funds - Interest from bank accounts £ 0 Transfers of funds between unrestricted funds and designated funds £ 0 **Designated funds** The designated Showcase Activities fund is set aside for the future stability of the Showcase Section. Its current value is: £ 10,707 A designated Hallett memorial Fund was set aside for activities in memory of Geoffrey & Lila Hallett. Its current value is £ 914 ## **12 Designated funds** **13 Trustee remuneration and benefits** Trustees are not paid for their trustee activities and any reimbursments are not material. David Taylor was paid £0 (0 last year) for professional accompanist charges as allowed by Memorandum Clause 5 (1). - **15 Related Party Transactions** None 11 ## **CHESTER MUSIC SOCIETY MANAGEMENT ACCOUNTS** ## **INCOME & EXPENDITURE OVERALL** ## **For the year ended 31 July 2023** |**2023**
**Unrestricted**
**£**
**INCOME**
**Donations and legacies:**
Donations
1,815
Gift aid
6,282
Grants
2,000
Subscriptions (donation element)
28,297
**Charitable activities:**
Sales of concert tickets and programmes
35,573
Educational activities
2,560
**Other trading activities:**
Subscriptions (service element)
4,844
Sponsorship
500
Fund raising income
7,836
**Investments:**
Bank interest
390
**Other**
255
TOTAL INCOME
**90,352**
**EXPENDITURE**
**Raising funds**
3,385
**Charitable activities:**
Artists/accompanists/conductors
37,671
Administration
471
Accountancy fees
720
Bank charges
311
Insurance
782
Adverts/publicity
1,540
Hall hire
28,526
Instruments/music
2,363
Printing programmes/tickets/ticket commission
4,980
Miscellaneous production costs
2,649
Educational activities
2,242
**Other:**
Depreciation
2,512
Other
50
TOTAL EXPENDITURE
**88,201**|**2023**
**Restricted**
**£**
5
**5**
1,560
**1,560**|**2023**
**Total**
**£**
1,815
6,282
2,000
28,297
35,573
2,565
4,844
500
7,836
390
255
**90,357**
3,385
37,671
471
720
311
782
1,540
28,526
2,363
4,980
2,649
3,802
2,512
50
**89,761**|**2022**
**Total**
**£**
14,953
7,067
6,000
17,703
26,569
926
4,233
500
6,545
38| |---|---|---|---| ||||**84,533**| ||||1,676
32,116
449
150
267
562
796
21,375
1,627
3,164
2,304
898
1,574
50| ||||**67,009**| 12 ## **CHESTER MUSIC SOCIETY** ## **INCOME AND EXPENDITURE SUMMARY** For the year ended 31 July 2023 |**2023**
**£**
**Overall summary**
(As per schedules attached)
Relating to:
**Unrestricted**
a
**The Society**
surplus/(deficit)
(1,275)
b
**Celebrity Concerts**
surplus/(deficit)
1,084
c
**Choir**
surplus/(deficit)
2,026
**Choir Trips**
surplus/(deficit)
d
**Showcase**
surplus/(deficit)
316
2,151
Unrealised investment gain (loss)
(1,518)
Transfers between funds
0
**Overall surplus/(deficit) for season**
**633**|**2023**
**£**
**Restricted**
(1,500)
(55)
(1,555)
(750)
0
**(2,305)**|**2023**
**2022**
**£**
**£**
**Total**
**Total**
(2,775)
18,012
1,084
385
2,026
(407)
(55)
(96)
316
(370)
596
17,524
(2,268)
(5,121)
0
0
**(1,672)**
**12,403**| |---|---|---| 13 ## **CHESTER MUSIC SOCIETY** ## **INCOME AND EXPENDITURE ACCOUNT** For the year ended 31 July 2023 |**2023**
**2023**
**£**
**£**
a
**Re: The Society**
**Unrestricted**
**Restricted**
**Income**
Sponsorship/Patrons/Donations
100
Subscriptions
2,363
Gift Aid
510
Grants
Bank interest
390
Bank compensation
250
Projects: Piano income
180
Projects: Chamber Music Workshop
1,405
Projects: Young Musician Competition
1,156
Fund raising income
Miscellaneous
`
**6,353**
**0**
**Expenditure**
Administration, postage, meetings
174
Examination of accounts
720
Insurance
782
Bank charges
311
Advertising & Publicity
495
Training
Projects: Piano expenses
Projects: Chamber Music Workshop
992
Projects: Young Musician Competition
900
1,500
Artists - Bursary
Educational artists
350
Equipment
393
Depreciation
2,512
Fund raising expenditure
Miscellaneous
**7,628**
**1,500**
**Surplus/(deficit)**
**(1,275)**
**(1,500)**
**Restricted Fund values**
Young Musicians Fund
Piano Maintenance Fund
**Designated Fund value**
Hallet Memorial Fund
£
£
Cash assets at Y/E
914
4,050
£
95
Investments & Cash
assets
7,506
Total Unrealised Gains if
investments had been sold at Y/E
296|**2023**
**£**
**Total**
100
2,363
510
390
250
180
1,405
1,156
**6,353**
174
720
782
311
495
992
2,400
350
393
2,512
**9,128**
**(2,775)**
|**2022**
**£**
**Total**
9,308
2,484
2,474
6,000
38
360
926| |---|---|---| |||**21,589**
121
150
562
267
100
802
1,574| |||**3,577**| |||**18,012**| |||| 14 ## **CHESTER MUSIC SOCIETY** ## **INCOME AND EXPENDITURE ACCOUNT** For the year ended 31 July 2023 |**2023**
**£**
b
**Re: Celebrity Concerts**
**Unrestricted**
**Income**
Sale of non-season tickets
3,477
Subscriptions/season tickets
4,544
Programme income
168
Sponsorship/patrons/donations
1,204
Gift Aid
447
Grants
Fund raising income
1,407
Miscellaneous
**11,246**
**Expenditure**
Artists fees & expenses *
7,770
Administration
30
Advertising & publicity
92
Hire of halls
961
Hire & maintenance of instruments
460
Misc inc PRS
129
Printing programmes & tickets
30
Ticket commission
194
Miscellaneous
263
Fund raising expenditure
232
**10,162**
**Surplus/(deficit)**
**1,084**
y|**2023**
**£**
**Restricted**
**0**
**0**
**0**|**2023**
**£**
**Total**
3,477
4,544
168
1,204
447
1,407
**11,246**
7,770
30
92
961
460
129
30
194
263
232
**10,162**
**1,084**|**2022**
**£**
**Total**
510
3,763
113
562
303
1,157| |---|---|---|---| ||||**6,408**
4,400
887
400
175
28
24
109
**6,023**| ||||**385**| * Artist credit £450 due to write off from Y/E 2016 **Restricted Fund value** £ £ Total Unrealised Gains if Investments & Cash investments had been sold at assets at Y/E Y/E Celebrity Concerts Baxter Fund 28,070 793 15 ## **CHESTER MUSIC SOCIETY** ## **INCOME AND EXPENDITURE ACCOUNT** For the year ended 31 July 2023 |**£**
**£**
c
**Re: Choir**
**Income**
Sale of tickets
30,073
Programme income
793
Sponsorship/patrons/donations
1,011
Subscriptions
25,934
Gift Aid
5,326
Grants
2,000
Miscellaneous
5
Members' music hire/purchase
1,868
Fund raising income
3,677
**70,686**
**Expenditure**
Conductors & Accompanist
8,389
Artists fees & expenses
3,770
Orchestral fees & expenses
16,612
Administration
267
Advertising & publicity
936
Hire of halls
12,221
Staging costs
14,934
Lighting
Hire & maintenance of instruments
Music
1,903
Printing programmes & tickets
1,154
Ticket commission
3,588
Miscellaneous inc PRS
1,730
Equipment
Charity donation
50
Members' music hire/purchase
1,471
Fund raising expenditure
1,634
**68,659**
**Surplus/(deficit)**
**2,026**
y
**TRIPS ACCOUNT**
**(RESTRICTED FUNDS)**
Surplus on agency payments
Cost of administration
55
**Surplus/(deficit)**
**(55)**
**2023**|**£**
**£**
25,035
674
5,583
15,690
4,290
0
984
4,044
**56,299**
6,446
8,367
12,503
328
696
9,026
11,462
1,062
926
2,186
2,038
50
50
1,566
**56,706**
**(407)**
96
**(96)**
**2022**|**£**
**£**
25,035
674
5,583
15,690
4,290
0
984
4,044
**56,299**
6,446
8,367
12,503
328
696
9,026
11,462
1,062
926
2,186
2,038
50
50
1,566
**56,706**
**(407)**
96
**(96)**
**2022**| |---|---|---| |||| |||**(407)**| |||96| |||**(96)**| **Restricted Fund value** £ Cash assets at Y/E Senior Choir Trips Fund 2,593 16 ## **CHESTER MUSIC SOCIETY** ## **INCOME AND EXPENDITURE ACCOUNT** For the year ended 31 July 2023 |e
**Re: Showcase**
**Income**
Sale of tickets & programmes
Subscriptions
Refreshments
Sponsorship/Donations
Misc
Fundraising income*
**Expenditure**
Artists fees & expenses
Administration
Advertising & publicity
Printing
Hire of halls
Piano tuning
Refreshments
Miscellaneous, inc equipment & PRS
Fund raising expenditure
**Surplus/(deficit)**|**£**
**£**
1,063
300
71
634
**2,068**
1,130
16
16
410
48
133
**1,752**
**316**
**2023**|**£**
**£**
237
**237**
400
166
41
**607**
**(370)**
**2022**|**£**
**£**
237
**237**
400
166
41
**607**
**(370)**
**2022**| |---|---|---|---| ||||| ||||**(370)**| *Fund raising credit of £634 due to write off of Gala ticket income from Y/E 2020 **Designated Fund value** £ Cash assets at Y/E Showcase Activities Fund 10,707 17