REGISTERED COMPANY NUMBER: 04793062 (England and Wales) REGISTERED CHARITY NUMBER: 1099385
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
FOR
LOST CHORD
LOST CHORD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Statement of Financial Position | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 15 |
| Detailed Statement of Financial Activities | 16 | to | 17 |
LOST CHORD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objective of the charitable company is to improve the well being and self esteem of persons suffering from Alzheimer's and Dementia by the organisation and playing of interactive musical concerts.
The trustees confirm that they have complied with the duty under Section 4 of the Charities Act 2006 by referring to the charity commission's general guidance on public benefit when reviewing the aim and objectives of the charity and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
2020/21 was a year like no other for Lost Chord with Corona Virus impacting on our ability to perform in person at residential homes or to engage in fund raising events.
Donations and grant applications reduced from £161,436 to £150,177. Donations and legacies increased significantly to £101,351 as a result of much generosity from patrons and supporters and this has negated much of the reduction in grants available from £115,965 down to £48,826 during this period. As a result of the pandemic fundraising events ceased and hence there has been no income generation from this source neither has there been the associated expenditures. Lost Chord emerges from the year in a strong financial position to be able to return to provide support where it is needed most.
It has been a very difficult year not only for Lost Chord but for the country and indeed the whole world. We have lived through unprecedented times with this pandemic which has seen all residential homes going into total lockdown and has meant that Lost Chord has had to cease its normal activity since the beginning of 2020. However in an attempt to keep this vital service going the decision was taken to contact all musicians who normally work for Lost Chord visiting residential homes on a regular monthly basis, in order to encourage them to produce regular videos of their performance so that we could upload them onto Youtube where all residential homes could have free access for their residents.
This has proved extremely successful and meant that we could maintain communication with the homes and their residents throughout the whole of the pandemic in an attempt to raise their spirits and in some small way improve their quality of life. What this has also meant is that we were able to pay the musicians for their services thereby maintaining a small portion of their income level.
It has not been easy for anyone during lockdown but we recognise that those residents in care homes surely have suffered the most.
Unfortunately Lost Chord administration and accounts staff left during our inactive period so we are now beginning to recover on a skeleton staff but are determined to rise from the ashes and grow Lost Chord into an even stronger charity in the future. Before lockdown in 2020 we were performing 180 sessions a month which was reduced to nil over the past year, however the scheme is gradually beginning to recover and even though we are at the moment only performing 25 sessions a month, more and more homes are gradually coming back onto the scheme.
All our musicians who are now performing in residential homes again are double vaccinated and taking daily lateral flow tests along with other precautions outlined in our Covid Protocol in line with Government guidelines for Care Homes.
Accounts are being maintained each month by our accountants until such time as a new accounts clerk can be appointed. Therefore Lost Chord will go on because there is an even greater need for its services now that the country is gradually beginning to recover from the pandemic.
Page 1
LOST CHORD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
FINANCIAL REVIEW
Financial position
The accounts for the year to 31 March 2021 show a surplus of £92,196 (2020 £55,648), which leaves reserves in a strong position to support the work of the charity into 2021/22 and beyond.
Investment policy and objectives
Surplus funds are invested on a basis that is considered to be risk free.
Reserves policy
The Charity Commission for England and Wales requires charities to have a policy on the level of reserves held by the charity. This is to ensure that charities spend money on the purposes for which the charity was set up rather than simply accumulating cash. The policy of Lost Chord is to ensure that should funding materially deteriorate, for whatever reason, then it would have time to consider alternative funding options and, in the worst scenario, be able to manage the closure of its operations and obligations in an orderly fashion, both of which combined would take in the order of six months. Such obligations would include staging concerts already committed to, terminating its contractual commitments and the payment of salaries. Lost Chord therefore aims to maintain reserves of at least six months but no more than nine months of annualised operating expenditure.
Funding is applied for on a three year basis which could mean that funds received in year one may not be used until year three so that the charity can periodically accumulate significant funds. However, the grants that are received in advance are treated as deferred income to be utilised for the payment of future expenses.
FUTURE PLANS
The charity plans continuing the activities outlined above for the forthcoming years, subject to satisfactory funding and donations.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is a company limited by guarantee and was incorporated on 10 June 2003. The Memorandum of Association established the objects and powers of the charity and it is governed under its Articles of Association. The Charity was registered as a charity on 11 September 2003. Prior to 10 June 2003 Lost Chord was a project run under the auspices of Voluntary Action Rotherham and has been delivering services since 1999.
The trustees, who are also directors and members of the charity, are recruited by networking and are selected following a skills need analysis by the trustees. Any appointment of a trustee is made by a resolution of the board of trustees and is formally minuted . An induction and training programme is offered to any new trustee.
The trustees retain overall responsibility for the charity's strategies and policies and delegate the operational management to the chief executive. The trustees continue to review corporate governance including contracts, employment policies and management practices to ensure continued compliance.
The charity works independently though seeks to fulfil its objects by working collaboratively with other organisations such as the Alzheimer's Society performing concerts in their day centres across the region. Lost Chord is a member of the National Dementia Action Alliance working alongside member groups such as Age UK; Alzheimer's Society; Dementia UK; Department of Health; Royal College of GP's, Nursing, Physicians and Psychiatrists and the NHS Alliance. Lost Chord works closely with the National Opera Studio in London and its director to audition and appoint musicians onto the scheme as well as with the Royal Welsh College of Music and Drama. Our close association with the Birmingham Conservatoire gives students studying music the opportunity to experience music in a health and social environment.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
As a matter of best practice, the directors are conscious of the need to consider risk management.The charity has initiated standard accounting systems to mitigate financial risk, whilst holding regular meetings involving strategic planning and review to mitigate risk generally.
Page 2
LOST CHORD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04793062 (England and Wales)
Registered Charity number 1099385
Registered office
The Wesley Centre Blyth Road Maltby Rotherham South Yorkshire S66 8JD
Trustees
B W Frith C J MacCormac MBE Chairman E Skelton E F Lye (resigned 18/8/2021) M Venables J Revill
Founder and Chief Executive
H Muller
Company Secretary
E Skelton
Independent Examiner
Stuart Martin Reed FCCA Reed Smith Associates Limited Copia House Great Cliffe Court Great Cliffe Road Barnsley South Yorkshire S75 3SP
Bankers
National Westminster Bank plc 13 Laughton Road Dinnington Sheffield South Yorkshire S25 2HA
Page 3
LOST CHORD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 7 October 2021 and signed on its behalf by:
E Skelton - Secretary
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LOST CHORD
Independent examiner's report to the trustees of Lost Chord ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts 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
-
the accounts 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.
Stuart Martin Reed FCCA Reed Smith Associates Limited Copia House Great Cliffe Court Great Cliffe Road Barnsley South Yorkshire S75 3SP
7 October 2021
Page 5
LOST CHORD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 111,351 Charitable activities Interactive musical concerts 935 Other trading activities 3 - Investment income 4 310 Total 112,596 EXPENDITURE ON Raising funds - Charitable activities Interactive musical concerts 20,400 Total 20,400 NET INCOME 92,196 RECONCILIATION OF FUNDS Total funds brought forward 297,494 TOTAL FUNDS CARRIED FORWARD 389,690 |
Restricted fund £ 38,826 - - - 38,826 - 38,826 38,826 - - - |
31.3.21 Total funds £ 150,177 935 - 310 151,422 - 59,226 59,226 92,196 297,494 389,690 |
31.3.20 Total funds £ 161,436 82,235 65,219 1,023 |
|---|---|---|---|
| 309,913 22,402 231,863 |
|||
| 254,265 | |||
| 55,648 241,846 |
|||
| 297,494 |
The notes form part of these financial statements
Page 6
LOST CHORD
STATEMENT OF FINANCIAL POSITION 31 MARCH 2021
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 9 1,224 CURRENT ASSETS Debtors 10 1,510 Cash at bank 394,720 396,230 CREDITORS Amounts falling due within one year 11 (7,764) NET CURRENT ASSETS 388,466 TOTAL ASSETS LESS CURRENT LIABILITIES 389,690 ACCRUALS AND DEFERRED INCOME 12 - NET ASSETS 389,690 FUNDS 13 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - 10,000 10,000 - 10,000 10,000 (10,000) - |
31.3.21 Total funds £ 1,224 1,510 404,720 406,230 (7,764) 398,466 399,690 (10,000) 389,690 389,690 389,690 |
31.3.20 Total funds £ 1,580 10,762 326,923 337,685 (24,271) 313,414 314,994 (17,500) 297,494 297,494 297,494 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
LOST CHORD
STATEMENT OF FINANCIAL POSITION - continued 31 MARCH 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 7 October 2021 and were signed on its behalf by:
C J MacCormac MBE - Trustee
The notes form part of these financial statements
Page 8
LOST CHORD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Allocation and apportionment of costs
All costs relate to the principal charitable activity of promoting the benefits of persons suffering from Alzheimer's and Dementia by the organisation and playing of interactive musical concerts.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 33% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The company provides for a personal pension scheme on behalf of an employee and also enrolled the other employees into a contributory scheme as from 1 January 2016. Pension costs charged in the financial statements are £3,698 (2020 £3,693), representing the contributions payable by the charity during the year ended 31 March 2021.
continued...
Page 9
LOST CHORD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
| 2. DONATIONS AND LEGACIES Donations and legacies Grants Government grants Grants received, included in the above, are as follows: Garfield Weston Trust Fund May & Stanley Smith Charitable Trust Alex & William de Winton Trust Marjorie Coote Fund The Thomas J Horne Memorial Trust Newby Trust Sisters of Poor Child M and G Registered Charity National Lottery 3. OTHER TRADING ACTIVITIES Fundraising events 4. INVESTMENT INCOME Interest received 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
31.3.21 £ 101,351 38,826 10,000 150,177 31.3.21 £ - 21,349 - - - 7,500 - - 9,977 38,826 31.3.21 £ - 31.3.21 £ 310 31.3.21 £ 584 |
31.3.20 £ 45,471 115,965 - |
|---|---|---|
| 161,436 | ||
| 31.3.20 £ 45,850 39,615 10,000 5,000 6,000 2,500 3,000 4,000 - |
||
| 115,965 | ||
| 31.3.20 £ 65,219 31.3.20 £ 1,023 31.3.20 £ 45 |
continued...
Page 10
LOST CHORD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
8.
| 31.3.21 | 31.3.20 | |||
|---|---|---|---|---|
| Chief executive | 1 | 1 | ||
| Administration and support | 1 | 2 | ||
| 2 | 3 | |||
| No employees received emoluments in excess of £60,000. | ||||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | |||
| Unrestricted | Restricted | Total | ||
| funds | fund | funds | ||
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 45,471 | 115,965 | 161,436 | |
| Charitable activities | ||||
| Interactive musical concerts | 82,235 | - | 82,235 | |
| Other trading activities | 65,219 | - | 65,219 | |
| Investment income | 1,023 | - | 1,023 | |
| Total | 193,948 | 115,965 | 309,913 | |
| EXPENDITURE ON | ||||
| Raising funds | 22,402 | - | 22,402 | |
| Charitable activities | ||||
| Interactive musical concerts | 115,898 | 115,965 | 231,863 | |
| Total | 138,300 | 115,965 | 254,265 | |
| NET INCOME | 55,648 | - | 55,648 | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 241,846 | - | 241,846 |
continued...
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LOST CHORD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - | continued | continued | |
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | fund | funds | |||
| £ | £ | £ | |||
| TOTAL FUNDS CARRIED FORWARD | 297,494 | - | 297,494 | ||
| 9. | TANGIBLE FIXED ASSETS | ||||
| Office | |||||
| equipment | |||||
| £ | |||||
| COST | |||||
| At 1 April 2020 | 4,156 | ||||
| Additions | 228 | ||||
| At 31 March 2021 | 4,384 | ||||
| DEPRECIATION | |||||
| At 1 April 2020 | 2,576 | ||||
| Charge for year | 584 | ||||
| At 31 March 2021 | 3,160 | ||||
| NET BOOK VALUE | |||||
| At 31 March 2021 | 1,224 | ||||
| At 31 March 2020 | 1,580 | ||||
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.3.21 | 31.3.20 | ||||
| £ | £ | ||||
| Charitable activities debtors | 1,081 | 9,494 | |||
| Prepayments and other debtors | 429 | 1,268 | |||
| 1,510 | 10,762 |
continued...
Page 12
LOST CHORD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Charitable activities creditors Other taxation and social security Accruals and deferred income 12. ACCRUALS AND DEFERRED INCOME Deferred grant income 13. MOVEMENT IN FUNDS Unrestricted funds Unrestricted Funds TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds Unrestricted Funds Restricted funds Restricted Funds TOTAL FUNDS Comparatives for movement in funds Unrestricted funds Unrestricted Funds TOTAL FUNDS |
At 1.4.20 £ 297,494 297,494 Incoming resources £ 112,596 38,826 151,422 At 1.4.19 £ 241,846 241,846 |
31.3.21 31.3.20 £ £ 4,566 929 216 - 2,982 23,342 7,764 24,271 31.3.21 31.3.20 £ £ 10,000 17,500 Net movement At in funds 31.3.21 £ £ 92,196 389,690 92,196 389,690 Resources Movement expended in funds £ £ (20,400) 92,196 (38,826) - (59,226) 92,196 Net movement At in funds 31.3.20 £ £ 55,648 297,494 55,648 297,494 |
31.3.20 £ 929 - 23,342 24,271 31.3.20 £ 17,500 At 31.3.21 £ 389,690 |
|---|---|---|---|
| 389,690 | |||
| 92,196 | |||
| At 31.3.20 £ 297,494 |
|||
| 297,494 |
continued...
Page 13
LOST CHORD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds Unrestricted Funds 193,948 Restricted funds Restricted Funds 115,965 TOTAL FUNDS 309,913 A current year 12 months and prior year 12 months combined position is as follows: At 1.4.19 £ Unrestricted funds Unrestricted Funds 241,846 TOTAL FUNDS 241,846 |
Resources Movement expended in funds £ £ (138,300) 55,648 (115,965) - (254,265) 55,648 Net movement At in funds 31.3.21 £ £ 147,844 389,690 147,844 389,690 |
Resources Movement expended in funds £ £ (138,300) 55,648 (115,965) - (254,265) 55,648 Net movement At in funds 31.3.21 £ £ 147,844 389,690 147,844 389,690 |
|---|---|---|
| 55,648 | ||
| At 31.3.21 £ 389,690 |
||
| 389,690 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds Unrestricted Funds Restricted funds Restricted Funds TOTAL FUNDS |
Incoming resources £ 306,544 154,791 461,335 |
Resources Movement expended in funds £ £ (158,700) 147,844 (154,791) - (313,491) 147,844 |
Resources Movement expended in funds £ £ (158,700) 147,844 (154,791) - (313,491) 147,844 |
|---|---|---|---|
| 147,844 |
continued...
Page 14
LOST CHORD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
Page 15
LOST CHORD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| 31.3.21 | 31.3.20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and legacies | 101,351 | 45,471 |
| Grants | 38,826 | 115,965 |
| Government grants | 10,000 | - |
| 150,177 | 161,436 | |
| Other trading activities | ||
| Fundraising events | - | 65,219 |
| Investment income | ||
| Interest received | 310 | 1,023 |
| Charitable activities | ||
| Contributions to concerts | 935 | 82,235 |
| Total incoming resources | 151,422 | 309,913 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Fundraising events expenses | - | 22,402 |
| Charitable activities | ||
| Wages and salaries | 25,529 | 31,317 |
| Pension costs | 3,698 | 3,693 |
| Cost of concerts | 4,291 | 169,989 |
| Telephone, postage, stationery and advertising | 8,567 | 8,372 |
| Travelling expenses | - | 2,478 |
| Bad debts written off | 908 | - |
| Depreciation office equipment | 584 | 45 |
| 43,577 | 215,894 | |
| Support costs | ||
| Management | ||
| Office rent and services | 6,227 | 6,227 |
| Trustees professional indemnity insurance | 721 | 672 |
| Miscellaneous expenses | 2,510 | 3,627 |
| Training costs | 202 | - |
| PR and consultancy fees | 1,950 | 1,950 |
| 11,610 | 12,476 | |
| Finance | ||
| Bank charges | 544 | 1,128 |
This page does not form part of the statutory financial statements
Page 16
LOST CHORD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| 31.3.21 | 31.3.20 | |
|---|---|---|
| £ | £ | |
| Finance | ||
| Governance costs | ||
| Accountancy and legal fees | 3,495 | 2,365 |
| Total resources expended | 59,226 | 254,265 |
| Net income | 92,196 | 55,648 |
This page does not form part of the statutory financial statements
Page 17