Registered number: 05861490 Charity number. 1116233 THE IPSWICH HOSPITAL BAND LIMITED (A Company Llmlted by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) CONTENTS Pages Reference and Administrative Details of the Companyi its Trustees and Advisers Trustees, Report Independent Examiner's Report ststement of Financial Activities Balance Sheet 9-10 Notes to the Financial Statements
THE IPSWICH HOSPITAL BAND LIMITED IA Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2024 Trustees Andrew Mayhew, Chair Maggie Porter, Vice Chair Sarah Purbrook Joy Williams, Band Secretary Katherine Budgen, Treasurer Sian Webster-Hirst (resigned 11 January 2024) Am8nda Mayhew Sara Hills (resigned 11 January 2024> Corinne Rousham Barbara Sampaio (resigned 20 October 2024) Rosalyn Burrow Robert Goodridge (appointed 13 May 2024) Company registered number 05861490 Charity registered number 1116233 Registered offlce St Peterfs By the Waterfront St Peter's Church College Street Ipswich Suffolk IP418F Company secretary Julia Norman Independent examiner Scrutton Bland Limited Chartered Accountants Fitzroy House Crown Street Ipswich Suffolk IP13LG Bankers Lloyds Bank PIC 13 Cornhill Ipswich Suffolk IP1 1DG Solicitors Kerseys Solicitors LLP 32 Lloyds Avenue Ipswich Suffolk IP13HD Page 1
THE IPSWICH HOSPITAL BAND LIMITED IA Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENOED 31 OCTOBER 2024 The Trustees present their Annual Report together with the financial statements of the The Ipswich Hospital Band {the "Charity" or the "Charitable Company") for the year ended 31 October 2024. The Annual Report serves the purposes of both a Trustees, Report and a Directors, Report under company law. The Trustees confirm that the Annual Report and financial statements of the Charitable Company comply with the current ststutory requirements, the requirements of the Charitable Company's goveming document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Charitable Company qLsalifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors. Report) Regulations 2013 has been omitted. Objectives and activities • Policios and objective$ To adv8nce the education of the public in Ipswich and the surrounding area in music; To achieve this three separate bands exist. The Ipswich Hospital Band, St. Peter's Band to enhance the musical education of the more experienced players in the organisation, together with a Street Band, Saints Community Band, to provide an ensemble largely for less experienced players. To promote the benefit of the inhabitants of Ipswich and the surrounding area by the provision of facilities in the interest of social welfare for recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants by puth'ng on such performances as the band think appropriate; and For such charitable purposes as the band shall from time to time determine. To meet its objectives the band performs a wide range of concerts and events at affordable prices and accessible venues, both in St Peter's and elsewhere. In April 2008 the St Peter's Centre was opened for public use. As a result St Peter's is now open regularly as Heritage Centre for the enjoyment and education of all people in Ipswich and the surrounding area. The Centre is also available as a music performance and rehearsal venue for interested groups based on cost recovery. In setting objectives and planning for activities. the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity (P82)', Page 2
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Objectives and activities (continued) • Activities undertaken to xhieve objectives The Trustees have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the public benefii guidance published by the Charity Commission. Since Aprll 2008, when the Charity took over occupation of the renovated St Peter's Centre following the successful conclusion of the project funded by the Heritage Lottery Fund, the centre has been open to the public on a regular basis as a Heritage Centre. In addition to regular rehearsal opportunities, a number of public rnusical events have been staged in St Peter'8, both by the Bands and other groups and organisations. The Charity was active in performing a varied series of events to publicise its work and raise fvnds for St Peter's and other charities. There are now three bands undertaking outside performance, the Ipswich Hospital Band, St Peter's 8and and Saints Community Band. The Saints Community Band provides musical education and opportunities for advancement in ensemble playing from novices through to more experienced players. Achievements and perfommnce • Review of activities The Statement of Financial Activities showE our net outgoing resources of £633 for the year (2023 - net outgoing resources of £11,793). During the year charitable donations amounting to £5,656 were made to SSAFA (£329), St Helena Hospice (£544), Cancer Campaign in Suffolk (£3,840) and Colchester & Ipswich Hospitals Charity (£943). Investment policy and performance Under the Memorandum and Articles of Association, the Charity has the power to invest in any way that the Trustees consider appropriate. The Trustees, having regard to the liquidity requirements of operating the Charity and to the resepies policy, have followed a policy of keeping funds in interest bearing deposit accounts, In an attempt to achieve a rate ol deposit interest vthich mitigates the effect of inflation. Financial review Going concem After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existen¢e for the foreseeable luture, being a period of at least 12 months from the date of approval of the financial statements. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further detsils regarding the adoption of the going concern basi5 can be found in the accounting policies. Page 3
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 • Reseryes policy Restricted reserves - are those where fvnds have been donated to the Charity for specific purposes, and can only be allocated to costs attributed to the relevant project. Designated reserves - are those where fvnds have been set aside by the Charitys Trustees for fvture planning, and for projects that the board deem appropriate, General reserves - are reserves held by the Charity for general day to day running, and it is the policy of the Charity to maintain unrestricted free reserves at such a level as the trustees Consider necessary to maintain and to provide reasonable lunds against any unforeseen costs that may arise. At the end of the year the free reserves, represented by the total unrestricted fvnds less fixed assets, amounted to £63,341 (2023 - £66,808). • Financial risk management oty"•ctives and pollcies The Trustees have a risk management strategy which comprises an ongoing review of the risks the Charity may face,. the establishment of systems and procedures to mitigate those Tisks identified., and the implementation of procedures designed to minimise any potents'al impact on the Charity should those risks materialise. A key element in the management of financial risk is the setting of a reserves policy and its regular review by the Trustees. Structurei govemance and management Con$litulion The Ipswich Hosprtal Band Limited is registered as a Charitable Company limited by guarantee and was set up by a Memorandum ofAssociation on 21 August 2006. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees 0 are elected and Co-opted under the terms of the Trust deed. Organlsational structure and decisionwmaking policies The Board meets six times a year on average, and there are sub-committees covering the running ofthe Bands and of St Peter's by the Waterfront which meet vthen necessary. Page 4
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Plans for future periods This financial year has been another busy year for the Bands, ensembles and the venue St Peter's by the Waterfront, with the groups taking on engagements throughout the year at various events and the venue hosting numerous events. The Bands Continued wth their range of outdoor concerts at various fetes and shovts, which they are engaged in annually as well as holding concerts at St Peter's, raising money for local and national charities, through ticket proceeds and raffles. The ensembles also performed at events, including a lunchtime concert, care homes and performing to the participants at a half marathon. In August the Bands undertook a tour of Holland, playing concerts throughout the country, includlng the Kerk de Bron Church in Amsterdam, down by the seaside at Noorthiijk and finally in front of the Old Town Hall in Delft. The tour involved members from all 3 bands and was conducted by Lawrence lQ'llian. Lawrence Killian stepped dovm as the musical director for the Ipswich Hospital Band after the trip to Holland, but after a short interview process, the band was pleased to appoint Mike Waters as the new musical director in October. August saw the introduction of a new band to the organisation, the Rallentandos. which takes place on a Wednesday morning and offeTS a more relaxed atmosphere for members to socialise and enjoy making music. St Peter's by the Waterfront has continued to be very busy, with Concerts, rehearsals and private bookings being made through the year. St Peter's has been very fortunate to host Candlelight concerts by the international company Fever, with over 40 performances by string quartet and piano throughout the year, most sold out. These have been very successful and have helped to boost the visibility of the venue and are a good income stream. The Heritsge Centre, open Tuesday to Thursday beeen May and September had around 849 people vlslt to view the various heritage displays and the Ipswich Charter Hangings. This was a drop on the previous year of around 6°/0, this is likely due to the inclement weather seen throughout the summer. The next financial year promises to be equally as busy for both the bands and venue, with many engagements already in the diary for the bands and the start of planning for the bands, 50th anniversary in 2026. The venue continues to receive many bookings and is fully booked to the end of the 2024 and most of the first half of 2025. Approved by order of the members of the Board of Trustees on their behalf by: 13-03- ZOL and signed on Andrew Mayhew Chair Page 5
THE IPSWICH HOSPITAL BAND LIMITED (A Company Llmited by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 Independent Examiner's Report to the Trustees of The Ipswich Hospital Band Limited ('the Charity.) I report to the Charity's Trustees on my examinats'on of the financial statements of the Charity for the year ended 31 October 2024. This report is made solely to the Charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in this report and for no other purpose. To the fvjllest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work, for this report, or for the opinions I have formed. Responsibilities and Basis of Report As the Trustees of the Charity (and its Directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 {Yhe 2006 Act,). Having satisfied myself that the financial statements of the Charity 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 the Charity's financial statements 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. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently l express no opinion as to whether the financial statements present 'true and fair, view and my report is limited to those specific matters set out in the Independent Examiner's Statement. Independent Examinerfs 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 Charity as required by section 386 of the 2006 Act,. or the financial ststements do not accord those records; or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair. view whi¢h is not a matter considered as part of an independent examination., or 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 wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Page 6
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 I have no concems and have come across no other matters in connects'on with the examination to vthich attention should be dravm in this report in order to enable a proper understanding of the financial statements to be reached. Signed: Dated,. 9Aprfl 2025 John Perry FCA Scrutton Bland Limited Chartered Accountants Fitzroy House Crown Street Ipswich Suffolk IP1 3LG Page 7
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024 Unrestrlcted funds 2024 Restricted funds 2024 Total funds 2024 Total nds 2023 Notes Income from: Donab'ons and legacies Charitable activities 26,022 68,838 22.016 1,867 2,963 28,985 68,838 22,016 1,857 22,294 36,698 13,554 424 Other trading activities Investments Total income 118,733 2,963 121,696 72,970 Expenditure on: Raising funds Charitsble activities 38,004 79,190 38,004 84,325 9,077 75,644 6,136 Total expenditure 117,194 6,135 122,329 84,721 Net incomel(expenditure) Transfers belween funds 1,539 5,670 (2,172) (5,670) (633) (11,751) Net movement in funds 7,209 17,842 (633 (11,751) Reconciliation of funds.. Total funds brought forward Net movement in funds 101.874 7,209 21,333 (7,842) 123,207 (633) 134,958 (11.751) Total funds carried fonNard 109,083 13,491 122,574 123,207 The Statement of Financial Activities includes all gains and losses recognised in the Current and prior years. The notes on pages 11 to 29 form part of these financial statements. Page 8
THE IPSWICH HOSPITAL BAND LIMITED IA Company Limited by Guarantee) REGISTERED NUMBER. 05861490 BALANCE SHEET AS AT 31 OCTOBER 2024 2024 2023 Noles Fixed assets Tangible assets Investments 13 14 62,839 53,677 62,841 53,679 Currnnt assets Stocks Debtors 15 16 17 1,611 13.885 40,189 40,302 5,756 41,805 49.943 Investments Cash at bank and in hand 98,908 95,987 Creditors: amounts falling due withln one year 18 (29,1751 (26,459) Net current assets Total assets less current liabilities being net assets 69,733 69,528 122,574 123,207 Charity funds Restricted funds Unrestricted fvnds 19 19 13,491 109,083 21,333 101,874 Totsl funds 122,674 123,207 Page 9
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guaranteel BALANCE SHEET {CONTINUED) AS AT 31 OCTOBER 2024 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying th the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provislons applicable to entities subject to the small companies regime. The financial ststements were approved and authorised for issue by the Trustees on and signed on their behalf by.. Andrew Mayhew (Chair of Trustees) Page 10
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 General information The Ipswich Hospital Band (the "Charity") is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 21st August 2006. Accounting policies 2.1 Basis of preparation of financial statements The financial statements 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 a¢counts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Ipswich Hospital Band Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The Company's functional and presentational currency is GBP. 2.2 Going concern The financial statements have been prepared on the going concern basis. The Trustees Consider that the Charity wll be able to continue to operate and meet its liabilities as they fall due for the foreseeable future, being a period of at least 12 months from the date of approval of these financial statements. 2.3 Income All income is recognised once the Charty has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time ofthe donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Donated services or facilities, which comprise donated services, are included in income at valuation which is an estimate of Ihe financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost bome by a third party. Page11
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting policies Icontinuedl 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Expenditure on raising funds includes all expenditure incurred by the Charity to raise fvnds for its charitable purposes and includes Costs of all fvndraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which fijrther the Charity's objectives, as well as any associated support costs. All expendllure is inclusive of irrecoverable VAT. 2.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity. this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Taxation The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a Charitable Company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 2.7 Tangible fixed assets and depreciation Tangible fixed assets costing £300 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Ail costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following bases.. Fixtures and fitttngs Office equipment Instruments and equipment 5 . 100kn Straight line 25 % Straight line 5 . 1 OOA Straight line Page 12
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting policies (continued) 2.8 Investrnent The investment in its subsidiary undertaking is ststed at cost less provision for impairment. 2.9 Stocks Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolele and slow moving items. Items donated for resale or distribution are not included in the financial Statements until they are sold or dlstributed. 2.10 Debtors Trade and other debtors are recognised at the recoverable amount. 2.11 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.12 Current asset investments Current asset investments mature between 90 days and 12 months from the date of acquisition and that are readily convertible to knovm amounts of cash with insignificant risk of change in value. 2.13 Liabilitie$ and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in setdement, and the amount of the sethement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate ofthe amounts required to settle the obligation. Where the effect ofthe time value of money is material, the provision is based on the present value ofthose amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liabilty. The unwinding ofthe discount is recognised in the Statement of Financial Activities as a finance cost. 2.14 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their setuement value wtth the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.16 Group financial statements These financial statements have not been consolidated viith the results of the Charity's wholly owned subsidiary St Peter's by the Waterfront Limited as the subsidiary is dormant. Page 13
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting policies Icontinued) 2.16 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Donations Donations 1,228 7,535 13,488 3,771 1,228 7,535 13,488 3,771 1,651 6,211 11,086 3,346 Christmas Carol Collections Subscriptions Gift Aid Receivable Grants Hobson Charity Grant 2,963 2,963 Subtotal 26,022 2,963 28,985 22,294 26,022 2,963 28,985 22,294 Total 2023 22,254 40 22,294 Page 14
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Income from charitable activities Unrestricted funds 2024 Total funds 2024 Total fijnds 2023 Income from charitable activities - Bands Income from charitable activities - St Peterfs by the Waterfront 34,356 34,356 7,391 34,482 34,482 29,307 68,838 68,838 36,698 Total 2023 36,698 36,698 Page 15
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Income from other trading activities Income from fundraising eVts Unrestricted funds 2024 Total funds 2024 Total fvnds 2023 Sale of refreshmenls & instrument sundries St Peter's Merchandise Other Sale of equipment 21,414 257 345 21,414 257 345 12,292 305 867 90 22,016 22,016 13,554 Total 2023 13,554 13,554 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Interest receivable 1,857 1,857 424 Total 2023 424 424 Page 16
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Expenditure on raising funds Costs of raising voluntary income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Drinks & instrument sundries Fundraising costs St Peter's merchandise Cost of St Peter's events Tour supplier payments Library Sundry and Maintenance Cost of Band tour 7,767 698 339 2,750 464 217 7,767 698 339 2,750 464 5,309 604 115 1,789 217 24.435 1,102 232 24,435 1,102 232 Other voluntary income cost - St Peter's Website Hosting 1,020 240 38,004 38,004 9,077 Total 2023 9,077 9,077 Page 17
THE IPSWICH HOSPITAL BAND LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Analysis of expenditure on charitable activities Summary by fund type Unrestricted Restricted fund$ funds 2024 2024 Total 2024 Total 2023 Bands St Peterfs by the Waterfront 41,407 37,783 290 4,845 41,697 42,628 35,316 40,328 Total 2024 79,190 5,135 84,325 75,644 Total 2023 70,820 4,824 75,644 Summary by expenditure type Staff costs Depreciation Other costs 2024 2024 2024 Total 2024 Total 2023 Bands St Peter's by the Waterfront 890 538 10,280 40,269 28,100 41,697 42,628 35,316 40,328 4,248 5,138 10,818 68,369 84,326 75,644 Totsl 2023 4,732 10,085 60,827 75,644 Page 18
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Bands St Peter's by the Waterfront 41,697 42,058 41,697 42,628 35,316 40,328 570 83,755 570 84,325 75,644 Total 2023 75,644 75,644 Page 19
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Analysis of expenditure by activities Icontinued) Analysis of direct costs St Peterf$ bythe Bands Walerfront 2024 2024 Total funds 2024 Total funds 2023 Staff costs Depreciation Musical Director's remuneration Insurance Music & library Instrument repairs & maintenance Equipment repairs & maintenance Engagement & rehearsal expenses Uniform Donations Subscriptions Postage & ststionery Photocopier rental & maintenance Telephone Heat & light Rent 4,248 10,280 4,248 10,818 6,611 3,136 298 441 3,945 10,085 5,821 2,575 100 756 538 6,611 1,293 298 100 1,843 341 2.151 2,151 12,340 3,881 5,656 593 165 2,133 822 9,203 4,773 1,131 1,215 4,859 3,766 12,402 764 5,666 475 209 1,397 728 9,391 4,771 536 1,076 4,470 140 12,340 3,881 5,656 556 68 1,936 37 97 197 822 9,203 4,773 1,131 1,215 4,859 113 748 Rates Refijse Cleaning & security Computer expenses Loss on disposal of fixed assets Governance Costs (Note 10) 748 8.420 8,420 6,571 Total 2024 41,697 42,058 83.755 75,644 Total 2023 35,316 40,328 75,644 Included within direct costs is restricted expenditure of £5,135. £4,347 (2023.. £4,824) relates to depreciation, £748 (2023.. £Nil) relates to loss on disposal of fixed assets and £40 (2023.. £Nil) relates to donations. Page 20
THE IPSWICH HOSPITAL BAND LIMITED IA Company Limited by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 10. Governance costs Unrestricted funds 2024 Total funds 2024 Total nds 2023 Independent examiner's fees Other accountancy fees Premises licence Other administrative costs Bank charges Bookkeeperfs wages 2,612 2,623 180 800 1,315 890 2,612 2,623 2,376 2,587 201 800 33 587 787 1,315 890 8,420 8,420 6,571 11. Staff costs 2024 2023 Wages and salaries 5,138 4,732 The average number of persons employed by the Charity during the year was as follows.. 2024 No. 2023 St Peter's by the Waterfront Governan No employee received remuneration amounting to more than £60,000 in either year. Page 21
THE IPSWICH HOSPITAL BAND LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 12. Trustees. remuneration and expenses The Trustees are considered to be key management personnel. During the year, Trustees received remuneration of £4.432 (2023: £3.945) for their qualifw-ng services to the Charity. During the year, expenses of £1,079 were reimbursed to Trustees where they have used personal funds for Charity purchases and £578 was paid to Trustees durin9 the year for their services. 13. Tangible fixed assets Instruments and equipment Fixtures and fittings Total Cost At 1 November 2023 Additions Disposals 150,110 10,703 15,026) 31,008 299 181,118 11,002 (6,026) At 31 October 2024 166,787 31,307 187,094 Depreciation At 1 November 2023 104,669 8,701 {4,003) 22,872 2,116 127,441 10,817 14,003) Charge for the year On disposals At 31 October 2024 109,267 24,988 134,255 Net book value At 31 October 2024 46,520 6,319 52,839 At 31 October 2023 45,541 8,136 53,677 Page 22
THE IPSWICH HOSPITAL BAND LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 14. Fixed asset investments Investments in subsidiary undertaking Cost or valuation At l November 2023 At 31 October 2024 Principal subsidiary As at 31 October 2024 the following was a subsidiary undertaking ofthe Charity.. Name Registered office Principal activity Class of shares Holding st Peterfs By The Waterfront Limited St Peter's by the Waterfront, Dormant st Peter's Church, College Street, Ipswich IP4 1 BF Ordinary 100% 15. Stocks 2024 2023 Finished goods and goods for resale 1,404 1,611 Page 23
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 16. Debtors 2024 2023 Due within one year Trade debtors Other debtors Prepayments and accrued income 1,737 151 3,868 3,286 26 10,573 5,756 13,885 17. Current asset investments 2024 2023 Cash held on deposit 41,806 40,189 18. Creditors: Amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals and deferred income 2,565 1,907 24,703 2,550 1,312 22,597 29,176 26,459 Page 24
THE IPSWICH HOSPITAL BAND LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 19. Statement of funds ststement of funds - current year Balance at 1 November 2023 Balance at Transfers 31 October inlout 2024 Income Expenditure Unrestricted funds Designated funds Equipment replacement fund St Peter's by the Waterfront Other fixed assets 8,000 20,199 40,325 8,000 33,332 39,346 62,066 148,933) 16,183) 5,204 68,524 62,066 (65,1161 5,204 80,678 General funds Band 33,350 66,667 162,078) 28,406 Total Unrestricted funds 101,874 118,733 (117,194 5,670 109,083 Restricted funds St Peter's project Other 21,293 2,963 15,095) 140) (5,670) 13,491 21,333 2,963 15,1351 15,670) 13,491 Total of funds 123,207 121,696 1122.329) 122,574 Page 25
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 19. Statement of funds (continued) Statement of fvnds - prior year Balance at 1 November 2022 Balance at 31 October 2023 Income Expenditure Unrestricted funds Designated funds Equipment replacement fund St Peter's by the Waterfront Other fixed assets 8,000 25,154 40,325 8,000 20,199 40,325 43,847 {48,802) 73,479 43,847 (48,802) 68,524 General funds Band 35,362 29,083 (31,095) 33,350 Total Unrnslricted funds 108,841 72,930 (79,897) 101,874 Restricted funds St Peter's project other 26,117 (4.824) 21,293 40 40 26,117 40 (4,824> 21,333 Total of funds 134,958 72,970 (84,721) 123,207 Page 26
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 19. ststement of funds (continued) Designated Funds Equipment replacement fvnd These are funds set aside by the Board of Trustees for the replacement of instruments, equipment including unlform, and when feasible new instruments. st Peter's by the Waterfront This represents the ongoing running of the Centre since the completion of the refurbishment project as noted under restricted funds. The intention of the Board is to carry these forward in the designated reserve and use the investment income to help towards the running Costs of the centre. The funds also form an emergency fund for the Centre should the need arise during the duration of the lease, with the agreement ofthe Board. other fixed assets This fvnd represents the assets acquired by the Charity including higher value musical instruments and equipment, less depreciation to date. General Fund$ These are funds held by the band for its day to day running expenses. Restricted Funds St Peters pmject This project related to the conversion of the redundant church of St Peter's by the Waterfront into concert and rehearsal venue and heritage Centre, completed in May 2008, and any residual funds held are now shown in the St Peter's by the Waterfront designated fund. Funds were received to date by way of donalions, grants, and other fundraising acts'vits'es to meet our obligations under the match funding requirements for the Heritage Lottery Funding ofthe project. The costs of the building refurbishment were written off as and when incurred. The removable fixtures and fittings have been capitalised, and depreciated in accordance wilh the depreciation policy for the assets Concerned. The balance remainlng in this fund represents the net book value of assets acquired during the running of the project other funds These are funds donated to the band that were passed on to health related charitles during the year. Transfers from restricted funds to designated funds arise where grants are given to purchase fixed assets or the restricted conditions have been made. Page 27
THE IPSWICH HOSPITAL BAND LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 20. Summary of funds Summary of funds - current year Balance at 1 November 2023 Balance at Transfers 31 October Inlout 2024 Income Expenditure Designated funds General funds 68,524 33,350 21,333 62,066 56,667 2,963 (55,116) {62,078) 15,135) 5,204 466 {5,670) 80,678 28,405 13,491 Restricted funds 123,207 121,696 1122,329) 122,574 Summary of funds - prior year Balance at 1 November 2022 Balance at 31 October 2023 Income Expenditure Designated lund8 General funds 73,479 35,362 26,117 43,847 29,083 40 <48,802) {31 ,095) (4,824) 68,524 33,350 21,333 Restricted funds 134,958 72,970 (84,721) 123,207 21. Analysis of net assets between funds Analysis of net assets between funds - current period Unreslricted Restricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Cuent assets Creditors due within one year 39,348 13,491 52,839 98,908 (29.175) 98,908 (29,176) Total 109,083 13,491 122,574 Page 28
THE IPSWICH HOSPITAL BAND LIMITED {A Company Lirnited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 21. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior period Unrestricted nds 2023 Restricted funds 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 34,815 18,862 53.677 93,516 {26,459) 2,471 95,987 (26,459) Total 101,874 21,333 123,207 22. Operating lease commitments At 31 October 2024 the Charity had commitments to make fvture minimum lease payments under non- cancellable operating leases as follows: 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 4,773 19,092 35,403 4,773 19,094 40,176 59,268 64,043 Page 29