4) Charlty Reglstr•tlon N¢x 1121152 CoThpany Registrallon No. 062629981England and Walosl MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020 PAGES FOR FILING WITH REGISTRAR *AA31MSUQ' 2Y04Q021 COMPANIÉS HOUSE A18 MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS LEGAL AND ADMINISTRATIVE INFORMATION Tntstees Mr l A Yec*nan Mrs C G Jeps trs M Jones C￿rIty nUM￿r 1121152 Company number 06262998 Princlpal •ddr•$$ 5 Risebri¢Jge Road Romford Essex Unrted ￿"ngdoM RM2 SPR Rogist•r•d office 5 Risebridge Road Romford Essex United Kingdom RM2 SPR Ind•pondwt examiner Russell IMiillod(Accountarw Ltd John Ec¢les House The Oxford s￿enCe Park Oxford Oxfordshire United Kingdom OX4 4GP MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS CONTENTS Truslees", report Independent exanwnerfs rewt Statement of financial acti￿￿eS Bal*Ke sheet Notes to the financial $latements 6-13 MUSIC ON THE MARCH11952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JULY2020 The trustees present their report and aecounts forthe year ended 31 Juty 2020. The financial ststements have been prep¥ed in aCCordar￿e vAlh Ihe accounting poltues set cyjt in note 1 to the finanaal statements and coMp￿Y with the Charity's Igoveming documentl, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to thwitses preparing their accounts in accordance ￿th the Finanual Repo￿n9 Stsn¢Jard applicable in the UK and Republic of Ireland IFRS 102) leffeth.ve 1 janu￿ 2019)". Obj•ctiv•s and aetiviti•s The charity's objects are to advance the mu5rAI educab.on of children aThJ young people. aged 10 year5 and upwards in the London Borough of Havering and the surroundiThJ area. The trustees have paid due regard to guidance issued by the Charity Commission in deciding vthat activities the charity $houl*J undertake. Achlevoments and p¢rfom)ance During the period, the charity has perfomed reguw With its rrwlrtwy style marching band at events and competiti'ons to raise awareness of its objectives. Financial review The trustees Consider the charitys finances to be adequate to discharge its objectives and activth'es for the year ahead. It is the policy of the charity that Un￿strICted ftwKls wthi¢h have not been deS￿nated fw a $pe¢ifi¢ use should be maintained at a levd at least equivalent to bets%Een three and six month's expenditrjre. The trustees considers that reserves at this level will ensure tha{ in the event of a sgnth¢ant ¢Jrop in fijnding, they wll be abl& lo conb.nue the ¢h8rity'S current actiwb.es while considerats.on is given to ways in *thich additional funds may be raised. This level of reserve5 has been maintsined throughout the year. The trustees have assessed the major risks to vthich the charty is exwsed. and are satisfied that systems are in plaee to mitigate exposure to the major risks. The charity plans to ￿￿tinue rt$ obieth"ve$ in fulure period5. struc￿rn. gov•rnanc• and management The charity is a company limrted by guarantee. It is go¥emed by a Merr￿ndUM and articles of association. The trustees, who are also the directors for the purybose of conyny Law, and seThed during the year Mr IA Yeoman Mrs C G Jepson Mrs M Jones New tru$tee$ a￿ 8Fwnted by agreement ofthe exisb.ng trustees as and vthen required ty rf a suitsbly interested and experienced indwidual presents thèrr￿e1¥es to the trustees. Newtrustees are given introductory training an¢J induction rf required. None of the trustees has any benefi¢i81 interest in Ihe company. AM of the trustees a￿ members of the company and guarantee to contri￿te £1 in the event of a winding up. MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUED) FOR THE YEAR ENDED 31 JULY2020 The chan.ty org8nisth.onal structure comwse5 8 group of trusted volunteers, who are lead by the trustees. The report has teen wepared having taken advarrtage of the small comparies exemptitsn in Ihe Companies Act 2008. On behalf of the board of trustees Mrn C G Jep50n Trustee MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MUSIC ON THE MARCH11952) LIMITED I report to the trustees on my examination of Ihe finanaal staternents of k•Jsic on the March (1952} Limited (the charity) for the year ended 31 Juty 2020. R&sponsibil•ties and basls of rnport As the trustees of the chanty land also its directors for the purposes of company lawl you are responsib for the preparation of the finanual statements in accordance with the requirements of the Companies Act 2006 (the 20C6 Acti Having satisfied m￿elf that the financial st*ement$ of Ihe chty are not req￿￿ed to be auth'te(S under Part 16 of the 2006 Acl an¢J are eligible for independent examinakn"on, l in ￿SpeCt of my examination of the charity's finanual statemenis Carried oui under se¢tion 145 of the Ch8ribe$ Ad 2011 (the 2011 Act). In carrying Out my examination I have foll0v￿d all the applicable Oireclions given by the Charity Commission undec se¢ts'on 145(51{bl of the 2011 A¢t. Ind•pendant oxaminer's statem•nt I have completed my examinab"on. I confKm that no matters have come to my attentiLW in connectim wth the examination giving me cause to believe that in any material respect.. a¢¢ounting re￿r￿S were not kept in resrect of the d)anty as required by se¢tion 386 of the 20(6 Ad.. or the financial 5tstemenls do not xcord wlh Ih05e records". or the financial statements do not compty ￿ the accounb.ng requirements of Sec1K￿ 396 of the 2006 Act other than any ￿QuireMent that the accounts give a tnje and fair view which is not a matter considered as part of an independent examinab"on: the financial ststements have not been wepartd ￿ accordartt vAth the nthods and prineiple$ of the Stslement of Recommended Practice for accounb.ng and reporting by charilies applicable to tharities prepartrvJ their accounts in accordance with the FInar￿al Reporting Standard applicable in the UK and Rèpubli¢ of I￿18￿j {FRS 1021. I have no ¢on¢effls arHI have come a¢ross no other matters in Connection with the eXam¥￿ts0n to whith attention should be drawn in this report in order to enable a Proper understanding of the finanaal ststements to be reached. Russell ￿￿10¢kAccoUntanCY Ltd John Eccles House The Oxford Science Park Oxford Oxfordshire OX4 4GP United Kingdom Dated. ....M.I*I&Ok_i MUSIC ON THE MARCH (19521 LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2020 Unrestri¢t•d Un￿StriCted funds fvnds 2020 2019 Donabons and legacies Charitable activities Other trading acliwties Inve5trnents Other income 20.724 6.635 7,195 60 2,291 2,293 35.092 12.615 Total income 36,905 50.036 Raising funds 12,658 23,218 Charitable ¥ctivitE5 72,006 11,807 Total rnsources expended 24.664 35,025 Met income for thg y•arl M•t movemènt In funds 12,241 1S,011 Fund balances al 1 August 2019 97,178 82,167 Fund balan¢es •t 31 July 2020 109.419 97,178 The stslemenl of finanaal acbirilies indudes all gains and b$ses re¢>)gnised the year. JI income and expenditure derive from conts'nuirg activities. The statement of financial a¢knvbbes also comph"e$ 7Mth the rewirements fty an income and eypendilure account undef the Companieskt 2006. MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS BALANCE SHEET ASAT31 JULY2020 2020 2019 Flxgd assets Tangible assets Current assets Cash 8t bank ansj in hand 13 144,818 138,758 30,349 38.254 Creditors: amounts falling du• ￿1th1n onè year 14 {5.404) (11,8341 Net current assets 24.945 26.420 Totsl 4ss*ts less Current liatiililies 169.763 165.178 Creditors: amounts falling duo aft•r moro than ong year 15 (60.344) (68.000) Not assets 109,419 97,178 In¢ome fundy un￿striCted fvnd$ 109,419 97.178 109.419 97.178 The eompany is entitled to the exemption from Ihe audit requirement ¢ontained in secb.ort 477 of the Companie$ Ad 2006, for the year ende¢J 31 July 2020. The di￿¢101$ a¢knovAedge ther responylylitses for ensuring that Ihe charity keeps accounting ￿Cor¢35 which comFly 5eth.on 386 ot the Act and for preparing finanoal st*ements ￿1¢h give a true and fair Mew of the stale of affairs of the company as at the end of Ihe finanu¥l year and of its in¢oming resources and applicats'on of resources. including its income and expendrture, for the ffinancial year in accordance with the requirements of se¢b"on$ 394 and 395 and vthith otherw5e comFty wlh Ihe reqU1￿ments of the Companies Act 20[￿ relaling to financial statements, so far as apF4icat4e to the company. The members have not requi￿ the CpJmpany to obtsin an audit of its fwwcral statements for the year in question in accordance v￿h sectton 476. These ffinanoal ststemenls have been prepa￿ in accordance *fjth the proMgon$ to ￿MPanieS subject to the small companie5 regime. The financial statements were approved by the Trustees on ......................... Mrs C G Jepson Tw$tse Mr5 M Jone$ Tntst•* Company R•gl$tr•tion No. 06262998 MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2020 A¢countbng polklas Charity information Music on the March11952} LirFWted rs 8 private company limited by guarantee incorporated in England and Wales. The registered office is 5 Risebridge Road, Romford. Essex. RM2 SPR. Unrted Kingdom. The harity operates from premise$ * 54 Westem Road, Romford. RM13LP. 1.1 Accountlng convenllon The finanoal ststements have been prepare(l in acCorda￿e th the ch￿S tgoveming documentl, the Companies Act 2006 and "Accounb"ng and Rewjrting by Chanb"es.' Statement of Recommended Pr8¢tice applicable to charib.es preparing their aecounts in accordance wth the Finanty81 Reporting Standard applicab￿ in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019}-. The chanty is a Putlic 8enefit Entity as *Jefined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial ststements are prepared in sterfing, vknch ts the funclional cuffenq of the tharity. Monetsry amounts in these ffiAan¢ial statements are rounded to the ne¥￿$t £. The financiai ststemenls have been ￿epared thè histori¢al cost convenkn"on. The principal a¢¢ounting policies adopted are set Out bel¢>w. 1.2 Going concem At the time of approving the ffinancial statements, the trustees hove a reasonable expectation that the Chartty has adequate ie50urces to ¢onts"nLre in operab.onal existence for the foreseeable fvlure. Thu5 the trustees conts.nue to adopt the going concern basi5 of accounting in preparing the financial staternents. 1.3 Charitable fvnds Unrestricted funds are a¥￿￿￿le for use ai the dis¢retK>n of the trustees in furtherance of their charitable objeth'ves. Restn"¢ted funds are subject to specific conditions by don0￿ as to how they may be used. The purposes and vse5 of the restricted fijnds are set out in Ihe notes to the financial slatements. EndovKnent fund$ are wbje¢l to specific condttion$ by don￿5 that the capital must be maintsined by the Chanty. 1A Incom• Income is recognised when the chanty is legalty entilled to it after any rwfwrnan￿ Conditions have been met. the amount$ Can be nEasured reliabty. and it 1$ probable thal income will be receive(l. Cash donations are recognised on rerapt. Other donalions are recoanised once the tharity has beer notified of the donation, unless perfomiance Cond￿￿$ requ1￿ deferral of the amount. In¢ome tax recoverabl& in relation to dwations re¢eived under Gift AJ"d or deeds of covenant rs re¢ognised at the time of re¢wpt. Legaaes a￿ ￿ognised on receipt or othemse rf the d)8rity has been noffied of an impending istrib￿lOn, the amount is known. and rec￿p1 is exFeCted. If the amount is not kno￿. the legacy 1$ treated as a contingent asset. MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2020 Ac¢ounting policies (Contlnugdl Grants are recognised at the fair walue of the asset received or receivable when there is reawable assurance that the grant ￿11 be met and the grants WKII be received. Grants relating to tumover are recogni$ed as in￿rne over the periods the related costs are incurred. Grants relating to an assèt are ￿¢09n1$e￿ in income systemab"cally over the assefs expected usefvl lrfe. If part of such a grant is deferred it is recognised as ¢Jeferred inccyne rather than being dedu¢led from the asset's carrying amount. 1.5 Expenditure Basic finanual liabilities. indudirrfj (¥edrtofs and bank loans are initially re￿nised at transaction price unless Ihe arrangement ￿nStrtute5 a financing transa¢b"on. where the debt instrument is measured at the present value of the ftrture payments discounted at • market rate of interest. Finanual liats"lities classified as payable wthin year are nol aM0￿.Sed. Debt instruments are subsequentty carried at amortised ¢os( using the effectwe ￿terest r*e method. Trade credrtors are obligations to pay for goods or seNces that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classthed as current liabilibes if payment is due wthin one year or less. If not, they are P￿sente{l a5 non-current liabilib"e$. Trade ¢reditors are ￿COgnised initially at transacty.on price and subsequenlty measured at ¥m￿lSea wst U)e effective interest method. 1.6 Tangible fixed assets Tangible fixed assels a￿ inthally measured al cost and subsequenty n￿u￿d at cost or Valuabon, nel ol depreciation and any impaiment losses. Depreciation is recognised $0 a5 to vmte off the cost or v*uatK)n of assets ￿$3 iheir resldu81 values over their usefijl lives on the following bases". Leasehdd imwovements Plant and machinery Fixiu¥es, fitting5 & equipment 12 years straight Ine 10% reduting balance basis 25% reducing balance basis The gain or loss arisiThJ on the dtsposal of an asset is detemiined as the drflerence bets￿n the $ale proceeds and the ¢arrying value ofthe a$set. and is recognised in nel in¢M)ellexpendiiurel for the year. Depreo*ion of imwovements to leasehold premises should be deprKoted over the $horter ol the lease tem or the usefvl economi¢ ITfe of the asset. The current lease is due to ex￿￿ during the financial ye ended 2023. The trustees have a reasonable expectab'on that the lease will be renewed, and based on the information available would estimate that the renewal ¥*￿j1d extend the tem at least ten yeats. Theref to prevent misstatement of the depreryation charge and grant in¢ome received in the penod, and the net book value of the asset at the. balance sheet date, the trustees have ap￿led a term including an antiapated lease renewal of ten years when calculating dep￿ciall0n of improvements lo leasehold premises. Should the lease tem eventualy differ from this. the fw)anc481 $￿ements will be adjusted accordingly. 1.7 Impalrn)ent of assets At each reporting end date. the charity revie￿ the ca￿￿1ng amounts of its tangible assets to detemiine vthether there is any indication that those assets have suffered an impaimenl loss. If any such indication exists, the recoverable amount of the a55et is estimated in order to determine the extent of the impaimient loss (If any). MUSIC ON THE MARCH11952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2020 Accounting polici•s (C¢)ntinuedl 1.8 Cash and cash equivalents Cash and cash equivalents indude ¢ash in hand. deposits hehj.at Call v￿h banks. other short-term liquid investments with original matunb"e$ of three months or less. and bar* overdrafts. Bank overdrafts are shown wthin borrowngs in ￿rrent liabilrties. Basic financlal assets Basic finanoal asset$, which inc￿¢ debtors and cash and bank balances. are inrtially measured at transath.on price induding transacts.on ¢osts and are $ubsequentty ¢arrie¢l at amortised cost using the effects.ve interest method unless the arrangement ¢onstrtutes a finan¢in9 transaction, where the transa¢tion is measured at the present value of the future receipts discounted at a mar1(et rate of interest. Financial assets classified as receivable ￿thin one year are not amorb"sed. Basie financial liabilities Basic financial liabilits"es. including txedrtots and bank loans are inibally recognised al transaction price unless the arrangement conslrtutes a financing transacbon. Whe￿ the ¢Jebl instnJment 15 measured at the present value of the fvture payrnents discounted at a market rale of interest. Finanual liabilrtie$ ¢la55ified as payable %wthin one year are not arfiortised. Debt ￿￿truments are subsewentty wied at aW￿rtiSed ¢ost. using the eff8¢tive interest rate method. Trade crethlors are obligations lo pay for gotras or seryices that have been a¢quire¢l in the ordinary Course of operations from 5upplier5. Amunts payable are classified as c￿￿ent liabilits.es if payment is due wthin one year or less. If not, they are presented as non￿jrTent li¥bL"lrttes. Trade creditors are recognised inits'ajty at transaction price and subsequentty measured at amortised Cost using the effectwe interest rrethod. Deyecognition of Ilnanelal liabilhies Ftnan¢ial liabilities are derecogni$ed ththen the charity'$ ¢￿tr￿tUal oblKJatK)ns ex￿re or are discharyed or Cancelled. Critical accounting estirnates and judgements In Ihe applicatson of the charity'$ acwiting poliaes. the trustees are required to make judgements, e$timales and a$$umpts"ons about the ¢arrying amount of assets and liaL•ilib"es that are not readily apparent from other sources. The ests"males and asso¢iated assumpb.ons a￿ based on historical experien¢e and other factors that are considered lo be relevant Actual resulis may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoirYJ ba%s. Revi%ons lo accounting estimates are ￿¢OgniSed in the penod in vknich the esb"m*e is ￿￿Sed bbl)ere the revision affects only that period, or in the period of the reNi5ion and future periods where the rewsion ¥ffe¢ts bclth current and fijture periods. MUSIC ON THE MARCH11952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2020 Donations and lega¢ios Unrestrlcted Unrestricted fund5 funds 2020 2019 Don8lion$ and gffts Grants received 8,472 12,252 2,293 20,724 2,293 Grants received indude £10.000 from the London Borough of Havering as CovKJ-19 support measures. Charltabl• a¢tl¥ltOos Grants Grants receivable receivable 2020 2019 Sales within chantsble acts'vities 6,635 35,092 Othèr tradlng aetlvltles Unrestricted Unrestricted funds fvnds 2020 2019 Membership subscriptions and sponsorships 7ththich a￿ in substance a payment for goods and seNces FundTaisin9 events 1035 5.160 3.659 8,956 Other trading actiwbe$ 7.195 12.615 MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020 Investm8nls Unrestslcted Un￿striCted funds nds 2020 2019 Interest receivable 60 Oth•r Income Unrestiictad funds Total 2020 2019 Other income 2,291 Ralslng lunds Unrestricted Unrestricted fund$ fvnds 2020 2019 F ndraisin Staging fundraising events Depreciation and impaTh￿nt Support costs 1.787 3,934 6.937 15,206 2,547 5,465 Fundraising and put4icity 12.658 23,218 12.658 23,218 10- MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2020 Charltable actlvltles Tutor eogts Tutor costs 2020 2019 Depreuation and impalm￿t Musical tuitson and meetings 3,933 2,261 2.547 4.029 6,194 6,576 sha￿ ofsi4)port ￿$ts (see note 101 5,812 5,231 12.006 11,807 10 Support eosts 2020 Support Goveman costs 2019 ¢osts Premises expenses Insurance Office and administration Finan¢e ¢o$ts Other support costs 5.894 3.031 3.21)0 5.894 3.031 3.200 5,584 3,143 1.506 15 448 3.143 1,506 15 448 624 624 12,749 12.749 10.696 10.696 Analysed bets￿n Fundraising Chantable acbwbes 6.937 5.812 6.937 5.812 5,465 5.231 5,465 5,231 12.749 12.749 10.696 10.696 11 Tru$tws Noné of the trustees (or any person¥ connected ¥*ilh them) received any reTh￿neratiOn or reimbjrsed expenses during the ye¥. 11 MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2020 12 Employees The average mnthly nun**r ofemployees duriThJ Ihe yearwas.. 2020 Numbgr 2019 Number Total 13 Tanglble fixed as￿$ Plant and FlxtLWPS. Tot•1 4gulpmenl Cost At 1 August 2019 Additions 84.095 13,160 136.287 766 10.911 231,293 13,926 At 31 Juty 2020 97.255 137,053 10.911 245.219 Oepreclatlon and impairment At 1 August 2019 Deprecialion Charged in the year 82,570 4.410 9,965 236 92.535 7,866 3,220 At 31 July 2020 3.220 86.980 10.201 100,401 Carrying amount At 31 Juty 2020 94.035 50.073 710 144.818 At31 Juty2019 84.095 53.717 138.758 14 Creditors". amounts falling due within one year 2020. 2019 Deferred income Trade creth.tors 16 11.834 5,404 11.834 Trade ￿ditorS compfise a￿￿u￿15 invoiced duriro the period but settled after the period in connection wth leasehold improvement woths. 12- MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2020 15 Credltors: amounts falllng due aftw mor• than on• year 2020 2019 Deferred inv)me 16 68,0(KJ 16 Deferred income 2020 2019 ising from C•tal grant 65.748 68,000 Deferred income is induded in the finanLial slatements as foU¢JAF: 2020 2019 Current liabilities Non