2024-07-31-accounts - Music On The March (1952) Limited

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Charity registration number 1121152

Company registration number 06262998 (England and Wales)

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 2024

MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr I A Yeoman Mrs C G Jepson Mrs M Jones

Charity number

1121152

Company number

06262998

Principal address

5 Risebridge Road Romford Essex United Kingdom RM2 5PR

Registered office

5 Risebridge Road Romford Essex United Kingdom RM2 5PR

Independent examiner

Russell Whitlock Accountancy Ltd John Eccles House Robert Robinson Avenue Oxford Oxfordshire United Kingdom OX4 4GP

MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS CONTENTS

	Page
Trustees' report	1 - 2
Independent examiner's report	3
Statement of financial activities	4
Balance sheet	6 - 7
Notes to the financial statements	8 - 18

MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 JULY 2024

The trustees present their report and accounts for the year ended 31 July 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The charity's objects are to advance the musical education of children and young people, aged 10 years and upwards in the London Borough of Havering and the surrounding area.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

During the period, the charity has performed with its military style marching band.

Activities have returned to a normal level now that the premises have been refurbished following the previously reported arson attack.

The instruments and other assets lost in the fire have been fully replaced.

Financial review

Following the previously reported fire at the premises, the band hall has been refurbished and the instruments and uniforms lost in the fire have been replaced.

This has allowed the band to practice in the hall, hold concerts or run charitable events. The band has also been able to attend more performances in the period. As such the band has increased capacity to generate funds, and the income levels have returning to historic trends.

The trustees consider the charity's finances to be adequate to discharge its objectives and activities for the year ahead.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level at least equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Major risks

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee. It is governed by a memorandum and articles of association.

MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

The trustees, who are also the directors for the purpose of company law, and who served during the year were: Mr I A Yeoman

Mrs C G Jepson

Mrs M Jones

Recruitment and appointment of trustees

New trustees are appointed by agreement of the existing trustees as and when required or if a suitably interested and experienced individual presents themselves to the trustees. New trustees are given introductory training and induction if required.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisational structure

The charity organisational structure comprises a group of trusted volunteers, who are lead by the trustees.

The report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.

On behalf of the board of trustees

Mrs C G Jepson

Trustee

23 April 2025

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 MARCH (1952) LIMITED

I report to the trustees on my examination of the financial statements of Music on the March (1952) Limited (the charity) for the year ended 31 July 2024.

Responsibilities and basis of report

As the trustees of the charity (and also 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 (the 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 all the applicable 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 that in any material respect:

1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2 the financial statements do not accord with those records; or
3 the financial statements 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
4 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 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 financial statements to be reached.

Russell Whitlock Accountancy Ltd

John Eccles House Robert Robinson Avenue Oxford Oxfordshire OX4 4GP United Kingdom

Dated: 24 April 2025

MUSIC ON THE MARCH (1952) 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 2024

Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income and endowments from: Donations and legacies 2 3,545 20,000 Charitable activities 3 27,953 - Other trading activities 4 2,109 - Investments 5 1,417 - Other income 6 - - Total income 35,024 20,000 Expenditure on: Raising funds 7 51,912 - Charitable activities 8 23,188 - Total expenditure 75,100 - Net income/(expenditure) and movement in funds (40,076) 20,000 Reconciliation of funds: Fund balances at 1 August 2023 225,896 - Fund balances at 31 July 2024 185,820 20,000	Total Unrestricted funds 2024 2023 £ £ 23,545 34,851 27,953 26,338 2,109 1,766 1,417 678 - 98,641 55,024 162,274 51,912 34,289 23,188 21,633 75,100 55,922 (20,076) 106,352 225,896 119,544 205,820 225,896	Total Unrestricted funds 2024 2023 £ £ 23,545 34,851 27,953 26,338 2,109 1,766 1,417 678 - 98,641 55,024 162,274 51,912 34,289 23,188 21,633 75,100 55,922 (20,076) 106,352 225,896 119,544 205,820 225,896
		162,274
		34,289 21,633
		55,922
		106,352 119,544
		225,896

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 8 to 18 form part of these financial statements.

MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS SUMMARY INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2024

All income funds 2024 £ Gross income 55,024 Total expenditure from income funds 75,100 Net (expenditure)/income for the year (20,076)	2023 £ 162,274 55,922
	106,352

MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS BALANCE SHEET

AS AT 31 JULY 2024

Notes Fixed assets Tangible assets 15 Current assets Debtors 16 Cash at bank and in hand Creditors: amounts falling due within one year 17 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 18 Net assets excluding pension liability Net assets The funds of the charity Restricted income funds 20 Unrestricted funds	2024 £ 10,611 64,773 75,384 (4,242)	£ 181,730 71,142 252,872 (47,052) 205,820 205,820 20,000 185,820 205,820	2023 £ - 93,209 93,209 (7,684)	£ 184,503 85,525 270,028 (44,132) 225,896 225,896 - 225,896 225,896

The notes on pages 8 to 18 form part of these financial statements.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

MUSIC ON THE MARCH (1952) LIMITED THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS BALANCE SHEET (CONTINUED)

AS AT 31 JULY 2024

The financial statements were approved by the trustees on 23 April 2025

Mrs C G Jepson Mrs M Jones Trustee Trustee

Company registration number 06262998 (England and Wales)

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 JULY 2024

1 Accounting policies

Charity information

Music on the March (1952) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 5 Risebridge Road, Romford, Essex, RM2 5PR, United Kingdom. The charity operates from premises at 54 Western Road, Romford, RM1 3LP.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined 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 statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of receipt.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is 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 JULY 2024

1 Accounting policies

(Continued)

Grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

Insurance proceeds as a result of the fire at the premises were recognised as income to replace fixed assets when the assets were acquired and credited against revenue expenditure when the expenditure was incurred. This process is now completed.

1.5 Expenditure

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 15 years straight line Plant and machinery 5-10% reducing balance basis Fixtures, fittings & equipment 25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

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 2024

1 Accounting policies

(Continued)

Improvements to leasehold premises should be depreciated over the shorter of the lease term or the useful economic life of the asset. The lease expired during the financial year ended 2023. The trustees previously had a reasonable expectation that the lease will be renewed and extended by 10 years. Therefore to prevent misstatement of the depreciation charge and grant income received in the period, and the net book value of the asset at the balance sheet date, the trustees previously applied this extension period when calculating depreciation of improvements to leasehold premises.

The lease has now formally been renewed and extended by 15 years from the previous expiry date. The amortisation of the improvements to leasehold has been recalculated based on the new term and adjusted in the year so that the carried forward value of the leasehold improvements is correct. The resulting difference was allocated to the annual amortisation charge.

A similar adjustment was made to the associated deferred income, as a grant was received towards the improvements to the leasehold. The difference was allocated to Grants received.

This adjustment is considered to be a change to a method of calculation rather than a change to accounting policy and therefore does not require a prior year adjustment to the financial statements.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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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 2024

1 Accounting policies

(Continued)

Basic financial liabilities

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Income from donations and legacies

Unrestricted Restricted funds funds 2024 2024 £ £ Donations and gifts 4,928 - Grants received (1,383) - Less: deferred income - 20,000 3,545 20,000	Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 4,928 29,447 - (1,383) 5,404 - 20,000 - - 23,545 34,851 -	Total 2023 £ 29,447 5,404 -
		34,851

3 Income from charitable activities

	Performances	Performances
	and events	and events
	2024	2023
	£	£
Performing and events	27,953	26,338
Analysis by fund
Unrestricted funds	27,953	26,338

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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 2024

4 Income from other trading activities

		Unrestricted	Unrestricted
		funds	funds
		2024	2023
		£	£
	Membership subscriptions and sponsorships which are in substance a payment
	for goods and services	2,109	1,766
5	Income from investments
		Unrestricted	Unrestricted
		funds	funds
		2024	2023
		£	£
	Interest receivable	1,417	678
6	Other income
		Unrestricted	Unrestricted
		funds	funds
		2024	2023
		£	£
	Insurance proceeds	-	98,641

The insurance proceeds reported in the Statement of Financial Activities were for replacing fixed assets lost in the fire.

7 Expenditure on raising funds

	Unrestricted	Unrestricted
	funds	funds
	2024	2023
	£	£
Fundraising and publicity
Staging fundraising events	33,128	12,747
Advertising	5,646	-
Depreciation and impairment	5,096	10,326
Support costs	8,042	11,216
	51,912	34,289

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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 2024

8 Expenditure on charitable activities

		Rehersals,	Rehersals,
		Tuition and	Tuition and
		band meetings	band meetings
		2024	2023
		£	£
	Direct costs
	Depreciation and impairment	5,096	10,326
	Musical tuition and meetings	3,269	1,747
		8,365	12,073
	Grant funding of activities (see note 9)	7,000	-
	Share of support and governance costs (see note 10)
	Support	7,823	9,560
		23,188	21,633
	Analysis by fund
	Unrestricted funds	23,188	21,633
9	Grants payable
			Rehersals,
			Tuition and
			band
			meetings
			2024
			£
	Grants to individuals		7,000

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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 2024

10 Support costs allocated to activities

Rent, rates and utilities Insurance Printing and stationery Bank and currency charges Trophies and awards Premises repairs Analysed between: Fundraising Rehersals, Tuition and band meetings 11 Net movement in funds The net movement in funds is stated after charging/(crediting): Depreciation of owned tangible fixed assets	2024 £ 6,239 4,195 4,403 117 911 - 15,865 8,042 7,823 15,865 2024 £ 10,192	2023 £ 5,622 5,527 4,682 503 644 3,798
		20,776
		11,216 9,560
		20,776
		2023 £ 20,652

12 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year. Out of pocket expenses for costs relating to band events and activities reimbursed to trustees amounted to £Nil.

13 Employees

The average monthly number of employees during the year was:

	2024	2023
	Number	Number
Total	-	-

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

14 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

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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 2024

15 Tangible fixed assets Leasehold improvements Plant and machinery Fixtures, fittings & equipment £ £ £ Cost At 1 August 2023 98,113 185,492 11,291 Additions - 4,861 2,556 At 31 July 2024 98,113 190,353 13,847 Depreciation and impairment At 1 August 2023 26,618 80,585 3,188 Depreciation charged in the year (1,990) 9,517 2,665 At 31 July 2024 24,628 90,102 5,853 Carrying amount At 31 July 2024 73,485 100,251 7,994 At 31 July 2023 71,495 104,907 8,101	Total £ 294,896 7,417
	302,313
	110,391 10,192
	120,583
	181,730
	184,503

The depreciation on leasehold improvements was estimated in line with an anticipated lease extension of 10 years. The lease has now been extended for 15 years and the depreciation has been recalculated to reflect this new term. The difference has been allocated to the annual charge and as such the charge is negative as the previous estimation was higher.

16 Debtors

Debtors
	2024	2023
Amounts falling due within one year:	£	£
Prepayments and accrued income	10,611	-

The prepayments of £10,611 at 31 July 2022 represents a deposit paid towards roof repairs which are to be completed in the next period. These repairs are supported by a grant that has also been deferred until they are completed.

17 Creditors: amounts falling due within one year

Notes Deferred income 19 Other creditors Accruals and deferred income	2024 £ 3,867 - 375 4,242	2023 £ 5,404 2,280 -
		7,684

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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 2024

18 Creditors: amounts falling due after more than one year Notes Deferred income 19 19 Deferred income Arising from Capital grant Deferred income is included in the financial statements as follows: Deferred income is included within: Current liabilities Non-current liabilities Movements in the year: Deferred income at 1 August 2023 Released from previous periods Deferred income at 31 July 2024	2024 £ 47,052 2024 £ 50,919 2024 £ 3,867 47,052 50,919 49,536 1,383 50,919	2023 £ 44,132 2023 £ 49,536 2023 £ 5,404 44,132 49,536 54,940 (5,404) 49,536

Deferred income includes capital grants for improvements to leasehold premises.

The deferred income is being released in line with the depreciation of the improvements to leasehold premises. As noted in the accounting policies and fixed assets note, the lease has been extended and the previous estimated release of the deferred income relating to improvements to the leasehold property has been recalculated to match the new term. As this is longer than anticipated, the previous release of deferred income was too high and the adjustment results in a negative value for 31 July 2024.

20 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

	August	Incoming	31 July
	2023	resources	2024
	£	£	£
Roof repairs	-	20,000	20,000

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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 2024

20 Restricted funds

(Continued)

A Grant received from the Given Wilson Foundation is restricted to the purpose of roof repainting and repairs. The work was completed shortly after the year end.

21 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

	At 1 August	Incoming	Resources	At 31 July
	2023	resources	expended	2024
	£	£	£	£
General funds	225,896	35,024	(75,100)	185,820
Previous year:	At 1 August	Incoming	Resources	At 31 July
	2022	resources	expended	2023
	£	£	£	£
General funds	119,544	162,274	(55,922)	225,896
Analysis of net assets between funds
		Unrestricted	Restricted	Total
		funds	funds
		2024	2024	2024
		£	£	£
At 31 July 2024:
Tangible assets		181,730	-	181,730
Current assets/(liabilities)		51,142	20,000	71,142
Long term liabilities		(47,052)	-	(47,052)
		185,820	20,000	205,820
		Unrestricted	Restricted	Total
		funds	funds
		2023	2023	2023
		£	£	£
At 31 July 2023:
Tangible assets		184,503	-	184,503
Current assets/(liabilities)		85,525	-	85,525
Long term liabilities		(44,132)	-	(44,132)
		225,896	-	225,896

22 Analysis of net assets between funds

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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 2024

23 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year Between two and five years In over five years	2024 £ 2,625 10,500 21,438 34,563	2023 £ - - -
		-

24 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

18 -