**ONESOUND TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020** **CHARITY NUMBER: 1121823** ## **OneSound** ## **CHARITY INFORMATION** |TRUSTEES|A Andrews| |---|---| ||T J Boxall| ||I Dyer| ||S Adkins| ||R Ishola| ||P Amos| ||T Fox| ||R Lawson| ||S Smith| ||E Cade| ||W Collins| ||M Sykes| |**SECRETARY**|B J Brooks MBE| |**CHARITY NUMBER**|1121823| |**REGISTERED OFFICE**|Castle Cavendish| ||Dorking Road| ||Nottingham| ||NG7 5PN| |**ACCOUNTANTS**|LMAC Limited| ||Accountants and Business Advisers| ||Flat 6, 13-14 Kings Gardens| ||Hove BN3 2PG| ## **OneSound** ## **CONTENTS** ||**Page**| |---|---| |**Trustees annual report**|**1 - 2**| |**Accountants’ report**|**3**| |**Statement of fnancial information**|**4**| |**Balance Sheet**|**5**| |**Notes to the fnancial statements**|**6 - 10**| ## **OneSound** ## **TRUSTEES ANNUAL REPORT For the Year to 31 August 2020** The Trustees of the charity present their report and the financial statements for the year ended 31st August 2020. ## **OBJECTIVES** The objectives of the Charity are to: - promote the Christian faith for the benefit of the public through music and creative arts. - advance the education of the public in the understanding, appreciation and development of music. - promote the arts by developing music and other creative arts to a standard of excellence amongst young people. We have referred to the public benefit guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our objectives and in planning our future activities. The aims (objects) of OneSound are undertaken specifically to ensure the charitable objects meet the public benefit requirement and the Charities Act 2011. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Trustees who held office during the year were as follows: |A Andrews||P Amos| |---|---|---| ||T J Boxall|T Fox| |I Dyer||R Lawson| |S Adkins||S Smith| |E Cade||W Collins| |R Ishola||M J Sykes| At every subsequent annual general meeting of the members of the CIO, one-third of the charity trustees shall retire from office. If the number of charity trustees is not three or a multiple of three, then the number nearest to on-third shall retire from office, but if there is only one charity trustee, he or she shall retire; All other charity trustees are eligible for re-election OneSound converted to Charitable Incorporated Organisation (CIO) on 20 June 2019. ## **TRUSTEE RECRUITMENT AND SELECTION** At every annual general meeting of the members of the CIO, one-third of the charity trustees shall retire from office. If the number of charity trustees is not three or a multiple of three, then the number nearest to one-third shall retire from office, but if there is only one charity trustee, he or she shall retire. The charity trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment. If any trustees were last appointed or reappointed on the same day, those to retire shall (unless they otherwise agree among themselves) be determined by lot. Page 1 The vacancies so arising may be filled by the decision of the members at the annual general meeting; any vacancies not filled at the annual general meeting may be filled as per the constitution. ## **FINANCIAL REVIEW** The Statement of Financial Activities is set out on page four. The Charity recorded a net income of £8,829 in the year ended 31 August 2020 (2019: net loss of £1,659). The total funds held by the Charity at 31 August 2020 were £15,943, which include no restricted funds carried forward. A breakdown is shown within note 13 to the financial statements. The Trustees consider the reserves held are adequate to enable the Charity to fulfil its obligations. ## **OneSound** ## **TRUSTEES ANNUAL REPORT For the Year to 31 August 2020** ## **TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS** The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with charity legislation. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In accordance with charity legislation, as the charitable company trustees, we certify that: - so far as we are aware, there is no relevant information of which our accountants are unaware; and - as the trustees of the charity have taken all the steps that we ought to have taken as directors in order to make ourselves aware of any relevant information and to establish that our accountants are aware of that information. This report was approved by the Board on 09 August 2021 and signed on its behalf by: B J Brooks MBE (Company Secretary) Castle Cavendish Dorking Road Nottingham NG7 5PN Page 2 Page 3 ## **OneSound** ## **ACCOUNTANTS’ REPORT TO THE BOARD OF TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF OneSound** ## **Independent examiner’s report to the trustees of OneSound** I report to the trustees on my examination of the accounts of OneSound CIO for the year ended 31 August 2020. ## **Responsibilities and basis of report** As the charity trustees of OneSound you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. ## **LMAC Limited** Accountants and Business Advisers Flat 6, 13-14 Kings Gardens Hove BN3 2PG Page 4 Date.. Page S ## **OneSound** ## **STATEMENT OF FINANCIAL ACTIVITIES For the Year ended 31 August 2020** |**Note**
**s**
**Unrestrict**
**ed**
**Restricted**|**Note**
**s**
**Unrestrict**
**ed**
**Restricted**|**Note**
**s**
**Unrestrict**
**ed**
**Restricted**|**Note**
**s**
**Unrestrict**
**ed**
**Restricted**|**Note**
**s**
**Unrestrict**
**ed**
**Restricted**|**2020**||**2019**| |---|---|---|---|---|---|---|---| |**£**||||**£**|**£**||**£**| |**INCOMING**
**RESOURCES**|||||||| |**Income from charitable activities:**|||||||| |Voluntary income
2||10,528
||19,974|30,502||21,230| |Activities for
generating funds|||||||| |Fundraising
events
2||4,193||-|4,193||5,675| |**Investment income**|||||||| |Bank interest
3||37||-|37||84| ||___|_______________|___|_______________|__________________|___|_______________| |**Total incoming**
**resources**||14,758||19,974|34,732||26,989| |||__________________||__________________|__________________||__________________| |**Expenditure**|||||||| |**Expenditure on**
**charitable activities:**|||||||| |**Fundraising**
**trading**|||||||| |Fundraising
events||2,570||-|2,570||3,510| |**Charitable activities**
6||2,172||19,974
|22,146||23,779| |**Governance**
6||1,187||-|1,187||1,359| |||_________________||__________________|__________________||__________________| |**Total Expenditure**
4||(5,929)|(19,974)
(25,903)|||(28,648)|| |||__________________||__________________|__________________||__________________| |Net income/(expenditure) and
net movement in funds for the
year||8,829|||8,829||(1,659)| |Total funds brought
forward||7,114||-|7,114||8,773| |||__________________||__________________|__________________||__________________| |**Total funds carried**
**forward**||15,943||-|15,943||7,114| |…….|||||||| The statement of financial activities includes all gains and losses recognised in 2020 and 2019. All incoming resources and resources expended derive from continuing activities. The accompanying notes on pages 6 to 10 form an integral part of these financial statement. Page 6 ## **OneSound** ## **BALANCE SHEET As at 31 August 2020** ||**Not**|**2020**||**2019**|| |---|---|---|---|---|---| ||**e**||||| |||**£**|**£**|**£**|**£**| |**CURRENT ASSETS**|||||| |Debtor
s|9|||5,880|| |Cash at bank and in hand||25,802||11,729|| |Stock|10|100||100|| |||__________________||__________________|| |||25,902||17,709|| |**CREDITORS:**|||||| |Creditors: amounts falling due
within one year|11|(9,959)
__________________||(10,595)
__________________|| |**NET CURRENT ASSETS**|||15,943
__________________||7,114
__________________| |**TOTAL ASSETS LESS**|||||| |**CURRENT**|||||| |**LIABILITIES**|||15,943||7,114| ||||__________________||__________________| |**FUND**|||||| |**S**|||||| |Unrestricted funds|12||15,943||7,114| |Restricted funds|12||-||-| ||||__________________||__________________| ||13||15,943
__________________||7,114
__________________| The financial statements were approved by the board on 09 August 2021 and signed on its behalf. Trustee OneSound The notes on pages 6 to 10 form part of these accounts Page 7 ## **OneSound** **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 August 2020** ## **1. ACCOUNTING POLICIES** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## CIO information The OneSound CIO was registered as a charitable incorporated organisation after converting from a registered company limited by guarantee on 20 June 2019. It is governed by a constitution dated 20 June 2019 as amended on 12 September 2019 and registered with the Charity Commission under charity number 1121823. The charity’s principal office address is Castle Cavendish, Dorking Road, Nottingham NG7 5PN. ## **Basis of accounting** The financial statements have been prepared under in accordance with the 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 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015. . OneSound 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 note(s). ## **Cash Flow Statement** The trustees have taken advantage of the exemption in the Charities SORP (FRS102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) from including a cash flow statement in the financial statements on the grounds that the charity is small. ## **Grants** Revenue grants are credited to the income and expenditure accounts when receivable. ## **Other incoming resources** All other incoming resources are recognised when received and when the trustees are virtually certain they will be received. ## **Restricted funds** Restricted funds are subject to specific conditions by donors 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. ## **Unrestricted funds** 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. ## **Taxation** As a registered charity the entity is generally exempt from income tax and capital gains tax, but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates. ## **Resources expended** Page 8 Resources expended are included in the Statement of Financial Activities on an accruals basis and are recognised when there is a legal or constructive obligation to pay for expenditure. All resources expended are directly allocated to the particular activity to which they relate. ## **Governance** Governance costs are those costs incurred by the charity in meeting its statutory obligations. ## **OneSound NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2020** |**2.**|**Income from charitable**
**activities**||||| |---|---|---|---|---|---| |||**Unrestricte**|||| |||**d**|**Restricted**|**2020**|**2019**| |||**£**|**£**|**£**|**£**| ||Subscriptions|1,354|-|1,354|2,158| ||Donations|4,306|-|4,306|3,784| ||Gift Aid|4,868|-|4,868|-| ||Grant|-|19,974|19,974|15,288| ||Event income|4,193|-|4,193|4,930| ||Sale of CD’s /uniform||-||745| |||__________________|__________________|__________________|__________________| |||14,721|19,974|34,695|26,905| |||__________________|__________________|__________________|__________________| ## **3. Investment income** Investment income of £37 (2019: £84) arises from money held in an interest-bearing deposit account. |**4.**
**Analysis of expenditure on**
**charitable activities**|**4.**
**Analysis of expenditure on**
**charitable activities**|**4.**
**Analysis of expenditure on**
**charitable activities**||| |---|---|---|---|---| |**Unrestricte**
**d**
**Restricted**|||**2020**|**2019**| ||**£**|**£**|**£**|**£**| |Event costs|2,570|-|2,570|2,279| |Sale of CD’s/ uniform|-|-|-|1,231| |Governance costs (Note 6)|1,187|-|1,187|1,359| |General support costs (Note 6)|2,172|19,974|22,146|23,779| |||||| ||__________________
5,929|__________________
19,974|__________________
25,903|__________________
28,648| ||__________________|__________________|__________________|__________________| Page 9 Page 10 ## **OneSound** ## **NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2020** ## **5. Summary analysis of expenditure and related income for charitable activities** All sources of income and expenditure went directly to support the music events undertaken by the organisation |events undertaken by the organisation|events undertaken by the organisation|events undertaken by the organisation|events undertaken by the organisation| |---|---|---|---| |**2020**
**2020**
**2020**|||| |**Fundraising events**
**Income**
**Expenditu**
**re**
**Net Surplus**|||| |3 Generate|2,338
(1,138)||1,200| |Nottingham|1,855
(1,432)||423| ||||| ||||| ||__________________
__________________
4,193
(2,570)||__________________
1,623| |Gift Aid|4,868
-||4,868| |Voluntary income|5,660
-||5,660| |Grant|19,974
-||19,974| |Investment income|37
-||37| |General support costs|-
(22,146)
(22,146)||| |Governance costs|-|(1,187)|(1,187)| ||__________________|__________________|__________________| |Net income from reserves|34,732
(25,903)||8,829| ||__________________|__________________|__________________| ## **6. Analysis of Governance and general support costs** All expenditure on governance and general costs went directly to support the music events undertaken by the organisation ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |**General support costs**||| |Contractor costs - Unrestricted|-|6,840| |Contractor costs – Restricted|19,974|15,288| |Other|2,172|1,651| |||| ||__________________
22,146|__________________
23,779| |||| |**Governance costs**|__________________|__________________| |Travel to meetings|338|345| |Insurance|530|522| |Accountancy|250|250| |Sundry|-|60| |Marketing|69|182| |||| ||__________________
1,187|__________________
1,359| ||__________________|__________________| Page 11 ## **OneSound** ## **NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2020** ## **7. Trustee remuneration and expenses** None of the trustees (or any persons connected with them) received any remuneration during the year. 3 trustees were reimbursed for directly incurred expenses totalling £338. ## **8. Corporation tax** OneSound is a registered charity and is therefore exempt from taxation of income and gains falling within Section 505 Taxes Act 1998 or Section 256 Taxation of Chargeable Gains Act 1992 to the extent these are charitably applied. No tax charge has arisen in the year. |**9.**
**DEBTORS**|**2020**|**2019**| |---|---|---| ||**£**|**£**| |**Due within one year**||| |Debtors and prepayments|-|5,880| ||__________________|__________________| |||| |**10.**
**STOCKS**|**2020**|**2019**| ||**£**|**£**| |Percussion Instruments|100|100| ||__________________|__________________| |||| |**11.**
**CREDITORS**|**2020**|**2019**| ||**£**|**£**| |**Amounts falling due within one**
**year**||| |Trade creditors|100|150| |Accruals|500|250| |Deferred restricted income|9,110|10,195| |Deferred unrestricted income|250|-| |||| ||__________________
9,960|__________________
10,595| ||__________________|__________________| Page 12 ## **OneSound** ## **NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2020** |**1**
**2.**
**Analysis of movements**
**in funds**
**Balance at**
**31 August**
**2019**
**Incoming**
**resource**
**s**
**Resources**
**expended**
**Balance at**
**31 August**
**2020**
**£**
**£**
**£**
**£**
Unrestricted funds
7,114
14,758
(5,929)
15,943
__________________
__________________
__________________
__________________
Restricted funds:
Grant
-
19,974
(19,974)
-
__________________
__________________
__________________
__________________
**Total funds**
7,114
34,732
(25,903)
15,943
__________________
__________________
__________________
__________________|**1**
**2.**
**Analysis of movements**
**in funds**
**Balance at**
**31 August**
**2019**
**Incoming**
**resource**
**s**
**Resources**
**expended**
**Balance at**
**31 August**
**2020**
**£**
**£**
**£**
**£**
Unrestricted funds
7,114
14,758
(5,929)
15,943
__________________
__________________
__________________
__________________
Restricted funds:
Grant
-
19,974
(19,974)
-
__________________
__________________
__________________
__________________
**Total funds**
7,114
34,732
(25,903)
15,943
__________________
__________________
__________________
__________________|**1**
**2.**
**Analysis of movements**
**in funds**
**Balance at**
**31 August**
**2019**
**Incoming**
**resource**
**s**
**Resources**
**expended**
**Balance at**
**31 August**
**2020**
**£**
**£**
**£**
**£**
Unrestricted funds
7,114
14,758
(5,929)
15,943
__________________
__________________
__________________
__________________
Restricted funds:
Grant
-
19,974
(19,974)
-
__________________
__________________
__________________
__________________
**Total funds**
7,114
34,732
(25,903)
15,943
__________________
__________________
__________________
__________________|**1**
**2.**
**Analysis of movements**
**in funds**
**Balance at**
**31 August**
**2019**
**Incoming**
**resource**
**s**
**Resources**
**expended**
**Balance at**
**31 August**
**2020**
**£**
**£**
**£**
**£**
Unrestricted funds
7,114
14,758
(5,929)
15,943
__________________
__________________
__________________
__________________
Restricted funds:
Grant
-
19,974
(19,974)
-
__________________
__________________
__________________
__________________
**Total funds**
7,114
34,732
(25,903)
15,943
__________________
__________________
__________________
__________________|**1**
**2.**
**Analysis of movements**
**in funds**
**Balance at**
**31 August**
**2019**
**Incoming**
**resource**
**s**
**Resources**
**expended**
**Balance at**
**31 August**
**2020**
**£**
**£**
**£**
**£**
Unrestricted funds
7,114
14,758
(5,929)
15,943
__________________
__________________
__________________
__________________
Restricted funds:
Grant
-
19,974
(19,974)
-
__________________
__________________
__________________
__________________
**Total funds**
7,114
34,732
(25,903)
15,943
__________________
__________________
__________________
__________________|**1**
**2.**
**Analysis of movements**
**in funds**
**Balance at**
**31 August**
**2019**
**Incoming**
**resource**
**s**
**Resources**
**expended**
**Balance at**
**31 August**
**2020**
**£**
**£**
**£**
**£**
Unrestricted funds
7,114
14,758
(5,929)
15,943
__________________
__________________
__________________
__________________
Restricted funds:
Grant
-
19,974
(19,974)
-
__________________
__________________
__________________
__________________
**Total funds**
7,114
34,732
(25,903)
15,943
__________________
__________________
__________________
__________________|**1**
**2.**
**Analysis of movements**
**in funds**
**Balance at**
**31 August**
**2019**
**Incoming**
**resource**
**s**
**Resources**
**expended**
**Balance at**
**31 August**
**2020**
**£**
**£**
**£**
**£**
Unrestricted funds
7,114
14,758
(5,929)
15,943
__________________
__________________
__________________
__________________
Restricted funds:
Grant
-
19,974
(19,974)
-
__________________
__________________
__________________
__________________
**Total funds**
7,114
34,732
(25,903)
15,943
__________________
__________________
__________________
__________________| |---|---|---|---|---|---|---| |||**£**|**£**|**£**||| |Unrestricted funds||7,114|14,758|(5,929)||| |||||||| |Restricted funds:||__________________|__________________|__________________||| |Grant||-|19,974
(19,974)|||| |||__________________|__________________|__________________||| |**Total funds**||7,114|34,732
(25,903)|||| |||||||| |||__________________|__________________|__________________||| |**1**
**3.**
**ANALYSIS OF NET**
**ASSETS BETWEEN**
**FUNDS**
**Unrestricted**
**Restricted**||||**Total**
**2020**|**Total**
**2019**|| ||**£**||**£**|**£**|**£**|| |Debtors|-||-|-|5,880|| |Cash at bank|16,692||9,110|25,802|11,729|| |Stock|100||-|100|100|| |Creditors|(849)||(9,110)|(9,959)|(10,595)|| ||__________________||__________________|__________________||__________________| ||15,943||-|15,943||7,114| |||||||| Page 13