ONESOUND
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
CIO CHARITY NUMBER: 1121823
OneSound
CHARITY INFORMATION
TRUSTEES
| T J Boxall | |
|---|---|
| I Dyer | |
| P Amos | |
| R Lawson | |
| S Smith | Resigned August 2022 |
| E Cade | |
| W Collins | |
| M Sykes | resigned 05 February 2022 |
| T Thorncraft-Smith | appointed 23 October 2021 |
| T Pearse | appointed 23 October 2021 |
| A Richardson | appointed 27 October 2021 |
CHARITY NUMBER
1121823
REGISTERED OFFICE
Castle Cavendish Dorking Road Nottingham NG7 5PN
OneSound
CONTENTS
| Page | |
|---|---|
| Trustees annual report | 1 - 2 |
| Accountants’ report | 3 |
| Statement of financial information | 4 |
| Balance Sheet | 5 |
| Notes to the financial statements | 6 - 10 |
TRUSTEES ANNUAL REPORT For the Year to 31 August 2022
OneSound
The Trustees of the charity present their report and the financial statements for the year ended 31st August 2022
OBJECTIVES
The objectives of the Charity are to:
-
promote the Christian faith for the benefit of the public through music and creative arts.
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advance the education of the public in the understanding, appreciation and development of music.
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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:
| M Sykes (resigned 5thFebruary 2022) | P Amos |
|---|---|
| T J Boxall | R Lawson |
| I Dyer | S Smith (resigned 15thAugust 2022) |
| T Thorncraft-Smith (appointed 23rdOctober 2021) | |
| A Pearse (appointed 23rdOctober 2021) | |
| E Cade | |
| A Richardson (appointed 27thOctober 2021, resigned 2ndDecember 2021) | |
| W Collins |
As per OneSound’s CIO Constitution 13.2 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 onethird shall retire from office, but if there is only one charity trustee, he or she shall retire.
The trustee who is standing down officially from the date of the AGM is Tim Boxall. It is noted that Sam Smith resigned from the Board of Trustees.
Andrew Richardson resigned after only a short tenure due to communication difficulties on virtual meetings (he is reliant on a signing interpreter).
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The full complement of member Trustees are Pete Amos, Ruth Lawson, Emily Cade, and Will Collins. The non-member Trustees are Ian Dyer, Toni Thorncraft-Smith, Tony Pearse.
RISK MANAGEMENT
The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to ensure regular reports are produced for Trustees to ensure all necessary actions are taken to lessen the risks.
PUBLIC BENEFIT
The Trustees have complied with the duty in Section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission in respect of public benefit and in planning the activities for the year, have kept this in mind.
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.
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.
ACHIEVEMENTS AND PERFORMANCE – SEPTEMBER 2021 TO AUGUST 2022
As the country emerged from the Covid pandemic, OneSound began to look to restarting inperson weekends and concerts. However, many of the churches that OneSound had preliminary arrangements with were still reluctant to hold in-person events or were not in a position financially to be able to do so.
Therefore, in May 2022 OneSound held a recording and filming weekend based in Doncaster. This included an ambitious programme of recording and filming 5 songs, including one released to coincide with the Platinum Jubilee of The Queen. To date, the video of this has had 663 views https://www.youtube.com/watch?v=hIeze6RpuJw
During Advent 2021, OneSound’s Facebook page featured weekly re-runs of readings and songs from the Christmas 2020 ‘Hope is Here’ service; and at Easter 2022, a re-run of ‘When I Survey’ from 2021’s ‘Sunday’s Coming’ service.
On 23rd December, a small number of OneSound members contributed to an event at Grace Church Sheffield with a 30 minute song set as the prelude to an all-age nativity drama.
Sadly though, the new musicians recruited through virtual concerts have not translated into active members.
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Financial Review
The Statement of Financial Activities is set out on page seven. The Charity recorded a net loss of £3,393 in the year ended 31 August 2022 (2021: net loss of £875). The total funds held by the Charity on 31 August 2022 were £11,429, which include £1,215 of restricted funds carried forward. A breakdown is shown within note 12 to the financial statements.
The Trustees consider the reserves held are adequate to enable the Charity to fulfil its obligations.
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OneSound
TRUSTEES ANNUAL REPORT
For the Year to 31 August 2022
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 trustees, we certify that:
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so far as we are aware, there is no relevant information of which our accountants are unaware; and
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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 12[th] November 2022 and signed on its behalf by:
Ian J Dyer Acting Chair
Castle Cavendish Dorking Road Nottingham NG7 5PN
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OneSound
STATEMENT OF FINANCIAL ACTIVITIES For the Year ended 31 August 2022
| Notes Unrestricte d Restricted £ £ INCOMING RESOURCES Income from charitable activities: Voluntary income 2 3,624 3,600 Activities for generating funds Fundraising events 2 325 - Gift Aid 2 807 - Investment income Bank interest 3 3 - ___ __ Total incoming resources 4,759 3,600 ___ __ Expenditure Expenditure on charitable activities: Fundraising events 5 1,099 - Charitable activities 6 7,048 2,385 Governance 6 1,466 - __ __ Total Expenditure 4 (9,613) (2,385) ___ __ Net (expenditure)/income and net movement in funds for the year (4,854) 1,215 Total funds brought forward 15,068 - ___ ___ Total funds carried forward 10,214 1,215 ……. |
2022 £ 7,224 325 807 3 ___ 8,359 __ 1,424 9,433 1,466 ___ (11,998) __ (3,639) 15,068 ______ 11,429 |
2021 £ 13,070 - 515 2 |
|---|---|---|
| ______ 13,587 |
||
| ______ - 13,454 1,008 |
||
| ______ (14,462) |
||
| ______ (875) 15,943 |
||
| ______ 15,068 |
The statement of financial activities includes all gains and losses recognised in 2022 and 2021.
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 statements.
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OneSound
BALANCE SHEET For the Year ended 31 August 2022
| Note CURRENT ASSETS Cash at bank and in hand Stock 9 CREDITORS: Creditors: amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS Unrestricted funds 11 Restricted funds 11 12 |
2022 £ 12,345 349 ___ 12,694 (1,265) ___ |
£ ___ 11,429 __ 11,429 ___ 10,214 1,215 __ 11,429 ______ |
2021 £ 15,738 349 ___ 16,087 (1,019) ___ |
£ 15,068 |
|---|---|---|---|---|
| ______ 15,068 |
||||
| ______ 15,068 - |
||||
| ___ 15,068 ___ |
The financial statements were approved by the board on 2022 and signed on its behalf.
………………………………………
Trustee OneSound
The notes on pages 6 to 10 form part of these accounts
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OneSound
NOTES TO THE FINANCIAL STATEMENTS For the Year ended 31 August 2022
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
OneSound CIO was registered as a charitable incorporated organisation after converting from registered company limited by guarantee on 20 June 2019. It is governed by a constitution dated 20[th] June 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.
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OneSound
NOTES TO THE FINANCIAL STATEMENTS For the Year ended 31 August 2022
Resources expended
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.
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OneSound
NOTES TO THE FINANCIAL STATEMENTS For the Year ended 31 August 2022
2. Income from charitable activities
| Unrestricted | Restricted | 2022 | 2021 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Member Donations | 876 | - | 876 | 1,140 |
| Donations | 2,748 | - | 2,748 | 2,820 |
| Gift Aid | 807 | - | 807 | 515 |
| Grant | - | 3,600 | 3,600 | 9,110 |
| Event income | 325 | - | 325 | |
| ______ | ______ | ______ | ______ | |
| 4,756 | 3,600 | 8,356 | 13,585 | |
| ______ | ______ | ______ | ______ |
3. Investment income
Investment income of £3 (2021: £2) arises from money held in an interest-bearing deposit account.
| 4. Analysis of expenditure on charitable activities Unrestricted Restricted £ £ Event costs 1,099 - Governance costs (Note 6) 1,466 - General support costs (Note 6) 7,048 2,385 ___ __ 9,613 2,385 ___ __ |
2022 £ 1,099 1,466 9,433 ___ 11,998 ___ |
2021 £ - 1,008 13,454 ___ 14,462 ___ |
|---|---|---|
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OneSound
NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2022
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.
| Fundraising events Sheffield Christmas event Doncaster recording weekend Gift Aid Voluntary income Grant Investment income General support costs Governance costs Net expenditure from reserves |
2022 2022 Income Expenditure 325 (325) - (1,099) ___ __ 325 (1,424) 807 - 3,624 - 3,600 - 3 - - (8,862) - (1,466) ___ __ 8,359 (11,752) |
2022 Net - (1,099) ___ (1,099) 807 3,624 3,600 3 (8,862) (1,466) ___ (3,393) |
|---|---|---|
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OneSound
NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2022
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
| General support costs Contractor costs - Unrestricted Contractor costs – Restricted Storage costs Governance costs Travel to meetings Insurance Accountancy Software subscriptions Sundry Marketing |
2022 £ 5,130 2,385 1,918 ___ 9,433 __ 129 530 500 102 206 - ___ 1,466 __ |
2021 £ 2,561 9,110 1,783 ___ 13,454 __ - 530 250 - 188 40 ___ 1,008 __ |
|---|---|---|
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OneSound
NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2022
7. Trustee remuneration and expenses
None of the trustees (or any persons connected with them) received any remuneration during the year.
No trustees were reimbursed for directly incurred expenses.
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. STOCKS Percussion Instruments 10. CREDITORS Amounts falling due within one year Trade creditors Accruals Deferred restricted income Deferred unrestricted income |
2022 £ 349 ___ 2022 £ 50 - 1,215 - ___ 1,265 |
2021 £ 349 ___ 2021 £ 100 750 - 169 ___ 1,019 |
|---|---|---|
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OneSound
NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2022
| 11. | Analysis of movements in | Balance at | 31 | Incoming | Resources | Balance at |
|---|---|---|---|---|---|---|
| funds | August 2021 | resources | expended | 31 August | ||
| 2022 | ||||||
| £ | £ | £ | £ | |||
| Unrestricted funds | 15,068 ______ |
4,759 ______ |
(9,613) ______ |
10,214 ______ |
||
| Restricted funds: | ||||||
| Grant | - |
3,600 |
(2,385) | 1,215 |
||
| ______ | ______ | ______ | ______ | |||
| Total funds | 15,068 |
8,359 |
(11,998) | 11,429 |
||
| ______ | ______ | ______ | ______ | |||
| 12. | ANALYSIS OF NET | Unrestricted | Restricted | Total | Total | |
| ASSETS BETWEEN | 2022 | 2021 | ||||
| FUNDS | ||||||
| £ | £ | £ | £ | |||
| Cash at bank | 11,130 | 1,215 | 12,345 | 15,738 | ||
| Stock | 349 | - | 349 | 349 | ||
| Creditors | (50) |
(1,215) |
(1,265) | (1,019) |
||
| ______ | ______ | ______ | ______ | |||
| 11,429 ______ |
- ______ |
11,429 ______ |
15,068 ______ |
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