## **ONESOUND**
**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
**CIO CHARITY NUMBER: 1121823**
## **OneSound**
## **CHARITY INFORMATION**
## **TRUSTEES**
|||
|---|---|
|I Dyer||
|P Amos||
|R Lawson||
|||
|E Cade||
|W Collins||
|||
|T Thorncraft-Smith|appointed 23 October 2021|
|A Pearse|appointed 23 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 2023**
## **OneSound**
The Trustees of the charity present their report and the financial statements for the year ended 31st August 2023
## **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:
P Amos T J Boxall (resigned 12th November 2022) R Lawson I Dyer T Thorncraft-Smith (appointed 23[rd] October 2021) A Pearse (appointed 23[rd] October 2021) E Cade 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 in 2023/24 is Toni Thorncraft-Smith.
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.
4
## **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 2022 TO AUGUST 2023**
From 30th September - 2nd October 2022, the band and a very small number of singers took part in the 3Generate Methodist youth event at the National Exhibition Centre, Birmingham. They did Friday and Saturday evening ‘Unplanned and Unplugged’ sessions in the Inflatable Chapel and then the Sunday morning Big Sing in a larger venue. These were well received and the Sunday morning especially was very well attended. However, since then, due to lack of members, the trustees have been considering whether to recommend closure of OneSound.
## **Financial Review**
The Statement of Financial Activities is set out on page seven. The Charity recorded a net gain of £231 in the year ended 31 August 2023 (2022: net loss of £3,393). The total funds held by the Charity on 31 August 2023 were £12,875 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.
5
## **OneSound**
## **TRUSTEES ANNUAL REPORT**
**For the Year to 31 August 2023**
## **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:
- 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 June 13th 2024 and signed on its behalf by:
## Ian J Dyer Acting Chair
Castle Cavendish Dorking Road Nottingham NG7 5PN
6
## **OneSound**
## **STATEMENT OF FINANCIAL ACTIVITIES For the Year ended 31 August 2023**
|**Notes**
**Unrestricte**
**d**
**Restricted**
**£**
**£**
**INCOMING RESOURCES**
**Income from charitable activities:**
Voluntary income
2
1,922
-
Activities for generating
funds
Fundraising
events
2
4,591
-
Gift Aid
2
-
-
**Investment income**
Bank interest
3
40
-
__________________
__________________
**Total incoming**
**resources**
6,553
-
__________________
__________________
**Expenditure**
**Expenditure on**
**charitable activities:**
Fundraising
events
5
3,290
-
**Charitable activities**
6
2,086
**Governance**
6
946
-
_________________
__________________
**Total Expenditure**
4
(6,322)
(-)|**2023**
**£**
1,922
4,591
-
40
__________________
6,553
__________________
3,290
2,086
946
__________________
(6,322)|**2022**
**£**
7,224
325
807
3
|
|---|---|---|
|||__________________
8,359
__________________
1,099
9,433
1,466
__________________
(11,998)|
7
|Net (expenditure)/income and net
movement in funds for the year
Total funds brought
forward
**Total funds carried**
**forward**
…….|231
11,429
__________________
11,660|-
__________________
1,215|231
11,429
__________________
12,875|(3,639)
15,068|
|---|---|---|---|---|
|||||__________________
11,429|
The statement of financial activities includes all gains and losses recognised in 2023 and 2022. 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.
## **OneSound**
## **BALANCE SHEET For the Year ended 31 August 2023**
|**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**|**2023**
**£**
12,526
349
__________________
12,875
(1,215)
__________________|**£**
__________________
11,660
__________________|**2022**
**£**
12,345
349
__________________
12,694
(1,265)
__________________|**£**
11,429|
|---|---|---|---|---|
|||||__________________|
8
|**LIABILITIES**
**FUNDS**
Unrestricted funds
11
Restricted funds
11
12|11,660
__________________
11,660
1,215
__________________
12,875
|11,429|
|---|---|---|
|||__________________
10,214
1,215|
|||__________________
11,429
|
The financial statements were approved by the board in June 2024 and signed on its behalf.
………………………………………
Trustee OneSound
The notes on pages 9 to 15 form part of these accounts
9
**NOTES TO THE FINANCIAL STATEMENTS For the Year ended 31 August 2023**
## **OneSound**
## **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 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.
10
## **OneSound**
**NOTES TO THE FINANCIAL STATEMENTS For the Year ended 31 August 2023**
## **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.
11
## **OneSound**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year ended 31 August 2023**
## **2. Income from charitable activities**
||**Unrestricted**|**Restricted**|**2023**|**2022**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|Member Donations|351|-|351|876|
|Donations|1,571|-|1,571|2,748|
|Gift Aid||-||807|
|Grant|-||0|3,600|
|Event income|4,591|-|4,591|325|
||__________________|__________________|__________________|__________________|
||6,513||6,513|8,356|
||__________________|__________________|__________________|__________________|
## **3. Investment income**
Investment income of £40 (2022: £3) arises from money held in an interest-bearing deposit account.
## **Analysis of expenditure on 4. charitable activities**
|**Unrestricted**
**Restricted**
**£**
**£**
Event costs
3,290
-
Governance costs (Note 6)
946
-
General support costs (Note 6)
2,086
__________________
__________________
6,322|**2023**
**£**
3,290
946
2,086
__________________
6,322|**2022**
**£**
1,099
1,466
9,433|
|---|---|---|
|||__________________
11,998|
12
__________________
__________________
__________________
__________________
13
## **OneSound**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2023**
## **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**
3Generate
Gift Aid
Voluntary income
Investment income
General support costs
Governance costs
Net expenditure from reserves|**2023**
**2023**
**Income**
**Expenditure**
4,591
(3,290)
__________________
__________________
4,591
(3,290)
-
-
1,922
-
40
-
-
(2,086)
-
(946)
__________________
__________________
6,553
(6,322)
|**2023**
**Net**
1,301
__________________
1,301
-
1,922
40
(2,086)
(946)
__________________
231
|
|---|---|---|
14
## **OneSound**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2023**
## **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|**2023**
**£**
120
-
1,966
__________________
2,086
__________________
-
540
250
149
7
-
__________________
946
__________________|**2022**
**£**
5,130
2,385
1,918|
|---|---|---|
|||__________________
9,433|
|||__________________
129
530
500
102
206
-|
|||__________________
1,466
__________________|
15
## **OneSound**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2023**
## **7. Trustee remuneration**
None of the trustees (or any persons connected with them) received any remuneration during the year.
.
## **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|**2023**
**£**
349
__________________
**2023**
**£**
1,215
-
__________________
1,215
|**2022**
**£**
349|
|---|---|---|
|||__________________
**2022**
**£**
50
-
1,215
-
__________________
1,265
|
16
## **OneSound**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2023**
|**11.**|**Analysis of movements in**|**Balance at**|**31**|**Incoming**|**Resources**|**Balance at**|
|---|---|---|---|---|---|---|
||**funds**|**August 2022**||**resources**|**expended**|**31 August**|
|||||||**2023**|
||||**£**|**£**|**£**|**£**|
||Unrestricted funds|10,214||6,553|(6,322)|10,445|
|||__________________||__________________|__________________|__________________|
||Restricted funds:||||||
||Grant|1,215||-|(-)|1,215|
|||__________________||__________________|__________________|__________________|
||**Total funds**|11,429||6,553|(6,322)|11,660|
|||__________________||__________________|__________________|__________________|
|**12.**|**ANALYSIS OF NET**|**Unrestricted**||**Restricted**|**Total**|**Total**|
||**ASSETS BETWEEN**||||**2023**|**2022**|
||**FUNDS**||||||
|||**£**||**£**|**£**|**£**|
||Cash at bank|11,311||1,215|12,526|12,345|
||Stock|349||-|349|349|
||Creditors|(-)||(1,215)|(1,215)|(1,265)|
|||__________________||__________________|__________________|__________________|
|||11,660
__________________||-
__________________|11,660
__________________|11,429
__________________|
17