ONESOUND
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
CIO CHARITY NUMBER: 1121823
OneSound
CHARITY INFORMATION
TRUSTEES
| TRUSTEES | |
|---|---|
| I Dyer | |
| P Amos | |
| R Lawson | |
| E Cade | |
| W Collins | |
| T Thorncraft-Smith | appointed 23 October 2021, resigned 24 April 2024 |
| 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 |
OneSound
TRUSTEES ANNUAL REPORT For the Year to 31 August 2024
The Trustees of the charity present their report and the financial statements for the year ended 31st August 2024
OBJECTIVES
The objectives of the Charity are to:
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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:
P Amos R Lawson I Dyer T Thorncraft-Smith (appointed 23[rd] October 2021, resigned 24th April 2024) 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 one-third 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 2024/25 is Emily Cade.
The full complement of member Trustees are Pete Amos, Ruth Lawson, Emily Cade, and Will Collins. The non-member Trustees are Ian Dyer,Tony Pearse.
RISK MANAGEMENT
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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 2023 TO AUGUST 2024
Throughout the first part of the year, the trustees were considering whether to recommend closure due to lack of members. On 21st May, a general meeting of members was held in accordance with the constitution; this meeting passed unanimously the following three resolutions:
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Resolution 1 - Approval to begin the process to close down the charity and dissolution once the requirements have been met.
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Resolution 2 - To identify and make arrangements to settle the charity’s debts, assets and liabilities.
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Resolution 3- To authorise relevant filings to be made with the Charity Commission.
The trustees are anticipated to complete the closure process for the charity early in 2025
In July 2024, OneSound took part in the 50th Anniversary reunion and concert in Coventry of MAYC Orchestra & Singers/OneSound. In the light of the closure decision, this also served as the farewell concert.
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Financial Review
The Statement of Financial Activities is set out on page seven. The Charity recorded a net loss of £4,387 in the year ended 31 August 2024 (2023: net gain of £231). The total funds held by the Charity on 31 August 2024 were £9,230 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 2024
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 16th June 2025 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 2024
| Notes Unrestrict ed Restricted £ £ INCOMING RESOURCES Income from charitable activities: Voluntary income 2 1,775 - Activities for generating funds Fundraising events 2 - - Gift Aid 2 - - Investment income Bank interest 3 118 - ___ __ Total incoming resources 1,893 - ~~___~~ ~~__~~ Expenditure Expenditure on charitable activities: Events 5 2,930 - Charitable activities 6 3,015 Governance 6 335 - __ __ Total Expenditure 4 (6,280) (-) ___ __ Net (expenditure)/income and net movement in funds for the year (4,387) Total funds brought forward 12,404 1,215 ___ __ Total funds carried forward 8,017 1,215 ……. ___ __ |
2024 £ 1,775 - - 118 ___ 1,893 ~~__~~ 2,930 3,015 335 ___ (6,280) __ (4,387) 13,619 ___ 9,232 ___ |
2023 £ 1,922 4,591 - 40 |
|---|---|---|
| ______ 6,553 |
||
| ~~______~~ 3,290 2,086 946 |
||
| ______ (6,322) |
||
| ______ 231 11,429 |
||
| ___ 12,875 ___ |
The statement of financial activities includes all gains and losses recognised in 2024 and 2023.
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 2024
| 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 |
2024 £ 8,881 349 ___ 9,230 (1,215) ___ |
£ ___ 9,230 __ 8,015 ___ 8,015 1,215 __ 9,230 |
2023 £ 13,270 349 ___ 13,619 (1,215) ___ |
£ 13,619 ______ |
|---|---|---|---|---|
| 12,404 ______ |
||||
12,404 1,215 |
||||
| ______ 13,619 |
The financial statements were approved by the board on 16th June 2025 and signed on its behalf.
Ian Dyer
………………………………………
Trustee OneSound
The notes on pages 10 to 15 form part of these accounts
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OneSound
NOTES TO THE FINANCIAL STATEMENTS For the Year ended 31 August 2024
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.
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OneSound
NOTES TO THE FINANCIAL STATEMENTS For the Year ended 31 August 2024
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 2024
2. Income from charitable activities
| Unrestricted | Restricted | 2024 | 2023 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Member Donations | 178 | - | 178 | 351 |
| Donations | 1,597 | - | 1,597 | 1,571 |
| Gift Aid | - | - | - | |
| Event income | - | - | - | 4,591 |
| ______ | ______ | ______ | ______ | |
| 1,775 | 1,775 | 6,513 | ||
| ______ | ______ | ______ | ______ |
3. Investment income
Investment income of £118 (2023: £40) arises from money held in an interest-bearing deposit account.
Analysis of expenditure on 4. charitable activities
| Unrestricted Restricted £ £ Event costs 2,930 - Governance costs (Note 6) 335 - General support costs (Note 6) 3,015 - ___ __ 6,280 ___ __ |
2024 £ 2,930 335 3,015 ___ 6,280 ___ |
2023 £ 3,290 946 2,086 |
|---|---|---|
| ___ 6,322 ___ |
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OneSound
NOTES TO THE FINANCIAL STATEMENTS
For the Year to 31 August 2024
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 50th Anniversary/Reunion Gift Aid Voluntary income Investment income General support costs Governance costs Net expenditure from reserves |
2024 2024 Income Expenditure - (2,930) - - 118 - - (3,015) - (335) ___ __ 118 (6,280) ___ __ |
2024 Net (2,930) - 118 (3,015) (335) ___ (6,162) ___ |
|---|---|---|
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 Bank Charges Storage costs Governance costs Insurance Accountancy Software subscriptions Sundry Virtual Office hosting |
2024 £ 495 - 120 2,400 ___ 3,015 __ - - 215 - 120 ___ 335 __ |
2023 £ 120 - - 1,966 ___ 2,086 __ 540 250 149 7 - ___ 946 __ |
|---|---|---|
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OneSound
NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2024
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. STOCK Percussion Instruments 10. CREDITORS Amounts falling due within one year Trade creditors Accruals Deferred restricted income Deferred unrestricted income |
2024 £ 349 ___ 2024 £ - - 1,215 - ___ 1,215 ______ |
2023 £ 349 ___ 2023 £ -- 1,215 - ___ 1,215 ______ |
|---|---|---|
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OneSound
NOTES TO THE FINANCIAL STATEMENTS For the Year to 31 August 2024
| 11. | Analysis of movements in | Balance at | 31 | Incoming | Resources | Balance at |
|---|---|---|---|---|---|---|
| funds | August 2023 | resources | expended | 31 August | ||
| 2024 | ||||||
| £ | £ | £ | £ | |||
| Unrestricted funds | 12,404 | 1,893 | (6,280) | 8,017 | ||
| ______ | ______ | ______ | ______ | |||
| Restricted funds: | ||||||
| Grant | 1,215 |
- |
(-) | 1,215 |
||
| ______ | ______ | ______ | ______ | |||
| Total funds | 13,619 | 1,893 | (6,280) | 9,232 | ||
| ______ | ______ | ______ | ______ | |||
| 12. | ANALYSIS OF NET | Unrestricted | Restricted | Total | Total | |
| ASSETS BETWEEN | 2024 | 2023 | ||||
| FUNDS | ||||||
| £ | £ | £ | £ | |||
| Cash at bank | 7,668 | 1,215 | 8,883 | 13,270 | ||
| Stock | 349 | 349 | 349 | |||
| Creditors | - | (1,215) |
(1,215) |
(1,215) |
||
| ______ | ______ | ______ | ______ | |||
| 8,017 | - | 8,017 | 12,404 | |||
| ______ | ______ | ______ | ______ |
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