## **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **LIBERA**
**(COMPANY LIMITED BY GUARANTEE)**
**CHARITY REGISTRATION NUMBER 1127722**
**COMPANY REGISTRATION NUMBER 06774391**
Independent Examiners Ltd
2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
## **LIBERA (A COMPANY LIMITED BY GUARANTEE)**
## **CONTENTS**
|Page 3|Legal & Administrative Information.|
|---|---|
|Page 4|Report of the Directors.|
|Page 5|Independent Examiner's Report on the Accounts.|
|Page 6|Statement of Financial Activities.|
|Page 7|Balance Sheet.|
|Pages 8 to 13|Notes to the Financial Statements.|
2
## **LIBERA**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**CHARITY NUMBER** 1127722 **COMPANY REGISTRATION NUMBER** 6774391 **START OF FINANCIAL YEAR** 01 January 2023 **END OF FINANCIAL YEAR** 31 December 2023 **DIRECTORS AT 31 DECEMBER 2023** Andrew Winter - Chair Eleanor Caron Lewis Barbara Geraghty Anna Jansen
The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.
**GOVERNING INSTRUMENT** Memorandum and Articles of Association dated 16th December 2008
## **OBJECTS**
a) The charity's objects ("The Objects") are for the public benefit and are in accordance with the Christian principles contained in the Statement of Faith to the articles.
b) To advance, improve, develop and maintain public education in and appreciation of the art and science of boys' choral music by any charitable means the trustees think fit including, but not limited to, educating boys in choral music.
## **REGISTERED ADDRESS**
Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
## **BANKERS**
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
## **INDEPENDENT EXAMINER**
Independent Examiners Ltd Unit 2 ,The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
3
## **LIBERA (A COMPANY LIMITED BY GUARANTEE) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **REPORT OF THE DIRECTORS**
During 2023 the Directors of Libera met on 1 occasion. The following officers were re-elected. Mr A Winter - Chair
Mrs E Lewis - Honorary Secretary
Mr A Winter - Honorary Treasurer
Libera is a UK charity based in South London with a mission to keep alive and actively encourage the tradition of boys’ choral singing. The charity arranges the recruitment and manages the training and performances of youngsters who come from a wide variety of backgrounds. The boys’ performances include leading acts of worship, performing concerts in the UK and overseas, production of music albums, videos, TV and radio appearances.
During 2023 Libera returned to pre pandemic levels of activity. 40 boys toured in Korea, Japan and the USA. The Korea and Japan tours were fully funded by local promoters, and the USA tour was jointly funded by Libera and Libera of the US. A total of 12 overseas concerts were performed along with an appearance at the International Hibiya Festival in Tokyo. While in Japan Libera boys participated in a number of TV programmes, film and music recordings and special events.
A new album was released. Forever was the first release without Robert Prizeman, the group’s founder. It included new compositions by Libera alumni and covers of songs by other artists. Creating an album provides boys with an insight into the techniques of record production and is part of the unique musical education that the charity provides.
Vocal training was delivered by paid vocal coaches and volunteers. Engagement of several volunteer licensed chaperones, along with enhanced DBS clearance and certified training of others in the staff team, ensured compliance with the charity's child safeguarding policy.
Libera provides life opportunities for boys, many of whom go on to careers in the performing arts, both as performers and in many other roles such as composers, arrangers, musical directors, music teachers, TV producers.
## **STATEMENT OF DIRECTOR'S RESPONSIBILITIES**
The Charities Act and the Companies Act require the Board of Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
i. select suitable accounting policies and then apply them consistently;
ii. make judgements and estimates that are reasonable and prudent;
iii. prepare financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in business;
iv. state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.
The directors are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. 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.
The directors are also responsible for the contents of the Report of the Directors, and the responsibility of the independent examiner in relation to the Report of the Directors is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
I approve the attached statement of financial activities and balance sheet for the period ended 31st December 2023, and confirm that I have made available all information necessary for its preparation. Approved by the Directors on ............................................ 22/7/2024 Signed on their behalf by Director ................................................. Der
Print Name:
4
## **LIBERA (A COMPANY LIMITED BY GUARANTEE)**
## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
## **RESPONSIBILITIES AND BASIS OF REPORT**
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the 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 material matters have come to my attention which gives me cause to believe that:
- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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
- the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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.
> Date: 23.7.24
Signed :
K Gomes FCIE MAAT Independent Examiners Ltd Unit 2,The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
5
## **LIBERA (A COMPANY LIMITED BY GUARANTEE)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **(Incorporating Income & Expenditure Account)**
|**Note**
**INCOME**
**Income from:**
Donations and Legacies
**3a**
Charitable Activities
**3b**
Investment Income
**3c**
Other Income
**3d**
**TOTAL INCOME**
**EXPENDITURE**
**Expenditure on:**
Charitable Activities
**4a**
Activities for Generating Funds
**4b**
**TOTAL EXPENDITURE**
**NET INCOME/ EXPENDITURE**
Transfers between Funds
Funds Brought Forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2023**
**2022**
£
£
**£**
**£**
10,066
21,603
31,669
26,670
92,549
-
92,549
33,494
299
-
299
82
132,540
-
132,540
240,556|
|---|---|
||**235,454**
**21,603**
**257,057**
**300,802**|
||269,173
21,603
290,776
238,686
12,907
-
12,907
7,338|
||**282,080**
**21,603**
**303,683**
**246,024**|
||**(46,626)**
**-**
**(46,626)**
**54,778**
-
137,803
-
137,803
83,025|
||**91,177**
**-**
**91,177**
**137,803**|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 13 form part of these financial statements.
6
## **LIBERA (A COMPANY LIMITED BY GUARANTEE)**
## **BALANCE SHEET AS AT 31ST DECEMBER 2023**
|||Unrestricted|Restricted|**31-Dec-23**|**31-Dec-22**|
|---|---|---|---|---|---|
|||Funds|Funds|**Total**|**Total**|
||**Note**|£|£|**£**|**£**|
|**Fixed Assets**||||||
|Tangible Assets|**2**|3,499|-|3,499|5,249|
|||3,499|-|3,499|5,249|
|**Current Assets**||||||
|Debtors & Prepayments|**7**|9,187|-|9,187|39,241|
|Cash at Bank and in Hand|**6**|82,198|-|82,198|103,377|
|**Total Current Assets**||**91,385**|**-**|**91,385**|**142,618**|
|**Creditors:**amounts falling due|**8**|3,707|-|3,707|2,814|
|within one year||||||
|**NET CURRENT ASSETS**||87,678|-|87,678|139,804|
|**TOTAL ASSETS**less current||**91,177**|**-**|**91,177**|**145,053**|
|liabilities||||||
|**Creditors:**amounts falling due|**9**|-|-|-|7,250|
|more than one year||||||
|**NET ASSETS**||**91,177**|**-**|**91,177**|**137,803**|
|**Funds of the Charity**||||||
|General Funds||91,177|-|91,177|137,803|
|Designated Funds||-|-|-|-|
|Restricted Funds||-|-|-|-|
|**Total Funds**||**91,177**|**-**|**91,177**|**137,803**|
## **Directors' Responsibilities:**
For the financial year ending 31 December 23 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476;
- and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and
- the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements were approved by the trustees, and authorised for issue and signed on their behalf by: Approved by the Directors on ….......................................... 23/7/or}
**----- Start of picture text -----**
Signed on their behalf by Director ............................................................
GQ) date
**----- End of picture text -----**
Print Name:
7
## **LIBERA (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of Preparation**
The financial statements have been prepared on a historical cost basis of accounting in accordance with Charities Act 2011, Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2015), applicable accounting standards and Companies Act 2006. The accounts are prepared on an ongoing concern basis. The charity meets the public benefit entity definition (FRS102). Restatement was not required in making the transition to FRS102. The date of transition was 1st January 2015.
Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the charity's operation and in order to comply with the requirements of the SORP.
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement.
## _Changes in Accounting Policies and Previous Accounts_
There has been no change to the accounting policies since last year and no changes in the previous accounts.
## **Incoming Resources**
## _Recognition of Incoming Resources_
These are included in the Statement of Financial Activities (SOFA) when:
- the charity becomes entitled to the resources;
- the Directors are virtually certain they will receive the resources; and
- the monetary value can be measured with sufficient reliability.
## _Incoming Resources with Related Expenditure_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
## _Grants and Donations_
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _Tax Reclaims on Donations and Gifts_
Incoming resources from tax reclaims are included in the SOFA in the same financial period as the gift to which they relate.
## _Contractual Income and Performance Related Grants_
This is only included in the SOFA once the related goods or services has been delivered.
## _Gifts in Kind_
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when received.
## _Donated Services and Facilities_
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
8
## **LIBERA (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **1. ACCOUNTING POLICIES (Continued)**
## **Incoming Resources (continued)**
## _Volunteer Help_
The value of any voluntary help received is not included in the accounts but is described in the Report of the Directors.
## **Expenditure and Liabilities**
## _Liability Recognition_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## _Governance Costs_
Governance Costs include costs of the preparation and examination of statutory accounts, the costs of the Directors' meetings and cost of any legal advice to directors on governance or constitutional matters.
## _Grants with Performance Conditions_
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
## **Assets**
## _Fixed Assets_
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
General Equipment 25% Communication Equipment 25%
_There has been no change to the accounting polices (Variation rules and methods of accounting) since last year._
|**2. TANGIBLE FIXED ASSETS**
Cost
01-Jan-23
Additions
Disposals
Cost at
31-Dec-23
Depreciation
01-Jan-23
Disposals
Charge
Depreciation at
31-Dec-23
Net Book Value
31-Dec-23
Net Book Value
31-Dec-22|Unrestricted
Total
£
£
6,999
6,999
-
-
-
-
Equipment|
|---|---|
||6,999
6,999|
||1,750
1,750
-
-
1,750
1,750|
||3,500
3,500|
||**3,499**
**3,499**|
||5,249
5,249|
There are no commitments under non-cancelling operating leases and capital commitments (2022: None)
9
## **LIBERA (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **3. INCOME**
|**a) Donations and Legacies**
Gift Aid Tax Recovered
Gifts and Donations
Parents Contribution to Boot Camp
Bootcamp Grant
**b) Income from other Charitable Activities**
Concert Income
Providing Music in church
Recording Income
International Tour
**c) Investment Income**
Interest Received
**d) Other Income**
Sale of Merchandise
Royalties
Sale of Equipment
Sales Commission
Gifts in Kind
Donated Services|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2023**
**2022**
£
£
**£**
**£**
156
156
-
9,910
21,603
31,513
17,735
-
6,935
-
-
-
2,000|
|---|---|
||**10,066**
**21,603**
**31,669**
**26,670**|
||12,579
-
12,579
28,644
5,000
-
5,000
4,850
4,764
-
4,764
-
70,206
-
70,206
-|
||**92,549**
**-**
**92,549**
**33,494**|
||299
-
299
82|
||**299**
**-**
**299**
**82**|
||10,241
-
10,241
15,169
117,010
-
117,010
176,253
4,000
-
4,000
5,225
289
-
289
229
-
-
-
42,680
1,000
-
1,000
1,000|
||**132,540**
**-**
**132,540**
**240,556**|
10
## **LIBERA (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **4. EXPENSES**
|**4. EXPENSES**||||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|**TOTAL**|**TOTAL**|
|||Funds|Funds|**2023**|**2022**|
|||£|£|**£**|**£**|
|**a) Expenditure on Charitable Activities**||||||
|Accommodation||17,858|-|17,858|17,704|
|Admin Support||3,000|-|3,000|3,450|
|Bank Charges||192|-|192|117|
|Boys' Expenditure||2,044|-|2,044|1,961|
|Computer Software||626|-|626|691|
|Depreciation||1,750|-|1,750|1,750|
|Donated Services and Facilities||1,000|-|1,000|1,000|
|Equipment||5,615|-|5,615|1,092|
|Gifts in kind written off||-|-|-|39,781|
|Independent Examiner Fee||1,200|-|1,200|1,050|
|Insurance Costs||5,070|-|5,070|2,613|
|International Tour costs||105,759|21,603|127,362|-|
|Internet Accounts||849|-|849|765|
|Legal & Professional fees||653|-|653|886|
|Loan Repaid||-|-|-|1,000|
|Music in Church||10,490|-|10,490|3,952|
|Postage, Printing, Stationery||1,872|-|1,872|2,170|
|Recording Expenses||56,344|-|56,344|18,850|
|Residential Training Courses||-|-|-|54,894|
|Staff Training||230|-|230|-|
|Sundry expenses||349|-|349|1,354|
|UK Concert Costs||39,110|-|39,110|55,326|
|Vocal Training||14,447|-|14,447|27,745|
|Website/internet costs||715|-|715|536|
|||**269,173**|**21,603**|**290,776**|**238,686**|
|||Unrestricted|Restricted|**TOTAL**|**TOTAL**|
|||Funds|Funds|**2023**|**2022**|
|||£|£|**£**|**£**|
|**b) Cost of Generating Funds**||||||
|Advertising & Publicity/Social Media||3,848|-|3,848|226|
|Fees||216|-|216|216|
|Cost of Merchandising||8,843|-|8,843|6,897|
|||**12,907**|**-**|**12,907**|**7,338**|
|**5. RESTRICTED FUNDS**|Balance||||Balance|
||01-Jan-23|Income|Expenditure|Transfers|31-Dec-23|
|International Tour Fund|-|21,603|21,603|-|-|
||**-**|**21,603**|**21,603**|**-**|**-**|
The restricted funds are wholly represented by the Charity's cash reserves.
11
## **LIBERA (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **6. CASH AT BANK AND IN HAND**
|**6. CASH AT BANK AND IN HAND**||
|---|---|
|Current Account
**7. DEBTORS AND PREPAYMENTS**
Debtor|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Dec-23**
**31-Dec-22**
£
£
**£**
**£**
82,198
-
82,198
103,377|
||**82,198**
**-**
**82,198**
**103,377**|
||Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Dec-23**
**31-Dec-22**
£
£
**£**
**£**
9,187
-
9,187
39,241|
||**9,187**
**-**
**9,187**
**39,241**|
## **8. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Credit Card
Independent Exam|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Dec-23**
**31-Dec-22**
£
£
**£**
**£**
2,507
-
2,507
1,764
1,200
1,200
1,050|
|---|---|
||**3,707**
**-**
**3,707**
**2,814**|
## **9. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
|Long Term Creditors|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Dec-23**
**31-Dec-22**
£
£
**£**
**£**
-
-
-
7,250|
|---|---|
||**-**
**-**
**-**
**7,250**|
## **10. STAFF COSTS AND NUMBERS**
The Charity employed no members of staff during this or the previous financial period. (2022 - None)
12
## **LIBERA (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **11. DIRECTORS AND OTHER RELATED PARTIES**
During this period one director was paid for providing admin support to the charity, and family members of two directors were paid for providing musical and technical services.
## **12. RECONCILATION OF MOVEMENT ON CAPITAL AND RESERVES**
The Company is Limited by Guarantee 06774391 and it is a charity registered with the Charity Commission 1127722.
It does not have a Share capital and has no income subject to Corporation Tax.
|Profit / Deficit for the financial year
Other Recognised Gains
Balance Brought Forward
Closing Funds|**2023**
**2022**
(46,626)
54,778
-
-
137,803
83,025|
|---|---|
||**91,177**
**137,803**|
## **13. RISK ASSESSMENT**
The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **14. RESERVES POLICY**
The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **15. PUBLIC BENEFIT**
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Directors' report. The Directors confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
13