Registration number: 6824932
Camborne Town Band Music Society
(A company limited by guarantee)
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2022
Keith Lyons. Certified Public Accountants. Suite 1B Gateway Business Centre Barncoose Redruth TR15 3RQ
Camborne Town Band Music Society
Contents
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Company Information 1
Directors' Report 2
Accountants' Report 3
Profit and Loss Account 4
Balance Sheet 5
Notes to the Financial Statements 6 to 7
The following pages do not form part of the statutory financial statements:
Detailed Profit and Loss Account 8 to 10
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Camborne Town Band Music Society Company Information
Directors Mrs S Brown Mr M Julian Miss A Retallack Miss M Smith Mr D Gifford Mr Vivian Hawkey Company secretary Mr R Cook Registered office The Band Room Camborne Community Centre South Terrace Camborne Cornwall TR14 8SU Accountants Keith Lyons. Certified Public Accountants. Suite 1B Gateway Business Centre Barncoose Redruth TR15 3RQ
Page 1
Camborne Town Band Music Society
Directors' Report for the Year Ended 31 December 2022
The directors present their report and the unaudited financial statements for the year ended 31 December 2022.
Directors of the company
The directors who held office during the year were as follows:
Mrs S Brown Mr M Julian Mrs A Netherton (resigned 6 September 2022) Miss A Retallack Miss M Smith Mr D Gifford Mr Vivian Hawkey
Small company provisions
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the Board on 12 May 2023 and signed on its behalf by:
......................................... Mr R Cook Company secretary
Page 2
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Camborne Town Band Music Society
for the Year Ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Camborne Town Band Music Society for the year ended 31 December 2022 set out on pages 4 to 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Camborne Town Band Music Society, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Camborne Town Band Music Society and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Camborne Town Band Music Society and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Camborne Town Band Music Society has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Camborne Town Band Music Society. You consider that Camborne Town Band Music Society is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Camborne Town Band Music Society. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Keith Lyons. Certified Public Accountants. Suite 1B Gateway Business Centre Barncoose Redruth TR15 3RQ 12 May 2023
Page 3
Camborne Town Band Music Society
Profit and Loss Account for the Year Ended 31 December 2022
| Note Turnover Cost of sales Gross profit Administrative expenses Operating (loss)/profit 2 Other interest receivable and similar income Amounts written off investments (Loss)/profit on ordinary activities before taxation (Loss)/profit for the financial year 5 |
2022 £ 30,069 (17,947) 12,122 (17,206) (5,084) 112 (755) (5,727) (5,727) |
2021 £ 56,111 (8,848) |
|---|---|---|
| 47,263 (15,181) |
||
| 32,082 - (651) |
||
| 31,431 | ||
| 31,431 |
The notes on pages 6 to 7 form an integral part of these financial statements. Page 4
Camborne Town Band Music Society
(Registration number: 6824932)
Balance Sheet at 31 December 2022
| Note Fixed assets Tangible fixed assets 3 Current assets Stocks Cash at bank and in hand Net assets Capital and reserves Revaluation reserve 5 Profit and loss account 5 Shareholders' funds |
2022 £ 68,691 8,827 113,233 122,060 190,751 58,906 131,845 190,751 |
2021 £ 70,239 |
|---|---|---|
| 9,388 116,851 |
||
| 126,239 | ||
| 196,478 | ||
| 58,906 137,572 |
||
| 196,478 |
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).
For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Approved and authorised for issue by the Board on 12 May 2023 and signed on its behalf by:
......................................... Mr R Cook Company secretary
The notes on pages 6 to 7 form an integral part of these financial statements. Page 5
Camborne Town Band Music Society Notes to the Financial Statements for the Year Ended 31 December 2022
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents amounts chargeable in respect of the sale of goods and services to customers.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Depreciation is provided on tangible fix esidual value, over their expected useful |
ed assets so as to write off the cost or valuation economic life as follows: |
|---|---|
| Asset class | Depreciation method and rate |
| Musical instruments | 15% Reducing balance |
| Uniforms | 25% Reducing balance |
| Furniture & equipment | 10% Reducing balance |
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Hire purchase and leasing
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.
2 Operating (loss)/profit
Operating (loss)/profit is stated after charging:
| Operating (loss)/profit is stated after charging: | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 1,548 | 1,831 |
Page 6
Camborne Town Band Music Society
Notes to the Financial Statements for the Year Ended 31 December 2022
......... continued
3 Tangible fixed assets
| Cost or valuation At 1 January 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 |
Freehold land and buildings £ 60,000 - - - 60,000 60,000 |
Musical instruments £ 47,243 37,830 1,412 39,242 8,001 9,413 |
Uniforms £ 7,408 7,053 89 7,142 266 355 |
Furniture & equipment £ 2,058 1,587 47 1,634 424 471 |
Total £ 116,709 |
|---|---|---|---|---|---|
| 46,470 1,548 |
|||||
| 48,018 | |||||
| 68,691 | |||||
| 70,239 |
4 Company status
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
5 Reserves
| At 1 January 2022 Loss for the year At 31 December 2022 |
Revaluation reserve £ 58,906 - 58,906 |
Profit and loss account £ 137,572 (5,727) 131,845 |
Total £ 196,478 (5,727) |
|---|---|---|---|
| 190,751 |
Page 7
Camborne Town Band Music Society
Detailed Profit and Loss Account for the Year Ended 31 December 2022
| Turnover (analysed below) Cost of sales (analysed below) Gross profit Gross profit (%) Administrative expenses Establishment costs (analysed below) General administrative expenses (analysed below) Depreciation costs (analysed below) Other interest receivable and similar income (analysed below) Amounts written off investments (analysed below) (Loss)/profit on ordinary activities before taxation |
2022 £ £ 30,069 (17,947) 12,122 40.31% (7,370) (8,288) (1,548) (17,206) 112 (755) (5,727) |
2021 £ £ 56,111 (8,848) 47,263 84.23% (6,950) (6,400) (1,831) (15,181) - (651) 31,431 |
2021 £ £ 56,111 (8,848) 47,263 84.23% (6,950) (6,400) (1,831) (15,181) - (651) 31,431 |
|---|---|---|---|
| 47,263 | |||
| 84.23% (15,181) - (651) |
|||
| 31,431 |
This page does not form part of the statutory financial statements Page 8
Camborne Town Band Music Society
Detailed Profit and Loss Account for the Year Ended 31 December 2022
| Turnover Special efforts concerts and functions Subscriptions and donations Sales of CD's books fleeces and ties etc Grants and subsidies Other income Cost of sales Opening stock Purchases Closing stock MD & conductor fees Sundry expenses Establishment costs Hall hire Rent Rates Light, heat and power Licenses & insurance Repairs and renewals General maintenance General administrative expenses Office expenses Printing, postage and stationery Entry fees and subscriptions Sundry expenses Accountancy fees Parking charges Special events Travel, subsistence & accommodation Depreciation costs Depreciation of musical instruments Depreciation of uniforms Depreciation of furniture & equipment |
2022 £ 16,480 6,045 - 5,726 1,818 30,069 6,786 - (5,807) 15,895 1,073 17,947 637 698 81 2,155 2,685 1,088 26 7,370 91 119 678 281 420 60 30 6,609 8,288 1,412 89 47 1,548 |
2021 £ 9,829 4,778 331 38,257 2,916 |
|---|---|---|
| 56,111 | ||
| 6,284 833 (6,786) 7,142 1,375 |
||
| 8,848 | ||
| 650 651 (11) 602 2,270 1,300 1,488 |
||
| 6,950 | ||
| 155 239 1,068 112 420 - 320 4,086 |
||
| 6,400 | ||
| 1,661 118 52 |
||
| 1,831 |
This page does not form part of the statutory financial statements Page 9
Camborne Town Band Music Society
Detailed Profit and Loss Account for the Year Ended 31 December 2022
......... continued
| Other interest receivable and similar income Bank interest receivable Amounts written off investments Provision for deterioration of music |
2022 £ 112 112 755 755 |
2021 £ - |
|---|---|---|
| - | ||
| 651 | ||
| 651 |
This page does not form part of the statutory financial statements Page 10