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 2023
Keith Lyons. Taxation 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 Mr Jonathan Watson Company secretary Mr R Cook Registered office The Band Room Camborne Community Centre South Terrace Camborne Cornwall TR14 8SU Accountants Keith Lyons. Taxation 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 2023
The directors present their report and the unaudited financial statements for the year ended 31 December 2023.
Directors of the company
The directors who held office during the year were as follows:
Mrs S Brown Mr M Julian Miss A Retallack Miss M Smith Mr D Gifford Mr Vivian Hawkey Mr Jonathan Watson (appointed 26 February 2023)
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 16 May 2024 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 2023
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 2023 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. Taxation Accountants. Suite 1B Gateway Business Centre Barncoose Redruth TR15 3RQ 16 May 2024
Page 3
Camborne Town Band Music Society
Profit and Loss Account for the Year Ended 31 December 2023
| Note Turnover Cost of sales Gross profit Administrative expenses Operating loss 2 Other interest receivable and similar income Amounts written off investments Loss on ordinary activities before taxation Loss for the financial year 5 |
2023 £ 37,819 (23,521) 14,298 (29,415) (15,117) 424 (678) (15,371) (15,371) |
2022 £ 30,069 (17,947) |
|---|---|---|
| 12,122 (17,206) |
||
| (5,084) 112 (755) |
||
| (5,727) | ||
| (5,727) |
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 2023
| 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 |
2023 £ 67,383 10,553 97,444 107,997 175,380 58,906 116,474 175,380 |
2022 £ 68,691 |
|---|---|---|
| 8,827 113,233 |
||
| 122,060 | ||
| 190,751 | ||
| 58,906 131,845 |
||
| 190,751 |
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 2023 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 16 May 2024 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 2023
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
Operating loss is stated after charging:
| Operating loss is stated after charging: | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 1,308 | 1,548 |
Page 6
Camborne Town Band Music Society
Notes to the Financial Statements for the Year Ended 31 December 2023
......... continued
3 Tangible fixed assets
| Cost or valuation At 1 January 2023 Depreciation At 1 January 2023 Charge for the year At 31 December 2023 Net book value At 31 December 2023 At 31 December 2022 |
Freehold land and buildings £ 60,000 - - - 60,000 60,000 |
Musical instruments £ 47,243 39,242 1,200 40,442 6,801 8,001 |
Uniforms £ 7,408 7,142 66 7,208 200 266 |
Furniture & equipment £ 2,058 1,634 42 1,676 382 424 |
Total £ 116,709 |
|---|---|---|---|---|---|
| 48,018 1,308 |
|||||
| 49,326 | |||||
| 67,383 | |||||
| 68,691 |
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 2023 Loss for the year At 31 December 2023 |
Revaluation reserve £ 58,906 - 58,906 |
Profit and loss account £ 131,845 (15,371) 116,474 |
Total £ 190,751 (15,371) |
|---|---|---|---|
| 175,380 |
Page 7
Camborne Town Band Music Society
Detailed Profit and Loss Account for the Year Ended 31 December 2023
| 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 on ordinary activities before taxation |
2023 £ £ 37,819 (23,521) 14,298 37.81% (10,531) (17,576) (1,308) (29,415) 424 (678) (15,371) |
2022 £ £ 30,069 (17,947) 12,122 40.31% (7,370) (8,288) (1,548) (17,206) 112 (755) (5,727) |
2022 £ £ 30,069 (17,947) 12,122 40.31% (7,370) (8,288) (1,548) (17,206) 112 (755) (5,727) |
|---|---|---|---|
| 12,122 | |||
| 40.31% (17,206) 112 (755) |
|||
| (5,727) |
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 2023
| 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 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 |
2023 £ 23,109 9,101 232 1,700 3,677 37,819 5,807 (7,840) 24,387 1,167 23,521 409 1,225 37 4,420 1,904 1,759 777 10,531 297 348 1,764 517 420 30 245 13,955 17,576 1,200 66 42 1,308 |
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 |
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 2023
......... continued
| Other interest receivable and similar income Bank interest receivable Amounts written off investments Provision for deterioration of music |
2023 £ 424 424 678 678 |
2022 £ 112 |
|---|---|---|
| 112 | ||
| 755 | ||
| 755 |
This page does not form part of the statutory financial statements Page 10