Charity registration number 1147922 Company reglstratlon number 08116295 (England and Walasl THE ALOUD CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
THE ALOUD CHARITY CONTENTS Page Trustees. report Statement of trustees, responsibilities Independenl examiner's report Stslemenl of financial activities B818nce sheet Notes lo the financial slalemenls 9-19
THE ALOUD CHARITY TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The trustees present their annual report and financial statements for the year ended 31 August 2024. The financial statements have been prepared in accordan with thè accounting policies set OLJt in note 1 to the financial statements and comply with the charitls governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Rècommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" Oble¢tlves and a¢tlvltles The Aloud Charity's mission is to transform lives together through the power of song. Our vision is to be the sought after, relevant partner for young people in Wales, providing life changing experiences through the power of group singing. We want to be a charity that is synonymous w((h song and making a difference to young people's lives. This might mean different things for different people and will be realised in many ways. Whether developing the confidence of an individual lo apply for college, supporting entry to a career in the creative and cultural industries, giving the opportunity lo sing on a world stage, or simply being a place of respite for two hours a week, The Aloud Charity transforms lives. Bul we don't just do this in weekly sessions. Our performance opportunities lake our work lo a wider audience and through this we can provide a lime of solace, offer spine-tingling experiences or give family and friends something lo be proud of. For us, this is about more than just singing, it is about the power of song lo connect with people whether as singers, session leaders, writers and composers, or those who experience il in person or online. Place young people al the heart of everything that we do Create the highest quality singing experience DeliverA¢livily that refle¢ls Wales in the 21st century Embed our work in communities Enrich young people's lives Raise the profile of The Aloud Experience Build on a sustainable business model Root ourselves in Ihe Land of Song To achieve these aims, Moud continues to work on a long-term sustainable strategy that will deliver outstanding work with young people in communities across Wales, underpinned by financial stability, good governance and the highest artistic standards. Achievements and performance During Ihtr first half of the year, Aloud operated a full programme of work with Only Boys Aloud choirs meeting in 11 locations throughout Wales, Only Gids Aloud operating regionally in south and west Wales, and ttr 2024 Only Kids Aloud cohort singing across Wales. This induded performing three regional Christmas concerts and Only Kids Aloud perfomiing at the Brangwyn Hall, Swansea with Only Men Aoud. In February it began to become clear that the ¢ashflow situation was tenuous. With a series of unwccessful funding applications, difficult decisions had to be made. In an emergency meeting of the TrLJStees on 13 March 2024, a decision was made to pause all free activity and reduce the staff team, using reserves lo enable the charity to regroup, refocus and remodel the business to ensure future sustainability. During this time, Only Kids Aloud and Academi, as paid projects, continued to run.
THE ALOUD CHARITY TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 Financial review The longer-lerm impact of Covid-19, alongside the ¢osl-of-living Crisis are the princip81 risks to the futu delivery of the charity's aims and objectives. The Trustees have been, and continue lo be, mindful of this. The 18St four ysars h8ve s8en rapidly changing scenarios that have h8d a raft of implications both in terms of financial 8nd non-financial irnpact. The charity s fo¢us has been lo remain flexible and fleet of foot to respond lo each new ontexl and challenge, ensuring that our b&ngfi¢iaries still engage with us and be impacted positively by our a¢tivity. During this year, we have seen a significant drop in our success rate to Trusts and Foundations. This aligns with experiences across the charity and arts sectors, but we need to be mindful of this going forward. Our de¢ision to pause activity and refresh the income generation strategy reflects this Change. This should ensure the organisation is more resilient, increasing opportunities to generate donations from the wider publiG and is less reliant on Trusts and Foundations as an income stream in fLJtLJre years. Financial position at year end and Reserves position.. The financial position for Ihe year to 31 August 2024 shows a carried fotward unrestricted balance of £33,240. 12023.. £143,362). This unreslricled deficit for Ihe year was £110,122 whith has arisen largely due to the reduction in anticipated success rate for funding from Trusts and Foundations. The level of free reserves at the year*nd amounted to £32,215 (excluding designated funds). Reserves are needed to secure the long-term sustainability of the charity's regular activities. Due to unforeseen financial difficulties in this financial year, Trustees made the decision to ulilise these to ensure the future of the charity. In doing so, they agreed that il was their ambition to re-build these over the course of the next few years, revising the reserves policy accordingly to read.. "Il is the airn of the Trustees to continue lo secure and strengthen the charity's position by building the level of free reserves to achieve a minimum position of 3 months of core expenditure al each year end. This policy will lake lime to come to fruition in line with our forward planning process but is necessary lo ensure the charity is in a secure Pla if an unforeseen event were to take place. Trustees will rllonitor the current financial position through the cashflow lo ensure that il is able lo meet its obligations in the short to medium term while the reserves build lo an acceptable level Going concern.. After making appropriate enquiries and considering the impact of the curn1 economic Climate, the Trustees have a 8$onable expe¢t81ion th81 the company has adequate resources lo continue in operational existen¢& for the foresee8ble future. For this reason, they continue lo adopt the going ¢on¢ern basis in preparing the financial slal8m8nls. Furth&r details rtrgarding the adoption of the going conG&rn basis can be found in the Accounting Poli¢ies. Plans for future periods During the pause in activity, the executive undertook extensive research, consultation and planning lo define a new approach lo delivery. In 2024125 this rneans piloting a new model in southeast Wales, rernaining true to our mission, looking al increasing opportunities for InMe generation, and living our values of Exc&llen¢&, In¢lusiv&, Learning and Passion. In 2024125 this will mean.. Focussing Only Boys Aloud in 5 key areas of southeast Wales. Laun¢hing Aloud Voices- a paid mixed voi¢e Choir programme for 25-year-Olds. Relying more heavily on volunteers to support the weekly running of our ¢hoirs, local fundraising and local concert opportunities. Working more closely with local communltles, who can open doors for performance opportunities, involve us at community events and connecl us to business who might be able to offer choir sponsorship. Working with experienced frèelancors on short-lemi contracts to support gaps in reSoUrs, such as with social media, campaigns management and event delivery.
THE ALOUD CHARITY TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 Thinking more commercially about the products we have and how we can use these to generate income. Evaluating the model and looking al ways this might be able to be rolled out more widely if successful. This, combined with an associated income generation plan, which aims to diversify income streams, will make oud more resilient longer-terrll. Trustees of the charity are very aware that these are challenging limes in terms of the fundraising landscape. The difficult decisions during 202312024 were taken with this in mind and were necessary lo put the organisation in a stable financial posttion for the future. Structure, governance and management The company is constituted under Artides of Association adopted by special resolution on 31 March 2022 and is a company limrted by guarantee and registered charity number 1147922. (The original Memorandum of Association was dated 22 June 20121. The management of the company is the rtrsponsibility of the Ttuslees who a elected and ctropled under the terms of the Articles of Association. Trustees are recruited through an open process. with positions advertised and applications encouoged from as broad a ¢ross-str¢tion as possible lo ensu a good spread of skills, knowledge and experience. During 2023124 one Trustee stepped down due lo the pressure of other commitments, two stepped down at the end of their term, and two new Trustees were appointed. One of the Trustees is an alumnus of Only Boys Aloud. The Board of TrLJStees has overall responsibility for ensuring that the company has appropriate systems of controls, financial and othetwise. The Chief Executive Officer advises the Board on strategic issues and manages day-to-day operations within the parameters of the Scheme of Delegab'on. The Chief Executive Officer meets with the chair monthly, and with the staff team on a fortnightly basis. An informal meeting of staff and Trustees took Pla in December 2023. Trustees met 5 times during this year- 4 times to deal with its day-to4ay business and an emergency board meeting lo decide on an approach to the cashflow position. A Planning Group together with Income Generation and Artistic Task and Finish groups were established to specifically support the team to develop the new business model. A Cashflow Committee was established to monitor the cashflow situation monthly, prowding assuran to Trustees that risk was being monitored and managed. The charity's Risk Register is reviewed every six months by Trustees, with the Chief Executive Officer reporting by exception at each board meeting on areas exceeding toleran. The register was reviewed al the board meeting in September 2023 and March 2024.
THE ALOUD CHARITY TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 Reference and admlnl¥lrntl¥e details Registered eharfty number 1147922 Regl$t•rod company number 08116296 Board of trustee$ A S Cartton- Resigned 2110912023 J Williams- Resigned 2510912023 D G Pugh- ReSned 21109123 M J Burton A F Jones l Rees JBary BHam L Treg81e H Peterson- Appointed 1011012023. Resigned 0810512024 R Sweetrnan-Appointed 1011012023 Key management porsonhel Carys Wynn&Morgan - Chief Executive Officer Hannah Beadsworth- Development Manager Craig Yate5- Creative Director Maria Eide- Finance & Oper8fjons Manager- Resigned December 2023 Jarr8d Jones- Finance & Perations Manager- Appolnled December 2023 Rtglstered offlc• Unit 1 Regents Cotsrt Nettlefold Road Csrdiff CF24 5JQ Independent examlnern A2ets Audit Servic85 Independent ExamlneTS Ty Derw, Lime Tree Court Cardrfl Gate BunesS Park Cardtff CF23 8AB Bankers HSBC Bank pl¢ 15 Churchill Way Cardrfr GFIO 2HD The trustees. report was approved by thè Board of Trustees. Truste• IKk Ree5 Dated.. 14. iy. L+
THE ALOUD CHARITY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 The trustees, who are also the directors of The Aloud Charity for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting Praclicel. Company Law requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of reSoUrs, including the income and expenditure, of the charitable company for that year. In preparing these financial s181ements, the trustee5 are required lo.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent", and prepare the financial ststgmonts on the going con¢grn basis unless it is inappropriate to presum8 that the charity will Continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the Maintenan and integrity of the charity and financial information included on the ¢harily's website. Legislation in the United Kingdom goveming th& preparation and dissemination of financial ststements may diffor from11$18t1On in other jurisdictions.
THE ALOUD CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THEALOUD CHARITY I report on the financial slalements of the charty for the year ended 31 August 2024, which are set out on pages 71019. Respective responsibilities of trustees and examiner The charity's trustees. who are also the directDrs of The 0d Charity for the purposes of Mpary law, are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 Ithe 2011 Acll and that an independent examination is needed. The charity's gross income exceeded £250,000 and l am qualified to undertake the examination being a qualified member of The Inslilule of Chartered Accountants In England and Wales. Having satisfied myself that the charity is not subject to audrfc under company law and is eligible for independent examination, il Is my responsibility to-. examine the financial statements under section 145 of the 2011 Act., to follow the procedures laid down in the general Directions given by the Charity Commission under section 14515llbl of the 2011 Act., and liiil lo stsle whether particular matters have come to my attention. Basis of independent examinerfs report My examination was carried out in accordan¢e ¥Mth the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the ¢harity and a comparison of the financial statements presented with those records. 11 also includes consideration of any unusual items or disdosures in the financial statements, and seeking explanations from you as trustees ConrnIng any such matters. The procedures undertaken do not provide all the eviden that would be required in an audrf( and consequently no opinion 15 given as lo whether the financial statements present a 'lrue and fair view, and the report is limited to those matters sel out in the next slalement. In connection wth my examination, no matter has come to my attention.. lal which gives me reasonable Cause lo believe that in any material respect the requirements.. to keep accounting records in accordance with section 386 of the Companies Act 2006,. and (ill to prepare financial slalements which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice. Accounting and Reporting by Charities", have not been met or Ibl lo which, in my opinion, attention should be drawn in order lo enable a proper understsnding of I financial statements to be reached. Andraw HovMIIs Azels Audit Services Ty Dem. Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB United Kingdom B" Janu8ry 2025 Dated..
THE ALOUD CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Donations and legacies Charitable activities Other trading activities Investments 77,749 254,970 77,749 319,237 78,551 316,134 78,551 465,692 64,267 149,558 32,095 2,105 32,095 2,105 52,087 1,208 52,087 1,208 Total income 366,919 64,267 431,186 447,980 149,558 597,538 Charitable activities 477,041 98,361 575,402 477,172 150,388 627,560 Net expenditure for the yearl Net movement in funds 1110,1221 134,0941 1144.2161 129,1921 18301 130.0221 Fund balances al 1 September 2023 143,362 34,D94 177,456 172,554 34,924 207,478 Fund balancès at 31 August 2024 33,240 33,240 143,362 34,094 177,456 The statement of financial activities inclLJdes all gains and losses recognised in the year. l income and expenditure derive from Continuing aclivilies. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
THE ALOUD CHARITY BALANCE SHEET ASAT31AUGUST2024 2024 2023 Note5 Flxed aBsets Intangible 8ssets Tangible assets 12 13 321 704 fj,025 3.469 1,025 4,494 Current assets Debtors Cash sl bank and in hand 14 21.176 220.980 20,473 240,747 242,156 201.220 Cr•dltotrs: amounts falllng due wlthln one yoar 45 1209,9411 188,2581 Nel current assets 32.215 172,962 Total assets less cumint Il•bllltle 33,240 177.456 Income fvnds Restricted funds 18 34,C04 Designated fund5 General unrestricted fvnds 19 1,025 32,215 33.058 110.304 33,240 143.362 33,240 177,456 The company is entitled lo the exemption from the 8udil requirement contained in $8dion 477 of the Companie$ A¢t 2006, the year ended 31 August 2024. The direclcxs aiJ(nowledge Ih8ir r8spon5ibililies for cOMp.n9 with the requirements of tho Compani8$ Act 2006 th respect to accountirig records and the preparation of financial Ststements. Tha rnernbe hav8 not raquir&J the company lo obtain an audit of tts financial statements for the year in question in accordance with sectton 476. These financral statÈmerFts have been préparad In 8trdance wrth the provlslon$ appN¢abl8 to companies subject to the small companies regim8. lfl 11. L4- The fln8ncl81 statements were 8pproved by the Trustees M ......................... Trustso Iw Ree5 Company r•gl$lratlon number 08116295
THE ALOUD CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies Charity information The Aloud Charity is a private company limited by guarantee incorporated in England and Wales. The registered office is Ty Derw Lime Tree Court, Cardiff Gate Business Park, Cardiff CF23 8AB. 1.1 Accountlng convèntlon The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" The charity is a Put)lic Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Slalement of Cash Flows. The financial statements are prepared in sterfing, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going Concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adeqLJate resour8 to continue in operational existence for the foreseeable future. ThLJS Ihe Irustees continue lo adopl the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use al the discretion of the trustees in furtherance of their charitable objectives. Designated funds Comprise funds which have been set aside at th& discretion of the ttuslees for SFEcific purposes. The purposes and uses of th8 designated funds are sel out in the notes lo the financial slalements. Restricted funds are subject to specific conditions by donors as to how they may be used. The purtK)ses and uses of the restricted ftjnds are set out in the notes to the financial statements. 1.4 Incoming resource$ Income is recognised when the charity is legally enlilled lo it after any performance conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognised on reipl. Other donations are recognised once the charity has been notified of the donation, unless performance ¢ondilion5 require deferral of the amount. Sponsorship, earned in¢ome and avenl income is re¢ognisod in Ihg poriod lo whi¢h il rtrlates. Sponsorship incom8 and evènt income r8cèived in advance is d8farr8d and raleased in th8 financial yèar to which it relates. In¢ome from grants, trusts and foundations is recognised when the charity has entitlement to the funds, any performance conditions altached to the granls have been met, it is probable Ihat the income will be received and the amount can be measured reliably. Granl income received in advance is deferred and released in the financial year to which it relates.
THE ALOUD CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies IContinued} 1.5 Resources expended Expenditure is recognised once there is a ltrgal or constructive obligation lo make a payment lo a third paty, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities includes all costs relating to the furtherance of the charitys objectives as stated in the trustees report and their associated support costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Support costs have been allocated between governance costs and other support. Govemance costs comprise all costs involving public accounlabilily of the charity and its Complian with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a tAsis consislenl with the use of reSoUrs. 1.6 Intangible fixed a55ets other than goodwill Intangible assets relate to arrangements which have been valued on a time cost basis. The arrangements are being amortised over their estimated useful life being a period of ten years on a straight line basis. Arrangements 10°/o Straight line basis 1.7 Tangible fixed assets Tangible fixed assets are initially rlleasured al cost and subsequently measured al cost 01 valuation, nel of depreciation and any irnpairmenl10sses. Depre¢iation is recognised so as to write off the Cost or valuation of assets less their residual values over their useful livgs on the following bases.. Computer and musi¢ equipment 33.33 /0 Straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.8 Impaimient of fixed assets At each reporting end date, the charity reviews the carrying amounts of ils tangible and intangible assets lo dglermine whether there is any indication that those assets have suffered an impairment loss. If any such indi¢ation exists, Ihtr recoverable amount of the asset is eslimaled in order lo determine the extent of the impairment loss lif any). 1.9 Cash and cash &qulvalènts Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 10-
THE ALOUD CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies IContinued} 1.10 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basi¢ Financial Instmmenls, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charity's b8lan¢e sheet when the Charity becomes party to the contra¢tual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when there is a legally enforceable righl to set off Ihè recognised amounis and there is an intention to settle on a net basis or lo realise the asset and settle the liability simultaneoLJsIy. Basi¢ financial assets Basic financial assets, which include debtors and cash and bank balances, are inilially measLId at transaction pri induding transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measLJred at the present value of the future receipts discounled at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Derecognitlon of flnan¢lal assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Baslc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognised al transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or ServIS that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method. Dgrgcognition of financial liabilities Financial liabilities are derecognised when the charity s contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday enlillement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to lerminale the ernployrnenl of an employee or lo provide lerminalion benefits. 1.12 Retirement benefits Payments lo defined contribution retirement benefit schemes a charged as an expense as they fall due. 1.13 Taxation As a registed Charity, The Aloud Ch8rily is entitled lo the exemption from tsxalion in respect of income and c¥pil81 gains received with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Ch8rge8ble Gains Act 1992 to the extent th8t thtrse are applied lo rts charitable objects purposes only.
THE ALOUD CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Critical accounting estimates and judgements In the application ol the charity's accounting policies, the trustees are required to make jLJdgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The ests'mates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and fvture periods. Donatlons and legacl8s 2024 2023 Donations and sponsorship 77.749 78,551 Charitablè activitiès 2024 2023 Eamed income Grants, trusts and foundations 28,393 290,844 50.800 414,892 319,237 465,692 Analysis by fund Unrestricted funds Restricted funds 254,970 64,267 316,134 149,558 319,237 465,692 Other trading activities Unrestricted Unrestricted funds funds 2024 2023 Merchandise Sponsorship 2,695 29,400 8,198 43,889 Other trading activities 32,095 52,087 12-
THE ALOUD CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Investments Unr8strictèd Unrèstrictèd funds funds 2024 2023 Inter8St r8cèivable 2,105 1,208 7 Charltabla actlvltlès 2024 2023 Staff costs D8pr8ciation Artistic and performance costs 331,065 3,469 188,903 309.849 9,189 263,803 523,437 582,841 Shara of support costs (seè notè81 Share of governan costs Isee note81 48,830 3,135 42,719 2,000 575,402 627,560 Analysis by fvnd unstrICted funds Restricted funds 477,041 98,361 477,172 150,388 575,402 627,560 13-
THE ALOUD CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Trustees No trustee received remLJneration during the current or prior year. No trustees were reimbursed for expenses during the current or prior year. 10 Employees Number ofemployees The average monthly number of employees during the year w8S'. 2024 Number 2023 Number Artistic Administrative Employment Costs 2024 2023 Wages and salaries Social security costs Other pension costs 295,243 27,295 8,527 275,786 25,651 8,412 331,065 309,849 Key management personnel The key management personnel of the charity which are noted in Ihe Trustees Report received benefits (gross salary, employers national insurance and employers pension contribulionsl lotalling £180,21612023.' £167,7671. There are S key management personnel for the current year12023'. 41. Employees earning > £60.000 There were no employees whose annual remuneration was £60,000 or more during the current or prior year. 11 Taxation The charity is exempl from tsx on income and gains falling within section 505 of th8 Taxes Act 1988 or s8clion 252 of the Taxalionof Chargeable Gains Act 1992 to the extent that these ar8 applied lo ils charitable objects. 15-
THE ALOUD CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 12 Intangible fixed assets Arrangement8 Cost At 1 September 2023 and 31 August 2024 12,500 Amortlsatlon and Impalrment At 1 September 2023 Amortisation charged for the year 11,475 704 At 31 August 2024 12,179 Carrylng amount At 31 August 2024 321 At 31 August 2023 1,025 13 Tangible fixed assets Cornputer and rnusic equipment Cost At 1 September 2023 13,255 At 31 August 2024 13,255 Depreciation and impairment At 1 September 2023 Depreciation Charged in the year 9,786 2,765 At 31 August 2024 12,551 Carrylng amount At 31 August 2024 704 At 31 August 2023 3,469 14 D&btors 2024 2023 Amounts falling due within one year- Trade debtors Other debtors Prepayments and accrued income 14,760 1,442 4,974 4,675 8,651 7,147 21,176 20,473 16-
THE ALOUD CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 15 Creditors: amounts falling due within one year 2024 2023 Not¢s Other taxation and social security Dèferred income Trade creditors Accruals and deferred income 6,165 193,694 2,707 7,375 16 80,613 2,045 5,600 209,941 88,258 16 D&f8rr8d Incom 2024 2023 Arising from grants Other deferred income 149,133 44,561 80,613 193,694 80,613 Deferred inwme is included in the financial slalements as follows.. 2024 2023 Balance brought fOrnard Income received In¢ome released 80,613 432,083 1319,0021 135,042 415.263 1469,6921 Balance carried forward 193,694 80,613 Deferred InMe comprises grant, sponsorship and event income which relates to future financial periods. 17 Retirement benefit schemes Deflnèd contrlbutlon $chèmo$ The charity operales a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. Thg ¢hargg to profit or loss in respg¢t of dgfinèd ¢ontribulion schemes was £8,52712023- £8,412). There were no amounts outstsnding in the current or prior year. 17-
THE ALOUD CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 18 Restricted funds The income funds of the charity indude restricted funds comprising the following unexpended balanS of donations and grants held on trust for spècific purposes.. Movement in funds InGoming Re$our¢es Balance at resources expended 1 September 2023 Movement in funds Incoming ResoUe$ resources expended Balance a¢ 1 Septembpr 2022 Balance al 31 August 2024 Only Kids Aloud Only Kids Aloud Disney 23 Academi AITC Japan Arts Council Job Prolsclion Fund 27,474 53,089 153,0891 27,474 127,4741 830 6,620 14,543 44,899 9,027 28,000 115,3731 144,8991 19,0271 128,0001 6,400 39,950 16,4001 146,5701 6,620 17.917 117.9171 34,924 149,558 1150,3881 34,094 64,267 198,3611 Only Kids Aloud.. A pan-wales choral iniliative in partnership with the Hodge Foundation. The Hodge Foundation provided £40,000 of funding in the year with parents providing the Ihe additional funding required. Only Klds Aloud DSsn8y 23.. The funding was from parents contributions to the trip to Disney in 2023. Academi: The funding included £25,000 from Mosawi, £6,500 from Festival InterltIqUe de Loreint, £12,300 academi fees from members with balan being made up of sales of merchandise Crowdfunder.. Album 2022: The cost of producing a CD was funding by Crowdfunding. AITC.. This funding is forAloud in the classroom. Japan.. This funding enabled a project where choir members met with choirs in Japan for a cultural exchange, through music. Arts Council Job Protection Fund- This funding was to cover salary costs. 18-
THE ALOUD CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 19 Designated funds The income funds of the charity indude the following designated funds which have been set aside out of Ljnrestricted funds by the trustees for specific purposes.. Movement in funds In¢orning Resoue$ resources expended Balance a¢ 1 Septembpr 2022 Tran$fers Balance al 1 September 2023 Tran$fers Balance al 31 August 2024 The Aloud Girl's Choir Only Boys Aloud Wesl Bfftnd and Identity Work Intangible and Tangible Fixed Assets 10,000 10,000 110,0001 10,000 8,424 15,1521 13,272 113,2721 5,000 5,000 15,0001 8,732 13,9461 4,786 13,7611 1,025 33,732 8,424 15,1521 13,9461 33,058 132,0331 1,025 The Aloud Girl's Choir Funds designated lo allow us lo commit lo a program for the Girls, choir for the whole academi¢ year and not just the pilot pgriod. Only Boys Aloud West Funds designated to allow us to Commit to a program for the OBA West choirs for the whole a¢ademi¢ year and not just the pilot period. Brand and Identlty Work Funds designated to commence a project around our brand wth focus on increasing diversity and accessibility. Intangible and Tangible Fixed Assets Fund designated in relation to the net book value of the charity's unrestricted intangible and largible fixed assets. 20 Company ststu$ The charity is a company limited by guarantee. The members of the company are the Iruslees named in the report. In the event of the company being wound up, the liabilty in respect of the guarantee is lirn ited lo £1 per member of the company. 21 Related party transactions During the year 5 12023.. 21 trustees donated a total of £1,232 to the charity12023'. £5,020). ThetE were no amounts outstanding at the year end12023'. £nill- 19-