2023-01-31-accounts - Wild Arts

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ROMAN RIVER MUSIC

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

Charity Registration Number 1158366

ROMAN RIVER MUSIC

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

CONTENTS
	Page
Charity Reference and Administrative Details	1
Trustees' Annual Report	2 - 5
Independent Examiner's Report	6
Statement of Financial Activities	7
Balance Sheet	8
Notes to the Financial Statements	9 – 14

ROMAN RIVER MUSIC

CHARITY REFERENCE AND ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31 JANUARY 2023

Charity registration number	1158366
Trustees	Caroline Compston
	Clare Dobie
	John Kennedy
	Kate May
	Silvia Melchior
	Jill Pellew
	Emma Stenning
Principal address	South Green Farmhouse
	Fingringhoe
	Colchester
	Essex
	CO5 7DP
Independent examiner	Miss J A Richardson FCA FCCA DChA
	32 Award Road
	Wimborne
	Dorset
	BH21 7NT
Bankers	Santander Business Banking
	Bridle Road
	Liverpool
	Merseyside
	L30 4GB
	Lloyds Bank
	PO Box 1000
	BX1 1LT

ROMAN RIVER MUSIC

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 JANUARY 2023

The trustees present their report and the financial statements of the Charity for the year ended 31 January 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ (FRS 102) in preparing their Annual Report and Financial Statements of the Charity.

Status

Roman River Music is a Charitable Incorporated Organisation (CIO), registered charity number 1158366, and is governed by a constitution dated 11 November 2014. Prior to this it was an Unincorporated Charity, registered charity number 1126395.

National Location

The principal address of the Charity is in England, at

South Green Farmhouse, South Green Road, Fingringhoe, Colchester CO5 7DP.

Trustees of the Charity

The trustees who served during the year and up to the date of signing are as follows:

Caroline Compston (appointed 25/8/22) Clare Dobie (appointed 8/2/23) Nigel Humphreys (resigned 31/1/23) Giles Job (resigned 21/6/23) John Kennedy (appointed 8/2/23) Frazer Merrick (resigned 31/1/23) Kate May (appointed 8/2/23) Silvia Melchior (appointed 8/2/23) Jill Pellew (appointed 25/8/22) Emma Stenning (appointed 8/2/23)

Appointment and recruitment of charity trustees

In selecting individuals for appointment as charity trustees, the charity trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

New trustees are recruited by invitation following recommendations from trustees and officers, based on matching candidates’ skills, knowledge, experience and commitment to the current identified needs. New trustees are mentored by experienced members and given access to on-line and/or direct training in appropriate areas.

Objects and activities

The Charity’s objects are to advance, improve, develop and maintain public education in, and appreciation of, the art and science of music in all its aspects by any means the trustees see fit, including through the presentation of live music events.

We aim to promote the best in music and the arts for the enjoyment of all members of the community, and alongside this to promote awareness of the environmental impact of human activity.

To meet these aims, the activities of the Charity typically include:

promoting opera performances with professional singers and small-scale orchestra throughout the UK in unusual venues, including a Summer Opera Festival in Layer Marney, Essex;
putting on musically-based performances, mainly in Colchester and the surrounding area, in particular an annual arts festival with a musical focus in North Essex and the adjoining area of Suffolk. This includes performances by internationally renowned musicians and featuring local artists, including where possible performances in underused rural churches and unusual venues;
the arrangement of in-school music days, particularly in areas of regeneration, including excluded and disadvantaged children;
schools-based projects culminating in public performances;
musically-based activities for local community groups, including ethnic and other minorities.
2 -

ROMAN RIVER MUSIC

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2023

Public benefit statement

The trustees have given due consideration to the Charity Commission’s published guidance on the Public Benefit requirement under the Charities Act 2011, and are satisfied that the Charity’s main activities described above are for the public benefit.

Activity Report

Overview

There were major changes in the structure and scope of the Charity during the year. Following discussions between the trustees of Roman River Music (CIO, 1158366) and Wild Arts (CIO, 1198917) and Orlando Jopling, the Artistic Director of both charities, on 26 July 2022 a Deed of Transfer was signed. This assigned all right, title and interests in Wild Arts Opera from Wild Arts CIO to Roman River Music CIO. Three of the four trustees of Wild Arts CIO joined the board of Roman River Music CIO. The process of dissolution of Wild Arts CIO (1198917) was initiated with the understanding that Roman River Music CIO would at a suitable point change its name to Wild Arts CIO. From this July 2022 date, Roman River Music took responsibility for the remaining activities of the Wild Arts 2022 opera programme.

The following accounts reflect these changes.

Artistic review

The main strands of the Charity’s public activity are summarised under the brands now in use ‘Roman River Music’ and ‘Wild Arts’.

Roman River Music.

Old Library series. Three well attended and received concerts by professional musicians were held in Spring 2022 in the Old Library, Colchester.

Roman River Festival. The Festival comprised 5 major concerts between 28 September and 2 October, one in Wivenhoe and four in Coggeshall. These ranged from solo recital to full orchestra. Again, all were well attended and received popular and critical praise.

Schools programme. Several schools in the Colchester area took part in professionally-led workshops and performances in the summer term. Schools received visits from some of the concert programme professionals.

Community events. There was a series of professionally-led musical events in care homes in North Essex in the summer and autumn.

Wild Arts

Prior to the Deed of Transfer in July 2022, Wild Arts Opera led by Orlando Jopling ran a programme of events in 32 venues throughout England at venues ranging from gardens to small, characterful rural and urban indoor spaces. All involved young professional soloists and a small professional orchestra using specially adapted scores.

Opera evenings. These comprised selections from a wide range of operatic works. 29 of these were held.

Cosi fan Tutte. A staged production of the Mozart opera adapted by Orlando Jopling for 6 singers and 6 musicians. There were 9 performances.

The remaining 2 events in the Wild Arts Opera programme following the Deed of Transfer were taken on board by this charity.

The Wild Arts Opera events were all well attended, and received significant critical praise including an excellent review in a national broadsheet. Financially the tour as a whole came out with a small surplus.

ROMAN RIVER MUSIC

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2023

Management review

The Charity’s core activities are carried out by a small team of appropriately skilled persons, including an artistic director, paid producers and a core team of volunteers. Their work is overseen by the board of trustees. This team is supplemented, for performances and work with schools and other groups, by a larger team of volunteers who give generously of their time and expertise.

Orlando Jopling continued as Artistic Director for Roman River Music CIO throughout the year, including direction of the Wild Arts strand, a role he held for the former Wild Arts CIO.

Charlotte Bazgaou continued her salaried role as producer for Roman River Music activities until the end of October. It was then decided by the new board of trustees that in future production roles should be on a contract basis, as is the production basis for Wild Arts opera activities. Hence Charlotte Bazgaou was declared redundant from the 31 January 2023.

Much of the administrative and financial work of the charity continued to be undertaken by highly qualified volunteers. Work continues to ensure smooth transition to a new team as two long-standing volunteers plan their resignation.

Financial review

Overall, despite the challenges of a year of major changes, the finances of the Charity remain on a viable footing. Reserves are in line with a prudent reserves policy which is designed to ensure that sufficient reserves are in place to meet contractual commitments in the event of unforeseen circumstances, and can only be used in mitigation with Board agreement. The current policy set by the Board calls for ‘accumulated reserves of not less than one third of the average annual expenditure in the preceding three years in which a festival was held’. The outcomes for 2022/23, with free reserves of £62,721, are in line with this policy. The Board reviews the reserves policy annually. In the light of the expanded range of activities of the charity with the adoption of Wild Arts opera and other activities, the Board is keeping under active review this policy and the potential use of these reserves in mitigation of opera-related shortfalls. Risks and uncertainties are reviewed regularly. Current key risks identified are: insufficient or reduced funding from government or public sources, funding and sponsorship; uncertain financial climate; loss of key personnel (staff, trustees and volunteers) and gaps in Board knowledge or experience. Action has been taken to mitigate all identified risks.

The trustees are indebted to the generous support of the Supporters, Patrons and Benefactors of Roman River Music and Wild Arts. We also acknowledge with grateful thanks the following bodies: which made the year’s activities possible: The Augustine Courtauld Trust, The D’Oyly Carte Charitable Trust, Essex Association of Local Councils, Essex Community Foundation (anon.), Essex County Council Hervey Benham Charitable Trust, Schroder Charity Trust, Suffolk Community Fund (Orpheus Fund) and Tesco Bags of Help.

Plans for future periods

The Charity plans to continue its work in accordance with its existing aims and objectives, including:

a spring series of chamber music concerts in the Old Library in central Colchester
a summer tour of the 2023 Opera Evening show (4 singers + string quintet) to over 25 venues (one performance per venue)
the Essex Summer Opera Festival (3 performances of Elixir of Love ) at Layer Marney Tower, and a subsequent tour to 4 further venues / festivals including the Thaxted and Hever Summer Music Festivals.
the Roman River Festival in Colchester & coastal Essex - live concerts and events between 26 September and 1 October 2023
an Education and Community programme in summer and autumn involving schools, local young musicians, community groups and local care homes
concert performances of Handel’s Messiah in December 2023
performances of Bach’s St John Passion Easter 2024
performances of The Magic Flute at the Essex Summer Opera Festival in 2024 with an associated education programme for local schools.

Governance

Trustees come from a variety of public and private sector backgrounds. The range and balance of trustees’ skills and experience are regularly reviewed to ensure full coverage of governance responsibilities. Each trustee takes the lead in

ROMAN RIVER MUSIC

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2023

overseeing an area of the Charity’s activities appropriate to their skills and experience. New trustees receive induction and training in their roles. Following the adoption of Wild Arts activities in July 2022, the Board was expanded by the appointment of three of the four trustees of Wild Arts CIO, one of whom, John Kennedy, became Chair. By the end of the financial year, plans were in hand for four further new appointments and the resignation of three current trustees.

Trustees’ responsibilities

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period.

In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently
observe the methods and principles in the Charity SORP
make judgements and estimates that are reasonable and prudent
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

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 the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

Signed on behalf of the board of trustees

John Kennedy Trustee

Date: 20 October 2023

ROMAN RIVER MUSIC

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ROMAN RIVER MUSIC

Independent Examiner's Report to the Trustees of Roman River Music

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 January 2023 which are set out on pages 7 to 14.

Responsibilities and basis of report

As the Charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Miss J A Richardson FCA FCCA DChA

32 Award Road Wimborne Dorset BH21 7NT

Date: 20 October 2023

ROMAN RIVER MUSIC

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 JANUARY 2023

		2023	2023	2023	2022	2022	2022
	Notes	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		Funds	Funds	Funds	Funds	Funds	Funds
		£	£	£	£	£	£
Income from:
Donations and legacies	2	66,708	24,137	90,845	65,297	4,550	69,847
Charitable activities	3	26,506	2,150	28,656	33,963	-	33,963
		–––––––	–––––––	–––––––	–––––––	–––––––	–––––––
Total income		93,214	26,287	119,501	99,260	4,550	103,810
		–––––––	–––––––	–––––––	–––––––	–––––––	–––––––
Expenditure on:
Raising funds		2,950	-	2,950	3,333	-	3,333
Charitable activities	4	97,055	26,287	123,342	83,010	4,550	87,560
		–––––––	–––––––	–––––––	–––––––	–––––––	–––––––
Total expenditure		100,005	26,287	126,292	86,343	4,550	90,893
		–––––––	–––––––	–––––––	–––––––	–––––––	–––––––
Net movement in funds		(6,791)	-	(6,791)	12,917	-	12,917
Reconciliation of funds:
Total funds brought forward		69,512	-	69,512	56,595	-	56,595
		–––––––	–––––––	–––––––	–––––––	–––––––	–––––––
Total funds carried forward		62,721	-	62,721	69,512	-	69,512
		–––––––	–––––––	–––––––	–––––––	–––––––	–––––––

The notes on pages 9-14 form part of these financial statements.

ROMAN RIVER MUSIC

BALANCE SHEET

AS AT 31 JANUARY 2023

		2023	2022
	Notes	£	£
Current assets
Debtors	9	-	4,819
Cash at bank and in hand		87,833	87,229
		–––––––	–––––––
		87,833	92,048
Creditors: amounts falling due
within one year	10	(25,112)	(22,536)
		–––––––	–––––––
Net assets	12	62,721	69,512
		–––––––	–––––––
Charity funds
Unrestricted funds	12	62,721	69,512
Restricted funds	12	-	-
		–––––––	–––––––
Total funds	12	62,721	69,512
		–––––––	–––––––

The financial statements were approved by the trustees on

Signed on behalf of the trustees

John Kennedy

Trustee

Date:

The notes on pages 9 to 14 form part of these financial statements.

ROMAN RIVER MUSIC

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2023

1 Summary of significant accounting policies

(a) General information and basis of preparation

Roman River Music is a Charitable Incorporated Organisation incorporated in England. The address of the Charity is given in the charity information on page 1 of these financial statements. The nature of the Charity’s operations and principal activities are detailed in the Trustees’ Annual Report on pages 2 - 5.

The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.

The Charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

The financial statements have been prepared to give a ‘true and fair view’ and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the Charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds 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.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The aim and use of the restricted funds are set out in the notes to the financial statements.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

Income from trading activities includes income earned from fundraising events to raise funds for the Charity.

ROMAN RIVER MUSIC

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2023

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Costs of raising funds
Expenditure on charitable activities

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

(e) Debtors and creditors receivable / payable within one year

Debtors and creditors are recorded at transaction price.

(f) Tax

The Charity is exempt from tax on its charitable activities.

(g) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the Charity to be able to continue as a going concern.

(h) Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

(i) Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

10 -

ROMAN RIVER MUSIC

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2023

2 Income from donations and legacies

	2023	2023	2023	2022	2022	2022
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	Funds	Funds	Funds	Funds
	£	£	£	£	£	£
Gifts	51,273	-	51,273	12,808	75	12,883
Tax recovered under Gift Aid	10,435	-	10,435	2,974	-	2,974
Grants	5,000	24,137	29,137	49,515	4,475	53,990
	–––––––	–––––––	–––––––	–––––––	–––––––	–––––––
	66,708	24,137	90,845	65,297	4,550	69,847
	–––––––	–––––––	–––––––	–––––––	–––––––	–––––––

Government grants of £NIL (2022 - £15,015) were received in the year.

3 Income from charitable activities

	2023	2023	2023	2022	2022	2022
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	Funds	Funds	Funds	Funds
	£	£	£	£	£	£
Box office	25,945	-	25,945	25,319	-	25,319
Programme sales	520	-	520	796	-	796
Events and other contributions	-	-	-	2,995	-	2,995
Individual Sponsorship	-	2,150	2,150	4,650	-	4,650
Advertising	-	-	-	125	-	125
Miscellaneous income	41	-	41	78	-	78
	–––––––	–––––––	–––––––	–––––––	–––––––	–––––––
	26,506	2,150	28,656	33,963	-	33,963
	–––––––	–––––––	–––––––	–––––––	–––––––	–––––––

4 Analysis of expenditure on charitable activities

	2023	2023	2023	2022	2022	2022
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	Funds	Funds	Funds	Funds
	£	£	£	£	£	£
Performance costs	28,850	18,287	47,137	40,763	4,550	45,313
Fees	20,812	8,000	28,812	36,184	-	36,184
Grant to Wild Arts Trust	40,900	-	40,900	-	-	-
Administrative expenditure	6,493	-	6,493	6,063	-	6,063
	–––––––	–––––––	–––––––	–––––––	–––––––	–––––––
	97,055	26,287	123,342	83,010	4,550	87,560
	–––––––	–––––––	–––––––	–––––––	–––––––	–––––––

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ROMAN RIVER MUSIC

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2023

5 Independent examiners’ remuneration

Independent examiners’ remuneration amount to an independent examination fee of £800 (2022 - £780) and a fee of £360 (2022 – £540) for other work.

6 Trustees and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration or expenses during the year (2022 - £Nil). Orlando Jopling, as Artistic Director, received a fee of £2,500 (2022 - £7,500). In addition, he received fees in respect of musical performances of £1,613 (2022 - £3,150) and expenses of £Nil (2022 - £Nil).

7 Staff costs and employee benefits

The average monthly number of employees and full-time equivalents (FTE) during the year was as follows.

	2023	2023	2022	2022
	Number	FTE	Number	FTE
Charitable activities & fund-raising	1	0.8	1	0.9
	–––––––	–––––––	–––––––	–––––––
The total staff costs and employee benefits were as follows.
		2023		2022
		£		£
Salaries		20,000		24,026
Defined contribution pension costs		-		156
		–––––––		–––––––
		20,000		24,182
		–––––––		–––––––

No employee received total employee benefits of more than £60,000.

8 Pension and other post-retirements benefits

The Charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £NIL (2022 - £156).

The defined contribution liability is allocated to unrestricted funds – fees.

9 Debtors

Debtors
	2023	2022
	£	£
Other debtors	-	4,819
	–––––––	–––––––

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ROMAN RIVER MUSIC

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2023

10 Creditors: amounts falling due within one year

10	Creditors: amounts falling due within one year
		2023	2022
		£	£
	Deferred income (note 11)	24,222	21,645
	Other creditors	890	891
		–––––––	–––––––
		25,112	22,536
		–––––––	–––––––
11	Deferred income
		2023	2022
		£	£
	At 1 February 2022	21,645	20,870
	Additions during the year	24,222	8,000
	Amount released to income	(21,645)	(7,225)
		–––––––	–––––––
	At 31 January 2023	24,222	21,645
		–––––––	–––––––

Income is recognised at fair value when the Charity has entitlement after any performance conditions have been met.

12 Fund reconciliation

Unrestricted funds

Unrestricted funds
	Balance at	Income		Expenditure	Balance at
	01.02.22				31.01.23
	£		£	£	£
Unrestricted	69,512	93,214		100,005	62,721
	–––––––	–––––––		–––––––	–––––––
Restricted funds
	Balance at	Income		Expenditure	Balance at
	01.02.22				31.01.23
	£	£		£	£
The Augustine Courtauld Trust	-	1,000		1,000	-
The D’Oyly Carte Charitable Trust	-	3,000		3,000	-
Essex Assoc. of Local Councils	-	2,145		2,145	-
Essex Community Foundation - anon	-	5,000		5,000	-
Essex County Council	-	4,442		4,442	-
Finzi Trust	-	1,000		1,000	-
Hervey Benham Charitable Trust	-	3,500		3,500	-
Schroder Charity Trust	-	3,000		3,000	-
Tesco Bags of Help	-	1,000		1,000	-
Sundry donations	-	2,200		2,200	-
	–––––––	–––––––		–––––––	–––––––
Total restricted funds	-	26,287		26,287	-
	–––––––	–––––––		–––––––	–––––––

13 -

ROMAN RIVER MUSIC

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2023

Funders contributed funds to the implementation and development of the Charity’s year-round Education and Community programme with children, young people and other community groups. Covid restrictions in 2021 limited the work that could realistically be done with schools and some of this funding was, with funders’ agreement, treated as deferred income and utilised in this financial year.

13 Analysis of net assets between funds

	2023	2023	2023	2022	2022	2022
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	Funds	Funds	Funds	Funds
	£	£	£	£	£	£
Cash	63,611	24,222	87,833	68,584	18,645	87,229
Debtors	-	-	-	4,819	-	4,819
Creditors	(890)	(24,222)	(25,112)	(3,891)	(18,645)	(22,536)
	–––––––	–––––––	–––––––	–––––––	–––––––	–––––––
	62,721	-	62,721	69,512	-	69,512
	–––––––	–––––––	–––––––	–––––––	–––––––	–––––––

14 Related party transactions

There have been no transactions with related parties in the year.

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