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Registered Charity in England and Wales 1,159,359 A Charitable Incorporated Organisation
Annual Report and Accounts 2021-2022
2021-2022 |
|
|---|---|
| Summary | 2 |
| Objectives for the 2021-2022 Financial Year | 2 |
| Activities and Achievements | 3 |
| Future Aims and Objectives, Challenges and Opportunities | 6 |
| Financial Review | 7 |
| Public Beneft | 9 |
| Administration and governance | 9 |
| Trustees serving during the year: | 11 |
| Accounts Statement | 12 |
| Reserves Policy | 14 |
| Declaration | 21 |
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The trustees of the UniBrass Foundation are pleased to present the Trustees Annual Report for the 2021/2022 Financial Year, which has been prepared to meet the requirements of the Charity Commission.
Charitable Aims
As set out in its constitution, the charity seeks:
“to advance, improve, develop and maintain public education in, and appreciation of, the art of the brass band movement, primarily but not exclusively by organising an annual University Brass Band Championship of Great Britain and Northern Ireland.”
Summary
For the first part of the 2021/2022 Financial Year (FY), in-person brass band activities remained paused due to the COVID-19 pandemic. However, through careful planning, the UniBrass Foundation has emerged stronger from the pandemic, supporting brass banding at the university level with two in-person contests this FY, and launching Band Camp, the charity’s brass band summer school. The charity continues to hold a financially strong position. Both income and expenditure have seen increases due to the expansion of the charity’s activities. The charity successfully sought external funding to support Band Camp 2021 and the Artist in Association scheme, and continues to grow its financial contingency through the small surpluses generated at some of its events. Going forward, the charity is looking forward to presenting the Artist in Association scheme in summer 2022, Band Camp 2022, and is planning UniBrass 2023 and Band Camp 2023 in new host venues.
Objectives for the 2021-2022 Financial Year
Continuing the objectives from the last Financial Year, the Board of Trustees set out three priority objectives to guide the activities of the UniBrass Foundation this year, centred around the charity’s long-term sustainability and growth, so that in future years it will remain able to support university banding.
The first objective was to continue on a roadmap towards a funding model that would support UniBrass employing staff members, primarily by ramping up the size and cost of projects (in particular funded projects). Whilst the pandemic delayed progress with some large projects, the successful launch of Arts Council England (ACE) funded Band Camp, alongside a Financial Year in which two in-person contests were held is a great success.
The second objective was to diversify our income through a diverse portfolio of revenue-generating projects and events. The charity runs projects with a range of funding models, two projects have been funded in part by ACE project grants, whilst the remainder remain self-sufficient, at least covering their costs through ticket revenue and supplemented by selling merchandise.
Finally, the trustees set an objective to professionalise the charity’s network, primarily by working to improve its reputation in the arts sector, and brass band movement. Leading the brass band movement’s return from lockdown has raised the profile of the charity greatly.
Trustees Annual Report and Accounts 2021/2022
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Activities and Achievements
The UniBrass Championships is an event proudly run by university students, for students, and the trustees wish to thank the many hours of hard work by the 2022 Organising Committee organising this event under a reduced timescale, and for the 2021 Organising Committee organising an event under the shadow of COVID, and setbacks associated with it. The charity also extends their thanks once again to a large number of individuals who volunteered their time to aid the Organising Committee with the preparation and exceptionally smooth running of the UniBrass Championships contest days. Their roles were diverse, from guiding visiting bands through an unfamiliar campus setting, chaperoning adjudicators, to the stewarding of concert halls, and overall providing a warm and friendly welcome to attendees.
2021 Contest (online & virtual)
After a challenging period of lockdown, the 2021 UniBrass Championships took place on 26th June 2021, just as lockdown restrictions relaxed to allow such events to take place, and this was, to the trustees knowledge, the first brass band contest to take place in the UK in person after lockdown restrictions were put in place in March 2020. Eight university brass bands participated in this year’s in person championships, with 222 individual performers, all bands performing in a single “in person” section. In a UniBrass first, the contest was held outdoors on the
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Student’s Union Concourse to minimise the risk of COVID-19 transmission, which also benefited the public as a free public performance. Each participating band received bespoke critique and advice from professional and independent adjudicators, assisting bands to improve and develop their artistic performances year on year. To support bands unable to attend in-person, the 2021 Contest also offered bands the opportunity to submit a recording of a performance to the “Online” section, which was an option chosen by one band, making this a hybrid contest, and in-turn, the contest was live-streamed online by BrassPass to paying subscribers.
2022 Contest
The UniBrass 2022 Championships was held on 5th February 2022 at the University of Sheffield, with the Trophy section in the Octagon Centre, and the Shield section in the Drama Studio, a return to the usual format of the UniBrass contest after COVID. Twenty-one university brass bands participated in this year’s championships from across the UK, with over 720 individual participants. Each participating band received bespoke critique and advice from professional and independent adjudicators, assisting bands to improve and develop their artistic performances year on year. For the first time, bands also had the opportunity to complete an outdoor performance after their set, extending the public benefit of the contest to be watched by passersby for free. 304 (including 55 combined gala-contest tickets) tickets to the contest were sold, supplemented by over 2000 Trustees Annual Report and Accounts 2021/2022
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additional online views of the online live stream. Continuing a focus on building a university brass band community, and inspiring students around other forms of brass entertainment, this year’s UniBrass Social featured Backstage Brass.
2022 Gala Concert
The UniBrass Gala Concert took place on the 5th February at the University of Sheffield, featuring the Friary Band (reg. charity 1137290) performing alongside Bone-afide trombone quartet and jazz trombonist Dennis Rollins MBE. Support from the Norman Jones Trust (Brass Bands England) allowed several bespoke arrangements to be commissioned, showcasing the cross-genre performers and highlighting a diverse range of skills. Over 400 students and a total audience of more than 600 enjoyed a unique and creative performance that they described as “inspiring” and “unlike any other they had previously seen”.
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Band Camp
On 25th August 2021, 38 students from 13 UK universities and conservatoires across the UK (as well as recent graduates and school leavers) descended on Hesley Wood Scout Camp, Chapeltown, Sheffield, for the inaugural 5 day UniBrass Band Camp. Band Camp was a brass band summer school specifically for players aged 18-25 (and other students) under the musical direction of David Thornton (Grimethorpe Colliery Band MD), supported by a team of tutors. Whilst Band Camp had a usual mix of rehearsals, sectionals, and performances, it also included excursions, adventure activities, and social events. Non-brass band musical activities were equally important, and highlights of the week included the samba and bierkeller workshops, and Q&A sessions on working in music education, better performance technique, and developing student conductors. Overall, Band Camp provided students with access to expert tuition on their artistic performances, and guidance on their future musical directions, as well as building a strong brass banding community.
Trustees Annual Report and Accounts 2021/2022 Page 4
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The band performed four concerts throughout the week, starting with an informal afternoon performance at Hesley Wood (supported by Ecclesfield Parish Council), for fellow campers, scout staff, and Chapeltown residents. The following day the band performed at the Hathersage Pool, an outdoor swimming pool with its own bandstand. This concert also earned the band’s Principal Cornet player, Emily Roberts (University of York) the award for Concert Moment of the Week, for her rendition of Abide with Me. The performance on Day 5 was an outdoor performance at Barker’s Pool in Sheffield, directly outside the City Hall. Band Camp’s closing concert took place in a full Sheffield Cathedral.
UniBrass Band Camp 2021 was organised and led by The UniBrass Foundation, with support from Brass Bands England, Arts Council England, Ecclesfield Parish Council, and Chapeltown Band.
2023/24 Host Selection
In 2021, the brass band at the University of Warwick was successful in securing the two-year hosting term for the UniBrass Championships & Gala Concert events in 2023 and 2024. The bid was won with highlights being the proven high quality and suitability of the Warwick Arts Centre, a strong and engaged committee, and support from a variety of local organisations which will support the event. In addition to a written application each was given an in person visit and invited to pitch their ideas for the contest in order to probe their ability to deliver the event with their facilities and delivery team.
Triathlon Fundraiser
Following the success of the Christmas fundraiser in 2020, for Christmas 2021, three UniBrass Trustees each contributed one leg of a triathlon the distance from Southampton to Sheffield. Over 5
Trustees Annual Report and Accounts 2021/2022 Page 5
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weeks, Megan swam 9.6km, Ewan ran 64km, and Sam cycled 258km. £300 was raised in support of the UniBrass Foundation’s continued work to provide student musicians a national platform.
Artist in Association
During the FY, work began on the Artist in Association project funded by Arts Council England. This project will see three bands (Bristol, Durham, York) work in a prolonged partnership with a professional artist to develop a performance which will be marketed with the support of a project manager in order to develop the audiences attending concerts. At the end of this FY, artists and a project manager have been engaged, with performances planned for June 2022.
Future Aims and Objectives, Challenges and Opportunities
The UniBrass Foundation has been remarkably successful during the years since incorporation, with the continued trend of increased participation at the main UniBrass event each year. Its principal charitable objects have, therefore, been met continuously. During the 2021-2022 Financial Year, trustees set out a 5 year plan, around the four themes of Engagement and Events, Staff, Sustainability, and Advocacy.
Engagement and Advocacy
The trustees aim to improve the offer presented to existing bands by engaging with them more frequently, and for those engaged to be more representative of the student population's demographics. This FY, the charity has improved understanding of the participant demographics attending the 2022 contest by asking participants to complete an anonymous questionnaire. This has helped the charity understand which demographics are underrepresented at its events and will continue to be developed as the charity pursues active engagement from all demographics.
Staff
Over the past couple of years, an increase in the number and scope of projects has posed challenges around workload. Trustees are looking at various pathways to funding staff members to support the charity's work.
Sustainability
In order to ensure the charity's long-term viability, trustees are working to increase income from a variety of revenue streams, and to engage with volunteers for a greater range of current projects.
Trustees Annual Report and Accounts 2021/2022 Page 6
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Financial Review
Foreword
This accounting period runs from 1st April 2021 to 31st March 2022 and begins during the relaxation of COVID restrictions from the UKs 2nd National Lockdown. The UniBrass Foundation had previously taken the decision to postpone the 2021 UniBrass Championships from February to June, resulting in two Championships occurring in this financial period (June 2021 and February 2022). This period also saw the launch of the inaugural UniBrass Band Camp summer school, an event which was extremely popular with its participants and is planned to return in 2022. The Foundation also received Arts Council England (ACE) project funding to run the UniBrass Artist’s in Association programme, which commenced in March 2022.
A combination of factors, including the postponement of the 2021 Championships and the launch of two new projects, has resulted in this financial period reporting the highest turnover in the history of the incorporated charity. Due to the expansion of the charity's activities, there has also been a corresponding increase in the charity's expenditure. Overall, the Foundation reported a net surplus, though a significant portion of this surplus is designated as restricted reserves to fund the in-progress Artists in Association Scheme. With the unrestricted surplus, the charity continues to sustainably grow its reserves. The charity is financially healthy and able to support all planned activities in the upcoming financial period.
Review
The UniBrass Foundation’s income for this FY has surpassed the threshold required for an independent examination but is not required by law to complete a full audit. The board of trustees has elected for an independent examination of this year's accounts and the treasurer has verified the charity meets the requirements for this. The board of trustees has followed the charity commission guidance in choosing the independent examiner (CC31), and believe the appointed examiner has the required skills with no conflicts of interest. The independent examiners report is attached to this submission and the examination was completed with no material findings to report. The statement of accounts for this period has been prepared by the charity treasurer, and have been reviewed and approved by the board of trustees. The reserves policy in place for this period is also attached to this submission. This policy was reviewed and amended for the start of this period. During this period the charity received restricted reserves, this will be accounted for in the reserves policy review for the next financial period. No corporation tax filing has been requested by HMRC for this period, and the charity has not incurred any corporation tax, hence it is not required to complete a return.
Overall, the Foundation continues to operate prudently when managing project budgets, allowing all projects completed in this period to run at break even or with small surpluses. By generating small surpluses on projects, and continuing to explore novel income streams the Foundation is able to cover its core operational costs and allocate remaining funds to its reserves. This period continues the recent trend of sustainable growth in the charity's reserves.
Trustees Annual Report and Accounts 2021/2022 Page 7
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This period saw continued funding from Arts Council England with project grant funding supporting the UniBrass Band Camp and Artist’s in Association Scheme. The charity also received support from Brass Band’s England (registered charity 1148331), the UniBrass Foundation values the partnership between our two organisations and thanks Brass Band’s England for their continued support and guidance. The board of trustees would also like to thank the charity’s various other benefactors for their continued generosity and support of the UniBrass Foundation.
Summary of accounts
This financial period reported an overall net surplus for the charity. A significant portion of this surplus is retained as restricted reserves for the in-progress Artists in Association project, the remaining funds are held as unrestricted reserves and will facilitate the charity’s continued sustainable growth in its reserves in order to meet its reserves policy. For this review, the 2019/20 financial period has been used as the comparison period in all reported metrics, this is due to the abnormal circumstances of the 2020/21 FY resulting in a financial submission not typically representative of the charity’s activities.
On an absolute basis, the total receipts in this period have increased by 230% compared to the 2019/20 FY, as previously outlined this is primarily due to the significant increase in major projects being run by the charity in this financial period. We can instead compare on a like-for-like basis to the 2019/20 FY by removing the ‘extra’ projects which took place in this period, this sees an increase in income of 32%. The largest category of income was Donations & Grants which accounted for 52% of this year's income. Project grants from Arts Council England formed the bulk of this category. The second largest category of income was Event Ticket Sales, making up 31% of this year's income. This income was made up of ~50% ticketing income from the 2022 Championships, and the remainder from Band Camp 2021 with some deposits for Band Camp 2022 also being taken in this period. The remaining significant categories for receipts were Trade & Sponsorship accounting for 7%, Championship entry fees at 6% and Participant overnight accommodation at 2%.
Expenditure for this period increased by 220% compared to the 2019/20 FY. As with income, this is primarily due to the increase in project related expenditure, comparing like-for-like we see an increase in expenditure of 42%. The largest category of expenditure was professional services which accounted for 38% of this period's expenditure. 60% of this professional services was incurred for UniBrass Band Camp 2022 and the remainder for the UniBrass championships. The second largest category of expenditure was Venue & Equipment hire which accounted for 24% of this period's expenditure. 68% of this category was attributed to Band Camp 2021, 24% to the UniBrass Championships 2022, and 4% each to the UniBrass Championships 2021 and Band Camp 2022. The remaining significant categories of expenditure were Accomodation accounting for 8% of expenditure, Trade & Sponsorship at 8% and Travel & Subsistence at 7%.
In summary, this year saw the Foundation return to its pre-pandemic output. Overall, the charity reported a net surplus, retaining restricted funds for an in progress project, and the unrestricted funds being utilised to continue the growth in the charity’s reserves in order to meet the aims set out in the charity’s reserves policy. At the end of this financial period, the charity retains ~£22,500 in unrestricted reserves, this remains ~10% below the total reserves target set out in the charity’s
Trustees Annual Report and Accounts 2021/2022 Page 8
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reserves policy. The charity endeavours to grow its unrestricted reserves to meet the target set out in its reserves policy. Overall, the charity retains funds to support all projects currently planned for the 2022/23 financial period.
Public Benefit
In planning the charity’s activities for the year the Board of Trustees and its sub-committees have kept in mind the Charity Commission’s guidance on public benefit at their respective meetings.
To the trustees’ knowledge, the UniBrass Championships remains the only event of its kind worldwide. The wider general public benefit from access to a unique student arts event of national scale that they may attend either in person or online, driving engagement with the brass band movement. It also raises awareness of and facilitates access to opportunities, also available to the general public, to enhance their personal development by involving themselves with the brass banding community. Through a variety of free public performances, the outdoor 2021 Contest, outdoor performances at the 2022 contest, and Band Camp performances, the trustees have continued to provide this public benefit, perhaps reaching an even wider section of the public than usual.
Administration and governance
Governing Document
The charity is governed by a constitution that was adopted on 6th November 2014, as amended 23rd August 2017 and then subsequently on 24th April 2018, 22nd February 2019, 14th September 2019, 24th November 2019, 23rd February 2020, 4th April 2020, 2nd August 2020 and most recently 12th January 2022.
This constitutes the charity as a Charitable Incorporated Organisation (CIO) governed by a Board of Trustees which manages the day-to-day operations of the charity. They also supervise a sub-committee which is mandated to run the charity’s main annual event: the University Brass Band Championships of Great Britain and Northern Ireland (also known simply as ‘UniBrass’). This sub-committee is composed of students of the institution (university) that hosts the UniBrass Championships. The Chair and Treasurer of this sub-committee are invited to sit on the Board of Trustees as ex-officio appointments.
The trustees have established an Expenses Policy that determines reasonable and appropriate travel expenses; this policy also applies to contractors and volunteers engaged by the charity. The UniBrass Foundation is also guided by its Safeguarding Policy, Equal Opportunities and Diversity Policy, Health and Safety Policy, Internal Procedures Policy, and Privacy Notice, Grant Giving Policy, and three Bye-laws. These policies are reviewed annually at or after the Annual General Meeting, and at other ordinary meetings as required, and the current versions of all policies, bye-laws and the constitution are available on the UniBrass website.
Trustee appointment, induction and training
Trustees are typically appointed or reappointed for three year terms by the incumbent board of trustees at a properly convened meeting of the trustees. In addition, there are two ex-officio trustees representing the UniBrass Organising Committee, who hold office for the duration that they hold the
Trustees Annual Report and Accounts 2021/2022
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positions of UniBrass Organising Committee Chair and Treasurer. At the end of each contest, subject to the needs of the charity, one member of the Organising Committee is offered an appointment to the board of trustees for a one year term. The Foundation also maintains strong links with Brass Bands England in part through a nominated (non-voting) board member on the charity board (which prior to 12th January 2022 was a full trustee position). .
Upon appointment to the Board of Trustees, each trustee receives a welcome pack which introduces them to their legal obligations as a trustee, key charity policies and governing documents, the expectations that the UniBrass Foundation has of its trustees, and an overview of how the charity is run.
Trustees Annual Report and Accounts 2021/2022 Page 10
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Trustees serving during the year:
| Name | Ofce (if any) | Dates acted as trustee (if not for whole year) |
|
|---|---|---|---|
| Trustees appointed by the charity trustees | |||
| 1 | Andrew Straiton | Chair (-to 06/02/2022) | - |
| 2 | Andrew Baldacchino |
Treasurer |
- |
| 3 | Samuel Hartharn-Evans |
Secretary | - |
| 4 | Thomas Hicken | Vice-Chair ( - to 06/02/2022) Chair(06/02/2022 to -) |
- |
| 5 | Abigail Groocock | Vice-Chair(06/02/2022 to -) | - |
| 6 | Lyndon Brett Baker |
- | |
| 7 | Megan Bousfeld | 18/07/2021 to - | |
| 8 | Ewan Saunders | 18/07/2021 to- | |
| 9 | Voirrey Baker | 06/02/2022 to- | |
| Ex-ofcio trustees holding an appointed ofce | |||
| 9 | VoirreyBaker | OrganisingCommittee Chair | - to 06/02/2022 |
| 10 | Rebecca Rowley | Organising Committee Treasurer |
- to 05/08/2022 |
| 11 | Rachel Onions | Organising Committee Treasurer |
05/08/2021 - 06/02/2022 |
| 12 | James Everitt | OrganisingCommittee Chair | 06/02/2022 to - |
| 13 | Sidney Pycroft | Organising Committee Treasurer |
06/02/2022 to - |
| Trustees appointed by Brass Bands England(reg. no. 1,148,331) | |||
| 14 | Alex Parker | - to 04/01/2022 |
|
| Trustees who stood down during theyear | |||
| 15 | Nigel Birch | - to 13/06/2021 |
The current trustees wish to thank Nigel, Rebecca and Rachel for their work to further the aims of the UniBrass Foundation.
Trustees Annual Report and Accounts 2021/2022
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UniBrass Foundation Receipts and payments accounts
1159359
For the period from 01/04/2021 to
31/03/2022
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| Receipts and payments | Receipts and payments | Receipts and payments | ||
|---|---|---|---|---|
| Unrestricted funds Restricted funds Endowment funds (nearest £) (nearest £) (nearest £) |
Total funds (nearest £) |
Previous period (nearest £) |
Notes | |
| A1 | Receipts | |||
| Donations & Grants Gift Aid Event ticket sales Lottery Proceeds Trade & sponsorship Championship entry fees Participant overnight accommodation Bank Interest Miscellaneous |
- 2,859- - 29,479- - -- - 468- - -- - -- - 19,133- - -- - -- - 847- - -- - -- - 4,527- - -- - -- - 3,820- - -- - -- - 1,144- - -- - -- - 6- - -- - -- - 189- - -- - -- |
- 32,338- - 468- - 19,133- - 847- - 4,527- - 3,820- - 1,144- - 6- - 189- |
- 4,178- - 2,142- - 170- - 768- - 866- - 91- - 96- - 60- - 47- |
1 2 |
| SUB-TOTAL | - 32,992- - 29,479- - -- |
- 62,471- |
- 8,417- |
|
| A2 | Asset and investment sales | |||
| Current assets | - -- - -- - -- |
- -- |
- -- |
|
| SUB-TOTAL | - -- - -- - -- |
- -- |
- -- |
|
| Total receipts | - 32,992- - 29,479- - -- |
- 62,471- |
- 8,417- |
|
| A3 | Payments | |||
| Travel & Subsistence Accommodation Cost of Sales Venue & Equipment hire Professional services Insurance Legal & licensing fees Trade & sponsorship Publicity Adjudicator Fees & Expenses Organisational memberships Workshop Leader Fees & Expenses Masterclass Leader Fees & Expenses Administrative Expenses Grant Underspend Trophies & Prizes |
- 3,348- - -- - -- - 4,287- - -- - -- - 525- - -- - -- - 7,835- - 4,112- - -- - 4,345- - 14,677- - -- - 145- - -- - -- - 199- - -- - -- - 3,838- - -- - -- - 85- - -- - -- - -- - 1,808- - -- - 107- - -- - -- - -- - 2,084- - -- - -- - -- - -- - 2,619- - -- - -- - -- - -- - -- - 563- - -- - -- |
- 3,348- - 4,287- - 525- - 11,947- - 19,022- - 145- - 199- - 3,838- - 85- - 1,808- - 107- - 2,084- - -- - 2,619- - -- - 563- |
- -- - 717- - 61- - 762- - 250- - 143- - 40- - 600- - 204- - -- - 272- - -- - -- - 105- - 321- - -- |
3 4 |
| SUB-TOTAL | - 27,896- - 22,681- - -- |
- 50,577- |
- 3,474- |
|
| A4 | Asset and investment purchases | |||
| Current assets | - -- - -- - -- |
- -- |
- -- |
|
| SUB-TOTAL | - -- - -- - -- |
- -- |
- -- |
|
| Total payments | - 27,896- - 22,681- - -- |
- 50,577- |
- 3,474- |
|
| NET A5 Transfers between funds A6 Cash funds last year end Correction on previous accounting period |
- 5,096- - 6,798- - -- - -- - -- - -- - 17,411- - 2,000- - -- - 54- - -- - -- |
- 11,894- - -- - 19,411- - 54- |
- 4,944- - -- - 14,467- - -- |
5 |
| Cash funds this year end | - 22,453- - 8,798- - -- |
- 31,251- |
- 19,411- |
|
| Statement of assets and liabilities at end of period | ||||
| Unrestricted funds Restricted funds Endowment funds (nearest £) (nearest £) (nearest £) |
Total funds (nearest £) |
Previous period (nearest £) |
||
| B1 | Cash funds | |||
| Cash at bank Cash float |
- 22,374- - 8,798- - -- - 78- - -- - -- |
- 31,173- - 78- |
- 19,344- - 67- |
|
| Total Cash Funds | - 22,453- - 8,798- - -- |
- 31,251- |
- 19,411- |
|
| B2 | Other monetary assets | |||
| Debtors | - 633- - 500- |
- 1,133- |
- -- |
|
| Fund to which asset belongs Cost (optional) Current value (optional) |
||||
| B3 | Investment assets | |||
| - -- - -- |
||||
| B4 | Assets retained for the charity's own use | |||
| UniBrass Trophy UniBrass Shield Retained merchandise |
Unrestricted funds - 3,250- - -- Unrestricted funds - 1,500- - -- Unrestricted funds - -- - 1,670- |
|||
| Fund to which liability relates Amount due When due |
||||
| B5 | Liabilities | |||
| Creditors (refunds retained on account) | Unrestricted - -- < 1yr |
|||
| Signed by two trustees on behalf of all the trustees |
||||
| Signature Name Date of approval |
||||
| Andrew Baldacchino 2nd June 2022 Thomas Hicken 6th June 2022 |
| Unrestricted funds | Unrestricted funds | Restricted funds | Restricted funds | Endowment funds | Total | funds | Previous period | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| (nearest £) | (nearest £) | (nearest £) | (nearest £) | (nearest £) | |||||||
| B1 | Cash funds | ||||||||||
| Cash at bank | - | 22,374- | - | 8,798- | - -- |
- | 31,173- | - 19,344- |
|||
| Cash float | - | 78- | - | -- | - -- |
- | 78- | - 67- |
|||
| Total Cash Funds | - | 22,453- | - | 8,798- | - -- |
- | 31,251- | - 19,411- |
|||
| B2 | Other monetary assets | ||||||||||
| Debtors | - | 633- | - | 500- | - | 1,133- | - -- |
||||
| Fund to which asset belongs |
Cost (optional) | Current value (optional) |
|||||||||
| B3 | Investment assets | ||||||||||
| - | -- | - -- |
|||||||||
| B4 | Assets retained for the charity's own use | ||||||||||
| UniBrass Trophy | Unrestricted funds | - | 3,250- | - -- |
|||||||
| UniBrass Shield | Unrestricted funds | - | 1,500- | - -- |
|||||||
| Retained merchandise | Unrestricted funds | - | -- | - 1,670- |
|||||||
| Fund to which liability relates |
Amount due | When due | |||||||||
| B5 | Liabilities | ||||||||||
| Creditors (refunds retained on account) | Unrestricted | - | -- | < 1yr | |||||||
| Signed by two trustees on behalf of all the | Signature | Name | Date of approval | ||||||||
| trustees | Andrew Baldacchino | 2nd June 2022 | |||||||||
| Thomas | Hicken | 6th June 2022 | |||||||||
| UniBrass Foundation 1159359 |
|||
|---|---|---|---|
| For the period from 01/04/2021 to 31/03/2022 |
|||
| Notes to the accounts | |||
| A significant portion of this category was made up by Arts Council England project grants. £ 14,980 was receieved in | |||
| 1 | support of UniBrass Band Camp 2021, and £ 10,018 has been recieved in advance of the UniBrass Artists in Association | ||
| scheme. These grants formed the bulk of the restricted funds in this category. | |||
| 2 | This category has seen an increase in income compared to the 2019/20FY (last comparable period). This is due to the UniBrass Band Camp running for the first time. |
||
| 3 | Restricted funds associated with Band Camp 2021 were used here to fund the hire of Hesley Wood Activity Centre for the duration of the project, and Sheffield Cathedral as a concert venue. |
||
| Restricted funds for UniBrass 2022 were used here to cover costs of security and tech personnel, and the hire of musicians. | |||
| 4 | Restricted funds associated with Band Camp 2021 were used to cover costs of the muscial director, tutors, and project management services. Funds for the Artists in Association scheme were used here to cover an initial tranche of project |
||
| managment. | |||
| 5 | This line item is to correct for an error in cash funds recorded in a previous accounting period. |
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Reserves Policy
1. Overview
Objective
The objective of this policy is to establish a framework for good governance of funds held by the UniBrass Foundation. These funds, directed by this policy, will enable the charity to take advantage of new opportunities as they arise, or ride out unexpected setbacks, and accommodate unexpected expenditure or losses of funding.
This will also demonstrate to the general public that all funds coming into the Foundation’s care are being used appropriately, for the purposes of the charity and its objects.
Scope
This policy applies to all unrestricted funds held as general funds of the UniBrass Foundation, and establishes guidelines for its review and amendment. This policy forms a key element of the strategic plan of the charity, and feeds into the budgeting and decision-making processes.
This policy will be reviewed on an annual basis at a meeting designated by the Trustees following the charity AGM. The review will be conducted as part of the charity’s usual planning processes.
Policy
The UniBrass Foundation will hold in reserve sufficient funds to secure and sustain the charity’s viability, and to capitalise on new opportunities as they are presented. It is the responsibility of each Trustee to ensure that this policy is considered when budgeting and event planning decisions are discussed.
It is the responsibility of each Trustee to read, understand, and comply with this policy.
The UniBrass Foundation reserves the right to change this policy at any time.
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2. Major charitable activities
The UniBrass Foundation currently operates several activities and events in fulfilment of its charitable objects. These are summarised below along with their associated income and liabilities.
The flagship event for the Foundation is the UniBrass Championships and Gala Concert which typically take place at a host University in February. Currently, the contest and gala concert changes host University every 2 years. This regular cadence has demonstrated a cycle where the second year at a given host university is more profitable than the first. The charity should aim to make a profit across a host universities 2 year cycle, allowing for a break even or slight net negative in a host universities first year. As a result, the charity should retain reserves to support an initial negative cash flow across this cycle.
UniBrass Championships
The annual Championships are the largest public event run by the charity; these and other associated events constitute the primary income stream for the Foundation. The Championships also generate significant costs over the Financial Year, usually totalling between £15,000-£20,000. The aim for this event is to be, at a minimum, cost neutral overall.
UniBrass Gala Concert
The gala concert was introduced at the University of Warwick in 2014 and it primarily should aim to generate income for the Foundation. Income derived from the contest is used to support the solvency of the UniBrass Championships in the first instance, and then further projects organised by the Foundation after this. It has therefore become a major contributor to the charity’s reserves.
In 2019, the contest was hosted in Bangor for the first time. The Organising Committee again organised a gala concert but due to venue constraints the concert did not run at a profit. As a result the Organising Committee for the 2020 contest elected to not host a concert. Given the COVID-19 pandemic, it is unlikely that a ‘regular’ gala concert will be held at the Sheffield June 2021 contest but the concert is expected to return when the contest returns ‘as usual’ for the second contest in Sheffield in February 2022.
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3. Review of current/future funds
The UniBrass Foundation is primarily funded through public events organised by the charity, and maintains two secondary funding streams via fundraising/donations and from direct grants from organisations. These funding organisations typically operate on a 12 month time horizon, with applications for new grants usually being made half-way through this window.
At present the Foundation does not hold any form of restricted funds; the Trustees are therefore free to use all held funds in furtherance of the charity’s objects. Of these, a designated fund has been created in support of the UniBrass Championships.
Under normal operating conditions the annual UniBrass contest affects the financial position of the charity from October-April of each Financial Year. The most significant cash flows occur from mid-December through to early March, with most cash outflows typically occurring from mid-January through to the end of February. This is the charity’s most at-risk period, creating a need for strong cash reserves and significant liquidity to ensure continued operation. At present, this is managed through a combination of charity reserves, strategic fundraising, and the realisation of income associated with the UniBrass Championships itself. A regular monthly income would reduce the financial risk in this period; this aim has begun to be realised with the UniBrass Foundation Lottery which was launched in mid 2020.
Aside from the annual contest the UniBrass Foundation does not organise any other recurring projects. However, the Board has expressed its intention to expand the offering of regular events or other collaborations in the near-term, in addition to several one-off projects that will conclude within this Financial Year. The effect of these on cash flow was considered during the charity’s usual planning processes.
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4. Level of reserves
Justification
The UniBrass Foundation will hold in reserve sufficient funds to mitigate the risk posed by unforeseen emergencies, unexpected circumstances or to support events in abnormal circumstances which require additional funding to meet the Foundation’s charitable objectives. The Trustees have identified that a significant proportion of funds are received via grants from external bodies that are not guaranteed year-to-year, and have incorporated this into the level of reserves set.
Due to the timing of most major cash flows concerned with the charity’s work, funds are also held in reserve to cover short-term deficits in the budget. The Trustees also recognise that moving the Foundation’s activities to a new venue is likely to result in a loss in the first year, and have set aside a provision for this.
Range & level of reserves
In the March 2021 policy review, the reserves fund underwent a minor restructuring. The BaSH fund was renamed to the Ongoing & Recurring Projects fund to allow for future ongoing UniBrass projects to be covered by this fund. A separate New and Expanded Projects fund was established to set aside reserves for the Foundation to explore new project ideas and allow the expansion and growth of the charity outside of its flagship event.
This reserves policy sets out five funds to dedicate reserves. In total, this policy recommends a total reserves fund of £25,050 split into the following funds:
Operations
To provide the liquidity required to facilitate the day-to-day operational costs of planning and running charitable activities carried out by the UniBrass Foundation a reserve fund of £2,000 has been established. This will be held in the charity’s current account at all times, and will be replenished from savings regularly if it is in deficit.
UniBrass Championships
The Foundation will build up and hold in reserve sufficient funds to support one year of activities independent of external funding sources. The Trustees have identified that this should be set at £20,000.
Fundraising
A reserve level of £500 has been established to cover expenses associated with charity personnel travelling to and staying overnight at the annual carolling location and for running Brass in the Park, and insurance costs associated with the collection of monies at all fundraising events. These costs will usually be met directly out of the collections themselves after the fact; any surplus will be used to maintain the fund at the above level.
Ongoing & Recurring Projects
This fund supports any ongoing and recurring projects organised by the Foundation. Presently there are two projects supported by this fund. Firstly the Band Sharing Hub
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(BaSH) scheme, which was launched this year (2020/21), has a reserve of £500 and has been established to support the scheme in the first two years until it is able to move to a self-sufficient subscription-based model. These subscriptions will be used to pay down the initial capital allocation; beyond this these will be reinvested into the scheme. The other project supported by this fund is the UniBrass Lottery which has a fund set at £50. This covers the recurring cost for license renewal.
New and Expanded Projects
The charity is looking at expanding the number and scope of the projects it organises. For example, in July 2021 the Foundation is organising the first UniBrass Summer Camp. The charity should retain an amount of reserves in order to facilitate these new projects. Projects utilising these funds should aim to be, at a minimum, cost neutral, allowing income received from the project to restore reserves to this fund. This reserves level for this fund will be set at £2,000. Should a project become a recurring event, it will have a separate reserves level established in the Ongoing & Recurring Projects fund in a subsequent policy review.
Establishing the reserves
Reserve funds have been established primarily from income accrued from previous Championship events and donations received from other sources. Beginning in the 2020/21 FY, reserves have also been accrued from the UniBrass Lottery, with the aim to expand this income stream in subsequent years.
Beyond this any further funds will be built up gradually from surpluses generated by the charity’s events, and via targeted fundraising. As income is received, the Trustees will have regard to the proximity of any major charity event and the severity of any deficit when deciding which funds to allocate this to.
Investing reserves
All reserves will initially be held in the charity’s savings account, which the Trustees have identified as the most efficient way of investing the charity’s funds. They will review this account regularly, and remain vigilant to the prevailing market for other alternatives which may be more advantageous.
When total cash reserve levels across all funds reach approximately £25,000, the Trustees will investigate the possibility of investing a portion of these cash funds in longer-term vehicles. It is expected that any event necessitating a drawdown against a fund will become clear far enough in advance that, if required, long-term investments can be liquidated in good time.
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5. Policy review
Frequency of review
As part of the charity’s usual planning processes, focussed reviews of this policy will be carried out on an annual basis. In depth reviews will take place once every two or three years, or as the charity trustees feel necessary, in response to changing charitable or financial conditions and needs. Any trustee may call for a review where they reasonably believe conditions necessitate it. The guidelines established as part of this policy should form the basis of the review, alongside current and projected funding streams.
The level of reserves held will be monitored throughout the year as part of normal budget management.
Conducting the review
Trustees will initiate the review by determining what funds the charity holds, how they are allocated, and any restrictions placed on the use of those funds.
Analysis will be made of current projects and activities organised by the charity, and those planned for the future. A consideration will be made on future forms of funding, in light of this and the prevailing financial environment at the time of the review.
Any committed expenditure will be reviewed, including the timing of this and its impact on cash flows. Where possible this should be matched with income; otherwise reserves will be required.
An investigation of any perceived risks to which the charity is exposed, and the reliability of its income, will be undertaken.
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Appendix 1. Table of Reserves Funds
| Reserve Fund | Amount |
|---|---|
| Operations | 2,000 |
| UniBrass Championships | 20,000 |
| Fundraising | 500 |
| Ongoing and Recurring Projects | 550 |
| New and Expanded Projects | 2,000 |
| TOTAL | £ 25,050 |
Threshold for Investing Funds: £25,000
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Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees:
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……………………………………..
Sam Hartharn-Evans
UniBrass Foundation Secretary
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………………………………….
Andrew Baldacchino
UniBrass Foundation Treasurer
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DATE: 19th September 2022
UniBrass Foundation
Registered Charity in England and Wales 1, 159, 359
Registered Office:
Unit 12 Maple Estate Stocks Lane Barnsley S75 2BL
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