## **FINCHLEY CHILDREN’S MUSIC GROUP**
## **Registered Charity number 1160096**
## **TRUSTEES’ REPORT AND ACCOUNTS**
## **FOR THE YEAR ENDED 31 AUGUST 2022**
|**INDEX**||
|---|---|
||**PAGE**|
|**TRUSTEES’ REPORT**|**3**|
|**INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF**|**5**|
|**FINCHLEY CHILDREN’S MUSIC GROUP**||
|**STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR**|**8**|
|**ENDED 31 AUGUST 2022**||
|**BALANCE SHEET AT 31 AUGUST 2022**|**9**|
|**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022**|**10**|
**FINCHLEY CHILDREN’S MUSIC GROUP**
## **GENERAL INFORMATION**
## **Address:**
76 St James's Lane Muswell Hill London N10 3RD
## **Independent Auditors:**
Leapman Weiss - Chartered Accountants Unit 6 30 Friern Park London N12 9DA
## **Bankers:**
CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
CCLA Investment Management Limited 85 Queen Victoria Street London EC4V 4ET
2
**FINCHLEY CHILDREN’S MUSIC GROUP**
## **TRUSTEES’ REPORT**
The trustees present their report and audited financial statements for the year ended 31 August 2022.
## **Description of Group**
Finchley Children’s Music Group (‘The Group’) is a Charitable Incorporated Organisation (CIO) governed by a constitution adopted on 22 January 2015 and entered into the Register of Charities on that date with the registered charity number 1160096.
The management of the Group is undertaken by a Board of Trustees consisting of a Chair, Secretary, Treasurer and between one and nine other members. The trustees are elected by and out of the Group's members at the Annual General Meeting.
## **Objectives and activities**
The principal objective of the Group is to promote education in and appreciation of the art and science of music by the presentation of concerts and recitals.
## **Achievements and performances**
2021-22 saw the return to in-house concerts and external projects after the pandemic restrictions were lifted. In the autumn term younger Seniors provided the soundtrack for the Aldi Christmas advert recorded at Air Studios. Senior, Chamber and Intermediate Choirs then had their autumn concert, this was the first opportunity to perform a proper concert format for many of the singers who had only moved up from Beginners or joined the choirs in the previous 18 months. The Senior Choir performed Britten _St Nicolas_ with North London Chorus, and three trebles had the chance to perform this again at the Barbican Centre with the BBC Symphony Orchestra and Chorus. The term rounded off with an All Choirs Christmas concert.
In January 2022 we were very pleased to welcome Hannah King as the Beginner Choir Director, she was warmly welcomed by the singers who were very happy to get into the Space theme for their first concert with her. For the older choirs the spring was busy again with recording of Havergal Brian works and the return of the Bach Choir performance of the St Matthew Passion where the Senior Choir was part of the Ripieno chorus, and also the long-awaited world premiere performance of a composition _The Innocents_ from Patrick Hawes with VOCES8 for the Proms at St Jude’s which had been repeatedly postponed. Two trebles from Intermediate Choir also recorded some nursery songs for an Israeli TV channel.
In the summer term, Senior & Chamber Choirs performed in their summer concert with Finchley Choral Society, and Senior Choir singers recorded Leighton’s _Laudes Animantium_ with Londinium. The Beginner and Intermediate Choirs had their summer concert and then Senior and Chamber Choirs rounded off the summer with their Summer School residential held at Stowe School.
## **Future Plans**
Some exciting projects were planned for the following year, including opportunities for Intermediate Choir to perform in external events again, and the first time for most to perform with orchestra. Two concerts featured world premieres, the first where Intermediate and Senior Choirs joined Crouch End Festival Chorus to premiere Cassie To’s _Songs of the Reef_ about climate change, and the second with FCMG alumnus Jacques Cohen’s _Creation_ . Senior & Chamber Choir singers recorded a Christmas
3
FINCHLEY CHILDREN'S MUSIC GROUP
advert. this time at Abbey Road Studios, and greatly looked forward to working again with English
National Opera in performances of Korngold's Dead City, an event with the Body Shop, and a world
premiere by Christian Mason with the Birmingham Contemporary Music Group, as well as solo
opportunities working with Joby Talbot, Malcolm Singer and Bjorn Ulvaeus.
Financial Review
The Group incurred a surplus on the General Fund of £2.35712021= deficit £28,115) and a surplus of
£1.20812021= surplu5 £11,0321 on the Restricted and Designated Fund which includes expenditure
of £3,89612021.' £1,841) on bursaries for membership and for the residential Summer Schoo5.
The trustee5 aim to maintain reseNes at a level which provides for foreseeable expenditure and any
significant flucttjations in receipts. Reserves were previously built up in anticipation of the 50th
anniversary celebrations and were subsequently drawn down,. similarly, the trustees took steps to
increase reserves to allow for projects. in particular recordings and commissions, to mark the Group's
60th anniversary.
At 31st August 2022, the level of free reserves was £45,96012021: £43,603).
Public benefit
The Group believes that singing and musical education is of benefit to all children and should not be
denied to those with low income. Funds are provided by donation and by fundraising specifically for
the purpose as well as from the Group's fund5. During the year the Group enabled sixteen children to
be members of the choirs through bursaries ranging from 80% bursary to a third reduced fees and
supported six places at 50% cost up to full subsidy for the residential Summer School.
Trustees
The trustees who served during the year were..
Theresa Ward (Chairl
Spyridoula Kalodiki (Treasurer)
Paul Guenault (Secretary)
Judith lacovou
Sarah Phillips
Polly Richards
Julian Saipe (appointed 15 May 20221
Michael Brookes lappointed 15 May 20221
The trustees declare that they have approved the trustees, report set out on pages three and four
above.
ned on behalf of all the trustees..
Theresa Ward
Chair
Spyridoula Kalodiki
Treasurer
Date..
É Lkn ZoL3
**FINCHLEY CHILDREN’S MUSIC GROUP**
## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF FINCHLEY CHILDREN'S MUSIC GROUP**
## **Opinion**
We have audited the financial statements of Finchley Children’s Music Group (the ‘charity’) for the year ended 31[st] August 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
•give a true and fair view of the state of the charity's affairs as at 31[st] August 2022, and of its incoming resources and application of resources, for the year then ended;
•have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•have been prepared in accordance with the requirements of the _Charities Act_ 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the
5
## **FINCHLEY CHILDREN’S MUSIC GROUP**
financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the _Charities (Accounts and Reports) Regulations 2008_ requires us to report to you if, in our opinion:
•the information given in the financial statements is inconsistent in any material respect with the trustees’ report;
•sufficient accounting records have not been kept;
•the financial statements are not in agreement with the accounting records and returns; or
•we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
The trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under the _Charities Act_ 2011 and report in accordance with regulations made under the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the Trustees and other management (as required by auditing standards).
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FINCHLEY CHILDREN'S MUSIC GROUP
We had regard to laws and regulations in areas that directly affect the financial statements.
We considered the extent of compliance with those laws and regulations as part of our procedure
on the related financial statement items.
With the exception of any known or possible non-compliance, and as required by auditin8
standards, our work in respect of these wa5 limited to enquiry of the Trustees.
We communicated identified laws and regulations and remained alert to any
indication5 of non-compliance throughout the aLsdit.
We addressed the risk of fraud through management override of controls, by considering the
internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations
and testing the appropriateness of journal entries and other adjustments.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at= www.frc.or
auditorsres
onsibilities. This description
forms part ofour auditorfs report.
Use of our report
This report 15 made solely to the charity's trustees, as a body, in accordance with Part 4 of the
Charities IAccounts and Reports) Regulations 2008. Our audit work has been undertaken so that we
might state to the charity's trustees those matters we are required to State to them in an Aijditors,
report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this
report. orfor the opinions we have formed.
Pkn A. H. W&44S FCA
Peter Weiss BSC, MSC, FCA Isenior Statutory Auditorl
for and on behalf of Leapman Weiss- Statutory Auditor Chartered Accountants,
Unit 6, 30 Friern Park, London. N12 9DA
Date:
10.05.2023
**FINCHLEY CHILDREN’S MUSIC GROUP**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022**
|**General**
**Restricted**
**&**
**Designated**
**Fund**
**Funds**
**£**
**£**
**Income from charitable activities:**
Subscriptions
59,498
(1,324)
Gift aid
10,128
-
Donations and fundraising
716
-
Performances and recordings (Note 2)
(158)
-
Royalties
1,170
-
Sundry income
155
-
**Total income**
**71,509**
**(1,324)**
**Expenditure on charitable activities:**
**Direct musical expenditure**
Summer school (Note 3)
2,358
2,572
Music
2,188
-
Rehearsal costs: hire of hall and piano
10,108
-
Rehearsal costs: fees to music staff
25,944
3,896
**Direct charitable administration**
Fees to administrator
2,123
-
Advertising and recruitment
4,353
-
Bank fees
107
-
Depreciation
1,036
-
Gifts
882
-
Insurance
257
-
Printing, postage, stationery, telephone
1,166
-
IT Cost
6,200
-
Sundries
2,330
-
**59,052**
**6,468**
**Governance costs**
Audit
1,100
-
**Total expenditure**
**60,152**
**6,468**
**Net income/(expenditure)**
**11,357**
**(7,792)**
**Gross transfers between funds**
(9,000)
9,000
**Net movement in funds**
**2,357**
**1,208**
**Total funds brought forward**
**43,603**
**23,710**
**Total funds carried forward**
**45,960**
**24,918**|**2022**
**2021**
**Total**
**Total**
**£**
**£**
58,174
39,559
10,128
6,290
716
5,126
(158)
(1,170)
1,170
5,402
155
32
**70,185**
**55,239**
4,930
9,895
2,188
925
10,108
5,340
29,840
33,901
2,123
15,744
4,353
1,439
107
98
1,036
232
882
411
257
248
1,166
1,497
6,200
357
2,330
1,140
**65,520**
**71,222**
1,100
1,100
**66,620**
**72,322**
**3,565**
**(17,083)**
-
-
**3,565**
**(17,083)**
**67,313**
**84,396**
**70,878**
**67,313**|
|---|---|
There were no recognised gains or losses other than the result for the period.
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FINCHLEY CHILDREN'S MUSIC GROUP
BALANCE SHEET AT 31 AUGUST 2022
Note
2022
2021
Fixed assets
Current assets
Stock
Debtors
Cash at bank and in hand
635
528
11,816
6.759
89,382
89,201
Creditors: Amounts falling due
within one year
Net current a55ets
70,878
67,313
T¢)tal assets less current liabilities
70,878
67,313
Creditors: Amounts falling due after
more than one year
Net assets
Funds of the Charity:
Unrestricted fund
45,960
5,814
19,104
43,603
9,710
14.000
Restricted funds
Designated funds
Total
Signed on behal* of the trustees.
Theresa Ward
Chair
Spyridoula Kalodiki
Treasurer
Date-
**FINCHLEY CHILDREN’S MUSIC GROUP**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **1 Accounting policies**
- 1.1 The accounts have been prepared on the historic cost basis, in accordance with Accounting and Reporting by Charities - Statement of Recommended Practice (SORP); applicable accounting standards and the Charities Act 2011. The following paragraphs describe the main accounting policies.
- 1.2 Income represents choir members' subscriptions and surpluses from performances, the Group's Summer School and other workshops. These incoming resources are included in the statement of financial activities when the Group becomes entitled to the income, the trustees are virtually certain they will receive the income; and the monetary value can be measured with sufficient reliability.
- 1.3 Liabilities are recognised as soon as there is legal or constructive obligation committing the Group to pay out resources.
- 1.4 Depreciation has been provided on tangible fixed assets at a rate calculated to write off the cost of these assets, less any estimated residual value, over their estimated useful lives.
- 1.5 Stocks are valued at the lower of cost or market value, after making due allowance for slow moving items.
- 1.6 Unrestricted funds represent funds which are expendable at the discretion of the trustees for the furtherance of the objects of the Group. Such funds may be held for the purposes of meeting the administration and operational costs of the Group. Designated funds represent unrestricted funds that the trustees have set aside for a particular purpose. Restricted funds represent grants which are allocated by the donor for specific purposes. Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
## **2 Performances and recordings**
|**2**
**Performances and recordings**|||
|---|---|---|
|Income
Expenditure before project costs
Surplus/(deficit)
Commission/Recording project costs
Overall surplus/(deficit)|**2022**
**£**
14,047
(14,205)
(158)
-
(158)|**2021**
**£**
349
(1,519)
(1,170)
-
(1,170)|
||||
## **3 Summer School**
|Income
Expenditure
Surplus/(Deficit)|**2022**
**£**
30,023
(34,953)
(4,930)|**2021**
**£**
19,025
(28,920)
(9,895)|
|---|---|---|
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**FINCHLEY CHILDREN’S MUSIC GROUP**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 (cont.)**
|**4**
**Net income**
Net income for the year is arrived at after charging:
Audit fee
**5**
**Fixed Assets**
**Cost**
As at 1 Sept 2021
Additions
Disposals
As at 31 August 2022
**Depreciation**
As at 1 Sept 2021
Charged in period
Disposals
As at 31 August 2022
**Net book value**
As at 31 August 2022
As at 1 Sept 2021
**6**
**Stock**
Choir uniforms|**2022**
**£**
**2021**
**£**
1,100
1,100
**Office**
**equipment**
**£**
1,989
1,036
-
3,025
1,989
1,036
-
3,025
**-**
**-**
**2022**
**£**
**2021**
**£**
635
528|
|---|---|
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## **FINCHLEY CHILDREN’S MUSIC GROUP**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 (cont.)**
## **7 Debtors**
|**2022**
**£**
Gift Aid
10,128
Other debtors
1,649
Prepayments
39
11,816
**8**
**Creditors: Amounts falling due within one year**
**2022**
**£**
Other creditors
485
Accruals
18,019
18,504|**2021**
**£**
6,264
266
229
6,759
**2021**
**£**
150
21,738
21,888|
|---|---|
## **9 Related Party**
During the year, the Group has paid £6,200 for IT services provided by a contractor who is related to one of the Trustees.
## **10 Restricted and Designated Funds**
||**Balance**|**Incoming**|**Outgoing**|**Transfer**|**Balance**|
|---|---|---|---|---|---|
||**01.09.21**|||**from**|**31.08.22**|
|||||**General**||
|||||**fund**||
||**£**|**£**|**£**|**£**|**£**|
|Big Give Fund – Restricted|5,980|-|(2,512)|-|3,468|
|TA Fund – Restricted|3,730|-|(1,384)|-|2,346|
|Recording Fund – Designated|10,000|-|-|5,000|15,000|
|Bursary Fund- Designated|4,000|-|(3,896)|4,000|4,104|
||23,710|-|(7,792)|9,000|24,918|
The Big Give Fund covers for a musicianship tutor who provides support to singers to develop their musicianship and singing skills. The TA Fund covers for a teaching assistant post. The Recording Fund has been set aside to allow completion of the recording and commissions, to mark the Group’s 60th anniversary. The Bursary Fund provides financial support to those singers who would otherwise be unable to participate in the activities of the Group.
12