FINCHLEY CHILDREN'S MUSIC GROUP Registered Charity number 1160096 TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 INDEX PAGE TRUSTEES, REPORT INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FINCHLEY CHILDREN'S MUSIC GROUP STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 AUGUST 2024 BALANCE SHEET AT 31 AUGUST 2024 io NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 li
FINCHLEY CHILDREN'S MUSIC GROUP GENERAL INFORMATION Address: 76 St James's Lane Muswell Hill London NIO 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 4Ja CCLA Investment Management Limited 85 Queen Victoria Street London EC4V 4ET
FINCHLEY CHILDREN'S MUSIC GROUP TRUSTEES, REPORT The trustees present their report and audited financial statements for the year ended 31 August 2024. Description of Group Finchley Children's Music Group {'The Group,) is a Charitable Incorporated Organisation {ClOI 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. Objective5 and activitles 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 During 2023-24 the Group performed in many concerts, recordings and broadcasts involving singers from all the choirs in the Group. In addition to FCMG'S own concerts the choirs performed in a number of external events. The Intermediate Choir singers were invited to take part in 'Girlguiding celebrates, at the ODEON Luxe cinema in Leicester Square. It was a red-carpet event, supporting celebrations for Girlguiding volunteers that had achieved special awards for their volunteering work. A group of our Intermediate and Senior Choir singers joined the Aurora Orchestra to record two new commissions for 'Aurora Classroom,, which offers a library of music resource5 aimed to support exciting music-making in primary schools. The older singers in Senior and Chamber Choirs shared a joint concert with Finchley Choral Society in the spring and they showcased their amazing musicianship in the Late Spring concert with several solos and ensembles. Intermediate Choirjoined Genesis Sixteen for a workshop at the Sounds Sublime Festival in Stjames, singing in a massed junior choir as well as showcasing their own work. The Summer School residential week was a production of the Gondoliers, fully staged in just a week with plenty of comedy and professional performances. For the tenth anniversary of BBC Ten Pieces the focus was on female comp05ers through the ages. A small group of Senior Choir singers filmed Magic from Judith Weir's new composition Storm, at Alexandra Palace Theatre with members of the BBC Concert Orchestra and the BBC Singers. A highlight of the year wa5 our celebration of 65 years. We held a celebratory day, inviting alumni and parents of current singers to join a Come & Sing of Faure Requiem with Senior and Chamber Choirs, learning from scratch and a lunch to catch up, before performing the full piece. This was swiftlv followed with a concert of the younger choirs, Intermediate Choir and Beginner Choir and with singers
FINCHLEY CHILDREN'S MUSIC GROUP from Dots performing for the first time with the Group. It was particularly special to see such a variety of different aged singers performing through the afternoon. The Group had a very successful fundraising initiative through the Big Give Arts for Impact campaign in March 2024 to raise money for the provision of musicianship tuition. This provides support to singers in Intermediate Choir a nd for some older singers, to develop their musicianship and singing skills. We were also very thankful for the support of the Loder Family Charitable Trust for their contribution to the bursary fund to support singers who might otherwise be unable to participate. We are particularly grateful to the Tioc Foundation, whose donation made our 65th Anniversary Celebration possible. Future Plans We are looking forward to a number of upcoming events, including recording with Aurora Orchestra, performing for the KIDS charity for disabled children for their Christmas concert, and to a recording with the London Philharmonic Orchestra of Prokofiev Winter Bonfire, Financial Review The Group incurred a surplus on the General Fund of £4,204 {2023-. surplus £10,775} and a surplu5 of £1,14112023: surplus £4,441) on the Restricted and Designated Fund which includes expenditure of £5,44812023: £2,586) on bursaries for membership and for the residential Summer School. The trustees aim to maintain reserves at a level which provides for foreseeable expenditure and any significant fluctuations 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. We are now planning towards requirements for 70th and 75th anniversarie5. At 31st August 2024, the level of free reserves was £51,50812023'. £51,735). 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 funds. During the year, the Group enabled sixteen children to be member5 of the choirs through bursaries of 33-80% reduced fees and supported eight places at up to 50% cost for the residential Summer School. Trustees The trustee5 who Served during the year were: Theresa Ward (Chairl Spyridoula Kalodiki (Treasurer) Paul Guenault (Secretary) Sarah Phillips Judith lacovou Michael Brookes Polly Richards (to 31 August 2024) Julian Saipe (to 15 November 20241 Kunal Dutta (from 19 May 20241
FINCHLEY CHILDREN'S MUSIC GROUP The trustees declare that they have approved the trustees, report set out on pages three and four above. Signed on behalf of all the trustees. Theresa Ward Chair Spyridoula Kalodiki Treasurer Date: 15. 0<. 2OJS
FINCHLEY CHILDREN'S MUSIC GROUP INDEPENDENT AUDITORS, REPORTTO THE TRUSTEES OF FINCHLEY CHILDREN'S MUSIC GROUP Opinion We have audited the financial statements of Finchley Children'5 Music Group (the 'charity'l for the vear ended 31st August 2024 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: st 'give a true and fair view of the state of the charity's affairs as at 31 August 2024, and of its incoming resource5 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 IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical req uirements that are relevant to our audit of the financial statement5 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 month5 from when the f inancia I statements are authorised for issue. Our responsibilities and the responsibilities of the trustee5 Wlth 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 auditorfs 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 financial statements, our responsibility is to read the other information and, in doing so, consider whether the
FINCHLEY CHILDREN'S MUSIC GROUP other information 15 materially incon5iStent 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 record5 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 a5 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. Auditorfs responslbilities 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 regulation5 made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material mi55tatement, whether due to fraud or error, and to issue an auditorfs 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 IUKI 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).
FINCHLEY CHILDREN'S MUSIC GROUP • We had regard to laws and regulation5 in areas that directly affect the financlal statements. • We considered the extent of compliance w¢th those laws and regulations as part of our procedu on the related financial statement items. With the exception of any known or possible non-compliance. and as reqUId by auditing standards, our work in respect of these was limited to enquiry of the Trustees. We communicated identified laws and regulations and remained alert to any indications of non-compliance throughout the audit. 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 testin8 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 Counciys webslte at. www.frc.o auditorsres onsibilitie5. This description forms part of our auditorfs report. Use of our report This report is made solely to the charivs trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2(X)8. Our audit work has been undertaken so that we might state to the charity's trustee5 those matters we are required to state to them in an Audltors, report and for no other purpose. To the fvllest 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 audlt work, for this report, or for the opinions we have formed. Peter Weiss BSC, MSC, FCA (Senior Statutory Auditor) for and on behalf of Leapman Weiss- Statutory Auditof Chartered Accountants. Unit 6, 30 Friem Park, London, N12 9DA Date: 15. 05. 2025
FINCHLEY CHILDREN'S MUSIC GROUP STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 AUGUST 2024 Restricted General Designated Fund Funds 2024 Total 2023 Total Income from charitable activities: Subscriptions Gift aid Donations and fundraising Royalties Sundry income 65,407 11,507 318 179 12,658) 699 11,798 62,749 12,206 12,116 179 67,146 13,526 10,482 679 1,560 1,560 1,372 Total income 78,971 9,839 88,810 93,205 Expenditure on charitable activities: Direct musical expenditure Summer school {Note 31 Performances and recordings (Note 21 Music 3,197 {1,596) 3,146 8,998 33,292 2,790 3,941 5,987 2,345 3,146 8,998 35,259 1275) {4,236) 2,267 9,855 37,672 Rehearsal c05ts- hire of hall and piano Rehearsal costs.. fees to music staff 1,967 Direct charitable administration Fees to administrator Advertising and recruitment Bank fees Depreciation Gifts Insurance Printing, postage, stationery, telephone IT Cost Sundry expenses 18,403 2,180 74 18,403 2.180 74 1,006 154 27,402 74 1,006 154 283 Iii 269 1,546 334 1,970 283 1,556 180 2,794 1,556 180 2,794 73,667 8,698 82,365 76,989 Governance costs Audit Total expenditure 1,100 74,767 1,100 83,465 1,000 77,989 8,698 Net income/{expenditure) Gross transfers between funds Net movement in funds 4,204 14,431) (227) 1,141 4,431 5,572 5,345 15,216 5,345 15,216 Total funds brought forward Total funds carried forward There were no recoEni5ed gains or losses otherthan the result for the period.
FINCHLEY CHILDREN'S MUSIC GROUP BALANCE SHEET AT 31 AUGUST 2024 Note 2024 2023 Fixed assets Current assets Stock Debtors Cash at bank and in hand 1,907 12,134 102 650 644 13,523 101643 116,691 115,810 Creditors; Amounts falling due within one year Net current assets 91,439 86,094 Total assets less current liabilities 91,439 86,094 Net assets Funds of the Charity: Unrestricted fund Restricted funds Designated funds 51,508 14,872 25,059 51,735 10.341 24,018 Total Signed on behalf of the trustees: Theresa Ward Chair Spyridoula Kalodiki Treasurer Date.. lf.of JDkJ- 10
FINCHLEY CHILDREN'S MUSIC GROUP NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 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 ISORPI; applicable accounting standards and the Charities Act 2011. The following paragraphs describe the main accounting policies. 1.2 Income represents choir member5, subscriptions and surpluses from performances, the Group's Summer School and other workshop5. 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 Lia bilities 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 a55ets 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. Performances and recordings 2024 2023 Income Expenditure before project costs Surpluslldeficit) 9,626 (11,9711 26,787 122,5511 Summer School 2024 2023 Income Expenditure Surplus/lDeficit) 43,109 149,0961 40,050 139,7751 275 li
FINCHLEY CHILDREN'S MUSIC GROUP NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 (cont.) Net income Net income for the year is arrived at after charging: 2024 2023 Audit fee Fixed Assets Office equipment Cost As at I Sept 2023 Additions Disposals As at 31 August 2024 3,025 1,006 Depreciation As at I Sept 2023 Charged in period Disposals As at 31 August 2024 3,025 1,006 Net book value As at 31 August 2024 As at I Sept 2023 Stock 2024 2023 Choir uniforms 644 12
FINCHLEY CHILDREN'S MUSIC GROUP NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 (cont.) Debtors 2024 2023 Gift Aid 11,825 210 13,414 109 Other debtors Prepayments 99 Creditors: Amounts falling due within one year 2024 2023 Other creditor5 Accruals 293 920 24,959 28,796 Restricted and Designated Funds Balance Incoming Outgoing 01.09.23 Transfer from General fund Balance 31.08.24 Big Give Fund - Restricted TA Fund- Restricted Recording Fund - Designated Bursary Fund- Designated Concerts Fund- Designated 6,555 3,786 15,000 4,018 5,000 6,498 1397) 11,570) 12,656 2,216 15,000 4,000 6,059 1,000 5,000 15,4491 13,941) 4,43 1 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. The Concert Fund will cover future performances. 13