**REGISTERED CHARITY NUMBER: 1160194**
## Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 June 2022
for
Theatre Pipe Organ Preservation Society
Maximus Accountancy Services Limited 47 Kensington Road Chichester West Sussex PO19 7XS
Theatre Pipe Organ Preservation Society
Contents of the Financial Statements for the Year Ended 30 June 2022
|||Page||
|---|---|---|---|
|Reference and Administrative Details||1||
|Report of the Trustees|2|to|3|
|Independent Examiner's Report||4||
|Statement of Financial Activities||5||
|Balance Sheet||6||
|Notes to the Financial Statements|7|to|11|
Theatre Pipe Organ Preservation Society
Reference and Administrative Details for the Year Ended 30 June 2022
|**TRUSTEES**|M J Wooldridge|
|---|---|
||Mrs W J Baker|
||Mrs D S Jenkins|
|**PRINCIPAL ADDRESS**|Ansty House|
||Henfield Road|
||Small Dole|
||West Sussex|
||BN5 9XH|
|**REGISTERED CHARITY**|1160194|
|**NUMBER**||
|**INDEPENDENT EXAMINER**|Maximus Accountancy Services Limited|
||47 Kensington Road|
||Chichester|
||West Sussex|
||PO19 7XS|
|**BANKERS**|Lloyds Bank|
||Haywards Heath|
||West Sussex|
Page 1
Theatre Pipe Organ Preservation Society
Report of the Trustees for the Year Ended 30 June 2022
The trustees present their report with the financial statements of the charity for the year ended 30 June 2022. The trustees have adopted the provisions of 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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The charity was formed on 28 January 2015 with the objective to promote, improve, develop and maintain public education in and appreciation of theatre pipe organ music by, inter alia, the acquisition, maintenance and preservation of organs and the training and education of young musicians who wish to learn the skills of playing theatre pipe organs.
## **Public benefit**
The trustees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission, including guidance on Public Benefit.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
This year was a difficult one for the charity, as it was a period in which our public concerts and dances were able to resume a normal pattern post-pandemic, but in which many of our mainly elderly regular audience had not yet regained their confidence to attend events. Consequently, attendances were down, resulting in some losses for the events earlier in the year, which gradually turned to small profits as the period continued and people became aware that events were on and felt more able to attend. Despite the initial losses, the Trustees felt that holding the events was the only way to effectively send out the message that we were re-entering normal times and, over the period, the slow but gradual increase in attendance seems to have justified this course of action.
Our Academy, run in association with Robertsbridge Community College, had a relatively successful new student recruitment but difficulties remain due to the unsettled atmosphere at the school, with yet another Head of Music due to leave the school immediately after this period ended.
In the coming year we hope to see audience numbers continue to increase back to pre-pandemic levels and, hopefully, to attract new people to experience our historic instruments.
## **FINANCIAL REVIEW**
## **Financial position**
During the year the charity put on 26 events generating ticket receipts of £16,782 and received generous donations of £18,750 including tax recovered. Expenditure on organists, printing tickets, posters and flyers totalled £13,167 providing a net surplus of £22,365 to support the costs of running the Academy. These amounted to £9,375, including support costs, with further charitable expenditure on maintenance of the organs of £671, giving a net surplus on unrestricted funds for the year of £12,319. In addition, depreciation of £2,315 has been charged against the endowment fund, giving an overall surplus for the year of £10,004.
## **Reserves policy**
Surplus funds are held in cash on the Lloyds Bank account and are unrestricted funds available to meet future costs as they arise. The organs are considered to be endowment funds and held as long term assets of the charity. At the end of the year unrestricted reserves amounted to £18,454. On this basis the trustees consider the level of unrestricted reserves to be reasonable.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Theatre Pipe Organ Preservation Society is constituted as a Charitable Incorporated Organisation registered on 28 January 2015.
The trustees named on page 1 have served from commencement, through the period and since the year end. Appointment of trustees is governed by the Constitutional Document of the charity, whereby the existing trustees have the power to appoint further trustees as required. The day to day work of the charity is carried out by the trustees, assisted by voluntary administrative and bookkeeping staff as required.
Page 2
Theatre Pipe Organ Preservation Society
for the Year Ended 30 June 2022
## Report of the Trustees
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
If any further trustees were appointed, they would be introduced to their new role and given copies of the Constitutional Document and a guide to the policies and procedures adopted by the charity. A number of publications from the Charity Commission would also be provided to ensure that new trustees would be aware of the scope of their responsibilities under the Charities Act.
Approved by order of the board of trustees on 4 April 2023 and signed on its behalf by:
Mrs D S Jenkins - Trustee
Page 3
Independent Examiner's Report to the Trustees of Theatre Pipe Organ Preservation Society
## **Independent examiner's report to the trustees of Theatre Pipe Organ Preservation Society**
I report to the charity trustees on my examination of the accounts of Theatre Pipe Organ Preservation Society (the Trust) for the year ended 30 June 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
Hilary Julian BA FCA DChA Maximus Accountancy Services Limited 47 Kensington Road Chichester West Sussex PO19 7XS
8 April 2023
Page 4
Theatre Pipe Organ Preservation Society
## Statement of Financial Activities
## for the Year Ended 30 June 2022
|Unrestricted
Endowment
fund
fund
Notes
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
18,750
-
Other trading activities
2
16,782
-
**Total**
35,532
-
**EXPENDITURE ON**
Raising funds
13,167
-
**Charitable activities**
3
Academy costs
9,375
-
Organ preservation costs
671
2,315
**Total**
23,213
2,315
**NET INCOME/(EXPENDITURE)**
12,319
(2,315)
**RECONCILIATION OF FUNDS**
Total funds brought forward
6,135
259,740
**TOTAL FUNDS CARRIED FORWARD**
18,454
257,425|2022
Total
funds
£
18,750
16,782
35,532
13,167
9,375
2,986
25,528
10,004
265,875
275,879|2021
Total
funds
£
3,125
1,100
4,225
1,127
4,880
6,530
12,537
(8,312)
274,187
265,875|
|---|---|---|
The notes form part of these financial statements
Page 5
Theatre Pipe Organ Preservation Society
## Balance Sheet
## 30 June 2022
|Unrestricted
Endowment
fund
fund
Notes
£
£
**FIXED ASSETS**
Tangible assets
7
-
257,425
**CURRENT ASSETS**
Debtors
8
1,557
-
Cash at bank
17,447
-
19,004
-
**CREDITORS**
Amounts falling due within one year
9
(550)
-
**NET CURRENT ASSETS**
18,454
-
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
18,454
257,425
**NET ASSETS**
18,454
257,425
**FUNDS**
10
Unrestricted funds
Endowment funds
**TOTAL FUNDS**|2022
Total
funds
£
257,425
1,557
17,447
19,004
(550)
18,454
275,879
275,879
18,454
257,425
275,879|2021
Total
funds
£
259,740
53
7,032
7,085
(950)
6,135
265,875
265,875
6,135
259,740
265,875|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 4 April 2023 and were signed on its behalf by:
D S Jenkins - Trustee
The notes form part of these financial statements
Page 6
Theatre Pipe Organ Preservation Society
Notes to the Financial Statements for the Year Ended 30 June 2022
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Tangible fixed assets are carried at fair value which is the trustees' best estimate of their market value. The carrying value will be reviewed on a regular basis and any changes will be adjusted through the Statement of Financial Activities.
Depreciation is provided to write down the carrying value less the estimated residual value of the assets over their expected useful life. In estimating the useful life of the assets the trustees have had regard to the life of the assets to date, and consider that the remaining useful life will be at least as long. On this basis the period chosen is 75 years. No depreciation was provided during the periods ended 30 June 2017 and 30 June 2016 and this has therefore been prospectively adjusted for.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 7
Theatre Pipe Organ Preservation Society
Notes to the Financial Statements - continued for the Year Ended 30 June 2022
## **2. OTHER TRADING ACTIVITIES**
|**OTHER TRADING ACTIVITIES**|||
|---|---|---|
||2022|2021|
||£|£|
|Event ticket sales|16,782|1,100|
## **3. CHARITABLE ACTIVITIES COSTS**
|Academy costs
Organ preservation costs|Support
Direct
costs (see
Costs
note 4)
£
£
8,825
550
2,986
-
11,811
550|Totals
£
9,375
2,986|
|---|---|---|
|||12,361|
Academy costs relate to the costs of providing tuition at the Theatre Pipe Organ Preservation Society Academy (TPOPS Academy) and include payments to the tutor and the cost of second hand electronic home organs for the use of the students.
## **4. SUPPORT COSTS**
|**SUPPORT COSTS**||
|---|---|
||Governance|
||costs|
||£|
|Academy costs|550|
Governance costs consists of amounts payable to the independent examiner of £250 for the independent examination and £300 for other accountancy services.
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 June 2022 nor for the year ended 30 June 2021.
One of the trustees, M J Wooldridge, received payment for services provided as an organist, as disclosed in note 11.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 June 2022 nor for the year ended 30 June 2021.
## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
Endowment
fund
fund
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3,125
-
Other trading activities
1,100
-
**Total**
4,225
-
**EXPENDITURE ON**
Raising funds
1,127
-|Total
funds
£
3,125
1,100|
|---|---|
||4,225|
||1,127|
continued...
Page 8
Theatre Pipe Organ Preservation Society
Notes to the Financial Statements - continued for the Year Ended 30 June 2022
|**6.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Endowment
fund
fund
£
£
**Charitable activities**
Academy costs
4,880
-
Organ preservation costs
4,215
2,315
**Total**
10,222
2,315
**NET INCOME/(EXPENDITURE)**
(5,997)
(2,315)
**RECONCILIATION OF FUNDS**
Total funds brought forward
12,132
262,055
**TOTAL FUNDS CARRIED FORWARD**
6,135
259,740
**7.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 July 2021 and 30 June 2022
**DEPRECIATION**
At 1 July 2021
Charge for year
At 30 June 2022
**NET BOOK VALUE**
At 30 June 2022
At 30 June 2021|Total
funds
£
4,880
6,530
12,537
(8,312)
274,187
265,875
Theatrical
pipe
organs
£
269,000
9,260
2,315
11,575
257,425
259,740|
|---|---|
The charity owns two theatrical pipe organs and one electronic organ which were donated to the charity by Mr Michael Hunt, by way of a deed. The organs were valued by the donor at the date of the gift based on his knowledge of the market. The valuation of the organs will be reviewed periodically by the trustees.
continued...
Page 9
Theatre Pipe Organ Preservation Society
Notes to the Financial Statements - continued for the Year Ended 30 June 2022
## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Other debtors
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**10.**
**MOVEMENT IN FUNDS**
At 1.7.21
£
**Unrestricted funds**
General fund
6,135
**Endowment funds**
Endowment funds
259,740
**TOTAL FUNDS**
265,875
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
35,532
**Endowment funds**
Endowment funds
-
**TOTAL FUNDS**
35,532|2022
2021
£
£
1,462
-
95
53
1,557
53
2022
2021
£
£
550
950
Net
movement
At
in funds
30.6.22
£
£
12,319
18,454
(2,315)
257,425
10,004
275,879
Resources
Movement
expended
in funds
£
£
(23,213)
12,319
(2,315)
(2,315)
(25,528)
10,004|
|---|---|
continued...
Page 10
Theatre Pipe Organ Preservation Society
Notes to the Financial Statements - continued for the Year Ended 30 June 2022
## **10. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|At 1.7.20
£
**Unrestricted funds**
General fund
12,132
**Endowment funds**
Endowment funds
262,055
**TOTAL FUNDS**
274,187
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
4,225
**Endowment funds**
Endowment funds
-
**TOTAL FUNDS**
4,225|Net
movement
At
in funds
30.6.21
£
£
(5,997)
6,135
(2,315)
259,740
(8,312)
265,875
Resources
Movement
expended
in funds
£
£
(10,222)
(5,997)
(2,315)
(2,315)
(12,537)
(8,312)|
|---|---|
Endowment funds consist of the value of the organs settled to the charity at its inception. The endowment fund represents those assets which must be held permanently by the charity. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the endowment fund investments form part of the fund. Unrestricted funds consist of retained surpluses to date. Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objectives.
## **11. RELATED PARTY DISCLOSURES**
M J Wooldridge, a trustee, has been paid fees totalling £9,775 (2021 £2,455) for the year for his services performing as an organist at events, and for providing organ tuition at the TPOPS Academy. The trustees consider that the fees have been charged at an arm's length rate for the services provided. There were no outstanding balances at the balance sheet date.
The trustees are grateful to the original donor, Mr M J Hunt, for maintaining the organs held by the charity at his own expense. The trustees consider that the cost of estimating the value of this donation in kind each year would not be justified by the resulting benefit to users of the accounts.
Page 11