**REGISTERED CHARITY NUMBER: 1165633**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **FOR**
## **THE ASSOCIATION OF SOUND DESIGNERS**
KBSP Partners LLP Chartered Accountants Harben House Harben Parade Finchley Road LONDON NW3 6LH
**THE ASSOCIATION OF SOUND DESIGNERS**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|8|
|**Detailed Statement of Financial Activities**||9||
## **THE ASSOCIATION OF SOUND DESIGNERS**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 August 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 objects of the Association of Sound Designers are the advancement of education and the advancement of the arts, and in particular to promote and raise standards, and provide education, training, professional know-how and development to students, graduates, emerging and established professionals in the art, skills and technology of sound design and live performance.
Part of our activity is to represent the interests of sound designers and other sound professionals working and studying in the UK theatre sound industry. Our function is to connect the widely dispersed sound design community, to educate and promote high standards. Alongside this the Association of Sound Designers promotes the development of future professionals into the industry providing training, networking and access to resources allowing both career and skills development.
## **Public benefit**
The Trustees affirm that the advancement of the Association's objectives through the actives it undertakes do provide a benefit to the public as defined in the Charities Act 2011.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Trustees consider that the Association of Sound Designers is successfully pursuing its objects.
## **FINANCIAL REVIEW**
## **Financial position**
The Association remains in good financial health, despite a deficit of £1,167 during the year, with reserve funds of £50,968 at the year end.
## **Investment policy and objectives**
The Trustees have the power to make financial investments, it does not however currently engage in financial investments of any kind.
## **Reserves policy**
The trustees regularly review the levels of cash reserves that the Association holds and makes projections for the coming financial years, so that any necessary financial planning actions can be taken in a prudent, timely manner.They endeavour to maintain a sum of £15,000 to cover 6 months costs and commitments.
## **FUTURE PLANS**
The Trustees will continue to ensure that the Association fulfils its objects faithfully.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Association of Sound Designers is a Charitable Incorporated Organisation (Registered Charity No. 1165633), governed by its Constitution, which was last approved prior to registration on 2nd February 2016.
## **Recruitment and appointment of new trustees**
The Trustees are appointed each year at the Annual General Meeting. The trustees meet at regular intervals.
## **Risk management**
The Trustees have a duty to identify risks that the Association may be exposed to and are satisfied that appropriate controls are in place, i.e. that any such risks are discussed at Trustee Meetings.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1165633
Page 1
**THE ASSOCIATION OF SOUND DESIGNERS**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022**
## **Principal address**
57 Whitelow Road Manchester M21 9HJ
## **Trustees**
Ms B Blackler (resigned 6.1.2022) Ms M Wilson L Gibson S R Vincent Ms V Hill R A Bettle (resigned 6.1.2022) P Rice (appointed 6.1.2022) Ms R Stroud (appointed 6.1.2022) Ms E Wahlstrom (appointed 4.1.2023) Ms C Hibberd (appointed 4.1.2023)
None of the Trustees have any financial interest in the Association. All of the trustees give their time voluntarily and receive no payments from the Association.
If the Charitable Incorporation Organisation is wound up, the members of the Association have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
## **Independent Examiner**
David Myerson FCA KBSP Partners LLP Chartered Accountants Harben House Harben Parade Finchley Road LONDON NW3 6LH
Approved by order of the board of trustees on 20 March 2023 and signed on its behalf by:
L Gibson - Trustee
Page 2
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF**
**THE ASSOCIATION OF SOUND DESIGNERS**
## **Independent examiner's report to the trustees of The Association of Sound Designers**
I report to the charity trustees on my examination of the accounts of The Association of Sound Designers (the Trust) for the year ended 31 August 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.
David Myerson FCA KBSP Partners LLP Chartered Accountants Harben House Harben Parade Finchley Road LONDON NW3 6LH
20 March 2023
Page 3
## **THE ASSOCIATION OF SOUND DESIGNERS**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022**
**----- Start of picture text -----**
2022 2021
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 67,484 47,095
EXPENDITURE ON
Raising funds 621 3,559
Charitable activities
-
Magazine production costs 6,181
Training
18,256 4,708
Conference costs - Room hire 7,032 600
Other 36,561 21,691
Total 68,651 30,558
NET INCOME/(EXPENDITURE) (1,167) 16,537
RECONCILIATION OF FUNDS
Total funds brought forward 52,135 35,598
TOTAL FUNDS CARRIED FORWARD 50,968 52,135
**----- End of picture text -----**
The notes form part of these financial statements
Page 4
**THE ASSOCIATION OF SOUND DESIGNERS**
## **BALANCE SHEET 31 AUGUST 2022**
**----- Start of picture text -----**
2022 2021
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Tangible assets 5 3,430 128
CURRENT ASSETS
Debtors 6 214 -
Cash at bank 49,724 57,136
49,938 57,136
CREDITORS
Amounts falling due within one year 7 (2,400) (5,129)
NET CURRENT ASSETS 47,538 52,007
TOTAL ASSETS LESS CURRENT LIABILITIES 50,968 52,135
NET ASSETS 50,968 52,135
FUNDS
Unrestricted funds 50,968 52,135
TOTAL FUNDS 50,968 52,135
**----- End of picture text -----**
The financial statements were approved by the Board of Trustees and authorised for issue on 20 March 2023 and were signed on its behalf by:
L Gibson - Trustee
The notes form part of these financial statements
Page 5
**THE ASSOCIATION OF SOUND DESIGNERS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **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**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance Computer equipment - Straight line over 3 years
## **Taxation**
The charity is exempt from tax on its charitable activities on income and gains to the extent that these are applied to its charitable objects.
## **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.
## **Debtors**
Donations receivable and other debtors are recognised at the settlement amount due after any reductions offered. Prepayments are valued at the amount prepaid net of any discounts due.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and short term liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit of similar account.
## **Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **Financial instruments**
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
continued...
Page 6
**THE ASSOCIATION OF SOUND DESIGNERS**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022**
## **2. TRUSTEES' REMUNERATION AND BENEFITS**
There was no trustees' remuneration or other benefits for the year ended 31 August 2022 nor was there any for the period ended 31 August 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.
## **3. STAFF COSTS**
There were no staff costs for the year ended 31 August 2022 nor were there any for the period ended 31 August 2021.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies|Unrestricted
fund
£
47,095|
|---|---|
|**EXPENDITURE ON**
Raising funds
**Charitable activities**
Training
Conference costs - Room hire
Other|3,559
4,708
600
21,691|
|**Total**|30,558|
|**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward|16,537
35,598|
|**TOTAL FUNDS CARRIED FORWARD**|52,135|
continued...
Page 7
## **THE ASSOCIATION OF SOUND DESIGNERS**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022**
## **5. TANGIBLE FIXED ASSETS**
|**5.**
**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|
|**COST**
At 1 September 2021
Additions|Fixtures
and
fittings
£
**79**
**3,860**|Computer
equipment
£
**5,626**
**-**|Totals
£
**5,705**
**3,860**|
|At 31 August 2022|**3,939**|**5,626**|**9,565**|
|**DEPRECIATION**
At 1 September 2021
Charge for year|**63**
**474**|**5,514**
**84**|**5,577**
**558**|
|At 31 August 2022|**537**|**5,598**|**6,135**|
|**NET BOOK VALUE**
At 31 August 2022|**3,402**|**28**|**3,430**|
|At 31 August 2021|16|112|128|
|**6.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income||**2022**
**£**
**214**|2021
£
-|
|**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors||**2022**
**£**
**-**
**2,400**|2021
£
2,820
2,309|
|||**2,400**|5,129|
|**8.**
**RELATED PARTY DISCLOSURES**||||
There were no related party transactions for the year ended 31 August 2022.
Page 8
**THE ASSOCIATION OF SOUND DESIGNERS**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022**
**----- Start of picture text -----**
2022 2021
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 67,484 47,095
Total incoming resources 67,484 47,095
EXPENDITURE
Raising donations and legacies
Subscriptions 621 3,559
Charitable activities
Training costs 18,256 4,708
Conference costs 7,032 600
-
Magazine production costs 6,181
31,469 5,308
Support costs
Management
Travel 402 -
Finance
Bank charges 1,137 887
Information technology
Website hosting 3,445 1,227
Software costs 666 86
4,111 1,313
Human resources
Administration costs 19,344 10,722
Other
Insurance 8,592 6,159
Sundries 17 211
8,609 6,370
Depreciation
Fixtures and fittings 474 5
Computer equipment 84 84
558 89
Governance costs
Accountancy 2,400 2,310
Total resources expended 68,651 30,558
Net (expenditure)/income (1,167) 16,537
**----- End of picture text -----**
This page does not form part of the statutory financial statements
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