REGISTERED CHARITY NUMBER: 1165633
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
FOR
ASSOCIATION FOR SOUND DESIGN AND PRODUCTION
Xeinadin Swiss Cottage Limited Harben House Harben Parade Finchley Road LONDON NW3 6LH
ASSOCIATION FOR SOUND DESIGN AND PRODUCTION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
| 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 | to | 10 |
ASSOCIATION FOR SOUND DESIGN AND PRODUCTION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. 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 the Association's activity is to represent the interests of sound designers and other sound professionals working and studying in the UK theatre sound industry. Its 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
Throughout the year the Association continued to publish its industry magazine and podcast, whilst organising training courses and conferences for its members. It also helped to arrange public liability insurance for qualifying members. Expenditure on the charitable activities of the Association increased by 36% year on year, driven by an increased number of training events and increased mentoring activity along with the increased cost of arranging public liability insurance. As such, the Trustees consider that the Association of Sound Designers is successfully pursuing its charitable objects.
FINANCIAL REVIEW
Financial position
The Association operated with a deficit of £15,884 for the year to August 2024. Although income from donations increased by 11% year on year, the increased cost of providing public liability insurance in the current year greatly overcame the increased income. The Association's reserves remain healthy however at £37,291. A deficit of this magnitude could be sustained for a further 28 months before the Association experienced any financial difficulty.
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 equivalent to 6 months of the Association's 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.
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ASSOCIATION FOR SOUND DESIGN AND PRODUCTION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1165633
Principal address
18 Parliament Hill Mansions Lissenden Gardens London NW5 1NA
Trustees
L Gibson (resigned 6.1.2025) S R Vincent V Hill P Rice R Stroud E Wahlstrom C Hibberd M Tuckey (appointed 6.1.2025) Ms L D King (appointed 6.1.2025)
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 Xeinadin Swiss Cottage Limited Harben House Harben Parade Finchley Road LONDON NW3 6LH
Approved by order of the board of trustees on 27 May 2025 and signed on its behalf by:
V Hill - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ASSOCIATION FOR SOUND DESIGN AND PRODUCTION
Independent examiner's report to the trustees of Association for Sound Design and Production
I report to the charity trustees on my examination of the accounts of Association for Sound Design and Production (the Trust) for the year ended 31 August 2024.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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
Xeinadin Swiss Cottage Limited Harben House Harben Parade Finchley Road LONDON NW3 6LH
27 May 2025
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ASSOCIATION FOR SOUND DESIGN AND PRODUCTION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
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2024 2023
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 84,318 75,962
Investment income 2 302 80
Total 84,620 76,042
EXPENDITURE ON
Raising funds 3 1,355 1,292
Charitable activities
Magazine production costs 8,023 7,567
Training 25,345 14,140
Conference costs 4,710 12,641
Grants and donations 400 -
Public liability insurance 18,666 7,964
Other 41,703 30,231
Total 100,202 73,835
NET INCOME/(EXPENDITURE) (15,582) 2,207
RECONCILIATION OF FUNDS
Total funds brought forward 53,175 50,968
TOTAL FUNDS CARRIED FORWARD 37,593 53,175
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The notes form part of these financial statements
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ASSOCIATION FOR SOUND DESIGN AND PRODUCTION
BALANCE SHEET 31 AUGUST 2024
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2024 2023
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Tangible assets 7 2,196 2,929
CURRENT ASSETS
Debtors 8 9,048 2,872
Cash at bank 28,747 49,775
37,795 52,647
CREDITORS
Amounts falling due within one year 9 (2,398) (2,401)
NET CURRENT ASSETS 35,397 50,246
TOTAL ASSETS LESS CURRENT LIABILITIES 37,593 53,175
NET ASSETS 37,593 53,175
FUNDS
Unrestricted funds 37,593 53,175
TOTAL FUNDS 37,593 53,175
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The financial statements were approved by the Board of Trustees and authorised for issue on 27 May 2025 and were signed on its behalf by:
V Hill - Trustee
The notes form part of these financial statements
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ASSOCIATION FOR SOUND DESIGN AND PRODUCTION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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...
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ASSOCIATION FOR SOUND DESIGN AND PRODUCTION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
2. INVESTMENT INCOME
| Deposit account interest 3. RAISING FUNDS Raising donations and legacies Support costs |
2024 2023 £ £ 302 80 2024 2023 £ £ 1,355 1,292 |
|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There was no trustees' remuneration or other benefits for the year ended 31 August 2024 nor was there any for the year ended 31 August 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2024 nor were there any for the year ended 31 August 2023.
5. STAFF COSTS
There were no staff costs for the year ended 31 August 2024 nor were there any for the year ended 31 August 2023.
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income |
Unrestricted fund £ 75,962 80 |
|---|---|
| Total | 76,042 |
| EXPENDITURE ON Raising funds Charitable activities Magazine production costs Training Conference costs Public liability insurance Other |
1,292 7,567 14,140 12,641 7,964 30,231 |
| Total | 73,835 |
| NET INCOME | 2,207 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 50,968 |
continued...
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ASSOCIATION FOR SOUND DESIGN AND PRODUCTION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted fund £ |
||
|---|---|---|
| TOTAL FUNDS CARRIED FORWARD | 53,175 | |
| 7. TANGIBLE FIXED ASSETS COST At 1 September 2023 and 31 August 2024 |
Fixtures and fittings £ 3,939 |
Computer equipment Totals £ £ 5,626 9,565 |
| DEPRECIATION At 1 September 2023 Charge for year |
1,010 733 |
5,626 6,636 - 733 |
| At 31 August 2024 | 1,743 | 5,626 7,369 |
| NET BOOK VALUE At 31 August 2024 |
2,196 | - 2,196 |
| At 31 August 2023 | 2,929 | - 2,929 |
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income |
2024 2023 £ £ 9,048 2,872 |
|
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors |
2024 2023 £ £ 2,398 2,401 |
|
| 10. RELATED PARTY DISCLOSURES |
There were no related party transactions for the year ended 31 August 2024.
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ASSOCIATION FOR SOUND DESIGN AND PRODUCTION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
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2024 2023
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 84,318 75,962
Investment income
Deposit account interest 302 80
Total incoming resources 84,620 76,042
EXPENDITURE
Charitable activities
Training costs 25,345 14,140
Conference costs 4,710 12,635
Magazine production costs 7,766 7,567
Public liability insurance 18,666 7,964
Sundries 257 -
Grants to institutions 400 -
57,144 42,306
Support costs
Management
Travel 3,293 1,847
Finance
Bank charges 1,355 1,292
Information technology
Website hosting 3,328 3,234
Software costs 757 584
4,085 3,818
Human resources
Administration costs 27,090 19,584
Other
Storage costs 1,808 1,650
Insurance 532 431
Postage and stationery 838 -
Sundries 831 6
Subscriptions 93 -
4,102 2,087
Depreciation
Depreciation 733 501
Governance costs
Accountancy 2,400 2,400
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This page does not form part of the statutory financial statements
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ASSOCIATION FOR SOUND DESIGN AND PRODUCTION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
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2024 2023
£ £
Total resources expended 100,202 73,835
Net (expenditure)/income (15,582) 2,207
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This page does not form part of the statutory financial statements
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