Fleetville Swing Band Report and Financial Statements for the year ended 31 August 2021
Trustees' Report and Financial Statements for the year to 31 August 2021
Charity No: 1170472
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Fleetville Swing Band Report and Financial Statements for the year ended 31 August 2021
The trustees are pleased to present their annual report and the financial statements of the charity for the year ended 31 August 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1, the Charities Act 2011, the charity's constitution and the Statement of Recommended Practice applicable to charities preparing accounts in accordance with FRS 102.
Objectives and activities
Purpose
The purpose of the charity, as defined in its governing document is to advance, improve, develop and maintain public education in, and appreciation of, the art and science of music in all its aspects by any means the trustees see fit, including through the presentation of public concerts.
Main activities
Fleetville Swing Band fulfils this purpose by:
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inviting members of the community to join regular rehearsals
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performing at local charity and community events
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organising its own musical performances for the general public.
Public benefit statement
The trustees have had regard to the guidance issued by the Charity Commission on public benefit, including the guidance on fee charging.
Fleetville Swing Band often performs at local charity and community events free of charge. When organising its own events, the trustees consider the affordability of fees to ensure the widest possible access to its musical performances. Membership subscriptions are not compulsory.
Achievements and performance
The Covid-19 pandemic shaped our activity throughout this financial year. With tremendous resolve and support from the whole band, we navigated the risks, rules and restrictions to continue to rehearse and perform when government guidance allowed.
During the November 2020 and Winter 2021 lockdowns, we continued to meet on Zoom and produced virtual performances of ‘Rudolph the Red Nosed Cha Cha’ and ‘Feeling Good’, gratefully arranged and created by our Musical Director, Bob Power. In November 2020, we celebrated our 10[th] anniversary with a photo montage and Zoom event attended by thirty current and former members.
When restrictions were relaxed, we rehearsed outdoors at Clarence Park cricket pavilion from 1 September to 1 November 2020, wrapped up again for a Christmas rehearsal on 13 December and restarted regularly from 18 May 2021. This enabled us to reach performance standard quickly and take up a ‘Jazz in the Park’ summer residency organised by Verdi’s restaurant, with support from St Albans District Council. In Summer 2021, we performed in Clarence Park on four occasions to large and enthusiastic audiences, delighted to hear live music once again.
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Fleetville Swing Band Report and Financial Statements for the year ended 31 August 2021
Financial review
Impact of COVID-19
The Government updated its guidance for the performing arts on 13 August 2020, which allowed rehearsals to resume in a COVID secure venue, subject to adopting strict risk mitigation measures. The trustees followed the guidance provided by Making Music, the membership association for leisure time music groups, to continue rehearsing outdoors.
Fortunately, FSB has strong financial reserves and we were able to meet the additional costs of protective measures, and offer reimbursement of membership subscriptions over the period of lockdown, without a detrimental impact on our financial position. At 31 August 2020, a provision was made for unclaimed refundable subscriptions. In December 2020, members voted to donate their refunds, totalling £655 to Rennie Grove Hospice, in lieu of our normal Christmas fundraising event.
Financial position
The income of the charity for the year was £2,810 (2020: £1,050). Expenditure was £1,940 (2020: £597), resulting in net income of £870 (2020: £453). The increase in both income and expenditure reflects the income and costs of performing three times towards the end of this financial period and the continuation of rehearsal costs when restrictions allowed. In comparison, all paid performances were cancelled during the previous financial year.
At 31 August 2021, total reserves were £8,642 (2020: £7,772), comprising general funds of £7,642 (2020: £6,772) and two designated funds of £500 each. The purpose of these funds is explained in the notes to the accounts.
General reserves are held in the expectation that the costs of musical direction and arrangements will increase significantly in future. Holding reserves will allow for a smooth transition to a new financial model. With a strong reserve position, the trustees are confident that Fleetville Swing Band remains a going concern.
Structure, governance and management
Fleetville Swing Band is a Charitable Incorporated Organisation (CIO) with voting members, registered with the Charity Commission on 30 November 2016. It is governed by its constitution, adopted on 11 September 2016. The charity inherited the assets and activities of Fleetville Swing Band, a society established in 2010 with similar objects.
Governance
The trustees of Fleetville Swing Band are responsible for the governance of the charity. Trustees are elected by the members for a three year term, after which they must stand for re-election. There are currently six trustees.
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Fleetville Swing Band Report and Financial Statements for the year ended 31 August 2021
Membership is open to anyone interested in furthering the purposes of the charity. At 31 August 2021, there were 38 members (2020: 37 members). Full member meetings, including an AGM, are held at least once a year where members vote to decide on decisions such as the appointment of new trustees. At other times, members delegate decision-making to a committee comprising the trustees and any other members who wish to attend. A minimum of three committee meetings are held each year.
Future plans
We continued rehearsing throughout the summer of 2021, without our usual break and returned to Covid-19 risk assessed, indoor rehearsals from 19 October 2021.
Although total membership remained consistent during the period, some members chose not to return after the Spring 2020 lockdown. However, an unexpected benefit of continuing activity was our ability to attract new members across all sections of the band. We have emerged larger and potentially stronger than ever but our challenge now is to re-organise, reenergise and manage expectations after the difficulties of the past two years.
Reference and administrative details
Trustees Alex Gould Chair Matthew Cox Secretary Resigned & re-appointed 16 March 2021 Helen Evans Treasurer Resigned & re-appointed 16 March 2021 Anthony Pulley Resigned & re-appointed 15 March 2022 Cameron Ross Aidan Saunders Resigned & re-appointed 15 March 2022
Principal address
23 Beaumont Avenue St Albans Hertfordshire AL1 4TL
Website: www.fleetvilleswingband.co.uk
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees:
Signature Alex Gould Helen Evans Full name Alex Gould Helen Evans Position Chair Treasurer Date 15 March 2022 15 March 2022
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Fleetville Swing Band Statement of financial activities for the year ended 31 August 2021 (including income and expenditure account)
| Note Income from: Donations 2 Charitable activities 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net income Reconciliation of funds Total funds brought forward Total funds carried forward 8 |
Unrestricted funds 2020/21 2019/20 £ £ 1,510 1,050 1,300 - 2,810 1,050 1,940 597 1,940 597 870 453 7,772 7,319 8,642 7,772 |
Unrestricted funds 2020/21 2019/20 £ £ 1,510 1,050 1,300 - 2,810 1,050 1,940 597 1,940 597 870 453 7,772 7,319 8,642 7,772 |
|---|---|---|
| 1,050 | ||
| 597 | ||
| 597 | ||
| 453 | ||
| 7,319 | ||
| 7,772 |
The notes on the accompanying pages form part of the financial statements.
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Fleetville Swing Band Balance sheet at 31 August 2021
| Note Current assets Stock of CDs Debtors 6 Cash at bank and in hand Creditors:amounts falling due within one year 7 Net current assets The funds of the charity Unrestricted funds: General funds 8 Designated funds 8 Total charity funds 8 |
31 August 2021 £ 250 471 7,926 8,647 5 8,642 £ 7,642 1,000 8,642 |
31 August 2020 £ 250 82 8,120 |
|---|---|---|
| 8,452 680 |
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| 7,772 | ||
| £ 6,772 1,000 |
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| 7,772 |
The notes on the accompanying pages form part of the financial statements.
The financial statements were approved by the members and authorised for issue by the trustees on 15 March 2022 by:
Alex Gould
Helen Evans
Alex Gould .......................... Chair ...................................
Helen Evans Treasurer
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Fleetville Swing Band Notes to the financial statements for the year ended 31 August 2021
1) Principal accounting policies
General information and basis of preparation
The charity constitutes a public benefit entity as defined by FRS 102. It is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England & Wales. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The charity has taken advantage of the small charity disclosure exemption permitted by the SORP and has not presented a statement of cash flows.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Preparation of the accounts on a going concern basis
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The trustees believe that the immediate future of the charity is secure for the next 18 months and is a going concern.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees to further the general objects of the charity and which have not been designated for other purposes.
Designated funds are unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable the income will be received and the amount can be measured reliably. Income which is subject to conditions before the charity is entitled to the funds, is deferred and not recognised until those conditions are met.
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Fleetville Swing Band Notes to the financial statements for the year ended 31 August 2021
1) Principal accounting policies (continued)
Income (continued)
Donated goods and services are included at the fair value to the charity where this can be quantified and a third party is bearing the cost. In accordance with the Charities SORP (FRS102), no amounts are included in the financial statements for services donated by volunteers.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable the settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Support costs are the cost of functions that assist the work of the charity but do not directly undertake charitable activity. They include IT and governance costs
Tangible fixed assets and depreciation
Tangible fixed assets costing £1,500 or more are capitalised at cost and depreciated over their estimated useful economic lives on the following straight line basis:
Equipment ............................ 20% per annum
Stock
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stock.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Financial instruments
The charity only has financial assets and financial 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.
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Fleetville Swing Band Notes to the financial statements for the year ended 31 August 2021
1) Principal accounting policies (continued)
Taxation
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010. It therefore meets the definition of a charity for UK corporation tax purposes.
2) Donations
| Member subscriptions collected Provision for subscription refunds 3) Income from charitable activities Other performance fees 4) Expenditure on charitable activities Musical direction & rehearsal costs Performance costs Equipment costs PPE & other Covid-19 mitigations Support costs |
2021 £ 1,510 - 1,510 2021 £ 1,300 1,300 2021 £ 401 592 308 299 340 1,940 |
2020 £ 1,730 (680) |
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|---|---|---|---|---|
| 1,050 | ||||
| 2020 £ - |
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| - | ||||
| 2020 £ 324 - 53 - 220 |
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| 597 |
Support costs include insurance, PRS fees where due, website and other administration and compliance costs.
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Fleetville Swing Band Notes to the financial statements for the year ended 31 August 2021
5) Staff and trustees
The charity does not employ staff. None of the trustees are remunerated and no trustee received reimbursement of expenses incurred in the role of trustee during the period (2020: none).
6) Debtors
| 2021 £ Prepayments & accrued income 435 Other debtors 36 471 ) Creditors: amounts falling due within one year 2021 £ Deferred income 5 Provision for subscription refunds - 5 |
2020 £ 82 - |
|---|---|
| 82 | |
| 2020 £ - 680 |
|
| 680 |
7) Creditors: amounts falling due within one year
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Fleetville Swing Band Notes to the financial statements for the year ended 31 August 2021
8) Funds
| Balance at 31 August 2020 Net income for the year Balance at 31 August 2021 |
General funds 6,772 870 7,642 |
Designated funds 1,000 - 1,000 |
Unrestricted funds £ 7,772 870 |
|---|---|---|---|
| 8,642 |
General funds are held in the expectation that the costs of musical direction and sourcing musical arrangements will increase in the future.
Designated funds are held for specific purposes relating to the charity's origins as part of a wider community organisation. The Paul Olive Memorial Fund of £500 was established in memory of the band's founder to provide grants for new musical ventures in the Fleetville area of St Albans. The Fleetville Festival Fund of £500 is available to other groups who wish to organise similar community events in the future.
| Prior year Balance at 31 August 2019 Net income for the year Balance at 31 August 2020 |
General funds 6,319 453 6,772 |
Designated funds 1,000 - 1,000 |
Unrestricted funds £ 7,319 453 |
|---|---|---|---|
| 7,772 |
9) Related party transactions
Helen Evans (trustee & Treasurer) is the Finance Director of Making Music, a supplier of insurance and membership services to FSB totalling £180 in 2021 (2020: no related party transactions).
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Fleetville Swing Band Notes to the financial statements for the year ended 31 August 2021
Statement of financial activities for the year ended 31 August 2020
| Income from: Donations Charitable activities Other trading activities Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds 2019/20 2018/19 £ £ 1,050 1,920 - 850 - 25 1,050 2,795 - 10 597 1,456 597 1,466 453 1,329 7,319 5,990 7,772 7,319 |
Unrestricted funds 2019/20 2018/19 £ £ 1,050 1,920 - 850 - 25 1,050 2,795 - 10 597 1,456 597 1,466 453 1,329 7,319 5,990 7,772 7,319 |
|---|---|---|
| 2,795 | ||
| 10 1,456 |
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| 1,466 | ||
| 1,329 | ||
5,990 |
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| 7,319 |
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