Fleetville Swing Band Report and Financial Statements for the year ended 31 August 2023
Trustees' Report and Financial Statements for the year to 31 August 2023
Charity No: 1170472
1
Fleetville Swing Band Report and Financial Statements for the year ended 31 August 2023
The trustees are pleased to present their annual report and the financial statements of the charity for the year ended 31 August 2023. 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:
-
inviting members of the community to join regular rehearsals
-
performing at local charity and community events
-
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 low and not compulsory.
Achievements and performance
This year marked the return to a ‘normal’ pattern of fortnightly rehearsals and regular performances.
This included three return outings to Clarence Park, St Albans in September 2022, May and July 2023 for ‘Jazz in the Park’, organised by Verdi’s restaurant. The July date was notable for the torrential downpour minutes after we started our set - the wettest of our +100 gigs, so far. In December 2022, we returned to our home ground of Fleetville Infant School to provide a festive atmosphere for their Christmas Fair and to St Saviour’s Church for our regular Christmas Tree Festival performance.
The highlight of our year was ‘Swing into the Jet Age’, a concert performance under the wings of the Mosquito aircraft at the DeHavilland Aircraft Museum. On a hot summer’s day, a full big band of thirty members entertained the crowd and inspired impromptu jive dancers with a specially prepared set of 1940’s favourites. The event was a huge success and we have been invited back to perform again in 2024.
2
Fleetville Swing Band Report and Financial Statements for the year ended 31 August 2023
Financial review
Financial position
The income of the charity for the year was £3,245 (2022: £3,355). Expenditure was £3,403 (2022: £2,591), resulting in net expenditure of £158 (2022: net income of £764). The result reflects the additional cost of a new PA system this year.
At 31 August 2023, total reserves were £9,249 (2022: £9,406), comprising general funds of £8,249 (2022: £8,406) and two designated funds of £500 each. The purpose of these funds is explained in the notes to the accounts. We opened a bank deposit account at the end of the year to take advantage of higher available interest rates to earn income from these funds.
General reserves are held in the expectation that the costs of musical direction and arrangements will increase significantly in future. We have contracted a new musical director from October 2023 and holding reserves will allow for a smooth transition to this 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 (2022: six) trustees.
3
Fleetville Swing Band Report and Financial Statements for the year ended 31 August 2023
Membership is open to anyone interested in furthering the purposes of the charity. We experienced some turnover in membership during and after the pandemic but this has settled to a committed base of members who regularly attend rehearsals and performances. At 31 August 2023, there were 34 members (2022: 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
Our event at DeHavilland inspired two future bookings for 2024: a return to the museum and a performance at the Burford Festival in the Cotswolds. We will continue to look at new opportunities to perform and reach a wider audience.
We are immensely grateful to Bob Power, David Forbes, Ant Pulley, Andy Henderson, Cameron Ross and others for directing the band since its inception. Following our trial of guest musical directors in 2022 and 2023, we have decided on a more permanent solution and appointed renowned professional jazz drummer, Dave Tandy, to take over this role from October 2023.
Reference and administrative details
| Trustees | ||
|---|---|---|
| Matthew Cox | Chair | Resigned & re-appointed 16 April 2024 |
| Helen Evans | Treasurer | Resigned & re-appointed 16 April 2024 |
| Sirina Wooster | Secretary | Appointed 16 April 2024 |
| Alex Gould | Resigned & re-appointed 18 April 2023 | |
| Cameron Ross | Resigned & re-appointed 18 April 2023 | |
| Aidan Saunders | Resigned 18 April 2023 | |
| Adrian Strain | Appointed 18 April 2023 |
Principal address 23 Beaumont Avenue St Albans Hertfordshire AL1 4TL 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 | Matthew Cox | Helen Evans |
|---|---|---|
| Full name | Matthew Cox | Helen Evans |
| Position | Chair | Treasurer |
| Date | 16 April 2024 | 16 April 2024 |
4
Fleetville Swing Band Statement of financial activities for the year ended 31 August 2023 (including income and expenditure account)
| Note Income from: Member subscriptions 2 Charitable activities 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net (expenditure)/income Reconciliation of funds Total funds brought forward Total funds carried forward 8 |
Unrestricted funds 2022/23 2021/22 £ £ 2,045 2,055 1,200 1,300 3,245 3,355 3,402 2,591 3,402 2,591 (157) 870 9,406 8,642 9,249 9,406 |
Unrestricted funds 2022/23 2021/22 £ £ 2,045 2,055 1,200 1,300 3,245 3,355 3,402 2,591 3,402 2,591 (157) 870 9,406 8,642 9,249 9,406 |
|---|---|---|
| 3,355 | ||
| 2,591 | ||
| 2,591 | ||
| 870 | ||
| 8,642 | ||
| 9,406 |
The notes on the accompanying pages form part of the financial statements.
5
Fleetville Swing Band Balance sheet at 31 August 2023
| Note Current assets 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 2023 £ 110 9,194 9,304 55 9,249 £ 8,249 1,000 9,249 |
31 August 2022 £ 35 9,376 |
|---|---|---|
| 9,411 5 |
||
| 9,406 | ||
| £ 8,406 1,000 |
||
| 9,406 |
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 16 April 2024 by:
Matthew Cox Matthew Cox ...................... Chair ...................................
Helen Evans Helen Evans Treasurer
6
Fleetville Swing Band Notes to the financial statements for the year ended 31 August 2023
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.
7
Fleetville Swing Band Notes to the financial statements for the year ended 31 August 2023
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.
8
Fleetville Swing Band Notes to the financial statements for the year ended 31 August 2023
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) Member subscriptions
| Member subscriptions collected 3) Income from charitable activities Performance fees 4) Expenditure on charitable activities Musical direction & rehearsal costs Performance costs Equipment costs PPE & other Covid-19 mitigations Marketing costs Support costs |
2023 £ 2,045 2,045 2023 £ 1,200 1,200 2023 £ 867 801 1,099 - - 635 3,402 |
2022 £ 2,055 |
||
|---|---|---|---|---|
| 2,055 | ||||
| 2022 £ 1,300 |
||||
| 1,300 | ||||
| 2022 £ 798 452 476 64 250 551 |
||||
| 2,591 |
Support costs include insurance, PRS fees where due, marketing, website and other administration, health & safety and compliance costs.
9
Fleetville Swing Band Notes to the financial statements for the year ended 31 August 2023
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 (2022: none).
6) Debtors
| 2023 £ Prepayments & accrued income 110 110 ) Creditors: amounts falling due within one year 2023 £ Accruals & deferred income 55 55 |
2022 £ 35 |
|---|---|
| 35 | |
| 2022 £ 5 |
|
| 5 |
7) Creditors: amounts falling due within one year
10
Fleetville Swing Band Notes to the financial statements for the year ended 31 August 2023
8) Funds
| Balance at 31 August 2022 Net (expenditure) for the year Balance at 31 August 2023 |
General funds £ 8,406 (157) 8,249 |
Designated funds £ 1,000 - 1,000 |
Unrestricted funds £ 9,406 (157) |
|---|---|---|---|
| 9,249 |
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 2021 Net income for the year Balance at 31 August 2022 |
General funds £ 7,642 764 8,406 |
Designated funds £ 1,000 - 1,000 |
Unrestricted funds £ 8,642 764 |
|---|---|---|---|
| 9,406 |
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 £405 in 2023 (2022: £193).
11
Fleetville Swing Band Notes to the financial statements for the year ended 31 August 2023
Statement of financial activities for the year ended 31 August 2022
| Income from: Donations Charitable activities Total income Expenditure on: Charitable activities Total expenditure Net income Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds 2021/22 2020/21 £ £ 2,055 1,510 1,300 1,300 3,355 2,810 2,591 1,940 2,591 1,940 764 870 8,642 7,772 9,406 8,642 |
Unrestricted funds 2021/22 2020/21 £ £ 2,055 1,510 1,300 1,300 3,355 2,810 2,591 1,940 2,591 1,940 764 870 8,642 7,772 9,406 8,642 |
|---|---|---|
| 2,810 | ||
| 1,940 | ||
| 1,940 | ||
| 870 | ||
| 7,772 | ||
| 8,642 |
12