Charfty reg15tr*lon number: 1170987 pip Patagonia Instrument Project REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31" March 2024
Patagonia Instrument Project Report Of the Trustees And Financial Statements For the Period ended 31st March 2024 Conltntj Reference and administrative detsils Report of the Trustees Ststement of Financial Activities Balance Sheet Notes lo the Financial Stst¢ments 10
PATAGOYIA INSTRLIMENT PROJECT REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 3151 March 2024 REFERENCE AND ADMINISTRATIVE DETAILS Members of the Ix)ard and professional advisers Trnslees Mr C Stock Ms R Ford Mr P Girling Mr R Samuel Mr G Cheesman Secretary Mr P Girling Bankers Santsnder Bank
PATAGOliIA INSTRUMENT PROJECT REPORT OF THE TRUSTEES FOR THE PEIUOD ENDED 3111 MAr¢b 2024 The trustees present their report and the unaudited financial stsiements of the charity for the period ended 31S1 March 2024 Reference and adminislrative details Reference and administralive details are shoHTJ in the schedule of members of the board and professional advisers on page l of th¢ financial slalements. The Trnjte The trustees who served the charity during the period were as follows: Mr C Stock Ms R Ford Mr P Girling Mr R Samuel Mr G Cheesman STRUCTURE, GOVERNANCE AND MANAGEMENT LegAI status The Foundation is a Charitable Incorwrated Organization (CIO). It commenced its activities in 2016 and achieved chariiable slalus on 5 Januar). 2017. Governing document The PalabTonia Instrument Project (PIP) is governed by its CIO ¢onstilution dated l $1 December 2016. In the event of the organizAtion being wound up the members are requir¢d to contribute an amount not exce¢din8 £1. Recruitm¢n¢ and appointment of Trustees Members of the Board ot"Trustees are appointed or removed by resolution of the truslees. Trustees are appointed to provide expertise in the various skills needed to run the organi73tion efficiently and effectively. Trustee induetion And tr*inlng New. trustee5 are given a briefing on the work and the individual projects of the board as part of their induction. When appropriate. training sessions are on to board members where the training is considered useful to their rol¢.
PATAGONIA INSTRI:MENT PROJECT REPORT OF THE TRUSTEES FOR THE PERIOD EINDED 3111 March 2024 People with Significant Control There is no trustee or person with significant control of the charity. Risk management The truste¢s have examined the major risks that the charity faces. in porticular those related to the operations and financ¢s, and are satisfied thai systems are in place to mitigate the exposure to significant risks. 0ECTIVEs AND ACTIVITIES In October 2015. the BBC National Orchestra of Wales (NOW) made the first ever visii by a professional symphony orchestra to Pats8onia to coincide with the 151yh anniversary celebration ot. the Welsh community in Argentina. The aim of the projecl is to provide a legacy to this work. by providing musical instnllnents that are stmply not acc¢ssible lo pupils and i¢achers in Patsgoni& either because of financial constrainls or lack of availability. This aim is carried oul eiih¢r by sending specific instruments reque51ed by groups in the Chubut are4 dirllY from Wales. or b), raising funds in the UK through the sale of donated goods. lo purchas¢ instruments through a nelwork of specialist suppliers in Argentina. Although the alx)ve tour provided the initial stimulus Patagonia Instrument Project is totslly independenl of the BBC. Publlc b¢Deflt The Trustees confinn thai they have referred to the guidance in the charity commission's general guidance on public benefit when Rviewing the charity's aims and objectives and in planning future activities. ACHIEVEMENTS AND PERFORMANCE During the past year. financial donation& sheet music. strings. instruments and consumables were senl to Children's Orchestr&s in Trelew, Trevelin. Puer Madryn, Esquel. Gaiman. Epuyen. El Bolson and El Hoyo totaling £24,796. Of this. £589 was purch and sent from UK and £24.207 was purch locally in Argentln Tntee5 continually aim to achieve a balance as ststed in the Reserves Policy, keeping this policy in line with previous Financial Ststements.
PATAGONIA INSTRUMENT PROJECT REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 3111 M*reh 2024 FINANCIAL REVIEW The charity raised £3,022 (Previous Year: £2.945) through voluntary donalions during the period to 3 1st March 2024 and other charitable activities raised a further £27.711 (PY.. £8.246}. giving a total income for the year of £30,733 (PY: £I1.191). Equipm¢nt repair and purchases amounted to £729 (PY: £1.829) whilsi there was £55 expenditure on website, marketin8 and advertising costs during the year (PY: £403). Storage. shipping and handling costs lotalled £3.080 (PY.. £3.009), and insurance cosi £160 (PY £ I O I l. Donations 10 Patagonian schools and music organizaiions for local purch&ses, plus items shipped from UK, amounted 10 £24.796 (PY: £7.917) Overall expenditure for the year was £28.820 (PY: £13.258} leaving a balance of £3.932 (PY: £4,085). Reserves poliey The charity has no paid employees. However. il rents storage spac¢ from a commercial organization and the trustees consider it prudent to maintain a reserve of around £1,500 10 pay storage charges. website fees and other such expenses when cashflow is low. Trustees Trustees do not receive muneration or expenses for the day-to4lay running of the charity.
PATAGOlA IYSTRLTMENT PROJECT REPORT OF THE TRUSTEES FOR THE PERIOD EYDED 31SI March 2024 RESPONSIBILITIES OF THE TRUSTEES The truslees are resEK)nsible for preparing the TnceS, Rert and the financial statem¢nts in accordance with applicable law and United Kingdom Accounting Stsndards {United Kingdom G¢n¢rally Accepted Accountin8 Practice). Charity law requires the trusiees to prepare financial statements for each firwicial year that give a true and fair view of the stat¢ of affairs of the charity and of the incoming resources and applicalion of resources. including the income and expenditure, of th¢ charity for that period. In preparing these financial stal¢m¢nts, the trust¢es are required to: select suitsble accounting wlicies and then apply them consisntlY. observe the methods and principles in the Charities SORP: make judgments and estimates that are reasonable and prudent: state whether applicable UK Accounting Sthndards haN'e been followed, subject to any material departures disclosed and explained in the financial slalements, and prepare the financial ststements on the going concern basis unless li is inappropriate to presume thai the charity will continue in business. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accurdcy ai any lime the financial w>silion of the charity. They are also respK)nsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregulariti¢s. In so far as th¢ trustees are aware: there is no relevant inf0rn7ation of which the charity's examiner is unaware: and th¢ truslees have taken all steps that they oughi to have taken lo make themselves aware of any relevant inforniation and to establish that the examiner is aware of that informalion. The trustees are responsible for the maintenance and integritv of the financial inforn]ation included on the charity's web5ile. Legi51alion in the United Kingdom governing the preparation and dissemination of financial statemenls may differ from legislalion in other jurisdiclions. B Y ORDER OF THE BOARD ffrfv Mr P Girling Secretary
REPORT OF THE TRL'STEES FOR THE PEIUOD EliDED 3151 Marcb 2024 AccouNfiNG POLICIES Basis of prep*rAtion of fin2ncial statements The financial statements haN'e been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance 7th the Financial RertIng Standard applicable in the UK and Republic of Ireland (FRS 102). At the balance shttt datr. th¢ charity had an excess of assets over liabilities of £3,932. On thi5 basis. the truslees consider it appropriate to prepare the financial statements on the going concern basis. The accounts do not reflect the adjustments that would have been maae should continuing finance not be available. namely reducing the valu¢ of the Sets to their realisable amounts, providing for any fiwther liabilities which might arise and reclassifying all fixed assets and long terni liabilities as current assets and liabilities rcspectively. Fund Aeeounting General fund5 are unrestricted funds that are available for use ai the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Incoming resources All incoming resources are included in the Staiement of Financial Aclivities when ihe charity has entiilemenl lo the funds. certainty of receipt and the amounl can be m¢Ured with sufficient reliability. No amounts are included in the financial statements for services donated by volunteers. Income tax recoverable in relation to donattons received under Gift Aid or deeds of covenant is recognized at the time of receipt from HMRC. Grants receivAble Revenue granis are credited as incoming resources when they are receivable provided eondittons for receipt have been complied with. unless they relate to a specified fulure period. in which case they are deferred. All other incom¢ is included in the SLqtemenl of Financial Activities when received or when the charity is legally enliiled to the income. Resources expended All expenditure is accounted for on an accruals basis and h&$ been included under expense categories thal aggregate all cosls for allocation to actil'ities. Where cosls cannoi be directly attribuied to particular activities they have been allocated on a b&sis consistent with the use of the resources. Fundraising costs are those incurred in seeking voluntsry contributions and include the costs of disseminating infomiation in support of the charitable activities.
Patagonia Instrument Project Flntdnel*l statements for the period ended 31st March 2024 Statement of financial activities (incorporating the income and expenditure account) Total Funds 2023-2024 Total Funds 2022 - 2023 Nole ncomiDg re$ourees Incomin¥ resources from generating funds: Voluntary income Incoming resources from charitable activities 3,022 2,945 27.711 8.246 Total incoming resources 30,733 11,191 Resourees Expended Costs of g¢n¢ratin8 fimds: Costs of 8eneratin8 voluntary income Other resources expended 55 403 28,765 12.855 Total Rejourees expended 28J20 13.258 Movement in total funds for lh¢ year- Ne¢ income for the )'e4r 1,914 (2.067) Funds at 31 March 2023 2,018 4.085 Total funds At 31st March 2023 3,932 2.018 All of the nel incoming resources are from continuing activities
Patagonia Instrument Projeet Fin4neial Statements for tbe period ended 31st March 2024 Balance Sheet 2022 - 2023 2022 - 2023 Current a$set$ Debtors Cash in hand Cash at bank 150 125 1.893 2,018 3,9.72 Crediton.. amounts falling due within one year Net current Asset81(liabilities) Net aysetsl(li8bilities) 3,932 3,932 2.018 2,018 Charity Funds Unrestricted income funds Total funds 2.018 2,018 3.932 The financial statements were approved by the Trus*es on . ! •L and signed on their behalf by: Chris Stock Chairn]an Charity Registration No: 1170987 The notes on page l O form part of these financial ststements.
Patydgonia Instrument Project Finan¢i21 slatements for the period ended 31st M8r¢b 2024 Notes to the financial statements Unrestrieted Funds 2022 - 2023 Unrestricted Fund5 2022 - 2023 I Voluntary Income Gift Aid Donations Non Gift Aid Donations 405 2,617 .559 .386 2.945 Incoming resources from chari14ble artlvitles Sales of donated equipment 27,711 8,246 Cost of geDerntin8 voluntary IDcome 3 Insurance Equipmenl repairs & purchases Marketing & Advertisin8 Posts¥e Miscellaneous fees & charges Storage Donations to Patagonia Schools for local purchase Items shipp¢d directly from UK 160 729 55 914 28 2,1.18 24J06 101 1,829 403 669 20 2,319 5,396 28,820 13,258 io