**Charity registration number: 1170987**
# **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31[st] March 2025**
## **Patagonia Instrument Project**
## **Report Of the Trustees And Financial Statements For the Period ended 31[st] March 2025**
## **Contents**
|Reference and administrative details|2|
|---|---|
|Report of the Trustees|3 - 7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Notes to the Financial Statements|10|
1
## **PATAGONIA INSTRUMENT PROJECT REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31[st] March 2025**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Members of the board and professional advisers
**Trustees** Mr C Stock Ms R Ford Mr P Girling Mr R Samuel Mr G Cheesman **Secretary** Mr P Girling **Bankers** Santander Bank
**2**
## **PATAGONIA INSTRUMENT PROJECT REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31[st] March 2025**
The trustees present their report and the unaudited financial statements of the charity for the period ended 31[st] March 2025
## **Reference and administrative details**
Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.
## **The Trustees**
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**
## **Legal status**
The Foundation is a Charitable Incorporated Organization (CIO). It commenced its activities in 2016 and achieved charitable status on 5[th] January 2017.
## **Governing document**
The Patagonia Instrument Project (PIP) is governed by its CIO constitution dated 1[st] December 2016.
In the event of the organization being wound up the members are required to contribute an amount not exceeding £1.
## **Recruitment and appointment of Trustees**
Members of the Board of Trustees are appointed or removed by resolution of the trustees. Trustees are appointed to provide expertise in the various skills needed to run the organization efficiently and effectively.
## **Trustee induction and training**
New trustees are given a briefing on the work and the individual projects of the board as part of their induction. When appropriate, training sessions are open to board members where the training is considered useful to their role.
3
## **PATAGONIA INSTRUMENT PROJECT REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31[st] March 2025**
## **People with Significant Control**
There is no trustee or person with significant control of the charity.
## **Risk management**
The trustees have examined the major risks that the charity faces, in particular those related to the operations and finances, and are satisfied that systems are in place to mitigate the exposure to significant risks.
## **OBJECTIVES AND ACTIVITIES**
In October 2015, the BBC National Orchestra of Wales (NOW) made the first ever visit by a professional symphony orchestra to Patagonia to coincide with the 150[th] anniversary celebration of the Welsh community in Argentina.
The aim of the project is to provide a legacy to this work, by providing musical instruments that are simply not accessible to pupils and teachers in Patagonia, either because of financial constraints or lack of availability. This aim is carried out either by sending specific instruments requested by groups in the Chubut area, directly from Wales, or by raising funds in the UK through the sale of donated goods, to purchase instruments through a network of specialist suppliers in Argentina.
Although the above tour provided the initial stimulus, Patagonia Instrument Project is totally independent of the BBC.
## **Public benefit**
The Trustees confirm that they have referred to the guidance in the charity commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.
## **ACHIEVEMENTS AND PERFORMANCE**
During the past year financial donations, sheet music, strings, instruments and consumables were sent to youth groups and schools in Epuyen, El Hoyo, El Bolson, Esquel, Trevelin, Gaiman, Trelew, Puerta Piramides and Puerto Madryn totalling £7,677. Also included in this figure were 7 pairs of traditional Welsh Dancing clogs made in the UK and shipped to dance groups in Trevelin and Esquel. We feel this falls within the aims and objectives of the charity and we expect to continue supporting this work across Chubut in future years.
Trustees continually aim to achieve a balance as stated in the Reserves Policy, however at the end of this financial year, funds remain above this reserve level in preparation for a number of higher value instrument purchases proposed for the first half of the 2025-2026 year.
4
## **PATAGONIA INSTRUMENT PROJECT REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31[st] March 2025**
## **FINANCIAL REVIEW**
The charity raised £950 (Previous Year: £3,022) through voluntary donations during the period to 31[st] March 2025 and other charitable activities raised a further £13,990 (PY: £27,712), giving a total income for the year of £14,940 (PY: £30,734).
Equipment repair and purchases amounted to £97 (PY: £729) whilst there was £746 expenditure on website, marketing and advertising costs during the year (PY £55). Storage and handling costs totalled £2,912 (PY: £3,080), and insurance cost £160 (PY £160). Grants to Patagonian schools and music organizations for local purchases, plus items shipped from UK, amounted to £8,680 (PY: £24,796)
Overall expenditure for the year was £12,595 (PY: £28,820) leaving a balance of £6,277 (PY: £3,932).
## **Reserves policy**
The charity has no paid employees. However, it rents storage space from a commercial organization and the trustees consider it prudent to maintain a reserve of around £1,500 to pay storage charges, website fees and other such expenses when cashflow is low.
## **Trustees**
Trustees do not receive remuneration or expenses for the day-to-day running of the charity.
5
PATAGONIA INSTRUMENT PROJECT
REPORT OF THE TRUSTEES
FOR THE PEIUOD ENDED 31" Marcb 2025
RESPONSIBILITIES OF THE TRUSTEES
The trustees are responsible for preparyng the Trustees, Report and the financial 5talements in
accordance with applicable law and United Kingdom Accounting Swldards (United Kingdom
Generally Accepied Accouniing Praciice).
Charity law requires the Irustees to prepare financial statements for each financial year that giv¢
a true and tair view ot- the state ol- atlairs ol the charity and ot-the incoming resources and
application of resources, including the income and expendilure. of the charity for that period. In
preparing these financial slatemenl& the trustees are required io:
select suitable accounting w)licies and then apply them consistently:
observe the methods and principles in the Charities SORP:
make judgments and esiimates that are reawnable and prudent:
sthte whether applicable UK Accounting Standards have been followed. subject to any
material departures disclosed and explained in the financial slatements, and
prepare the financial siatements on the going concern basis unless it is inappropriate to
presume ihat the charity will wntinue in business.
The trustees are responsible for keepin8 adequate accountinB records thai disclose with
reasonable ac¢urncy at any lime the financial posiiion of ihe charity. They are also responsible
for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention
and detection of fraud and other irregularities.
In so far as the truslees are aware:
• there is no relevant infomiation of which ihe charity's examiner is unaware; and
the trustees have taken all sleps that they ought to have taken to make themselves aware
of any relevant inforniation and to estsblish thai the examiner is aware of that
infomiation.
The trustees are responsible for the maintenance and integrity of the financial inforniation
included on the charity's website. Legislation in the United Kingdom 8overnin8 the preparation
and dissemination of financial slalements may differ from legislalion in other jurisdictions.
BY ORDER OF THE BOARD
Philip Girling
Secretary
## **REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31[st] March 2025**
## **ACCOUNTING POLICIES**
## **Basis of preparation of financial statements**
The financial statements have been prepared under the historical cost convention and in accordance with the 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). At the balance sheet date, the charity had an excess of assets over liabilities of £6,277
On this basis, the trustees consider it appropriate to prepare the financial statements on the going concern basis. The accounts do not reflect the adjustments that would have been made should continuing finance not be available, namely reducing the value of the assets to their realisable amounts, providing for any further liabilities which might arise and reclassifying all fixed assets and long term liabilities as current assets and liabilities respectively.
## **Fund Accounting**
General funds are unrestricted funds that are available for use at 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 Statement of Financial Activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability. No amounts are included in the financial statements for services donated by volunteers.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognized at the time of receipt from HMRC.
## **Grants receivable**
Revenue grants are credited as incoming resources when they are receivable provided conditions for receipt have been complied with, unless they relate to a specified future period, in which case they are deferred.
All other income is included in the Statement of Financial Activities when received or when the charity is legally entitled to the income.
## **Resources expended**
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and include the costs of disseminating information in support of the charitable activities.
7
**Patagonia Instrument Project Financial statements for the period ended 31st March 2025**
## **Statement of financial activities (incorporating the income and expenditure account)**
|**Note**
**Incoming resources**
Incoming resources from generating funds:
Voluntary income
1
Incoming resources from charitable activities
2
**Total incoming resources**
**Resources Expended**
Costs of generating funds:
Costs of generating voluntary income
3
Other resources expended
3
**Total Resources expended**
**Movement in total funds for the year –**
**Net income for the year**
Funds at 31stMarch 2024
**Total funds at 31st March 2025**|**Total Funds**
**2024-2025**
**950**
**13,990**
**14,940**
**746**
**11,849**
**12,595**
**2,345 **
**3,932**
**6,277**|Total Funds
2023 - 2024
£
3,022
27,712|
|---|---|---|
|||30,734|
|||55
28,765|
|||28,820|
|||1,914
2,018|
|||3,932|
All of the net incoming resources are from continuing activities
8
Patagonia Instrument Project
FinAncial statements for the peri ended
31st March 2025
Balance Sheet
2024 - 2025
2023 - 2024
Current
Debtors
Cash in hand
Cash ai bank
240
6.037
6,277
150
3.932
Creditors: amounts falling due within year
Net current asgetsl(liabilities)
Net aet8/(li%blIItIe5)
6377
6377
3.932
3.932
Charity Funds
ljnrestricied income funds
Totgl fundi
6377
6J77
3.9.32
3.932
The financial statements wer¢ approved by the Trusiccs on . 29.....$4 20 Z
and signed on their behalf by.
Chris Stock
Chaiman
Charity Registration No: 1170987
The Tro*s on page 10 forni part of these financial Matements.
## **Patagonia Instrument Project Financial statements for the period ended 31st March 2025**
## **Notes to the financial statements**
|**1 Voluntary Income**
Gift Aid Donations
Non Gift Aid Donations
**Incoming resources from charitable activities**
**2**
Sales of donated equipment
**Cost of generating voluntary income**
**3**
Equipment repairs & purchases
Marketing & Advertising
Postage
Miscellaneous fees & charges
Storage
Insurance
Items shipped directly from UK
Grants to Patagonia Schools/Music organisations|**Unrestricted**
**Funds**
**2024 – 2025**
**£**
**400**
**550**
**950**
**13,990**
**13,990**
**97**
**746**
**819**
**0**
**2,093**
**160**
**1.003**
**7,677**
**12,595**|Unrestricted
Funds
2023 - 2024
£
405
2,617|
|---|---|---|
|||3,022|
|||27,712|
|||27,712|
|||729
55
914
28
2,138
160
589
24,207|
|||28,820|
10