REGISTEttED COMPANY NUMBER., CE010475 IEnEland and Wales) REGISTERED CHARITY NUMBER: 1171893 REPORT OF THETRU5TEES AND UNAUDITED FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR POOLE SOCIETY FOR YOLJNG MUSICIANS Enhan Chartered Accountants & Buslness Advlsers 38 Mlddlehlll Road Wimborne Dorset BH212SE
POOLE SOCIETY FOR YOUNG MUSICIANS CONTENT5 OF THE FINANCIAL5TATEMENTS for the Year Ended 31 Decèmber 2023 PaÉe ReleTence and Adminigtrative Detalls Report olth* Trustse5 Independent Examlner's Report Statèment of Flnanclal Artlvltles Balance Sheet Notes to the FlnancSal Statgments 7 to 10 Dètall¢d Statem¢nt of Fln•rtclo1 Artlvltles 11 to 12
POOLE SOCIETY FOR YOUNG MUSICIANS REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 D*Mber 2023 TRUSTEES M C85ey- Chairman A Kay- Musical Director N Nicholas-Treasurer DAdam Tate J CurSel (resigned 23110120231 N Covell REGISTERED OFFICE 198 West Way 8roadstone Dorset BH18 9LL REGISTERED COMPANY NUMBER CEOICM75 (England and Wales) REGISTERED CWARITY NUMBER 1171893 INDEPENDENT EXAMINER Enhance Chartered Accountant5 & Buslness Advlsers 38 Mlddlehlll Road Wimborne Dorset 8H212SE Page I
POOLE socigry FOR YOUNG MUSICIANS REPORT OFTHETftUSTEES for the Year Ended 31 December 21)23 The tru51ees who are also diredgrs of the charity fof the purp05e5 of the Companies Act 2006, present their report wSth the financi315t3ternents of the charity for the year ended 31 December 2023. The trustees have adopted the provisir>ns of Accounting and Reportin8 by Charities.. Statement of Recommended Pradice appllcable to charities preparing their accounts in accordance with the Finantial Reporting Slandèrd applicable in the UK and Republic of Ireland IFRS 1021 (effective I january 20191. The trustees have complied fully with the duty in section 17151 of the 2011 Charities Act to have regard to guldance published by the Charity Commission. OBJECTIVESAND ACTIVITIES Objprtlves and alms The objectiVE IS.. to advancè, improve. develop and malntain public education in, and appreciation of, the art and sclence of music In all Its aspects by any means the trustees see fit, Includlng through the presentation of publi concerts and recltals. Due re8ard has been 8iven to the ¢harlty commission'$ guldan¢e ¢n pybll¢ benefit. ACHIEVEMENT AND PERFORMANCE Charitable artivitles 2023 saw the continuation of our Mezzo Maestros orchestra and our lurasslc Brass ensemble. Also, our Mlnl Mae5tr05 music Academy, educatlng local chlldren muslcally In Instrumental lessons, ensembles and rhythm ski115, took place weekly In term time. The Carnèrata chamber musit ensemble5 took place In the Sprins, Surnmer and Aulumn terms and the Camerata Strln8s project was agaln funded by a 8rant from the Frosl Trust. Our Soundstorm SiThfonla orchestral course took place In February half term. In Aprll some of our students attended a brass day in London supported by local proleisitsnal musiclan5. Our 9th annual 5ummertlme muslc CDurse took place in July 2023 over 5 days caterln6 for over 140 youn8 muslclans of all standards. Durln8 the Avtumn term our collaboratlon wlth the Royal Academy of Muslc saw the Kyan quartet vlsit us to work wlth some of ouryoung musSclans. They are to return In 2024. Our flr5t COnrt of the year SAW the Asaka quartet return, In addltlon to performln8 they held masterclasses for some of ouryoung rnu51clans. They were sponsored by the Frost Trust as part of the camerata Strings prL)ject. In May our CDncert featured piano, voicp and vlola. Prior ta the concert there was a vocal rnastercla55 for local sSnger5. In June w? held a family concert and July5aw our popular annual tea and cake concert. In September, the Canzona brass qulntet performed for us. and In October some of our orchestral alumnl rnusicians from the Royal college of muslc joined forees with some Invlted BSO musltlan5' to perform in a popular chamber orchestra concért. A vio1Sn ma5terclas5 took place in November delivered by Catherine Martln leader of the Gabrleli ensemble. Our ever-popular Christmas concert W35 the final event ol the year. FINANCIAL REVIEW Flnancial positivn The charlty held reserves of E39,621 as at 31 Detember 202312022.. £33,132>. The trustees consider this level of reserve5 nece55ary to run the tharity in an orderly and prudent manner. Page 2
POOLE soaEfY FOR YOUNG MUSICIANS REPORT OF THE TRusfEES for£he Year Ended 31 getèmber 2023 FINANCIAL REVIEW Prindpal fundlng stsurcts Soundstotm and the Frost Trust continue to provide undi¥E to help support our educatlonal prolerts. Principle sources of funding come frorn ticket sale5 and donations / sponsorship from private donors & or63ntgations, as well as fees paid io attend workshops. Golng coftcern The trustees havé a reasonable expertatlon that the d)arity has adequate resource5 to continue in operational eXIstsn for the foreséèable future, For this reason they continue to adopt the 80ing concern b3515 in preparing the finènoal statements. sTRUURE, GOVERNANCE AND MANAGEMENT Gpvemlng document The charity is a Charitable Incorporated Organisalion controlled by it5 governin8 docltmènt, the lountlation rnodel ¢OnSfll¢Jtlon. RecwTtment and appolntm¢nt of new trustees Our t'rustees are committee members who put themsÈlve5 torward as trustees and are duly appointed. OrKan15atlonal strurture There 3re fto employees. Everyone Involved in the charily Is a volunteer. As part ol our constitution, tru51ees who are muslcians, are entitled to receive paymèni when they perform for us. Our mu51cal cjirector recelves 3 flat fee for every event that She organlses. STATEMEKfoFTRUSTEES' RESPONSIBIUTIES The trustees Iwho are also the direciors of Poole Soclety For Young Mu51Ctans for the purpose5 of company l)wl are responsible lor preparin8 tlie Report ol the Trustees and the Anancl31 statements in accordonce wlth applicable law and United Kin8dom A¢¢ountlnB Standardi Iuniied Kln8dorn Generally Accepted AccountinB Practlcel. Company law requlres the trustees t¢ prepare financlal statements for each flnanoal year whlch glve a true and falr vlew ol the state of affairs of il)e charltable company and of the Incoming resources and application of resources, includlng the income anLI expenditure, Of the tharitable cornpany lor that perltsd. In preparln6 those flnan¢ial statements. the trustee5 are Tequired to select 5Ultable accountin8 poliae5 and then apply ihem consistently; observè thè methods and principles in the Charity SQRP-, make lud8ements and e8timate5 that ale reasonable and prudent.. prepare the financlal staternents on the 8oin8 concern bas¥s unless it is inapproprlate to presume that the charitable companywlll continue in business. The trustees are responsible for keeping proper accounting records whlch disc105e with reasonable accuraty at any time the financial positron ol the charltable company and to enable them to ensure that thè financial statements comply with tlie Companles Act 2006. They are a150 iesponsible lor safe8uardln8 the assets 91 the charitable company nd hence lor takin8 reasonable steps for the preventlon and detoclion of fraud and other rregularSiles. Approved by order ofthe board oftrustees on..? '.bE,. L?...4W.'-and signed on its behèll by.. M Casey- Trustee Page 3
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF POOLE SOCIETY FOR YOUNG MUSICIAN5 Independent examiner's reportto the trustees ol Poole Society For Young Musklans I'the Company, I reporE to the charity tru5tee5 on my examination of the accounts of the Company for the year ended 31 Decembèr 2023. Re5pon5ibilitie5 and basis of report As the charity's trustee5 of the Company land 8150 its directors for the purposes of company lawl you are responsible for the preparation of the accounis in accordance with the requirements of the Companies Act 20061.the 2C()6 Act'l. avlng satisfled myself that the aceounts of the Company are not requlred to be Hudlted under Part 16 of the 2006 Act and are eli8ible for independent examination. I report in respert of my examination of your charity's accounts as arried out under Section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Sectyon 145151 Ibl of the 2011 Act, Independent examiftÈr's Statement I have completed my examination. I confirm that no mbtters have come to my attention in connection wlth the examlnation 8ivln8 rne cause to belleve.. accounting records were not kept In Spect of the Company as reo(tlred by Sectlon 386 of the 2006 Act,. or the accounts do not accord with those records,, or the accounts dD not comply wlth the accountlns requlrements of Section 396 of thè 2006 Act other than anv requlrement that the accounts 8Sve a true and falr vlew whlch Is not a matter considered as part of an Independent examinatiot),. or the accounts have not been prepared In accordance wlth the rnethods and princlples ot the Statement of Recommended Practlce lor accountlnK and reportin% by charltles lappllcablÈ to charitles prepèrln8 thelr accounts In accordance wlth the Flnanclal Reportln8 Stsndard applicable in the UK and Republlc of Ireland IFRS 10211. I have no concern5 3nd have comè across no other matters In connection with the exèminatlon to whlch attentlon should be drawn In thls roport In ordor to enable a proper under5tandln8 of tho accounts to bo reached. john Newell FCA Enhance Chartered Accountant5 & Business Advisers 38 Mlddlehl11 Road Wimborne Dorset BH212SE 3 October 2024 Page 4
POOLE SOCIETY FOR YOUNG MUSICIANS STATEMENTOF FINANCIAL ACTIVITIES for the Year Ended 31 December 2023 2023 Unrestricted fund 2022 Total funds Note5 INCOME AND ENDOWMENTS FROM Donations and legacles 5.720 3,271 Other tradln8 actlvitles 47,¢X)D 36,433 Total 52,720 3g.704 EXPENDITURE ON Raisingfunds 11,213 13,517 Charitsble artlvltles Charltabl@ actlvitle5 31,063 20,163 Other 3,955 1,722 Totèl 46,231 35,402 NET INCOME 6,489 4,302 RECONCIUATION OF FUNDS Ttstal fund5 brought forward 33,132 28,830 TOTAL FUNDSCARRIED FORWARD 39,621 33,132 The It£S form part of these financial statements Page 5
POOLE SOCIEfi FOR YOUNG MUSICIANS BALANCE SHEEr 31 December Z023 2023 Unresiricied fund 2022 Total funds Not CURRENT ASSErs Oebtors Cash at bank and In hand 3,006 38,872 654 32,478 41.878 33,132 CREDrfoRS Amounts fallin8 due withln one yeaf 12.2571 NET CURRENT ASSETS 39,6ZI 33,132 TOTALASSET5 LESS CURRENT IJABiufSES 39,621 33,132 NEfASSErs 39,621 33,132 FUNDS Unreslrlcted lund5 39,621 33,132 TOTAL FUNDS 39,621 33,132 The chorltable company is entitled to exemptlon from audlt under Settioft 477 of the Cornpanles Act 2006 for the year ended 31 DeMtyer 2023. The membeTS have not requlred the company to tsbtaln an audlt of It5 flnanclal statements for the year ended 31 December 2023 in accordance wlih Section 476 Of the Companle5 Acl 2006. The trustees acknowled8e thelr responslbillties for en5urin£ ihat the charitable ¢ompany keeps actotsntlng records that comply wlth Sectlons 386 and 387 of th¢ CompanSes Act 2006 and preparing financlal statements which glve a true and falr vlew ol the state of alfairs of the charitsble company as ai the end of èach Nnancial yeaT and ol its surplus or defi¢lt for each flnanclal year in accordance wlth the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relatln8 to financial statement5. so lar a5 applicable to the charitable company. These ff nancial statements have been prepared in a¢cord?nce wlth the provision5 appllcable to charltable companles subject 10 the small companies reBlme. Thè financial starements were approved by the 8oard of Trsjstees and authoiised for issue ..9..1..-. S.(...:..w..llpnd werè signed on Its behalf by". on N Nicholas- Trustee The notes form part of these financial statements Page 6
POOIE soaEfY FOR YOUNG MUSICIANS NOTES TOTHE FINANCIAL STATEMENTS lorthe Year Ended 31 December 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charltable company, which is a public ben&fit entity under FRS 102, have been prepared in actordance with thè Charities SORP IFRS 1021'Accountin8 and Reportin8 by Charitle5'. statement of Recommended practi applicable to charltl@s preparlng thelr accDunts In accordance wlth thE Flnancial Reporting Standard 3pplicable in the UK and R@publlt of Ireland IFRS 1021 leffectlve l January 20191,, Financial Reporting Standard 102 'The Financlal Reporting Standard applicable In the UK and Republic of Ireland, and the Companles Act 2006. The flnanclal 5taternents have been prepared under the hlstorlcal cost convention. Income All Income 15 recogni5ed in the Statement Df Financial Activities once the charity has entltlement to the funds, It is probable that the income will be received and the amount can be measured reliablv. EKpèndlture Liabiliti?s are reco8ni5ed a5 expenditure as soon as there is è legal or constructive Dbllgatlon commirtin8 the harity to that expenditure, it is probable that a transfer of ecDnotnlc benefit5 will be required Sn settlement nd the amount of the obllBation tan be measuied reliably. Expenditure is accounted lor on ?n accruals basls and has been classlfled under headlngs that aggregate all Cost related to the category. Where costs cannot be dlrectly attilbuted tts partlcular headiTh85 they have been allocated to actlvltlos on a basls consSstent wlth the use of resources. Taxatlon Th& charity15 exempt from corporatlon tsx on its tharltable actlvitles, Fund accountlng Unrestrfcted funds can be used In accordance wlth the charltable oblertlves at the dlscretlon of the trustees. Restricted fund5 can only be used for particular re5trlcted purposes wlthin the objeds of the charlty. Rèstrlctlons arise when speclfSed t*y the donor or when funds are ra19ed for partlcular restrirted purpose5. Further explanatlon of the nature and purpose of each fund Is Included In the note5 to the flnanclal statements. OTHER TRADING ACTIVrnES 2023 2022 Workshop and summer school Sponsor5hip5 Ticket 5ale5 Refreshments 25,518 15,563 5,814 105 17,760 12,690 5,640 343 47,000 36,433 Page 7 Continued...
POOLE soaEfY FOR YOUNG MUSICIANS NOYES TO THE FINANCIAL STATEMENTS- continued forthe Year Ended 31 December 2023 RAISING FUNDS R3i5ing donBtions and legacies 2023 2022 4,350 6,395 827 2,369 7,293 423 825 1,201 1,406 Performers fees Music Music director event payrnent Advertlsing and donations Support costs 272 1631 11,213 13,517 TRUSTEES. REMUNERATION AND BENEFITS The musical diiector received a paymenl or £2,41012022.. £3,885> for coachln8 and OT8anisin8 muslcal events. Tru5tees' expenses There were no trustees, exp?nse5 pald for the year ended 31 December 2023 nor for the year ended 3L December 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIALAcfiviTIES Unrestrleted fund INCOME ANO ENDOWMENTS FROM Donatlons and lègaciès 3,271 Other tradirtg attlYlt1È5 36.433 Total 39,704 EXPENDITURE ON Ralsln8 funds 13,517 Charitabl* artivitleS Charitable activitles 20,163 Other 1,722 Total 35,402 NET INCOME 4,302 RECONCILIATION OF FUNDS Total funds brought forward 28,830 TOTAL FUND5 CARRIED FORWARD 33.132 P3ge 8 corttinued...
PO(XEsoaEfY FOR YOUNG MUSICIANS NOTESTO THE FINANCIAL STATEMENTS. contlnuèd tor the Year Ended 31 December 2023 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Gift aid recoverable Prepayments and accrued inttsme Prepayments 1,145 1,098 763 654 3,006 654 CREDITORS: AMOUNTS FAtUNG DUE WITHIN ONEYEAR 2023 2022 Accrued expenses 2.257 MOVEMENT IN FUNDS Net movement In funds At 31112123 At 111123 Unrestr5rted funds fjeneral fund 33,132 6,489 39,621 TOTAL FUNDS 33,132 6,489 39,621 Net movement In funds, Intluded in the above are as follows.. Incornin8 resources Resources expended Movement In fund5 Unrestricted fynd$ General fund 52,720 146,2311 6,489 TOTALFUNDS 52.720 146,2311 6,489 Comparatlvesfor mo¥ement In funds Net movement In funds At 31112122 At IIy22 Uniestrktsd fund5 General fund 28.830 4,302 33,132 TOTAL FUNDS 28,830 4,302 33,132 P3se 9 continued...
POOLE SOCIETY FOR YOUNG MUSICIANS NOTES TO THE FINANCIALSTATEMENTS- contlnued for the Year Énded 31 Oetember 2023 MOVEMENT IN FUNOS- contlnued Comparatlve net movement in fund5, Included In the above are as follow5.. Incomin8 resour5 Reseurtes expended Movement in funds Unrestrlcted funds General fund 39,704 135,4021 4,302 TOTAL FUNDS 39.704 135,4021 4,302 A curreTht year 12 months and pr1oryear 12 months comblned posltlon Is as follows.. Net movement In funds At 31112123 At 111122 UnfÈstrlct•d funds General fund 28,830 10.791 39,621 TOTAL FUNDS 28,830 10,791 39.621 A current year 12 moThths and prlor year 12 months comblned net movement In funds, includèd In thè above are a5 follows.. Incomln8 resource5 Resources expended Movement in lunds Vnre5trl¢ted fund5 General fund 92,424 181,6331 10,791 TOTAL FUNDS 92,424 181,6331 10,791 RELATED PARTY D15CL05URES There were no related party transactions for the year ended 31 December 2023. Pa8e 10
POOLE SOOETY FOR YOUNG MUSICIANS DETAILED STATEMENT OF FINANCIALAcfiviTIE5 for the Year Ended 31 December 2023 2023 2022 INCOME AND ENDOWMENTS Don?ttons and legacies Donations and other income Glft aid 4,575 1,145 2.616 655 5,720 3.271 Othertrading activities Workshop and summer school Sponsorships Tlcket sale5 Refreshments 25,518 15,563 5,814 105 17,760 12,690 5,640 343 47,000 36,433 Total Inc¢*mlnB resource5 S2,720 39,704 EXPENDITURE Aalsln8 donatlons and le8a¢le5 4,350 6,395 827 2.369 7.293 423 825 1,201 Performer5 fee5 Muslc Music dlrector event payment Advertlsing and donations 272 11,844 12,111 Charltable actlvltles OrBanlsational lees 1,150 28,049 160 635 411 19,155 55 542 Tuning Consumables and refreshments 29,994 20,163 Support Costs Informatlon technology Computerconsumables 132 49 Othèr Administration fees Accountancy Insurance and membership Carrbed forw3rd 680 1.050 350 270 440 1,060 1,730 Thi5 page does not form part of the statutoryfinancial statements Page 11
POOLE SOQETY FOR YOUNG MUSICIANS DETAILED STATEMENTOF FINANCIAL ACTIVITIES forthe Year Ended 31 December 2023 2023 2022 Other Brought fonM3rd Pastoral care Postage and stationery 5undrles 1,730 150 857 1,524 1.060 505 548 966 4,261 3.079 Total resources expended 46,231 35,402 Net InEome 4.302 Th15 P3ge does not form part of the statutory finantlal statements Page 12