REGISTERED COMPANY NUMBEIL. 010475{EngIand and Wales) REGISTERED CHARITY NUMBER: 1171893 REPORT OF THETRLisfEES AND UNAUDITED HNANaAL STATEMEpifs FOR THE YEAR ENDED 31 DECEMBER 2024 FOR POOLE SOCIETY FOR YOUNG MUSICIANS Enhance Chartered Accountants & Business Advisers 38 Middlehill Road Wimbofne Dorset BH2125E
POOLE SWETY FOR YOUNG MusiaANS CONTENTS OF THE FINANaAL sfATEMErir5 for the Year Ended 31 December 20Z4 ReleTence and Adminlstrative Detai Report of the Trustees Independent Examlnerf5 Report Statement of finandal A¢ti¥i Balance Sheet Note5 tothe fmancial Statements 7 to 10 l)etailed Statement of Knandal A¢¢wtttes 11 to 12
POOLE SOCIETY FOR YOUNG MUSICIAN5 REFERENCE AND ADMIN15fRATIVE DETAILS for the Year Ended 31 December 2024 TRUSTEES M Casey- Chalrman A Kay- Musk Director N Nicholas - Treasurer DAdam H Tate N Coyell D Far1] lappolnted 411112024) REGisfERED OFFICE 198 West Way 8roadstone Dorset BH18 9LL REGISTERED COMPANY NUMBER CE010475 IEnEland and Wales} REGisfERED CHARrrY NUMBER 1171893 INDEPENDENT EXAMINER Enhance Chortered Accountants & Buslness Advisers 38 Middlehill Road Wimborne Dorset BH212SE Page I
POOiE SOOEfY FOR YOUNG MUSiaANS REpoirr OFTHE TRUSTEES for the Year Ended 31 Decern 2024 The trustees who ore also directors of the tharity for the pufposes of the Companies Act 2iJ)6, present their POrt with the financial statements of the thaiity for the year ended 31 December 2024. The trustees have adopted the provisions of Accauntlng and Reporting by Charitles: Statement of Recommended Practice appllcable to tharities preparing their accounts in 3cc(wdance with the Financial Reporting Standard aPIcable in the UK and Republic of IrelafKI IFRS 102} (effective l January 20191. The trustees have complied fulty with the duty in Sert1( 17(5) of the 2011 Charities Act to have regard to guidance pubSished by the tharity CommtS5ion. OBJEcnvES AND AcfiviTIES Objectives and alms The objective is: to advance, improve, develop and rnaintsln public education in, and appreciation of, the art and scleno of music in all it5 aspects by ar•y mean5 the tTUStee5 see fiL induding through the presentation of public concerts and recitsis. Due regard has been 'Ven to the charity commission's guidance on public benefft. ACHIEVEMENT AND PERFORMANCE Charltable actlvlties 2024 Saw our Camerats thamber groups. for Imjr m05t senior your£ musicians tontinue to evofve, VAth 4 sessions per temi induding around &7 chamber groups with perforn1an supported again this year by the Albert and Eugenie Frost Trust. In addition, we began a New symphonic Wind ensernble in thÈ autumn. whith has been extremely popuSar 50 far. We have also added a 5010 perfomance dass at the end of eath session, which has proved lUable for the young musicians. Around 57 young musiaans partiapate between these two group Our weekly Monday night Music Academy contlnue5 to grow with nearly 50 children attendin8 $010 instrumental lessons and ensemble groups. Our Mini and Mezzo Maestr05 groups are groMrin& and we have added a junior Jurassic Bras5 ensemble so that we now have a progression route to the 5enioT group. In June, 17 of our most advanced young musicians took part in a day created just for them by the head of Junior Royal Academy of Music. They played alongside stvdents in RAM bands, orchestras, thamber music and performance classe5 and took part in composition cla55es. It was a truly inspiring day. Our 10th annltal Summertime muslc course took place in Juty 2024 i>ver 5 days catering for over 110 young musioans of all standard A day of flute workshops took Pla in September followed by a Short pubfK recital from our guest artist Matthew Featherstone. Our first concert of the year the Kyan quartet retum. A5 well as F*rfonning for us the Quartet worked with our Camerats chamber string musicians. In May the Seion quartet from RCM played for us. they indude t¥vo of our PSYM alumni. They were joined by one of our young M1ClanS. tellisL Hugo Svedberg who wa5 a finalist in this yearfs BBC yng Musician of the Year. Injunewe held our popular annualtea and cakeconcert In September, Marttn Handley and Wlnd Quintet frie1 perfornied for us. The wind quintet all lay together a5 prinapals ofthe Bournemouth Symphony Orchestra Our ever-popular Christmas concert was the final event of the year. Our musical director was given a fee from ourfunds (7wdnsing events and in 2024 this wa5 £150. FINANCIAL REVIEW Flnancial positi( The charity held reseNes of E46.892 as at 31 Dmber 2024 (2023: £39.6211. The tnfjtees consider this level of reser¥e5 necessary to run the charity in an ordety and pNdent manner. Prinapal funding sources Soundstonn and the FrDSt Trust continue to provide fLdi to help supwt our educational projects. Principle SOUrS of funding come ticket sales and donations / sponsorship fn>rn priwate donors & organlsatlons, as well as fees paid to attend workshops.
POOLE soaETY FOR YOUNG MUSICIANS REPORT OFTHE TRUSTEES forthe Year Ended 31 Decernber 2024 HNANaAL REVIEW GoivYK concern The tnJ5tee5 have a reasonable expertation that the charrty has adequate resou$ to continue In operational existen for the foreseeable future. For this reason they continue to adopt the going concem basis in preparing the flnancial statements. sfRUCTURE. GOVERNANCE AND MANAGEMENT The diarity is a Charitable Incorporated Or8anisation controlled by its goveming documen¢ the foundation mcKlel constitution. Recruilment and appolntfflent of newtrustees Our trustees are committee member5 who them5e]vesforward as twstees and are duly appointed. There are no employee& Everyone involved In the tharity is a volunteer. As part of our constltution, trustees who are musicians, are entitled tt) receive payment when they perform for us. Our musical director receives è flat fee for every event that she fxganises. Approved by order of the board of tntstees on .... ¥ .l..eo£S- ... nd signed on its t*half by: M Casey. Trustee Page 3
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF POOLE SOCIEfY FOR YOUNG MUSICIANS Independent examinerfs report to the trustees of Poole SocRty For YounE Musicians {'the CompanVI I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. ResponsTri ilities and basis of report As the charity's trustees of the Cornpany land also its directors for the purposes of company law) you are responsible for the preparatlon of the accounts In accordance wlth the requirements of the Companie5 Act 2006 lhe 2006 Act.). Having satisfied rnyself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for Independent examination, I report in respect of my examlnation of your charity's accounts as carried out under Section 145 of the Charltles Art 2011 lhe 2011 Act,). In carryin8 Out my examlnatlon I have followed the Directions given by the Charlty Cornmission under Section 145151 {b} of the 2011 Act. Independent examiner'5 Statement I have cornpleted my eJamination. I confirm that no matters have come to rny attention in connectlon wlth the examination glving me cause to believe: accounting records were not kept In respect of the Company as required by Section 386 of the 2006 Act. or the accounts do not accord with those records; or the accounts do not cornpty with the accountlng requlrements of Section 396 of the 2006 Art other than any requirement that the account5 8Ne a true and falr view which is not H matter considered as part of an Independent examination. or the accounts have not been prepared in accordan with the methods and prlnciples of the Statement of Recommended Practice for accounting and reporting by charities lappllcable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republlc of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report In order to enable a proper understanding of the accounts to be reathed. John Enhance Chartered Accountants & Business Advisers 38 Middlehill Road Wimborne Dorset BH212SE 2 May 2025 Page 4
POOLE SOOETY FOR YOUNG MUSICL4NS srATEMENT OF HNANCIAL ACnVmES for the Year Ended 31 December 2024 2024 Unrestricted fund 2023 Totsl funds Notes INCOME AND ENDOWMENTS FROM Donations and le8acies .154 5,720 Other trading activities 41.773 47.000 Total 49,927 52,720 EXPENOITURE ON Rai5rng fund5 15.473 11.213 Charitable aclivitles Charltsble artiwities 27.183 31.063 Other 3,955 Total 42.656 46,231 NEf INCOME 7,271 6,489 RECONaLIATION OF FUNDS Total fun(ts brouBht forward 39,621 33,132 TOTAL FUNDS CAIIRIED FORWARD 46.892 39,621 The notes form part of these financial statements
POOLE soaEfi FOR YOUNG MUSICIANS BALANCE SHEET 31 December 20Z4 2024 Unre5tritted fund 2023 TDta5 funds Notes QJRRENT ASSETS Debt015 Cash at bank and in hand 1,9S7 46.713 3,006 38,872 48,670 41.878 CREDffORS Amounts faning due withln one year {1,778) 12,2571 NEf CURRENT A$5Ers 4692 39,621 TOTALASSEfs iESS CURREKT UABAUTIES 46,892 39,621 46,892 39.621 FUNDS Unrestrlrted fvnds 46,892 39,621 TOTAL FUNDS 46,892 39,621 The tharitable company is entitled to exemption from audit under Section 477 of the Companie5 Art 2006 for the year ended 31 December 2024. The members have not requlred the company to obtain an audit of Its financial statements for year ended 31 December 2024 In accordance with Section 476 of the Companles Act 2(Kl6. The trustees acknowledge their responsibilities for (a) en5urlng that the tharitable company keeps accounting records that comply wlth Sections 386 and 387 of the Cornpanies Act 2006 and preparing financial ststements whlch give a true 3nd falr view of the state of affairs of the tharyt3bEe company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Settion5 394 and 395 and which othernise comply with the requirements of the Companles Act 2006 relating to financlal statements, 50 faT as applicabbe to the charitable company. {b) These financlal 5taternerrts have been prepared In ¥cordance with the PrOvn5 appllcable to charitable companies subjert to the small companies regime. The finanual statements were approved by the Board of Trustees and authorlsed for i55ue . and were signed on its behalf by: on M Nicholas- Trustee The notes fonn part of these financial statements Page 6
POOLE SoCIy FOR YOUNG MUSICIANS NOTES TO THE FINANaAL sfATEMENTS for the Year Ended 31 December 2024 ACCOUNfiNG POUCIES Ba51s of preparing the finan¢lal statements The financSal statements of the charltable company, which Is a public benefit entity under FRS 102, have been prepad in accordance with the Charities SORP IFRS 1021 'Accounting and Reportin8 by Charities: Statement of Recommended Practice applicable to charltles preparing thelr accounts in accordance with the Financlal Reportin8 Standard applicable In the UK and Republlc of Ireland {FRS 1021 leffective l January 20191,. Financial Reportlng Standard 102 'The Flnancial Reporting Standard applicable In the UK and Republic of Ireland, and the Companles Art 2006. The financial statements have been prepared under the historlcal c05t conventts)n. Income All Income Is reco8nlsed In the Statement of Flnancial Activitles once the charity has entitlement to the funds, It is probable that the income will be received and the amount can be measured rellably. Expenditure Liabilitles are reco8nised as expendlture as soon as there Is a le8al or constructive obligation committln8 the charity to that expendlture, It Is probable that a transfer of economlc benefits will be requlred In settlement and the amount of the obllgatlon can be measured reliablv. Expenditure is accounted for on an actruals basis and ha5 been classified under headln85 that ag8re8ate all cost related to the category. Where costs cannot be dlrettly attributed to particular headings they have been allocated to actlvltles on a basls consistent with the use of resources. Taxatlon The rharlty Is exempt from corporation tax on its charitable activities. Fund accountlng Unrestricted funds can be used in accordance wlth the charltsble oblectlves at the dlscretlon of the trustees. Re5trirted funds can only be used for particular restricted purposes within the objerts of the charlty, Restrictions arise when specified by the donor or when fund5 are raised for partlcular re5trKted purposes, Further explanation of the nature and purpose of eath fund Is Induded In the notes to the financlal statements. OThER TRADING AcnvmES 2024 2023 Workshop and summer school Sponsorshlps Ticket sèles Refreshment donations 24,056 10.846 6,743 128 25,518 15,563 5.814 105 41.773 47.000 Page 7 continued...
POOLE SOCIM FOR YOUNG MUSICIANS NOTES TO THE FINANCIAL 5TATEMENTS- contlnued for the Year Ended 31 Decernber 2024 RAISING FUNDS Raising donations and legacie5 2024 2023 Hall hire Performers fees Music Advertising and donation5 Support costs 4.166 4.590 722 190 s05 4.350 6.395 827 272 1631} 15.473 11.213 TRusfEES' REMUNERATION AND BENEFITS The musical dirertor received a payment of £1.760 (2023: £2,410) for coathlng and organlslng musical events. Trustees, expenses There were no trustees, expenses pald for the year ended 31 December 2024 nor for the year ended 31 December 2023. COMPARATIVES FOR THESTATEMEKfoF FINANCIAL AcfiviTIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 5,720 Other trading activities 47,000 Total 52,720 EXPENDffuRE ON Raising funds 11,213 Charitable attltIeS Charltable artivities 3L063 Other 3.955 Total 46.231 NET INCOME 6,489 RECONaLIATION OF FUNDS Total funds brought forward 33,132 TOTAL FUNDS CARRIED FORWARD 39.621 PaEe 8 continued...
POOLE SOCIEfi FOR YOUNG MUSICIANS NOTESTO THE FINANCIAL sfATEMETrifs. cofitiThued for the Year Ended 31 December 2024 DEBTORS: APaOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Glft ald recoverable Prepayments and accrt income Prepayments 1,356 1,145 1,098 763 601 1,957 3,006 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accrued expenses 1,778 2.257 MOVEMENT IN FUNDS Net movement In funds At 3111¥24 At 111124 Unrestrirted funds General fund 39,621 7.271 46,892 TOTAL FUND5 39.621 7,271 46,892 Net movement in funds, Included In the above are Js follows: Incomlng resources Resources expended Movement in funds Unreslrlrted funds General fund 49.927 {42,6561 7,271 TOTAL FUNDS 49,927 142,6561 7,271 Comparatives for movement in funds Net movement In funds At 3111V23 At 111123 Unrestricted funds General fund 33.132 6.489 39.621 TOTAL FUNDS 33,132 6.489 39,621 Page 9 continued...
POOLE soaETY FOR YOUNG MUSICIANS NOTES TO THE FINANCIAL STATEMEIfft- continuéd for the Year Ended 31 Detember 2024 MOVEMEKf IN FUNDS- continued Comparative net Movement in funds, included In the above are as follows: Incoming resource5 Resources expended Movement in funds Unrestricted ndS General fund 52,720 (46.2311 6,489 TOTAL FUNDS 52,720 (46,231) 6,489 A current year 12 months and prior year 12 months combined position is as follows: Net movement in fund5 At 31112/24 At 111123 Unre5tTirted funds General fund 33.132 13.760 46.892 TOTAL FUNDS 33,132 13,760 46,892 A current year 12 months and prlor year 12 months combined net movement in funds. included in the above are as follows: IEKoming resources Resour5 expended Movement in funds Unrestricted funds General fund 102,647 (88,8871 13.7E TOTAL FUNDS 102.647 (88.8871 13,760 RELATED PARTY DISCLOSURES There were no related party transactions forthe year ended 31 December 2024. Page 10
POOLE soaETY FOR YOUNG MussaANS DETAILED ATEMENT OF FINANCIAL AcfiviTIE5 for the Year Ended 31 December 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacles Donations and other Income Glft aid 6.798 1,356 4,575 1,145 8,154 5.720 Other tradin8 activitses Workshop and summer School Spon50rshlps Tket sales Refreshment donations 24.056 10,846 6.743 128 25,518 15,563 5,814 105 41.773 47,000 Total in¢oming resources 49.927 52.720 EXPENDrruRE Raisnw donations and legacies H311 hire Performers fees Music Advertising and donations 4,166 4,590 722 190 4.350 6.395 827 272 9.668 11,844 Charilable activities Organisational fees Coaching Tuning Consumables and refreshments 1.100 24,615 125 1.168 i.0 28,049 160 635 27.008 29.994 Support costs Information technology Computer consumable5 60 132 Other Administration fees Accountancv Insuran and membership Safeguarding and pastoral care Carried foNard 1.230 518 i.iio 360 3,218 680 1,050 150 1.880 This page does not form part of the staturory financial statements Page 11
PO(XE soaEfY FOR YOUNG MUSICIANS DETAILED STATEMENTOF FINANaAI ACTIVITIES for the Year Ended 31 December 2024 2024 2023 Other Brought fOr¥ard Postage and stationery Sundries 3,218 548 2,154 857 1,524 5,920 4,261 Total resources expended 42,656 46,231 Net income 7,271 6,489 This page does not fom) part ofthe ststutory financial statements Pa8e 12