Cliarlty conirni55ion Reference Niimbtr- 1176729 ]YEW SURREY PERFORMIIYfp ARTS I,JBRARY TRUSTEES, ANNUAI. REPORT AND AC.C.'OUNT8 FOR THE FINANCIAI. YF.AR I APRII. 2023 1-0 31 MARCII 2024 BULLIMORES LLP Cliail¢red Accountaiits Old Prinlets Yard 156 %c)uil) Sireel I)orking Surrey RF14 2HF
Page I Tr4KW SURREY PERFORMING ARTS LIBIL4RY SIGNIFICANT INFORMATION FOR THE FINANCIAL YEAR I APRIL 2023 TO 31 MARCH 2024 TRUSTEES: Carol Hall Su Kin8sley Peter Linnitt (appointed 5 March 2024) Sharon Moloney Paul McKay Kate Mcwhirter Ges Ray Mark Welling Anna Wright {resigned 9 January 2024) REGISTERED OFFICE: Bourne Hall Spring Street Ewell Epsom KT17 IUF (I) CAF Bank.. (2) Saniander ACCOUNTANTS: Old I'riiilcT4 Y4ird %uriry
Page 2 NEW SURREI Y PERFORMING ARTS LIBRARY TRUSTEES, REPORT FOR THE FINANCIAL YEAR I APRIL 2023 TO 31 MARCII 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT New Sutrey Perfurniing ATt5' Librdry l NewSPAL' or ihe "CIO") was formed on 18 January 2018 as a Chai'ilable InLO[porIed OTglliii5alion and is govenied by a constilulion based on the Foundation model foi. CIOS Apan from Ilie firbi Tnjslees, every Trustee Inubl be appointed for a iemi of three years by a resolution passed ai a properly coiiveiied Ineeiing of the Tti]%iee%. The TN$iees listed above liave, where not othenwise specified, been duly appoinied or reappvinteJ for Il)ree-year ienns in ac¢ordaii¢e willi this requireineni. OWECTIVES AND ACTIVITIES Tlie cliaiily'% ubjeLlives are ih¢ piuinolitsn. iniprovem¢nl, dtv¢lupment and mainlenanLe ol public educalioii in, and appr¢Liuliun of, thg ail dnd .4Lje]IL¢ uf Inusic, drama and other perforniin¥ iiris throuuyh Ihe provi%ion ol. a lendin¥ libr? ry of rnusiLal, drdill£iliL (Jnd other perloTmin8 arts material and lileralure. In setting our objectives, Ilie Trustee8 have considered Ihe Cliarily Commi5sivn's publiL benekit guldance. ACTIVITY DURINC THE ACCOUNTINC PERIOD The accoviiiing period Lovers the first full year of operalions as a hire or lenLlin¥ library uf p¥rfurn]ingF dr15 IndltTial {orLliebiral seis. Choir sets. oiher sheei music. play seis and books relaiing Io dll the pgrfonninLT arts). Pur5Udnl lo agreements. wilh Surrey Couniy Council {"SCC") NewSPAL li) occupies L¢rt¢Jin dediLaled space withiii Ewell LibTary (contributing) on an Jgreed basis to the property-relatrd overheads aityibu¢able io Ihai spaL¢I dnd lil) Ill&tndgTes on a wholly indepeiideni basis the Lolle¢iioii of perforn)ing arts maierials owned ai)d fomjerly manag7ed by SCC linilially foi a Iwu-y¢ar lrial period ending> in Augusi 2024) as well as siock acquired by NewSPAL or donated to it. Key developmenis during ihe a¢Louniing period were ihe following.. 143 new groups {drawn from all part5 of the Uniled Kit]gdoml registered as group borrowers during the IiLcounling period {representing 12 on average per month). A 8mall number of individual borrowcrs Imaijily fron) lh¥ Sutrey artil) also joined. At 31 March 2024 NewSPAL liad.. 348 regislered muqic &Jroup borrowers: 57 regTjSl¢ied play Bioup bOoWers,. )d 142 registered individual borrowers. Group borrowers pay a oiie-off re&Tislralion lee aller whicli they just pay for stock they borrow (i.e. there is no aiinual subscripiionl and any asbocialed post and packaging charges. Individual members pay an annual subscripiion and may ilien borrow bouks or sheet music (up to specified limilsl withoul further charge. Ncw8PAI. henefilled from a number of donations of 8iock lin¢ludiDg or¢l)c.siral and clinral 8ei81 whiLh liave bceii added io Ihe collection. In addition, certain donatcd items ICDS and shcci mu.%lLI which were Iioi appropiiaie 10 add lo the siock were {wiih rhe conseni of tl)e donors) sold 10 raise mode%1 ai?iounL% of iiioney to 5ppOi"l operaiions. The Clo's cohort of approximalcly 20 voluntccrs havc provided important support 10 the l-salariedl l.ibrary Managcr at]d DcpLily Library Manager a8 well a8 continuing lo work on a comprehcn.8ivc rcvicw of tlic catalogue cnlric.% lo providc enhanced information for users. In Novenjber 2023 NtwSPAL lield ali open nieeling Iby £oom} lo whirl) 411 regisLtr¢d Ubers were invilrd. Ai Ilie n)eeiiJig the NewSPAL 'lwsiees repoded Ilie resulis of operaiivns. discussed opporluiiitie5 lor lurilier developmen. aiid Lliallenges and aT]bw¢i¥d qu¢stlOlJb raised by thos¢ (Itteiiding. In Jaiiuary 2024 Anna WrigThi. d toundii)K Iruylee of NewSPAL. resigned to Lonceniraie on her other inlere5ts. Her deep knowledgie of Ihe library seLlof dnd IiJn&T experienLe ol nlill)aLTillLI a larLie Jnu5iL library had been invaluable 10 NewSPAL. parilLUl<IY durin& the prujeLt period b¢luie NewSPAL becaine operational. At the 5anie lime, NewSPAL lurlundte to iijentily anuiher experienced music librarian (Peler Linniti) as a possible repl£icenieiil Irusle¢. Peter was turrnally appointed to the Iruslee boaid iji N4arcl) 2024. In Febiuary 2024 NewSPAL prop0ed lo SCC a ba.%i$ on which the ¢urrei)t operaiing arraiigeinents should conlijiue afier the expiry lin Augusi 2024) of the ii)itial trial period.
Page 3 NEW SURREY PERFORMINC. ART8 LIBRARY TRUSTEES, REPORT {cvntinued) FOR THE FIf4ANCIAL YEAR I APRIL 2023 TO 31 MARCH 21124 FINANCIAL REVIEW The a¢¢OUntin period covers Ihe tir51 full year of. opuations by NewSPAL {op¢ralions started on 22 Augu$1 2022) and, accordingly, direci Comparison ol'results fiom operalioiis in ihe previous a¢Lounling period is not possible. Throughout Ilie accounting period NewSPAL has been generating incorne from operations while still benefiiiing from donalioiis (includinb, wliere available, GiltAidl, includijig donali¢)ns in kind (for exdn)ple. of puteniial ¥to¢k io adJ tu the olleclion). Soliware support to the value of £3,950 was also provided free of charge by a supporter. NewSPAL is regislered lor VAT and, overall, has beeii able to benelit lijiancially from refunds of VAT. Total income from all s()urLe8 in the accounting period was £78,140, of which £14,152 ¢omes from donations (ind grdnts. Total expcnditure durijig Ihe wliole ol Ihe a¢counlin¥ period was £92,125. Apart from expendi(uie incurred for ihe proper administration and governance ol. Ihe CIO, all expenditure duiiiig th¢ financial period was used Io support oper<ilions. More inforniation on income and expendilurc Gan be found in the financial staten]ents ihis document. In 2023 Ihc British Library, whieh administers the Inier Library Loat] IILLI scheme in which NewSPAL participates. wa5 the siibjcct of a .%ignificoJlt ¢yber-aiiack. -I'his led 10 the suspension of paytnents to or by the Biilish Library involvlng participaiing librari&8. Ai 31 March. NewSPAL had a net exposuie to the British Library of £1,705. Jn July 2024 tlie ilriii8h Library introduced a new schenie to enable scttlcmcnts, at)d at the time of signin8 these accounts, £821 has been received. The lrns¢ec8 are confidlt thai ihe remainder will also be rccovercd. During Ihc a¢ctsunting period, expenditure exceedcd incornc. Whcrc dircct coniparison is possible {i.e. from Au8U%t 20231, income from operations in each quarter ha.% becn highcr than in the correspnnding quarter in the previi)us accounting period. Thi.$ 1.8 mainly aiiributable 10 inore groups 1< nd individuals (from all ovcr thc Unitcd Kingdom) involvcd in amatcur music-making and amaieur drania activity registering lo borrow stock fron] NCWSPAL. Whilc cyclical in naturc, cxpenditure ha8 becn cai"efully conlrolled, leading to a net gradual convcrgcncc of incomc and expenditure ovcr thc collrsc of ihc accounting period. The Trustee% cxpect tliis trcnd to continuc. Ab8ent any unforeseen eveni$, the Trll$rCe. are reasonably ablc io forc¢a%i cxpcndilure for the actouniing perii>d started l April 2024. During that accounting pcriod, thc Trusiees expect to see the ¢onverEeiice of income and expenditurc conlinuing and, on thi. b&%is (and having rcgard to NewSPAL's exLSling finai)cial resources), the Tru¥lecs con8idcr thc CIO to bc a g(>ing concern. Thc Tn]%icc.% inicnd io ensure that. at all times, the CIO lias sufficicnt fund8 to pcnnit an orderly winding up of the CIO should that ever ia become necessary. FORWARD-LOOKING CONSIDERATION While NewSPAL ib operationally independet)t, the majority of ihe stock which it manages, continues to be owned by SCC. The hire charges arising from lending siock to registered borrowers constitutes the majoriiy of New SPAL'S income. NewSPAL occupies space in Ewell Library (o SCC public library) which in turn is pari uf Bourne H(Ill la mulii-purpose building owned by Epsom and Ewell Borough Council). NewSPAL Inlag¥S th# LulleLtion dnLI occupies space in Ew¢ll Library under legal ¢igreemenis entered inio wilh ihe relevani pariies in Augus¢ 2022 for an inilial lridl peTiod of Iwo yeaTS. NewSPAL has made fomial proposals 10 SCC to Lonlinue Ihe current Arrangements bvih for the maniigem¢Tht uf ihe SCC sto¢k and oc¢upaEion of space in Ewell Libiary. At the time of signing thebe £icLountS the Trusteeb have nu reason to expect that agreemeni will nul be leached lu extend the fLuYent atTangement¥ on tern] acceptable to all partiey.
PAge 4 NEW SURREY PERFORMINCF ARTS LIBRARY TRUSI'EES, REPORT (continued) 'OII TIIE filNANCIAJ. YTr.AR I APRIL 2023 TO 31 MARCH 2024 PAYMELYI'S I'O TRUSTEES In the a¢eouniing riod, there were no paymcnts made to any of ihe TNslces. ASSETS AND RD:SF.RVES At 31 March 2024 the CIO had total net as8cI.$ Ica8h at bank and in hand) of £50,055. The Trustees do not consider il appropriate lo designate any funds as a forn]al reserve. The Trustees do. however, regularly revicw thc funcIal position ol. the CIO and regularly update Ihe CIO'$ budgct and cash-flow projections lo ensure that at all times thc CIO is able lo meel its cotnmitted expendiwre and other debts as they fall duc. JNCOME DISTRIBufioN The Ttustees consider that all dislribulions of incomc made during the accounling period were consi8tcnt with its charitable puoSes. PUBLIC BI:NLFIT In exercising their powers and duties the Trnstees havc complied with their duly to have due regard to thc guidance on public benefii publishcd by the Charity Commi.%8ion. Approved and signed on behalf of thc TNslces= M& Coe Chairn)an- Mark Welling Datc.. 30 S kmbe( 202+
Page S NEW SURREY PERFORMING ARTS LIBRARY INDF.PENDEN'f EXAMlJ¥kR'S REPORT TO THE TRUSTEES "OR THE PERIOD FROM I APRIL 2023 TO 31 MARCH 2024 I report tn the lrn$ic¢8 on my examination of Il)e accounis ofNewSPAL {Ihe CIO) for the period ended 31 March 2024, which are set out on pageq 7 to 9. Responsibilities and basis tsf report As thc charity Irusieel of the CIO you arc respon4ible for the preparation of the accounts in ac¢ordance with the requircmcnis of the Charities Act 2011 I'ihe A¢t'). I report in rcspcct of Jny examinaiion ol Ilie CIO'5 accounts carried oul uiidEf section 145 of the Acl and in carrying out my cxamination I have followed all Ilie applicablc Diieclions givcn by lh¢ Cliarily CoJnmi5sion under section 14515Mb) of ilie Act. Independent examiM¢r's statement I have compleied my exan)ination. I confjnn that no material inaiicr$ have coimc to my allenlion in conncction with the examination giving me cause io believe that in any maierial rcspect.. accounting records were not kept in respe¢l of the CIO as required by section 130 of the Act- or the accounts do not Acctrrd with those record8. I have no conccm.8 and have conic acros5 no oihcr maiicf8 Its ¢OT)iieclion witli the exarninalton to which alleniion should be drawn in Ihis rcport I order to cnable a proper und¢r8ianding of the accounts lo be reached. Nome of principal.. Margarei Breti FCA Name of firni.. Bullimores LLP Chartered Accountan15 and Kegislcrcd Auditor5 Address.. Old Prinier8 Yard 156 South Sireei Dorking Surrcy RJ44 2HF Date = // 202(*
PY4ge 6 NEW SURREY PERFORMIf4G ARTS LIBRARY FOR THE PERIOD FROM I APRIL 21)23'ro 31 MARCH 2024 The reiptS and payments account set out on page 7 for ihe financial period ended 31 March 2024, and the statement of asse¢s and liabilities at thai date set out on page 8 together with ihe notes set out on page 9 ar¢ approved by the Trustees. K M¢Whirter- Treasurer Dttte..
r4LW SURREI Y PERFORMING ARTS LIBRARY Pagt 7 RECEIPTS AIYD PAYI4qENTS ACCOUNT FOR THE PERIOD FROM I APRIL 2023 TO 31 MARCH 2024 2024 Unrestrffttted FuRid$ 2024 Restricted 'und5 2024 Total Funds 2023 Total Funds RECEIFrs Dtsnations received (including related Gift Aid) Grants received Bank inleresi Hire cliarges Services Sales of Donated lieiiiy VAT on hire chargeslservices Mis¢ receipt VAT refunds from HMRC 13,777 375 14,152 34,305 10.000 97 32,260 852 415 53,497 415 53,497 790 124 790 124 173 9,162 9,162 3,875 TOTAL RECEIPTS 375 78.140 81,564 PAYMENTS Bank Charges Stock hire ¢har8e5 Bookkeeping Insurancc Computer expcnses Lcgal and profe%sional fees Office expen%es, repairs and maintenance Printing. postagc and stsiionery Advertising Rcnt & service ch4rg¢s Salaries Project management fees Soliwarc Staff training and rectuiiment Subscription. Travelling cxpenses Trusiee expen8es Evenis Fumiture and equipment Direct po8tage and Pic ckaging costs Stock piirehases VAT incurred on payments 1,471 96 3.142 151 80 1,235 652 2,107 1,471 96 3,142 151 449 1,235 652 2,107 1,099 2,247 141 1,982 974 987 3,087 57 13,776 26,395 17,700 5,041 2,755 223 72 69 I,J14 6,109 2.462 869 6,787 369 22,650 38.567 22,650 38,567 5,318 5.318 482 147 482 147 388 388 5,404 1,660 8,206 5,404 1,660 8,206 TOTAL PAYMENTS 91.368 757 92.125 94,148 NE1. IDETrICITIISURPLUS FOR THE YEAR {13.603) {382) 113,985) (12,584) Bank balan¢es ai l April 2023 62,942 1,098 64,040 76.624 Transfer between Fujjds Total C#5h funds at 31 March 2024 716 50,055 64,040
Page 8 P4EW SURRF.Y PERFORMING ARTS LIBRARY ST ATEMENT OF ASSETS Af4D LIABILII'lkS AT 31 MARCH 2024 2024 Unrestricted Fund$ 2024 Restricted Funds 2024 Tot41 Funds 2023 Tot%1 FuThds MOF4ETARY ASSLITS Bank client accounts 47,518 2,537 50.055 64,040 TOTAL ASSETS 47.518 2.537 50,055 64,040 Approvcd and signed on behalf of ihe Trustees.. M Welling - Chaimian K Mcwhirier - Treasurer Dale..
Page 9 NEW SURREY PERFORMINC ARTS LIBRARY NOI'LS TO THE ACCOUNTS FOR THE PERIOD FROM I APRIL IV23 TO 31 MARCH 2024 Basis ofAecounts The ALcounis have been preparcd a receipts and payinenis basi5 it] accordance with S133 nf Ihc Charitie.% Aci 2011.