Trustees’ Annual Report and accounts
Spinnaker Chorus – Charity no: 1177387
Period from 1 July 2022 to 30 June 2023
Spinnaker Chorus is a barbershop Chorus open to women aged from 16 years in the Portsmouth and surrounding area. The Trustees oversee the day to day running of the club for members. The Chorus does not employ any staff. Spinnaker Chorus is a member of the Ladies Association of British Barbershop Singers (LABBS) which also has charitable status (no: 1151161).
During this reporting period the Chorus was in a period of rebuilding our membership and moving to new premises following the end of the pandemic and periods of government restrictions that prevented us from carrying out our normal activities.
Our structure
We are a member’s organisation led by a Management Committee of volunteers from the Chorus. Our four Trustees are drawn from the Management Committee and include our Chair, Vice-Chair and Treasurer. We hold ten Trustee meetings a year and an annual AGM which was held on 22 February 2023.
Our finances
Our primary source of income is from our members’ monthly subscriptions. We also raise money through singing events and receive small donations. Our financial year runs from 1 July to 30 June and our annual accounts to 30 June 2023 are enclosed. Our accounts have been independently verified by Stuart Hoare, Chartered Accountants.
Our activities
Summary of the main events and activities supporting our charitable objects as set out in our governing document:
- 1 The development of skills in singing techniques at individual and group level through coaching, workshops, rehearsals and performance for the benefit and well-being of women of all ages and backgrounds in the Portsmouth area.
The Chorus meets weekly for rehearsals. Each rehearsal is led by our Musical Director who is a trained barbershop judge and educator. Coaching in barbershop singing techniques is given by him to the Chorus as a whole, and to voice part sections by our Section leaders who are trained in barbershop techniques and giving feedback.
We continued to introduce a new song to learn every eight weeks throughout the year. Each member is required to audition each new song by singing against another voice part, recording it, and sending it to their section leader for evaluation and feedback. Section leaders take time to give specific feedback on technique and areas for development.
Our Musical Director works with our members to identify those with potential for leadership roles and he encourages members to join the physical and vocal warm-up team and to act as Guest Directors at rehearsal to try out directing and to receive feedback on their skills.
In March 2023 we spent a weekend together at a retreat working with an International professional barbershop coach who, together with our MD, taught us singing, musicality and performance techniques and helped us to improve our performance and vocal sound as a group. In September 2023 we received further coaching from an international barbershop coach in advance of our participation in the annual ladies barbershop national competition in Bournemouth.
In April 2023 several of our members attended Harmony College, a national educational event over a weekend organised by the Ladies Association of Barbershop Singers (LABBS). During this weekend participants attend elective workshops on singing techniques and develop new skills by singing with new groups and learning new songs.
Chorus members are encouraged to develop their singing abilities by forming smaller groups including octets and quartets. These activities allow members to develop their singing abilities and to gain self-confidence. Several of these groups participated in local music festivals and were coached by our MD and by other trained barbershop coaches throughout the financial year. One of our quartets also entered the national LABBS quartet contest and received coaching on singing, musicality, and performance as part of the semi-final weekend.
2 The advancement of education in acapella singing in barbershop style through workshops, and musical collaborations for the benefit of the Portsmouth community and across Hampshire and Sussex.
In November 2022 we launched a five week Learn to Sing workshop with an open invitation to anyone in the Portsmouth, Hampshire, and West Sussex area. The workshop was promoted on social media, and we had over 20 participants who joined the Chorus on Wednesday evenings to learn singing techniques and Christmas carols in four-part harmony. The course finished with a concert for family and friends, and the participants were issued with certificates to recognise their achievements.
We actively encourage people to come and see what we do, emphasising that singing is for everyone regardless of background or experience and offering support (through an Angel Fund) to those in financial difficulty. We have an inclusive culture and value diversity in our membership and our audiences. Our Diversity & Inclusion Officer ensures that we reach out to as many groups as possible as potential members and potential audiences for our craft.
In March 2023 our Chair was appointed Vice-Chair of our national association (LABBS) and spent her first months in office visiting other barbershop singing groups and promoting the benefits of four part harmony singing to a national audience.
- 3 The promotion of the craft and artistry of unaccompanied harmony singing through performances and concerts to the public to encourage high standards and bring music to new audiences.
Spinnaker Chorus performs regularly to audiences large and small as part of our public benefit programme. We seek to educate, entertain, and improve individual and collective well-being through the joy of listening to and participating in singing events.
In this period, we established a new relationship with Portsmouth University and performed at their open day events on campus to promote the benefits of singing as a hobby to potential new university students. We also sang at Winchester Christmas Market and Port Solent Christmas Fayre to entertain and educate the wider community in the craft of fourpart harmony singing.
In June 2023 we entered the Bournemouth Music Festival and demonstrated our craft and artistry in a number of musical classes winning two trophies in a strong field of other singing groups. We listened and learnt from the other singing groups.
JC 9 April 2024
Spinnaker Chorus
Charity No. 1177387
Trustee's Report and Unaudited Accounts
30 June 2023
Spinnaker Chorus Trustees Annual Report
The trustee presents their report with the unaudited financial statements of the charity for the year ended 30 June 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1177387
Trustee
The following trustee served during the year:
Nuala Hobden
Jill Cook Nicolette Nason Colleen Potter
Accountants
SHCA Limited 87 London Road Cowplain Waterlooville PO8 8XB
The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed
Nuala Hobden Trustee 26 February 2024
Page 1
Spinnaker Chorus Independent Examiners Report
Independent Examiner's Report to the trustee of Spinnaker Chorus
I report to the trustees on my examination of the financial statements of Spinnaker Chorus for the year ended 30 June 2023.
Responsibilities and basis of report
As the charity's trustee you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
Stuart Hoare ICAEW SHCA Limited 87 London Road Cowplain Waterlooville
PO8 8XB 26 February 2024
Page 2
Spinnaker Chorus Statement of Financial Activities for the year ended 30 June 2023
| Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Other 5 Total Expenditure on: Raising funds 6 Charitable activities 7 Other 8 Total Net gains on investments Net (expenditure)/income Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds | |
|---|---|---|---|---|
| 2023 | 2023 | 2022 | ||
| £ | £ | £ | ||
| 19,014 | 19,014 | 21,334 | ||
| 18,994 | 18,994 | 9,409 | ||
| 6,445 | 6,445 | 4,499 | ||
| 44,453 | 44,453 | 35,242 | ||
| 4,845 | 4,845 | 3,531 | ||
| 32,995 | 32,995 | 11,108 | ||
| 18,322 | 18,322 | 14,163 | ||
| 56,162 | 56,162 | 28,802 | ||
| - | - | - | ||
| (11,709) | (11,709) | 6,440 | ||
| - | - | - | ||
| (11,709) | (11,709) | 6,440 | ||
| (11,709) | (11,709) | 6,440 | ||
| 26,866 | 26,866 | 20,426 | ||
| 15,157 | 15,157 | 26,866 | ||
Page 3
Spinnaker Chorus Balance Sheet at 30 June 2023
| at 30 June 2023 | ||
|---|---|---|
| Charity No. 1177387 Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Creditors:Amounts falling due after more than one year 10 Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 11 Unrestricted funds 11 General funds Reserves 11 Total funds Approved by the trustees on 26 February 2024 |
2023 £ 15,539 15,539 15,539 15,539 (382) 15,157 15,157 15,157 15,157 15,157 |
2022 £ 26,866 |
| 26,866 | ||
| 26,866 26,866 - |
||
| 26,866 | ||
| 26,866 | ||
| 26,866 | ||
| 26,866 | ||
| 26,866 | ||
And signed on their behalf by:
Nuala Hobden Trustee 26 February 2024
Page 4
Spinnaker Chorus Notes to the Accounts
for the year ended 30 June 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
-
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 5
Spinnaker Chorus Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 6
Spinnaker Chorus Notes to the Accounts
2 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Charitable activities Other Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Subscriptions Donations Donations 4 Income from charitable activities Conventions and events Fundraising |
Unrestricted £ 18,894 120 - 19,014 Unrestricted £ 17,130 1,864 18,994 |
Unrestricted funds 2022 £ 21,334 9,409 4,499 35,242 3,531 11,108 14,163 28,802 6,440 6,440 6,440 20,426 26,866 Total 2023 £ 18,894 120 - 19,014 Total 2023 £ 17,130 1,864 18,994 |
Total funds 2022 £ 21,334 9,409 4,499 |
|---|---|---|---|
| 35,242 3,531 11,108 14,163 |
|||
| 28,802 | |||
| 6,440 | |||
| 6,440 | |||
| 6,440 20,426 |
|||
| 26,866 | |||
| Total 2022 £ 15,034 4,300 2,000 |
|||
| 21,334 | |||
| Total 2022 £ 7,188 2,221 |
|||
| 9,409 |
Page 7
Spinnaker Chorus Notes to the Accounts
5 Other income
| HMRC gift aid tax recovery Other income Grants 6 Expenditure on raising funds Costs of generating voluntary income Subscriptions Fundraising trading costs 7 Expenditure on charitable activities Expenditure on charitable activities Conventions and events Governance costs 8 Other expenditure Directors expenses Wardrobe & other costs Coaching Donations Premises costs General administrative costs |
Unrestricted £ 4,046 2,399 - 6,445 |
Total 2023 £ 4,046 2,399 - 6,445 |
Total 2022 £ 2,986 1,013 500 |
|---|---|---|---|
| 4,499 | |||
| Unrestricted £ 4,845 - 4,845 Unrestricted £ 32,995 32,995 Unrestricted £ 2,715 6,354 1,576 815 4,492 2,370 18,322 |
Total 2023 £ 4,845 - 4,845 Total 2023 £ 32,995 32,995 Total 2023 £ 2,715 6,354 1,576 815 4,492 2,370 18,322 |
Total 2022 £ 3,015 516 |
|
| 3,531 | |||
| Total 2022 £ 11,108 |
|||
| 11,108 | |||
| Total 2022 £ 2,740 3,713 870 1,000 3,588 2,252 |
|||
| 14,163 |
9 Staff costs
No employee received emoluments in excess of £60,000.
Page 8
Spinnaker Chorus Notes to the Accounts
10 Creditors:
amounts falling due after more than one year
| Deferred income 11 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 12 Analysis of net assets between funds Net current assets Creditors due in more than one year and provisions 13 Reconciliation of net debt Cash and cash equivalents Net debt |
2023 £ |
2022 £ |
||
|---|---|---|---|---|
| 382 | - | |||
| At 1 July 2022 26,866 26,866 |
382 Incoming resources (including other gains/losses ) £ 44,453 44,453 At 1 July 2022 £ |
Resources expended £ (56,162) (56,162) Unrestricted funds £ 15,539 (382) 15,157 Cash flows £ |
- | |
| At 30 June 2023 £ 15,157 |
||||
| 15,157 | ||||
| Total £ 15,539 (382) |
||||
| 15,157 | ||||
| At 30 June 2023 £ |
||||
| 26,866 | (11,327) | 15,539 | ||
| 26,866 26,866 |
(11,327) (11,327) |
15,539 | ||
| 15,539 | ||||
Page 9
Spinnaker Chorus Statement of Cash flows for the year ended 30 June 2023
| Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Net cash (used in)/provided by operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2023 £ (11,709) (6,445) (18,154) 6,445 6,445 - (11,709) 26,866 15,157 |
2022 £ 6,440 (4,499) |
|---|---|---|
| 1,941 4,499 |
||
| 4,499 | ||
| - | ||
| 6,440 | ||
| 20,426 | ||
| 26,866 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 15,539 | 26,866 |
| 15,539 | 26,866 |
Page 10
Spinnaker Chorus Detailed Statement of Financial Activities
for the year ended 30 June 2023
| Income and endowments from: Donations and legacies Subscriptions Donations Donations Charitable activities Conventions and events Fundraising Other HMRC gift aid tax recovery Other income Grants Total income and endowments Expenditure on: Costs of generating donations and legacies Subscriptions Costs of other trading activities Total of expenditure on raising funds Charitable activities Conventions and events Total of expenditure on charitable activities Other expenditure Directors expenses Wardrobe & other costs Coaching Donations Premises costs Rent |
Unrestricted funds 2023 £ 18,894 120 - 19,014 17,130 1,864 18,994 4,046 2,399 - 6,445 44,453 4,845 4,845 - - 4,845 32,995 32,995 32,995 2,715 6,354 1,576 815 11,460 4,492 |
Total funds 2023 £ 18,894 120 - 19,014 17,130 1,864 18,994 4,046 2,399 - 6,445 44,453 4,845 4,845 - - 4,845 32,995 32,995 32,995 2,715 6,354 1,576 815 11,460 4,492 |
Total funds 2022 £ 15,034 4,300 2,000 |
|---|---|---|---|
| 21,334 | |||
| 7,188 2,221 |
|||
| 9,409 | |||
| 2,986 1,013 500 |
|||
| 4,499 | |||
| 35,242 3,015 |
|||
| 3,015 | |||
| 516 | |||
| 516 | |||
| 3,531 11,108 |
|||
| 11,108 | |||
| 11,108 2,740 3,713 870 1,000 |
|||
| 8,323 | |||
| 3,588 |
Page 11
Spinnaker Chorus Detailed Statement of Financial Activities
| Spinnaker Chorus Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| General administrative costs, including depreciation and amortisation Software, IT support and related costs Sundry expenses Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
4,492 626 1,744 2,370 18,322 56,162 - (11,709) (11,709) - (11,709) 26,866 15,157 |
4,492 626 1,744 2,370 18,322 56,162 - (11,709) (11,709) - (11,709) 26,866 15,157 |
3,588 |
| 324 1,928 |
|||
| 2,252 | |||
| 14,163 | |||
| 28,802 - |
|||
| 6,440 | |||
| 6,440 - |
|||
| 6,440 | |||
| 20,426 | |||
| 26,866 |
Page 12
Spinnaker Chorus
Charity No. 1177387
Trustee's Report and Unaudited Accounts
30 June 2023
Spinnaker Chorus Trustees Annual Report
The trustee presents their report with the unaudited financial statements of the charity for the year ended 30 June 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1177387
Trustee
The following trustee served during the year:
Nuala Hobden
Jill Cook Nicolette Nason Colleen Potter
Accountants
SHCA Limited 87 London Road Cowplain Waterlooville PO8 8XB
The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed
Nuala Hobden Trustee 26 February 2024
Page 1
Spinnaker Chorus Independent Examiners Report
Independent Examiner's Report to the trustee of Spinnaker Chorus
I report to the trustees on my examination of the financial statements of Spinnaker Chorus for the year ended 30 June 2023.
Responsibilities and basis of report
As the charity's trustee you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
Stuart Hoare ICAEW SHCA Limited 87 London Road Cowplain Waterlooville
PO8 8XB 26 February 2024
Page 2
Spinnaker Chorus Statement of Financial Activities for the year ended 30 June 2023
| Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Other 5 Total Expenditure on: Raising funds 6 Charitable activities 7 Other 8 Total Net gains on investments Net (expenditure)/income Transfers between funds Net (expenditure)/income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Total funds | Total funds | |
|---|---|---|---|---|
| 2023 | 2023 | 2022 | ||
| £ | £ | £ | ||
| 19,014 | 19,014 | 21,334 | ||
| 18,994 | 18,994 | 9,409 | ||
| 6,445 | 6,445 | 4,499 | ||
| 44,453 | 44,453 | 35,242 | ||
| 4,845 | 4,845 | 3,531 | ||
| 32,995 | 32,995 | 11,108 | ||
| 18,322 | 18,322 | 14,163 | ||
| 56,162 | 56,162 | 28,802 | ||
| - | - | - | ||
| (11,709) | (11,709) | 6,440 | ||
| - | - | - | ||
| (11,709) | (11,709) | 6,440 | ||
| (11,709) | (11,709) | 6,440 | ||
| 26,866 | 26,866 | 20,426 | ||
| 15,157 | 15,157 | 26,866 | ||
Page 3
Spinnaker Chorus Balance Sheet at 30 June 2023
| at 30 June 2023 | ||
|---|---|---|
| Charity No. 1177387 Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Creditors:Amounts falling due after more than one year 10 Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 11 Unrestricted funds 11 General funds Reserves 11 Total funds Approved by the trustees on 26 February 2024 |
2023 £ 15,539 15,539 15,539 15,539 (382) 15,157 15,157 15,157 15,157 15,157 |
2022 £ 26,866 |
| 26,866 | ||
| 26,866 26,866 - |
||
| 26,866 | ||
| 26,866 | ||
| 26,866 | ||
| 26,866 | ||
| 26,866 | ||
And signed on their behalf by:
Nuala Hobden Trustee 26 February 2024
Page 4
Spinnaker Chorus Notes to the Accounts
for the year ended 30 June 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
-
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 5
Spinnaker Chorus Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 6
Spinnaker Chorus Notes to the Accounts
2 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Charitable activities Other Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Subscriptions Donations Donations 4 Income from charitable activities Conventions and events Fundraising |
Unrestricted £ 18,894 120 - 19,014 Unrestricted £ 17,130 1,864 18,994 |
Unrestricted funds 2022 £ 21,334 9,409 4,499 35,242 3,531 11,108 14,163 28,802 6,440 6,440 6,440 20,426 26,866 Total 2023 £ 18,894 120 - 19,014 Total 2023 £ 17,130 1,864 18,994 |
Total funds 2022 £ 21,334 9,409 4,499 |
|---|---|---|---|
| 35,242 3,531 11,108 14,163 |
|||
| 28,802 | |||
| 6,440 | |||
| 6,440 | |||
| 6,440 20,426 |
|||
| 26,866 | |||
| Total 2022 £ 15,034 4,300 2,000 |
|||
| 21,334 | |||
| Total 2022 £ 7,188 2,221 |
|||
| 9,409 |
Page 7
Spinnaker Chorus Notes to the Accounts
5 Other income
| HMRC gift aid tax recovery Other income Grants 6 Expenditure on raising funds Costs of generating voluntary income Subscriptions Fundraising trading costs 7 Expenditure on charitable activities Expenditure on charitable activities Conventions and events Governance costs 8 Other expenditure Directors expenses Wardrobe & other costs Coaching Donations Premises costs General administrative costs |
Unrestricted £ 4,046 2,399 - 6,445 |
Total 2023 £ 4,046 2,399 - 6,445 |
Total 2022 £ 2,986 1,013 500 |
|---|---|---|---|
| 4,499 | |||
| Unrestricted £ 4,845 - 4,845 Unrestricted £ 32,995 32,995 Unrestricted £ 2,715 6,354 1,576 815 4,492 2,370 18,322 |
Total 2023 £ 4,845 - 4,845 Total 2023 £ 32,995 32,995 Total 2023 £ 2,715 6,354 1,576 815 4,492 2,370 18,322 |
Total 2022 £ 3,015 516 |
|
| 3,531 | |||
| Total 2022 £ 11,108 |
|||
| 11,108 | |||
| Total 2022 £ 2,740 3,713 870 1,000 3,588 2,252 |
|||
| 14,163 |
9 Staff costs
No employee received emoluments in excess of £60,000.
Page 8
Spinnaker Chorus Notes to the Accounts
10 Creditors:
amounts falling due after more than one year
| Deferred income 11 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 12 Analysis of net assets between funds Net current assets Creditors due in more than one year and provisions 13 Reconciliation of net debt Cash and cash equivalents Net debt |
2023 £ |
2022 £ |
||
|---|---|---|---|---|
| 382 | - | |||
| At 1 July 2022 26,866 26,866 |
382 Incoming resources (including other gains/losses ) £ 44,453 44,453 At 1 July 2022 £ |
Resources expended £ (56,162) (56,162) Unrestricted funds £ 15,539 (382) 15,157 Cash flows £ |
- | |
| At 30 June 2023 £ 15,157 |
||||
| 15,157 | ||||
| Total £ 15,539 (382) |
||||
| 15,157 | ||||
| At 30 June 2023 £ |
||||
| 26,866 | (11,327) | 15,539 | ||
| 26,866 26,866 |
(11,327) (11,327) |
15,539 | ||
| 15,539 | ||||
Page 9
Spinnaker Chorus Statement of Cash flows for the year ended 30 June 2023
| Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Net cash (used in)/provided by operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2023 £ (11,709) (6,445) (18,154) 6,445 6,445 - (11,709) 26,866 15,157 |
2022 £ 6,440 (4,499) |
|---|---|---|
| 1,941 4,499 |
||
| 4,499 | ||
| - | ||
| 6,440 | ||
| 20,426 | ||
| 26,866 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 15,539 | 26,866 |
| 15,539 | 26,866 |
Page 10
Spinnaker Chorus Detailed Statement of Financial Activities
for the year ended 30 June 2023
| Income and endowments from: Donations and legacies Subscriptions Donations Donations Charitable activities Conventions and events Fundraising Other HMRC gift aid tax recovery Other income Grants Total income and endowments Expenditure on: Costs of generating donations and legacies Subscriptions Costs of other trading activities Total of expenditure on raising funds Charitable activities Conventions and events Total of expenditure on charitable activities Other expenditure Directors expenses Wardrobe & other costs Coaching Donations Premises costs Rent |
Unrestricted funds 2023 £ 18,894 120 - 19,014 17,130 1,864 18,994 4,046 2,399 - 6,445 44,453 4,845 4,845 - - 4,845 32,995 32,995 32,995 2,715 6,354 1,576 815 11,460 4,492 |
Total funds 2023 £ 18,894 120 - 19,014 17,130 1,864 18,994 4,046 2,399 - 6,445 44,453 4,845 4,845 - - 4,845 32,995 32,995 32,995 2,715 6,354 1,576 815 11,460 4,492 |
Total funds 2022 £ 15,034 4,300 2,000 |
|---|---|---|---|
| 21,334 | |||
| 7,188 2,221 |
|||
| 9,409 | |||
| 2,986 1,013 500 |
|||
| 4,499 | |||
| 35,242 3,015 |
|||
| 3,015 | |||
| 516 | |||
| 516 | |||
| 3,531 11,108 |
|||
| 11,108 | |||
| 11,108 2,740 3,713 870 1,000 |
|||
| 8,323 | |||
| 3,588 |
Page 11
Spinnaker Chorus Detailed Statement of Financial Activities
| Spinnaker Chorus Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| General administrative costs, including depreciation and amortisation Software, IT support and related costs Sundry expenses Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
4,492 626 1,744 2,370 18,322 56,162 - (11,709) (11,709) - (11,709) 26,866 15,157 |
4,492 626 1,744 2,370 18,322 56,162 - (11,709) (11,709) - (11,709) 26,866 15,157 |
3,588 |
| 324 1,928 |
|||
| 2,252 | |||
| 14,163 | |||
| 28,802 - |
|||
| 6,440 | |||
| 6,440 - |
|||
| 6,440 | |||
| 20,426 | |||
| 26,866 |
Page 12