**Spinnaker Chorus – Charity no: 1177387**
## **Trustees’ Annual Report and accounts**
## **Period from 1 July 2023 to 30 June 2024**
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).
## **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 21 February 2024.
## **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 2024 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 January 2024 our Musical Director and Deputy Musical Director attended a Directors workshop organised by the male and female barbershop UK associations. They developed
their individual skills and learnt from experienced coaches and other MDs from across the UK.
In March 2024 we spent a weekend together at a retreat working with a 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 2024 we received further coaching from the Musical Director of a gold medal winning barbershop chorus in advance of our participation in the annual ladies’ barbershop national competition in Harrogate.
During the year some of our members attended education events organised by the Ladies Association of Barbershop Singers (LABBS) including a foundation course covering Singing, Musicality and Performance.
Chorus members are encouraged to develop their singing abilities by forming smaller groups including octets and quartets and during this period we saw the number of participants grow. These activities allow members to develop their singing abilities and to gain selfconfidence. Several of these groups participated in local music festivals and were coached by our MD and by other trained barbershop coaches throughout the period. Groups of singers from our club participated in the Portsmouth Music Festival, the Chichester Music Festival, The Isle of Wight Festival and the Fareham Music Festival. Two of our quartets entered the national LABBS quartet contest and received coaching on singing, musicality, and performance as part of a 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 January 2024 we organised and led a singing workshop for music and theatre students at South Downs College in Havant as part of their industry week. We taught students a song in four-part harmony and sang it with them to their college lecturer. We also demonstrated singing techniques and developed their skills to sing in harmony parts.
In June 2024 we organised and led a singing workshop with pupils at Bosmere Junior School teaching several year groups how to sing in harmony and developing their confidence and personal skills.
In April we held an open rehearsal night to encourage singers from the local area to come along and see for themselves what we do. Participants sang warm up songs and other voca exercises with us and we demonstrated the art of four-part harmony with all its benefits to well-being.
In May and July we held joint rehearsals with our local male barbershop chorus, Solent City Chorus to share learning and build performance confidence and technique.
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.
Our Chair is also the Vice-Chair of our national association (LABBS) and spent time during this period visiting and encouraging other barbershop singing groups in Hampshire, West Sussex, Wiltshire, Somerset and Norfolk. In her role she spends time 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 put on a Christmas show that was open to family, friends and the public that showcased four-part harmony singing. We also sang at St Lukes Church, Havant, Hotwalls in Portsmouth, Uppark (National Trust) and Port Solent Christmas Fayre to entertain and educate the wider community in the craft of four-part harmony singing.
In June 2024 in celebration of our 20[th] anniversary as a Chorus we undertook a six-hour singa-thon around the iconic sites of Portsmouth including the Guildhall steps, the historic dockyard, Gunwharf Quays, two central shopping centres and Portsmouth and Southsea station. This gave us the opportunity to bring music to new audiences.
JC 24 February 2025
## **Spinnaker Chorus**
**Charity No. 1177387**
## **Trustee's Report and Unaudited Accounts**
**30 June 2024**
**Spinnaker Chorus Trustees Annual Report**
The trustee presents their report with the unaudited financial statements of the charity for the year ended 30 June 2024.
## **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 27 February 2025
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 2024.
## **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 27 February 2025
Page 2
**Spinnaker Chorus Statement of Financial Activities for the year ended 30 June 2024**
|**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**
9
Transfers between funds
**Net expenditure 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**|
|---|---|---|---|---|
|||**2024**|**2024**|**2023**|
|||**£**|**£**|**£**|
||||||
|||22,479|22,479|19,014|
|||31,990|31,990|18,994|
|||7,163|7,163|6,445|
|||61,632|61,632|44,453|
||||||
|||-|-|4,845|
|||48,602|48,602|32,995|
|||17,273|17,273|18,322|
|||65,875|65,875|56,162|
|||-|-|-|
|||(4,243)|(4,243)|(11,709)|
|||-|-|-|
|||(4,243)|(4,243)|(11,709)|
||||||
|||(4,243)|(4,243)|(11,709)|
||||||
|||15,157|15,157|26,866|
|||10,914|10,914|15,157|
||||||
||||||
||||||
Page 3
**Spinnaker Chorus Balance Sheet**
**at 30 June 2024**
|**at 30 June 2024**|||
|---|---|---|
|**Charity No. 1177387**
**Current assets**
Debtors
11
Cash at bank and in hand
**Creditors:**Amount falling due within one year
12
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset or liability**
**Total net assets**
**The funds of the charity**
**Restricted funds**
13
**Unrestricted funds**
13
General funds
**Reserves**
13
**Total funds**|**2024**
**£**
1,086
10,925
12,011
(1,097)
10,914
10,914
10,914
10,914
10,914
10,914
10,914|**2023**
**£**
-
15,539|
|||15,539
(382)|
|||15,157
15,157|
|||15,157|
|||15,157|
|||15,157|
|||15,157|
|||15,157|
Approved by the trustees on 27 February 2025
And signed on their behalf by:
Nuala Hobden Trustee 27 February 2025
Page 4
**Spinnaker Chorus Notes to the Accounts**
## **for the year ended 30 June 2024**
- 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**
|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
4
**Income from charitable activities**
Conventions and events
Fundraising|**Unrestricted**
**£**
22,359
120
22,479
**Unrestricted**
**£**
28,727
3,263
31,990|**Unrestricted**
**funds**
**2023**
**£**
19,014
18,994
6,445
44,453
4,845
32,995
18,322
56,162
(11,709)
(11,709)
(11,709)
26,866
15,157
**Total**
**2024**
**£**
22,359
120
22,479
**Total**
**2024**
**£**
28,727
3,263
31,990|**Total funds**
**2023**
**£**
19,014
18,994
6,445|
||||44,453
4,845
32,995
18,322|
||||56,162|
||||(11,709)|
||||(11,709)|
||||(11,709)
26,866|
||||15,157|
||||**Total**
**2023**
**£**
18,894
120|
||||19,014|
||||**Total**
**2023**
**£**
17,130
1,864|
||||18,994|
Page 7
**Spinnaker Chorus Notes to the Accounts**
- 5 **Other income**
|HMRC gift aid tax recovery
Other income
6
**Expenditure on raising funds**
_Costs of generating voluntary_
_income_
Subscriptions
7
**Expenditure on charitable activities**
_Expenditure on charitable_
_activities_
Conventions and events
Fundraising
_Governance costs_
8
**Other expenditure**
Directors expenses
Wardrobe & other costs
Coaching
Donations
Premises costs
General administrative costs
Legal and professional costs
9
**Net expenditure before transfers**
This is stated after charging:
Independent Examiner's fee|**Unrestricted**
**£**
4,857
2,306
7,163|**Total**
**2024**
**£**
4,857
2,306
7,163|**Total**
**2023**
**£**
4,046
2,399|
|---|---|---|---|
||||6,445|
|||||
||**Unrestricted**
**£**
48,252
350
48,602
**Unrestricted**
**£**
4,565
4,327
427
-
4,266
3,244
444
17,273
**2024**
**£**
444|**Total**
**2024**
**£**
-
-
**Total**
**2024**
**£**
48,252
350
48,602
**Total**
**2024**
**£**
4,565
4,327
427
-
4,266
3,244
444
17,273|**Total**
**2023**
**£**
4,845|
||||4,845|
||||**Total**
**2023**
**£**
32,995
-|
||||32,995|
||||**Total**
**2023**
**£**
2,715
6,354
1,576
815
4,492
1,950
420|
||||18,322|
||||**2023**
**£**
420|
Page 8
**Spinnaker Chorus Notes to the Accounts**
## 10 **Staff costs**
No employee received emoluments in excess of £60,000.
## 11 **Debtors**
|Prepayments and accrued income
12 **Creditors:**
amounts falling due within one year
Deferred income
13 **Movement in funds**
**Restricted funds:**
**Unrestricted funds:**
**General funds**
**Total funds**
14 **Analysis of net assets between funds**
Net current assets
15 **Reconciliation of net debt**
Cash and cash equivalents
Net debt||**2024**
**£**
1,086
1,086
**2024**
**£**||**2023**
**£**
-|
|---|---|---|---|---|
|||||-|
|||||**2023**
**£**|
|||1,097||382|
||**At 1 July**
**2023**
15,157
15,157|1,097
**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
61,632
61,632
**At 1 July**
**2023**
**£**|**Resources**
**expended**
**£**
(65,875)
(65,875)
**Unrestricted**
**funds**
**£**
10,914
10,914
**Cash flows**
**£**|382|
|||||**At 30 June**
**2024**
**£**
10,914|
|||||10,914|
|||||**Total**
**£**
10,914|
|||||10,914|
|||||**At 30 June**
**2024**
**£**|
|||15,539|(4,614)|10,925|
|||15,539
15,539|(4,614)
(4,614)|10,925|
|||||10,925|
||||||
Page 9
**Spinnaker Chorus Statement of Cash flows for the year ended 30 June 2024**
|**Cash flows from operating activities**
**Net expenditure per Statement of Financial Activities**
**Adjustments for:**
Dividends, interest and rents from investments
Increase in trade and other receivables
Increase in trade and other payables
**Net cash used in 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 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**|**2024**
**£**
(4,243)
(7,163)
(1,086)
715
(11,777)
7,163
7,163
-
(4,614)
15,539
10,925|**2023**
**£**
(11,709)
(6,445)
-
-|
|---|---|---|
|||(18,154)
6,445|
|||6,445|
||||
|||-|
||||
|||(11,709)|
|||26,866|
|||15,157|
||||
|**Components of cash and cash equivalents**|||
|Cash and bank balances|10,925|15,539|
||||
||10,925|15,539|
Page 10
**Spinnaker Chorus Detailed Statement of Financial Activities**
## **for the year ended 30 June 2024**
|**Income and endowments from:**
Donations and legacies
Subscriptions
Donations
Charitable activities
Conventions and events
Fundraising
Other
HMRC gift aid tax recovery
Other income
**Total income and endowments**
**Expenditure on:**
Costs of generating donations and
legacies
Subscriptions
**Total of expenditure on raising**
**funds**
Charitable activities
Conventions and events
Fundraising
**Total of expenditure on charitable**
**activities**
Other expenditure
Directors expenses
Wardrobe & other costs
Coaching
Donations
Premises costs
Rent
General administrative costs,
including depreciation and
amortisation|**Unrestricted**
**funds**
**2024**
**£**
22,359
120
22,479
28,727
3,263
31,990
4,857
2,306
7,163
61,632
-
-
-
48,252
350
48,602
48,602
4,565
4,327
427
-
9,319
4,266
4,266|**Total funds**
**2024**
**£**
22,359
120
22,479
28,727
3,263
31,990
4,857
2,306
7,163
61,632
-
-
-
48,252
350
48,602
48,602
4,565
4,327
427
-
9,319
4,266
4,266|**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|
||||4,492|
|||||
Page 11
## **Spinnaker Chorus**
## **Detailed Statement of Financial Activities**
|Bank charges
Software, IT support and related
costs
Sundry expenses
Legal and professional costs
Audit/Independent examination
fees
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net expenditure**
**Net expenditure before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|12
356
2,876
3,244
444
444
17,273
65,875
-
(4,243)
(4,243)
-
(4,243)
15,157
10,914|12
356
2,876
3,244
444
444
17,273
65,875
-
(4,243)
(4,243)
-
(4,243)
15,157
10,914|-
626
1,324|
|---|---|---|---|
||||1,950|
||||420|
||||420|
|||||
||||18,322|
||||56,162
-|
||||(11,709)|
||||(11,709)
-|
||||(11,709)|
||||26,866|
||||15,157|
Page 12
## **Spinnaker Chorus**
**Charity No. 1177387**
## **Trustee's Report and Unaudited Accounts**
**30 June 2024**
**Spinnaker Chorus Trustees Annual Report**
The trustee presents their report with the unaudited financial statements of the charity for the year ended 30 June 2024.
## **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 27 February 2025
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 2024.
## **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 27 February 2025
Page 2
**Spinnaker Chorus Statement of Financial Activities for the year ended 30 June 2024**
|**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**
9
Transfers between funds
**Net expenditure 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**|
|---|---|---|---|---|
|||**2024**|**2024**|**2023**|
|||**£**|**£**|**£**|
||||||
|||22,479|22,479|19,014|
|||31,990|31,990|18,994|
|||7,163|7,163|6,445|
|||61,632|61,632|44,453|
||||||
|||-|-|4,845|
|||48,602|48,602|32,995|
|||17,273|17,273|18,322|
|||65,875|65,875|56,162|
|||-|-|-|
|||(4,243)|(4,243)|(11,709)|
|||-|-|-|
|||(4,243)|(4,243)|(11,709)|
||||||
|||(4,243)|(4,243)|(11,709)|
||||||
|||15,157|15,157|26,866|
|||10,914|10,914|15,157|
||||||
||||||
||||||
Page 3
**Spinnaker Chorus Balance Sheet**
**at 30 June 2024**
|**at 30 June 2024**|||
|---|---|---|
|**Charity No. 1177387**
**Current assets**
Debtors
11
Cash at bank and in hand
**Creditors:**Amount falling due within one year
12
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset or liability**
**Total net assets**
**The funds of the charity**
**Restricted funds**
13
**Unrestricted funds**
13
General funds
**Reserves**
13
**Total funds**|**2024**
**£**
1,086
10,925
12,011
(1,097)
10,914
10,914
10,914
10,914
10,914
10,914
10,914|**2023**
**£**
-
15,539|
|||15,539
(382)|
|||15,157
15,157|
|||15,157|
|||15,157|
|||15,157|
|||15,157|
|||15,157|
Approved by the trustees on 27 February 2025
And signed on their behalf by:
Nuala Hobden Trustee 27 February 2025
Page 4
**Spinnaker Chorus Notes to the Accounts**
## **for the year ended 30 June 2024**
- 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**
|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
4
**Income from charitable activities**
Conventions and events
Fundraising|**Unrestricted**
**£**
22,359
120
22,479
**Unrestricted**
**£**
28,727
3,263
31,990|**Unrestricted**
**funds**
**2023**
**£**
19,014
18,994
6,445
44,453
4,845
32,995
18,322
56,162
(11,709)
(11,709)
(11,709)
26,866
15,157
**Total**
**2024**
**£**
22,359
120
22,479
**Total**
**2024**
**£**
28,727
3,263
31,990|**Total funds**
**2023**
**£**
19,014
18,994
6,445|
||||44,453
4,845
32,995
18,322|
||||56,162|
||||(11,709)|
||||(11,709)|
||||(11,709)
26,866|
||||15,157|
||||**Total**
**2023**
**£**
18,894
120|
||||19,014|
||||**Total**
**2023**
**£**
17,130
1,864|
||||18,994|
Page 7
**Spinnaker Chorus Notes to the Accounts**
- 5 **Other income**
|HMRC gift aid tax recovery
Other income
6
**Expenditure on raising funds**
_Costs of generating voluntary_
_income_
Subscriptions
7
**Expenditure on charitable activities**
_Expenditure on charitable_
_activities_
Conventions and events
Fundraising
_Governance costs_
8
**Other expenditure**
Directors expenses
Wardrobe & other costs
Coaching
Donations
Premises costs
General administrative costs
Legal and professional costs
9
**Net expenditure before transfers**
This is stated after charging:
Independent Examiner's fee|**Unrestricted**
**£**
4,857
2,306
7,163|**Total**
**2024**
**£**
4,857
2,306
7,163|**Total**
**2023**
**£**
4,046
2,399|
|---|---|---|---|
||||6,445|
|||||
||**Unrestricted**
**£**
48,252
350
48,602
**Unrestricted**
**£**
4,565
4,327
427
-
4,266
3,244
444
17,273
**2024**
**£**
444|**Total**
**2024**
**£**
-
-
**Total**
**2024**
**£**
48,252
350
48,602
**Total**
**2024**
**£**
4,565
4,327
427
-
4,266
3,244
444
17,273|**Total**
**2023**
**£**
4,845|
||||4,845|
||||**Total**
**2023**
**£**
32,995
-|
||||32,995|
||||**Total**
**2023**
**£**
2,715
6,354
1,576
815
4,492
1,950
420|
||||18,322|
||||**2023**
**£**
420|
Page 8
**Spinnaker Chorus Notes to the Accounts**
## 10 **Staff costs**
No employee received emoluments in excess of £60,000.
## 11 **Debtors**
|Prepayments and accrued income
12 **Creditors:**
amounts falling due within one year
Deferred income
13 **Movement in funds**
**Restricted funds:**
**Unrestricted funds:**
**General funds**
**Total funds**
14 **Analysis of net assets between funds**
Net current assets
15 **Reconciliation of net debt**
Cash and cash equivalents
Net debt||**2024**
**£**
1,086
1,086
**2024**
**£**||**2023**
**£**
-|
|---|---|---|---|---|
|||||-|
|||||**2023**
**£**|
|||1,097||382|
||**At 1 July**
**2023**
15,157
15,157|1,097
**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
61,632
61,632
**At 1 July**
**2023**
**£**|**Resources**
**expended**
**£**
(65,875)
(65,875)
**Unrestricted**
**funds**
**£**
10,914
10,914
**Cash flows**
**£**|382|
|||||**At 30 June**
**2024**
**£**
10,914|
|||||10,914|
|||||**Total**
**£**
10,914|
|||||10,914|
|||||**At 30 June**
**2024**
**£**|
|||15,539|(4,614)|10,925|
|||15,539
15,539|(4,614)
(4,614)|10,925|
|||||10,925|
||||||
Page 9
**Spinnaker Chorus Statement of Cash flows for the year ended 30 June 2024**
|**Cash flows from operating activities**
**Net expenditure per Statement of Financial Activities**
**Adjustments for:**
Dividends, interest and rents from investments
Increase in trade and other receivables
Increase in trade and other payables
**Net cash used in 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 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**|**2024**
**£**
(4,243)
(7,163)
(1,086)
715
(11,777)
7,163
7,163
-
(4,614)
15,539
10,925|**2023**
**£**
(11,709)
(6,445)
-
-|
|---|---|---|
|||(18,154)
6,445|
|||6,445|
||||
|||-|
||||
|||(11,709)|
|||26,866|
|||15,157|
||||
|**Components of cash and cash equivalents**|||
|Cash and bank balances|10,925|15,539|
||||
||10,925|15,539|
Page 10
**Spinnaker Chorus Detailed Statement of Financial Activities**
## **for the year ended 30 June 2024**
|**Income and endowments from:**
Donations and legacies
Subscriptions
Donations
Charitable activities
Conventions and events
Fundraising
Other
HMRC gift aid tax recovery
Other income
**Total income and endowments**
**Expenditure on:**
Costs of generating donations and
legacies
Subscriptions
**Total of expenditure on raising**
**funds**
Charitable activities
Conventions and events
Fundraising
**Total of expenditure on charitable**
**activities**
Other expenditure
Directors expenses
Wardrobe & other costs
Coaching
Donations
Premises costs
Rent
General administrative costs,
including depreciation and
amortisation|**Unrestricted**
**funds**
**2024**
**£**
22,359
120
22,479
28,727
3,263
31,990
4,857
2,306
7,163
61,632
-
-
-
48,252
350
48,602
48,602
4,565
4,327
427
-
9,319
4,266
4,266|**Total funds**
**2024**
**£**
22,359
120
22,479
28,727
3,263
31,990
4,857
2,306
7,163
61,632
-
-
-
48,252
350
48,602
48,602
4,565
4,327
427
-
9,319
4,266
4,266|**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|
||||4,492|
|||||
Page 11
## **Spinnaker Chorus**
## **Detailed Statement of Financial Activities**
|Bank charges
Software, IT support and related
costs
Sundry expenses
Legal and professional costs
Audit/Independent examination
fees
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net expenditure**
**Net expenditure before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|12
356
2,876
3,244
444
444
17,273
65,875
-
(4,243)
(4,243)
-
(4,243)
15,157
10,914|12
356
2,876
3,244
444
444
17,273
65,875
-
(4,243)
(4,243)
-
(4,243)
15,157
10,914|-
626
1,324|
|---|---|---|---|
||||1,950|
||||420|
||||420|
|||||
||||18,322|
||||56,162
-|
||||(11,709)|
||||(11,709)
-|
||||(11,709)|
||||26,866|
||||15,157|
Page 12