2023-12-31-accounts - Romford Drum And Trumpet Corps (R.d.t.c)

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REGISTERED CHARITY NUMBER: 1177736

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

Romford Drum and Trumpet Corps (RDTC)

Butlers Chartered Accountants 1434 London Road Leigh on Sea Essex SS9 2UL

Romford Drum and Trumpet Corps (RDTC)

Contents of the Financial Statements for the Year Ended 31 December 2023

		Page
Report of the Trustees	1	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet		6
Notes to the Financial Statements	7	to	13
Detailed Statement of Financial Activities	14	to	15

Romford Drum and Trumpet Corps (RDTC)

Report of the Trustees for the Year Ended 31 December 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The object of the charity is to advance the education of the public in the appreciation of marching band music and in particular to advance the education and training of young people in the playing of marching band instruments by establishing and maintaining a marching youth band.

Significant activities

The charity's main activities are:

1 - RDTC - Youth Marching Band.

The band is open to any boy or girl who wishes to join. Uniform, instruments and tuition are provided free of charge with no subscriptions being payable. The corps performs at events all over the world in order to promote opportunities and development of the members and leaders.

2 - Taunton Hall.

Taunton hall was obtained by the charity in 2011 and funding was raised for the refurbishment. The hall is maintained as the headquarters and delivery base of the charity. Spare capacity at the hall is rented out to other local charities and community members of which the rental monies received helps to cover the running costs.

Public benefit

The trustees have considered the requirements to ensure the charity provides a benefit to the public. The Board have concluded that the work they provide to the youth of the local area demonstrates the benefit to the public.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the year the charity worked with over 50 young people within the marching band, providing musical tuition and instruction as well as performance opportunities.

Youngsters experienced various opportunities throughout the year including travelling within the UK and abroad for performance opportunities.

Fundraising activities

Various fundraising activities were conducted in the year to raise additional funds for use in charitable activities.

Fundraising activities were managed and operated by the main committee during the year and at no time was a professional fundraiser engaged.

FINANCIAL REVIEW

Principal funding sources

The charity receives the majority of its funds from donations towards the band performing as well as from venue hire from lettings of Taunton Hall.

Venue hire continued at a stable level in the year and was used to maintain the operation of the building.

The trustees were pleased that the band activities managed to realise a small surplus in the year, however continued to make a net deficit on the operation of the Taunton Hall after amortisation costs.

Page 1

Romford Drum and Trumpet Corps (RDTC)

Report of the Trustees for the Year Ended 31 December 2023

FINANCIAL REVIEW

Reserves policy

The Romford Drum & Trumpet Corps (hereafter called RDTC) has 3 sources of income which are (1) income fees from performances (2) local fundraising activities (3) ad hoc donations. None of these source are guaranteed, it is crucial therefore to ensure there are sufficient reserve funds to allow RDTC to continue to operate for a period of not less than 12 months whilst fundraising takes place to operate normally or to wind up the organisation allowing time for the organisation to meet its obligations to staff and service users if existing sources of income were to cease.

RDTC is currently dependent on local fundraising and ad hoc donations to sustain its activities as earned income alone would not allow RDTC to continue operating. This means that if there was no local fundraising or ad hoc donations it is likely that RDTC would have to cease operating.

To avoid closure if funding difficulties were to happen, the trustees of RDTC have agreed to keep a level of financial reserves to operate for at least 12 months.

RDTC has sufficient reserves to continue operating for at least 12 months should all income cease and/or the surrender of the lease with LBH differ to current financial and time expectations.

Current funding has been secured until the end of 2024 but if difficulties were to arise, or should all income cease and/or the surrender of the lease with LBH differ to current financial and time expectations it has been estimated that £80,600 would be needed to continue to function for the following 12 months.

Going forward policy reviewed and approved by the Trustees on an annual basis.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

New trustees are sourced from trusted persons connected to the activities of the charity. The trustees are voted in at a meeting of the members.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1177736

Principal address

7 Spey Way Romford Essex RM1 4YP

Trustees

J Jones Ms N Barrand Mrs K Milsom M Cook J Marshall Trustee

Independent Examiner

Butlers Chartered Accountants 1434 London Road Leigh on Sea Essex SS9 2UL

Page 2

Romford Drum and Trumpet Corps (RDTC)

Report of the Trustees for the Year Ended 31 December 2023

Approved by order of the board of trustees on 25 October 2024 and signed on its behalf by:

Ms N Barrand - Trustee

Page 3

Independent Examiner's Report to the Trustees of Romford Drum and Trumpet Corps (RDTC)

Independent examiner's report to the trustees of Romford Drum and Trumpet Corps (RDTC)

I report to the charity trustees on my examination of the accounts of Romford Drum and Trumpet Corps (RDTC) (the Trust) for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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 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:

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.

H Meagher

Butlers Chartered Accountants 1434 London Road Leigh on Sea Essex SS9 2UL

25 October 2024

Page 4

Romford Drum and Trumpet Corps (RDTC)

Statement of Financial Activities for the Year Ended 31 December 2023

Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 12,980 Charitable activities 5 Taunton Hall 33,253 Marching Band - Other trading activities 3 9,392 Investment income 4 1,223 Total 56,848 EXPENDITURE ON Raising funds 6 5,845 Charitable activities 7 Taunton Hall 29,793 Marching Band 26,666 Total 62,304 NET INCOME/(EXPENDITURE) (5,456) RECONCILIATION OF FUNDS Total funds brought forward 320,483 TOTAL FUNDS CARRIED FORWARD 315,027	Restricted funds £ - - - - - - - - - - - - -	31.12.23 31.12.22 Total Total funds funds £ £ 12,980 19,250 33,253 41,560 - 264 9,392 8,080 1,223 196 56,848 69,350 5,845 7,040 29,793 50,952 26,666 24,391 62,304 82,383 (5,456) (13,033) 320,483 333,516 315,027 320,483

The notes form part of these financial statements

Page 5

Romford Drum and Trumpet Corps (RDTC)

Balance Sheet 31 December 2023

Unrestricted funds Notes £ FIXED ASSETS Tangible assets 11 204,248 CURRENT ASSETS Stocks 12 255 Debtors 13 2,776 Cash at bank and in hand 107,840 110,871 CREDITORS Amounts falling due within one year 14 (92) NET CURRENT ASSETS 110,779 TOTAL ASSETS LESS CURRENT LIABILITIES 315,027 NET ASSETS 315,027 FUNDS 16 Unrestricted funds: General fund Designated - Hall maintenance & groundworks fund Designated - Instrument and uniform maintenance fund Designated - Building depreciation fund Designated - Coronavirus fund TOTAL FUNDS	Restricted funds £ - - - - - - - - -	31.12.23 Total funds £ 204,248 255 2,776 107,840 110,871 (92) 110,779 315,027 315,027 226,070 10,000 10,000 58,957 10,000 315,027 315,027	31.12.22 Total funds £ 210,584 250 5,616 105,564 111,430 (1,531) 109,899 320,483 320,483 231,526 10,000 10,000 58,957 10,000 320,483 320,483

The financial statements were approved by the Board of Trustees and authorised for issue on 25 October 2024 and were signed on its behalf by:

N Barrand - Trustee

M Cook - Trustee

The notes form part of these financial statements

Page 6

Romford Drum and Trumpet Corps (RDTC)

Notes to the Financial Statements for the Year Ended 31 December 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - in accordance with the property Fixtures and fittings - 10% on reducing balance

Instruments and other equipment have been valued at net realisable value and will be revalued each year. This is a departure from recognised accounting principles, but we consider it to show a true and fair view of the value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

continued...

Page 7

Romford Drum and Trumpet Corps (RDTC)

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

2.	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES
			31.12.23	31.12.22
			£	£
	Donations		12,980	15,250
	Grants		-	4,000
			12,980	19,250
	Grants received, included in the	above, are as follows:
			31.12.23	31.12.22
			£	£
	London Borough of Havering		-	4,000
3.	OTHER TRADING ACTIVITIES
			31.12.23	31.12.22
			£	£
	Fundraising activities		9,392	6,012
	Sale of assets		-	2,068
			9,392	8,080
4.	INVESTMENT INCOME
			31.12.23	31.12.22
			£	£
	Deposit account interest		1,223	196
5.	INCOME FROM CHARITABLE ACTIVITIES
			31.12.23	31.12.22
		Activity	£	£
	Venue hire	Taunton Hall	33,253	41,560
	Clothing Income	Marching Band	-	264
			33,253	41,824

continued...

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Romford Drum and Trumpet Corps (RDTC)

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

6. RAISING FUNDS

Raising donations and legacies

Fundraising expenses Other trading activities Opening stock Closing stock Aggregate amounts CHARITABLE ACTIVITIES COSTS Taunton Hall Marching Band SUPPORT COSTS Taunton Hall Marching Band	31.12.23 31.12.22 £ £ 5,850 7,040 31.12.23 31.12.22 £ £ 250 250 (255) (250) (5) - 5,845 7,040 Support Direct costs (see Costs note 8) Totals £ £ £ 29,093 700 29,793 26,156 510 26,666 55,249 1,210 56,459 Governance costs £ 700 510 1,210

7. CHARITABLE ACTIVITIES COSTS

8. SUPPORT COSTS

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

continued...

Page 9

Romford Drum and Trumpet Corps (RDTC)

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 19,250 Charitable activities Taunton Hall 41,560 Marching Band 264 Other trading activities 8,080 Investment income 196 Total 69,350 EXPENDITURE ON Raising funds 7,040 Charitable activities Taunton Hall 50,952 Marching Band 24,391 Total 82,383 NET INCOME/(EXPENDITURE) (13,033) RECONCILIATION OF FUNDS Total funds brought forward 333,516 TOTAL FUNDS CARRIED FORWARD 320,483 11. TANGIBLE FIXED ASSETS Improvements to Plant and property machinery £ £ COST At 1 January 2023 and 31 December 2023 135,732 147,451 DEPRECIATION At 1 January 2023 76,775 220 Charge for year 5,896 - At 31 December 2023 82,671 220 NET BOOK VALUE At 31 December 2023 53,061 147,231 At 31 December 2022 58,957 147,231		Restricted funds £ - - - - - - - - - - - - - Fixtures and fittings £ 15,822 11,427 439 11,866 3,956 4,395	Total funds £ 19,250 41,560 264 8,080 196 69,350 7,040 50,952 24,391 82,383 (13,033) 333,516 320,483 Totals £ 299,005 88,422 6,335 94,757 204,248 210,583

continued...

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Romford Drum and Trumpet Corps (RDTC)

	Notes to the Financial Statements - continued	Notes to the Financial Statements - continued
	for the Year Ended 31 December 2023
12.	STOCKS
			31.12.23	31.12.22
			£	£
	Stocks		255	250
13.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.12.23	31.12.22
			£	£
	Prepayments and accrued income		2,776	5,616
14.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.12.23	31.12.22
			£	£
	Other creditors		92	1,531
15.	LEASING AGREEMENTS
	Minimum lease payments under non-cancellable operating leases fall	due as follows:
			31.12.23	31.12.22
			£	£
	In more than five years		-	16,328
	The above operating lease is the lease held by the charity over Taunton Hall, which is		held until March	2030.
16.	MOVEMENT IN FUNDS
			Net
			movement	At
		At 1.1.23	in funds	31.12.23
		£	£	£
	Unrestricted funds
	General fund	231,526	(5,456)	226,070
	Designated - Hall maintenance &
	groundworks fund	10,000	-	10,000
	Designated - Instrument and uniform
	maintenance fund	10,000	-	10,000
	Designated - Building depreciation fund	58,957	-	58,957
	Designated - Coronavirus fund	10,000	-	10,000
		320,483	(5,456)	315,027
	TOTAL FUNDS	320,483	(5,456)	315,027
	Net movement in funds, included in the above are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£	£
	Unrestricted funds
	General fund	56,848	(62,304)	(5,456)
	TOTAL FUNDS	56,848	(62,304)	(5,456)

continued...

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Romford Drum and Trumpet Corps (RDTC)

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds General fund Designated - Hall maintenance & groundworks fund Designated - Instrument and uniform maintenance fund Designated - Building depreciation fund Designated - Coronavirus fund TOTAL FUNDS	At 1.1.22 £ 238,008 10,000 10,000 65,508 10,000 333,516 333,516	Net movement in funds £ (6,482) - - (6,551) - (13,033) (13,033)	At 31.12.22 £ 231,526 10,000 10,000 58,957 10,000
			320,483
			320,483

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	69,350	(75,832)	(6,482)
Designated - Building depreciation fund	-	(6,551)	(6,551)
	69,350	(82,383)	(13,033)
TOTAL FUNDS	69,350	(82,383)	(13,033)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Designated - Hall maintenance & groundworks fund Designated - Instrument and uniform maintenance fund Designated - Building depreciation fund Designated - Coronavirus fund TOTAL FUNDS	At 1.1.22 £ 238,008 10,000 10,000 65,508 10,000 333,516 333,516	Net movement in funds £ (11,938) - - (6,551) - (18,489) (18,489)	At 31.12.23 £ 226,070 10,000 10,000 58,957 10,000
			315,027
			315,027

continued...

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Romford Drum and Trumpet Corps (RDTC)

Notes to the Financial Statements - continued for the Year Ended 31 December 2023

16. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	126,198	(138,136)	(11,938)
Designated - Building depreciation fund	-	(6,551)	(6,551)
	126,198	(144,687)	(18,489)
TOTAL FUNDS	126,198	(144,687)	(18,489)

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

18. CORONAVIRUS - IMPACT UPON THE CHARITY

During the months following the balance sheet date and before the signing of these reports the charity has suffered a drop in rental income due to the restrictions associated with Coronavirus.

The charity have ringfenced £10,000 as a designated fund to cover the expenses of operation whilst the charity was closed.

Whilst the loss of income is unexpected and restrictions of operation have been imposed the trustees consider the financial risk to the charity to be manageable in light of the reserves held.

Page 13

Romford Drum and Trumpet Corps (RDTC)

	Detailed Statement of Financial Activities
	for the Year Ended 31 December 2023
		31.12.23	31.12.22
		£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations		12,980	15,250
Grants		-	4,000
		12,980	19,250
Other trading activities
Fundraising activities		9,392	6,012
Sale of assets		-	2,068
		9,392	8,080
Investment income
Deposit account interest		1,223	196
Charitable activities
Clothing Income		-	264
Venue hire		33,253	41,560
		33,253	41,824
Total incoming resources		56,848	69,350
EXPENDITURE
Raising donations and legacies
Fundraising expenses		5,850	7,040
Other trading activities
Opening stock		250	250
Closing stock		(255)	(250)
		(5)	-
Charitable activities
Rent		16,369	21,761
Venue hire		300	200
Rates and water		1,612	1,022
Insurance		2,098	2,093
Light and heat		595	6,837
Telephone & Internet		1,094	1,098
Sundries		73	40
Refreshments and hospitality		2,603	2,316
Instrument repairs		4,650	1,358
Music and consumables		1,207	841
Printing, Postage, Stationery		1,010	908
Repairs and renewals		2,273	12,656
Carried forward		33,884	51,130

This page does not form part of the statutory financial statements

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Romford Drum and Trumpet Corps (RDTC)

	Detailed Statement of Financial Activities
	for the Year Ended 31 December 2023
		31.12.23	31.12.22
		£	£
Charitable activities
Brought forward		33,884	51,130
Uniforms and clothing		2,918	3,804
Coach and Travel		4,697	5,590
Teacher Expenses		7,346	6,076
Licences		68	235
Improvements to property		5,896	6,551
Fixtures and fittings		440	547
		55,249	73,933
Support costs
Governance costs
Legal expenses		700	900
Accountancy and legal fees		510	510
		1,210	1,410
Total resources expended		62,304	82,383
Net expenditure		(5,456)	(13,033)

This page does not form part of the statutory financial statements

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