**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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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...
Page 8
**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...
Page 10
**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...
Page 11
**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...
Page 12
## **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
Page 14
## **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
Page 15