2022-04-05-accounts - Sound World

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REGISTERED CHARITY NUMBER: 1178026

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 5 April 2022

for Sound World

Moore Chartered Accountants First Floor

29 St Augustine's Parade Bristol BS1 4UL

Sound World

Contents of the Financial Statements for the Year Ended 5 April 2022

	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 11

Sound World (Registered charity number: 1178026)

Report of the Trustees

for the Year Ended 5 April 2022

The trustees present their report with the financial statements of the charity for the year ended 5 April 2022. The financial statements have been prepared in accordance with the accounting policies set out on pages 7 and 8 and comply with the charity’s Constitution, the Charities Act 2011 and the requirements of the 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, including Update Bulletin 2.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The advancement of public appreciation and knowledge of classical music (including contemporary classical music). The promotion of musical education, knowledge, creativity and composing skills of, in particular but not exclusively, young people.

Significant activities

This year saw the release of Reflections an album of 12 new works by Sally Beamish, Gavin Bryars, Michael Ellison, Graham Fitkin, Dame Evelyn Glennie, Sadie Harrison, Julian Leeks, Nico Muhly, John Pickard, Geoff Poole, Howard Skempton and Mark-Anthony Turnage.

Live events were not possible for much of the year due to continuing Covid restrictions.

These were due to resume in January 2022 with a programme of educational events, concerts and commissions. This was fully planned and funded but, just weeks two weeks before the start date, two of our main partner schools pulled out, due to continuing concerns around external events in the wake of Covid.

As a result the entire programme had to be cancelled.

Public benefit

The trustees have had regard to the guidance issued by the Charity Commission on public benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

As noted above live events during this period were cancelled due to Covid.

But the release of Reflections marked a significant achievement. It was Sound World’s first release and the project as a whole gave financial support to freelance musicians during the Covid lockdowns by providing them with the only paid work that was possible under lockdown restrictions.

The album itself is not only a unique collection of original pieces by some excellent composers but also a remarkable document of musical life during Covid.

FINANCIAL REVIEW

Financial position

An ACE grant for events that were subsequently cancelled will be available for our 2023 programme, putting us in a good position looking ahead.

Reserves policy

The reserves policy agreed by the trustees is 10% of annual spending.

Sound World (Registered charity number: 1178026)

Report of the Trustees

for the Year Ended 5 April 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity was established by the Governing Documented dated 19 April 2018. The CIO has been approved by the Charity Commission and is registered as Number 1178026. The names of the present Trustees and their advisers are shown below. The power to remove and appoint new or additional Trustees is vested in the Trustees.

REFERENCE AND ADMINISTRATIVE DETAILS Nature of CIO

A registered charity, registered with the Charity Commission for England and Wales as number 1178026

Registered office

40 High Street Claverham Bristol BS49 4NE

Trustees

S Harrison J Stagg C Freda R Sangha

A Cooper-White (resigned 5.4.22)

Independent Examiner

Moore Chartered Accountants First Floor 29 St Augustine's Parade Bristol BS1 4UL

Sound World (Registered charity number: 1178026)

Report of the Trustees

for the Year Ended 5 April 2022

Statement of Trustees’ Responsibilities

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the Trustees to prepare financial statements for each financial period that give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to:

Select suitable accounting policies and apply them consistently;
Comply with applicable accounting standards, including FRS 102, subject to any material departures disclosed and explained in the financial statements;
State whether a Statement of Recommended Practice (SORP) applies and has been followed, subject to any material departures disclosed and explained in the financial statements;
Make judgements and estimates that are reasonable and prudent;
Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continues in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

03/02/2023 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................. John Stagg J Stagg - Trustee

Independent Examiner's Report to the Trustees of Sound World

Independent examiner's report to the trustees of Sound World ('the Charity’)

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 5 April 2022.

Responsibilities and basis of report

As the charity's trustees of the Charity 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 Charity’s accounts 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe in any material respect:

accounting records were not kept in respect of the Charity 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.

Robert Branch Moore Chartered Accountants First Floor 29 St Augustine's Parade Bristol BS1 4UL

Date: .............................................

Sound World

Statement of Financial Activities

for the Year Ended 5 April 2022

				5.4.22	5.4.21
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies		708	-	708	6,252
Other trading activities	2	-	-	-	831
Total		708	-	708	7,083
EXPENDITURE ON
Charitable activities
Fees		672	-	672	6,082
Other		-	-	-	538
Total		672	-	672	6,620
NET INCOME		36	-	36	463
RECONCILIATION OF FUNDS
Total funds brought forward		25	-	25	(438)
TOTAL FUNDS CARRIED FORWARD		61	-	61	25

Sound World (Registered charity number: 1178026)

Balance Sheet

5 April 2022

				5.4.22	5.4.21
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes	£	£	£	£
CURRENT ASSETS
Cash at bank		541	-	541	985
CREDITORS
Amounts falling due within one year	5	(480)	-	(480)	(960)
NET CURRENT ASSETS		61	-	61	25
TOTAL ASSETS LESS CURRENT LIABILITIES		61	-	61	25
NET ASSETS		61	-	61	25
FUNDS	6
Unrestricted funds				61	25
TOTAL FUNDS				61	25

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 03/02/2023

............................................. John Stagg J Stagg - Trustee

Sound World

Notes to the Financial Statements

for the Year Ended 5 April 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements are prepared on a going concern basis, under the historical cost convention.

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charity is a public benefit entity for the purposes of FRS 102 and therefore the Charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP), including Update Bulletin 2, and the Charities Act 2011.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest pound.

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.

Taxation

The charity is exempt from corporation 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.

Sound World

Notes to the Financial Statements - continued for the Year Ended 5 April 2022

1. ACCOUNTING POLICIES (Continued)

Going concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions, including COVID-19, that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have taken account of the pressures on donation income. After making appropriate enquiries the trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Sound World

Notes to the Financial Statements - continued for the Year Ended 5 April 2022

2. OTHER TRADING ACTIVITIES

OTHER TRADING ACTIVITIES
	5.4.22		5.4.21
	£		£
Fundraising events		-	831

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 5 April 2022 nor for the year ended 5 April 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

	Unrestricted	Restricted	Restricted	Total
	fund	fund		funds
	£	£		£
INCOME AND ENDOWMENTS FROM
Donations and legacies	6,252		-	6,252
Other trading activities	831		-	831
Total	7,083		-	7,083
EXPENDITURE ON
Charitable activities
Fees	6,082		-	6,082
Other	538		-	538
Total	6,620		-	6,620
NET INCOME	463		-	463
Transfers between funds	(98)	98		-
Net movement in funds	365	98		463
RECONCILIATION OF FUNDS
Total funds brought forward	(340)	(98)		(438)
TOTAL FUNDS CARRIED FORWARD	25		-	25

Sound World

Notes to the Financial Statements - continued for the Year Ended 5 April 2022

5.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			5.4.22	5.4.21
			£	£
	Trade creditors		-	480
	Accrued expenses		480	480
			480	960
6.	MOVEMENT IN FUNDS
			Net
			movement	At
	At	6.4.21	in funds	5.4.22
		£	£	£
	Unrestricted funds
	General fund	25	36	61
	TOTAL FUNDS	25	36	61
	Net movement in funds, included in the above are as follows:
	Incoming		Resources	Movement
	resources		expended	in funds
		£	£	£
	Unrestricted funds
	General fund	708	(672)	36
	TOTAL FUNDS	708	(672)	36

Comparatives for movement in funds
		Net	Transfers
		movement	between	At
	At 6.4.20	in funds	funds	5.4.21
	£	£	£	£
Unrestricted funds
General fund	(340)	463	(98)	25
Restricted funds
Restricted fund	(98)	-	98	-
TOTAL FUNDS	(438)	463	-	25

Sound World

Notes to the Financial Statements - continued for the Year Ended 5 April 2022

6. MOVEMENT IN FUNDS - continued

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

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	7,083	(6,620)	463
TOTAL FUNDS	7,083	(6,620)	463

7. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 5 April 2022.