Registered number: 10221348 Charity number: 1180822
LUDLOW SONG
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
LUDLOW SONG
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 - 7 |
| Notes to the Financial Statements | 8 - 13 |
LUDLOW SONG
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2022
| Trustees | Dr Clare Taylor |
|---|---|
| Dr Ewart Carson | |
| Mr Martin Bussey | |
| Prof Anthony Pinching | |
| Mr Paul Ives | |
| Prof Iain Burnside | |
| Dr David Melville | |
| Company registered number 10221348 Charity registered number 1180822 Registered office 2 College Street Ludlow Shropshire SY8 1AN Company secretary Mr Steve Catanach Chief executive officer Prof Anthony Pinching Accountants The Alanbrookes Group Ltd t/a J S Weeks & Co Devizes Wiltshire SN10 1HT |
Page 1
LUDLOW SONG
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2022
The Trustees present their annual report together with the financial statements of the Ludlow Song for the year 1 July 2021 to 30 June 2022. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
To advance, improve and maintain public education in and appreciation of the art of music and in particular the art of English language song, in particular but not exclusively by holding an annual festival of English song – Ludlow English Song Weekend.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
a. Main achievements of the Company
During this financial year, we held two Ludlow English Song Weekends (LESW), due to the postponement of the April 2021 LESW to October, as a consequence of the Covid-19 pandemic. Our regular April 2022 LESW proceeded as normal. Musically these were both great successes in all regards.
We were very pleased to have managed the impact of the pandemic in this way, achieving very good audiences, despite the impact of the Covid-19 on audiences generally. Financially, with good ticket sales as well as grant and donor income, our financial position is very satisfactory.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
We will maintain a core Reserve of up to £15,000, as protection against losses and turbulence in the arts sector, as well as enabling us to set up a Membership Scheme and to run linked events outside the Weekends.
Page 2
LUDLOW SONG (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
Structure, governance and management
a. Constitution
Ludlow Song is registered as a charitable company limited by guarantee and was set up by a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Members' liability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 16 November 2022 and signed on their behalf by:
Prof Anthony Pinching
Page 3
LUDLOW SONG
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2022
Independent Examiner's Report to the Trustees of Ludlow Song ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 30 June 2022.
Responsibilities and Basis of Report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Signed: Alanbrookes Group Dated: 17 November 2022
The Alanbrookes Group T/A JS Weeks ICAEW
10 Market Place Devizes Wiltshire SN10 1HT
Page 4
LUDLOW SONG
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Other income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 28,274 43,847 1,355 73,476 67,612 67,612 5,864 (895) 5,864 4,969 |
Total funds 2022 £ 28,274 43,847 1,355 73,476 67,612 67,612 5,864 (895) 5,864 4,969 |
Total funds 2021 £ 6,013 - 1,412 7,425 7,348 7,348 77 (972) 77 (895) |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 13 form part of these financial statements.
Page 5
LUDLOW SONG (A Company Limited by Guarantee) REGISTERED NUMBER: 10221348
BALANCE SHEET AS AT 30 JUNE 2022
| Note Fixed assets Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets / liabilites Total assets less current liabilities Net assets / liabilites excluding pension asset Total net assets Charity funds Restricted funds 12 Unrestricted funds 12 Total funds |
2,688 28,034 30,722 (25,753) |
2022 £ - 4,969 4,969 4,969 4,969 - 4,969 4,969 |
825 16,580 17,405 (18,300) |
2021 £ - (895) (895) (895) (895) - (895) (895) |
|---|---|---|---|---|
Page 6
LUDLOW SONG
(A Company Limited by Guarantee) REGISTERED NUMBER: 10221348
BALANCE SHEET (CONTINUED) AS AT 30 JUNE 2022
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 16 November 2022 and signed on their behalf by:
Prof Anthony Pinching
The notes on pages 8 to 13 form part of these financial statements.
Page 7
LUDLOW SONG
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
1. General information
Ludlow Song is registered as a charitable company limited by guarantee in England and Wales, company number 10221348, charity number 1180822.
The registered office is: 2 College Street Ludlow Shropshire SY8 1AN
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Ludlow Song meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Page 8
LUDLOW SONG
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
2. Accounting policies (continued)
2.3 Expenditure (continued)
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.7 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Page 9
LUDLOW SONG
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
3. Income from donations and legacies
| Donations Grants 4. Income from charitable activities Income from charitable activities - Direct costs |
Unrestricted funds 2022 £ 12,907 15,367 28,274 Unrestricted funds 2022 £ 43,847 |
Total funds 2022 £ 12,907 15,367 28,274 Total funds 2022 £ 43,847 |
Total funds 2021 £ 6,013 - 6,013 Total funds 2021 £ - |
|---|---|---|---|
5. Other incoming resources
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Other income | 1,355 | 1,355 | 1,412 |
Page 10
LUDLOW SONG
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
6. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Direct costs | 67,612 | 67,612 | 7,348 |
7. Analysis of expenditure by activities
| Support | Total | Total | |
|---|---|---|---|
| costs | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Direct costs | 67,612 | 67,612 | 7,348 |
8. Independent examiner's remuneration
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Company's independent examiner for the independent | ||
| examination of the Company's annual accounts | 1,386 | 900 |
9. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 30 June 2022, no Trustee expenses have been incurred (2021 - £NIL) .
Page 11
LUDLOW SONG
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
10. Debtors
| Due within one year Prepayments and accrued income 11. Creditors: Amounts falling due within one year |
2022 £ 2,688 2,688 |
2021 £ 825 |
|---|---|---|
| 825 | ||
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 25,753 | 18,300 |
12. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Legacies Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 July 2021 £ (895) - (895) Balance at 1 July 2020 £ (972) |
Income £ 58,420 15,056 73,476 Income £ 7,428 |
Expenditure £ (67,612) - (67,612) Expenditure £ (7,351) |
Balance at 30 June 2022 £ (10,087) 15,056 |
|---|---|---|---|---|
| 4,969 | ||||
| Balance at 30 June 2021 £ (895) |
Page 12
LUDLOW SONG
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
13. Summary of funds
Summary of funds - current year
| Balance at 1 July 2021 £ General funds (895) Summary of funds - prior year Balance at 1 July 2020 £ General funds (972) 14. Analysis of net assets between funds Analysis of net assets between funds - current year Current assets Creditors due within one year Total Analysis of net assets between funds - prior year Current assets Creditors due within one year Total |
Income £ 73,476 Income £ 7,428 |
Expenditure £ (67,612) Expenditure £ (7,351) Unrestricted funds 2022 £ 30,722 (25,753) 4,969 Unrestricted funds 2021 £ 17,405 (18,300) (895) |
Balance at 30 June 2022 £ 4,969 Balance at 30 June 2021 £ (895) Total funds 2022 £ 30,722 (25,753) 4,969 Total funds 2021 £ 17,405 (18,300) (895) |
|---|---|---|---|
Page 13
LUDLOW SONG
(A Company Limited by Guarantee)
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2022
| Income Ticket income Donations received Grants receivable Other income Gross income in the reporting period Less: Direct costs Accommodation Artists Commissions Food Piano and other hire Venue hire Travel and subsistence expenses Administrative expenses Insurance Printing, postage and stationery Administration Advertising and marketing costs Accountancy fees Subscriptions Sundry expenses Other interest receivable and similar income HMRC interest receivable Total expenditure |
2022 £ 43,847 12,907 15,337 1,385 4,698 33,836 1,100 699 2,146 6,932 4,322 356 160 7,000 4,341 1,386 442 194 - |
2022 £ 73,476 - 73,476 53,733 13,879 - 67,612 |
2021 £ - 6,014 - 1,412 619 - - - - - - 352 - 4,500 146 1,140 581 13 (3) |
2021 £ 7,426 - 7,426 619 6,732 (3) 7,348 |
|---|---|---|---|---|
Page 14
LUDLOW SONG
(A Company Limited by Guarantee)
INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022
| Net income before taxation for the reporting period Tax payable Net income for the reporting period Surplus for the reporting period Deficit brought forward at 1 July 2021 Surplus/(Deficit) carried forward at 30 June 2022 |
2022 £ |
2022 £ 5,864 - 5,864 5,864 (894) 4,970 |
2021 £ |
2021 £ 78 - 78 78 (972) (894) |
|---|---|---|---|---|
The notes on pages 8 to 13 form part of these financial statements.
Page 15
Issuer
The Alanbrookes Group/JS Weeks & Co
Document generated Fri, 2nd Dec 2022 10:03:49 GMT
Document fingerprint c9c4ccc670305701637799dab6a07fb7
Parties involved with this document
Document processed
Party + Fingerprint
Tue, 6th Dec 2022 10:22:02 GMT Tue, 6th Dec 2022 11:37:27 GMT Tue, 6th Dec 2022 11:37:27 GMT
Prof Anthony John Pinching - Signer (3b3de35f62410a14b824192a743433aa) Emma Manning - Signer (7494cdb434661e1ded0b8ccbd8f792ed) Lauren Hockley - Copied In (c42eb76bfd3eb5b46d3898266bca73e7)
Audit history log
Date
Action
Tue, 6th Dec 2022 11:37:30 GMT Tue, 6th Dec 2022 11:37:29 GMT Tue, 6th Dec 2022 11:37:27 GMT Tue, 6th Dec 2022 11:37:27 GMT
Tue, 6th Dec 2022 11:37:27 GMT Tue, 6th Dec 2022 11:37:11 GMT Tue, 6th Dec 2022 10:22:59 GMT Tue, 6th Dec 2022 10:22:04 GMT Tue, 6th Dec 2022 10:22:03 GMT Tue, 6th Dec 2022 10:22:02 GMT Tue, 6th Dec 2022 10:22:02 GMT Tue, 6th Dec 2022 10:20:05 GMT Sat, 3rd Dec 2022 8:37:15 GMT Fri, 2nd Dec 2022 10:03:58 GMT Fri, 2nd Dec 2022 10:03:51 GMT
Fri, 2nd Dec 2022 10:03:51 GMT
Emma Manning viewed the envelope. (88.212.170.10) Document emailed to party email (18.134.132.121) The envelope has been signed by all parties. (88.212.170.10) Sent a copy of the envelope to Lauren Hockley (lauren@jsweeks.co.uk). (88.212.170.10)
Emma Manning signed the envelope. (88.212.170.10) Emma Manning viewed the envelope. (88.212.170.10) Prof Anthony John Pinching viewed the envelope. (81.107.130.162) Prof Anthony John Pinching viewed the envelope. (81.107.130.162) Document emailed to party email (13.41.187.130) Sent the envelope to Emma Manning for signing. (81.107.130.162) Prof Anthony John Pinching signed the envelope. (81.107.130.162) Prof Anthony John Pinching viewed the envelope. (81.107.130.162) Prof Anthony John Pinching viewed the envelope. (81.107.130.162) Document emailed to party email (13.40.223.211) Sent the envelope to Prof Anthony John Pinching for signing. (18.168.153.227)
Envelope has been set to automatically remind the active signer every 7 day(s). (18.168.153.227)
Fri, 2nd Dec 2022 10:03:51 GMT Lauren Hockley has been assigned to this envelope. (18.168.153.227) Fri, 2nd Dec 2022 10:03:51 GMT Emma Manning has been assigned to this envelope. (18.168.153.227) Fri, 2nd Dec 2022 10:03:51 GMT Prof Anthony John Pinching has been assigned to this envelope. (18.168.153.227) Fri, 2nd Dec 2022 10:03:51 GMT Envelope generated. (18.168.153.227) Fri, 2nd Dec 2022 10:03:51 GMT Document generated with fingerprint c9c4ccc670305701637799dab6a07fb7. (18.168.153.227) Fri, 2nd Dec 2022 10:03:49 GMT Envelope generated with fingerprint 9a0b04ac3ff4940b892a87f67837e5c4 (35.176.231.177)