**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 2024**
## **LUDLOW SONG**
## **(A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Company, its Trustees and Advisers**|3|
|**Trustees' Report**|4 - 5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8 - 9|
|**Notes to the Financial Statements**|10 - 15|
## **LUDLOW SONG (A Company Limited by Guarantee)**
**REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024**
|**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**|Ms Toria Banks|
|**Chief Executive Officer**|Prof Anthony Pinching|
|**Accountants**|The Alanbrookes Group Ltd|
||24 The Glove Factory|
||Holt|
||Wiltshire BA14 6RL|
Page 3
## **LUDLOW SONG (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2024**
The Trustees present their annual report together with the financial statements of the Ludlow Song for the year 1 July 2023 to 30 June 2024. 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**
This year saw the annual Ludlow English Song Weekend in April 2024 and this was well supported. Our financial position remains satisfactory, with sufficient funds designated to support next year's events.
## **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**
All of our reserves are considered to be free reserves, and we consider our "Core reserve" to be in the order £15,000. This sum allows a level of protection against any turbulence or changes in funding support of the arts sector and equally continue to run other events and provide member support.
Page 4
**LUDLOW SONG (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024**
## **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 and signed on their behalf by:
**Prof Anthony Pinching**
Page 5
## **LUDLOW SONG (A Company Limited by Guarantee) REGISTERED NUMBER: 10221348**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2024**
## **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 2024.
## **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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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: Dated: Andrew Fisher BA FCA ICAEW **The Alanbrookes Group Ltd** 24 The Glove Factory Holt Wiltshire BA14 6RL
6
## **LUDLOW SONG (A Company Limited by Guarantee) REGISTERED NUMBER: 10221348**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **(INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2024**
|Note
**Income from:**
Donations and grants
3
Charitable activities
4
Other income
5
**Total income**
**Expenditure on:**
Raising funds
6
Charitable activities
7
**Total expenditure**
**Net incoming/ (outgoing) resources**
**Net movement in funds**
**Total fund brought forward**
**Total funds carried forward**|**Unrestricted**
**Funds**
**2024**
**£**
**12,551**
**28,978**
**793**
**42,322**
**1,069**
**40,462**
**41,531**
**791**
**791**
**29,590**
**30,381**|**Total Funds**
**2024**
**£**
**12,551**
**28,978**
**793**
**42,322**
**1,069**
**40,462**
**41,531**
**791**
**791**
**29,590**
**30,381**|Total Funds
2023
£
38,179
29,254
-|
|---|---|---|---|
||||67,433|
||||3,739
39,073|
||||42,812|
||||24,621|
||||24,621
4,969|
||||29,590|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 15 form part of these financial statements.
7
## **LUDLOW SONG (A Company Limited by Guarantee) REGISTERED NUMBER: 10221348**
## **BALANCE SHEET AS AT 30 JUNE 2024**
|Note
**Current assets:**
Debtors
10
Cash at bank and in hand
**Creditors: amounts falling due within one year**
11
**Total net assets**
**Charity Funds**
Restricted funds
Unrestricted funds
**Total funds**
12|**2024**
**£**
**-**
**31,941**
**31,941**
**(1,560)**
**30,381**
**-**
**30,381**
**30,381**|2023
£
1,811
29,279|
|---|---|---|
|||31,090
(1,500)|
|||29,590|
|||-
29,590|
|||29,590|
8
## **LUDLOW SONG (A Company Limited by Guarantee) REGISTERED NUMBER: 10221348**
**BALANCE SHEET (CONTINUED)**
**AS AT 30 JUNE 2024**
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 and signed on their behalf by:
## **Dr Clare Taylor**
The notes on pages 10 to 15 form part of these financial statements.
9
## **LUDLOW SONG (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024**
## **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 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.
Every year, the Trustees assess the level of donations and designate a proportion of these to be earmarked for the next year's events and to protect its continuance as funds permit. These amounts remain part of General funds and have no restrictions.
Page 10
## **LUDLOW SONG (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024**
## **2. Accounting policies (continued)**
## **2.3 Expenditure**
Expenditure is recognised on a paid basis and the amount 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.
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**
Other debtors are recognised at the settlement amount
## **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 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. These funds comprise designated funds whereby the Trustees earmark certain donations received for future festivals, whilst managing cash available and core reserves in line with the Reserves policy.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 11
## **LUDLOW SONG (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024**
|**3.**
**Income from donations and grants**
Donations
Grants
**4.**
**Income from Charitable activities**
Tickets sales
**5.**
**Other incoming resources**
Bank interest
Other income
**6.**
**Expenditure on raising funds**
Subscriptions|**Unrestricted**
**Funds**
**2024**
**£**
**9,701**
**2,850**
**12,551**
**Unrestricted**
**Funds**
**2024**
**£**
**28,978**
**Unrestricted**
**Funds**
**2024**
**£**
**459**
**334**
**793**
**Unrestricted**
**Funds**
**2024**
**£**
**427**
**1,069**|**Total**
**Funds**
**2024**
**£**
**9,701**
**2,850**
**12,551**
**Total**
**Funds**
**2024**
**£**
**28,978**
**Total**
**Funds**
**2024**
**£**
**459**
**334**
**793**
**Total**
**Funds**
**2024**
**£**
**427**
**1,069**|Total
Funds
2023
£
35,068
3,111|
|---|---|---|---|
||||38,179|
||||Total
Funds
2023
£
29,254|
||||Total
Funds
2023
£
-
-|
||||-|
||||Total
Funds
2023
£
398|
||||3,739|
Page 12
## **LUDLOW SONG (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024**
|**7.**
**Analysis of expenditure on charitable activities**
**Charitable activities:**
Accommodation
Artists
Commission
Food
Piano and other hire
Venue hire
Travel and subsistence
Programme costs
**Governance costs:**
Insurance
Printing, postage and stationery
Administration
Accountancy
Independent examiners fee
Sundry expenses
**8.**
**Net incoming resources**
**Stated after charging**
**Independent examiner’s fee**
**9.**
**Trustees’ remuneration and expenses**
**Remuneration and benefits**
**Expenses**
**Indemnity insurance**|**Unrestricted**
**Funds**
**2024**
**£**
**3,373**
**17,900**
**869**
**1,150**
**170**
**4,989**
**1,960**
**2,179**
**423**
**-**
**5,856**
**750**
**810**
**33**
**40,462**
**Unrestricted**
**Funds**
**2024**
**£**
**810**
**Unrestricted**
**Funds**
**2024**
**£**
**-**
**-**
**128**|**Total**
**Funds**
**2024**
**£**
**3,373**
**17,900**
**869**
**1,150**
**170**
**4,989**
**1,960**
**2,179**
**423**
**-**
**5,856**
**750**
**810**
**33**
**40,462**
**Total**
**Funds**
**2024**
**£**
**810**
**Total**
**Funds**
**2024**
**£**
**-**
**-**
**128**|Total
Funds
2023
£
3,442
18,400
-
123
312
4,527
2,399
-
357
8,000
750
750
13|
|---|---|---|---|
||||39,073|
||||Total
Funds
2023
£
750|
||||Total
Funds
2023
£
-
-
-|
Page 13
## **LUDLOW SONG**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024**
|**10.**
**Debtors**
**Prepayments and accrued income**
**11.**
**Creditors: Amounts falling due within one**
**year**
Accruals
**12.**
**Statement of funds**
**Current Year**
**Balance**
**at 1 July**
**2023**
**Income**
**Unrestricted funds -**
**£**
**£**
**Designated funds**
25,056
-
**General funds**
4,534
42,322
**Total unrestricted**
**funds**
29,590
42,322
Prior Year
Balance
at 1 July
2022
Income
Unrestricted funds -
£
£
Designated funds
-
-
General funds
4,969
67,433
Total unrestricted
funds
4,969
67,433|**Expenditure**
**£**
-
(41,531)
(41,531)
Expenditure
£
-
(42,812)
(42,812)|**2024**
**£**
**2024**
**£**
**1,560**
**Transfers**
**between**
**funds**
**£**
(150)
150
-
Transfers
between
funds
£
25,056
(25,056)
-|**2024**
**£**|2023
£
**-**
1,811
2023
£
1,500
**Balance at**
**30 June**
**2024**
**£**
24,906
5,475
30,381
Balance at
30 June
2023
£
25,056
4,534
29,590|2023
£
1,811|
|---|---|---|---|---|---|
||||**2024**
**£**
**1,560**||2023
£
1,500|
Designated funds comprise a grant of £2,850 from The Finzi Trust for the 2025 Young Composers Event and £22,056 other general donations and bequests designated for future events.
Page 14
## **LUDLOW SONG (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024**
|**13.**
**Analysis of net assets between funds**
**Unrestricted funds -**
**Currents assets**
**Current liabilities**|**2024**
**£**
**31,941**
**(1,560)**
**30,381**|2023
£
31,090
(1,500)|
|---|---|---|
|||29,590|
## **14. Related Party Transactions**
Iain Burnside is a trustee of Gerald Finzi Trust and Ludlow Song.
The Finzi Trust made a grant to the charity in the year of £2,850 for Young Composers’ Events. Martin Bussey and Paul Ives are trustees of Finzi Friends and Ludlow Song.
Frinzi Friends made a donation to the charity in the year of £1,000 to support a memorial concert.
All transactions were fully at arms length.
Page 15
**LUDLOW SONG (A Company Limited by Guarantee)**
## **INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024**
|**Income**
Ticket income
Donations received
Grants receivable
**Gross income in the reporting period**
**Less:**
**Direct costs**
Accommodation
Artists
Commission
Food
Piano and other hire
Venue hire
Travel and subsistence
Programme costs
**Administrative expenses**
Advertising and marketing – for raising funds
Subscriptions – for raising funds
Insurance
Administration
Accountancy
Independent examiners fee
Sundry expenses
**Total expenditure**
**Other income**
Bank Interest receivable
Other income
**Net incoming/ (outgoing) resources**|**2024**
**£**
**28,978**
**9,701**
**2,850**
**41,529**
**3,373**
**17,900**
**869**
**1,150**
**170**
**4,989**
**1,960**
**2,179**
**32,590**
**642**
**427**
**423**
**5,856**
**750**
**810**
**33**
**8,941**
**41,531**
**459**
**334**
**791**|2023
£
29,254
35,068
3,111|
|---|---|---|
|||67,433
3,442
18,400
-
123
312
4,527
2,399
-|
|||29,203
3,341
398
357
8,000
750
750
13|
|||13,609|
|||42,812
-
-|
|||24,621|
Page 16