BIDEFORD TOWN BAND
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st December 2021
Charity Number 1183817
www.bidefordtownband.co.uk
Bideford Town Band
Trustees’ Report
Trustees’ Report
Introduction
This is the second complete year in which Bideford Town Band has operated as a registered Charity.
The activities and assets of Bideford Town Band transferred from the previous legal entity, an association, to the current legal entity, the Charitable Incorporated Organisation, on 10 June 2019.
This report summarises the activities and governance of the organisation for the year ended 31 December 2021. The Trustees would like to thank everyone who has helped Bideford Town Band, in whatever capacity – as a player, a funder and members of the public, during another difficult year due to the Covid-19 pandemic.
Activities and Achievements
During the year the Covid-19 pandemic continued to severely impact the Band’s activities. Government guidance and restrictions prevented any playing activity for the Band from 16[th] March 2020 until June 2021. There were no rehearsals or band engagements during this time. The Band was able to rehearse once a week in the Pannier Market from June until November 2021 and in the Band room once a week from September, subject to following social distancing guidelines and undertaking risk assessments and additional cleaning and hygiene measures.
Members of Bideford Town Band comprise long-standing players as well as beginners of all ages. Players are helped to understand musical notation, practice their instrument, follow a conductor and play as part of a group. Instruments are loaned free of charge to members and young people for the purpose of practice, training and performances.
Bideford Town Band rehearses at the Band room, Riverside Studios, Kingsley Road, Bideford, North Devon EX39 2QQ.
Entering contests gives the band practical experience of high-pressure performance conditions as well as assessing their progress. Other public performances allow all members a chance to perform, in a variety of conditions, and provide the public with the opportunity to experience brass band music. To maximise performance opportunities and to reach more members of the public, Bideford Town Band supports some charitable organisations by either making no charge or by charging a reduced fee.
During the year, the band had approximately 30 playing members, with 10 who were training or beginners. This figure fluctuated throughout the year due to some players leaving and some joining the Band.
During 2021, the Trustees met online via Zoom and in the Band room to plan for the future of Bideford Town Band.
The Trustees had agreed in 2020 to invest some of Bob Rendle’s legacy in 30 Apple iPads plus accessories. The devices arrived during 2021 and were demonstrated but not yet brought into use.
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Trustees’ Report
The contents of the music library were (mostly) scanned to enable the pieces of music to be
downloaded to the iPads for rehearsals and playing at engagements and contests.
The Band trustees also agreed to purchase new instruments totalling £52,470 during 2021, again using funds from the legacy received from Bob Rendle.
Rehearsals
The Band rehearses under the direction of Mark Durham, Musical Director, a very experienced player who has directed and taught the Band since 2014. Normally, rehearsals take place twice a week on Monday and Thursday evenings from 7.45pm – 9.30pm with additional rehearsals, as required, before a Contest. Due to the Covid-19 restrictions, rehearsals were stopped in March 2020 and did not recommence until June 2021.
Concerts and engagements
No band engagements were able to take place, due to the Covid-19 restrictions, until a Remembrance concert in November at the Pannier Market, which has plenty of space, with a retiring collection for the Royal British Legion. Tamsin Ball was the guest singer. During December, a Christmas Concert was held in St Mary’s Church and carol playing outdoors in Mill Street and outside Morrisons supermarket were undertaken to raise funds for the Band.
Contests
All live contests were cancelled during 2021.
Training Academy
These had to stop from March 2020. Members of the Training Academy returned to rehearsals in the Pannier Market in June 2021 and then in the band room from September. In accordance with the Band’s Child Protection Policy, individuals that teach and assist with teaching the children in the band room and at any Schools are all DBS checked. Kingsley Prep School has some Bideford Town Band instruments on loan for some of their pupils to be taught by their head teacher. Several players from Kingsley are coming to the Training Academy on Mondays. Lessons at Westcroft School have not restarted but it is hoped they can next year.
The Training Academy is held on Monday evenings from 6.30pm during the school term. Young players are encouraged, as part of this free tuition, to attend rehearsal in the Band room and practice at home. The Academy participated in the concert at St Mary’s Church in December, giving them experience of playing in public. It is hoped that they may perform more as the groups develop their playing standard.
Supporters and volunteers
The Band has a small but dedicated group of non-playing volunteers who provide much needed help at events such as concerts organised by the Band. Band players are involved in a variety of roles including Trustees, Secretary, Treasurer, music librarian and assisting with publicity. New supporters are very welcome. Bideford Town Band is very grateful to all its supporters and volunteers for all their help during 2021.
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Bideford Town Band
Trustees’ Report
Fundraising
Due to the Pandemic, limited fundraising events for the Band took place during 2021. The 100 Club raised £912. Collections during December raised £1,089. No Grants were received during 2021.
Plans for the future
The Trustees have been using the services of music teacher, Paul Moulton, to teach the Training Academy from June 2021, with help from members of the Band and this will continue. Lessons at Westcroft School from September 2021 are planned to resume when possible. This will be funded for 2 years from unrestricted funds and grants will be sought to fund this activity thereafter.
A rolling programme of instrument care and replacement has been set up with the first new purchases in this programme being made in August 2021 and will be continued during 2022.
The new iPads will be brought into use, using the scanned music. There have been some issues causing delay, but these should be overcome. A small second batch is still to be sorted and this will be completed in 2022.
Rehearsals are taking place twice a week in the Band room and the Band will work towards a more usual engagement and Contest calendar in 2022, although some events involving groups of people, are still being cancelled due to Covid-19 and it was decided not to overcommit the Band as players will need time for other activities they have been unable to do during the past two years.
The Trustees are satisfied that there are sufficient unrestricted general reserves for the charity to draw upon for the foreseeable future. It is hoped some fundraising activities can take place in 2022 to generate further income.
Bideford Town Band is looking forward to returning to a ‘normal’ year of performing concerts and participating in Contests in 2022, following a return to rehearsals after such a long break.
Annual Report 2020 4
Bideford Town Band
Trustees’ Report
Financial Review
The results for the year ended 31[st] December 2021 are shown in the Statement of Financial Activities on page 11.
Income for the year was £2,611 (2020: £15,831). No grants were received in 2021. Income for 2020 included Covid-19 Business Support grant funding from Torridge District Council of £11,334, which was hugely welcome during a time when the Band was unable to raise funds through normal events and concerts.
Expenditure for the year ended 31[st] December 2021 amounted to £25,773 (2020: £10,770). The increased expenditure is due to higher depreciation charged on new iPads and instruments purchased during the year.
Activity was significantly curtailed during 2020 and 2021 due to the pandemic. This resulted in reduced income leading to a deficit for the year of £23,162 (2020: surplus of £5,061).
The band has a healthy balance sheet with reserves at 31[st] December 2021 totalling £289,947 (2020: £313,109).
Going concern
The Charity received a legacy of £134,222 in 2019 which has bolstered general reserves.
Whilst the current Covid-19 pandemic has led to very much depleted income in 2021 and 2020, the Trustees have reviewed the financial position of the Charity and believe that there are adequate resources to continue in operation for the foreseeable future, and for at least 12 months from the date of signing of the accounts.
These Accounts have consequently been prepared on a going concern basis.
Reserves
Reserves policy
The Trustees believe the level of free reserves (that is those funds not tied up in fixed assets, designated and restricted funds) should be more than one year’s maintenance and upkeep costs for the Band room and other administrative costs, assuming reduced engagements and concerts. This level has been set, in light of the coronavirus, to ensure that the Band can continue even if there is risk of lack of income for a whole year.
The level of annual
administrative and maintenance expenditure is estimated to be in the region of £20,000, including depreciation of fixed assets. Therefore, the level of general
unrestricted reserves should be £20,000.
Unrestricted funds
At 31[st] December 2021 the total unrestricted reserves were £289,547 (2020: £307,557). The Trustees have set aside an amount equivalent to the net book value of fixed assets as explained below in the section on Designated Funds. Free reserves were £75,804 (2020: £163,576). The Trustees are satisfied that there is a sufficient level of free reserves.
The reserves policy is reviewed on an annual basis.
Restricted funds
Grants are received for specific purposes, such as for instrument repair, uniforms or to contribute towards the costs of particular workshops and contests.
Details of the grants received and expended during the previous year are shown in the note on page 22.
Designated funds
£213,743 has been designated as the ‘Fixed Asset Fund’, reflecting the Net Book Value of Fixed Assets. This reflects the value of the Net Assets which cannot, by the nature of fixed assets, be used for other purposes.
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Trustees’ Report
Risk Management
The Charity maintains a risk register which is brought to Trustees for review periodically, with key risks highlighted at meetings of the Board of Trustees.
suffers from insufficient numbers of players. The Band endeavours to mitigate this by encouraging new players to join and by developing its existing players to maintain commitment and interest.
Risk assessment is an ongoing process, embedded in the day-today operations of the Charity. A risk assessment is undertaken for each contest and engagement and an annual health and safety assessment is made of the Band room. The Band Trustees review possible risks when a new project or activity is considered.
Principal risks and uncertainties, and mitigations against these are as follows:
The social distancing measures and other restrictions arising from the global coronavirus pandemic have resulted in the Band not being able to play. This presented a newly recognised risk that income may be significantly reduced resulting from the inability to play at engagements due to external factors, howsoever caused. This risk is mitigated through the prudent reserves policy.
There is a risk that there may be insufficient numbers of players available for an engagement, whether due to sickness or holidays or for any other reason. This could cause reputational risk to the Band if the quality of music
Annual Report 2020 6
Bideford Town Band
Trustees’ Report
Structure, Governance and management
Bideford Town Band is a charitable incorporated organisation (CIO) which was registered with the Charity Commission in England and Wales on 10 June 2019. It is governed by the Constitution and its governing body is the Board of Trustees.
Registered office
Riverside Studio Kingsley Road Bideford EX39 2QQ
Registered Charity number: 1183817
Website:
www.bidefordtownband.co.uk
Charitable objects
The Charity’s objects are:
To promote, maintain, improve and advance the education of the public in the art of music making and, in particular, the art and science of brass band music, by the presentation of, and participation in, concerts, contests and similar activities, and to encourage the musical education of young and novice players by the provision of tuition and training facilities.
Trustees appointment
The Board of Trustees consists of a chairman and ten trustees. The constitution allows for not less than seven and no more than
ten elected trustees; and one nominated trustee.
At each annual general meeting of the members of the CIO, one-third of the elected charity trustees shall retire from office. The charity trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment.
Any person who retires as a charity trustee by rotation or by giving notice to the CIO is eligible for reappointment.
An induction programme is provided for Trustees on appointment. Members of the Board have individual areas of expertise and share information on relevant changes in legislation affecting the charity and best practice.
Members
Membership of the CIO is open to anyone who is interested in furthering its purposes.
All members in the Senior band over 18 are eligible to vote, on a
resolution, after being a member for 6 months.
There are currently five Life Members. Life members are able to attend any meeting of the charity trustees if they so desire provided that they give notice to the Chairperson of their intention to be present. Their entitlement to vote will remain restricted to general meetings only.
There must be an annual general meeting (AGM) of the members of the CIO. AGMs must be held at intervals of not more than 15 months. The AGM must receive the annual statement of accounts (duly audited or examined where applicable) and the Trustees’ Annual Report.
Other general meetings of the members of the CIO may be held at any time.
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Trustees’ Report
Public Benefit Statement
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit.
The Trustees ensure that these purposes are carried out for the public benefit by membership being open to all and by playing to the public, often at free-to-attend venues such as the green at Westward Ho! and the bandstand in Ilfracombe.
All Trustees give their time voluntarily and receive no benefit from the charity in relation to their role as Trustees. Any expenses reclaimed from the charity are set out in note 5 to the financial statements on page 19.
Charity Governance Code
The Board of Trustees considers the Charity to have sound governance arrangements in place.
The Trustees will use the Charity Governance Code as a helpful tool to self-assess Board performance over the coming year.
Data Protection and Information Governance
compliance with privacy
legislation, working to safeguard our supporters’ information and respecting their preferences. The personal information obtained is held, used, transferred and processed in accordance with the Data Protection Act 2018 and all other applicable data protection laws and regulations including, but not limited to, the EU General Data Protection Regulation (2016/679) and the Privacy and Electronic Communication Regulations 2003.
Fundraising Governance
The Charity’s Trustees are aware of their obligations under the Charity Commission guidance on Charity Fundraising (CC20).
The Charity received no complaints during the year, and no sign ups to the Fundraising Preference Service. The Trustees will respond appropriately to all issues raised.
The Charity takes seriously the protection of vulnerable people and other members of the public from inappropriate fundraising behaviour. In order to protect against unreasonable intrusion, persistence and undue pressure to give, the Band ensures communications to supporters are relevant to their targeted audience and there is a clear opportunity for supporters to opt out of receiving communications.
Bideford Town Band is committed to ensuring
Annual Report 2020 8
Bideford Town Band
Trustees’ Report
Statement of Trustees’ Responsibilities
The charity Trustees are responsible for preparing a Trustees’ Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The charity Trustees are required to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of incoming resources and application of resources. In preparing financial statements, the Trustees are required to:
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Select suitable accounting policies and apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgements and estimates that are reasonable and prudent;
• State whether applicable accounting standards 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 charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. 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.
Approved by the Trustees on 08/10/2022
and signed on their behalf by:
Chair of the Board of Trustees
Annual Report 2020 9
Bideford Town Band
Trustees’ Report
Board of Trustees
The following Trustees served throughout the year:
Mark Pearce (Chair)
Rebecca Frisby (Secretary) Barbara Darch (Treasurer) Geoffrey Brown Julie Brown Mark Durham Trevor Johns * Chris Marshall Kimberley Sherborne Tim Watts Gary Taylor
* Nominated by Bideford Town Council
Musical Director: Mark Durham
Advisors
Bankers
Barclays Bank UK Plc Barnstaple Branch Leicestershire LE87 2BB Leicester
Solicitors
Brewer Harding and Rowe 29 Bridgeland Street Bideford Devon EX39 2PT
Annual Report 2020 10
Financial Statements
Bideford Town Band
Statement of Financial Activities for the year ended 31 December 2021
| Unrestricted | Restricted | Year ended | Year ended | ||
|---|---|---|---|---|---|
| Funds | Funds | 31.12.2021 | 31.12.2020 | ||
| Notes | £ | £ | £ | £ | |
| Income | |||||
| Donations, grants & legacies | 2.1 | 1,145 | - | 1,145 | 15,363 |
| Charitable activities | 2.2 | 1,119 | - | 1,119 | 137 |
| Other income | 310 | - | 310 | - | |
| Investment income - Interest received | 7 | - | 7 | 13 | |
| Other Trading activity – Hire of Band room | 30 | - | 30 | 318 | |
| Total income | 2,611 | - | 2,611 | 15,831 | |
| Expenditure | |||||
| Raising funds | 3.1 | 448 | - | 448 | 500 |
| Charitable activities | 3.2 | 24,298 | 1,027 | 25,325 | 10,270 |
| Total expenditure | 24,746 | 1,027 | 25,773 | 10,770 | |
| Net (expenditure)/income | (22,135) | (1,027) | (23,162) | 5,061 | |
| Transfers | 4,525 | (4,525) | - | - | |
| Net movement in funds | (17,610) | (5,552) | (23,162) | 5,061 | |
| Fund balances brought forward at | |||||
| 1 January | 307,557 | 5,552 | 313,109 | 308,048 | |
| Fund balances carried forward at 31 December 2021 | 289,947 | - | 289,947 | 313,109 |
Notes 1 to 11 form part of the financial statements.
All income relates to continuing activities.
There is no material difference between the net income of the period and the historical cost equivalents.
All gains and losses recognised in the period are included in the Statement of Financial Activities.
Annual Report 2020 11
Financial Statements
Bideford Town Band
Balance Sheet as at 31 December 2021
| 31 December | 31 December | ||
|---|---|---|---|
| 2021 | 2020 | ||
| Notes | £ | £ | |
| Fixed assets | |||
| Tangible assets | 6 | 213,743 | 143,981 |
| Current assets | |||
| Debtors: amounts falling due within one year | 7 | 414 | 48 |
| Stock of CDs | 2,230 | 2,245 | |
| Cash at bank and in hand | 73,560 | 166,835 | |
| Total Current Assets | 76,204 | 169,128 | |
| Total Net Assets | 289,947 | 313,109 | |
| The Funds of the Charity | |||
| Restricted | 9.1 | - | 5,552 |
| Unrestricted | |||
| General | 9.2 | 76,204 | 163,576 |
| Designated | 9.3 | 213,743 | 143,981 |
| Total Funds | 289,947 | 313,109 |
Approved by the Board of Trustees on 08/10/2022 and signed on its behalf by
Chair
Annual Report 2020 12
Financial Statements
Bideford Town Band
Notes to the Accounts
1.1 Nature of reporting entity
Bideford Town Band is a Charitable Incorporated Organisation registered with the Charities Commission in England and Wales (charity number 1183817).
Basis of preparation of Accounts
The financial statements are prepared under the historical cost convention and in accordance with the Charities Act 2011, the ‘Accounting and Reporting by Charities: Statement of Recommended Practice 2015’ (‘Charities SORP’) published in July 2014, applicable accounting and reporting standards in the United Kingdom, including Financial Reporting Standard 102.
The Charitable Incorporated Organisation (CIO), Charity Number 1183817 was registered on 10[th] June 2019, to take forward the work of the unincorporated association known as Bideford Town Band. All the assets, liabilities and funds were transferred with effect from 10[th] June 2019.
The charity meets the definition of a public benefit entity under FRS 102.
The accounts have been presented in pounds sterling.
Going concern
As noted in the Financial Review on page5, the Trustees consider the Charity to be a going concern, that there are no material uncertainties around its status as a going concern, and these Accounts have been prepared on that basis.
Previous legal entity
Bideford Town Band since its registration as a CIO on 10 June 2019. The assets and liabilities of the previous unincorporated association were transferred on that date. Net assets totalled £304,483.
1.2 Incoming resources
All incoming resources are recognised once the Charity has entitlement to the resources, they can be reliably measured and receipt is probable.
A. Donations, grants and legacies
This includes incoming resources generated from gifts, donations, grants, legacies, gifts in kind, intangible income and donated services and facilities:
-
Donations are accounted for when receivable, measurable, entitled and there is probability of receipt.
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Grants are accounted for when receivable, measurable, entitled and there is probability of receipt.
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Legacies are recognised once there is sufficient evidence that a receipt is probable and the amount of the legacy can be measured reliably. Where entitlement to a legacy exists but there is uncertainty as to its receipt or the amount receivable, details are disclosed as a contingent asset until the criteria for income recognition are met.
B. Interest receivable
Interest receivable is accounted for as it is received.
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Financial Statements
Bideford Town Band
C. Other incoming resources
These are incoming resources generated by the Charity which will be used to undertake its charitable activities. Income is recognised when the CIO has entitlement to the income, it is probable that it will be received, and the amount can be reliably measured.
1.3 Expenditure
Liabilities are 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. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category.
A. Raising funds
The costs of raising funds are the costs associated with generating income for the funds held on trust. This will include the costs associated with investment and property management, certain legal fees, consultancy and other direct costs. The costs of raising funds include an apportionment of overhead, support and governance costs.
B. Charitable activities
Cost of charitable activities comprises all costs incurred in the pursuit of the charitable objects of the Charity. These costs, where not wholly attributable, are apportioned between categories of charitable expenditure. The total costs of each category of charitable expenditure therefore include an apportionment of overhead, support and governance costs. The analysis of overhead and support costs and the bases of apportionment are set out at note 4. to the Accounts.
C. Allocation of overhead and support costs:
Support costs are allocated between the cost of raising funds and cost of charitable activities as a proportion of the estimated use of the Band room.
D. Irrecoverable VAT:
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
1.4 Structure of funds
A. Restricted income funds:
Restricted funds are funds subject to specific restrictions imposed by the donor.
B. Unrestricted income funds:
Unrestricted funds are available for application at the discretion of the Trustees in furtherance of the charitable objects of the Charity. The Trustees may earmark an element of the unrestricted funds separately for a particular project and these are identified as designated funds. This designation does not legally restrict the Trustees’ discretion to apply the fund.
C. Designated funds:
Designated funds are set aside by the trustees. The fixed asset fund represents the value of general funds invested in the Band Room building, and other fixed assets which are not, by nature of fixed assets, readily available for use for other purposes.
Annual Report 2020 14
Financial Statements
Bideford Town Band
1.5 Fixed assets
A. Capitalisation
All assets falling into the following categories are capitalised:
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a. Tangible assets which are capable of being used for more than one year and have a cost equal to or greater than £1,000.
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b. Groups of tangible fixed assets which are interdependent or would normally be provided or replaced as a group with a total value of more than £1,000 and an individual value of £250 or more.
B. Valuation
Tangible fixed assets except land and buildings are stated at the lower of cost and recoverable amount. On initial recognition they are measured at cost including costs such as installation directly attributable to bringing them into working condition. The carrying values of tangible fixed assets are reviewed for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
Equipment is valued at the lower of cost or estimated recoverable amount.
C. Depreciation, amortisation and impairment
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a. Depreciation is charged on each main class of tangible assets as follows:
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Charitable buildings (the Band room) are depreciated over 50 years on a straight-line basis.
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Computer equipment and office fixtures and fittings are depreciated over three years on a straight-line basis.
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The oldest instruments (purchased before December 2019) are depreciated over five years on a straight-line basis.
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New instruments (from 2021) are depreciated over ten years on a straight-line basis.
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b. Each equipment asset is depreciated over its expected useful life.
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Impairment losses resulting from short-term changes in price that are considered to be recoverable in the long term are taken in full to the Statement of Financial Activities in the year when the impairment was recognised. The Trustees do not consider the residual value of the fixed assets to be lower than the current carrying value in the accounts.
1.6 Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening carrying value (or date of purchase if later).
1.7 Financial instruments disclosure
a. Cash and cash equivalents
Cash at bank and in hand is held to meet the day to day running costs of the Charity as they fall due. Cash equivalents are short term deposits with a maturity date of three months or less.
b. Debtors and creditors
Debtors and creditors receivable or payable within one year of the reporting date are carried at their transaction price.
Annual Report 2020 15
Financial Statements
Bideford Town Band
Debtors and creditors that are receivable or payable in more than one year and not subject to a
market rate of interest are measured at the present value of the expected future receipts or payments discounted at a market rate of interest.
1.8 Critical accounting estimates and areas of judgement
In the application of the charitable accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the Accounts nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.
Annual Report 2020 16
Financial Statements
Bideford Town Band
2. Income
| 2. Income | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Year ended 31 | Year ended 31 | |
| Funds | Funds | December 2021 | December 2020 | |
| £ | £ | £ | £ | |
| 2.1 Donations, grants & legacies | ||||
| Donations and Grants | 147 | - | 147 | 14,321 |
| Legacies | 86 | - | 86 | - |
| Communityfundraising | 912 | - | 912 | 1,042 |
| Total | 1,145 | - | 1,145 | 15,363 |
| 2.2 Charitable activities | ||||
| Engagements,Contests and CD Sales | 1,119 | - | 1,119 | 137 |
| Total | 1,119 | - | 1,119 | 137 |
| Other income | ||||
| Sundry income | - | - | - | - |
| Sale of instruments | 310 | - | 310 | - |
| Total | 310 | - | 310 | - |
| Investment income – interest received | 7 | - | 7 | 13 |
| Other Trading activity – Hire of Band room | 30 | - | 30 | 318 |
| Total income | 2,611 | - | 2,611 | 15,831 |
2.3 Legacies
In accordance with the accounting policy (Note 1.2 above) legacies are recognised as income once payment has been agreed with the Executors of the Will prior to the Balance Sheet date and the payment is either received before the Accounts are approved, or is notified as receivable, and receipt is considered probable. The Charity was notified prior to 10 June 2019 of one legacy with a value to the Charity of £134,221. This income was recognised in the period ended 10 June 2019 and included in the amount transferred from the previous association.
Annual Report 2020 17
Financial Statements
Bideford Town Band
| 3. Expenditure | ||||
|---|---|---|---|---|
| Year ended | Year ended |
|||
| Unrestricted | Restricted | 31 December | 31 December |
|
| Funds | Funds | 2021 | 2020 |
|
| 3.1 Cost of raising funds | £ | £ | £ | £ |
| Costs of fundraisingevents and raffles | 448 | - | 448 | 500 |
| Total cost ofgenerating voluntary income | 448 | - | 448 | 500 |
| 3.2 Charitable activities | ||||
| Fees and expenses for contests and | ||||
| engagements | 8,141 | 1,027 | 9,168 | 7,606 |
| Music and maintenance of instruments | 16,070 | - | 16,070 | 2,644 |
| Cost of CD production (adjusted for stock) | 87 | - | 87 | 20 |
| Total cost of charitable activity | 24,298 | 1,027 | 25,325 | 10,270 |
| Total Expenditure | 24,746 | 1,027 | 25,773 | 10,770 |
Annual Report 2020 18
Financial Statements
Bideford Town Band
4. Resources Expended
| 4. Resources Expended | |||
|---|---|---|---|
| Direct | Support | ||
| Year ended 31.12.2021 | costs | costs | Total |
| Cost of raising funds | £ | £ | £ |
| Costs of fundraising events and raffles | 448 | - | 448 |
| Total cost ofgenerating voluntary income | 448 | - | 448 |
| Charitable activities | |||
| Fees and expenses for contests and engagements | 1,570 | 7,598 | 9,168 |
| Music and maintenance of instruments | 2,752 | 13,318 | 16,070 |
| Cost of CD production (adjusted for stock) | 15 | 72 | 87 |
| Total cost of charitable activity | 4,337 | 20,988 | 25,325 |
| Total Expenditure | 4,785 | 20,988 | 25,773 |
| 4. Resources Expended | |||
| Direct | Support | ||
| Year ended 31.12.2020 | costs | costs | Total |
| Cost of raising funds | £ | £ | £ |
| Costs of fundraising events and raffles | 500 | - | 500 |
| Total cost ofgenerating voluntary income | 500 | - | 500 |
| Charitable activities | |||
| Fees and expenses for contests and engagements | 1,323 | 6,283 | 7,606 |
| Music and maintenance of instruments | 460 | 2,184 | 2,644 |
| Cost of CD production (adjusted for stock) | 20 | - | 20 |
| Total cost of charitable activity | 1,803 | 8,467 | 10,270 |
| Total Expenditure | 2,303 | 8,467 | 10,570 |
Support costs are allocated between the cost of raising funds and cost of charitable activities as a proportion of the estimated use of the Band room. Fundraising activity has been estimated be 0% of usage (2020: 0%) and Charitable activities estimated at 100% (2020: 100%) of the usage during 2021.
5. Trustees expenses and remuneration
None of the Trustees received any remuneration from the Charity during the current or previous financial year. One Trustee, Mark Durham, the Musical Director, was reimbursed for Childcare expenses incurred while carrying out his responsibilities for the Charity during the year totalling £nil (2020 - £600).
Annual Report 2020 19
Financial Statements
Bideford Town Band
6. Tangible fixed assets
| Computer | ||||
|---|---|---|---|---|
| Building | equipment | Instruments | Total | |
| £ | ||||
| Cost | ||||
| Balance as at 1 January 2021 | 145,000 | 640 | 7,009 | 152,649 |
| Additions | - | 34,847 | 52,470 | 87,317 |
| Balance as at 31 December 2021 | 145,000 | 35,487 | 59,479 | 239,966 |
| Depreciation | ||||
| Balance as at 1 January 2021 | 5,800 | 425 | 2,443 | 8,668 |
| Depreciation charge for theperiod | 2,900 | 11,829 | 2,826 | 17,555 |
| Balance as at 31 December 2021 | 8,700 | 12,254 | 5,269 | 26,223 |
| Net Book Value | ||||
| At 31 December 2021 | 136,300 | 23,233 | 54,210 | 213,743 |
| At 31 December 2020 | 139,200 | 215 | 4,566 | 143,981 |
Prior to 2019 the fixed assets were not depreciated. A depreciation policy was introduced in 2020.
The building (the Band room) was purchased in 2011 for £145,000. The legal title to the buildings is currently held under a Deed of Trust for Bideford Town Band by four nominee Trustees. The title to the property is in the process of being transferred to the registered charity.
The purchase of the property was partly funded by a grant of £50,000 from Bideford Bridge Trust, which was provided subject to a charge being provided over the property of £50,000 and is repayable if certain events occur, such as the dissolution of the Bideford Town Band. More information is provided in Note 10 below.
7. Debtors
| 7. Debtors | |||||
|---|---|---|---|---|---|
| Total at | Total at | ||||
| 31 December | 31 December | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Accrued Income – legacies notified and due to be received | - | - | |||
| Prepayments | 414 | 48 | |||
| Other Debtors | - | - | |||
| Total debtors falling due within oneyear | 414 | 48 | |||
| 8. Analysis of net assets between funds | |||||
| 2021 | 2020 |
||||
| Total | Total |
||||
| Unrestricted | Restricted | Funds | Funds |
||
| General | Designated | ||||
| £ | £ | £ | £ | £ |
|
| Fund balances at 31 December 2021 are | |||||
| represented by: | |||||
| Tangible fixed assets | - | 213,743 | - | 213,743 | 143,981 |
| Current assets and liabilities | 76,204 | - | - | 76,204 | 169,128 |
| Creditors: amounts falling due after more | |||||
| than oneyear | - | - | - | - | - |
| Total net assets | 76,204 | 213,743 | - | 289,947 | 313,109 |
Annual Report 2020 20
Financial Statements
Bideford Town Band
9. Charity funds
A. Movement for the year ended 31 December 2021
| Balance | |||||
|---|---|---|---|---|---|
| Balance 1 | Transfers | 31 | |||
| January | Incoming | Resources | between | December | |
| 2021 | Resources | Expended | Funds | 2021 | |
| £ | £ | £ | £ | £ | |
| 9.1 Restricted funds | |||||
| Bideford Bridge Trust Grant | 4,125 | - | - | (4,125) | - |
| Bideford Council Grant | 1,027 | - | (1,027) | - | - |
| Devon CountyCouncil Grant | 400 | - | - | (400) | - |
| Total Restricted Funds | 5,552 | - | (1,027) | (4,525) | - |
| 9.2 Unrestricted funds | |||||
| General funds | 163,576 | 2,611 | (24,746) | (65,237) | 76,204 |
| 9.3 Designated fund: | |||||
| Fixed Asset Fund | 143,981 | - | - | 69,762 | 213,743 |
| Total unrestricted funds | 307,557 | 2,611 | (24,746) | 4,525 | 289,547 |
| Total funds | 313,109 | 2,611 | (25,773) | - | 289,947 |
B. Movement for the year ended 31 December 2020
| Balance | |||||
|---|---|---|---|---|---|
| Balance 1 | Transfers | 31 | |||
| January | Incoming | Resources | between | December | |
| 2020 | Resources | Expended | Funds | 2020 | |
| £ | £ | £ | £ | £ | |
| 9.1 Restricted funds | |||||
| Bideford Bridge Trust Grant | 2,625 | 1,500 | - | - | 4,125 |
| Bideford Council Grant | 1,487 | (460) | - | 1,027 | |
| Devon CountyCouncil Grant | 400 | - | - | - | 400 |
| Total Restricted Funds | 3,025 | 2,987 | (460) | - | 5,552 |
| 9.2 Unrestricted funds | |||||
| General funds | 156,528 | 12,844 | (10,310) | 4,514 | 163,576 |
| 9.3 Designated fund: | |||||
| Fixed Asset Fund | 148,495 | - | - | (4,514) | 143,981 |
| Total unrestricted funds | 305,023 | 12,844 | (10,310) | - | 307,557 |
| Total funds | 308,048 | 15,831 | (10,770) | - | 313,109 |
Designated Fixed Asset Fund
The fixed asset fund includes the value of general funds invested in the Band Room building, and other fixed assets which are not, by nature of fixed assets, readily available for use for other purposes.
Annual Report 2020 21
Financial Statements
Bideford Town Band
9. Charity funds (continued)
Restricted funds Fund Name Description of the nature and purpose of each fund Bideford Council Grant Towards Contest expenditure, music and music stands Bideford Bridge Trust Grant For new instruments, reconditioning of old instruments and trophies for solo contest Devon County Council Grant For a Children’s workshop
10. Commitments, liabilities and provisions
Contingent liability
The property (the Band room) is registered with the Land Registry as Title No. DN582009, and is registered as Screen House, Victoria Park, Kingsley Road, Bideford. This property was purchased in March 2011, in part with a grant from Bideford Bridge Trust of £50,000 which was subject to a charge being provided over the property. The grant is repayable if any of the following events occur:
-
Bideford Town Band is dissolved
-
The constitution of the Bideford Town Band is amended so that its primary purpose is no longer to provide a Town Band for Bideford
-
Bideford Town Band ceases to use the property
-
Any property of Bideford Town Band becomes subject to forfeiture or execution, distress, bankruptcy or other form of process
-
A mortgagee takes possession of, or exercises or seeks to exercise any power of sale or other appointment of a receiver in relation to the property charged or any other property of Bideford Town Band
-
Bideford Town Band ceases or proposes to cease to carry on as a Town Band for Bideford
-
Bideford Town Band becomes insolvent.
The Trustees do not have any other commitments, liabilities or provisions requiring disclosure other than those included in the financial statements (2020: none).
11. Related-party transactions
During the year none of the Trustees or parties related to them has been involved in any material transactions with Bideford Town Band, except as disclosed in Note 5 above whereby one Trustee, Mark Durham, the Musical Director, was reimbursed for Childcare expenses incurred while carrying out his responsibilities for the Charity during the year totalling £nil (2020 - £600).
There were no transactions with other entities in which Trustees of the Charity hold positions of authority.
Annual Report 2020 22
BIDEFORD TOWN BAND
Address for correspondence:
The Secretary, 6 Victoria Grove, Bideford, North Devon, EX39 2DN
Telephone: 01237 475653
Email: bandsecretary@bidefordtownband.co.uk