++++
BIDEFORD TOWN BAND
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st December 2024
Charity Number 1183817
www.bidefordtownband.co.uk
Bideford Town Band
Trustees’ Report
Trustees’ Report
Introduction
Bideford Town Band is a registered Charity. The activities and assets of Bideford Town Band were 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 2024. 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 the year.
Activities and Achievements
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 10-15 young people in the Academy Band. This figure fluctuated throughout the year due to some players leaving and some joining the Band.
During 2024, the Trustees met in the Band room to plan for the future of Bideford Town Band. In 2021 the Trustees had agreed to invest some of Bob Rendle’s legacy in 30 Apple iPads plus accessories. The iPads enable music to be downloaded for rehearsals and playing at engagements and contests. The devices were brought into use during 2022 and have been easy to use, with some tuition, and proved very successful for rehearsals and concerts. Wi-fi is now enabled in the Band room to facilitate their use. A new percussion instrument, (Tubular Bells and mallets) and second hand bass trombone were also purchased, as agreed by the Trustees.
2
Annual Report 2024
Bideford Town Band
Trustees’ Report
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. Rehearsals take place twice a week on Monday and Thursday evenings from 7.45pm – 9.30pm with additional rehearsals, as required, before a Contest.
Concerts and engagements
The Band took part in Bideford Manor Court and the Mayor’s Introduction Ceremony, providing music for the guests of the Town Council, as well as the annual Remembrance Services and Carnival for the Town. A Concert was held with Denton College, a visiting school, in June to entertain and educate the pupils studying brass music. During the summer, the Band performed at outdoor Concerts at Westward Ho! on Thursday evenings, which were very popular, despite several being cancelled due to inclement weather. Bideford Rotary Club and Classic Car Club organised a second Festival of Transport, and the Band performed music for people looking around the vehicles. A successful autumn Concert was held, with guests Two Rivers Wind Ensemble, at Bideford Pannier Market, to raise funds for both Bands and entertain the public. The popular Christmas Concert was held at Bideford Baptist Church, with the Academy Band included, playing some of their music, which was very much appreciated and one of the best with the Band dressing up in nativity costumes for the second half. Carol playing took place in Mill Street, at Morrisons and Asda and at the ‘Westward Ho! Big Sing’, as well as at a care home for the residents to enjoy. Collections were taken during most of these events to raise funds for the Band.
Contests
The Band was promoted to the third section in 2023 following their success in winning the fourth section, at the West of England Regional Championships and coming 2nd in the National Finals in 2022. They came 6th in the 2024 West of England Regional Championships in March. The Bugle West of England Bandmen’s Festival Contest was entered in June, for the second time and the Band was delighted to come 1st in the third section. In November, the Band entered the Wychavon Festival of Brass, a national entertainment contest, for the first time and came 4th in the third section with very positive remarks about the programme and soloists.
The Band has experienced a highly positive year, with members demonstrating strong teamwork under Mark's leadership. Their collaborative efforts have effectively built upon prior achievements, resulting in continued success following their promotion. Special thanks to our sponsors and donors, including Torridge District Councillors and Bideford Town Council for their support with funding to attend these Contests.
Bideford Town Band Academy
Rehearsals are scheduled on Monday evenings at 6pm during school terms, with dedicated groups for beginners and improvers to facilitate more rapid progress in their musical
3
Annual Report 2024
Bideford Town Band
Trustees’ Report
development. They have been taught by Paul Moulton, an experienced music teacher, with assistance from members of the Band. 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 Preparatory School has some Bideford Town Band instruments on loan for some of their pupils to be taught by their head teacher. Players are encouraged, as part of this free tuition, to attend rehearsals in the Band room and practice at home. Several players from Kingsley School are coming to the Band Academy on Mondays. The Band Academy participated in the Christmas concert giving them experience of playing in public. Awards were also given to encourage them and reward their achievements. It is hoped that they may perform more as the group develops their playing standard. Several players have progressed to attending the senior band rehearsal for an hour.
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. Players are also involved in a variety of voluntary roles including Trustees, Secretary, Treasurer, music librarian and assisting with publicity. New supporters are needed and very welcome.
Cllr Simon Inch is the Bideford Town Council representative and is a non-elected Trustee.
Bideford Town Band is very grateful to all its supporters and volunteers for all their help during 2024.
Fundraising
Fundraising events were able to take place during 2024. These focused on raising money towards the Band expenses and running costs. Donations from collections at the summer concerts were put towards the general band funds. A coffee morning was held in the Band room, as well as 2 successful bingo evenings at Northam Hall.
The Band was very grateful to receive the following grants:
-
The Balsdon Trust (Music) £1000
-
Torridge District Councillor Community Grants (Jude Gubb/Music) £300
-
Torridge District Councillor Community Grants (Trevor Johns/Academy) £500
-
Bideford Town Council (Contest Expenses) £2,000
-
Bideford Bridge Trust (Sound proofing band room) £2,500
-
Bideford Rotary Club (Lyres and accessories) £250
4
Annual Report 2024
Bideford Town Band
Trustees’ Report
Plans for the future
The Trustees will continue to use the services of music teacher, Paul Moulton, to teach the Academy Band and encourage new players to the Senior Band to ensure all parts are covered in the future.
The Band needs to raise more income to cover its running expenses and outgoings, as planned by the Trustees. Fees and donations for engagements will be reviewed as well as some of the expenses such as insurance and utility bills.
The rolling programme of instrument care and replacement was accelerated in 2022 to replace more instruments in time for rehearsing for the National Finals to maximise the chance of success and now the Band has a good set of instruments and percussion. The new instruments will be looked after to ensure a long life and the older instruments are now able to be used by more Academy Band players. The iPads will continue to be used and new music is being added as it is bought.
Rehearsals are taking place twice a week in the Band room and the Band will work towards a full engagement and contest calendar in 2025. The Band is looking forward to building on the success of 2024, with its positive results in the 3rd Section, at the West of England Contest in March and the Bugle West of England Festival in June, and either the SWBBA or Wychavon Entertainment Festival in November.
The Trustees are satisfied that there are sufficient unrestricted general reserves for the charity to draw upon for the foreseeable future. The Band will continue its engagements and fundraising to generate further income.
5
Annual Report 2024
Bideford Town Band
Trustees’ Report
Financial Review
The results for the year ended 31[st] December 2024 are shown in the Statement of Financial Activities on page 12.
Income for the year was £19,553 (2023: £14,213), including income of £6,550 in grants from local councils (2023: £4,592). Prior to the pandemic the Band’s anticipated annual income was approximately £20,000, excluding any legacy income. This is broadly equivalent to the annual running costs for the Band excluding depreciation. The Band was fortunate to be able to weather the difficulties of the pandemic through the receipt of a Covid relief grant from the local authorities and also due to the receipt of the large legacy in 2020 from the estate of Bob Rendle. Income has now increased to prepandemic levels, largely through further fundraising efforts and additional grant income.
Expenditure for the year ended 31[st] December 2024 amounted to £28,780 (2023: £38,638). Depreciation expenditure is now reducing as amounts paid for the iPads
and computer equipment purchased during 2021 and 2022 has been fully depreciated.
A deficit arose for the year ended 31 December 2024 of £9,227 (2023: deficit of £24,425).
The band has a healthy balance sheet with reserves at 31[st] December 2024 totalling £226,141 (2023: £235,368).
Going concern
The Charity received a legacy of £134,222 in 2019 which bolstered general reserves. The trustees made the decision to invest much of this legacy in new instruments and ipads. This has had the effect of increasing levels of annual expenditure due to the higher depreciation being charged.
Whilst the Covid-19 pandemic 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 expenditure, before depreciation of fixed assets, is estimated to be in the region of £20,000. Therefore, the level of general unrestricted reserves should be no less than £20,000.
Unrestricted funds
At 31[st] December 2024 the total unrestricted reserves were £224,077 (2023: £235,368). The Trustees have set aside an amount equivalent
6
Annual Report 2024
Bideford Town Band
Trustees’ Report
to the net book value of fixed assets as explained below in the section on Designated Funds. Free reserves were £45,066 (2023: £47,990). 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 note 9 on pages 21 and 22.
Designated funds
£179,011 (2023: £187,378) 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.
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.
Risk assessment is an ongoing process, embedded in the day-to-day 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 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 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.
7
Annual Report 2024
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, onethird 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.
8
Annual Report 2024
Bideford Town Band
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
Bideford Town Band is committed to ensuring
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.
9
Annual Report 2024
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:
-
Select suitable accounting policies and apply them consistently;
-
Observe the methods and principles in the Charities SORP;
-
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 15/10/2025
and signed on their behalf by Philip Boardman:
Treasurer of the Board of Trustees
10
Annual Report 2024
Bideford Town Band
Trustees’ Report
Board of Trustees
The following Trustees served throughout the year:
Mark Pearce (Chair) resigned July 2024 Rebecca Frisby (Secretary) Philip Boardman (Treasurer) Mark Durham Cllr Simon Inch * Chris Marshall Gary Taylor
Chris Northey Youngs Geoffrey Brown (retired November 2024 AGM) Julie Brown (retired November 2024 AGM)
Joanna Boardman (appointed Chairperson November 2024 AGM - resigned October 2025) Joanne Legge (appointed November 2024 AGM) Janet Marshall (appointed November 2024 AGM) Jonathan Taylor (appointed November 2024 AGM)
* Nominated by Bideford Town Council
Musical Director: Mark Durham (resigned as MD June 2025 but remains a trustee)
Advisors
Bankers
Solicitors
Barclays Bank UK Plc Barnstaple Branch Leicestershire LE87 2BB Leicester
Brewer Harding and Rowe 29 Bridgeland Street Bideford Devon EX39 2PT
11
Annual Report 2024
Financial Statements
Bideford Town Band
Statement of Financial Activities for the year ended 31 December 2024
| Unrestricted | Restricted | Year ended | Year ended | ||
|---|---|---|---|---|---|
| Funds | Funds | 31.12.2024 | 31.12.2023 | ||
| Notes | £ | £ | £ | £ | |
| Income | |||||
| Donations, grants & legacies | 2.1 | 4,749 | 6,550 | 11,299 | 8,155 |
| Charitable activities | 2.2 | 6,058 | - | 6,058 | 4,423 |
| Other income | 440 | - | 440 | 32 | |
| Investment income - Interest received | 586 | - | 586 | 433 | |
| Other Trading activity – Hire of Band room | 1,170 | - | 1,170 | 1,170 | |
| Total income | 13,003 | 6,550 | 19,553 | 14,213 | |
| Expenditure | |||||
| Raising funds | 3.1 | (681) | - | (681) | (407) |
| Charitable activities | 3.2 | (23,613) | (4,486) | (28,099) | (38,231) |
| Total expenditure | (24,294) | (4,486) | (28,780) | (38,638) |
|
| Net (expenditure)/income | (11,291) | 2,064 | (9,227) | (24,425) |
|
| Transfers | - | - | - | - | |
| Net movement in funds | (11,291) | 2,064 | (9,227) | (24,425) |
|
| Fund balances brought forward at 1 January | 235,368 | - | 235,368 | 259,793 | |
| Fund balances carried forward at 31 | |||||
| December | 224,077 | 2,064 | 226,141 | 235,368 |
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.
12
Annual Report 2024
Financial Statements
Bideford Town Band
Balance Sheet at 31 December 2024
| 31 December | 31 December | ||
|---|---|---|---|
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Fixed assets | |||
| Tangible assets | 6 | 179,011 | 187,378 |
| Current assets | |||
| Debtors: amounts falling due within one year | 7 | 565 | 543 |
| Stock of CDs | 2,118 | 2,141 | |
| Cash at bank and in hand | 44,597 | 45,516 | |
| Total Current Assets | 47,280 | 48,200 | |
| Current liabilities | |||
| Creditors – due in less than 1 year | (150) | (210) | |
| Total Current Liabilities | (150) | (210) | |
| Net Current Assets | 47,130 | 47,990 | |
| Total Net Assets | 226,141 | 235,368 | |
| The Funds of the Charity | |||
| Restricted | 9.1 | 2,064 | - |
| Unrestricted | |||
| General | 9.2 | 45,066 | 47,990 |
| Designated | 9.3 | 179,011 | 187,378 |
| Total Funds | 226,141 | 235,368 |
Approved by the Board of Trustees on 15/10/2025 and signed on its behalf by Philip Boardman
Treasurer of the Board of Trustees
13
Annual Report 2024
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 page6, 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.
-
Grants are accounted for when receivable, measurable, entitled and there is probability of receipt.
-
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.
14
Annual Report 2024
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.
15
Annual Report 2024
Financial Statements
Bideford Town Band
1.5 Fixed assets
A. Capitalisation
All assets falling into the following categories are capitalised:
-
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.
-
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
-
a. Depreciation is charged on each main class of tangible assets as follows:
-
Charitable buildings (the Band room) are depreciated over 50 years on a straight-line basis.
-
Computer equipment and office fixtures and fittings are depreciated over three years on a straight-line basis.
-
The oldest instruments (purchased before December 2019) are depreciated over five years on a straight-line basis.
-
New instruments (from 2021) are depreciated over ten years on a straight-line basis.
-
b. Each equipment asset is depreciated over its expected useful life.
-
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.
16
Annual Report 2024
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.
17
Annual Report 2024
Financial Statements
Bideford Town Band
| 2. Income | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Year ended 31 | Year ended 31 | |
| Funds | Funds | December 2024 | December 2023 | |
| £ | £ | £ | £ | |
| 2.1 Donations, grants & legacies | ||||
| Donations and Grants | 2,554 | 6,550 | 9,104 | 4,592 |
| Contest sponsorship | - | - | - | 128 |
| Communityfundraising | 2,195 | - | 2,195 | 3,435 |
| Total | 4,749 | 6,550 | 11,299 | 8,155 |
| 2.2 Charitable activities | ||||
| Engagements,Contests and CD Sales | 6,058 | - | 6,058 | 4,079 |
| Total | 6,058 | - | 6,058 | 4,423 |
| Other income | ||||
| Sundryincome | 440 | - | 440 | 32 |
| Total | 440 | - | 440 | 32 |
| Investment income – interest received | 586 | - | 586 | 433 |
| Other Trading activity – Hire of Band room | 1,170 | - | 1,170 | 1,170 |
| Total income | 13,003 | 6,550 | 19,553 | 14,213 |
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.
3. Expenditure
| 3. Expenditure | ||||
|---|---|---|---|---|
| Year ended | Year ended 31 |
|||
| Unrestricte | Restricted | 31 December | December 2023 |
|
| d Funds | Funds | 2024 | ||
| 3.1 Cost of raising funds | £ | £ | £ | £ |
| Costs of fundraisingevents and raffles | 681 | - | 681 | 407 |
| Total cost ofgenerating voluntary income | 681 | - | 681 | 407 |
| 3.2 Charitable activities | ||||
| Fees and expenses for contests and | ||||
| engagements | 20,189 | 3,497 | 23,686 | 34,417 |
| Music and maintenance of | 3,332 | 989 | 4,321 | 3,773 |
| Cost of CD production (adjusted for | 92 | - | 92 | 41 |
| k) | ||||
| Total cost of charitable activity | 23,613 | 4,486 | 28,099 | 38,231 |
| Total Expenditure | 24,294 | 4,486 | 28,780 | 38,638 |
18
Annual Report 2024
Financial Statements
Bideford Town Band
| 4. Resources Expended | |||
|---|---|---|---|
| Direct | Support | ||
| Year ended 31.12.2024 | costs | costs | Total |
| Cost of raising funds | £ | £ | £ |
| Costs of fundraising events and raffles | 681 | - | 681 |
| Total cost ofgenerating voluntary income | 681 | - | 681 |
| Charitable activities | |||
| Fees and expenses for contests and engagements | 5,893 | 17,793 | 23,686 |
| Music and maintenance of instruments | 1,075 | 3,246 | 4,321 |
| Cost of CD production (adjusted for stock) | 23 | 69 | 92 |
| Total cost of charitable activity | 6,991 | 21,108 | 28,099 |
| Total Expenditure | 7,672 | 21,108 | 28,780 |
| 4. Resources Expended | |||
| Direct | Support | ||
| Year ended 31.12.2023 | costs | costs | Total |
| Cost of raising funds | £ | £ | £ |
| Costs of fundraising events and raffles | 407 | - | 407 |
| Total cost ofgenerating voluntary income | 407 | - | 407 |
| Charitable activities | |||
| Fees and expenses for contests and engagements | 6,705 | 27,712 | 34,417 |
| Music and maintenance of instruments | 735 | 3,038 | 3,773 |
| Cost of CD production (adjusted for stock) | 8 | 33 | 41 |
| Total cost of charitable activity | 7,448 | 30,783 | 38,231 |
| Total Expenditure | 7,855 | 30,783 | 38,638 |
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 to be 0% of usage (2023: 0%) and Charitable activities estimated at 100% of the usage during 2024 (2023: 100%).
5. Trustees expenses and remuneration
None of the Trustees received any remuneration from the Charity during the current or previous financial year.
19
Annual Report 2024
Financial Statements
Bideford Town Band
6. Tangible fixed assets
| 6. Tangible fixed assets | ||||
|---|---|---|---|---|
| Computer | ||||
| Building | equipment | Instruments | Total | |
| £ | ||||
| Cost | ||||
| Balance as at 1 January 2024 | 145,000 | 41,643 | 81,022 | 260,665 |
| Additions | - | - | 5,699 | 5,699 |
| Balance as at 31 December 2024 | 145,000 | 41,643 | 86,721 | 266,364 |
| Depreciation | ||||
| Balance as at 1 January 2024 | 14,500 | 37,964 | 20,823 | 73,287 |
| Depreciation charge for theperiod | 2,900 | 3,679 | 7,487 | 14,066 |
| Balance as at 31 December 2024 | 17,400 | 41,643 | 28,310 | 87,353 |
| Net Book Value | ||||
| At 31 December 2024 | 127,600 | - | 51,411 | 179,011 |
| At 31 December 2023 | 130,500 | 3,679 | 60,199 | 187,378 |
The building (the Band room) was purchased in 2011 for £145,000. The legal title to the property was previously held by four nominee trustees but has now been transferred to the registered charity (completed May 2023).
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 | 31 | |
| December | December | |
| 2024 | 2023 | |
| £ | £ | |
| Trade Debtors (Engagements) | 97 | 75 |
| Prepayments | 468 | 468 |
| Other Debtors | - | - |
| Total debtors falling due within oneyear | 565 | 543 |
8. Analysis of net assets between funds
| 8. Analysis of net assets between funds | |||||
|---|---|---|---|---|---|
| 2024 Total | 2023 Total | ||||
| Unrestricted | Restricted | Funds | Funds | ||
| General | Designated | ||||
| £ | £ | £ | £ | £ | |
| Fund balances at 31 December 2024 are | |||||
| represented by: | |||||
| Tangible fixed assets | - | 179,011 | - | 179,011 | 187,378 |
| Current assets and liabilities | 45,066 | - | 2,064 | 47,130 | 47,990 |
| Total net assets | 45,066 | 179,011 | 2,064 | 226,141 | 235,368 |
20
Annual Report 2024
Financial Statements
Bideford Town Band
9. Charity funds
Movement for the year ended 31 December 2024
| Balance 1 | Transfers | Balance 31 | |||
|---|---|---|---|---|---|
| January | Incoming | Resources | between | December | |
| 2024 | Resources | Expended | Funds | 2024 | |
| £ | £ | £ | £ | £ | |
| 9.1 Restricted funds | |||||
| Bideford Town Council Grant | - | 2,000 | (2,000) | - | - |
| Bideford Rotary Club | - | 250 | - | - | 250 |
| Balsdon Trust Grant | - | 1,000 | (689) | - | 311 |
| Torridge District Council | |||||
| - Cllr Gubb Community Grant | - | 300 | (300) | - | - |
| Torridge District Council | |||||
| - Cllr Johns Community Grant | - | 500 | (500) | - | - |
| Bideford Bridge Trust | - | 2,500 | (997) | - | 1,503 |
| Total Restricted Funds | - | 6,550 | (4,486) | - | 2,064 |
| 9.2 Unrestricted funds | |||||
| General funds | 47,990 | 13,003 | (10,228) | (5,699) | 45,066 |
| 9.3 Designated fund: | |||||
| Fixed Asset Fund | 187,378 | - | (14,066) | 5,699 | 179,011 |
| Total unrestricted funds | 235,368 | 13,003 | (24,294) | - | 224,077 |
| Total funds | 235,368 | 19,553 | (28,780) | - | 226,141 |
Movement for the year ended 31 December 2023
| Balance 1 | Transfers | Balance 31 | |||
|---|---|---|---|---|---|
| January | Incoming | Resources | between | December | |
| 2023 | Resources | Expended | Funds | 2023 | |
| £ | £ | £ | £ | £ | |
| 9.1 Restricted funds | |||||
| Bideford Town Council Grant | - | 2,000 | (2,000) | - | - |
| Torridge District Council Grant | - | 592 | (592) | - | - |
| Bideford Bridge Trust | 2,000 | (2,000) | - | - | |
| Total Restricted Funds | - | 4,592 | (4,592) | - | - |
| 9.2 Unrestricted funds | |||||
| General funds | 54,861 | 9,621 | (9,236) | (7,256) | 47,990 |
| 9.3 Designated fund: | |||||
| Fixed Asset Fund | 204,932 | - | (24,810) | 7,256 | 187,378 |
| Total unrestricted funds | 259,793 | 9,621 | (34,046) | - | 235,368 |
| Total funds | 259,793 | 14,213 | (38,638) | - | 235,368 |
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.
21
Annual Report 2024
Financial Statements
Bideford Town Band
9. Charity funds (continued)
| Restricted grants received during the Restricted funds |
year ended 31.12.2024: Amount |
|---|---|
| Fund Name Bideford Town Council Grant Bideford Rotary Club Balsdon Trust Grant Torridge District Council - Cllr Gubb Community Grant Torridge District Council - Cllr Johns Community Grant Bideford Bridge Trust |
£ Description of the nature and purpose of each fund 2,000 Towards Contest expenditure 250 Towards Lyres and accessories 1,000 Towards music 300 Towards music 500 Towards Academy tuition 2,500 Towards soundproofing of band room 6,550 |
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 (2023: none).
11. Related-party transactions
During the year none of the Trustees or parties related to them have been involved in any material transactions with Bideford Town Band (2023 - £nil).
There were no transactions with other entities in which Trustees of the Charity hold positions of authority.
22
Annual Report 2024
BIDEFORD TOWN BAND
Address for correspondence:
The Secretary, 6 Victoria Grove, Bideford, North Devon, EX39 2DN
Telephone: 01237 475653
Email: bandsecretary@bidefordtownband.co.uk