Charlty reglstratlon numb•r 1185786 NEW GENERATION COMMUNiff STEEL ORCHESTRA ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
NEW GENERATION COMMUNITYSTEEL ORCHESTRA CONTENTS Trustees, report stat6mentoffinaneAal aclivities Balance Sheet Notestothgfinana81 statements
NEWGENERATION COMMUNITY STEEL ORCHESTRA STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unr95tr1Gt•d Unregtrl¢tsd fund5 2023 Donations and legades ndlturn 8.250 5,128 Charltable ac*viti&s 7,900 5,126 Net Incomè for the y¢arf Net movement In funds 350 Fund balances at 1 January 2023 Fund balances a131 D&c8mr 2023 The statement of financial activitses include$ all gains and1055es recognised in the year. All income and expenLthture derf¥a from Continuing activitses.
NEWGENERATION COMMUNITY STEEL ORCHESTRA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng polkt¢s Charfty Infomiation New Generation Communty Steel Or¢hestra is a tharity with the goal of the advancemgnt of publlc educ811on In and appr8ciat¢on of the art and science of music including through the presentation of public concert8 and redtsls. 1.1 Roportlng perlod The charity prepares its finaal slatementsforthe yearended 31st December 2023. 1.2 A¢¢ountlng conventlon The finandal statements have been prepared in accordance with the charitys govgrnlng docurnenl, the Charities Act 2011, FRS 102 'The Financial Reportlng Standard appli¢able In the UK and Republic of Ireland. rFRS 102°) and the Charfties SORP "Accounung and Reportlng by Charitie$.' Slalement of Recommgnded Practlce appllcabl8 to ¢haritle$ pmparing Ih•ir acunIS in a¢¢ordanee with the Financial Report'ng Standard appll¢able in the UK and Republi¢ of IRland (FRS 102)" (effective 1 January 20191. The is a Publlc Benefrt Entty a8 defined by FRS 102. Thg financial statements have departed from the Charities (Aceounts arKI Report51 Rrylatlon¥ 2008 orly to the extent required to provlde a true and falr vlew. Th1$ departu has invofved followng the Statement of Recommended Practice for ¢harities applying FRS 102 ralher than the version of the Statement of Recommended Practice which is referred lo in the Regulations but vthich ha8 since been whhdrawn. The firtan¢ial Statements are prepared in sterfing, lCh is the fUtional Gurrerw of the cti. Monetary amounts in these financial stal8menls arg rOded to the nearest £. The financial statements have been prapared undor t1 hislortcal cosl convention, Imodified to include the revaluation of freehdd properties and to include investment properties and certain ffinanclal InstrentS at fair valuel. The prinapat a¢¢ounting policies adopted are set out below. 1.3 Golng concem At the time of approving the finarrial statements, the Trustees have a reasonable exp8Ctation that the ha5 adequate resourc8s to continu8 in op8ration81 existence for th8 foreseeable future. Thus the Trustees continue to adopt Ihe gOg concem basis of accounting in preparing the financial slalemenls. 1.4 Charltablo fundB Unrestricted fund8 are availablo for use at the discretion of the Tnths in furlheranGe of their charit*Jle owtives. Restricted funds are subject to specffic condltlons by dorS as to how they may be used. The purposes and uses of the r&6tricted funds ar8 s61 out In the r19$ to the finandal statements. EndOWrfttfurKlS are 8ubject lo spedfic condltions by donors thatthg Capitsl must bg mawilained by Ihe . 1.6 Incomg Incom8 is recognis8d when th8 is 18g8lly entilled to it after any perfomiance conditions have been met. the amounts be rneasu reliabty, and it IS Probable that income will b& recefved. Ca8h donatlons are recognlsed on recelpl. Other donations are recognised once the has been rtified of thg donation, unless perfomance conditions require deferral of tho amount. Income tax recoverable in relatton to donationB received under Gift or deeds of cov8nanl is recognisgd * the time of the don8tion.
NEW GENERATION COMMUNITY STEEL ORCHESTRA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Critlcal accountSng estlmates and judgomonts In tho application of the 's arxountlng F>oIiGigs, the Trustees are required to make judgements. estrmates and assumptions about the carying amount of ass915 and liabilities that are not readily apparent from other sources. The estimates and associaled assumpts'ons are base¢J on historical experierKe and other f*ors that are considered to be relevant. Actual results may differ from these estimate5. The esllmales and underfying assumptions are revigwod on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate Is rsed where the revision affects only that period, or In the perfod of the revlsion and future 0d5 where the revlslon affects Ix)th current and future period Donatlons and leg•cl Unm rlctsd Unrestricted lund3 2023 2022 Donations and gifts 6,200 5.126 Charltable actlvitles Fundriblng Fundralslng events èvents 2023 FurKlraisng everts 2.050 5,128 None ofthe TTUStee8 (or any persons o)nnected with them) recèived any remuneration or beneffts from thè ring the year. Employees The average monthly number ofemployee8 during the yearwa8.' 2023 2022 Number Nun ¢r Therewere no employeas vthose annual remuneratlon was more than £60,000.