ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
Charity Registration No: 1188730
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
| Contents | |
|---|---|
| Page | |
| Legal & Administrative Information | 1 |
| Trustees' Report | 2 - 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 - 12 |
| Independent Examiner's Report | 13 |
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1188730 DATE OF REGISTRATION 24th March 2020 START OF FINANCIAL YEAR 23rd November 2021 END OF FINANCIAL YEAR 31st December 2022 TRUSTEES AT 31ST DECEMBER 2022 Craig O'Shaughnessy Dean Piper Mark Robinson Maisie Lawrence Daniel Ash LEGAL STATUS Charitable Incorporated Organisation GOVERNING INSTRUMENT CIO - Foundation Registered 24th March 2020
OBJECTS
To relieve the needs of Children and Teenagers who are seriously ill or have a life limiting illness/condition by funding the provision of therapies and activities, in particular, but not limited to, Music Therapy in Hospitals in the United Kingdom or in a setting appropriate to their condition.
CORRESPONDENCE ADDRESS 44 Lynn Crescent Fareham PO14 4FP PRIMARY BANKERS Natwest Bank PLC 250 Bishopsgate London EC2M 4AA INDEPENDENT EXAMINERS Ladies of Ledger Ltd 15 Old Turnpike Fareham PO16 7HB
Page 1
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2022
Objectives and Activities
To enhance the wellbeing of children and teenagers who are seriously ill or have a life limiting illness/condition by providing therapies and activities, in particular, but not limited to, music therapy in hospitals in the United Kingdom or in a setting appropriate to their condition.
At the date of the report, the charity had one self employed music therapist providing sessions in hospitals in Winchester, Portsmouth, Basingstoke and one ward at Southampton Children hospital, with a waiting list of additional wards at Southampton and a part time charity manager.
All monies raised for George’s Rockstars are donations from fundraising activities, donations or from sale of merchandise.
The trustees confirm that they have considered the Charity Commission’s guidance on public benefit.
Achievements and Performance
During the financial period of the report the charity raised £51,319.05, largely from fundraising events. The main fundraising events were the annual Xmas tree collection organised by a trustee which raised £1,737.75 from donations to the service. The annual live music fundraiser in January for George’s birthday that raised £2,337.83 from tickets, donations and sale of merchandise.
There were numerous sponsored events including skydives amounting to £8,998.75 combined, sponsored runs amounting £3,508.38 combined, sunflower secateur hire at a local farm raising £1,180.61, a craft stall at a festival raising £900, two local children’s sports clubs raising £2,000 and £478.50 from sponsored events. A local music quiz raising £570.90 across 3 quiz nights.
This fundraising has enabled the charity to grow from one to four hospitals across the region with the period of the report meaning we are reaching many more children across hospitals in our local region.
Moving forward next year we are looking to diversify our fundraising streams to include grants and corporate partnerships to ensure a sustainable future of the services we provide and help with future service growth to meet demand.
Financial Review
The charity holds it’s reserves according to policy with an additional balance from fundraising during COVID 19 when service provision and associated costs were limited.
The charities reserves policy hold 4 months of current service provision to safeguard our service for our beneficiaries.
continued…
Page 2
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
TRUSTEES' REPORT continued FOR THE YEAR ENDED 31ST DECEMBER 2022
Trustees' Responsibilities
The Charities Act 2011 requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the surplus (deficit) of the CIO for that period.
In preparing those financial statements the trustees are required to:
-
Select suitable accounting policies and apply them consistently
-
Make judgements and estimates that are reasonable and prudent
-
Prepare financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in existence.
The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the CIO. They are also responsible for safeguarding the assets of the CIO and hence taking reasonable steps for the prevention and detection of fraud and other irrgeularities.
29/06/2023 Approved by the Trustees on …...............................................................
Signed on their behalf by Trustee….........................................................
Craig O’Shaughnessy- Chair
Printed Name….......................................................................................
Page 3
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2022
| INCOMING RESOURCES Notes Incoming Rescources from Generated Funds Donations, Grants & Legacies 3a Activities for Generating Funds 3b Investement Income 3c Other Incoming Resources 3d TOTAL INCOMING RESOURCES RESOURCES EXPENDED Cost of Generating Funds Cost of Charitable Activities 4a Independent Examiners Fee 4b TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/21 2021/20 £ £ £ £ 22,555 22,555 48,165 28,764 28,764 1,324 - - - - - 1,992 |
|---|---|
| 51,319 - 51,319 51,481 |
|
| 54,702 54,702 21,668 216 216 480 |
|
| 54,918 - 54,918 22,148 |
|
| (3,599) - (3,599) 29,333 29,333 29,333 |
|
| 25,734 - 25,734 29,333 |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 6 to 12 form part of these financial statements.
Page 4
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
BALANCE SHEET AS AT 31ST DECEMBER 2022
| Notes Fixed Assets Tangiable Assets 2 Investments 6 Total Fixed Assets Current Assets Debtors & Prepayments 8 Cash in Bank and in Hand 7 Total Current Assets Creditors:Amounts falling due within 1 year 9 NET CURRENT ASSETS TOTAL ASSETSless current liabilities Creditors: Amounts falling due in more than 1 year 10 NET ASSETS Funds of the Charity General Funds Restricted Funds 5 Total Funds |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/21 2021/20 £ £ £ £ - - |
|---|---|
| - - - - |
|
| - - 2,207 48,007 48,007 46,281 |
|
| 48,007 48,007 48,488 |
|
| 4,298 4,298 480 43,710 43,710 48,008 |
|
| 43,710 43,710 48,008 - - - |
|
| 43,710 - 43,710 48,008 |
|
| 43,710 43,710 48,008 |
|
| 43,710 43,710 48,008 |
29/06/2023 Approved by the Trustees on …...............................................................
Signed on their behalf by Trustee….........................................................
Craig O’Shaughnessy- Chair
Printed Name….......................................................................................
Page 5
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of preparation & Assessment of Going Concern
Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
-
the charity becomes entitled to the resources;
-
the trustess are virtually certain they will receive the resources; and
-
the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants & Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations & Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services have been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
continued…
Page 6
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES continued FOR THE YEAR ENDED 31ST DECEMBER 2022
Donated Services & Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntry help recevied is not included in the accounts.
Investment Income
This is included on the accounts when receivable.
Investment Gains & Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Expenditure Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Accountancy Costs
Included costs of the preperation and exmination of the statutory accounts.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Unrestricted Funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the SOFA
Restricted Funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
continued…
Page 7
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES continued FOR THE YEAR ENDED 31ST DECEMBER 2022
Designated Funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings & Equipment 25% Straight Line Basis
2. TANGIBLE FIXED ASSETS
The CIO held no fixed assets during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 22nd November 2021 - none
31st December 2022 - none
Page 8
continued….
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES continued FOR THE YEAR ENDED 31ST DECEMBER 2022
3. INCOMING RESOURCES
| Note a) Donations, Grants & Legacies Gifts & Donations b) Activities for Generating Funds Fundraising Income c) Investement Income Interest d) Other Incoming Resources Refunds Sundry Income |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/21 2021/20 £ £ £ £ 22,555 22,555 48,165 |
|---|---|
| 22,555 - 22,555 48,165 |
|
| 28,764 28,764 1,324 |
|
| 28,764 - 28,764 1,324 |
|
| - - - |
|
| - - - - |
|
| - - 1,087 - - 905 |
|
| - - - 1,992 |
continued…
Page 9
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES continued FOR THE YEAR ENDED 31ST DECEMBER 2022
4. RESOURCES EXPENDED
| 4. RESOURCES EXPENDED | |
|---|---|
| Note a) Cost of Charitable Activities Activities & Events Administrative Expenses Advertising & Publicity Equipment Costs Music Therapy Costs Sundry Expenses b) Governance Costs Independent Examiners Fee 9 |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/21 2021/20 £ £ £ £ 19,319 19,319 5,367 850 850 60 2,096 2,096 1,632 - - 4,013 30,550 30,550 9,575 1,886 1,886 1,021 |
| 54,702 - 54,702 21,668 |
|
| 216 216 480 |
|
| 216 - 216 480 |
Page 10
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES continued FOR THE YEAR ENDED 31ST DECEMBER 2022
5. RESTRICTED FUNDS
The charity held no Restricted Funds during this or the previous financial period.
6. INVESTMENTS
The Charity held no Investments during this or the previous financial period.
7. CASH AT BANK AND IN HAND
| Unrestricted | Restricted | TOTAL | TOTAL | ||
|---|---|---|---|---|---|
| Funds | Funds | 2022/21 | 2021/20 | ||
| £ | £ | £ | £ | ||
| Cash at Bank & in Hand | 48,007 | 48,007 | 46,281 | ||
| 48,007 | - | 48,007 | 46,281 | ||
| 8. DEBTORS & PREPAYMENTS | |||||
| Unrestricted | Restricted | TOTAL | TOTAL | ||
| Funds | Funds | 2022/21 | 2021/20 | ||
| £ | £ | £ | £ | ||
| Sundry Debtors | - | - | 2,207 | ||
| - | - | - | 2,207 | ||
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| Unrestricted | Restricted | TOTAL | TOTAL | ||
| Funds | Funds | 2022/21 | 2021/20 | ||
| £ | £ | £ | £ | ||
| Indepentent Examiners Fee | 216 | 216 | 480 | ||
| Accounts Payable | 4,082 | 4,082 | |||
| 4,298 | - | 4,298 | 480 |
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The Charity held no long term liabilities during this or the previous financial period.
11. NET ASSETS BETWEEN FUNDS
| Fixed Assets Investments Net Current Assets Long Term Liabilities |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/21 2021/20 £ £ £ £ 43,710 48,008 |
|---|---|
| 43,710 - - 48,008 |
Page 11
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES continued FOR THE YEAR ENDED 31ST DECEMBER 2022
12. STAFF COSTS AND NUMBERS
The Charity employed no members of staff during this or the previous financial year.
13. TRUSTEE REMUNERATION & BENEFITS
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
Page 12
GEORGE'S ROCKSTARS
(Charitable Incorporated Organisation)
INDEPENDENT EXAMINERS REPORT ON THE ACCOUNTS
Report to the trustees / members of George's Rockstars on the accounts for the year ended 31st December 2022 set out on pages 6 to 12.
Respective Responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the account under section 145 of the Charities Act
-
follow the procedures laid downin the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
-
state whether particular matters have come to my attention
Basis of independent examiner's statement
During my examination, no matter has come to my attention which gives me reasonable cause to believe that the requirements to keep accounting records in accordance with section 130 of the Charities Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act, have not been met.
Ladies of Ledger 15 Old Turnpike Fareham PO16 7HB
Date: 27th June 2023
Page 13