# **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 ASSETS**less 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