**ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **GEORGE'S ROCKSTARS**
(Charitable Incorporated Organisation)
## **Charity Registration No: 1188730 GEORGE'S ROCKSTARS**
(Charitable Incorporated Organisation)
||Contents|
|---|---|
||Page|
|Legal & Administratve Informaton|3|
|Trustees' Report|4 - 5|
|Statement of Financial Actvites|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 - 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** 1[st] January 2023 **END OF FINANCIAL YEAR** 31st December 2023
**TRUSTEES AT 31ST DECEMBER 2023** Craig O'Shaughnessy Dean Piper Mark Robinson Maisie Lawrence Daniel Ash Katie Louise Biginton Nicola Caton
**LEGAL STATUS** Charitable Incorporated Organisation **GOVERNING INSTRUMENT** CIO - Foundation Registered 24th March 2020
## **OBJECTIVES**
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 Limited TB4 Tapnage Farm Titchfield Lane Fareham Hampshire PO17 5PQ
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## **GEORGE'S ROCKSTARS**
(Charitable Incorporated Organisation)
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **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 this report, the charity had a self-employed charity manager and three self-employed music therapists providing sessions in hospitals in Winchester, Portsmouth, Basingstoke and one ward at Southampton Children hospital, with a waiting list of additional wards at Southampton.
All monies raised for George’s Rockstars are donations from fundraising activities, donations, grants or
from the 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 £130,426 through fundraising events, financial grants and donations.
The main fundraising events for the charity were the annual charity ball which raised £6,537, the annual Christmas tree collection organised by a trustee which raised £2,637, the annual live music fundraiser for George’s birthday in January that raised £1,488 and a further live music event held in October raising £750. There were sponsored events including the Spinnaker Tower abseil which raised £4,438, the 3 Peaks Challenge in July that raised £12,400 and the Great South Run in October raising £1,405.
The charity released its first charity Christmas single, “Let’s make Christmas Loud”, written by one of the trustees, which through record downloads and t-shirt sales raised £3015.55
The charity was also supported by local organisations own fundraising efforts including a raffle held by Southsea Nature Nursery raising £650, the Rock Project raffle raising £500, Southdown’s Chorus donation of £500 and Ernie’s fundraiser of £500.
Support also came from two local music festivals, namely, “Teddy Rocks” who gave donations of £20,000 during the year and from the “Wickham Festival” who donated £1,966 from the signed guitar raffle.
The charity also expanded the income streams and began applying for financial grants. BBC Children in Need awarded a core funding grant of £13,886 per annum for two years from August 2023 to help facilitate the funding of a charity manager. The People’s Postcode Lottery awarded a grant of £20,000 for project costs.
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Smaller grants were also received during 2023 from Hampshire & Isle of Wight Community Fund (£5,000), The Albert Hunt Trust (£2,000), and St James Place Charity Foundation (£2,000).
George’s Rockstars has also secured a grant from Global’s Make Some Noise appeal of £21,500 to be received in April 2024. A donation of £20,000 was received just prior to the end of 2023 from a musician’s legacy fund that appears in the Restricted Funds category of the Balance Sheet as the purpose of this donation is to fund a new project providing music therapy at the Royal Alexandra Children’s Hospital in Brighton.
This fundraising has enabled the charity to expand the music therapy team going into 2024 to cover 2 new departments in Southampton Children’s Hospital with further expansion planned subject to financial review.
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 its 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 is to hold 4 months of current service provision to safeguard our service for our beneficiaries.
## **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:
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- 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 irregularities.
Approved by the Trustees on 10[th] January 2024
Signed on their behalf by Trustee
Printed Name Craig O’Shaughnessy
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## **GEORGE'S ROCKSTARS**
(Charitable Incorporated Organisation)
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023**
|**INCOMING RESOURCES**|**Notes**||Unrestricted|Restricted|TOTAL|TOTAL|
|---|---|---|---|---|---|---|
||||Funds|Funds|2023|2022|
|**Income from Generated Funds**|||£|£|£|£|
|Grants, Legacies & Donatons|||95,846|4,629|100,475|25,555|
|Actvites for Generatng Funds|||29,655|-|29,655|28,764|
|Investment Income (Interest)|||296|-|296|-|
|**TOTAL INCOMING RESOURCES**|||**125,797**|**4,629**|**130,426**|**51,319**|
|**RESOURCES EXPENDED**|||||||
|**Cost of Generatng Funds**|||||||
|Cost of Charitable Actvites||**3a**|97,589|**-**|97,589|54,702|
|Independent Examiners Fee||**3b**|-|-|-|216|
|**TOTAL RESOURCES EXPENDED**|||**97,589**|**-**|**97,589**|**54,918**|
|**NET INCOMING (OUTGOING) RESOURCES**|||**28,208**|**4,629**|**32,837**|**(3,599)**|
|Funds Brought Forward|||**43,710**|**-**|**43,710**|**29,333**|
|**TOTAL FUNDS CARRIED FORWARD**|||**71,918**|**4,629**|**76,547**|**25,734**|
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 8 to 12 form part of these financial statements.
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## **GEORGE'S ROCKSTARS**
(Charitable Incorporated Organisation)
## **BALANCE SHEET**
## **AS AT 31ST DECEMBER 2023**
||Unrestricted|Restricted|TOTAL|TOTAL|
|---|---|---|---|---|
||Funds|Funds|2023|2022|
||£|£|£|£|
|**Fixed Assets**|||||
|Tangible Assets|-|-|-|-|
|Investments|-|-|-|-|
|**Total Fixed Assets**|-|-|-|-|
|**Current Assets**|||||
|Debtors & Prepayments|3,100|-|3,100|-|
|Cash in Bank and in Hand|73,477|29,257|102,704|48,007|
|**Total Current Assets**|**76,547**|**29,257**|**105,804**|**48,007**|
|Creditors & Accruals|180|-|-|4,298|
|**Creditors: Amounts falling due within 1 year**|-|-|-|-|
|**NET CURRENT ASSETS**|76,267|29,257|105,624|43,710|
|**TOTAL ASSETS**less current liabilites|76,267|29,257|105,624|43,710|
|**Creditors: Amounts falling due in more than 1 year**|-|-|-|-|
|**NET ASSETS**|**76,267**|**29,257**|**105,624**|**43,710**|
|**Funds of the Charity**|||||
|General Funds|76,367|-|76,367|43,710|
|Restricted Funds|-|29,257|29,257|-|
|**TOTAL FUNDS**|**76,367**|**29,257**|**105,624**|**43,170**|
Approved by the Trustees on 10[th] January 2024
Signed on their behalf by Trustee
Printed Name Craig O’Shaughnessy
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## **GEORGE'S ROCKSTARS**
(Charitable Incorporated Organisation)
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **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**
## **Recogniton of Incoming Resources**
These are included in the Statement of Financial Activities (SOFA) when:
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- the charity becomes entitled to the resources;
- the trustees 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 & Donatons**
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## **Tax Reclaims on Donatons & Gifs**
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.
## **Gifs 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...
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## **GEORGE'S ROCKSTARS**
(Charitable Incorporated Organisation)
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES continued FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **Donated Services & Facilites**
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 voluntary help received 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 Recogniton**
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 preparation and examination of the statutory accounts.
## **Grants with Performance Conditons**
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 Conditons**
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. continued…
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## **GEORGE'S ROCKSTARS**
(Charitable Incorporated Organisation)
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES continued FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **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.
## **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 capitalized 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.
## **Depreciaton 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:
31st December 2022 - none
31[st ] December 2023 - none
continued...
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## **GEORGE'S ROCKSTARS**
(Charitable Incorporated Organisation)
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES continued FOR THE YEAR ENDED 31ST DECEMBER 2023**
|**3. RESOURCES EXPENDED**|**Unrestricted**|**Restricted**||**TOTAL**|**TOTAL**|
|---|---|---|---|---|---|
||**Funds**|**Funds**||**2023**|**2022**|
||**£**|**£**||**£**|**£**|
|**a) Cost of Charitable Actvites**||||||
|Actvites and Events|12,829||-|12,829|19,319|
|Administratve Expenses|22,608||-|22,608|850|
|Advertsing & Publicity|10,519||-|10,519|2,096|
|Accountancy Fees|703||-|703|-|
|Music Therapy Costs|48,360||-|48,360|30,550|
|Sundry Expense|2,570||-|2,570|1,886|
||**97,589**||**-**|**97,589**|**54,702**|
|**b) Governance Costs**||||||
|Independent Examiners Fee|-||-|-|216|
||**-**||**-**|**-**|**216**|
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## **GEORGE'S ROCKSTARS**
(Charitable Incorporated Organisation)
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES continued FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **3. STAFF COSTS AND NUMBERS**
The Charity employed no members of staff during this or the previous financial year.
## **4. 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.
## **5. 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.
## **6. 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 endeavor not to set aside funds unnecessarily.
## **7. 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.
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## **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 2023.
## **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:
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- examine the accounts under section 145 of the Charities Act.
- follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act.
- 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.
Date: 24/1/24
Reviewer: Ms A Salter
For: Ladies of Ledger Ltd
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