THE CHOIR CHURCH FOUNDATION
CHARITY REGISTRATION NO. 1193985
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
CONTENTS
| Trustees, Officers and Advisers | 2 |
|---|---|
| Trustees’ Report | 3 - 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 11 |
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THE CHOIR CHURCH FOUNDATION – NO. 1193985 REFERENCE AND ADMINISTRATIVE INFORMATION
ADDRESS
East Crypt, St George in the East,14 Cannon Street Road, London, E1 0BH
TRUSTEES
The Rev Prebendary Richard Springer [Chair] The Rev Canon Angus Ritchie Nigel Bamping [Secretary and Treasurer] Canon Dr Paula Gooder
BANKERS
CAF Bank Ltd
25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ
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THE CHOIR CHURCH FOUNDATION – NO. 1193985 TRUSTEES’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees submit their report and the financial statements for the year ended 31 August 2024. The information on page 2 forms part of this report.
The financial statements comply with current legal requirements, the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charity’s governing documents.
OBJECTS AND ACTIVITIES
The Choir Church Foundation is a Charitable Incorporated Organisation [CIO], administered in accordance with the Constitution dated 31 March 2021, whose objects are to advance the Christian Faith for the benefit of the public by:
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education of the public, and in particular young people, in all aspects of music relevant to the conduct of Christian worship, and the choral traditions of the Christian Church in particular; or
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promotion of the study, practice and performance of music in general, and music relevant to the conduct of Christian worship in particular.
PUBLIC BENEFIT
The Trustees have considered the public benefit guidance published by the Charity Commission. In their opinion the activities the Foundation has carried out as described in its objectives and policies comply with the requirements of the Charities Act 2011.
The Foundation provides advice and assistance in the setting-up and running of choirs, entitled Choir Churches, in educational establishments, usually in association with local churches, for the education and well being of young people and the local community.
REVIEW OF THE PERIOD
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The Foundation established in 2021 grew out of the original ‘Choir Church’ established by the Parish of St George in the East, Shadwell and St Paul’s Church of England Primary School, Whitechapel.
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In late 2023 Tom Daggett, who led the music outreach work at St Paul’s Cathedral and who established the Shadwell Choir Church, moved to become the Director of Music at Sheffield Cathedral. His successor at St Paul’s, Will Bruce took on the running of Choir Church, Shadwell. At that time it was agreed that he would be paid by St George in the East. Consequently, the donation from the Worshipful company of Plaisterers, to support the work in Shadwell has during the current financial year has been paid to St George in the East, not the Foundation. Choir Church Shadwell has continued to thrive under Will Bruce’s leadership.
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A donation was received into the Restricted Fund from the Worshipful Company of Parish Clerks for the benefit of Choir Church Shadwell and this was passed on to St George in the East.
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THE CHOIR CHURCH FOUNDATION – NO. 1193985 TRUSTEES’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED)
REVIEW OF THE PERIOD (CONTINUED)
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During the year the Foundation continued to provide advice and assistance to the Diocese of Blackburn following the establishing of Choir Churches in the Diocese during 2023. After some initial challenges, three Choir Churches were active in the diocese in 2024, with more planned for the academic year 202425. These Choir Churches will pay an affiliation fee to the Foundation.
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There have been encouraging developments elsewhere in England and Wales with Choir Churches active in one other parish in London, one at Worcester Cathedral and another in Exeter. Sadly, the one in Hereford has been suspended during a clergy interregnum.
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It has been encouraging to have further enquiries from churches in Ilkley (Leeds Diocese), Bulkington (Coventry Diocese), Danbury (Chelmsford Diocese) and Wrexham (Church in Wales). The Diocese of Portsmouth launched three Choir Churches in the diocese in July 2024 to commence in September 2024. They will be paying affiliation fees to the Foundation. Initial advice on the best way to set up a Choir Church has been provided to all those making enquiries.
GOVERNANCE AND MANAGEMENT
The Trustees have met once during the period under review (with regular contact being made by email) to oversee the current and future activities of the Foundation, maintain financial oversight and to consider requests by new Choir Churches for affiliation.
FINANCIAL REVIEW
A full breakdown of income and expenditure for the Accumulated Fund and the Restricted Fund is shown on page 6.
Total income for the period amounted to £2,168 (2023: £8,422).
Net expenditure for the period was £2,068 (2023: £7,946). At the period end there were total funds of £6,998 (2023: £6,898).
At the balance sheet date, the Foundation had free reserves of £5,590 (2023: £4,990) representing the balance carried forward as the Accumulated Fund. Although this amount can be expended at the discretion of the Trustees, funds are being accumulated in order to provide a capital base to generate sufficient income to meet the Foundation’s annual commitments.
The Foundation has net current assets of £6,998 (2023: £6,898) at the balance sheet date. Therefore, the Trustees are satisfied that the Foundation has sufficient resources to continue as a going concern for the foreseeable future.
PLANS FOR FUTURE PERIODS
Because the Foundation currently has limited resources, the Trustees intend to focus primarily on supporting existing Choir Churches and assisting the Diocese of Blackburn. The Trustees wish to establish a group of ambassadors and advisors to assist in growing the work of the Foundation and identifying additional sources of funding. It is intended to continue to hold regular online ‘learning community’ sessions to enable Choir Churches to share experiences, identify best practices and provide mutual suppor
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THE CHOIR CHURCH FOUNDATION – NO. 1193985 TRUSTEES’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (CONTINUED)
TRUSTEES RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Foundation and of the incoming resources and application of resources of the Foundation for that period. In preparing these financial statements the Trustees are required to:
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select suitable accounting policies and then apply them consistently,
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observe the methods and principles in the Charities SORP,
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make judgements and estimates that are reasonable and prudent,
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Foundation will continue to operate.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the financial statements comply with the Charities Act 2011, the Financial Reporting Standards (FRS 102) and the provisions of the Constitution.
They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees on 9[th] December 2024
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R Springer. Trustee
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THE CHOIR CHURCH FOUNDATION – NO. 1193985 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
| Note Income Donations Choir Affiliation Fees Interest receivable Total income Expenditure Support Costs for Charitable Activities Total expenditure Net income for the period Reconciliation of funds Net movement in funds for the period Total funds brought forward Total funds carried forward |
Accumulated Fund (unrestricted) 2024 Restricted Fund 2024 Total 2024 Accumulated Fund (unrestricted) 2023 Restricted Fund 2023 Total 2023 £ £ £ £ £ £ 1,250 - 1,750 2,350 6,000 8,350 750 - 750 168 - 168 72 - 72 |
|---|---|
| 2,168 - 2,168 2,422 6,000 8,422 1,568 500 2,068 3,854 4,092 7,946 |
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| 1,568 500 2,068 3,854 4,092 7,946 |
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| 600 (500) 100 (1,432) 1,908 6,422 |
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| 600 (500) 100 (1,432) 1,908 476 4,990 1,908 6,898 6,422 - 6,422 |
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| 5,590 1,408 6,998 4,990 1,908 6,898 |
The Foundation’s income and expenditure all relate to continuing operations.
The notes on pages 8 to 11 form part of these financial statements .
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THE CHOIR CHURCH FOUNDATION – NO. 11939985 BALANCE SHEET AS AT 31 AUGUST 2024
| Note Current Assets Cash at bank Debtors 2 Total Current Assets Liabilities Creditors falling due within one year 3 Net Current Assets Net Assets Accumulated Fund - Unrestricted Restricted Fund 4 |
2024 2023 £ £ 6,458 6,951 750 - |
|---|---|
| 7,208 6,951 210 53 |
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| 6,998 6,898 |
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| 6,998 6,898 |
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| 5,590 4,990 1,408 1,908 |
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| 6,998 6,898 |
The financial statements were approved by the Trustees on 9[th] December 2024
and signed on their behalf by:
………………………………. …………………………….. R Springer. Trustee N Bamping. Trustee
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THE CHOIR CHURCH FONDATION – NO. 1193985 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
1. ACCOUNTING POLICIES
The Choir Church Foundation is a Charitable Incorporated Organisation, and its principal address is East Crypt, St George in the East, London, E1 0BH.
a) Basis of Accounting
The financial statements are prepared in accordance with the historical cost basis. The financial statements have been prepared in accordance with applicable accounting standards, with the requirements of the Statement of Recommended Practice – Accounting and Reporting by Charities applicable to Charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been presented in sterling which is the functional currency of the Foundation. Monetary amounts in these financial statements are rounded to the nearest £1.
The Foundation has prepared its financial statements to give a ‘true and fair’ view and in doing so has departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to give a ‘true and fair’ view. This departure has involved following Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005, which has since been withdrawn.
The Foundation constitutes a public benefit entity as defined by FRS102.
b) Fund Accounting
Accumulated funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Foundation and which have not been designated for other purposes.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are subject to restrictions on their expenditure imposed by the donor.
c) Income
All income is included in the Statement of Financial Activities when the Foundation is entitled to the income, it is probable that the income will be received, and the amount can be measured reliably. The following specific policies are applied to particular categories of income:
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voluntary income is received by way of donations and legacies and is included in full in the Statement of Financial Activities when receivable. Legacies are accounted for when the Foundation is legally entitled to the income and the amount can be quantified with reasonable accuracy,
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Bank interest are included when receivable,
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income from activities for raising funds is accounted for when receivable
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THE CHOIR CHURCH FONDATION – NO. 1193985 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
d) Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred.
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Charitable expenditure comprises those costs incurred by the Foundation in the delivery of its activities and services for its beneficiaries.
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Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Foundation and include costs linked to the strategic management of the Foundation. These are treated as support costs within charitable expenditure.
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All costs are allocated directly between the expenditure categories of the SOFA.
e) Financial Instruments
The Foundation has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Foundation’s balance sheet when the Foundation becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
De-recognition of financial liabilities
Financial liabilities are de-recognised when the Foundation’s contractual obligations expire or are discharged or cancelled.
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THE CHOIR CHURCH FONDATION – NO. 1193985 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
f) Going Concern
The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements with respect to a period of at least one year from the date of approval of these financial. They have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the Foundation to continue as a going concern.
g) Critical Accounting Estimates and Judgements
In the application of the Foundation’s 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 on-going 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.
h) Cash at Bank and in Hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2. DEBTORS
| Accrued Income | 2024 2023 £ £ 750 - |
|---|---|
| 750 - |
3. CREDITORS: amounts falling due within one year
| Accruals | 2024 2023 £ £ 210 53 |
|---|---|
| 210 53 |
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THE CHOIR CHURCH FONDATION – NO. 1193985 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
4. RESTRICTED FUNDS
| Period ended 31 August 2023: The Worshipful Company of Plaisterers The Worshipful Company of Parish Clerks |
Received in the year 2024 Charitable expenditure 2024 Balances at 31 August 2024 Received in the year 2023 Charitable expenditure 2023 Balances at 31 August 2023 £ £ £ - - 1,408 5,500 (4,092) 1,408 - (500) - 500 - 500 |
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| - (500) 1,408 6,000 (4,092) 1,908 |
The Worshipful Company of Plaisterers made donations towards specified purposes within the objects of the Foundation. These have been applied to those purposes during the period.
5. RELATED PARTY TRANSACTIONS
The Rev’d Prebendary Richard Springer and the Rev’d Canon Angus Ritchie are clergy licenced to the Parish of St George in the East which made an initial grant to enable the establishment of the Foundation.
Mr. Nigel Bamping is Clerk Emeritus of the Worshipful Company of Plaisterers which has made historic donations to the Foundation.
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