Charity registration number: 1201790 Company registration number : CE031289 ## The Caldicot Male Voice Choir Annual Report and Financial Statements for the period from 31 January 2023 to 31 March 2024 ## **The Caldicot Male Voice Choir** ## **Contents (continued)** |**Contents (continued)**|| |---|---| |Reference and Administrative Details|1| |Trustees' Report|2 to 3| |Statement of Trustees' Responsibilities|4| |Independent Examiner's Report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes to the Financial Statements|8 to 15| ## **The Caldicot Male Voice Choir** ## **Reference and Administrative Details** **Chairman** G Hughes (appointed 31 January 2023) **Vice Chairman** J Nicholson (appointed 31 January 2023) **Trustees** A Yearsley (appointed 31 January 2023) L Gauntlett (appointed 31 January 2023) G Hughes (appointed 31 January 2023) A Griffiths (appointed 31 January 2023) S Hawkes (appointed 20 November 2023) P Thomas (appointed 20 November 2023) C Richards (appointed 31 January 2023) L Jones (appointed 31 January 2023) J Nicholson (appointed 31 January 2023) K Cooper (appointed 31 January 2023) R Stallard (appointed 31 January 2023, resigned 20 November 2023) R Matthews (appointed 31 January 2023, resigned 9 April 2024) G Morton (appointed 31 January 2023, resigned 20 November 2023) **Secretary** K Cooper (appointed 31 January 2023) **Treasurer** R Matthews (appointed 31 January 2023, resigned 4 April 2023) A Yearsley (appointed 4 April 2023) **PRO** L Gauntlett (appointed 31 January 2023) **Charity Registration Number** 1201790 **Principal Office** Caldicot Choir Hall Mill Lane Caldicot Monmouthshire NP26 4BN **Independent Examiner** G W Jones & Co Office 1 The Coach House 24-26 Station Road Shirehampton Bristol BS11 9TX Page 1 ## **The Caldicot Male Voice Choir** ## **Trustees' Report** The trustees present the annual report together with the financial statements of the charity for the period ended 31 March 2024. ## **Objectives and activities** ## _**Objects and aims**_ The objects of the choir are to advance the education of the public in the understanding of the musical arts, in particular choral music, by the presentation of concerts and similar activities. In furtherance of these objects:- - To co-operate with Local Authorities, Educational Institutions and Cultural Societies. - To raise funds by means of subscriptions, donations, grants and other lawful means. - To do all such other things as are necessary for the attainment of the foregoing objects. ## _**Objectives, strategies and activities**_ The objective of the choir is to promote choral singing in four part harmony maintaining a traditional Welsh influence. Our strategy for meeting the objective is to rehearse for 2 hours, twice a week and perform between one and two concerts a month, both locally and further afield. Locally we provide choral singing for the community and by promoting the local area through England, Wales and further afield. We also work with local schools to provide them with opportunities to learn about the tradition of Welsh choral music. ## _**Public benefit**_ In shaping the objectives for the period and planning activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance "Public Benefit: running a charity (PB2)" The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. ## **Achievements and performance** In this reporting year the Choir have been engaged in their own Annual Concerts held in the Choir Hall, we have been visited by 3 touring choirs in Muntra Musikanter, Minehead MVC and Dursley MVC and we have participated in two outings to local schools in support of their own Eisteddford events. Of note it was the Choir 60th Anniversary dinner and concert held in the Choir Hall in September. The Choir continue to support charity and corporate events both locally and farther afield to help fundraise and advertise events for good causes. Rehearsals in preparation for the Welsh Association of Male Choirs Royal Albert Hall massed choir concert in April 2024 have also been well attended by the Choir. ## **Financial review** Following a donation from our trading subsidiary, the charity made a surplus of £88,882 during the period. At the period end, unrestricted reserves stood at £88,882 and restricted reserves were £Nil. During the period, one of our music team who only received travel expenses retired from the choir. The trustees spent several months trying to locate a replacement under similar terms, however we were unsuccessful. We therefore had to bring a professional musician on board at a significantly increased cost in January 2024. We therefore expect our base costs to increase in the next financial year. We have increased member subscriptions to contribute to this and the trustees continue to explore other ways to raise funds. The trustees believe that we have sufficient funds to continue operating for at least 12 months. Page 2 ## **The Caldicot Male Voice Choir** ## **Trustees' Report (continued)** ## **Structure, governance and management** ## _**Nature of governing document**_ The Caldicot Male Voice Choir is a registered Charitable Incorporated Organisation governed by its constitution dated 11 January 2023. The Charity was established on the 31 January 2023 following the agreement of the members The Caldicot Male Voice Choir (Registered Charity Number: 512834) to a Charitable Incorporated Organisation. All assets and liabilities held by The Caldicot Male Voice Choir (Registered Charity Number: 512835) were transferred to the Charity with an effective date of 1 April 2023 as agreed upon at a Trustees meeting. The Trustees must be elected from members of the choir at an AGM and there must be between 6 and 11 Trustees at any one time. There are 5 office positions who are elected for a 3 year term, and 6 ordinary trustees elected for a 1 year term. Membership of the choir is made up as follows: - - Choristers - any male over the age of 18 who passes a voice test. - Designated position - any person not a chorister that the trustees select, e.g. Musical Director. - Vice President - any other person who is interested in supporting the objects of the choir. ## **Financial instruments** ## _**Objectives and policies**_ The Trustees have examined the major risks to which the charity is exposed and systems have been set up to mitigate these risks. These procedures will be reviewed periodically to make sure that they still meet the needs of the charity. The annual report was approved by the trustees of the charity on 31 October 2024 and signed on its behalf by: ......................................... G Hughes Chairman and trustee Page 3 ## **The Caldicot Male Voice Choir** ## **Statement of Trustees' Responsibilities** The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the trustees of the charity on 31 October 2024 and signed on its behalf by: ......................................... G Hughes Chairman and Trustee Page 4 ## **The Caldicot Male Voice Choir** ## **Independent Examiner's Report to the trustees of The Caldicot Male Voice Choir** I report to the trustees on my examination of the accounts of The Caldicot Male Voice Choir for the year ended 31 March 2024. ## **Responsibilities and basis of report** As the charity trustees of The Caldicot Male Voice Choir you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the The Caldicot Male Voice Choir's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of The Caldicot Male Voice Choir as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ...................................... A W Jones Association of Chartered Certified Accountants Office 1 The Coach House 24-26 Station Road Shirehampton Bristol BS11 9TX Date: 1 November 2024..... Page 5 ## **The Caldicot Male Voice Choir** ## **Statement of Financial Activities for the Period from 31 January 2023 to 31 March 2024** ||**Unrestricted**
**Total**| |---|---| ||**funds**
**2024**| |**Note**|**£**
**£**| |**Income and Endowments from:**|| |Charitable activities|146,813
146,813| |Investment income
3|412
412| |Other income|4,143
4,143| |Total income|| ||151,368
151,368| |**Expenditure on:**|| |Charitable activities|(62,486)
(62,486)| |Total expenditure|| ||(62,486)
(62,486)| |Net income|| ||88,882
88,882| |Net movement in funds|| ||88,882
88,882| |**Reconciliation of funds**|| |Total funds carried forward
15|| ||88,882
88,882| All of the charity's activities derive from continuing operations during the above period. The notes on pages 8 to 15 form an integral part of these financial statements. Page 6 ## **The Caldicot Male Voice Choir** ## **(Registration number: 1201790) Balance Sheet as at 31 March 2024** ||**2024**| |---|---| |**Note**|**£**| |**Fixed assets**|| ||| |Tangible assets
10|6,983| |Investments
11|1| ||6,984| |**Current assets**|| ||| |Debtors
12|20,567| |Cash at bank and in hand
13|64,870| ||85,437| |**Creditors: Amounts falling due within oneyear**
14|| ||(3,539)| |**Net current**assets|| ||81,898| |**Net**assets|| ||88,882| |**Funds of the charity:**|| |**Unrestricted income funds**|| ||| |Unrestricted funds|88,882| |**Total funds**
15|| ||88,882| The financial statements on pages 6 to 15 were approved by the trustees, and authorised for issue on 31 October 2024 and signed on their behalf by: ......................................... A Yearsley Trustee The notes on pages 8 to 15 form an integral part of these financial statements. Page 7 ## **The Caldicot Male Voice Choir** ## **Notes to the Financial Statements for the Period from 31 January 2023 to 31 March 2024** ## **1 Accounting policies** ## **Statement of compliance** The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. ## **Basis of preparation** The Caldicot Male Voice Choir meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. ## **Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. ## **Income and endowments** Income including donations, membership, trips and social events or is of a general nature is recognised when the charity has entitlement to that income, it is probable that the income will be received and the amount can be measured with sufficient reliability. ## **Expenditure** All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, and depreciation charges allocated on the portion of the asset’s use. ## **Charitable expenditure** Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **Support costs** Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. ## **Governance costs** These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Page 8 ## **The Caldicot Male Voice Choir** ## **Notes to the Financial Statements for the Period from 31 January 2023 to 31 March 2024 (continued)** ## **Taxation** The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **Tangible fixed assets** Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. ## **Depreciation and amortisation** Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: **Asset class Depreciation method and rate** Fixtures and fittings 25% straight line ## **Fixed asset investments** Fixed asset investments, are included at cost at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their cost at the start of the period, and are charged or credited to the Statement of Financial Activities in the period of disposal. ## **Trade debtors** Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Page 9 ## **The Caldicot Male Voice Choir** ## **Notes to the Financial Statements for the Period from 31 January 2023 to 31 March 2024 (continued)** ## **Trade creditors** Are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. ## **Fund structure** Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. ## **2 Income from charitable activities** |**2**
**Income from charitable activities**||| |---|---|---| ||**Unrestricted**|| ||**funds**|**Total**| ||**General**|**2024**| ||**£**|**£**| |Donations|94,850|94,850| |Gift aid|4,408|4,408| |Membership|9,260|9,260| |Social events|7,464|7,464| |Concerts|1,715|1,715| |Trips|27,343|27,343| |Other income|1,773|1,773| ||146,813|146,813| A donation of £77,401 was received from The Caldicot Male Voice Choir (Registered Charity Number: 512835) on the 1 April 2023 as a result of all assets and liabilities held by that charity being transferred to The Caldicot Male Voice Choir (Registered Charity Number: 1201790). ## **3 Investment income** |**3**
**Investment income**|| |---|---| ||**Unrestricted**| ||**funds**
**Total**| ||**General**
**funds**| ||**£**
**£**| |Interest receivable and similar income;|| |Interest receivable on bank deposits|412
412| |**Total for period ended 31 March 2024**|| ||412
412| Page 10 ## **The Caldicot Male Voice Choir** ## **Notes to the Financial Statements for the Period from 31 January 2023 to 31 March 2024 (continued)** |**4**
**Other income**|| |---|---| ||**Unrestricted**| ||**funds**
**Total**| ||**General**
**funds**| ||**£**
**£**| |Hall hire|4,143
4,143| |**Total forperiod ended 31 March 2024**|| ||4,143
4,143| |**5**
**Expenditure on charitable activities**|| ||**Unrestricted**| ||**funds**
**Total**| ||**General**
**funds**| |**Note**|**£**
**£**| |Allocated support costs|61,174
61,174| |Governance costs|1,312
1,312| |**Total for period ended 31 March 2024**|| ||62,486
62,486| Page 11 ## **The Caldicot Male Voice Choir** ## **Notes to the Financial Statements for the Period from 31 January 2023 to 31 March 2024 (continued)** - **6 Analysis of governance and support costs** |**Charitable activities expenditure**|||| |---|---|---|---| ||**Unrestricted**||| ||**funds**||**Total**| ||**General**||**2024**| ||**£**||**£**| |Office & admin expenses||20,284|20,284| |Concert,trips and social event costs||40,890|40,890| |||61,174|61,174| |**Governance costs**|||| ||**Unrestricted**||| ||**funds**||**Total**| ||**General**||**2024**| ||£||£| |Independent examiners fee||1,200|1,200| |Legal fees||112|112| |||1,312|1,312| |**7 Net incoming/outgoing resources for the period include**:|||| ||||**2024**| ||||**£**| |Depreciation of fixed assets|||2,328| Page 12 ## **The Caldicot Male Voice Choir** ## **Notes to the Financial Statements for the Period from 31 January 2023 to 31 March** ## **2024 (continued)** ## **8 Trustees remuneration and expenses** During the period the charity made the following transactions with trustees: ## **G Hughes** G Hughes received remuneration of £Nil and £114 of expenses were reimbursed to G Hughes during the period. At the balance sheet date the amount due G Hughes was £Nil. **L Jones** L Jones received remuneration of £Nil and £100 of expenses were reimbursed to L Jones during the period. At the balance sheet date the amount due L Jones was £Nil. ## **9 Independent examiner's remuneration** **2024 £** **Other fees to examiners** The examination of charity accounts 1,200 ## **10 Tangible fixed assets** ||**Furniture and**|| |---|---|---| ||**equipment**|**Total**| ||**£**|**£**| |**Cost**||| |Additions|9,311|9,311| |At 31 March 2024|9,311|9,311| |**Depreciation**||| |Charge for theyear|2,328|2,328| |At 31 March 2024|2,328|2,328| |**Net book value**||| |At 31 March 2024|6,983|6,983| The Choir operates from its own practice hall. This was constructed in 1996 on land leased from Monmouthshire County Council under a 99 year lease commencing 1993. The build cost has been included as part of expenditure of the previous charity entity. The market value has not been included within the accounts. For insurance purposes the rebuild sum insured is £1.4 million. ## **11 Fixed asset investment** Shares in group undertakings and participating interests **2024 £** 1 Page 13 ## **The Caldicot Male Voice Choir** ## **Notes to the Financial Statements for the Period from 31 January 2023 to 31 March 2024 (continued)** **Shares in group undertakings and participating interests** |**Shares in group undertakings and participating interests**|||| |---|---|---|---| ||**Subsidiary**||| ||**undertakings**||**Total**| ||**£**||**£**| |**Cost**|||| |Additions||1|1| |At 31 March 2024||1|1| |**Net book value**|||| |At 31 March 2024||1|1| |**12**
**Debtors**|||| ||||**2024**| ||||**£**| |Trade debtors|||5,296| |Other debtors|||15,271| ||||20,567| |**13**
**Cash and cash equivalents**|||| ||||**2024**| ||||**£**| |Cash on hand|||105| |Cash at bank|||64,765| ||||64,870| |**14**
**Creditors: amounts falling due within one year**|||| ||||**2024**| ||||**£**| |Trade creditors|||2,188| |Other creditors|||1| |Accruals|||1,350| ||||3,539| |**15**
**Funds**|||| Page 14 ## **The Caldicot Male Voice Choir** ## **Notes to the Financial Statements for the Period from 31 January 2023 to 31 March 2024 (continued)** ||**Incoming**|**Resources**|**Balance**|**at 31**| |---|---|---|---|---| ||**resources**|**expended**|**March**|**2024**| ||**£**|**£**|**£**|| |**Unrestricted funds**||||| |**_General_**||||| |General|151,368|(62,486)||88,882| ## **16 Analysis of net assets between funds** |**16**
**Analysis of net assets between funds**|||| |---|---|---|---| ||**Unrestricted**|**Total funds**|**at 31**| ||**funds**|**March**|| ||**General**|**2024**|| ||**£**|**£**|| |Tangible fixed assets|6,983||6,983| |Fixed asset investments|1||1| |Current assets|85,437|85,437|| |Current liabilities|(3,539)|(3,539)|| |Total net assets|88,882|88,882|| ## **17 Related party transactions** During the period the charity made the following related party transactions: **R Powell** (Chorister) During the period, purchases and expenses incurred on behalf of the charity totalling £54.94 were paid to R Powell. At the balance sheet date the amount due to/from R Powell was £Nil. **CMVC Limited** (Company in which the charity owns 100% of the issues share capital) During the period, costs totalling £1,748 were recharged (at arms length and under normal trading conditions) to CMVC Limited. A donation of £9,949 was made from the CMVC Ltd to the charity as at the period end. . At the balance sheet date the amount due from CMVC Limited was £11,697. **S Gould** (Music team) During the period, expenses totalling £1,440 were paid to S Gould. At the balance sheet date the amount due to S Gould was £252. **S James** (Music Team) During the period, expenses totalling £2,286.90 were paid to S James. At the balance sheet date the amount due to S James was £218. Page 15 ## **The Caldicot Male Voice Choir** ## **Statement of Financial Activities by fund for the Period from 31 January 2023 to 31 March 2024** ||**Total**| |---|---| ||**Unrestricted**| ||**Funds**| ||**2024**| ||**£**| |**Income and Endowments from:**|| |Charitable activities|146,813| |Investment income|412| |Other income|4,143| |Total income|| ||151,368| |**Expenditure on:**|| |Charitable activities|(62,486)| |Total expenditure|| ||(62,486)| |Net income|| ||88,882| |**Reconciliation of funds**|| |Total funds carried forward|| ||88,882| This page does not form part of the statutory financial statements. Page 16 ## **The Caldicot Male Voice Choir** ## **Detailed Statement of Financial Activities for the Period from 31 January 2023 to 31 March 2024** ||**Total**| |---|---| ||**2024**| ||**£**| |**Income and Endowments from:**|| |Charitable activities (analysed below)|146,813| |Investment income (analysed below)|412| |Other income(analysed below)|4,143| |Total income|| ||151,368| |**Expenditure on:**|| |Charitable activities(analysed below)|(62,486)| |Total expenditure|| ||(62,486)| |Net income|| ||88,882| |**Reconciliation of funds**|| |Total funds carried forward|| ||88,882| This page does not form part of the statutory financial statements. Page 17 ## **The Caldicot Male Voice Choir** ## **Detailed Statement of Financial Activities for the Period from 31 January 2023 to 31 March 2024 (continued)** ||**Total**| |---|---| ||**31 January 2023**| ||**to 31 March 2024**| ||**£**| |**_Charitable activities_**|| |Appeals and donations|94,850| |Gift Aid tax reclaimed|4,408| |Membership|9,260| |Social events|7,464| |Concerts|1,715| |Trips|27,343| |Other income|1,773| ||146,813| |**_Investment income_**|| |Interest on cash deposits|412| ||412| |**_Other income_**|| |Hall hire|4,143| ||4,143| |**_Charitable activities_**|| |Rent|(1,140)| |Rates|(433)| |Water rates|(1,693)| |Light, heat and power|(4,173)| |Insurance|(1,816)| |Repairs and maintenance|(4,839)| |Telephone and fax|(837)| |Computer software and maintenance costs|(95)| |Printing, postage and stationery|(1,327)| |Licences and permits|(359)| |Cleaning|(671)| |Travel and subsistence|(145)| |Bad debts written off|(180)| |Bank charges|(218)| |Depreciation of fixtures and fittings|(2,328)| |Music|(552)| |Music team|(7,027)| |Concert costs|(473)| |Trip costs|(26,639)| |Social event costs|(6,199)| This page does not form part of the statutory financial statements. Page 18 ## **The Caldicot Male Voice Choir** ## **Detailed Statement of Financial Activities for the Period from 31 January 2023 to 31 March 2024 (continued)** ||**Total**| |---|---| ||**31 January 2023**| ||**to 31 March 2024**| ||**£**| |Fundraising expenses|(30)| |Independent examiner's fee|(1,200)| |Legal andprofessional fees|(112)| ||(62,486)| This page does not form part of the statutory financial statements. Page 19