Annual Report & Financial Statements For the year to 31 October 2023
Brunswick Vocal Arts (a company limited by guarantee)
Registered Charity - England & Wales No: 1202624
Company No: 14431143
Contents
| Contents | |
|---|---|
| Achievements & performance | 1 |
| Financial Review | 2 |
| Future Plans | 3 |
| Structure, Governance & Management | 3 |
| Reference & Administrative details | 3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | |
| (including Income & Expenditure account) | 5 |
| Balance Sheet | 5 |
| Notes to the fnancial statements | 7 |
Trustees’ Annual Report
For the year ended 31 October 2023
The trustees, who are the directors of the company for the purposes of company law, are pleased to present their report and financial statements together with the Independent Examiner’s report for the year ended 31 October 2023.
Objects & activities
Objects
For the public benefit, to advance the arts and education in England through the provision of performing opportunities alongside professional musicians, public workshops, and individual coaching sessions for classical singers, pianists and conductors in the final stages of their studies and/or the early stages of their careers; and through engagement with non-professional chorus singers from the wider community.
Activities during the year
In its first year of operation, Brunswick Vocal Arts has met the objectives as set out in its governing document through the following activities:
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it presented two large-scale, public performances with professional orchestra, the first benefiting six classical singer soloists, the second benefiting eight. Each of these received up to six hours of individual coaching from the charity’s artistic director in the weeks prior to their performance, a total of 49 hours. Both of these performances involved and benefited members of a community chorus (see below).
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it presented a vocal recital with piano, giving a young singer the opportunity to work with, learn from and perform alongside an established pianist of international renown for the first time. This singer also received individual coaching - 3 hours - in the weeks prior to the performance.
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The charity launched a new Community Opera Chorus for amateur singers drawn from a diverse cross-section of the public. The members of this chorus participated in both of the large-scale performances as described above, and benefited from rehearsals led by a professional operatic chorus master and professional pianist, supported by a professional Italian language coach.
Public Benefit
We declare that the trustees of Brunswick Vocal Arts have had consistent regard to the public benefit requirement guidance issued by the Charity Commission when starting, registering, running and reporting on the charity.
Achievements & performance
In addition to Brunswick Vocal Arts’ principal achievements linked to educational and artistic activity as outlined above, the charity has achieved the following during its first year of operation:
The launch and initial activities of the charity have drawn a good deal of attention, encouragement and praise from across the classical music profession and its affiliated higher education institutions, for the high quality of its work on both educational and artistic fronts.
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Trustees’ Annual Report
For the year ended 31 October 2023
The charity has consolidated its founding donor ‘consortium’ through regular and clear communications, and has gained additional supporters during its first year in operation, putting it in a good position as it prepares and plans for the future.
Brunswick Vocal Arts has demonstrated that its founding trustees are a well-functioning and efficient group of individuals, each bringing their own expertise and skills to the charity in an effective way.
The charity has established a firm online presence and steadily growing following through its social media channels and simple, user-friendly, well-designed website.
Some of the performers at the first concerts sponsored by Brunswick Vocal Arts
Financial Review
The vast majority of Brunswick Vocal Arts’ financial support is currently drawn from two sources:
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generous private individuals’ charitable giving
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other charitable trusts and funds whose aims are in alignment with those of BVA, and whose objectives include supporting other charities
During the year nearly £52,000 was received from generous donors. One public concert was given during the year at a cost of £22,000, leaving a surplus of £32,000 to continue the work of the charity.
Reserves policy
Brunswick Vocal Arts’ trustees resolved (in their second trustee meeting, in December 2022) that in the longer term, the charity will aim to provide reserves of 50% of its average yearly expenditure.
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Trustees’ Annual Report
For the year ended 31 October 2023
Future Plans
Bruswick Vocal Arts will continue to provide opportunities for young musicians to perform. Plans for 2024 include an Aria Showcase in January and a concert performance of highlights from Don Giovanni in September.
Structure, Governance & Management
Governing document
Private Limited Company by guarantee without share capital with use of ‘Limited’ exemption. Memorandum and articles - incorporated 20 October 2022.
Organisational structure
Trustees are elected by existing trustees.
Reference & Administrative details
Charity name Brunswick Vocal Arts Charity number 1202624 C ompany number 14431143 Registered office 53 Ringford Road, London, SW18 1RP Website address www.brunswickvocalarts.com Current trustees David Wakefield - Chair Garry Matthewman - Artistic Directr Dr Claire Barnett-Jones Carl Jackson Bankers NatWest Bank - sort code: 50-21-01 Independent Examiner Robert Andrews 3 Sewards End, Wickford SS12 9PB
Approval
This report, which has been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by:
David Wakefield Chair
Date: 2 April 2024
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Independent Examiner’s Report
For the 12 months ended 31 October 2023
Independent examiner’s report to the trustees of
I report on the accounts of the charity for the year ended 31October 2023, which are set out on pages 5 to 9.
Respective responsibilities of trustees and examiner
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or
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the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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.
Robert Andrews MA ACIB FCIE
3 Sewards End, Wickford SS12 9PB
Relevant professional qualification: Fellow of the Association of Charity Independent Examiners
Date: 23 March 2024
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Statement of Financial Activities (including Income & Expenditure account)
For the year ended 31 October 2023
| Note Income from: Donations Charitable activities Total incoming resources 4 Expenditure on: Charitable activities Support costs Total expenditure 5 Net income (expenditure) Reconciliation of funds Total funds as at 1 November 2022 Total funds as at 31 October 2023 |
Unrestricted funds £ 51,827 1,575 |
|---|---|
| 53,402 | |
| 21,608 269 |
|
| 21,877 | |
| 31,525 | |
| - | |
| 31,525 |
All activities are regarded as continuing.
Balance Sheet
As at 31 October 2023
| e Sheet ctober 2023 |
|
|---|---|
| Note Current assets Debtors and prepayments 6 Bank and cash 7 Net assets Funds Unrestricted income funds Creditors: amounts falling due within one |
Unrestricted funds £ 6,672 24,853 - |
| 31,525 | |
| 31,525 |
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The trustees (who are also the directors of the company for the purposes of company law) confirm that for the 12 month period ended 31 October 2023:
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the company was entitled to exemption from audit under section 477 of the Companies Act 2006 and
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members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of the accounts.
The Notes on pages 7 to 9 form an integral part of these accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP and were approved by the trustees and signed on their behalf by:
David Wakefield Chair Date: 2 April 2024
Signature of director authenticating accounts being sent to Companies House.
David Wakefield Chair
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Notes to the financial statements
For the year ended 31 October 2023
1. Basis of preparation
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i. These accounts (financial statements) have been prepared under the historic cost convention, with items recognised at cost or transaction value, unless otherwise stated in the relevant note(s), in accordance with:
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a. The Charities Act 2011
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b. The Companies Act 2006
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c. The Financial Reporting Standard applicable in the UK: FRS102
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d. Accounting & Reporting by Charities: Statement of Recommended Practice (Charities SORP FRS102)
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ii. The charity meets the definition of a public benefit entity as defined by FRS102
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iii. The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
2. Accounting policies
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i. Fund accounting
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a. Unrestricted funds are those that can be expended at the discretion of the trustees in furtherance of the objects of the charity.
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b. Restricted funds are those that may only be used for specific purposes. Restrictions arise when specified by the donor, or when funds are raised for specific purposes. There are currently no restricted funds.
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c. The purposes of the funds are shown in Note 8.
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ii. Income
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a. Income is recognised and included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the income, receipt is probable, and the monetary value can be measured with sufficient reliability.
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b. Where income has related expenditure) the income and related expenditure are reported gross in the SOFA.
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c. Bank interest is recognised when credited to the account.
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iii. Expenditure and liabilities
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a. Expenditure is recognised on the accruals basis.
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b. The charity is not registered for VAT, thus all costs are shown inclusive of VAT charged.
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c. Liabilities are recognised as soon as there is a legal or constructive obligation to pay out resources.
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d. Governance costs include the cost of preparation and examination of the statutory accounts, the cost of trustee meetings, the cost of the Annual General Meeting of the company and the costs of any legal advice to trustees on governance or constitutional matters.
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iv. Investment assets
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a. are valued at the mid-market price on the last day of the accounting year.
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v. Tangible assets
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a. Tangible assets are capitalised if they can be used for more than one year, and cost at least £1,000.
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b. The charity does not currently have any capitalised tangible assets.
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vi. Debtors
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a. Debtors are recognised at the settlement amount due.
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b. Prepayments are valued at the amount prepaid.
vii. Cash
- a. Cash comprises bank deposits repayable on demand and any short-term highly liquid investments with a maturity date of three months or less from the date of acquisition or opening of the deposit or similar account.
viii. Creditors
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a. Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at the settlement amount, usually the invoice amount.
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b. Accrued charges are normally valued at their settlement amount.
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ix. Taxation
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a. The charity is not liable to income tax or capital gains on its charitable activities.
3. Transactions with trustees and related parties
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i. Transactions with trustees
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a. £2,000 was paid to Gary Matthewman for directing the concert given on 5th September 2023
This is permitted by the Articles of the Company and was approved by the remaining trustees. No other trustee received any remuneration during this year or in the previous year.
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ii. No travelling expenses were reimbursed during the year.
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iii. Claims for out of pocket expenses such as stationery and postage are reimbursed as incurred.
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iv. There were no transactions with related parties.
4. Income
1 November 2022 to 31 October 2023
Note Unrestricted funds £ Income Income from donations Donations 45,155 Income tax recovered on Gift Aid 6,672 51,827 Income from Charitable activities Concert - ticket sales & refreshments 1,575 Total income 53,402
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5. Expenditure
1 November 2022 to 31 October 2023
| Note Expenditure on charitable activites Direct costs Concerts Soloists Musicians Venue hire Music & equipment hire Catering costs Printing & publicity Support costs Sundries Website and IT costs Gifts Total expenditure |
Unrestricted funds £ 4,280 14,063 1,160 1,138 305 662 |
|---|---|
| 21,608 | |
| 68 156 45 |
|
| 269 | |
| 21,877 |
6. Debtors & prepayments
The 2023 debtor of £6,672 is HMRC in relation to Gift Aid claimed on donation income. Payment was received on 15 November 2023.
7. Cash at bank and in hand
Balance of NatWest Bank account at 31 October 2023 was £24,853.
8. Purpose of funds
The General Fund is the balance of accumulated surpluses and is available for the day to day running costs of the charity.
9. Paid employees
The charity has no paid employees
10. Governance costs
The Independent Examiner is registered by the Association of Charity Independent Examiners as a voluntary examiner and has made no charge for the examination of the accounts.
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