**REGISTERED CHARITY NUMBER: 211012** ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 30 SEPTEMBER 2025** ## **FOR** ## **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** Raffingers Holdings Limited Chartered Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 30 September 2025** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Balance Sheet**||5|| |**Notes to the Financial Statements**|6|to|11| |**Detailed Statement of Financial Activities**||12|| **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **REPORT OF THE TRUSTEES for the year ended 30 September 2025** The trustees present their report with the financial statements of the charity for the year ended 30 September 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objective of the charity is to provide support for members who have fallen on hard times or who are faced with illness and disabilities. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Charitable activities** Income is mainly derived from investment in M&G Investment and COIF Charity Funds. Expenses increased in comparison with the previous year due to more grants being paid during the year. ## **Internal and external factors** The trustees have made full assessment of the internal and external factors that may affect these financial statements and do not deem any factors material enough to have an impact. ## **FINANCIAL REVIEW** ## **Investment policy and objectives** Under its trust deed the charity has the ability to invest at the discretion of its board of trustees. ## **Reserves policy** The board of trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on grants and receiving resources through investment income. The trustees considered that the ideal level of reserves as at 30 September 2025 would be six months of resources expended which equates to approximately £35,000. The actual reserves as at 30 September 2025 were £18,257 after excluding fixed asset investment amounting to £865,767. Investments are held by the trustees so that the income can be used for charitable activities. ## **FUTURE PLANS** Concert Artistes' Association Benevolent Fund will continue to consider various sources of its charitable activities, including grant applications in the furtherance of its objectives. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **Recruitment and appointment of new trustees** Trustees are appointed due to their interest in the work of the charity and their recognised experience in specific fields which will support the work of the Concert Artistes' Association Benevolent Fund. ## **Organisational structure** The day to day operation of the charity is controlled and managed by the trustees. ## **Induction and training of new trustees** New trustees are given a full induction by the senior trustees. Trustees can retire when they wish as they do not serve under a fixed term of tenure. Page 1 **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **REPORT OF THE TRUSTEES** ## **for the year ended 30 September 2025** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Wider network** The charity was specifically established to meet the requirement of the qualifying members of the Concert Artistes' Association. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Charity number** 211012 ## **Principal address** 20 Bedford Street London WC2E 9HP ## **Trustees** Mr C Emmett Trustee Ms A A Gaynor Trustee Mr J R Pluck Trustee ## **Independent Examiner** Raffingers Holdings Limited Chartered Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD ## **PUBLIC BENEFIT REPORT** The board have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the charity's future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives set. Approved by order of the board of trustees on 12 March 2026 and signed on its behalf by: Ms A A Gaynor - Trustee Page 2 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **Independent examiner's report to the trustees of Concert Artistes' Association Benevolent Fund** I report to the charity trustees on my examination of the accounts of Concert Artistes' Association Benevolent Fund (the Trust) for the year ended 30 September 2025. ## **Responsibilities and basis of report** As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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 Trust 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 applicable 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. Raffingers Holding Limited Raffingers Holdings Limited Chartered Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD 12 March 2026 Page 3 ## **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **for the year ended 30 September 2025** |2025
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
1,042
Investment income
3
27,701
**Total**
28,743
**EXPENDITURE ON**
**Charitable activities**
4
Relief of distressed members of the Association
53,197
Net gains/(losses) on investments
(31,731)
**NET INCOME/(EXPENDITURE)**
(56,185)
**RECONCILIATION OF FUNDS**
Total funds brought forward
940,209
**TOTAL FUNDS CARRIED FORWARD**
884,024|2024
Total
funds
£
-
27,377| |---|---| ||27,377| ||69,937| ||80,228| ||37,668
902,541| ||940,209| The notes form part of these financial statements Page 4 ## **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **BALANCE SHEET** ## **30 September 2025** |Notes
**FIXED ASSETS**
Investments
9
**CURRENT ASSETS**
Prepayments and accrued income
Cash at bank
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
11
Unrestricted funds
**TOTAL FUNDS**|2025
Unrestricted
fund
£
865,767
7,303
16,354
23,657
(5,400)
18,257
884,024
884,024
884,024
884,024|2024
Total
funds
£
927,498
7,106
14,606
21,712
(9,001)
12,711
940,209
940,209
940,209
940,209| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 12 March 2026 and were signed on its behalf by: Ms A A Gaynor - Trustee The notes form part of these financial statements Page 5 **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 September 2025** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Exemption from preparing a cash flow statement** Exemption has been taken from preparing a cash flow statement on the grounds that the organisation qualifies as a small charity. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date, are noted as a commitment but not accrued as expenditure. ## **Charitable activities** The cost of charitable activities confirm those 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. ## **Governance costs** Governance costs comprise those costs associated with meeting the constitutional and strategic requirements of the charity and the audit fees and other costs linked to the strategic management of the charity. ## **Allocation and apportionment of costs** Overhead and support costs have been allocated first between charitable activity and governance. Overhead and support costs relating to charitable activities have been apportioned based on usage. ## **Taxation** The company is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the board of the trustees. Page 6 continued... **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2025** ## **1. ACCOUNTING POLICIES - continued** ## **Fund accounting** Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ## **Creditors and provisions** Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provision are recognised at the moment the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payments where such discounting is material. ## **Cash at bank and in hand and debtors** Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months form the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to be present value of the future cash receipt where such discounting is material. ## **Investments** Listed investments are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closed quoted market price. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise. ## **2. DONATIONS AND LEGACIES** |**2.**|**DONATIONS AND LEGACIES**||| |---|---|---|---| |||2025|2024| |||£|£| ||Donations and legacies|1,042|-| |**3.**|**INVESTMENT INCOME**||| |||2025|2024| |||£|£| ||Dividends|27,701|27,377| continued... Page 7 **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2025** ## **4. CHARITABLE ACTIVITIES COSTS** ## **5.** |Relief of distressed members of the
Association
**SUPPORT COSTS**
Relief of distressed members of the
Association|Grant
Support
Direct
funding of
costs (see
Costs
activities
note 5)
£
£
£
11,988
41,150
59|Totals
£
53,197| |---|---|---| |||Finance
£
59| ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 September 2025 nor for the year ended 30 September 2024. ## **Trustees' expenses** During the previous year, administrative expenses of £24 were reimbursed to the Trustees. ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Unrestricted| |---|---| ||fund| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Investment income|27,377| |**EXPENDITURE ON**|| |**Charitable activities**|| |Relief of distressed members of the Association|69,937| |Net gains on investments|80,228| |**NET INCOME**|37,668| |**RECONCILIATION OF FUNDS**|| |Total funds brought forward|902,541| |**TOTAL FUNDS CARRIED FORWARD**|940,209| continued... Page 8 **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2025** ## **8. AUDITORS' REMUNERATION** During the previous year, audit fees of £6,360 were included in expenditure. ## **9. FIXED ASSET INVESTMENTS** |**FIXED ASSET INVESTMENTS**|| |---|---| ||Listed| ||investments| ||£| |**MARKET VALUE**|| |At 1 October 2024|927,498| |Disposals|(30,000)| |Revaluations|(31,731)| |At 30 September 2025|865,767| |**NET BOOK VALUE**|| |At 30 September 2025|865,767| |At 30 September 2024|927,498| There were no investment assets outside the UK. ## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Other creditors
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
28,743
**TOTAL FUNDS**
28,743|At
1.10.24
£
940,209
940,209
Resources
expended
£
(53,197)
(53,197)|2025
2024
£
£
5,400
9,001
Net
movement
At
in funds
30.9.25
£
£
(56,185)
884,024
(56,185)
884,024
Gains and
Movement
losses
in funds
£
£
(31,731)
(56,185)
(31,731)
(56,185)| |---|---|---| ## **11. MOVEMENT IN FUNDS** continued... Page 9 **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2025** ## **11. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |At
1.10.23
£
**Unrestricted funds**
General fund
902,541
**TOTAL FUNDS**
902,541
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
27,377
(69,937)
**TOTAL FUNDS**
27,377
(69,937)
A current year 12 months and prior year 12 months combined position is as follows:
At
1.10.23
£
**Unrestricted funds**
General fund
902,541
**TOTAL FUNDS**
902,541|Net
movement
At
in funds
30.9.24
£
£
37,668
940,209
37,668
940,209
Gains and
Movement
losses
in funds
£
£
80,228
37,668
80,228
37,668
Net
movement
At
in funds
30.9.25
£
£
(18,517)
884,024
(18,517)
884,024|At
30.9.24
£
940,209| |---|---|---| |||940,209| |||884,024| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|56,120|(123,134)|48,497|(18,517)| |**TOTAL FUNDS**|56,120|(123,134)|48,497|(18,517)| continued... Page 10 **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 September 2025** ## **11. MOVEMENT IN FUNDS - continued** Unrestricted funds represent funds available to the trustees for the general purposes of the charity. ## **12. RELATED PARTY DISCLOSURES** Charges were made by the Concert Artistes' Association of £3,600 (2024 - £3,600) in respect of use of the office at 20 Bedford Street, London, WC2E 9HP and for general administration expenses. ## **13. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES** In common with many organisations of similar size and nature, the charity uses its auditors to assist with the preparation of its financial statements. Page 11 **CONCERT ARTISTES' ASSOCIATION BENEVOLENT FUND** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2025** ||2025|2024| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations and legacies|1,042|-| |**Investment income**||| |Dividends|27,701|27,377| |**Total incoming resources**|28,743|27,377| |**EXPENDITURE**||| |**Charitable activities**||| |Gifts and donations|2,453|2,386| |Use of office|3,600|3,600| |Administration expenses|1,535|1,453| |Bereavement grants|2,600|850| |Accountancy fees|1,800|-| |Grants to individuals|41,150|55,208| ||53,138|63,497| |**Support costs**||| |**Finance**||| |Bank charges|59|80| |**Governance costs**||| |Auditors' remuneration|-|6,360| |Total resources expended|53,197|69,937| |**Net expenditure before gains and losses**|(24,454)|(42,560)| |**Realised recognised gains and losses**||| |Unrealised gains/(losses) fixed asset investment|(32,183)|78,979| |Realised gains/(losses) fixed asset investment|452|1,249| |**Net (expenditure)/income**|(56,185)|37,668| This page does not form part of the statutory financial statements Page 12