The Manchester Mid-Day Concerts Society Registered Charity Number= 224723 Financial Statements For the year ended 30 April 2024 CONTENTS PAGE NO. Trustees, Report Independent Examiners Report Statement of Financial Activities Balance Sheet Notes to the Accounts 8-10 PAGE I The Manchester Mid-Day Concerts Society Registered Charity Number- 224723 Trustees. Report For the year ended 30 April 2024 The Trltstees present their report with the financial statements of the Charity for the year ended 30 April 2024. The Trustees have adopted the provisions of AccountinE and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Starbdard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191. The Manchester Mid-Day Concerts Society is an unincorporated association governed by a constitution dated l October 1992 and is a registered Charity INo.2247231. Its address is 9 Hurst Avenue, Cheadle Hulme, Cheshire, SK8 7PQ. Objectives and Activities Objertives The Charity is established to provide weekly mid-day concerts on a seasonal basis and to promote music generally in Manchester. The Trustees have considered the Charity Commission's public benefit requirement. The Charitys concerts are open to anyone with an interest in music and no restrictions on attendance apply. The Charity gives concert opportunities to young and emerging artlsts both through its programme of auditions, and by giving concert dates to a small number of prize winners from major music competitions. Achievements and Future Developments During the year the Charity promoted 17 concerts. We were delighted by the programme of artists we were able to put together both from the auditiolls, prize winners and special invitation. 10 concert dates were given directly to young artists successful in the audition process and a further 3 dates to yoong artists by invitation. We are delighted that audience numbers have gradually built over the season to now be at least at pre-covid levels. We feel optimistic they can be built up further. Total income for the year was £65,14312023= £146,367) and total expenditure £61,10012023- £52,373). The surplus for the year was £4,043 12023.. surplus £93,994). The balance of the ReseNe Fund at 30 April 2024 was £317,351130 April 2023.. £313.308I. All reserves are classed as unrestricted. It was necessary to defer £1,000 of sponsorship income received in the year because we have not yet promoted the relevant concert. These funds will be released in 2024125. The attached financial statements show the income and expenditure for the year and the state of the Chariws finances at 30 April 2024 which the Committee considers to be sound. We will promote 17 concerts in the 2024-25 season with 10 of the artists and ensembles coming directly from the audition proces5. We are delighted to have been able to put together a varied and interesting programme which we hope will be popular with audiences. We will run another programme of aLEditions for the 2025126 season in the autumn of 2024. Two sub-groups of Trustees have been formed to take fO￿ard planning of new activities for the Charity and we expect to be able to make firm plans for these before the end of the year. We are also working on a new marketing strategy for the concert series to help build audience numbers and publicise the work of the Charity- Friends and Supporters The Trustees are extremely grateful to the individuals and organisations that continue to support our activities. The Trustees thank all Friends of the Middays and supporting Trusts, Companies and individuals for their donations. sponsorship and bequests. PAGE 2 Structure. Governance and Management Goveming document The Charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. The Board of Trustees The Trustees are selected from various walks of life in the Manchester area with an interest in the Charity's activities- business people, professional musicians, audience members and educationalists. The Trustees met three times during the year. Trustee Responsibilities The Trustees are responsible for preparing the Trustees, Report and the Fiftancial Statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each fit)ancial year 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 judgement5 and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departLsres disclosed and explained it) the financial statements; prepare the financial statements on the going £oncern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping accounting records that disclose with reasonable accijracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Art 2011. the Charity (Accounts Report51 Regulations 2008 and trust deed. They 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 and members ofthe Management Committee during the year were- R Martindale Ichairl D Atherton (appointed 12 January 20241 N Hurley BLam H Parker A Sluce A Tabron ITreasurerl C Webb C Yate5 J Young (resigned 25 March 20241 Bankers.. National Westminster Bank PLC 438 Barlow Moor Road, Chorlton cum Hardy, Manchester, M21 ONW Independent Examiner= Adamj Syddall MA FCA- P. B. Syddall & Co Grafton House, 81 Chorley Old Road, Bolton, Lancashire, BLI 3AJ PAGE 3 During the year the Committee used the services of Mr Simon Parkin as its Director of Concerts, Miss Alice Beckwith as Programme Manager, and Emily Marsden as Administration Assistant for the Charity. The Committee thank them all for their support in the running of the Charity during the year. Reserves and Investments The Trustees are awar of the importance of retaining sufficient reserves to enable the Charity to continue its operations. The Trustees consider the Charitls current financial position to be very healthy. It is the intention of the Trustees to manage surplus monies in a way that ensures it can deliver maximum benefit on the timescales planned, whilst being mindful of managing interest and capital growth against the risks of capital loss. The Trustees have prepared an Investment Policy to help them do this. The objectives of the Charity's investment strategy are to. ensure that the Charity can meet its short and long term financial commitments,. maximise the benefit it delivers from the funding available to it; balance investment income and growth objectives against the risk of capital loss,. ensure restricted funding received is protected from risk of capital loss. Risk Management The Trustees have reviewed the risks to which the Charity is exposed. The Trustees believe that in the last two years significant progress has been made in re-building a successful concert series after the disruption due to Covid-19. In the last year we feel good progress has been made to rebuild audience numbers, however, we feel more can be done to further promote the work of the Charity and increase attendance further. The Trustees are focused on activities to achieve this. As the Charity considers options to expand its work further, new risks may be identified. The Trustees are committed to evaluating these risks and putting in place mitigating actions where necessary. We approve the Finarbcial Statements a5 set out on pages 6 to 9 and confirm that we have made available all accounting records, vouchers, information and explanations for their preparation. R Martindale (Chairl A Tabron [TreaSu￿r) on behalf of the Trustees Date of approval.. IS PAGE 4 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MANCHESTER MID-DAY CONCERTS SOCIETY Independent examinerfs report to the trustees of the Manchester Mid-Day C(mtert5 Society I report to the Charity trustees on my examination of the accounts of the Manchester Mid-Day Concerts Society (the Charity) for the year ended 30 April 2024 as set out on pages 6 to 10. Responsibilities and basis of the report As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the Charity's accounts carried out under section 145 01 the Act and in carrying out my examination I have followed all applicable directions given by the Charity Commission under section 14515llbl of the Act. Independent examine¢5 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.. accounting records were not kept in respect of the Charity 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 account5 set out in the Charities (Accounts and Reports) Regulations 2CKJ8 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 J Syddall MA FCA P B Syddall & Co Chartered Accountants Grafton House 81 Chorley Old Road Bolton Lancashire BLI 3Af DATE PAGE 5 THE MANCHESTER MID-DAY CONCERTS SOCIEri STATEMENTS OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 30 APR 2024 U14RESTRICTED FUNDS Charity Number 224723 FULL YEAR 2024 FULL YEAR 2023 Notes INCOMING RESOURCES Chafitable Acti4ities Donations froEn The Friends of the Mirpdays Legacie5 and Bequests 3,785 142 4,180 100.084 Charftable ActkYhlE5 ConcÈrt Receipts Concert Sponsorship Other Grants Help Musician5 UK 37.502 12,550 27,252 11,000 50,052 38,252 Other Income Glft Ald Advertising Subscriptions and Gifts Bank Interest 824 755 175 10,340 2321 11.164 3.851 Total Incoming Resources 65.143 146,367 RESOURCES EXPENDED Costs of Ralslft Funds PTlnting Advertisingand PR Sub5CriPtions 2,041 1,441 475 470 1,283 220 3.957 1.973 Charitable Ob ectlves Artists, Fees and EXper￿@S Hall Hire Ind Piano Tur¥ing PRS and Otherconcert Costs Administrator, Programme Managerand Concert Director Fees Office Ex￿nSeS Insurance Other Direct Costs Audition Costs Examiner'5 Fee5 Trustee Expenses 17N82 16,019 3,529 17,513 532 190 16.550 13,732 1,784 15.57S 489 125 1,121 354 1.140 276 57.143 50.400 Totsl Resources Expended 61.1ty) 52,373 NET INCOMINGIIOUTGOINGI RESOURCES 41M3 93.994 Unrestricted Reserves Brought Forward 313308 219,314 LINRESTRICTED RESERV£S CARRIED FORWARD 317.351 313,308 There 8re no restrictEd funds. The Charity has no other recogni5ed galns orlosses otherthan in the results as set out above. All of the activities of the Charity are classed as continuing. PAGE 6 THE MANCHESTER MID-DAY CONCERTS SOCIErY BALANCE SHEEY A5 AT 30 APRIL 2024 UNRESTRICTED FUNDS char￿ Numbei 224723 FULL YEAR Notes 2024 Z023 CURRENT ASSETS Debtors Cash and Bank Balances 6,939 316,847 3056 317,567 323.786 321A23 CURRENT LIABILITIES Creditors 6.435 8,1 6.435 8,115 NET CURRENT ASS￿5 317,351 313.308 NET ASSETS 317.351 313,308 RÈPRESENTED BY: ed Funds General Fund io 317351 313,308 TOTAL FUNDS 317,351 313,308 R Martindale ICh3sr of Trustees? A Tabron rrreasurer and Tru5teel on behalf of the trustees Oate Approved PAGE 7 THE MANCHESTER MID-DAY CONCERTS SOCIErY Charity Number 224723 NOTES TOTFIE ACCOUNTS YEAR ENDED 30 APRIL 20Z4 STATUTORY INFORMATION The Manchester Mid-D3y Concerts Society ￿ a registered charty registered in En￿and and Wale5. The Charity's registered number and registered office address can bp found in the Report of the Trustees. The presentaticn currency of thefinancial Statements is the Pound Sterlingl£l. AccouNnNG POLICIES Basls of prepa￿n¥ the financial statements The fInanc￿al statements of the Charity. which is a public benefit entity under FRS 102, have been prepared in accordance with the c￿￿tieS SORP IFRS 1021'Accounting and Reporting by Charities". Statement of Recommended Praitice ap[￿ICable to charitie5 preparing their accounts in accordance with the Fi￿anCial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 leffeitivÈ I January 20191,, Financial Reporting Standard 102'The Flnancial Reporting St3nd3rd Bpplicable in the UK and Republic of Ireland, and the C￿r[tIeS Att 2011. The financial statements have been prepared under the hlstorlcal tost convention. Critical accountlngludgements and key sources of estimation uncert3inty In the application of the char￿ty'S èccountin8 policies the trustees are requlred to make judgement5 estimates and assumptions aboLrt the carryine amount of a55et5 and liabilitiEs that are tiot readily apparent from other sources. The estimates and 3SSOClated a5sumption5 are based on historical experience and otherlactors that are tonsldered to be relevant. Actual resuks may drfferfrom these estimates. The e5tim3tes and underlying assumptions are reviewed on èn Ongoing basis. Revislons to ètcounting estirnate5 are recogni5ed in the period in which the estimate is revised where the revision affects only that period or in the period trf revisiun and f￿U[￿ periods where the rew5ion affects both current and future ppriad5. There were no estimates or assumptions which have a significant rlsk of c8usln8 a matèrial adlustTnent to the carrying amourtof assets 3nd liabili(ies. Income and Donatlons Incorne receivedfor specific or eener81 charitable purposes Is reflected In Its entirety In the St3temÈnt of Flnaniial Attiv(