2023-08-31-accounts - Cor Meibion Pontarddulais/ The Pontarddulais Male Voice Choir

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Cor Meibion Pontarddulais Male Choir

Charity No. 244197

Trustees' Report and Unaudited Accounts

31 August 2023

Cor Meibion Pontarddulais Male Choir Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Statement of Cash flows	14
Notes to the Accounts	7 to 13
Detailed Statement of Financial Activities	15 to 16

Page 1

Cor Meibion Pontarddulais Male Choir Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 August 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 244197

Principal Office

53 Woodville Street Pontarddulais Swansea SA4 8SH

Trustees

The following trustees served during the year:

E.L. Anthony

P.G. Guy

Key Management Personnel

Trustee Trustee

Emyr Lyn Anthony Peter Guy

Accountants

GCNG Consultancy Limited GCNG House, Unit 12 Tawe Business Village Swansea SA7 9LA

Bankers

Lloyds Bank plc

OBJECTIVES AND ACTIVITIES

To foster and promote the education of the general public in the appreciation of music in all its aspects and to co-operate with local authorities, educational institutions and cultural societies relating to the practice, presentation and study of music, in order, inter alia, to promote better and more widespread performance of Male Choral work, both within the United Kingdom and Worldwide

ACHIEVEMENTS AND PERFORMANCE

Following the pandemic the activities of the choir have returned to normal during the year. Rehearsals twice a week and concerts have been resumed.

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Page 2

Cor Meibion Pontarddulais Male Choir Trustees Annual Report

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

E.L. Anthony Trustee 31 August 2023

Page 3

Cor Meibion Pontarddulais Male Choir Independent Examiners Report

Independent Examiner's Report to the trustees of Cor Meibion Pontarddulais Male Choir

I report to the trustees on my examination of the financial statements of Cor Meibion Pontarddulais Male Choir for the year ended 31 August 2023.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements 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 can 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:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.

Thomas R Jones FCCA GCNG Consultancy Limited GCNG House, Unit 12 Tawe Business Village Swansea

SA7 9LA 31 August 2023

Page 4

Cor Meibion Pontarddulais Male Choir Statement of Financial Activities

for the year ended 31 August 2023

Unrestricted funds	Total funds	Total funds
2023	2023	2022
£	£	£

32,031	32,031	20,600
9,010	9,010	1,660
1,284	1,284	27
42,325	42,325	22,287

4,391	4,391	-
14,725	14,725	2,604
26,956	26,956	15,445
46,072	46,072	18,049
-	-	-
(3,747)	(3,747)	4,238
-	-	-
(3,747)	(3,747)	4,238

(3,747)	(3,747)	4,238

61,152	61,152	56,914
57,405	57,405	61,152

Page 5

Cor Meibion Pontarddulais Male Choir Balance Sheet

at 31 August 2023

at 31 August 2023
Charity No. 244197 Current assets Stocks 11 Cash at bank and in hand Creditors:Amount falling due within one year 12 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds Reserves 13 Total funds	2023 £ 4,305 53,100 57,405 - 57,405 57,405 57,405 57,405 57,405 57,405 57,405	2022 £ 4,305 72,289
		76,594 (15,442)
		61,152 61,152
		61,152
		61,152
		61,152
		61,152
		61,152

Approved by the trustees on 31 August 2023

And signed on their behalf by:

E.L. Anthony Trustee 31 August 2023

Page 6

Cor Meibion Pontarddulais Male Choir Notes to the Accounts

for the year ended 31 August 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

Cor Meibion Pontarddulais Male Choir Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 8

Cor Meibion Pontarddulais Male Choir Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9

Cor Meibion Pontarddulais Male Choir

Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Charitable activities Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Membership income Patronage income Donations 4 Income from charitable activities Concerts	Unrestricted £ 20,498 7,245 4,288 32,031 Unrestricted £ 9,010 - - 9,010	Unrestricted funds 2022 £ 2,305 1,660 27 3,992 2,604 15,445 18,049 (14,057) (14,057) (14,057) 56,914 42,857 Total 2023 £ 20,498 7,245 4,288 32,031 Total 2023 £ 9,010 - - 9,010	Total funds 2022 £ 2,305 1,660 27
			3,992 2,604 15,445
			18,049
			(14,057)
			(14,057)
			(14,057) 56,914
			42,857
			Total 2022 £ 20,315 250 35
			20,600
			Total 2022 £ 560 50 1,050
			1,660

Page 10

Cor Meibion Pontarddulais Male Choir Notes to the Accounts

5 Other income

Unrestricted £ 130 810 344 1,284	Total 2023 £ 130 810 344 1,284	Total 2022 £ 22 5 -
		27

Unrestricted £ 4,391 4,391 Unrestricted £ 12,925 - 1,800 14,725	Total 2023 £ 4,391 4,391 Total 2023 £ 12,925 - 1,800 14,725	Total 2022 £ -
		-
		Total 2022 £ 200 1,014 1,390
		2,604

Page 11

Cor Meibion Pontarddulais Male Choir Notes to the Accounts

8 Analysis of grants

Activity or programme Local causes Activity or programme Local causes 9 Other expenditure Employee costs Premises costs General administrative costs Legal and professional costs 10 Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 11 Stocks Finished goods Carrying value analysed by activities 0	Grants to Institutions £ 1,800 1,800 Grant funding of activities £ 1,800 1,800 Unrestricted £ 18,260 4,960 3,716 20 26,956 2023 18,260 18,260 2023 £ 4,305 4,305 2023 £ 4,305 4,305	Total 2023 £ 1,800 1,800 Total 2023 £ 1,800 1,800 Total 2023 £ 18,260 4,960 3,716 20 26,956	Total 2022 £ 1,390
			1,390
			Total 2022 £
			1,390
			1,390
			Total 2022 £ 11,327 1,170 2,870 78
			15,445
			2022 11,049
			11,049
			2022 £ 4,305
			4,305
			2022 £ 4,305
			4,305

Page 12

Cor Meibion Pontarddulais Male Choir Notes to the Accounts

2023 £ - - Incoming resources (including other gains/losses ) £ 42,325 42,325 At 1 September 2022 £	Resources expended £ (46,072) (46,072) Unrestricted funds £ 57,405 57,405 Cash flows £	2022 £ 15,442
		15,442
		At 31 August 2023 £ 57,405
		57,405
		Total £ 57,405
		57,405
		At 31 August 2023 £
72,289	(19,189)	53,100
72,289 72,289	(19,189) (19,189)	53,100
		53,100

Page 13

Cor Meibion Pontarddulais Male Choir Statement of Cash flows for the year ended 31 August 2023

Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments (Decrease)/Increase in trade and other payables Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2023 £ (3,747) (1,284) (15,442) (20,473) 1,284 1,284 - (19,189) 72,289 53,100	2022 £ (14,057) (27) 4,233
		(9,851) 27
		27

		-

		(9,824)
		113,215
		103,391

Components of cash and cash equivalents
Cash and bank balances	53,100	72,289

	53,100	72,289

Page 14

Cor Meibion Pontarddulais Male Choir Detailed Statement of Financial Activities

for the year ended 31 August 2023

Income and endowments from: Donations and legacies Membership income Patronage income Donations Charitable activities Concerts Other Royalties Interest Members uniforms Total income and endowments Expenditure on: Costs of generating donations and legacies Membership income Total of expenditure on raising funds Charitable activities Concerts Grants made Total of expenditure on charitable activities Employee costs Salaries/wages Staff welfare Premises costs Rent	Unrestricted funds 2023 £ 20,498 7,245 4,288 32,031 9,010 - - 9,010 130 810 344 1,284 42,325 4,391 4,391 4,391 12,925 - 1,800 14,725 14,725 18,260 - 18,260 4,960 4,960	Total funds 2023 £ 20,498 7,245 4,288 32,031 9,010 - - 9,010 130 810 344 1,284 42,325 4,391 4,391 4,391 12,925 - 1,800 14,725 14,725 18,260 - 18,260 4,960 4,960	Total funds 2022 £ 20,315 250 35
			20,600
			560 50 1,050
			1,660
			22 5 -
			27
			22,287 -
			-
			- 200 1,014 1,390
			2,604
			2,604 11,049 278
			11,327
			1,170
			1,170

Page 15

Cor Meibion Pontarddulais Male Choir Detailed Statement of Financial Activities

General administrative costs, including depreciation and amortisation General insurances Information and publications Postage and couriers Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Legal and professional costs Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	863 35 - 2,489 273 51 5 3,716 20 20 26,956 46,072 - (3,747) (3,747) - (3,747) 61,152 57,405	863 35 - 2,489 273 51 5 3,716 20 20 26,956 46,072 - (3,747) (3,747) - (3,747) 61,152 57,405	928 35 328 349 86 51 1,093
			2,870
			78
			78

			15,445
			18,049 -
			4,238
			4,238 -
			4,238
			56,914
			61,152

Page 16