## **LIVERPOOL WELSH CHORAL UNION**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
**Charity number 258458**
**LIVERPOOL WELSH CHORAL UNION**
## **CONTENTS OF THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
||**Page**|
|---|---|
|**Legal and administrative details**|1|
|**Report of the trustees**|2|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5|
|**Notes to the Financial Statements**|6|
|**Independent Examiner’s Report**|9|
## **LIVERPOOL WELSH CHORAL UNION**
## **LEGAL AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 JUNE 2021**
## **TRUSTEES:**
Geraldine Rose Boocock Gareth Morgan Howells Rhiannon Liddell Stella Maris McGann Clare Catherine Mary Orrell Wendy Charlton Jane Donnelly Hazel Davies Shelia Hamilton Kevin Rigby Andrew Boyle Sandra Webster Alison Shead Wena Evans Brenda Mary Coffey (appointed 3 February 2021) Susan Donovan (appointed 3 February 2021) Anne Williams (appointed 3 February 2021) Margaret Heap (resigned 3 February 2021) Pam Donaghy (resigned 3 February 2021) Bryn Jones (resigned 3 February 2021)
## **PRINCIPAL OFFICE ADDRESS:**
11 Vicarage Close Mossley Hill Liverpool Merseyside L18 7HU
**CHARITY NUMBER:** 258458 (England and Wales)
## **INDEPENDENT EXAMINER:**
David Glover FCA John Kerr - Chartered Accountants 375 Eaton Road West Derby Liverpool Merseyside L12 2AH
Page 1
## **LIVERPOOL WELSH CHORAL UNION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
The trustees are pleased to present their annual trustees’ report together with the financial statements of the charity for the year ended 30 June 2021. The financial statements comply with the Charities Act 2011 and the 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) issued in October 2019. The legal and administrative information set out on page 1 forms part of this report.
## **OUR PURPOSES AND ACTIVITIES**
The purposes of the charity are to advance the study and practice of choral music in order to foster the public knowledge and appreciation of such music by means of public performances. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’. The charity relies on the income from ticket sales, membership subscriptions, fundraising activities and other charges to cover its operating costs. Affordability and access to our performances is important to us and is reflected in our pricing policy. We endeavour to encourage all to take part in our activities and to attend our performances. The programme of events is designed to be enjoyed by all.
The strategies employed to achieve the charity’s aims and objectives are to: present a broad range of choral productions and performances for the enjoyment and enlightenment of the community; offer opportunities for a broad range of people to get involved in choral music activities thereby exploring their own creative powers; provide facilities for amateur and professional performers and artists to develop.
## **ACHIEVEMENTS, PERFORMANCE AND PLANS FOR THE FUTURE**
Over this last year, The Choir has rehearsed and performed several significant pieces which showcase the continuing high vocal standard and musical diversity of our portfolio. The challenge remains to champion the delivery of quality choral works whilst being mindful of our financial position and budgetary restrictions.
Unfortunately, the continued presence of the Covid-19 pandemic and various lockdowns meant that our plans for much of the season and beyond were cancelled.
For Christmas 2020 we were able to present ‘Christmas Sing’ using the facilities of Liverpool Cathedral, performing a selection of well-loved carols and choral pieces.
Once again this year we have been proud to attempt to show off our city and our very varied choral repertoire. We are indebted to those who have given their time and energy to organise events which enhance our reputation, to those who work to create a varied programme every season, to those who look to increase our audience reach and, to those who work hard at fundraising and sponsorship initiatives to mitigate some of our outgoings. In the future we hope to use our newly refreshed website and online ticketing platform to increase both choir recruitment and audience reach. The results for the year and financial position of the charity are as shown in the annexed financial statements. Reserves at the year-end amounted to £289,956, up from £148,873 representing a net increase in funds of £141,083 which largely reflected the legacy of £143,941 from the late Miss Gwladys Euphemia Morris and which, under the difficult circumstances we are facing is most pleasing.
## **RESERVES POLICY AND GOING CONCERN**
Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned costs and other expenditure. The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should be between 12 and 24 months of the planned resources to be expended, which equates to between approximately £100,000 to £200,000 in general funds. At this level, the trustees consider that they would be able to continue the current activities of the charity in the event of a significant drop in funding. At present the free reserves are above this target level and the trustees are considering the possible future expansion of operations for the future benefit of our beneficiaries, once circumstances permit.
In preparing the accounts, the trustees consider that the charity has sufficient resources to continue operations for the foreseeable future.
## **RELATED PARTIES**
None of the trustees receive remuneration or other financial benefit from their work with the charity and any contractual relationship with a related party must be disclosed to the full board of trustees. In the current year, no such related party transactions were reported.
Page 2
**LIVERPOOL WELSH CHORAL UNION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Liverpool Welsh Choral Union (which can trace its roots back to 1900) is an unincorporated trust and was registered as a charity on 6 May 1969. The charity is governed by the policies made from time to time by the trustees together with the terms of its Rules which set out the aims and objects of the charity. The procedures for the appointment, retirement and removal of trustees of the charity are set out in the Rules. All trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
## **RISK MANAGEMENT**
The trustees have a risk management strategy which comprises: an annual review of the principal risks and uncertainties that the charity faces and; the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
Financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due and active management of incoming funds and creditor balances to ensure sufficient working capital is available.
Attention has also been focused on non-financial risks arising from health and safety. These risks are managed by ensuring procedures and accreditations are up to date, having robust policies and procedures in place, and regular awareness training for trustees and volunteers in these operational areas.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and regulations.
Charity law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the net movement in funds of the charity for that period. In preparing these financial statements, the trustees are required
- 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 UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue on that basis.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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 regulations. 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.
## **ON BEHALF OF THE BOARD OF TRUSTEES:**
G R Boocock
Trustee
11 November 2021
Page 3
## **LIVERPOOL WELSH CHORAL UNION**
**STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021**
|**Unrestricted Income Funds:**
Notes
**Income:**
Donations and legacies 12
Income from charitable activities 12
Income from other trading activities 12
Investment income 12|**30.6.21**
**£**
**145,141**
**10,370**
**-**
**861**|30.6.20
£
8,548
48,228
2,013
1,356|
|---|---|---|
|**Total income**|**156,372**
|60,145|
|**Expenditure:**
Cost of raising funds 12
Expenditure on charitable activities 12|**-**
**15,289**|400
50,379|
|**Total expenditure**|**15,289**|50,779|
|**Net movement in funds for the year**3
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**141,083**
**148,873**
**289,956**|9,366
139,507
148,873|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
Page 4
The notes form part of these financial statements
## **LIVERPOOL WELSH CHORAL UNION**
## **BALANCE SHEET 30 JUNE 2021**
|Notes
**UNRESTRICTED INCOME FUNDS:**
**FIXED ASSETS**
Tangible assets
5
**CURRENT ASSETS**
Stocks
6
Debtors
7
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
8
**NET CURRENT ASSETS**
**NET ASSETS**
**THE FUNDS OF THE CHARITY**
Unrestricted income funds
9|**30.6.21**
**£**
**1,156**
**45,578**
**242,486**
**289,220**
**2,545**|**£**
**3,281**
**286,675**
**289,956**
**289,956**
**289,956**|30.6.20
£
1,156
3,527
142,476
147,159
2,580|£
4,294
144,579
148,873
148,873
148,873|
|---|---|---|---|---|
The financial statements were approved by the Trustees and authorised for issue on 11 November 2021 and were signed on its behalf by:
G R Boocock
Trustee
Page 5
The notes form part of these financial statements
**LIVERPOOL WELSH CHORAL UNION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## 1. **LEGAL STATUS OF THE CHARITY**
Liverpool Welsh Choral Union is an unincorporated trust, registered as a charity in England and Wales. The charity's registered number and principal address can be found on page 1.
## 2. **ACCOUNTING POLICIES**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **Basis of preparation**
The financial statements have been prepared in accordance with the 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)) issued in October 2019 – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. Liverpool Welsh Choral Union meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Preparation of the accounts on a going concern basis**
In preparing the accounts, the trustees have taken account of the financial resources available to the charity and consider that the charity should be able to continue operations for the foreseeable future. The Covid-19 pandemic coupled with the uncertain economic outlook and willingness of the public to purchase admission tickets is a significant area of financial uncertainty which the trustees have mitigated by reviewing the programme of future events and adopting a pricing policy that encourages bookings for performances when it is safe to resume these.
## **Income recognition**
Items of income are recognised and included in the accounts when all of the following criteria are met: the charity has entitlement to the funds; any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity; there is sufficient certainty that receipt of the income is considered probable; and the amount can be measured reliably. The economic value of time and services provided by volunteers has not been included in these accounts.
## **Fund accounting**
Unrestricted income funds are available to spend on activities that further any of the purposes of the charity.
## **Expenditure recognition and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **Tangible fixed assets**
Fixed assets are capitalised at cost and depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
|Library|-|25% on reducing balance|
|---|---|---|
|Staging & Equipment|-|20% on reducing balance|
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## 3. **NET MOVEMENT IN FUNDS**
The net movement in funds is stated after charging:
|3.
**NET MOVEMENT IN FUNDS**
The net movement in funds is stated after charging:|||
|---|---|---|
||**30.6.21**|30.6.20|
||**£**|£|
|Independent examination and accountancy fees|**1,800**|1,800|
|Depreciation - owned assets|**1,013**|1,331|
|Staff costs|-|-|
## 4. **TAXATION**
The charity is exempt from tax on income and gains to the extent that these are applied to its charitable objects.
Page 6
**LIVERPOOL WELSH CHORAL UNION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## 5. **TANGIBLE FIXED ASSETS**
|**Library**
**£**
**COST**
At 1 July 2020
**37,441**
Additions
**-**
At 30 June 2021
**37,441**
**DEPRECIATION**
At 1 July 2020
**34,344**
Charge for year
**774**
At 30 June 2021
**35,118**
**NET BOOK VALUE**
At 30 June 2021
**2,323**
At 30 June 2020
3,097
6.
**STOCKS**
Goods for resale
7.
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Recoverable Gift Aid
Prepayments and accrued income
8.
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accruals
9.
**ANALYSIS OF MOVEMENTS IN UNRESTRICTED FUNDS**
At 1 July 2020 represented by net assets
Income
Expenditure
At 30 June 2021 represented by net assets|**Staging**
**Equipment**
**£**
**£**
**1,068**
**1,784**
**-**
**-**
**1,068**
**1,784 **
**718**
**937**
**70**
**169**
**788**
**1,106**
**280**
**678**
350
847
**30.6.21**
**£**
**1,156**
**30.6.21**
**£**
**1,362**
**44,216**
**45,578**
**30.6.21**
**£**
**2,545**|**Totals**
**£**
**40,293**
**-**
**40,293**
**35,999**
**1,013**
**37,012**
**3,281 **
4,294
30.6.20
£
1,156
30.6.20
£
3,252
275
3,527
30.6.20
£
2,580
**General**
**fund**
**£**
**148,873**
**156,372**
**(15,289) **
**289,956**|
|---|---|---|
## 10. **TRUSTEE REMUNERATION AND EXPENSES**
The charity trustees were not paid, nor did they receive any other benefits or expenses from the charity (2020 - £nil). No charity trustee received payment for professional or other services supplied to the charity (2020 - £nil).
Page 7
**LIVERPOOL WELSH CHORAL UNION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## 11. **FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES**
the financial statements.
## 12. **INCOME AND EXPENDITURE SUMMARY**
|**Income:**
**Donations and legacies:**
Donations & sponsorship
Legacies
**Income from charitable activities:**
Ticket sales & fees
Programme sales
Member & honorary member subscriptions
Gift aid reclaims
**Income from other trading activities:**
Coffee sales
Garment sales
Folders & other sales
Music hire
Fundraising
100 Club
Miscellaneous income
**Investment income:**
Bank interest
**Expenditure:**
**Cost of raising funds:**
Opening stocks
Purchases for resale
Closing stocks
100 Club prizes
**Expenditure on charitable activities:**
Orchestras, bands, artistes & conductors
Venue hire
Tickets, printing, programme costs & adverts
Music hire & PRS
Rehearsal & meeting space hire
Insurance
Box Office costs
Advertising, website & promotions
Chorus masters & accompanists
Subscriptions
Making Music PRS fees
Accountancy & Independent Examination
Depreciation of tangible fixed assets
Sundry expenses|**30.6.21**
**£**
**1,200**
**143,941**
-
**-**
**9,007**
**1,363**
**-**
**-**
**-**
**-**
**-**
**-**
**- **
**1,156**
**-**
**(1,156)**
**- **
**-**
**360**
**-**
**3,056**
**-**
**248**
**165**
**1,858**
**5,072**
**365**
**-**
**1,800**
**1,013**
**1,352**|30.6.20
**£**
£
£
2,405
**145,141**6,1438,548
28,249
1,177
15,550
**10,370**
3,25248,228
350
45
17
67
590
944
**-** - 2,013
**861**
1,356
**156,372**
60,145
1,156
-
(1,156)
**-**
400400
15,222
10,467
3,036
2,247
1,293
248
2,020
382
8,387
784
218
1,800
1,331
**15,289 **2,944 50,379
**15,289**
50,779|
|---|---|---|
||
||
Page 8
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF LIVERPOOL WELSH CHORAL UNION**
I report to the trustees on my examination of the accounts of Liverpool Welsh Choral Union for the year ended 30 June 2021 which are set out on pages 4 to 8.
This report is made to the charity’s trustees, as a body, in accordance with the terms of engagement. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the trustees, as a body, for my work or for this report.
## **Responsibilities and basis of report**
As the charity trustees 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 charity’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 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 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.
## **David Glover FCA**
## **John Kerr - Chartered Accountants**
375 Eaton Road West Derby Liverpool Merseyside L12 2AH
11 November 2021
Page 9