LIVERPOOL WELSH CHORAL UNION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDEO 30 JUNE 2024 Charlty number 258458
LIVERPOOLWELSH CHORAL UNION CONTENTS OF THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Page Legal and &dmlnl8tratlve details Rèport of th• trustees ststement of Financlal Actlvltles Balanee Shèèt Notes to the Fln?nc131 Statements Indgpgndent Examlnèrfs Report
LIVERPOOL WELSH CHORAL UNION LEGAL AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 JUNE 2024 TRUSTEES.. Geraldlne Rose Boocock Stella Maris McGann Clare Catherine Mary Orrell Wèndy Charlton Hazel Davies Sheli8 Hamilton Kevin Rigby Alison Shèad Wen8 Evans Ann8 Willi8ms George Jones loan Wardhaugh PRINCIPAL OFFICE ADDRESS.. 11 Vicarage CIDS Mossley Hill Liveipool Merseysid9 L18 7HU CHARITY NUMBER: 258458 (England ¥nd Wales) INDEPENDENT EXAMINER; Keilh Miller FCA John Kerr- Charlared Accovntanls 375 Ealon Road Wesl Derby Liverpool Merseyside L122AH Page 1
LIVERPOOL WELSH CHORAL UNION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 The trustees are pleased lo piesenl their annual trustees. report togelher with the f1Th8nttial st8tements of the charity foi the year ended 30 June 2024. The f1nancial stalemenls comply with the Charili8s Act 2011 and Accountin9 and Reporiing by Charities.. St81ement ol Recommended Practice applicabl8 lo charilies preparing Iheir a¢¢ounls in ac¢ordan¢e wilh the Financial Reporting Standard applicable In the UK and Republic of Ireland {FRS 102) effeclNe I Janltary 2019. The legal and adminislralive Information sel out on page 1 forms part of Ihis réporl. OUR PURPOSES AND ACTIVITIES Tho purposes ol the charity ale lo advance th8 study and practice ol choral music in order lo fosler the public knowledge and appreciation of such music by mÈ8ns ol public performat)ces. In shaping our objeclives for the year and planning our 8¢1ivlligs, thè Iruslees have considerod Ihe Charity Commission's guidance on public bÈnefit. including the guidance 'public bÉn8fil.' running a chaiily IPB21', The ¢harlty relies on Ihe income from lickel Sales, membership subscriptions, fundraising a¢livilies and olher charges lo Cover ils operating costs. Affordability and access lo our performances is important to us and is reflecled in our prieing policy. We endeavour lo encourage all lo lake part in our &c14Vities and lo allend our performances. The programm8 of gvenls Is deslgned lo be enjoyed by all. The stratégiès employed to achieve the charily's aims and tsbleclives are to= present a broad range of choial productions and performances ft>r the enjoyment and enlightènment of thè communily,. offer opportunities fof a bio8d range of people lo gel involved In choral music activities Iherèby explorin9 their own ctealive powers., provide f8cililigs for amateur and professional pgrform8rs and artists lo develop. ACHIEVEMENTS, PERFORMANCE AND PLANS FOR THE FUTURE Over this last yo8r, The Choir has rehearsed and performéd sevèral significant pleces which Showcase the continuing high vocal standard and musical dNersily of our portfolio. The Ghallenge remains lo champion the dèllvÈry of quality choial woJks whilst being mindful ol our financial posilion and budgelary reslrlclitsns. In April 2024, we hold a recital of Verdi's Requiem al LlvÈipool Cathedral and this was repeale(l in M8y 2024 in Guildlord, both of Ihpse events were promoled in many w8ys including a choir performing sections of Ihg piece oulside John Lewis in Liverpool Onè a weeks prior to Ihe concert itself. The opporlunily presented by Legacy monies held by the choii lo pèrfom) th6 Verdi Requiem on a sc3le and 81 standard in lerrns of 801oisls. orchestra and venue otherwise beyond our bLKlget, gave the choir a unique developrnenl opportunity and raised Ihe profile ol LWC in Merseyside and beyond. Th& fa¢1 that the Anglican Cathedral was sold out was an omazing achievement and result8d in significanlly less rel18r8 on Leg8w monleg lo balance the budget than h8d been anticipaled. This wncert and the subsequent performanco in Guildlord are excellenl examples of how LWC is meeting its Iwo key strategic objectives ol iaising Ils profile lo widen ils audience basè and reciuivretain membets. Thè reputalion ol the Choii is allia¢ltng other quality choirs and or¢he8lra8 lo wish to collaborate with LWC 81 no or mTnimal cost to LWC. Opportunilièg will be soughl to develop such collaborations and overtime expand the appeal ol Llverpool Welsh Choral. Once again, we have been proud lo allernpl lo show off our city and our very varied ¢hoial pertOIre. We ale indebted lo Ihose who have given Iheir lirne and Ènèrgy lo organise events which enhanGo our teputation, lo those who work to create a varied programme every 8ea8on, to those who look lo inuease our audience reach and, lo those who work hard al ftjndraising and sponsor8hip inili8lives l(tr miligale some of our oulgoings. Our n6wiy refreshed website and online lickellng plafforms are designed to increase bolh choir recniilmenl and audiencè Tèach. The resulls lor the year and rinanci81 position of Ihe charity are as showTr in the annexed financAal slalem8nls. R&seNos 81 Ihe year-end amounled lo £237.000, down from £261.872 representing a mod6st decrease in funds of £24,672. RESERVES POLICY AND GOING CONCERN Reservès are needed to bridge the gap between the spending and receiving of income and lo cover unplanned costs and olhaF expenditure. The trustees have establishéd 8 policy whereby the UT)reslricled fvfid5 not Gommllted or invested in langibl? fixed assets I'the free reserves'l héld by the charily should be bfjlwegn 72 and 24 months of the planned resources lo be expended, which equates lo beiweon 8pproximalely £120,000 to £240,000 in gèn8ral funds. Al Ihis level, thè trustees consider Ihal they would be oble lo wnlinue the curient activ11$ ol the charity in the evenl of a significant drop in funding. Al presenl the Iree reseN6S are marginally above this t8igg1 level and the Iruslees a consideiing the possible future expansion ol oper8lions for Ihe lulvre benefit of our benefi¢iaries, as circumsl8n¢e$ pefmil. In preparing tha accounts, ihe trustees consider Ih81 the Gharily has sufficient resour¢èg lo continu6 operaiions lor the loreseeablè future. RELATED PARTIES None of the Iwslees recelve remuneration or olher ftn8ndal benefit from Iheir work wilh the Charity 8nd any conlraclu31 relationship with a relaled parly musl be Lli8cIosed lo the full board of trustees. In IhÈ current yoar, no such Telaled patty transactions were reported.
LIVERPOOL WELSH CHORAL UNION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Liverpool Welsh Chor81 Union (which can Irace ils root5 back lo 1900118 an unlncoiporated trust and wa5 rogislered as a charily on 6 May 1969. The charity Is governed by the policies made from limè lo timè by the Irustees together wlth Ihe tèrms of ils Rules which sel oul Ihe aims and objects of the charity. The procedures for the appoinlmenl, reliremanl and removal of Irustees of the ch3ri1y are sèt out in the Rule8. All tr(leS are encoui3ged Its atlend appropriatè axlernal Iralnlng evenls where these will f8cilitate Iho Ltnderlaking of their role. RISK MANAGEMENT The Irusle8s have a risk managernenl slr8tegy which comprises.. an annual review of the prinGÉpal risks and uncert81111ies Ihal Ihe charity laces and., Ihe eslablishmenl of policies. systems and Pfoceduies to miligale those r*sks idenlifi8d In the annual ieview,. and the implernenlalion of prfKedures designed lo minimise or manage any potential impact on the haiily should those risks materialise. Financial $usl8lnabilily is the major fin8nci81 risk for the chaTily. A key element in Ihe management of financial ri8k Is a regulai review of available liquid funds lo séttlè dèbts as they lall due and aclive managemtrnl of incoming funds 8fKI credilor balan¢8s to ensure suffic¢enl workiTrg c8pilal Is avallable. Allenlion has 81s0 been focused on non-financial risks arising from health and safety. These rigks are managed by ensuring procedures and accrediialions are up to dalè, having robust policies and procedures In place, and regular awareness Iiaining for Iruslees and volunleers in these operaliornal aas. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are responsible lor preparing the Report tsf thè Tlustees and the financial statements irn aordanCe wilh applicable law and iegulalitsns. Charity law feovitÉs the Iruslees lo prepare financial s18lemenls for èach financial year. Undtrr Ihal law Ihe Irustees have elecled lo prepare Ihg finanoal statements in accordawjoe with United Kingdom Generally Accepted Accounling Practice (Uniled Kingdom Accovntirhg Standards and applicablè law). Undèr charity law the trustee5 tIlUs1 n(It approve the financial 81alemenls unles$ they are satisfied that they uivo a Ifue and lair view ol the siale of affairs of Ihè charY and of the nel movement In funds of the charity for that peviod. In pieparin9 Ihese financial stalemertls, tha tcustees are required to.. select suitable accounling pollcies and then apply them con8isl8nlly'. observe the method8 and prinGiples in Ihe Charities SORP., make judgements and estimates that are reasonable and prudent., stale whether applicable UK aGcounliny standards have been followed, sublecl lo any material departures disclosed and explained in the financial 81alements- prepare the finanual slalemenls on Ihe golng concern basis unless il 18 In8ppropriBle to presume Ihal the ch8rily will conlinue on Ihal basi8. The Iruslees are responsible ltsr keaping adequale accounting records that ar& sufficient lo show and explain the charity's Iransaclions and disclose wilh ieastsnable accuracy at any time thé fiancial posilion ol the charily and enable them to en8uie that Ihe financial slalemenls comply wilh the r8gulations. They are also re&ponsible for safeguarding thè assets of Ihe (hatty and hence for taking rèasonÈble steps for the prevention and delecllon ol fraud and other iriegularilies. ON BEHALF OFTHE BOARD OF TRUSTEES: W Evans Trustee 2311012024 P8g& 3
LIVERPOOL WELSH CHORAL UNION STATEMENT OF FINANCIAL ACTIVITIES FOR TItE YEAR ENDED 30 JUNE 2024 30.6.24 30.6.23 UnTe6trlcted Income Funds: Notes Income.. Donations and legacies 914 4,332 Income (om eharilable Bclivilies 68,704 32,499 Income from olher trading activities 1.871 1.272 Investment inwme 11 6.491 3,276 Total income 77,980 41,379 Expendlluré.. Cost of raising furKIs 1.582 1.433 Expendilure on charslable activities 10f,070 59,146 Total oxpgndituro 102.652 60,579 N8t movèmonl In funds for th& y&ar 124,6721 119.200) Reconclliation of funds Total funds broughl lorward 261,672 280.872 Total fund8 caTTi&d forward 237 000 261 672 The slalemtsnl ol finanual adlvillos Includes all gains and los$o8 ¥ecognised in Iho y&ar. All income and expendilure derive8 from conlinuiTrg 8cliviliB8. Page 4 The notes lorm parl of these firancial statemenls
LIVERPOOL WELSH CHORAL UNION BALANCE SHEET 30 JUNE 2Q24 30.6.24 30.6.23 Notes UNRESTRICTED INCOME FUNDS: FIXEO ASSETS Tangible assets 6,897 8,326 CURRENT ASSETS Debtors Cash at bank and in hand 4,044 230,08S 6,455 249,872 234,129 256,327 CREDITORS Atnounls falling due wilhin one year 2,981 NET CURRENT ASSETS 230 103 253,346 NET ASSETS 237,000 261,672 THE FUNDS OF THE CHARITY Unrestricled income funds 267,672 237,000 261,672 The fin4ndal slalements were approved by tho Truslees and aulhorised IOT issue on 2311012024 and re signed on their behalf by.. WEvans Truslett Page 5 The notes form part of these financial s18lemenls
LIVERPOOL WELSH CHORAL UNION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 LEGAL STATUS OF THE CHARITY Liverpool Welsh Choral Union is an unincorporaled Irusl, registered as a charity in England and Wales. The ¢harily'5 registe number and prin¢lp81 addrèss can b& lound on page 1. ACCOUNTING POLICIES The principal accounting policie5 adopted, ludgements and key sources of eslimalion un¢ertainly in Ihe preparation of Ihe financial slalemenls are as follows.. Basls of praparatlon The financlal slatemenls have been prepared in acco¥darnGo wilh Accounting and Reporting by Charities.. Slatemenl of Recommended Practice applicable lo charities PTepaiing Ihelr accounls in accordance wilh the Financial Reporling Standard applicable in the UK and Reb1[a ol Ireland {FRS 102) effective from 1 January 2019, the Financial Reporting Slandard applicablÈ in thè UK and Rèpublic ol Ireland IFRS 102) and the Charities Act 2011. Liveipool Welsh Choral Union meets the definition ol 3 pvblic bBnefit enlily under FRS 102. Assets end liabilities are inilially recognised at hislorical cost or Iiansaclion valuo unless otherwise stated in Ihe r8l¢vanl accounting ptsli¢y noles. Preparatlon of thè accounls on a going concern b88is In preparing lh8 accounts, Ihe Iruslees have laken account of the financi81 resourGes available lo the charity and consider that the charity should be able lo conlinue opEralions lor Ihe foreseeable future. The uncerlain economic outlook and willln9ness of the public lo purchase admissitsri tickéts is a significant area ol financial unrIa1n1Y which the Iruslees have miligated by reviewing thè programme of luture events and adopling a pricing policy that encourages btsokings lor performances. Income recognition Items ol income ar8 recognised and included in Ihe accounts when #ll ol thè following criteria are mel.. the ch8FIIy has entillemenl to the funds., any perfom)ance conditions allached lo the ilèmls) of income have been mel or are fully wilhin the control of the charity,. there is sufficient certainly that ¥eceipl of the income Is considered prob8bl8', and the amount can be m88sufed reliably. The economic value of lime and setvices provided by Voluntee has not been included in Ihe80 8c¢ounls. Fund accounting Unreslficled income funds are avall8bla to spend aclivities that further any of Ihg purptsses of the charity. Exp&ndlture recognition and Irio¢ov¢iable VAT Expènditure is recognised once there is a legal or ¢onslruclive obligalion to make 8 paymgnt lo a third party, il is probable that selllemenl will be Tequlred. and thè amount ol the obligation can be measured reliably. Iiiecoverable VAT is charged a5 a ¢ost against Ihe activily for wh¢ch the expendilufe was Incufied. T#nglblè flxèd assets Fixed assets are capilalised al cos1 and depreaialiori Is provided al the following annu81 rates in order lo wiile off each as3et over its eslimaled useful life- Library Slaging & Equipm&nt 254kn on redu¢lng balance 20¥0 on reducing balance NET MOVEMENT IN FUNDS The nèl movèmanl in lunds is slated after charging.. 30.6.24 30.8.23 Independenl examination and accountancy lees DepiÈciation- owned asseis Staff cosls 2,303 2,001 1.800 2,451 TAXATION The Ghaiity i¥ exempl from IBX on income and gains lo tho exlenl thal these are applied lo Its charitablè objects. Page 6
LIVERPOOL WELSH CHORAL UNION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 30 JUNE 2024 TANGI8LE FIXED ASSETS Llbrary Stsglng Equlpment Total$ COST Al 1 July 2023 Addilions 41,601 1,616 5.566 S73 48,783 573 At 30 June 2024 41,801 1,616 49,356 DEPRECIATION Al 1 July 2023 Charge for yèar 37,175 1,086 108 2,196 789 40,457 AI 30 June 2024 38,282 1,192 NET BOOK VALUE At 30 June 2024 3,319 424 3,154 6,897 AI 30 June 2022 4,426 503 3,370 8,326 DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.24 30.6.23 Recoverable Gift Aid Prepayments and accrued incorne 3,217 827 2,858 3,597 4,044 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.24 30.6.23 Accruals ANALYSIS OF MOVEMENTS IN UNRESTRICTED FUNDS Gtrnoial At 1 July 2023 represenled by nat 8sgets Income Expenditure 261,672 77,980 102 6521 AI 30 June 2024 represented by nel assets 237,000 TRUSTEE REMUNERATION AND EXPENSES Tho Charity Iiuslees were not pa£d, nor did théy receive any other benefils or expenses from Ihe charily12023 £nill. No chartly Irustee received paymèrnl for profèssional or other services supplied lo the ch8rily12023- £nill. Page 7
LIVERPOOL WELSH CHORAL UNION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 30 JUNE 2023 10. FRC ETHICAL STANDARD. PROVISIONS AVAILABLE FOR SMALL ENTITIES In common with many other ¢harilles ol our sixe and nature we use our Independent Examlner lo assist with Ihe preparalion ol the financial slalemenls. 11. INCOME AND EXPENDITURE SUMMARY Income: 30.6.24 30.6.23 DonalÈon$ and legacles: Donations & sponsorship Legacie$ 914 4,332 914 4,332 Income from ¢harltablè actlvities.. Ticket and programme sales & lees Mernbei & honorary member subscriplions Gift aid reclaims 40.229 25.249 13.434 16,207 858 68,704 32.499 Income from other tradlng actlvltles: Garment sales Music hi¥e 100 Club 106 872 893 28 204 1,040 1.871 1,272 Investment Incomo: Inleresl receivable Expendlture: Cost of ralslng funds- Purchases for resale and sloGks 100 Club prizes 1,102 480 833 600 1,582 1.433 Expandlture on charltable 8¢llvltles: Oreheslras, bands, arii8les & conduclors Venue & equipmenl hire Piinling. slalionery, prograrnma costs & adverts Music hire Rehèarstl. storage & meeling Space hilo Administrative support costs Chorus masters, lead vocalists & a¢companisls Subscriptitsns & insurances Bank charges Ac¢ounl8ncy & Independenl Exafflinalion Dèprèciation of tangible fixed assets Sundry expenses 16,111 50,796 4,988 1,869 5,115 5,944 10,719 360 84 2.30S 2,001 778 24,809 729 5,085 2,003 5,266 5,942 9.573 634 93 1,800 2.451 761 101070 102 652 Page 8
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIVERPOOLWELSH CHORAL UNION I report lo the Iruslees on my examinalion ol the accounts of LivÈrpool Walsh Choral Union for the yepi ended 30 June 2024 which are sel oul on page$ 4 to 8. This report is madè to the charily's Iwslees, as a body, in accordance with the terms of engag8manl. To the fullest exlenl permilled by law, I do nol accept or assume responsibility Its #nyono olhèr than Ihe trustees, as a b¢)dy, for my work or for this report. Responslljllltlgs and bast8 of rèport AS the chatily Irustees you ale iesponsible for the preparalion of the accounls in accordance with the requirements of the Charilies Acl 2011 I'lhe Act.), I report in respecl of my examination ol Ihe charity's accounts carried out Lrnder 8ectlon 145 of the 2011 Act and In carryirsg out my examinalion I have followed 811 the appticable Dlreclions given by the Charity Commlssion under section 14515llbl of the Act. Indépèndent 8xamlner'8 strdlgmont I have Completed my examinalion. I confirm Ihal no malerial matters have come lo my 8ttention in connection wilh Ihe examlnallon giving rne cause lo believe Ihal In any material respect.. accounting records were not kgpl in rèspeel of the charity as required by section 130 01 the Act.. or 2. Ihe accounts do nol accord with those re¢ords', or thè accotjnls do not comply with the applieable requirements concerning the form and ¢onlenl of accounts set out In lh& Charilies IAccounls and Reports) Regulations 2008 olhbr Ihan any requiremenl that the accounts give a'lrue and lair vie which not a matter considered as part of an indepandenl examlnallon. I have no concerns and have come acro58 nu other mallers in connection with the examinalion lo whlch attention should bè drawn in this report in or(Jer to enable a proper under8t8ndlng ol th8 accounls to be reached. Kelth Miller FCA John Kerr. Chartgrod Accountants 375 Ealon Road West Derby Liverpool Merseyside L12 2AH 08111r2024 Page 9