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2024-07-31-accounts

Charity registration number 287969

THE WOOBURN SINGERS

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

THE WOOBURN SINGERS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mrs D Hoult Ms L Favager Dr MHB Thomas

Charity number 287969 Principal address

Stable Cottage Finch Lane Knotty Green Beaconsfield Buckinghamshire HP9 2TL Pink Affinity Limited The Clock House Station, Approach Marlow Buckinghamshire SL7 1NT

Independent examiner

THE WOOBURN SINGERS

CONTENTS

Page
Trustees report 1
Independent examiner's report 2
Statement of financial activities 3
Balance sheet 4
Notes to the financial statements 5 - 8

THE WOOBURN SINGERS

TRUSTEES REPORT

FOR THE YEAR ENDED 31 JULY 2024

The Trustees present their annual report and financial statements for the year ended 31 July 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's [governing document], the Charities Act 2011 and "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

The object of the Society shall be to promote, improve, develop and maintain public education in and appreciation of the art and science of choral music in all its aspects by the presentation of public concerts or for such other purposes as shall be exclusively charitable as the Committee may from time to time decide.

Achievements and performance

Financial review

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Trustees who served during the year and up to the date of signature of the financial statements were: Mrs D Hoult

Ms L Favager

Dr MHB Thomas

Supplier payment policy

The charity's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The charity's current policy concerning the payment of trade creditors is to:

● settle the terms of payment with suppliers when agreeing the terms of each transaction;

● ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and

● pay in accordance with the charity's contractual and other legal obligations.

There were no trade creditors of the charity at the year end.

The Trustees report was approved by the Board of Trustees.

..............................

Mrs D Hoult Chair

.............................. .............................. Ms L Favager Dr MHB Thomas Treasurer Secretary

Date: .............................................

THE WOOBURN SINGERS

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE WOOBURN SINGERS

I report to the Trustees on my examination of the financial statements of The Wooburn Singers (the Charity) for the year ended 31 July 2024.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Pink Affinity Limited

The Clock House Station, Approach Marlow Buckinghamshire SL7 1NT

Dated: .........................

THE WOOBURN SINGERS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2024

Notes
£
£
Income from:
Donations and legacies
Charitable activities
-
Total income
Expenditure on:
Charitable activities
3
Net income/(expenditure) for the year/
Net movement in funds
6,800
2024
2,200
2,200
funds
Restricted
2024
13,412
funds
21,678
35,090
15,768
Unrestricted
Fund balances at 1 August 2023
Fund balances at 31 July 2024
991
1,209
8,009
7,030
28,060
22,798		 funds
2022
£
10,435
14,425
24,860
29,632
(4,772)
20,140
15,368

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

THE WOOBURN SINGERS

BALANCE SHEET

AS AT 31 JULY 2024

Notes
6
7
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within
one year
Net current assets
Income funds
Unrestricted funds
Restricted funds		 £
2024
(250)
76
30,981
31,057		 £
30,807
22,798
30,807
8,009		 £
2023
1,438
(250)
21,380
22,818		 £
22,568
15,768
6,800
22,568

The financial statements were approved by the Trustees on .........................

.............................. .............................. ..............................
Mrs D Hoult Ms L Favager Dr MHB Thomas
Chair Treasurer Secretary

THE WOOBURN SINGERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

1 Accounting policies

Charity information

The Wooburn Singers is a charity providing to educate the public in the arts and sciences and in particular the art and science of music.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE WOOBURN SINGERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

1 Accounting policies

(Continued)

1.5 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE WOOBURN SINGERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

3 Charitable activities

Cost of programmes
Conductor's fees and expenses
Musicians' fees
Venue hire
Music hire / purchase
Publicity, programme printing
PRS fees
Rehearsal costs
Sundry expenses		 £
604
272
457
2024
3,936
2,804
1,649
2,278
12,711
3,348
28,060
28,060		 £
369
468
194
2023
3,129
4,760
2,405
1,976
3,173
12,994
29,468
29,468

4 Employees

There were no employees during the year.

5 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

6 Debtors

Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 £
-
2024
76
76		 £
1,388
50
2023
1,438

THE WOOBURN SINGERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

7
Creditors: amounts falling due within one year
Notes
8
8
Deferred income
Deferred income
Other creditors
Accruals and deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 August 2023
Released from previous periods
Deferred income at 31 July 2024		 £
£
£
-
-
-
-
-
100
150
250
-
2024
2024
2024		 £
100
-
150
2023
250
£
-
2023
£
-
2023
155
(155)
-

9 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).