RICHMOND CONCERT soaErY Re8b¢ered Charity No. 289897 Trustees. Annual Report for the Financial Year to 31 May 2022 The Society is a registered Charity and Trust. Its object, as set out in the Society's constitution, is to promote, improve and develop appreciation of the art of music in all its aspects by the presentation of concerts and recitals and by such other ways as the Society, through its Committee, shall from time to time decide. Normally in each season Iseptember to the following lulyl, the Society holds around 10 concerts of a varied nature at three different venues within the London Borough of Richmond upon Thames. Having only achieved three in the previous year os a result of the Covid-19 lockdown, we were delighted to be able put on 10 again. The Society is governed by an Executive Committee of Trustees whose names are listed below. The principal office of the society is the address of the Hon. General Secretary, 7 Pine Wood, Sunbury-on- Thames, TW16 4QR. New members may be co-opted to the Committee duringthe year selected from the existing membership of the Society- All committee members are subject to election or re-election at the Annual General Meeting. Elected committee members constitute the Trustees of the charity. The Trustees during the year were Michael Alexiou. M8rie Denivelle. Nilda Ginn, Margaret Hewitt. David John, Maurice Parry-wingfield, Evelyn Richardson, Helen Thresh and Jill Warner. In contrast to the previous year's large increase of £16,521. the Society's investments and deposlts showed only a modest increase of £3,203 in the year, representing dividends and interest earned of £4,751 and a £1,548 fall in the market value of investments. This was shared amongst the specific funds and the General Reserve. The Income and Expendlture Account showed a surplus of £4,266. At the year end the General Resetve stood at £75,311. The Society makes an annual award to commission a work by a composition student, which is to be premiered after the Annual General Meeting. The award of £2,000 is financed by the Muriel Dawson Fund. The award for 2022 has been given to Elliott Park who is composing a special piece for the Society. In the year, the Society received a legacy of £IO,(JKJ and made a donation of £2000 to a major musical charity that promotes young artists. The Trustees have reviewed the major risks to which the Society is exposed and their financial reserves policy, particularly in the light of the previous two seasons, Covid-19 emergency. In 2018-19 they had taken the decision to reduce the General Reserve of the Society. Steady progress is being made in this and, although the level was more or less unchanged in the year we are reporting on, it is intended to continue this policy. The trustees consider the General Reserve of £75.311 to be sufficient for the foreseeable future to enable the Society to continue to fulfil its object as set out in the first paragraph above. Signed on behalf of the Trustees on l July 2022. Maurice Parry-wingfield Ichairmanl Nilda Ginn (Treasurer)
RICHMOND CONCERT SOCIErY Registered Charity No 289897 BALANCE SHEET on 31 May 2022 31 May 2021 CURRENT ASSETS Investments COIF Fixed Interest Fund COIF Investment Fund COIF Paul Woodhouse Fund 35,181 84,694 14.477 134353 39.517 102,037 14,347 155,902 Deposlts Redwood Bank COIF Deposit 61.682 12,671 74.353 61,082 8,520 69,602 Cash Funds Uoyds Bank Current Cash 29.959 152 30,111 6,999 43 7.043 Other Current Assets Expenditure in advance 7C 2,305 Less CURRErir UABILITIES Income in advance -2,400 237,117 -2,000 232,851 NET ASSETS REPRESENTED BY: Restrlcted Funds Muriel Dawson Fund Paul Woodhouse Fund Hazel Watson Fund 5,400 14,477 8,852 28.730 9.287 14,347 8,746 32,380 Llnrestrlcted Funds Young Artist5 Fund Mary Ryan Fund wr Bryant Fund Richard Oake Fund Robert Stoker Fund Howard Greenwood Fund 39,270 22.347 41,421 5.492 15,546 9,000 133,076 38,797 23,067 40,923 6,414 16,347 125,548 General Reserve Total Reserves 75,311 237,117 74,923 232.851 * Please see the Movement of Funds report within Notes (Note 21 Approved by the trustees and authorised for issue on l July 2022 and signed on thelr behalf bv: N Ginn (Treasurer) Parry-wlngneld Ichairmanl
RICHMOND CONCERT SOCIETY Registered Charity No 289897
INCOME AND EXPENDITURE
| INCOME Membership Fees Friends Sponsorships Donations Gift Aid recovered Guest admissions Programme sales Refreshment donations Bank/COIF interest COIF dividends Other income EXPENDITURE General admin Publicity Artists' fees Venue hire Piano hire & piano insurance Streaming costs Insurance and Performing Rights Fees Programme costs Refreshment costs AGM costs Howard Greenwood Memorial Concert Bank charges incl Direct Debit Muriel Dawson Award Donations Other expenditure Surplus/deficit before market value adjustments COIF market value adjustments Total surplus for the year* |
2021-2022 £ 22,515 2,950 4,950 1,355 1,491 2,080 1,986 454 614 4,137 10,620 53,153 547 1,726 24,590 2,430 6,182 1,000 695 2,945 19 254 2,358 154 2,000 2,000 437 47,338 5,814 -1,549 4,266 |
2020-2021 £ 90 2,150 4,000 1,580 1,278 0 0 0 772 4,497 0 14,367 1,112 1,193 12,525 100 1,276 2,040 469 0 0 0 0 17 2,000 6,000 84 26,817 -12,450 11,252 -1,198 |
|---|---|---|
- Unrealised loss/gain
RICHMOND CONCERT SOCIETY Registered Charity No 289897
Notes to the accounts for the year ended 31 May 2022
- 1 The accounts are prepared on the Receipts and Payments basis. Expenditure in advance and Income in advance are shown separately for added clarity.
The investments are re-stated at market value.
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2 Money is transferred out of restricted and unrestricted funds into the General Fund in order to make a contribution to the named concerts as stipulated by the fund restriction, and in the case of unrestricted funds, as decided by the Committee.
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These amounts include income from investments as well as unrealised market value gains.
| Total | |||||
|---|---|---|---|---|---|
| surplus | * Additions | Allocation | |||
| B/fwd | for the year | to funds | from funds | C/fwd | |
| Restricted Funds: | |||||
| Muriel Dawson Fund | 9,287 | 113 | -4,000 | 5,400 | |
| Paul Woodhouse Fund | 14,347 | 544 | -413 | 14,477 | |
| Hazel Watson Fund | 8,746 | 106 | 0 | 8,852 | |
| Unrestricted Funds | |||||
| Young Artists Fund | 38,797 | 472 | 0 | 39,270 | |
| Mary Ryan Fund | 23,067 | 281 | -1,000 | 22,347 | |
| WT Bryant Fund | 40,923 | 498 | 0 | 41,421 | |
| Richard Oake Fund | 6,414 | 78 | -1,000 | 5,492 | |
| Robert Stoker Fund | 16,347 | 199 | -1,000 | 15,546 | |
| Howard Greenwood Fund | 0 | 10,000 | -1,000 | 9,000 | |
| General Reserve | 74,923 | 4,266 | -12,291 | 8,413 | 75,311 |
| Totals | 232,851 | 4,266 | 0 | 0 | 237,117 |
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3 No remuneration or expenses were paid or were payable during the year to any trustee other than the reimbursement of expenses borne on behalf of the Society.
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4 There were no staff costs during the year. The position of lndependent Examiner is honorary.
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5 Income and market value adjustments resulting from all our investments are allocated on a pro rata basis to the General Reserve and the various Funds (except the Paul Woodhouse Fund which is subject to different rules).
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6 Last year’s accounts did not show the contribution of the Muriel Dawson Fund to the Composition Award. This year we are showing both last year’s and this year’s contributions.