RICHMOND CONCERT SOCIETY Reeistered Charity No. 289897 Trustees, Annual Report for the Financial Year to 31 May 2023 The Society is a registered Charity and Trust. Its object, as set out in the Society's constitution, is to promote, improve and develop appreclation of the art of music in all its aspects by the presentation of toncerts and recltals and by such other ways os the So¢iety, through its Committee, shall from time to time decide. Each season (September to the following July), the Society holds chamber music concerts of a varled nature at vensjes within the London Borough of Richmond upon Thames. The Society is governed by an Executive Committee of Trustees whose names are listed below. The prlncipal office of the society IS the address of the Hon. General Secretary, 7 Pine Wood, Sunbury-on-Thame5, TW16 4QR. New members may be co-opted to the Committee during the year selected from the existing membership of the Society- All committee members are subject to elettion or re-election at the Annual General Meetlng. Elected committee members constitute the Trustees of the charity. The Trustees durlng the year were Michael Alexiou. Marie Denivelle. Nilda Ginn, Margaret Hewitt, Davld John, Mike Langley. Evelyn Richardson, Helen Thresh and Jill Warner. The Society's intome Is prlmarlly from membership fees. There 15 a Friends. Scheme which is now tlosed to new members, but it continues to generate an income. In addition the Society receives spon50rship5 from individuals and local companies. From time to time it receives legacies, mainly from members who have enjoyed the socletrfs offerlngs during their lifetime. SocieV5 reserves are invested and this also generates an Income. Expenditure is mostly for artists, fees. piano hire and the annual composition award of £2,5CKI, which is financed by the Murlel Dawson Fund. During the year. the society Put on 10 full length conterts and made a composition award to a young composer who was Commissioned to compose a piece for the Society. Thi5 piece was performed after the AGM in July* at a half length concert. The Society a150 made 3 donation of £IOOO to a musical charity that promotes young artists. The Society's Investments and deposits showed an increase of £4,610 in the year, representing divldends and interest earned of £5,869 and a £1,259 fall in the market value of investments. This was shared amongst the societls funds and the General Reserve. The Receipts and Payments account showed a surplus of £5,970. At the year end the General ReseNe stood at £85,793. In previous years, the Trustees took the decision to reduce the General Reserve of the Society. This has not been possible in the past year. The Trustees have reviewed the results for 2022-23 and have concluded that income vs expenditure will record a small increase in 2023-24. Any substantial reduction of the General fleserve will only be achieved by making donations which are in line with our chèritable airns. This Is currently being consldered by the Trustees. The Trustees have developed a Reserves Policy which will be reviewed regularly along with the two other policles of governance, namely the Risk Pollcy and the Safeguarding Policy. Signed on behalf of the Trustees on 6 July 2023. Mike Langley Ichalrmanl Nilda Ginn (Treasurer)
RICHMOND CONCERT SOCIETY BALANCE SHEEr on 31 May 2023 31 May 2022 CURRENT ASSETS Investments COIF Fixed Interest Fund COIF Investment Fund COIF Paul Woodhouse Fund 34387 104332 14374 153094 35,181 84,694 14,477 134,353 Deposits Redwood Bank COIF Deposit 63100 17122 80222 61,682 12,671 74.353 Cash Funds Lloyds Bank Current Cash 9607 164 9771 243,087 29.959 152 30,111 237,117 NET ASSErs REPRESENTED BY: Restricted Funds Muriel Dawson Fund Paul Woodhouse Fund Hazel Watson Fund 3,254 14,374 9,023 26.652 5,400 14,477 8,852 28.730 Unrestrirted Funds YourFg Artists Fund Mary Ryan Fund WT Bryant Fund Richard Oake Fund Robert Stoker Fund Howard Greenwood Fund 40.027 22,778 40,220 4,598 14,846 8.174 130.642 39,270 22,347 41,421 5,492 15,546 9,000 133.076 General ReseThe Total Reserves 85,793 243,087 75.311 237,117 Please see the Movement of Funds report wlthin Notes (Note 21 Approved by the trustee5 and authorised for issue on 6 July 2023 and signed on their behalf by.. N Ginn (Treasurer) M Langley Ichairmanl
RICHMOND CONCERT SOCIETY
RECEIPTS and PAYMENTS
| RECEIPTS Membership Fees Friends Sponsorships Donations Gift Aid recovered Guest admissions Programme sales Refreshment donations Bank/COIF interest COIF dividends Legacies Other income PAYMENTS General admin Publicity Artists' fees Venue hire Piano hire & piano insurance Streaming costs Insurance and Performing Rights Fees Programme costs Refreshment costs AGM costs Attending scouting concerts 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* |
2022-2023 £ 23,820 2,400 9,100 1,550 1,075 2,550 2,596 1,408 1,757 4,111 0 0 50,367 1,018 2,309 24,900 1,400 2,924 0 1,169 3,184 519 693 567 0 187 2,250 1,250 768 43,138 7,229 -1,259 5,970 |
2021-2022 £ 22,515 2,950 4,950 1,355 1,491 2,080 1,986 454 614 4,137 10,500 120 53,153 547 1,726 24,590 2,430 6,182 1,000 695 2,945 19 254 0 2,358 154 2,000 2,000 437 47,338 5,814 -1,549 4,266 |
|---|---|---|
- Unrealised loss
RICHMOND CONCERT SOCIETY Registered Charity No 289897
Notes to the accounts for the year ended 31 May 2023
- 1 The accounts are prepared on the Receipts and Payments basis. Receipts and payments which took place this year, were previously shown in the Balance Sheet as ‘Income in advance’ and ‘Expenditure in advance’. These are now shown in current year’s figures, eliminating these two categories.
The investments are still re-stated at market value.
- 2 Income and market value adjustments resulting from all the investments are allocated on a pro rata basis from the General Reserve to the various Funds. (Transfer from GR to Fund).
Money is transferred out of restricted and unrestricted funds into the General Reserve in order to make a contribution to the named concerts as stipulated by the terms of the fund, and in the case of unrestricted funds, as decided by the Committee (Allocation to GR from Fund).
| Total surplus | Transfer from | Allocation to | |||
|---|---|---|---|---|---|
| B/fwd | for the year | GR to fund | GR from fund | C/fwd | |
| Restricted Funds: | |||||
| Muriel Dawson Fund | 5,400 | 104 | 2,250 | 3,254 | |
| Paul Woodhouse Fund | 14,477 | 316 | 419 | 14,374 | |
| Hazel Watson Fund | 8,852 | 171 | 0 | 9,023 | |
| Unrestricted Funds | |||||
| Young Artists Fund | 39,270 | 757 | 0 | 40,027 | |
| Mary Ryan Fund | 22,347 | 431 | 0 | 22,778 | |
| WT Bryant Fund | 41,421 | 799 | 2,000 | 40,220 | |
| Richard Oake Fund | 5,492 | 106 | 1,000 | 4,598 | |
| Robert Stoker Fund | 15,546 | 300 | 1,000 | 14,846 | |
| Howard Greenwood Fund | 9,000 | 174 | 1,000 | 8,174 | |
| General Reserve | 75,311 | 5,970 | 3,157 | 7,669 | 85,793 |
| Totals | 237,117 | 5,970 | 0 | 0 | 243,087 |
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3 No remuneration or expenses were paid during the year to any trustee other than the reimbursement of expenses borne on behalf of the Society. This year a scheme has been introduced which allows the members of the Music Committee to claim, up to a maximum value, for scouting, i.e. for attending concerts in order to assess artists for engagement.
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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 The investment units sold in 2021-22 to lock in the market value increase have been repurchased during 2022-23. The value of the purchase was £20,000.
Independent examiner's report to the trustees of Richmond Concert Society IA non-company charity preparing receipts and payments accounts) with a gross income of £250,000 or less in the relevant financial year. A charity registered in England no. 289897 I report to the trustees on my examination of the accounts of the Richmond Concert Society (the Trust) for the year ended 31" May 2023. Responsibilltles and basls of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the Trust'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 Chaflty Commission under section 14515llbl of the Act Independent examinerfs statement I have completed my examin3tion. 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.. l. accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or 2. the accounts do not accord with those records. I have no concerns and have come across no other matters in connection with. th.e examination to which attention should be drawn in this report in order to enable a proper understanding of the acrounts to be reached. Signed.. rne.. Barry John Harrison of 58 Arundel Road. Kingston upon Thames, Surre¥ KT13RZ th Date= 30 June 2023