Annual Report and Financial Statements for the Year Ended 31 May 2024
## Music in Ministry Trust
Charity registration number: 299513
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
## **MUSIC IN MINISTRY TRUST**
## **CONTENTS**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 12|
## **MUSIC IN MINISTRY TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Trustees**
Francis Wirgman Michael Whyatt Allen Cherry Elizabeth Whyatt
**Charity Registration** 299513 **Number Principal Office** 37 The Spinney Epsom Downs Surrey KT18 5QX **Independent Examiner** G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF **Bankers** CAF Bank 25 King's Hill Avenue King's Hill West Malling Kent ME19 4JQ
Page 1
## **MUSIC IN MINISTRY TRUST**
## **TRUSTEES' REPORT**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 May 2024.
## **Structure, governance and management**
## _**Nature of governing document**_
Music in Ministry Trust is a registered charity, number 299513, and is constituted under a Trust deed.
## _**Recruitment and appointment of trustees**_
The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Trust deed.
## _**Risk management**_
The trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
## **Objectives and activities**
## _**Objects and aims**_
The main object of the charity is the advancement of the Christian faith through the support of the music ministry of Bryn Haworth.
## _**Public benefit**_
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
## _**Review of activities**_
The Trust continues with its object of the advancement of the Christian faith.
It continues to develop its work inside prisons in the UK, providing music resources and donating Bibles, books, and CD's to support the work of prison chaplaincy departments.
The Trust produces CDs and videos in support of this work.
## **Financial review**
Income for the year amounted to £40,335 (2023 - £27,274) and expenditure £42,577 (2023 - £27,808). The deficit of £2,242 decreased reserves brought forward with unrestricted fund balances being £16,816 (2023 - £19,058) at the year end.
Page 2
## **MUSIC IN MINISTRY TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## **Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
## **Statement of Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- 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 accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that 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 Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.
The annual report was approved by the trustees of the charity on 21 September 2024 and signed on its behalf by:
......................................... Francis Wirgman Trustee
Page 3
## **MUSIC IN MINISTRY TRUST**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MUSIC IN MINISTRY TRUST**
I report to the trustees on my examination of the accounts of Music in Ministry Trust for the year ended 31 May 2024.
## **Responsibilities and basis of report**
As the charity trustees of Music in Ministry Trust 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 Music in Ministry 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 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 Music in Ministry Trust 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 accounting 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.
...................................... G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
21 September 2024
Page 4
## **MUSIC IN MINISTRY TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2024**
|**Note**
**Unrestricted**
**funds**
**£**
**Income and Endowments from:**
Donations and legacies
2
40,308
Investment income
27
Total income
40,335
**Expenditure on:**
Charitable activities
3
42,577
Total expenditure
42,577
Net expenditure
(2,242)
Net movement in funds
(2,242)
**Reconciliation of funds**
Total funds brought forward
19,058
Total funds carried forward
9
16,816|**Total**
**2024**
**£**
40,308
27
40,335
42,577
42,577
(2,242)
(2,242)
19,058
16,816|**Total**
**2023**
**£**
27,253
21|
|---|---|---|
|||27,274|
|||27,808|
|||27,808|
|||(534)|
|||(534)
19,592|
|||19,058|
The notes on pages 7 to 12 form an integral part of these financial statements. Page 5
## **MUSIC IN MINISTRY TRUST**
## **BALANCE SHEET AS AT 31 MAY 2024**
|**Note**
**Fixed assets**
Tangible assets
6
**Current assets**
Debtors
7
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
8
**Net current assets**
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
9|**2024**
**£**
4,095
4,095
182
12,906
13,088
(367)
12,721
16,816
16,816
16,816|**2023**
**£**
2,626|
|---|---|---|
|||2,626|
|||2,167
14,838|
|||17,005
(573)|
|||16,432|
|||19,058|
|||19,058|
|||19,058|
The financial statements on pages 5 to 12 were approved by the trustees, and authorised for issue on 21 September 2024 and signed on their behalf by:
......................................... Francis Wirgman Trustee
The notes on pages 7 to 12 form an integral part of these financial statements. Page 6
## **MUSIC IN MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Music in Ministry Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## _**Gift aid**_
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## _**Interest receivable**_
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Page 7
## **MUSIC IN MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (CONTINUED)**
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## _**Grant provisions**_
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
## **Tangible fixed assets**
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
|**Asset class**|**Depreciation method and rate**|
|---|---|
|Fixtures and fittings|25% reducing balance|
|Computer equipment|25% straight line|
|Musical equipment|25% reducing balance|
|Office equipment|25% reducing balance|
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Liabilities**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Page 8
## **MUSIC IN MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (CONTINUED)**
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the discretion of the trustees.
## **2 Income from donations and legacies**
|Donations and legacies;
Donations
Gift aid reclaimed|**Unrestricted**
**funds**
**General**
**£**
38,362
1,946
40,308|**Total**
**2024**
**£**
38,362
1,946
40,308|**Total**
**2023**
**£**
25,086
2,167|
|---|---|---|---|
||||27,253|
## **3 Expenditure on charitable activities**
|**Note**
Ministry expenses
Recording costs
Tour expenses
Computer, postage, printing and
stationery
Music equipment
Bank charges
Sundry expenses
Independent examination
Depreciation
Grant funding of activities
4|**Unrestricted**
**funds**
**General**
**£**
13,453
15,715
634
2,377
189
62
111
510
1,441
8,085
42,577|**Total**
**2024**
**£**
13,453
15,715
634
2,377
189
62
111
510
1,441
8,085
42,577|**Total**
**2023**
**£**
14,639
1,850
148
1,395
-
68
87
510
1,038
8,073|
|---|---|---|---|
||||27,808|
Page 9
## **MUSIC IN MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (CONTINUED)**
## **4 Grant-making**
## **Analysis of grants**
**Grants to institutions 2024 2023 £ £** Grants 8,085 8,073
## **5 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **6 Tangible fixed assets**
|**Cost**
At 1 June 2023
Additions
At 31 May 2024
**Depreciation**
At 1 June 2023
Charge for the
year
At 31 May 2024
**Net book value**
At 31 May 2024
At 31 May 2023
**7 Debtors**
Accrued income|**Fixtures**
**and fittings**
**£**
1,264
-
1,264
1,262
1
1,263
1
2|**Computer**
**equipment**
**£**
3,330
-
3,330
3,253
77
3,330
-
77|**Music**
**equipment**
**£**
17,912
2,910||**Office**
**equipment**
**£**
251
-||**Total**
**£**
22,757
2,910|
|---|---|---|---|---|---|---|---|
||||20,822||251||25,667|
||||15,365
1,363||251
-||20,131
1,441|
||||16,728||251||21,572|
||||4,094||-||4,095|
||||2,547||-||2,626|
||||||**2024**
**£**
182||**2023**
**£**
2,167|
Page 10
## **MUSIC IN MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (CONTINUED)**
|**8 Creditors: amounts falling due within one year**
Accruals
**9 Funds**
**Balance at**
**1 June**
**2023**
**£**
**Incoming**
**resources**
**£**
**Unrestricted funds**
**_General_**
General Funds
19,058
40,335
**Balance at**
**1 June**
**2022**
**£**
**Incoming**
**resources**
**£**
**Unrestricted funds**
**_General_**
General Funds
19,028
27,274
**_Designated_**
Recording fund
564
-
**Total funds**
19,592
27,274|**2024**
**£**
367
**Resources**
**expended**
**£**
(42,577)
**Resources**
**expended**
**£**
(27,244)
(564)
(27,808)|**2023**
**£**
573|
|---|---|---|
|||**Balance at**
**31 May**
**2024**
**£**
16,816|
|||**Balance at**
**31 May**
**2023**
**£**
19,058
-|
|||19,058|
Page 11
## **MUSIC IN MINISTRY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 (CONTINUED)**
## **10 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
4,095
-
13,088
-
(367)
-
16,816
-
**Unrestricted**
**funds**
**General**
**£**
2,626
17,005
(573)
19,058|**Total funds**
**at 31 May**
**2024**
**£**
4,095
13,088
(367)|
|---|---|---|
|||16,816|
|||**Total funds**
**at 31 May**
**2023**
**£**
2,626
17,005
(573)|
|||19,058|
Page 12