Charity I'egistralion number.. J06012 The Galpin Society Annual Report and Financial Statements tor the Year Ended 31 March 2024 Batch¢lor Coop Liinited Tlie New Barn Mill Lane Easti'y Sandwich Kent CT13 OJW
Tbe Galpin Society Contents (continued) Reference and Administrative Detai15 2to4 Ti'UStees' Repoil Independent Examinei's Report Statement of Financial Aciivitics Balance Sheet Notes lo the Financial Stateiments 8t0 12
The Galpin Society Reference and Administrative Details Charity Registration Number 306012 Prlncipal Office 24 Gloucesrer Road Teddington Middlesex TWII ONU Independent Examiner Balchelor Coop Limited The New Bw'n Mill Lane East17 Sandwich Kcnt CT13 OJW Page I
The Galpin Society Trustees, Report The tIsteeS pi'esent (he annual I'epoit Logethcr with the tinancial statements ol- thc chw'ity toi. the year ended 31 March 2024. Objeetlves and actlvities Objecls and aipns l To proniute ihc sludy ol. the histoiy, constructiuii and funciiolls of musical instruments. 2 To turLliei' I'eseur¢li l?y Ili¥ publicalion ol. a.joui'iial 3 To propagate knowledge of instrumental hisloly by any oiher means Public benejll The charity ha5 met all its objectives set out above in 2020121 and in doing so th¢ trustees believe the chai'ity has provided public benefit. Th¢ LlllStLes confirm Ilial Lhey liavc Luimplied witl) the rLClUiI'¢meiils of section 17 of the Charities Act 2011 10 hsive due I'egai'd to the public b¢ncl il biuidiinLe published [))' IhL C'hai'ity Commission foi. EnglaF]d and Wales. Achievements and performance The LoiMI)iilLee was able ¢0 meet by Zooni on the usual four occassions with ongoing discussions between offieLI's conducted as necessary. The So¢iL>Ly'S Annual General Meeting was held on Zoom in which repoits on the Society's activities were pi'esented. I'IIL Joui'nal li)r 20?.3-24 pulili.%liLd ii) Mdi'LII LiiidLI' Ilikn Ldili)1'4liip i)I' T)I' l..unce WliilellLi< d and l)r MibhdLI lemiiig oi'¢'r8cuiiig iliL Inake-up aiiLI pi'iiiiiiis. (.'liris (yUI)diviii. Adiiiii)1.4li'&ini'. as4i4lLd iviil) IhL di.4(I'il)LIIic)11 whicli knc)nlinuLd i(? pi'L%ciil i)(Trslcil pi'()blems 8iliLL 14rLiiI .8uLh Els l)()n-¢ll'l'ival nf sevLral d()/.en ci)PiCs. 'I'hrL i$SUL8 of IhL N¢w?IcllL'r were prDduLLd L)iilinc iiiider ihL edil01ship of Dr Lance Whitehead. MatLLI'S L)I' di4eussion during ihe ve£ir iiicludcd issuing a PDf i.'ci'si0ii of IliL .l(iuriiJl a8 &ili addili()ii or iiii lici'nuLivL to IhL papLI' ,l()Lll'n&il li)r i¥hiLh u11 1)nline p()11 ol. Inei)iliLrs wiis L'()IiLILiIILLI: Ihis $11(>ll'Ld ihiii InJnv ivLI'¢ iii Ilivour l?ut nol to IhL' ¥Kcliisioii vl. LIIL PitPLI' Joui'ndl. It abll'LLd Ili.. i&kc elTLLi foi. the year 2024-25. Plans were discussed l()I' IIIL l()I'iliL(Iiiijii4 C'cinl¥i'LlILL lo lal<L pluLL' Jl tlie FdLuliy ul'Mu.%ic, University ol. Oxtord. in June 2024. F.5cLIi(1115 WCI'L licld Ji Ihe ACTM which api)oinicd T)r Kireii Loomis as ReviLi¥S Ldili)I': Di. Cag¥aiidi'e Baloss0-Bai'diii. T)r Sabii)c Klaus: Di. 141'<idlL'V 811'auclnLn-SLIiL'I'Lr iiiid Miiiii Wail/.nitsn M'LI'L LIL¥ied d5 CumniilleL MLml)eiE lind -l-rLislLes in plncc of lJrol-. (sabrielc R(18si Riiyiii)ni i%,li() lid coniplclLd his PLrivd or serviLL Ulidei. thL' Lel'ms (If ihL SoLietv's RulLS Jnd Re¥ulali()iis i)r Pi'oi¢dui'e. Mai'k BalLhLlI)r L)1'14iilLhcli)I' Co()i? was elected as Independent Examiner (Accounis}. Financial review Policy on reserves l.laviiig expei'iLnLLd finanLi81 difficuliies in the past, IhL uflicci's and ¥onimillc¢ membei's liuvc decided i() I'itL1in Sufficient resLIVf5 tt) cnsiii'e the chai'ity will not cNpei'ici)ce suLh diifiLuliies in Llic liiliii'i. Flowei.'Ir Llie cornmiitce is currently considei'ing the ILN'el of resci've.s thal UI'L i)eLLicd lor the long tci'm and M'a?.8 in wliich future fuiids Can be used to enliance the Lhai'itable olije¢iS of ihe society. Jnveslmenipolicy ond objec'lives The ollicers have adopted a conseiTr'&ilii'e appi'n&iLh to tlie investments of the charity and accordingly funds not nccded foi. cui-rciit expiiiditure have bL'en invcsled with the Charities Aid Foundation. Page 2
The Galpin Society Trusttts, Report (continued) Trustees and officers The trustses and officers serving during the year and since the year end were as follows. Trnslees.. Dr Graham Wells. Chairnian Dr Lance Whitehead. Editor Dr Bradlcy Strauchen-schcrcr M5 Mimi Waitzman Mrs Diana Wells. Archivist and Minutes Secrelary Prof Arnold Myers, Vice Chairynan Prof Gabriele Rossi-Rognoni, Committee member (resigned 24 June 2023) Mr Owen Woods, Committee member Dr Alice Little, Committee member Dr Rachael Durkin. Committee member Dr Simon Waters. Committee member Dr Cassandre Balosso-Bardin (appointed 24 June 2023) Dr Sabine Klaus (appointed 24 June 2023) Dr Karen tA)omis, Reviews Editor (appointed 24 June 2023) Strncthre? governance gnd management Nllre ofgoverning documenl The Society wa5 founded in 1946 and is governcd by rulcs which were adopted in April 1973 and am¢nded in 2017. Recn4ilmenl and appoinlmenl oflruslee RL¥I'Liilment L}I' Lolxllllltrc meinbLfs with sufficient spare liixe to devote to fonvai'ding) the aiinb Oi the soci¢ty b¢u()mc,% prf.)gi'LS4lkLly Irore diifiLult. The present comniiltee aiid board of Lrustees luigicly comprises pr()lessiL?iial orgcinologi.s1.%. Inducllon andiraining oftrustees Two new committee members joined the committee this year and and the charity implemented its procedure5 for acquainting new trustees with their responsibility as a trustee. Page 3
The Galpin Society Trustees, Report (continued) Statement of Trustees, Responsibilliles The tti]stees are responsible foi- preparing the truSeS, report and the financial statemertis in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accouniing Practice) and applicable law and regulations. The law applic&ble to Lharitics requires the trustces to pi'epare financial statments for each financial year which givr a truc and fair vicw of thc slatc (If affairs ot- thc charily and of the inLoming resources and appliLation of rcsourccs of thc charity for that PLI'iod. In prcparing th¢se financial st8temciits, thc Lrustces are rcquired to: Select suitablc accounting policies <ind then apply them consistcnily. observc the mcthods and prinLipl&s in the Charitics SURP- makc judgcmenLs and e.stimates that arc Itasonable and prudent. state INhether applicable accounting .standard.s have been followed. subject to any material departures disclosed and explained in the financial statements. and prepare th¢ financial statements on the going concern basis unles5 it is inappropriate ¢0 pi'esumc that the chai'ity ivill continue in business. The tru.st¢es are responsible foi- keeping proper accounting records that disclose wilh reasonable accuracy at any timL IhL liiiancial i)i)silioi) ol. IhL charity and enable them to ensure that the financial statements comply with the Clidi'iEILS ALI 2011. Ilie C'liai'ities (Accounts and Reporls) Regulations 2008, and the provisions ot the con8tiliitiDii. I he irusLeL5 ai'L ulso responsible for .%alcgLiui'ding the assets of the charity and henc¢ for taking reasonablc steps foi. the pi'cvention and detection of Ii'dud and othei. irregulai'ilies. The trustees are responsible for the maintenance and integrity ot. the corporate and financial inl(?rinniion included on the ch-itable company's website. Legislalioi) goiierning the prepai'alion and dissemiiiuli(In of financial statements may differ from legislation in other jurisdictions. The annual report ivas approved by the trustees of the charity on 13 June 2024 and signed on ils behalf by- r Graham Wells Trusiee Page 4
The Galpin Society Independent Examiner's Report to the trustees of The Galpin Society I report to the trustees on my examination ol- the accounts ot The Galpin Society tor the year ended 31 March 2024. Responsibllities and basls of report As the ehai-ity trusLees of The Galpin SocieLy you are responsible for the preparation of the accounts in acLordance with the requirements of the Charities Act 2011 {'the Act,). I rcport in respcLI ot my examination of the 'fhc Galpin Socicty's accounts cari-ied out undcr section 145 of the 2011 Act and in carrying out my examinaLion I have followed all the applicahle Ilirection.s given by Ihc Charity Cofflmission undcr scction 145{5){b) ot-the ALI. Independent examiner's statement I have complcted my cxaininatinn. I contirm thdl no material mattcrs have come to my atlcnlion in ¢nnncction with the examination giving me cause believe that in any material respect: accounting records ivcrc not kept in rc5pecL of The Galpin Society as required by section 130 of the Acl or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting I'equirements concci'ning the form and conten¢ of accounts sel out in Ihe Chai-ilies (Accounts and Repoitsl Regulations 2008 other than any requiremet)i 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 liave come across no oihcr matters in connection with the examination lo which attention should be diawn in this report in ol'der to enable a proper understanding of the accounts to be reached. Mai'k Bat¢heloi' BSC. FCA. ICAEW TheNew Bai Mill Lane EasLry Sandwich Kcnt c'r13 OJW 14 June 2024 Page 5
The Galpin Society Statement of Financial Activities for the Year Ended 31 March 2024 Unrestrleted Restrieted nds Total 2024 Not¢ Ineome and Endowments from: Donation5 and legacies Charitable aLtivitics Investmcnt income 21,970 5.461 362 21,970 5.461 362 Total Incomc 27,793 27.793 Expenditure Charitable activities Govcmancc costs (17,6161 (14,627) {250) (17,8661 (14,627) Total Expenditure Net movement in funds (J2.2431 (2501 (32,4931 (4,450) {250) (4,700) Reeonciliation of funds Total funds brought forward Total funds carried foiivard 8.031 43,788 12 7.781 39,088 Unre5trlcted funds Restricted fund5 Total 2023 Note Income and Endowments from: Donations and legacies Charitable activities Investment income 21,671 6.022 49 21,671 6,022 49 Total Income 27,742 27,742 Expenditure on- Chdrilable activities CJOVCI'nancc Cubts (16,740) (9.623) (250) (16,990) 19.623) Total E.'xpendilurc (26,3631 12501 (26,6131 Nel movement in tund5 1.379 1250) 1.129 Reconciliation of funds Total funds brought forward 8.281 42.658 Total funds CTled foiiwai'd 12 i5.756 8.031 43,787 All of the charity's activities dei'ive from continuing operation5 dtsring the above two periods. The funds breakdown for 2023 is shown in notc 12. The notes on pages 8 to 12 form an integral parl of these financial statements. Page 6
The Galpin Society (Registration number: 306012) Balance Slieet as at 31 March 2024 2024 2023 Note Current &5sets Stocks Debtors Cash at bank and in hand 1,800 7,026 38,539 2,050 975 411.789 io 47.365 51,814 Creditors: Amounts falling due wlthin one year Net assets (8.277) (8.027) 39.088 43.7%7 Funds of the charity: Restrleted income funds Restricted funds 7,781 8.031 Unrestricted ineome funds Unrestricted rtdS 31.307 35.756 Total funds 12 39,088 43,787 The financial statements on pages 6 to 12 were approved by the trust¢¢s, and authorised for issu¢ on 13 June 2024 and signed on their behalf by: P//LbA Truscee Mrs Diana We115 Trnstee The notes on pages 8 to 12 form at) integral part of these financial statements. Page 7
The Galpin Society Notes to the Financial Statements for the Year Ended 31 March 2024 l Aecountlng policies Statement of compliance 'I"lie l inaiiLial stoiLmeni.s lidV¢ been prepared iii aL¢ui.dance wilh the sc¢iind editiot) of the Cliai'ities Statement of R¢comincnded I'i'iiLIiLC i55U¥LI in OLlI)bcr 201 Y. thL. F'indnci411 Rcpi)rting Standard applicLihle in the United Kingdnm and RepubliL ol- Ii'eland I I-RS 1021 and LIIL L'.harities ACL 2011. Basls of preparatlon Tlie Criilpin Si)eiety m¢els the definition of a public benefit entity unclLr FRS 102. The accounts Ifsnancial .stulLiiiciil%) liavc beeli pi'cpai'c(l under the historical cost conventioi) will) iteins recognised at cost or trat)s&ction value unless otherwise stated in the relevant note(s) to these accounts. Going concern The trustees consider that therc are no material uncertaintie5 about the charity's ability to continue as a going conceim. Income and eDdowmeDts Vnluiilaiy inc(1111c ii1Lludiiio dcitilI()l1%. gin%, legLILICS &iid grants that either provide ¢<)re tundiiig or is of a genli'al naLUI'C IS I'LL01715L H'li¥n lh¥ Lhai'il), lias iiiiiilLnient to the income, it is probul)IL thai the income will be I'CLeiiied aiid Ilie ¢imounL L1< 11 hc mLasured iiiiili sun Icient reliability. DonaÉlons and legaeles Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be Irliably measured. Deferred iHcome DLfLI'i'ed income represL'I)15 aniuunts received for future periods at)d is released to in¢omiiig Irsources in the pcriud foi. which. it h&5 b¢Ln I'eLcived. Such income is only deferred when- The membership subscription Irceived relates to the subscription year following the year of receipt. Expeiidilure ALI LIPLlldiiure is ircognised once ihere is a Icgal or Lon%tructiVL ()bliga¢ion to that expenditui'e, it is probable setilement is required and the amount can be measui'ed relithl)ly. All costs al-e allocated to the applicable ¢%pciidiLure licading LliaL tiegi'Lg?alc similai. costs to that ¢atcEJ(11's'. Where costs cani)o¢ be directly aLtI'ibu¢ed to purticular hcadings IliLv Iiave bLen alloculed on & basis con5i.4lenL With ihe use of resources. with central staff LU.4ts dllGLal¥d uii Ihc basis (If liiiie spent. and depreciation chargcs allocated on the portion ol. the asset's use. Othei. support costs are allocated based on the spread of staff costs. Charitoble activliies Charitable expenditure ¢ompi'ises thus¢ Lusts inLui'i'ed by th¢ Lharity in the delivery of ils uLlivilies anLI serviL¥S for its benefi¢iarie5. It includes both ¢os(S thai can be allocatcd dii-ectly Cc, such activities and those costs of (Ili indirect nature necessary to support them. GraNIprnvislons Provisions for grant5 are made when the it)tention to m&kc a gran¢ has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of 8rant payable. Page 8
Th¢ Galpin Society Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Governance eosts Thesr includ¢ the costs attributable to thc charity's compliance with constitutional and statutory requirements. inLluding iiudit. .8tratcgic management and Iruslce.s mcctings and reimbursed expcnses. Stock Stock 15 valued at the lower of cost and cstimaicd yclling price Icss Costs to Loinplelc and sell. after duc regard tor obsnlelc and sluw moving stocks. Cost is diterniiiicd u.sing thc firsi-in. fir.st-(IUL (FIFO). Cash and cAsh equivalents C.'ash i& lid ¥u%h cquivalents comprise cash on hand and call d¢tK)sils, and nihei- short-IL'riii highly liquid iiii'eslincnl.8 Lli4iL are readily ronvLI'iible to a knoMry] amount of and al'e subj¢LI to an in%i&Jnificant risk of LhangL iii valuL. 2 Income from dona¢ion5 and legacies Unrestricted funds Tot41 2024 Total 2023 General Donations and subscriptions: Donations Membcrship subscriptions Open acLCSS 1,489 18.981 1.500 1.489 18.981 1.500 975 19,197 1.499 21,970 21.970 21,671 Unrestricted funds General Total funds Donations and legacies: Donations from individuals Regular siving and capital donations Total for 2024 1.489 20,481 1,489 20,481 21,970 21,970 Tot41 for 2023 21,671 21,671 Page 9
The Galpin Society Notes to the Financial Statements for the Year Ended 31 Marcb 2024 (continued) 3 Income from Charitable &etivitles Unrestrlct¢d fuDds General Total nds Royalties Sales of back numbcrs Advertising rwenuc 5,027 34 400 5.027 34 400 5.461 Total for 2024 5.461 6.022 6.022 Totsl for 2023 4 1uvestm¢nt Income Unrutricted funds General Total funds Interest receivable and similar income; Interest receivable on bk deposits Total for 2024 362 362 362 362 49 49 Totsl for 2023 S Trustees remuneration and expellses During the year the charity made the following transactions with trustees: Dr Lanc¢ Whit¢htad Dr Lance Whitehead received remuneration of £5.483 (2023: £5.517) and £240 (2023: £Nil) of cxpenses wcre rcimburscd to Dr Lance Whilehead during the ycar. Dr Lance Whitchead was elected a5 Vice Chairman ofThe Society on 3 Junc 2017. Prior to the appointment he previously h¢ld the posi¢ion of Editor of the Journal which is a remunerated pc)siti(In. I IL Lunliniied to pci'fui'm the fuiicLion ol. F".ditor aftei. hi% appointment as VicL Chairmtti) aiid while I'¢LLiviiig no I'eiiiunei'uiion for Eiiher of his roses of Vic¢ Chairian L)I' Iriistee he coniinucd to rcLLiVC remunerulioii li)I' the role of Editor. Mrs DlaDa WelLs £568 (2023.. £322) of expenses were r¢imbur5ed to Mrs Diana Wells during the year. Mrs Wells r¢ceived reimbursement of postage costs incurred in her rol¢ os Archivist and Minutes Secretary Page 10
The Galpin Society Notes to the Finanelal Statements for the Year Ended 31 March 2024 (continued) 6 Independent examlner's remullération 2024 2023 Other fees to examiners Examination-rclatcd assurance services 726 809 7 Taxydtion The charily is a regist¢r¢d charity and is thereforc cxempt from taxation. 8 Stoek 2024 2023 Stocks 1.800 2,050 9 Debtors 2024 2023 Accrued income 7,026 975 Accrued income relates lo Gift Aid tax ivhich is due to be reclaimed for the year. 10 Cash and cash equlvalents 2024 2023 Cash at bank 38.539 48,789 I I Creditors: amounts falling due withln one year 2024 2023 Accruals Deferred income 1,399 6,878 828 7.199 8277 8.027 Pagell
The Galpin Society Notes to the Flnancial Statements for the Year Ended 31 March 2024 (eODtinued) 12 Funds Balanc¢ at I Aprll 2023 Incoming resources Resources expended Balance at 31 Mareh 2024 Unrestrlcted funds Gen¢r81 35,757 27,793 132,243) (250) 31,307 Restrleted funds 8,031 7,781 Total funds 43,788 27.793 {32,493) 39.088 Balance at I April 2022 Inti)ming resources Resources expended BalAnee at 31 March 2023 Unrthricted fund5 Unrestrirted general fiJnds 34.377 27,742 (26,363) 35.756 Restrlcted funds 8.281 1250) 8.031 Total funds 42.658 27,742 (26.613) 43.787 Pagc 12