Charity registration number.. 306012 The Galpin Society Annual Report and Financial Statements for the Year Ended 31 Mar¢h 2025 Batchelor Coop Limited The New Bam Mill Lane Easlry Sartdwich Kent CT13 OJW
The Galpin Society Contents (continued) Reference and Administrative Details Trustees, Repoi't 2to4 Independent Examinci-'s Repoil Statement of Financial Aclivities Balance Sheet Notes to the Financial Statements 8t0 12
The Galpin Soclety Reference and Administrative Details Charlty Registratlon Number 306012 Prlnelp41 OffJc¢ 3 Dol¢ey Way Sharnbrook Bedtord MK44 ILE Independent Examlner Batchelor Coop Lirnited The New Barn Mill Lane Eastsy Sandwich Kent CT13 OJW Page I
The Galpin Society Trustees, Report The Iruslees present the annual report together with the financial statements ol- the chai'ity t-or the year ended 31 Mai'ch 2025. Objectives and aetivities Objects and aims l To promote the study of the history, consti'uclioii and functions of musical instruments. 2 To tui'ther I'esearch by the publication ol. a joui'nal 3 To propagate knoivledge of ins¢rumental histoiy by any o¢her means Publlc benefil The charity has met al l its objectives set out above in 2020121 and in doing so the ti'ustees believe the charity has provided public benefil. The trustees confirm that they have complied with the requii-emeiits of section 17 of the Charities Act 201110 have due I'egai'd to the public benefit guidance published by the Chai'ity Commission foi. England and Wales. Achievements and performAnte The 76th AGM of che Galpin Society was held in Oxford on the 29 June 2024 and, following the retirement of Graham Wells after 27 yeai's due to il I health, Di. Rossi Rognoni ivas ¢le¢ted Chaii'man of the Trustees. The appointment was foi. one year only, with a pai'ticulai- remit of revising the Society's electoral rules in Ol'der ¢0 encoui?ge a more active participation by UK and international members who could not attend the AGM in pei'son. During the year the Committee held foul. meetings lo discuss pi-ioi'ilies for the upcoming year and ¢0 oversee the pi-oduclion of the Journal. The report by Mimi Wailzman and Bradley Strauchen-Schei'ei- on procedures used by similar socie¢ies led to the idenlificalion ot elements to be moditicd in the cui'renl Rules and Regulations aili¢les 7 and 8, last updated in 2017. The proposed new Rules will be pi'esenled and the election of tlie Chair of the Society will take place at the 77th AGM on the 8 September 2025. The Galpin Society Journal was published in Mairh 2025 and included 12 articles with plates and over 245 pages. The distribution and postal problems in 2023 had been largely overcome by the Administrator and the pi'inters with a considerable saving on I'epeat mailings. Three issues of the Neivslettei. were published in 2024-25. With deep regi'et, the Committee received the I'esignation of the Joui'nal and the Newsletter Editor, Di.. Lance Whitehead, due to ill health. The Committee approved the appointment of an Editoi'ial Board for the Journal, foi'med by the Chair and four Committee members (Rachael Dui'kin, Kai'en Loomis, Cassandre Balosso-Bai'din, Simon Waters) and by one Appointed Officei., Arianna Rigamonti. A new Newsletter Editor will be appointed at the next meeting of the Committee. Finaneial review Policy ON reserves Having expei'ienced financial diffieuliies in the past, the officei's and committee membei's have decided to relain sufficient reserves to ensui-¢ the chai'ity will not experience such difficulties in the futui'e. However Ihe committee is currently considering the level of I'eserves that are needed for the long leiin and ways in which future funds can be used to enhance the Chai'itable objccts of the society. Page 2
The Galpin Society Trustees, Report (continued) Investmen¢policy and objectlves The officers have adopted a conservative approach to the investments of the charity and accordingly funds nol needed for current expenditure have been invested with the Charities Aid Foundation. Trustees and officers The trustees and officers serving during the yeai. and since the year end wei'e as follows- Truses: Prof Gabriele Rossi-Rognoni, Chairman (appointed 29 June 2024) Dr Cjraham Wells (resigned 29 June 2024) r)r Bradley Scrauchen-schei'er Ms Mimi Waitzman Mrs Diana Wells, Ai-chivisc and Minutes Scci-etaiy Prof Arnold Myers, Vicc Chairman Mr Owcn Woods, Committee mcmbei. Dr Ali¢e Little, Committee membei. Dr Rachael Durkin, Commit¢ee membei. Dr Simon Watei's, Committee member Dr Cassandir Balosso-Bardin Di. Sabine Klau5 Dr Karen Loomis, Reviews Ediloi. Structure governance and management Ivalure ofgoverning document -rhc Society was founded in 1946 and is govcrned by rulcs which wci'e adoptcd in April 1973 and Inended in 2017. Recruilmenl and appoin(menl of Iruslees Re¥iui¢ment of comniiltee membei',¥ with sufficiLiil spare time to devote to forwai'ding the aims of the society beciimes progi'e.%givcly mol-e dil'licult. The pi'esrnt committee and boai'd ot. ti'ustees Iw'gely compi'ises prof¢ssional organologists. Inducllon and Irnlnlng of Irustees Two new committee membei's joined the committee this year and and the chai'ity implemenied its procedures for acquainting new trustees with their responsibility as a ts'ustee. Pug¢ 3
The Galpin Society Trustees, Report (continued) Statemtnt of Trustees, Responsibilities The trustees are responsible for preparing the trustees, report and the financial 5tatcmcnts in accordance with the United Kingdom Accounting Standards (United Kingdom Genei'ally Accepted Accounting Pi'actice) and applicable law and regulations. The law applicable lo chai-ities I'equii'es the Iiwslees lo pi'epait financial slalemenls for each financial year whi¢h give a true and fair view of the stace of affairs of the charity and of the incoming I'esources and application of resoui'ces of the chai'ity tor that period. In prepai'ing these financial statements, the Iruslees al'e Irquii'ed to: select suitable accounting policies and then apply them consistently. observe the methods and pi'inciples in the Chai-ilies SORP- mak¥ judg¥ments and estimates that are reasonable and prudent- tate whether applicable accounting standards have been followcd, subjcct Io LLny maLrri&l departures disclosed and explained in the tinancial slatcmcnts. and pr¥pare the financial statements on the going concci'n basis unlc5s il is inapprupi'ialc to pi'egume that the charily will continue in husines.s. The Cru.stces arc rcsponsibl¢ for keeping proper accounting records that disclose with reasonable accuracy at any time thc financial position of the ¢harily and enable them to ensure that the tinancial 5tatcm¢nts comply with the Charities Act 2011, (he Chai-ilies (ALcount5 and Rcports) Regulations 2008, and the provisions of the on51ilulion. The trustees are also responsible tor safeguarding the a55ets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irirgularities. The trustee5 arc responsible for ¢he maintenance and inlegrity of the corporatc and financial information included on the charitable company's website. Legislation governing the pi'eparation and dissemination of rinancial slalemenfs may differ fix)m legislation in othei. jurisdictions. The annual I'eport wa5 approved by the Injslees ol- the cl)arity on 14 July 2025 and signed on its behalf by,, Pru Gabriele Ro. l-Iwst¢e i-Rognoni Page 4
The Galpin Society Independent Examiner's Report to the trustees of The Galpin Society report to the trustees on my examination of the accounts ot The Galpin Society foi. the y¢ai' ended 31 March 2025. Responsibllltles and basls of report As the charity trustee5 of The Galpin Society you are responsible foi. the preparation of the accounts in accordance with the requirement5 of the Charities Act 2011 ('Ihe Acl'l. I report in respect of my examination of the The Galpin Society's accounts cari'ied out under Section 145 of the 201 l Act and in cairying out my examination I have followed all the applicable Directions given by the Charity Commission undei. section 14515)Ib) of the Act. Independent examiner'5 statement have completed my examination. I contirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accountir)g records wei'c noL kept in respect of Thc Galpin Society as I'equired by section 130 of the Act. or 2. the accounts do not accoi'd with those IE¢ords' or 3. the Counts do not comply wilh the accounting requirements con¢ei'ning the form and content ot. accounts set out irt th¢ Charities (Accounts and Reports) Regulations 2008 other than any I'equirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examin&lion. have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in ol'der to enable a piDper understanding of che accounts to be reaGhed. Mark Batcheloi. BSC. FCA, ICAEW The New Barn Mill Lane Eastry Sandwich Kent CT13 OJW 15 July 2025 Page 5
The Galpin Society Statement of Financial Activities for the Year Ended 31 March 2025 Unrestricted funds Restrlcted (unds Total 2(b25 Note Ineome and FJndowments from: Donations and Icgacics Charitahle activities Invc5lmcnt income 21,742 5.544 377 21,742 5,544 377 Total Inci)me 27,663 27,663 Expenditure on: Chdrilablc aLlivilies Goveimance costs (17,968) (12.045) (261) (18,229) {12,045) Total ExpendiLure (30,013) (261) (30,274) Nec movement in ndS (2,350) (261) {2.611) Reconciliation of fund5 Total fi]nds bi'ought forward 3 1,3117 7,781 39,088 Total funds cai-ried forward 12 28.957 7.520 36,477 Unrestrlcted filnds Restricted funds Total 2024 Note Income #nd Endowments from: Donations and legacies Charitable activities Investment income 21,970 5.461 362 21,970 5.461 362 Total Income 27,793 27,793 Expenditure on: Charitablc aLtivities Gov¥rnance costs {17,616) (14,627) (250) (17.866) (14.627) Total Expenditurc 132,243) {25U) (32.493) Net movement in tunds {4,450) {250) (4,700) Reconciliation of funds Total funds brought forward 35,757 8,031 43,788 Total funds carried foiivard 12 31,307 7,781 39,088 All of the charity's activities dei'ive fi'om continuing operation5 during the above two periods. The funds breakdown for 2024 is shown in note 12. The notes on pages 8 10 12 foi'm an inC¢g171 parl of ihese financial stalemenl5. Page 6
The Galpin Society {RegAstration number: 306012) Balance Sheet as at 31 March 2025 2025 2024 Nots Currtttt asstts Stocks Debtors C8th at bank and in hand 1.6Crf) 966 43.251 45.S17 1,8th) 7.Q26 38,539 47.365 10 Credhors: fallln2 due wi¢hln ont ye¥Jr Ntt w¢ti 9.340 8,27 36.477 39,088 Funds ofthe ehArity'. Restrl¢t¢d IncoA funds Restri¢ted funds 7.520 7,781 UnTtstrieted ineome fuDd8 Uniestri¢ted funds 28.957 31.307 Total funds 12 36.477 39.088 The fthancial statements on pages 6 10 12 were appmved by the trustees. and authoris¢d for issue on 14 luly 2025 and signed on their behalf by: Pro GubriclE Rus lee Mr5 Diatta Wélls Tn]ste¢ The notes on pa8es 8 to 12 fonn art int¢8Tal part of these financi staternents. Page 7
The Galpin Society Notes to the Financial Statements for the Year Ended 31 March 2025 l Accounting poli¢ies Statement of compliAnee The financial statements havc been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019: the Financial Repoiting Standard applicable in the United Kingdom and Republic of Ii'eland (FRS 102) and the Charities Act 2011. Basis of preparation Thc Galpin Subicty meets Ihe definition of a public benefit entity under FRS 102. The accounts (financial slatemcnts) have been prepared under the historical cost convention with items recognised at cost oi. transaction value unless otherwise stated in the I'elevant notels) to these accounts. GuiDg coneern Thc tistCcS consider that ihci-e are no material unccrlainlics about the charity'5 ability to continue as a going concern. Income and endowments Voluntary income including donations. gifts, legacies and gr&nLq that either provide corc funding ur is of a gen¢i-al nature is rccognised when the charity has enlitlemenl lo the income, 1¢ is probable tha¢ th¢ income will be received and Ihe amovnl Can be measured with sutficient I'eliability. Donftilons and legficies Donations and legacies are I'ecognised on a receivabl¢ basis when receipt is probable and th¢ amount can be I'eliably measured. Deferred ineome Defei'red income represet)ts amounts received for future periods and is released to incoming I'esources in the period for which, it has been I'eceived. Such income is only deterred when.. The membership subscription I'eceived relates lo the subscription year following the year of receipt. Expenditure All expcndilui'e is I'ecognised once tliei-e is a legal oi. eoiistructive obligation Lo that expenditui'e, it is probable settlement is I'equircd and th¢ amount can be measui-ed rcliably. All co£ts are allocated to the applicable cxpcndiLurc heading that aggrcgatc simi lai- Losls to that category. Wherc costs. Ldnnot be directly actl-ibulcd to particular headings they have heen allocatcd on a basis Gonsistent with the usc of rcsuurces, with central staff costs allocated nn the basis ol. limc spcnti and depreciatinn chargcs alloLdtcd on the pnrtion of the a5scI's use. Other support C051s air allneated based on thc spi'cad of slaff LosLs. Chffrilahle uclivities Charitable expenditure compi'ises those ¢0515 incui'red by the ch'lty in the deliveiy ot. its activities and s¢1ryices for its beneficiaries. It includes both costs that can be allocated direc¢ly lo such activities and those costs of an indirect nature necessaiy to support them. Grunlprovisions Provisions for grants are m9de when the intention to make a grant has been communicated to th¢ recipient but there 15 uncertainty about eiihei. the timing of lh¢ 81-ant or the amount of grant payable. Page 8
The Galpin Society Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) Governance eosts These includ¢ the costs atlribulable to the chaj'ity's compliance with constitutional and statutory requirements, including audit, Strategic management and trustees meetings and reimbursed expenses. Stock Stock is valued &t the lower of cost and estimated selling price less costs to complete and sell. after due I'egard tor obsolete and slow moving stocks. Cost is detrniined using the tirsl-in, fii'st-oul (FIFO). Cash And cash equivAlents Cash and cash equivalents comprise cash on hand and call deposits. and other short-term highly liquid investments thal al'e readily conveitibl¢ lo a known amount of cash and ai'¢ subject lo an insignificant I'isk of change it) value. 2 Income from donatlons and legacies Unrestricted funds TotAI 2025 Total 2024 General Donations and subsci'iption5' Donations Membership subscriplionB Open access 1,015 19,977 750 I,ois 19.977 750 1.489 18,981 1,500 21,742 21,742 21,970 Unrestricted funds Gencral Total funds Donations and Icsacies. Donations fiDm individuals Regular giving and capital donations Total for 2025 1,015 20,727 1.015 20,727 21,742 21,742 Total for 2024 21,970 Page 9
The Galpin Society Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 3 IDcome from ch&rlt4ble aetlvitles Unrestrieted funds Gener41 Total funds Royalties Sales of back numbers Advertising revenue 4,848 174 522 4,848 174 522 TotAI for 2025 5,544 5.544 Total for 2024 5,461 5,461 4 Investment income Unrestricted nds General Total funds Interest receivable and similar incomc- Interest receivablc on bank deposits 377 377 Total for 2025 377 377 Total for 2024 362 362 S Trustee5 remuueration and expenses During the year the charity made the followins transactions with trustees.. Mrs Diana Wells £349 (2024.. £568) of expenses were reimbursed to Mrs Diana Wells dui'ing the year. Mrs Wells received reimbursement of postage costs incurred in her role as Archivist and Minutes Secretary Page 10
The Galpin Society Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 6 Independent examlner's remuneratlon 2025 2024 Other fees to examiners Examination-rclatcd as5uranLC scrvices 912 726 7 TaxAtlon The charity is a registered charity and is therefore exempt fiDm taxation. Stock 2025 2024 Stocks 1,600 1,800 9 Debtors 2025 2024 Accrued income 966 7,026 Accrued income relates lo Gift Aid lax which is due Co be reclaimed for the year. 10 C&5h and cash equivalents 202S 2024 Cash at bank 43,251 38,539 I I Creditors: amounts fallinE due within one yeAr 2025 2024 Accruals Deferred income 864 8,476 1,399 6,878 9,340 8.277 Pagell
The Galpin Society Notes to the Financlal Statements for the Year Ended 31 March 2025 (continued) 12 Fund5 Balance ut J Aprll 2024 Incoming r¢$our¢es Resoijrces expeiideil Bal4llc¢ at31 March 2025 Unrestricted funds JLllLral 31,307 27,663 (30,013) 28,957 Resii'lcted funds 7,781 (261) 7,52Q TotAI fund5 39,088 27,663 (30,274) 36,477 Balgnce at I April 2023 Incomlng rOUrceS Re4oufLCS expended Balance at 31 March 2024 Unrestricted funds Unrestricted general funds 35,757 27,793 132,2431 31,307 Restrleted fuMd5 8,1131 25()) 7,781 Total thnds 43,788 27.793 132.4931 39.088 Page 12