THE ABINGDON MUSIC CENTRE TRUST FINANCIAL STATEMENTS 31 AUGUST 2023
Charity Number 309181
THE ABINGDON MUSIC CENTRE TRUST
FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
CONTENTS PAGE Trustees Annual Report 1 Independent Examiner’s Report on the accounts 7 Receipts and Payments accounts 8
THE ABINGDON MUSIC CENTRE TRUST
TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2023
Section A Reference and administration details
Charity name THE ABINGDON MUSIC CENTRE TRUST
Other names charity is known by
Registered charity number (if any) 309181
Charity's principal address LARKMEAD SCHOOL, FARINGDON ROAD
ABINGDON-ON-THAMES OXFORDSHIRE Postcode OX14 1RF
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
|---|---|---|---|---|
| Amena HASSANALI- SUTTON |
Chair | |||
| Jim HINES | ||||
| RosemaryBRUCE | ||||
| David RIDDLE | ||||
| Anne NEWTON | ||||
| Jonathan Mark BENTLEY |
||||
| LucyEmma WEBBER | ||||
| Stephen Wilson | Appointed 25.5.23 | Resigned 24.10.23 | ||
Names of the trustees for the charity, if any, (for example, any custodian trustees)
Name Dates acted if not for whole year
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THE ABINGDON MUSIC CENTRE TRUST
TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2023
Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) |
|---|---|---|
| Type of advisor Name Address |
||
| Independent Examiners | Vineyard Accountants | 5 The Chambers, Vineyard, Abingdon-on-Thames, OX14 3PX |
| Name of chief executive or names of senior staff members (Optional information) | ||
Section B Structure, governance and management
Description of the charity’s trusts
Type of governing document Declaration of Trust dated 1[st] October 1973, as varied by scheme of 5[th] (eg. trust deed, constitution) June 2001, as amended 16[th] June 2015, as amended 7[th] February 2019. How the charity is constituted The Trust is an unincorporated organisation. (eg. trust, association, company)
Nominated by existing Trustees having consideration of relevant Trustee selection methods experience, interests, skills and likely contribution following discussion (eg. appointed by, elected by) with nominee.
Additional governance issues (Optional information)
You may choose to include The Trustees regularly review the major risks the Trust faces. Insurance additional information, where and Health and Safety issues are assessed annually. relevant, about: • A Trustee is nominated to act in the event of child safeguarding Policies and procedures concerns and to make referrals to the local authority's child protection adopted for the induction and training of trustees. team.
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The charity’s organisational structure and any wider network with which the charity works.
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Relationship with any related parties.
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Trustees’ consideration of major risks and the system and procedures to manage them.
Where relevant all Trustees and teaching staff are DBS checked. All trustees give their time voluntarily and receive no remuneration or benefits. Expenses may be paid.
Potential new Trustees are identified and have a conversation with the Chair to explain the post and give the incoming trustee an opportunity to assess the post. This is followed by attendance at the next Trustees’ meeting and agreement of the appointment, subject to completion of formal paperwork which includes our code of practice and other relevant matters including conflict of interest and the gathering of references. Induction, training and support are undertaken by the Chair together with other trustees as needed.
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THE ABINGDON MUSIC CENTRE TRUST
TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2023
Section C Objectives and activities
Summary of the objects of the charity set out in its governing document
To establish a centre for the performance teaching and appreciation of music both to children and adults to increase their knowledge understanding and love of music and their ability to play music to the most advanced standings of which they are capable.
Summary of the main activities undertaken for the public benefit in relation to these objectives (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)
Abingdon Music Centre Trust was established to make music available as widely as possible within the local community for both adults and children. The Trust runs music classes throughout the year and provides opportunities for local music makers and teachers to use its premises for music making.
The Trust has taken note of, and had regard for, the guidance on public benefit issued by the Charity Commission and uses it to help with its current and future planning. Benefits to the public are real, and do not harm others. Access to benefits is unrestricted within practical constraints relating to the premises used. Disabled access is available at our activities.
We charge fees for our activities but hold those fees at the lowest possible levels consistent with continued solvency. The Trust runs music classes throughout the year for all age groups. We work with, schools and care homes for older people to enhance benefit to others. The Trust provides the opportunity for local music makers and teachers to use its premises for music making. The Trust worked with the community of Abingdon through contributions to events in the town and our community groups have made various public performances which have showcased our provision and provided enjoyment to the public.
Additional details of objectives and activities (Optional information)
You may choose to include further statements, where relevant, about:
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policy on grantmaking;
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policy programme related investment;
Volunteers make an important contribution to Abingdon Music Centre, they give their time freely and we are grateful for their support.
Any surplus funds at the end of the year are retained by the trust to help further its aims.
- contribution made by volunteers.
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THE ABINGDON MUSIC CENTRE TRUST
TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2023
Section D Achievements and performance
Summary of the main achievements of the charity during the year
Particular emphasis is given to early music development, with classes running every weekday for children under school age. The Trust, as in previous years, provided administrative support to the Frances Kitching Trust (Registered Charity 259127) and provided opportunities for young school-age musicians. Of particular note is our primary school project undertaken with local partners. Orchestral days involving over 200 children were held in January and May and ongoing outreach events take place throughout the year in associated primary schools.
Section E Financial review
To ensure continuity of classes and facilities general reserves are held Brief statement of the charity’s at the level of three month’s salary costs and one year of premises policy on reserves commitments. Additional funds are constantly sought for the purchase and maintenance of musical instruments and equipment and for specified projects. Some funding obtained is specifically restricted to the purpose described below. At the 31st August 2023, total reserves stood at £33,937 (2022 - £34,302), which was made up of unrestricted funds of £30,846 (2022 - £33,526) and restricted funds of £3,091 (2022 - £776). Unrestricted reserves can be spent and are used in accordance with charitable objectives at the discretion of trustees. Our restricted fund at the year end related to:• Children Fund – set up to support our work with children (minors under the age of 18 years) and the residue at 31st August 2023 amounted to £536 (2022 - £536). • Equipment Fund – this was set up to help buy new equipment from a single donation of £515 made during the year. The balance on the fund at 31st August 2023 was £515.
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THE ABINGDON MUSIC CENTRE TRUST
TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2023
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Website and Community Development – this relates to a single donation in the year for £1,000 for the purposes of re-branding, marketing, website development and furthering our services in the community. The balance on the fund at 31st August 2023 was £1,000.
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Funds held on behalf of the Frances Kitching Trust and spent on purposes decided by the FKT Trustees (who are the same as those of AMCT). The balance at 31st August 2023 amounted to £1,040 (2022 – £239).
Details of any funds materially in deficit
The funds were not in deficit during this or the previous year
Further financial review details (Optional information)
The trusts principal funding sources in the year consisted of money You may choose to include received from outreach activities, grants, donations, room rental hire, additional information, where relevant about: workshops and classes and investment income. The trust holds investments at 31st August 2023 totalling £24,481 (2022 - £30,399) • The charity’s principal sources which relates to reserve funding placed in investments with the CCLA. of funds (including any fundraising). It is the policy of the trust to hold these surplus funds with the CCLA in • How expenditure has order to maximise income. Sufficient funds are always readily available supported the key objectives of in order to enable the charity to achieve its objectives; the Trustees are the charity. committed to safeguarding these reserves whilst seeking any prudent • Investment policy and performance enhancing initiatives. objectives including any ethical Investments are held at their bid market value. There were no investment policy adopted. additional investments purchased in the year. The trustees review current and funding needs on a regular basis to ensure funds held are sufficient. The Charity sold £5,000 of investments during the year to maintain working capital levels.
Section F Other optional information
No remuneration was paid to trustees in this or the previous year.
No expenses were claimed by trustees this year (2022 - £489 for computer equipment and software). Donations from trustees amounted to £894 from 4 trustees (2022 - £679 from 4 trustees).
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THE ABINGDON MUSIC CENTRE TRUST
TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2023
Section G Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position (eg secretary, chair, etc) Date |
||
|---|---|---|
MRS A HASSANALI-SUTTON |
J N HINES | |
CHAIR |
TRUSTEE | |
| 21-May-2024 | ||
| 21-May-2024 |
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THE ABINGDON MUSIC CENTRE TRUST
Independent examiner's report on the accounts
Report to the trustees/ members The Abingdon Music Centre Trust of On accounts for Charity no (if any) 309181 the year ended[31 August 2023 ] Set out on pages 7 and 8
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 August 2022.
Responsibilities and basis 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 2011 (“the Act”).
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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
- Independent I have completed my examination. I confirm that no material matters have come examiner's to my attention. statement
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
I report to the trustees on my examination of the accounts of the above trust for the year ended 31 August 2023.
Responsibilities As the charity trustees of the Trust, you are responsible for the preparation of the and basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
| Signed: Name: Relevant professional qualification: Address: |
23-May-24 | |
|---|---|---|
| Helen Gee | ||
| FCCA | ||
| Vineyard Accountants | ||
| Chartered Certified Accountants, 5 The Chambers, Vineyard, Abingdon-on-Thames, OX14 3PX |
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Charity No 309181
THE ABINGDON MUSIC CENTRE TRUST
RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 AUGUST 2023
Section A Receipts and payments
Unrestricted funds
to the nearest £
Restricted funds
Endowment funds
to the nearest £ to the nearest £
Total funds Last year
to the nearest £ to the nearest £
A1 Receipts
| A1 Receipts | |||||||
|---|---|---|---|---|---|---|---|
| Associated Board exam fees | - | ||||||
| Adult & school age class fees | 34,569 | ||||||
| Pre school & workshopfees | 7,640 | ||||||
| Music, tapes, books & CD's sold | 15 | ||||||
| Room rentals | 1,200 | ||||||
| Sundryreceipts & refreshments | 2,015 | ||||||
| Donations | 815 | ||||||
| Investment income | 839 | ||||||
| Frances KitchingTrust | - | ||||||
| Outreach | 7,911 | ||||||
| CommunityPerformances | 13 | ||||||
| Memberships | 1,926 | ||||||
| HMRC Job Retention Scheme | - | ||||||
| Sub total | 56,943 | ||||||
| A2 Asset and investment sales, etc. **Total receipts ** |
|||||||
| 5,000 | - | - | 5,000 | ||||
| 61,943 | 10,271 | - | |||||
| 61,943 | 10,271 | - | 72,214 |
A3 Payments
| A3 Payments | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Associated Board Fees | - | - | - | - | - | ||||||
| Tuition fees | 22,176 | - | - | 22,176 | 24,476 | ||||||
| Musical instruments & equipment | 387 | - | - | 387 | 295 | ||||||
| Music, tapes, books and CD's | - | - | - | - | - | ||||||
| Miscellaneous expenses & materials | 2,647 | - | - | 2,647 | 3,205 | ||||||
| Office & administration expenses | 1,265 | - | - | 1,265 | 2,619 | ||||||
| Rent, rates & room hire | 8,664 | - | - | 8,664 | 2,075 | ||||||
| Cleaning | - | - | - | - | - | ||||||
| Staff salaries & honorarium | 21,919 | - | - | 21,919 | 26,189 | ||||||
| Accountancyfees | 654 | - | - | 654 | 594 | ||||||
| Insurance | 905 | - | - | 905 | 970 | ||||||
| Frances KitchingTrust | - | 7,956 | - | 7,956 | 6,730 | ||||||
| Memberships | 87 | - | - | 87 | |||||||
| **Sub total ** | 58,704 | 7,956 | - | 66,660 | 67,153 | ||||||
| A4 Asset and investment purchases, | etc. | - | - | - | |||||||
| Total payments | 58,704 | 7,956 | - | 66,660 | 67,153 | ||||||
| **Net of receipts/(payments) ** | 3,239 | 2,315 | - | 5,554 | (5,199) | ||||||
| A5 Transfers between funds | - | - | - | - | - | ||||||
| A6 Cash funds last year end | 3,126 | 776 | - | 3,902 | 9,100 | ||||||
| **Cash funds this year end ** | 6,365 | 3,091 | - | 9,456 | 3,901 | ||||||
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Charity No 309181
THE ABINGDON MUSIC CENTRE TRUST
RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 AUGUST 2023
| Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | |
|---|---|---|
| Categories B2 Other monetary assets B3 Investment assets B4 Assets retained for the B5 Liabilities Signed by one or two trustees on behalf of all the trustees (agree balances with receipts and payments account(s)) B1 Cash funds Petty cash NatWest current account CAF cash account Signature COIF deposit account Details Details Details Total cash funds Details Details CCLA Investment Fund |
Unrestricted funds Restricted funds to nearest £ to nearest £ 60 - 1,694 - - 4,611 3,091 6,365 3,091 - Unrestricted f nds Restricted f nds to nearest £ to nearest £ - - - - - - Fund to which asset belongs Cost (optional) Unrestricted - - - Fund to which asset belongs Cost (optional) - - - Fund to which liability relates Amount due (optional) - - - Print Name MRS A HASSANALI-SUTTON J N HINES |
Endowment funds to nearest £ |
| - | ||
| - | ||
| - | ||
| - | ||
| - | ||
| Endowment f nds to nearest £ |
||
| - | ||
| - | ||
| - | ||
| Current value (optional) |
||
| 24,481 | ||
| - | ||
| - | ||
| Current value (optional) |
||
| - | ||
| - | ||
| - | ||
| When due (optional) |
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| Date of approval |
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| MRS A HASSANALI-SUTTON | 21-May-24 | |
| J N HINES | 21-May-24 |
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