THE ABINGDON MUSIC CENTRE TRUST FINANCIAL STATEMENTS 31 AUGUST 2024
Charity Number 309181
THE ABINGDON MUSIC CENTRE TRUST
FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2024
CONTENTS PAGE Trustees Annual Report 1 Independent Examiner’s Report on the accounts 8 Receipts and Payments accounts 9
Trustees’ Annual Report for the year ended 31 August 2024
From 1/9/23 To 31/8/24 Charity name: ABINGDON MUSIC CENTRE TRUST
Charity registration number: 309181
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | Abingdon Music Centre Trust was established to make music available as wide s possible within the local community for both adults and children. The Trust runs music classes and workshops throughout the year and provides opportunities for local music makers and teachers to use its premises for music making. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
To establish a centre for the performance teaching and appreciation of music to children and adults to increase their knowledge, understanding and love of music and their ability to play music to the most advanced level to which they are capable. We charge fees for our activities but keep 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. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | 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. |
Additional information (optional) You may choose to include further statements where relevant about:
| SORP reference | ||
|---|---|---|
| Policy on grant making | Para 1.38 | n/a |
| Policy on social investment including program related investment |
Para 1.38 | n/a |
| Contribution made by volunteers |
Para 1.38 | Volunteers make an important contribution to Abingdon Music Centre; they give their time freely and we are grateful for their support. |
| Other | n/a |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | 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 took place throughout the year in associated primary schools. Regular sessions were held to support music-making in smaller primary schools in addition to established activities in larger schools. Once again, we offered and ran a start of year course for new Year Seven students to support transition and continuing instrumental playing on transfer to secondary school. |
Additional information (optional) You may choose to include further statements where relevant about:
Achievements against Para 1.41 objectives set Performance of fundraising Para 1.41 activities against objectives set Investment performance Para 1.41 against objectives Other
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Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | At the 31 August 2024, total reserves stood at £29,935 (2023 - £33,937), which was made up of unrestricted funds of £32,298 (2023 - £36,380) and restricted funds of: - £2,363 deficit (2022: £3,091 surplus). |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | To ensure continuity of classes and facilities general reserves are held at the level of three month’s salary costs and one year of premises 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. |
| Amount of reserves held | Para 1.22 | 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 31 August 2024 amounted to £486 (2023: £486). • Equipment Fund – this was set up to help buy new equipment from a single donation of £515 made during the last year. The balance on the fund at 31 August 2024 was £nil (2023: £515). • Website, Community Development and marketing – this relates to a single donation in the last year for £1,000 for the purposes of re-branding, marketing, website development and furthering our services in the community. We also received a donation of £500 in this year for marketing materials. The balance on the fund at 31 August 2024 was: £843 (2023: £1,000). • 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 Abingdon Music Centre Trust). The balance at 31 August 2023 amounted to: -£3,691 (2023 – £1,040 ). |
| Reasons for holding zero reserves |
Para 1.22 | n/a |
| Details of fund materially in deficit |
Para 1.24 | The Frances Kitchin Trust fund was overdrawn by £3,691 at the year end date. This was due to a timing delay. This was cleared on 18th September 2024 when a transfer to £8,000 was made into this fund. |
|---|---|---|
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | There are no uncertainties that the charity cannot continue as a going concern. |
| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
|---|---|---|
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | The trusts principal funding sources in the year consisted of money received from outreach activities, grants, donations, room rental hire, workshops and classes and investment income |
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | The trust holds investments at 31 August 2024 totalling £26,730 (2023 - £24,481) which relates to reserve funding placed in investments with the CCLA. It is the policy of the trust to hold these surplus funds with the CCLA in order to maximise income. Sufficient funds are always readily available in order to enable the charity to achieve its objectives; the Trustees are committed to safeguarding these reserves whilst seeking any prudent performance enhancing initiatives. Investments are held at their bid market value. There were no additional investments purchased in the year. The trustees review current and funding needs on a regular basis to ensure funds held are sufficient. |
| A description of the principal risks facing the charity |
Para 1.46 | The Trustees regularly review the major risks the Trust faces. Insurance and Health and Safety issues are assessed annually. |
| Other | Any surplus funds at the end of the year are retained by the trust to help further its aims. |
| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
|---|---|---|
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | The trusts principal funding sources in the year consisted of money received from outreach activities, grants, donations, room rental hire, workshops and classes and investment income |
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | The trust holds investments at 31 August 2024 totalling £26,730 (2023 - £24,481) which relates to reserve funding placed in investments with the CCLA. It is the policy of the trust to hold these surplus funds with the CCLA in order to maximise income. Sufficient funds are always readily available in order to enable the charity to achieve its objectives; the Trustees are committed to safeguarding these reserves whilst seeking any prudent performance enhancing initiatives. Investments are held at their bid market value. There were no additional investments purchased in the year. The trustees review current and funding needs on a regular basis to ensure funds held are sufficient. |
| A description of the principal risks facing the charity |
Para 1.46 | The Trustees regularly review the major risks the Trust faces. Insurance and Health and Safety issues are assessed annually. |
| Other | Any surplus funds at the end of the year are retained by the trust to help further its aims. |
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Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 |
Declaration of Trust dated 1 October 1973, as varied by scheme of 5 June 2001, as amended 16 June 2015,as amended 7 February2019. |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | The Trust is an unincorporated organisation. |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Nominated by existing Trustees having consideration of relevant experience, interests, skills and likely contribution following discussion with nominee. |
Additional information (optional) You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | A Trustee is nominated to act in the event of child safeguarding concerns and to make referrals to the local authority's child protection team. Where relevant all Trustees and teaching staff are DBS checked. 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. |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | The trustees of Abingdon Centre Music Trust are also common trustee of The Frances Kitchin Trust. Support in the year amounted to £8,426 (2023: 8,756) and expenditure in the year amounted to £13,157 (2023: 7,956). The balance on the fund at the year end was a deficit of £3,691(2023 – surplus - £1,040). |
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| Other | All trustees give their time voluntarily and receive no remuneration or benefits. Expenses may be paid. During the year, our main premises was flooded, which meant we needed to find alternative premises for three months. We received a 50% rent reduction as compensation, which was implemented from September 2024. |
Reference and Administrative details
| Charityname | Abingdon Music Centre Trust |
|---|---|
| Other name the charityuses | AMCT |
| Registered charitynumber | 309181 |
| Charity’s principal address | Larkmead School, Faringdon Road Abingdon-on-Thames Oxfordshire OX14 1RF |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 |
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 | ||||
| Rosemary BRUCE | ||||
| David RIDDLE | ||||
| Anne NEWTON | ||||
| Jonathan Mark BENTLEY |
||||
| Lucy Emma WEBBER | ||||
| Stephen WILSON | Resigned 24.10.23 | |||
| Sandra Anne WALLIS | Appointed 21.10.24 | |||
Additional information (optional)
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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 adviser Name Address |
||
| Independent Examiners |
Vineyard Accountants Ltd |
5 The Chambers, Vineyard, Abingdon-on-Thames, OX14 3PX |
| Name of chief executive or names of senior staff members (Optional information) | ||
Other optional information
No remuneration was paid to trustees in this or the previous year. No expenses were claimed by trustees in this or the previous year. Donations from trustees amounted to £1,946 from 5 trustees (2022 - £894 from 4 trustees).
Declarations
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 | |
| 23 May 2025 | ||
| 23 May 2025 |
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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 the year ended[31 August 2024 ] Charity no (if any) 309181 Set out on pages 9 and 10
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 August 2024. 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 2024.
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: |
5 June 2025 | |
|---|---|---|
| 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 2024
Section A Receipts and payments
Unrestricted Restricted funds funds
to the nearest £
to the nearest £
Endowment Total funds Last year
funds
to the nearest £ to the nearest £ to the nearest £
| A1 Receipts | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Associated Board exam fees | - | - | - | - | - | ||||
| Adult & school age class fees | 36,904 | - | - | 36,904 | 34,569 | ||||
| Pre school & workshopfees | 6,731 | - | - | 6,731 | 7,640 | ||||
| Music, tapes, books & CD's sold | - | - | - | - | 15 | ||||
| Room rentals | 1,087 | - | - | 1,087 | 1,200 | ||||
| Sundryreceipts & refreshments | - | - | - | - | 2,015 | ||||
| Donations andgrants | 4,623 | 500 | - | 5,123 | 2,330 | ||||
| Investment income | 962 | - | - | 962 | 839 | ||||
| Frances KitchingTrust | - | 8,426 | - | 8,426 | 8,756 | ||||
| Outreach | 2,727 | - | - | 2,727 | 7,911 | ||||
| CommunityPerformances | 125 | - | - | 125 | 13 | ||||
| Memberships | 3,219 | - | - | 3,219 | 1,926 | ||||
| - | - | - | - | - | |||||
| Sub total | 56,378 | 8,926 | - | 65,304 | 67,214 | ||||
| A2 Asset and investment sales, etc. | - | - | - | 5,000 | |||||
| **Total receipts ** | 56,378 | 8,926 | - | 65,304 | 72,214 | ||||
| A3 Payments |
| A3 Payments | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Associated Board Fees | - | - | - | - | - | ||||||
| Tuition fees | 21,213 | - | - | 21,213 | 22,176 | ||||||
| Musical instruments & equipment | 680 | 565 | - | 1,245 | 387 | ||||||
| Music, tapes, books and CD's | - | - | - | - | - | ||||||
| Miscellaneous expenses & materials | 2,180 | 446 | - | 2,626 | 2,647 | ||||||
| Office & administration expenses | 1,095 | 211 | - | 1,306 | 1,265 | ||||||
| Rent, rates & room hire | 7,946 | - | - | 7,946 | 8,664 | ||||||
| Cleaning | - | - | - | - | - | ||||||
| Staff salaries | 22,369 | - | - | 22,369 | 21,919 | ||||||
| Accountancyfees | 684 | - | - | 684 | 654 | ||||||
| Insurance | 970 | - | - | 970 | 905 | ||||||
| Frances KitchingTrust | - | 13,157 | - | 13,157 | 7,956 | ||||||
| Memberships | 41 | - | - | 41 | 87 | ||||||
| **Sub total ** | 57,178 | 14,379 | - | 71,557 | 66,660 | ||||||
| A4 Asset and investment purchases, | etc. | - | - | - | |||||||
| Total payments | 57,178 | 14,379 | - | 71,557 | 66,660 | ||||||
| **Net of receipts/(payments) ** | (800) | (5,453) | - | (6,253) | 5,554 | ||||||
| A5 Transfers between funds | - | - | - | - | - | ||||||
| A6 Cash funds last year end | 6,366 | 3,090 | - | 9,456 | 3,902 | ||||||
| **Cash funds this year end ** | 5,566 | (2,363) | - | 3,203 | 9,456 |
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Charity No 309181
THE ABINGDON MUSIC CENTRE TRUST
RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 31 AUGUST 2024
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 Total cash funds Details Details CCLA Investment Fund Details COIF deposit account Details Details Signature (agree balances with receipts and payments account(s)) B1 Cash funds Petty cash NatWest current account CAF cash account |
Unrestricted funds Restricted funds to nearest £ to nearest £ 60 - 637 692 - 4,177 (2,363) 5,566 (2,363) - Unrestricted f d Restricted f d 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 |
Restricted funds to nearest £ |
Restricted funds to nearest £ |
Endowment funds to nearest £ |
|---|---|---|---|---|
| - | - | |||
| - | ||||
| - | - | |||
| (2,363) | - | |||
| (2,363) | - | |||
| Endowment f d to nearest £ |
||||
| - | ||||
| - | ||||
| - | ||||
| Current value (optional) |
||||
| 26,731 | ||||
| - | ||||
| - | ||||
| Current value (optional) |
||||
| - | ||||
| - | ||||
| - | ||||
| When due (optional) |
||||
| Date of approval |
||||
| MRS A HASSANALI-SUTTON | 23-May-25 | |||
| J N HINES | 23-May-25 |
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