Registration number: 508740
## **Côr Meibion Morlais**
Annual Report and Unaudited Financial Statements For the year ended 31 December 2023
Côr Meibion Morlais – registration number 508740
## **Charity information**
## **Board of Trustees**
Byron Young – Chairman Paul Carter – Vice Chairman Allyn Carter – Secretary Jeffrey Humphreys – Treasurer (appointed 25 May 2024) James O’Connor – Chair of the Audit Committee (appointed 25 May 2024)
## **Standing Committee**
Byron Young – Chairman Paul Carter – Vice Chairman Allyn Carter – Secretary Jeffrey Humphreys – Treasurer (appointed 25 May 2024) Huw Jones – Treasurer (resigned 12 March 2024) Huw Bennett Lawrence Thomas Kieth Bevan Barrie Williams John Asquith Gerwyn Evans
## **Audit Committee**
James O’Connor – Chair of the Audit Committee (appointed 25 May 2024) Clare Cooze (appointed 22 October 2024) Karen Lee (appointed 11 July 2024)
## **Registered office**
Morlais Hall North Road Ferndale Rhondda Cynon Taff CF43 4PS
## **Form of incorporation**
Côr Meibion Morlais is an unincorporated charity registered with the Charity Commission (registration number 508740) and governed by the Board of Trustees, with operations delegated to a managing committee.
## **Banker**
Barclays Bank plc Leicester LE87 2BB
Annual Report and Unaudited Financial Statements – year ended 31 March 2023 – page **2** of **13**
Côr Meibion Morlais – registration number 508740
## **Trustees’ report**
The trustees are pleased to present the financial statements for Côr Meibion Morlais (the “Charity” or the “Choir”) for the year ended 31 December 2023 (the “year”).
The trustees of the Charity are as disclosed within “Charity Information” on the preceding page.
## **Purpose and principal activity**
The principal activity of the Charity is developing, training and performing music in the Welsh male-voice choral tradition. In addition, the Morlais Hall is used as a safe and central space for community groups to hold meetings, training, education and events.
The purpose of the Choir is to give its members and audiences enjoyment of a broad range of male-voice choral music.
## **Mission statement**
Through Music Friendship. Through Friendship Peace.
## **Overview of activity**
The Charity recognised turnover of £56,164 (2022 restated: £32,034). The Charity reported a deficit of £1,216 for the year (2022 restated: £2,603 surplus).
The Choir undertook an overseas tour to Cyprus during 2023, delivering a number of charitable performances to retirees and local communities across the island in support of greater cultural ties between Cyprus and Wales.
The Choir continued its ongoing programme of performances to local nursing homes and hospitals, recognising the significant benefits of music to those with reduced mobility and other needs. The Choir continues to have strong connections with these local institutions and these concerts are always well received by staff, residents and patients alike.
The Choir also performed more widely in the UK including Thatcham in Berkshire and St German’s Church in Cardiff for the Worshipful Livery Company of Wales.
The Choir hosted a concert for The Providence High School Singers from Burbank, California and a charity concert for Guide Dogs for the Blind. The Choir also continued its association with the British Legion, holding a Service of Remembrance at the Morlais Hall.
The Choir also performed widely in the run up to Christmas including street events, the Maerdy Santa Parade and a carol concert in association with a local primary school.
Annual Report and Unaudited Financial Statements – year ended 31 March 2023 – page **3** of **13**
Côr Meibion Morlais – registration number 508740
## **Future plans**
After the year end, the Choir undertook a “St. Davids Day” tour to Benalmadena, Costa del Sol, Spain during March 2024 in conjunction with the Welsh Society of Costa del Sol. Engagements included an open-air St David’s Day festival, a theatre performance and a performance at one of the large seafront hotels.
The Choir’s regular programme of community events and concerts will continue throughout 2024.
The Choir will be embarking on a programme of fundraising for refurbishment of the Morlais Hall.
## **Going concern**
After making enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future, being a period of at least twelve months from the date on which the annual report and financial statements are signed. For this reason, it continues to adopt the going concern basis in the financial statements.
## **Investment policy**
The Choir has relatively modest reserves and surplus cash is held in bank savings accounts to secure a higher rate of interest. In the event that the volume of surplus cash held increases substantially, the Charity may elect to invest funds in secure, highly-rated investment vehicles, provided that there is a good range of risk-appropriate institutions and maturities.
## **Reserves policy**
The Choir maintains reserves sufficient to maintain the hall in which it rehearses and performs to a reasonable standard in the face of expected and unexpected costs. It also holds sufficient reserves to allow it to continue to function for 12 months without income, in order to allow an orderly winddown in the event of income cessation, as occurred during the COVID-19 pandemic. It is estimated that reserves of approximately £100,000 ought to be maintained for these purposes.
Annual Report and Unaudited Financial Statements – year ended 31 March 2023 – page **4** of **13**
Côr Meibion Morlais – registration number 508740
## **Statement of trustees’ responsibilities**
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law, United Kingdom accounting standards and the Charities SORP. The law applicable to charities in England and Wales require the trustees to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income resources and application of resources to 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 of the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any 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 accounting records which disclose with reasonable accuracy the financial position of the Charity and enable them to ascertain to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and irregularities.
Approved at the Annual General Meeting on 25 October 2024 and signed on its behalf by:
|______________________|______________________|______________________|
|---|---|---|
|Byron Young|Allyn Carter|Jeffrey Humphreys|
|Chairman|Secretary|Treasurer|
Annual Report and Unaudited Financial Statements – year ended 31 March 2023 – page **5** of **13**
Côr Meibion Morlais – registration number 508740
## **Income and expenditure account for the year ended 31 December 2023**
|Note
**Turnover**
2
Operating costs
3
**Operating (deficit)/surplus**
Interest receivable and similar income
4
**Total (deficit)/surplus for the year**|**2023**
2022
(Restated)
**£**
£
**55,652**
33,326
**(57,379)**
(29,468)|
|---|---|
||**(1,728)**
3,858|
||**512**
37|
||**(1,216)**
3,895|
The above results were derived entirely from continuing operations.
The Charity has no recognised gains or losses for the year other than the results above.
Annual Report and Unaudited Financial Statements – year ended 31 March 2023 – page **6** of **13**
Côr Meibion Morlais – registration number 508740
## **Balance sheet as at 31 December 2023**
|Note
**Fixed assets**
Land and buildings
5
**Current assets**
Debtors
6
Cash and cash equivalents
**Current liabilities**
Creditors: amounts falling due within one year
7
**Net current assets**
Capital grant creditors
8
**Net assets**
**The funds of the Charity:**
Restricted
9
Designated
9
Unrestricted and non-designated
9
Total Charity funds|**2023**
2022
(restated)
**£**
£
**173,235**
177,117|
|---|---|
||**20,263**
-
**46,633**
81,276
**(11,836)**
(25,761)|
||**55,060**
55,515|
||**(117,282)**
(120,403)
**111,013**
112,228|
||**1,034**
1,779
**30,000**
30,000
**79,979**
80,449|
||**111,013**
112,228|
The above results were derived entirely from continuing operations.
The Charity has no recognised gains or losses for the year other than the results above.
The notes on pages 8 to 13 form an integral part of these financial statements.
Approved and authorised at the Annual General Meeting on 25 October 2024 and signed on its behalf by:
Byron Young Allyn Carter Jeffrey Humphreys Chairman Secretary Treasurer
Annual Report and Unaudited Financial Statements – year ended 31 March 2023 – page **7** of **13**
Côr Meibion Morlais – registration number 508740
## **Notes to the financial statements for the year ended 31 December 2023**
## **1 Principal accounting policies**
## _Basis of preparation_
These financial statements have been prepared in accordance with the Charity’s governing document and “Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (the “Charities SORP”).
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The financial statements are prepared in British pounds sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest pound.
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all of the financial periods presented, unless otherwise stated.
## _Going concern_
The trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The going concern basis of accounting has therefore continued to be used in preparing the annual financial statements.
## _Income recognition_
Turnover comprises the fair value of the non-repayable revenue grants, donations and consideration received or receivable for provision of services in the ordinary course of the Charity’s activities. Turnover is shown net of VAT and any discounts. The Charity recognises revenue where the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the Charity’s activities.
## _Property, plant and equipment_
Properties are held at cost less accumulated depreciation and any accumulated impairment losses. Cost includes the cost of acquiring land and buildings, and development costs directly attributable to the construction of new housing properties during the development. Capitalisation ceases when substantially all the activities that are necessary to bring the asset into use are complete. Housing properties are split between land, structure and those major components which require periodic replacement. Replacement or restoration of such major components is capitalised and depreciated over the estimated useful life of the component. The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for retrospectively.
Annual Report and Unaudited Financial Statements – year ended 31 March 2023 – page **8** of **13**
Côr Meibion Morlais – registration number 508740
Where there are improvements to housing properties that are expected to provide incremental future benefits, these are capitalised and added to the carrying amount of the property. Any works to housing properties which do not replace a component or result in an incremental future benefit are charged as expenditure in the Statement of Comprehensive Income.
Depreciation is charged to write down the cost of housing properties to their estimated residual value, on a straight-line basis, over their estimated useful economic lives. The depreciable amount is assessed on an annual basis and is original cost less residual value. Component replacements are depreciated over their useful economic lives and depreciation commences with a full year’s charge during the year of bringing the asset into use.
|Useful economic lives of components|are as follows:|
|---|---|
|Boilers|15 years|
|External doors|10 years|
|Fixed seating|25 years|
|Heating & electrical|15 years|
|Kitchens|15 years|
|Windows|30 years|
Freehold land is not depreciated. Property structure is depreciated over a useful economic life of 50 years.
## _Cash and cash equivalents_
Cash and cash equivalents comprise cash on hand and held in bank accounts which are not subject to significant delays or restrictions on withdrawal.
## _Creditors_
Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the balance due for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, such creditor balances are presented as non-current liabilities.
Capital grants are recognised when the Charity has complied with the required conditions and there is certainty that the grant will be received. Capital grants relating to properties held at cost are accounted for using the accrual model and are amortised over the life of the related assets.
The unamortised portion of grants received is held in the Statement of Financial Position as deferred income. Where grant funded assets are disposed of and there is no requirement to repay the grant, the unamortised portion of the grant is released as income. Grants repayable are accounted for using management’s best estimate of the liability.
Revenue related grants are released to the Statement of Comprehensive Income over the period in which the related costs are recognised.
Annual Report and Unaudited Financial Statements – year ended 31 March 2023 – page **9** of **13**
Côr Meibion Morlais – registration number 508740
## _Financial instruments_
The Charity only enters into basis financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to relates parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset’s carrying amount and the best estimate of the amount that the Charity would receive for the asset if it were to be sold at the reporting date.
Financial asset and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **2 Turnover**
|**Turnover**||
|---|---|
|Donations and fundraising income
Rental income
Performance fees
Revenue grants
Sundry sales
Amortisation of capital grants
**Total turnover**|**2023**
2022
(restated)
**£**
£
**23,974**
10,569
**6,832**
7,875
**3,755**
5,384
**15,810**
5,000
**671**
37
**4,610**
4,461|
||**56,652**
33,326|
The majority of turnover is derived from within the United Kingdom. During the year, £1,030 was derived from cash receipts in Cyprus for tickets to the Choir’s concerts there (2022: no non-UK turnover). All turnover pertains to continuing operations.
Annual Report and Unaudited Financial Statements – year ended 31 March 2023 – page **10** of **13**
Côr Meibion Morlais – registration number 508740
## **3 Operating costs**
Operating costs include the following:
|Charitable donations
Depreciation of fixed assets
**4 Interest receivable and similar income**
Bank interest receivable|**2023**
2022
(restated)
**£**
£
**2,171**
2,088
**5,372**
5,223|
|---|---|
||**2023**
2022
(restated)
**£**
£
**512**
37|
Interest receivable and similar income consists solely of bank interest on funds held within a savings account in accordance with the reserves policy of the Charity.
## **5 Land and buildings**
|**Land and buildings**||
|---|---|
|**Cost**
At 1 January
Additions
At 31 December
**Accumulated depreciation**
At 1 January
Charge for the year
At 31 December
**Net book value**
At 1 January
At 31 December|**2023**
2022
(restated)
**£**
£
**345,684**
345,684
**1,490**
-|
||**347,174**
345,684|
||**168,567**
163,345
**5,372**
5,223|
||**173,939**
168,567|
||**177,117**
182,329|
||**173,235**
177,117|
Land and buildings constitute a single property, which is the hall owned and occupied by the Choir for its rehearsals and performances (the “Choir Hall”), which is also made available at cost-effective rates for use by a range of local community groups and national charities with interest in the area.
Annual Report and Unaudited Financial Statements – year ended 31 March 2023 – page **11** of **13**
Côr Meibion Morlais – registration number 508740
## **6 Debtors**
|Prepayments
Accrued income|**2023**
2022
**£**
£
**18,801**
-
**1,463**
-|
|---|---|
||**20,263**
-|
Prepaid expenses consisted solely of travel costs associated with the Choir tour to Spain in March 2024, where flight tickets and associated costs were paid in advance of the year end.
Accrued income represents Gift Aid reclaimed from HMRC which was received following the year end.
## **7 Creditors – amounts falling due within one year**
|Deferred income
Accrued expenses|**2023**
2022
**£**
£
(restated)
**11,196**
13,770
**640**
11,991|
|---|---|
||**11,836**
25,761|
Deferred income represents cash receipts prior to 31 December 2023 which are associated with the Choir tour to Spain in March 2024.
Accrued expenses comprised music team costs for 2023 performances invoiced and paid after the year end.
## **8 Grant creditors**
|**Net book value**
At 1 January
Additions
Amortisation for the year
At 31 December|**2023**
2022
**£**
£
(restated)
**120,403**
124,864
**1,490**
-
**(4,610)**
(4,461)|
|---|---|
||**117,282**
120,403|
Grant creditors constitute capital grant received in order to refurbish the Choir Hall.
Annual Report and Unaudited Financial Statements – year ended 31 March 2023 – page **12** of **13**
Côr Meibion Morlais – registration number 508740
## **9 Reserves**
|**At 1 January 2022**
Surplus for the year
**At 31 December 2022**
Deficit for the year
**At 31 December 2023**|Restricted
Designated
Unrestricted
and non-
designated
Total
**£**
£
£
£
2,166
30,000
76,166
108,333
(387)
-
4,282
3,895|
|---|---|
||1,779
30,000
80,450
112,229
(745)
-
(471)
(1,216)|
||**1,034**
**30,000**
**79,979**
**111,013**|
Restricted reserves constitute revenue grants received for specific purposes which may only be utilise for the specified purpose, all of which are considered relevant and usable, together with amounts collected for charities supported by the Choir and therefore only useable for onward remittance to those charities.
Designated reserves constitute balances set aside for the maintenance of the Choir Hall.
## **10 Prior period restatement**
Comparatives for the year ended 31 December 2022 have been restated to reflect a common presentational format, restatement of depreciation and amortisation on a component accounting basis, and ensure that income and costs were shown gross within turnover and operating costs, rather than on a net basis.
## **11 Related party transactions**
The trustees do not receive any remuneration for their services as trustees. Where trustees undertook other services unrelated to their roles as trustees, their reasonable costs were met.
## **12 Controlling party**
The Charity is unincorporated. It has no subsidiary undertakings and no parent undertaking. The ultimate controlling party is considered to be the assembled members of the Choir, who meet at least annually to approve this annual report.
Annual Report and Unaudited Financial Statements – year ended 31 March 2023 – page **13** of **13**
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examinerfs report on the
accounts
Section A
Independent Examiner's Report
Report to the tntstees
COQ Mei
On accounts for the year
ended
2016
Charity no
(rf ary)
s6g7ltO
Set out on pages
(tl.
I report to the trustees on my examination of the accounts of the above
charity ('the Trustl for the year ended
As the charitys trustees, you are responsible for the preparation of the
accA)unts in accordance with the requirements of the Charities Act 2011
(he Acr).
I report in respect of my examination of the Trust's accx)unts carried out
under section 145 of the 2011 Act and in carrying out my examination, I
have followed all the appficable Directions given by the Charity Commission
under section 145(5)(b) of the ACL
Responsibilities and
basis of report
Independent trhe charitys gross income exceeded £250,000 and l am qualified to
examinerfs statement undertake the examination by being a qualified member of [insert name of
applicable listed bodyll. Delete [ ] if not applicable.
I have completed my examination. I confirm that no material matters have
come to my attention in connection with the examination (other than that
disclosed below ") which gives me cause to believe that in, any material
respe(*"
the accounting records were not kept in accordan with section 130
of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable qUirementS
conmIng the fomi 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 fairf view lch is not a matter
considered as part of an independent examination.
I 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
order to enable a proper understanding of the accounts to be reached.
. F¥ease delete the wonys in the bRckets if they do not apply.
Signed:
27
lo
2¢
Name:
¢AAfLIL C,i[/f
Relevant professional
qtRlification(g1 or body
IER
Oct 2018
(if any):
Address:
60 £-.
FFJ/v? ACE
Cr
CR(J (frLL
Section B
Disclosure
Only complete if the examiner needs to highlight material matters of concem
(see CC32, Independent examination of drity accounts: directsons and
guidance for examiners).
Give here brief details of
any items that the
examiner wishes to
disclose.
IER
Oct 2018