CWMBACH MALE CHOIR Reg15tered Charlty 702473 REPOR T AND FINANCIAL STA TEMENTS PERIOD ENDED,, 31 DECEMBER 2024 CONTENTS.. Page Legal and Administrative infonnulion TThslees' Ann'uol Report Jndependeni Examiner's Report Receipl,r and Paynients Acc'cunÈ S¢alEIPIEnt ofAJsets and Liabilitie,Y CWMBACH MALE CHOIR LEGAL AND ADMIJVISTRA TIVE INFORMA TION STATUS Thc organisation was fornied and granted charitsble status on i ith October 2012 (charity number 702473). The charity is govern¢d by its constitution which was adopted on 22 January 1990. TRUSTEES The board rnembcrs serving during the year and since the y¢ar end w¢re as follows: R H Davies G Thomas Gwowen A D Boaler P T Hanbury PRINCIPAL ADDRESS 42 Llys Cynon Hinvaun Abcrdare Mid Glamorgon CF44 9PR INDEPENDENT EXAMINER Ri¢liard ￿loYIe ACA FCCA Baker Icnoyle Accountancy Lirnited Orbit Business Centre Rhydycar Busine85 Pai'k Merihyr Tydfil CF48 IL)L Page I CWMBACH NL4LE CHOIR TRUSTEES, ANNUAL REPOR T Tli¢ LLWStees pr¢seiit their &tthual i'eport togethth. with the financial statements of tlje cljarity for the year ended 31 Dec¢mb¢r 2024. Legal and administrutive information set out on page I forms part of this report. AIMS AND OBJECTIVES OF THE CHARITY Pui ose8 atld &ims Th¢ object of th¢ clioir is to educate the public in the art5 and sciences of niusic, 2nd in parti¢ular the art and s¢i¢nc¢ of choral tnusic, by prescntatioll of concerts and othei. activities. Ensurin our worlc delivers its aims W¢ are continually r¢viewArng our aims, objectives and actLVitie8 to ensure that we provide th¢ maximum benefit possibl¢ to th¢ g¢ncral public, and also our members. In setting our aims and objectives, we have referred to Ilie guidance contained ii) the Clillrity Coinmis8ion's general guidance on public benefit. In particular, the trustees Gonsider how planned activities will contribute to the aims and objectives they hav¢ set. HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT The Trustees are aware that the Churity bas a responsibility under the Charities Act to demonstrate that it has cliaritable aims tliat mect the .public benefit requirement and are theiefore chai'itable. The Trustees confirm that tliey have had regard to die CEwity CoLntllission's guidance on public benefit and comply with S17 Charities Act 2011 when considering, planning and implemeniing the aciivilies of the cliarity, As Trustees, we believe that the aims of our Org￿lISatIon are ch8L'itable and for the public beAiefil, ACHIEVEMENTS AND PERFORMANCE Durills the year the Clior continued ¢0 pursue ils objectives, by performing at various events across the local llr¢ll, and more widely across the UK. We took part in events, which included die Els￿ddf0d, a massed concert al the Royal Albert Hall as well as Si David's Day events. We sang cit ￿ iiumber of weddings and chllrity events, and were proud lo be involved in a recording for the 200di Anniv¢rsllry of the PJLI. We Colltinued to hold weekly rebt￿s￿lS for our cliorist¢rs. Page 2 CWMBACH f%iALE CHOIR 4INANCIAL REVIEW In accountancy terms. th¢ Choir madc a deficit of £9,442 during 2024, which has been covered by reducing our reserve holding. HoweveJ, in real t¢rms, the clioir 15 in a strong financial position and Gan iiivest iii its members to ensure exciting and bright thlure. The choir ended the year with a total of £85,585.18. Tli¢ Cwmbach cominittee mad¢ th¢ followitig key decisions in y¢ar which Colltributcd to thg £9,442 deficit in year. Subsidy for the South Africa trip in 2025, Subsidy for the new choir unifom, OLlier significant speiid iii year is accountable to >£IOOO payn]enl for new starter uniform contributions, a dcfibrillator and a £2000 donation to the listeddfod, Prin¢1 al Fundin Sources For tli¢ ye￿. lo Decembei. 2024, the Lnain funding Sources can be found on the Receipts and P&yment Account witli the Financial Statements. R¢5¢rvcs Poli Th¢ Cwmbacli Male Choir operating reserve is an unrestricted fund balance set aside to stabilize the choir's finances by providing a cushion against unexpected events, losse8 of incon)e, and large approved expenses. Tlie resei'v¢ is an 'unr¢stricted" ￿nd that can be uscd in any way that the cliariiy's TI￿Sle¢S clioosc. Cwmbach has b¢¢n opcraliiig a £70k lo £1 l Ok i-cscrve tor over 30 years, dating back to tl)e 1990s. This liag allowed th¢ choir great flexibility iii ouigoings such as concerts and capital purcliases. including & performaiice acoustic sli¢ll, The Cwmbach operating reserve is based on a fonniila to ensure there is enough unrestricted cash to cover operating expenses for two yeArs and to allow expens¢ contributlolls lo choristers for parcicipating in inlerftation&l concerts, The reserve formula is bas¢d on the number of cl)oristei's oti tlie boolcs Inultiplied by £1,000 res¢rve p¢r choristcr. When broken down p¢r chorister, tlie reseive would cover, for exainple, a full uniform refi'esh and a l OQ/o coiitribulion for ttvo intemational concerts. The reserve fund for 2045 is set at 70 chorisl¢rs niultipli¢d by £1,000, tolalling £70,000. This has been placed into a on¢-y¢ar savings boiid that will mature oil JanuEMy 6, 2026. The bolld maximizes interest payments tlirougliout 2025, and the dividend will be add¢d to the availllble iii-yeai- budget for 2026. STRUCTURE, GOVERNANCE AND MANAGEMENT Rislc r¢vi¢w The trustees have conducted a r¢vi¢w of the major risks to which the chtwity is exposed. 14There appropriate, systcms or procedures have be¢n ¢stabli5h¢d to mitigate the risks the charity faces. Internal control risk8 are minimised by procedutes of authorisation of ttinsactions and projects. Procedures are in place to ensure coinplian¢¢ with health and safety of staff, voliinteers antL clients. Page 3 CWMBACH ￿L￿LE CHOIR PLANS FOR FUTURE PERIODS Tli¢ Choir plans to U11dertake further tours, both UK based and further afield, lo promote tlie objcctiv¢s of the Choir. Concerts and otber niore locally bas¢d activities arc continuing, along with efforts to assist other local cliarities and similar organi8attolls. We look forward to our tour to South Africa which is taking placc in Autumn of 2025. Appi'oved by order of the board of truste¢s, Signed on behalf of the board.. A D Boaler - Trustee Dated.. Page 4 CWMBACH MALE CHOIR Independent dyaminer's report to the Trustees of Cwmbach Male Choir I report on the accounts of tlie Charity for tlie year ended 31. December 2024, which &Te sel out on pages 6 and 7. Responslbllltle5 and basis of repor¢ As tlie chaiity's tiustees you llre responsible for the preparation of the accounts in &ccoi'dance with the requireinciits of Ili¢ Charitieg Act 2011 ('the Act,). T r¢port in respccl of my ex&minaiion of tlje charity's accounts carri¢d out under scGtion 145 of the Act and in carrying out my ¢xamina¢ion I Iiave followed all the applicable Directions giv¢n by the Charity Comniission under section 145{5)(b) of th¢ Act. Independent ￿￿MIner'S statement I have completed my examination. I coiifirm that i)0 Inalerial Inatters have Come to my attention in connection with the examinarion giving me cause to beli¢v¢ tliat in any materiELI resp¢ct- accounting r¢¢oi'ds were not Icept in respect of the chEwity as required by section 130 of tlig Act., or 2. th¢ a¢¢ouiits do iiot accord witli tliose records. 3, the a¢couiit$ do not comply with the applicable requirements concerning tlie form and coiitent of accounts set out iii the Charities (Accoullts and Reports) R¢gulatlOLiS 2008 other tliaii any r¢quirern¢iit that the accounts give a true and fair view which 1$ not a matter considered as part of an independent examination. I have no con¢ei'i)s aiid have Come across no oilier niatter$ iii ¢onnec¢iot) witli Ilie eX￿nin￿[lOn to whicli attention should be di-awn in this report on oi'dcr to enable EL proper ￿lders￿)dI1]g of the accoullls lo be reaclied. Richard Knoyle ACA FCCA B&ker Knoyle Accountqc ticy Liniiled RG19 Orbit Business Centre Rhydycar Business Park Merthyr Tydfil, CF48 IDL. Date...........,.......,..........,......,,,. Page 5 CWMBACH MALE CKOIR Charity Number.. 702473 R¢c¢ipts and Payments Account for the year ended 3 1st December 2024 Unrestrlcted Rest￿Cted Funds Funds TotAIs 2024 T¢btAIs 2023 Reeelpts Choristej's contributions Raftle income Gift aid i'eceipts Chorister ¢oniribution5 to lour costs Chorister contrfjbution to social tours CD Sdles Contribiition& to IlDthing costs Concw'r incomc & 3iniil&i' Interest rccEived Sundry income Dottations Introduction of travel bank accounts 9,660 1,507 2,048 9.660 1,507 2.048 29,970 18,746 483 2,457 22,079 2,944 413 531 8,762 2,043 29,970 18,746 483 2,457 22,079 2,888 413 531 575 8,438 1,768 455 56 6,865 Totgl Recelpts 42,067 48,772 90,839 PRyments lllsuranccg and &ib8cripiions Sunthy expenses Don8lions Uniforms & clothmg Printin¥, sl&iionery and telephone Concei'ts & travel costs Foreign to[￿ LJ,%ls Sociftl tour costs Renlal co%t8 SulldLy ¢qiiiprn¢ni pur¢ha8 Nlusic team expenses Nlarkeling co515 1,998 1,998 20 517 3,625 135 6.644 2,500 13,340 251 20,383 10,600 2,500 13,340 251 20,383 38,900 18,917 140 1,275 7,214 309 28,300 18,917 140 1.275 7,214 309 2,420 8,184 3,345 Total Payments 58,009 47.217 1115,226 27,001 Net of PsLyment& 115,942 1,555 114,387 3,056 TrMnsfer8 between fundy 6.500 6.500) Caih lunds brought I￿￿,￿rd 95,027 6,875 101,901 98,846 Cll5h lunds this perlod end 1,930 87514 lQl,gUI Pagc 6 CWMBACH MALE CHOIR Chatlty Number.. 702473 Statement of Assets and Liabilities for tli¢ year ended 3 1st Dec¢mber 2024 Unrestricted Funds Restrlcted Fvnds TotAIs 2024 Totals 2023 Cash Funds Cash at btm TTavel ao¢ount Total Cash Funds 85,585 85,585 1,930 87,515 95,027 6,874 101,9111 1,930 1,930 Other monetary assets Other debtors Tour costs paid in advan¢¢ Stock Tot&l monetary assets 1,440 1,440 37.850 37,850 1,440 37,850.00 39,290 LIAbllltles Accruals 5,030 5,030 A D BoAler- Trustee Dated: Ilelllted party trYdnsa¢tions'. All trustees &r¢ a¢iiv¢ membei's of th¢ choir, and inake weekly Contributions identical to all other choristers. Trustc¢s and fainily who talce p&rt in foreig tours, Coniibute toward their costs in liiic with all choristers. Travel xccount: The figures reported for the ycar eiid¢d 31 st December 2024 include transactions which Iiave been transacted tlirough tbe 'tt?vel accounts, which are opcrnted by the choir, to &ccount 'For foreign tours. Additionally, tlie coinparative figures for 2021 hav¢ be¢n amend¢d ID reflect the 2023 transactions throiigh the travel accounts. Previoiisly r¢ported fin￿]¢1&1 statements havc not includcd traiis