2021-10-31-accounts - Music In Country Churches

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

REGISTERED CHARITY NUMBER: 801073

Trustees' Report and

Financial Statements for the year ended 31 October 2021

for

Music in Country Churches

Stephenson Smart (East Anglia) Limited 22-26 King Street

King's Lynn Norfolk PE30 1HJ

Music in Country Churches

Contents of the Financial Statements for the year ended 31 October 2021

	Page
Reference and Administrative Details	1
Trustees' Report	2 to 3
Report of the Independent Auditors	4 to 6
Statement of Financial Activities	7
Statement of Financial Position	8
Statement of Cash Flows	9
Notes to the Statement of Cash Flows	10
Notes to the Financial Statements	11 to 18
Detailed Statement of Financial Activities	19 to 20

Music in Country Churches

Reference and Administrative Details for the year ended 31 October 2021

Patron	His Royal Highness The Prince of Wales
Trustees	Mr Matthew Rice (Chairman)
	Mr Robert Abel Smith
	Mr Nigel Savory
	Sir John Parsons KCVO
	Dr Benedict Wilkinson (resigned 2.11.2020)
	Lady Solti (deceased 31.3.2021)
Principal address	PO Box 1645
	Oxford
	OX4 9PE
Website	musicincountrychurches.org.uk
Registered charity number	801073
Independent auditors	Stephenson Smart (East Anglia) Limited
	22-26 King Street
	King's Lynn
	Norfolk
	PE30 1HJ
Solicitors	Farrer & Co LLP
	65-66 Lincoln's Inn Fields
	London
	WC2A 3LH
Investment managers	Investec Wealth & Investment Ltd
	The Plaza
	100 Old Hall Street
	Liverpool
	L3 9AB

Music in Country Churches

Trustees' Report for the year ended 31 October 2021

The Trustees present their report with the financial statements of the Charity for the year ended 31 October 2021. The trustees have adopted the provisions of Accounting 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) (effective 1 January 2019).

Objectives and activities

Music in Country Churches was established on 14 February 1989 as a Charitable Trust in order to educate the public in music, predominantly by holding concerts in country churches. By raising monies from these concerts and through the support of many individuals and trusts, the Charity is able to make donations to all the churches in which concerts are held.

Achievement and performance

The Charity held concerts at churches in Bibury (Gloucestershire) and Dersingham (Norfolk) during the year. Donations totalling £6,000 were made to the churches where the concerts were held.

The Trustees have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

Financial review

The Charity’s investment portfolio is administered by Investec Wealth & Investment Ltd. In April 2021 the account ceased to be managed on a discretionary basis and was transferred to the IWI Fund Service, which offers a fully diversified, actively managed and cost-effective investment solution. The Charity’s holding is currently invested in the IWI Balanced A Income Fund. This is a medium risk unit trust for those who seek a return in the form of both capital appreciation and income.

The Trustees have carried out risk assessments and are satisfied with the results of their work. Major risks are always discussed at Trustees' meetings and Trustees examine the systems in place to mitigate those risks.

Reserves policy

The Trustees define the Charity's reserves as the value of assets over and above those which are required to meet its current commitments and planned expenditure. Trustees aim to have sufficient reserves to enable the Charity to meet its financial objectives for one year.

Future plans

Further concerts took place during 2022 at Minchinhampton (Gloucestershire) in May, Brecon (Wales) in July, Fotheringhay (Northamptonshire) in July and Cley-next-the-Sea (Norfolk) in July.

Structure, governance and management

The Charity is run by a Committee of Trustees who meet at least twice each year, but usually more often, to discuss not only matters of policy and direction, but also to make decisions about the way the Charity is run and to keep a close eye on budgetary matters. The Trustees have the power to appoint new Trustees. Training and induction of new Trustees is undertaken on an informal and continual basis through discussions with existing Trustees and attendance at board meetings.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 (The Financial Reporting Standard applicable in the UK and Republic of Ireland).

Music in Country Churches

Trustees' Report for the year ended 31 October 2021

Statement of Trustees' responsibilities - continued

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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 other irregularities.

Approved by order of the Board of Trustees on 31 August 2022 and signed on its behalf by:

........................................................................ Mr Matthew Rice - Chairman

Report of the Independent Auditors to the Trustees of Music in Country Churches

Opinion

We have audited the financial statements of Music in Country Churches (the 'charity') for the year ended 31 October 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:
give a true and fair view of the state of the charity's affairs as at 31 October 2021 and of its incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Trustees of Music in Country Churches

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

the information given in the trustees Report is inconsistent in any material respect with the financial statements; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

As explained more fully in the Statement of Trustees' Responsibilities, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than the one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.
Conclude on the appropriateness of the trustees' use of going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Charity to cease to continue as going concern.

Report of the Independent Auditors to the Trustees of Music in Country Churches

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair representation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's Trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Stephenson Smart (East Anglia) Limited 22-26 King Street King's Lynn Norfolk PE30 1HJ

Date: 31 August 2022

Music in Country Churches

Statement of Financial Activities for the year ended 31 October 2021

		31.10.21	31.10.20
		Unrestricted
		funds	Total funds
	Notes	£	£
Income and endowments from
Donations and legacies	2	23,262	19,778
Other trading activities	3	16,136	420
Investment income	4	220	697
Total		39,618	20,895
Expenditure on
Raising funds	5	857	1,321
Charitable activities	6
Concert expenses		28,466	3,220
Grants payable		6,000	1,000
Support costs		12,799	17,951
Governance costs		3,336	1,920
Total		51,458	25,412
Net gains/(losses) on investments		5,339	(3,177)
NET EXPENDITURE		(6,501)	(7,694)
Reconciliation of funds
Total funds brought forward		51,791	59,485
Total funds carried forward		45,290	51,791

The notes form part of these financial statements

Music in Country Churches

Statement of Financial Position 31 October 2021

		31.10.21	31.10.20
		Unrestricted
		funds	Total funds
	Notes	£	£
Fixed assets
Tangible assets	12	371	511
Investments	13	30,974	26,563
		31,345	27,074
Current assets
Debtors	14	2,782	2,118
Cash at bank		19,663	24,050
		22,445	26,168
Creditors
Amounts falling due within one year	15	(8,500)	(1,451)
Net current assets		13,945	24,717
Total assets less current liabilities		45,290	51,791
NET ASSETS		45,290	51,791
Funds	16
Unrestricted funds		45,290	51,791
Total funds		45,290	51,791

The financial statements were approved by the Board of Trustees and authorised for issue on 31 August 2022 and were signed on its behalf by:

.............................................

Mr Matthew Rice - Chairman

The notes form part of these financial statements

Music in Country Churches

Statement of Cash Flows for the year ended 31 October 2021

		31.10.21	31.10.20
	Notes	£	£
Cash flows from operating activities
Cash generated from operations	1	(5,580)	(4,037)
Net cash used in operating activities		(5,580)	(4,037)
Cash flows from investing activities
Purchase of tangible fixed assets		-	(601)
Purchase of fixed asset investments		(29,587)	(4,051)
Sale of tangible fixed assets		45	-
Sale of fixed asset investments		30,515	25,408
Dividends received		220	697
Net cash provided by investing activities		1,193	21,453

Change in cash and cash equivalents in the
reporting period		(4,387)	17,416
Cash and cash equivalents at the beginning
of the reporting period		24,050	6,634
Cash and cash equivalents at the end of
the reporting period		19,663	24,050

The notes form part of these financial statements

Music in Country Churches

Notes to the Statement of Cash Flows for the year ended 31 October 2021

1.	Reconciliation of net expenditure to net cash flow from operating	activities
			31.10.21	31.10.20
			£	£
	Net expenditure for the reporting period (as per the Statement of
	Financial Activities)		(6,501)	(7,694)
	Adjustments for:
	Depreciation charges		123	120
	(Gain)/losses on investments		(5,339)	3,177
	Profit on disposal of fixed assets		(28)	-
	Dividends received		(220)	(697)
	(Increase)/decrease in debtors		(664)	1,008
	Increase in creditors		7,049	49
	Net cash used in operations		(5,580)	(4,037)
2.	Analysis of changes in net funds
	At	1.11.20	Cash flow	At 31.10.21
		£	£	£
	Net cash
	Cash at bank	24,050	(4,387)	19,663
		24,050	(4,387)	19,663
	Total	24,050	(4,387)	19,663

The notes form part of these financial statements

Music in Country Churches

Notes to the Financial Statements for the year ended 31 October 2021

1. Accounting policies

Basis of preparing the financial statements

The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 25% on reducing balance

Taxation

The Charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees in furtherance of the general objectives of the Charity.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors. There are no restricted funds.

Music in Country Churches

Notes to the Financial Statements - continued for the year ended 31 October 2021

1. Accounting policies - continued

Pension costs and other post-retirement benefits

The Charity operates a defined contribution pension scheme. Contributions payable to the Charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. Donations and legacies Donations and gift aid 3. Other trading activities Concert income 4. Investment income Income from listed investments 5. Raising funds Investment management costs Portfolio management 6. Charitable activities costs Concert expenses Grants payable Support costs Governance costs	31.10.21 31.10.20 £ £ 23,262 19,778 31.10.21 31.10.20 £ £ 16,136 420 31.10.21 31.10.20 £ £ 220 697 31.10.21 31.10.20 £ £ 857 1,321 Grant funding of activities Support Direct (see note costs (see Costs 7) note 8) Totals £ £ £ £ 28,466 - - 28,466 - 6,000 - 6,000 - - 12,799 12,799 - - 3,336 3,336 28,466 6,000 16,135 50,601	31.10.21 31.10.20 £ £ 23,262 19,778 31.10.21 31.10.20 £ £ 16,136 420 31.10.21 31.10.20 £ £ 220 697 31.10.21 31.10.20 £ £ 857 1,321 Grant funding of activities Support Direct (see note costs (see Costs 7) note 8) Totals £ £ £ £ 28,466 - - 28,466 - 6,000 - 6,000 - - 12,799 12,799 - - 3,336 3,336 28,466 6,000 16,135 50,601
		50,601

Music in Country Churches

Notes to the Financial Statements - continued for the year ended 31 October 2021

7. Grants payable

Grants payable
	31.10.21	31.10.20
	£	£
Grants payable	6,000	1,000
The total grants paid to institutions during the year were as follows:
	31.10.21	31.10.20
	£	£
Grants to Churches	6,000	1,000

8. Support costs

Management £ Support costs 11,899 Governance costs - 11,899	Governance Finance costs £ £ 900 - - 3,336 900 3,336	Totals £ 12,799 3,336
		16,135

9. Trustees' remuneration and benefits

There were no Trustees' remuneration or other benefits for the year ended 31 October 2021 nor for the year ended 31 October 2020.

Trustees' expenses

There were no Trustees' expenses paid for the year ended 31 October 2021 nor for the year ended 31 October 2020.

10. Staff costs

Staff costs
	31.10.21	31.10.20
	£	£
Wages and salaries	8,400	9,764
Pension costs	71	81
	8,471	9,845

The average monthly number of employees during the year was as follows:

31.10.21 31.10.20 1

No employees received emoluments in excess of £60,000.

Music in Country Churches

Notes to the Financial Statements - continued for the year ended 31 October 2021

11. 2020 Comparatives for the statement of financial activities

2020 Comparatives for the statement of financial activities
	Unrestricted
	funds
	£
Income and endowments from
Donations and legacies	19,778
Other trading activities	420
Investment income	697
Total	20,895
Expenditure on
Raising funds	1,321
Charitable activities
Concert expenses	3,220
Grants payable	1,000
Support costs	17,951
Governance costs	1,920
Total	25,412
Net gains/(losses) on investments	(3,177)
NET EXPENDITURE	(7,694)
Reconciliation of funds
Total funds brought forward	59,485
Total funds carried forward	51,791

Music in Country Churches

Notes to the Financial Statements - continued for the year ended 31 October 2021

12. Tangible fixed assets

			Computer
			equipment
			£
Cost
At 1 November 2020			7,998
Disposals			(1,663)
At 31 October 2021			6,335
Depreciation
At 1 November 2020			7,487
Charge for year			123
Eliminated on disposal			(1,646)
At 31 October 2021			5,964
Net book value
At 31 October 2021			371
At 31 October 2020			511
Fixed asset investments
		Cash and
	Listed	cash
	investments	equivalents	Totals
	£	£	£
Market value
At 1 November 2020	23,463	3,100	26,563
Additions	29,587	-	29,587
Disposals	(26,411)	(3,100)	(29,511)
Fair value movement	4,335	-	4,335
At 31 October 2021	30,974	-	30,974
Net book value
At 31 October 2021	30,974	-	30,974
At 31 October 2020	23,463	3,100	26,563
There were no investment assets outside the UK.
Valuation at 31 October 2021 is represented by:
			Listed
			investments
			£
27,410.84 Units in ETFS Ltd IW&I Balanced A Income Fund			30,974

13. Fixed asset investments

Music in Country Churches

Notes to the Financial Statements - continued for the year ended 31 October 2021

14.	Debtors: amounts falling due within one year
				31.10.21	31.10.20
				£	£
	Other debtors			2,683	2,118
	Prepayments			99	-
				2,782	2,118
15.	Creditors: amounts falling due within one year
				31.10.21	31.10.20
				£	£
	Trade creditors			-	1
	Taxation and social security			1,000	100
	Other creditors			7,500	1,350
				8,500	1,451
16.	Movement in funds
				Net
				movement	At
			At 1.11.20	in funds	31.10.21
			£	£	£
	Unrestricted funds
	General fund		51,791	(6,501)	45,290
	TOTAL FUNDS		51,791	(6,501)	45,290
	Net movement in funds, included in the above are as follows:
		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		£	£	£	£
	Unrestricted funds
	General fund	39,618	(51,458)	5,339	(6,501)
	TOTAL FUNDS	39,618	(51,458)	5,339	(6,501)

Music in Country Churches

Notes to the Financial Statements - continued for the year ended 31 October 2021

16. Movement in funds - continued

Comparatives for movement in funds

At Unrestricted funds General fund TOTAL FUNDS	Net movement At 1.11.19 in funds 31.10.20 £ £ £ 59,485 (7,694) 51,791 59,485 (7,694) 51,791

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	£	£	£	£
Unrestricted funds
General fund	20,895	(25,412)	(3,177)	(7,694)
TOTAL FUNDS	20,895	(25,412)	(3,177)	(7,694)

A current year 12 months and prior year 12 months combined position is as follows:

At Unrestricted funds General fund TOTAL FUNDS	Net movement At 1.11.19 in funds 31.10.21 £ £ £ 59,485 (14,195) 45,290 59,485 (14,195) 45,290

Music in Country Churches

Notes to the Financial Statements - continued for the year ended 31 October 2021

16. Movement in funds - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	£	£	£	£
Unrestricted funds
General fund	60,513	(76,870)	2,162	(14,195)
TOTAL FUNDS	60,513	(76,870)	2,162	(14,195)

17. Related party disclosures

Mr Nigel Savory is a trustee of The Lady Hind Trust from which the Charity received a donation of £5,000 (2020 : £5,000) during the year.

Music in Country Churches

Detailed Statement of Financial Activities for the year ended 31 October 2021

	31.10.21	31.10.20
	£	£
Income and endowments
Donations and legacies
Donations and gift aid	23,262	19,778
Other trading activities
Concert income	16,136	420
Investment income
Income from listed investments	220	697
Total incoming resources	39,618	20,895
Expenditure
Investment management costs
Portfolio management	857	1,321
Charitable activities
Concert expenses	28,466	3,220
Grants to institutions	6,000	1,000
	34,466	4,220
Support costs
Management
Wages	8,400	9,764
Pensions	71	81
Insurance	71	857
Telephone	-	63
Stationery and postage	2,595	3,781
Other office costs	667	1,990
Sundries	-	80
Travelling	-	180
Computer equipment	123	120
Loss on sale of tangible fixed assets	(28)	-
	11,899	16,916
Finance
Bank charges	900	1,035
Governance costs
Auditors' remuneration	1,650	1,350
Carried forward	1,650	1,350

This page does not form part of the statutory financial statements

Music in Country Churches

Detailed Statement of Financial Activities for the year ended 31 October 2021

	31.10.21	31.10.20
	£	£
Governance costs
Brought forward	1,650	1,350
Legal and professional fees	1,686	570
	3,336	1,920
Total resources expended	51,458	25,412
Net expenditure before gains and losses	(11,840)	(4,517)
Realised recognised gains and losses
Gains/(losses) on other investment assets	5,339	(3,177)
Net expenditure	(6,501)	(7,694)

This page does not form part of the statutory financial statements