REGISTERED CHARITY NUMBER: 801073
Trustees' Report and
Financial Statements for the year ended 31 October 2023
for
Music in Country Churches
Stephenson Smart (East Anglia) Limited Chartered accountants & statutory auditor 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 2023
| 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 2023
| Patron | His Majesty The King |
|---|---|
| Trustees | Mr Matthew Rice (Chairman) |
| Mr Robert Abel Smith | |
| Mr Nigel Savory | |
| Sir John Parsons KCVO | |
| Mrs Anna Stanton – appointed 27 February 2024 | |
| Director | Dr Philip Burnett |
| Principal address | PO Box 1645 |
| Oxford | |
| OX4 9PE | |
| Website | musicincountrychurches.org.uk |
| Registered charity number | 801073 |
| Independent auditors | Stephenson Smart (East Anglia) Limited |
| Chartered Accountants & Statutory Auditor | |
| 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 |
1
Music in Country Churches
Trustees' Report for the year ended 31 October 2023
The Trustees present their report with the financial statements of the Charity for the year ended 31 October 2023. 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 as a charitable trust in 1989 with two aims: to arrange concerts in rural churches of exceptional beauty and interest, and to raise funds to assist those churches with the costs of their repair and maintenance. The Charity is particularly keen to use its resources to support young and emerging musicians and to this end it engages performers from music colleges for some of its concerts.
Achievement and performance
The Charity held concerts at churches in Warkton (Northamptonshire), Ramsbury (Wiltshire), Widecomb-in-the-Moor (Devon) and Snettisham (Norfolk) during the year. Donations totalling £8,000 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 at the year end was invested in the IWI Balance A Income Fund. This was a medium risk unit trust for those who seek a return in the form of both capital appreciation and income. Following the year end the investment was sold for cash.
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 2024 at Northleach (Gloucestershire) in May, Chagford (Devon) in June, Clare (Suffolk) in June, Geddington (Northamptonshire) in July, Coleman's Hatch (East Sussex) in July and King's Lynn (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.
2
Music in Country Churches
Trustees' Report for the year ended 31 October 2023
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".
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
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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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 27 August 2024 and signed on its behalf by:
........................................................................ Mr Matthew Rice - Chairman
3
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 2023 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'.
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In our opinion the financial statements:
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give a true and fair view of the state of the Charity's affairs as at 31 October 2023 and of its incoming resources and application of resources, for the year then ended;
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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
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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.
4
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:
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the information given in the Trustees Report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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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 144 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:
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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.
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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.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.
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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.
5
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 Chartered accountants & statutory auditor 22-26 King Street King's Lynn Norfolk PE30 1HJ
Date: 27 August 2024
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Music in Country Churches
Statement of Financial Activities for the year ended 31 October 2023
| 31.10.23 | 31.10.22 | ||
|---|---|---|---|
| Total funds | Total funds | ||
| Notes | £ | £ | |
| Income and endowments from | |||
| Donations and legacies | 2 | 29,280 | 48,476 |
| Other trading activities | 3 | 26,935 | 24,687 |
| Investment income | 4 | 647 | 566 |
| Total | 56,862 | 73,729 | |
| Expenditure on | |||
| Charitable activities | 5 | ||
| Concert expenses | 52,930 | 53,041 | |
| Grants payable | 8,000 | 6,500 | |
| Support costs | 16,159 | 13,821 | |
| Governance costs | 3,644 | 2,460 | |
| Total | 80,733 | 75,822 | |
| Net gains/(losses) on investments | 206 | (4,575) | |
| NET EXPENDITURE | (23,665) | (6,668) | |
| Reconciliation of funds | |||
| Total funds brought forward | 38,622 | 45,290 | |
| Total funds carried forward | 14,957 | 38,622 |
The notes form part of these financial statements
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Music in Country Churches
Statement of Financial Position 31 October 2023
| 31.10.23 | 31.10.22 | ||
|---|---|---|---|
| Total funds | Total funds | ||
| Notes | £ | £ | |
| Fixed assets | |||
| Tangible assets | 11 | 209 | 278 |
| Investments | 12 | 21,745 | 26,538 |
| 21,954 | 26,816 | ||
| Current assets | |||
| Debtors | 13 | 2,276 | 2,150 |
| Cash at bank | 1,280 | 12,747 | |
| 3,556 | 14,897 | ||
| Creditors | |||
| Amounts falling due within one year | 14 | (10,553) | (3,091) |
| Net current assets | (6,997) | 11,806 | |
| Total assets less current liabilities | 14,957 | 38,622 | |
| NET ASSETS | 14,957 | 38,622 | |
| Funds | 15 | ||
| Unrestricted funds | 14,957 | 38,622 | |
| Total funds | 14,957 | 38,622 |
The financial statements were approved by the Board of Trustees and authorised for issue on 27 August 2024 and were signed on its behalf by:
.............................................
Mr Matthew Rice - Chairman
The notes form part of these financial statements
8
Music in Country Churches
Statement of Cash Flows for the year ended 31 October 2023
| 31.10.23 | 31.10.22 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | (17,113) | (7,343) |
| Net cash used in operating activities | (17,113) | (7,343) | |
| Cash flows from investing activities | |||
| Purchase of fixed asset investments | - | (139) | |
| Sale of fixed asset investments | 4,999 | - | |
| Interest received | 15 | 3 | |
| Dividends received | 632 | 563 | |
| Net cash provided by investing activities | 5,646 | 427 | |
| Change in cash and cash equivalents in the | |||
| reporting period | (11,467) | (6,916) | |
| Cash and cash equivalents at the beginning | |||
| of the reporting period | 12,747 | 19,663 | |
| Cash and cash equivalents at the end of | |||
| the reporting period | 1,280 | 12,747 |
The notes form part of these financial statements
9
Music in Country Churches
Notes to the Statement of Cash Flows for the year ended 31 October 2023
| 1. | Reconciliation of net expenditure to net cash flow from operating | activities | ||
|---|---|---|---|---|
| 31.10.23 | 31.10.22 | |||
| £ | £ | |||
| Net expenditure for the reporting period (as per the Statement of | ||||
| Financial Activities) | (23,665) | (6,668) | ||
| Adjustments for: | ||||
| Depreciation charges | 69 | 93 | ||
| (Gain)/losses on investments | (206) | 4,575 | ||
| Interest received | (15) | (3) | ||
| Dividends received | (632) | (563) | ||
| (Increase)/decrease in debtors | (126) | 632 | ||
| Increase/(decrease) in creditors | 7,462 | (5,409) | ||
| Net cash used in operations | (17,113) | (7,343) | ||
| 2. | Analysis of changes in net funds | |||
| At | 1.11.22 | Cash flow | At 31.10.23 | |
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank | 12,747 | (11,467) | 1,280 | |
| Total | 12,747 | (11,467) | 1,280 |
The notes form part of these financial statements
10
Music in Country Churches
Notes to the Financial Statements for the year ended 31 October 2023
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% p.a. 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.
11
Music in Country Churches
Notes to the Financial Statements - continued for the year ended 31 October 2023
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 | ||
|---|---|---|---|
| 31.10.23 | 31.10.22 | ||
| £ | £ | ||
| Donations and gift aid | 29,280 | 48,476 | |
| 3. | Other trading activities | ||
| 31.10.23 | 31.10.22 | ||
| £ | £ | ||
| Concert income | 24,665 | 24,687 | |
| Tea towel sales | 2,270 | - | |
| 26,935 | 24,687 | ||
| 4. | Investment income | ||
| 31.10.23 | 31.10.22 | ||
| £ | £ | ||
| Income from listed investments | 632 | 563 | |
| Deposit account interest | 15 | 3 | |
| 647 | 566 |
5. Charitable activities costs
| Concert expenses Grants payable Support costs Governance costs |
Grant funding of activities Support Direct (see note costs (see Costs 6) note 7) £ £ £ 52,930 - - - 8,000 - - - 16,159 - - 3,644 52,930 8,000 19,803 |
Totals £ 52,930 8,000 16,159 3,644 |
|---|---|---|
| 80,733 |
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Music in Country Churches
Notes to the Financial Statements - continued for the year ended 31 October 2023
6. Grants payable
| Grants payable | ||
|---|---|---|
| 31.10.23 | 31.10.22 | |
| £ | £ | |
| Grants payable | 8,000 | 6,500 |
| The total grants paid to institutions during the year was as follows: | ||
| 31.10.23 | 31.10.22 | |
| £ | £ | |
| Grants to Churches | 8,000 | 6,500 |
7. Support costs
| Management £ Support costs 16,020 Governance costs - 16,020 |
Governance Finance costs £ £ 139 - - 3,644 139 3,644 |
Totals £ 16,159 3,644 19,803 |
|---|---|---|
8. Trustees' remuneration and benefits
There were no Trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.
Trustees' expenses
There were no Trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022.
9. Staff costs
| Staff costs | ||
|---|---|---|
| 31.10.23 | 31.10.22 | |
| £ | £ | |
| Wages and salaries | 10,800 | 10,800 |
| Pension costs | 137 | 137 |
| 10,937 | 10,937 | |
| The average monthly number of employees during the year was as follows: | ||
| 31.10.23 | 31.10.22 | |
| Staff | 1 | 1 |
No employees received emoluments in excess of £60,000.
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Music in Country Churches
Notes to the Financial Statements - continued for the year ended 31 October 2023
10. 2022 Comparatives for the statement of financial activities
| 2022 Comparatives for the statement of financial activities | |
|---|---|
| Unrestricted | |
| fund | |
| £ | |
| Income and endowments from | |
| Donations and legacies | 48,476 |
| Other trading activities | 24,687 |
| Investment income | 566 |
| Total | 73,729 |
| Expenditure on | |
| Charitable activities | |
| Concert expenses | 53,041 |
| Grants payable | 6,500 |
| Support costs | 13,821 |
| Governance costs | 2,460 |
| Total | 75,822 |
| Net gains/(losses) on investments | (4,575) |
| NET EXPENDITURE | (6,668) |
| Reconciliation of funds | |
| Total funds brought forward | 45,290 |
| Total funds carried forward | 38,622 |
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Music in Country Churches
Notes to the Financial Statements - continued for the year ended 31 October 2023
11. Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Computer | |
| equipment | |
| £ | |
| Cost | |
| At 1 November 2022 and 31 October 2023 | 6,335 |
| Depreciation | |
| At 1 November 2022 | 6,057 |
| Charge for year | 69 |
| At 31 October 2023 | 6,126 |
| Net book value | |
| At 31 October 2023 | 209 |
| At 31 October 2022 | 278 |
12. Fixed asset investments
| Cash and Listed settlements investments pending £ £ Market value At 1 November 2022 26,399 139 Disposals (5,442) - Fair value movement 649 - At 31 October 2023 21,606 139 Net book value At 31 October 2023 21,606 139 At 31 October 2022 26,399 139 There were no investment assets outside the UK. Cost or valuation at 31 October 2023 is represented by: Cash and Listed settlements investments pending £ £ 22,368.49 units in ETFS Ltd IW&I Balanced A Income Fund 21,606 139 |
Totals £ 26,538 (5,442) 649 21,745 21,745 26,538 Totals £ 21,745 |
|---|---|
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Music in Country Churches
Notes to the Financial Statements - continued for the year ended 31 October 2023
| 13. | Debtors: amounts falling due within one year | ||||
|---|---|---|---|---|---|
| 31.10.23 | 31.10.22 | ||||
| £ | £ | ||||
| Other debtors | 2,150 | 2,025 | |||
| Prepayments | 126 | 125 | |||
| 2,276 | 2,150 | ||||
| 14. | Creditors: amounts falling due within one year | ||||
| 31.10.23 | 31.10.22 | ||||
| £ | £ | ||||
| Taxation and social security | 53 | 233 | |||
| Other creditors | 10,500 | 2,858 | |||
| 10,553 | 3,091 | ||||
| 15. | Movement in funds | ||||
| Net | |||||
| movement | At | ||||
| At 1.11.22 | in funds | 31.10.23 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 38,622 | (23,665) | 14,957 | ||
| TOTAL FUNDS | 38,622 | (23,665) | 14,957 | ||
| 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 | 56,862 | (80,733) | 206 | (23,665) | |
| TOTAL FUNDS | 56,862 | (80,733) | 206 | (23,665) |
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Music in Country Churches
Notes to the Financial Statements - continued for the year ended 31 October 2023
15. Movement in funds - continued
Comparatives for movement in funds
| At Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1.11.21 in funds 31.10.22 £ £ £ 45,290 (6,668) 38,622 45,290 (6,668) 38,622 |
|---|---|
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 | 73,729 | (75,822) | (4,575) | (6,668) |
| TOTAL FUNDS | 73,729 | (75,822) | (4,575) | (6,668) |
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 1.11.21 in funds 31.10.23 £ £ £ 45,290 (30,333) 14,957 45,290 (30,333) 14,957 |
|---|---|
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 | 130,591 | (156,555) | (4,369) | (30,333) |
| TOTAL FUNDS | 130,591 | (156,555) | (4,369) | (30,333) |
17
Music in Country Churches
Notes to the Financial Statements - continued for the year ended 31 October 2023
16. Related party disclosures
Mr Nigel Savory is a trustee of The Lady Hind Trust from which the Charity received a donation of £5,000 (2022 : £5,000) during the year.
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Music in Country Churches
Detailed Statement of Financial Activities for the year ended 31 October 2023
| 31.10.23 | 31.10.22 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations and gift aid | 29,280 | 48,476 |
| Other trading activities | ||
| Concert income | 24,665 | 24,687 |
| Tea towel sales | 2,270 | - |
| 26,935 | 24,687 | |
| Investment income | ||
| Income from listed investments | 632 | 563 |
| Deposit account interest | 15 | 3 |
| 647 | 566 | |
| Total incoming resources | 56,862 | 73,729 |
| Expenditure | ||
| Charitable activities | ||
| Tea towel costs | 1,571 | - |
| Concert expenses | 51,359 | 53,041 |
| Grants to institutions | 8,000 | 6,500 |
| 60,930 | 59,541 | |
| Support costs | ||
| Management | ||
| Wages | 10,800 | 10,800 |
| Pensions | 137 | 137 |
| Insurance | 215 | 188 |
| Stationery and postage | 3,332 | 1,978 |
| Other office costs | 1,467 | 415 |
| Travelling | - | 67 |
| Computer equipment | 69 | 93 |
| 16,020 | 13,678 | |
| Finance | ||
| Bank charges | 139 | 143 |
This page does not form part of the statutory financial statements
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Music in Country Churches
Detailed Statement of Financial Activities for the year ended 31 October 2023
| 31.10.23 | 31.10.22 | |
|---|---|---|
| £ | £ | |
| Finance | ||
| Governance costs | ||
| Auditors' remuneration | 2,300 | 1,800 |
| Legal and professional fees | 1,344 | 660 |
| 3,644 | 2,460 | |
| Total resources expended | 80,733 | 75,822 |
| Net expenditure before gains and losses | (23,871) | (2,093) |
| Realised recognised gains and losses | ||
| Gains/(losses) on other investment assets | 206 | (4,575) |
| Net expenditure | (23,665) | (6,668) |
This page does not form part of the statutory financial statements
20