# **Strathclyde Youth Jazz Orchestra Trust Annual Accounts** **for the year ending 31 July 2024** ## **Strathclyde Youth Jazz Orchestra Trust** ## **Annual Report for the year ended 31 July 2024** ||Page| |---|---| |Report of the Independent Examiner|2| |Report of the Trustees|3-4| |Statement of Financial Activities|5| |Balance Sheet|6| |Notes to the Accounts|7-8| 1 ## **Independent Examiner's Report to the Trustees of Strathclyde Youth Jazz Orchestra Trust** I report on the accounts for the year ended 31 July 202 4 set out on pages five to eight. ## **Respective responsibilities of trustees and examiner** The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. ## **Basis of the independent examiner's report** My examination was carried out in accordance with Regulation 11 of the 2006 Accounts Regulation. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: - (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and - to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Chartered Accountant Watson & Company Oakfield House 378 Brandon Street Motherwell NORTH LANARKSHIRE ML1 1XA 22nd April 2025 Date: ............................................. 2 STRATHCLYDE YOUTH JAZZ ORCHESTRA PEPFOFlNpI￿0P￿4ThITVNmEs&MZzVR4IN1NGF0R You1￿ MUSICIIJIS Strathclyde GlasSU STRATHCLYDE YOUTH JAZZ ORCHESTRA TRUST REPORT ON SEASON 2023-24 Strathclyde Youth Jazz Orchestra Trust is constituted by Deed of Trust and is a recognised Scottlsh Charlty, No SC029371. Its address is the University of Strathctyde, Mccance Buildlng. 16 Rlchmond Street During the period in question, the Trustees were= Background SYJO Trust was fomially estsblished in 1999 as a successor to the Trust set up in 1996 on the dissolution of Strathclyde Regional Counal. The original aim to promote the highest possible standards of jazz music making for young people in the West of Scotland through the support of an advanced jazz orchestra ISYJO) has been expanded in recent years. initially to create dirrerent training levels and. more recenoy, to deliver a range of opportunities and support for a much wider communtty of children and young people. particularly those suffering disadvantage, inequality and exclusion, whose circumstan￿5 mean that they may not have the same opportunities as others to take part in high quality music activity. Page 3 ## **Activity** ## **Finance** 22nd April 2025 **, Chairman** ## **Strathclyde Youth Jazz Orchestra Trust Charity No. SC029371** ## **Statement of Financial Activities : For the Year to 31 July 2024** |||**Income**|**Funds:**|**Funds:**||**Endowed**||**Total**||**Total**| |---|---|---|---|---|---|---|---|---|---|---| |||**General**||**Restricted**||**Fund**||**31.07.24**||**31.07.23**| |||**Purposes**||||||||| ||**Notes**|**£**||**£**||**£**||**£**||**£**| |**Incoming Resources**||||||||||| |Donations||3,000.00||||||3,000.00||4,146.70| |Local Authority Grants||0.00||||||0.00||0.00| |Course Fees & Performance Fees||1,580.00||||||1,580.00||2,630.00| |Receipt of Bequeathed Funds|4|100,000.00||||||100,000.00||0.00| |Investment income: Deposit Income||3,972.92||||||3,972.92||1,453.80| |**Total incoming resources**||108,552.92||0.00||0.00||108,552.92||8,230.50| |**Expenditure**||||||||||| |**Direct charitable expenditure**||||||||||| |Fees - Directors, etc.|6|0.00||||||0.00||0.00| |Travel Expenses & Transport||0.00||||||0.00||0.00| |Musical Supplies & Repairs||0.00||||||0.00||0.00| |Accommodation & Rent||0.00||||||0.00||0.00| |Miscellaneous||0.00||||||0.00||0.00| |||0.00||0.00||0.00||0.00||0.00| |**Promotional Activities**||||||||||| |Miscellaneous||||||||0.00||0.00| |||0.00||0.00||0.00||0.00||0.00| |**Management & Administration**||||||||||| |General Manager Costs||7,197.78||||||7,197.78||7,194.72| |Fees of Independent Examiner||574.00||||||574.00||528.00| |Depreciation||232.40||||||232.40||309.86| |Loss on Revaluation of Instruments||0.00||||||0.00||0.00| |Miscellaneous||1,108.40||||||1,108.40||1,290.50| |||9,112.58||0.00||0.00||9,112.58||9,323.08| |**Total Expenditure**||9,112.58||0.00||0.00||9,112.58||9,323.08| |**Net Incoming Resources**||99,440.34||0.00||0.00||99,440.34||-1,092.58| |Total funds brought forward||50,287.48||0.00||0.00||50,287.48||51,380.06| |**Total funds carried forward**|£|149,727.82|£|0.00|£|0.00|£|149,727.82|£|50,287.48| |**Statement of Net Income for the Year to 31 July 2024**||||||||||| |||||**Total**||**Total**||||| |||||**2024**||**2023**||||| |||**£**||**£**||**£**||||| |**Gross income as above:**||||||||||| |General purposes fund||108,552.92||||||||| |Restricted funds||0.00||||||||| |||||108,552.92||8,230.50||||| |**Total expenditure as above:**||||||||||| |General purposes fund||9,112.58||||||||| |Restricted funds||0.00||||||||| |||||9,112.58||9,323.08||||| |**Net (expenditure)/income for the year**|||£|99,440.34|£|-1,092.58||||| 5 ## **Strathclyde Youth Jazz Orchestra Trust** ## **BALANCE SHEET AS AT 31 JULY 2024** |**Notes**
**FIXED ASSETS**
Computer Equipment
697.18
Musical Instruments and Charts
1 & 2
43,142.00
**CURRENT ASSETS**
Sweatshirts and T-shirts
3
0.00
Debtors & prepayments
3
106,440.64
**CURRENT LIABILITIES: payable within one year**
Creditors and Accruals
552.00
**Net Current Assets/(Liabilities)**
**Total Assets less Current Assets/(Liabilities)**
**LONG TERM LIABILITIES**
Creditors: payable after more than one year
Net Assets
**FUNDS**
**Income funds:**
General Purpose Fund|**2024**
**2023**
**£**
**£**
43,839.18
44,071.58
106,440.64
552.00
105,888.64
6,215.90
149,727.82
50,287.48
0.00
0.00
£
**149,727.82**
£
**50,287.48**
£
**149,727.82**
£
**50,287.48**| |---|---| ## Chairman On behalf of the Board of Trustees 22nd April 2025 6 **Strathclyde Youth Jazz Orchestra Trust** ## **Notes to the Accounts for the Year Ended 31 July 2024** ## **1 Accounting Policies** ## **General** 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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statement have been prepared under the historical cost convention. ## **Depreciation Policy** Due to the nature of the assets, being mainly musical scripts, and the fact that they generally hold their value, no depreciation has been provided in the year. Computer equipment is depreciated 25% reducing balance method over the useful economic life. At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. ## **2 Fixed Assets for use by the Trust** |Net Book Value at
1 August 2023
£
Musical Instruments
942.00
Musical Charts
42,200.00
Computer Equipment
929.58
44,071.58|Revaluation/
Depreciation
Net Book Value at
during period
31 July 2024
£
£
0.00
942.00
0.00
42,200.00
-232.40
697.18
-232.40
43,839.18| |---|---| NOTE: The estimated replacement cost of the instruments is £12,361 ## **3 Analysis of Net Assets by Fund** |Fixed Assets
Current Assets
Current Liabilities
Long Term Liabilities
Fund Balance|General
Purpose Fund
£
43,839.18
106,440.64
(552.00)
0.00
149,727.82|Endowed
Funds
£
0.00
0.00|2024
Total
£
43,839.18
106,440.64
(552.00)
0.00| |---|---|---|---| ||||149,727.82| ## **4 Funds and Fund Transfers** Strathclyde Region Fund This fund, which is held in trust by Glasgow City Council, under a separate Trust, was set up originally by Strathclyde Regional Council, with the purpose of helping to fund the continuing activities of the Strathclyde Youth Jazz Orchestra (SYJO) Trust. In accordance with the stated terms of the deed, the revenue from the fund is transferred annually to the Strathclyde Youth Jazz Orchestra Trust's General Purpose Fund. During the year to 31 July 2024, the Trustees of SYJO have decided that the bequeathed funds held in the separate Trust set up by the Strathclyde Regional Council will be released to SYJO and held in general fund in order to boost the Trust's reserves and with the aim to earn higher interest income. 7 ## **5 Trustees' Remuneration and Expenses** No remuneration, directly or indirectly, out of the funds of the Trust, was paid or payable for the year, to any trustee or to any person or persons known to be connected with any of them. No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the year. ## **6 Fee - Directors etc.** Fees - Directors etc. above comprise Basic National Superannuation Total Insurance £ £ £ £ Director of Music - - - - Part-time Tutors - - - - - - - - ## **7 Fees paid to Independent Examiner** Fees paid to Independent Examiner comprise: Fees for Independent Examination 574.00 Fees for other services - 574.00 8