REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2023 |
FOR |
ISLAND CONCERNS LTD |
(A COMPANY LIMITED BY GUARANTEE) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2023 |
FOR |
ISLAND CONCERNS LTD |
(A COMPANY LIMITED BY GUARANTEE) |
ISLAND CONCERNS LTD |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 | to | 5 |
Notes to the Financial Statements | 6 | to | 10 |
ISLAND CONCERNS LTD (REGISTERED NUMBER: 02683032) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JANUARY 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 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 |
Objectives and aims |
The principal activities are to promote, improve, develop and maintain public education in and appreciation of the art and science of music in all its aspects by the presentation of public concerts and recitals and by such other ways as the company through its board of directors shall determine from time to time. |
ACHIEVEMENT AND PERFORMANCE |
This report covers the year of trading as a registered charity from 1st February 2022 to 31st January 2023. |
The main activity this year was the 5 year commemoration of the Defence of Cowes and East Cowes by the Polish warship, ORP Blyskawica. A ship that was built in Cowes in 1936 and returned to Cowes in 1942 for a routine service only to find itself a centre of the only dedicated raid on Cowes by the Luftwarft on 4-5th May 1942. The captain of the ORP Blyskawica, Captain Franci, against Admiralty regulations, fired its guns which greatly helped to reduce the impact of the raid on Cowes. |
We commemorate this anniversary every year with wreath laying ceremonies but every 5 years more significant events tale place including a public piano recital at the Royal Yacht Squadron by no less than the grand-daughter of Captain Franci, Eva Maria Doroskzowska, who is a professional pianist teaching at the Royal Academy of Music in London. |
Much of the money raised this year was diverted to Ukraine based charities including the recital fee of Eva Maria and the grand-piano hire charge by Ringwood based Venable Pianos. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
ISLAND CONCERNS LTD (REGISTERED NUMBER: 02683032) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JANUARY 2023 |
Trustees |
Company Secretary |
Approved by order of the board of trustees on |
ISLAND CONCERNS LTD |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 JANUARY 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 15,491 |
ISLAND CONCERNS LTD (REGISTERED NUMBER: 02683032) |
BALANCE SHEET |
31 JANUARY 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds | 15,491 |
TOTAL FUNDS | 15,491 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
ISLAND CONCERNS LTD (REGISTERED NUMBER: 02683032) |
BALANCE SHEET - continued |
31 JANUARY 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
ISLAND CONCERNS LTD |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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. |
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. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
ISLAND CONCERNS LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2023 |
2. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Event income | 3,598 | - |
3. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Interest received | 72 | 2 |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 January 2023 nor for the year ended 31 January 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 January 2023 nor for the year ended 31 January 2022. |
5. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Investment income |
EXPENDITURE ON |
Raising funds |
Other |
Total |
ISLAND CONCERNS LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2023 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted |
fund |
£ |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD |
15,491 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Directors loan |
9. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.2.22 | in funds | 31.1.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 15,491 | (581 | ) | 14,910 |
TOTAL FUNDS | (581 | ) | 14,910 |
ISLAND CONCERNS LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2023 |
9. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 3,962 | (4,543 | ) | (581 | ) |
TOTAL FUNDS | ( |
) | (581 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.2.21 | in funds | 31.1.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 15,935 | (444 | ) | 15,491 |
TOTAL FUNDS | 15,935 | (444 | ) | 15,491 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2 | (446 | ) | (444 | ) |
TOTAL FUNDS | 2 | (446 | ) | (444 | ) |
ISLAND CONCERNS LTD |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2023 |
9. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.2.21 | in funds | 31.1.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 15,935 | (1,025 | ) | 14,910 |
TOTAL FUNDS | 15,935 | (1,025 | ) | 14,910 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 3,964 | (4,989 | ) | (1,025 | ) |
TOTAL FUNDS | 3,964 | (4,989 | ) | (1,025 | ) |
The general fund is an unrestricted fund that can be used for charitable purposes as the trustees wish. |
There are no restricted funds. |
10. | RELATED PARTIES |
A balance of £13,057 (2022 - £12,642) was owed to R Milner (director). |