Charity registration number 1121152
Company registration number 06262998 (England and Wales)
MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr I A Yeoman
Mrs C G Jepson
Mrs M Jones
Charity number
1121152
Company number
06262998
Principal address
5 Risebridge Road
Romford
Essex
United Kingdom
RM2 5PR
Registered office
5 Risebridge Road
Romford
Essex
United Kingdom
RM2 5PR
Independent examiner
Russell Whitlock Accountancy Ltd
John Eccles House
Robert Robinson Avenue
Oxford
Oxfordshire
United Kingdom
OX4 4GP
MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
6
Notes to the financial statements
7 - 16
MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2023
- 1 -

The trustees present their report and accounts for the year ended 31 July 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The charity's objects are to advance the musical education of children and young people, aged 10 years and upwards in the London Borough of Havering and the surrounding area.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

 

Achievements and performance
Significant activities and achievements against objectives

During the period, the charity has performed with its military style marching band.

 

Activities have returned to a normal level now that the premises have been refurbished following the previously reported arson attack.

 

The instruments and other assets lost in the fire have been replaced.

Financial review

During the previous period, as a consequence of the fire the Band suffered a considerable loss of revenue due to the inability to practice in the hall, hold concerts or run charitable events.

 

The band hall has been refurbished and the instruments and uniforms that were lost in the fire have been replaced.

 

The band has returned to operating as normal during the period and the financial position is anticipated to return to previous pre fire and pre Covid-19 levels.

 

The trustees consider the charity's finances to be adequate to discharge its objectives and activities for the year ahead.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level at least equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Major risks

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

 

Structure, governance and management

The charity is a company limited by guarantee. It is governed by a memorandum and articles of association.

MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 2 -

The trustees, who are also the directors for the purpose of company law, and who served during the year were:

Mr I A Yeoman
Mrs C G Jepson
Mrs M Jones
Recruitment and appointment of trustees

New trustees are appointed by agreement of the existing trustees as and when required or if a suitably interested and experienced individual presents themselves to the trustees. New trustees are given introductory training and induction if required.

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

 

Organisational structure

The charity organisational structure comprises a group of trusted volunteers, who are lead by the trustees.

The report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.

 

On behalf of the board of trustees

Mrs C G Jepson
Trustee
22 April 2024
MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF MUSIC ON THE MARCH (1952) LIMITED
- 3 -

I report to the trustees on my examination of the financial statements of Music on the March (1952) Limited (the charity) for the year ended 31 July 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Russell Whitlock Accountancy Ltd
John Eccles House
Robert Robinson Avenue
Oxford
Oxfordshire
OX4 4GP
United Kingdom
Dated: 24 April 2024
MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income and endowments from:
Donations and legacies
2
34,851
12,191
Charitable activities
3
26,338
7,410
Other trading activities
4
1,766
1,959
Investments
5
678
7
Other income
6
98,641
15,707
Total income
162,274
37,274
Expenditure on:
Raising funds
7
34,289
18,845
Charitable activities
8
21,633
13,538
Other expenditure
12
-
1,243
Total expenditure
55,922
33,626
Net income and movement in funds
106,352
3,648
Reconciliation of funds:
Fund balances at 1 August 2022
119,544
115,896
Fund balances at 31 July 2023
225,896
119,544

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 7 to 16 form part of these financial statements.

MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
All income funds
2023
2022
£
£
Gross income
162,274
37,274
Total expenditure from income funds
55,922
33,626
Net income for the year
106,352
3,648
MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 6 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
14
184,503
137,719
Current assets
Debtors
15
-
11,995
Cash at bank and in hand
93,209
96,446
93,209
108,441
Creditors: amounts falling due within one year
16
7,684
77,080
Net current assets
85,525
31,361
Total assets less current liabilities
270,028
169,080
Creditors: amounts falling due after more than one year
17
(44,132)
(49,536)
Net assets
225,896
119,544
The funds of the charity
Unrestricted funds
225,896
119,544
225,896
119,544

The notes on pages 7 to 16 form part of these financial statements.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 22 April 2024
Mrs C G Jepson
Mrs M Jones
Trustee
Trustee
Company registration number 06262998 (England and Wales)
MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 7 -
1
Accounting policies
Charity information

Music on the March (1952) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 5 Risebridge Road, Romford, Essex, RM2 5PR, United Kingdom. The charity operates from premises at 54 Western Road, Romford, RM1 3LP.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

As reported in prior periods, the Band suffered an arson attack on its premises in September 2021.  There was severe damage to the hall and associated offices and practice rooms and a large number of instruments and uniforms were lost in the fire.  The insurance claim has been completed and the premises refurbishment was completed in November 2022. The lost instrument and uniform assets are now replaced.

 

As a consequence of the fire the Band suffered a considerable loss of revenue due to the inability to practice in the hall, hold concerts or run charitable events. Other facilities were made available on a smaller scale which allowed some activities to continue.

 

During the period ended 31 July 2023 it was possible to restart activities, and due to the longevity, stability and reputation of the organisation, the trustees and directors are confident that the Band will not suffer longer term as a result of the fire.

 

Therefore, at the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 8 -

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of receipt.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

Insurance proceeds as a result of the fire at the premises will be recognised as income to replace fixed assets when the assets are acquired and credited against revenue expenditure when the expenditure is incurred.

1.5
Expenditure

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
12 years straight line
Plant and machinery
5-10% reducing balance basis
Fixtures, fittings & equipment
25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

 

Significant assets were lost in the fire and the process of replacing them is complete. Calculating the loss on disposal was a challenge and has been recognised where this is possible for individual assets such as fixtures and fittings.

 

For other asset categories the exercise of replacing assets has shown that the musical instrument assets had a recorded carrying value lower in total than the residual insurance value of the surviving assets. In the period ended 31 July 2023 with a full inventory and valuation of the assets remaining together with the replacement assets, it was possible to isolate the proportion of older assets that had been destroyed and record their disposal accordingly.

MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 9 -

Improvements to leasehold premises should be depreciated over the shorter of the lease term or the useful economic life of the asset. The current lease expired during the financial year ended 2023. The trustees have a reasonable expectation that the lease will be renewed, and based on the information available would estimate that the renewal would extend the term at least ten years. Therefore to prevent misstatement of the depreciation charge and grant income received in the period, and the net book value of the asset at the balance sheet date, the trustees have applied a term including an anticipated lease renewal of ten years when calculating depreciation of improvements to leasehold premises. Should the lease term eventually differ from this, the financial statements will be adjusted accordingly.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 10 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
29,447
6,787

Grants received

5,404
5,404
34,851
12,191
3
Income from charitable activities
Performances and events
Performances and events
2023
2022
£
£

Performing and events

26,338
7,410
Analysis by fund
Unrestricted funds
26,338
7,410
4
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Membership subscriptions and sponsorships which are in substance a payment for goods and services
1,766
1,959
MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 11 -
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
678
7
6
Other income
Unrestricted
Unrestricted
funds
funds
general
general
2023
2022
£
£

Insurance proceeds

98,641
15,707

The insurance proceeds reported in the Statement of Financial Activities are for replacing fixed assets lost in the fire.

7
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Fundraising and publicity
Staging fundraising events
12,747
5,338
Depreciation and impairment
10,326
6,735
Support costs
11,216
6,772
34,289
18,845
MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 12 -
8
Expenditure on charitable activities
Rehersals, Tuition and band meetings
Rehersals, Tuition and band meetings
2023
2022
£
£
Direct costs
Depreciation and impairment
10,326
6,734

Musical tuition and meetings

1,747
793
12,073
7,527
Share of support and governance costs (see note 9)
Support
9,560
6,011
21,633
13,538
Analysis by fund
Unrestricted funds
21,633
13,538
9
Support costs allocated to activities
2023
2022
£
£
Rent, rates and utilities
5,622
6,578
Insurance
5,527
3,393
Printing and stationery
4,682
2,689
Bank and currency charges
503
57
Trophies and awards
644
66
Premises repairs
3,798
-
20,776
12,783
Analysed between:
Fundraising
11,216
6,772
Rehersals, Tuition and band meetings
9,560
6,011
20,776
12,783
10
Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year. Out of pocket expenses for costs relating to band events and activities reimbursed to trustees amounted to £1,482.

MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 13 -
11
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
12
Other
Total
Unrestricted
funds
£
general
2023
2022
Net loss on disposal of tangible fixed assets
-
1,243
-
1,243
13
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 14 -
14
Tangible fixed assets
Leasehold improvements
Plant and machinery
Fixtures, fittings & equipment
Total
£
£
£
£
Cost
At 1 August 2022
98,113
153,193
1,950
253,256
Additions
-
65,762
9,340
75,102
Disposals
-
(33,463)
-
(33,463)
At 31 July 2023
98,113
185,492
11,290
294,895
Depreciation and impairment
At 1 August 2022
18,819
96,231
488
115,538
Depreciation charged in the year
7,799
10,152
2,701
20,652
Eliminated in respect of disposals
-
(25,798)
-
(25,798)
At 31 July 2023
26,618
80,585
3,189
110,392
Carrying amount
At 31 July 2023
71,495
104,907
8,101
184,503
At 31 July 2022
79,294
56,962
1,463
137,719
15
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
11,995

The other debtors balance of £11,995 at 31 July 2022 represented deposits paid towards replacement assets that were received in the period end 31 July 2023.

16
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Deferred income
18
5,404
5,404
Other creditors
2,280
71,676
7,684
77,080

Other creditors of £2,280 represents monies collected specifically for an event that has been delayed until the following accounting period. Once the event has been held this balance will be released as fundraising and event income.

MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 15 -
17
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Deferred income
18
44,132
49,536
18
Deferred income
2023
2022
£
£
Arising from Capital grant
49,536
54,940

Deferred income is included in the financial statements as follows:

2023
2022
£
£
Deferred income is included within:
Current liabilities
5,404
5,404
Non-current liabilities
44,132
49,536
49,536
54,940
Movements in the year:
Deferred income at 1 August 2022
54,940
60,344
Released from previous periods
(5,404)
(5,404)
Deferred income at 31 July 2023
49,536
54,940

Deferred income represents capital grants for improvements to leasehold premises. The deferred income is being released in line with the depreciation of the improvements to leasehold premises.

19
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 August 2022
Incoming resources
Resources expended
At 31 July 2023
£
£
£
£
General funds
119,544
162,274
(55,922)
225,896
MUSIC ON THE MARCH (1952) LIMITED
THE ROYAL BRITISH LEGION BAND AND CORPS OF DRUMS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
19
Unrestricted funds
(Continued)
- 16 -
Previous year:
At 1 August 2021
Incoming resources
Resources expended
At 31 July 2022
£
£
£
£
General funds
115,896
37,274
(33,626)
119,544
20
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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