For the year ended 31 July 2023
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 July 2023
Mick Ronson Foundation
Contents Page
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Report of the Trustees
3
Independent Examiner's Report to the Trustees
4
Statement of Financial Activities
5
Statement of Financial Position
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Notes to the Financial Statements
For the year ended 31 July 2023
Mick Ronson Foundation
Report of the Trustees
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the |
financial statements for the charitable company for the year ended 31 July 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 the Republic of Ireland (FRS 102) |
(effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Mick Ronson Foundation aims to benefit and promote the education of young people within music. An annual award will be given to between 2 and 4 people, to support further education studies, purchase musical instruments, fund recording and performance projects, making video content and / or giving financial assistance for courses. |
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. |
ACHIEVEMENTS AND PERFORMANCE
Significant activities
In July 2022, The Mick Ronson Foundation began working with The Warren Youth Project, a wonderful charity in Hull provides vital support to young people in Hull. During the year we gave a £4,000 grant to Warren Records, housed within the Warren Youth Project, to help support young people who are interested in learning more about music. The restricted grant fund is to be used to provide singing lessions, guitar lessons, access to the Mick Ronson Rehearsal Room, and the ability to record, master, and release albums. |
Expenses are limited, and we anticipate being able to continue with our current level or reserves for another 4-6 years.
REFERENCE AND ADMINISTRATIVE INFORMATION |
Mick Ronson Foundation
Charity registration number |
1182279
10293295
Company registration number |
The trustees and officers serving during the year and since the year end were as follows:
Miss Lisa Ronson
Mr Christopher John Bird
Mr Stephen Nice
Andrew M Wells FMAAT
Counterculture Partnership LLP
Unit 115 Ducie House
Ducie Street
Manchester
M1 2JW
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For the year ended 31 July 2023
Mick Ronson Foundation
Report of the Trustees Continued
............................................................................. |
Approved by the Board of Trustees and signed on its behalf by |
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For the year ended 31 July 2023
Mick Ronson Foundation
Independent Examiners Report to the Trustees
I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 July 2023. |
Responsibilities and basis of report |
As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company 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 your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. |
Independent examiners 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 Company as required by section 386 of the 2006 Act; or |
2. the accounts do not accord with those records; or |
3. the accounts do not comply with the 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 accounts 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 accounts to be reached. |
Andrew M Wells FMAAT
Counterculture Partnership LLP
Unit 115 Ducie House
Ducie Street
Manchester
M1 2JW
09 April 2024
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For the year ended 31 July 2023
Mick Ronson Foundation
Statement of Financial Activities (including Income and Expenditure Account)
2022
(4,139)
(4,342)
2/3
(4,139)
(4,342)
(4,139)
(4,342)
Total funds brought forward |
17,245
12,903
Total funds carried forward |
8,764
12,903
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Mick Ronson Foundation
Statement of Financial Position
2023
2022
8,764
12,903
8,764
12,903
Net current assets
8,764
12,903
Total assets less current liabilities |
8,764
12,903
Net assets
8,764
12,903
Unrestricted income funds |
7
8,764
12,903
8,764
12,903
For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, |
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by: |
09 April 2024
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For the year ended 31 July 2023
Mick Ronson Foundation
Notes to the Financial Statements
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Companies Act 2006. Mick Ronson Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). |
The financial statements are prepared, on a going concern basis, under the historical cost convention. |
The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes. Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them. There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above. |
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. |
Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure. |
As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company, and is therefore included in the relevant costs in the Statement of Financial Activities. |
Irrecoverable VAT is included in the Statement of Financial Activities, and is reported as part of the expenditure to which it |
relates. |
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For the year ended 31 July 2023
Mick Ronson Foundation
Notes to the Financial Statements Continued
2. Costs of charitable activities by fund type |
2022
2023
4,000
4,000
Promotion of education
342
139
Support costs
4,342
4,139
3. Costs of charitable activities by activity type |
2022
2023
Activities |
undertaken |
directly |
Promotion of education
4,139
139
4,000
Promotion of education
4,342
4,139
139
4,000
4,342
4. Analysis of support costs |
2022
2023
35
225
Bank charges
104
117
342
139
5. Staff costs and emoluments |
2023
2022
0
Employees
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For the year ended 31 July 2023
Mick Ronson Foundation
Notes to the Financial Statements Continued
6. Comparative for the Statement of Financial Activities |
The comparative year values on the Statement of Financial Activites are for unrestricted funds. |
General
12,903
(4,139)
8,764
General
12,903
(4,139)
8,764
Unrestricted Funds - Previous year |
General
17,245
(4,342)
12,903
General
17,245
(4,342)
12,903
Purpose of unrestricted Funds |
General
To promote education for young people
8. Analysis of net assets between funds |
Net current |
assets / |
(liabilities) |
Net Assets
Unrestricted funds
General
8,764
8,764
General
8,764
8,764
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For the year ended 31 July 2023
Mick Ronson Foundation
Notes to the Financial Statements Continued
Net current |
assets / |
(liabilities) |
Net Assets
Unrestricted funds
General
12,903
12,903
General
12,903
12,903
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