REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Dynamica Drum Corps Limited |
commonly known as Dynamica Brass Academy |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Dynamica Drum Corps Limited |
commonly known as Dynamica Brass Academy |
Dynamica Drum Corps Limited |
commonly known as Dynamica Brass Academy |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 | to | 9 |
Dynamica Drum Corps Limited (Registered number: SC298578) |
commonly known as Dynamica Brass Academy |
Report of the Trustees |
for the Year Ended 31 March 2024 |
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 March 2024. 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 main objective is to provide a high quality learning environment where young people can learn musicality in a fun way but to the highest possible standards. The provision of musical tuition (theory, musicianship and techniques) in a social environment which encourages young people from different backgrounds to mix with peers and share learning. |
The main activity is the provision of weekly tuition, coaching and mentoring with a range of support activities around this providing educational and performance opportunities as individuals and as a group. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
During this financial year we have : |
Delivered a high level of tuition and continual progress amongst current youngsters in our senior band. |
Established a junior band of new beginners who have started learning the basics of musicianship and playing as a group. |
Delivered high quality concerts during June and December. |
Delivered a number of social and musicianship activities to assist in achieving our aim "making music fun". |
FINANCIAL REVIEW |
Principal funding sources |
Our main source of funding comes from contributions and donations from members, augmented by regular fundraising efforts and occasional incomes. These funds are largely used to pay for the cost of hiring halls and other associated costs of teaching. No trustee has received any remuneration during this financial year. |
The need to bring in additional teaching resources is drawing down a significantly larger portion of our available income than we would like however we have taken steps to address this by establishing and developing a junior band and progressing members through into our senior band when they reach a suitable standard. |
We have continued to pay for all insurances and compulsory payments throughout the year. |
Reserves policy |
The Treasurer's policy is to aim to have enough reserves for the session ahead at all times. We have been reducing reserves as a number of older members left however we have now increased membership by starting a junior band to rectify this. |
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. |
Charity constitution |
The organisation is a company limited by guarantee and is registered with Companies House and OSCR. |
Recruitment and appointment of new trustees |
The trustees are appointed by the members at the Annual General Meeting. Full meetings with all members present are held to discuss key issues of strategic importance with the full staff team operating as the main delegated decision making body in relation to operational matters. |
Dynamica Drum Corps Limited (Registered number: SC298578) |
commonly known as Dynamica Brass Academy |
Report of the Trustees |
for the Year Ended 31 March 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Oak Accountancy Solutions Ltd |
12 Pankhurst |
East Kilbride |
Glasgow |
G74 4BH |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Dynamica Drum Corps Limited |
I report on the accounts for the year ended 31 March 2024 set out on pages four to nine. |
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 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 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 Charities Accounts (Scotland) Regulations 2006. 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 you as 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. |
Faye Clark |
The Association of Chartered Certified Accountants |
Oak Accountancy Solutions Ltd |
12 Pankhurst |
East Kilbride |
Glasgow |
G74 4BH |
23 December 2024 |
Dynamica Drum Corps Limited |
commonly known as Dynamica Brass Academy |
Statement of Financial Activities |
for the Year Ended 31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Total |
EXPENDITURE ON |
Raising funds |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 3,186 |
Dynamica Drum Corps Limited (Registered number: SC298578) |
commonly known as Dynamica Brass Academy |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 7 |
Unrestricted funds | 3,186 |
TOTAL FUNDS | 3,186 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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. |
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 |
Dynamica Drum Corps Limited |
commonly known as Dynamica Brass Academy |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - |
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. |
2. | OTHER TRADING ACTIVITIES |
31.3.24 | 31.3.23 |
£ | £ |
Shop income |
Residential | 345 | - |
Concert income | 1,362 | - |
Instrumental rental | 200 | - |
Dynamica Drum Corps Limited |
commonly known as Dynamica Brass Academy |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
4. | AVERAGE NUMBER OF EMPLOYEES |
The average monthly number of employees during the year was as follows: |
31.3.24 | 31.3.23 |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Raising funds |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 3,186 |
Dynamica Drum Corps Limited |
commonly known as Dynamica Brass Academy |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 April 2023 and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
7. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 3,186 | 379 | 3,565 |
TOTAL FUNDS | 379 | 3,565 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 13,122 | (12,743 | ) | 379 |
TOTAL FUNDS | ( |
) | 379 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 6,906 | (3,720 | ) | 3,186 |
TOTAL FUNDS | 6,906 | (3,720 | ) | 3,186 |
Dynamica Drum Corps Limited |
commonly known as Dynamica Brass Academy |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 7,135 | (10,855 | ) | (3,720 | ) |
TOTAL FUNDS | 7,135 | (10,855 | ) | (3,720 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 6,906 | (3,341 | ) | 3,565 |
TOTAL FUNDS | 6,906 | (3,341 | ) | 3,565 |
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 | 20,257 | (23,598 | ) | (3,341 | ) |
TOTAL FUNDS | 20,257 | (23,598 | ) | (3,341 | ) |
8. | RELATED PARTY DISCLOSURES |