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FOR THEYEARENDED31/08/2024 |
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TRUSTEES' REPORT |
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The trustees present their report and accounts for theyearended31/08/2024 |
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PRINCIPAL ACTIVITIES |
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The principal activity of the charity in theyearunder review wasCommunity music making. |
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STRUCTURE GOVERNANCE AND MANAGEMENT |
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Governing document
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Constitution and governing legislation
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The charity is established as a limited company, without share capital, under the Companies Act 2006. Its operation is governed by its Memorandum and Articles of Association of 30 June 1994. The company number is 2944161. The company is a registered charity (no. 1062049).
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Specific restrictions on the company
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(i) Clause 4 of the Memorandum of Association of the company stipulates that the income and property of the company shall be applied solely towards the promotion of its objects and no portion is to be paid by way of dividend, bonus or otherwise to the members of the company. Additionally no trustee appointed to any office of the company is to be paid a salary, or receive any remuneration or other benefit from the company.
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(ii) Clause 3.12 of the Memorandum of Association prohibits the company from combining with other entities unless their objects are the same or similar and their constitutions contain similar restrictions to that of the company concerning the distribution of profits.
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(iii) Clause 7 of the Memorandum of Association states that upon the winding up or dissolution of the company any assets remaining, after the satisfaction of all liabilities, shall not be paid to or distributed among the members of the company, but shall be transferred to other charitable bodies having similar objects and which similarly prohibit the distribution of income or property among its members. Full details of all the restrictions imposed on the company and the framework within which the company operates are contained in the Memorandum of Association.
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(j) Investment powers
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The company is permitted by its Memorandum of Association to invest any funds not immediately required for its purposes in any investments, securities or property as may be thought fit subject to such conditions as may for the time being be imposed or required by law
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FOR THEYEARENDED31/08/2024 |
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TRUSTEES' REPORT |
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Recruitment and appointment of trustees
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Appointment of trustees
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The appointment of trustees is governed by provisions contained within the company's Articles of Association. These are as follows:
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(i) At each annual general meeting one third of the members of the Board of Trustees must retire and, if desired, stand for re - election. The trustees to retire are those longest in office since their last election.
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(ii) The company, at the annual general meeting, may fill the positions vacated by the retiring trustees by electing any persons thereto, or by re - electing the retiring members.
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(iii) The Board of Trustees has the power to appoint any person to be a trustee either to fill a casual vacancy or in order to increase the number of trustees. Any trustee appointed in this way must retire at the following annual general meeting and stand for re - election, if desired, at that meeting.
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(iv) Any member of the company, qualified to attend and vote at the annual general meeting, is entitled to propose the appointment of a person to act as a trustee.
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Trustees' responsibilities
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The trustees are required to prepare accounts for each financial year which give a true and fair view of the state of affairs of the company as at the end of the financial year and of the surplus or deficit of the company for that year. In preparing those accounts the trustees are required to:
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a) select suitable accounting policies and then apply them consistently,
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b) make judgements and estimates that are reasonable and prudent;
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c) follow applicable accounting standards, subject to any material departures disclosed and explained in the accounts; and
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d) prepare the financial statements on the going concern basis unless it is inappropriate to presume that this basis applies. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with all relevant legislation. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE UNAUDITED ACCOUNTS |
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OFLANCASTER COMMUNITY MUSIC TRUST, FOR THEYEARENDED31/08/2024 |
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In order to assist you to fulfill your duties under the Companies Act 2006, we have prepared for your approval the accounts ofLancaster Community Music Trustfor theyearended31/08/2024as set out on pages 7 to 13 from the company's accounting records and from information and explanations you have given us. |
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As a practising member of theACCA, we are subject to its ethical and other professional requirements which are detailed on their website. |
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This report is made solely to the Board of Directors ofLancaster Community Music Trust, as a body, in accordance with the terms of our engagement letter dated22/06/2021. Our work has been undertaken solely to prepare for your approval the accounts ofLancaster Community Music Trustand state those matters that we have agreed to state to the Board of Directors ofLancaster Community Music Trust, as a body, in this report, in accordance with the requirements of theACCAas detailed on their website. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other thanLancaster Community Music Trustand its Board of Directors as a body for our work or for this report. |
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It is your duty to ensure thatLancaster Community Music Trusthas kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profitability ofLancaster Community Music Trust. You consider thatLancaster Community Music Trustis exempt from the statutory audit requirement for theyear. |
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We have not been instructed to carry out an audit or a review of the accounts ofLancaster Community Music Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. |
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Fiona Wills Accountancy Services Limited |
Warton Suite |
Clawthorpe Hall Business Centre |
Burton in Kendal |
Carnforth Lancs |
LA6 1NU |
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27/11/2024 |
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Statement of Financial Activities | |
for the year ended31/08/2024 | |
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| | | | | | | | 2024 | | 2023 |
| | | | Unrestricted funds | | Restricted funds | | Total | | Total |
| | | | £ | | £ | | £ | | £ |
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Income | | | | | | | | | | |
Income from generated funds | | | | | | | | | | |
Donations and legacies | | | | - | | - | | 1,438 | | 1,897 |
Income from Investments | | | | - | | - | | 127 | | 62 |
Income from charitable activities | | | | - | | - | | 19,235 | | 15,064 |
Total Income and endowments | | | | - | | - | | 20,800 | | 17,023 |
Expenses | | | | | | | | | | |
Costs of generating funds | | | | | | | | | | |
Expenditure on Raised funds | | | | - | | - | | 9,356 | | 8,944 |
Expenditure on Charitable activities | | | | - | | - | | 9,473 | | 9,317 |
Total Expenses | | | | - | | - | | 18,829 | | 18,261 |
Net gains on investments | | | | | | | | | | |
Net Income | | | | - | | - | | 1,971 | | (1,238) |
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Gains/(losses) on revaluation of fixed assests | | | | | | | | | | |
Net movement in funds: | | | | | | | | | | |
Net income for the year | | | | - | | - | | 1,971 | | (1,238) |
Total funds brought forward | | | | - | | - | | (6,420) | | (5,182) |
Net funds carried forward | | | | - | | - | | (4,449) | | (6,420) |
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This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities | |
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BALANCE SHEET AT 31/08/2024 |
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| | Notes | | | | £ | | | | £ |
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FIXED ASSETS | | | | | | | | | | |
Tangible assets | | 3 | | | | 8 | | | | 13 |
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CURRENT ASSETS | | | | | | | | | | |
Stock | | | | 50 | | | | 50 | | |
Cash at bank and in hand | | | | 9,929 | | | | 8,294 | | |
| | | | 9,979 | | | | 8,344 | | |
CREDITORS: Amounts falling due within one year | | 5 | | 530 | | | | 871 | | |
NET CURRENT ASSETS | | | | | | 9,449 | | | | 7,473 |
TOTAL ASSETS LESS CURRENT LIABILITIES | | | | | | 9,457 | | | | 7,486 |
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CAPITAL AND RESERVES | | | | | | | | | | |
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Unrestricted funds | | 7 | | | | | | | | |
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Difference on accounts | | | | | | 9,457 | | | | 7,486 |
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For the year ending 31/08/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. |
The directors 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. |
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Approved by the board of trustees on 27/11/2024 and signed on their behalf by | | | | | | | | | | |
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Mr T Forsdick | | | | | | | | | | |
Trustee | | | | | | | | | | |
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