Charity registration number 1164714 (England and Wales)
Company registration number 09788401
SOUTH WALES GAY MEN'S CHORUS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
SOUTH WALES GAY MEN'S CHORUS
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
G R Hawkins
H Cook
(Appointed 22 February 2024)
L Fletcher
(Appointed 22 February 2024)
D Thompson
(Appointed 22 February 2024)
J S Evans
(Appointed 20 February 2025)
M A Keeble
(Appointed 20 February 2025)
S Rees
(Appointed 20 February 2025)
K Zgorzelski
(Appointed 22 February 2024)
Charity number
1164714
Company number
09788401
Registered office
43 St Josephs Mews
Penarth
Wales
CF64 1NP
Accountants
Dorrell Oliver Ltd
Linden House
Monk Street
Abergavenny
Monmouthshire
NP7 5NF
Bankers
Barclays Bank plc
Queen Street
Cardiff
LE87 2BB
SOUTH WALES GAY MEN'S CHORUS
CONTENTS
Page
Trustees' report
Accountants' report
1
Statement of financial activities
2
Balance sheet
3
Notes to the financial statements
4 - 8
SOUTH WALES GAY MEN'S CHORUS
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOUTH WALES GAY MEN'S CHORUS FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of South Wales Gay Men's Chorus for the year ended 31 December 2024, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 28 May 2020. Our work has been undertaken solely to prepare for your approval the financial statements of South Wales Gay Men's Chorus and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than South Wales Gay Men's Chorus and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that South Wales Gay Men's Chorus has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of South Wales Gay Men's Chorus. You consider that South Wales Gay Men's Chorus is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of South Wales Gay Men's Chorus. 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 financial statements.

Dorrell Oliver Ltd
Chartered Accountants
Linden House
Monk Street
Abergavenny
Monmouthshire
NP7 5NF
31 May 2025
SOUTH WALES GAY MEN'S CHORUS
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
2
11,857
1,015
12,872
11,890
249
12,139
Charitable activities
3
6,872
-
6,872
5,265
-
5,265
Total income
18,729
1,015
19,744
17,155
249
17,404
Expenditure on:

Raising funds

4
5,714
-
5,714
3,018
-
3,018
Charitable activities
5
15,860
1,015
16,875
8,468
7,280
15,748
Total resources expended
21,574
1,015
22,589
11,486
7,280
18,766
Net expenditure for the year/
Net movement in funds
(2,845)
-
(2,845)
5,669
(7,031)
(1,362)
Fund balances at 1 January 2024
15,971
-
15,971
10,302
7,031
17,333
Fund balances at 31 December 2024
13,126
-
13,126
15,971
-
15,971

The statement of financial activities includes all gains and losses recognised in the year.

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

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
SOUTH WALES GAY MEN'S CHORUS
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
10
1,515
912
Cash at bank and in hand
11,611
15,059
13,126
15,971
Net current assets
13,126
15,971
The funds of the SWGMC
Unrestricted funds
12
13,126
15,971
13,126
15,971

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 December 2024.

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 31 May 2025
G R Hawkins
Trustee
Company registration number 09788401 (England and Wales)
SOUTH WALES GAY MEN'S CHORUS
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Charity information

South Wales Gay Men's Chorus is a private company limited by guarantee incorporated in England and Wales. The registered office is 43 St Josephs Mews, Penarth, CF64 1NP, Wales.

1.1
Accounting convention

The financial statements have been prepared in accordance with the SWGMC's Memorandum and Articles of Association, 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 SWGMC is a Public Benefit Entity as defined by FRS 102.

 

The SWGMC 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 SWGMC. 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

At the time of approving the financial statements, the trustees have a reasonable expectation that the SWGMC 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.

1.4
Income
Income is recognised when the SWGMC 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.

Cash donations are recognised on receipt. Other donations are recognised once the SWGMC 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 is recognised when it is received.

1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

SOUTH WALES GAY MEN'S CHORUS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

1.7
Financial instruments

The SWGMC 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 SWGMC's balance sheet when the SWGMC becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, cash and bank balances, are measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

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 at transaction price.

Derecognition of financial liabilities

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

2
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
1,079
1,015
2,094
1,789
249
2,038

Gift aid recovered

2,038
-
2,038
1,689
-
1,689
Membership fees
8,740
-
8,740
8,412
-
8,412
11,857
1,015
12,872
11,890
249
12,139
SOUTH WALES GAY MEN'S CHORUS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Concert and performance income
Ticket sales etc
6,872
5,265
4
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising and publicity
Costs relating to concerts
5,714
3,018
5
Charitable activities

 

 

2024
2023
£
£

Hire of rehearsal space

1,820
1,676

Accompanists and conductors

10,506
6,525

Music costs including copyright

622
1,176

Uniform costs

25
2,293

Recording, Mixing and Video production

580
580

Various Voices Bologna

-
1,830
Hand in Hand Bristol
657
-
14,210
14,080
Donations to Charity
1,015
249
Share of support costs (see note 6)
1,650
1,419
16,875
15,748
Analysis by fund
Unrestricted funds
15,860
8,468
Restricted funds
1,015
7,280
16,875
15,748
SOUTH WALES GAY MEN'S CHORUS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
6
Support costs allocated to activities
2024
2023
£
£
Publicity
488
310
Insurance
374
151
Sundries
788
958
1,650
1,419
Analysed between:
Charitable activities
1,650
1,419
7
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the SWGMC during the year.
8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

9
Taxation

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

10
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
1,515
912
SOUTH WALES GAY MEN'S CHORUS
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
11
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January 2024
Incoming resources
Resources expended
At 31 December 2024
£
£
£
£
The Choir with no name
-
1,015
(1,015)
-
Previous year:
At 1 January 2023
Incoming resources
Resources expended
At 31 December 2023
£
£
£
£
TNL Community Fund Covid recovery
4,431
-
(4,431)
-
Localgiving re recording costs
500
-
(500)
-
Viridor Community Grant re Uniform
2,100
-
(2,100)
-
Trans Aid Cymru
-
108
(108)
-
The Choir with no name
-
141
(141)
-
7,031
249
(7,280)
-
12
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 January 2024
Incoming resources
Resources expended
At 31 December 2024
£
£
£
£
General funds
15,971
18,729
(21,574)
13,126
Previous year:
At 1 January 2023
Incoming resources
Resources expended
At 31 December 2023
£
£
£
£
General funds
10,302
17,155
(11,486)
15,971
13
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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