Annual report 2010

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Our online annual report and financial statements is available in two formats: (a) this html version which contains exactly the same words and numbers as (b) the PDF print version. This html version has some additional functionality in terms of hyperlinks, interactive charts and help tipsinfo symbol. You need javascript enabled in your browser to take advantage of these features, hover the mouse cursor over the i symbol.

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Please note the independent examiners report that is reproduced in the html version relates to the review of the PDF print version of the accounts. The examiner has not performed a separate review of the html accounts.

The committee present their report for the year ended 28 February 2010.

The members of the committee during the year were:

Office bearers

  resigned 25 May 2009: appointed 25 May 2009:
President Graeme Henderson Graeme Henderson
Vice President Karen Gill Karen Gill
Secretary Karen Gill Karen Gill
Assistant Secretary vacant position vacant position
Treasurer Ross Fowler Ross Fowler
Conductor Graham Reid Graham Reid
Deputy conductor Gordon Pirie Gordon Pirie
Assistant conductor Sheila Reid Sheila Reid
Pianist Neil MacNeil Neil MacNeil
Leader Kim Beveridge Kim Beveridge

Other committee members

No change: resigned 25 May 2009: appointed 25 May 2009:
David Jones Donald Alexander K Falconer
Laura McCracken Emma MacPherson Emma MacPherson
Brian Priestley Karen Steed Karen Steed

The committee is responsible for managing the affairs of the Society and is elected from the Society’s Life/Ordinary members at the Annual General Meeting. The office bearers are elected annually. The six other committee members are elected to serve for a period of two years, with three elected annually. The committee has the power to fill office bearer vacancies arising during the year.

The induction process for committee members includes providing them with a copy of the latest full annual report and financial statements, the Constitution & Rules, and “Guidance for Charity Trustees” published by the Office of the Scottish Charity Regulator (OSCR).

The committee have regular formal meetings throughout the year and may also have ad-hoc meetings on rehearsal evenings as required.

The Society is an unincorporated association, governed by its Constitution & Rules, and is recognised as a charity by OSCR (Scottish Charity number SC011924) in accordance with the provisions of The Charities and Trustee Investment (Scotland) Act 2005.

Correspondence should be addressed to 129 Jesmond Avenue, Aberdeen, AB22 8UE or email secretary@aberdeenstrathspey.org.uk.

Objectives, policies and organisation

The objectives of the Society are established in its Constitution & Rules which were last amended on 25 May 2009. The Society is established:

  1. to form and maintain orchestras for promoting the practice and performance of primarily Scottish Music in order that:
    1. the community’s interest in such music shall be encouraged and advanced by way of private and public concerts given by the Society or under its auspices; and
    2. the playing of traditional music shall likewise be preserved and encouraged.
  2. to further any charitable purpose or purposes as the Committee in their absolute discretion shall think fit but in particular through the making of grants and donations.

How we achieve our objectives

Three orchestras are currently maintained - one for all playing members and two for junior members of different age groups. All rehearse on a weekly basis during school terms and perform primarily in and around Aberdeen, in addition orchestra trips either nationally or internationally may be undertaken where resources and opportunities permit. The concert session runs from the first Monday in September through to the end of May.

The Society performs at numerous public and private concerts varying greatly in size during the concert session. The majority of these are a result of long established relationships with various groups including local churches, nursing homes, charities and other organisations. Concerts may be either for entertaining and/or fundraising purposes.

In addition the committee works with both Aberdeen City Council and Aberdeen Performing Arts, which runs three of the major arts venues in Aberdeen, to identify opportunities for performances. The committee also organises and promotes the Society's own concerts. An annual competition is held for members to promote and encourage the playing of Scottish music. The Awards Ceremony is held immediately before the AGM.

An annual trophy for the best junior all round achievement over the year, determined by the juniors’ conductor is also awarded. This was awarded to A Dreelan on 25 May 2009.

Category Awarded on 25 May 2009 to
Violin:
12 years and under - Jean Kidd Trophy
13 - 16 years - AS&RS Shield
Senior, Slow Air - AAF Trophy
Senior, March Strathspey & Reel - Les Wheeler Trophy

J Campbell
L Moore
L McCracken
L McCracken
Accordion: Open age - Kenny Young Quaich N MacNeil
Violin, accordion or piano: Under 23 - Iain Fraser Award & Trophy J Campbell
Ensemble: Open age - Dave Beaton Trophy J Marshall, C Marshall, K Rose
Original composition: Open age - Caithness Bowl E Donald

Applications for new membership are actively encouraged. Sixteen new member applications were approved during the financial year, though due to approval dates several applicants have still to pay their subscriptions. The member categories and number of subscriptions received is noted below.

Category (those with a * have no voting rights) Annual Subscription Number of subscriptions
Honorary members* £nil n/a 
Life members (who have been members for at least 25 years)  £nil 7
Ordinary members (discounted by 50% if in receipt of a state pension) £20 49
Junior members (members under the age of 16 at the start of a session)* £10 12
Non playing members* £10 nil

The committee considers that organising a variety of social events throughout the year is integral to the maintenance of the orchestras. They include events that are open to any supporters of the Society and are intended to foster good relationships among orchestra members, their families and friends.

Where surplus funds exist the committee invites members to propose charitable causes that the Society may support by making grants or donations, such proposals are tabled at the AGM for approval by the membership as a whole.

Ensuring access to our activities

The committee ensures its activities are generally accessible through the following:

  • receiving only small donations towards our running costs from non-commercial and fundraising concerts;
  • ticket prices for concerts that the Society organises and promotes itself are normally set to ensure that the event will break-even, discounted concession tickets are usually available and prices are comparable to other similar arts events in the area;
  • membership subscriptions are approved by the playing membership as a whole at the AGM, with reference to our fixed rehearsal costs and available resources, including other funding sources from donations and commercial concert income. Discounted membership rates are available to those members under 16 or in receipt of a state pension. Based on benchmarking with other music groups that are  members of Making Music and the OSCR 2009 publication “Assessing the ability to pay for the fees charged by charities, Part 2: Implementation” the committee is confident that subscriptions are at a low level and do not restrict access to membership;
  • by being as flexible as possible in accommodating a wide range of playing abilities within the orchestras whilst maintaining appropriate standards of public performance;
  • membership of the Society is open to both playing and non-playing members;
  • working with Aberdeen City Council to identify opportunities for free public performances by the orchestras, such as Aberdeen Tartan Day;
  • income from commercial events where the Society is not the promoter and does not control ticket prices helps balance our costs. 

Review of developments, activities and achievements

Concerts

Once more the Society's orchestras have had a full programme of over 25 concerts throughout the year varying in both their size and venue. These would not have been possible without the continued support and contributions of the members. The highlights include:

  • A full house for the Society's annual concert at the Lemon Tree in April 2009. This was the first time we had performed at the venue. The concert was well received and the event cleared a small surplus when including the raffle and CD sales. It remains difficult to find a suitable smaller performance venue in Aberdeen which has an appropriately sized stage and back of house facilities for the full orchestra, with sufficient audience facilities and capacity to achieve break-even. We believe that for this size of venue the Lemon Tree offers the best facilities for both the orchestra and audience. In fact, we are due to return for our next annual concert in April 2010.
  • Members of the orchestra performing at the Shetland Fiddle & Accordion Festival October 2009

    20 orchestra members of the Society travelled to Shetland in October 2009 to participate in the 22nd annual Shetland Accordion and Fiddle Festival. The festival is one of the largest of its kind in Scotland and features some of the best local and international fiddle and accordion performers. The trip provided an opportunity to broaden the members' experience of traditional Scottish music, swap tunes, meet some old friends and make new ones as well;

  • In August 2009 we were once again invited to appear as part of Aberdeen's Tartan Day Festival and performed an open air concert in Aberdeen town centre;
  • Also in August 2009 a small group of players entertained the Countess of Wessex during a Royal visit to Aberdeen Royal Infirmary;
  • The Society, along with guests from other societies, undertook their annual Fiddlers Rally at Aberdeen Music Hall in November 2009. Guests were singer Alistair MacDonald and Shetland Fiddler Bryan Gear. Audience numbers were disappointing for a second year. The Society will continue to work closely with the event promoter, Aberdeen Performing Arts, to ensure improved audience numbers at future events;
  • November 2009 also saw a large group performing at Laurencekirk & District Rotary Club's winter concert at Mearns Academy along with folk group Shinsheen and Burns Quoir;
  • As part of Aberdeen City's Winter Festival which ran from late November 2009, small groups from the Society entertained shoppers over three weekends at all the main shopping centres in Aberdeen.

Throughout the year a number of small evening concerts were undertaken at sheltered housing complexes and churches and were well attended by members. The Afternoon Group continued to entertain at hospitals, nursing homes and churches, lead this session by Dave Beaton and Sandy Lumsden.

Other events

Constitution changes

Secretary Karen Gill presents a £1,000 cheque to The Archie Foundation Fundraising ManagerSecretary Karen Gill presents a £1,000 cheque to The Archie Foundation Fundraising Manager

As part of the Office of the Scottish Charity Regulator's “Rolling Review” guidance in relation to charity objectives the committee had previously identified that the Society's constitution was not sufficient to continue making donations to other charities where surplus funds exist.

A consultation exercise had been undertaken in February 2009 with the membership regarding expanding the Society's objectives to include provisions to permit supporting other charitable purposes. Following the results of the consultation the committee proposed a revision to the constitution's objectives for approval at the AGM in May 2009. These were adopted unanimously by the members.

It was also agreed at the AGM that the first donation under the new constitution clause would be £1,000 for The Archie Foundation – the charity which supports the Aberdeen Royal Childrens' Hospital.

Rehearsal premises

The Society currently rents rehearsal premises in Cornhill Primary School and Community Centre. In January 2010 Aberdeen City Council invited the Society to participate in a consultation exercise regarding the arrangements for all external lets.

The primary intention is to merge the two separate systems operating for sport and education facility lets. However, there are other implications with regard to the number of facilities to be made available for lets, payment timing, the hourly rates charged and discounts applied, priority in bookings allocation and quality assurance standards with regard to how the organisations are run - including insurance requirements. The council's intention is that the new system will be in operation for lets commencing in August 2010.

The full consequences of the proposals are still unclear at this time, with the application process for the Society's next let starting in August 2010 still to commence. However, it is likely that there will be a circa 25% rise in the rehearsal premises costs. 

The committee recognise the financial pressures that the council faces and the potential benefits from a combined system for service delivery. However, the last reorganisation that the council made with lets in August 2008 resulted in significant difficulty finding a suitable new venue and we are concerned about the impact it may have for the next concert session, especially if there are fewer venues available for all groups that currently have lets. The committee will explore alternative options for rehearsal premises as a contingency.

As a result of the above the committee has revised the minimum reserves target to match the expected higher rent costs, please refer to the finance section for more information.

Other items

The committee were saddened by the news that one of its patrons - June, Marchioness of Aberdeen and Temair, CBE - passed away in June 2009, aged 95.

We continue to be an Associate Plus member of Making Music (the National Federation of Music Societies, registered charity in England & Wales no 249219 & Scotland No SC038849).

On the social front the Christmas Party evening returned to the Cloverleaf Hotel for an enjoyable night and the committee was pleased at the increase in numbers attending.

Our website was refreshed during the year, with a change in the underlying content management system to open-source software. The new software offers the opportunity to develop member-only content plus extra features for the public website including an events calendar for concerts and improved search facilities. It has also allowed us to publish an online version of our Annual report and financial statements for 2009 with additional interactive features, this 2010 report will be added to the website later in the year.

Following the success of the previous introductory Taster Session for new members another session was organised in August 2009. The format was broadly the same, but held the week before the commencement of the concert session at our normal rehearsal venue. The committee were pleased that a number of new members were recruited as a result. A second session was advertised in January 2010 but due to the severe winter weather at the time no new members came along.

Our thanks go to all members, old and new, who have played at the many concerts held during the period and helped in various ways to keep the Society running so smoothly. 

Future plans

Entry for our next concert in the Lemon Tree What's on Guide

Looking forward the orchestras are busy preparing for the Society's annual concert a “Scottish Music Evening” which is being held at The Lemon Tree on 25 April 2010.

The committee is investigating the level of member support for a return trip to the Shetland Accordion and Fiddle Festival in October 2010.

The Fiddlers' Rally at Aberdeen Music Hall has been confirmed for Saturday 13 November 2010. It is planned that the Rally will include a reunion performance of as many past members of the junior orchestras as possible.

We are also in early discussions with Aberdeen Performing Arts about organising the next Fiddlers' Spectacular at Aberdeen HMT in May 2011. 

Finances, investment and reserves policy

Finances

The attached financial statements show the current state of the finances of the Society. As a result of a previous change in the accounting year end the prior period comparative figures are for 11 months as opposed to 12 months for the year just ended.

Summary of income and expenditure info symbol

 
 
 
 
 
Summary of major changes in income less expenditure: £
Net surplus for 11 months to 28 February 2009 2,215
Lower surplus from concerts and competitions (primarily HMT Fiddlers' Spectacular in prior period) (2,338)
New donation expenditure to The Archie Foundation following constitution change (1,000)
Lower donations income (prior period included a number of one-off donations) (1,153)
Lower deficit on Designated Funds for Trips and tours
(Shetland trip this year compared to Stavanger trip in previous period)
+922
Other changes to income and expenditure (net improvement) +210
Net deficit for 12 months to 28 February 2010 (1,144)

Concert income and expenditure for the period has decreased mainly as a consequence of the prior period including the Society's share of the four Fiddlers' Spectacular shows at HMT Aberdeen in April 2008. There was no equivalent event during the current financial year, but this is partially offset by income and costs from the Scottish Music Evening in April 2009 and other concert activity. 

Donations income has decreased primarily as the previous period included various one-off donations, as well as including the estimated value of donations of musical instruments and other goods or services received. Non-commercial concert donations were broadly similar to the prior period even though the current accounting period was one month longer.

There was no Grant Income in the current year as the Society made no applications for funding, the Grant income for the prior period included funding from Aberdeen City Council for the orchestra trip to Stavanger in June 2008. 

Subscription income has increased slightly due to an increase in the number of members.

Fundraising income has increased slightly. A raffle was undertaken at the Scottish Music Evening concert and CD sales have been higher this year – partly in response to multi-buy discounts offered at the Music Hall Rally and internet orders in November and December 2009. The amount raised via Easyfundraising has been lower this period reflecting members' shopping activity.

Fundraising expenditure had decreased overall, primarily this relates to a lower level of reduction in the value of the stock of CDs and Tapes as it ages compared to reductions charged in the previous period.

Interest income is lower as a result of the significant fall in interest rates, including reduced rates available for fixed term savings, this has been partially offset by the longer accounting period and increased cash balances throughout the year. 

Rehearsal premises costs are higher as there is one extra month of rehearsals due to the change in the accounting year end in the prior period.

Income and expenditure from Tours and trips has varied due to the different trips, the related travel arrangements and the number of members participating in those trips within each accounting period. The year ending 28 February 2010 includes the October 2009 trip to Shetland for 20 members and 1 guest travelling by ferry, whilst the prior period includes the June 2008 trip to Stavanger for 15 members and 2 guests travelling by air.

Following the change to the objectives in the constitution at the last AGM there is now expenditure for the £1,000 donation to The Archie Foundation.

Admin and other costs are slightly lower, primarily due to the inclusion in the prior period of the cost of public notices advertising the change in rehearsal premises and the value of CDs donated by Mike & Ali Vass for issue to the juniors.

Instrument & trophies depreciation is similar to the prior period – although there is an additional month's depreciation charge in the current year the charge is calculated on a lower opening book value of the assets.

Balance sheet items 

The committee agreed to reinvest some of the existing fixed rate bonds that matured earlier in the year in new fixed rate bonds. However, the rates on offer at maturity of the later bonds had an insufficient increment over short term notice account rates to justify reinvesting given the reduced flexibility of fixed rate and term bonds. 

As a result the balance invested in fixed rate bonds with maturity dates of less than one year included in current asset investments has fallen to £4,000 at 28 February 2010, compared with £8,000 at 28 February 2009. There has been an associated increase in the balances of Cash at bank and in hand.

Prepayments and other debtors as well as accruals are higher this year as a result of production and marketing costs for the Scottish Music Evening concert to be held on 25 April 2010.

At 28 February 2009 there was a deferred income balance within creditors in relation to deposits received from orchestra members for the planned Shetland trip in October 2009. There is no equivalent balance in relation to trips for the current year, although there is deferred income in relation to advance ticket sales for the Scottish Music Evening concert.

The Society is grateful for the donations it received towards its costs from the various nursing home and church concerts that it has played at during the period as well as those that have contributed to its other fundraising activities.

Contributions from volunteers

The members of the orchestra volunteer their time through weekly rehearsals, attending concerts and assisting with fundraising efforts.

Investments

The Society invests funds, including endowed funds, in deposit accounts with recognised UK financial institutions which may be of a fixed term nature. The aim of such investments is to achieve the best available investment income returns, balanced against minimising risk to capital, whilst meeting the cashflow requirements of the Society.

Reserves 

The Society holds endowed, restricted and unrestricted funds (the attached financial statements detail these funds). Unrestricted funds are held:

  • to provide funds which can be designated to specific projects such as concerts and competitions in the UK or abroad. Such events may arise at relatively short notice;
  • to cover ongoing costs in relation to the running of the Society including rent of rehearsal premises, performing at concerts or competitions, and administration costs.

The amount and timing of certain sources of income is variable in nature. Expenditure, particularly relating to concerts, may be committed in advance of knowing total income from an event. The committee therefore considers it prudent to hold unrestricted reserves in the form of net current assets excluding stocks of £7,200. 

This is considered sufficient to cover:

  • two years’ costs of rehearsal premises and administration costs - approximately £2,350 per annum;
  • potential deficits on concerts that the Society organises itself – equivalent to the production and marketing costs, excluding any ticket or other income, estimated as £1,000;
  • replacement instruments or administrative fixed assets, estimated at £500;
  • funds which can be designated for a single specific concert or competition event in the UK, based on prior events estimated at £1,000.

The net current assets excluding stocks of the unrestricted general purposes fund reported in the attached financial statements total £14,202 and therefore are considered to be above the level of reserves required for the ongoing needs of the Society. The committee continues to consider additional activities related to the Society’s objectives to which the excess reserves may be applied including:

  • other concert events in which the Society may participate, so funds may be specifically designated;
  • organising further taster sessions and increasing advertising to attract new members; and
  • arranging for external experts to provide Scottish music skills workshops to the orchestras.

The level of reserves are reviewed by the committee regularly throughout the year. The minimum level of reserves for the ongoing needs of the Society is reviewed by the committee on an annual basis.

The Society’s bankers are:

CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent ME19 4JQ
Bank of Scotland
54 John Street
Aberdeen
AB25 1LL
 
Standard Life Bank
Cash Savings Department
PO Box 23966
Edinburgh
EH3 1BF

The Independent Examiner is Louise Smith, [address withheld from web version].

Changes to the committee since the year end 

At the AGM on 24 May 2010 the following committee members resigned in accordance with the terms of the Constitution & Rules: Graeme Henderson, Karen Gill, Ross Fowler, Graham Reid, Gordon Pirie, Sheila Reid, Neil MacNeil, Kim Beveridge, David Jones, Laura McCracken and Brian Priestley.

The following committee members were appointed at the AGM on 24 May 2010: Graeme Henderson, Karen Gill, Moira Mapley, Ross Fowler, Graham Reid, Gordon Pirie, Sheila Reid, Nicholas Cowling, Kim Beveridge, Christine Marshall, Neil MacNeil and Laura McCracken.

Basis of Preparation

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (issued in March 2005), The Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.

For and on behalf of the committee

 

K Gill, Secretary
22 November 2010

Statement of committee members’ responsibilities as trustees

Law applicable to charities in Scotland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

  • select suitable accounting policies and then apply them consistently;
  • make judgements and estimates that are reasonable and prudent;
  • prepare the financial statements on a going concern basis unless it is inappropriate to presume the charity will continue in operation.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with The Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Report of the independent examiner

to the trustees of Aberdeen Strathspey & Reel Society

I report on the accounts of the Society for the year ended 28 February 2010 which are set out on pages 11 to 19.

Respective responsibilities of trustees and examiner

As outlined on page 9 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. The charity 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 independent examiner’s statement

My examination is 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 seeks explanations from the 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 the course of my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements:
    1. to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
    2. to prepare accounts which accord with the accounting records and 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.

 

Louise Smith, CA
a non-practising member of the Institute of Chartered Accountants of Scotland
23 November 2010

[address withheld from web version]

Please note the independent examiners report that is reproduced above relates to the review of the PDF print version of the accounts. The examiner has not performed a separate review of these html accounts.

 

Statement of financial activities

(incorporating income & expenditure account)

for the Year ended 28 February 2010 (comparatives for the 11 month period ended 28 February 2009)

 
 
Unrestricted funds:
 
Restricted
 
 
 
 

Notes
General
purpose
£
Designated funds
£
income funds
£
Endowed
Funds
£
2010
Total
£
2009
Total
£
Incoming resources info
 
 
 
 
 
 
 
Incoming resources from generated funds:
 
 
 
 
 
 
 
Voluntary income:
 
 
 
 
 
 
 
- Donations info
2
680
-
-
-
680
1,833
- Grants
 
-
-
-
-
-
1,800
- Members’ subscriptions info
 
1,056
-
-
-
1,056
1,008
Activities for generating funds info
3
724
-
-
-
724
607
Investment income (interest) info
 
368
-
40
-
408
555
 
 
 
 
 
 
 
 
Incoming resources from charitable activities:
 
 
 
 
 
 
 
Concerts info
4
3,088
-
-
-
3,088
9,742
Tours & trips info
 
-
2,752
-
-
2,752
2,446
Social events
5
350
-
-
-
350
270
Total incoming resources
 
6,266
2,752
40
-
9,058
18,261
 
 
 
 
 
 
 
 
Resources expendedinfo
 
 
 
 
 
 
 
Costs of generating funds:
 
 
 
 
 
 
 
Fundraising trading: costs of
goods sold and other costs info
3
(365)
-
-
-
(365)
(407)
 
 
 
 
 
 
 
 
Charitable activities:
 
 
 
 
 
 
 
Rehearsal premises info
 
(1,275)
-
-
-
(1,275)
(1,047)
Concert and competition costs info
4
(2,026)
-
(37)
-
(2,063)
(6,379)
Tours & trips info
 
-
(4,252)
-
-
(4,252)
(6,675)
Social events
5
(424)
-
-
-
(424)
(370)
Admin and other costs info
6
(531)
-
-
-
(531)
(873)
Donations expenditure info
7
(1,000)
-
-
-
(1,000)
-
Instrument/trophies depreciation
(124)
-
-
-
(124)
(124)
Charitable activities total
 
(5,380)
(4,252)
(37)
-
(9,669)
(15,468)
 
 
 
 
 
 
 
 
Governance costs
8
(168)
-
-
-
(168)
(171)
Total resources expended
 
(5,913)
(4,252)
(37)
-
(10,202)
(16,046)
 
 
 
 
 
 
 
 
Net incoming/(outgoing) resources before transfers
 
353
(1,500)
3
-
(1,144)
2,215
Gross transfers between funds
 
(1,500)
1,500
-
-
-
-
Net movement in funds info
 
(1,147)
-
3
-
(1,144)
2,215
 
 
 
 
 
 
 
 
Fund balances brought forward
 
19,226
-
(3)
1,000
20,223
18,008
Fund balances carried forward
18,079
-
-
1,000
19,079
20,223

The notes on pages 13 to 19 form part of these financial statements.

Balance Sheet

at 28 February 2010

    2010   2009
  Notes £ £   £ £
Fixed assets            
Tangible fixed assets 11   1,287     1,381
Investments 12  
1,000
   
1,000
Total fixed assets     2,287     2,381
             
Current assets            
Stock 13 2,590     2,850  
Debtors info 14 1,174     756  
Investments info 15 4,000     8,000  
Cash at bank and in hand  
10,132
   
7,757
 
Total current assets   17,896     19,363  
Creditors: amounts due within one year info 16
(1,104)
   
(1,521)
 
Net current assets     16,792     17,842
Net assets    
19,079
   
20,223
             
FUNDS 1, 17          
             
Unrestricted income funds            
General purposes fund     18,079     19,226
Designated fund – Shetland Trip 2009     -     -
             
Restricted income funds            
Iain Fraser Award prize fund     -     (3)
             
Endowed funds            
Iain Fraser Award endowment fund     1,000     1,000
             
Total funds    
19,079
   
20,223

The notes on pages 13 to 19 form part of these financial statements.

Approved by the committee and signed on their behalf

 

G Henderson, President

22 November 2010

Notes - Accounting policies

Notes to the accounts

1. Accounting Policies

General

These financial statements have been prepared under the historic cost convention (except for investments) and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), The Statement of Recommended Practice: Accounting and Reporting by Charities issued in March 2005 (the Charities SORP 2005), The Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.

These accounting policies have been applied consistently throughout the current and previous periods.

Basis of recognition and allocation of expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT which cannot be recovered and is reported as part of the expenditure to which it relates. Costs are charged directly to the most appropriate activity or category. Committee expenditure is allocated on the basis of where the majority of time is spent on activities.

Depreciation, donated fixed assets and heritage assets

The Society owns original music manuscripts which are considered historic heritage assets. These have not been capitalised in the balance sheet due to the difficulty in obtaining reliable cost information, as permitted by the Charities SORP 2005.

Donated fixed assets are capitalised at their estimated value.

Provision for depreciation of fixed assets held for use by the Society is made at the following rates based on the estimated useful life of these fixed assets and their anticipated residual value:
Instruments, office equipment and trophies 10% per annum, reducing balance basis

The net book value of impaired assets is adjusted by additional depreciation charges which are reported within the appropriate heading of the Statement of Financial Activities.

Investments

Investments are recorded at market value.

Stocks

Stocks for resale are valued at the lower of cost and net realisable value.

Unrestricted, endowment and restricted income

Unrestricted funds consists of the general purposes fund and designated funds. Designated funds are funds established by the committee from time to time for specific projects or purposes, are not in any way restricted and any surplus or deficit will be transferred to/from the general purposes fund when the designated fund is closed.

Restricted funds (income and endowment) are funds subject to specific restrictions imposed by donors or by the purpose of the appeal. The purpose and use of designated, restricted income and endowment funds is set out in the notes to the financial statements.

Incoming resources:

  • Concert income consists of appearance fees, broadcast rights income and ticket sales from concerts organised by the Society. Income from advance ticket sales is treated as deferred income until the event has occurred. Hospitality during concert events received from promoters is excluded as permitted by the Charities SORP 2005 due to the difficulty in ascertaining value.
  • Donations income includes amounts received from non-commercial events such as church, nursing home and fundraising concerts which are considered donations in substance. Income is recognised on receipt. Also included is the estimated value of Gifts in kind and goods or services donated to the Society where the amounts are material, readily quantifiable and measurable. Such estimates are based on the market price the Society would otherwise have paid.
  • Donations of goods for resale are included in fundraising activities at the sale value, once sold.
  • Member subscriptions are considered to be donations in substance and are recognised on receipt.
  • Gift Aid recoverable is included within the same category of income to which the Gift Aid claim relates in the same period in which that income is recognised.
  • Income from grants is recognised when entitlement is demonstrable, there is certainty regarding the amount and any conditions attached are wholly within the control of the Society.
  • Tours and trips includes income relating to the travel arrangements of specific concerts outwith the usual geographic area of the Society. Contributions to costs from members is treated as deferred income until the event has occurred.
  • No value has been attributed to the contribution of the members acting as volunteers playing at concerts. Refer to the annual report for more information on their contribution.

Resources expended:

  • Concert and competition expenditure includes the direct costs of concerts or competitions (such as venue hire, marketing, box offices fees, performing rights fees and artist fees) and indirect costs (such as provision of music, music skills workshops and composition of harmony parts). Costs incurred in the preparation of concerts are treated as prepayments until the event has occurred.
  • Grants and donations - the objects of the Society include the option of the payment of grants or donations for charitable purposes at the discretion of the management committee.
  • Tours and trips includes expenditure relating to the travel arrangements of specific concerts outwith the usual geographic area of the Society. Costs are treated as prepayments until the event has occurred.
  • Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Society and include the independent examination, costs relating to the committee and AGM meetings, and an allocation of committee expenses.
  • An amount equal to the donations income recognised on Gifts in kind (not for resale) and goods or services received free of charge is included within the most relevant category of expenditure to which the donation relates.

Joint arrangements

The Society occasionally enters into joint arrangements with other parties to share the costs and risks of concerts. In accordance with the Charities SORP 2005 where such joint arrangements are entered into the Society accounts for its contractually agreed share of the gross income and expenditure within the relevant lines of its own income and expenditure account.

Taxation

The Society is exempt from tax due on income and gains falling within section 505 of the Income & Corporation Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives. No tax charges have arisen in the Society.

Change in accounting period – comparative figures

The accounting period end changed in the prior period. The current period financial statements and notes are for the year from 1 March 2009 to 28 February 2010. The comparative figures are for the 11 month period from 1 April 2008 to 28 February 2009. 

Notes - Continued 1

2. Donations

General purposes fund: 2010
£
2009
£
Non-commercial concert donations 590 615
Other donations 5 548
Value of Gifts in kind and donated goods or services 85 670
 
680
1,833

A corresponding amount of expenditure in relation to the value of donated goods and services has been included in the following resources expended categories:

General purposes fund: 2010
£
2009
£
Cost for generating funds – Scottish Music Evening Raffle (note 3) 35 -
Concerts & competitions costs – Music Hall Fiddlers Rally (note 4) - 120
Admin & other costs – Gifts to members (note 6) - 200
Fixed assets – Office equipment (note 11) 50 -
Fixed assets – Instruments additions - 350
 
85
670

3. Activities and costs for generating funds 

General purposes fund:   2010     2009  
  Income
£
Costs
£
Net
£
Income
£
Costs
£
Net
£
Charity shop - - - 50 - 50
Scottish Music Evening Raffle 132 (92) 40 - - -
Easyfundraising.org.uk 96 - 96 144 - 144
CD, Tape & other items 496 (273) 223 413 (407) 6
 
724
(365)
359
607
(407)
200

4. Concerts and competitions

General purposes fund:   2010     2009  
  Income
£
Costs
£
Net
£
Income
£
Costs
£
Net
£
HMT Fiddlers' Spectacular - - - 8,367 (5,545) 2,822
Music Hall Fiddlers Rally 800 (364) 436 800 (120) 680
Scottish Music Evening 988 (999) (11) - - -
Aberdeen Winter Festival 750 (3) 747 - - -
Tartan Day 200 - 200 200 - 200
Society annual competition - (107) (107) - (128) (128)
Taster sessions - (273) (273) - (97) (97)
Other concerts & workshops 350 (280) 70 375 (428) (53)
Total general purposes fund
3,088
(2,026)
1,062
9,742
(6,318)
3,424
             
Restricted income funds:            
Iain Fraser Prize - (37) (37) - (61) (61)
             
Total of all funds
3,088
(2,063)
1,025
9,742
(6,379)
3,363

The cost of rehearsal premises is reported separately in the Statement of Financial Activities and is not allocated to concerts as the committee view that, although related, practices are a separate activity to performances.    

5. Social events

General purposes fund:   2010     2009  
  Income
£
Costs
£
Net
£
Income
£
Costs
£
Net
£
Christmas ceilidh party
350
(424)
(74)
270
(370)
(100)

6. Admin and other costs

General purposes fund: 2010
£
2009
£
Insurance 86 79
Stationery, subscriptions, web site 347 340
Advertising & public notices - 98
Committee expenses (see note 9) 78 78
Gifts to Society members and others - 263
Office equipment depreciation (see note 11) 20 15
 
531
873

7. Donations expenditure

General purposes fund: 2010
£
2009
£
Archie Foundation
1,000
-

8. Governance costs

General purposes fund: 2010
£
2009
£
Stationery & postage 19 33
Gift to Independent Examiner 40 40
Rent for meetings 31 28
Committee expenses (see note 9) 78 70
 
168
171

9. Committee expenses and benefits


Expenses allocated to:
    2010
£
2009
£
Charitable activities     78 78
Governance     78 70
     
156 
148

During the period two committee member received reimbursement of expenses to cover communications, stationery, heat, light and other costs of fulfilling committee roles from home as no office accommodation is provided by the Society (2009: two committee members received expenses). No committee members received any remuneration in the year (2009: none), nor were they paid any expenses for attending committee meetings.

During the previous period committee member Graham Reid was presented with a small gift (value £26) in recognition of his 21 years of service to the Society as conductor. The cost is included within Admin & other costs (see note 6).

Related party transactions - member benefits

All the committee are members of the Society and are entitled to the benefits offered to all members. No disclosure is made of transactions entered into or benefits obtained where these are available to the entire member group

10. Employees

There were no employees during the year (2009: none).

Notes - Continued 2

11. Tangible fixed assets

 
Instruments
£
Office
Equipment

£

Trophies
£

Total
£
Cost        
At beginning of year 1,702 350 530 2,582
Additions - 50 - 50
At end of year
1,702
400
530
2,632
         
Depreciation        
At beginning of year 667 199 335 1,201
Charge for year 104 20 20 144
At end of year
771
219
355
1,345
         
Net book value        
At 28 February 2010
931
181
175
1,287
         
At 28 February 2009
1,035
151
195
1,381

Heritage fixed assets

The Society owns three original music manuscripts by Peter Milne and one music manuscript by J Scott Skinner. Due to the difficulty in valuing these they are not incorporated in the above table. The manuscripts are currently on loan to the University of Aberdeen and can by viewed in their archives by contacting them directly.    

12. Investments (fixed assets)

    UK Fixed
Term Bond
£
Cost and market value    
At beginning of year   1,000
Investment matured   (1,000)
New fixed rate bond purchased   1,000
At end of year  
1,000

13. Stock

  2010
£
2009
£
Finished goods: CDs, Tapes, Anniversary Books 2,447 2,705
T Shirts and Ties 143 145
 
2,590
2,850

14. Debtors

  2010
£
2009
£
Trade debtors 150 -
Gift Aid recoverable 63 163
Other debtors and prepayments 961 593
 
1,174
756

15. Investments (current assets)

    UK Fixed
Term Bond
£
Cost and market value    
At beginning of year   8,000
Investments matured   (8,000)
New fixed rate bonds purchased   4,000
At end of year  
4,000

The maturity dates of the fixed term bonds are all less than one year.    

16. Creditors: amounts due within one year

  2010
£
2009
£
Trade creditors 26 165
Deferred income 90 690
Accruals and other creditors 988 666
 
1,104
1,521

17. Total funds  

In the period ended 28 February 2009 a designated fund was established in relation to payments from members for the planned trip to Shetland in October 2009. In March 2009 the committee agreed to designate £1,000 from the General Purposes Fund towards subsidising travel and accommodation costs of the Shetland trip, a further transfer from the General Purposes Fund was made in October 2010 to cover additional costs of the trip including costs for performing, taking the total transfer for the year to £1,500

The income from the Iain Fraser Award endowment fund is restricted and is to be used as a prize (the Iain Fraser Award) in the Society’s annual competition. The income may be variable and/or received in arrears. The committee has agreed that any deficit arising on the fund should be carried forward, reducing the following year’s prize.  

Fund name

Opening balance
£
Incoming Resources
£
Resources Expended
£

Transfers
£
Closing balance
£
Unrestricted: General purposes fund 19,226 6,266 (5,913) (1,500) 18,079
Designated fund – Shetland Trip 2009 - 2,752 (4,252) 1,500 -
           
Restricted:          
Iain Fraser Award prize fund (3) 40 (37) - -
           
Endowed: Iain Fraser Award endowment fund 1,000 - - - 1,000
           
Total all funds
20,223
9,058
(10,202)
-
19,079

18. Analysis of net assets by fund

  Unrestricted funds:    
  General
purposes
fund
£

Designated
funds
£
Restricted
income
funds
£

Endowed
funds
£

    Total
£

Tangible fixed assets 1,287 - - - 1,287
Investments (fixed assets) - - - 1,000 1,000
Net current assets 16,792 - - - 16,792
 
18,079
-
-
1,000
19,079

19. Controlling party

The Society was under the control of the committee members, as detailed on page 1, throughout the current year. Refer to the previous year's annual report for a full list of the committee members that served during that period.

PDF Version - Annual Report 2010

The online version of our annual report and financial statements contains exactly the same words and numbers as the print PDF version below, but with some additional functionality in terms of interactive charts, hyperlinks and help tips.

As we haven't changed any of the text in the online version the page references are only correct for the PDF version. However, we have converted the page numbers to hyperlinks so that you will still navigate to the correct place.

Please note the independent examiners report that is reproduced online relates to the review of the PDF version of the accounts. The examiner has not performed a separate review of the online html version.

Please email treasurer@aberdeenstrathspey.org.uk if you require a copy of the signed originals.

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2010 Annual report and accounts web version416.13 KB