Previous Annual Reports

Annual reports before the latest version are available below.

Annual report 2012

2013 Charities Online Financial Reporting Award Winner's SealOur 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 tips info symbol. You need javascript enabled in your browser to take advantage of these features, hover the mouse cursor over the i symbol.

As there are no physical space constraints the html version includes some additional charts which are not in the original PDF version. These charts all rely on numeric data that is published in both versions.

Browser requirements: We no longer support or test compatability with Internet Explorer 6 (IE6). We know that IE6 does not support all the interactive chart functionality used in the annual report and that the style sheets used do not work fully either. If you're still using IE6 please consider upgrading.

We haven't changed any text for the html version so the page number references will only be correct if you use the PDF print version. However, we have converted the page numbers to hyperlinks so that you can navigate to the correct place.

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.

Who runs the Society | Why we're here | What we've achieved | What we're planning | Finances | Examiners Report

President's Introduction

I have to say, it doesn’t feel like 5 years since I took over the reigns from Alan Smith, the previous President. In that time I’ve been very lucky in that there has always been an exceptionally good support team in the form of the Committee, all of whom have helped to make the running of the Society particularly smooth, thus making my part of the job decidedly straightforward and pleasant. I would especially like to pick out Ross Fowler for special mention for all his hard work in so many different aspects of the Society.

I have also been lucky in that I have been able to be partly responsible for helping to celebrate the remarkable milestone of Graham Reid’s Silver Jubilee as conductor. Graham has done so much for the Society over the last 25 years, anything that I have managed to do to recognise his efforts may be very small, but is with deeply heart-felt thanks.

There are major changes facing the Society in the near future. It looks very likely that we will have our first ever female president and our first new lead conductor for 25 years. Societies like ours need change in order to continue and to grow. If the water in the pond doesn’t change it will stagnate. However, particularly for a group like ours, we cannot afford to surge blindly forward without paying heed to what has gone before.

To paraphrase the wonderful author Terry Pratchett, “We have to know where we came from, because if we don’t know where we came from then we don’t know where we are, and if we don’t know where we are, then we don’t know where we are going, and if we don’t know where we are going, then we don’t know if we are going wrong.”

So by all means, lets embrace the future, embrace the change that’s coming, but don’t forget to keep at least half an eye on the past.

Graeme Henderson, President (2007-2012)

Annual Report

The committee present their report for the year ended 28 February 2012.

The members of the committee during the year were:

Original Committee Structure New Committee Structure

all resigned 30 May 2011
Office Bearers
President: Graeme Henderson
Vice President: Karen Gill
Secretary: Karen Gill
Assistant Secretary: Moira Mapley
Treasurer: Ross Fowler
Conductor: Graham Reid
Deputy conductor: Gordon Pirie
Assistant conductor: Sheila Reid
Pianist: Nick Cowling
Leader: Kim Beveridge

Other committee members
Kate Falconer, Laura McCracken,
Christine Marshall, Emma MacPherson,
Neil MacNeil, Karen Steed

all appointed 30 May 2011 (except where stated)
Office Bearers
President: Graeme Henderson
Vice President: Karen Gill
Secretary: Brian Priestley
Assistant Secretary: position vacant
Treasurer: Ross Fowler
Conductor: Graham Reid

Other committee members
Gloria Hay
Joanne Miller
Mhairi Shand (appointed 13 October 2011)

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 committee was restructured during the year as detailed in the review of developments section. With effect from May 2011 all the committee are elected annually. The committee has the power to fill any 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 30 May 2011. 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. 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 which vary 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.

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. In addition orchestra trips either in the UK or internationally may be undertaken where resources and opportunities permit.

Applications for new membership are actively encouraged, 4 new member applications were approved during the financial year. The member categories and subscriptions received for 2011/12 are:

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 52
Junior members (members under the age of 16 at the start of a session)* £10 8
Non playing members* £10 nil

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.

Category Awarded on 30 May 2011 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

A Dreelan
S Bruce
N Cowling
S Reid
Accordion: Open age - Kenny Young Quaich M Donald
Violin, accordion or piano: Under 23 - Iain Fraser Award & Trophy S Bruce
Ensemble: Open age - Dave Beaton Trophy No Entries
Original composition: Open age - Caithness Bowl M Johnston

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 J Johnston on 30 May 2011.

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. 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

1
national award
7
fewer trustees
17
concerts
25th
concert season
for our
conductor
35
rehearsals
60th
anniversary
as a
charity
67
orchestra 
members
88
keys on
our new
stage piano
 £1,000
donated to charity
2,300+
people entertained  

Concerts

Fiddlers Spectacular poster - picture of violin in background with Caledon on stage in foregroundFiddlers' Spectacular at His Majesty's Theatre May 2011
Reel & Rowie Coffee Morning Poster - picture of violin in background with coffee cup and rowie in foregroundAudience feedback: "very enjoyable", "lovely atmosphere", "the music made you want to get up and dance"

The Society's orchestras have had a full programme of 17 performances 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:

  • The Fiddlers' Spectacular at Aberdeen His Majesty's Theatre which ran from 5-7 May 2011. A joint production with Banchory Strathspey & Reel Society the guests included Scotland's Three Tenors “Caledon”, comedian and broadcaster Fred MacAulay, Bucksburn & District Pipe Band and award winning accordionist Craig Paton. The show was well received in press reviews, though the audience numbers were disappointing; 
  • In August 2011 we performed in Union Terrace Gardens as part of Aberdeen's Tartan Day Festival;
  • The Society, along with guests from other societies, hosted the annual Fiddlers Rally at Aberdeen Music Hall in November 2011. Guests were Scottish soprano Richard Morrison and Scottish Dance Band the Tom Orr Trio. The Rally included a tribute to John Mason, who was the Society's Honorary President until he passed away in January 2011. Audience numbers were lower than in previous years;
  • January 2012 saw the Society celebrate its 60th anniversary as a Scottish Charity. As part of those celebrations we piloted a new format of concert the "Reel & Rowie Coffee Morning" designed to provide a relaxed, informal, family friendly introduction to the Society for new audiences as well as existing supporters. Based on audience feedback - first time attendees represented 45% of the audience survey data we collected - and a close to capacity hall, the event was a great success.

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

Our achievements for the year, including a slight reduction in the number of non-commercial concerts, have to be considered in terms of the economic climate in which we continue to operate.

Two large care home operators entered into administration during the year, affecting homes at which the Society regularly performs. Anecdotal evidence suggests other operators and groups are also reducing their spending on entertaining in general and not just Society performances. The reduction in bookings from established relationships has been partly offset by other bookings, though some of these were for one-off events. The committee are actively monitoring the level of bookings.

Aberdeen City Council removed the St Andrew's Day celebrations from its Aberdeen Winter Festival activities and there were reductions in other elements of the Festival. Members of the Society have performed in the Festival previously.

Funding cuts and cost pressures on concert venue owners is resulting in higher venue charges for the Society and ticket price increases for audiences. Budget pressures at Aberdeen City Council have resulted in the extension of car park charges in Aberdeen city centre to after 6pm, further increasing the costs for audiences attending an evening event.

Given the current economic conditions we believe it is inevitable that audiences are re-evaluating their discretionary expenditure. This is considered a significant contributing factor to the smaller concert audiences observed during the year.

Higher parking costs and increasing transport costs also fall on the orchestra members and visiting performers to the Society's annual rally. The orchestra and visiting performers act on a voluntary basis and cover their own travel costs. We would like to thank all the fiddle and accordion players that continue to travel from across Scotland to support the Society's rally.

In spite of the economy, we believe that there is continued support and demand for traditional Scottish music from audiences in Aberdeen and our orchestras are delivering a high quality music experience.

The committee will continue to explore options for developing new audiences, as well as supporting our existing audiences through delivering both traditional and alternative performance formats. 

Other events and developments

President Graeme Henderson presents a £1,000 cheque to CLAN's fundraising managerPresident Graeme Henderson presents a £1,000 cheque to CLAN's fundraising manager

Supporting others

In March 2011 we presented a donation of £1,000 to CLAN (Cancer Link Aberdeen & North).

Governance and communications

As part of a governance review the committee considered it appropriate to reduce the committee size required by the Society's Constitution & Rules. In recent years it has been difficult to find willing volunteers from the orchestra to fill all the roles, and to co-ordinate meeting dates so everyone can attend and fulfil their trustee duties.

A revised and smaller committee structure of 9 trustees, a reduction from the previous 16, was proposed and approved at the AGM in May 2011. It is intended to make more use of sub-committees, which can include orchestra members not on the management committee, to increase flexibility and help spread the workload in the administration and activities of the Society. Certain positions that were on the committee continue in a non-committee role.

Graham Ward presents the Charities Online Financial Reporting AwardGraham Ward CBE presents the Charities Online Financial Reporting Award, Photo: ICAEW

The redevelopment of the Society website undertaken in previous years was partly to enable us to publish our annual report and financial statements online. This allows us to be open and transparent about how we spend our income and the results we have delivered.

In June 2011 the Society's annual report and financial statements (for the year ended 28 February 2010) were awarded 1st prize in their income category in the annual Charities Online Financial Reporting Awards (COFRA) run by the Institute of Chartered Accountants of England & Wales. The prize included a donation of £3,000, a certificate and logo to display on our website, as well as valuable feedback. Society Treasurer Ross Fowler attended the ceremony in London to collect the award.

The judges were impressed with our efforts, complimenting the online version on its interactivity and innovation. They considered that if there had been an overall winner from all five income categories (which included the top 100 UK charities) it would have been Aberdeen Strathspey & Reel Society.

Our 2011 annual report, which includes further interactive improvements, has been submitted for consideration in the next annual COFRA awards to be announced in June 2012. We'll also publish this 2012 report online in the next few months.

The award gives us assurance that we're delivering on our reporting aims. However, please contact us if you have any suggestions, feedback or queries on this or our previous reports.

Fundraising

Donate £2 by Texting "REEL01 £2" to 70070You can now donate to the
Society by text message

During the year we joined Vodafone's JustTextGiving scheme. This allows charities and non-profit groups to receive donations via text message. There is currently no cost to the Society for being part of the scheme, we receive 100% of the donation and the only cost to the donor is the amount that they wish to donate.

In June 2011 Aberdeen music store Bruce Miller closed its doors for the final time, bringing to an end 111 years of trading. The Society has had a long association with Bruce Miller, they were the stockist of our first album when it was released in 1932 and more recently stocked the Society's three CDs. The store was also the source of violin strings, rosin for bows, music books and accessories for the orchestra members and will be much missed.

Following Bruce Miller's closure the committee sought alternative CD stockists and we're pleased to announce that the gift shop at Charles Michie, another Aberdeen retailer, began stocking the Society's CDs in November 2011.

Other items

Conductor Graham Reid cutting his 25th concert season celebration cakeConductor Graham Reid, with his wife Sheila, cuts his 25th concert season celebration cake

The 2011/12 concert season is conductor Graham Reid's 25th. The Society marked the milestone with both a celebration cake and a gift of an engraved hip flask, which was presented to Graham during the Fiddlers' Rally in November 2011 YouTube Logo. Graham is the longest serving of any the Society's conductors. The members cannot thank him enough for all his hard work, dedication and enthusiasm over the past 25 years.

The Society continues to be a member of Making Music, a charity which provides information, support and other services to voluntary music groups, including arranging the Society's block insurance cover.

On the social front in addition to the annual Christmas Party another event in the form of a Race Night was organised in May 2011. Both were enjoyed by all that attended.

Our thanks go to all members, old and new, who give their time freely to play at the many concerts held during the year and help in various ways to keep the Society running so smoothly. 

Future plans

Final rehearsals and preparations are underway for the Society's “Scottish Music Evening” concert at the Lemon Tree on 29 April 2012.

We plan on appearing in the second Celebrate Aberdeen parade on 9 June 2012. The aim of the parade is to involve and showcase the many community organisations based in the City of Aberdeen.

The Fiddlers' Rally at Aberdeen Music Hall, which the Society hosts, has been confirmed for Saturday 10 November 2012.

We have applied to participate in the Bandstand Marathon on 9 September 2012. The Bandstand Marathon forms part of the 2012 Cultural Olympiad and is intended to encourage musical performances in open public spaces across the UK.

Finances, Investment and Reserves Policy

Finances

The review below and the attached financial statements show the current finances of the Society. The highlights are:

  • a total surplus (including investment gains) for the year of £2,469 (2011: total deficit of £829);
  • fixed asset purchases of £1,358, including a new digital stage piano;
  • the committee approved a revised investment policy and selected a Common Investment Fund to hold long term funds including endowed funds;
  • the general fund has net cash resources1 at 28 February 2012 of £15,107;

Summary of income and expenditure and other gains/losses info symbol

 
 

Hover the cursor over a category to display the related annual report explanation. Click a legend item to show/hide that series.

 

Significant changes in income less expenditure and other gains/losses: £
Net deficit for year to 28 February 2011 (829)
Increase in donations income +3,658
Increase in donations expenditure (1,000)
Reduction in subsidy on Tours & trips +1,048
Increase in Governance costs (316)
Net impact of other changes in income, expenditure and other gains (92)
Net surplus for year to 28 February 2012 +2,469

The results for the year include a number of one-off income and expenditure items. The committee consider the recurring income and expenditure of the Society to be broadly balanced.

Analysis of income categories which have corresponding expenditure

 
 
 

Concert income and expenditure varies based on the number of events and whether the Society is the promoter of the event, or receives an appearance fee from the promoter. Due to the May 2011 Fiddlers' Spectacular the Society did not promote an equivalent to the Scottish Music Evening, which was held in the previous financial year, though we did promote the Reel & Rowie Coffee Morning this year. Audience numbers for the Spectacular were low and we received only a small appearance fee

In addition other commercial concert bookings were lower, mainly due to council cutbacks. In addition to the differences in concerts promoted, prior year concert expenditure included a fiddle workshop with no equivalent in the current year. Instruments depreciation is higher this year following the purchase of a new stage piano. Overall the surplus from Concerts & competitions was £318 lower.

There were no tours or trips undertaken during the financial year resulting in nil income and expenditure, the Shetland Festival trip in October 2010 and associated travel cost subsidy of £1,048 was included in the previous financial year.

Fundraising income and expenditure is lower as last financial year included a raffle held at the Scottish Music Evening concert, with no equivalent in the current year. In addition there were fewer CD sales in the year and a further reduction in the value of the stocks was booked. This was partly offset by increased income from easyfundraising associated with members' online shopping. Overall the surplus from fundraising was £113 lower.

Social events income and expenditure is higher as a result of the increased attendance at the annual Christmas Ceilidh party and the inclusion of a Race Night as an additional event in the current year. The deficit on Social events has reduced £62.

Income categories & other gains which don't have corresponding expenditure

 

Expenditure categories which don't have corresponding income

 
 

Donations income has increased £3,658 due to one-off donations including the Charities Online Financial Reporting Award prize of £3,000 plus an associated subscription, as well as a donation from ConocoPhillips for £500. As noted in our achievements there were slightly fewer non-commercial performances, though some of those we performed at resulted in higher than average donations

Members subscriptions this year are £161 higher primarily due to the receipt of several late subscriptions in relation to the previous 2010/11 membership year.

Investment income is higher by £55. Through selecting a new deposit account provider and increasing the amounts on fixed term deposit the average interest rate achieved for the year has increased. In addition our bank balances have been higher through the year compared to last year, and the revised investment policy on long term funds including endowed funds also increased investment income.

Rehearsal premises costs are slightly higher by £92. The increase would have been more due to higher rent charges, but this was offset by a small reduction in the length of each weekly let for the adult orchestra. The premises are let from Aberdeen City Council and their current policy is to increase rent charges annually in line with inflation.

Donation expenditure consists of a £1,000 donation to CLAN (Cancer Link Aberdeen & North), an Aberdeen based cancer support charity, which was agreed at the AGM in May 2010 and for which a designated fund was in place. There was no corresponding donation expenditure in the prior year.

Admin and other costs are £131 lower as last year included additional depreciation charges associated with the disposal of a photocopier. In addition expenses claimed by committee members allocated to Admin and other costs are lower this year.

Governance costs are higher by £316 primarily due to travel costs for attending the Charities Online Financial Reporting Award ceremony and the inclusion of the value of a donated subscription that formed part of the award prize.

Balance sheet items

 

The net cash resources of the General fund is £15,107 an increase of £2,346. This reflects the £3,292 surplus on the General fund for the year (after adjusting for non-cash items and other movements in current assets and current liabilities) less fixed asset purchases of £1,358. Fixed asset purchases include a new portable stage piano which offers better sound quality and increased volume without additional amplification.

During the year Standard Life Cash Savings ceased offering fixed rate deposit products. The committee reviewed alternative fixed rate deposit providers and selected Julian Hodge Bank. After considering the available cash resources and forward plans the amount held on fixed term deposit was increased to £6,000 to take advantage of the higher interest rates available.

Debtors and creditors balances includes, respectively, prepayments of production costs and deferred income from advance ticket sales associated with the Scottish Music Evening planned for April 2012.

Contributions from volunteers

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

Investments

A revised investment policy was approved by the committee in March 2011 as follows:

  • Short to medium term funds are likely to be spent within the next five years. The funds will be invested in high interest deposit accounts which may be of a fixed term nature. The aim of such investments is to achieve the best available income returns, whilst minimising risk to capital and ensuring the cashflow requirements of the Society are met.
  • Long term funds, including the endowment funds, are not required to be spent within the next five years. They will be invested in collective investment schemes which seek income and long-term capital growth from a broadly diversified portfolio of assets including equities and fixed interest securities.

In applying the above policy the committee has agreed to invest long term funds, including the Iain Fraser Award Endowment Fund, in the Alpha Common Investment Fund for Income & Reserves managed by Sarasin Investment Funds Ltd. The fund is a charity in its own right and offers the benefits of pooled investments to other charities.

Through a single investment the fund provides a diversified portfolio with a broad spread of asset classes across several countries and professional investment management at low cost.

The selected fund is conservative with an emphasis on capital preservation and generating a high income. It typically holds 80% of the portfolio in fixed interest bonds and cash, with the balance held in equities and other investments.

Although the Society does not have any ethical constraints as part of its own investment policy the selected fund does operate an ethical investment policy, including a restriction on investing in tobacco companies. Sarasin have stated in their view this does not have a detrimental impact on returns.

The fund manager has established a composite performance benchmark based on published UK and global indices including gilts (60%), shares (20%), corporate bonds (15%) and cash deposits (5%).

The capital value of the fund has increased (after charges) by 2.2% since purchase in April 2011. Due to purchase timing only three of the fund’s quarterly dividends are included within the financial year. The target income yield is approximately 4.25%.

The change in investment policy has enabled a 43% increase in the Iain Fraser Prize paid in the year. A further increase is anticipated for the next prize award as the funds will have benefited from a full year of dividend income.

Information on the current allocation of the fund by both investment asset type and geography is published on the Society's website under the About Us / Policies / Investments section.

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 £7,500.

This is considered sufficient to cover:

  • two years’ costs of rehearsal premises and administration costs - approximately £2,500 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 £15,107 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;
  • audience development projects and related activities.

In addition a designated fund has been established for a replacement stage piano. It is intended to increase the fund by £150 per year, plus associated interest income, over a 10 year period ending in 2021, by which time the current stage piano is expected to be at the end of its useful life.

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.

Other reference and admin details

Bankers - current accounts:

CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ
Bank of Scotland, 54 John Street, Aberdeen, AB25 1LL

Bankers - deposit accounts:

Julian Hodge Bank, 29 Windsor Place, Cardiff, CF10 3BZ
Scottish Widows Bank, 67 Morrison Street, Edinburgh, EH3 8YJ  

The Alpha CIF Income & Reserves investment manager is  :

Sarasin Investment Funds Ltd, 100 St Paul's Churchyard, London, EC4M 8BU

The Independent Examiner is:

Graeme Reid, Williamson & Dunn Chartered Accountants
3 West Craibstone Street, Bon-Accord Square, Aberdeen, AB11 6YW

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.

Approved by the committee and signed for and on their behalf by:

B Priestley, Secretary
29 April 2012

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.


Footnote 1: Calculated as cash and bank balances after adding debtors balances and deducting creditors balances.

 

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 2012 which are set out on pages 13 to 22.

Respective responsibilities of trustees and examiner

As outlined on page 11 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.

Graeme Reid, CA
29 April 2012

Williamson & Dunn Chartered Accountants
3 West Craibstone Street
Bon-Accord Square
Aberdeen
AB11 6YW

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

Help - Question Mark Symbol

(incorporating income & expenditure account)

for the Year ended 28 February 2012


Notes Unrestricted funds:
Restricted income funds
£
Endowed
Funds
£
2012
Total
£
2011
Total
£
General
purpose
£
Designated funds
£
Incoming resources info
 
 
 
 
 
 
 
Incoming resources from generated funds:
 
 
 
 
 
 
 
Voluntary income:
 
 
 
 
 
 
 
 - Donations info
2
4,211
-
-
-
4,211
553
 - Members’ subscriptions info
 
1,201
-
-
-
1,201
1,040
 Activities for generating funds info
3
305
-
-
-
305
527
 Investment income info
4
214
-
35
-
249
194
 
 
 
 
 
 
 
 
Incoming resources from charitable activities: info
 
 
 
 
 
 
 
 Concerts info
5 1,512
-
-
-
1,512
2,500
 Tours & trips info
 
-
-
-
-
-
3,990
 Social events info
6
792
-
-
-
792
248
Total incoming resources
 
8,235 
35
-
8,270
9,052
 
 
 
 
 
 
 
 
Resources expended info
 
 
 
 
 
 
 
Costs of generating funds:
 
 
 
 
 
 
 
 Fundraising trading: costs of
 goods sold and other costs info
3
(162)
-
-
-
(162)
(271)
 
 
 
 
 
 
 
 
Charitable activitiesinfo
 
 
 
 
 
 
 
 Rehearsal premises info
 
(1,602)
-
-
-
(1,602)
(1,510)
 Concert and competition costs info
5
(856)
-
(30)
-
(886)
(1,556)
 Tours & trips info
 
-
-
-
-
-
(5,038)
 Social events info
6
(869)
-
-
-
(869)
(387)
 Admin and other costs info
7
(628)
-
-
-
(628)
(759)
 Donations expenditure info
8
-
(1,000)
-
-
(1,000)
-
Charitable activities total
 
(3,955)
(1,000)
(30)
-
(4,985)
(9,250)
 
 
 
 
 
 
 
 
 Governance costs info
9
(676)
-
-
-
(676)
(360)
Total resources expended
 
(4,793)
(1,000)
(30)
-
(5,823)
(9,881)
 
 
 
 
 
 
 
 
Net incoming/(outgoing) resources before transfers
 
3,442
(1,000) 5
-
2,447
(829)
Gross transfers between funds 
17
(150)
150 -
-
-
-
               
Other recognised gains/losses              
Gains on investments 13
-
-
-
22
22
-
Net movement in funds info
 
3,292
(850) 5 22
2,469
(829)
 
 
 
 
 
 
 
 
Fund balances brought forward
 
16,250 1,000 - 1,000 18.250 19,079
Fund balances carried forward
19,542
150
5
1,022
20,719
18,250

The notes on pages 15 to 22 form part of these financial statements.


 

Hover the cursor over a category to display the related annual report explanation. Click on a legend category to show or hide that bar.

Balance Sheet

at 28 February 2012

    2012   2011
£ £ £ £
Fixed assets            
Tangible fixed assets info 12   2,140     1,036
Investments info 13  
1,022
   
1,000
Total fixed assets     3,162     2,036
             
Current assets            
Stock 14 2,295     2,453  
Debtors 15 546     568  
Fixed term deposits (maturing within one year) info   6,000     2,000  
Cash at bank and in hand  
10,055
   
12,627
 
Total current assets   18,896     17,648  
Creditors: amounts due within one year 16
(1,339)
   
(1,434)
 
Net current assets     17,557     16,214
Net assets    
20,719
   
18,250
             
FUNDS 1, 17          
             
Unrestricted funds            
General fund     19,542     16,250
Designated fund – Stage piano fund     150     -
Designated fund – CLAN donation fund     -     1,000
             
Restricted income funds            
Iain Fraser Award prize fund     5     -
             
Endowed funds            
Iain Fraser Award endowment fund     1,022     1,000
             
Total funds    
20,719
   
18,250

The notes on pages 15 to 22 form part of these financial statements.

Approved by the committee and signed for and on their behalf

 

G Henderson, President

29 April 2012


 
 
 
 

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.

Fixed assets, 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.

Assets which costs £100 or over are capitalised. 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:

  • String instruments, office & other equipment and trophies 10% per annum, reducing balance basis
  • Electronic instruments 10% per annum, straight line basis

Losses on disposal of fixed assets and reductions in the net book value of impaired fixed assets are treated as additional depreciation charges, which are reported within the appropriate resources expended section of the Statement of Financial Activities.

Investments

Investments are included at market value at the balance sheet date.

All gains and losses on investments are reflected in the Statement of Financial Activities as they arise and are not separated between realised and unrealised gains and losses.

Realised gains and losses on investments are the aggregate of the difference between sale proceeds and opening market value (or cost if purchased during the year). Unrealised gains and losses represent the movement in market value during the year.

Stocks

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

Funds: Unrestricted, endowment and restricted income

Unrestricted funds consists of the general 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 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.
  • Investment income – bank interest is recognised as it is earned and dividends when the investment is quoted ex-dividend. 
  • 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, introductory taster session for member recruitment 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.
  • Investment management costs of common investments funds are deducted directly from the capital (80%) and income (20%) of the fund and are therefore not separately disclosed, as permitted by the Charities SORP.

Taxation

The Society is recognised as a charity by HM Revenue & Customs and therefore benefits from certain exemptions from taxation on income and gains, to the extent they are applied for charitable purposes. No tax charges have arisen in the Society. 

 

Notes - Continued 1

2. Donations

General fund: 2012
£
2011
£
Non-commercial concert donations 585 495
Other donations 3,500 23
Value of Gifts in kind and donated goods or services 126 35
 
4,211
553

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 fund: 2012
£
2011
£
Cost for generating funds – Scottish Music Evening Raffle (see note 3) - 35
Governance costs - subscriptions (see note 9) 126 -
 
126
35

3. Activities and costs for generating funds 

    2012     2011  
General fund: Income
£
Costs
£
Net
£
Income
£
Costs
£
Net
£
Scottish Music Evening Raffle - - - 165 (88) 77
Easyfundraising.org.uk 118 - 118 63 - 63
CD, Tape & other items 187 (162) 25 299 (183) 116
 
305
(162)
143
527
(271)
256

4. Investment income 

    2012     2011  
  General fund
£
Endowed fund
£

Total
£
General fund
£
Endowed fund
£

Total
£
Interest income 214 - 214 174 20 194
Dividends from UK investments - 35 35 - - -
 
214
35
249
174
20
194

5. Concerts and competitions

    2012     2011  
General fund: Income
£
Costs
£
Net
£
Income
£
Costs
£
Net
£
Music Hall Fiddlers Rally 800 (99) 701 800 (45) 755
Fiddlers' Spectacular 200 (20) 180 - - -
Reel & Rowie Coffee Morning 212 (256) (44) - - -
Scottish Music Evening - - - 950 (957) (7)
Other commercial events 300 - 300 750 - 750
Society annual competition - (109) (109) - (134) (134)
Indirect concert costs & workshops - (138) (138) - (289) (289)
Trophy & instrument depreciation - (234) (234) - (110) (110)
Total general fund
1,512
(856)
656
2,500
(1,535)
965
             
Restricted income funds:            
Iain Fraser Prize - (30) (30) - (21) (21)
             
Total of all funds
1,512
(886)
626
2,500
(1,556)
944

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.    

6. Social events

    2012     2011  
General fund: Income
£
Costs
£
Net
£
Income
£
Costs
£
Net
£
Race Night 472 (455) 17 - - -
Christmas ceilidh party 320 (414) (94) 248 (387) (139)
 
792
(869)
(77)
248
(387)
(139)

7. Admin and other costs

General fund: 2012
£
2011
£
Insurance 87 86
Stationery, subscriptions, web site 350 313
Advertising & public notices 97 97
Committee expenses (see note 10) - 78
Gifts to Society members and others 74 44
Office equipment depreciation (see note 12) 20 141
 
628
759

8. Donations expenditure

Designated funds: 2012
£
2011
£
CLAN (Cancer Link Aberdeen & North)
1,000
-

9. Governance costs

General fund: 2012
£
2011
£
Stationery & postage 32 30
Independent Examiner Fee 180 180
Independent Examiner Gift - 2010 Report - 40
Rent for meetings 43 32
Subscriptions (see note 2) 126 -
Committee expenses (see note 10) 295 78
 
676
360

10. Committee expenses and benefits


Expenses allocated to:
    2012
£
2011
£
Charitable activities - Admin & other costs     - 78
Charitable activities - Concert & competition costs     26 60
Governance     295 78
     
321 
216

During the period one committee member received reimbursement of expenses (2011: three committee members received expenses) to cover:

  • communications, stationery and other costs of fulfilling committee roles from home as no office accommodation is provided by the Society; and
  • travel costs for attending the ICAEW Charities Online Financial Reporting Awards ceremony (applies to current year only)

No committee members received any remuneration in the year (2011: none), nor were they paid any expenses for attending committee meetings.

Related party transactions

During the year ended 28 February 2012 Graham Reid was presented with a gift (value £55) in recognition of his 25 years service as conductor. This is included within Gifts to members and others in note 7.

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

11. Employees

There were no employees during the year (2011: none).

Notes - Continued 2

12. Tangible fixed assets

 
Instruments
£
Office & Other
Equipment

£

Trophies
£

Total
£
Cost        
At beginning of year 1,702 50 530 2,282
Additions 1,191 167 - 1,358
At end of year
2,893
217
530
3,640
         
Depreciation        
At beginning of year 863 10 373 1,246
Charge for year 218 20 16 254
At end of year
1,081
30
389
1,500
         
Net book value        
At 28 February 2012
1,812
187
141
2,140
         
At 28 February 2011
839
40
157
1,036

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.

13. Investments

  2012
£
2011
£
Market value at beginning of year 1,000 1,000
Net change in deposit account balances (1,000) -
Add: Investment purchases at cost 1,000 -
Add: Net gain on revaluation 22 -
Market value at end of year
1,022
1,000
     
Represented by:    
Listed securities: UK Common Investment Funds 1,022 -
Deposit account balances - 1,000
 
1,022
1,000
Historic cost of investments 1,000 1,000

Included in the portfolio are the following individual investments which represent more than 5% by value of the total investment fund:

  2012 
£
2011
£
Sarasin Alpha CIF for Income & Reserves 1,022 -
Deposit account balances - 1,000

14. Stock

  2012 
£
2011
£
Finished goods:
 CDs, Tapes, Anniversary Books
2,154 2,311
 T Shirts and Ties 141 142
 
2,295
2,453

15. Debtors

  2012
£
2011
£
Gift Aid recoverable 60 123
Other debtors and prepayments 486 445
 
546
568

16. Creditors: amounts due within one year

  2012 
£
2011
£
Trade creditors 202 269
Deferred income 155 -
Accruals and other creditors 982 1,165
 
1,339
1,434

17. Total funds  

Funds Opening balance
£
Incoming Resources
£
Resources Expended
£

Transfers
£
Gains/ Losses
£
Closing balance
£
Unrestricted:            
General fund 16,250 8,235 (4,793) (150) - 19,542
Designated funds:            
 Stage piano fund - - - 150 - 150
 CLAN Donation 1,000  - (1,000) - - -
             
Restricted:
Iain Fraser Award prize fund
- 35 (30) - - 5
             
Endowed:
Iain Fraser Award endowment fund
1,000 - - - 22 1,022
             
Total all funds
18,250
8,270
(5,823)
-
22
20,719

The Stage piano fund is a designated fund established in the year ended 28 February 2012 with the target of increasing the fund at a rate of £150/year over 10 years, plus associated interest earned, in order to cover the replacement of the current stage piano at the end of its anticipated life.

The CLAN donation fund is a designated fund established in the year ended 28 February 2011 in relation to the £1,000 donation to CLAN agreed at the AGM in May 2010. The donation was presented in March 2011 and the fund closed.

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. 

18. Analysis of net assets by fund

  Unrestricted funds: Restricted
income
funds
£
Endowed
funds
£
Total
£
General
fund
£
Designated
funds
£
Tangible fixed assets 2,140 - - - 2,140
Investments (fixed assets) - - - 1,022 1,022
Net current assets 17,402 150 5 - 17,557
 
19,542
150
5
1,022
20,719

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 2012

The online html 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.

AttachmentSize
Asrs accounts 2012 dated web version.pdf514.26 KB

Annual report 2011

ICAEW Charities Online Financial Report Awards 2012 Winner SealOur 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.

As there are no physical space constraints the html version includes some additional charts which are not in the original PDF version. These charts all rely on numeric data that is published in both versions.

Browser compatability: Internet Explorer 6 does not support all the interactive chart functionality.

We haven't changed any text for the html version so the page number references will only be correct if you use the PDF print version. However, we have converted the page numbers to hyperlinks so that you can navigate to the correct place.

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.

Who runs the Society | Why we're here | What we've achieved | What we're planning | Finances | Examiners Report

The committee present their report for the year ended 28 February 2011.

The members of the committee during the year were:

Office bearers

  resigned 31 May 2010: appointed 31 May 2010:
President Graeme Henderson Graeme Henderson
Vice President Karen Gill Karen Gill
Secretary Karen Gill Karen Gill
Assistant Secretary vacant position Moira Mapley
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 Nick Cowling
Leader Kim Beveridge Kim Beveridge

Other committee members

No change: resigned 31 May 2010: appointed 31 May 2010:
K Falconer David Jones Laura McCracken
Emma MacPherson Laura McCracken Christine Marshall
Karen Steed Brian Priestley Neil MacNeil

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.

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

A Dreelan
S Bruce
S Reid
S Reid
Accordion: Open age - Kenny Young Quaich N MacNeil
Violin, accordion or piano: Under 23 - Iain Fraser Award & Trophy S Bruce
Ensemble: Open age - Dave Beaton Trophy No Entries
Original composition: Open age - Caithness Bowl E Donald

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 M Donald on 31 May 2010.

Applications for new membership are actively encouraged, 7 new member applications were approved during the financial year. 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 50
Junior members (members under the age of 16 at the start of a session)* £10 6
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. 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

Picture of Conductor Graham Reid in kilt with tartan bow tieConductor Graham Reid at the Lemon Tree April 2010

Once more the Society's orchestras have had a full programme of 17 performances 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:

  • Another full house for the Society's annual concert at the Lemon Tree in April 2010. The concert was well received and the event cleared a small surplus when including the raffle and CD sales;
  • Fiddler Karen MacDonald hosted a fiddle workshop for orchestra members in May 2010;
  • 15 orchestra members plus a few accompanying family members travelled to Shetland in October 2010 to participate in the 23rd annual Shetland Accordion and Fiddle Festival. The festival is one of the largest of its kind in Scotland and brings together both local artists and visiting guests with a shared love of traditional Scottish music. As well as concerts, which included a performance by the members at the Festival Club, there are ceilidhs and numerous informal sessions in Lerwick and beyond;
  • Orchestra members entertained visitors to the Taste of Grampian food festival in June 2010;
  • In August 2010 we were once again invited to appear as part of Aberdeen's Tartan Day Festival;
  • The Society, along with guests from other societies, undertook their annual Fiddlers Rally at Aberdeen Music Hall in November 2010. Guests were singer Shona Donaldson and local fiddler Paul Anderson;
  • Person dressed as snowman in front of members of the orchestraMembers performed at Aberdeen's Winter Festival in December 2010

    As part of Aberdeen City's Winter Festival which ran from late November 2010, small groups from the Society entertained shoppers at some of the main shopping centres in Aberdeen. Unfortunately, due to the bad weather in late November our participation in the St Andrews Days celebration was cancelled.

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

Other events

At the AGM in May 2010 the Society presented a tune composed by Nick Cowling to Kenny Young in recognition of the significant contribution Kenny has made to the Society over the years. Kenny is both a Life Member of the Society and an Honorary Vice President, having served on the committee several times, including twice in the role of President. Called the “Balmoral Sound March” the tune was named after the Scottish dance band Kenny performed with. The Fiddlers' Rally in November 2010 saw the inaugural performance of the tune, which will also feature in the forthcoming Fiddlers' Spectacular.

In September 2010 we returned to our existing rehearsal premises of Cornhill Primary and Community Education Centre, albeit with a significant increase in rent, following revisions to the lettings of education premises by Aberdeen Council. However, there was a delay in let confirmation which meant there was not enough time to organise a taster session in advance of the start of the September session, though fortunately the concert session did start on time. In light of ongoing council budget cuts we expect further above inflation increases in our rent costs.

The committee were saddened by the news that the Society's Honorary President John Mason MBE passed away in January 2011. John Mason was highly influential in the promotion of traditional Scottish music as a composer, as well as being the Founder and Musical Director of the Scottish Fiddle Orchestra. John composed several tunes to commemorate significant anniversaries of the Society. These include “Home to Bon Accord”, “The Strings of Bon Accord”, “The Heart of Bon Accord” and “The Roses of Bon Accord” all for our Golden Jubilee. For our 60th anniversary he composed “The Diamond Jubilee” and for our 75th anniversary “Hail to Bon Accord”.

The Society continues to be a member of Making Music, a charity which provides information, support and other services to voluntary music groups, including arranging the Society's block insurance cover. The Arts Council England announced in March 2011 substantial reductions in grants to various organisations it funds, including Making Music's 2012-15 funding application. Whilst the full implications of the cut are still being evaluated it is likely that there will be an impact, either through increased costs or reduced services.

On the social front the Christmas Party evening returned to the Cloverleaf Hotel for an enjoyable night.

Fiddlers Spectacular poster - picture of violin in background with Caledon on stage in foregroundFiddlers' Spectacular at His Majesty's Theatre May 2011

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

Final rehearsals and preparations are underway in relation to the Fiddlers' Spectacular at Aberdeen His Majesty's Theatre which runs from 5-7 May 2011. A joint production with Banchory Strathspey & Reel Society the guests include Scotland's Three Tenors “Caledon”, comedian and broadcaster Fred MacAulay, Bucksburn & District Pipe Band and award winning accordionist Craig Paton.

The Fiddlers' Rally at Aberdeen Music Hall, which the Society hosts, has been confirmed for Saturday 12 November 2011.

Finances, Investment and Reserves Policy

Finances

The attached financial statements show the current state of the finances of the Society. The highlights are:

  • a total deficit for the year of £829 (2010: total deficit of £1,144);
  • Scottish Widows Bank was added to the agreed list of deposit account providers following reductions in deposit interest rates by Standard Life Bank;
  • the committee began the process of reviewing its investment policy, particularly in relation to endowment funds and options for improving the investment income returns;
  • £1,000 has been set aside as a designated fund for a donation to CLAN which was agreed at the May 2010 AGM;
  • the general fund has net cash resources1 at 28 February 2011 of £12,761;

Summary of income and expenditure info symbol

 
 

Hover the cursor over a category to display the related annual report explanation.

 

Significant changes in income less expenditure: £
Net deficit for year to 28 February 2010 (1,144)
Reduction in donations expenditure +1,000
Reduction in subsidy on Tours & Trips +452
Increase in Rehearsal premises expenditure (235)
Reduction in Interest income (214)
Increase in Governance costs (192)
Net impact of other changes to income and expenditure (496)
Net deficit for year to 28 February 2011 (829)

The committee is comfortable with the level of the total deficit incurred during the year, including the deficit of £1,829 incurred on the general funds after transfers to designated and restricted funds.

The results reflect the committee's ongoing aim of reducing the level of reserves held by the Society towards the target amount of £7,500 as detailed in the reserves policy section of this report.

The results for the year include discretionary expenditure of £1,052 in relation to the subsidy of the orchestra trip to Shetland in October 2010 and the discretionary designation of funds for the £1,000 donation to CLAN. The committee consider the recurring income and expenditure of the Society to be broadly balanced.

Analysis of income categories which have corresponding expenditure

 
 
 

Concert income for the year has decreased mainly as a consequence of differences in the number of smaller commercial concerts undertaken during the year. Concert & competition expenditure was also lower, primarily as no taster sessions were organised during the year, compared to two taster sessions in the previous year. The surplus from concert & competition activities was £43 higher than the previous year.

Income and expenditure from Tours and trips has varied due to differences in the numbers of members and guests travelling to the Shetland Festival this year compared to last year, as well as the reduced level of member subsidy by the Society. The deficit for Tours and trips was £452 lower this year.

Fundraising income has decreased, largely relating to lower sales of the Society's three CDs. The amount raised via Easyfundraising was also lower this period reflecting members' shopping activity. Fundraising expenditure had decreased reflecting the lower level of CD sales achieved in the year and level of stock provisions. The net surplus from fundraising activities was £103 lower than last year.

Fewer people attended the Christmas Ceilidh in December 2010 compared to the previous year resulting in lower income and expenditure for Social events.

Analysis of income categories which don't have corresponding expenditure

 

Analysis of expenditure categories which don't have corresponding income

 
 

Non-commercial concert donations were £95 lower in the current year, reflecting a small reduction in the number of performances undertaken, with a reduction in other donations as well as last year included the estimated value of donated office equipment.

Interest income is £102 lower as a result of the previous fall in interest rates, with further reductions in rates on both deposit and fixed term accounts in the current year as well. In addition our bank balances have been lower through the year compared to last year.

Rehearsal premises costs are £235 higher as a consequence of the increased rent costs charged by Aberdeen City Council.

A donation of £1,000 to CLAN (Cancer Link Aberdeen & North), an Aberdeen based cancer support charity, was proposed and agreed at the AGM in May 2010. It was not presented until after the end of the accounting year. This has been recorded as a designated fund at the year end and resulted in nil donation expenditure for the year. Last year the Society donated £1,000 to the Archie Foundation.

Admin and other costs are £228 higher, primarily due to additional depreciation charges on the photocopier which the committee agreed to dispose of during the year because of its very high cost of toner cartridges plus the cost of advertising the new concert session in September 2010.

Governance costs are £192 higher, primarily as the Society has appointed a firm of chartered accountants, who are providing their services at cost, to act as its independent examiner. Previously we had benefited from examiners providing their services on a voluntary basis. However, it has been more difficult to find willing volunteers who had the required time, qualifications and knowledge of charity accounts and reporting.

Balance sheet items

 

The net cash resources of the general funds is £12,761, a reduction of £1,441 compared to last year. This reflects the general funds deficit for the year of £1,829 after adjusting for non-cash items, such as depreciation charges, as well as changes in other current assets and current liabilities.

The existing £4,000 of fixed rate bonds matured and the committee agreed to reinvest some of the balance in further fixed rate bonds. However, as the interest differential to instant access deposit accounts was marginal only £2,000 was reinvested. As a result there has been an increase in the balances of Cash at bank and in hand compared to last year, with an offsetting reduction in fixed term deposit balances.

Contributions from volunteers

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

Investments

The investment policy applicable during the reporting year was as follows:

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.

Given the low interest rates on fixed rate bonds that the Society has been able to achieve on its endowed fund investments the committee began the process of reviewing and updating its investment policy. Following the maturity in January 2011 of the latest fixed rate bonds held by the endowed funds, and pending final approval of a revised investment policy, the funds were held in an instant access deposit account.

A revised investment policy was approved by the committee in March 2011 as follows:

Short to medium term funds are likely to be spent within the next five years. The funds will be invested in high interest deposit accounts which may be of a fixed term nature. The aim of such investments is to achieve the best available income returns, whilst minimising risk to capital and ensuring the cashflow requirements of the Society are met.

Long term funds, including the endowment funds, are not required to be spent within the next five years. They will be invested in collective investment schemes which seek income and long-term capital growth from a broadly diversified portfolio of assets including equities and fixed interest securities.

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 £7,500.

This is considered sufficient to cover:

  • two years’ costs of rehearsal premises and administration costs - approximately £2,500 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 £12,761 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:

  • purchase of a new portable digital stage piano for use in performances with an estimated cost of £1,000;
  • other concert events in which the Society may participate, so funds may be specifically designated;
  • arranging for external experts to provide Scottish music skills workshops to the orchestras.

A designated fund of £1,000 in relation to the donation to CLAN agreed at the May 2010 AGM was established during the year. The donation was presented in March 2011.

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.

Other reference and admin details

The Society’s bankers are:

Current Accounts:

CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ
Bank of Scotland, 54 John Street, Aberdeen, AB25 1LL

Deposit Accounts:

Scottish Widows Bank, 67 Morrison Street, Edinburgh, EH3 8YJ
Standard Life Bank, Cash Savings Department, PO Box 23966, Edinburgh, EH3 1BF

The Independent Examiner is:

Graeme Reid, Williamson & Dunn Chartered Accountants
3 West Craibstone Street, Bon-Accord Square, Aberdeen, AB11 6YW

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.

Approved by the committee and signed for and on their behalf by:

K Gill, Secretary
5 May 2011

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.


Footnote 1: Calculated as cash and bank balances after adding debtors balances and deducting creditors balances.

 

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 2011 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.

Graeme Reid, CA
5 May 2011

Williamson & Dunn Chartered Accountants
3 West Craibstone Street
Bon-Accord Square
Aberdeen
AB11 6YW 

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 2011

Notes Unrestricted funds:
Restricted income funds
£
Endowed
Funds
£
2011
Total
£
2010
Total
£
General
purpose
£
Designated funds
£
Incoming resources info
 
 
 
 
 
 
 
Incoming resources from generated funds:
 
 
 
 
 
 
 
Voluntary income:
 
 
 
 
 
 
 
- Donations info
2
553
-
-
-
553
680
- Members’ subscriptions
 
1,040
-
-
-
1,040
1,056
Activities for generating funds info
3
527
-
-
-
527
724
Investment income (interest) info
 
174
-
20
-
194
408
 
 
 
 
 
 
 
 
Incoming resources from charitable activities: info
 
 
 
 
 
 
 
Concerts info
4
2,500
-
-
-
2,500
3,088
Tours & trips info
 
3,990
-
-
-
3,990
2,752
Social events info
5
248
-
-
-
248
350
Total incoming resources
 
9,032 
20
-
9,052
9,058 
 
 
 
 
 
 
 
 
Resources expendedinfo
 
 
 
 
 
 
 
Costs of generating funds:
 
 
 
 
 
 
 
Fundraising trading: costs of
goods sold and other costs info
3
(271)
-
-
-
(271)
(365)
 
 
 
 
 
 
 
 
Charitable activitiesinfo
 
 
 
 
 
 
 
Rehearsal premises info
 
(1,510)
-
-
-
(1,510)
(1,275)
Concert and competition costs info
4
(1,535)
-
(21)
-
(1,556)
(2,187)
Tours & trips info
 
(5,038)
-
-
-
(5,038)
(4,252)
Social events info
5
(387)
-
-
-
(387)
(424)
Admin and other costs info
6
(759)
-
-
-
(759)
(531)
Donations expenditure info
7
-
-
-
-
-
(1,000)
Charitable activities total
 
(9,229)
-
(21)
-
(9,250)
(9,669)
 
 
 
 
 
 
 
 
Governance costs info
8
(360)
-
-
-
(360)
(168)
Total resources expended
 
(9,860)
-
(21)
-
(9,881)
(10,202)
 
 
 
 
 
 
 
 
Net incoming/(outgoing) resources before transfers
 
(828)
- (1)
-
(829)
(1,144)
Gross transfers between funds info
 
(1,001)
1,000
1
-
-
-
Net movement in funds info
 
(1,829)
1,000
-
-
(829)
(1,144)
 
 
 
 
 
 
 
 
Fund balances brought forward
 
18,079
-
-
1,000
19,079
20,223
Fund balances carried forward
16,250
1,000
-
1,000
18,250
19,079 

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


 

Hover the cursor over a category to display the related annual report explanation.

   

Balance Sheet

at 28 February 2011

    2011   2010
  Notes £ £   £ £
Fixed assets            
Tangible fixed assets 11   1,036     1.287
Investments info 12  
1,000
   
1,000
Total fixed assets     2,036     2,287
             
Current assets            
Stock 13 2,453     2,590  
Debtors 14 568     1,174  
Fixed term deposits (maturing within one year) info   2,000     4,000  
Cash at bank and in hand  
12,627
   
10,132
 
Total current assets   17,648     17,896  
Creditors: amounts due within one year 15
(1,434)
   
(1,104)
 
Net current assets     16,214     16,792
Net assets    
18,250
   
19,079
             
FUNDS 1, 16          
             
Unrestricted income funds            
General purposes fund     16,250     18,079
Designated fund – Shetland Trip 2009     -     -
Designated fund – CLAN Donation     1,000     -
             
Restricted income funds            
Iain Fraser Award prize fund     -     -
             
Endowed funds            
Iain Fraser Award endowment fund     1,000     1,000
             
Total funds    
18,250
   
19,079

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

5 May 2011

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

Losses on disposal of fixed assets and reductions in the net book value of impaired fixed assets are treated as additional depreciation charges, which are reported within the appropriate resources expended section 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.

Funds: 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 recognised as a charity by HM Revenue & Customs and therefore benefits from certain exemptions from taxation on income and gains, to the extent they are applied for charitable purposes. No tax charges have arisen in the Society.

Notes - Continued 1

2. Donations

General purposes fund: 2011
£
2010
£
Non-commercial concert donations 495 590
Other donations 23 5
Value of Gifts in kind and donated goods or services 35 85
 
553
680

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: 2011
£
2010
£
Cost for generating funds – Scottish Music Evening Raffle (note 3) 35 35
Fixed assets – Office equipment - 50
 
35
85

3. Activities and costs for generating funds 

General purposes fund:   2011     2010  
  Income
£
Costs
£
Net
£
Income
£
Costs
£
Net
£
Scottish Music Evening Raffle 165 (88) 77 132 (92) 40
Easyfundraising.org.uk 63 - 63 96 - 96
CD, Tape & other items 299 (183) 116 496 (273) 223
 
527
(271)
256
724
(365)
359

4. Concerts and competitions

General purposes fund:   2011     2010  
  Income
£
Costs
£
Net
£
Income
£
Costs
£
Net
£
Music Hall Fiddlers Rally 800 (45) 755 800 (364) 436
Scottish Music Evening 950 (957) (11) 988 (999) (11)
Other commercial events 750 - 750 1,300 (3) 1,297
Society annual competition - (134) (134) - (107) (107)
Taster sessions - - - - (273) (273)
Indirect concert costs & workshops - (289) (289) - (280) (280)
Trophy & instrument depreciation - (110) (110) - (124) (124)
Total general purposes fund
2,500
(1,535)
965
3,088
(2,150)
938
             
Restricted income funds:            
Iain Fraser Prize - (21) (21) - (37) (37)
             
Total of all funds
2,500
(1,556)
944
3,088
(2,187)
901

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:   2011     2010  
  Income
£
Costs
£
Net
£
Income
£
Costs
£
Net
£
Christmas ceilidh party
248
(387)
(139)
350
(424)
(74)

6. Admin and other costs

General purposes fund: 2011
£
2010
£
Insurance 86 86
Stationery, subscriptions, web site 313 347
Advertising & public notices 97 -
Committee expenses (see note 9) 78 78
Gifts to Society members and others 44 -
Office equipment depreciation (see note 11) 141 20
 
759
531

7. Donations expenditure

General purposes fund: 2011
£
2010
£
Archie Foundation
-
1,000

8. Governance costs

General purposes fund: 2011
£
2010
£
Stationery & postage 30 19
Gift to Independent Examiner (2010 Report) 40 40
Independent Examiner Fee (2011 Report) 180 -
Rent for meetings 32 31
Committee expenses (see note 9) 78 78
 
360
168

9. Committee expenses and benefits


Expenses allocated to:
    2011
£
2010
£
Charitable activities     78 78
Charitable activities – Concert & competition costs     60 -
Governance     78 70
     
216 
148

During the period three 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 (2010: two committee members received expenses). No committee members received any remuneration in the year (2010: none), nor were they paid any expenses for attending committee meetings.

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 (2010: none).

Notes - Continued 2

11. Tangible fixed assets

 
Instruments
£
Office
Equipment

£

Trophies
£

Total
£
Cost        
At beginning of year 1,702 400 530 2,632
Less Disposals - (350) - (350)
At end of year
1,702
50
530
2,282
         
Depreciation        
At beginning of year 771 219 355 1,345
Charge for year 92 141 18 251
Less disposals - (350) - (350)
At end of year
863
10
373
1,246
         
Net book value        
At 28 February 2011
839
40
157
1,036
         
At 28 February 2010
931
181
175
1,287

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
£
Deposit Account
£
Cost and market value    
At beginning of year 1,000 -
Investment matured to deposit account (1,000) 1,000
At end of year info
-
1,000

13. Stock

  2011
£
2010
£
Finished goods: CDs, Tapes, Anniversary Books 2,311 2,447
T Shirts and Ties 142 143
 
2,453
2,590

14. Debtors

  2011
£
2010
£
Trade debtors - 150
Gift Aid recoverable 123 63
Other debtors and prepayments 445 961
 
568
1,174

15. Creditors: amounts due within one year

  2011
£
2010
£
Trade creditors 269 26
Deferred income - 90
Accruals and other creditors 1,165 988
 
1,434
1,104

16. Total funds  

In the year ended 28 February 2011 the committee established a designated fund for £1,000 in relation to the donation to CLAN that was agreed at the AGM in May 2010.

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.

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 18,079 9,032 (9,860) (1,001) 16,250
Designated funds:          
 Shetland Trip 2009 - - - - -
 CLAN Donation - - 1,000 1,000
           
Restricted:          
Iain Fraser Award prize fund - 20 (21) 1 -
           
Endowed: Iain Fraser Award endowment fund 1,000 - - - 1,000
           
Total all funds
19,079
9,052
(9,881)
-
18,250

17. Analysis of net assets by fund

  Unrestricted funds:    
  General
purposes
fund
£

Designated
funds
£
Restricted
income
funds
£

Endowed
funds
£

    Total
£

Tangible fixed assets 1,036 - - - 1,036
Investments (fixed assets) - - - 1,000 1,000
Net current assets 15,214 1,000 - - 16,214
 
16,250
1,000
-
1,000
18,250

18. 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 2011

The online html 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.

AttachmentSize
Asrs accounts 2011 web final.pdf1.28 MB

Annual report 2010

ICAEW Charities Online Financial Reporting Award Winner 2011

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.

We haven't changed any text for the html version so the page references will only be correct if you use the PDF print version. However, we have converted the page numbers to hyperlinks so that you can navigate to the correct place.

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.

AttachmentSize
2010 Annual report and accounts web version416.13 KB

Annual report 2009

The online version of our annual report and financial statements contains exactly the same words and numbers as the print version, but with some additional functionality in terms of hyperlinks and help tipsinfo symbol. You need javascript enabled in your browser to take advantage of this feature, hover the mouse cursor over the i symbol.

As we haven't changed anything, the page references will only be correct for print purposes if you use the PDF version. However, we have converted the page numbers to hyperlinks so that you can navigate to the correct place.

The committee present their report for the 11 month period ended 28 February 2009.

The members of the committee during the year were:

Office bearers




 
resigned 26 May 2008:
appointed 26 May 2008:
President
Graeme Henderson
Graeme Henderson
Vice President
Karen Gill
Karen Gill
Secretary
Karen Gill
Karen Gill
Assistant Secretary
Fiona McBride
vacant position
Treasurer
Ross Fowler
Ross Fowler
Conductor
Graham Reid
Graham Reid
Deputy conductor
Nicholas Cowling
Gordon Pirie
Assistant conductor
Sheila Reid
Sheila Reid
Pianist
Nicholas Cowling
Neil MacNeil
Leader
Kim Beveridge
Kim Beveridge

 

Other committee members




No change:
resigned 26 May 2008:
appointed 26 May 2008:
Donald Alexander
Mike Cruse
David Jones
Karen Steed
David Jones
Laura McCracken
 
Brian Priestley
Emma MacPherson (for 1 year)
 
 
Brian Priestley

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 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 and is a registered Scottish Charity number SC011924.

Correspondence should be addressed to the Secretary, 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 and rules which were last amended on 26 May 2008. The Society is established to form and maintain orchestras for promoting the practice and performance of primarily Scottish Music in order that:

  • 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
  • the playing of traditional music shall likewise be preserved and encouraged.
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.
 
Category
Awarded on 26 May 2008 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
C Marshall
L McCracken
G Pirie
Accordion: Open age - Kenny Young Quaich
N MacNeil
Violin, accordion or piano: Under 23 - Iain Fraser Award & Trophy
N MacNeil
Ensemble: Open age - Dave Beaton Trophy
C Moore, M Morrison
Original composition: Open age - Caithness Bowl
E Donald
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 J Campbell on 26 May 2008.
 
Applications for new membership are actively encouraged. Five new members joined during the financial period. Annual subscriptions are set by the membership at the AGM.
 
There are five categories of membership of the Society. The current subscription levels are as follows.
 
Category
Annual Subscription
Honorary members
£nil
Life members (who have been members for at least 25 years)
£nil
Ordinary members (discounted by 50% if in receipt of a state pension)
£20
Junior members (members under the age of 16 at start of a session)
£10
Non playing members
£10
 
The committee considers 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.
 

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 is anticipated to at least break-even and that prices are comparable with 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. From benchmarking of other music groups that are members of Making Music 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;
  • 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 20 concerts throughout the period 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:
  • The return of the Fiddlers' Spectacular to His Majesty's Theatre in April 2008 for a four show run. Held jointly with Banchory Strathspey & Reel Society this was the first time that a Spectacular had been staged since HMT was refurbished. The show featured special guests Caledon - “Scotland's Three Tenors” and local comedy group The Flying Pigs. Ticket sales, press reviews and audience feedback were all excellent and the event has contributed significantly to the overall results for the financial period.
  • The Society won the Orchestra competition category at the Banchory Festival of Scottish Music in May 2008.
  • 15 orchestra members of the Society travelled to Stavanger for a long weekend in June 2008 to perform in public areas of the city as part of the European City of Culture events. We also held a joint concert with Veba Spelemannslag, a local Stavanger Hardanger (traditional Norwegian music) group. We are grateful to Aberdeen City Council for their grant assistance with the trip as Stavanger is one of Aberdeen's twin towns.
  • In August 2008 we were once again invited to appear as part of Aberdeen's Tartan Day Festival and undertook open air concerts at two locations in the town centre, including the main stage in Union Terrace Gardens.
  • The Society, along with guests from other societies, undertook their annual Fiddlers Rally at Aberdeen Music Hall in November 2008. Duncan Chisholm as well as Mike and Ali Vass were the guest artists. Audience numbers were disappointing compared to previous years where the Rally has sold out the Music Hall. The Society will continue to work closely with the event promoter, Aberdeen Performing Arts, to ensure improved audience numbers at future events. We are grateful to Mike and Ali Vass for the donation of a box of their CDs after the rally for issue to the junior members to inspire and encourage the playing of traditional music.
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 undertaking approximately 2 concerts per month, lead this session by Dave Beaton and Sandy Lumsden.

Fiddlers Spectacular Programme

Fiddlers Spectacular Programme

Conductor Graham Reid cuts his 21st anniversary celebration cake

Graham Reid celebrating his 21 years as conductor


 

Other events

At the AGM in May 2008 one of the Society's life members, G Elphinstone, was presented with a commemorative plate in recognition of his 50 years of membership. At the first rehearsal of the new concert session in September 2008 Graham Reid was presented with a small gift in recognition of his 21 years of service to the Society as conductor. As was noted in the presentation speech the Society would be lost without Graham's time, energy and commitment. Although we don't expect Graham to serve another 21 years we hope that he is not going to hang up his baton any time soon.

 
Before the term “credit crunch” had fully entered everyday vocabulary, Aberdeen City Council was already facing its own budget problems. One of the cost saving strategies adopted was to reduce the number of schools available for out of hours lets. Across Aberdeen groups with lets at primary schools were reassigned to secondary schools in September 2008. Like all those involved, the Society was given only two weeks notice of the change and had little choice but to accept the alternative accommodation that was offered.

 
However, the new accommodation proved unsuitable to the needs of the Society – in particular the unavailability of pianos and lack of additional rooms for rehearsing groups separately. A number of alternative venues were investigated, whilst we worked closely with the council to identify more suitable accommodation.

 
A new venue was finally identified by the council and the Society switched to its third premises for the current concert session at the beginning of February 2009. We hope to remain at Cornhill Community Centre/Primary School for the forseeable future.

 
In addition to the move in premises, the council have increased their rental charges by approximately 20%. This was not surprising due to budget constraints and recent increases in energy costs. The Society continues to benefit from its not for profit status by receiving a discount against the full council rental charges of 75% for the junior orchestras and a 50% discount for the senior orchestra.

 
On the social front the Christmas Party evening returned to the Cloverleaf Hotel for an enjoyable night.

 
The Society continues 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). In January 2009 two members of the committee met with representatives of other Making Music groups from the Aberdeen and Aberdeenshire areas. Various issues common to the groups were discussed as was the possibility of setting up an Aberdeen/Shire Making Music Cluster – an informal grouping where ideas and issues can be shared and discussed. We look forward to continuing to participate in the cluster.

 
One of the issues discussed at the cluster meeting was that of attracting new members. This was an issue that the committee had already been actively considering. Based on ideas that the committee already had and suggestions from the cluster meeting the Society organised a free drop in or “taster” session for potential new members in February 2009.

 
Although players new to the Society are always welcome at weekly rehearsals, it was considered that an informal introductory session for new recruits with an opportunity to both play some tunes at a leisurely pace and ask questions would be less overwhelming. As a direct consequence of the event four new players have started attending the senior orchestra.

 
The committee is currently considering organising further taster session events, including those aimed specifically at the junior orchestras.

 
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

Looking forward to the forthcoming year the orchestras are busy preparing for the Society's annual concert a “Scottish Music Evening” which is being held at The Lemon Tree on 26 April 2009. The event marks a number of firsts for the Society - the first time that we have performed our annual concert at The Lemon Tree, performing on a Sunday rather than a Saturday and an earlier start time of 6.30pm. We will seek and review audience feedback to these changes.

 
Plans are also being finalised for an orchestra trip in October 2009 to Shetland to take part in the 22nd annual Shetland Accordion and Fiddle Festival, which will include performances by the Society. In March 2009 the committee designated £1,000 towards the costs of subsidising the travel arrangements for playing members.

Finances, investment and reserves policy

Finances

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

Total funds income analysis
Income Bar Chart

Total funds expenditure analysisExpenditure bar chart

 
Concert income and expenditure for the period has increased mainly as a consequence of the Society's share of the four Fiddlers' Spectacular shows in April 2008. The surplus from the Fiddlers' Spectacular of £2,822 is the largest contribution to the total surplus for the period. There was no equivalent event during the previous financial year, although the Society did hold its own concert at the Cowdray Hall and the Highland Hospice concert in Inverness.

 
Donations income has increased primarily as a result of one-off donations, including the estimated value of donations of musical instruments and other goods or services received. This has been offset by a reduction in Non-commercial concert donations due to the shorter accounting period as well as fewer bookings.

 
Grant income for the period includes funding from Aberdeen City Council for the orchestra trip to Stavanger in June 2008. There was no equivalent grant funding application last year.

 
Subscription income has increased due to the inclusion of Gift Aid recoverable on the membership element of the subscriptions and an increase in the number of members.

 
Fundraising income has decreased for a variety of reasons. A number of activities were undertaken during the year to 31 March 2008 to raise funds for the Stavanger trip in June 2008. There have been no corresponding events in the period just ended. In addition CD and tapes sales have been lower.

 
This has been offset by income from a free service offered by Easyfundraising.org.uk which donates sales commission from members internet shopping initiated via the easyfundraising site, as well as internet searches undertaken via a dedicated search engine website. Although fundraising expenditure had decreased overall, the cost of the CD and Tapes sales is higher for the period reflecting a reduction in value of the stocks as their age increases.

 
Interest income is higher as a result of increased cash balances throughout the year and the decision to invest in higher rate fixed term bonds during the period, offset by falling interest rates and the shorter accounting period.

 
Rehearsal premises costs are lower as there is one less month of rehearsals included due to the change in the accounting period, offset by an increase in rent charges from September 2008.

 
Income from Tours and trips is slightly higher due to the trip to Stavanger in June 2008, compared to the Inverness trip for the September 2007 Highland Hospice fundraising concert in the previous financial year.

 
Expenditure from Tours and trips is significantly higher due to the travel and accommodation costs of going to Stavanger compared to Inverness. In the year ended 31 March 2008 the committee had transferred from the general purposes fund an amount to cover the expected difference between the Stavanger trip income and expenditure. Subsequently two additional orchestra players elected to attend the Stavanger trip and the additional subsidy of travel and accommodation costs along with some additional local Stavanger costs resulted in a deficit for the period of £2,422, requiring an additional transfer from the general purposes fund of £625 to add to the funds brought forward, prior to closing the Stavanger Fund.

 
Admin and other costs are slightly higher, primarily as due to the cost of public notices advertising the change in rehearsal premises and additional committee expenses. The 2009 costs include the value of CDs donated by Mike & Ali Vass for issue to the juniors, there was a similar value in the previous period relating to copies issued to orchestra members of the Society's latest CD.

 
Instrument & trophies depreciation is higher due to two additional instruments donated during the period, offset by only 11 months of charges due to the shorter accounting period.

 
Balance sheet items
During the period in anticipation of further reductions in interest rates the committee invested surplus cash balances in Standard Life Bank fixed rate bonds with maturity dates of less than 1 year, resulting in current asset investments of £8,000 at 28 February 2009.

 
At 28 February 2009 there is a deferred income balance within creditors in relation to deposits received from orchestra members for the planned Shetland trip in October 2009.

 
There were a number of significant items within the balance sheet at 31 March 2008 relating to the Stavanger trip: trade creditors of £4,879 for travel costs already invoiced; other creditors included deferred income for payments already received from members; and within debtors was £5,771 prepayments for the trip which included the travel costs deposit already paid.

 
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.

 
Funds in deficit at the end of the period
The Iain Fraser Award Prize Fund had a small deficit of £3 at 28 February 2009. The prize is paid in advance of income earned from the related Endowment Fund. The funds are invested in fixed rate bonds to increase the certainty of the income generated, however the recent unprecedented size of decreases in the Bank of England base rate occurred before the maturity of the existing bond and reinvestment in another fixed rate bond resulting in lower interest income than was anticipated at the time the prize was paid. The deficit will be addressed by reducing the next prize payment.

 
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 £6,400.

 
This is considered sufficient to cover:
  • two years’ costs of rehearsal premises and administration costs - approximately £2,000 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 £900;
  • 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 £14,992 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:
  • funds of £1,000 designated for the forthcoming Shetland trip in October 2009;
  • 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;
  • arranging for external experts to provide Scottish music skills workshops to the orchestras; and
  • purchasing additional instruments to be provided on short term loan to new members interested in taking up Scottish music.
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
Dundas House
20 Brandon Street
Edinburgh
EH3 5PP

 

The Independent Examiner is L Craig, 18 School Lane, Drumoak, Banchory, AB31 5EA.

 
For and on behalf of the committee

 
K Gill, Secretary
30 April 2009

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 (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis). 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;
  • state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed in the financial statements; and
  • 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 applicable law and regulations. 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 2009 which are set out on pages 10 to 18.

Respective responsibilities of trustees and examiner
As outlined on page 8 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.

L Craig, a member of the The Chartered Institute Of Management Accountants 
18 School Lane, Drumoak, Banchory, AB31 5EA 

5 May 2009

Please note the independent examiner's report that is reproduced online relates to the review of the PDF version of the accounts. With the exception of additional help tips and hypertext links, the online version is exactly the same as the PDF version. The examiner has not performed a separate review of the online version.

 

Statement of financial activities

for the 11 month period ended 28 February 2009 (comparatives for the year ended 31 March 2008) 

 
 
 
 
Notes
Unrestricted funds:
 
 
 
 
 
General
purpose
£
 
Designated funds
£
Restricted
income funds
£
 
Endowed
Funds
£
 
2009
Total
£
 
2008
Total
£
Incoming resources Incoming resources policies info
 
 
 
 
 
 
 
Incoming resources from generated funds:
 
 
 
 
 
 
 
Voluntary income:
 
 
 
 
 
 
 
- Donations Donations info
 2
1,833
-
-
-
1,833
1,575
- Grants Grants info
 
-
-
1,800
-
1,800
-
- Members’ subscriptions Subscriptions info
 
1,008
-
-
-
1,008
880
Activities for generating funds Fundraising info
 3
607
-
-
-
607
3,670
Investment income (interest) Investment income info
 
493
-
62
-
555
486

Incoming resources from charitable activities:
 
 
 
 
 
 
 
Concerts Concerts info
 4
9,742
-
-
-
9,742
1,350
Tours & trips Tours & trips info
 
-
-
2,446
-
2,446
2,116
Social events
 5
270
-
-
-
270
215
Total incoming resources Incoming resources chart info
 
13,953
-
4,308
-
18,261
10,292
 
 
 
 
 
 
 
 
Resources expended info
 
 
 
 
 
 
 
Costs of generating funds:
 
 
 
 
 
 
 
Fundraising trading: costs of info
goods sold and other costs
(407)
-
-
-
(407)
(536)

Charitable activities
:
 
 
 
 
 
 
 
Rehearsal premises info
 
(1,047)
-
-
-
(1,047)
(1,193)
Concert and competition costs info
(6,318)
-
(61)
-
(6,379)
(1,439)
Tours & trips info
 
-
-
(6,675)
-
(6,675)
(3,684)
Social events
(370)
-
-
-
(370)
(385)
Admin and other costs info
(873)
-
-
-
(873)
(628)
Instrument/trophies depreciation info
(124)
-
-
-
(124)
(111)
               
Governance costs
(171)
-
-
-
(171)
(195)
Total resources expended Resources expended chart info
 
(9,310)
-
(6,736)
-
(16,046)
(8,171)
               
Net incoming/(outgoing) resources before transfers
 
4,643
-
(2,428)
-
2,215
2,121
Gross transfers between funds
 
(625)
-
625
-
-
-
Net movement in funds
 
4,018
-
(1,803)
-
2,215
2,121
 
 
 
 
 
 
 
 
Fund balances brought forward
 
15,208
-
1,800
1,000
18,008
15,887
Fund balances carried forward
19,226
-
(3)
1,000
20,223
18,008

 The notes on pages 12 to 18 form part of these financial statements.

Balance Sheet

at 28 February 2009 (comparatives at 31 March 2008)

 
Notes
2009
 
2008
 
 
£
£
 
£
£
Fixed assets
 
 
 
 
 
 
Tangible fixed assets
 
1,381
 
 
1,170
Investments
 
1,000
 
 
1,000
Total fixed assets
 
 
2,381
 
 
2,170
 
 
 
 
 
 
 
Current assets
 
 
 
 
 
 
Stock
2,850
 
 
3,257
 
Debtors  info
756
 
 
6,593
 
Investments  info
8,000
 
 
-
 
Cash at bank and in hand  info
 
7,757
 
 
13,652
 
Total current assets
 
19,363
 
 
23,502
 
Creditors: amounts due within one year info
(1,521)
 
 
(7,664)
 
Net current assets
 
 
17,842
 
 
15,838
Net assets
 
 
20,223
 
 
18,008
 
 
 
 
 
 
 
FUNDS
1, 15
 
 
 
 
 
Unrestricted income funds
 
 
 
 
 
 
General purposes fund
 
 
19,226
 
 
15,208
Designated fund – Shetland Trip 2009
 
 
-
 
 
-
Restricted income funds
 
 
 
 
 
 
Iain Fraser Award prize fund
 
 
(3)
 
 
3
Stavanger Trip 2009
 
 
-
 
 
1,797
Endowed funds
 
 
 
 
 
 
Iain Fraser Award endowment fund
 
 
1,000
 
 
1,000
Total funds
 
 
20,223
 
 
18,008

 
The notes on pages 12 to 18 form part of these financial statements.
 
Approved by the committee and signed on their behalf
 
G Henderson, President
30 April 2009

 

Notes - Accounting Policies

Notes to the accounts

1. Accounting policies
 
General
These financial statements have been prepared under the historic cost convention and in accordance with applicable accounting standards and “Accounting and Reporting by Charities: Statement of Recommended Practice (Revised 2005)” published in March 2005.
 
Basis of allocation of expenditure
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 some musical instruments and 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.
 
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, photocopier 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 SORP 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
  • 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 - the objects of the Society do not specifically include the making of charitable grants. A member may propose the payment of grants to charitable organisations, or for charitable purposes falling within the Society’s objects, from the general purposes funds at the Annual General Meeting of the Society, where sufficient funds are available. Any such proposal is to be approved by the membership.
  • 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 the donations income recognised on 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 FRS9 Associates and Joint Ventures 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 recognised by the Inland Revenue as a Scottish Charity and is entitled to exemptions from corporation tax. The Society is not registered for VAT, irrecoverable VAT is included within the expenditure concerned.
 
Change in accounting period – comparative figures
The accounting period end has changed to 28 February, previously it was 31 March. The current period financial statements and notes are for the 11 months from 1 April 2008 to 28 February 2009. The comparative figures are for the year 1 April 2007 to 31 March 2008.

Notes - continued 1

Notes to the accounts (continued)

 2. Donations

General purposes fund:
2009
£
2008
£
Non-commercial concert donations
615
955
Other donations
548
400
Value of Gifts in kind and donated goods or services
670
220
info 
1,833
1,575
 
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:
2009
£
2008
£
Cost for generating funds – Cowdray Hall Concert Raffle (note 3)
-
120
Concerts & competitions costs – Music Hall Fiddlers Rally (note 4)
120
-
Admin & other costs – Gifts to members (note 6)
200
-
Fixed assets – Instruments additions (note 9)
350
100
 
670
220
 
 

3. Activities and costs for generating funds

General purposes fund:
 
2009
 
 
2008
 
 
Income
£
Costs
£
Net
£
Income
£
Costs
£
Net
£
Cowdray Hall Concert Raffle
-
-
-
205
(123)
82
Music Marathon
-
-
-
972
(140)
832
Charity shop
50
-
50
1,370
-
1,370
Easyfundraising.org.uk
144
-
144
-
-
-
CD, Tape & other items
413
(407)
6
1,123
(273)
850
info 
607
(407)
200
3,670
(536)
3,134
 
 

4. Concerts and competitions

General purposes fund:
 
2009
 
 
2008
 
 
Income
£
Costs
£
Net
£
Income
£
Costs
£
Net
£
HMT Fiddlers' Spectacular
8,367
(5,545)
2,822
-
-
-
Music Hall Fiddlers Rally
800
(120)
680
400
-
400
Cowdray Hall
-
-
-
656
(712)
(56)
Taster session
-
(97)
(97)
-
-
-
Tartan Day
200
-
200
150
-
150
Other concerts & competitions
375
(556)
(181)
100
(611)
(511)
Total general purposes fund
9,742
(6,318)
3,424
1,306
(1,323)
(17)
 
 
 
 
 
 
 
Restricted income funds:
 
 
 
 
 
 
Iain Fraser Prize
-
(61)
(61)
-
(55)
(55)
Highland Hospice Concert
-
-
-
44
(61)
(17)
 
 
 
 
 
 
 
Total of all funds info
9,742
(6,379)
3,363
1,350
(1,439)
(89)
 
 

5. Social events

General purposes fund:
 
2009
 
 
2008
 
 
Income
£
Costs
£
Net
£
Income
£
Costs
£
Net
£
Christmas ceilidh party
270
(370)
(100)
215
(300)
(85)
Other events
-
-
-
-
(85)
(85)
 
270
(370)
(100)
215
(385)
(170)
 
 

6. Admin and other costs

General purposes fund:
2009
£
2008
£
Insurance
79
52
Stationery, subscriptions, web site
340
313
Advertising & public notices
98
-
Committee expenses (see note 8)
78
-
Gifts to Society members and others info
263
-
Live at the Music Hall CDs issued to members & others
-
244
Photocopier depreciation (see note 9)
15
19
info 
873
628
 
 

7. Governance costs

General purposes fund:
2009
£
2008
£
Stationery & postage
33
18
Gift to Independent Examiner
40
35
Rent for meetings
28
64
Committee expenses (see note 8)
70
78
 
171
195
 
 

8. Committee expenses and benefits

 
 
Expenses allocated to:
 
 
2009
£
2008
£
Charitable activities
 
 
78
-
Governance
 
 
70
78
 
 
 
148
78
 
During the period two committee member received reimbursement of expenses to cover heat, light, communication and other costs of fulfilling committee roles from home as no office accommodation is provided by the Society (2008: one committee members received expenses). No committee members received any remuneration in the period (2008: none).
 
During the 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. 

Notes - continued 2

 9. Tangible fixed assets

 
Instruments
£
Photocopier
£
Trophies
£
Total
£
Cost
 
 
 
 
At beginning
1,352
350
530
2,232
Additions
350
-
-
350
At end of year
1,702
350
530
2,582
 
 
 
 
 
Depreciation
 
 
 
 
At beginning of year
563
184
315
1,062
Charge for year info
104
15
20
139
At end of year
667
199
335
1,201
 
 
 
 
 
Net book value
 
 
 
 
At 28 February 2009
1,035
151
195
1,381
 
 
 
 
 
At 31 March 2008
789
166
215
1,170
 

10. Investments (fixed assets)

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

11. Stock

 
2009
£
2008
£
Finished goods:
CDs, Tapes, Anniversary Books
 
2,705
 
3,112
T Shirts and Ties
145
145
 
2,850
3,257
 

12. Debtors 

 
2009
£
2008
£
Trade debtors
-
18
Gift Aid recoverable
163
77
Other debtors and prepayments info
593
6,498
 
756
6,593
 

13. Investments (current assets) 

 
 
UK Fixed
Term Bond
£
Cost and market value
 
 
At beginning of period
 
-
New fixed rate bonds purchased info
 
8,000
At end of period
 
8,000
The maturity dates of the fixed term bonds are all less than one year.
 
 

14. Creditors: amounts due within one year

 
2009
£
2008
£
Trade creditors
165
5,020
Deferred income
690
2,186
Accruals and other creditors
666
458
info 
1,521
7,664
 

15. Total funds

In the period ended 28 February 2009 the restricted income fund previously established in relation to the Stavanger June 2008 trip was closed after completion of the trip, the £625 deficit on the fund was covered by transfer from the General Purposes Fund. Also in the period a designated fund was established in relation to payments from members for the planned trip to Shetland in October 2009. After the period end the committee agreed to designate £1,000 from the General Purposes Fund towards subsidising travel and accommodation costs of the Shetland trip.
 
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
 
15,208
 
13,953
 
(9,310)
 
(625)
 
19,226
Designated fund –
Shetland Trip 2009
 
-
 
-
 
-
 
-
 
-
 
 
 
 
 
 
Restricted:
Stavanger trip 2008
 
1,797
 
4,253
 
(6,675)
 
625
 
-
Iain Fraser Award prize fund
3
55
(61)
-
(3)
 
1,800
4,308
(6,736)
625
(3)
 
 
 
 
 
 
Endowed:
Iain Fraser Award endowment
fund
 
1,000
 
-
 
-
 
-
 
1,000
 
 
 
 
 
 
Total all funds
18,008
18,261
(16,046)
-
20,223
 

16. Analysis of net assets by fund

 
Unrestricted funds
 
 
 
General
purposes
fund
£
 
Designated
funds
£
Restricted
income
funds
£
Endowed
funds
£
 
 
Total
£
Tangible fixed assets
1,381
-
-
-
1,381
Investments (fixed assets)
-
-
-
1,000
1,000
Current assets
18,664
690
9
-
19,363
Current liabilities
(831)
(690)
-
-
(1,521)
Current assets/(liabilities) between funds
12
-
(12)
-
-
 
19,226
-
(3)
1,000
20,223

 

Charts Summary

For those users that do not have, or have not enabled, javascript in their browsers this page replicates the incoming resources and resources expended charts included in the pop-up dialog boxes on the Statement of Financial Activities page. Although it summarises annual report data it is a supplementary page in the online version and has not been subject to independent examination.

 

Refer to the Finance page for explanations of the differences between periods.

PDF Version - Annual Report 2009

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

Corrections: After the accounts were approved and signed we've identified a few errors relating to the period end dates quoted -  the headings on pages 13 to 18 are incorrectly labelled for the "Period ended 31 March 2009" this should in fact read "Period ended 28 February 2009". Apologies for any confusion.

AttachmentSize
Annual report 2009.pdf605.5 KB