LABBS - Charities report - 22.2

REGISTERED COMPANY NUMBER: 08380019 (England and Wales)

REGISTERED CHARITY NUMBER: 1151161

Trustees' Report and

Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Ladies Association of British Barbershop

Singers

Page

Trustees' Report

1

to

6

Independent Examiner's Report

7

Statement of Financial Activities

8

Balance Sheet

9

to

10

Notes to the Financial Statements

11

to

20

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Charitable objects

The objects of the charity are to further the education of the general public in any and all aspects of barbershop harmony including singing in the barbershop harmony style.

Purpose of the charity and principal activities

The principal activities of the charity were the promotion and education of barbershop singing by various means including the provision of grants, education events and the hosting of competitions.

The Ladies Association of British Barbershop Singers (LABBS) is committed to encouraging participation in singing across all age groups. The charity delivers its goals by supporting a network of over 2100 individual members of 59 barbershop choruses and 68 registered quartets. These choruses and quartets are based throughout the UK from Cornwall to Aberdeen and are all actively involved in their local communities. Our member choruses and quartets would normally perform at local community events, including charity events, where they promote barbershop singing to their audience. Our groups would normally hold open evenings and Learn to Sing courses where members of the public are invited to participate in the education of singing in the barbershop style. In support of these activities, LABBS provides grants to our groups to run these local recruitment/education initiatives and practical tools to support the fulfilment of these activities.

LABBS continued to be an important source of information, resources and support for its network of members and groups, enabling them to function well and deliver the opportunity to sing barbershop harmony in their local communities.

There is general acceptance of the social, health and wellbeing benefits of singing in a group and this is something we feel is of particular benefit to those who participate in barbershop singing and this can benefit the public when they are part of our activities. Our activities help to promote these benefits and raise awareness and stimulate interest in participation.

Public benefit

The Trustees have complied with their duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. Further information on the activities undertaken is given in the subsequent sections of this report.

Promotion of Barbershop

In 2023, LABBS continued to use our website and social media to share and promote barbershop activity.

We continued to actively promote barbershop singing in innovative ways to make members of the public aware of the opportunity to join a local group and experience the benefits associated with being part of a social group.

Awards and grants

LABBS offers grants and awards to its members through its 'Voices in Harmony' initiative, which is funded by a fund transfer from the general fund.

Throughout 2023, LABBS supported its clubs in the development of barbershop singing and its promotion through the funding of grants. These are offered to choruses and quartets to further their own barbershop education. Over 70 grants were awarded in 2023 (2022: 55).

In addition, we offered grants to choruses to run Learn to Sing courses in their own communities. These courses are developed and led by barbershop choruses and are open to members of the public. They provide education in barbershop singing over a one day, 4 week or 6 week period. The directors of these courses deliver training and education in the craft of barbershop singing and encourage the adoption of it as an art form, usually focusing on one barbershop song to learn throughout the length of the course. The grants we offer help our choruses to fund the running costs of Learn to Sing events. This encourages more participation from groups and encourages wider public participation in barbershop singing. Many people have benefitted from joining one of these courses and have gone on to participate in a lifelong fulfilling hobby. A total of 14 grants were awarded in 2023 (2022: 12).

Awards and Grants Policy: Chorus and quartet grants are available to LABBS member clubs and LABBS registered quartets, a grant form is completed and submitted with supporting evidence to the LABBS Finance Director. Learn to Sing grants are available to LABBS member clubs, a grant form is completed and submitted with supporting evidence to the LABBS Finance Director. Education Events grants are offered to both LABBS members and non LABBS members, a grant application form is completed and submitted to the LABBS Finance Director.

Working with other organisations

As part of our ongoing commitment to the promotion and education of barbershop, LABBS has established relationships with several other organisations. These include:

o British Association of Barbershop Singers

o Sweet Adelines International (Region 31)

o Holland Harmony

o Swedish National Organisations of Barbershop Singers

o Irish Association of Barbershop Singers

o Barbershop Harmony Society

o Making Music

o Voluntary Arts Network

o Association of British Choral Directors

o The Voice Festival UK

In conjunction with these organisations, we provide shared educational activities and, are working with the British Association of Barbershop Singers and Sweet Adelines International (Region 31) in a joint education and promotion activity operating throughout the UK under the banner of 'Barbershop in Harmony'.

In 2023, we continued to work together to develop Mixed Barbershop quartet and chorus singing for all in the UK.

STRATEGIC REPORT

Achievement and performance

Charitable activities

Education

One of the key objectives of LABBS is to provide regular education for our members to continue to grow and develop in the craft of barbershop and harmony. This is offered through regional and national education days, national quartet weekends and many other events, which all aim to increase members' knowledge of barbershop and to raise performance skill levels. It is vitally important that we continue to support and educate our barbershop leaders as they in turn use these acquired skills to support the participation of our members and the general public in barbershop singing within communities throughout the UK.

During the course of the year, LABBS delivered the following educational strategy:

Harmony College

In April 2023 we ran a full weekend of targeted education at the University of Nottingham Campus. This was open to all and included LABBS members and non-LABBS members. This special event was supported by guest educators and covered barbershop education for chorus singers, quartet singers, musical directors and music team leaders. Barbershop education was delivered through a chorus stream, quartet stream, directing stream and personal development stream. It was an extremely popular and successful event with over 300 attendees and LABBS grants were available to support the attendance of both LABBS and non-LABBS members.

Polecat song

Each year a song is chosen by LABBS which is made available to all our members to learn via sheet music and audio teach tracks. In 2023, an arrangement of "Get By With A Little Help From My Friends" was chosen. The song was used as an educational and promotional tool. The learning and developmental aspects of the song experienced by our members culminated in a massed sing at LABBS Annual Convention in October 2023. The polecat is being funded at present from a restricted fund donated by Mersey Harmony.

Judges Training

LABBS supports and trains judges who partake in our annual contests for both quartets and choruses. The judges attend two UK based seminars a year to further their education - these took place in February and September. Every three years, representatives are sent to the Barbershop Harmony Society's (BHS) Category School, this happened in 2023 with three LABBS judges attending.

Competitions

LABBS continues to promote barbershop singing to the public by hosting and staging the following contests:

Quartet contests

In June 2023, we held a Preliminary qualifying contest for quartet singers in the Midlands. This event was free of charge to the public to come and watch. This was followed by a semi-final and final contest held at our Annual Convention in Harrogate in October 2023.

Annual Convention

Our Annual Convention is a showcase of the best of barbershop singing within the UK. Attendance is open to the general public and we promote our presence in the hosting town including offering invitations to civic guests.

In 2023 the LABBS National Convention was held in Harrogate.

The LABBS National Convention was open to members and non-members to attend. Over 1500 delegates from all over the UK and Europe attended the convention. The weekend, Friday to Sunday, promoted barbershop contests for female & mixed quartets and female choruses. In addition, there were guests from other organisations including the current national mixed singing chorus and quartet champions.

Youth Initiative

In 2023 we continued to develop the youth initiative which aimed to encourage the involvement and education of young people in barbershop singing.

Youth Chorus

In 2023 the Youth Chorus, aimed at young females aged 7 to 30 years of age with LABBS providing funding to support this project continued to flourish. This chorus is open to anyone willing to participate and encourages the introduction to and education of barbershop singing at an early age.

Rehearsals are held during the year and the over 18s chorus competed at our LABBS annual Convention in Harrogate with the full chorus closing the chorus contest. The Youth Chorus provides the opportunity for young people to come together in a safe environment to learn and perform harmony singing.

Financial review

Financial position

The overall income in 2023 was £302,895, an increase of 33% from 2022 (£228,269).

Expenditure in 2023 was £312,953, an increase of 29% from 2022 (£242,991).

The trustees had planned for a deficit in 2023. The deficit was £10,058 (2022: £14,722 deficit). The 2024 budget has been agreed with a small deficit, this is possible due to the reserves held. The membership rates have been increased for 2024.

Restricted funds

LABBS holds £24,341 (2022: £28,252) in restricted funds - this is money which was donated in Katy Phillips' memory, Jen Mills' memory, by Mersey Harmony and a donation for a Youth Educational Fund and the donations are to be used in activities to support the Katy Phillips' Awards and Bursaries, The Jen Mills Award (which will be awarded annually until the funding runs out), LABBS polecats and supporting Youth members attending education events respectively. Nine awards were made in 2023 (2022: 3).

Reserves policy

LABBS aims to hold reserves to allow them to function for a minimum of 12 months with no income being received. This year, the target reserve level is £312,953 (2022: £242,991).

The total unrestricted reserves held at 31 December 2023 were £286,415 (2022: £292,562). This is less than the target amount because a planned budgetary deficit is being run in order to continue normal operations despite the adverse effects of becoming VAT registered.

Going concern

The Trustees consider there are no material uncertainties about the charity's ability to continue as a going concern.

This is evidenced by the fact that total reserves held (£310,756) would almost completely cover the expenses in the year (£312,953) without any income.

The Board has envisioned a small deficit in the 2024 budget, there will be ample reserves to absorb this and this suggets that the charity can meet its obligations for the next 12 months at minimum.

Principal risks and uncertainties

The principal risks that we face will be:

1) A drop in membership numbers

2) A drop in the number of choruses, quartets and general members taking part in educational events.

The marketing director is always looking for new ways to encourage individuals to join our organisation and is constantly exploring social media sites.

We need to be encouraging our current members to participate in chorus and quartet activities and we have various digital media sites that we use for this purpose. We also use our magazine, Voice Box, to advertise our activities.

If we notice a trend of fewer choruses attending our annual convention, then we will look at finding cheaper and smaller venues to hold it in.

Future plans

Short term - The objectives of the charity are to further the education of the general public in all aspects of barbershop singing and we aim to continue with this by seeking further activities to educate and enhance singing for all.

Long term - We will continue to concentrate on education and look to the future by planning various large events to promote barbershop to different regions of the country, thereby increasing our membership.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Association is a charitable company limited by guarantee, incorporated on 29 January 2013 and registered as a charity on 8 March 2013. The company was established under a Memorandum of Association which established its objects and powers while it is governed by its Articles of Association. The directors are also trustees under charity law, do not receive any benefits and are members of the Management Committee whose responsibility it is to prepare financial statements annually which reflect the state of affairs of the charity, its incoming resources and their application for the financial year. The Committee members are set out on page 6.

Recruitment and appointment of new trustees

As set out in the Articles of Association, the Board of Trustees is comprised of at least 8 and no more than 12 Trustees. Trustees are volunteers and are recruited following advertisement within the Association and an assessment of needs and candidate suitability by the Board of Trustees. Trustees are elected by a majority of votes at LABBS Council after application, interview and recommendation of candidates by the Board. The Trustees may at any time co-opt any individual eligible under the Articles of Association to fill a vacancy in their number as an additional Trustee until the next AGM.

No other individual or external body is entitled to appoint a trustee to the charity.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08380019 (England and Wales)

Registered Charity number

1151161

Registered office

Lister House

Lister Hill

Horsforth

Leeds

LS18 5AZ

Trustees

A J Galloway

G Grainger (appointed 12.6.23)

N Feddon

J Cook

L Hooker (resigned 11.11.23)

H L Barber

N C Nickson (resigned 30.4.23)

S A G Ranson

A Thompson

D Kitchenham (resigned 30.4.23)

K Mair

C Cale (appointed 12.11.23)

C Higham (appointed 12.6.23)

M Baber (appointed 11.6.23)

Independent Examiner

Whitesides Chartered Accountants

Lister House

Lister Hill

Horsforth

Leeds

LS18 5AZ

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Trustees' report, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 9 March 2024 and signed on the board's behalf by:

S A G Ranson - Trustee

Independent examiner's report to the trustees of Ladies Association of British Barbershop Singers ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Daniel Dufton ACA

Whitesides Chartered Accountants

Lister House

Lister Hill

Horsforth

Leeds

LS18 5AZ

9 March 2024

2023

2022

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

1,058

499

1,557

13,796

Charitable activities

Convention

117,462

-

117,462

124,590

Education

86,624

-

86,624

3,453

Other activities

93,114

-

93,114

85,528

Investment income

2

4,138

-

4,138

902

Total

302,396

499

302,895

228,269

EXPENDITURE ON

Charitable activities

Convention

126,233

-

126,233

146,594

Education

100,050

-

100,050

19,229

Other activities

82,260

4,410

86,670

77,168

Total

308,543

4,410

312,953

242,991

NET INCOME/(EXPENDITURE)

(6,147

)

(3,911

)

(10,058

)

(14,722

)

RECONCILIATION OF FUNDS

Total funds brought forward

292,562

28,252

320,814

335,536

TOTAL FUNDS CARRIED FORWARD

286,415

24,341

310,756

320,814

2023

2022

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

9

251

-

251

515

CURRENT ASSETS

Debtors

10

3,454

-

3,454

2,969

Prepayments and accrued income

57,315

-

57,315

88,465

Cash at bank and in hand

11

234,243

25,071

259,314

274,978

295,012

25,071

320,083

366,412

CREDITORS

Amounts falling due within one year

12

(43

)

-

(43

)

(50

)

NET CURRENT ASSETS

294,969

25,071

320,040

366,362

TOTAL ASSETS LESS CURRENT LIABILITIES

295,220

25,071

320,291

366,877

ACCRUALS AND DEFERRED INCOME

13

(8,805

)

(730

)

(9,535

)

(46,063

)

NET ASSETS

286,415

24,341

310,756

320,814

FUNDS

14

Unrestricted funds

286,415

292,562

Restricted funds

24,341

28,252

TOTAL FUNDS

310,756

320,814

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 9 March 2024 and were signed on its behalf by:

S A G Ranson - Trustee

A J Galloway - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The trust constitutes a public benefit entity as defined by FRS 102.

Income

Income is the amount derived from the provision of goods/services, stated after discounts and net of VAT.

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Upfront fees for memberships and subscriptions are recognized over the period that they are provided. Income from one-off events is recognised only when the service has been delivered.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Charitable activities

The charity analyses income and expenditure under three charitable activities:

Convention

This is income and expenditure relating to the main LABBS convention, which occurs annually.

Education

This is income and expenditure relating to education about barbershop harmony, and includes seminars and other smaller events during the year, as well as awards of the Katy Phillips Young Barbershopper of the Year bursary.

Other activities

This is income and expenditure relating to all other charitable purposes, including the administration and support costs of the charity, membership subscriptions and the administration thereof, and the Youth development and Voices in Harmony programmes.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 15% on reducing balance

Computer equipment - 25% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Donated services

LABBS receives donated services from its volunteers, however these are not assigned a value and therefore are not represented on the Statement of Financial Activities.

Assessment of going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

2.	INVESTMENT INCOME

2023

2022

£

£

Bank interest receivable

4,138

902

3.	GRANTS PAYABLE

2023

2022

£

£

Education

900

28

Other activities

11,326

8,399

12,226

8,427

The total grants paid to institutions during the year was as follows:

2023

2022

£

£

Jen Mills Award Winner

279

376

Various Quartets

3,194

2,004

Various Love to Sing Groups

2,225

2,246

Various Choruses

3,393

3,243

Katy Phillips Bursary

180

530

Education Grants

900

28

Regional Grants

1,150

-

Youth Member Grants

905

-

12,226

8,427

The Voices in Harmony fund awards grants, majority being valued at £100, to various Choruses and Quartets, as well as to fund the Learn to Sing educational programme.

The Jen Mills fund is held to finance the Jen Mills award, which is a larger bursary awarded to a chosen individual or group.

The Katy Phillips Bursary fund is held to distribute the Katy Phillips awards and bursaries. These being awarded to individuals or subsidising various activities.

Regional Event Grants are offered with the purpose of enabling clubs to organise non-competitive regional events or festivals involving LABBS clubs and other local groups and to promote barbershop as an enjoyable hobby and an attractive entertainment.

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023

2022

£

£

Depreciation - owned assets

77

91

Deficit on disposal of fixed assets

187

-

5.	INDEPENDENT EXAMINER'S REMUNERATION

During the year expenses of £2,080 (2022: £1,935) were incurred in relation to the independent examination and for the preparation of the accounts. £132 (2022: £120) was paid for registered office services, £125 (2022: £95) was paid for their tax investigation service and £170 was paid for a meeting analysing a potential venture.

6.	TRUSTEES' REMUNERATION AND BENEFITS

The trustees all give their time and expertise without any form of remuneration or other benefit in cash of kind (2022: £nil).

Trustees' expenses

11 (2022: 10) trustees were reimbursed expenses totalling £14,708 (2022: £18,418), for travel expenses, post, printing and stationery and other small expenses paid on behalf of the charity.

7.	STAFF COSTS

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

123

13,673

13,796

Charitable activities

Convention

124,590

-

124,590

Education

3,453

-

3,453

Other activities

85,528

-

85,528

Investment income

902

-

902

Total

214,596

13,673

228,269

EXPENDITURE ON

Charitable activities

Convention

146,594

-

146,594

Education

19,229

-

19,229

Other activities

76,263

905

77,168

Total

242,086

905

242,991

NET INCOME/(EXPENDITURE)

(27,490

)

12,768

(14,722

)

RECONCILIATION OF FUNDS

Total funds brought forward

320,052

15,484

335,536

TOTAL FUNDS CARRIED FORWARD

292,562

28,252

320,814

9.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2023

2,457

979

3,436

Disposals

(1,054

)

(350

)

(1,404

)

At 31 December 2023

1,403

629

2,032

DEPRECIATION

At 1 January 2023

1,942

979

2,921

Charge for year

77

-

77

Eliminated on disposal

(867

)

(350

)

(1,217

)

At 31 December 2023

1,152

629

1,781

NET BOOK VALUE

At 31 December 2023

251

-

251

At 31 December 2022

515

-

515

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

120

2,057

VAT

3,334

912

3,454

2,969

All debtors related to unrestricted funds in both the current and the previous financial period.

PREPAYMENTS AND ACCRUED INCOME

Prepaid expenses comprises the entire balance of £51,415 (2022: £88,465).

11.	CASH AT BANK AND IN HAND

Cash at bank balances were as follows: unrestricted funds £234,243 (2022: £259.694), restricted funds £25,071 (2022: £15,284).

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

-

50

Other creditors

43

-

43

50

All of the charity creditor balances are unsecured.

13.	ACCRUALS AND DEFERRED INCOME

2023

2022

£

£

Accrued expenses

2,810

2,630

Deferred income

6,725

43,433

9,535

46,063

Deferred income of £6,725 relates to fees received in advance for the 2024 Directors' Weekend. (2022: £43,433 relating to 2023 Harmony College registrations)

Accrued expenses in the year were £2,810 (2022: £2,630).

This includes accrued grants of £730 (2022: £695) being comprised of:

- Katy Phillips Bursary: £450

- Jen Mills Award: £280

The trustees accrue as a liability the bursaries awarded during the year. The recipients have two years from the date of the award to claim a bursary, which is to be used to further their barbershop singing.

14.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1.1.23

in funds

funds

31.12.23

£

£

£

£

Unrestricted funds

General fund

292,562

3,656

(9,803

)

286,415

Voices in Harmony Fund

-

(9,803

)

9,803

-

292,562

(6,147

)

-

286,415

Restricted funds

Katy Phillips Bursary Fund

12,242

320

-

12,562

The Jen Mills Award

2,347

(280

)

-

2,067

Mersey Harmony Polecat Fund

12,663

(3,046

)

-

9,617

LABBS Youth Members' Education Fund

1,000

(905

)

-

95

28,252

(3,911

)

-

24,341

TOTAL FUNDS

320,814

(10,058

)

-

310,756

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

301,338

(297,682

)

3,656

Voices in Harmony Fund

1,058

(10,861

)

(9,803

)

302,396

(308,543

)

(6,147

)

Restricted funds

Katy Phillips Bursary Fund

500

(180

)

320

The Jen Mills Award

-

(280

)

(280

)

Mersey Harmony Polecat Fund

(1

)

(3,045

)

(3,046

)

LABBS Youth Members' Education Fund

-

(905

)

(905

)

499

(4,410

)

(3,911

)

TOTAL FUNDS

302,895

(312,953

)

(10,058

)