THE NATIONAL FEDERATION OF MUSIC SOCIETIES
Financial health, per its FY2024 accounts
The accounts state that unrestricted free reserves stood at £190,611, which the trustees report represents 3 months of unrestricted expenditure, returning the position to within the charity's policy target of 3 to 6 months. The charity reported a net income of £201,804 for the year, driven by a recovery in membership subscription income and grant funding, while maintaining a positive cash balance of £1,620,119.
What the accounts disclose
“It is the policy of the charity to maintain adequate reserves to cover between 3 and 6 months of unrestricted expenditure, in normal circumstances.” — page 26
“The total amount of employee benefits (including employer's national insurance and pension contributions) received by key management personnel during the year was £174,313 (2023: £209,520). There were no Trustees' remuneration or other benefits during the current or prior period. Trustees were reimbursed expenses of £1,311 (2023: £2,349), in respect of eight (2023: seven) trustees for travel and subsistence costs. There were no other related party transactions in the year. In 2023, Ms Clare Birks served as a trustee and was related to the owner of the property leased by the charity. The amount of the lease charge payable per annum was £36,996. While serving as a trustee, Ms Birks was excluded from any discussions on property-related matters and the rent was negotiated on an arm's length basis.” — page 49
“The trading subsidiary, NFMS Enterprises Limited, generated a profit of £51,473 (2023: £38,444) which was donated to the charity under deed of covenant.” — page 25
Year-over-year changes
- Employees paid over £60,000: 1 (FY2023) → 0 (FY2024).
Structured financials (annual return, FY ending 31/12/2024)
Register events
- Received assets from another charity (03/04/2019)
Trustees
- Margaret Ruth Harrisonchair
- Alison Mary Holdom
- Andrew Hamilton Devine
- Catherine Elizabeth Travers
- DAVID CHARLES HICKMAN
- JAYNE LOXLEY BARR
- Janice Ford
- Katherine Donaldson Lethbridge
- Nicholas Lewis LLOYD JAMES
- Philip O'Rawe
- Raymond Walkinshaw
- Sumit Kumar Biswas
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £1.0m | £827k |
| 31/12/2023 | £929k | £841k |
| 31/12/2022 | £703k | £771k |
| 31/12/2021 | £721k | £761k |
| 31/12/2020 | £759k | £767k |
Common questions
Is THE NATIONAL FEDERATION OF MUSIC SOCIETIES financially healthy?
The accounts state that unrestricted free reserves stood at £190,611, which the trustees report represents 3 months of unrestricted expenditure, returning the position to within the charity's policy target of 3 to 6 months. The charity reported a net income of £201,804 for the year, driven by a recovery in membership subscription income and grant funding, while maintaining a positive cash balance of £1,620,119. Its FY2024 accounts were audited by Lindeyer Francis Ferguson Limited.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE ROYAL NORTHERN COLLEGE OF MUSIC ENDOWMENT FUND | 1 | £372k |
| THE THOMPSON FAMILY CHARITABLE TRUST | 1 | £250k |
| HUO FAMILY FOUNDATION (UK) LIMITED | 1 | £204k |
| THE SACKLER TRUST | 1 | £50k |
| THE CHARLES SKEY CHARITABLE TRUST | 1 | £40k |
| THE KATHLEEN SMITH FOUNDATION | 1 | £30k |
| THE E C SOSNOW CHARITABLE TRUST | 1 | £25k |
| THE OFENHEIM CHARITABLE TRUST | 1 | £24k |