## **Wiltshire Young Musicians** ## **Treasurers’ Report August 2021 to September 2022** The role of Treasurer for Wiltshire Young Musicians is shared by Committee Members, Marion Grout and John Malone. We took on the responsibility from Brian Swinburne in November of 2021, partway through the Financial Year 21-22. To facilitate sharing the role and to make the book keeping and accounting procedures more accessible, we moved from laptop based software to the on-line version of Quickbooks. Data and records from the old version of Quickbooks were effectively transferred into the on-line version. We have also upgraded our NatWest Bank Account from cheque book and paper statement based to be on-line. These switches have meant that we have needed to develop a new financial protocol to ensure transparency in managing the bank accounts and recording transaction. The new protocol was drafted by the Treasurers and discussed and approved by the Committee. On-line banking has meant that payments of subscriptions, instrument hire charges and other payments can be made electronically to the WYM bank account. We also continue to have card as a payment option via PayPal. We are also now able to pay invoices from tutors, for venue hire and other expenses directly from the bank account. This saves on administration time. With the accounts now moved to Quickbooks on-line, we have been spending time rationalising the income and expenditure categories to help improve book-keeping accuracy and make reporting clearer. For a number of years, we have had the support of a local accountant who reviewed the WYM accounts free-of-charge. This is no longer available, so we have identified Gooding Accounts and will be using their Westbury office. We will be working with them to prepare a report on the latest accounts for submission to Companies House and the Charity Commission. The key points to note from the Profit and Loss for August 21 to July 22 and Balance Sheet at 31 July 22 are as follows: ## **Income and Expenditure** At the heart of Wiltshire Young Musicians are the young people who come to enjoy playing music together and to learn. We would be unable to continue offering this fantastic opportunity without the financial support of that parents commit to the organisation through Subscriptions and Instrument Hire. So, thank you for this. Subscriptions brought in around £24,000 in FY 21/22, about half the total income of £47,542, with an additional £2,470 coming in through Instrument Hire Wiltshire Music Connect provides an essential income with their grant to WYM, amounting to £15,659 in the Financial Year. Thank you for this on-going support. Thank you also to those who have also made helpful donations. No gift aid submission has yet been made in respect of the tax year April 2021 to April 2022, so is not showing in the P&L for this financial year. However this will be claimed so will show on the following year's accounts. Our significant expenses are payment of Tutors and the Musical Director and Administrator, a total outgoing of £45,666. The hire of Rehearsal Rooms amounts to £16,666. Our total Outgoings for the year were £66,151, leading to an overall loss of £18,608. Clearly the Loss is of significant concern. ## **Balance Sheet** In the short-term, looking at the Balance Sheet, we have sufficient Cash to continue operation for the next few years, around £62,000, after accounting for the FY 21/22 deficit. Previous years’ accounts have shown a “WYM Airbag” fund of £7,064 under Liabilities. This money was given to WYM by Wiltshire Music Connect to smooth the transition away from the Service when it closed in 2015. This has been used to cover some of the loss in 2021-2022. Also previously shown under Liabilities, was The Steel Pan Tutors fund, which was given to us many years ago to support the Steel Pans group. This has now been moved to show on the accounts as a Fund. The money will continue to be used for Steel Pans tuition and maintenance of the Steel Pans e.g. tuning and stands. Over the past few months, driven by Matt Thorpe and now by our new Executive Director, Chris Turner, we have started to look at how we can ensure that Income exceeds Expenditure and how we can work together to secure the future of WYM so that may more young people from across the county can continue to enjoy and benefit from a wealth of ensemble music-making activities. Chris will comment on plans for the future. ## ------------------------------------------------------- ## Musical Director’s Report AGM 2021-22 2021/22 was WYM’s first full ‘normal’ year since the onset of the Coronavirus pandemic in March 2020. All 14 of our groups were able to return to rehearsing face-to-face and continued to do so throughout the full year. We were also able to gradually ease our COVID protocols and restrictions gradually over the course of year. It was very exciting to be able to produce our full programme of concerts this year. This started with our Christmas Festival including showcase concerts for all of our junior groups and two formal concerts at Wiltshire Music Centre which included all other groups. We hadn’t hosted any Love to Play! Days since March 2019 so we decided to hold two sets this year, the first in the Autumn term and the second in their usual place just before Easter. This provided a first performance opportunity for lots of our junior members. The Senior Concert and Summer Festival also went ahead as normal including our first visit to St Andrew’s Church in Chippenham since 2019. We made the decision to appoint an Executive Director to develop and manage a plan for financial stability for the organisation moving forwards. Interviews were held during the summer term and we appointed Chris Turner to the role. We look forward to him starting this work in September. As ever, the WYM team continue to provide the same dedicated, enthusiastic and exceptional tuition for our young musicians for which I am extremely grateful. We are very lucky to have team of such amazing tutors. We were sad that our long standing administrator Lesley Meredith made the decision to retire in the Spring but were pleased to welcome Claire Emberson to the team. We did manage to see a nice bounce back in subscription numbers this year as people gained more confidence in attending post pandemic. However, the general downward trend in numbers we have seen in recent years did continue. **Matthew Thorpe** Consultant Musical Director _Wiltshire Young Musicians_ **--------------------------------------------------------------------------------------------------------------------------------------** ## **Executive Director report 2022** Having taken post at Wiltshire Young Musicians in September 2022, I am not reporting on our last financial year as the Chair, treasurers and musical director are, but on my initial findings over the first two months of this year, since September 2022. Firstly and most importantly – we have a fabulous team of tutors here, well established and providing the highest quality ensemble provision. We do however, need to find new ways of recruiting new ensemble leaders as a vital part of our growth plan. Office staff and trustees are supportive and keen to improve the organisation. From feedback questionnaires. Participating members and their parents are, on the whole, happy with the service we provide. However, Wiltshire Young Musicians has become too reliant on funding from the hub and almost the entire grant is swallowed by the day to day running of the organisation. Even with the grant from the hub, this year we are likely to make a real terms loss of in excess of £12,000. The figures are likely to show better than this as one hub payment was late last year and shows on this year’s accounts, plus we are owed gift aid from last year. However, we must be realistic with where the organisation is. Systems and processes have been found to be outdated and often inefficient. Myself, Claire and Matt have been working on updating these and hope you will see some positive changes this academic year. I have been building relationships and gathering information from schools in every corner of the county. Secondary schools have offered particularly interesting feedback in Bradford on Avon, Royal Wooton Basset and Marlborough. This has helped to develop a plan for the organisation but also serves an important role in building strong relationships with schools, something which I urge us all to do. We now have an advertising budget to ensure strong visibility. I urge all members, staff and trustees to help with the distribution of materials and information where possible and appropriate. A business plan has now been developed and if the whole team can pull together on this then next years figure’s start to look a bit healthier. Main challenges will be: 1. Fundraising – please play your part in this by entering raffles, offering prizes and shaking buckets. Further fundraising will need to be secured through grants and donations. 2. Recruiting members – all our groups must be viable. At the moment only 1 group, the West Wiltshire Youth Orchestra, is making a small surplus. Two groups, West Wiltshire intermediate strings and West Wiltshire intermediate wind band, are just breaking even. All other groups are currently running at a loss, some at a significant loss. The business plan shows that by September 2023 all our groups should be at least breaking even. 3. Recruiting staff – North Wiltshire Junior Wind Band are looking for a new leader. Despite contacting all hub associates directly, advertising through arts council sites and others, we have not yet found a replacement. Timing of the groups seems to be the main difficulty for interested parties. This is a concern when much of the growth plan relies on opening new groups with new leaders. I would be looking for a system whereby assistant ensemble leaders can step into the lead roles when required. 4. Equality, Diversity and Inclusion – We have already started the ball rolling with this and have had interesting discussions with Cassie Tait at the West of England youth orchestra, Richard Parsons at Salisbury area young musicians and particularly Sharon Cullum at Swindon music co-operative about how to improve our plans and strategies for EDI. Further such meetings are booked and we look to have a strong plan in place for 2023. The full business plan has not been published to the public. If you wish to discuss this in more detail with me personally please do get in touch. My door is always open. I would like to thank you all for the warm welcome I have received here - keep up the good work! Whilst this term for me has been about setting us on the right footing, I look forward to making further more progressive impacts after Christmas. -------------------------------------------------------------------------------------------------------------------------------------- ## Management Report Wiltshire Young Musicians For the period ended 31 July 2022 Prepared by GOODING ACCOUNTS LTD Prepared on 12 December 2022 For management use only ## Table of Contents Financial Activities............................................................................................................................................3 Balance Sheet..................................................................................................................................................5 ��� ## Financial Activities August 2021 - July 2022 |Financial Activities
August 2021 - July 2022||| |---|---|---| |||Total| ||Aug2021 - Jul 2022|Aug2020 - Jul 2021(PP)| |INCOME||| |4170 Programme Sales|147.20|| |Bank Interest Rcvd|0.64|10.14| |Concert Income|56.00|| |Summer Concert|164.21|| |Summer Concert Sales|1,412.51|| |Xmas Concert Sales|1,806.56|| |Total Concert Income|3,439.28|| |Donations|1,357.63|2,000.00| |Fund Raising Easyfundraising|23.23|16.87| |Gift Aid||2,744.14| |Instrument Hire|2,470.00|277.09| |Love to Play Strings Day|343.30|| |Love to Play Wind Day|201.82|| |Subscriptions Received|6,680.17|5,387.50| |Subscriptions Received (PayPal)|17,219.27|13,256.84| |Tuck Shop||32.24| |Wiltshire Music Connect Grant|15,659.75|19,560.50| |Total Income|47,542.29|43,285.32| |TOTAL|47,542.29|43,285.32| |EXPENDITURES||| |6140 Gifts and Donations||145.00| |6180 Insurance|1,012.79|1,134.07| |6230 Licenses and Permits|48.00|| |6250 Postage and Delivery||113.75| |6260 Printing and Reproduction|321.94|| |6270 Professional Fees||| |6655 Consulting||5,000.00| |Total 6270 Professional Fees||5,000.00| |6335 Software Expense|90.00|| |6340 Telephone||| |6341 Mobile|120.00|120.00| |Total 6340 Telephone|120.00|120.00| |6550 Office Supplies|534.55|| |Company Admin|375.00|13.00| |Concerts|216.37|| |COVID-19||211.72| |Directors and Administrators||| |Administration|8,320.00|8,023.76| |Musical Director|8,000.00|| |Total Directors and Administrators|16,320.00|8,023.76| |Instrument Hire External||103.00| |Photocopying|199.66|120.38| |Rehearsal Rooms|16,666.12|15,497.12| 3/6 ������������������������� |||||Total| |---|---|---|---|---| ||Aug2021|- Jul 2022|Aug2020 - Jul|2021(PP)| |Software Licenses||89.52||83.52| |Stationery||81.47||85.71| |Tickets||||-24.00| |Training||480.00||100.00| |Tutors||29,346.85||41,928.75| |Website||249.00||207.60| |Total Expenditures||66,151.27||72,863.38| |NET OPERATING INCOME|-18,608.98||-29,578.06|| |OTHER INCOME||||| |7010 Interest Income||28.28||| |Total Other Income||28.28||0.00| |NET OTHER INCOME||28.28||0.00| |NET INCOME/(EXPENDITURE)|£ -18,580.70||£ -29,578.06|| 4/6 ������������������������� ## Balance Sheet As of July 31, 2022 |Balance Sheet
As of July 31, 2022||| |---|---|---| |||Total| ||As of Jul 31, 2022|As of Jul 31, 2021(PP)| |FIXED ASSET||| |Tangible assets||| |Instruments||| |Additions in the Year|91.67|91.67| |Costs B/fwd|146,001.97|146,001.97| |Total Instruments|146,093.64|146,093.64| |Total Tangible assets|146,093.64|146,093.64| |Total Fixed Asset|146,093.64|146,093.64| |CASH AT BANK AND IN HAND||| |Nat West Business Reserve|56,392.88|72,945.61| |Nat West Capital Reserve|5,632.50|5,630.33| |Nat West Current a/c|100.00|236.00| |Total Cash at bank and in hand|62,125.38|78,811.94| |CURRENT ASSETS||| |Gift Aid Due|0.00|2,744.14| |Total Current Assets|0.00|2,744.14| |NET CURRENT ASSETS|62,125.38|81,556.08| |CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR||| |Current Liabilities||| |Steel Pan Tutors|0.00|6,001.48| |WYM Airbag|0.00|7,064.00| |Total Current Liabilities|0.00|13,065.48| |Total Creditors: amounts fallingdue within oneyear|0.00|13,065.48| |NET CURRENT ASSETS(LIABILITIES)|62,125.38|68,490.60| |TOTAL ASSETS LESS CURRENT LIABILITIES|208,219.02|214,584.24| |TOTAL NET ASSETS (LIABILITIES)|£208,219.02|£214,584.24| |CHARITY FUNDS||| |1110 Retained Earnings|75,688.49|98,202.55| |3000 General Fund|145,959.75|145,959.75| |Steel Pans Tutors fund|5,151.48|| |Surplus/(Deficit)|-18,580.70|-29,578.06| |Total Charity funds|£208,219.02|£214,584.24| 5/6 ������������������������� The Financial Statements were approved by the Trustees on _________________. ____________ Trustee ������������������������� ��� ooding CCOUNTS EMPOWERING YOUR FUTURE www.goodingaccount8.co.uk Report to the member8 OE Wijtshitc Young Musicia On x¢ount8 fot the yeat ende&. 31 Juty 2022 Respeciivc te$p0tt8ibilities of The Tteasurer. as appointed by Wiltshite Young Musician8. trnstees and ¢xan)iner ts responsible fot the pt¢Pgtation of the accounts. '1lie ChArity consider that a in depth audit is not tquitcd fot tlll's yeat aad that a thomugh independent exati)inatiou is neede(L It is my tesponsibi]ity to: examine the a¢¢ounts. confirftn that the figwes pIesent a trne 2nd fair view of the P05Ltion. to state whether partiCLkn tnattets have come to my attentio Ba818 of independent examitiee8 My examination was cattiea out irt accordance with gcnetsl statement Directions given by the Wiltshire Young Musician8 and Accountancy bodies. An exatiiination indudes a review of the accounting recoids kept by the Charity and a compatison of the accounts presented with those tecotds. It also indudes consideration of any unusual items or disdosures in the accounts and seeking expjanations from the Treasurer concerning any such mattett. The procedures undertaken do not provide all the evidence that would be required in 2n 2udit. and consequently no opinion is given as to whether the iccounts ptcsent a'tsije and fairfview and the Ieport is ]imited to those n)attetr set out in the ststemcnt bdow. PartnÉbrs.' Ci4)odin¥ FPAAATFMAThFIAB Katy fJ¢odiii¥ B5EFfA Company ND.. nw874Jg Ilog15tored Ill knE1è1￿ and WJle¥ as OoLidiii¥ AccounE% Ltd Re4*sterod Ofltt". 34 wilin1￿st￿brKuIlj. W¥Stbu)Tr, W￿tshare, IIA13 JPE ICAEW CHARTERED ACCOUNTANTS Indepettdettt exatiiitiet 8 In connection with my ex2n)inxtio￿ no tnatter has come to statement my attention which gives me teasonable cause to beJAeve that ify any tnatcti21 r¢5pcc¢ thc tf.qutt¢mcnts: to keep accounting recollls in accordance WAtb ie8ular Accounting procedut￿. to prepare accounts wbidL 2ccord witb the accounting rewrds #nd coniply with the necessary accouniing tequirements of the Wiltsbire Young fvIusicians. have not been nLetr, or 2. to which. in my Opinio￿ attention should be dra￿ll in otdet to enable a propet undetstandll4 of the accounts to be tC2ched. which would give tise to any concern in re12tion the fi disdosure of all financthl mattets iti telation to the Wiltshite Young Musiciatis. Signe(L. Date: 5 December 2022 Name: Katy Gooding Relevant ptofes8ional qU￿ifiCatiOn(8) or boty. ICAEW Address: CTooding Accounts Ltd 24 Warminstet Roa(L Westbu Wiltshire BA13 3PE