2024-07-31-accounts

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Chair of Committee Report

The academic year 2023-24 has been a pivotal one for Wiltshire Young Musicians. We have said goodbye to a long-standing Musical Director and welcomed in another from our own ranks, which is a testimony to the high quality of tutors the organisation has working for it. Our Executive Director continues to shape the organisation to be ready for future challenges and opportunities.

There have been many changes to the music education landscape that WYM sits with in. Most notably with creation of the new GSW consortium as the music hub for Gloucestershire, Swindon and Wiltshire, the potential closure of Wiltshire Music Connect and changes of personnel in management at the Wiltshire Music Centre. The committee sees both challenge and potential ahead and is poised to support both the Musical Director and Executive Director with their visions of how WYM might respond to these.

The committee itself has strengthened over the past year after welcoming new members. There is real strength in the knowledge and experience that committee members bring far beyond the world of music education and the committee has been able to both challenge and support WYM to take decisions in its best interests. Committee meetings are purposeful and professional which puts the organisation in a good position for the academic year 24-25. This being said, the committee welcomes new members to join and support the very important work WYM does.

Wiltshire Young Musicians

Treasurers’ Report August 2023 to July 2024

Since November 2021, the role of Treasurer for Wiltshire Young Musicians has been shared by Committee Members, Marion Grout and John Malone.

Our move to on-line banking in 2022 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 PayPal as a payment option for debit and credit cards. Payment of

Wiltshire Music Centre, Ashley Road, Bradford on Avon, Wiltshire, BA15 1DZ • Telephone 07835 764218 • Registered charity 1000800

www.wiltshireyoungmusicians.org.uk •[info][@][wiltshireyoungmusicians.org.uk ]

tutors, for venue hire and other expenses is now done directly from the bank account. This saves on administration time.

We are using Quickbooks on-line to record and help manage WYMs finances.

We have put in place new administrative processes regarding the bookkeeping, with more responsibility now sitting with the office. This has freed up some treasurer time and we are grateful to the office for taking this on. This also provides a further separation of responsibilities between logging payments and making them, which gives better controls and more chances of spotting errors before payments are made.

We have also opened a new current account with debit card to enable on line and small local purchases. We will control the cash available in this account.

We use Goodings Accountant (Westbury Office) to prepare the annual Report on Accounts, which will be submitted after the AGM to Companies House and the Charity Commission.

The key points to note from the Financial Activities August 23 to July 24 report and Balance Sheet at 31 July 24 are as follows:

Income and Expenditure

In the FY 23/24, Subscriptions brought in £31.8k, a 20% increase compared with £ 27,687 in FY 22/23 following the change in pricing structure in September 23. Gift Aid on these Subscriptions and other donations contributed a further £7.3k.

Instrument Hire brought in an additional £3,090, up from £2445 in the previous year.

Income received through ticket and programme sales for Concerts amounted to £10,004. In the previous year this was £12,638. However, this figure does not include our summer festival in July 2024 which we now know brought an additional £2,507 bringing these figures into a comparable state.

The local music hub provides an essential income with their grant to WYM, and this year Wiltshire Music connect contributed £24,038 in the Financial Year. Thank you for this ongoing support. The grant amount was lower than the previous year, £26,587, which had also

Wiltshire Music Centre, Ashley Road, Bradford on Avon, Wiltshire, BA15 1DZ • Telephone 07835 764218 • Registered charity 1000800 www.wiltshireyoungmusicians.org.uk •[info][@][wiltshireyoungmusicians.org.uk ]

included a catch-up amount from the 21/22 FY. This year’s grant also included additional funding to support West Wiltshire young singers to attend their trip to Birmingham. We understand from the new music hub, GSW consortium, that the continued £18,865 grant will be awarded this current FY 24/25 but future grant amounts currently remain uncertain.

Interest income was up by £1.2k following an increase in interest rates, and the decision to put some of our funds into a higher interest account with 30 days notice.

Our total income for the FY 23/24 was £83,812k, compared with £ 87,714 in the previous Financial Year, a fall of 4.4%.

Our significant expenses are payment of Tutors fees at £37,661, and fees to Executive Director, Musical Director and Administrator, an outgoing of £25,200. The hire of Rehearsal Rooms amounts to £17,575 compared with £16,666 in the previous year.

Our total Outgoings for the year were £89,957k and increase of £6.2k on the previous year (£87,714 in FY 22/23). The majority of this increase coming from an increase in payments to tutors. Other areas of expenditure were broadly in line with the prior year.

The net income for the year was -£4.4k, compared with £4.9k positive the prior year.

Balance Sheet

The Balance Sheet shows we had £60,770 in the bank at the end of 23/24.

With Tangible Assets, the instruments, standing at £146,093, our Total Net Assets are £206,863.

There will naturally be some uncertainty how funding works going forward due to the new hub, but our executive director is keeping closely involved with the plans and has confirmed that there is budget for the coming year.

Lead by Executive Director, Chris Turner, we continue to look at how we can ensure that Income will exceed Expenditure in the challenging times ahead.

Chris will comment on plans for the future.

Executive Director - Annual Report 2023/24

1. Organisational Outcomes

Groups and Membership

We continue to provide musical ensembles across the North and West of the county with Junior and Intermediate groups for wind, brass, strings and percussion players in both areas and our two senior groups based in the West.

We have 20 active groups, up two from last year. We had two new groups opening – Pick up and play brass and pick up and play strings, saxophone ensemble is now an official WYM group. However, we had to close Warminster Young Singers as the group did not become viable quickly enough. We would like to re-open this group next year along with our brand new choir now open in Marlborough. This not only brings in new members but will also see the addition to our team of a new practitioner and a strong relationship with a secondary school in the area who will become our venue for the group. These additions will take our total to 21 ensembles available to young people of Wiltshire through 2024/25.

Individual membership as at July 2024 stood at 224. When including those that attend more than one group, this figure stands at 253.

TOTAL SUBS (inc. multi groups) TOTAL REMISSIONS	280 242 (272) 243 (270) 210 (221) 233 (251) 227 (256) 225 (246) 224 (253) 3 3 5 4 3 2 2 8

The fact that numbers are holding steady is positive and could indicate a turning point for this statistic, but it should be noted that we also have two additional groups this year compared to last year’s report and we would like to see the new groups increasing our overall membership in the longer term.

Discussions are still ongoing as to how we can best enter the growing world of popular music and electronic instruments, without losing sight of WYM’s aims and ethics. David Garcia, our new musical director has some interesting ideas and enthusiasm for this which we hope will springboard the introduction of this new genre to WYM during 2024/25.

Membership analysis

We continue to provide a clear progression route through our groups from absolute beginner through to post grade 8.

With numbers staying at a very similar level this year it’s interesting to look at numbers per Key Stage to monitor where our gains and losses have been.

The big boost we saw in Key Stage 2 last year seems to have been a slight anomaly although recruitment through this year’s LOVE TO PLAY! days was nowhere near as successful as last year, which may well be reflected in these figures. We have however seen a doubling in Key Stage 1 numbers. This is likely as a result of us expanding our offer to better reach that age group with the addition of West Wiltshire Mini Singers and our Pick Up and Play groups.

In addition to our Pick Up and Play groups, we have run our first outreach project in schools thanks to funding from the Colonel William Llewellen Palmer Educational Charity. This has allowed us to introduce 180 young people to brass instruments in the local area this year. The sessions ran in local schools in groups of no larger than 7 children for a series of at least 8 introductory sessions for each student, and we hope this will enthuse some of these youngsters to join our pick up and play groups going forward.

In last year’s report we commented on the drop in numbers in the higher key stages being symptomatic of the general drop in young people continuing to learn these instruments to a higher standard due to academic pressures. This is backed up again this year by a significant drop in Key Stage 4 members although the slight upturn in Key Stage 5 numbers is a welcome contradiction as current members move through the ranks.

Cont’d / page 7

Staffing

This year we had an addition to the team in David Knight who is currently running Pick up and Play Woodwind. David was a member of WYM for many years and having completed his training at The Guildhall school of Music and Drama, it is great to have him back as a member of the teaching team. All other tutors remain in the same positions.

Matthew Thorpe stood down from the Musical Director post in August 2024 after 9 years of being in the role. Matthew remains in place as our senior orchestra leader.

His time as Musical Director has seen many changes and one pandemic! We thank him for his efforts and will continue to liaise with him going forwards where historical information can be of use to us.

A full recruitment process has been undertaken, resulting in the appointment of David Garcia as our new Musical Director, now in post as of September 2024. David’s enthusiasm for the Wiltshire Young Musicians and knowledge of the organisation from his extensive work across four of our groups, will bring a valuable fresh perspective to the management team.

Chris Turner remains as Executive Director and Claire Emberson as administrator.

Future financial stability

With the arts council new HLO bid creating uncertainty around our main funder and a long business review and planning process by our main venue ongoing, there are still potential hurdles to navigate in the next 12 months. Whilst meetings and the arising initial discussions are positive at this stage and funding for the academic year 2024/25 is now secure, contingency plans will remain in place until the longer term outlook is clearer.

We have had success reducing our VAT liability this year and will no longer pay any VAT on rehearsal venues. We are pleased to report this now includes our main venue, over which there was much negotiation.

Our first schools’ event in Trowbridge was a success and has provided a new form of income, this will grow to 2 school events in the 24/25 academic year.

Further income from grant applications, holiday workshops, improved instrument loan scheme and increased membership is all part of the plan for the new academic year.

We are currently in discussions with GSW consortium over the expansion of WYM and its provision. We are building a new 5 year business development plan around these discussions which we hope

to begin to implement in January 2025.

Equality, Diversity and Inclusion

Our full EDI plan put in place last year has been implemented and is showing significant and recordable progress.

We now have some Statistical outcomes:

21% of our membership now consider themselves to come from backgrounds other than ‘White British’.
Eight members are currently accessing our subsidy scheme. Five of these are new to the scheme this year.
Through our pick up and play groups and mini singers, 36 young people have started a musical journey that they otherwise would not have had the opportunity to do.
171 young people from 7 schools performed in collaboration with West Wiltshire Youth Orchestra reaching a wider and more diverse audience.

Other outcomes:

Links with CAMHS have been made and discussions about how we can help the young people that they have regular contact with are ongoing.
Faith groups across the county have been contacted and invited to make links with WYM.
Regular meetings to discuss EDI plans and work collaboratively have been undertaken with WEYO, SAYM, WRM and SMC. We plan to increase this network.
More regular contact with schools and offering assemblies to local primary schools is opening our doors to a wider range of youngsters.
We now offer free tickets to events for refugee families.
All Tutors and administrative staff received training around Gendered Language this academic year.

Further parts of EDI the plan include:

Developing social events to encourage member bonding and a sense of belonging.
Improving our messaging about our subsidy policy through the website and other means.
Collecting registration information annually to keep records up to date and monitor progress.
Continually improve language to help more people to feel confident to apply.
Improving the training budget to include further EDI training for all staff.
Recording more performances and offering a live stream to make our music available to a wider audience.
Adapting ensemble repertoire to encourage a more diverse membership.

Wiltshire Music Centre, Ashley Road, Bradford on Avon, Wiltshire, BA15 1DZ • Telephone 07835 764218 • Registered charity 1000800

www.wiltshireyoungmusicians.org.uk •[info][@][wiltshireyoungmusicians.org.uk ]

Building groups around keyboard, guitar and electronic music to increase our genre offer.
Meeting with further charities and youth organisations to discuss EDI and review our EDI plan once complete.

2. Budget

There are some differences from our original budget compared with the actual figures for 2023/24 which are worth noting.

Income:

Subscription income is down on the budget by £4500 but is still £3500 up on last year’s figure.
‘Donations’ were £3000 higher than expected.
Bank interest is £1200 higher than budget thanks to a new savings account taking advantage of currently higher interest rates.
The school event figures are larger on both sides, resulting in a similar outcome to the bottom line.
Music hub funding was significantly higher than budget to include a final payment from 2022/23 AY outstanding and an additional grant for West Wiltshire Young Singers to travel to Birmingham.

Expenses:

The board did not take the expected professional advice around contracts and so ‘professional and legal’ costs are down by £1200.
Tutor payments exceeded budget, mainly due to outreach costs which were fully funded by the Colonel William Llewellen Palmer Educational Charity grant.
Savings on Venues are starting to take hold, these came in at £1200 under budget this year.
All other general expenses came in slightly under budget with no significant deviations.

Financial summary 2023/24

We budgeted for a loss of £10,986 in 2023/24 but actually had a smaller deficit of £4,437. These figures are far more reflective of the current status of WYM than in last year’s annual report which had skewed figures from income outstanding from 2021/22. We Currently have a balanced budget for the 2024/25 academic year. Whilst this is a significant achievement given the current economical climate and uncertainties, in order to achieve a second consecutive balanced budget in 2025/26, further income generation will be required.

3. Areas for development

Marketing – There is still work to be done around improving our marketing and visibility.
Expand outreach project in schools to strings, woodwind, percussion and potentially new genres around electronic music. Expansion here is also needed geographically and further funding will be required.
Under our new musical director we plan to begin holiday workshops as a way of recruiting permanent members and as an additional income stream.
We need to improve our membership database to record further statistical outcomes.
We will be looking to improve our volunteer base to help implement the fundraising strategy through a designated fundraising committee.
Developing further the instrument loan scheme will go alongside discussions with the new music hub for Wiltshire.
School events will increase to two areas of the county in 2024/25 and should grow further in subsequent years.
Providing a popular and electronic music offer is now key to the development of Wiltshire Young Musicians.

Thanks

On behalf of the Wiltshire Young musicians’ team and all its members, I would like to thank the tutors and office team for their continued hard work, and, the board and all our volunteers for their efforts, dedication and governance.

APPENDIX 1 Concert Audiences

CHRISTMAS
FESTIVAL(13:30)
CHRISTMAS
FESTIVAL(19:30)
LOVE TO PLAY! STRINGS 112
LOVE TO PLAY! W & B
SENIOR CONCERT 137
SUMMER FESTIVAL
(C’HAM)
SUMMER FESTIVAL
(13:30)
SUMMER FESTIVAL
(19:30)
SCHOOL EVENT
TROWBRIDGE
TOTAL
AVERAGE 147

Total
Tickets
Conc.
Total
Tickets
Conc.
Total
tickets
Conc.
Total
tickets
Conc.
Total
tickets
Conc.
192
37
168
25
204
34
209
28
198
18
170
26
200
34
134
24
133
20
248
35
LOVE TO PLAY! STRINGS 112
22
121
25
121
26
225
46
214
49
89
16
120
26
113
29
160
31
118
23
SENIOR CONCERT 137
22
129
22
126
21
171
31
160
25
127
15
91
15
110
13
149
16
144
30
152
25
208
33
119
21
139
27
203
37
105
17
144
25
169
27
138
17
120
16
237
0
Na
na
na
na
na
na
na
na
1321
180
1181
205
1096
195
1324
216
1405
233
AVERAGE 147
20
148
26
137
24
166
27
176
30

Report to the members of: Wiltshire Young Musicians

On accounts for the year ended:		31 July 2024
Respective responsibilities of	The Treasurer as appointed by Wiltshire Young Musicians
trustees and examiner	is responsible for the preparation of the accounts. The
	Charity consider that full in depth audit is not required for
	this year and that a thorough independent examination is
	needed.

It is my responsibility to:	It is my responsibility to:
•	examine the accounts.
•	confirm that the figures present a true and fair view of
	the position.
•	to state whether particular matters have come to my
	attention.

Basis of independent examiner’s My examination was carried out in accordance with general statement Directions given by the Wiltshire Young Musicians and Accountancy bodies. 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 seeking explanations from the Treasurer concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Partners: Sam Gooding FMAAT FMATT FIAB Katy Gooding BSc FCA Company No: 09087439 Registered in England and Wales as ; Gooding Accounts Ltd Registered Office : 24 Warminster Road, Westbury, Wiltshire, BA13 3PE

Independent examiner's statement

In connection with my examination, no matter has come to my attention

which gives me reasonable cause to believe that in, any material respect, the requirements:
to keep accounting records in accordance with regular accounting procedures.
to prepare accounts which accord with the accounting records and comply with the necessary accounting requirements of the Wiltshire Young Musicians.
have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
which would give rise to any concern in relation the full disclosure of all financial matters in relation to the Wiltshire Young Musicians.

Signed: Date: 04/11/2024 ~~[Katy Gooding | |__|~~ Name: Katy Gooding ~~po~~

Relevant professional ICAEW qualification(s) or body:

Address: Gooding Accounts Ltd 24 Warminster Road, Westbury Wiltshire BA13 3PE

Management Report

Wiltshire Young Musicians For the period ended 31 July 2024

Prepared by Gooding Accounts Ltd

Prepared on 4 November 2024

For management use only

Financial Activities...........................................................................................................................................3 Balance Sheet .................................................................................................................................................5

2/6

Financial Activities

August 2023 - July 2024

Financial Activities August 2023 - July 2024
		Total
	Aug 2023 - Jul 2024	Aug 2022 - Jul 2023(PP)
INCOME
4110 Grants	2,500.00	6,884.00
Concert Income	2,400.00
4170 Programme Sales		90.00
April Concert Sales		1,103.39
Love to Play - concert income	1,579.50	1,534.00
Senior Concert Income	1,520.00
Summer Concert	991.53
Summer Concert Sales	288.02	3,140.00
Summer Concert Sales 2023		3,421.19
Total Summer Concert Sales	288.02	6,561.19
Xmas Concert	3,225.00	3,350.00
Total Concert Income	10,004.05	12,638.58
Donations	3,045.37
Fundraising	1,514.68	2,257.19
BFMD		20.38
Fund Raising Easyfundraising	20.52	30.63
Sponsorship	100.00	70.00
Total Fundraising	1,635.20	2,378.20
Gift Aid	7,274.65	8,793.45
Instrument Hire	3,090.00	2,445.00
Love to Play Strings Day - workshop fee	121.00	154.00
Love to PlayStrings DayNorth Wilts - workshopfee	60.00
Total Love to Play Strings Day - workshop fee	181.00	154.00
Love to Play Wind Day - workshop fee	165.00	146.88
Subscriptions Received	28,680.75	23,679.80
Subscriptions Received (PayPal)	3,196.89	4,007.18
Unapplied Cash Payment Income	1.00	0.00
Wiltshire Music Connect Grant	24,037.75	26,587.00
Total Income	83,811.66	87,714.09
GROSS PROFIT	83,811.66	87,714.09
EXPENSES
6120 Bank Service Charges		47.16
6140 Gifts and Donations		100.00
6180 Insurance	685.92	830.42
6230 Licenses and Permits		40.00
6250 Postage and Delivery	2.70
6260 Printing and Reproduction		269.50
6270 Professional Fees
6280 Legal Fees		330.00

3/6

Wiltshire Young Musicians

		Total
	Aug 2023 - Jul 2024	Aug 2022 - Jul 2023(PP)
6650 Accounting	252.00	240.00
Total 6270 Professional Fees	252.00	570.00
6335 Software Expense	712.32	458.42
6340 Telephone
6341 Mobile	30.00	70.00
Total 6340 Telephone	30.00	70.00
6550 Office Supplies		4.75
Advertising		733.40
Company Admin	73.35	27.60
Concert Expense	500.00
April Concert		496.36
Love to Play concert expense	1,609.32	1,578.72
School Event	832.20
Senior Concert Expense	1,009.73
Summer Concert Expenses	388.50	2,758.45
Xmas Concert	1,327.14	1,291.20
Total Concert Expense	5,666.89	6,124.73
Directors and Administrators
Administration	9,900.00	9,900.00
Executive Director	12,000.00	12,000.00
Musical Director	3,300.00	4,950.00
Total Directors and Administrators	25,200.00	26,850.00
Event Expense	1,440.00	18.00
Instrument Repairs	10.00	88.35
Photocopying	33.84
Rehearsal Rooms	17,575.30	17,744.02
Stationery	47.26
Training	566.00	195.76
Tutors	37,661.44	29,240.02
Website		442.07
Total Expenses	89,957.02	83,854.20
NET OPERATING INCOME	-6,145.36	3,859.89
OTHER INCOME
7010 Interest Income	1,791.70	582.14
Total Other Income	1,791.70	582.14
OTHER EXPENSES
8010 Other Expenses	83.58
Total Other Expenses	83.58	0.00
NET OTHER INCOME	1,708.12	582.14
NET INCOME	£ -4,437.24	£4,442.03

4/6

Wiltshire Young Musicians

Balance Sheet

As of July 31, 2024

Balance Sheet As of July 31, 2024
		Total
	As of Jul 31, 2024	As of Jul 31, 2023(PP)
FIXED ASSET
Tangible assets
Instruments
Additions in the Year	0.00	91.67
Costs B/fwd	146,093.64	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
65579836 Natwest Liquidity Manager 35 day	46,165.32
Nat West Business Reserve	8,744.86	60,027.66
Nat West Capital Reserve	5,759.99	5,677.13
Nat West Current a/c	100.00	100.00
Soldo(deleted)	0.00	27.62
Total Cash at bank and in hand	60,770.17	65,832.41
NET CURRENT ASSETS	60,770.17	65,832.41
NET CURRENT ASSETS(LIABILITIES)	60,770.17	65,832.41
TOTAL ASSETS LESS CURRENT LIABILITIES	206,863.81	211,926.05
TOTAL NET ASSETS (LIABILITIES)	£206,863.81	£211,926.05
CAPITAL AND RESERVES
1110 Retained Earnings	61,549.82	57,107.79
3000 General Fund	145,959.75	145,959.75
Steel Pans Tutors fund	3,791.48	4,416.48
Profit for theyear	-4,437.24	4,442.03
Total Capital and Reserves	£206,863.81	£211,926.05

5/6

Wiltshire Young Musicians

The Financial Statements were approved by the Trustees on _____.

______ Trustee

Wiltshire Young Musicians

6/6

Report to the members of: Wiltshire Young Musicians

On accounts for the year ended:		31 July 2024
Respective responsibilities of	The Treasurer as appointed by Wiltshire Young Musicians
trustees and examiner	is responsible for the preparation of the accounts. The
	Charity consider that full in depth audit is not required for
	this year and that a thorough independent examination is
	needed.

It is my responsibility to:	It is my responsibility to:
•	examine the accounts.
•	confirm that the figures present a true and fair view of
	the position.
•	to state whether particular matters have come to my
	attention.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

which gives me reasonable cause to believe that in, any material respect, the requirements:
to keep accounting records in accordance with regular accounting procedures.
to prepare accounts which accord with the accounting records and comply with the necessary accounting requirements of the Wiltshire Young Musicians.
have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
which would give rise to any concern in relation the full disclosure of all financial matters in relation to the Wiltshire Young Musicians.

Signed: Date: 04/11/2024 ~~[Katy Gooding | |__|~~ Name: Katy Gooding ~~po~~

Relevant professional ICAEW qualification(s) or body:

Address: Gooding Accounts Ltd 24 Warminster Road, Westbury Wiltshire BA13 3PE

Management Report

Wiltshire Young Musicians For the period ended 31 July 2024

Prepared by Gooding Accounts Ltd

Prepared on 4 November 2024

For management use only

2/6

Financial Activities

August 2023 - July 2024

Financial Activities August 2023 - July 2024
		Total
	Aug 2023 - Jul 2024	Aug 2022 - Jul 2023(PP)
INCOME
4110 Grants	2,500.00	6,884.00
Concert Income	2,400.00
4170 Programme Sales		90.00
April Concert Sales		1,103.39
Love to Play - concert income	1,579.50	1,534.00
Senior Concert Income	1,520.00
Summer Concert	991.53
Summer Concert Sales	288.02	3,140.00
Summer Concert Sales 2023		3,421.19
Total Summer Concert Sales	288.02	6,561.19
Xmas Concert	3,225.00	3,350.00
Total Concert Income	10,004.05	12,638.58
Donations	3,045.37
Fundraising	1,514.68	2,257.19
BFMD		20.38
Fund Raising Easyfundraising	20.52	30.63
Sponsorship	100.00	70.00
Total Fundraising	1,635.20	2,378.20
Gift Aid	7,274.65	8,793.45
Instrument Hire	3,090.00	2,445.00
Love to Play Strings Day - workshop fee	121.00	154.00
Love to PlayStrings DayNorth Wilts - workshopfee	60.00
Total Love to Play Strings Day - workshop fee	181.00	154.00
Love to Play Wind Day - workshop fee	165.00	146.88
Subscriptions Received	28,680.75	23,679.80
Subscriptions Received (PayPal)	3,196.89	4,007.18
Unapplied Cash Payment Income	1.00	0.00
Wiltshire Music Connect Grant	24,037.75	26,587.00
Total Income	83,811.66	87,714.09
GROSS PROFIT	83,811.66	87,714.09
EXPENSES
6120 Bank Service Charges		47.16
6140 Gifts and Donations		100.00
6180 Insurance	685.92	830.42
6230 Licenses and Permits		40.00
6250 Postage and Delivery	2.70
6260 Printing and Reproduction		269.50
6270 Professional Fees
6280 Legal Fees		330.00

3/6

Wiltshire Young Musicians

		Total
	Aug 2023 - Jul 2024	Aug 2022 - Jul 2023(PP)
6650 Accounting	252.00	240.00
Total 6270 Professional Fees	252.00	570.00
6335 Software Expense	712.32	458.42
6340 Telephone
6341 Mobile	30.00	70.00
Total 6340 Telephone	30.00	70.00
6550 Office Supplies		4.75
Advertising		733.40
Company Admin	73.35	27.60
Concert Expense	500.00
April Concert		496.36
Love to Play concert expense	1,609.32	1,578.72
School Event	832.20
Senior Concert Expense	1,009.73
Summer Concert Expenses	388.50	2,758.45
Xmas Concert	1,327.14	1,291.20
Total Concert Expense	5,666.89	6,124.73
Directors and Administrators
Administration	9,900.00	9,900.00
Executive Director	12,000.00	12,000.00
Musical Director	3,300.00	4,950.00
Total Directors and Administrators	25,200.00	26,850.00
Event Expense	1,440.00	18.00
Instrument Repairs	10.00	88.35
Photocopying	33.84
Rehearsal Rooms	17,575.30	17,744.02
Stationery	47.26
Training	566.00	195.76
Tutors	37,661.44	29,240.02
Website		442.07
Total Expenses	89,957.02	83,854.20
NET OPERATING INCOME	-6,145.36	3,859.89
OTHER INCOME
7010 Interest Income	1,791.70	582.14
Total Other Income	1,791.70	582.14
OTHER EXPENSES
8010 Other Expenses	83.58
Total Other Expenses	83.58	0.00
NET OTHER INCOME	1,708.12	582.14
NET INCOME	£ -4,437.24	£4,442.03

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Wiltshire Young Musicians

Balance Sheet

As of July 31, 2024

Balance Sheet As of July 31, 2024
		Total
	As of Jul 31, 2024	As of Jul 31, 2023(PP)
FIXED ASSET
Tangible assets
Instruments
Additions in the Year	0.00	91.67
Costs B/fwd	146,093.64	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
65579836 Natwest Liquidity Manager 35 day	46,165.32
Nat West Business Reserve	8,744.86	60,027.66
Nat West Capital Reserve	5,759.99	5,677.13
Nat West Current a/c	100.00	100.00
Soldo(deleted)	0.00	27.62
Total Cash at bank and in hand	60,770.17	65,832.41
NET CURRENT ASSETS	60,770.17	65,832.41
NET CURRENT ASSETS(LIABILITIES)	60,770.17	65,832.41
TOTAL ASSETS LESS CURRENT LIABILITIES	206,863.81	211,926.05
TOTAL NET ASSETS (LIABILITIES)	£206,863.81	£211,926.05
CAPITAL AND RESERVES
1110 Retained Earnings	61,549.82	57,107.79
3000 General Fund	145,959.75	145,959.75
Steel Pans Tutors fund	3,791.48	4,416.48
Profit for theyear	-4,437.24	4,442.03
Total Capital and Reserves	£206,863.81	£211,926.05

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Wiltshire Young Musicians

The Financial Statements were approved by the Trustees on _____.

______ Trustee

Wiltshire Young Musicians

6/6

Chair of Committee Report

Wiltshire Young Musicians

Treasurers’ Report August 2023 to July 2024

Income and Expenditure

Balance Sheet

Executive Director - Annual Report 2023/24

1. Organisational Outcomes

Membership analysis

Staffing

Future financial stability

Equality, Diversity and Inclusion

Other outcomes:

2. Budget

Income:

Expenses:

Financial summary 2023/24

3. Areas for development

Thanks

APPENDIX 1

Concert Audiences

Independent examiner's statement

Management Report

Table of Contents

Financial Activities

Balance Sheet

Independent examiner's statement

Management Report

Table of Contents

Financial Activities

Balance Sheet