Merton (Omusic Foundation Annual Report ,r_ and 'ricial Étatttments Fortheyear Ende 31 August 2024 Charity registration number: 1004122 Company registration nurnber: 02590621 (England and Wales)
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 Contents CHAIR'S INTRODUCTION . REFERENCE ANDADMINISTRATIVE DETAILS................................ TRUSTEES, REPORT.................................. STATEMENT OF TRUSTEES, RESPONSIBILITIES.......................... 19 INDEPENDENT AUDITOR'S REPORT........................................... 20 STATEMENT OF FINANCIALACTIVITIES....................................... 24 BALANCE SHEET....................................................................... 25 STATEMENT OF CASH FLOWS.................................................... 26 NOTESTOTHE FINANCIALSTATEMENTS.................................... 27
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 CHAIR'S INTRODUCTION CHAIR OF TRUSTEES September 2023- August 2024 This pastyearwas a period of intense planningand developmentfor Merton Music Foundation IMMFI, in the context of significant change in the music education sector through the Hub Lead Organisation re-tendering process. Throughout this time, MMF continued to deliver an increasingly impactful and diverse programme of high-quality regular activity, special projects and events in schools and music centres across Merton. The Foundation's far reaching and inclusive provision was exemplified in March 2024 bya triumphant return to performing atthe Royal Albert Hallfor our biennial'music is for Life, concert with c. 1500 Merton children. This year also saw the conclusion of a three-year improvement cycle, centred around the Foundation's Self-Evaluation and Improvement Plan (SEIP) 2021-2024. Trustees were pleased to review the final outcomes of this thorough process. which demonstrated a significant development towards the Foundation's 8ims, particularly in relation to being'an inclusive cultural organisation,. Trustees have approved a one-year SEIP to be implemented between September 2024- August 2025 in th8 context of a changing national landscape and the planned appointment of a new Chief Executive from January 2025. It was another busy year of performances and special projects. We were delighted to return to the Wimbledon Championships with our senior concert band and jazzorchestra to perform forvisitors at the semi-finals. as has been a tr8ditionforthe organisation forovertwo decades. Other highlights included our first youth-led summer festival event, 'Summer of Songs,, coordinated ably by members of our Youth Council and a hugely successful tour to the Loire Valley in France for members of our guitar & string ensembles, choirs, concert bands and jazz orchestras. We successfully adapted to new reporting requirements following the implementation of the new National Plan for Music Education, with positive feedback from Arts Council England in relation to th8 Foundation's performance. We were also ple8sed to begin delivery of'mini Musicians,, an ambitious £250ktwo-year KS1 music partnership programme, founded on best inclusive principles and practice. Th8 organisation responded quickly and adaptably to the national hub restructure, working closely in partnership with the six other existing HLO'S in London Southwest to form a new entity, SWL Music, in order to navigate this transition whilst protecting fundingfor frontline provision with children andyoung people. Looking ahead to 2024125, more change is on the horizon as weadapt to 8 new national Music Hub structure and appoint a new Chief Executive, onlythe third personto hold this position in the Foundation's 34-year history. l am confidentthat MMFwill continue to adapt and thrive, supporting children and young people locally to find their first notes and flourish as young musicians for many years to come. FinaLly. I would like to thank my fellow Trustees for their support and input over these last 12 months. In recent years, we have successfully diversified our board mernbership in line with our efforts to be an incLusive cultural organisation and it is notable how much more insightful land interestingl our board meetings have become since adding the newvoices.
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 Signed: L, Edward Hickman Chair of Trustees Dated: 23 June 2025
MERTON MUSIC FOUNDATION Annual Report of the Trustees forthe Year Ended 31 Aug 2024 REFERENCE AND ADMINISTRATIVE DETAILS MERTON NUSIC FOUNDATION Trustees Edward Hickman Emma Trevelyan lan Bond Kenisha Fuller (appolnted 25 Nov 20241 Kingsley Green Manish Solanki Mia Liyanage Prrajesh Varathan {appointed 25 Nov 20241 Rowena Maybury Sebastian Jones Secretary Mr L Meechan Charlty Number 1004122 Company Number 02590621 Regist8r8d Off Ice clo Merton Abbey School High Path London SW19 2JY Auditor WSM Advisors Limited Connect House 133-137 Alexandra Road Wimbledon, London SW19 7JY
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORTI The trustees are pleased to present their annual trustees reporttogether with the financial staternents of the charity for the year ending 31 August 2024. which are also prepared to meet the requirernents for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice 8pplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. The legal and administrative information set out on Page 3 forms part of this report. The Foundation's trustees, both current and those who served during the year, are noted on Page 3. OBJECTIVES AND Ac.I[lI Charltable Object 'To 8dv8nce music educ8tion withln a framework of the 8rts for the benefitof th8 public of the London Borough ofmerton and elsewhere,. Ourvlslon A borough where music resonates along the corridors of every school and echoes throughout the comrnunity. A place of aspiration where every child can find their first notes, make progress and flourish as a young musician. Weaim to be: Acentre of learning and a musical launchpad, unlockingtalent both now and in the future An asset to our community and an ambitious supporter of every child's creativity An inclusive cultural organisation - not just in what we s8y, but also in what we do To achievethis, we must be DIVERSE: Dynamic I Inquisitive / Values-Led / Effective l Resilientl Self-Accountable / Engaging Our Values Commitment: We always aim for better. We encourage, challenge and support 8ach other. Courage: We WILI be brave, persevere and take risks together. Joy: Music is for life - Music is life. Happiness should permeate everything we do. Our Nisslon Our rnission is to encourage participation, enjoyment and achievetnent by providing the highest quality learningopportunities in music and the performing arts.
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 Music Hubs Music Hubs (Hubs) are groups of organisations workingtogether in partnership to deliver high-quality music provision for all children and young people. Hub partnerships are coordinated by a Hub Lead Organisation (HLO), that is responsible for supporting, delivering and enabling the work of the Hub. Music Hubs pl8y a critical role in fulfillingthe vision and goals as set out in the N8tion81 Planfor Music Education INPMEI, a document originally published in 2011 followinga thorough review of music education undertaken by Darren Henley and later re-published in 2022 under its new title: 'The Power of Music to Change Lives,. The Music Hub programme is paid for using Department for Education funding and overseen by Arts Council England {ACEI. Hub Laad Organlsation (HLO) Restructure During 2023-2024, Music Hubs in England underwent a process of reorganization reducing from 117 Hubs in 2023 to just 43 by September 2024via a competitive process. In June 2023, DfE announced the revised Music Hub geographical areas, which included the creation of a new'London Southwest, Hub encompassingthe boroughs of Croydon, Hounslow, Kingston, Nerton, Richmond, Sutton and Wandsworth. During the year ended 31 Aug 2024, MMF collaborated with existing HLOS across the seven SW London boroughs to jointly bid to lead the London Southwest Music Hub. The seven services agreed to create a new company'SWL Music, to act as the HLO to ensure a flatstructure of le8dership in which each organisation retains its sovereignty. Doing so limited the potential impact of the retendering process on resources available to the front-line via top-slicing of funding. SWL Music was incorporated and a Board of Directors appointed, with the Head of Service I Chief Executive of each of the seven consortium member organisations functioning as the non-voting Executive Leadership Te8m. 2023-24 was therefore the last year that MMF functioned as a Hub Lead Organisation, from September 2024 it will be a Local Delivery Partner and Consortium Member of the new Hub. Performance Framework 2023-24 During 2023-24, MMF undertook a self-evaluation against a newPerformance Framework for Music Hubs devised by Arts Council England as part of its ongoing Funding Agreement requirements. The new framework identified seven Performance Areas. Each area was to be scored against the progressive ratings: 'Developing', 'Emerging', 'Eng8ging' and 'Stretching'. Performance Areas (and MMF self-assessment, Sept 2023) Programme of Activity {Stretching) Quality (Engaging) Partnerships (Engaging) Schools (Engaging) Progression and Musical Development (Engagingl I nclusion (Stretching) Sustainability (Engaging) MMF'S self-evaluation scores were all approved by ACE with no armends. The Performance Framework will be reviewed and re-published for use by new HLOS in 2024-25.
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 National Plan for Music Education 2022 (NPME) The NPNE introduces three aims and five strategic functions of Hubs, effective from Sept 2023. Aims: Support schools and other education settings to deliver high-quality music education Support young people to develop their musical interests and talent further, including into employment Support all children and young people to engage with a range of musical opportunities in and out of school Str8tegic Functions: Partnership.. Take a leading role in building8 SUSt8in8ble, local infr8Structure for high-quality music education and music-making, in partnership with schools, e8rlyyears 8nd ofher education providers, communitymusic organisations, and other regional and nationalyouth music organisations and industry. C8Pture this offer in a Loc81 P18n for Music Educ8tion. Schools.. Support all state-funded schools in their area through ongoingrelationships to help them deliver high-qualitymusic education, includinga qualitycurriculum support offer, specialist tuition, instruments and ensembles,. and 8 broad range of progression routes and musical experiences forall pupils. Progression and Musical Development." Support Ghildren and youngp8ople to develop and progress with music, indulging into national or speci81istopportunities, higher education and employment, so that the chance to be involved in high-qualirymusic-m8king is shared more widely in oursociety. Support children andyoungpeople to access th6 wiser world of music, including live performance and communitymusic. Inclusion." Drive broad access to music education, so everychild has the opportunity to participate irrespective of their circumstances. background, where they live or their SEND. Sustainability. Ensure the strategic, financial, and operational sustainabilityof the Music Hub by.. (i) supporting a dynamic and well-trained workforce, (li) lever8ging DfE funding to develop wider investment into youngpeople's music from a range ofsources and revenue streams,. (iii) beingaccountable and transparent bypublishingplans, needs analysis and impact data,. and (iv) considering and acting on the Hub's environmental responsibilities.
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 2023-24 Partners The overriding aims of our partnerships continue to be to broaden and increase the opportunities for music rnakingfor all children and young people in the region, regardless oftheir background or personal circumstances. to make decisions on the basis of need and raise standards of provision to the highest levels possible. 2023124 Partners List: 5Aside ABRSM AIIEngiand Lawn Tennis Championships Attic Theatre Black Lives in Music Blues and Roots Ensemble Canons House /Vestry Hall Clarion Housing Crown Lane Studio Green Arts Jazz at Lincoln Centre Kings College School Lantern Arts Centre Sing Up London Music Fund St John's Church Merton Abbey Primary School Sutton Music Centre Merton Council The Jack Lonergan Foundation Music Mark The Sherwood School National Youth Choirs The University of Roehampton New Wimbledon Theatre Trinity College London Open Orchestras Wimbledon Bookfest Orchestra of the Age of Wirnbledon Choral Society Enlightenment Wirnbledon College Polka Theatre Wirnbledon International Music RAM Productions FestiV81 Royal Albert Hall Wirnbledon Community Chorus Dellvery Executive responsibility for delivery rests with the Chief Executive and the Senior Leadership Team, which during 2023-24 was made up of three full-time employees and one part-time employee of the Foundation and to whom all other employees report either directly or indirectly. Core team staff support the function of MMFthrough the administration team, stewards and middle leaders group. They all support the tutor workforce which numbers over 90 tutors from differing genres and instrumental families. Volunteers We continueto work closelywith our parents, charitythe Friends of Merton's Young Musicians (FMYN). The Friends meet regularly to administer the affairs of their charity, to arrange fundraising events to support the work of Merton Music Foundation, and to help with concerts and other events provided by our charity. During 2023-24 we further developed how MMF works with volunteers by embedding a Duke of Edinburgh scheme at our Saturday Music Centre, South Wimbledon and implementing a work experience placement scheme. Two young people joined us during this year on placements for work experience: supporting us with logistics of preparing instruments forthe new academic year, whilst also developing their skills and experience in the workplace. Volunteers supported many of the Foundation's concerts and eventsthis year, notably by acting as Chaperones to comply with Child Performance Licensing requirernents.
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 Delivering Our Charitable Purpose We h8ve referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in deciding what activities the charity should undertake for the followingfinancial year. Senior and middle leaders regularly review the Foundation's progress via its Self-Evaluation and Improvement framework. Twelve Strategic Priorities (SMART Objectives) are agreed for the year, m8pped against the three central aims of our Vision. These are then disti118d into an Action Plan which Is updated and re-published online regularly. We also regularly review our aims, objectives and activities annu811y through our Local Plan for Music Education via a Needs Analysis and regular reporting to Arts Council England. The review examines our achievements and the outcomes of our work over the past twelve months against a Performance Fr8mework. It also looks at the success of each of the National Pl8n's Str8tegic Functions for Hubs and the benefits that have been brought to the various groups of people we work with. The review helps us ensure that our aims, objectives and activities remain focused on our stated charitable purpose. Over the course of the year, we have had termly whole staff reviews across the organisation of our SMART Objectives and three-ye8r self-improvement planning. This has enabled us to embed our Vision and Values and place that at the core of our charitable endeavors and with investment in our website, to make this more publicly transparent and visible. 2023-24 marked the end of a three-year improvement planning cycle. Self-evaluation scores demonstrated progress against all three core aims of MMF'S Vision, with the most significant progress 8g8inst the objective of being'an inclusive culturalorganization- notjust in what we say, but also in what we do. The averaged overall self-evaluation score rose from '6110, in April 2021 to '8110, In July 2024. Public Benefit The Trustees of Merton Music Foundation have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to public benefit guid8nce published by the Charity Commission. The Trustees believe that the organisation conforms readily to the public benefit requirements of the Charity Commission. The reasons for this belief are characterized by our charitable objective: "To advance music education within a framework of the arts for the benefit of the public of the London Borough of Merton and elsewhere" which clearly demonstrates public benefit in advancing and promoting the importance of rnusic education. The advocacywork that MMF does is of potentialbenefitto all individuals, schools and its partnership organisations, by helping to create a learning environment in which live music making can flourish and be available to participants and audiences in the local community that the charity serves. The key focus for MMF'S work: music education through a framework of the arts, are both defined within the Charities Act 2006 as charitable activities and as such both directly benefit the public.
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 The main activities of the charity, and those we try to help, are those for children and young people in and around the London Borough of Merton to whom we aim to provide musical opportunities of the highest standard. All the Foundation's projects are centered on children and young people, some of whom are 'hard to reach,, have additional needs, disadvantaged backgrounds or challenging circumstances. Financial assistance is notjust limited to students of families whoqualifyfor8SSlStance from the Free School Meals criteria. The Trustees recognise that there are many barriers young people face to participation, particularly young people from historically under-represented and marginalised groups. Mediumllow-income families, above the threshold for income-based benefits are still contending with the rising cost of living, particularly in London. There is under-representation of people of Black Heritage, people that identify as LGBTQIA+, and people with additional learning needs in the wider music industry. Building on MMF'S 'Be More Charity, initiative, during 2023-24 Trustees approved the creation of 8 new charitable programme: TEMPO Fund (Training, Education, Musical Progression & Opportunity). TEMPO will be the overarching name given to the Foundatlon's financial asslstance programm8 and its growing programme of activity to address systemic barriers to participation and historic under- representation of targeted groups. The Trustees have therefore satisfied themselves that Merton Music Foundation meets the public benefit requirements and they confirm that they have taken due regard of the Charity Commission's general guidance on public benefit.
MERTON MUSIC FOUNDATION Annual Report of the Trustees forthe Year Ended 31 Aug 2024 Partnerships During 2023-24, MMF collaborated with its partners on a range of activity for the benefit of Merton children and young people, including: Our'music is for Life, Royal Albert Hall schools, concerttook place in March 2024, reaching almost 1500 children from over 20 Merton schools. This is the first of these concerts the Foundation has delivered since the COVID pandemic, drawingon inputfrom partners includingthe Orchestra of the Age of Enlightenment, Blues and Roots Ensemble, RAM Productions, The Jack Lonergan Foundation, Nationalyouth Choirs and Crown L8ne Studio. 'Mini Musicians, was devised and launched in 10 Merton primaryand special schools. Thls two-year programme will be delivered in partnership with The University of Roeh8mpton, Sing Up and Trinity College London, funded by Merton Council, Over 650 children have already benefitted frorn weekly specialist music teaching and a bespoke Scheme of Learning devised based on the Sounds of Intent framework. Over 300 children will be studied over the course of the programme in orderto understand the impact of teaching on their musical and wider academic attainment. Provision at Soundwave, Mitcham continued to be developed in 2023-24 in partnership with The Jack Lonerg8n Found8tion, including fourfully funded free first access class groups Including music technology and DJ teaching. The 'Friday Afternoon Blues, project with Kings College Schoolw8s delivered, supporting over 40 children from both KCS and Merton Abbey Primary Schoolto engage in a peer mentoring project focussed around jazz music and improvisation, culmlnating in performance. School8 The Foundation maintains excellent relationships with 8ll of Merton's maintained schools and engaged with 96% of schools during the 2023-24 school year via instrumental andlor whole-c18SS teaching, CPD or project-work. Locally, schools face increasing financial pressures and there has been a marked decrease in the numberof music specialistteachers in Merton schools (currently, c. 200/0 of Merton Primaries have a music specialist compared to c. 60% in 20151. Nationally, schools have been encouraged to create School Music Development Plans ISMDPS) in response to the National Plan for Music Education. MMF worked to support schools on both of these fronts: through regular in person school visits and CPD I support sessions to audit provision; and via our'ln2Music' whole class teaching programme. MMF'S first-access provision in schools continues to be delivered in an adaptable way, encompassing traditional models of Whole-class Ensemble Tuition (WCET, now also known as Classroom InstrumentaL Learning- CIL) alongside General Musicianship delivery and Planning, Preparation and Assessment (PPA) release time for teachers. This flexibility helps to ensure wide participation in the programme and access to specialist provision in settings where this isn't available in-house, whilst also navigating increasingly stretched school budgets.
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 MMF delivered three Primary Music Coordinator Network Meetings lone per term) in 2023-24 and 8 Secondary Heads of Department professional development and networking event in partnership with Crown Lane Studio. Engagement in these sessions is consistent: 530h of primary music leaders attend8d at least one session with many school music leaders returning regularly. 47¥0 of primary school rnusic Leaders didn't engage with these sessions, however in many of these contexts bespoke training was delivered in-school by MMF. We continue to liaise closely with schools to identify need and ensure programming is effective. Progression and Muslcal Development 1954 pupils participated in individual, small group or large grouplclass activities with MMF in 2023- 24. A further 299 children and young people participated in an ensemble duringthistime. The Foundation delivered or supported whole-class instrumental andlor General Musicianship learning for 4515 children through weekly lessons of at least one term, with the rnajority participating in MMF- led direct deliveryforthe full 8cademic year. Approximately5,500 Merton school children participated in a MMF-led Special Project 2023-24. Therefore, during this year the Foundation reached an estimated 12,000 young people through its Programme of Activity. Stand8rds Achieved (pupils receiving individual or group lessons, via MMF): Entry,. Pre-level 1 RQF I Initial I Prep Foundation,. Level l RQF / Grade 1-3 Intermediate: Level 2 RQF / Grade 4-5 Advanced: Level 3 RQF l Grade 6 and above ils for which the standard achieved is unknown 935 571 112 63 273 Total 1954 The Foundation continued to offer a range of Progression Routes to enable children and young people to'find theirfirst notes, make progress and flourish as a young musician,, in-line with its Vision. This includes 21 ensembles delivered as part of our Music Centre provision. Ensembles are divided into strands (guitar, strings, voice, concert band, jazz ensemble, percussion group, rocklpopl, with tiered levels to enable access and progression for learners of all abilities (beginner, intermediate, advanced). Music Technology and DJ provision continued to grow at oursoundwave site in Mitcham, with access to these groups fully subsidized by The Jack Lonergan Foundation. Four new rock & pop ensembles were created in 2023-24 under a new non-formal learning progression route, called 'Amplity'. We continue to offer an instrumental hire service to both schools and individuals. C. 1000 instruments were loaned to Merton schools for first-8ccess provision in 2023-24 and 538 instrument hire contracts were issued to individuals, with typically c. 200 instruments on loan to individuals at any given time. The Foundation maintains a stock of mostly beginnerand intermediate instruments of various sizes, enabling learners to upgrade as they progress musically and grow. We continue to off er financial assistance based on Free School Meals eligibility for instrumental hire. 12
MERTON MUSIC FOUNDATION Annual Report of theTrustees forthe Year Ended 31 Aug 2024 Inclusion We continue to prioritise our vision aim to be 'an inclusive cultural organization- notjust in what we say, but also in what we do,. Specific objectives linked to this in 2023-24 were.. to review the Foundation's Financial Assistance offer; to diversify MMF'S ensemble provision; to expand on subsidised and free-to-access programmes at Soundw8ve Music Centre in the East of the borough; and to meaningfully incorpor8te Youth Voice into strategic planning around environmental sustainability. Good progress was made against all these objectives, as outlined in our 2024-25 Action Plan. We planned and launched'mini Musicians, this year, in partnership with Merton Council, Sing Up and The University of Roehampton. This innovative KS1 teaching programme will be delivered in 10 Merton primary and specialschools over a two-year period reaching c. 650 children and encompassing a significant research study looking8t pupils, musical and wider academic attainment. A bespoke Scheme of Learning has been developed by MMF, based on the Sounds of Intent inclusive framework of rnusical development and incorporating oracy-informed pedagogical approaches. Pupils will learn to playthe melodica in groups and work tOW8rds achieving a TrinityAwards and Certificates In Musical Development IACMDI inclusive accreditation. The programrne was successfully delivered with many key le8rnings 8lre8dy supporting the Foundation's wider approach to inclusion. Ouryouth Council led on the delivery of 8 Summer festival event, showcasing performances from rocklpop youth acts, including young musicians who are external to MMF provision. This approach of facilitating and celebrating non-formal and youth-led music making is an important new str8nd to our provision and further supports best inclusive practlce at MMF. During 2023-24, a working group of core staff was established to review the Foundation's recruitment policyand interview matrix, to ensure inclusion is embedded atthe heart of these processes. A new interview matrix was developed and has been deployed, ensuring questioningduring and information before interviews is clear. accessible and ensures fairness to all candidates whilst adhering to the necessary levels of scrutiny under our Safer Recruitment process. Sustalnablllty To better support the Foundation's inclusion aims and ensure longterrn financial sustainability, during 2023-24 we established a newcharitable fund in response to ourfinancial assistance r8view 8nd continued efforts under an initiativeto'Be More Charity.. TEMPO Fund {Tr8ining, Education, Musical Progress & Opportunity) was created with three core strands: continuing to off er a means- based discount at source (now to be known as 'TEMPO Fund Discount Scheme, previously'Trust Fund'l. establishing a series of Access and Progression Programmes, to address historic under- representation of key groups of people; and supportingthe Foundation's ambitious programme of Special Projects and events. MMF was fortunate to be one of the Nayor of Merton's nominated charities in 2024, raising £10k to be put straight toward the newfund. Trustees are excited to see meaningful impact of the new fund in 2024125 and beyond. The Foundation's Youth Council were tasked with leading on the development of an Environmental Sustainability strategy, which was presented to trustees by these young people at a meeting of the Board. The strategy and action plan have been implemented with regular reviews to take place in 13
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 2024125, with continued involvement of the Youth Council in oversite of this important work and management of a new sustainability budget. We were successful in running a crowdfunding campaign, linked to our Royal Albert Hall schools, concert event, which raised over £5k to enable families from low incomes to attend the event and support their child /young person. We continued to deliver a programme of workforce development and training, including our annual Tutor Conference event in September, termly peer-led training and networking events, lesson observations and a new peer learning programme for tutors. Core staff received termly INSET training sessions and individual tailored training8nd support, includingregular'professional conversations, withtheir line manager. In the context of a shrinking music educationworkforce, the Foundation has begun planning around 8 new'routes into industry, strand of provision, to support the next generstion of rnusicians into roles as performers, composers, educators and backstage l industry positions. Future Plannlng We Gontinue to review 8nd revise our Self-Evaluation and Improvement Plan and yearly Action Plan documents, in response to need. 2024-25will be a period of great change forthe organisation, both in terms of the nation8l reorganisation of Music Hubs and due to the planned retirement of th8 Foundation's Chief Executive. Trustees lookforward to continuingto develop and adapt the Foundation's strategic planning, activities and provision to ensure it meets its charitable objectives, guided by its vision for Movingmusic Forward in Merton. Other Prlorltles Include Over the coming year, we will continue to develop our non-formal progression route, 'Amplify', through increased participation in new rocklpop provision, workwith our Youth Council and development of youth-led and open-mic performance opportunities. We aim to broaden this provision to incorpor8te a more developed 'routes into industry, strand, including signposting and career development opportunities for young people. Environmental sustainability is an emerging priorityfor the Foundation, with initial priorities being around auditing and understandingthe environmental impact otour activities and possible areas for improvement. Continued development and integration of our Youth Council remains a priority going forward, ensuring that this group is representative of our community and authentically empowered to lead organisational change. Completing delivery of the 'Mini Musicians, on-budget will be an ongoing priority in 2024125, with our thoughts turning tOW8rd legacy planning and wider dissemination ot learnings from this impacttul and highlysuccessful programme. The Foundation will pilot an open access live electronic music group in 2024-25 as part of a project called 'Resonance Ensemble,. This new group will enable learning about best inclusive practice to be cascaded throughout MMF'S programming and foster impactful new partnerships to develop the Foundation's inclusion agenda. 14
MERTON MUSIC FOUNDATION Annual Report of the Trustees forthe Year Ended 31 Aug 2024 Income & Expenditure Merton Music Foundation enjoyed anothersuccessfulyearwitha continued increase in instrumentauvocal lessons, large group/class participation and ensemble membership numbers. Turnover rose 230/0 to £1,818.300 from £1,475,558 during the previous year as a result of increased partlCiP8tion, fundraising strategies and income from the Mini Musicians project. As turnover increased, total expenditure ofthe charity increased as well from £1,475,011 to £1,831,629, an increase of 24%. There was a deficit of £13,329 at the end of the year. Restrict8d funds fell to £876 from 21,839. Flnanclal Posltlon at Year-End The net assets of the charity remain at a healthy £211,793. This is a slight r8ductlon from last ye8r's figure of £226,640. The current net assets stand at £185,009 {previous year - £197,658). Cash balances showed a decrease at the year-end to £302,589 from £364.391 at the previous year-end. The financial position at the 31 August 2024 remains strong. 15
MERTON MUSIC FOUNDATION Annual Report of the Trustees forthe Year Ended 31 Aug 2024 TR Governing Document Merton Music Foundation is a charitable company limited by guarantee, incorporated on 12 March 1991 and registered as a charity on 11 September 1991. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The trustees, who are also directors forthe purpose of company law. and who served during th8 year and up to the date of signature of the financi81 statementswere: Edward Hickman Emma Trevelyan 18n Bond Kenisha Fuller18ppointed 25 November 2024) Klngsley Green Manish Solanki Mi8 Liy8nage Nicky Morgan (resigned 8 July 2024) Prrajesh Varath8n (appointed 25 November 2024) Rowena Maybury Sandra Vogel (resigned 8 July 2024) Sebastian Jones Trust88 Induction and Trainlng New trustee induction includes briefingthem on their legal obligations undercharity and company law, the content of the Memorandum and Articles of Association, the committee and decision- making process, the Local Plan for Music Education and recent financial performance of the ch8rity. During the induction process, they meet key employees and the other trustees. All trustees are encouraged to attend appropriate external training eventsto developtheir understand oftheir roles as trustees 8nd must complete regular Child Protection & Safeguaidingtraining. New trustees are also given relevant documentation including recent important docurnentation on music education, management financial reports, meeting minutes and copies of the charity's annual Reports and financial statements. 16
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 Related Parties and Co-operation with Other Organisations MMF works closely with the Friends of Merton's Young Musicians IFMYM} (Charity No. 274493RI. FMYM is the parents, association for our Music Centre activities, which are based at Merton Abbey Primary School. The Chief Executive serves in an ex-officio non-voting capacity on the management committee of FMYM. Organlsation The Board of Trustees meets termly to manage the aff airs of the charity. The Board consisted of ten directors, from a variety of professional backgrounds, who are responsible for the overall strategic direction and policy of the charity. The Chief Executive manages the day-to-day oper8tions of the charity, and as a deleg8ted authority, Wlthin the terms of delegation approved by the trustee body, for operational matters including finance. employment and artistic related activity. RlskManag8ment The Trustees have a risk management policy, which comprises an annual review of the risks the charity rnay f8ce and establish8S Systems and procedures to mitigate those risks identified. Chlld Protectlon & Safeguardlng Safeguardingof children and young people is one ofthe Board's prlmaryconcerns. Merton Music Foundation adopts the current Safeguarding requirements as set out in Keeping Children Safe in Education IKCSIEI and other relevant policy documentation, in-line with best pr8Ctice adopted by Merton schools. This is achieved via the Foundation's Safeguarding Policy, which is updated 8t least annually in accordance with n8tional and local guidance. The Foundation implements a rigorous Safer Recruitment policyand procedure which ensures 8ppropriate vetting of all staff that will undertake Regulated Activity in relation to children and those that may work in an administrative capacity from a Designated Pr8mises, such as a school. This Includes obtaining proof of identity, address and residence statuslright to work; a full employment 8nd education history from age 18. all personal details including any previous a names; two satisfactory references; verification of any qualifications, as appropriate to the role; and a criminal history declaration. Applicants are asked relevant questions to ascertain their physical 8nd mental suitability to work in schools; online searches" and an Overseas Police Check, if appropriate. HeaLth and Safety Ensuring the health and safety of staff, students, volunteers andvisitors is also a priority for trustees. Core Staff undertake First Aid and Fire Marshall training and are subjectto a health and safety briefing upon induction alongside regul8r reminders I top-ups. All staff are made aware of their own duties and responsibilities for health and safety issues via the Staff Handbook and all regular and one-off activity is risk assessed under the Foundation's Health and Safety Policy. Auditor In accordance with the company's articles, a resolution proposing that WSM Advisors Limited be reappointed as auditor of the companywill be putat a General Meeting. 17
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 Disclosure of Informatlon to Auditor Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit. but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. ACE Arts Council England DfE Department for Education HLO Hub Lead Organisation Hub Music Hub l Music Education Hub LDP Local Delivery Partner MMF Merton Music Foundation NPME- National Plan for Music Education SEIP Self-Evaluation and Improvement Plan SEND - Special Educational Needs 8ndlor Disabilities The trustees, report was 8pproved by the Board of Trustees. Edward Hickman Trustee Dated: 23 June 2025 18
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES MERTON MUSIC FOUNDATION Statement The Trustees, who are also the Directors of Merton Music Foundation for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pr8Cticel. Company Law requires the Trustees to prepare financial statements foreach financialyear which give a tru8 and fair view of the st8te of aff airs of the charitable company and of the incoming resources and appllcation of resources, including the income and expenditure. of the charitable company for that year. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; obseNe the methods and principles in the Charities SORP; rnake judgements and estimates th8t are reasonable and prudent state whether appliable UK Accountingstandards have been followed, subjectto any m8terial departures disclosed and explained in the financial statements; and prep8re the financial statements on the goingconcern basis unless it is inappropriate to presume that the charitable company will continue In operation. TheTrustees 8re responsible for keeping adequate accounting records that disclose with reasonable accuracy at anytime the financial position of the charitable cornpany and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking r8880nable steps for the prevention and detection of fraud and other irregularities.
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MERTON MUSIC FOUNDATION Opinion We have audited the financial statements of Merton Music Foundation (the 'charitable company'l for the year ended 31 August 2024 which comprise the statement offinancial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including Significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, thefinanclal statements: give a true and fair view of the state of the charitable company's affairs 8s at 31 August 2024 and of its incoming resources and application of resources, for theyearthen ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Baslsfor oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs {UKI) and applicable law. Our responsibilities under those standards 8re further described in the Auditor's responsibilities for the audit of the financial statements Section of our report. We 8re independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of thefinancial statements in the UK, includingthe FRC'S Ethicalstandard, and we havefulfilled ourother 8thic81 responsibilities in accordance with these requirements. We believe th8t the audit evidence we have obtained is sufficient and 8ppropriate to provide a basis forour opinion. Concluslons relatlngto golng concern In audlting the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least 12 months from when the fin8nci81 statements are authorised for issue. Our responsibilities and the responsibilities of the Trusteeswith respectto going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annuaL report. Our opinion on the financial statements does not cover the other 20
MERTON MUSIC FOUNDATION Annual Report of the Trustees fortheyear Ended 31 Aug 2024 information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have pertormed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothingto report in this regard. Oplnlons on other matters prescrlbed by the Companies Act2008 In our opinion, based on the work undertaken in the course of the audit: the Information given in the trustees, report , which includes the directors, r8POrt prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistentwith the financial statements; and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. Malters on whlch we are requlred to report by exceptlon In the light of the knowledge and underst8nding of the charit8ble company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in re18tion to which the Companies Act 2006 requires us to report to you if, in ouropinion: adequate and proper accounting records have not been kept, or returns adequate for our audit have notbeen received from branches notvisited by us; or - the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or the Trustees were not entitled to prepare the financial statements in accordance wlth the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement to prepare g strategic report. Responsibilities of Trustees As explained more fully in the statement of trustees, responsibilities [set out on page 19], the Trustees, who are also the directors of the charitable company for the purpose of company law, are responsible forthe preparation of the financial statements and for being satisfied that they give a true and fair view, 21
MERTON MUSIC FOUNDATION Annual Report of the Trustees forthe Year Ended 31 Aug 2024 and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charltable company's 8bility to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unlessthe Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial stat8m8nts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes ouropinion. Reasonable assurance is a high level of assurance but is not a gu8rantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when It exists. misstatements can arise from fraud orerror and are considered material if, individuallyor in the aggregate, they could reasonably be expected to influence the economic decisions of users t8ken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting i rregula rities, includ ing fraud is detai led below: We 8V8luated man8gement's incentives and opportunities for fraudulent manipulation of the financial staternents (including the risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and posting inappropriate journal entries to manipulate the fair value of the company's assets. Our tests included agreeing the financial statement disclosures to underlying supporting docurnentation where relevant, review of Directors meeting minutes, enquiries with management as to the risks of non-compliance and 8ny instances thereof, challenging assumptions and judgments rn8de by management, and identifying and testing journal entries, in particular 8ny journal entries posted with unusual account combinations. Our audit procedures also focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not lirnited to, the Companies Act 2006. Our audit procedures were designed to respond to risks of material misstatement in the financial staternents, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud rnay involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed end the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less like we are to become aware of it. A further description of our responsibilities is availabLe on the Financial Reporting Council's website at: www.frc.orE.uklauditorsresponsibilities. This description forms part of our auditor's report. 22
MERTON MUSIC FOUNDATION Annual Report of the Trustees forthe Year Ended 31 ALtg 2024 Use of our report This report is made solely to the charitable companws members. 8s a body, in ar.rnrdance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent pertnitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's IiieiTILJeis as a body, for our audit work. foi this report, or for the opinion3 we havc formcd. Michael Spink ACA (Senior Statutory Auditor) for and on behalf of WSM Advisors Limited Date: 23 June 2025 Chartered Accountants Statutory Auditor Connect House 133-137 Alexandra Road Wimbledon London SW19 7JY 23
MERTON MUSIC FOUNDATION Annual Report of theTrustees forthe Year Ended 31 Aug 2024 STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT Forthe Year Ended 31 August 2024 Unrestricted Restrlctad Funds Funds 2024 2024 Total Total 2024 2023 Notes Don8tions & leg8cies: 8,687 8,687 9,693 Cha ritable activities: 1,559.516 242,642 1,802,158 1,465,671 Investments: 7,455 7,455 194 Total Incom8: 1,575,658 242,642 1,818,300 1,475,558 ExpendlturL. Cha ritable activities 1,831,629 1,831,629 1,475,011 Net loutgolng)Ilncomlng resources before transfers {255,971) 242,642 {13,329} 547 Gross transfers between funds 242,642 1242,6421 Net {expendlture)Ilncome for the year l Net movement In lunds (13,3291 (13,3291 547 Fund balances at 1 September2023 224,246 876 225,122 226,093 Fund balances at 31 August 2024 The statement of financial 8Ctivities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 24
MERTON MUSIC FOUNDATION Annual Report of the Trustees forthe Year Ended 31 Aug 2024 BALANCE SHEET MERTON MUSIC FOUNDATION As at 31 August 2024 Notes 2024 2023 Flxed Assets Tangible assets 26,784 28,982 Current assets Debtors 10 31,564 14,688 Cash at bank and in h8nd 302,589 364,391 334,153 379,079 CredStors: amounts lalllng due wllhln one year 11 (149,1441 1181,421} Net current assets 185,009 197,658 Total assets less current liabilitias 211,793 226,640 The funds of the charltable company Restricted income funds 12 876 1,839 Unrestricted funds 13 210,917 224,801 211,793 226,640 The financial statements were approved by the Board of Trustees on 23 June 2025. Edward Hickman Trustee Company registration number 02590621 (England and Wales). 25
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 STATEMENT OF CASH FLOWS MERTON MUSIC FOUNDATION For the Year Ended 31 August 2024 Notes 2024 2023 Cash flows from operatlng activities Cash labsorbed byllgenerated from operations 20 {63.2381 51,954 Investlng actlvlties Purchase of tangible fixed assets 16,019) {3,2341 Interest recelved 7,455 194 Net cash generated froml(used In) Investlng actlvltles 1,436 (3,0401 Net cash used In flnanclng actlvltles Net (decrease)Ilncrease In cash and cash equivalents {61,802) 48,914 Cash and cash equivalents at the beginning of year 364,391 315,477 Cash and cash 8qulvalents at end of year 302,589 364,391 26
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 NOTESTO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1. Accounting Policies Charity Information Merton Music Foundation is a private company limited by guarantee incorporated in England and Wales. The registered off ice is clo Merton Abbey School, High Path, London, SW19 2JY. 1.1 Accountlng Convention The fin8ncial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006 and "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 IFRS 1021 (effective 1 January 2019)". The charltable company IS 8 Public Benefit Entity as defined by FRS 102. The financial statements 8re prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng Concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Incoming Resources Incoming resources represents tuition fees, income frorn concerts, tours, hire of instruments, music centre subscription and other fees rendered in the year. Income is recognised when the charitable company is legally entitled to it after any perforrnance conditions have been met, the amounts can be measured reliably, and it is probablethatincome will be received. Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to membership received under Gift Aid or deeds of covenant is recognised at the time of the receipt. 27
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 1.4 Resources expended Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs 8re allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Direct charitable expenditure includes all expenditure directly related to the objectives of the charitable company and comprises the costs of providing instrurnental tuition, concert performances, tours, and education and community projects undertaken by the charitable CQrnP8ny and is 8ccounted forwhen payable. Certain other costs, which are attributable to more than one 8Ctivity, are apportioned 8cross cost categories on the basis of an estimate of the proportion of time spent by staff on those activities. Govern8nce coats Governance costs represent expenditure incurred in the management of the charitable cornpany's assets, organisational administration and compliance with constitutional and statutory requirements. 1.5 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Musical instruments Computer equipment Office equipment 25% on reducingb8lance basis 25% on reducing balance basis 25% on reducing balance basis 28
NERTON MUSIC FOUNDATION Annual Report of the Trustee5 for the Year Ended 31 Aug 2024 The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of fi nancial activities. 1.6 Impairment of flxed assets At each reporting end date, the charitable company reviews the carrying amounts of its t8ngible assets to determine whether there is any indication that those assets have suffered an impairment loss. If anysuch indication exists, the recoverable amount of the asset is estimated in order to determine the extent of th8 impairm8nt loss (if any). 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at callwith banks and other short-term liquid investments with original maturities of three months or less. 1.8 Financlal In8trum8nts The charitable company has elected to applythe provisionsof Section 11 '8asic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Fin8nci81 instruments are recognised in the ch8ritable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are off set, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc flnanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present V81ue of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year 8re not amortised. Basic financial liabllities Basic f i nancial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financingtransaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 29
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are pr8sented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 1.9 Fund Accountlng The funds held by the charitable company are either: Restrlcted funds - these are funds that can be used for particular restricted purposes within the objects of the charitable company. Restrictions arise when specified by the donor or when funds are raised for particular purposes. Unrestrlcted general funds - these are funds which can be used in accordance with the ch8ritable objects at the discretion of the trustees. Deslgnated funds - these are funds set aside by the trustees out of unrestricted gener81 funds for specific future purposes. The funds received in the year are transferred to the generalfund to be set off against expenses in the year that relate to the agreed activities with Arts Council England. Peter Woodlng's bursary fund These funds have been designated by the charitable companyto support exceptional young musicians atthe request of Peterwooding's family. The fund was est8blished with donations made to the charitable company. The charitable companyheld sufficient cash balances at the year end to allowthe funds to be applied as intended. Arts Councll England Funding The charitable company received a grant in the yearfrom the Arts Council England. According to the Funding Agreement, the use of the grant is restricted to the 8greed activities with the Arts Council. The grant is recognised in the accounts when they are received and 8pplied to the period it relates to. Dorothy Taylor Bequest The charitable company received restricted funds within the current year to support one girl and one boy in their musical studies for the period of 4 years at the request of the late Dorothy Taylor. Arts Council England 'Grants forthe Arts. The charitable company received restricted funds within the current year to support its Change is Coming project. 30
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 2. Critical accountlng estimates and judgements In the application of the charitable company's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparentfrom other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actu81 results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimat8 is revised where the revision affects only that period, or in the period of the revision and future periods where the revlsion affects both current and future periods. 3. Donatlons and legaclas 2024 2023 Donations 8nd gifts 8,687 9,693 31
7J J
- Charitable activities Staff Depreciation Direct Costs Allocate CO8t$ 2024 Total 2024 Total 2023 2024 2024 2024 Instrumental tuition Youth musi¢ programme Tours and Concerts Professional advice and support CPD trainlng Project dev91opm8nt Instrument repair and hire 221.438 171.711 61.983 678.350 261,633 226,786 33,282 8.321 8.321 933.070 441.665 297.090 736,077 441,336 145,949 7.430 6.907 68.565 4.160 4.160 8.321 8,321 11,590 11,067 76,886 9,900 10,763 10,256 73,542 10,611 1,579 538,034 1,168,348 74.886 1,781,268 1,428,534 Share of support costs IseB note 61 Share of govarnance costs (see not8 6 16.384 8,218 830 8.321 33,753 33,507 16.608 16,608 12,970 554.418 8,218 1.185.786 83,207 1,831,629 1,475,011
- Support costs Support Other costs 2024 2023 S818ri88 Pension costs Bank charges Depreciatlon Allocated support Audit and accountancy fee 15,440 944 829 8,218 8.321 15.440 944 829 8,218 8,321 16.608 14.583 904 1,260 9,658 7,101 12,970 16.608 33.752 16,608 50,360 46,476 Governance costs includes payments to the auditors of £16,608 {2023: É12,9701 for audit fees. These costs are wholly attributable to charitable activities and are allocated based on the trustees, estimate of the appropriate proportion attributable to each activity.
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 7. Employees Number of employees Th8 8v6rage monthly numbefof employees duringthe yearwas: 2024 Number 2023 Number Number of employees 43 40 W8ge5 and salaries Social security costs Other pension costs 592,605 49,382 73,941 593,772 45,010 66,136 715,928 704,919 Thè number ol employ8es whose annual remuneratlon was £60,000 or more were.. 2024 Numb•r 2023 Numbor £60,000 to £70.000 £70,000 to £80,000 £80.000 to £90,000 £90.000 to £100,000 Those employees whose emoluments exceeded £60,00012023: 3 employees) also have retirement benefits accruing under defined benefit Pension schemes. A total of £49,794 12023: £43,974) was paid to the Teachers, Pension Scheme in the year for these 8mpLoyees. 8. Taxation The charitable company is exempt from corporation tax on its charitable activities.
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 9. TanglbLe fixed assets Mus4c•l Instrument• Computar oquipm8ni Olll¢• •qulprn¥nt Total Cost At 1 September 2023 Additions 229.530 2.130 51.867 3,889 34,852 316,249 6,019 At 31 August 2024 231,660 55,758 34.852 322,268 Depreclatlon and Impalrmont At 1 S8Pt6mber 2023 Depreciation charged In the year 211.835 4,424 44,201 2,889 31,230 905 287,266 8,218 At 31 August 2024 216,259 47,090 32,135 295.484 Carrylng amount At 31 August 2024 15,401 8.666 2,717 26.784 At 31 August 2023 17,695 7.666 3,621 28.982 10. Debtors 2024 2023 Amounts falllng due wlthln one year: Trade debtors Other debtors Prepayments 8nd accruéd Income 3,950 27.134 480 3,012 11,676 31,564 14,688
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 11. Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Deferred income Trade créditors Oth8r creditors Accruals 12.293 82.998 32,897 1,391 19,585 10,703 116,517 31,329 1,211 21.661 149,144 181.421 Deferred income relates to deposits and fees paid in advance for the following year. 12. Restrlcted funds The income funds of the charitable company include restricted funds comprlsing the following unexpended balances of donations and grants held on trust for specific purposes: B•l•nc• •¢ 1 S•w•mb•r 2022 R••ourc•• 8*l•n¢•ai •xp•nd•fl 1 S•pt•mb•r 2023 R•iour¢•i •xpend•d B•ianc• •t 31 Auqult 2024 Dorothy Taylor Bequest Greenwood Bursary 3.405 9.567 11.5661 19.5671 1,839 19631 876 12,972 111.1331 1.839 19631 876 Arts Council England {ACE) made a grant available to thecharitable comp8ny duringthe year. The use of the grant has no specific restrictions; howeverthe funding is subject to the charitable company delivering the agreed activities within the core roles and extension roles of the National Plan for Music Education as highlighted within the Trustees, Report. The funds received in the year have been transferred to the generalfund to be set off against expenses in the year that relate to the agreed activities with ACE.
MERTON MUSIC FOUNDATION Annual Report of the Trustees forthe Year Ended 31 Aug 2024 13. Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At1 Septembér 2023 Incomlng resources Rfr$our¢e$ oxpended Transter At 31 August 2024 Peter Woodings Bursary General funds 2,980 221.265 15541 1.575.658 11,831.0741 2.426 208,491 242,642 224.246 1,575,658 11,831.6291 242,642 210,917 Prevlous yo01: At1 S•pt8mber 2022 Incomlng resources Ro>our¢g$ expended Tran8for At 31 Augujt 2023 Peter Woodings Bursary Gen8ral funds 5,445 218,809 12.4651 1.248.975 11.472.5461 2,980 221,821 226.583 224.254 1.248.975 11,475.0111 226,583 224.801 14. Analysls of net assets between funds Re8trl¢tod Unrestrictad lunds tund8 2024 2024 Total Restrlcted Unr•strl¢tod funds funds 2023 2023 Total 2024 2023 Fund balances at 31 August 2024 are represented Tangible assets Current assetsllliabilitiesl 26,784 184.133 26,784 185.009 28,982 197,658 876 1,839 195,819 1.839 209,952 211.793 1,839 195,819 226.640 15. Financial commitments, guarantees and contingent liabilities The liability of the members is limited. Every member undertakes to contribute an amount not exceeding £1 tothe assets of the company, in the event of the company beingwound up whilst they are 8 member, or within one year after ceasing to be a member, for the payment of the debts and liabilities of the company contracted before ceasing to be a member.
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 16. Operating lease commitments At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leas8s, which fall due as follows: 2024 2023 Withln on8 year Between two and five y88rs 18,000 18.000 18,000 38,000 36,000 54.000 17. Related party trans8Ctlons None of the trustees lor any persons with them) received and remuneration or benefits from the ch8ritable company duringthe year. 18.T8achers' Penslon Scheme The charity partlCIP8tes in the Teachers, Pension Scheme (England and Wales) (the TPSI, for its teaching staff. The pension charge for the year includes contributions payable to the TPS of £67,85812023 . £61,837). The TPS is 8n unfunded multi-employer defined benefits pension scheme governed by the Teachers, Pensions Regulations 2014. Members contributeon a'pay as you go basis with contributions from members and the employer being credited to the Exchequer. Retirement 8nd other pension benefits are paid by public funds provided by Parliament. The employer contribution rate is set following scheme valuations undertaken by the Government Actuary's Department. The latest actuarial valuation of the TPS was prepared as at 31 March 2016, and the valuation report, which was published in September 2019. The employers contribution rate increased to 23.68¥0. Employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 23.760/0. This valuation will aLso determine the opening balance of the cost cap fund and provide an analysis of the cost cap as required by the Public Service Pensions Act 2013.
MERTON MUSIC FOUNDATION Annual Report of the Trustee5 forthe Year Ended 31 Aug 2024 19.An8lysis of changes in net funds The charitable company had no material debt duringthe y88r. 20. Cash generated from operations 2024 2023 IDef icltllsurplus for the ye8r 113,3291 547 Adjustrn8nts for.. Inv8Strn8nt income recognised in statement of flnan¢ial actlvltles Depreciation and impairment of tangible fixed assets Movement in designated restricted funds Movement In design8ted unrestricled funds 17,4551 8,218 19631 15541 11941 9.658 111,133 12,4651 Movement5 in working capltal: Ilncr8asel in debtors Increas8lld8creasel in creditors IDecr8aselllncrease in dèferred Income 116.8781 1.242 133,5191 19,5611 115.7841 80,886 Cash {8bsorbod by)Igengraled from op8rallon8 163,2381 51,954
MERTON MUSIC FOUNDATION Annual Report of the Trustees for the Year Ended 31 Aug 2024 Merton (Omusic Foundation 4. 41$ Forward