##
||Page|
|---|---|
|Reference and Administrative
Details||
|Trustees'
Report|2to 14|
|Report ofthe Independent
Auditors|15to 18|
|Statement ofFinancial Activities|19|
|Balance Sheet|20to 21|
|Cash Flow Statement|22|
|Notes tothe Cash Flow Statement|23|
|Notes to the Financial Statements|24to41|
|Registered|Company|number|02661682 (England and Wales)|02661682 (England and Wales)|02661682 (England and Wales)|||||
|---|---|---|---|---|---|---|---|---|---|
|Registered|Charity number||1026160|||||||
|Registered|office||Wiltshire
Music Centre|||||||
||||Ashley Road|||||||
||||Bradford on Avon|||||||
||||Wilts hire|||||||
||||BA15 1DZ|||||||
|Trustees|||Mr J A I Wetz (Chair)|||||||
||||Mrs H Feilding (Vice Chair, Treasurer|||||and Chair of||
||||the Finance and Resources Committee)|||||||
||||Mr J C A Berridge|||||||
||||Mr M JCleaver|||||||
||||Mr JCross (Chair ofthe Programme||||and Learning|||
||||Committee)|||||||
||||Mr M A Lee|||||||
||||Ms M Houghton||||||appointed 04.12.20|
||||Mr A Segrave||||||appointed 04.12.20|
||||Mr A MacRae (Chair ofthe Venue|||Committee)||||
||||Mrs A M Millman|||||||
||||Ms E R Pieczko||||||resigned 20.10.21|
||||Mr D V Richardson|(Independent||Trustee)||||
||||Ms E DSandberg|||||||
||||Mr
I
L
Thorn|(Chair
of|the||Development|||
||||Committee)|||||||
|Auditors|||Moore|||||||
||||Chartered
Accountants
and Statutory|||||Auditor||
||||30Gay Street|||||||
||||Bath|||||||
||||BA12PA|||||||
|Bankers|||HSBC Bank pic|||||||
||||46 Fore Street|||||||
||||Trowbridge|||||||
||||Wiltshire|||||||
||||BA148EL|||||||
|Investment|managers||Investec Wealth & Investment||Limited|||||
||||Royal Mead|||||||
||||Railway Place|||||||
||||Bath BA11SR|||||||
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||||||31.3.21|31.3.20|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||Notes|f|f|f|f|
|INCOME AND ENDOWMENTS FROM|||||||
|Donations
and legacies|||225,787|436,621|662,408|387,346|
|Charitable
activities|||||||
|Concerts|||16,730||16,730|285,972|
|Sponsorship|||1,810|3,000|4,810|24,489|
|Educationalactivities|||25,745|7,211|32,956|132,534|
|Friends membership|subscriptions||23,908|90|23,998|22,421|
|Other trading
activities|||97,725||97,725|133,880|
|Investment
income|||26,921||26,921|36,238|
|Total|||418,626|446,922|865,548|1,022,880|
|EXPENDITURE ON|||||||
|Raising funds||6|11,804|533|12,337|61,280|
|Charitable
activities|||||||
|Concerts|||120,891|170,519|291,410|504,260|
|Educational
activities|||8,551|186,999|195,550|403,870|
|Management
and administration|||39,455|1,750|41,205|59,043|
|Other costs|||127,010|4,799|131,809|153,061|
|Auditorium
repairs||||||18,355|
|Total|||307,711|364,600|672,311|1,199,869|
|Net gains/(losses)
on|investments||107,975||107,975|~92,7897|
|NET INCOME/(EXPENDITURE)|||218,890|82,322|301,212|(269,178)|
|Transfers between
funds||21|(5,067)|5,067|||
|Net movement
in funds|||213,823|87,389|301,212|(269,178)|
|RECONCILIATION
OF|FUNDS||||||
|Total funds brought forward|||2,279,680|166,422|2,446,102|2,715,280|
|TOTAL FUNDS CARRIED FORWARD|||2 493,503|253,811|2,747,314|2,449,102|
##
||||||31.3.21|31.3.20|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
|||Notes|E|E|E|E|
|FIXEDASSETS|||||||
|Intangible|assets|13|12,973||12,973|20,982|
|Tangible|assets|14|1,700,040||1,700,040|1,760,058|
|Investments||15|770,931||770,931|585,956|
||||2,483,944||2,483,944|2,366,996|
|CURRENT|ASSETS||||||
|Stocks||16|1,907||1,907|3,071|
|Debtors||17|57,416||57,416|76,098|
|Cash at bank|||111,363|253,811|365,174|216,570|
||||170,686|253,811|424,497|295,739|
|CREDITORS|||||||
|Amounts|falling due within one year|18|(115,563)||(115,563)|(216,633)|
|NET CURRENT ASSETS|||55,123|253,811|308,934|79,106|
|TOTAL ASSETS LESSCURRENT LIABILITIES|||2,539,067|253,811|2,792,878|2,446,102|
|CREDITORS|||||||
|Amounts|falling due after more than one||||||
|year||19|(45,564)||(45,564)||
||||2,493,503|253,811|2,747,314|2,446,102|
##
|The Wiltshire
Music Centre|Trust Limi|ted||||
|---|---|---|---|---|---|
||||||W~llsnliIE|
|Cash Flow Statemen||||||
|for the Year En e 31March 202||||||
|||||31.3.21|31.3.20|
|||Notes||E|6|
|Cash flows from operating|activities|||||
|Cash generated
from operations|||1|194,442|(27,807)|
|Net cash provided
by/(used|in) operating||activities|194,442|(27,807)|
|Cash flows from investing|activities|||||
|Purchase oftangible fixed|assets|||(45,759)|(5,569)|
|Purchase offixed asset investments||||(77,000)||
|Sale offixed asset investments|||||150,000|
|Dividends
received||||26,921|36,238|
|Net cash (used in)/provided|by investing||activities|~95,838)|180,669|
|Cash flows from financing|activities|||||
|New loans in year||||50,000||
|Net cash provided
by financing
activities||||50,000||
|Change
in cash and cash equivalents||in||||
|the reporting
period||||148,604|152,862|
|Cash and cash equivalents|atthe|||||
|beginning
ofthe reporting|period|||216,570|63,708|
|Cash and cash equivalents|atthe end|||||
|ofthe reporting
period||||365,174|216,570|
##
##
##
|ACTIVmES||||||
|---|---|---|---|---|---|
|||||31.3.21|31.3.20|
|||||E|E|
|Net income/(expenditure)||for the reporting|period (as per the|||
|Statement ofFinancial Activities)||||301,212|(269,178)|
|adjustments
for:||||||
|Depreciation
charges||||113,786|117,945|
|(Gain)/losses
on investments||||(107,975)|92,189|
|Dividends
received||||(26,921)|(36,238)|
|Decrease/(increase)|in stocks|||1,164|(1,640)|
|Decrease in debtors||||18,682|28,017|
|(Decrease)/increase|in creditors|||(105,506)|41,098|
|Net cash provided|by/(used|in) operations||194,442|(27,807)|
|ANALYSIS OF CHANGES IN NET FUNDS||||||
||||At 1.4.20|Cash flow|At 31.3.21|
||||E|E|E|
|Net cash||||||
|Cash at bank|||216,570|148,604|365,174|
||||216,570|148,604|~365 174|
|Debt||||||
|Debts falling due within 1year||||(4,436)|(4,436)|
|Debts falling due after 1year||||$45,564)|+45,564)|
|||||$50,000)|f50,000)|
|Total|||216,570|98,604|315,174|
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|||||31.3.21|31.3.20|
|---|---|---|---|---|---|
|||||f|f|
|20th Anniversary||Appeal|||783|
|Donations||||38,389|53,290|
|Trusts and|Foundations|||624,019|333,273|
|||||662,408|387,346|
|Grants received,||included|in the above, are as follows:|||
|||||31.3.21|31.3.20|
|||||f|f|
|Grants||||470,802|184,905|
|Chadtable|Trusts|||153,217|148,368|
|||||624,019|333,273|
##
##
|OTHER TRADING ACTIVITIES|||
|---|---|---|
||31.3.21|31.3.20|
||f|E|
|Fundraising
events|44,381|7,664|
|Core user income|42,167|45,655|
|Lettings income|7,974|20,874|
|Bar and catering income|120|48,015|
|Boxoffice income|3,083|11,672|
||97,725|133,880|
|INVESTMENT INCOME|||
||31.3.21|31.3.20|
||f|f|
|Income from investments|26,921|36,238|
##
##
|||||||31.3.21|31.3.20|
|---|---|---|---|---|---|---|---|
||||Activity|||f|f|
|Concert income|||Concerts|||16,730|285,972|
|Sponsorship|||Sponsorship|||4,810|24,489|
|Education project income|||Educational|activities||32,956|132,534|
|Friends membership||subs|Friends membership||subscriptions|23,998|22,421|
|||||||78,494|465,416|
|RAISING FUNDS||||||||
|Other trading activities||||||||
|||||||31.3.21|31.3.20|
|||||||f|f|
|Bad debts||||||(314)|1,962|
|Marketing|and PR costs|||||2,895|11,542|
|Bar, box office and lettings||||||6,465|42,535|
|||||||9,046|56,039|
|Investment|management||costs|||||
|||||||31.3.21|31.3.20|
|||||||E|f|
|Portfolio management||||||3,291|5,241|
|Aggregate|amounts|||||12,337|61,280|
##
##
||||Support||
|---|---|---|---|---|
|||Direct|costs (see||
|||Costs|note 8)|Totals|
|||E|E|E|
|Concerts||276,805|14,605|291,410|
|Educational|activities|186,907|8,643|195,550|
|Management|and administration|41,205||41,205|
|Other costs||105,451|26,358|131,809|
|||610,368|~49 606|659,974|
##
|||||Governance||
|---|---|---|---|---|---|
|||Management|Other|costs|Totals|
|||E|E|E|E|
|Concerts||14,605|||14,605|
|Educational|activities|8,643|||8,643|
|Other costs||9,977|5,369|11,012|26,358|
|||33,225|5,369|11,012|49,606|
||||31.3.21|31.3.20|
|---|---|---|---|---|
||||E|E|
|Depreciation
-owned||assets|105,777|109,938|
|BoxOffice system amortisation|||3,079|3,079|
|Website|amortisation||4,930|4,930|
|Auditors'|remuneration||4,800|4,700|
|Auditors'|remuneration|-other services|1,300|1,300|
##
##
##
##
##
|STAFF|COSTS|||
|---|---|---|---|
|||31.3.21|31.3.20|
|||E|E|
|Wages|and salaries|296,560|362,162|
|Social|security costs|21,067|29,853|
|Other|pension costs|10,209|13,113|
|||327,836|405,128|
|The average m|onthl|y
number ofemployees
during|the year was as follows:||
|---|---|---|---|---|
||||31.3.21|31.3.20|
|Concerts|||3|5|
|Marketing|||2|1|
|Education|||2|4|
|Administration|and|support|5|3|
||||12|13|
|12.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|||
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|
|||||funds|funds|funds|
|||||E|E|E|
||INCOME AND ENDOWMENTS||FROM||||
||Donations
and legacies|||212,027|175,319|387,346|
||Charitable
activities||||||
||Concerts|||261,593|24,379|285,972|
||Sponsorship|||8,989|15,500|24,489|
||Educational
activities|||60,717|71,817|132,534|
||Friends membership|subscriptions||22,421||22,421|
||Other trading activities|||133,723|157|133,880|
||Investment
income|||36,238||36,238|
||Total|||735,708|287,172|1,022,880|
||EXPENDITURE ON||||||
||Raising funds|||57,274|4,006|61,280|
||Charitable
activities||||||
||Concerts|||439,611|64,649|504,260|
||Educational
activities|||219,560|184,310|403,870|
||Management
and administration|||54,044|4,999|59,043|
||Other costs|||151,466|1,595|153,061|
||Auditorium
repairs|||18,355||18,355|
||Total|||940,310|259,559|1,199,869|
||Net gains/(losses)
on|investments||~92,2897||(92,189)|
||NET INCOME/(EXPENDITURE)|||(296,791)|27,613|(269,178)|
||Transfers between funds|||(1,125)|1,125||
||Net movement
in funds|||(297,916)|28,738|(269,178)|
||RECONCIUATION
OF|FUNDS|||||
||Total funds brought forward|||2,577,598|137,682|2,715,280|
||TOTAL FUNDS CARRIED FORWARD|||2,279,682|166,428|2,446,192|
##
|13.|INTANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|---|
||||Box|||
||||Office|||
||||system|Website|Totals|
||||E|E|f|
||COST|||||
||At 1April 2020 and 31March 2021||15,395|24,650|40,045|
||AMORTI
SATION|||||
||At 1April 2020||7,575|11,488|19,063|
||Charge for year||3,079|4,930|8,009|
||At 31March 2021||10,654|16,418|27,072|
||NET BOOK VALUE|||||
||At 31March 2021||4,741|8,232|12,973|
||At 31March 2020||7,820|13,162|20,982|
|14.|TANGIBLE FIXEDASSETS|||||
|||||Fixtures||
|||Freehold|Plant and|and||
|||property|machinery|fittings|Totals|
|||E|E|E|E|
||COST|||||
||At 1April 2020|2,423,541|336,888|516,560|3,276,989|
||Additions||36,899|8,860|45,759|
||At 31March 2021|2,423,541|373,787|525,420|3,322,748|
||DEPRECIATION|||||
||At 1April 2020|899,766|234,621|382,544|1,516,931|
||Charge for year|45,638|18,845|41,294|105,777|
||At 31March 2021|945,404|253,466|423,838|1,622,708|
||NET BOOK VALUE|||||
||At 31March 2021|1,478,137|120,321|101,582|1,700,040|
||At 31March 2020|1,523,775|102,267|134,016|1,760,058|
##
##
|FIXEDASSET INVESTMENTS||
|---|---|
||Listed|
||investment|
||E|
|MARKET VALUE||
|At 1April 2020|585,956|
|Additions|77,000|
|Revaluations|~107975|
|At 31March 2021|~770931|
|NET BOOK VALUE||
|At 31March 2021|770,931|
|At 31March 2020|585,956|
##
##
|Analysis of investments|Analysis of investments|Analysis of investments|at 31March 2021|Total Funds||
|---|---|---|---|---|---|
|||||2021|2020|
|||||E|E|
|Listed investments||||762,536|517,534|
|UK cash held|as part|ofportfolio||8,395|68,422|
|||||779,991|999,999|
|STOCKS||||||
|||||31.3.21|31.3.20|
|||||f|E|
|Finished goods||||1,907|3,071|
|DEBTORS:AMOUNTS||FALLING DUE WITHIN ONE YEAR||||
|||||31.3.21|31.3.20|
|||||E||
|Trade debtors||||2,993|27,548|
|Other debtors||||42,293|35,291|
|VAT||||1,142||
|Prepayments|and accrued income|||10,988|13,259|
|||||57,416|76,098|
|The W|iltshire
Music Centre Trust|iltshire
Music Centre Trust|L|imited||R%|
|---|---|---|---|---|---|---|
|Notes|to the Financial Statements|||-contin|||
|f rth|Year Ended 31March 2021||||||
|18.|CREDITORS: AMOUNTS|FALLING DUE WITHIN ONE YEAR|||||
||||||31.3.21|31.3.20|
||||||E|E|
||Bank loans and overdrafts||(see note 20)||4,436||
||Trade creditors||||64,853|64,239|
||Social security and other|taxes|||5,256|7,706|
||VAT|||||3,068|
||Other creditors||||1,326|1,268|
||Accruals and deferred
income||||39,692|140,352|
||||||115,563|216,633|
|19.|CREDITORS: AMOUNTS|FALLING DUE AFTER MORE THAN ONE YEAR|||||
||||||31.3.21|31.3.20|
||||||E|f|
||Bank loans (see note 20)||||45,564||
|20.|LOANS||||||
||An analysis ofthe maturity||ofloans is given below:||||
||||||31.3.21|31.3.20|
||||||E||
||Amounts
falling due within||one year on demand:||||
||Bank loans||||4,436||
||Amounts
falling between|one and two years:|||||
||Bank loans -1-2 years||||10,647||
||Amounts
falling due between two and five years:||||||
||Bank loans -2-5 years||||31,941||
||Amounts
falling due in more|||than five years:|||
||Repayable
by instalrnents:||||||
||Bank loans more than 5|years|||2,976||
##
##
##
##
|MOVEMENT IN|FUN|DS||||||
|---|---|---|---|---|---|---|---|
||||||Net|Transfers||
||||||movement|between|At|
|||||At 1.4.20|in funds|funds|31,3.21|
|||||E|E|E|E|
|Unrestricted
funds||||||||
|General fund||||98,640|332,676|(55,067)|376,249|
|Fixed Assets||||1,781,040|(113,786)||1,667,254|
|Building Maintenance|||Plan|200,000|||200,000|
|Risk Management|fund|||200,000|||200,000|
|Environmental
Sustainability||||||50,000|50,000|
|||||2,279,680|218,890|(5,067)|2,493,503|
|Restricted funds||||||||
|Creative
Learning|fund|||126,816|10,407|(21,180)|116,043|
|Youth Orchestra|Reserve fund|||36,051|(8,974)||27,077|
|Young Artist fund||||3,555|170||3,725|
|Other restricted|funds||||(5,067)|5,067||
|Arts Council Cultural||Recovery Fund|||7,319||7,319|
|Celebrating
Age Wiltshire|||||72,503|21,180|93,683|
|Warm Welcome|Appeal||fund||5,964||5,964|
|||||166,422|82,322|5,067|253,811|
|TOTAL FUNDS||||2,446,102|301,212||2,747,314|
##
|||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|---|
|||||resources|expended|losses|in funds|
|||||6|E|E|E|
|Unrestricted
funds||||||||
|General fund||||418,626|(193,925)|107,975|332,676|
|Fixed Assets|||||(113,786)||(113,786)|
|||||418,626|(307,711)|107,975|218,890|
|Restricted
funds||||||||
|Creative
Learning|fund|||72,535|(62,128)||10,407|
|Youth Orchestra|Reserve fund||||(8,974)||(8,974)|
|Young Artist fund||||170|||170|
|Other restricted|funds|||1,373|(6,440)||(5,067)|
|Government
Covid Job Retention||||||||
|Scheme||||78,877|(78,877)|||
|Arts Council Cultural||Recovery|Fund|169,342|(162,023)||7,319|
|Celebrating
Age Wiltshire||||118,661|(46,158)||72,503|
|Warm Welcome|Appeal fund|||5,964|||5,964|
|||||446,922|L364,660000)||82,322|
|TOTAL FUNDS||||865,548|(672,311)|107,975|301,212|
##
##
##
|||||Net|Transfers||
|---|---|---|---|---|---|---|
|||||movement|between|At|
||||At 1.4.19|in funds|funds|31.3.20|
||||E|E|f|f|
|Unrestricted
funds|||||||
|General fund|||117,333|(175,533)|156,840|98,640|
|Fixed Assets|||1,893,422|(117,947)|5,565|1,781,040|
|Building Maintenance||Plan|150,000|(1,446)|51,446|200,000|
|Risk Management|fund||200,000|||200,000|
|Business development||fund|61,247|(1,867)|(59,380)||
|Organisational
development|||155,596||(155,596)||
||||2,577,598|(296,793)|(1,125)|2,279,680|
|Restricted funds|||||||
|Creative
Learning|fund||99,563|27,253||126,816|
|Youth Orchestra|Reserve fund||32,917|3,134||36,051|
|Catalyst
(ACE)|||2,498|(2,498)|||
|Young Artist fund|||2,704|851||3,555|
|Other restricted|funds|||(1,125)|1,125||
||||137,682|27,615|1,125|166,422|
|TOTAL FUNDS|||2,715,280|(269,178)||2,446,102|
##
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
||||E|E|f|E|
|Unrestricted
funds|||||||
|General fund|||731,422|(814,766)|(92,189)|(175,533)|
|Fixed Assets|||(1)|(117,946)||(117,947)|
|Building Maintenance||Plan||(1,446)||(1,446)|
|Business development
20th Anniversary
fund||fund
(unrestricted)|3,500
786|(5,367)
~786)||(1,867)|
||||735,707|(940,311)|(92,189)|(296,793)|
|Restricted funds|||||||
|Creative Learning|fund||198,664|(171,411)||27,253|
|Youth Orchestra|Reserve fund||82,249|(79,115)||3,134|
|Catalyst (ACE)||||(2,498)||(2,498)|
|Young Artist fund|||851|||851|
|Other restricted|funds||159|(1,284)||(1,125)|
|Concert grants|||5,250|(5,250)|||
||||287,173|(259,558)||27,615|
|TOTAL FUNDS|||1,922,889|(1,199,869)|(92,189)|(?69,178)|
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