WILTSHIRE
usic
ENTRE
REGISTERED COMPANY NUMBER.. 02661682 (England and Wales)
REGISTERED CHARITY NUMBER.. 1026160
Annual Report
including
Financial Statements for the Year Ended 31 March 2023
The Wiltshire Music Centre Trust Limited
*ACIXA9XV•
2211J2023
c(￿PANIEs HOUSE
A11
#347

The Wiltshire Music Centre Trust Limited
TSHIRE
sic
ENTR
Contents of the Annual Re
ort
Page
Reference and Administrative Details
Trustees, Report
2to12
Report of the Independent Auditors
13to16
Statement of Financial Activities
17
Balance Sheet
18to19
C35h Flow Statement
20
Notes to the Cash Flow Statement
21
Notes io the Financial Statements
22to35

The Wiltshire Music Centre Trust Limited
TSHIRE
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ENTRE
Reference and administrative detai15
Re8lStered Cornpany nurnber 02661682 (England and Wales}
Re8lStered Charity number
1026160
Registered
Wiltshire Music Cent
Ashley Road
Bradford on Avon
Wiltshire
BA15 IDZ
Trustees
Mr J A I Wetz (Chairl
Mrs H Feilding {Vice Charrl
Mr J C A Berridge
Mr M J Cleaver
Mr J Cross
MrMALee
Ms M Houghton
MrA Segrave
MrsA M Millman
Ms E D Sandberg
Mr l L Thorn
Ms Rosa Corbishley
Ms Esme lones
Mr A MacR3e (resigned 061021231
Mr D Richardson IretFred 091121221
Auditors
Moore
Chartered Accountants and Siatutory Auditor
30 Gay Street
Bath
BAI 2PA
Banker5
HSBC Bank plc
46 Fore Street
Trowbridge
Wiltshire
BA14 8EL
Investment managers
Investec Wealth & Investment Limited
Royal Mead
Railway Place
Bath BAI ISR

The Wiltshire Music Centre Trust Limited
TSHIR
Et4TRE
Trustees, Re
ort
for the Ye31 Ended 31 March 2023
The Trustees. who a￿ also directors of the charity forthe purposes of the Companie5 Act 2006, present their
reporl with the financial statements of the charity for the year ended 31 March 2023. The Trustees have
adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities pieparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102. effective l January 20191.
OBJECTS
The Objects of the Charity are the advancement of education. for the public benefit. through the promotion
and support of the art of music (including opera, rnusic, drama, ballet and all art forms consisting in whole or
in part of musicl in particular in the County of Wiltshire.
VISION AND MISSION
WMC'S vlslon is to maximise the opportunities for music to inspire. enrich and transform people's lives.
WMC'S mission is to be a beacon of excellence and innovation enabling a wide range of people to enjoy and
participate in music across different gen￿$.
VALUES
The work of WMC, its policies and practices are governed by the following volues framework- this reflects
the culture and working practices of the organisation as well as guiding the work delivered.
Ex¢ellence.' The highest quality music and musicianship. perfom)ance, presentation and participatory
experiences are encouraged. nurtured and offered by WMC. Artists, visitor5 and staff are provided with an
inspiring. ambitious and supportive environment.
Diversity and inclusion.. WMC'S programmes offer a rich Mix of musical and cultural offerings that reflect the
variety within society. local communities and different world traditions. WMC foster5 dialogue with a diverse
range of people and is committed to contributing to the social cohesion of the communities it serves.
Innovation-. Imagination. creativity. and inventive thinking are ot the heart of WMC'5 approach to developing
original ideas. It encourages cross-art collaborations, champions the use of digital and green technology, and
creates artistic and participatory experiences for audience members and the commun4ty-
Access and engagement= WMC provi(Jes everyone with an opportunity to engage in its a¢ti¥ities. It
continuously seeks to identify ènd remove any barriers to èccessing its performances and participation work.
Partnershlps: WMC openly shares, cooperates and collaborates with organisations at all levels to bridge gaps,
maximise the use of resources, leverage impact. and increase reach and resilience. WMC builds relationships.
working prartices and communication channels in order to think differently and more ambitiously.

The Wiltshire Music Centre Trust Limited
TSHIRE
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Trustees. Re
for the Year Ended 31 March 2023
PUBLIC BENEFIT
The Trust's policy is to make the Centre's facilities and activities available and relevant to the widest possible
range of people in Wiltshire and beyond. and to nurture the appreciation and practice of music in all its forms.
at all leve15 of ability. The Trust places a strong emphasis on its education and community work. which is
integral to its prograrnme and activities. with young people and disathantaged people at the heart of the
work it does. Wiltshire is economically affluent but rural poverty and isolation is widespread and hidden: 5
are livin8 in small villages with limited public transport. and 39 of the 28S Lower-layer Super Output Areas
ILSOAS) in Wiltshire are in the 40% that are nationally most deprived in the UK deprivation index Iwiltshire
Council En
lish Indices of De
rivation 2019 Re
ortl. In line with one of its core values. the Centre actively
works in close partnership with many local charities and community group5 to ensure maximum reach and
impact.
Trustees take r￿te of the Charity Commission's guidelines on public benefit in relation to fees and charge5.
Earned income is an important factor in the sustainability of the Centre's work, but we are committed to
making live music as accessible as possible and offer many free events as well as 3 range of conce55ionary
pricings for ticketed events. Thanks to fully accessible facilities and free tickets for carers. the Centre has been
successful in developing a regular and loyal following of disabled audiences, and it constantly listens to
suggestions for further improvèment. Additionally the Trust offers a 50% discount for under 18s for m05t of
the ticketed performance5, offering the opportunity of live music to young people and families whatever their
socio-economic status. Thanks to the 5UPPOrt of the Cavatina Trust, we also offer free tickets to young people
under 25 for classical chamber concerts.
The Centre is open to the public over 80 hours each term-tirne week for St Laurence School's music classes
and lessons, as well as community groups. education activities and regular rehearsals bv vovng musicians. It
is open for 60 hours each week during school holidays when youth orchestra courses. holiday workshops and
other activities are scheduled. Discounted room and auditorium hire rates are offered to local community
and not-for-profit groups, and schools using the Centre for their own promotion5. Free tickets and special
offers are also offered reg￿larlY to local schools, community and youth groups.
GOVERNANCE AND ORGANISATION
Constitution and governing document
The Wiltshire Music Centre Trust Limited is a registered charity and company limited by guarantee las defined
by the Companies Act 20061. The charity is controlled by its governing document. its Memorandum and
Articles of Association dated 24 March 2012 (registered at Companies House on 10 April 20121, and these
were updated l July 2020 IreBistered at Companies House on 20 July 20201.
Trustees and Observers
The Board is composed of 14 skilled Trustees from various backgrounds and is chaired by James Wetz who
Was instrumental in the creation of WMC and was formerly a trustee at Bristol Beacon, overseeing the
education and outreach programme. The Trustees elect the Chair of Trtlstees. St Laurence School. Bradford
on Avon, nominates one Trustee who serves as an individual in their own capacity rather than as a
representative of the School. As core funders Arts Council England and Wiltshire Council have the right to
send Observers to the Trustee 8oard meetings and currently rThninate representatives to do this.
A third of the Trustees ￿tIre by rotation each year and Trustees are elected annually. At the AGM on 9
December 2022 it was noted that Mark Lee. lan Thorn. Jonathan Cross and james Wetz retired and were re-
eletted. Any individual interested in becoming a Trustee is invited to submit a CV and letter of application,
and after meeting with the Chair and the Chief Executive & Artistic Oirector. they can be recommended to

The Wiltshire Music Centre Trust Limited
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Trustees, Re
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for the Year Ended 31 March 2023
the Nominations Panel for co-option to a relevant Committee or direct recruitment to the main Board. Once
appointed, all Trustee5 are provided with full induction materia15 including the Business Plan. audited and
management accounts. risk registers and Board papers. Appropriate training events and an annual Away Day
are held to complement Trustees. engagement and development.
The Nominations Committee supports the organisation to innovate in line with analysis carried out a5 part of
the internal Governance Review in 2017 and annual Trustees skills. audit,. it has a brief to ensure that the
Board not only becomes more diverse in term5 of ethnicity and age. but also to review the necessary skill sets
and experience that the oversight of the Centre demands.
Board m•na8ement
The Board of Trustees Meets quarterly and is responsible for the Strategic management of the Trust. It
carefully monitors progress on the business plan. strategic objertives and performance against budget,. it
reviews risk5 and discusse5 future plans in detail, working closely with the Senior Management Team. The
staff tearn is led by the Chief Eyecutive & Artistic Dirertor, and the Senior management Team includes the
Head of Finance. Director of Development. Director of Communications. and the Head of Creative Learning
& Communrty Engagerrtent.
In order to 5LlPPOrt operational management and ensure regular rnorhitoring of progress against strategic
objectives. the Chair and Chief Executive & Artistic Director meet in person on a monthly basis. Each Trustee
is encouraged to be a member of at least one of the standing Committees of the Board. alongside members
of the Senior Management Team and extèrnal members..
the Finance and Resource5 IF&RI Committee is chaired by the Treasurer and focuses on financial
performance. accountin& HR and oversees the reserves and investment policies-
the Programme, Audience and Learning IPALI Committee monitors and makes recommendations to
the Trustees in relation to the Centre's artistK, creative learning and community engagement
programmes;
the Development & Income Generation Committee oversees the planning, coordination and
implementation of strategic objectives and fundraising targets in the busbness plan that relate to the
development of WMC'S profile. audience and supporter awareness as well as wider Stakeholder
engagement-
the Venue & Environment Committee oversees premises and equipment, in particular building and
facilities maintenance and development. It also has a specific brief to oversee and audit Health &
Safety and Safeguarding and provides annual reports to the Full Board.
The Directors consider that the Board of Directors. who are the Trust's Trustees, and the Senior Management
Team comprise the key management personnel of the charity in charge of directing, running and operating
the Trust on a day-to4ay ba51S.
All Trustees l Directors give iheir time freely and no director received remuneration in the year. All staff roles
are paid at least National Living Wage arid wages are reviewed annually.. any increase is based on an
assessment of affordability. general inflation indice5 and individual performance. Salaries are regularly
benchmarked against pay levels in other charitbes of a similar nature and size.
B¢aTd Development Plan
As articulated in our application to Arts Council England to be a National Portfolio Org3nis3tion for period
2023-26. the 8oard is committed to continuously assessing and improving the organisatiC&n's governance
structures as well as its own effectiveness. As part of a Governance Review initiated in 2017. the Board
adopted a Governance Development Plan which supports the development of the staff team, the place and
the oiganisation. In 2022123 the key areas of focus were= 3 budget for Trustees. training and development to

The Wiltshire Music Centre Trust Limited
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Trustees. Re
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for the Year Ended 31 March 2023
complement the induction process and ensure continuous skills development of all Trustees. an annual skills
and competences audit which will inform recruitment of new Trustees to wi¢Jen Board diversity., the
maintenance of an online Governance Hub which holds all policies Wlth details of review dates: specifi
policies to be owned by each of the Committees. and their Terms of Reference reviewed on a regular basis:
finally, in terrns of the Board's Monitoring Role, Board meetings have a stronger focus on Committee Reports
and progress monitoring versus targets.
Fundraising organisation
The Director of Development oversees and monitors all fundraising activities undertaken by the staff team
(including the Trust5 & Foundations Manager and Fundraising Coordinatorl on behalf of the charity.
Fundraising activities were carried out in. line with the Code of Fundraising Practice and Data Protection
Regulations IGDPRI. No cornplaint wès received by the charity or a person acting on its behalf about
fundiaising activities carried out by the charity. we did not unreasonably intrude on anyone's privacy. and we
ditl not use unreasonable approaches for the purpose of soliciting or place undve Pfessure on any person to
give money or other property.
Investment powers and policy
Under the Articles of Association. the charity has the power to invest funds after obtaining advice from a
financi31 expert and can delegate fflanagement of those investments to that fin3nci31 expert. The charity's
Investment Managers are Inve5tec Wealth & Investrnent Limited. Our Investment Policy has been developed
with their advice and with the objective of ensuring the creation of sufficient income and capital generation
to enable the charity to carry out its purposes consistently with due and propèr consideration for its future
needs, and the maintenance and enhancement of the value of the invested funds.
A5 per the Investment Policy,. the comparbVs a55ets must be invested in accordance with the Trustee Art 2000
and invested prudently in a broad range of individual bond5. equities and collective investment vehicles which
are authorised untJer the Financial Services and Markets Act 20￿. The portfolio is managed in accordance
with the charity'5 Ethical Policy as follow5.. no individual stock should account for more than IO% of the equity
content of the portfolio.. no individual bond should account for more than IO% of the total portfolio.. and
investment in negotiable instruments known as derivatives are not permitted in any circumstances.
The Finance and Resources Committee ensures that the Investment and Ethical policies are being adhered to
and undertakes regular portfolio reviews with its Investment Manager. The Commbttee has delegated
authority from the Board to take decisions in relation to the use and management of reserve5 but is required
to report any transactions in a timely manner to the full Board and in line with the chariws Articles of
Association. The Investment Manager reports annually to the Full Board in person.

The Wiltshire Music Centre Trust Limited
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Trustees, Re
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for the Year Ended 31 March 2023
FUNDING AND SUPPORTERS
Core funding
The Trust continued to receive public funding from Arts Council England as a National Portfolio Organisation
in 2022123 totalling £110,865, which was a one-year extension to our four-year funding agreement for period
2018-22. Wiltshire Council's on8oing support was also crucial to the Centre's continuing fundraising success
and we received a core grant of £21,656 in 2022123. The Trust's close working partnership with Arts Council
England and Wiltshire Council. and their continued investment in the Centre, underpins the funding we raise
each year to support education projects across the county and beyond. This support is both polTtically and
financially important as tt demonstrates an active interest in the Centre itself as well as in the activities hosted
in the Trust's community outreach work.
Core funding was received from a number of Trusts and Foundations ineluding the Joyce Fletcher Charitable
Trust, the Medlock Charitable Trust, the S D Whitehead Charitable Trust. the D'oyly Carte Charitable Trust,
Fidelio Charitable Trust and Roper Family Charitable Trust. many of whom have supported the Centre for 3
number of years. We are very grateful for the continuing support of these Trusts. Donations were also
solicited from individuals through direct mail. and community fundraising activities. and over £65,340 was
received during the year. including outstanding Gift Aid and pledges, and we received legacy gifts totalling
£19,0
Our 2022123 Concert Programme was supported by Orchestra5 Lr¥e, the Cavatin3 Trust and-Friends and
Angels of the Wiltshire Music Centre as wellas number of indNiduals who gave donations forspecific concerts
and events. Additionally. significant in-kind support was receNed from longstanding sponsoTS Steers McGillan
Eves and the Swan Hotel, and relationships were carefully stewarded with all other re8tAlar sponsors
throughout the period. resultine in renewed support in 2023124. This support is highly valued and has helpeil
the Tfust to continue to present a diverse and accessible concert programme,. it also enabled us to maintain
our cont3ct with existing customers, encourage new audiences. and support professional musicians during
the period.
The Creative Learning & Community Engagement Programme was also once again made possible by the
generous support of numerous grant-gtving organi5ations and businesses. These included our Youth
Orchestras Sponsor Steve Vick international. Arnold Clark CommLsnity Fund. Art5 Generation Companv,
Ashley Family Foundation. Combined Charities Fuftd Ifor the Mentally Handicapped). Colonel William
Llewellyn Palmer Education Charity. Felicity Wilde Charitable Trust, Goldsmiths Foundaiion. Golsoncott
Foundation, Jatk Lane Charitable Trust. Moto Foundation. Nugee Foundation. Radcliffe Charitable Trust,
Ronnie Scott Charitable Foundation. RTR Foundation, Scops Arts Trust, The Odgen Trust. Weinstock Fund.
Wiltshire Community FoLJndation, The John Lewis Foundation. The National Lottery Community Fund. The
Orinoco Foundation and Wiltshire Council Area Boards and Classical Season Sponsor Cobb Farr.
There are also many individuals who have sUPPOrted the work of the Centre. many of whom do so
anonymously and with minimal recognition. and the Trust is mostgrateful to these donors fortheir generosity
and kindness. Th45 funding enabled the Trust to continue to deliver vital community programmes and creative
learning projerts throughout the year. while embracing digital delivery to ensure sustained provision
throughout the pandemic.
Friends, Angels and Patrons
Our general membership scheme which stsrts from £30 a year provided vital financial support for our world-
class concerts and educational projects. This programme continued to develop during 2022123 and included
264 active members.. 229 Friends and 10 Angels. Friends and Angels were offered the opportunity to take
part in various virtual events. including regular receptions, meet-the-artist events. a Season Preview and

The Wiltshire Music Centre Trust Limited
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Christmas celebrations. 25 Patrons of the Youth Orchestrès IWEYO and WYJOI continued to support these
high-quality progression routes for c. ICQ talented local yOLbng musician5 each year. making them accessible
to all based on musical talent ratherthan financial background. Patrons were updated regularly on the young
players they 5LlPPOrt and were thanked publicly by WEYO principal conductor Timothy Redmond as part of
the New Year Gala concert.
ORGA141SATIONAL DEVELOPMENT
Staff Team
The Senior Leadership Team ISLTI comprise5 the Chief Executive & Artistic Director, Head of Finance. Director
of Development & Communications. and Head of Creative Learning & Community Engagement. There were
two significant staff changes in the period including the Head of Finance and the Dirertor of Development &
Communications. The role of Head of Finance has been filled although having split the role of Difettor of
Development & Communications into two separate positlOAS we are still looking to appoint a permanent
Director of Development. Two members of the SLT were also on maternity leave during the year and this
resulted in some instability in the fundraising team.
Full-time equivalent headcount of the permanent core staff ècross the year wa$ 12.7 and there were fNe full
time roles, one job Share and 11 pèrt-time posltions. Other staff changes in the period included the Technical
Manager, Trusts & Foundations Manager, Creative Learning Assistant and Marketing Coordinator, and all of
these positions were refilled. The permanent team a150 comprise5 casual Concert Managers. Box Office &
Team Assistants, an¢J freelance coordinators. artists and facilitators.
Volunteers
A loyal group of volunteers support various activities at the Centre throughout the year. Volunteers act as
Stewards for all events. they ensure a Breat experience for our autliences and participants by providing a
welcoming, safe and professional environment. and enable the Centre to plan and deliver more activitv.
During 2022123 a core Broup of 66 volunteers supported events and artivities at the Centre and contributed
over 4.268 hours of their time.
Environmental sustainability
The Trustees commissioned Architect ILa8oxl and M&E consultant IE31 to undertake 3 comprehensive audit
of the Trust's carbon usage and make recommendations for future development. The final report for thbs was
delivered in December 2022 and has resulted in the creation of an ambitious four-year Carbon Reduction
Programme with a phased approach to reducing the Centre's carbon usage over time. In line wtth the
Investment Principle set out in Arts Council England's 'Let's Create. strategy. we have also appointed a staff
Environmental Responsibility Champion who leads an Environmental Working Group which meets quarterlv
to advise and make recommendations for improvements to how we run our building and 5ervites. The
Gardening Club also continued to increase biodiversity around the Centre and we have consulted with staff
members to proactively i(Jentify areas we could improve in the future.
FINANCIAL REVIEW
Finan¢e5
Following a challenging year. the Trustee5 present an unrestricted operatin8 deficit Ibefore investment resLsltl
of £247,642 throughout the year we sought to stabilise the organisation. rebuild our audience base and
develop new income streams. whi15t building on opportunities arising from our investment in new digital
technology.

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for the Year Ended 31 March 2023
Risk management
The Trustees have implemented a two-slage approach to the Trust's risk management Strategy. Thi5
cornprises an annual review of the principal business risks and uncert3intie5 that Wiltshire Music Centre faces
together with the risk mitigation plans. which include the business systems and processe5 the Senior
Management Team have put in place to minimise the likelihood of these risks occurring. The annual business
risk assessment also involves identifyinB those risks which have materialised into issues and the procedures
and actions that are being implemented to deal with them. The Trustees consider that a major risk is one
which, if materialised. would have a Significant adverse impart on WMC'S ability to function and achieve its
tharitable objects in the shon. medium, or long term.
In addition to this. the Centre has an operational risk assessment procedure for activity that it undertakes. All
Staff and Volunteers are asked io consider the risks that are p05ed when engaging in any WMC activity and
to act in accordance with any recommendations made for risk management. There are specifie operational
risk a55essments for different types of events such as school concert5. festiv3ls and outdoor or off-site activity,
as well as operational activity such as safeguarding, lone working and working at height. These operational
risk assessments are undertaken by the staff members concerned with ihe support of the Facilities Manager.
They are reviewed and approved by the Chief Executive & Artistic Director. Operational and building related
risks are also reviewed annually by external Health & Safety consulrants who visit the Centre twite a year.
The Trustees have reviewed the business risks faced by the charity. and the major risks after mitigations
identified are..
Reduction in ticket sales because programme no longer attracts audience. core audience becoming
too elderly to attend live events. and audiences not being renewed
Loss of funding from any public sertor reliant Source. in p3rti¢ular reduction in Arts Council England
and Wiltshire Council
Less fundraising achieved from individuals, Tfusrs & Foundations & businesses
Regular funding partners105e their funding
Each Committee of the B03rd have ownership of the relevant risks associated with their area of responsibility
and monitor these, reporting back to the full Board on a quarterly basis.
Reserves poliry
At the year end the Trusvs reseNes totalled £2,339,079 which breaks down as follows-
£134,428 are restricted
£1,578,439 are des18nated as fixed assets
£200.c￿ are designated for Building Maintenance
£200.000 are designated for Risk Management (including loss of income)
£50,(K)O are designated for Environmental Sustainability
£179.212 are unrestricted and available for general use by the charity
The Trust's reserves policy is based on a detailed analysis of the minimum level of reserves required based on
an assessment of the main risks relating to loss of income and specific investment project expenditure. To
ensure that the freehold property 15 maintained to the highest standard and to provide the best possible
environment for 311 visitors to the Centre. the Trust has committed to a Building Maintenance reserve of
£200,0(K). The reserves policy also requires that the designated reserve includes a Risk Management fund
maintained at a level which will enable the Trustees to adjust the business model to compensate for potential
adverse operating conditions over a 2-year period. The Tru5t'5 policy is to hold a minimum of £150.000 in
unrestricted cash reserves (currently £nill, which can be supported by the risk management designated
reserve if required.

The Wiltshire Music Centre Trust Limited
TSHIRE
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Tru5tee5' Re
ort
for the Year Ended 31 March 2023
111 Having given due consideration to the guidance within Section 2.12 of the Charities Statement of
Recommended Practice ISORP 20191 and reviewed presentation of reserves. since the financial year ended
31 March 2019 311 fixed assets reserves are now shown as unrestricted reserves to better reflect their nature
(see Note 191.
GOING CONCERN
The Trustees believe that. based on the forecasts for the next 12 months and the reserves position. the Trust
has adequate resources to continue in operational existence for the foreseeable future, and for the going
concern bas1S to remain an appropriate basis on which to draw up these financial statements.
WMC'S YEAR IN REVIEW
Throughout 2022123 Wiltshire Music Centre continued to play a vital role in the musical life of Wi115hire and
beyond through its work as a community centre, a creative learning hub and as the only professional concert
hall in the county. Supported by a significant investment in new digital techno108y in 2021122, WMC was able
to offer access to high Quality projects and artistic programming for audiences, provide crucial development
routes and opportunities for young and emerging artisis. and to develop our work with more isolated and
vulnerable members of the community.
At the Centre
Providing progression routes and performance opportunities
WMC continued to deliver courses for the West of England Youth Orchestra IWEYOI and the Wiltshire Youth
Jazz Orchestra IWYIOI throughout the year. supporting the development of over 80 young musicians through
seven intensive courses. The players rehearsed and performed challenging repertoire under the direction of
Timothy Redmond. Karen ni Bhroin. Mike Daniels and a team of outstanding tutors. These fegular courses
re a vital progression route for talented young players. developing their skills and performance experience
in a professional setting. The Centre also continued to deliver the Wiltshire Jazz Academy providing monthly
sessions for young jazz musicians and this engaged 40 people over ihe course of the year.
We continued to deliver on our commitment to provide an affordable annual cost for participation in these
ensembles, offering up to full btjrsaries for players with lower household income or additional needs. Six
voung musician5 took advantage of the scheme.
In the Community
Leading Phase 2 of the Celebrating Ase Wiltshire project
In May 2020 WMC received a multi-year grant of £385,500 from the National Lottery Community FLbnd to
deliver Phase 2 of the Celebrating Age Wiltshire ICAWI project over four years. This county-wide partnership
project delivers cultural event5 and aclivity in community settings to support the wellbeing of i501ated older
people. The project team has built strong relationships with GP Care Co-ordinator5, Social Prescribers,
Community Connectors and Care worker5. artd developed a suite of regular activities that are accessible to
people in their homes, including doorstep concerts. one-to-one creative tonversations and artlnature
workshops. The project reached over 4.CMX) people in eleven Wiltshire areas during the year.
Pn>¥iding support for young leaming4isabled adults
WMC continued to deliver the Zone Club project which provide5 SLlPPOrt for learning-disabled young adults
116+1 through monthly Cfeative workshops and sharing opportunities. During the monthly sessions, Zone
Clubbers were expertly supported by musicians, music therapists. filmmakers and theatre practitioners to

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express themselves Cfeatively and share ideas. supporting increased wellbeing and reduced social isolation.
Additional artivily included the 'Grurnpy Bear Cafe which offers Zone Club members the chance to host an
informal coffee morning at the Centre. creating a Christmas Song for BBC Radio Wiltshire, and performing a
set on the main stage at the Bradford Roots Festival.
Schools. engaBement
We continued to SLTrPPQrt the creative curriculum in schools acr05S the county. workinB With visiting artists to
produce inspiring in-sch¢)ol projects and performances for local primary,"secondary. and special schools. In
November 2022 WMC produced community opera Iyhe Moon Hares'l in partnership with the Orchestra of
the Age of Enlightenment IOAEI. This intergenerational project involved three local Schools (primary and
special schools), as well as members of WMC'5 zone Club for young le8rning41isabled adults. and an amateur
choir IWMC Chorus), who all participated in workshops led by OAE musicians. The project Culminated in
sell-out performance alongside members of the OAE èt WMC. In January 2023 we worked with leading
contemporary music group. Riot Ensemble. to deliver composition workshops in two local secondary schools
1st Laurence and Abbeyfieldl, with the professional musicians supporting school pupils to compose their own
works using the graphic score technique.
Families
The Centre delivers a dedicated programme of concerts and events for children of different age5. In 2022123
we programmed four professional family concerrs which featured leading arts education groups such as the
Galliard Ensemble and Flock Theatre Maker5. We also delivered My Science Fair which is a free one-day music
and science festival for families featuring concerts. workshops and a project competition in partnership with
the University of Bath Physic5 Department. Over 400 people attended on the day with 15 children
participating in the final stage of the project competition. with IS student5 from the University of Bath
supporting the event. DUT￿ng the summer holiday we delivered a programme of workshops and activities for
children and young people led by local art5 practitioners I'summer Fun'l, which included 'Musical In A Week,
and attracted 276 participants in total.
From the Stage l Artistic Programme
WMC presented an ambitious and diverse Artistic Programme featuring 50 profession31 concerts by some of
the world's finest classical, ia21, world and folk musicians, including the Orchestra of the Age of
Enlightenment. Courtney Pine. VOCE58. Hot Club of Cowtown. Bournemouth Symphony Orchestra and Eliza
Carthy. Other highlights of the concert programme included..
developing our audiences in key genre area5. induding classical euitarlflamenco dance (Maria Vega,
Juan Martinl, folk181aiin' Fiddles). West African Music (N'famady Kouyate and AKA Triol and swing
(The Lindy Hop Dance Companvl..
welcoming back returning artists including Cara Dillon, SPIRITATO. Cordelia William5, Marmen
Quartet and the Doric Quartet-
marking the start of our 25th Anniversary Year with a concert by the choir of Clare College, Cambridge
which included a performance by the WMC Chorus..
our Young Artist Pro8ramme continued to flourish with lunchtime recitals by talented young
professionals including pianist Vidor tim to violist Jordan Bak.
Our digital livestream concert programme was also expanded to include free access for local care homes t
WMC'S online conteni. Investing in our digital livestream capactty has transformed our ability to reach wider
and rnore diverse audiences. transcending the geographical barriers of our rural county, time constraints
(with Watch Again facility) and fhnancial limitations through a more affordablelaccessible ticket offer.
io

The Wiltshire Music Centre Trust Limited
TSAIR
si
E14TR
Tru5tees' Re
ort
for the Year Ended 31 March 2023
STATEMENT OF TRUSTEES RESPONSIBILITIES
The Trustees Iwho are also the Dirertors of The Wiltshire Music Centre Trust Limited for the purposes of
company lawl are re5pon5ible for preparing the Trustees, Report and the financial Statements in accordance
with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
Company law requires the Trustees to prepare financial stalements for each financial year which give a true
and fair view of the state of affairs of the charitable company and of the incoming resources and application
of resources. including the income and expenditure, of the charitable company for that period. In preparing
those financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently,.
observe the methods and principles in the Charity SORP..
make judgements and estimates that are reasonable and prudent,.
prepare the financial statements on the going concern basi5 unless it is inappropriate to presume
that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records whith disclose with reasonable accuracy
at any time the financial position of the charitable company and to 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 reasonable steps for the prevention and detection of fraud and
other irregularities.
In so far as the Trustees are aware..
there is no relevant audit information of which the charitable company's auditors are unaware..
and the Trustees have taken all steps that they ought to have taken to make themselves aware of any
relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors. Moore. will be proposed for re-appointment at the forthcoming Annual General Meeting.
li

The Wiltshire Music Centre Trust Limited
TSHIRE
usic
ENTRE
Trustees. Re
ort
for the Year Ended 31 March 2023
CONCLUSION AND THANKS
Despite all the challenges faced during this period and in particular the 0fi8oing impart of the pandemic. the
organisation has remained focused on its objects and mission and is confident about its luture. I would like
to thank all the Trustee5 for their support as we negotiated difficulties which we could hardly have imagined
at the start of the year. I would a150 like to thank each and every member of staff, and our volunteers, our
sponsors and funders, ourAngels and Friends, Volunteers and Concert Managers. and all associated with the
Centre. It takes a great deal of skill to le8d and manage a cultural organisation in the current climate and I
would like to thank the Senior Management Team for their resilience. imagination, adaptability and sheer
hard work to steer us through this challenging time.
This Annual Report was approved by order of the Board of Trustee5. as the company Dirertors. on 8
December 2023 and signed on the Board's behalf by:
l A I Wetz- Chair
12

The Wiltshire Musit Centre Trust ￿rnited
TsHifiE
vsic
ENTRÉ
Re
ort of the Inde
endent Audttors to the Members of
The Wiltshire Music Centre Trust Limited
Opinion
We have audited the financial statements of The Wiltshire Music Centre Trust Limited (the 'tharitable
company'l for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the
8alance Sheet. the Cash Flow Statement and notes to the financial statements. including a summary of
significant accounting policies. The financial reporting framework that has been applied in their preparation
is applieable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Atcounting
Practice).
In our opinion the financial 5tatements'.
give a true and fair view of the state of the charitable cornpany's affairs as at 31 March 2022 and
of its incoming resources and application of resources. including its income and expenditure, for
the year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice.. and
have been prepare(l in accordance with the reqLbirements of the Companies Act 2006.
Basis for opinion
We conductèd our audit in accordance with International Standards on Auditing IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the
audit of the financial statements section of our report. We are independent of the charitable company in
accordance with the ethical requirements that are relevant to our audit of the financial statement5 in the UK,
including the FRC'S Ethical Standard. and we have fulfilled our other ethital responsibilities in accordance
with these requirements. We believe that the audil evidence we have obtained is sufficient and appropriate
to provide a basi5 for our opinion.
Conclusions relatlng to going concern
In auditing the financial statemertts, we have Concluded that the trustees, use of the going concern basi5 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 condition5 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 twefve months from when the financial statements are authorised for
issue. Our responsibilities and the responsibilbties of the trustees with respect to going concern are described
in the relevant sections of this report.
Other inforrnation
The trustees are responsible for the other infomiation. The other information comprises the information
intluded in the Annual Report, other than the financial statements and our Report of the Independent
Auditors thereon. Our opinion on the finantial statements does not cover the other information ènd, except
to the extent oiherwise elplicitly stated in our report, we do not express any form of assurance conclusion
thereon.
In connection with our audit of the financial statements. our responsibility 15 to read the other information
nd, in doing so, consider whether the other Trnformation is materially inconsistent with the financial
statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we
identify such material incon515ten¢ies 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 performed. we conclude that there is a material misstatement of this other information. we
re required to report that fact. We have nothing to report in this regard.
13

The Wiltshire Music Centre Trust ￿"MIted
ENTRE
Re
ort of the Inde
ndent Auditor5 to the Membef5 of
The Wiltshire Music Centre Trust Limited
Opinions on other matters prescribed by the Companie5 Art 2(W)6
In our opinion. based on the work undertaken in the course of the aud¢t.'
the information given in the Report of the Trustees for the financial year for which the financial
statements are prepared is consistent with the financial statements.. and
the Report of the Trustees has been prepared in ac¢ordan¢e with applicable legal requirements.
Matters ¢n whl¢h we are required to report by eM¢eptlon
In the light of ihe knowledge and understanding of the charitable company and its environment obtained in
the course of the audit. we have not identified material misstatements in the Report of the Trustees. We
have noth%ng to report in fespect of the following matters where the Companies Act 2006 requires us to
report to you if. in our opinion..
adequate accounting records have not been kept or returns adequate for our audit have not been
received from branches not visited by us: of
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.
Respons•bilities of irustees
As explained more fully in the Siatement of Trustees. Responsibilities. the trtJStees (who are also the directors
of the charitable company for the purposes of company lawl are responsible for the preparation of the
financial statements and for being satisfied that they give a true and fair view. and for such internal control
as the trustee5 determine 15 necessary to enable the preparation of financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statement5, the trustees are responsible for assessing the charitable company's
ability to continue a5 a going concern. disclosing. a5 applicable, matters related to going concern and using
the going concern basis of accounting unless the trustee5 either intend to liquidate the charitable company
or to cease operations, or have no realistic alternative but to do so.
14

The Wiltshire Music Centre Trust Limited
TSHIRE
usic
ENTRE
Re
ort of the Inde
endent Auditor5 to the Member5 of
The Wiltshire Music Centre Trust Limited
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
frée from material misstatement, whether due to fraud or error. and to issue a Report of the Independent
Auditors that includes our opinion. Reasonable a55urante is a high level of assurance. but is not a guarantee
that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if. individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on the b3SIS
of these financial statements. The extent to which our procedures are capable of detecting irregularities,
including fraud is detailed below=
Explanation a5 lo what extent the audit was considered capable of detecting irregularities. including fraud
The objectives of our audit in respect of frau(J, are,. to identify and assess the risks of material misstatement
of the financial statements due to fraud: to obtain Sufficient appropriate audit evidence regarding the
assesseé risks of material misstatement due to fraud. through designing and implementing appropriate
responses to those assessed risks.. and to respond appropriately to instances of fraud or suspected fraud
identified during the audit. However. the Primary responsibility for the prevention and detection of fraud
rests with both managemeni and those charged with governance of the company.
Our approach was as follows:
We obtained an understanding of the legal and regulatory requirements applicable to the company and
considered that the most significant are the Companies Act 2006. the Charities Act 2011. the Charity SORP.
and UK financial reportinÉ standards as issued by the Financial Reporting Council.
We obtained an understanding of how the company complies with these requirements by discussions with
management and those charged with governance.
We assessed the risk of material misstatement of the fjnantial statements. including the risk of material
misstatement due to fraud and how it might occur. by holding discu$5ions with management and those
charged with governance.
We inquired of management and those charged with goverriance as to any known instances of non-
compliance or suspected non-compliance with laws and regulations.
Based on this understanding, we designed spècific appropriate audit procedure5 to identify instances of non-
compliance with laws and regulations. This included making enquiries of management and those charged
with 8overnance and obt8ining additional corroborative evidence as required.
A further description of our responsibilities for the audit of the financial statements is lotated on the Financial
Reporting Council's website at www.frc.org_uklautlitorsresponsibilities. This description forms part of our
Report of the Independent Auditors.
15

The Wiltshire Music Centre Trust Limited
TSHI
ÉNTRE
Re
ort of the Inde
endent Auditors to the Members of
The Wiltshire Music Centre Trust Limited
Use of our report
This report made solely to the charitable company's members. as 3 body. in èccordance with Chapter 3 of
Part 16 of the Companies Art 21)36. 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 auditors. report and for
no other purpose. To the fullest extent permitted by law. we do not acceptor assume responsibilityto anyone
other than the charitable company and the charitable company's members as a body. for our audit work, for
this report, or for the opinions we have formed.
Mark Powell (Senior Statutory Auditor)
for and on behalf of Moore
Chartered Accountants and Statutory Auditor
30 Gay Street
Bath
BAI 2PA
Date..
16

The Wiltshire Music Centre Trust Limited
TSHIRE
sic
ENTR
Statement of Financial Activities
for the Year Ended 31 March 2023
31.3.23
Total
funds
31.3.22
Total
funds
Unrestricted Restricted
funds
funds
Notes
INCOME AND ENDOWMEiifs FROM
Donations and Segacies
219,227
202,034
421,261
499,751
Charitable activities
Concerts
Sponsorship
Educational activities
Friends membership subscriptions
Other trading activities
Investment income
173.041
20.495
5,250
48.808
193,536
8,250
99,600
24,504
133,632
32,513
101,888
10,000
88,985
16,971
110,840
31.720
50.792
24.504
133.442
32.513
190
Total
636.519
276,777
913.296
860.155
EXPENDITURE ON
Raising funds
44.174
844
45.018
40,018
Charitable activities
Concerts
Educational a¢tivities
Management and administration
Other costs
526,930
263,204
51,089
790.134
$1,089
10.527
264.170
625.014
48,592
14,921
262.500
10.527
258,923
5,247
Total
840.554
320.384
1.160.938
991.045
Net gainslllossesl on investments
156.4281
156,4281
26,725
NET INCOMEIIEXPENDITUREI
1260,4631
143.6071
1304.0701
1104.1651
RECONCILIATION OF FUNDS
Total funds bfought forward
2.465.114
178.035
2,643.149
2,747,314
TOTAL FUNDS CARRIED FORWARD
2.204,651
134,428
2,339,079
2,643,149
17

The Wiltshire Music Centre Trust Limited
TSHIRE
usic
ENTRE
Balance Sheet
31 March 2023
31.3.23
Total
funds
31.3.22
Total
funds
Unrestricted Restricted
funds
funds
Notes
FIXED ASSETS
Intangible assets
Tangible assets
Investments
13
30.337
14 1,548.102
15
737.405
30.337
1.548,102
737,405
12.264
1,620,124
797.655
2.315.844
2,315,844
2,430.043
CURRENT ASSETS
Stocks
Debtors
Cash at bank
16
17
2.672
51,579
3.822
2,672
72.043
117,786
1,703
100,480
261.700
20,464
113.964
58.073
134.428
192,501
363,883
CREDITORS
Amounts falling due within one year
18
1169,2661
1169.2661
1150,7771
NET CURRENT ASSETS
1111,193}
134,428
23.235
213.106
TOTAL ASSETS LESS CURRENT LIABIUTIES
2.204,651
134.428
2,339,079
2,643,149
NET AssErs
2.204.651
134,428
2.339.079
2.643,149
18

The Wiltshire Music Centre Trust Lrmited
TSHIRE
sic
ENTR
Balance Sheet - continued
31 March 2023
FUNDS
Unrestricted funds
Restricted funds
19
2,204.651
134.428
2,465,114
178,035
TOTAL FVNDS
2,339,079
2.643.149
The financial statements were approved by the Board of Trustees and authorised for issue on 8 December
2023 and were signed on its behalf by-
J A I Wètz- Chair
19

The Wiltshire Music Centre Trust Limited
wi
TSHIRE
sic
Cash Flow Statement
for the Year Ended 31 March 2023
31.3.23
31.3.22
Note5
Cash flows from operating artivities
Cash generated from operations
1124.4701
150.0581
Net tash (used inl/provided by operating artivities
{124.4701
150.0581
Cash flow5 from investing activities
Purchase of intangible fixed assets
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of intangible fixed assets
Sale of tangible fixed assets
Sale of fixed asset investments
Dividends received
123,3331
132,4461
148,1221
19.7831
125,7141
126.7241
3,202
12.8421
26.725
31,720
51.944
32.513
Net cash used in investing activities
119.4441
13,4161
Cash flows from Ilnancing activities
Loan repayments in year
50.OW}
Net cash lused inllprovided by financin8 activities
150,0001
Change in cash and cash equi¥•lents in
the reporting period
1147.7361
1103,4741
Cash and cash equivalents at the
beglnning of the reporting period
261.700
365,174
Cash and cash equivalents at the end
of the reporting period
117,786
261,700
20

The Wiltshire Music Centre Trust Limited
ENTRE
Notes to the Cash Flow Statement
for the Year Ended 31 March 2023
RECONCILIATION OF NET (EXPENDITUREIIINCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31.3.23
31.3.22
Net lexpenditurellincome for the reporting period (as per the
Statement of Financial Artivitiesl
Adjustments for:
Depreciation th3rges
Gain on inve5trnents
Loss on disposal of fixed assets
Dividends received
Decrease in stocks
Ilncreasel/decrease in debtors
Increaselldecreasel in creditors
1304.0701
1104,1651
109,728
56.428
112,920
126.7251
2.842
131,7201
204
143,0641
39.650
132.5131
19691
28.437
18.489
Net cash {used •n}Iprovided by operations
1124.4701
150,0581
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.22
Cash flow
At 31.3.23
Net cash
Cash at bank
261,700
1143,9141
117.786
261,7
1143.9141
117.786
Total
261,7C
1143.9141
117.786
21

The Wiltshire Music Centre Trust Lirnited
HIRE
usic
ENTRE
Note5 to the Financial Statements
for the Year Ended 31 March 2023
AccouMfiNG POUCIES
Basis of preparing the financial Statements
The financial statements of the charitable company. which is a public ber)efit entity under FRS 102,
have been prepared in accordance with the Charitie5 SORP IFRS 1021 '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 l January 20151,. Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland. and the Companies Act 2C￿6. The financial statements
have been prepared under the historical cost convention with the exception of investments whieh are
included at market value, as modified by the revaluation of certain assets.
General inforniation
The charity is a private company limited by guarantee. registered in England and Wales and a
registered charity in England and Wales. The address of the registered office is Ashley Road. Bradford
on Avon, Wiltshire BA15 IDZ.
Going concern
The Trustees believe that. based on the forecasts for the next 12 months and the reserves position.
the Trust has adequate resources to tontinue in operational existence for the foreseeable future, and
for the going concern basis to remain an appropriate basis ort which to draw up these financial
statements.
Income
All incoming resources are included in the statement of financial activities when the charitv 15 entitled
to the income, any performance conditions attached to the itemlsl of income have been met. its
receipt is probable and the amount can be measured reliably. The following policies are applied to
particular categories of income..
Incoffle from concerts is included in the period in which the relevant performance takes place and is
stated after discounts and net of VAT where applicable. Income received in a¢fvance of a tontert or
provision of other specified service is deferred until the criteria for income recognition are met.
Income from grants, whether 'capital' grants or 'revenue' grants. is recognised when the charity has
entitlement to the funds, any performance conditions attached to the grants have been met. it 15
probable that the income will be received and the amount can be measured reliably and is not
deferred.
For legacies, entitlement is laken as the earlier of the date on which either.. The charity is aware that
probate has been granted, the estate has been finalised and notification h3s been made by the
executorlsl to the trust that a distribution will be made, or when a distribution is received from the
estate. Receipt of a legacy. in whole or in part. is only considered probable when the amount can be
measured reliably and the charity has been notified of the executor's intention to make 3 distribution.
Where legacies have been notified to the charity. or the charity 15 aware of the granting of probate,
and the criteria for income re¢ognition have not been met. then the legacy is a treated as a contingent
asset and disclosed if material.
Donated facilitie5 and service5 are recognised in income at their fairvalue when their economic benefit
is probable, it can be measured reliably and the charity ha5 control over the item.
22

The Wiltshire Music Centre Trust Limited
SHIR
ENIR
Note5 to the Financial Statements continued
for the Year Ended 31 March 2023
ACCOUNTING POUCIES- continued
Income
No amount is included in the financial statements for volunteer time in line with the SORP IFRS 1021.
Further detail is given in the trustees. annual report.
expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third
party, it is probable that settlement will be required and the amount of the obligation can be measured
reliably. Expenditure includes any VAT which cannot be fully recovered. The following policies are
applied to particular Categories of expenditure..
Charitable expenditure comprises those costs incurred by the charity in the delivery if its activities and
services for its beneficiaries. It includes both costs that can be allocated directly to such activities and
those cos15 of an indirert nature necessary to 511PPOrt them_ Such indirect costs are albocated to
activities in proportion to the time spent by staff on each activity.
Governance costs are included in charitable expenditure and include those costs associated with
meeting the constitutional and statutory requirements of the charity and include the audit fees and
costs linke¢J to the strategic manègement of the charity.
Amortlsation
Amortisation is cakulated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset a5 follows:
Website - 5 years
Box Office system - 5 years
Tangible fixed assets
All fixeil assets are initially recorded at cost and are subsequently stated at cost less any accumulated
depreciation.
Depre¢ialion
Depreciation is calculated so as to write off the c05t of an asset, less its estimated residual value, over
the useful economic life of that asset as follows=
Freehold Property- 50 years
Office Equipment - 5 years
Fixtures. Fittings and instruments- 4 or 10 years
Plant and machinery - 5 or 10 years
Stocks
Stocks are valued at the lower ofcost and net realisable value. after making due allowance for obsolete
and slow moving Items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
23

The Wiltshire Music Centre Trust Lrmited
IRE
sic
ENTR
Notes to the Financial Statements- continued
for the Year Ended 31 March 2023
ACCOUNTING POUCIES- continued
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general
objertives of the charity.
Designated funds are unre5tTiCted funds earmarked by the trustees for particulèr purpose5.
Restricted funds are funds which are to be used ID accordènce with Specific restrictions imposed by
donors or through the terms of an appeal.
Liabilities
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement. and the amount,
of the Settlement can be estimated reliably. Liabilities are recognised at the amount that the group
anticipates it will pay to settle the debt or the amount it has received a5 advanced payments for the
goods or services it must provide.
Financial instrurnents
The charity only has financial assets and financial liabilitie5 of a kind that qualify as basic financial
instruments. 6a5ic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortlsed cost using the effective interest method.
Debtors, creditors and cash at bank and in hand are measured at amortised cost and investments are
measured at their fair value.
Debtors
Trade and other debtors with no stated interest rate and due within one year are recorded at the
amount of the cash or other consideration expected to be received. Prepayments are valued at the
amount paid.
DONATIONS AND LEGACIES
31.3.23
31.3.22
Donations
Trusts and Foundation5
62,712
358,549
123.608
376,143
421,261
499.751
Grants received. included rn the above. are as lollow5-.
31.3.23
31.3.22
Grants
Charitable Trusts
178,076
180.473
234,242
141,901
358.549
376.143
24

The Wiltshire Music Centre Trust Limited
IRE
sic
E14TRE
Notes to the Financial Statements continued
for the Year Ended 31 March 2023
OTHER TRADING ACTIVITIES
31.3.23
31.3.22
Fundraising events
Core user income
Lettings intome
Bar and catering income
BoX office income
5.437
46,437
26.268
12,784
19,914
52,538
25.S26
33,508
22,060
133.632
110,840
INVESTMENT INCOME
31.3.23
31.3.22
Incorne from investments
32.513
31.720
INCOME FROM CHARITABLE ACTIVITIES
31.3.23
31.3.22
Activity
Concerts
Sponsorship
Educational activities
Friends membership subscriptions
Concert income
Sponsorship
Education project income
Friends membership subs
193.536
8.250
99,600
24.504
101.888
10.000
88,985
16.971
325.890
217.844
IIAISING FUNDS
Other trading activibes
31.3.23
31.3.22
Bad deb15
Marketing and PR costs
Bar, box office and lettings
Loss on sale of assets
2,006
6,092
30.931
1,117
4,520
23.778
2,842
39.029
32,257
25

The Wiltshire Music cefit￿ Trust Limited
HIRE
usic
ENTRE
Notes to the Financial Statements- continued
for the Year Ended 31 March 2023
RAISING FUNDS- continued
In¥e5tment rnanaiement costs
31.3.23
31.3.22
Portfolio management
5,989
7,761
Aggregate amounts
45.018
40,018
CHARITABLE AcnviTIES COSTS
Support
Costs (see
note 81
Direct
Costs
Totals
Concerts
Educational activities
Management and administration
Other costs
790.134
51,089
10.527
167,659
790,134
51,089
10,527
264,170
96.511
1,019,409
96.511
1.115,920
SUPPORT COSTS
Governance
costs
Management
Other
Totals
Other costs
55,419
27.979
13,113
96,Sll
NET INCOMEIIEXPENDITURED
Net income/lexpenditurel is stated after chargingllcreditingl:
31.3.23
31.3.22
Depreciation - owned assets
Deficit on disposal of fixed assets
Box Office 5V5tern amortisation
Website amortisation
Auditors, remtjneration
Auditors. remuneration - other services
104,468
105,630
2,842
2,360
4.930
4,900
I,soo
1.957
3,303
5.750
26

The Wiltshire Music Centre TnJst Limited
ENTRE
Notes to the Financial Statements- continued
for the Year Ended 31 March 2023
10. TRUSTEES, REMUNERATION AND BENEFITS
There were no tTUStees' remuneration or other benefits for the year ended 31 March 2023 nor for the
vear ended 31 March 2022.
Trustees. èxptnses
During the year trustees were reimbursed expenses amounting to £Nil12022: £Nill.
11. STAFF COSTS
31.3.23
31.3.22
Wages and salaries
Social security costs
Other pension costs
361,223
21.655
10.710
318.837
20.070
9.618
393.588
348.525
The average monthly number of employee5 during the year was as follows=
31.3.23
31.3.22
Concerts
Marketing
Education
Administration and support
13
13
No employees received emoluments in excess of £60.OLM).
No employee received remuneration of more than E60.OW during the year12022.. nill.
The Trustees consider Key Management Personnel to be the Chief Executive & Artistic Director. the
Head of Creative Learning & Community Engagement. the Director of Communications, the Director
of Development. and the Head of Finance. Their total benefrts during the year amounted to £155,873
12022: £158.0501.
27

The Wiltshire Music Centre Trust Limited
TSNIRE
sic
ENTR
Notes to the Financial Statements continued
for the Year Ended 31 March 2023
12. COMPARATIVES FOR THE STATEMENT OF FINAt4aAL AcllviTIES
Unrestricted Re5trirted
funds
funds
Tot61
funds
INCOME AND £NDOWMENTS FROM
Donations and legacies
375.150
124,601
499,751
Charitable art•vities
Concerts
Sponsorship
Educational attivities
Friends membership subscriptions
97.085
5,000
62.905
16.971
4,803
101,888
io.o(y)
88.985
16,971
26,080
Other trading activities
Investment income
110.840
31,720
110,840
31,720
Total
699.671
160.484
860,155
EXPENDITURE ON
Raising funds
39.088
930
40,018
Charitable activities
Concerts
Educational artivities
Management and administration
Other costs
429.183
195,831
48.592
4,750
3,633
625,014
48,592
14.921
262,500
10.171
258.867
T￿31
737,309
253,736
991.045
Net gains on investments
26.725
26,725
NET INCOMEI(EXPENDITURE)
Transfers between fvnds
110,9131
117.4761
193.2521
17,476
1104,1651
Net M¢￿ement ID lunds
128,3891
{75.7761
1104.1651
RECONCILIATION OF FUNDS
Total funds brought forward
2.493.503
253,811
2,747,314
TOTAL FUNDS CARRIED FORWARD
2,465,114
178.035
2.643,149
28

The Wiltshire Music Centre Trust Limited
TSHIRE
si¢
ENTR
Notes to the Financial Statement5- continued
for the Year Ended 31 March 2023
13. INTANGIBLE FIXED ASSETS
Box
Office
system
Website
Totals
COST
At l April 2022
Additions
9.783
24,650
23,333
34,433
23,333
At 31 March 2023
9,783
47,983
57,766
AMORTISATION
At l April 2022
Charge for year
821
1,957
21.348
3,303
22,169
5,260
At 31 March 2023
2.778
24,651
27,429
NET BOOK VALUE
At 31 March 2023
7.(XJ5
23.332
30,337
At 31 March 2022
8,962
3,302
12,264
14. TANGIBLE FIXED ASSETS
Fixtures
nd
fittings
Freehold
property
Plant and
machinery
Totals
COST
At l April 2022
Additions
2,433.618
380.031
13.552
534.813
12,450
3.348.462
32,446
At 31 March 2023
2.440.062
393.583
547,263
3,380,908
DEPRECIATION
At l April 2022
Charge for year
991,090
47.836
274,084
21.369
463.164
35,263
1,728.338
104,468
At 31 March 2023
1.038,926
295.453
498.427
1,832.806
NET BOOK VALUE
At 31 March 2023
1.401.136
98.130
48.836
1.548.102
At 31 March 2022
1.442.528
105.947
71.649
1,620,124

The Wiltshire Music Centre Trust Lirnited
TSMIRE
51C
EN
Notes to the Financial Statement5 continued
for the Year Ended 31 March 2023
15. FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
At l April 2022
Additions
Disposals
Revaluations
797.655
48,122
118,2371
190,1351
At 31 March 2023
737.405
NET BOOK VALUE
At 31 March 2023
737,405
At 31 March 2022
797,655
There were no investment assets outside the UK.
Analysis of investments at 31 March 2023
Total Funds
2023
2022
Listed investments
UK cash held as part of portfolio
737,405
794,072
3,583
737,405
797,655
16. STOCKS
31.3.23
31.3.22
Finished goods
2,672
1.703
30

The Wiltshire Music Centre Trust Limited
TSHIA
ENTri
Notes to the Financial Statements- continued
for the Year Ended 31 March 2023
17. DEBTORS: AMOUNTS FALUNG DUE WITHIII ONE YEAR
31.3.23
31.3.22
Trade debtors
Other debtors
Prepayments and accrued income
16,140
14.650
41,253
15.761
21,819
62.900
72,043
100.480
18. CREOITOfiS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23
31.3.22
Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income
72.381
5,741
2,831
3.954
84.359
70.667
5.613
1,173
1.452
71.872
169.266
150,777
19.
MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
between
funds
At
31.3.23
At 1_4.22
Unrestrirted funds
General fund
Fixed Assets
Building Maintenance Plan
Risk Management fund
Environmental Sustainability
355.039
1,660,075
2LK),(X)O
2￿.c￿0
S0,(XYI
1150,7351
1109.7281
128,0921
28.092
176.212
1.578.439
200.000
200,000
50.000
2,465,114
1260.4631
2.204,651
Restrirted lunds
Creative Learning fund
Youth Orchestra Reserve fund
Young Art15t fund
Celebrating Age Wiltshire
78.652
27.077
3,275
69.031
2.612
81,264
27,077
10.300
15,787
7,025
153.2441
178.035
143.6071
134,428
TOTAL FUNDS
2,643,149
1304,0701
2.339,079
31

The Wiltshire Music Centre Trust Limited
TSHIRE
us
Notes to the Financial Statements continued
for the Year Ended 31 March 2023
19.
MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as lollows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
Fixed Assets
636,519
1730.8261
1109,7281
156.4281
1150.735}
1109.7281
636.519
1840,5541
156,4281
1260,4631
Restrirted funds
Creative Learning fund
Young Artist fund
Celebrating Age Wilishire
160,436
7.025
109,316
1157,8241
2.612
7.025
153.244)
1162,5601
276,777
1320.3841
143,6071
TOTAL FUNDS
913,296
11,160,938)
156.4281
1304,0701
Comparatives for movement in funds
Net
movement
in funds
Transfers
between
fund5
At
31.3.22
At 1.4.21
Unrestrirted funds
General fund
Fixed Assets
Building Maintenance Plan
Risk Management fund
Environmental Sustainability
376.249
1.667.254
2CNJ.CKQ
200.LXJO
50.000
105.199
1116,1121
1126.4091
108,933
355.039
1.660.075
200,000
200.000
50.000
2.493,503
110,9131
117,4761
2,465.114
Restricted funds
Creative Learning fund
Youth Orchestra Reserve fund
Young Artist fund
Arts Council Cultural Recovery Fund
Celebrating Age Wiltshire
Warm Welcome Appeal fund
116.043
27.077
3,725
7.319
93,683
5,964
{37,3911
78.652
27,077
3.275
14501
{33,4541
{24.6S21
2,695
26,135
69.031
18,6591
253.811
193,2521
17,476
178,035
TOTAL FUND5
2,747.314
1104.1651
2,643,149
32

The Wiltshire Music Centre Trust Limited
TSNIR
si
ENTR
Notes to the Financial Statements continued
for the Year Ended 31 March 2023
19.
MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are a5 follows..
ncoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestrirted funds
General fund
Fixed Assets
699,671
1621,1971
1116.1121
26,725
105.199
1116,1121
699.671
1737.3091
26.72S
110,9131
Restricted funds
Creative Learning fund
Young Artist fund
Arts Council Cultural Recovery Fund
Celebrating Age Wiltshire
Warm Welcome Appeal fund
92.760
14501
{33.4541
98.933
2,695
1130.1511
137,3911
14501
133,4541
124,6521
2.695
1123.5851
160,484
1253,7361
193,2521
TOTAL FUNDS
860,155
1991,0451
26,725
1104.1651
Unrestricted funds:
General Fund £176 212
The General Fund is the net result of the primary operating fund of the organisation. The general fund
will be used in significant investments in the coming years including building upgrades and a new
website. It will also fund the deficient budget which ha5 been forecast for 22123 and 23124 as the
organis3tion reestablishes its activities after the Covid-19 pandemic.
Designated
Fixed Assets £1578 439
The Fixed Asset funds represents the net book value of the fixed assets held by the Trust, including
the freehold buildin& and $0 are not available for future use as part of general reserve.
Buildin
Maintenance Plan £2￿ (K
The Trust commissioned a report in 2015 from BJP. M and E Consultants. which has informed a 10-
vear maintenance plan for the freehold building. This report recommended a total spend over a 10-
year period of £1S0.000 and this will be continued on a rolling basis. In line with inflationary price
increases and as a continued commitment to ensuring that the Trust's freehold property is maintained
to the highest standard ensuring its longevity and providing the best possible environment for all
sitors to the Centre ihe Trust committed to a 8uilding Maintenance reserve of £200.CI)O.
33

The Wiltshire Music Centre Trust Limited
TSHIRE
USIC
ENTRE
Notes to the Financial Statements- continued
for the Year Ended 31 March 2023
19.
MOVEMENT IN FUNDS- continued
Risk Mana
ement Fund £200 OCK)
A detailed analysis of the required minimum level of reserves is undertaken and this is based on a risk
assessment of the main risks relating to loss of income. The reserves policy requires that the
designated reserves include a risk management fund maintained at a level which will enable the
Trustees to adjust the business model to compensate for potential adverse operating conditions over
3 2-year period to maintain the Trust as an operating arts organi5ation_ This is currently estimated at
£200,000 and it is reassessed annually.
Environmental Sustainabili
The Environmental Sustainability Fund was established in 2020121 to contribute towards an ongoing
Crabon Reduction Programrne, including a 5U5tain3bility study and future works resulting from it. In
line with the board's commitment to this area of work this fund will hopefully art as a catalyst for
further fundraising and development in this area.
Restrirted Funds"
Creative Learnin
Fund £81264
The Creative Learning Fund represents the balance of our Creative Learning projects èt the financial
year end, minu5 those whith are 5pecificalty accounted for below. This includes between 12-15 active
projerts per year.
Youth Orchestra Reserve Fund £27 077
The Youth Orchestra Reserve Fund is a combination of gifted income receNed when Wiltshire Mu51C
Centre took over the leadership of the West of England Youth Orchestra and Wiltshire Youth Jazz
Orchestra from the local authority in Autumn 2015. The fund supports the orchestra's operations and
ensures the provision is financially secured within a given year.
Youn
Artist Funds £10 300
The Young Artist Fund supports our talent development program for young and emerging artists.
providing support through perfom)ances, mentoring and educational leadership opportunities. This
modest restrirted b31ance enables us to commit to the program on an annual rolling basis, ahead of
receipt of fvndraised income.
Arts Counol Cultural Recove
Fund £Nil
Tthe Arts Council Cultural Recovery Fund represents the balance from our Round l application that has
been agreed by Arts Council England to be carried forward to 2021122. The funds have been spent
within the year.
34

The Wiltshire Music Certtre Trust Limited
ENJR
Notes to the Financial Statements - continued
for the Year Ended 31 March 2023
19.
MOVEMENT IN FUNDS- continued
Celebratin
A e Wiltshire £15 787
The Celebrating Age Wiltshire fund is the balance at the financial year end of 3 5-year project started
in 2019. It is a county wide project which delivers culture and heritage events in community settings
to support the health and wellbein8 of isolated and vulnerable older people.
Warm Welcome A
eal Fund £Nil
The Warrn Welcome Appeal Fund represents the balance of an appeal which ran during 2020121 and
2021122 to false funds to replace our retired boiler.: Works were carried out during 2021122 and all
fund5 were spent.
Transfers between funds
As part of the Trustees. ongoing consideration of reserves. a detailed feview has continued through
the year to 31 March 2023 to assess the prÈsentation of funds relating. Transfers of £ reflect the
allocation of assets to desi8n3ted funds and clear utilisation of restricted funds in the year.
20. RELATED PARfi DISCLOSURES
During the year the Charity received grants totalling £38.51612022- £37,656> from Wiltshire Council
of which a trustee was an elected member. The Charity also received rental income of £28.59712022..
£27,450) from St Laurence School of which a trustee is also a govemor of the school.
21.
COMPANY LIMITED BY GUARANTEE
Every member of the company undertakes to tontribute such amounts as may be required Inot
exceeding £1) to the tompany's assets if it should be wound up while he or she is a member.. for
payment of the charity's debts and liabilities contracted before he or she ceases to be a Member- and
of the costs, charges and expenses of winding up and for the adjustment of the rights of the
contributories among themselves.
35