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|Report ofthe Trustees|1to9|
|Report ofthe Independent
Auditors|10to 12|
|Statement of Financial
Activities|13to 14|
|Balance Sheet|15|
|Cash Flow Statement||
|Notes to the Cash Flow Statement|17|
|Notes to the Financial Statements|18to 28|
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total Funds|Total Funds|
|||Notes|Funds|Funds|f|f|
||||f|f|||
|INCOME AND ENDOWMENTS|FROM||||||
|Donations
and Legacies|||66,293|8,807|75,100|62,539|
|Charitable
Activities|||||||
|Grants|||507,682|426,517|934,199|595,756|
|Other Trading Activities|||443,098|25,675|468,773|1,167,840|
|Investment
Income|||859||859|2,069|
|Other Income|||412||412|1,931|
|Total|||1,018,344|460,999|1,479,343|1,830,135|
|EXPENDITURE ON|||||||
|Charitable
Activities|||||||
|Grants 5 Awards||||12,077|12,077|20,139|
|Operational
Activities|||984,292|467,289|1,451,581|1,780,658|
|Total|||984,292|479,366|1,463,658|1,800,797|
|NET INCOME/(EXPENDITURE)|||34,052|(18,367)|15,685|29,338|
|Net Gains/Losses)
on Investments||||738|738|199|
|Transfer Between Funds||18|(3,270)|3,270|||
|Net Movement
in Funds|||30,782|(14,359)|16,423|29,537|
|RECONCILIATION
OF FUNDS||18|||||
|Total Funds Brought Forward|||602,690|195,947|798,637|769,100|
|TOTAL FUNDS CARRIED FORWARD|||633,472|181,588|815,060|798,637|
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||||||2020|
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total Funds|
|||Notes|Funds|Funds|f|
||||f|f||
|INCOME AND ENDOWMENTS|FROM|||||
|Donations
and Legacies|||44,292|18,247|62,539|
|Charitable
Activities||||||
|Grants|||450,729|145,027|595,756|
|Other Trading Activities||3|1,074,353|93,487|1,167,840|
|Investment
Income||4|2,069||2,069|
|Other Income|||1,931||1,931|
|Total|||1,573,374|256,761|1,830,135|
|EXPENDITURE ON||||||
|Charitable
Activities||||||
|Grants &Awards||||20,139|20,139|
|Operational
Activities|||1,635,389|145,269|1,780,658|
|Total|||1,635,389|165,408|1,800,797|
|NET INCOME/(EXPENDITURE)|||(62,015)|91,353|29,338|
|Net Gains/(Losses)
on Investments||||199|199|
|Transfer Between Funds||18|P,011)|7,011||
|Net Movement
in Funds|||(69,026)|98,563|29,537|
|RECONCILIATION
OF FUNDS||||||
|Total Funds Brought Forward|||671,716|97,384|769,100|
|TOTAL FUNDS CARRIED FORWARD|||602,690|195,947|798,637|
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||Notes|2021|2020|
|---|---|---|---|
|||f|f|
|FIXEDASSETS||||
|Tangible Assets|12|93,637|99,413|
|Investments|13|10,656|9,918|
|||104,293|109,331|
|CURRENT ASSETS||||
|Debtors|14|73,945|135,130|
|Cash at Bank and in Hand||733,147|691,461|
|||807,092|826,591|
|CREDITORS||||
|Amounts
Falling Due Within One Year|15|(96,325)|(137,285)|
|NET CURRENT ASSETS||710,767|689,306|
|TOTAL ASSETS LESSCURRENT LIABILITIES||815,060|798,637|
|FUNDS|18|||
|Unrestricted
Funds||633,472|602,690|
|Restricted
Funds||181,588|195,947|
|TOTAL FUNDS||815,060|798,637|
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||||f|f|
|Cash Flows from Operating
Activities:|||||||
|Cash Generated
from Operations|||||57,546|6,548|
|Net Cash Provided
by (used in) Operating|||Activities||57,546|6,548|
|Cash Flows from Investing Activities:|||||||
|Purchase ofTangible
Fixed Assets|||||(16,598)|(14,802)|
|Purchase of Fixed Asset Investments|||||||
|Sale of Investments|||||||
|Revaluation
of Fixed Asset Investments|||||738|199|
|Net Cash provided
by (used in) Investing||Activities|||(15,860)|(14,603)|
|Change
in cash and cash equivalents|in the reporting|||period|41,686|(8,054)|
|Cash and cash equivalents
at the beginning|||ofthe reporting||691,461|699,515|
|period|||||||
||||||733,147|691,461|
##
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|||||2021|2020|
|---|---|---|---|---|---|
|||||f|f|
|Net income/(expenditure)
for the reporting|||period (as per the|15,685|29,338|
|Statement offinancial activities)||||||
|Adjustments
for:||||||
|Depreciation
Charges||||22,374|29,919|
|(Gains)/Losses
on|Investments|||(738)|(199)|
|Decrease/(increase)|in Debtors|||61,185|(18,551)|
|(Decrease)/increase|in Creditors|||(40,960)|(33,959)|
|Net cash provided|by (used in) operating|activities||57,546|6,548|
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|Fo|rthe Year Ended 31March 2021|||
|---|---|---|---|
|||2021|2020|
|||f|f|
|2.|DONATIONS
AND LEGACIES|||
||General Donations|53,169|31,678|
||Patrons'
Fund|13,124|12,614|
||Young Musicians'
Fund|8,807|18,247|
|||75,100|62,539|
|3.|OTHER TRADING ACTIVITIES|||
||Music Tuition and related income|443,098|1,074,353|
||Bromley Youth Chamber Orchestra|9,850|39,807|
||Bromley Youth Concert Band|15,825|53,680|
|||468,773|1,167,840|
|4.|INVESTMENT INCOME|||
|.|Investment
Income|859|2,069|
|5.|INCOME FROM CHARITABLE ACTIVITIES-GRANTS|||
||Arts Mark Award||5,567|
||Arts Council funding|446,231|445,162|
||Cultural
Recovery Grant (CRG)|213,000||
||London Music Fund Grant||8,429|
||Private Donation / PRISM|10,000|99,998|
||Jack Petchey Foundation||750|
||HMRC Furlough
Scheme|213,517|5,837|
||TPA Grant|51,451|30,013|
|||934,199|595,756|
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|6.|CHARITABLE ACTIVITES COSTS|CHARITABLE ACTIVITES COSTS|CHARITABLE ACTIVITES COSTS||Grant|||
|---|---|---|---|---|---|---|---|
||||||Funding of|Support||
|||||Direct Costs|Activities|Costs|Total|
||||||(see note 7)
f|(Seenote 8)
f|2021
f|
||Wages &Salaries|||968,601||192,878|1,161,479|
||Operational|Activities||167,985||122,117|290,102|
||Grants &Awards||||12,077||12,077|
|||||1,136,586|12,077|314,995|1,463,658|
|7.|GRANTS PAYABLE|||||2021|2020|
|||||||f|f|
||Grants and|Awards|(Young Musicians|||||
||Fund)|||||12,077|20,139|
|8.|SUPPORT COSTS|||||||
|||||Management||Governance|Total|
|||||Staff Costs|Other|Costs|2021|
|||||f|f|f||
|||||192,878|118,207|3,910|314,995|
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|Fo|rthe Year Ended 31|March 2021|||
|---|---|---|---|---|
||||2021|2020|
||||E|E|
|9.|NET INCOME/(EXPENDITURE)||||
||Net income/(expenditure)|is stated after charging/(crediting):|||
||Auditors'
remuneration||2,600|2,410|
||Depreciation —owned assets||22,374|29,919|
||Lease costs||61,662|40,817|
##
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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||E|E|
|11.STAFF COSTS|||||||||
|Wages and Salaries|||||||915,558|1,109,814|
|Social Security Costs|||||||84,520|92,781|
|Other Pension Costs|||||||161,401|163,670|
||||||||1,161,479|1,366,265|
|During the closure due to the||Covid pandemic the trust was able||||to access|||
|the government
furlough
scheme to support
f213,517was received which
is included
in||||the payment ofsalaries.
income (note 5)|||||
|The average
monthly
number||ofemployees||during the year was||as follows:|||
||||||||2021|2020|
|Teachers and Admin Staff|||||||66|58|
|The number ofemployees
whose employee||||benefits|(excluding|employer|||
|Pension costs) exceeded|f60,000was:||||||||
||||||||2021|2020|
|E60,001-f70,000|||||||||
|||||Page|22||||
##
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|||Musical|Fixtures,||
|---|---|---|---|---|
|12.TANGIBLE FIXEDASSETS||Instruments
f|Fittings &
Equipment|Totals
f|
||||f||
|COST|||||
|At 1April 2020||549,712|181,025|730,737|
|Additions||10,343|6,255|16,598|
|Disposals|||||
|At 31March 2021||560,055|187,280|747,335|
|DEPRECIATION|||||
|At 1April 2020||471,298|160,026|631,324|
|Charge for Year||13,556|8,818|22,374|
|Eliminated
on disposal|||||
|||484,854|168,844|653,698|
|At 31March 2021|||||
|NET BOOK VALUE|||||
|At 31March 2021||75,201|18,436|93,637|
|At 31March 2020||78,414|20,999|99,413|
|13.FIXEDASSET INVESTMENTS||||Listed|
|||||Investments|
|||||f|
|MARKET VALUE|||||
|At 1April 2020||||9,918|
|Additions||||738|
|Disposals|||||
|||||10,656|
|REVALUATION
ADJUSTMENTS|||||
|NET BOOK VALUE|||||
|At 31March 2021||||10,656|
|At 31March 2020||||9,918|
|There were no investment|assets outside the UK.||||
|The cost ofthe investments|wasf8,067.||||
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|||2021|2020|
|---|---|---|---|
|||E|f|
|Trade Debtors||40,300|85,543|
|Grant Debtors||31,377|30,013|
|Prepayments||2,268|19,574|
|||73,945|135,130|
|CREDITORS: AMOUNTS|FALLING DUE WITHIN ONE YEAR|||
|||2021|2020|
|||f|E|
|Social Security, Pensions|and Taxes|45,352|51,693|
|Other Creditors||509|4,197|
|Accrued Expenses||43,802|53,970|
|Deferred Income||6,662|27,425|
|||96,325|137,285|
##
|The total of|future|minimum|minimum|lease payments|under non-|||
|---|---|---|---|---|---|---|---|
|cancellable|operating||leases|are as follows:||||
|||||||2021|2020|
|||||||f|E|
|Within one|year|||||69,782|61,662|
|Within two|to five|years||||269,007|273,789|
|After five years||||||86,666|151,666|
|||||||425,455|487,117|
##
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|||Unrestricted|Restricted|2021|2020|
|---|---|---|---|---|---|
|||Funds
f|Fundsf|Total Funds
f|Total Funds
f|
|Fixed Assets||93,637||93,637|99,413|
|Investments|||10,656|10,656|9,918|
|Current|Assets|629,498|177,594|807,092|826,591|
|Current|Liabilities|(89,663)|(6,662)|(96,325)|(137,285)|
|||633,472|181,588|815,060|798,637|
##
|||Unrestricted|Restricted|2020|2019|
|---|---|---|---|---|---|
|||Funds|Funds|Total Funds|Total Funds|
|||f|f|f|f|
|Fixed Assets||99,413||99,413|114,530|
|Investments|||9,918|9,918|9,720|
|Current|Assets|611,919|214,672|826,591|816,094|
|Current|Liabilities|(108,642)|(28,643)|(137,285)|(171,244)|
|||602,690|195,947|798,637|769,100|
##
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|18. MOYEMENT
IN FUNDS|18. MOYEMENT
IN FUNDS|-Current|Yeor||||Gains,||
|---|---|---|---|---|---|---|---|---|
|||||As at|Incoming||Losses &|As at|
|||||1.4.20|Reserves||Transfers|31.3.21|
||||||f||f|f|
|Unrestricted
Funds|||||||||
|General
Fund||||384,484|1,018,344|(970,736)|(13,613)|418,479|
|Instrument
Fund||||78,414||(13,556)|10,343|75,201|
|Instrument
Replacement||Fund||45,000||||45,000|
|Maintenance
Fund||||10,000||||10,000|
|Patrons'
Fund||||84,792||||84,792|
|||||602,690|1,018,344|(984,292)|(3,270)|633,472|
|Restricted
Funds|||||||||
|Beryl Hartley
Memorial|Fund|||21,691|||738|22,429|
|Music Therapy
Fund||||5,836||||5,836|
|Disadvantaged
Young Fund||||810||||810|
|Bromley Youth Music Trust Network|||Fund|18,523||||18,523|
|Bromley Youth Chamber||Orchestra|Fund|31,876|9,850|(15,475)||26,251|
|Bromley Youth Concert||Band Fund||15,460|15,825|(19,550)||11,735|
|Young Musicians'
Fund|||||8,807|(12,077)|3,270||
|Jack Petchey Foundation||||1,973||||1,973|
|Government
Grants|||||213,517|(213,517)|||
|Cultural
Recovery Grant|||||213,000|(213,000)|||
|Private Donation||||99,998||(5,747)||94,251|
|||||195,947|460,999|(479,366)|4,008|181,588|
|TOTAL FUNDS||||79&,637|1,479,343|(1,463,658)|738|815,060|
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|MOVEMENT
IN FUNDS -Prior|MOVEMENT
IN FUNDS -Prior||||Gains,|Gains,||
|---|---|---|---|---|---|---|---|
|Year||As at|Incoming|Resources|Losses &||As at|
|||1.4.19
f|Reserves
f|Expended
f|Transfers
f||31.3.20
f|
|Unrestricted
Funds||||||||
|General
Fund||457,690|1,560,760|(1,616,091)|(17,875)||384,484|
|Instrument
Fund||86,848||(19,298)|10,864||78,414|
|Instrument
Replacement|Fund|45,000|||||45,000|
|Maintenance
Fund||10,000|||||10,000|
|Patrons'
Fund||72,178|12,614||||84,792|
|||671,716|1,573,374|(1,635,389)|(7,011)||602,690|
|Restricted
Funds||||||||
|Beryl Hartley Memorial|Fund|21,492||||199|21,691|
|Music Therapy
Fund||5,836|||||5,836|
|Disadvantaged
Young Fund||810|||||810|
|Bromley Youth Music Trust. Network||||||||
|Fund (previously
known|as J Lait)|18,523|||||18,523|
|Bromley Youth Chamber|Orchestra|||||||
|Fund||31,802|39,807|(39,733)|||31,876|
|Bromley Youth Concert|Band Fund|16,557|53,680|(54,997)|||15,460|
|Young Musicians'
Fund||382|18,247|(20,138)|1,509|||
|Jack Petchey Foundation||1,982|750|(759)|||1,973|
|Government
Grants|||35,850|(35,850)||||
|Private Donation|||99,998||||99,998|
|London Music Fund|||8,429|(13,931)|5,502|||
|||97,384|256,761|(165,408)|7,210||195,947|
|TOTAL FUNDS||769,100|1,830,135|(1,800,797)||199|798,637|
|||Page 27||||||
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