## |Trustees||L Blomstrand|L Blomstrand|L Blomstrand||||| |---|---|---|---|---|---|---|---|---| |||S Polydorou||MBE||||| |||S M Oldfield||||||| |||AMoss|||||(Appointed|28 June 2021)| |||L Richards|||||(Appointed|28 June 2021)| |||JWalters|||||(Appointed|28 June 2021)| |Charity number||1031590||||||| |Company|number|2880224||||||| |Registered|office|Southborough|||Lane|||| |||Bromley||||||| |||Kent||||||| |||BR2 8AA||||||| |Auditor||Baxter &Co||||||| |||Lynwood|House|||||| |||Crofton Road||||||| |||Orpington||||||| |||Kent||||||| |||BR6 8QE||||||| |Bankers||NatWest|Bank||PLC|||| |||143 High|Street|||||| |||Bromley||||||| |||Kent||||||| |||BR1 1YZ||||||| |||Metro Bank||||||| |||One Southampton||||Row||| |||London||||||| |||SW1B5HA||||||| |||Handelsbanken||||||| |||Northside||House||||| |||69Tweedy||Road||||| |||Bromley||||||| |||Kent||||||| |||England||||||| |||BR1 3WA||||||| |Solicitors||Wellers||||||| |||Tension House||||||| |||Tweedy|Road|||||| |||Bromley||||||| |||Kent||||||| |||BR1 3NF||||||| ## |||Page| |---|---|---| |Trustees'
report||1-6| |Statement
ofTrustees'|responsibilities|| |Independent
auditor's|report|6-9| |Statement
offinancial|activities|10| |Balance sheet||| |Statement
ofcash flows||| |Notes to the financial statements||13-24| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---| |||funds|funds||funds|funds|| ||Notes|2022
f.|2022f|2022|2021
E|2021f|2021
E| |Income and endowments|from:||||||| |Donations
and legacies||69,488|11,723|81,211|66,293|8,807|75,100| |Charitable
activities||446,532|82,801|529,333|507,682|426,517|934,199| |Other trading
activities||824,078||824,078|443,098|25,675|468,773| |Investments||547||547|859||859| |Other income||3,179||3,179|412||412| |Total income||1,343,824|94,524|1,438,348|1,018,344|460,999|1,479,343| |Charitable
activities|8|1,396,864|124,017|1,520,881|984,292|479,365|1,463,657| |Net gains/(losses)
on|||||||| |investments|13||(495)|(495)||738|738| |Net (outgoing)/incoming|||||||| |resources before transfers||(53,040)|(29,988)|(83,028)|34,052|(17,628)|16,424| |Gross transfers
between|||||||| |funds||21,534|(21,534)||(3,270)|3,270|| |Net movement
in funds||(31,506)|(51,522)|(83,028)|30,782|(14,358)|16,424| |Fund balances at 1 April 2021||633,474|181,588|815,062|602,692|195,946|798,638| |Fund balances at 31 March|||||||| |2022||601,968|130,066|732,034|633,474|181,588|815,062| ## ||||||2022||2021|| |---|---|---|---|---|---|---|---|---| |||||Notes|||F|| |Fixed assets||||||||| |Tangible assets||||14||97,327||93,639| |Investments||||15||10,161||10,656| |||||||107,488||104,295| |Current assets||||||||| |Debtors|||||53,229||73,944|| |Cash at bank and||in|hand||690,607||733,148|| ||||||743,836||807,092|| |Creditors:|amounts||falling due within|||||| |one year||||17|(119,290)||(96,325)|| |Net current|assets|||||624,546||710,767| |Total assets less||current liabilities||||732,034||815,062| |Income funds||||||||| |Restricted|funds|||18||130,066||181,588| |Unrestricted|funds|||||||| |Designated|funds|||19|259,571||214,993|| |General
unrestricted|||funds||342,397||418,481|| |||||||601,968||633,474| |||||||732,034||815,062| ## ## |||||||2022||2021|| |---|---|---|---|---|---|---|---|---|---| ||||||Notes||||| |Cash flows from operating|||activities||||||| |Cash (absorbed|by)/generated||from||23||||| |operations|||||||(14,740)||57,427| |Investing
activities|||||||||| |Purchase oftangible
fixed assets||||||(28,348)||(16,600)|| |Investment
income received||||||547||859|| |Net cash used|in investing|activities|||||(27,801)||(15,741)| |Net cash used|in financing|activities|||||||| |Net (decrease)/increase
in||cash and||cash|||||| |equivalents|||||||(42,541)||41,686| |Cash and cash|equivalents|at|beginning|ofyear|||733,148||691,462| |Cash and cash|equivalents||at end of|year|||690,607||733,148| ## ## ## ## ## ## |1|Accounting
policies||||||(Continued)|(Continued)| |---|---|---|---|---|---|---|---|---| |1.6|Tangible fixed assets|||||||| ||Tangible
fixed assets are initially
measured
at cost and subsequently
measured
at cost or|||||valuation,
net of||| ||depreciation
and any impairment
losses.|||||||| ||Depreciation
is recognised so as to write offthe cost or valuation||ofassets less their residual|||values over||their| ||useful lives on the following bases:|||||||| ||Musical instruments
10%straight
line|||||||| ||Fixtures,
Fittings 8 Equipment
200/0 straight
line|||||||| ||The gain or loss arising
on the disposal ofan asset is determined||as the difference
between||the sale proceeds|||| ||and the carrying
value ofthe asset, and is recognised
in the statement
offinancial
activities.|||||||| |1.7|Fixed asset investments|||||||| ||Fixed asset
investments
are
initially
measured
at transaction||price
excluding
transaction|||costs, and||are| ||subsequently
measured
at fair value
at each reporting
date.|Changes
in||fair value are|recognised
in|||net| ||income/(expenditure)
for the year. Transaction
costs are expensed||as incurred.|||||| |1.8|Impairment
offixed assets|||||||| ||At each reporting
end date, the Trust reviews the carrying
amounts||ofits tangible assets to determine
whether|||||| ||there is any indication
that those assets have suffered
an impairment
loss.|||If any such indication|||exists,|the| ||recoverable
amount ofthe asset is estimated
in order to determine||the extent|ofthe impairment||loss (ifany).||| |1.9|Cash and cash equivalents|||||||| ||Cash
and cash equivalents
include
cash
in hand,
deposits
held||at call with
banks,
other|||short-term
liquid||| ||investments
with original
maturities
ofthree months
or less, and|bank overdrafts.
Bank overdrafts|||||are shown|| ||within
borrowings
in current
liabilities.|||||||| |1.10|Employee
benefits|||||||| ||The cost of any unused
holiday
entitlement
is recognised
in the|period
in which the employee's
services||||||are| ||received.|||||||| ||Termination
benefits are recognised
immediately
as an expense|when the Trust is demonstrably
committed||||||to| ||terminate
the employment
ofan employee
orto provide termination||benefits.|||||| |1.11|Retirement
benefits|||||||| ||Payments
to defined
contribution
retirement
benefit schemes are|charged as||an expense as they fall due.||||| |2|Critical accounting
estimates
and judgements|||||||| ||In the application
ofthe Trust's accounting
policies, the Trustees|are required||to make judgements,|||estimates|| ||and assumptions
about the carrying
amount
of assets and
liabilities
that are|||not readily apparent|||from other|| ||sources. The estimates
and associated assumptions
are based on||historical experience
and||other||factors that|| ||are considered
to be relevant. Actual results may differ from these||estimates.|||||| ||The estimates
and
underlying
assumptions
are
reviewed
on an
ongoing|||basis.
Revisions||to|accounting|| ||estimates
are recognised
in the period
in which
the estimate
is|revised
where the revision|||affects only that|||| ||period, or in the period of the revision
and future
periods where|the revision||affects both current|||and future|| ||periods.|||||||| ## ## ||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---|---| ||||funds|funds||funds|funds|| ||||2022|2022|2022|2021|2021|2021| ||||E|E||F||F| |Patron's|Fund||13,300||13,300|13,124||13,124| |General|Donations||56,188||56,188|53,169||53,169| |Young Musicians'||Fund||11,723|11,723||8,807|8,807| ||||69,488|11,723|81,211|66,293|8,807|75,100| ## ||||2022
E|2021f| |---|---|---|---|---| |Grant income|||529,333|934,199| |Analysis
by fund||||| |Unrestricted
funds|||446,532|507,682| |Restricted funds|||82,801|426,517| ||||529,333|934,199| |Arts Council
Funding|||446,532|446,231| |Private donations||/ PRISM||10,000| |HRMC Furlough|scheme||1,972|213,517| |TPA Grant|||51,451|51,451| |Cultural
Recovery||Grant (CRG)||213,000| |Other grants|||29,378|| ## ## |||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---| |||funds|funds||funds|funds|| |||2022|2022|2022|2021|2021|2021| |||E|E||E|E|E| |Music Tuition|and related||||||| |income||824,078||824,078|443,098||443,098| |Bromley Youth Chamber|||||||| |Orchestra||||||9,850|9,850| |Bromley Youth Concert|||||||| |Band||||||15,825|15,825| |Other trading|activities|824,078||824,078|443,098|25,675|468,773| |||Unrestricted|Unrestricted| |---|---|---|---| |||funds|funds| |||2022f|2021| |Investment|income|547|859| |Unrestricted|Unrestricted| |---|---| |funds|funds| |2022|2021| |E|E| |3,179|412| ## ## ||||||2022|2021| |---|---|---|---|---|---|---| ||Staff costs||||1,174,795|1,161,478| ||Depreciation|and impairment|||24,660|22,374| ||Governance|costs|||2,602|3,910| ||Other support||||144,991|113,212| ||Operational
activities - Direct||||80,723|88,945| ||Lease costs||||67,435|61,661| ||||||1,495,206|1,451,580| ||Grant funding|ofactivities (see note 9)|||25,675|12,077| ||||||1,520,881|1,463,657| ||Analysis
by|fund||||| ||Unrestricted|funds|||1,396,864|984,292| ||Restricted
funds||||124,017|479,365| ||||||1,520,881|1,463,657| |9|Grants payable|||||| ||||||2022|2021| ||||||E|| ||Grants and Awards
(Young||Musicians|Fund)|25,675|12,077| |10|Auditor's
remuneration|||||| ||Fees payable to the Trust's auditor and associates:||||2022|2021| ||||||F|| ||Audit ofthe Trust's annual||accounts||2,600|2,600| ## ## ||The average
monthly|The average
monthly|number|number|ofemployees|ofemployees|during|the|year was:||| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||2022|2021| |||||||||||Number|Number| ||Teachers and Admin||Staff|||||||54|66| ||Employment
costs|||||||||2022|2021| ||||||||||||F| ||Wages and salaries|||||||||934,987|915,557| ||Social security costs|||||||||84,645|84,520| ||Other pension costs|||||||||155,163|161,401| |||||||||||1,174,795|1,161,478| ||The number ofemployees|||whose annual||remuneration|||was more than F60,000||| ||is as follows:||||||||||| |||||||||||2022|2021| |||||||||||Number|Number| ||f60,001 - 670,000||||||||||| |13|Net gains/(losses)|on investments|||||||||| |||||||||||Restricted|Restricted| |||||||||||funds|funds| |||||||||||2022|2021| |||||||||||F|E| ||Revaluation
ofinvestments|||||||||(495)|738| ## ## |14|Tangible fixed assets|Tangible fixed assets||||| |---|---|---|---|---|---|---| |||||Musical|Fixtures,|Total| |||||instruments|Fittings L|| ||||||Equipment|| ||Cost|||||| ||At 1 April 2021|||560,056|187,280|747,336| ||Additions|||23,253|5,095|28,348| ||At 31 March|2022||583,309|192,375|775,684| ||Depreciation|and impairment||||| ||At 1 April 2021|||484,853|168,844|653,697| ||Depreciation|charged|in the year|14,163|10,497|24,660| ||At 31 March|2022||499,016|179,341|678,357| ||Carrying
amount|||||| ||At 31 March|2022||84,293|13,034|97,327| ||At 31 March|2021||75,203|18,436|93,639| |15|Fixed asset|investments||||| |||||||Listed| |||||||investments| ||Cost or valuation|||||| ||At1 April 2021 8,31 March 2022|||||10,656| ||Impairment|||||| ||At 1 April 2021|||||| ||Revaluation|adjustments||||495| ||At 31 March|2022||||495| ||Carrying
amount|||||| ||At 31 March|2022||||10,161| ||At 31 March|2021||||10,656| ## ## |16|Debtors||||| |---|---|---|---|---|---| ||Amounts
falling due||within one year:|2022f|2021
K| ||Trade debtors|||44,638|40,299| ||Other debtors||||31,377| ||Prepayments|and accrued income||8,591|2,268| |||||53,229|73,944| |17|Creditors: amounts||falling due within one year|2022|2021| ||||||K| ||Taxation, social security and pensions
Accruals and deferred
income|||40,666
78,624|45,352
50,973| |||||119,290|96,325| ||||||||~ CII
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U 0||| ## ## ## ## ## ## |||Balance at
1 April 2020|Resources
expended|Transfers|Balance at
1 April 2021|Transfers|Balance at
31 March 2022| |---|---|---|---|---|---|---|---| ||||E|||E|| ||Instrument
Fund|78,414|(13,556)|10,343|75,201|9,092|84,293| ||Instrument
Replacement
Fund|45,000|||45,000||45,000| ||Maintenance
Fund|10,000|||10,000||10,000| ||Patron's
Fund|84,792|||84,792||84,792| ||Bromley Youth Chamber
Orchestra
Fund|||||23,751|23,751| ||Bromley Youth Concert
Band Fund|||||11,735|11,735| |||218,206|(13,556)|10,343|214,993|44,578|259,571| |20|Analysis of net assets|between funds|||||| |||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |||funds|funds||funds|funds|| |||2022
f|2022
F|2022|2021
f|2021
E|2021
E| ||Fund balances at 31||||||| ||March 2022 are||||||| ||represented
by:
Tangible assets
Investments|97,327|10,161|97,327
10,161|93,639|10,656|93,639
10,656| ||Current assets/(liabilities)|504,641|119,905|624,546|539,835|170,932|710,767| |||601,968|130,066|732,034|633,474|181588|815062| |

non-cancellable
operating
leases, which
fall due as follow|s:|| |---|---|---| ||2022
K|2021f| |Within one year
Between two and five years
In over five years|66,125
261,125
21,666|69,782
269,007
86,666| ||348,916|425,455| ## |22|Related party transactions|||||||||| |---|---|---|---|---|---|---|---|---|---|---| ||There were no disclosable
related||party|transactions||during||the year (2021 - none).||| |23|Cash generated
from operations||||||||2022|2021| ||(Deficit)/surpus
for the year||||||||(83,028)|16,424| ||Adjustments
for:|||||||||| ||Investment
income recognised|in|statement||offinancial||activities||(547)|(859)| ||Fair value gains and losses on|investments|||||||495|(738)| ||Depreciation
and impairment
oftangible|||fixed assets|||||24,660|22,374| ||Movements
in working
capital:|||||||||| ||Decrease
in debtors||||||||20,715|61,186| ||Increase/(decrease)
in creditors||||||||22,965|(40,960)| ||Cash (absorbed
by)/generated|from operations|||||||(14,740)|57,427|