Charity registrallon number 1031690
Company regislra1ion nunkn 2880224 (England and Wales)
BROMLEYYOUTH MUSIC TRUST
(LIMITED BY GUARANTEE)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

BROMLEYYOUTH MUSIC TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
L Blomstrand
S Polyth)rou MBE
S M (Xdfield
A Moss
L RId￿rdS
J Watte
M Rldout
J Wllliams-ward
(Appointed 26 February 2024)
(Appointed 15 March 2024)
1031590
Compony nwnber
southbor￿gh Lane
Bromley
Kent
BR2 8AA
Baxter & Co
Lynwood Hou8e
Crofton Road
Otphwn
Kent
BR6 8QE
NatWe8t Bank PLC
143 High Street
8romley
Kerrt
BR11YZ
Metro Bank
One Southampton Row
London
WC1B SHA
HarKlel8banken
Nothside HouBe
69 Tweedy Road
Bromley
Kent
England
BR13WA
Solicitws
Wellers
Tension House
Tweedy Road
Bromky
Kent
BR13NF

BROMLEYYOUTH MUSIC TRUST
CONTENTS
TfUStees' report
Statement of Tntstee8' resp￿81)￿1eS
Independent audltorf8 report
10-11
statement of finandal ath￿e8
12-13
Balance sheet
14
statement of cash fk
15
Note8 to the financlal Statements
16-28

BROMLEYYOUTH MUSIC TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees, who are also directors of Bromley Youth Music Trust ("BYTrKf) for ts purposes of the Companies Act
2006. present thelr annual report and finandal statements for the year ended 31 March 2024.
The financial statements have been prepared in accordan￿ with the accnunting w)IicAes set out in note 1 to the
financial statements and cL)mply the Companies knt 2006 and 'Accounting and Reporting by Charities:
statement of Recommended Practice applicable to charities preparing their accounts in accordance ￿1th
Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102)" (effectlve 1 January 2019).
Established in 1993. 8YThKr Is an Independent music seTvice, known nationally for providing a hlgh qualty
instNmentsl and vocal music education to children and young people in the London Borough of Bromley and
Surrounding areas. Music Centres cater for all ages and experien(x, induding adults. We provide a range of
ensembles and g￿ups. irKlu(fing orthestras, bands, choirs, musical theatre, chamber music, keyboard dasses and
8e55ions for infants. We also provide holiday course5, workshops and masterdasses as well as annual cA)rKert
t(wrs for our most advanced musicaans. The Tntstees have paid due regard to guidance Issued by the Charity
C(mvntS8ion in d￿adIng what aclivitle8 BYNrr should undertake.
BYMT is a company Ilmlted by guarantee with Charitable Statu8. The company wa8 Incorporated on
14 Oecemt￿r 1993. The chaiitable Gornpanls Menx)randum and Artides of Association are the primary governing
documents of the Tn￿t. Details of the trusteeB vtho were serving as at 31 March 2024 are induded in the Referen
and Adminlslralive Details section.
Membor5 Liability
Each member of the chatitable company undertakes to contribute to the assets of the charitable company in the
event of it being wound up while they are a member. or within one year after they cease to be a mernber. such
amunt as fflay be required, not exceedlng £1, for the debts and liabililie8 contracted l￿fvre they C￿Bed to be
member.

BROMLEYYOUTH MUSIC TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
OURVISION AND STRATEGIC AIMS
8YMT vision statement:
All children, young people and the wider commurmty benefft from the enrichlng and transformatlve power of musi
r strateglc aims:
1. Support Bromley schools in provldlng outstsnding music education
All Bromley childm receive an outstsnding music educalion at school.
l. Develop muslcal progression pathways
Children and young people ￿ access a tThJ range of ouistarKllng musical pathway8 which meet thelr needs
and Interests.
1. Ensuro that everyone is Included
Children and young people's music Is HEARD:
Ho118tic
Placlng empha815 on pernonal. 80dal mu8lcal outcomes.
Those facing1he biggest baThier8 ￿ceIve the most 8UPPOrt.,
Developed with and Inform￿ by the peaple we do it for,,
Repre8entatre Parudpants and cA)Ileagues rellect our diverse Society.
Diverse
All musicol genreB. style4 Fxactice8 are valued equally,,
1. Nuriuro lih4ong enjoyment of music
All members ofthe communty can engage In oUt8tarKlV￿ musical experiences.
1. Develop w5der community awareness of Bylfr
Everyone in the wider comfflunity knov*3 that BYKf ex18ts. *that we can offer them or their families. and h<N4 to
ac(￿ our offer.
Eqimtable
Authentic
OURACHIEVEMEKrs
A8 Trustees. we are delighted to celebrate thlty yearn of B￿r and to be nomlnated as one of the Mayor of
Bromlels charities for 2024125. It is such a privilege to %*ithess the immense talent of the children and young people
of Bromley. Here are 80me of the highlights of what we've achieved in the past year.
Supporting 8romloy Schools in provi<fing outstandlng musical •ducatlon:
8YNff engaged with 95% of Bromley sch(x)15, providing a range of provision Induding In8truwfintsl and vocal
tuition, vthole cla5sl8th00l singing propcts, and primary (JJ￿icUluM delivery.
Our Instrumental specialist teachers worked in 43 schoo15 providing vthole dass Instfumentsl tultlon for Key
stage 1 and Key Stage 2 children, which represents a 26% in(¥ease on 202￿23.
More than 4.500 students received indivldual Insttumentsl or singing lessons.

BROMLEYYOUTH MUSIC TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Developing musirAI progression pathways:
More than 850 S￿dents participated in Bykff ensembles.
. The 'R(Jundabout Scheme, was Int￿dUCed at two of our centres, providing a pradical introduction to
Instfumentsl music making.
8YMT repeated its Easter and Summer Sounds holiday cowses In 2023. following the success of the previous
year. The ￿Urse is an excrting introduction to instrumental leaming and singing. Almost 300 children engaged
in thls initÈative, many of whom continued their instrufflental leaming at sch(Jol from September 2023.
More than 60 students partidpated in our annual summer musical theatre course, run by a West End dlrector.
professional singing coach, and West End Choreographer. Many of these students weTe subsequeTrtly involved
In productions of Les Misérnbles and Legally 81onde.
. Br<xll￿ Youth Chamber Orchestra and Br(#nley Youth Concert Band Par￿C[Pated in 8 8ucce88ful Intemational
t(wr to the LoiTe Valley, Frnnce.
Many of ouryear 13 leave￿ went on to Study muslc at universltieB or muslc colleges.
Ensuring that everyone is includ￿.
We want everyone in the WKler communty of Bromley to be able to engage and participate with Bywr
regardkn of their needs. income, personal circumstances, age and where they live. An important part of
a¢hievri9 this aim IB our Young Musicians, Bursary (YMB"). During 2023124, we supported 384 students and
farnilles with a YMB (an in¢xewae of 22% on 2022123), including free or discounted lesson fees, and discounted
muslc oroup and instrument hire fees. 70% of the8e students vKre in receipt of pupll premium and 22% had an
annual h(xJsehold inccme of le88 than £25,000.
In December 2023. our Open Orchestra, an inclusive ensemble that works with iwo groups of young adults wllh
speclal needs who live in Bromley. gave their debut p￿forn￿￿Ce a8 part of the Festival of Strings at Langley
Park Centre the Perfomiing Arts.
Our Special Educational Needs fsEN') consultant provided tailored 8UPPOrt and tsaining for 8choob and Byfvfr
staff. In addilion, our SEN Consultant supported students with additional needs to aC£￿S BYKf pr(yJramme8.
Nurturing lifo4ong enjoyment of muslc:
8YMT delivered and pathered with a range of adult ensembles, induding Adult Choir, Bromley Adult Mu8idan8
Orchestra, Adult Ukulele, Piano Adult Beginners, Sing Brcxnleyl and XBY Concert BarKI, wlth
300 adult8 regularfy partldpated in one of our musk groups
In March 2024, X8Y (ex-Bromley YJJth) Concert Band achieved a Platinum Award at the final of the Nalional
Concert Band Festival, adding to its Gold Medal at the W(Mld Music Competition, in 2022. It is a testament to
the continuing success of the Trust and the outstanding dedicalion of the whole BYThKf team, over many year
that XBY has been recognised as one of the best s￿phOn1¢ wind bands on the national and intemational
Develoixng wider community awareness of BYhTr
than 1,200 families, friends and members of the communty attended our annual garden party, in July
2023, whith involved performances by 19 BY￿r groups.
In septernb￿ 2023, BYNff opened its do0￿ for a Try a Musi<xl Instfument Day,. We welcomed 385 famlies,
with children in school Yea￿ 1-8, to By￿r. to try the Instruments. meet the teacher3 and make some noise.
In January 2024, we held an apen rehearsal week This exciting introduction to Bywf groups enabled new
students to experience first-hand the high￿UaIty music-making opportunities on offer at ￿r ￿ntre￿.
We have been worklng hard to enhance our (Sgital marketing strategy, including the development of a new and
more dynamic BYMT website, which went live in J￿Y 2023.

BROMLEYYOUTH MUSIC TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Fundraslng initiatives
Dwing 2023124, our fundraising Initiabves included:
A Blxk-Tie Charity Ball in Wil 2023, vthich raised over £10.000.
. Our annual garden party. in Juty 2023. vthich rdised over £9,000.
. The introduction of GiftAid daims for 80% of eligth ensemble membership fee8.
. Recnjilment of two new tnjstses to help strengthen our business development activltles.
As part of our 30th Anniversary celebra￿OnS, we are building a database of alumnl supporters, to enhance
engagement, harness thelr experts8e and increase the number of patr￿&
We have a pipellne of appllcations to Thjsts and Foundattons to help fund our YouThJ Musicians, Bur8ary
OUR PEOPLE
has a hard-wOTk1￿, dedlcated and experienced team of pemHnent staff, licensed teachets. TTUStees arKI
volunteers. Our 208 teachers and 16 support team engage with families, schools, and partner organisations lo
ensure that children and young people have oppothnities to sing, play, create and perform music in a viide range of
comnwnty setting8 arKI professional concert venueB.
BYNff provide5 professlonal devekynent opportunities via Stsff training days, 8chool neiwork sessions and the
introducfion of a Bromley Continuing Professional DeveloFxnent {'CPD°ynetWOTk event for lIc￿Sed tsachers, Head8
of and Ctrordinator&
Bywf is I￿kY to have the support of volunteers vtho ervJage in a variety of pro bono activities, such as fundraisiry,
stewarding concerts, Nnning the box office, and providing refreshments at concerts and rehea￿als. We are
immensety grateful to our Patrons and Supporters who regularly gNe to BYDKf. Sn addition, we are humbled by the
positive messages and support we continue to receive from BYMT alumni.
CEOIHoad of Service
(kn 31 August 2024, Gerry Sterling left Bymf after five Yea￿ as CEOIHead of SeNice. Gery joined BY￿r in
September of 2019, wth a dear vision and drive to expand our provision across the Borough. However, in March
2020, nomwlity quickly disappeared when the county went into lockdown. Under Gery's leadef5hip, BYMT
5ponded quickly to the 'new normal, by implementing an online teaching and ensemble structure he wothed
tirelessly so that staff, parents and students were given help and guidance during this challenging time. Gery took
thoughtful and courageous decisions, which enabled BYMT to be among the first music services in the UK to fully
resume its comprehensive and high-quality music education programme following the pandeml
Through(xrt his time 88 CEOIHead of SeNlce, Gery brought incredible re81r￿nce, good humour and energy to
deliver Bywfs vision. that all children, young people and the wider ￿MMunity ￿nerrt from the enTtching and
transfomthve pother of music. We are incredlbty grateful to Gerry for leading Byhff through a time of
unPre￿dented challenges in musiG education.
Following Gerrfs resignation, Twstees launched a recruilment campaign with a ￿eW to appointing a new CEOI
Head of Service. Having carefully considered interim aFrangements, Sue Brown (Business Manager) became Acling
CEOIHead of SeNi(x from 1 September2024. Trustees are Immensely grateful to Sue for her exceptional
leadetshlp and unparalleled knowledge of BYf¥Tf du￿n9 this period of transition.
Following a rigorous rectuitment proc&ss, Trustees wete deligltted to appoint lan Rowe as CEOIHead of Servi￿.
lan *ill offi(#ally step into the role of CEOIHead of Se￿1￿ on 1 January 2025.
Financial review
FUNDING
Principal funding sources
Our principal funding continues to come fr(xm the Department for Educalion ('DfE°) via Arts Council England
(°ACE°), which is supplemented by thatges to sch(KJls and parents. grants. thations and sponSo￿h1P5.

BROMLEYYOUTH MUSIC TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Music Education Hub and Arts Council England
BYMT Is the Hub Lead Organisation (°HL(Y) in the Bromley Music Edu(xtion Hub (°BMEH°) which was estsbfished
following publication of the National Plan for Music Educatton in 2011
elm
rtance of music: a national lan for
ic education). BMEH partners worf( together to c￿ate joined-up music education provision, responding to locxl
need and fulfilling the obje¢trves of the hub.
Dwing 2023124, our hub partne￿ we:
Arts Train
. Langley Park School for 8oyJ
. HaThis Kent House Prfmary School
. Claire Tllotson Mu51c Therapy
. Crystal Palace Communlty Trust
London Muslc Fund
The Music Hub (Hub Music Shop)
. Maxwell Mlni Mu8iC
Monkey Mu81c
. Open Up orchestra
. st George's, Beckenham
. All Bromley Sthoo18 end Colleges
We maintsined a go(xl relatMThhip wlh ACE and re￿iVed the full Mu8ic Ed￿tIOn Hub fMEH°) FunrfirvJ, a DIE
grant administered by ACE. (knce again, have been placed in Ihe lowest categw of ri8k by ACE. ￿lch 18
testsment to the quallty and 8u(xess of our 8ervice8.

BROMLEYYOUTH MUSIC TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
South East London Mu51c Hub
In June 2022, the DfE published a new National Plan for Music Education
we
f music to chan
e lives:
national lan for music education . The plan set out the governmenfs priorities until 2030 for music education for
babies, children, and young peo1￿e, and builds on the first National Plan for Music Education, published in
November 2011.
In September 2022, ACE launched a consultation the education, (Yeative and culbjral sectoys to Inforni the Hub
Investment Programm& Signfficantly, ACE also confirn￿d that they would be prescribing the geographical areas to
be covered by each new Music HublHLO. On 10 March 2023, ACE announced their proposed new Music Hub
geographies, which induded a South East London Music Hub (°SELMH'), extending across six local authoiity
areas: Bromley, Bexley, Greenwich, Lambeth, Lewisham and Southwaf
BYKW8 8oard of Trustees agreed to enter Into a Partner8hlp Agreemert vAth music serv1￿ In 8exley, Greenwich.
Lambeth. Lewisham and Southwark to submit a Joint bid to secure funding to lead SELMH from 2024 onwards. A
new company limited by guarantee, SEL Music Education Ltd {company number 15178185) was inc0￿rated on
30 September 2023, to f￿r11 Ihe functlons of HLO foi the new Scxrth East London Hub geographical area.
The ￿1n(xp81 of SEL Muslc Educatlon Ltd are:
. Brom* Youth Music Trust
Bethy Mu* (part of London South East Academies Tnmt)
Lambe1h Music Service (part of Lambeth Council)
Lewitham Music (independent charity)
Royal Greern￿Ch Music Servlce (part of Green￿ch C￿nCl1 )
. Soulhwarf( Music (part of Southwark Council)
On 22 July 2024, SEL Music Educallon Ltd entered into a grant agreement with ACE in respect of funding for the
delivery of music education services in the South East London aTea. SEL Music Education Ltd, in Its capacity 88
HLO for Soulh East London will receive funding from DfEIACE cal¢>Jlated accorrfing to the official fomiula, published
on the ACE Music Hub yoLik, and based on pupl numbe￿ In schools in each borough. and the number of pupils
receiving Free School Meals. SEL Muslc Educalion Ltd will then '￿e￿rarf this funding to the Principal Partnets.
based on the published DfE funding, linked to each local authorty area overseen by individual Principal Partners.
Principal Parthe[5 wil u8e this delegated re-grant to fund aclivity delivered by themselves or other partner
cxganisations. Between September 2024 and A￿aUSt 2025, BYTrKf will re￿1ve a total revenue grant of £447.180,
and a 12pital grant of £146.895, over two yearn.

BROMLEYYOUTH MUSIC TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL susfAINABILrrY AND MANAGEMENT
BYMT alms to ensure that BMEH wdl continue to defiver an excellent musi¢xl offering to chlldren and young people
across the London Bor￿gh of Bromley and surrounding areas, whilst ensuring financial sustainabilty. in the
following wa￿.
. ManaglrvJ a CA)St neutral buty with some contingency to mitigate against unexpected costs, e.g., mediuml
lorwemi staff Illness. unforeseen rises in costs. ReseNes are also in place for rmre substantlal unforeseen
costs (See Reserves Polioj).
. Careful nx)rthring of expendknre and a robust approval pro(￿ for all eX￿￿rture.
. Pknned arml Staged Increases in fee8 and wbsaiplions.
. Increasi￿ Ir￿ffle from fronlline delivery of services, e.g.. by wAng the number of primary arKI secondary
8chool3 we engage ￿1th.
. DevelopltvJ new acllvliles, including Inc￿Sed access for students over the age of 18.
. Creallon of the BromleyAdult Music Educalion Hub.
. A consistent and conllnuing reo¥uitment dth, both for thildren to take up an InstrumenV8irvJing and to Increase
the number of children in BYfvTt groups ￿K1 ensembles.
. Development of income from ￿rt-Of-boToUgh and Irmlependent 8chools.
. Fotyjs on grant applicatsons. Such aB the Headley TN8L
. Considered investment of re8eNe8. e.g.. we have an investment portfofio managed by E180n A8s(Joakn which
is comprtsed of a legacy donalion (Beryl Hartky Memoiial Fund).
BYNrrs Board of TN8tee8 is re8prThible for rabfywig the Tnrfs budget. and the Annual Rewt and FinanLaal
ststement8.
Under BYKfs Reserves PofiGy the Trust Is required to hold a mln5mum of three months, operaling cA>8ts In
unrestricted reserves. Eath financial year. the TnJ8tees revlew the level of r&8erves and consider M+hether any
imiestrnents would be appropriate.
GOVERNANCE
BYNffs Board compri8es elght indivlduals wilh 8 rarvJe of 8k1118 and experfence from across the ￿MMercIal,
financial, charity. education and arts Sect￿5, WtH) give their time arKJ expertise voluntarily to help the Trust achieve
Its aiffo. All Trustees are respDnslble for the 8trategK directlon, develoF*nent and govemance of BYMT.
Trustees also particlpate in ¢)ne or more cf the following comrnlttees:
Finance - Oversees the financial perf￿an￿ and m￿agefflent of BYNff. as Nlell as appro￿lI¥j relevant
FM)licies and procedures.
. Business Development- Oversees Bwfs fundraising and matketing actTrnti￿.
Personnel - Monitors all aspects of human resour￿8. including staff wellbeing and profe&8ional developmenL
along with the safeguarding aspects of staff recruitment and management
. Standards & Compliance - Monitors compfiance and holds By￿rS leadership team to account in area5 such
as safeguarding arKI health & safety. In additlon, the conimittee plays an imFth role in overseeing the qualty
of teaching. indusion and diversity.

BROMLEYYOUTH MUSIC TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The TNstees, who are also the director5 for the purpose of company law. and who seNed duri￿ the year and up to
the date of signabjre of the finanGial statements were:
L Blomstrand
S Potydm MBE
S M Oldfield
A Moss
L Richards
J Watters
M RId￿t
J Wllliawts-ward
(￿ointed 26 February 2024)
(Appointed 15 March 202A)
Recwibnent and app(NntsMnt of twstees
BY￿r has a wocedwe for the appointrnent of new Tru8tees. Candidates are intervie*Ed by members of the Board
of Tntstees and the CEOIHead of Service. Appointments are subsequently agreed at Board level.
Induction and training of new Tn￿te85
Byfvff has a pollcy and wo(%dure8 for the Induction and training of new TN8tees that18 revievRd annually.
None of the Tn￿tee9 has any interest In the company. All of the Tru8tees are member8 of the compary
and guarantee to c(mtribute £1 kn the event of a winding up.
I￿ganIsational 8lructure
BYMT 15 organi8ed s￿h that p0￿cY decislon8 affeclirwJ it8 development are made at Board level. The TruBtee8
involve senior staff members in developing the Trust to meet its Gharitable objectives.
Governing Document
BY￿r 18 controlled ty tt8 governkng documen( memorandum and artlcles of as80clakn, and con8tituie8 a linited
company, Ilmtted by guarantee, as defined by the Companle8 Act 2006.
Audit and Rtsk
Trustees regularfy review. assess and plan for the management of all ri8ks fac￿1 by BYKf via the Finance
C*Jmmittee and Standards & Compliance Committee.
Bymfs finarKial statemerts are audlted annually by Independent auditor5, arKI the examinati(￿ of acc(Junts
includes a cheL* of Byrrfrs Di8dosure arKI Barring servi￿ (°DBS") record&
Auditor
In alxordance ￿1th the cx)mpanrfs arfides, a resdution proposing that Baxter & Co be reappointed as auditor of the
company will be put at a General Meeting.
The Tru5tees' reFut was approved by the Board of Tn￿tee8.
A Moss

BROMLEYYOUTH MUSIC TRUST
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees, are also the directors of Bromley Youth MUS￿ Trust for the puryx)se of company law. are
respOns￿le for preparing the Trustees. Report and the fmancial statements in accordance with applicable law and
Urthd Kingdom Acxounting Standards (United lfjngdom GeneraltyAccepted AccA>unting Practice).
Cunpany Law requlre8 the Trustees to prepare financial statements for each finandal year which give a true and
faw view of the state of affai￿ of the Trust and of the incorning resources and application of resources, Indu(fing the
income and expendI￿re. of the chatitable cA)mpany for that year.
In preparing these financial statements. the Trustees are requlral to:
- Select suitable accAJunting w)li¢ie8 then apply them o)nsistenty,
- ¢)b8eTve the methods arKI wlnclples In the Chariiles SORP;
- make judgements and estimate8 that are reasonable and prudent;
- state whether apptscable UK Accountmg Standards have been followed. subject to any material departure8
di8dowl and explained In the finandal 8tatements; and
- wepare the financial statements on the goi￿ (x>ncem basiB unle88 It Is Inapproprlate to presuff* that the Trust will
C￿tinUe in operafjon.
The Tnffjtee8 are responsfole for keepirvJ adequate ac￿￿n11ThJ re(￿5 that disclose m80nable accuracy at
any time the financial position of the Trust and enable them to ensure that the financial statements comply with the
C￿nPanieS Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for tski
reaso[￿ble steps for the prevention and detection of fraud and other irregularities.
In 80 far a8 the trustees are avmre:
There Is no relevant audit information of whlth the charltable compan￿8 auditOTS are unaware; and
The tn￿ have taken all steps that they ought to have to make them8efves aware of any relevant audit
Information and to establish that the auditors we aware of that inf￿￿￿tiOn.
2 rjEL¢_NSF:K
proved by the Board of Trustees on ......
. and signed on its behalf by.
A Moss
Ctroir of Trustees

BROMLEYYOUTH MUSIC TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF BROMLEY YOUTH MUSIC TRUST
Opinlon
We have audited the financial statements of Bromley Y(xrth b￿SIC Tntst (the Trusf) for the year ended 31 March
2024 which <x)mprise the statement of financial activities, the balance sheet, the statement of cash flows and notes
to the financial statements, indurfing slgnificant accounting policies. The financial reporting framework that has been
applied in their preparation Is applicable law and United lfjngdom Accounting Standards, in¢luding Financial
Reporttng Standard 102 The Financial Reporting Stand8rd applicable in the UK and Republic of Ireland (United
lfjngdom GenerallyAC￿pted Accounting Praclice).
In our oplnion, the finandal statements:
give a tfue and fair view of the state of the charitable compansls affairs a8 at 31 March 2024 and of Its
incotning resources and application of resources, for the year then ended;
have been woperfy prepa￿ in aCCo￿nce ￿1th United lfjngdom Generauy Attepted A￿Ounting I￿1C8.
have been swred In accordance th the requlrements of the Companies Act XX￿.
Basls for oplnion
We conducted our audit In accordance Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those Standards are further de8ulbed In the Audilorfs re8ponsknlitie8 for the auth"t
the finanGial statements section of our reporL We are indeperMJent of the Tfust in aC￿rdance with the ethkal
requirements that are relevant to our audit of the financial statements in the UK, Including the FRC'S Ethlcal
Standard, and we have fulfilled other ethical responsibllilie5 in acc(xdance with these requirements. We believe
that the audit evid￿￿ we have obtained is 8ufficient and appropriate to provide a basis for our opinion.
C￿clUSIonS relating to going cancorn
In auditing the financial statements, we have conduded that the Trustees. use of the gaing concem basi8 of
aw)unting In the preparalion of the financial statements is appr(Jpriate.
Based on the ￿ we have F*rfoTrned, we have not identsfied any material uncertainlles relthg to events or
Condi￿On8 that. in(Svidualty or colledively, may cast significant doubt on the Trusvs abdity to (x)n1iNe as a going
concem for a period of at least twefve months from wthen the financial statements are aulhorised for issue.
r responsibiliiies and the re8ponsibllilie8 of the Trustees wlth respect to going CO￿An are de8cribed In the
relevant 8edlon8 of this rep￿t.
Other information
The other infomiation COM￿1$e8 the infomiallon irKluded In the annual report other than the ￿and81 statements
and our auditors ￿￿xt thereon. The TTUStees we respoiisible for the other inf0tniatl￿ contained within the annual
repotL Our opinion on the financial statements does not cover the other information and do not express any fomi
of assuran￿ condu5ion thereon. Our responsibilty is to read the other infomiation arKI, in doing so, consider
whether the other inf0m￿tiOn is materially in(x)nsistent with the financial statements or our knowledge obtained in
the course of the audit, or otherwise appears to be materially misstated. If we identify such mataial inconsistencies
or apparent material misststements, we are required to determine whether this gve5 rise to a material misstatement
in the financial statements Ihemselves. If, based on the w<xk we have performed, VR condude that there Is
material misstatement of this other informalion, we are ￿qUired to ￿pOrt that fact.
We have rthing to le￿t in this regard.
MatteT5 on which we are required to report by exception
We have nothing to report in respect of the following matter5 in relation to which the Chatitie5 (ACc￿ntS and
Rep¢xis) Regulalions 2008 require us to report to you rf. in our opinion:
the information given in the financial statemerrts is inconsistent in any material respect with the Trustees.
reportr, or
Suff￿lent a(xounting records have not been kept; or
the financial statements ate not in agreement with the accountir¥ records" or
we have not received all the information and explanations we require for our audit.

BROMLEYYOUTH MUSIC TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF BROMLEY YOUTH MUSIC TRUST
Responsibilities of Tn
As explained more fully in the statement of Trustees, responsibilltles, the TTUStees, who are also the directors of the
Trust for the purpose of oampany law, are responslble for the preparation of the financial statements and for being
satisfied that they give a twe and fair view, and for such internal control as the TTUStees determine is necessary to
enable the preparation of financial statements that are free from material misstatement, whether due to fi3ud or
error. In prepanng the financial ststements. the Trustees are responsible for assessing the Tfusvs ability to continue
as a going concem, disdosing, as applicable, matters related to going concem and using the going concem basis of
accounting unless the TTUStees elther Intend to liquidate the charitable company or to cease operations. or have no
realslk alternative but to do 80.
Auditorfs rosponsibilities for the aU￿rt of the financial statements
We have been appointed as auditor under section 144 of the Chaiitles Act 2011 and rep￿ in accordance wlth the
Act and relevant regulations made or havlng effect therewKler.
Cjjr objeckn are to oblaln reasonable a88urance about whether the financial Statern￿ts a8 a are free from
Ma￿la1 mi88tatemen( wtth due to fiaud or error, and to issue an auditorfs report that Indudes our opinion.
R￿)nable assurance is a high level of assurance but Is not a guarantee that an audit u)nducied in accordan
wilh ISAS (UK) will alway8 detect a material misstatefflent when it exists. Misstatements can atlse from fraud OT
eThor and are CA)nsldered material rf, individually or in the aggregate, they could reasonably be expected to Infiuence
Ihe e￿XK￿Ic de(xslon8 of user8 taken on the ba8ls of the8e finandal statements.
The extent to whlch our procedures are capable of detectiig lffegularities, incknfing fraud, is detslled below.
A descripllon of our responsiblltie8 18 available an the Financial Reportlng Council'8 website at" htip8:11
www.frc.org.uklauditor8re8ponsibilrtles. This description forn￿ part of (￿r auditorfs repotL
Thls report Is made solely to the company's members, as a body, In accordance with section 391 of the Companies
Act 2014. Our audit work has been undertaken so that VR might state to the company's members those matters we
are required to state to them In an auditor's report and for no other purpose. To the fullest extent pemiitted by law,
we do not acopt or assume responsibility to anyone other than the company and the company's members as a
body. for our aurfrt worK for thls report, ¢x for the opinions we have formed.
L￿•se Hallsworth FCA18enlor Slatutory Auditor)
for and on behalf of Baxter & Co
6 December 2024
Chartered Accountants
1 Vicarage Lane
E154HF

BROMLEYYOUTH MUSIC TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Current financial year
Unrestrict
funds
Total
funds
2024
2023
Income and endowments from:
DoTrations and legacies
Charitable activitles
Other tr&fing acthithes
Investments
75.201
450,287
945,418
8,942
3.335
24,219
86.689
99,420
536,976
945,418
8,942
3,335
517,136
1,1)46.867
3,178
4.001
Total income
1.483,183
110,908
1.594,091
1,653,520
Expenditure on:
Charitable activitle8
1,543,794
112.853
1.656,647
1,756.706
Tolal expenditurn
1.543,794
112,853
1,656,647
1,756.706
Net galn810088es) on inveBtments
14
{1,072)
(1,072)
Net expenditure and movemont in funds
(61,663)
(1,945)
(63.628)
(102,703)
Reconcilialion of funds:
F￿d balances at 1 April 2023
518.864
110.467
629.331
732.034
Fund balanc05 at 31 March 202A
457.181
108,522
565,703
629,331
The statement of financial aclivitses bndudes all galns and k)s8e8 recffjnised in the Y￿r. All income and expenditiAre
delive from continuing activities.

BROMLEYYOUTH MUSIC TRUST
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Prior financial year
Totsl
fvnds
funds
Income and endowmonts from:
[k￿allarffj arKI legacies
49,397
448.761
1.046.867
3.178
4,lJJ1
32.941
68.375
82.338
517,136
1,046.867
3,178
4,001
c)ther tr￿Ang actsvilles
Investments
Other income
Total
1.551204
101.316
1.653,520
Expenditure on:
1.635.791
120.915
1.756,706
Totsl expand1￿1•
1,635.791
120,915
1,756,706
Net galnsl(losse8) on Investh￿nts
14
483
Net incomo and movoment in funds
(83.1(M)
(19,$99)
(102.703)
Reconcilialion of fund&
Fund balances at 1 April 2022
601.968
130,066
732,034
Fund balances at 31 March 2023
518,864
110.467
629.331

BROMLEYYOUTH MUSIC TRUST
BALANCE SHEEr
ASAT31 MARCH 2024
2024
Fixed assets
Twgible assets
Investsnents
16
17
82,201
10.644
9.572
92.845
Current assets
18
150,840
467,202
121,624
Cash at bank and in hand
618,042
688,150
Creditoys: amounts falllng due within
one year
{130,005)
(151.664)
Nat currnnt ass•ts
488,037
Total aBsets1058 cumt Ilabilitles
565,703
629.331
The ofthe Trust
108,522
457.181
110.4ffl
518.864
Un￿tricted fund8
565.703
629,331
The company Is entitled to the exemption from the audlt req￿rement contained in section 477 of the Companies Act
2006, for the year ended 31 March 2024, although an audit has been Ca￿led out under section 144 of the Chafities
Act2011.
The (firectors acknowledge thelr responsibilities for complying with the requirernents of the cOr￿nieS Art 20(
with respect to acC￿l￿ting recards and the Fwaralion of financid statements.
These financial statements have been wepared in accordance with the provision5 appllcable to companle8 subject
to the small companies regiffle.
The financial statements were approved by the Ttustees on ..
I bFcf_-VI6EQ 102f
Chalr of Trustees
Company regislration number 2880224 (EnglarKI and Wales)

BROMLEYYOUTH MUSIC TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
Cash absorbed by operations
(101072)
(120.872)
Purthase of tangble f￿ed assets
Investrnent Income received
(6.194)
8,942
(6.387)
3.178
Not cash generated Imn￿{￿sed in)
2,748
(3,209)
cash used In Ilnancing aclivi
N•t decreaso In cash and cash equlvalents
(99.324)
(124,081)
Cash and cash eqthlents at beginnlng of ye
586.526
690,607
Cash and cash equivalents at •nd of year
566,526

BROMLEYYOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Ac￿ntIng policies
Charlty inforniatlon
Bromley Youth Music Trust Is a private ccmpany limited by guarantee incorporated in England and Wale8. The
registered Offi￿ is Southb(xough Lane, Bromley, Kent, BR2 8A
1.1 Accounting convenlion
The financial statemen15 have been prepared in accordanc* with the Companies Act 2006, FRS 102 Yhe
Financial ReportiTVJ Standard applicable in the UK and Republic of Ireland" fFRS 102) and the Charitles
SORP "A￿unlIng and Reportlng by Chatiiies". Statement of Recommended practi￿ appficable to tharfties
preparing their acKA)unts in accordance ￿ryth the Finandal Rewting Standard applicable in the UK and
Republic of Ireland {FRS 102)" (effective 1 January 2019). The Trust 18 a Public Benefit Entity as defined by
FRS 102.
The flnancial statements are prepared In sterfing, ￿￿ch is the functlonal currency of the Trust Monetary
amounts in these financial slatements are rounded to the nearest £.
The financial statements have been prepared under the hi8tarfcal cost ojnventlon. The prlnclpal accounliry
polide8 adopted are 8et out bebw.
12 Qoing concern
At the time of approving the finandal 8tatements, the Tn￿ have a reasonable expectation that Trust
has adequate resources to continue in operational existen￿ for the foreseeable fuiure. Thu8 the TrusteeB
CAintinue to adopt the going <x)ncem ba8is of accounting in preparing the financial statements.
13 Charitable funds
Unrestiicted funds are available for u8e at the di8(xelion of the Trt￿tee3 in furtheran￿ of their chatitable
objective8.
Re8trlrted fvnd8 are Subject to 8peth Gondlttons by donorn or grantor8 88 to how they Fnay be u8ed. The
purposes and uses of the restrlcted funds are Set out in the notes to the flnancial statements.
1A Income
Income is recogni5ed when the Tnrnt is legally entided to it after any perf¢)rmance condittons have be￿ met,
the amounts can be measu￿5 reliably, and it is probable that income will be recelved.
Cash donalions are recognised on RceipL Other dor￿lon8 are recognised once the Trust has been notif*d of
the donation, unless perf￿nance conditions require deferral of the amounL Income tax recoverable in relation
to donations received under Gift Aid or deeds of &wenant is reoJgni5ed at the time of the donation.
Legacie8 are recAJgrMsed on receipt or otherwise rf the Ttust has been notified of an impending (fistslbution, the
amount ts knoyffl, and recelpt is expected. W the amount is not known, the legacy is treated as a contingent
1.6 Expenditure
ExperKliture is recognised once there is a legal or constwctive obligalion to transfer economic benefft to a
third party, it Is probable that a transfer of economic benefits will be reqUI￿d in setUemenL and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each athity are made up of the total of direct costs and
shared costs. induding support ￿Sts invofved in undertaking each actsvity. Direct costs attributable to a single
activty are allocated direcuy to that activity. Shared costs which contribute to more than one activty and
support costs which are not attributable to a single actsvity are apportioned between those activitses on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asseys use.

BROMLEYYOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounllng policies
(Continued
1.6 TangilAe fixed assets
Tangble fixed assets are iniiially Tneasured at cost and subsequently mea8ured at cost or valuation. net of
depreciation and any impwtment losse5.
Depreciation is re<xJgnlsed so as to wrfte off the c05t or valualion of assets less their ￿SIdUal values over their
useful lives on the following bases:
Musical Instruments
Fixtures, Flttings & Equipment
10% stralght line
20% straight ￿ne
The gain or loss arising on the di8posd of an asset 18 detaThined as the dIff￿enCe beiween the sale proceeds
and the carrying value of the asse( and is recognised in the stateff*nt of fmancial actsvI￿￿.
1.7 F￿ed asset investments
Fixed asset Investmerrts are Inilially measured at trarwactlon pric8 exduding transaclion costs. and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
Incomel{expenditure) for the year. Transactlon c4Xts are expensed a8 Incurred.
Impairment of fixed assets
At each reporting end date, the Trust reviews the carrying amounts of Its tangible assets to detemiine whether
there Is any indication that th¢)se assets have suffered an impainnent loss. If any such indication exists, the
recoverable amount of the asset Is eslimated in order to detennine the extent of the impainnent loss (rf any).
1J Cash and cash equivalents
Cash and cash equivalents Indude (xsh in harKI, dep081ts held at call with banks. other short-tetm liquld
Investmen15 orfginal maturities of three months or le88, and bank overdrafts. Bank overdrafts are sho*
wlttwn borrowings In current liabilues.
1.10 Employee benefits
The cost of any unused holiday enlillement Is recogni8ed in the period in which the ernploye¥8 8ervice8 are
Temiinali¢)n beneffts are recogni8ed immediately as an expense the TnMt is demonBtrably cunmitted to
tsrminate the employment of an employee or to tKovide tenThnation benefrts.
1.11 Retirement benefits
paY￿Tr￿ to defined c￿ntill*rtK￿ retirement benefft 8chemes are charged as an expense as ttw fall due.
Crilical aGcounting estimatss and judgements
In the appfication of the Trust's a¢￿untITrg polides, the TTUStees are required to make judgements, estimates
and assumptions about the Ca￿ying amount of assets and liabilities that are not readily apparent from other
urces. The estimates and associated assumpti(Jns are based on historical experience and other factors that
are (rnsidered to be relevant Actual results Tnay (￿r[e[ from these estimates.
The eslimates and urKlerfying asSumpti(￿S are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in whlch the estimate 15 revised where the revision affects only that
period. or in the period of the reViS￿n and future petiods *there the revision affects both current and future
peri￿ls.

BROMLEYYOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations and legacies
Total Unrestricted Restricted
fvnds
nds
2023
Total
funds
2024
funds
2024
Donations gifts
19,076
49,931
19.076
49.931
24,219
15,006
34.391
15.1
34.391
32.941
y￿ng Musicians. Fund
D¢Jnated gxKI8 and
24.219
32.941
6,194
6.194
75.201
24.219
99,420
49,397
32,941
Incomo from charitable aGtivitws
Totsl
funds
funds
2024
2024
2023
2023
Chaiilable income
Grant incAJme
450,287
86,689
536.976
448,761
68.375
517,136
PerfOrrna￿￿ related grants anatysis
Charitable Charitable
income
Income
2024
2023
Arts Coundl FurKling
TPA Grant
Other grants
other
450,287
51.451
35.238
448,761
51,451
16,924
536.976
517.136
Incomo from other tradlng activrti
fund5
funds
2023
Music Tuition and rdated in(xxne
945.418
1,046,867

BROMLEYYOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
kncorne froffl investments
Unrestricted Unrestricted
funds
2024
2023
Investment income
8,942
3.178
Other inGom•
UnrestrlGt•d Unrestrlcted
funds
funds
2023
Olhw income
4.001
Expenditurn on charitable activilles
Charitable
Charitsble
expenditure expenditure
2023
Direct costs
Staff r￿sts
Depreciation and impaimient
Operational activities - Direct
1.167,840
20,301
122,322
1,287,833
21.513
76,000
1,310.463
1,385.346
Grant fundlng of aGtivilie8 (8ee note 9)
43.278
Share of support and gowrnanco costs Isee not• 10)
Support
Goveman
274.770
6,580
323.172
4,910
1,656,647
1,756.706
Analysis by fund
Unrestri(led funds
Restrirted funds
1,543,794
112,853
1,635,791
120.915
1,656.647
1,756.706

BROMLEYYOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Grants payablo
Charitable Charitable
expendithre exw￿llure
2024
2023
Grants to Insti￿tsons:
Grants and Awards (Young Musiaan8 Fund, Headley Trust)
54,219
10,615
41.594
1.684
64.834
43,278
10 Support costs allocated to actlvilios
2023
Operatiry lease charge8
81,354
193,416
6,580
,797
232.375
4.910
281,350
328.082
Charitable expen(rrture
281,350
328,082
11 Net movemont in funds
2024
2023
The net movement in funds i& stated atsr tharglrW(creditlng):
Fees payable for the audit of the chaiiils financial 8tateTnents
DepreciatTh of owned tangible fixed a88ets
Operating lease charge8
4,910
21,513
90.797
20.301
81,354
12 Tntstees
None of the Trustees (or any peT50ns connected with them) re(%lved any remuneration or benefits from the
Trust thring the year.
13 Employees
The average monthty number of employees duiing the year wa&
2023
N￿nber
Number
Teachers and Admin Staff
37

BROMLEYYOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13 Employ￿3
(Continued)
Employment costs
2024
Wages and salaries
Sodal security costs
Other pension costs
939,922
75,914
152.004
1.022,274
93.889
171.670
1,167,840
1,287.833
Redundancy and temiinatlon payments totslllng £61.936 were made In the reporting peTlod. TTr￿e were
contractual payments made and are induded wilhin wages and Salaries costs above.
The number of employees ￿￿oSe annual remunern1ion wa8 more than £60,000
Is as fdlows:
Numbor
Nwnbqr
£60,001- £70.000
Remunerallon of key management pevsonnol
The remuneration of key management personnel totalled £85.609 for the year.
14 Galns and10ss05 on investments
Unrestricted Unrnstricted
funds
fvndB
2024
2023
Galn81{IDsses) arlslng on:
Revaluation of Investrnents
(1.072)
15 Taxation
The charity is exempt from taxation on ils activilies because all 115 Income 15 applied for chaiitable putposes.

BROMLEYYOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16 Tanglble fixed assets
Muslc•l
Instruments
Flxtures
Flttlngs a
Equipm•nt
Cost
At 1 ￿ri12023
Additions
587,730
6,194
193,793
781,523
6,194
At 31 March 2024
593.924
193,793
787,717
Dewoclalion and impairment
At 1 fy)rf1 %)23
Deweaabon charged in the year
514,711
16.950
184,611
3,351
699.322
20.301
At 31 March 2024
531.661
187.962
719.623
Carrying amount
At 31 March 2024
62,263
5.831
68.094
At 31 2023
73,019
9,182
82,201
17 Fixed asset investments
Listed
Invostments
Cost or valuation
At 1 April 2023 & 31 ma￿ 2024
10.644
Impairrnent
At 1 April 2023
Revaluation adjustrnents
1,072
At 31 March 2024
1.072
Carrylng amount
At 31 March 2024
At 31 March 2023
10,644
Fixed asset investments revalued
The historic cost of the investrnents was £8.067.

BROMLEY YOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Debtots
Amounts falling due withln one year.
Trade debt(
Prepayments and accnRd Income
53.303
97.537
72,272
49.352
150.840
121,624
19 Credltors: amounts falling due within one year
2024
Other taxation arKI social 8eGurity
t)efeffed irKome
Othw credltor8
Accfual8 and defeffed Income
24,836
59,671
20.347
46,810
37.227
130.005
151.664
20 Defemd income
2024
Other defeThed Income
59,671
Defeffed irK>)me Is irKluded In the flnandal 8tatemerrts a8 follows:
2023
Deferred inc<Jme Is included within:
Current liabillie8
59,671
Movements in the year.
Deferred income at 1 W 2023
Released from previous periods
Resowces deferred in the year
59,671
(59.671)
59,671
Defetred ino)me at 31 March 2024
59.671
21 Reliremont benefft sch*nes
2024
2023
Defined contrilxrtlon schemes
Charge to wofft or b)ss in respect of defined contr1t￿tion sthemes
5,365

BROMLEYYOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
21 Relirefflent benefft schemes
(Conlinued)
The Tnjst operates a defined contribution pension xheme for all qualifying ernployees. The assets of the
Scheme are held separately from those of the Tntst in an independently administered fund.
22 Restricted funds
The restslcted funds of the tharity comprise the Unexp￿ balanc£s of donations and grants held on tru8t
subject to speclfic (xjnditions by donors as to how they may be used.
At1Apr
2023
Incoming Resources At 31 March
expended
2024
Beryl Hartley Memorial Fund
Disadvantaged Young Fund
Bromley Youth Music Trust Netw￿ Fund
scopps
Young Mu51cians' Fund
Jack Petchey Foundalion
Govefflment Grants
Private Donation (Patrons Grant)
London Music Fund
Headley Ttust
22,204
810
5,323
22,204
810
5,323
(7,222)
(24.219)
24,219
1.273
1,273
60,507
(60,507)
(1,945)
(3,960>
(15,000)
80,857
78,912
3,960
15,000
110,467
110,908
(112,853)
108,522
Previous year.
At 1 Aprfl
Incoming
2022 rn90urc05
ResourceB At 31 March
expended
2023
Beryl Haruey Memorial Fund
Mu81c Therapy Fund
Disadvantaged Young Fund
Bromley Youth Mu31c Trust Network Fund
scopps
Young Musicians, Fund
Jack Petthey Foundation
Government Grants
Private Donation (Patrons Grant)
London Music Fund
22,429
1,076
810
18.523
(225)
(1,076)
810
5,323
(13,200)
(7.222)
(32,941)
(700)
(52.595)
(4,398)
(8,558)
7,222
32,941
1.973
1,273
52,595
85,255
8,558
130.066
101,316
(120,915)
110,467

BROMLEYYOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
22 Re5tsictad funds
ICqJntinued)
Restricted Funds:
Beryl Hartley Memorial Fund
The Beryl Hartley Memorial Fund was set up In 2002 from a donation ￿1¢h stipulated it was for investment
purposes only. The dividendslproceeds weie to be used to purtha5e expensive bows for the students.
Music Therapy
Music Therapy is the residue off a MUS￿ therapy fund which has been unused for a couple of year8.
Disadvantaged Young
Disadvantsged Young Fund is the resldue of an dd fund that wll be u8ed again (hoFthilly) In the near ftrture
when a new °Outreach' teacher is secured.
Young Musiciansl Fund
Young Musicians" Fund has been aet up by Bromley Y¢yJth Mu8ic TnJ8t to 8UPPOrt remi8slon of fee8 for
famllie5 with financial hardship.
Jack Petchey Fund
The Jack Petchey Fund Athievement Award Scheme recogni8e8 outstanding young people aged 11-25
throughout London and Essex. It enableB schools and y￿Jth (ynisations to celebrate their young people
and re￿1ve fvnding.
Brornley Youth Music Trust Network
Bromley Youth Music Trust NetWOTk Fund has specifically trRen set up for the purFK)8e of raising funds for
speafic projects that cannot be funded from our normal res￿rCeS.
The folowing funds have been reclassif￿d from r•stricted funds to designated funds:
Bromlry Youth Chamber Orchestra and Bromley Youth Concert Band
Brornley Youth Chamber OrchestR Fund Bromley Youth Concert Band have both been 8et up for the
speclThc purpose of ralslng monles for the annual tour8 for both groups.
23 UnreBtiicted fundB
The un￿StrICted funds of the charlty comwise the unexpended balances of donations and grants whlch are
not subject to specific conditions by and grantors as to how they may be used. These indude
designated funds ￿1¢h have been set aside out of unrestricted funds by the trustee5 for specific purposes.
Gains and At 31 March
losses
2024
At 1 April
Incoming
Resourc•s
expendod
Instmment FurKI
In5twment Replactment Fund
Maintenance Fund
patr￿.5 Fund
Tour
Gen￿al funds
84,518
84,518
10.000
99,798
32,847
246.701
10.000
117,032
27,553
173,078
19,076
37,063
1,427,044
{1.842)
(42.357)
(1,499,595)
(1.072)
518.864
1,483.183
(1,543,794)
(1,072)
457.181

BROMLEYYOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted funds
(Continued)
Prevlous yex:
At 1 Nwil
Incoming Resources Gains and At 31 March
2022 resources expended
losses
Instrument FurKI
Instrument Repla(xnent Fund
Maintenance Fund
Patron's Fund
Tour
General knds
84.293
84,518
45.000
10.000
99,798
32,847
246,701
10,0(X)
84,792
15.006
(32,985)
(1.601806)
342,397
1,506.627
601.968
1,551204 (1,635,791)
518,864
24 Analysis of not assets betwe￿ funds
funds
2024
2024
2024
At 31 March 20X.
Tangible assets
Investment8
CuNent asset8101￿1￿1leB)
9,572
457.181
488.037
457,181
108.522
565,703
Total
funds
At 31 March 2023:
Tangible assets
Investments
Cuttent as8etsl(liabilities)
82.201
10.644
17,622
82.201
10.644
536,486
518,864
518,864
110.467
629.331

BROMLEYYOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Pension and similar ob￿gationS
The trusfs emth5 bek)rvJ to the TeacheTr' Pensi¢in Scheme ErylaTKI and Wales (rps) for related Staff.
test aciuarial valuation of the TPS related to the period &Nled 31 March 2016.
There were ¢JutS￿lng conlribuiions at the end of the finandal year of £17k, thi5 amount is IrKluded thin
Introduction
The Teache￿. Pension Scheme (rps) is a statutory, (x)ntributory. defined benefft stheme, govemed by the
Teachers, Pension Scheme Regulations 2014. Mernbership is automatic for teachers. Al teachers have the
option lo opt (xrt of the TPS following enrolmenL
The TPS is an unfunded scheme to thich both the w£mber and employer makes cth)trlbutions. a8 a
pe￿lage of salary. These contribU￿onS are credited to the Exchequer. Retirement and other pension
benefits are paid by pubk funds provided by Parlament.
Valuallon of the Teachers, Penslon Scheme
The Govemment ActU￿Y. Usffbg norn￿1 actuarial principl4 condud5 a fomial aciuarial review of the TPS in
alxx)￿1a￿ce with the Public Seplice Pensions (Valuations and Employer Cost Cap) Directions 2014 published
by HM Treasury every 4 year5. The aim of the review is to specify the level of fuiure contribulions. Actuarial
8cheme valuations are dependent on assumptions about the value of future costs, design of benefrts and
many other factor5. The latest actuarial valuation of the TPS was carried ¢)ut as at 31 March 2016. The
valualion rep(xt was publlshed by the Department for Education on 5 March 2019.
The key elements of the valuatlon and 8Ubseq￿rt c(msullation are:
employer CA)ntribution rates 8et at 23.68% of pensionable pay (Induding a 0.08% employer
athiinistralion levy)
total scheme liabilities (penslon8 currenty In paYrn￿ and the estimated (x)st of fvthre beneffts) for
Service to the effective date of £218,100 million, and nollonal a&8ets (eslimated future wntributions
together wlth the notional investments held at the valuati(m date) of £196,100 mlllion giving a nottonal
past servke deficit of £22,000 million
the SCAPE rate, Set by HKf. is used to determine the notional investsnent retwn. The current
SCAPE rate is 2.4% above the Ate of CPI. The assumed real rate of retum Is 2.4% in ex¢x8s of
prices and 2% In excess of eamlngs. The rate of real eamlngs growth Is assumed to be 2.2%. The
assumed nominal rate of retum including eamings grnvth is 4.45%.
The r*xt valuation result Is due to be implemented from 1 WI 2024.
Th8 employerfs pension costs paid to th8 TPS in the PeTlod amounted to £146,639.
Ac<)py of the valuatlon report arKI supwllng documentatlcm is on the Teachers. Pwtslons web8ite.
Under the definlticms set out in FRS 102. the TPS Is an unfunded multi*mployer pension scheme. The trust
has accounted for its contiilArtions to the s(*ewe as If it rn a defined Gontrbbution scI￿ne.
The tNst has set out above Ihe infomwtion available on the scheme.

BROMLEYYOUTH MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
26 Operaling lease commilments
At the reportwig end date the Tntst had ouistanthng cA)mmllments for futtwe nmnimum lease payments urKler
r￿n-CanCelIab1e opernting l&qses. vthich fall due as fall(MS:
Wthln one year
Beiwn two and five year8
82.314
171.392
249.655
253.706
332,135
There were no th8doBable related pty tranBaLthrn durwy the year (2023- nonel
28 Cash generat￿ from oporations
Deficit for the year
(63.628)
<102.703)
Adjustrnents for.
InveStr￿nt income recogni8ed in statement of finandal adivilie8
Falr value galns and losses on iweslments
Deweclation and Invalm￿nt of tsngible fred assets
(8.942)
1.072
20.301
(3.178)
(483)
21.513
Movements In WO￿[rO Gapital:
(Increase) in debto
(Decrea8e) in creditors
{Oecrease)fmcrea8e in deferred In￿Me
{29216)
(18,668)
(2.991)
(68.395)
(27.297)
59,671
Cash absorbed by oprations
(102,072)
(120,872)