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2025-08-31-accounts

CHARITY REGISTRATION NUMBER 1038515

THE SHEFFIELD MUSIC SCHOOL

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

THE SHEFFIELD MUSIC SCHOOL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees T Sawyer
K Grigsby
S Blakeley
B Cuff
A McCulloch (Appointed 1 September 2025)
E Ford (Appointed 1 September 2025)
P Brooks (Appointed 1 September 2025)
R Wilcox
Chair R Wilcox (Resigned 1 September 2025)
S Blakeley (Appointed 2 September 2025)
Charity number 1038515
Registered office Manor Lodge Primary School
Manor Lane
Sheffield
S2 1UF
Independent examiner M Mealing BSc FCCA
UHY Hacker Young
6 Broadfield Court
Broadfield Way
Sheffield
S8 0XF

THE SHEFFIELD MUSIC SCHOOL

CONTENTS

Page
Trustees' report 1 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 18

THE SHEFFIELD MUSIC SCHOOL

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

The trustees present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The 2024/25 year was one of significant growth and recognition for Sheffield Music School (SMS), now known as TRACKS. A major highlight was a visit from acclaimed musician Ed Sheeran and viral youtuber DJ AG to Sheffield Town Hall, where they helped announce a major three-year funding commitment that will support the charity's future development and sustainability. The year also saw young people from Tracks perform on the main stage at Tramlines Festival alongside an orchestra, providing a unique high-profile performance opportunity and demonstrating the progression of participants' musical skills.

Throughout the year, TRACKS continued to expand its educational offer beyond traditional school settings. We strengthened our work in Education Other Than At School (EOTAS) provision and developed closer partnerships with Alternative Provision (AP) settings, particularly through projects supporting children in care and other vulnerable young people. We also increased the number of collaborative community showcases, enabling participants to perform in a wider range of local settings and build confidence through public performance.

The development of a more advanced performance pathway resulted in the creation of a gigging group for older teenagers. This has provided opportunities for high-level musical performance, leadership, and progression, while inspiring younger participants and demonstrating the long-term impact of our programmes.

Alongside this work, TRACKS began developing a major programme with schools aimed at supporting children experiencing persistent low attendance. Through music-based interventions, mentoring and creative engagement, the project sought to reconnect young people with learning and improve their confidence and wellbeing. The programme strengthened relationships with schools across the city and contributed to closer working partnerships with Sheffield City Council services, enabling a more joined-up approach to supporting young people at risk of disengagement from education.

THE SHEFFIELD MUSIC SCHOOL

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Partnerships and Outreach

We expanded our reach through the Virtual Schools programme, working closely with fostering services and Sheffield City Council Children's Services to provide additional music opportunities for looked-after children. This included funded places at TRACKS, alongside expanded work with the Progression Team to deliver regular AP sessions.

A successful funding bid to the Violence Reduction Unit (VRU) in April 2024 enabled us to launch a new project supporting children in care and care-experienced young people through music-making and creative expression. Sessions were delivered in a variety of settings, including boxing gyms, parks and residential care environments, helping young people develop confidence and share their experiences in a positive and supportive way. The project ended in February 2025.

Additional funding through the Healthy Holidays programme enabled us to continue delivering creative activities during school holidays, ensuring young people could access high-quality musical opportunities outside of term time.

Partnerships and Performances

TRACKS continued to strengthen relationships with key organisations across the city. Our partnership with Sheffield Children's Hospital expanded through enhanced workshop delivery with Artfelt, culminating in a special performance and workshop programme as part of the Tramlines Fringe Festival.

The charity was honoured to receive the Sarah Nulty Power of Music Award at the Sheffield Exposed Awards, recognising the impact of our work within the local community and the contribution of music to improving young people's lives.

A particular highlight was the visit from Ed Sheeran in May 2024 as part of the work of the Ed Sheeran Foundation. The visit generated significant interest in the work of TRACKS, inspired participants, and led to discussions around future strategic support and funding opportunities.

Team Growth and Development

Staff worked increasingly closely with Sheffield City Council and partner organisations to access professional development opportunities and ensure that training standards remain consistent across the team. This has strengthened the quality of provision and enhanced our capacity to support young people with diverse needs.

The team has also benefited from strategic support provided through the Ed Sheeran Foundation, particularly in relation to charity development, governance, sustainability and long-term planning.

THE SHEFFIELD MUSIC SCHOOL

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Financial review

All places at Saturday Morning Music School are now offered free of charge to families, with costs covered through grants, donations and fundraising activity. Only one-to-one instrumental lessons were invoiced to parents, invoiced student income was reduced to £442.

Music provision for looked-after children continues to be funded through Sheffield City Council's Virtual Schools programme and the Music Hub's Children Looked After budget. Additional workshops, including sessions delivered within Pupil Referral Units and Alternative Provision settings, are commissioned directly by schools and partner organisations.

Council funding through the Healthy Holidays Activities and Food (HAF) programme generated income of £5,546. Funding received through Virtual Schools and Children Looked After (CLA) programmes totalled £42,326 for project delivery, alongside a further £1,247 allocated as support packages for individual young people. A total of £44,500 from the Ed Sheeran Foundation was received for provision to be delivered from Jan 2025 to Dec 2026. A grant of £63,000 was received for work commissioned by Sheffield Music Hub to deliver specialist music programme in local schools. Private donations and fundraising activities contributed £8,692.

Restricted grants from trusts and funding bodies are one of the charity’s main funding streams with two major grants in 2024/25 from Public Health England (total grant of £63,000) and a three year grant from the Ed Sheeran Foundation (total for year 1 of £44,500). Continuing the partnership with Manor Lodge Primary School and Red Tape Central (through Music Hub) has kept SMS’ core costs low.

Total income increased substantially compared with the previous financial year. While much of this funding was restricted to specific projects, grant applications were structured to support the wider objectives of the Saturday Morning Music School and provide appropriate contingency funding where possible.

TRACKS is a registered AP with Sheffield City Council. This generated income of £63,816 through contracts with the Council, schools and EOTAS packages. Demand for this provision continues to grow, and income from this area is expected to increase further in future years.

The charity ended the financial year with a healthy current account balance and experienced no cashflow difficulties entering the new financial year. Trustees continue to pursue new funding opportunities and fundraising initiatives to support long-term sustainability and growth.

Reserves policy

The charity's policy is to maintain £3,000 in free reserves to cover outstanding venue hire and essential liabilities in the event of closure. The Business Money Management deposit account is used to hold these reserves. At 31 August 2025, the balance held within this account was £2,025.

Across all accounts, unrestricted funds totalled £16,657. Trustees continue to monitor unrestricted funds carefully and may designate portions of these funds for specific purposes where appropriate. The reserves policy will be reviewed regularly in line with the continued growth and development of the charity.

THE SHEFFIELD MUSIC SCHOOL

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Plans for future periods

In the coming year, two additional members of staff will be transitioned into employed roles to support the expansion of our EOTAS provision. One of these roles will focus on English and Mathematics tuition, enabling young people to build confidence and develop core academic skills alongside their musical learning. This integrated approach will place music at the centre of engagement while supporting broader educational outcomes.

Over the coming year, TRACKS aims to secure a more permanent venue that will provide stability and allow further development of our programmes and community activities.

We also plan to expand our work in continuing professional development (CPD), training and workforce development, sharing our expertise more widely and demonstrating the impact of our approaches.

Building on the success of our current projects, we intend to further develop our work with children in care and begin supporting a broader range of care-experienced young people. We will continue to strengthen partnerships across education, health and community sectors, ensuring that more young people can access high-quality musical opportunities regardless of their circumstances.

Structure, governance and management

The charity is a company limited by guarantee. It is controlled by it's governing document, a deed of trust.

The trustees who served during the year and up to the date of signature of the financial statements were: T Sawyer K Grigsby S Blakeley B Cuff A McCulloch (Appointed 1 September 2025) E Ford (Appointed 1 September 2025) P Brooks (Appointed 1 September 2025) R Wilcox

The day-to-day running of the charity is undertaken by the Director, Lucy Revis, and Tessa Sawyer, who was given the role of General Manager. Tutorship roles are filled on a freelance basis as needed. The majority of paid staff roles within the charity operate on a freelance, self employed basis. From April 2025 the Director and General manager are employed via the charity's PAYE scheme.

Tessa Sawyer oversees the payment process for all freelance staff, including the Director and tutors. Tessa Sawyer also provides freelance administrative and managerial support to the Director. Tessa Sawyer, Rose Wilcox and Kate Grigsby are bank signatories. The bank mandate and signatories list was updated in June 2024.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees meet at least three times a year to agree overall strategy and check all governance matters. The trustees hold an Annual General Meeting which is open to all those associated with Sheffield Music School.

Safeguarding policies were reviewed in August 2024. Risk assessments and safeguarding amendments were undertaken periodically throughout the year to meet the requirements of specific project work.

THE SHEFFIELD MUSIC SCHOOL

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

The trustees' report was approved by the Board of Trustees.

T Sawyer Trustee

26 June 2026

6 Broadfield Court Broadfield Way Sheffield S8 0XF

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SHEFFIELD MUSIC SCHOOL

I report to the trustees on my examination of the financial statements of The Sheffield Music School (the charity) for the year ended 31 August 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

M Mealing BSc FCCA UHY Hacker Young

Chartered Accountants

Dated: 29 June 2026

THE SHEFFIELD MUSIC SCHOOL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Restated Restated Restated
Notes £ £ £ £ £ £
Income from:
Donations and legacies 3 57,468 137,829 195,297 50,596 43,763 94,359
Charitable activities 4 66,696 - 66,696 52,076 - 52,076
Investments 5 13 - 13 58 - 58
Total income 124,177 137,829 262,006 102,730 43,763 146,493
Expenditure on:
Charitable activities 6 118,043 125,035 243,078 98,502 29,841 128,343
Total expenditure 118,043 125,035 243,078 98,502 29,841 128,343
Net income and movement
in funds 6,134 12,794 18,928 4,228 13,922 18,150
Reconciliation of funds:
Fund balances at 1 September
2024 10,523 17,631 28,154 6,295 3,709 10,004
Fund balances at 31 August
2025 16,657 30,425 47,082 10,523 17,631 28,154

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE SHEFFIELD MUSIC SCHOOL

BALANCE SHEET

AS AT 31 AUGUST 2025

2025 2024
as restated
Notes £ £ £ £
Fixed assets
Tangible assets 11 4,056 -
Current assets
Cash at bank and in hand 53,018 29,142
Creditors: amounts falling due within 12
one year (9,992) (988)
Net current assets 43,026 28,154
Total assets less current liabilities 47,082 28,154
The funds of the charity
Restricted income funds 13 30,425 17,631
Unrestricted funds 14 16,657 10,523
47,082 28,154

The financial statements were approved by the trustees on 26 June 2026

T Sawyer Trustee

THE SHEFFIELD MUSIC SCHOOL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

The Sheffield Music School is a company limited by guarantee. The registered office is Manor Lodge Primary School, Manor Lane, Sheffield, S2 1UF.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

THE SHEFFIELD MUSIC SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities 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 asset’s use.

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 off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers

33% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Assets costing less than £500 are not capitalised but are treated as revenue expenditure in the year that the expenditure is incurred. However, the trustees can capitalise items below this limit at their discretion.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its 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 of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 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 of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE SHEFFIELD MUSIC SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 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 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’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.

THE SHEFFIELD MUSIC SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

3 Donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Restated Restated Restated
£ £ £ £ £ £
Donations and gifts 8,692 2,000 10,692 11,018 - 11,018
Grants 48,776 135,829 184,605 39,578 43,763 83,341
57,468 137,829 195,297 50,596 43,763 94,359
Income from charitable activities
Unrestricted Unrestricted
funds funds
2025 2024
Restated
£ £
Student fees and student funding 1,689 26,278
Contracts- Alternative Provision packages 63,816 20,738
Concerts 1,191 5,060
66,696 52,076

4 Income from charitable activities

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 13 58

THE SHEFFIELD MUSIC SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

6 Charitable activities

Total Total
2025 2024
Restated
£ £
Direct costs
Staff costs 24,264 -
Depreciation and amortisation 1,389 -
Rental for premises 9,929 982
Other expenditure 14,469 2,527
Concert and event costs 3,433 2,636
Self employed staff costs 187,444 122,198
240,928 128,343
Share of support and governance costs (see note 7)
Governance 2,150 -
243,078 128,343
Analysis by fund
Unrestricted funds 118,043 98,502
Restricted funds 125,035 29,841
243,078 128,343
7 Support costs allocated to activities
2025 2024
£ £
Governance costs 2,150 -
Analysed between:
Charitable activities 2,150 -

Governance costs includes £650 for the independent examination and £1,500 for accounts. The accounts and independent examination were carried out at no charge in 2024.

THE SHEFFIELD MUSIC SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

8 Trustees

One of the trustees is employed as General Manager. From September 2024 until April 2025 this was on a freelance self employed basis and the charity was charged £8,634 (2024: £7,584). From May 2025 this was on an employed basis run via the charity's PAYE scheme and they were remunerated £6,084 for May 2025 to August 2025.

Costs incurred on behalf of the charity and reimbursed totalled £513 (2024: £525) during the year.

9 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2025 2024
Number Number
2 -
Employment costs 2025 2024
£ £
Wages and salaries 24,264 -
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2025 2024
£ £
Aggregate compensation 60,499 39,283

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE SHEFFIELD MUSIC SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

11 Tangible fixed assets
Computers
£
Cost
Additions 5,445
At 31 August 2025 5,445
Depreciation and impairment
Depreciation charged in the year 1,389
At 31 August 2025 1,389
Carrying amount
At 31 August 2025 4,056
12 Creditors: amounts falling due within one year
2025 2024
Restated
£ £
Other taxation and social security 3,805 -
Other creditors 3,877 -
Accruals and deferred income 2,310 988
9,992 988

THE SHEFFIELD MUSIC SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

13 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 Incoming Resources
At		 31 August
September resources expended 2025
2024
£ £ £ £
Healthy holiday activity and food (HAF) - 5,546 (5,546) -
Youth Music 10,673 1,067 (11,740) -
Violence Reduction Unit 6,958 9,981 (16,939) -
Ed Sherran Foundation - 44,500 (21,754) 22,746
Chol Theatre Project - 2,500 (2,259) 241
Schools project- public health - 63,000 (56,270) 6,730
Spirit of Sheffield - 9,235 (9,042) 193
White Rose - 2,000 (1,485) 515
17,631 137,829 (125,035) 30,425
Previous year: At 1 Incoming Resources
At		 31 August
September resources expended 2024
2023
£ £ £ £
Healthy holiday activity and food (HAF) 3,709 13,499 (17,208) -
Youth Music - 20,283 (9,610) 10,673
Violence Reduction Unit - 9,981 (3,023) 6,958
3,709 43,763 29,841 17,631

THE SHEFFIELD MUSIC SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

13 Restricted funds

(Continued)

HAF funds are received to enable the charity to run holiday clubs for children on Free School Meals.

Youth Music funds are received for the project Lyrical Genius, a music writing resource co-created with children and young people.

Violence Reduction Unit funds are received for a project delivering activities for care-experienced children and young people.

Ed Sheeran Foundation funds were received to support Saturday music school, a weekly youth club and specialist music provision for secondary aged young people at risk of school exclusions or struggling with mainstream education.

Chol Theatre project funds were received to deliver bespoke music sessions.

Schools project funds were received to deliver bespoke sessions in local schools.

Spirit of Sheffield funds received were for various capital expenditure and for building a storage cupboard in the new premises.

White Rose funds received were towards soundproofing the new premises.

14 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 Incoming Resources At 31 August
September resources expended 2025
2024
£ £ £ £
General funds 10,523 124,177 (118,043) 16,657
Previous year: At 1 Incoming Resources At 31 August
September resources expended 2024
2023
£ £ £ £
General funds 6,295 102,730 (98,502) 10,523

THE SHEFFIELD MUSIC SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

15 Analysis of net assets between funds

Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 August 2025:
Tangible assets 4,056 - 4,056
Current assets/(liabilities) 12,601 30,425 43,026
16,657 30,425 47,082
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 August 2024:
Current assets/(liabilities) 10,523 17,631 28,154
10,523 17,631 28,154

16 Related party transactions

Mr S Blakeley, one of the trustees, is a director of Mary Street Studio Ltd trading as Mary Street Live. The Sheffield Music School rents space from Mary Street Live with payments totalling £3,900 made in the year (2024: £nil).