2023-03-31-accounts - Newham Music Trust

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REGISTERED COMPANY NUMBER: 03118107 (England and Wales) REGISTERED CHARITY NUMBER: 1050105

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2022 TO 31 MARCH 2023

FOR

NEWHAM MUSIC TRUST

Raffingers LLP, Statutory Auditor Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

NEWHAM MUSIC TRUST

CONTENTS OF THE FINANCIAL STATEMENTS for the period 1 August 2022 to 31 March 2023

		Page
Report of the Trustees	1	to	9
Report of the Independent Auditors	10	to	13
Statement of Financial Activities		14
Balance Sheet		15
Cash Flow Statement		16
Notes to the Cash Flow Statement		17
Notes to the Financial Statements	18	to	26
Detailed Statement of Financial Activities	27	to	28

NEWHAM MUSIC TRUST

REPORT OF THE TRUSTEES for the period 1 August 2022 to 31 March 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 August 2022 to 31 March 2023. The trustees have adopted the provisions of 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

Objectives and aims

The objects of the Charity are for the public benefit:

To advance the musical education of all children and young people in Newham;
To enhance the education, life experiences and wellbeing of all children and young people in Newham through music within and beyond their school experience;
To work with partners in promoting a varied range of high quality music, arts and culture opportunities for children and young people;
To provide for the recreation of members of the community by providing music services to them with the object of improving their conditions of life.

By achieving its objectives, Newham Music aims primarily to benefit the community of Newham. Where its activities are outside the Borough of Newham the charity also aims to benefit the communities of London. The trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.

Our vision

Newham Music will create a vibrant and inclusive musical ecosystem where every child and young person has access to high-quality music education and music-making opportunities. We envision a collaborative and supportive network that empowers young musicians, nurtures their talent, and prepares them for a lifelong journey of musical discovery and achievement.

Our mission

To break through barriers and create equal opportunities for our young people to participate in music-making, employing diverse and inclusive teaching practices and implementing initiatives to engage underrepresented groups in our programmes.

Our values

The following values underpin our strategy:

Passion: we believe in the fundamental power of music and the arts to transform lives;

Inclusion: we strive for inclusion and equity for all and recognise that our differences make us stronger;

Innovation: we seize opportunities to challenge boundaries, search for and welcome new ideas, new thinking and fresh approaches in all that we do;

Collaboration: we listen to and work with our people and our partners to ensure we are greater than the sum of our parts;

Integrity: we achieve our aims without compromising our commitment to honesty and integrity throughout our work.

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NEWHAM MUSIC TRUST

REPORT OF THE TRUSTEES for the period 1 August 2022 to 31 March 2023

OBJECTIVES AND ACTIVITIES

Strategic goals

Newham Music has translated its vision into a number of strategic goals. These goals are key outcomes and deliverables for stakeholders and partners. They outline what Newham Music aims to achieve, namely to:

Provide access and inclusion for every child and young person to the world of music making;
Provide relevant, effective and accessible progression routes for children and young people into the world of music and the creative industries;
Establish agreed priorities to engage with children and young people and communities in Newham;
Expand current provision catering for the musical needs of ALL our children and young people;

Volunteers

The charity is grateful for the efforts of its volunteers who are involved in the activities of the charity. They play an important role in enabling the charity to meet its objectives.

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NEWHAM MUSIC TRUST

REPORT OF THE TRUSTEES for the period 1 August 2022 to 31 March 2023

ACHIEVEMENT AND PERFORMANCE Review of the year and plans for the future

Newham Music is committed to providing high quality music education and opportunities for children and young people throughout the borough of Newham. We work closely and creatively with young people, families, communities, youth zones, schools and Newham Council to ensure we deliver inclusive, diverse, accessible, and high quality music provision.

Our drive to improve the artistic and music offer is built on a growth strategy, centred on the children and young people of Newham, ensuring the musical creativity of every child is valued and given the opportunity to flourish. Integral to the growth strategy is our reimagined and redesigned provision focused on pupils' wellbeing, helping everyone continue their music-making and learning, in school, in the community and at home. This is represented in an ambitious Programme of Activity.

Families, teachers and school leaders have reported that the diversification of the musical opportunities offered by Newham Music has meant that more young people feel their musical voice and preferences are valued. Opportunities inspired by working with a broader range of music and musicians has improved access to creative influences and outlets that would not have been possible if limited to expertise in any particular school or community settings.

Key Facts and Figures for 2022-23:

98% of Newham schools supported in the delivery of music
33% of Newham pupils (20,966) received weekly music lessons
22% of Newham pupils (13,700) received individual, small group or large group music lessons
240+ ensembles and choirs
150+ concerts, workshops, teacher training events and initiatives in over 100 schools, youth and community settings - 4,500 musical instruments provided to pupils

Key Partners:

ABRSM, Ambition Aspire Achieve, Arts Award, Arts Council England, Barbican Guildhall, Barking and Dagenham Community Music Service, BBC, Brolly Productions, Charanga, Community Links, DECODA, Drake Music for disabilities, Gateway 2 Music, Girls Rock London, Guildhall School of Music & Drama, Hackney Music Service, Havering Music School, Jack Petchey Foundation, Living Song, London Music Fund, London Royal Docks, London Symphony Orchestra, London Youth, Mayor of London, Music for Youth, MusicTutors.co.uk, National Lottery Heritage Fund, Newham Council, Newham Heritage Month, Newham Youth Empowerment Service, Orchestra of the Age of Enlightenment, Paraorchestra, Portsmouth Music Hub, Redbridge Music Service, Rendezvous Projects, Rosetta Arts, Ruff Sqwad Arts Foundation, Sound Connections, Stratford East, The House Mill, Tower Hamlets Arts and Music Education Service, Waltham Forest Music Service, Westfield Stratford City, Youth Music.

Notable Achievements and Initiatives

National Portfolio Organisation: Newham Music has been added to Arts Council England's National Portfolio of funded organisations for 2023-2026. This is in addition to our status as DfE Music Education Hub for Newham. The NPO funding support will enable us to develop and expand our work, introducing strategically-targeted programmes to help young artists grow, flourish and fulfil their musical and artistic potential. We want to ensure that more people in more places can find fantastic, fulfilling art and culture on their doorstep.

Schools, Families and Community: Newham Music supported schools, families and community groups to deliver high quality music provision to over 21,000 children and young people through 2022-23 across a range of programmes and activities including: 200+ ensembles and choirs; Street-Studio-Success and Young Producers programmes; Learning through Music initiative for Early Years; Music Unlocked for children and young people with special educational needs and disabilities.

Newham Council - School Music Grants: School Music Grants is a ground-breaking programme funded by Newham Council that empowers schools to take ownership of and grow music enrichment opportunities for all children and young people. A robust accountability structure, supported by NM, ensures that schools demonstrate the money is spent well and that it makes a tangible positive difference to the access and quality of music provision in each school. 94 schools received ring-fenced music grants from a £630,000 fund for music enrichment activities.

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NEWHAM MUSIC TRUST

REPORT OF THE TRUSTEES for the period 1 August 2022 to 31 March 2023

Diversity Ambassador and Diversity Advisory Group: creating constructive bridges between the workforce and Hub management; advocate for and support all musician teachers, especially those from underrepresented groups; engage colleagues with discussions around EDI; support a caring and inclusive organisation including with regards to mental health and welfare; change perceptions about the sector; create EDI-focused networks.

A Singing Borough: Stefania massed singing and instrumental ensemble project involving 30 schools across the borough. A viral video was produced with over 40,000 views to date. BBC Singers at Senior Voices Day. Senior Voices Festival 2023, Brolly Productions Stopping Place, Senior Repz Choir launched, Senior Choir Eurovision project, Newham Songbook Project, Artists in Residence, Music Tech Vocal Project.

Whole Class Ensemble teaching (WCET) and Instrumental for 21,000 children and young people: Over 21,000 pupils in First Access and instrumental programmes across all schools on a range of instruments including: Veena, Djembe, Dhol, Melodica, Ukulele, Flute, Recorder, Clarinet, Saxophone, Violin, Viola, Cello, Double Bass, Guitar, Piano, Drumkit, Percussion, Trumpet, Trombone, French Horn, Euphonium.

Ensembles: 200+ ensembles in-school and at NM Academy across a range of instruments and genres - Carnatic Groove, Choirs, Bands, Jazz, Rock and Pop, South Asian, Steel Pan, Samba, Djembe.

Newham Music in the Community: Newham Music Carnatic Groove; Newham Unlocked Festival; Newham Heritage Month; Black History Month.

Young Londoners - Street-Studio-Success: mobile digital music programme providing access to music, skills development, mentoring & pathways into employability into wider creative industries for underrepresented children and young people disengaged through COVID including those at-risk of involvement in substance abuse, gang culture and other challenging circumstances.

Music Unlocked: a comprehensive support programme and inclusive ensembles for children and young people with special educational needs and disabilities (SEND). Includes Jam Band for young adults (16-25) with SEND/PMLD; Music Unlocked Club for young people 12-16 with SEND; Music Unlocked Orchestra autumn tasters and relaunch in January 2022 as a part of the Newham Music Academy. School projects supporting Whole Class Inclusive Music Tech and ensembles with Orchestra of the Age of Enlightenment and Orchestras for All.

Black History Project: young musicians, exploring the intersection of jazz and modern-day grime, rap and hip hop through beat-making and music production.

Learning through Music: for very young children (0-7 yrs) to re-engage with their learning, coming together through music. Schools, community and teacher training focus.

Youth Zones: Newham Music is delivering in all of the youth zones throughout the borough, as well as alongside the detached youth team, providing regular sessions and one-off projects.

Think 22: Alliance for a Musically Inclusive England: Newham Music is a key partner of the Think 22 strategic programme with Drake Music for Disabilities, a collective of leading music organisations working together to promote diversity and cultural democracy in music education.

Youth Ensemble Scheme YES! - a partnership initiative led by Newham Music working with Orchestras for All, Royal Academy of Music and Orchestra of the Age of Enlightenment. YES! established a workable and sustainable model for inclusion ensembles, accessible to all young people. Yes! kick-started inclusion ensembles in six hard-to-reach schools - two secondary and four primary - with a finale performance celebrating the 10th Anniversary of the London Olympic Games.

Young Producers: programme focused on building more diverse and inclusive workforce delivered alongside active learning projects that supports Children in Challenging Circumstances.

Nexus Newham Music Educators Network: brings music coordinators, singing teachers, community musicians and classroom teachers together to make music, network and share singing best practice, empowering a confident singing community across the borough.

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NEWHAM MUSIC TRUST

REPORT OF THE TRUSTEES for the period 1 August 2022 to 31 March 2023

One Musical Thing: a video series of practical tips and activities to support non-specialist teachers to become outstanding music educators.

East London Music Alliance: Newham Music, with seven Music Education Hubs from East London, collaborated on a Music Inclusion strategy setting the foundations to build an inclusive music education culture. A key step in 2022-23 was the appointment of a Strategic Lead, funded by the ELMA alliance.

East London Cultural Education Alliance: Newham Music continued to play a significant role working with partners from across East London to ensure that the existing provision, learning and support for cultural education is available to all young people and delivered in the most effective way.

East London Arts Fundraisers Network: co-founded by Newham Music and East London Dance, now has over 20 cross-arts organisations working together sharing good practice in optimising additional funding.

Newham Cultural Education Partnership: Newham Music is a founding partner in the Newham Cultural Education Partnership. NCEP is purposed to encourage Partners to shape their community approach, delivering joined-up, consistent and bespoke programmes of music and arts events and opportunities for children and young people.

Artsmark and Arts Award: Newham Music supports Artsmark in schools with 28 Newham schools already accredited Artsmark, recognising the creative development of individual young people. Arts Award is encouraged and embedded in NM practice with subsidised fees for students taking Arts Award through our Schools and Academy programme.

Equity, Diversity and Inclusion

The Newham Music EDI strategy is setting strong foundations in building an inclusive music education culture where all children and young people are valued and recognised for their unique qualities, ideas, voices and perspectives and where they are provided with a range of diverse and suitable musical opportunities and progression pathways.

Seeing a 'future possible self' is important for our young people and underpins the NM approach. The following are some examples where the NM offer has diversified, raised aspirations and awareness of possibilities for future study and careers in music and the creative industries:

Inclusion Lead Officer post to promote diversity in music and practice across all organisational areas and to diversify workforce expertise in wider musical genres including grime, rap, house music etc.
NM Internships Programme providing employment for young people. 4 posts ranging from 3 months to 1 year placements, paid the London Living Wage.
Think 22 programme with Drake Music: leadership development for young musicians with disabilities
Resources audit and teacher training in partnership with Education4Change to ensure all schools provide high-quality, practical opportunities to explore diversity and racial issues in a meaningful way.
Music Unlocked fully-inclusive Orchestra based at SEND Community Hub.
Street-Studio-Success music sessions, working with young people identified at-risk in partnership with Youth Empowerment Services and Newham Community Resilience.
Large-scale projects and events for Black History Month and Newham Heritage.
Newham Music Bridging Sounds Orchestra performing at Holocaust Memorial Day.

Newham Music has a wide-ranging remissions policy including:

All our borough choirs and ensembles are free of charge;
Schools vocal advisory sessions and a range of projects through ourselves and our partners for free or nominal cost;
For WCET, we subsidise this by up to 45% and also include an after school club as part of the provision;
Four hours additional concert support free for every school;
Subsidised fees for: students taking Arts Award through our Academy; families in receipt of Universal Credit by 50%:
supported applications for our young people to scholarship bodies such as London Music Fund and Awards for Young Musicians.

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NEWHAM MUSIC TRUST

REPORT OF THE TRUSTEES for the period 1 August 2022 to 31 March 2023

FINANCIAL REVIEW Financial position

The financial results for the period to 31 March 2023 are shown in the attached financial statements.

Total income for the period was £750,474 (2022 - £1,258,195) and total expenditure was £760,403 (2022 - £1,211,160).

There was a net decrease in funds of £9,929 (2021 - an increase of £47,035) with total funds carried forward of £680,929 (2022 - £690,858).

Investment policy and objectives

The charity has no investments. The charity does ensure that interest is earned on any surplus bank deposits it may have from time to time.

Reserves policy

The trustees have examined the requirement for free reserves i.e those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed. The trustees consider that, given the nature of the charitable company's work, the level of reserves should be equal to approximately six months of expenditure.

At 31 March 2023 the charity had unrestricted reserves of £657,569 (2022: £643,363) and restricted reserves of £23,360 (2022: £47,495).

Pay policy

The pay for senior staff is reviewed annually and benchmarked against pay levels for other organisations of a similar size delivering equivalent services.

Equality & Diversity policy

Newham Music Trust celebrates the diverse cultures, communities and environments that make up our society and the multitude of dimensions which characterise our diversity including but not restricted to; age, disability, gender, marriage or civil partnerships, pregnancy, race, religion or belief, sex, and sexual preference.

Further details of the charity's policy could be obtained at - https://www.newham-music.org.uk/about-us/policies-procedures/

FUTURE PLANS

Newham Music Hub: Westfield is our ambitious and new 'fit for the future' grassroots venue for Newham; a walk-by first-access music and arts space in Westfield Stratford. This new grassroots venue and social enterprise initiative will deliver on the vision set out in Arts Council England's Let's Create strategy, building an innovative platform for cultural to reimagine and experiment with new ways of reaching our communities, through an innovative arts space.

Co-creating cultural heritage with and for our communities, will define a tried-and-tested approach that other communities in underserved places can follow through a range of innovative programmes, to include:

Safe and Sound: co-curating and delivering cultural projects, workshops and residencies with and for refugees, migrants and asylum seekers in Newham.
Music Unlocked: working with Disabled musicians to identify and remove barriers they face in progressing their music and careers.
Street Studio Success: an open access community music studio and digital space providing free workshops and recording services for musicians and artists to record their works.
Newham Takeover: showcasing the best bands, DJs, musicians and emerging artists Newham has to offer, in free monthly festivals packed full of talented local artists.
Singing for Health: working with community groups and health practitioners to deliver open access workshops, choirs and singing groups, in a well-being and inclusive music space, linked to better health outcomes.
Come & Play: providing people of all ages with access to the joy of music making, to start or restart music-making journeys, on musical instruments.
Early Years: working with families to build stronger relationships with their children through innovative and holistic early year's music making.

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NEWHAM MUSIC TRUST

REPORT OF THE TRUSTEES for the period 1 August 2022 to 31 March 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is a company limited by guarantee as defined by the Companies Act 2006. The company was incorporated on 19 October 1995 with the objective of providing musical educational facilities for schools in the London Borough of Newham. This was formerly the responsibility of the local authority. The company is registered in England and Wales under registration number 03118107. The company was registered with the Charity Commission on 23 October 1995 under registration number 1050105.

The charity's governing document is its memorandum and articles of association dated 19 October 1995, as amended on 05 Sep 2018 and as amended further on 22 Jan 2019.

The Board of Trustees is the charity's governing body. The trustees are the company's directors and are not required to be members of the company.

Recruitment and appointment of new trustees

Trustees are recruited for their skills and experience. Where a gap in an area of expertise is identified the charity seeks to recruit someone with the appropriate abilities. They are individuals involved in education, commerce or community work.

There are restrictions on local authorities and individuals associated with local authorities becoming governors. The aim of this is to preserve the independence of the charity so that it does not become subject to influence by a local authority.

Organisational structure

It is the responsibility of the Board of Trustees to manage the business and affairs of the charity. The articles of the association provide that there shall be not less than four governors and not more than twelve. Trustees retire by rotation every three years and are able to offer themselves for re-election.

Decision making

The Board of Trustees meet throughout the year to review the running of the charity. The charity has a chief executive who is responsible for controlling its daily operations. The chief executive reports to the Board of Trustees.

Risk management

The charity has considered the risks that may have a significant effect on its operational performance, the achievement of aims and objectives and meeting the expectations of stakeholders.

Currently, banking arrangements are normalised and early fundraising targets are being met. A Business Stabilisation Plan has been written and submitted to Arts Council England along with a detailed budgetary forecast up to March 2022.

The award of the hub status has secured financial stability for the medium-term. However, due to current economic uncertainty and the political climate, the future beyond 2023 is uncertain. We do, however, continue to explore different financial and organisational models and to strengthen the services we provide. In addition, the award of hub status means we must develop much closer relationships with partners and seek to lead, support, galvanise and leverage resources in a much more proactive way where possible and appropriate.

The charity predominantly works with children. The trustees recognise the absolute necessity of ensuring the protection and safety of those the charity serves. This means the trustees and all those who work or volunteer for the charity must obtain clearance from the Disclosure and Barring Service (DBS). A Safeguarding Officer is nominated and safeguarding training is compulsory for all staff.

Review of Report

As independent auditors, Raffingers have reviewed the trustees report prepared by Newham Music Trust and agree that it is in line with the charity's objectives.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03118107 (England and Wales)

Registered Charity number

1050105

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NEWHAM MUSIC TRUST

REPORT OF THE TRUSTEES

for the period 1 August 2022 to 31 March 2023

Registered office

Unit 13 St Luke Business Centre 85 Tarling Road Canning Town London E16 1HN

Trustees

Mr J C Brannick Chair Ms C H Bowden Vice Chair Mrs M J Lane Honorary Trustee Mr J L Barber Director Mrs F Cullen Director Ms M Callender Director Mrs E A Oriakhi Director Mrs S H Beckett Director Mr J Boux Director Mr. E. B. Niman Director Ms L A Bhattacherjee Director

Company Secretary Mr J Bergin

Senior Statutory Auditor

Mr Thurairatnam Sudarshan FCCA

Auditors

Raffingers LLP, Statutory Auditor Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

Bankers

Barclays Bank Plc Plaistow Branch 737 Barking Road London E13 9PL

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Newham Music Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

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NEWHAM MUSIC TRUST

REPORT OF THE TRUSTEES for the period 1 August 2022 to 31 March 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

there is no relevant audit information of which the charitable company's auditors are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Raffingers LLP, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Mr J C Brannick - Trustee

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF NEWHAM MUSIC TRUST

Opinion

We have audited the financial statements of Newham Music Trust (the 'charitable company') for the period ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF NEWHAM MUSIC TRUST

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion;

statements; or

sufficient accounting records have not been kept; or
certain disclosures of trustees' remuneration specified by law are not made; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF NEWHAM MUSIC TRUST

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the charity's sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the association, including the companies Act 2006, Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102) (effective 1 January 2019), Trustees Act, Employment and Health and safety legislation, Vetting and safeguarding regulations and data protection;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence where necessary.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected transactions;
tested the appropriateness of journal entries;
tested authorisation of expenditure;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.

To address the risk that revenue could be misstated due to fraud, we:

we obtained an understanding of the company's revenue recognition policies and compared these to the accounting standard;
performed a walkthrough to confirm our understanding of the processes and controls through which the business initiates, records, processes and reports revenue transactions;
tested a sample of revenue transactions to supporting evidence; and
tested, on a sample basis, revenue related balances in the balance sheet.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation;
reading the minutes of meetings of those charged with governance;
enquiring of management as to actual and potential litigation and claims; and
reviewing correspondence with HMRC and relevant regulators.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF NEWHAM MUSIC TRUST

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Thurairatnam Sudarshan FCCA (Senior Statutory Auditor) for and on behalf of Raffingers LLP, Statutory Auditor Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD

Date: .............................................

Page 13

NEWHAM MUSIC TRUST

STATEMENT OF FINANCIAL ACTIVITIES for the period 1 August 2022 to 31 March 2023

Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities 4 Grant to cover the expenses towards the delivery of the core roles Grant to support transition to a viable and sustainable operating model Fees receivable Investment income 3 Total EXPENDITURE ON Charitable activities 5 Cost of music education and activities Fund-raising costs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted fund £ 52,710 - - 332,225 1,021 385,956 351,962 19,788 371,750 14,206 643,363 657,569	Restricted fund £ 71,974 292,544 - - - 364,518 388,653 - 388,653 (24,135) 47,495 23,360	Period 1.8.22 to Year Ended 31.3.23 31.7.22 Total Total funds funds £ £ 124,684 188,640 292,544 581,625 - 52,104 332,225 435,758 1,021 68 750,474 1,258,195 740,615 1,189,024 19,788 22,136 760,403 1,211,160 (9,929) 47,035 690,858 643,823 680,929 690,858	Period 1.8.22 to Year Ended 31.3.23 31.7.22 Total Total funds funds £ £ 124,684 188,640 292,544 581,625 - 52,104 332,225 435,758 1,021 68 750,474 1,258,195 740,615 1,189,024 19,788 22,136 760,403 1,211,160 (9,929) 47,035 690,858 643,823 680,929 690,858
				1,258,195
				1,189,024 22,136
				1,211,160
				47,035 643,823
				690,858

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 14

NEWHAM MUSIC TRUST

FIXED ASSETS Tangible assets CURRENT ASSETS Debtors Cash at bank and in hand CREDITORS Amounts falling due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds Restricted funds TOTAL FUNDS	BALANCE SHEET 31 March 2023 Notes 10 11 12 14	2023 £ 141,666 109,145 527,789 636,934 (97,671) 539,263 680,929 680,929 657,569 23,360 680,929	2022 £ 157,778 180,162 460,603 640,765 (107,685) 533,080 690,858 690,858 643,363 47,495 690,858

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Mr J C Brannick - Trustee

............................................. Ms C H Bowden - Trustee

The notes form part of these financial statements

Page 15

NEWHAM MUSIC TRUST

CASH FLOW STATEMENT

for the period 1 August 2022 to 31 March 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period

Period
1.8.22
to
Year Ended
31.3.23
31.7.22
£
£
70,603
(43,534)
70,603
(43,534)
(4,438)
(17,154)
1,021
68
(3,417)
(17,086)
67,186
(60,620)
460,603
521,223
527,789
460,603

The notes form part of these financial statements

Page 16

NEWHAM MUSIC TRUST

NOTES TO THE CASH FLOW STATEMENT for the period 1 August 2022 to 31 March 2023

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash provided by/(used in) operations	Period 1.8.22 to Year Ended 31.3.23 31.7.22 £ £ (9,929) 47,035 20,550 23,518 (1,021) (68) 71,017 (162,872) (10,014) 48,853 70,603 (43,534)

2. ANALYSIS OF CHANGES IN NET FUNDS

	At 1.8.22	Cash flow	At 31.3.23
	£	£	£
Net cash
Cash at bank and in hand	460,603	67,186	527,789
	460,603	67,186	527,789
Total	460,603	67,186	527,789

The notes form part of these financial statements

Page 17

NEWHAM MUSIC TRUST

NOTES TO THE FINANCIAL STATEMENTS for the period 1 August 2022 to 31 March 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Critical accounting estimates and areas of judgement

Preparation of the accounts requires the trustees to make significant judgements and estimates.The items in the accounts where these judgements and estimates have been made include:

estimating the useful economic life of tangible fixed assets for the purpose of calculating the depreciation charge; and
assessing the recoverability of outstanding debtors for fees for music education.

Going concern assessment

The trustees, having made appropriate enquiries, consider that adequate resources exists for the charity to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt going concern basis in preparing the financial statements as at and for the period ended 31 March 2023.

The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts. The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Grants are recognised when the charity has confirmation of both the amount and settlement date. In the event of grants offered but not received, the amount is accrued for where the receipt is considered probable. In the event that a grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacies are included in the statement of financial activities when the Charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the Charity.

Fees from the provision of music education comprise tuition and related fees paid in accordance with agreements between the charity and the respective schools or individual pupils' parents. Such income is recognised when the charity is entitled to receipt under the relevant contractual agreements.

Donated goods and services, including volunteers

Donated facilities and gifts in kind are included at the value to the charity where this can be quantified.

In accordance with the Charities SORP (FRS 102) volunteer time is not recognised.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

continued...

Page 18

NEWHAM MUSIC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the period 1 August 2022 to 31 March 2023

1. ACCOUNTING POLICIES - continued

Governance costs

Governance costs which comprise the costs directly attributable to the governance of the Charity, including audit costs and the necessary legal procedures for compliance with statutory requirements, are allocated directly to the charitable activities to which they relate.

Status

The charity is a company limited by guarantee. The members of the company are its trustees as named in the Report of the Trustees. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

Tangible fixed assets

Musical instruments are included in the accounts at valuation based on existing use. These assets are not depreciated. Their value and condition are reviewed by the trustees every five years on a rolling basis.The instruments were last revalued in March 2018 and are due to be revalued again shortly after the year end.

The remainder of the assets are stated at cost, net of depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% on cost Computer equipment - 20% on cost

Taxation

The company is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates two pension schemes. A defined benefit scheme with the Teachers' Pension Scheme (TPS), which is only available to teaching staff. The administration of this scheme is dealt with by the Teachers' Pension Agency. In addition there is a Personal Pension Scheme administered by Peoples Pension which is available to all other employees.

Contributions to both Schemes are charged directly to the Statement of Financial Activities. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

continued...

Page 19

NEWHAM MUSIC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the period 1 August 2022 to 31 March 2023

1. ACCOUNTING POLICIES - continued

Creditors and provisions

Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of settlement can be estimated reliably.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except for bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

2. DONATIONS AND LEGACIES

Grants and donations Donations from fund raising activities	Period 1.8.22 to Year Ended 31.3.23 31.7.22 £ £ 36,861 48,838 87,823 139,802 124,684 188,640	Period 1.8.22 to Year Ended 31.3.23 31.7.22 £ £ 36,861 48,838 87,823 139,802 124,684 188,640
		188,640

3. INVESTMENT INCOME

Deposit account interest 4. INCOME FROM CHARITABLE ACTIVITIES Activity Arts Council England Grant to cover the expenses towards the delivery of the core roles Arts Council England Grant to support transition to a viable and sustainable operating model Fees receivable Fees receivable	Period 1.8.22 to 31.3.23 £ 1,021 Period 1.8.22 to 31.3.23 £ 292,544 - 332,225 624,769	Year Ended 31.7.22 £ 68 Year Ended 31.7.22 £ 581,625 52,104 435,758
		1,069,487

continued...

Page 20

NEWHAM MUSIC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the period 1 August 2022 to 31 March 2023

5. CHARITABLE ACTIVITIES COSTS

Cost of music education and activities Fund-raising costs 6. SUPPORT COSTS Cost of music education and activities Support costs, included in the above, are as follows: Governance costs Auditors' remuneration	Support Direct costs (see Costs note 6) Totals £ £ £ 729,793 10,822 740,615 19,788 - 19,788 749,581 10,822 760,403 Governance Finance costs Totals £ £ £ 1,642 9,180 10,822 Period 1.8.22 to Year Ended 31.3.23 31.7.22 Cost of music education and Total activities activities £ £ 9,180 8,500

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

	Period
	1.8.22
	to	Year Ended
	31.3.23	31.7.22
	£	£
Auditors' remuneration	9,180	8,500
Depreciation - owned assets	8,657	10,778

continued...

Page 21

NEWHAM MUSIC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the period 1 August 2022 to 31 March 2023

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 31 March 2023 nor for the year ended 31 July 2022.

Trustees' expenses

There were no trustees' expenses paid for the period ended 31 March 2023 nor for the year ended 31 July 2022.

9. STAFF COSTS

Wages and salaries Social security costs Other pension costs	Period 1.8.22 to Year Ended 31.3.23 31.7.22 £ £ 454,831 797,158 19,563 33,284 14,928 24,738 489,322 855,180

The average monthly number of employees during the period was as follows:

	Period
	1.8.22
	to	Year Ended
	31.3.23	31.7.22
Charitable activities	56	60
Fund raising	-	1
Management and administration	10	8
	66	69

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

		Period
		1.8.22
		to	Year Ended
		31.3.23	31.7.22
£70,001	- £80,000	1	1

The charity uses volunteers during the musical concerts and other events.

continued...

Page 22

NEWHAM MUSIC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the period 1 August 2022 to 31 March 2023

10. TANGIBLE FIXED ASSETS

Instruments £ COST At 1 August 2022 114,664 Additions 4,270 Impairments (11,893) At 31 March 2023 107,041 DEPRECIATION At 1 August 2022 - Charge for year - At 31 March 2023 - NET BOOK VALUE At 31 March 2023 107,041 At 31 July 2022 114,664	Fixtures and fittings £ 49,291 - - 49,291 39,617 1,935 41,552 7,739 9,674	Computer equipment £ 114,014 168 - 114,182 80,574 6,722 87,296 26,886 33,440	Totals £ 277,969 4,438 (11,893) 270,514 120,191 8,657 128,848 141,666 157,778

The Instruments are revalued every five years on a rolling programme. The valuation is done by the trustees with professional assistance.

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Debtors Prepayments and accrued income 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors Accrued expenses	2023 £ 97,145 12,000 109,145 2023 £ 6,280 8,991 82,400 97,671	2022 £ 32,695 147,467 180,162 2022 £ 7,708 40,510 59,467 107,685

continued...

Page 23

NEWHAM MUSIC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the period 1 August 2022 to 31 March 2023

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted fund £ Fixed assets 141,666 Current assets 613,574 Current liabilities (97,671) 657,569 14. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Other restricted funds TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Other restricted funds TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Other restricted funds TOTAL FUNDS	Restricted fund £ - 23,360 - 23,360 At 1.8.22 £ 643,363 47,495 690,858 Incoming resources £ 385,956 364,518 750,474 At 1.8.21 £ 539,154 104,669 643,823	2023 2022 Total Total funds funds £ £ 141,666 157,778 636,934 640,765 (97,671) (107,685) 680,929 690,858 Net movement At in funds 31.3.23 £ £ 14,206 657,569 (24,135) 23,360 (9,929) 680,929 Resources Movement expended in funds £ £ (371,750) 14,206 (388,653) (24,135) (760,403) (9,929) Net movement At in funds 31.7.22 £ £ 104,209 643,363 (57,174) 47,495 47,035 690,858

continued...

Page 24

NEWHAM MUSIC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the period 1 August 2022 to 31 March 2023

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Other restricted funds TOTAL FUNDS	Incoming resources £ 507,932 750,263 1,258,195	Resources expended £ (403,723) (807,437) (1,211,160)	Movement in funds £ 104,209 (57,174) 47,035

Restricted funds

During the year, the charity received donations and grants to be applied to specific purposes as listed below:

Arts Council

Consists of annual funding from the Department for Education through Arts Council England to deliver our core roles - ensuring children from age 5-18 in the borough have the opportunity to sing, learn instruments, perform and have access to high-quality music experiences.

Jack Petchey awards

Donations from the Jack Petchey Foundation for awards for pupil achievement and leadership (for teachers). These awards are used for projects and reward programmes for Academy students.

Mayors Fund for young musicians

Funds from London Music Fund (previously Mayor's Fund for Young Musicians) awards scholarships to music pupils to pay for lesson and ensemble fees.

Young Londoner Grant

Supported by the Mayor of London's Young Londoner's Fund, our Street-Studio-Success programme is an innovative fully mobile digital music project focused on early intervention, engaging young people between 12 and 14, whose behaviour is causing serious cause for concern.

Aspers Funding

To run songwriting workshops and create musical resources for the big concert at the Velodrome.

SEND in Schools

Newham Music teachers go into the schools to deliver this and the schools pay for the delivery of the lessons.

15. EMPLOYEE BENEFIT OBLIGATIONS

The charity contributes to two pension schemes. A defined benefit scheme operated by the Teachers' Pension Scheme, which is only available to teaching staff. The administration of the scheme is dealt with by the Teachers' Pension Agency. Contributions to this scheme are paid in respect of current service, and there is no liability to the charity in respect of past service.

In addition, there is a Personal Pension Scheme, which is a defined contribution pension scheme, administered by Peoples' Pension which is available to all employees.

The charge to the Statement of Financial Activities of £14,928 (2022: £24,738) represents contributions to the funds during the period.

At 31 March 2023, the charity owed £483 in respect of Teachers' Pension and £2,419 in respect of Peoples' Pension.

continued...

Page 25

NEWHAM MUSIC TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued for the period 1 August 2022 to 31 March 2023

16. CONTINGENT LIABILITIES

There were no contingent liabilities at 31 March 2023 (2022 - none).

17. CAPITAL COMMITMENTS

At 31 March 2023, the charity had no contracted commitments for capital expenditure, not provided for, in the accounts (2022 - none).

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the period ended 31 March 2023 or 31 July 2022.

19. AUDITOR LIABILITY LIMITATION AGREEMENT

The company has entered into a liability limitation agreement with Raffingers LLP, the statutory auditor, in respect of the statutory audit for the period ended 31 March 2023. The proportionate liability agreement follows the standard terms in Appendix B to the Financial Reporting Council's June 2008 Guidance on Auditor liability Agreements and was approved by the directors on 20 June 2023.

Page 26

NEWHAM MUSIC TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the period 1 August 2022 to 31 March 2023

INCOME AND ENDOWMENTS
Donations and legacies
Grants and donations
Donations from fund raising activities
Investment income
Deposit account interest
Charitable activities
Arts Council England
Fees receivable
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Rent and rates
Insurance
Telephone
Postage and stationery
Advertising
Sundries
Project expense
Computer software, repair and maintenance
Staff training
Fundraising
Professional and consultancy fee
Room hire & exam fee
Impairment of instruments
Fixtures and fittings
Computer equipment
Support costs
Finance
Bank charges

Period
1.8.22
to Year Ended
31.3.23
31.7.22
£
£
36,861
48,838
87,823
139,802
124,684
188,640
1,021
68
292,544
633,729
332,225
435,758
624,769
1,069,487
750,474
1,258,195
454,831
797,158
19,563
33,284
14,928
24,738
57,127
56,300
-
2,422
2,354
1,779
2,016
1,858
1,519
765
8,832
6,594
102,691
181,510
18,433
23,485
37,802
37,036
-
1,483
6,315
1,329
2,620
7,079
11,893
12,740
1,935
2,418
6,722
8,360
749,581
1,200,338
1,642
2,322

This page does not form part of the statutory financial statements

Page 27

NEWHAM MUSIC TRUST

Governance costs Auditors' remuneration Total resources expended Net (expenditure)/income	DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the period 1 August 2022 to 31 March 2023 Period 1.8.22 to Year Ended 31.3.23 31.7.22 £ £ 9,180 8,500 760,403 1,211,160 (9,929) 47,035	DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the period 1 August 2022 to 31 March 2023 Period 1.8.22 to Year Ended 31.3.23 31.7.22 £ £ 9,180 8,500 760,403 1,211,160 (9,929) 47,035	DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the period 1 August 2022 to 31 March 2023 Period 1.8.22 to Year Ended 31.3.23 31.7.22 £ £ 9,180 8,500 760,403 1,211,160 (9,929) 47,035
		for the period 1 August 2022 to 31 March 2023
			1,211,160
			47,035

This page does not form part of the statutory financial statements

Page 28