HARROW YOUNG MUSICIANS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023 111 •AKG9QTD• 2f40912024 COMPANIES HOUSE A19
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HARROWYOUNG MUSICIANS INDEX TO THE ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31ST AUGUST 2023 Page No. 14 Director5. and Trustees. ReKx)rt Independent Examinerfs Report Statement of Financial Activthes Balance Sheet 8-12 Notes to the Financial Statements DIRECTORS AND TRUSTEES: Mr K Ferry Mr P Aplin Mrs M Abbott Mr L Davie5 Mr D Desmond REGISTERED OFFICE: 1A North End Road Quainlon Buckinghamshi HP22 4BD COMPANY NUMBER: 03333808 CHARITY NUMBER: 1068985 WEBSITE." www.hym.org.uk
HARROWYOUNG MUSICIANS DIRECTORS ANO TRUSTEES REPORT YEAR ENDED 31ST AUGUST 2023 The directors and Iruslees present their annual report tc43ether with the accounts of the Charity for the year ended 31 st August 2023. PRINCIPAL ACTivrrY The principal activity ofthe Charity is to organise musical opportunitie5 for young people who live in and around the Borough of Harrow. This involves weekly term lime rehearsals and regular public concerts. Harrow Young Musicians I'HYM'I has gained an enviable reputation for music-making lo a high level in a lively and friendly atmosphere. STRUCTURE, GOVERNANCE AND MANAGEMENT The Charity is a Company limited by guarantee. governed by ils Memorandum and Articles of As50ciabon. GOVERNANCE The board sel strategic objectives and ensured effeckn've controls were in place for the management of the Charity. The trustees have considered the Charity Commission's general guidance on public benefit in relation lo the aims of the Charty. The report sets out these aims and objectives in felation to the advance of music education and describes how they have been mel in the cuirent year. DIRECTORS AND TRUSTEES HYM is managed by a committee comprising volunteers. HYM is run and managed in compliance with. and according to. the Memorandum and Articles of Assoeiation. The Directors and Trustee5 that held office during the period of the accounts and to the date the accounts were signed are".- Mrs M Abbott Mr L Davies Mr P Aplin Mr D Desmond Mr K Ferry Dr J Boxall Director Director. As51slant Treasurer Oireclor. Treasufer Oireclor. Chair Director. Wice Chair Director Trustee Trustee Trustee Trustee Trustee Trustee {Resigned 5 April 2023)
HARROW YOUNG MUSICIANS DIRECTORS AND TRUSTEES REPORT YEAR ENDED 31ST AUGUST 2023 OBJECTIVES The Charity's Obj'ects are lo advance public educalion in all aspects of music and in particular children and young people living in Harrow. Greater London. In addition, HYM have an objective to develop and improve children's behaviour, confidence and selfesleem through the expenence of music in large groups. FUNDING HYM no longef receNes the grant it previousty received from the London Borough of Harrow. Income is now exclusively covered by fee5 paid by meme and voluntary donations. This pays for specialist mu51c staff to lead weekly rehearsals and running costs of the Ofganisation. HYM presents publi¢ concerts and receives income for these from ticket sales. This income offsets the cost of concert hall rental, and music and instrument hire. PROJECTS AND ACTIVITIES All individltal groups perfomi in public ¢on¢erts_ There are larger concerts when groups perform together ineluding in the last four years.. Harrow Speech Room. St John Smith'5 Square, LSO St Luke's and Sl Marks Basili¢a, Venice. SERVICES In addition to providing the opportunity for children to improve their vnusical abilities. there is an indirect pastoral care benefit for the members of HYM. This pastoral care allows the children lo develop in a posib.ve envirorimenl, encouraging goc¥J behaviour and alkming their indivKfual personalth'es lo grow and mature. ACHIEVEMENTS HYM concert5 are notable foT the excellent reception that greets the end of most of its performances. 11 offers a shared experience for the family with children performing to local digniiarFe5 and their parents and other famity members. VOLUNTEER CONTRIBUTIONS HYM is reliant on volunteer ¢ontribubons principalty from parents. trustees and former Students who contribute lime and energy in helping HYM successfully stage concerts as well as assisting in the day-lo-day operation of the charity-
HARROW YOUNG MUSICIANS DIRECTORS AND TRUSTEES REPORT YEAR ENOED 31ST AUGUST 2023 REVIEW OF THE YEAR The year ended 31st August 2023 FINANCIAL REVIEW OF THE YEAR The accounts have been prepared in accordance wth the accounting policies set out in note 110 the accounts and comply with the company's Memorandum and Articles of Associats"on. the Companies Act 2006. the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102) and the Statement of Recommended Practice 'Accounting and Reporting by Charities 2Th0 edrtion. effective January 2019. The net income for the year was £3,662 12022= loss of £10,617). HYM was able lo move from a loss in the prior year to a small surplus in the current year as HYM was able to inuease fees in the current year and. reduce staff and concert cosls. The financial statements show a net reseNes position of £44,713 with all funds being unrestricted. These reserves will enable HYM lo continue lo offer music 5eivices to young people for the foreseeable future. FUTURE DEVELOPMENTS Due to several factors including the ongoing effects of the COVID-19 pandemic and change lo rnidweek rehearsa15, due lo a loss in premises availabilty. there has been a signrficanl decline in the number of students since HYM reopened in Spring 2021. This resutted in HYM running at a loss in the prior years. Certain measures have been pul into place to increase sludenl numbers and reduce costs for the current financial year resulting in a small surplus. For the upcoming year new premises have been secured which will enable HYM to continue to operate at a similar level to the current year with the opportunity for further growth in the future years. MANAGEMENT POLICIES The principal financial managemenl wlicies are.. Set a fair and realistic fee to charge the children that attend HYM Set a fair and affordable price for entry lo the concerts Sel and agree affordable rates of pay to engage musicians to direct the rehearsals and concerts Sellle promptty Invol received and other costs. E.g. Hire of premises and purchase of music The financial objective is lo break even or incur 2 small deficit or surplus and to not relain excessive reserves Other rnanagement policie5." Meet responsibilib.es in terms of safe-guarding and Child protection and child care Address complaints and whistle blowing Formulate anti bullying policies
HARROWYOUNG MUSICIANS DIRECTORS AND TRUSTEES REPORT YEAR ENDED 31ST AUGUST 2023 TRUSTEES. RESPONSIBILITIES Company law requires the Truslees to Ppare financial statements for each financial year which give a true and fair view of the slate of the affairs of the charitable company as at the balance sheet dale, and of ils incoming resources and application of resources. including income and expenditure for the financial year. In eparing those financial statements, the Tiustees should follow best practi and.. Select suitable accounting policies and Ihen apply them wnsistently Make judgements and estimates that are reasonable and prudenl and Prepare the financial statements on the going Concern basis unless il is inappfopriate to assume that the company will continue on that ba&s. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy al any lime the financial posibon of the charitable company and to enable them lo ensure that the financial statement5 comply with the Companies Act 20C6. The TrLJStees are 3150 responsible for safeguarding the a55els of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees have al all times cornplied with the duty in section 4 of the 2006 Charities Act lo have due regard lo guidance published by the Charity Commission, including public benefit guidance. The Company is one lirniled by guarantee and not having a share Gapital. Approval In preparing this report, the directors and trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 20¢. This rePt was approved by the Board on 24 September 2024 and signed on ils behalf. By Order ofthe Board Peter Aplin.. Director and Trustee
INDEPENDENT EXAIAINEifs REPORT TO THE TRiISTEES OF HARROW YOUNG fausiGIANS I reporl to the {who ae also Directors for ihe puw of cOmY I) on my eXanlnati ofthe financial ststements of Harrt)w Young MUS18$ {'the chanlable ¢cmpany') for the year ended 31 August 2023 whkh comprise the Statement of Financial Pttivittes, the Balar Sheet and related note& Thi5 report is made solety to the charty's trus18e5, as a b)dy, in XC0rda se¢ts 145 of the Chaiittes hLt 2011. .My work has been undertaken so that I mmj state to tIE charity's trustees those matters l am required to state trj them in thi5 report and for no oihw wrpose. To the fulst extent pomibtted by law, I do not awpt or assume reSpon'lty to anyone Otr than the charTrty and the charity's tslees as a body, for my worK for this repor( or for the opinions I have fomd. Responslbllltles and basis of report As the trustee5 of tharitable company you are responsible fDr the preparalion of th8 fincial statements in accordance Ihe requirements of the Companies Act 200S {Ihe 21M)6 Acr). Havlng satisfd myselfthat the financial slaleffnts oftr ch11 compffj are Th)t required to bg audited under Part 16 of IheAct and are eligibleforindeperthitWAamination. I reFOrt in respe¢t of rny exaniThation of the Charitable company's financial statements crd ¢)Lrt under sectton 145 of the Charities Ad 2011 (Ihe 2011 Act) and in carying out my examination I hale folbwed the aWICab Direction> given ty the Chanty Commission under section 145(5)(b) of the 2011 ACL An independent examination does noi invdve gathefing all ihe eviden that woLAd required in an audit and ¢onsequenY does not all the mattefs that an auditor nSiderS n gNing their opinion on the financi81 statements. Tr plannn9 and cOndt of • audit goes teyond the limiled assurance that an independent examination can yoyide. Consequentty l express no opini)n as to whetherthe financial slatements present a rne and fairf Mew and rry report is limited to those specfft trAiiers set out in the 1r¥endentexamuS statement Indopendent examinetrs $t•t¢ment I have completed my examination. I cthfirm that no maierial have me io my attention in connectKJn with the examinab'on giving me cause to belie that in any m*iial re5
accounting recuds re not kept in SpeCt of the Chb corryny as required ty sectbn 386 of the 21)06 Act: or the fjnancral ststenEnts do n¢ accord wilh tsKe records.. or the fin8nci415tatements do not compty with the ac¢ountrng requirements of sedion 396 of the 2006 Act olher than any requirernent that the financial statements gp a 'true and frair viw which is not a matt8r onsidered as partof an ind4erttlent examinatK>n' tLe fina)cial statements have not been prepwed in acttdan with the method5 and principle5 of the Ststement of Recorrrnended Pfaclice for accounting and reporting by charities applicable lo charittes Pparing their eounts in accordarKA wilh the Financial Repjrting Standard applicabl& in the UK and Rppublic of Ireland {FRS 102}. I have no concems and have come across other fflatt3 in cOnnOn with the exaThNnafion to which attention $hould be drawn in this rek in to enable a PToper under5tandr*g ofthe financial statements to be reached. 24 september 2024 Raymond Bernsteln FCA l-count Llmited Oe5box Unit 245 East Richard50n stet High Wycombe Buckinehamshire HP112NP
HARROYI YOUNG MUSICIANS STATEMENT OF FINANCIAL ACTIVMES INCLUDING AN INCOMEAND EXPENDITURE ACCOUNT YEAR ENDED 31ST AUGUST 2023 Note 2023 2022 Incomè and endowments from: Donations and legacies Charrtable acbvib.es Investments Total Income 14,068 29,754 186 44,008 12,001 25.955 37.956 Expenditure on: Charitable activities Total Expenditure 40,346 48,573 48.573 Net IncomellExpenditurel Reconciliation of funds: Brought forward Carried forward 41,051 44.713 51.668 The notes on page5 8 10 12 form an integral part of these financial statements.
HARROW YOUNG MUSICIANS BALANCE SHEET AS AT 31ST AUGUST 2023 Note 2023 2023 2022 2022 Current Assets: Debtors Cash at bank and in hand 11.105 37.807 10.479 34.754 48.912 45.233 Creditors". Amounts falling due within one year 10 14. 199) 14,182) Total nel Assets 44.713 41.051 Accumulated funds: Unrestricted income funds 12 44.713 41,051 Total funds 44,713 41,051 The dire¢tor5 and trustee5 consider that the company is entitled to exemplKJn from the requirement lo have an audit under the provisions of section 477 of the Companies Act 2006 {"Ihe Act") and no notiee requiring an audit has been deposited under section 476 of the Act. The directors and trustees acknowledge their re5ponsibililie5 for complying with the requirements of the Act with respect lo accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisnS applicable to companies subject to the small companies regime. Under the Companies Act 2006, on a voluntary basis. the trustees can amend the financial statements if they subsequently prove to be defectsve. The financial Statements were approved by the 8oard on 24 September 2024 and signed on ils behalf. Peter Apl Director and Trustee Company number. 03333808 Charity num.. 1C66985 The notes on pages 8 to 12 form an integral part of these financial statements.
HARROW YOUNG MUSICIANS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023 1. ACCOUNTING POLICIES The principal accounting polieies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year. 1.1 Basis of accounting The financial statements have been prepared lal under the historical cost convention with items recogni5ed at cost or transaction value unless otherwise slated in the relevanl notes to these accounts.. and Ibl in accordance with the Companies Act 2006. the Financial Reporting Slandar¢Y applicable in the UK and Republic of Ireland {FRS 102}, and Accounting and Reporting by Chanlie5.' Statement of Recommended PraCte ISORP 2nd edition effective January 2019} applicable to charilie5 preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102). They also include the results of the charity's operations which are described in the Director5, and Trustees, Report. all of which are continuing. HYM meets the definrtion of a public benefft entity under FRS 102. 1.2 Fund Accounting Unrestricted funds are available for use al the discretson of the trustees in furthe¥ance of the general objectives of the charity. Restricted funds are subjected lo restrictions on their expenditure imposed by the donor or through the terms of an appeal_ 1.3 Incoming Resources Income from the company's various sources is shown gross wth the a550ciated costs included under'ResourS Expended.. Unless othemise stsled. all grants, whether Capital or revenue, are accounted for in the period in which they are receivable. No pemianent endowments have been received in the year. 1.4 Government grant income Government grant income ielales to anx*unts receivable under the Coronavirus Job Retention Scheme and is recognised on an accrual basis and is reec<Jnised in the same period as the related salary costs for which the grant is intended to compensate. 1.5 Expenditure Expenditure is recognised on an &crual basis as a lbIlity is incurred. Expenditure includes any VAT which cannot be fully reCoved. and is reported as part of the exFenditure to which il relales.. Charitable expenditure comprises those costs incurfed by the charity in the delivery of its activities and services for ils beneficiaries.11 includes bolh costs thatcan be allocated direct and costs of an indirect nature lo support them. Governance costs inclLKle those costs associated with meeting the consblutional ond statutory requirements of the charity.
HARROW YOUNG MUSICIANS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023 1. ACCOUNTING POLICIES Icontinugd) 1.6 Going concern The financial statements have been prepared on a going wn¢em basis. The trustees believe that de5Plte the ongoillg 1055es in the current year the Company ha5 enough reserves for at least 12 months from the signing dale of these accounts. 1.7 Debtors Debtors are renised at settlement value. 1.8 Liabilities Liabilities are recognised when there is an obligation al the balance sheet date as a result of past event, il is probable that a transfer of economic benefit will be required in setllement. and thè amount of the settlement can be reliably eslimaled. Liabilities are recognised al the amount that the charity anticipates il will pay lo sellle the debt. 1.9 Taxation The company is not liable lo tsxatM)n being a registered charity. 1.10 Financial Instruments The company ha5 financial assets and liabilities of a kind that qualify as basic financial instruments These are initially recognised at transaction value and are then measured al amortised c051. Financial assets held at amortised cost comprise cash at bank and debtors. Financial lia-litieS held at amortised cost are creditors (including accrualsl. 1.11 Judgements Preparation offinancial statements require5 rnanagement to makejudgements, estimates and assumptions that affect the affloun15 reported a5 assets and liabilities at the balance sheet date and the amounts reported as revenues and expenses during the year_ Actual outcomes could drffer from those estimates. No judgements made have had a significant effect on the amounts recognised in the financial 5tatemellts. 2. VOLUNTARY INCOME 2023 2022 Donations Gift Aid tsx refund 8.568 5,500 6,843 5,158 Total voluntary income 14,068 12,001 All voluntary income received in in the current and prior year was unrestricted_
HARROW YOUNG MUSICIANS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023 3. INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Membership fees Concert & refreshment sales 29.754 22,888 3.CE7 Totsl voluntary income 29.754 25,955 All income frorn charitable activtties received in in the current and prior year was unreslricled. 4. TOTAL RESOURCES EXPENDED Charitable Govemance expenditure 2023 Total expenditure 2023 Total expenditure 2022 2023 Costs directly allocated to activities Salaries and employe NIC Conductors. tutors and admin fees Music costs Concert costs 28,000 11,250 29.884 29,884 268 268 252 6358 31,282 Support costs allocated to activities Premise costs Insurance Telephone Independent examiners Accounting Soare costs Miscellaneous Bank Charges 7.500 7.500 861 710 250 250 578 824 101 500 370 13011 370 (3011 500 500 9.564 Total resources expended 39.846 io
HARROW YOUNG MUSICIANS NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 ST AUGUST 2023 5. OPERATING SURPLUSIDEFICIT This is slated after charging 2023 2022 Employee costs {see note 61 Independent Examination fee 28,000 250 500 Total 500 28,250 6. ANALYSIS OF STAFF COSTS AND DIRECTOR REMUNERATION AND EXPENSES 2023 2022 Gr05S Salaries Employers NIC 28,000 Total staff costs 28,000 There were no employees in receipt of emolvments greater than £60.000 (2022 Nill. Average number of 51aff during the year was nil.. {2022". 11 7. RELATED PARTY TRANSACTIONS There were no trustees and directors reimbursed for expenses during the year {2022". Nil}. 8. INVESTMENT INCOME 2023 2022 UK Bank interest - gross 186 Total li
HARROW YOUNG MUSICIANS NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST AUGUST 2023 9. DEBTORS 2023 2022 Gift Aid tax refund Prepayments 10.305 800 9.677 802 Total 11,105 10,479 10. CREDITORS FALLING DUE WITHIN ONE YEAR 2023 2022 Taxation and social security Other creditors Accruals (note 11) 2,609 831 759 2.832 600 750 Total 4.199 4.182 11. ACCRUALS 2023 2022 Independent examination Other co515 750 250 500 Totsl 759 750 12. MOVEMENTS IN FUNDS 1st September 2022 Incoming Outgoing Transfers resources Trsources 31&l August 2023 Unrestricted Funds General funds 41.051 44.008 (40,346) 44.713 41.051 44.008 140,346) 44,713 Total Funds 41.051 44,008 (40.346} 44.713 12