# ## ## |CONTENTS|||||| |---|---|---|---|---|---| ||||||Page| |Legal and administrative|||information||| |Trustees'
annual
report|||||2-8| |Independent|auditor's|report|||9-12| |Statement of|financial|activities|||13| |Statement of|cashflows||and reconciliation|ofnet debt|124| |Balance sheet|||||15| |Notes to the financial statements|||||14-27| ## |Charity number|Charity number|Charity number|1072627|||| |---|---|---|---|---|---|---| |Company||number|03448894|||| |Governing||document|The Company
is governed
and articles ofassociation.|||by iis memorandum| |Known as|||The Conservatoire|||| |Registered||and||||| |Principal|Office||19-21 Lee Road|||| ||||Blackheaih|||| ||||London|||| ||||SE39RQ|||| |Auditors|||Knox Cropper|LLP||| ||||65Leadenhall|Street||| ||||London|||| ||||EC3A 2AD|||| |Bankers|||Barclays|||| ||||Level 27, 1 Churchill||Place|| ||||London|||| ||||E145HP|||| |Current Trustees|||Theano Sakkas|—Chair||| ||||Jane Burton|||| ||||Clare Comwell|||| ||||Nathan
Homan|||| ||||Katrina Shenton|||| ||||Emma Smillie|||| |Executive Director|||Kay Sandford-Beal|||| |Website|||https://www.
cons ervatoire. org.|||uk| ## ## ## ## ## |he follo
elow.|wing trustees
held office betw|een
1 September 2020 and the date of thi|s report, unless ot| |---|---|---|---| |Name||Date Appointed|Date Resigned| |Jane Burton|||| |Clare Cornwell||16December 2020|| |Joanne|Harrison||31 August 2021| |Nathan|Homan||| |Theano|Sakkas||| |Katrina|Shenton||| |Emma|Smillie||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---| |||Notes|Fundsf|Funds
Z|2021f|2020f| |Income from||||||| |Donations
and legacies||2||36,195|36,195|60,437| |Charitable
activities||2|1,364,202||1,364,202|1,163,139| |Other trading activities||2|867||867|13,000| |Total income|||1,365,069|36,195|1,401,264|1,236,576| |Expenditure
on||||||| |Charitable
activities|||1,198,012|29,192|1,227,204|1,291,157| |Raising funds||||||| |Total expenditure||3|1,198,012|29,192|1,227,204|1,291,157| |Net Income/(expenditure)|||167,057|7,003|174,060|(54,581)| |Transfers
between funds||||||| |Net movement
in funds/(deficit)|||167,057|7,003|174,060|(54,581)| |Reconciliation offunds||||||| |Total funds/(deficit)
at|1 September||(52,089)|24,147|(27,942)|26,639| |Total funds/(deficit)|at 31August|13|114,968|31,150|146,118|(27,942)| ## ## ## ||||Notes|2021|2020| |---|---|---|---|---|---| |Fixed assets|||||| |Intangible asset|||||| |Tangible assets||||1,529,910|1,586,496| |Current assets||||1,529,910|1,586,496| |Debtors
Cash at bank and|in|hand|8|164,103
639,762|91,066
389,225| |Creditors: amounts||falling||803,865|480,291| |due within one year|||9|(591,562)|(441,049)| |Net current assets||||212,303|39,242| |Total assets less current|||||| |liabilities||||1,742,213|1,625,738| |Creditors: amounts||falling|||| |due after more than|one||||| |year|||10|(1,596,095)|(1,653,680)| |Net assets/(liabilities)||||146,118|(27,942)| |Represented
by:|||||| |Unrestricted
Funds|||13||| |General
Fund
Revaluation
Reserve||||(427,761)
542,729|(600,654)
548,565| |||||114,968|(52,089)| |Restricted Funds|||13|31,150|24,147| |||||31,150|24,147| |Total surplus(deficit)||||146,118|(27,942)| ## ## ## ## ## ## ## ## ## |l life.|| |---|---| |Freehold
Suildings|-1%on cost| |Improvements
to Property|-5%on cost| |Computer
Equipment|-25% on cost| |Musical Instruments|- 10%on cost| |Furniture
and Equipment|- 10%on cost| ## ## ## ## ## ## ## ||Unrestricted|Restricted|Total|Total| |---|---|---|---|---| ||2021|2021|2021|2020| ||6|f|6|6| |Donations
and legacies:||||| |Donations||36,195|36,195|60,437| |||36,195|36,195|60,437| |Charitable
activities:||||| |Course income|906,637||906,637|1,040,743| |Grant income|375,535||375,535|28,021| |Rental income|68,427||68,427|76,620| |Other Income|13,603||13,603|17,755| ||1,364,202||1,364,202|1,163,139| |Other trading activities||||| |Rental income|867||867|13,000| |Total income|1,365,069|36,195|1,401,264|1,236,576| ## |xpenditure||| |---|---|---| ||Total 2021|Total 2020| ||6|8| |Costs directly allocated to activity||| |Tuition costs|552,325|587,144| |Other costs|17,695|22,451| |Supportcosts||| |Staff costs|354,371|329,637| |Office costs|55,133|51,950| |Outreach costs||14,117| |Marketing
and publicity costs|18,290|22,634| |Premises costs|79,949|76,700| |Professional
fees|20,740|33,763| |Finance costs|62,668|66,194| |Depreciation|58,833|79,487| |Governance|7,200|7,080| |Total expenditure|1,227,204|1,291,157| ## ## |||||| |---|---|---|---|---| |4|Operating
profit|||| ||This is stated after charging:||2021|2020| ||||6|6| ||Trustees emoluments|||| ||Auditor's
remuneration|(inc VAT)|7,200|7,080| ||Depreciation
oftangible|and intangible assets|58,833|79,487| |5|Staff costs|||| ||||2021f|2020
6| ||Wages and salaries||344,206|316,440| ||Social security costs and pension costs||10,165|13,197| ||||354,371|329,637| ||The average head count of staff employed|||| ||during the year was:|||| ||||2021|2020| ||||No|No| ||Charitable
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6| |---|---|---| |Bank loan||| |Other loan|1,453,680|1,472,432| ||1,453,680|1,472,432| ## ## ## |Analysis of net assets between funds|Analysis of net assets between funds|Analysis of net assets between funds|Analysis of net assets between funds|Unrestricted
Restiicted
Total|Unrestricted
Restiicted
Total|Unrestricted
Restiicted
Total|Total| |---|---|---|---|---|---|---|---| |Fund balances are
Tangible/intangible
Current assets
Total liabilities|represented
fixed assets||by:|Funds
f
Funds
2021
f
f
1,529,910
772,715
(2,187,657)
1,529,910
31,150
803,865
(2,187,657)|||2020f
1,586,496
480,291
(2,094,729)| ||||||114,968|31,150
146,118|(27,942)| |Movement
in funds|||||Net|Transfer|| ||||||Movement|Between|| |Unrestricted
funds||||B/fwdf|in Funds
f|Funds
f|C/fwdf| |General fund
Revaluation
reserve|||(600,654)
548,565||167,057|5,836
(5,836)|(427,761)
542,729| |Total unrestricted
funds||||(52,089)|167,057||114,968| |Restricted funds|||||||| |Developing
Young Potential
Outreach
Fund||Fund||24,147|7,003||31,150| |Total restricted
funds||||24,147|7,003||31,150| |Total funds|||(27,942)||174,060||146,118| ## ## ## ## |2021
6|2020f| |---|---| ## ## ## ## ## ## ## ## ||||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---| |Income and Expenditure|account - 2020|Notes|Funds|Funds|2020|2019| ||||6||6|6| |Income from||||||| |Donations
and legacies||2|16,108|44,329|60,437|57,409| |Charitable
activities||2|1,131,858|31,281|1,163,139|1,442,827| |Other trading activities||2|13,000|-|13,000|28353| |Total income|||1,160,966|75,610|1,236,576|1,528,589| |Expenditure
on||||||| |Charitable
activities|||1,246,020|45,137|1,291,157|1,478,977| |Raising funds||||||| |Total expenditure||3|1,246,020|45,137|1,291,157|1,478,977| |Net (expenditure)/income|||(85,054)|30,473|(54,581)|49,612| |Transfers
between funds|||34,284|(34,284)||| |Net movement
in (deficit)/funds|||(50,770)|(3,811)|(54,581)|49,612| |Reconciliation
offunds||||||| |Total (deficit)/funds
at 1 September|||(1,319)|27,958|26,639|(22,973)| |Total (deficit)/funds
at 31|August|13|(52,089)|24,147|(27,942)|26,639| ## ## ## ## |Incoming resources - 2020||||| |---|---|---|---|---| |||Unrestricted|Restricted|Total| |Income from||2020
f|2020
6|2020
6| |Donations
and legacies||16,108|44,329|60,437| |||16,108|44,329|60,437| |Charitable
activities:||||| |Course income||1,040,743||1,040,743| |Rental income||76,620||76,620| |Other Income||14,495|31,281|45,776| |||1,131,858|31,281|1,163,139| |Other trading activities||||| |Rental income||13,000||13,000| |||1,160,966|75,610|1,236,576| |Analysis ofnet assets between funds -2020||Unrestricted|Restricted|Total| |||Funds
f|Funds
6|2010
6| |Fund balances are represented|by:|||| |Tangible fixed assets
Current assets
Total liabilities||1,586,496
456,144
(2,094,729)|24,147|1,586,496
480,291
(2,094,729)| |||(52,089)|24,147|(27,942)| ## ## ## |Movement|in|funds 2020|funds 2020|||Net|Transfer|| |---|---|---|---|---|---|---|---|---| |||||||Movement|Between|| ||||||B/fwd|in Funds|Funds|C/fwd| ||||||8|8|8|6| |Unrestricted||funds||||||| |General fund|||||(555,720)|(50,770)|5,836|(600,654)| |Revaluation|reserve||||554,401||(5,836)|548,565| |Total unrestricted|||funds||(1,319)|(50,770)||(52,089)| |Restricted funds||||||||| |Developing|Young||Potential|Fund|26,502|(2,355)||24,147| |Piano Fund|||||1,456|(1,456)||| |Capital Works||Fund||||||| |Total restricted||funds|||27,958|(3,811)||24,147| |Total funds|||||26,639|(54,581)||(27,942)|