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2022-08-31-accounts

Page
Legal and administrative information
Trustees'
annual
report		 2-8
Independent
auditor's		 report 9-12
Statement
offinancial		 activities
Statement
of cashtlows		 and reconciliation of net debt 14
Balance sheet 15
Notes to the financial statements 16 - 27

Charity number number 1072627
Company number 03448894
Governing document The Company is governed by its memorandum
and articles of association.
Known as The Conservatoire
Registered and
Principal Office 19-21 Lee Road
Blackheath
London
SE39RQ
Auditors Knox Cropper LLP
65 Leadenhall Street
London
EC3A 2AD
Bankers Barclays
Level 27, 1 Churchill Place
London
E145HP
Current Trustees Jane Burton —Joint Chair
Clare Cornwell —Joint Chair
Mhairi Baxter
Duncan
Campbell
Nathan
Homan
Simon James
Tom Lee
James Radford
Emma Smillie
Executive Director Patrick Holden
Website https://www.
conservatoire. org.uk

Name Date Appointed Date Resigned
Mhairi Baxter 14 July 2022
Jane Burton —Joint Chair
Duncan Campbell 14July 2022
Clare Cornwell —Joint Chair
Nathan Human
Simon James 14 July 2022
Tom Lee 14July 2022
James Radford 14 July 2022
Theano Sakkas 14 July 2022
Katrina Shenton 14July 2022
Emma Smillie

Unrestricted Restricted Total Total
Notes Funds Funds 2022 2021
6 F 6 6
Income from
Donations
and legacies		 2 12,303 30000 42 303 36,195
Charitable
activities		 2 1,303,241 - 1,303,241 1,364,202
Other trading
activities		 2 867
Total income 1,315,544 30,000 1,345,544 1,401,264
Expenditure
on
Charitable
activities		 1,411,779 39,331 1,451,110 1,227,204
Raising funds
Total expenditure 3 1,411,779 39,331 1,451,110 1,227,204
Net (expenditure)/income (96,235) (9,331) (105,566) 174,060
Transfers
between
funds
Net movement
In (deficit)/funds		 (96,235) (9,331) (105,566) 174,060
Reconciliation
offunds
Total funds at 1 September 114,968 31,150 146,118 (27,942)
Total funds at 31August 13 18,733 21,819 40,552 146,118

STATEMENT OF CASHFLOWS 2022 2021
6 F
Net cashf low from operating
activities		 31,896 271,536
Net cash used in investing
activities
Purchase offixed assets (2,000) (2,247)
Net cash (used in)provided
by f(nancing		 activities
New borrowing
Repayment
of loans		 (56,273) (18,752)
Change
in cash and cash equivalents		 in the period (26,377) 250,537
Cash and cash equivalents
at the beginning
period		 ofthe 639,762 389,225
Cash and cash equivalents
at the end		 of the period 613,385 639,762
Reconciliation
of net income to net cashf low from
operating
activities
Net (expenditure)income
for the reporting		 period (105,566) 174,060
Decrease/(increase)
in debtors		 42,646 (73,037)
Increase/(decrease)
in creditors		 35,870 111,680
Depreciation 58,946 58,833
Net cashflow from operating
activities		 31,896 271,536
As at As at
RECONCILIATION
OF NET DEBT		 01.09.21
f		 Cash flows
6		 31.08.22
8
Cash and cash equivalents 639,762 (26,377) 613,385
Loans falling due within one year (57,585) 4,350 (53,235)
Loans falling due after more than one year (1,396,095) 51,923 (1,344,172)
Net debt (813,918) 29,896 (784,022)

Notes 2022 2021
Fixed assets
Intangible
asset
Tangible assets 1,472,984 1,529,910
ti,472,964 1,529,910
Current assets
Debtors 8 121,457 164,103
Cash at bank and In hand 613,385 639,782
734,842 803,865
Creditors: amounts falling
due within one year 9 (623,082) (591,562)
Net current assets 111,760 212,303
Total assets less current
liabilities 1,584,724 1,742,213
Creditors: amounts falling
due after mors than one
year 10 (1,544,172) (1,596,095)
Nst assets 40,552 146,118
Represented
by:
Unrestricted
Funds		 13
General
Fund		 (518,160) (427,761)
Revaluation
Reserve		 536,893 542,729
18,733 114,968
Restricted Funds 13 21,819 31,150
21,819 31,150
Total surplus 40,552 146,118

ncome
Unrestricted Restricted Total Total
2022 2022 2022 2021
F 8 f 8
Donations
and
Donations		 legacies: 12,303 30,000 42,303 36,195
12,303 30,000 42,303 36,195
Charitable
activities:
Course income 1,199,834 1,199,834 906,637
Grant income 375,535
Rental income 81,315 81,315 68,427
Other Income 22,092 22,092 13,603
1,303,241 1,303,241 1,364,202
Other trading
Rental income		 activities 867
Total income 1,315,544 30,000 1,345,544 1,401,264
xpenditure
2022f 2021
F
Costs directly allocated to activity
Tuition costs 674,594 552,325
Other costs 40,354 17,695
Supportcosts
Staff costs		 415,830 354,371
Office costs 55,775 55,133
Outreach costs
Marketing
and publicity costs
Premises costs		 21,015
91,353		 18,290
79,949
Professional
fees		 12,977 20,740
Finance costs 70,606 62,668
Depreciation
Governance		 58,946
9,660		 58,833
7,200
Total expenditure 1,451,110 1,227,204

4 Operating
profit
This is stated after charging: 2022 2021
E E
Trustees emoluments
Auditor's
remuneration
Depreciation
of tangible		 (inc VAT)
and intangible		 assets 9,660
58,946		 7,200
58,833
5 Staff costs
2022 2021
E
Wages and salaries
Social security costs and pension costs		 394,729
21,101		 344,206
10,165
415,830 354,371
The average head count of staff employed
during
the year was:		 2022 2021
No No
Charitable
activities		 24.92 23.25

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8 Debtors 2022 2021
F 6
Trade debtors 115,682 130,779
Prepayments
Other debtors		 5,485
290		 3,424
29,900
121,457 164,103
Creditors: amounts falling due within one year 2022
F		 2021f
Otherloans
- Secured		 53,235 57,585
Trade creditors 61,412 67,473
Taxation
& social security
Accruals		 7,918
12,957		 6,112
14,657
Other creditors 70,385 108,649
Deferred income 417,175 337,086
623,082 591,562
10 Creditors: amounts
one year		 falling due after more than 2022
8		 2021f
Bank loan 1-2 years
Bank loan —Secured
Bank loan —Secured
Sale and leaseback		 —2-5 years
—Over 5years
liability		 55,819
184,250
1,104,103
200,000		 59,633
191,929
1,144,533
200,000
1,544,172 1,596,095
The sale and leaseback liability relates to a sale and leaseback on a parcel of land adjacent to the
Conservatoire's
premises.		 The Conservatoire sold the land for F200,000 and entered into 99year
lease on the land for an annual rental of61, with an option to repurchase the land at the higher of
6200,000 or the market value of the land at the date the purchase option is exercised less 10%.
The f200,000sale proceeds are, under FRS102,disclosed as a creditor falling due after more than
one year.
11 Secured loans 2022
8		 2021
f
Bank loan 1,397,407 1,453,680
1,397,407 1,453,680

12 Analysis
of net assets between		 Analysis
of net assets between		 Analysis
of net assets between		 funds Unrestricted
Funds
Restricted
Funds		 Unrestricted
Funds
Restricted
Funds		 Total
2022		 Total
2021
F
8		 F 8
Fund balances are
Tangible/intangible
Current assets		 represented
fixed assets		 by: 1,472,964
713,023
21,819		 1,472,964
734,842		 1,529,910
803,865
Total liabilities (2,167,254) (2,167,254) (2,187,657)
18,733
21,819		 40,552 146,118
13 Movement
in funds		 Net
Transfer
Movement
Between
B/fwd in Funds
Funds		 C/fwd
6 6 8
Unrestricted
funds
General
fund
Revaluation
reserve		 (427,781)
542,729		 (96,235) 5,836
(5,836)		 (51e,tee)
536,893
Total unrestricted funds 114,968 (96,235) 18,733
Restricted
funds
Developing
Young		 Potential Fund 31,150 (9,331) 21,819
Total restricted
funds		 31,150 (9,331) 21,819
Total funds 146,118 (105,566) 40,552

Operating leases
Within one year
Within 2 to 5years
Over 5years
2022f 2021
6

Unrestricted Restricted Total
Income and Expenditure account -2021 Notes Funds
f		 Funds
6		 2021
6
Income from
Donations
and legacies		 2 36,195 36,195
Charitable
activities		 2 1,364,202 1,364,202
Other trading
activities		 2 867 867
Total income 1,365,069 36,195 1,401,264
Expenditure
on
Charitable
activities		 1,198,012 29,192 1,227,204
Raising funds
Total expenditure 3 1,198,012 29,192 1,227,204
Net Income 167,057 7,003 174,060
Transfers
between		 funds
Net movement
in		 funds 167,057 7,003 174,060
Reconciliation
of		 funds
Total (deficit)/funds at 1 September (52,089) 24,147 (27,942)
Total funds at 31August 13 114,968 31,150 146,118

incoming
reso		 urce s - 2021
Unrestricted Restricted Total
2021 2021 2021
F 8 8
Donations
and		 legacies;
Donations 36,195 36,195
36,195 36,195
Charitable
activities:
Course income 906,637 906,637
Grant income 375,535 375,535
Rental income 68,427 68,427
Other Income 13,603 13,603
1,364,202 1,364,202
Other trading activities
Rental income 867 867
Total income 1,365,069 36,195 1,401,264
Analysis
of net assets between		 funds - 2021 Unrestricted Restricted
Funds Funds Total
8 F.
Fund balances are represented
Tangible/intangible
fixed assets		 by; 1,529,910 1,529,910
Current assets 772,715 31,150 803,865
Total liabilities (2,187,657) (2, 1 87,657)
114,968 31,150 146,118

Movement in funds 2021 in funds 2021 Net Transfer
Movement Between
B/fwd in Funds Funds C/fwd
6 6 6 6
Unrestricted funds
General
fund		 (600,654) 167,057 5,836 (427,761)
Revaluation reserve 548,565 (5,836) 542,729
Total unrestricted funds (52,089) 167,057 114,968
Restricted funds
Developing Young Potential Fund 24,147 7,003 31,150
Outreach
Fund
Total restricted
funds		 24,147 7,003 31,150
Total funds (27,942) 174,060 146,118