## ## ## ||||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
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ID| |03|||||||||||||||||| ## |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|